Avon 2008 Annual Report Download - page 58

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CONSOLIDATED STATEMENTS OF CHANGES
IN SHAREHOLDERS’ EQUITY
Common Stock Additional
Paid-In
Capital
Retained
Earnings
Accumulated
Other
Comprehensive
Loss
Treasury Stock
(In millions, except per share data) Shares Amount Shares Amount Total
Balances at December 31, 2005 731.37 $182.9 $1,448.7 $3,233.1 $(740.9) 279.89 $(3,329.6) $ 794.2
Comprehensive income:
Net income 477.6 477.6
Foreign currency translation adjustments 103.6 103.6
Changes in available-for-sale securities, net of
taxes of $0 .1 .1
Minimum pension liability adjustment, net of
taxes of $156.8 234.6 234.6
Net derivative losses on cash flow hedges, net
of taxes of $.2 1.0 1.0
Total comprehensive income 816.9
Adoption of SFAS 158, net of taxes of $147.3
(Note 11) (254.7) (254.7)
Dividends - $.70 per share (313.9) (313.9)
Exercise / vesting and expense of share-based
compensation 1.37 .6 93.0 (.10) 1.3 94.9
Repurchase of common stock 11.56 (355.1) (355.1)
Income tax benefits – stock transactions 8.1 8.1
Balances at December 31, 2006 732.74 $183.5 $1,549.8 $3,396.8 $(656.3) 291.35 $(3,683.4) $ 790.4
Comprehensive income:
Net income 530.7 530.7
Foreign currency translation adjustments 185.7 185.7
Changes in available-for-sale securities, net of
taxes of $0 .1 .1
Amortization of unrecognized actuarial losses,
prior service credit, and transition obligation,
net of taxes of $14.2 27.6 27.6
Net actuarial gains and prior service cost
arising during 2007, net of taxes of $22.3 43.3 43.3
Net derivative losses on cash flow hedges, net
of taxes of $9.5 (17.4) (17.4)
Total comprehensive income 770.0
Adoption of FIN 48 (Note 6) (18.3) (18.3)
Dividends – $.74 per share (322.7) (322.7)
Exercise / vesting and expense of share-based
compensation 3.52 1.2 143.4 (.10) 1.2 145.8
Repurchase of common stock 11.8 17.31 (685.0) (673.2)
Income tax benefits – stock transactions 19.6 19.6
Balances at December 31, 2007 736.26 $184.7 $1,724.6 $3,586.5 $(417.0) 308.56 $(4,367.2) $ 711.6
Comprehensive income:
Net income 875.3 875.3
Foreign currency translation adjustments (318.3) (318.3)
Changes in available-for-sale securities, net of
taxes of $.3 (.7) (.7)
Amortization of unrecognized actuarial losses
and prior service credit, net of taxes of $10.2 20.1 20.1
Net actuarial losses and prior service cost
arising during 2008, net of taxes of $119.4 (240.5) (240.5)
Net derivative losses on cash flow hedges, net
of taxes of $5.1 (9.5) (9.5)
Total comprehensive income 326.4
Dividends - $.80 per share (342.9) (342.9)
Exercise / vesting and expense of share-based
compensation 3.16 .9 134.4 (.10) 1.5 136.8
Repurchase of common stock 4.61 (172.1) (172.1)
Income tax benefits – stock transactions 15.1 15.1
Balances at December 31, 2008 739.42 $185.6 $1,874.1 $4,118.9 $(965.9) 313.07 $(4,537.8) $ 674.9
The accompanying notes are an integral part of these statements.