CVS 2004 Annual Report Download - page 32
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JAN.1,JAN.3,DEC.28,JAN.1,JAN.3,DEC.28,
In millions 2005 2004 2002 2005 2004 2002
PREFERENCE STOCK:
Beginning of year 4.5 4.7 4.9 $ 242.7 $ 250.4 $ 261.2
Conversion to common stock (0.2) (0.2) (0.2) (14.3) (7.7) (10.8)
End of year 4.3 4.5 4.7 228.4 242.7 250.4
COMMON STOCK:
Beginning of year 410.2 409.3 408.5 4.1 4.1 4.1
Stock options exercised and awards 4.1 0.9 0.8 0.1 — —
End of year 414.3 410.2 409.3 4.2 4.1 4.1
TREASURY STOCK:
Beginning of year (14.8) (16.2) (17.6) (428.6) (469.5) (510.8)
Purchase of treasury shares — — — (0.8) (0.5) —
Conversion of preference stock 0.6 0.3 0.5 17.9 9.6 13.5
Employee stock purchase plan issuance 0.9 1.1 0.9 25.6 31.8 27.8
End of year (13.3) (14.8) (16.2) (385.9) (428.6) (469.5)
GUARANTEED ESOP OBLIGATION:
Beginning of year (163.2) (194.4) (219.9)
Reduction of guaranteed ESOP obligation 22.3 31.2 25.5
End ofyear (140.9) (163.2) (194.4)
CAPITAL SURPLUS:
Beginning of year 1,557.2 1,546.6 1,539.6
Conversion of preference stock (3.6) (1.9) (2.7)
Stock option activity and awards 119.4 9.2 6.7
Tax benefit on stock options and awards 18.4 3.3 3.0
End of year 1,691.4 1,557.2 1,546.6
ACCUMULATED OTHER COMPREHENSIVE LOSS:
Beginning ofyear (36.9) (44.6) —
Unrealized loss on derivatives (19.8) — —
Minimum pension liabilityadjustment 1.2 7.7 (44.6)
End ofyear (55.5) (36.9) (44.6)
RETAINED EARNINGS:
Beginning of year 4,846.5 4,104.4 3,492.7
Net earnings 918.8 847.3 716.6
Preference stock dividends (16.6) (17.7) (18.3)
Tax benefit on preference stock dividends 2.4 3.1 3.5
Common stock dividends (105.6) (90.6) (90.1)
End of year 5,645.5 4,846.5 4,104.4
TOTAL SHAREHOLDERS’EQUITY $6,987.2 $ 6,021.8 $ 5,197.0
COMPREHENSIVE INCOME:
Net earnings $918.8 $ 847.3 $ 716.6
Unrealized loss on derivatives (19.8) — —
Minimum pension liability, net of income tax 1.2 7.7 (44.6)
COMPREHENSIVE INCOME $900.2 $ 855.0 $ 672.0
See accompanying notes to consolidated financial statements.
Consolidated Statements of Shareholders’ Equity
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