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EQUITY
 9 Months Ended
Sep. 30, 2022
Equity [Abstract]  
EQUITY EQUITY
Preferred Stock
Preferred stock authorized, issued and outstanding was as follows:
September 30, 2022December 31, 2021
SeriesShares AuthorizedShares
 Issued		Shares OutstandingShares AuthorizedShares
 Issued		Shares Outstanding
Series A 32,000 32,000 32,000 32,000 32,000 32,000 
Series B 20,000 20,000 20,000 20,000 20,000 20,000 
Series C12,000 12,000 12,000 12,000 12,000 12,000 
Total64,000 64,000 64,000 64,000 64,000 64,000 

Dividends declared per share were as follows for the periods indicated:
Three Months Ended September 30,Nine Months Ended September 30,
2022202120222021
Series A dividends declared $328 $328 $984 $984 
Series B dividends declared$— $— $619 $619 
Series C dividends declared$269 $269 $806 $738 
Common Stock
Dividends declared per share of common stock were as follows for the periods indicated:
Three Months Ended September 30,Nine Months Ended September 30,
2022202120222021
Dividends declared$0.20 $0.18 $0.58 $0.53 

Share Repurchase

On February 9, 2022, the Company’s Board of Directors authorized a new $1.2 billion share repurchase program. Under this program, the Company may, from time to time purchase shares of its common stock through various means. The Company may choose to suspend or discontinue the repurchase program at any time. The repurchase program does not obligate the Company to purchase any particular number of shares. As of September 30, 2022, Holdings had authorized capacity of approximately $578 million remaining in its share repurchase program.
Holdings repurchased a total of 7.0 million, 15.6 million, 23.2 million and 38.2 million shares of its common stock at an average price of $28.67, $29.50, $30.17, and $30.56 per share, respectively through open market repurchases, ASRs and privately negotiated transactions during the three and nine months ended September 30, 2022 and 2021.
Holdings purchased 4.7 million and 0 shares of its common stock through open market purchases in the three months ended September 30, 2022 and 2021. During the nine months ended September 30, 2022 and 2021, Holdings repurchased 12.6 million and 3.2 million shares of its common stock through open market repurchases.
In April 2022, Holdings entered into an ASR with a third-party financial institution to repurchase an aggregate of $100 million of Holdings’ common stock. Pursuant to the ASR, Holdings made a prepayment of $100 million and initially received 2.6 million shares. The ASR terminated during April 2022, at which time 684,700 additional shares of common stock were received.
In May 2022, Holdings entered into an ASR with a third-party financial institution to repurchase an aggregate of $150 million of Holdings’ common stock. Pursuant to the ASR, Holdings made a prepayment of $150 million and initially received 4.3 million shares. The ASR terminated during July 2022, at which time 1.2 million additional shares of common stock were received.
In September 2022, Holdings entered into an ASR contract with a third-party financial institution to repurchase an aggregate of $37.5 million of Holdings’ common stock. Pursuant to the ASR, Holdings made a prepayment of $37.5 million and received initial delivery of 1.1 million shares. The ASR is scheduled to terminate on November 4, 2022, at which time additional shares may be delivered or returned depending on the daily volume weighted average price of Holdings’ common stock.
Accumulated Other Comprehensive Income (Loss)
AOCI represents cumulative gains (losses) on items that are not reflected in net income (loss). The balances as of September 30, 2022 and December 31, 2021 follow:
 September 30,December 31,
 20222021
 
(in millions)
Unrealized gains (losses) on investments$(7,210)$2,684 
Defined benefit pension plans(608)(669)
Foreign currency translation adjustments(120)(45)
Total accumulated other comprehensive income (loss)(7,938)1,970 
Less: Accumulated other comprehensive income (loss) attributable to noncontrolling interest(62)(34)
Accumulated other comprehensive income (loss) attributable to Holdings$(7,876)$2,004 
The components of OCI, net of taxes for the three and nine months ended September 30, 2022 and 2021 follow:

Three Months Ended September 30,

Nine Months Ended September 30,
 2022202120222021
 (in millions)
Change in net unrealized gains (losses) on investments:
Net unrealized gains (losses) arising during the period$(3,195)$(310)$(12,929)$(2,547)
(Gains) losses reclassified into net income (loss) during the period (1)245 (131)678 (617)
Net unrealized gains (losses) on investments(2,950)(441)(12,251)(3,164)
Adjustments for policyholders’ liabilities, DAC, insurance liability loss recognition and other624 318 2,357 1,108 
Change in unrealized gains (losses), net of adjustments (net of deferred income tax expense (benefit) of $(619), $(32), $(2,630) and $(546))
(2,326)(123)(9,894)(2,056)
Change in defined benefit plans:
Reclassification to Net income (loss) of amortization of net prior service credit included in net periodic cost16 22 61 77 
Change in defined benefit plans (net of deferred income tax expense (benefit) of $(4), $6, $(13), and $20)
16 22 61 77 
Foreign currency translation adjustments:
Foreign currency translation gains (losses) arising during the period(30)(9)(75)(13)
Foreign currency translation adjustment(30)(9)(75)(13)
Total other comprehensive income (loss), net of income taxes(2,340)(110)(9,908)(1,992)
Less: Other comprehensive income (loss) attributable to noncontrolling interest(12)(3)(28)(5)
Other comprehensive income (loss) attributable to Holdings$(2,328)$(107)$(9,880)$(1,987)
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(1)See “Reclassification adjustment” in Note 3 of the Notes to these Consolidated Financial Statements. Reclassification amounts presented net of income tax expense (benefit) of $(65) million, $35 million, $(180) million, and $164 million for the three and nine months ended September 30, 2022 and 2021, respectively.
Investment gains and losses reclassified from AOCI to net income (loss) primarily consist of realized gains (losses) on sales and credit losses of AFS securities and are included in total investment gains (losses), net on the consolidated statements of income (loss). Amounts reclassified from AOCI to net income (loss) as related to defined benefit plans primarily consist of amortization of net (gains) losses and net prior service cost (credit) recognized as a component of net periodic cost and reported in compensation and benefits in the consolidated statements of income (loss). Amounts presented in the table above are net of tax.