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Shareholders' Equity
 9 Months Ended
Sep. 30, 2019
Equity [Abstract]  
Stockholders' Equity
Shareholders' Equity
 
September 30, 2019
 
December 31, 2018
Common Stock
 
 
 
Number of shares authorized
10,000,000

 
10,000,000

Number of shares issued and outstanding
5,050,000

 
5,050,000

On October 24, 2019, our Board of Directors declared a $400 million dividend on our common stock, which was paid to General Motors Holdings LLC on October 25, 2019.
 
September 30, 2019
 
December 31, 2018
Preferred Stock
 
 
 
Number of shares authorized
250,000,000

 
250,000,000

Number of shares issued and outstanding
 
 
 
Fixed-to-Floating Rate Cumulative Perpetual Preferred Stock,
Series A (Series A Preferred Stock)
1,000,000

 
1,000,000

Fixed-to-Floating Rate Cumulative Perpetual Preferred Stock,
Series B (Series B Preferred Stock)
500,000

 
500,000


During the nine months ended September 30, 2019, we paid dividends of $58 million to holders of record of our Series A Preferred Stock, and $33 million to holders of record of our Series B Preferred Stock. During the nine months ended September 30, 2018, we paid dividends of $59 million to holders of record of our Series A Preferred Stock.
On October 24, 2019, prior to the declaration of our common stock dividend, our Board of Directors declared a dividend of $28.75 per share, $29 million in the aggregate, on our Series A Preferred Stock, payable on March 30, 2020 to holders of record at March 15, 2020 and declared a dividend of $32.50 per share, $16 million in the aggregate, on our Series B Preferred Stock, payable on March 30, 2020 to holders of record at March 15, 2020. Accordingly, $45 million has been set aside for the payment of these dividends.
The following table summarizes the significant components of accumulated other comprehensive loss:
 
Three Months Ended September 30,
 
Nine Months Ended September 30,
 
2019
 
2018
 
2019
 
2018
Unrealized (loss) gain on hedges
 
 
 
 
 
 
 
Beginning balance
$
(24
)
 
$
34

 
$
9

 
$
16

Change in value of hedges, net of tax
(12
)
 
1

 
(45
)
 
19

Ending balance
(36
)
 
35

 
(36
)
 
35

Defined benefit plans
 
 
 
 
 
 
 
Beginning balance
1

 
1

 
1

 
1

Unrealized gain on subsidiary pension, net of tax
—

 
—

 
—

 
—

Ending balance
1

 
1

 
1

 
1

Foreign currency translation adjustment
 
 
 
 
 
 
 
Beginning balance
(1,011
)
 
(971
)
 
(1,076
)
 
(785
)
Translation loss, net of tax
(164
)
 
(35
)
 
(99
)
 
(221
)
Ending balance
(1,175
)
 
(1,006
)
 
(1,175
)
 
(1,006
)
Total accumulated other comprehensive loss
$
(1,210
)
 
$
(970
)
 
$
(1,210
)
 
$
(970
)