v3.24.2
SHAREHOLDERS' EQUITY
 6 Months Ended
Jun. 30, 2024
Equity [Abstract]  
SHAREHOLDERS' EQUITY SHAREHOLDERS’ EQUITY
ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (AOCI)Three months ended June 30Six months ended June 30
(Dividends per share in dollars)2024202320242023
Beginning balance$(3,658)$(3,505)$(3,623)$(5,893)
AOCI before reclasses – net of taxes of $(39), $(13), $(13) and $(18)
29 67 (6)220 
Reclasses from AOCI – net of taxes of $103, $—, $103 and $(626)(a)
2,094 27 2,094 2,262 
AOCI2,123 95 2,087 2,481 
Less AOCI attributable to noncontrolling interests(22)(2)(22)(3)
Currency translation adjustments AOCI$(1,514)$(3,409)$(1,514)$(3,409)
Beginning balance$1,586 $4,214 $1,786 $6,531 
AOCI before reclasses – net of taxes of $(12), $12, $(4) and $(1)
(54)41 (83)(43)
Reclasses from AOCI – net of taxes of $(156), $(63), $(208) and $(657)(a)
(736)(214)(904)(2,449)
AOCI(790)(173)(987)(2,492)
Less AOCI attributable to noncontrolling interests(9)— (7)(2)
Benefit plans AOCI$806 $4,041 $806 $4,041 
Beginning balance$(1,412)$(1,222)$(959)$(1,927)
AOCI before reclasses – net of taxes of $(92), $(127), $(208) and $61
(341)(446)(806)272 
Reclasses from AOCI – net of taxes of $13, $(3), $12 and $(3)
37 (28)48 (41)
AOCI(304)(474)(758)231 
Less AOCI attributable to noncontrolling interests12 — 12 — 
Investment securities and cash flow hedges AOCI $(1,727)$(1,696)$(1,727)$(1,696)
Beginning balance$(2,119)$(2,776)$(3,354)$(983)
AOCI before reclasses – net of taxes of $138, $71, $466 and $(406)
518 267 1,753 (1,527)
AOCI518 267 1,753 (1,527)
Long-duration insurance contracts AOCI$(1,601)$(2,510)$(1,601)$(2,510)
AOCI at June 30
$(4,035)$(3,573)$(4,035)$(3,573)
Dividends declared per common share(b)$0.56 $0.08 $0.56 $0.16 
(a)The total reclassifications from AOCI included $1,590 million, including currency translation of $2,174 million and benefit plans of $(584) million, net of taxes, in the second quarter of 2024 related to the separation of GE Vernova. The total reclassifications from AOCI included $195 million, including currency translation of $2,234 million and benefit plans of $(2,030) million, net of taxes, in the first quarter of 2023 related to the separation of GE HealthCare.
(b)Following the separation of GE Vernova, the Board of Directors declared a dividend of $0.28 per share in April 2024, which reflects our dividend as a standalone company, that was paid in April 2024. In June 2024, the Board of Directors declared a dividend of $0.28 per share that will be paid in July 2024.

Preferred stock. In September, 2023 we redeemed the remaining outstanding shares of GE preferred stock. We redeemed 3,000 million of GE Series D preferred stock in the first quarter of 2023. GE Aerospace had 2,795,444 shares outstanding as of June 30, 2023.

Common stock. GE Aerospace common stock shares outstanding were 1,084,311,016 and 1,088,415,995 at June 30, 2024 and December 31, 2023, respectively. We repurchased 13.9 million shares for $2,289 million and 15.0 million shares for $2,434 million during the three and six months ended June 30, 2024, respectively. The Company's share repurchase program does not obligate it to acquire any specific number of shares. Under this program, shares may be purchased in the open market, in privately negotiated transactions, under accelerated share repurchase programs or under plans complying with Rules 10b5-1 and 10b-18 under the Securities Exchange Act of 1934, as amended.