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Stockholders' Equity and Noncontrolling Interests | 3 Months Ended
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Mar. 31, 2024
Stockholders' Equity Note [Abstract] |
Stockholders' Equity and Noncontrolling Interests | Stockholders' Equity and Noncontrolling Interests We have 2.0 billion shares of preferred stock and 5.0 billion shares of common stock authorized for issuance. We had no shares of preferred stock issued and outstanding at March 31, 2024 and December 31, 2023. We had 1.1 billion and 1.2 billion shares of common stock issued and outstanding at March 31, 2024 and December 31, 2023. Common Stock Holders of our common stock are entitled to dividends at the sole discretion of our Board of Directors. Our total dividends paid on common stock were $139 million and $126 million for the three months ended March 31, 2024 and 2023. In November 2023, our Board of Directors increased the capacity under the share repurchase program by $10.0 billion to an aggregate of $11.4 billion and approved an accelerated share repurchase (ASR) program to repurchase an aggregate amount of $10.0 billion of our common stock. In December 2023, pursuant to the agreements entered into in connection with the ASR (collectively, the ASR Agreements), we advanced $10.0 billion and received approximately 215 million shares of our common stock with a value of $6.8 billion, which were immediately retired. In March 2024, upon the first settlement of the transactions contemplated under the ASR Agreements, we received approximately 4 million additional shares, which were immediately retired. The final number of shares ultimately to be purchased will be based on the average of the daily volume-weighted average prices of our common stock during the term of the ASR Agreements, less a discount and subject to adjustments pursuant to the terms and conditions of the ASR Agreements. Upon final settlement, we may receive additional shares of common stock, or, under certain circumstances, we may be required to deliver shares of common stock or to make a cash payment, at our election. The final settlement of the transactions contemplated under the ASR Agreements in connection with the ASR program is expected to occur no later than the three months ending December 31, 2024. In the three months ended March 31, 2024, in addition to shares received under the ASR program, we purchased approximately 8 million shares of our outstanding common stock for $331 million, including an insignificant amount related to purchases initiated in March 2024 that settled in April 2024, as part of the share repurchase program. In the three months ended March 31, 2023, we purchased 9 million shares of our outstanding common stock for $369 million. Cruise Common Shares During the three months ended March 31, 2024 and 2023, GM Cruise Holdings LLC (Cruise Holdings) issued an insignificant amount of Class B Common Shares to net settle vested awards under Cruise's 2018 Employee Incentive Plan and to fund the payment of statutory tax withholding obligations resulting from the settlement or exercise of vested awards. The Class B Common Shares are classified as noncontrolling interests in our condensed consolidated financial statements except for certain shares that are liability classified that have an insignificant recorded value at March 31, 2024 and December 31, 2023. The following table summarizes the significant components of Accumulated other comprehensive loss:
|  |  |  |  | Three Months Ended
|  |  |  |  |  |  | March 31, 2024 |  | March 31, 2023
Foreign Currency Translation Adjustments |  |  |  |  |  |  |  |  |
Balance at beginning of period |  |  |  |  |  |  | $ | (2,457) |  |  | $ | (2,776) |
Other comprehensive income (loss) and noncontrolling interests, net of reclassification adjustment and tax(a)(b)(c) |  |  |  |  |  |  | (293) |  |  | 164 |
Balance at end of period |  |  |  |  |  |  | $ | (2,750) |  |  | $ | (2,611) |
Defined Benefit Plans |  |  |  |  |  |  |  |  |
Balance at beginning of period |  |  |  |  |  |  | $ | (7,665) |  |  | $ | (4,851) |
Other comprehensive income (loss) before reclassification adjustment, net of tax(c) |  |  |  |  |  |  | 51 |  |  | (39) |
Reclassification adjustment, net of tax(c) |  |  |  |  |  |  | 25 |  |  | 4 |
Other comprehensive income (loss), net of tax(c) |  |  |  |  |  |  | 76 |  |  | (35) |
Balance at end of period(d) |  |  |  |  |  |  | $ | (7,589) |  |  | $ | (4,886) |
__________ (a)The noncontrolling interests were insignificant in the three months ended March 31, 2024 and 2023. (b)The reclassification adjustment was insignificant in the three months ended March 31, 2024 and 2023. (c)The income tax effect was insignificant in the three months ended March 31, 2024 and 2023. (d)Primarily consists of unamortized actuarial loss on our defined benefit plans. Refer to Note 2. Significant Accounting Policies of our 2023 Form 10-K for additional information.

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