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56
| 2007 AT&T Annual Report
Consolidated Statements of Stockholders’ Equity
Dollars and shares in millions except per share amounts
2007 2006 2005
Shares Amount Shares Amount Shares Amount
Common Stock
Balance at beginning of year 6,495 $ 6,495 4,065 $ 4,065 3,433 $ 3,433
Issuance of shares — — 2,430 2,430 632 632
Balance at end of year 6,495 $ 6,495 6,495 $ 6,495 4,065 $ 4,065
Capital in Excess of Par Value
Balance at beginning of year $ 91,352 $27,499 $13,350
Issuance of shares 225 63,637 14,087
Stock-based compensation 61 216 62
Balance at end of year $ 91,638 $91,352 $27,499
Retained Earnings
Balance at beginning of year $ 30,375 $29,106 $28,806
Net income ($1.94, $1.89 and $1.42 per share) 11,951 7,356 4,786
Dividends to stockholders ($1.47, $1.35 and $1.30 per share) (8,945) (6,079) (4,480)
Adoption of FIN 48 (50) — —
Other (34) (8) (6)
Balance at end of year $ 33,297 $30,375 $29,106
Treasury Shares
Balance at beginning of year (256) $ (7,368) (188) $ (5,406) (132) $ (4,535)
Purchase of shares (267) (10,390) (84) (2,678) (76) (1,843)
Issuance of shares 72 2,075 16 716 20 972
Balance at end of year (451) $(15,683) (256) $ (7,368) (188) $ (5,406)
Additional Minimum Pension Liability Adjustment
Balance at beginning of year $ — $ (218) $ (190)
Required adjustments, net of tax $6 and $(17) — 10 (28)
Adoption of FAS 158 — 208 —
Balance at end of year $ — $ — $ (218)
Accumulated Other Comprehensive Income (Loss), net of tax
Balance at beginning of year $ (5,314) $ (356) $ (360)
Foreign currency translation adjustments,
net of taxes of $10, $9 and $27 19 17 50
Net unrealized gains (losses) on securities:
Unrealized gains, net of taxes of $35, $7 and $3 65 13 5
Less reclassification adjustment realized in net income,
net of taxes of $(19), $(4) and $(30) (35) (8) (56)
Net unrealized gains (losses) on cash flow hedges:
Unrealized gains (losses), net of taxes of $(38), $2 and $(1) (71) 2 (1)
Less reclassification adjustment realized in net income,
net of taxes of $9, $8 and $3 17 15 7
Defined benefit postretirement plans (see Note 11):
Net actuarial gains and prior service cost arising during period,
net of taxes of $3,411 4,734 — —
Amortization of net actuarial loss and prior service benefit
included in net income, net of taxes of $125 206 — —
Other (1) 2 (1)
Other comprehensive income 4,934 41 4
Adoption of FAS 158, net of tax — (4,999) —
Balance at end of year $ (380) $ (5,314) $ (356)
Total Comprehensive Income
Net income $ 11,951 $ 7,356 $ 4,786
Additional minimum pension liability adjustments per above — 10 (28)
Other comprehensive income per above 4,934 41 4
Total Comprehensive Income $ 16,885 $ 7,407 $ 4,762
The accompanying notes are an integral part of the consolidated financial statements.