Lockheed Martin 2008 Annual Report Download - page 74
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Consolidated Statement of Stockholders’ Equity
(In millions, except per share data)
Common
Stock
Additional
Paid-In
Capital
Retained
Earnings
Accumulated
Other
Comprehensive
Income (Loss) Other
Total
Stockholders’
Equity
Compre-
hensive
Income
(Loss)
Balance at December 31, 2005 $432 $ 1,724 $ 7,278 $(1,553) $ (14) $ 7,867
Net earnings — — 2,529 — — 2,529 $ 2,529
Common stock dividends declared
($1.25 per share) — — (538) — — (538) —
Repurchases of common stock (28) (2,076) — — — (2,104) —
Stock-based awards and ESOP activity 17 1,107 — — 14 1,138 —
Other comprehensive income (loss):
Minimum pension liability, net of tax
of $712 million — — — 1,186 — 1,186 1,186
Reclassification adjustment related to
available-for-sale investments, net
of tax benefit of $54 million — — — (92) — (92) (92)
Other, net of tax benefit of $18
million — — — (33) — (33) (33)
Adjustment for adoption of FAS 158,
net of tax benefit of $1,696 million — — — (3,069) — (3,069) —
Balance at December 31, 2006 421 755 9,269 (3,561) — 6,884 $ 3,590
Net earnings — — 3,033 — — 3,033 $ 3,033
Common stock dividends declared
($1.47 per share) — — (615) — — (615) —
Repurchases of common stock (22) (1,634) (471) — — (2,127) —
Stock-based awards and ESOP activity 10 879 — — — 889 —
Adoption of FIN 48 — — 31 — — 31 —
Other comprehensive income (loss):
Postretirement benefit plans:
Unrecognized amounts in 2007, net
of tax of $840 million — — — 1,527 — 1,527 1,527
Reclassification adjustment for
recognition of prior period
amounts, net of tax of $98
million — — — 179 — 179 179
Other, net of tax of $7 million — — — 4 — 4 4
Balance at December 31, 2007 409 — 11,247 (1,851) — 9,805 $ 4,743
Net earnings — — 3,217 — — 3,217 $ 3,217
Common stock dividends declared
($1.83 per share) — — (737) — — (737) —
Repurchases of common stock (29) (796) (2,106) — — (2,931) —
Stock-based awards and ESOP
activity 8 738 — — — 746 —
Conversion of debentures
Other comprehensive income (loss):
5 58 — — — 63 —
Postretirement benefit plans:
Unrecognized amounts in 2008,
net of tax benefit of $4,011
million — — — (7,299) — (7,299) (7,299)
Reclassification adjustment for
recognition of prior period
amounts, net of tax of $25
million — — — 46 — 46 46
Foreign exchange translation
adjustment
Other, net of tax of $16 million
—
—
—
—
—
—
(74)
29
—
—
(74)
29
(74)
29
Balance at December 31, 2008 $393 $ — $11,621 $(9,149) $ — $ 2,865 $(4,081)
See accompanying Notes to Consolidated Financial Statements.
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