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Equity
 12 Months Ended
Dec. 31, 2021
Equity [Abstract]  
Equity EQUITY
COMMON STOCK
We are authorized to issue 2 billion shares of Class A common stock, 1.25 billion shares of Class B common stock and 50 million shares of preferred stock each of which have a par value of $0.0001 per share. The number of shares of Class A common stock and Class B common stock outstanding at December 31, 2021 is 909 million and 117 million, respectively. We have not issued any preferred stock. GE owns all the issued and outstanding Class B common stock. Each share of Class A and Class B common stock and the associated membership interest in BHH LLC form a paired interest. While each share of Class B common stock has equal voting rights to a share of Class A common stock, it has no economic rights, meaning holders of Class B common stock have no right to dividends and any assets in the event of liquidation of the Company. GE is entitled through BHH LLC Units ("LLC Units") to receive distributions on an equal per share amount of any dividend paid by the Company.
In 2020, GE launched a program to divest of its ownership interest in us, at its discretion, in a series of transactions over approximately three years, subject to market conditions and other factors. As of December 31, 2021, GE’s economic interest in BHH LLC was 11.4%.
In 2021, our Board of Directors authorized each of the Company and BHH LLC to repurchase up to $2 billion of its Class A common stock and LLC Units, respectively. We expect to fund the repurchase program from cash generated from operations, and we expect to make share repurchases from time to time subject to the Company's capital plan, market conditions, and other factors, including regulatory restrictions. The repurchase program may be suspended or discontinued at any time and does not have a specified expiration date. In 2021, the Company and BHH LLC repurchased and canceled 17.6 million shares of Class A common stock and LLC Units, respectively, each for $434 million. As of December 31, 2021, the Company and BHH LLC had authorization remaining to repurchase up to approximately $1.6 billion of its Class A common stock and LLC Units, respectively.
The following table presents the changes in the number of shares outstanding (in thousands):
20212020
Class A Common StockClass B Common StockClass A Common StockClass B Common Stock
Balance at beginning of year723,999 311,433 650,065 377,428 
Issue of shares upon vesting of restricted stock units (1)
4,968 — 3,548 — 
Issue of shares on exercises of stock options (1)
408 — 13 — 
Issue of shares for employee stock purchase plan
2,510 — 4,378 — 
Exchange of Class B common stock for Class A common stock (2)
194,885 (194,885)65,995 (65,995)
Repurchase and cancellation of Class A common stock(17,628)— — — 
Balance at end of year909,142 116,548 723,999 311,433 
(1)    Share amounts reflected above are net of shares withheld to satisfy the employee's tax withholding obligation.
(2)    When shares of Class B common stock, together with associated LLC Units, are exchanged for shares of Class A common stock pursuant to the Exchange Agreement, such shares of Class B common stock are canceled.
During 2021 and 2020, the Company declared and paid aggregate regular dividends of $0.72 per share to holders of record of the Company's Class A common stock.
ACCUMULATED OTHER COMPREHENSIVE LOSS ("AOCL")
The following table presents the changes in accumulated other comprehensive loss, net of tax:
Investment SecuritiesForeign Currency Translation AdjustmentsCash Flow HedgesBenefit PlansAccumulated Other Comprehensive Loss
Balance at December 31, 2019$1 $(1,436)$6 $(207)$(1,636)
Other comprehensive income (loss) before reclassifications(2)175 (2)(181)(10)
Amounts reclassified from accumulated other comprehensive loss
— — (4)51 47 
Deferred taxes
— — 1 5 6 
Other comprehensive income (loss)(2)175 (5)(125)43 
Less: Other comprehensive income (loss) attributable to noncontrolling interests(1)40 (2)(37)— 
Less: Reallocation of AOCL based on change in ownership of BHH LLC Units— 163 — 22 185 
Balance at December 31, 2020— (1,464)3 (317)(1,778)
Other comprehensive income (loss) before reclassifications
— (344)(11)135 (220)
Amounts reclassified from accumulated other comprehensive loss
— 39 (7)38 70 
Deferred taxes
— — 2 (3)(1)
Other comprehensive income (loss)— (305)(16)170 (151)
Less: Other comprehensive income (loss) attributable to noncontrolling interests
— (38)(3)25 (16)
Less: Reallocation of AOCL based on change in ownership of BHH LLC Units— 394 — 78 472 
Balance at December 31, 2021$— $(2,125)$(10)$(250)$(2,385)
The amounts reclassified from accumulated other comprehensive loss during the years ended December 31, 2021 and 2020 represent (i) gains (losses) reclassified on cash flow hedges when the hedged transaction occurs, (ii) the amortization of net actuarial gain (loss), prior service credit, and curtailments which are included in the computation of net periodic pension cost (see "Note 11. Employee Benefit Plans" for additional details), and (iii) the release of foreign currency translation adjustments for certain restructured product lines (see "Note 20. Restructuring, Impairment and Other" for additional details).
NONCONTROLLING INTEREST
Noncontrolling interests represent the portion of net assets in consolidated entities that are not owned by the Company. As of December 31, 2021 and 2020, GE owned approximately 11.4% and 30.1%, respectively, of BHH LLC and this represents the majority of the noncontrolling interest balance reported within equity.
20212020
GE's interest in BHH LLC$1,777 $5,216 
Other noncontrolling interests139 133 
Total noncontrolling interests$1,916 $5,349