CVS 2015 Annual Report Download - page 59

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57
2015 Annual Report
Consolidated Statements of Shareholders’ Equity
SHARES DOLLARS
YEAR ENDED DECEMBER 31, YEAR ENDED DECEMBER 31,
IN MILLIONS 2015 2014 2013 2015 2014 2013
Common stock:
Beginning of year
1,691
1,680 1,667
$ 17
$ 17 $ 17
Stock options exercised and issuance
of stock awards
8
11 13
—
— —
End of year
1,699
1,691 1,680
$ 17
$ 17 $ 17
Treasury stock:
Beginning of year
(550)
(500) (435)
$ (24,078)
$ (20,169) $ (16,270)
Purchase of treasury shares
(48)
(51) (66)
(4,856)
(4,001) (3,976)
Employee stock purchase plan issuances
1
1 1
48
92 77
End of year
(597)
(550) (500)
$ (28,886)
$ (24,078) $ (20,169)
Shares held in trust:
Balance at beginning and end of year
(1)
(1) (1)
$ (31)
$ (31) $ (31)
Capital surplus:
Beginning of year
$ 30,418
$ 29,777 $ 29,120
Stock option activity and stock awards
533
535 588
Excess tax benefit on stock options and stock awards
142
106 69
Portion of accelerated share repurchase not settled
(145)
— —
End of year
$ 30,948
$ 30,418 $ 29,777
Retained earnings:
Beginning of year
$ 31,849
$ 28,493 $ 24,998
Changes in inventory accounting principles (Note 2)
(4)
— —
Net income attributable to CVS Health
5,237
4,644 4,592
Common stock dividends
(1,576)
(1,288) (1,097)
End of year
$ 35,506
$ 31,849 $ 28,493
Accumulated other comprehensive loss:
Beginning of year
$ (217)
$ (149) $ (181)
Foreign currency translation adjustments, net of tax
(100)
(35) (30)
Net cash flow hedges, net of tax
2
4 3
Pension and other postretirement benefits, net of tax
(43)
(37) 59
End of year
$ (358)
$ (217) $ (149)
Total CVS Health shareholders’ equity
$ 37,196
$ 37,958 $ 37,938
Noncontrolling interest:
Beginning of year
$ 5
$ — $ —
Business combinations
1
5 —
Capital contributions
2
— —
Net income attributable to noncontrolling interest (1)
1
— —
Distributions
(2)
— —
End of year
$ 7
$ 5 $ —
Total shareholders’ equity
$ 37,203
$ 37,963 $ 37,938
(1) Excludes $1 million attributable to redeemable noncontrolling interest (See Note 1 – “Significant Accounting Policies”).
See accompanying notes to consolidated financial statements.