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Lexmark International, Inc. and Subsidiaries
CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY AND COMPREHENSIVE EARNINGS
For the years ended December 31, 2009, 2008 and 2007
(In Millions)
Shares Amount
Capital in
Excess
of Par
Retained
Earnings
Treasury
Stock
Accumulated
Other
Comprehensive
Earnings
(Loss)
Total
Stockholders’
Equity
Class A
and B
Common Stock
Balance at December 31, 2006 ...................... 97.0 $ 1.1 $ 827.3 $ 627.5 $(289.8) $(130.9) $1,035.2
Comprehensive earnings, net of taxes . . . . . . . . . . . . .......
Net earnings . . . . . . . . . . . . .................... 300.8 300.8
Other comprehensive earnings (loss):
Pension or other postretirement benefits, net of reclass ....... 17.5
Cash flow hedges, net of reclassifications . . . . . . . . ....... (0.7)
Translation adjustment, net of reclassification . . . . . . ....... 22.5
Net unrealized gain (loss) on marketable securities . . ....... —
Other comprehensive earnings (loss) . . . . . . . . . . . ....... 39.3 39.3
Comprehensive earnings, net of taxes . . . . . . . . . . . . ....... 340.1
Adoption of new guidance — Uncertainty in income taxes
(1)
....... 7.4 7.4
Shares issued under deferred stock plan compensation . . ....... 0.1 0.1
Shares issued upon exercise of options . . . . . . . . . . . ....... 0.3 10.0 10.0
Shares issued under employee stock purchase plan . . . . ....... 0.1 5.6 5.6
Tax benefit (shortfall) related to stock plans . . . . . . . . . ....... 3.6 3.6
Stock-based compensation . . . . . .................... 41.2 41.2
Treasury shares purchased . . . . . .................... (2.7) (165.0) (165.0)
Treasury shares issued . . . . . . . . .................... — 0.1 0.1
Balance at December 31, 2007 ...................... 94.7 1.1 887.8 935.7 (454.7) (91.6) 1,278.3
Comprehensive earnings, net of taxes . . . . . . . . . . . . .......
Net earnings . . . . . . . . . . . . .................... 240.2 240.2
Other comprehensive earnings (loss):
Pension or other postretirement benefits, net of reclass ....... (124.0)
Cash flow hedges, net of reclassifications . . . . . . . . ....... —
Translation adjustment . . . . . .................... (63.4)
Net unrealized gain (loss) on marketable securities . . ....... (1.3)
Other comprehensive earnings (loss) . . . . . . . . . . . ....... (188.7) (188.7)
Comprehensive earnings, net of taxes . . . . . . . . . . . . ....... 51.5
Shares issued under deferred stock plan compensation . . ....... 0.2 —
Shares issued upon exercise of options . . . . . . . . . . . ....... 0.2 4.2 4.2
Shares issued under employee stock purchase plan . . . . ....... 0.1 2.1 2.1
Tax benefit (shortfall) related to stock plans . . . . . . . . . ....... (2.2) (2.2)
Stock-based compensation . . . . . .................... 32.7 32.7
Treasury shares purchased . . . . . .................... (17.5) (554.5) (554.5)
Treasury shares issued . . . . . . . . .................... —
Treasury shares retired . . . . . . . . .................... (0.2) (121.1) (483.4) 604.7 —
Balance at December 31, 2008 ...................... 77.7 0.9 803.5 692.5 (404.5) (280.3) 812.1
Comprehensive earnings, net of taxes . . . . . . . . . . . . .......
Net earnings . . . . . . . . . . . . .................... 145.9 145.9
Other comprehensive earnings (loss):
Pension or other postretirement benefits, net of reclass ....... 8.7
Cash flow hedges, net of reclassifications . . . . . . . . ....... —
Translation adjustment . . . . . .................... 27.8
Net unrealized gain (loss) on OTTI mark sec, net of reclass . . . . 1.1
Net unrealized gain (loss) on marketable securities, net of
reclass . . . . . . . . . . . . . .................... 1.8
Other comprehensive earnings (loss) . . . . . . . . . . . ....... 39.4 39.4
Comprehensive earnings, net of taxes . . . . . . . . . . . . ....... 185.3
Adoption of new accounting guidance — OTTI
(2)
............. 1.4 (1.7) (0.3)
Shares issued under deferred stock plan compensation . . ....... 0.4 —
Tax benefit (shortfall) related to stock plans . . . . . . . . . ....... (3.9) (3.9)
Stock-based compensation . . . . . .................... 20.4 20.4
Balance at December 31, 2009 ...................... 78.1 $ 0.9 $ 820.0 $ 839.8 $(404.5) $(242.6) $1,013.6
(1) Adjustment to retained earnings related to the adoption of accounting guidance regarding uncertainty in income taxes was
$7.340 million
(2) Cumulative effect adjustment related to the adoption of accounting guidance regarding recognition and presentation of
other-than-temporary impairments
See notes to consolidated financial statements.
67