Hertz 2007 Annual Report Download - page 129

HERTZ GLOBAL HOLDINGS, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY
(In Thousands of Dollars, except share data)
Accumulated
Additional Retained Other Total
Number Common Preferred Paid-In Earnings Comprehensive Stockholders’
of Shares Stock Stock Capital (Deficit) Income (Loss) Equity
Predecessor
Balance at:
December 31, 2004 . . . . . . . . . . . . . . . ........ 100 $ — $ — $ 983,132 $ 1,479,217 $ 207,898 $ 2,670,247
Net income . . . . . . . . . . . . . . ............ 371,323 371,323
Change in fair value of derivatives qualifying as cash flow
hedges, net of tax of $281 . . . . . . ........... 424 424
Translation adjustment changes . .............. (123,893) (123,893)
Unrealized holding losses on securities, net of tax of $5 . . . (37) (37)
Minimum pension liability adjustment, net of tax of $5,891 . (12,076) (12,076)
Total Comprehensive Income . . . . . . ........... 235,741
Dividend to Ford Motor Company . . . . . ......... (1,185,000) (1,185,000)
December 20, 2005 . . . . . . . . . . . . . . . ........ 100 — — 983,132 665,540 72,316 1,720,988
Successor
Balance at:
December 21, 2005 . . . . . . . . . . . . . . . ........ — — — — — — —
Sale of common stock . . . . . . . . . . . . ........ 229,500,000 2,295 2,292,705 2,295,000
Net loss . . . . . . . . . . . . . . .............. (21,346) (21,346)
Change in fair value of derivatives qualifying as cash flow
hedges, net of tax of $2,704 . . . . . . . ......... (4,078) (4,078)
Translation adjustment changes . .............. (3,394) (3,394)
Total Comprehensive Loss . . . . . . . . . . ........ (28,818)
December 31, 2005 . . . . . . . . . . . . . . . ........ 229,500,000 2,295 — 2,292,705 (21,346) (7,472) 2,266,182
Net income . . . . . . . . . . . . . . ............ 115,943 115,943
Change in fair value of derivatives qualifying as cash flow
hedges, net of tax of $5,023 . . . . . . . ......... 7,621 7,621
Translation adjustment changes . .............. 95,023 95,023
Unrealized holding losses on securities, net of tax of $4 . . . (30) (30)
Unrealized loss on Euro-denominated debt, net of tax of
$4,648 . . . . . . . . . . . . . . . . . .......... (7,066) (7,066)
Minimum pension liability adjustment, net of tax of $9 . . . . 14 14
Total Comprehensive Income . . . . . . ........... 211,505
Sale of common stock in initial public offering ........ 88,235,000 882 1,259,384 1,260,266
Cash dividends ($4.32 and $1.12 per common share) . . . . (1,174,456) (85,062) (1,259,518)
Stock-based employee compensation . . .......... 25,452 25,452
Sale of stock under employee equity offering ........ 2,883,692 29 24,208 24,237
Adjustment to initially apply FASB Statement No. 158, net of
tax of $4,873 (revised) . . . . . . . . . .......... 6,438 6,438
December 31, 2006 . . . . . . . . . . . . . . . ........ 320,618,692 3,206 — 2,427,293 9,535 94,528 2,534,562
Net income . . . . . . . . . . . . . . ............ 264,559 264,559
Change in fair value of derivatives qualifying as cash flow
hedges, net of tax of $31,294 . .............. (49,142) (49,142)
Translation adjustment changes . .............. 126,279 126,279
Unrealized holding losses on securities, net of tax of $7 . . . (51) (51)
Unrealized loss on Euro-denominated debt, net of tax of
$13,611 . . . . . . . . . . . . . . . . . .......... (20,729) (20,729)
Defined benefit pension plans:
Prior service cost from plan curtailment . . . . ...... 20 20
Amortization or settlement recognition of net loss . . . . . 4,048 4,048
Net gain arising during the period . . . . ......... 21,914 21,914
Income tax related to defined pension plans ........ (6,360) (6,360)
Defined benefit pension plans, net . . . . . ......... 19,622 19,622
Total Comprehensive Income . . . . . . ........... 340,538
Stock-based employee compensation . . .......... 32,939 32,939
Exercise of stock options . . . . . . . . . .......... 1,227,950 13 5,586 5,599
Cumulative effect of the adoption of FIN 48 ......... (3,644) (3,644)
Common shares issued to Directors . . . . ......... 15,441 328 328
Phantom shares issued to Directors . . . . ......... 192 192
Proceeds from disgorgement of stockholder short-swing
profits, net of tax of $1,880 . . . . . . ........... 2,875 2,875
December 31, 2007 . . . . . . . . . . . . . . . ........ 321,862,083 $3,219 $ — $ 2,469,213 $ 270,450 $ 170,507 $ 2,913,389
The accompanying notes are an integral part of these financial statements.
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