Alcoa 1998 Annual Report Download - page 44

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42
Statement of Shareholders’ Equity Alcoa and subsidiaries
(in millions, except share amounts)
December 31 Comprehensive
income
Preferred
stock
Common
stock
Additional
capital
Retained
earnings
Treasury
stock
Accumulated
other
comprehensive
income/(loss)
Total
shareholders’
equity
Balance at end of 1995 $55.8 $178.9 $ 637.1 $3,800.1 $ (138.9) $ (88.3) $4,444.7
Comprehensive income — 1996:
Net income— 1996 $514.9 514.9 514.9
Other comprehensive income/(loss), net of tax:
Minimum pension liability, net of
$1.9 tax expense 3.5
Unrealized translation adjustments (8.9)
Realized translation adjustments (5.2)
Unrealized gains on securities, net of
$12.6 tax benefit 23.4 12.8 12.8
Comprehensive income $527.7
Cash dividends: Preferred @ $3.75 per share (2.1) (2.1)
Common @ $.665 per share (232.1) (232.1)
Treasury shares purchased (317.2) (317.2)
Stock issued: compensation plans (45.2) 1.8 84.8 41.4
Balance at end of 1996 55.8 178.9 591.9 4,082.6 (371.3) (75.5) 4,462.4
Comprehensive income — 1997:
Net income— 1997 $805.1 805.1 805.1
Other comprehensive income/(loss), net of tax:
Minimum pension liability, net of
$2.3 tax benefit (4.2)
Unrealized translation adjustments (249.6)
Unrealized gains on securities, net of
$.7 tax expense 1.3
Gains on securities included in net income,
net of $13.3 tax benefit (24.7) (277.2) (277.2)
Comprehensive income $527.9
Cash dividends: Preferred @ $3.75 per share (2.1) (2.1)
Common @ $.488 per share (168.3) (168.3)
Treasury shares purchased (603.5) (603.5)
Stock issued: compensation plans (13.8) 216.8 203.0
Balance at end of 1997 55.8 178.9 578.1 4,717.3 (758.0) (352.7) 4,419.4
Comprehensive income — 1998:
Net income—1998 $853.0 853.0 853.0
Other comprehensive income/(loss), net of tax:
Minimum pension liability, net of
$3.0 tax benefit (5.6)
Unrealized translation adjustments 11.4 5.8 5.8
Comprehensive income $858.8
Cash dividends: Preferred @ $3.75 per share (2.1) (2.1)
Common@$.75pershare (263.1) (263.1)
Treasury shares purchased (365.1) (365.1)
Stock issued: Alumax acquisition 18.4 1,302.4 1,320.8
Stock issued: compensation plans (7.2) 94.4 87.2
Stock issued: two-for-one split (B) 197.4 (197.4) —
Balance at end of 1998 $55.8 $394.7 $1,675.9 $5,305.1 $(1,028.7) $(346.9)*$6,055.9
*Comprised of unrealized translation adjustments of $(331.3) and minimum pension liability of $(15.6)
Share Activity (B)
(number of shares) Preferred stock
Common stock
Issued Treasury Net outstanding
Balance at end of 1995 557,649 357,845,166 (5,217,106) 352,628,060
Treasury shares purchased (10,805,000) (10,805,000)
Stock issued: compensation plans 3,196,218 3,196,218
Balance at end of 1996 557,649 357,845,166 (12,825,888) 345,019,278
Treasury shares purchased (16,154,534) (16,154,534)
Stock issued: compensation plans 7,686,508 7,686,508
Balance at end of 1997 557,649 357,845,166 (21,293,914) 336,551,252
Treasury shares purchased (9,774,600) (9,774,600)
Stock issued: Alumax acquisition 36,850,760 36,850,760
Stock issued: compensation plans 3,181,666 3,181,666
Balance at end of 1998 557,649 394,695,926 (27,886,848) 366,809,078
The accompanying notes are an integral part of the financial statements.