Avon 2005 Annual Report Download - page 23

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2005฀ANNUAL฀REPORT฀฀43
Accumulated
Additional Other
Common Stock Paid-In Retained Comprehensive Treasury Stock
In millions, except per share data Shares Amount Capital Earnings Loss Shares Amount Total
Balances at December 31, 2002 358.38 $ 89.6 $1,019.5 $1,735.3 $(791.4) 123.12 $(2,180.7) $(127.7)
Comprehensive income:
Net income 664.8 664.8
Foreign currency translation adjustments 53.7 53.7
Unrealized loss from available-for-sale
securities, net of taxes of $2.4 4.5 4.5
Minimum pension liability adjustment,
net of taxes of $1.0 2.8 2.8
Net derivative losses on cash flow hedges,
net of taxes of $.6 1.0 1.0
Total comprehensive income 726.8
Dividends – $.84 per share (197.7) (197.7)
Exercise of stock options, including
tax benefits of $29.5 2.63 .7 128.4 (.05) .9 130.0
Repurchase of common stock 3.50 (214.3) (214.3)
Grant, cancellation and amortization
of restricted stock .11 – 6.6 6.6
Partial conversion of convertible notes 33.9 (.75) 13.7 47.6
Balances at December 31, 2003 361.12 90.3 1,188.4 2,202.4 (729.4) 125.82 (2,380.4) 371.3
Comprehensive income:
Net income 846.1 846.1
Foreign currency translation adjustments 116.5 116.5
Changes in available-for-sale securities,
net of taxes of $5.7 10.5 10.5
Minimum pension liability adjustment,
net of taxes of $58.1 (74.0) (74.0)
Net derivative losses on cash flow hedges,
net of taxes of $2.0 (3.1) (3.1)
Total comprehensive income 896.0
Dividends – $.56 per share (264.3) (264.3)
Two-for-one stock split effected in the form
of a dividend (Note 9) 362.82 90.7 (90.7) 126.86
Exercise of stock options, including tax
benefits of $40.3 4.35 1.1 159.7 (.16) 1.8 162.6
Repurchase of common stock 4.56 (224.2) (224.2)
Grant, cancellation and amortization
of restricted stock .32 .1 8.7 8.8
Balances at December 31, 2004 728.61 182.2 1,356.8 2,693.5 (679.5) 257.08 (2,602.8) 950.2
Comprehensive income:
Net income 847.6 847.6
Foreign currency translation adjustments (42.9) (42.9)
Changes in available-for-sale securities,
net of taxes of $.9 (1.8) (1.8)
Minimum pension liability adjustment,
net of taxes of $19.7 (20.1) (20.1)
Net derivative losses on cash flow hedges,
net of taxes of $2.4 3.4 3.4
Total comprehensive income 786.2
Dividends – $.66 per share (308.0) (308.0)
Exercise of stock options, including
tax benefits of $22.4 2.76 .6 81.9 (.12) 1.2 83.7
Repurchase of common stock 22.93 (728.0) (728.0)
Grant, cancellation and amortization
of restricted stock .1 10.0 10.1
Balances at December 31, 2005 731.37 $ 182.9 $1,448.7 $3,233.1 $(740.9) 279.89 $(3,329.6) $ 794.2
The accompanying notes are an integral part of these statements.
CONSOLIDATED฀STATEMENTS฀OF฀CHANGES฀฀
IN฀SHAREHOLDERS’฀EQUITY฀