CVS 2002 Annual Report Download - page 26

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Consolidated Statements of Shareholders’ Equity
Shares Dollars
In millions 2002 2001 2000 2002 2001 2000
Preference stock:
Beginning of year 4.9 5.0 5.2 $261.2 $ 267.5 $ 276.0
Conversion to common stock (0.2) (0.1) (0.2) (10.8) (6.3) (8.5)
End of year 4.7 4.9 5.0 250.4 261.2 267.5
Common stock:
Beginning of year 408.5 407.4 403.0 4.1 4.1 4.0
Stock options exercised and awards 0.8 1.1 4.4 ——0.1
End of year 409.3 408.5 407.4 4.1 4.1 4.1
Tr e a s u r y s t o c k :
Beginning of year (17.6) (15.1) (11.1) (510.8) (404.9) (258.5)
Purchase of treasury shares —(3.4) (4.7) —(129.0) (163.2)
Conversion of preference stock 0.5 0.3 0.4 13.5 7. 5 9 . 1
Other 0.9 0.6 0.3 27.8 15 . 6 7. 7
End of year (16.2) (17.6) (15.1) (469.5) (510.8) (404.9)
Guaranteed ESOP obligation:
Beginning of year (219.9) (240.6) (257.0)
Reduction of guaranteed ESOP obligation 25.5 20.7 16.4
End of year (194.4) (219.9) (240.6)
Capital surplus:
Beginning of year 1,539.6 1,493.8 1,371.7
Conversion of preference stock (2.7) (1.2) (0.7)
Stock option activity and awards 6.7 33.9 94.4
Tax benefit on stock options and awards 3.0 13.1 28.4
End of year 1,546.6 1,539.6 1,493.8
Accumulated other comprehensive loss:
Beginning of year ———
Minimum pension liability adjustment (44.6) ——
End of year (44.6) ——
Retained earnings:
Beginning of year 3,492.7 3,184.7 2,543.5
Net earnings 716.6 413 . 2 746 . 0
Preference stock dividends (18.3) (19.1) (19.5)
Tax benefit on preference stock dividends 3.5 4.4 4.9
Common stock dividends (90.1) (90.5) (90.2)
End of year 4,104.4 3,492.7 3,184.7
Total shareholders’ equity $ 5,197.0 $4,566.9 $4,304.6
Comprehensive income
Net earnings $716.6 $ 413.2 $ 746.0
Minimum pension liability, net of income
tax benefit (44.6) ——
Comprehensive income $ 672.0 $ 413.2 $ 746.0
See accompanying notes to consolidated financial statements.
24 CVS Corporation