Macy's 2008 Annual Report Download - page 55

MACY’S, INC.
CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS’ EQUITY
(millions)
Common
Stock
Additional
Paid-In
Capital
Accumulated
Equity
Treasury
Stock
Accumulated
Other
Comprehensive
Income (Loss)
Total
Shareholders’
Equity
Balance at January 28, 2006 ......................... $6 $9,238 $ 5,654 $(1,091) $(288) $13,519
Net income ...................................... 995 995
Minimum pension liability adjustment, net of income tax
effect of $151 million ............................ 244 244
Unrealized gain on marketable securities, net of income tax
effect of $23 million ............................. 36 36
Total comprehensive income ........................ 1,275
Adjustment to initially apply SFAS No. 158, net of income
tax effect of $115 million ......................... (174) (174)
Common stock dividends ($.5075 per share) ............ (274) (274)
Stock repurchases ................................. (2,500) (2,500)
Stock-based compensation expense ................... 50 50
Stock issued under stock plans ....................... 158 159 317
Deferred compensation plan distributions .............. 1 1
Income tax benefit related to stock plan activity ......... 40 40
Balance at February 3, 2007, as previously reported ...... 6 9,486 6,375 (3,431) (182) 12,254
Cumulative effect of adopting new accounting
pronouncements ................................ – – (6) – 29 23
Balance at February 3, 2007, as revised ................ 6 9,486 6,369 (3,431) (153) 12,277
Net income ...................................... 893 893
Actuarial loss on post employment and postretirement
benefit plans, net of income tax effect of $4 million .... (6) (6)
Unrealized loss on marketable securities, net of income tax
effect of $22 million ............................. (35) (35)
Reclassifications to net income:
Net actuarial loss on post employment and
postretirement benefit plans, net of income tax
effect of $9 million .......................... 14 14
Prior service credit on post employment and
postretirement benefit plans, net of income tax
effect of $1 million .......................... (2) (2)
Total comprehensive income ........................ 864
Common stock dividends ($.5175 per share) ............ (230) (230)
Stock repurchases ................................. (3,322) (3,322)
Stock-based compensation expense ................... 67 67
Stock issued under stock plans ....................... (73) 278 205
Retirement of common stock ........................ (1) (3,915) 3,916 –
Deferred compensation plan distributions .............. 2 2
Income tax benefit related to stock plan activity ......... 44 44
Balance at February 2, 2008 ......................... 5 5,609 7,032 (2,557) (182) 9,907
Net loss ......................................... (4,803) (4,803)
Actuarial loss on post employment and postretirement
benefit plans, net of income tax effect of $183 million . . (294) (294)
Unrealized loss on marketable securities, net of income tax
effect of $11 million ............................. (17) (17)
Reclassifications to net loss:
Realized loss on marketable securities, net of income
tax effect of $5 million ....................... 7 7
Net actuarial loss on post employment and
postretirement benefit plans, net of income tax
effect of $1 million .......................... 1 1
Prior service credit on post employment and
postretirement benefit plans, net of income tax
effect of $1 million .......................... (1) (1)
Total comprehensive loss ........................... (5,107)
Common stock dividends ($.5275 per share) ............ (221) (221)
Stock repurchases ................................. (1) (1)
Stock-based compensation expense ................... 61 61
Stock issued under stock plans ....................... (7) 13 6
Deferred compensation plan distributions .............. 1 1
Balance at January 31, 2009 ......................... $5 $5,663 $ 2,008 $(2,544) $(486) $ 4,646
The accompanying notes are an integral part of these Consolidated Financial Statements.
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