Avon 2010 Annual Report Download - page 70

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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 Non-
controlling
Interest Total(In millions, except per share data) Shares Amount Shares Amount
Balances at December 31, 2007 736.26 $184.7 $1,724.6 $3,586.5 $(417.0) 308.56 $(4,367.2) $ 38.2 $ 749.8
Comprehensive income:
Net income 875.3 .3 875.6
Foreign currency translation adjustments (318.3) 6.0 (312.3)
Changes in available-for-sale securities,
net of taxes of $3 (.7) (.7)
Amortization of unrecognized actuarial
losses, prior service credit, and tran-
sition obligation, net of taxes of $10.2 20.1 20.1
Net actuarial gains 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 332.7
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)
Purchases and sales of noncontrolling
interests, net of dividends paid of $7.1 (7.1) (7.1)
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) $ 37.4 $ 712.3
Comprehensive income:
Net income 625.8 2.4 628.2
Foreign currency translation adjustments 193.1 (.3) 192.8
Changes in available-for-sale securities,
net of taxes of $0.1 .3 .3
Amortization of unrecognized actuarial
losses and prior service credit, net of
taxes of $12.2 30.4 30.4
Net actuarial losses and prior service
cost arising during 2009, net of
taxes of $26.4 41.1 41.1
Net derivative losses on cash flow
hedges, net of taxes of $4.7 8.4 8.4
Total comprehensive income 901.2
Dividends – $.84 per share (360.8) (360.8)
Exercise / vesting and expense of share-
based compensation 1.48 .5 67.6 (.05) .6 68.7
Repurchase of common stock .40 (8.6) (8.6)
Purchases and sales of noncontrolling
interests, net of dividends paid of $4.8 .5 .5
Income tax benefits – stock transactions (.7) (.7)
Balances at December 31, 2009 740.90 $186.1 $1,941.0 $4,383.9 $ (692.6) 313.42 $(4,545.8) $ 40.0 $1,312.6
Comprehensive income:
Net income 606.3 3.0 609.3
Foreign currency translation adjustments 55.4 4.2 59.6
Changes in available-for-sale securities,
net of taxes
Amortization of unrecognized actuarial
losses and prior service credit, net of
taxes of $12.2 25.5 25.5
Net actuarial losses and prior service cost
arising during 2010, net of taxes
of $5.1 (8.8) (8.8)
Sale of Avon Japan, net of taxes
of $8.1 10.6 10.6
Net derivative losses on cash flow
hedges, net of taxes of $2.2 4.1 4.1
Total comprehensive income 700.3
Dividends – $.88 per share (379.4) (379.4)
Exercise / vesting and expense of share-
based compensation 2.44 .5 78.9 (.02) .6 80.0
Repurchase of common stock .40 (14.1) (14.1)
Purchases and sales of noncontrolling
interests, net of dividends paid of $3.8 (31.1) (31.1)
Income tax benefits – stock transactions 4.3 4.3
Balances at December 31, 2010 743.34 $186.6 $2,024.2 $4,610.8 $ (605.8) 313.80 $(4,559.3) $ 16.1 $1,672.6
The accompanying notes are an integral part of these statements.