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42 CVS CAREMARK
Consolidated Statements of Shareholders’ Equity
Shares Dollars
Dec. 31, Dec. 29, Dec. 30, Dec. 31, Dec. 29, Dec. 30,
In millions 2008 2007 2006 2008 2007 2006
PREFERENCE STOCK:
Beginning of year 3.8 4.0 4.2 $ 203.0 $ 213.3 $ 222.6
Conversion to common stock (0.2) (0.2) (0.2) (11.5) (10.3) (9.3)
End of year 3.6 3.8 4.0 191.5 203.0 213.3
COMMON STOCK:
Beginning of year 1,590.1 847.3 838.8 15.9 8.5 8.4
Common stock issued for
Caremark Merger – 712.7 – – 7.1 –
Stock options exercised and awards 13.2 30.1 8.5 0.1 0.3 0.1
End of year 1,603.3 1,590.1 847.3 16.0 15.9 8.5
TREASURY STOCK:
Beginning of year (153.7) (21.5) (24.5) (5,620.4) (314.5) (356.5)
Purchase of treasury shares (6.5) (135.0) 0.1 (33.0) (5,378.7) (0.1)
Conversion of preference stock 1.0 0.9 0.8 35.2 24.7 11.7
Transfer from Trust (7.5) – – (272.3) – –
Employee stock purchase plan issuance 2.2 1.9 2.1 78.2 48.1 30.4
End of year (164.5) (153.7) (21.5) (5,812.3) (5,620.4) (314.5)
GUARANTEED ESOP OBLIGATION:
Beginning of year (44.5) (82.1) (114.0)
Reduction of guaranteed ESOP obligation 44.5 37.6 31.9
End of year – (44.5) (82.1)
SHARES HELD IN TRUST:
Beginning of year (9.2) – – (301.3) – –
Transfer to treasury stock 7.5 – – 245.8 – –
Shares acquired through Caremark Merger – (9.2) – – (301.3) –
End of year (1.7) (9.2) (55.5) (301.3) –
CAPITAL SURPLUS:
Beginning of year 26,831.9 2,198.4 1,922.4
Common stock issued for Caremark Merger,
net of issuance costs – 23,942.4 –
Conversion of shares held in Trust to
treasury stock 26.5 – –
Stock option activity and awards 391.8 607.7 235.8
Tax benefi t on stock options and awards 53.1 97.8 42.6
Conversion of preference stock (23.7) (14.4) (2.4)
End of year 27,279.6 26,831.9 2,198.4