Lifetime Fitness 2006 Annual Report Download - page 45

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39
LIFE TIME FITNESS, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF SHAREHOLDERS’ EQUITY
Common Stock
Additional
Paid-In
Deferred Retained
Shares Amount Capital Compensation Earnings Total
(In thousands, except share data)
BALANCE — December 31, 2003......................... 16,146,607 $ 323 $ 17,714 $ — $ 14,755 $ 32,792
Common stock issued upon initial public
offering ............................................................. 4,774,941
95
80,303
—
—
80,398
Tax benefit from expenses incurred upon
initial public offering ........................................ —
—
88
—
—
88
Conversion of redeemable preferred stock to
common stock upon initial public offering ....... 12,629,233
253
109,482
—
—
109,735
Common stock issued upon exercise of stock
options .............................................................. 233,801
5
1,056
—
—
1,061
Grant of restricted stock....................................... 7,028 — 142 (142) — —
Compensation related to stock options and
restricted stock.................................................. — — 277 76 — 353
Tax benefit upon exercise of stock options.......... — — 869 — — 869
Accretion on redeemable preferred stock............. — — — — (3,570) (3,570)
Net income........................................................... — — — — 28,908 28,908
BALANCE — December 31, 2004......................... 33,791,610 676 209,931 (66) 40,093 250,634
Common stock issued upon exercise of stock
options .............................................................. 1,698,714
34
6,149
—
—
6,183
Grant of restricted stock....................................... 80,243 2 2,625 (2,627) — —
Compensation related to stock options and
restricted stock.................................................. — — 255 387 — 642
Tax benefit upon exercise of stock options.......... — — 9,172 — — 9,172
Net income........................................................... — — — — 41,213 41,213
BALANCE — December 31, 2005......................... 35,570,567 712 228,132 (2,306) 81,306 307,844
Reclassification of deferred compensation to
additional paid-in capital
— — (2,306) 2,306 — —
Common stock issued upon exercise of stock
options ..............................................................
1,090,788 22 15,242 — — 15,264
Grant of restricted stock....................................... 156,164 3 (3) — — —
Forfeiture of restricted stock ................................ (320) — — — — —
Compensation related to stock options and
restricted stock.................................................. — — 7,556 — — 7,556
Capitalized compensation related to stock
options and restricted stock............................... — — 1,055 — — 1,055
Tax benefit upon exercise of stock options.......... — — 10,229 — — 10,229
Net income........................................................... — — — — 50,565 50,565
BALANCE — December 31, 2006......................... 36,817,199 $ 737 $ 259,905 $ — $ 131,871 $392,513
See notes to consolidated financial statements.