Kraft 2009 Annual Report Download - page 83

Note 9. Accumulated Other Comprehensive Earnings / (Losses):
The components of accumulated other comprehensive earnings / (losses) were:
Currency
Translation
Adjustments
Pension and
Other Benefits
Derivatives
Accounted for
as Hedges Total
(in millions)
Balances at January 1, 2007 $ (723) $ (2,342) $ (4) $ (3,069)
Other comprehensive earnings /
(losses), net of income taxes:
Currency translation adjustments 672 (78) - 594
Amortization of experience losses
and prior service costs - 154 - 154
Settlement losses - 45 - 45
Net actuarial gain arising during
period - 410 - 410
Change in fair value of cash
flow hedges - - 31 31
Total other comprehensive earnings 1,234
Balances at December 31, 2007 $ (51) $ (1,811) $ 27 $ (1,835)
Other comprehensive earnings /
(losses), net of income taxes:
Currency translation adjustments (2,348) 114 - (2,234)
Amortization of experience losses
and prior service costs - 98 - 98
Settlement losses - 48 - 48
Net actuarial loss arising during
period - (2,021) - (2,021)
Change in fair value of cash
flow hedges - - (50) (50)
Total other comprehensive losses (4,159)
Balances at December 31, 2008 $ (2,399) $ (3,572) $ (23) $ (5,994)
Other comprehensive earnings /
(losses), net of income taxes:
Currency translation adjustments 1,893 (116) - 1,777
Amortization of experience losses
and prior service costs - 126 - 126
Settlement losses - 76 - 76
Net actuarial loss arising during
period - (64) - (64)
Change in fair value of cash
flow hedges - - 124 124
Total other comprehensive earnings 2,039
Balances at December 31, 2009 $ (506) $ (3,550) $ 101 $ (3,955)
Note 10. Stock Plans:
At our 2009 annual meeting, our shareholders approved the Kraft Foods Inc. Amended and Restated 2005 Performance Incentive Plan (the "2005
Plan"). The 2005 Plan includes, among other provisions, a limit on the number of shares that may be granted under the plan, vesting restrictions
and a prohibition on stock option repricing. Under the 2005 Plan, we may grant to eligible employees awards of stock options, stock appreciation
rights, restricted stock, restricted and deferred stock units, and other awards based on our Common Stock, as well as performance-based annual
and long-term incentive awards. We are authorized to issue a maximum of 168.0 million shares of our Common Stock under the 2005 Plan. As of
the effective date of the amendment, there were 92.1 million shares available to be granted under the 2005 Plan, of which no more than
27.5 million shares may be awarded as restricted or deferred stock. In addition, under the Kraft Foods 2006 Stock Compensation Plan for
Non-Employee Directors (the “2006 Directors Plan”), we may grant up to 500,000 shares of Common Stock to members of the Board of Directors
who are not our full-time employees. At December 31, 2009, there were
80
Source: KRAFT FOODS INC, 10-K, February 25, 2010 Powered by Morningstar® Document Research℠