Comfort Inn 2004 Annual Report Download - page 28

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CHOICE HOTELS INTERNATIONAL, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF SHAREHOLDERS’ DEFICIT AND COMPREHENSIVE INCOME
(In thousands, except share amounts)
Common
Stock -
Shares
Outstanding
Common
Stock -
Par
Value
Additional
Paid-in-
Capital
Accumulated
Other
Comprehensive
Income (Loss)
Deferred
Compensation
Treasury
Stock
Comprehensive
Income
Retained
Earnings Total
Balance as of December 31, 2001 ................ 41,997,637 $420 $70,130 $ (354) $(2,857) $(311,053) $179,175 $ (64,539)
Comprehensive income ........................
Net income .................................. — — — — — — $60,844 60,844 60,844
Other comprehensive income:
Foreign currency translation adjustments ....... — — — — — — 341 — 341
Amortization of deferred gain on hedge, net of
taxes ................................. — — — — — — (67) — (67)
Unrealized gain on available for sale securities,
net of taxes ............................ — — — — — — 122 — 122
Other comprehensive income ................ — — — 396 — — 396 — —
Comprehensive income ........................ $61,240
Exercise of stock options ....................... 442,869 4 1,762 — — 5,768 — 7,534
Issuance of restricted stock ...................... 109,894 1 — — (2,301) 2,300 — —
Stock compensation related to restructuring ........ — — 1,208 — — — — 1,208
Amortization of deferred compensation related to
restricted stock grants ........................ — — — — 1,666 — — 1,666
Treasury purchases ............................ (5,387,184) (54) — — — (120,854) — (120,908)
Balance as of December 31, 2002 ................ 37,163,216 $371 $73,100 $ 42 $(3,492) $(423,839) $240,019 $(113,799)
Comprehensive income
Net income .................................. — — — — — — $71,863 71,863 71,863
Other comprehensive income:
Foreign currency translation adjustments ....... — — — — — — 1,101 — 1,101
Amortization of deferred gain on hedge, net of
taxes ................................. — — — — — — (67) — (67)
Unrealized gain on available for sale securities,
net of taxes ............................ — — — — — — 62 — 62
Other comprehensive income ................ — — — 1,096 — — 1,096 — —
Comprehensive income ........................ $72,959
Exercise of stock options ....................... 462,522 5 198 — — 7,845 — 8,048
Issuance and cancellation of restricted stock ........ 7,428 — (108) — (72) 180 — —
Stock compensation related to stock options ........ — — 1,306 — — — — 1,306
Amortization of deferred compensation related to
restricted stock grants ........................ — — — — 923 — — 923
Dividends declared ............................ — — — — — — (6,899) (6,899)
Treasury purchases ............................ (2,887,313) (29) — — — (80,696) — (80,725)
Balance as of December 31, 2003 ................ 34,745,853 $347 $74,496 $1,138 $(2,641) $(496,510) $304,983 $(118,187)
Comprehensive income
Net income .................................. — — — — — — $74,345 74,345 74,345
Other comprehensive income:
Foreign currency translation adjustments .... — — — — — — 188 — 188
Amortization of deferred gain on hedge, net of
taxes ................................. — — — — — — (67) — (67)
Unrealized gain on available for sale
securities, net of taxes ................... — — — — — — 141 — 141
Other comprehensive income .............. — — — 262 — — 262 — —
Comprehensive income ....................... $74,607
Exercise of stock options ...................... 557,107 6 7,332 — — 5,564 — 12,902
Issuance and cancellation of restricted stock ...... 202,405 2 (43) — (7,894) 7,935 — —
Stock compensation related to stock options ...... — — 1,518 — — — — 1,518
Amortization of deferred compensation related to
restricted stock grants ...................... — — — — 2,501 — — 2,501
Dividends declared ........................... — — — — — — (28,061) (28,061)
Treasury purchases .......................... (3,192,932) (32) — — — (148,301) — (148,333)
Balance as of December 31, 2004 ............... 32,312,433 $323 $83,303 $1,400 $(8,034) $(631,312) $351,267 $(203,053)
The accompanying notes are an integral part of these consolidated financial statements.
F-20