Aflac 2007 Annual Report Download - page 52

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48 There’s Only One Aflac
Consolidated Statements of Shareholders’ Equity Aflac Incorporated and Subsidiaries
(In millions, except for per-share amounts) Years Ended December 31, 2007 2006 2005
Common stock:
Balance, beginning and end of year $66 $65 $65
Exercise of stock options –1–
Balance, end of year 66 66 65
Additional paid-in capital:
Balance, beginning of year 895 791 676
Exercise of stock options, including income tax benefits 74 32 54
Share-based compensation 39 34 32
Gain on treasury stock reissued 46 38 29
Balance, end of year 1,054 895 791
Retained earnings:
Balance, beginning of year 9,304 8,048 6,785
Cumulative effect of change - adoption of SAB 108 –139 –
Cumulative effect of change in accounting principle –(2) –
Net earnings 1,634 1,483 1,483
Dividends to shareholders ($.615 per share in 2007,
$.735 per share in 2006, and $.44 per share in 2005) (301) (364) (220)
Balance, end of year 10,637 9,304 8,048
Accumulated other comprehensive income:
Balance, beginning of year 1,426 1,957 2,611
Change in unrealized foreign currency translation gains (losses) during year,
net of income taxes 75 (23) (145)
Change in unrealized gains (losses) on investment
securities during year, net of income taxes (576) (467) (500)
Pension liability adjustment during year, net of income taxes 93 (9)
Adoption of SFAS 158, net of income taxes –(44) –
Balance, end of year 934 1,426 1,957
Treasury stock:
Balance, beginning of year (3,350) (2,934) (2,561)
Purchases of treasury stock (606) (470) (438)
Cost of shares issued 60 54 65
Balance, end of year (3,896) (3,350) (2,934)
Total shareholders’ equity $ 8,795 $ 8,341 $ 7,927
See the accompanying Notes to the Consolidated Financial Statements.