CVS 2007 Annual Report Download - page 47
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43 I 2007 Annual Report
Shares Dollars
Dec. 29, Dec. 30, Dec. 31, Dec. 29, Dec. 30, Dec. 31,
In millions 2007 2006 2005 2007 2006 2005
ACCUMULATED OTHER
COMPREHENSIVE LOSS:
Beginning of year (72.6) (90.3) (55.5)
Recognition of unrealized gain/(loss)
on derivatives, net of income tax 3.4 (0.3) 2.9
Pension liability adjustment 19.5 23.6 (37.7)
Pension liability adjustment to
initially apply SFAS No.158,
net of tax benefit – (5.6) –
End of year (49.7) (72.6) (90.3)
RETAINED EARNINGS:
Beginning of year 7,966.6 6,738.6 5,645.5
Net earnings 2,637.0 1,368.9 1,224.7
Common stock dividends (308.8) (127.0) (117.5)
Preference stock dividends (14.8) (15.6) (16.2)
Tax benefit on preference
stock dividends 1.2 1.7 2.1
Adoption of FIN 48 5.8 – –
End of year 10,287.0 7,966.6 6,738.6
Total shareholders’ equity $ 31,321.9 $ 9,917.6 $ 8,331.2
COMPREHENSIVE INCOME:
Net earnings $ 2,637.0 $ 1,368.9 $ 1,224.7
Recognition of unrealized gain/(loss)
on derivatives, net of income tax 3.4 (0.3) 2.9
Pension liability, net of income tax 19.5 23.6 (37.7)
Comprehensive income $ 2,659.9 $ 1,392.2 $ 1,189.9
See accompanying notes to consolidated financial statements.