Hertz 2009 Annual Report Download - page 116

HERTZ GLOBAL HOLDINGS, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY
(In Thousands of Dollars, except share data)
Retained Accumulated
Additional Earnings Other Non-
Number Common Preferred Paid-In (Accumulated Comprehensive controlling Total
of Shares Stock Stock Capital Deficit) Income (Loss) Interest Equity
Balance at:
December 31, 2006 ............ 320,618,692 $3,206 $ — $2,427,293 $ 9,535 $ 94,528 $ 14,813 $ 2,549,375
Net income attributable to Hertz
Global Holdings, Inc. and
Subsidiaries’ common stockholders . 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
Dividend payment to noncontrolling
interest ................. (13,475) (13,475)
Net income relating to noncontrolling
interest ................. 19,690 19,690
Stock-based employee compensation
charges ................. 32,939 32,939
Exercise of stock options ........ 1,227,950 13 5,586 5,599
Cumulative effect of the adoption of
FIN 48 (incorporated in ASC 740-10) . (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 21,028 2,934,417
Net loss attributable to Hertz Global
Holdings, Inc. and Subsidiaries’
common stockholders ........ (1,206,746) (1,206,746)
Change in fair value of derivatives
qualifying as cash flow hedges, net
of tax of $28,429 ............ (44,012) (44,012)
Translation adjustment changes .... (163,359) (163,359)
Unrealized holding gains on securities,
net of tax of $6 ............. 120 120
Unrealized gain on Euro-denominated
debt, net of tax of $5,665 ....... 12,116 12,116
Defined benefit pension plans:
Amortization or settlement
recognition of net loss ....... 505 505
Net loss arising during the period . . (114,279) (114,279)
Income tax related to defined
pension plans ............ 38,267 38,267
Defined benefit pension plans, net . . . (75,507) (75,507)
Total Comprehensive Loss ....... (1,477,388)
Dividend payment to noncontrolling
interest ................. (24,150) (24,150)
Net income relating to noncontrolling
interest ................. 20,786 20,786
Stock-based employee compensation
charges, net of tax of $643 ...... 27,380 27,380
Exercise of stock options ........ 1,086,360 11 6,743 6,754
Common shares issued to Directors . . 38,856 243 243
Phantom shares issued to Directors . . 150 150
Proceeds from disgorgement of
stockholder short-swing profits, net
of tax of $48 .............. 90 90
December 31, 2008 ............ 322,987,299 $3,230 $ —$2,503,819 $ (936,296) $(100,135) $ 17,664 $ 1,488,282
The accompanying notes are an integral part of these financial statements.
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