Aflac 2006 Annual Report Download - page 51

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47
Consolidated Statements of Shareholders’ Equity Aflac Incorporated and Subsidiaries
(In millions, except for per-share amounts) Years Ended December 31, 2006 2005 2004
Common stock:
Balance, beginning and end of year $65 $65 $65
Exercise of stock options 1––
Balance, end of year 66 65 65
Additional paid-in capital:
Balance, beginning of year 791 676 592
Exercise of stock options, including income tax benefits 32 54 14
Share-based compensation 34 32 34
Gain on treasury stock reissued 38 29 36
Balance, end of year 895 791 676
Retained earnings:
Balance, beginning of year 8,048 6,785 5,712
Cumulative effect of change - adoption of SAB 108 139 ––
Cumulative effect of change in accounting principle (2) ––
Net earnings 1,483 1,483 1,266
Dividends to shareholders ($.735 per share in 2006,
$.44 per share in 2005, and $.38 per share in 2004) (364) (220) (193)
Balance, end of year 9,304 8,048 6,785
Accumulated other comprehensive income:
Balance, beginning of year 1,957 2,611 2,493
Change in unrealized foreign currency translation gains (losses) during year,
net of income taxes (23) (145) 9
Change in unrealized gains (losses) on investment
securities during year, net of income taxes (467) (500) 101
Pension liability adjustment during year, net of income taxes (41) (9) 8
Balance, end of year 1,426 1,957 2,611
Treasury stock:
Balance, beginning of year (2,934) (2,561) (2,214)
Purchases of treasury stock (470) (438) (392)
Cost of shares issued 54 65 45
Balance, end of year (3,350) (2,934) (2,561)
Total shareholders’ equity $ 8,341 $ 7,927 $ 7,576
See the accompanying Notes to the Consolidated Financial Statements.