Avon 2001 Annual Report Download - page 23

Download and view the complete annual report

Please find page 23 of the 2001 Avon annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 49

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49

PAGE 47
Consolidated Statements of Changes in
Shareholders’ (Deficit) Equity
Avon Products, Inc.
In millions, except share data
Accumulated
Additional Other
Common Stock Paid-In Retained Comprehensive Treasury
Shares Amount Capital Earnings Loss Stock Total
Balance at December 31, 1999 352,575,924 $88.1 $ 819.4 $ 821.4 $(349.7) $(1,801.1) $(421.9)
Comprehensive income:
Net income 479.1 479.1
Foreign currency translation
adjustments (42.9) (42.9)
Unrealized loss from available-for-
sale securities, net of taxes of $3.3 (6.0) (6.0)
Minimum pension liability
adjustment, net of taxes of $.3 (.5) (.5)
Total comprehensive income 429.7
Dividends–$.74 per share (175.8) (175.8)
Exercise of stock options,
including tax benefits of $8.8 1,701,935 .4 49.1 49.5
Grant, cancellation and
amortization of restricted stock 257,981 .1 6.6 6.7
Repurchase of common stock (68.1) (68.1)
Share repurchase commitments (51.0) (51.0)
Balance at December 31, 2000 354,535,840 88.6 824.1 1,124.7 (399.1) (1,869.2) (230.9)
Comprehensive income:
Net income 444.6 444.6
Foreign currency translation
adjustments (50.6) (50.6)
Unrealized loss from available-for-
sale securities, net of taxes of $1.4 (2.6) (2.6)
Minimum pension liability
adjustment, net of taxes of $17.7 (35.0) (35.0)
Net derivative losses on cash
flow hedges, net of taxes of $1.2 (2.2) (2.2)
Total comprehensive income 354.2
Dividends–$.76 per share (179.9) (179.9)
Exercise of stock options, including
tax benefits of $8.3 1,626,233 .4 55.0 55.4
Grant, cancellation and
amortization of restricted stock 150,607 .1 7.9 8.0
Repurchase of common stock (132.9) (132.9)
Share repurchase commitments 51.0 51.0
Balance at December 31, 2001 356,312,680 89.1 938.0 1,389.4 (489.5) (2,002.1) (75.1)
Comprehensive income:
Net income 534.6 534.6
Foreign currency translation
adjustments (58.1) (58.1)
Unrealized loss from available-for-
sale securities, net of taxes of $2.4 (4.4) (4.4)
Minimum pension liability
adjustment, net of taxes of $108.6 (239.0) (239.0)
Net derivative losses on cash
flow hedges, net of taxes of $.2 (.4) (.4)
Total comprehensive income 232.7
Dividends–$.80 per share (188.7) (188.7)
Exercise of stock options, including
tax benefits of $10.5 1,995,461 .5 74.7 75.2
Repurchase of common stock (178.6) (178.6)
Grant, cancellation and amortization
of restricted stock 74,021 — 6.8 6.8
Balance at December 31, 2002 358,382,162 $89.6 $1,019.5 $1,735.3 $(791.4) $(2,180.7) $(127.7)
The accompanying notes are an integral part of these statements.