National Grid 2008 Annual Report Download - page 295

BOWNE INTEGRATED TYPESETTING SYSTEM
CRC: 23013
Name: NATIONAL GRID
Date: 17-JUN-2008 03:10:51.35Operator: BNY99999TPhone: [phone]Site: BOWNE OF NEW YORK
Y59930.SUB, DocName: EX-2.B.6.1, Doc: 6, Page: 89
Description: EXH 2(B).6.1
0/2693.00.00.00Y59930BNY
[E/O] EDGAR 2 *Y59930/693/2*
BOWNE INTEGRATED TYPESETTING SYSTEM
CRC: 23013
Name: NATIONAL GRID
Date: 17-JUN-2008 03:10:51.35Operator: BNY99999TPhone: [phone]Site: BOWNE OF NEW YORK
Y59930.SUB, DocName: EX-2.B.6.1, Doc: 6, Page: 89 Description: EXH 2(B).6.1
0/2693.00.00.00Y59930BNY
[E/O] EDGAR 2 *Y59930/693/2*
NATIONAL GRID USA AND SUBSIDIARY COMPANIES
Consolidated Statements of Comprehensive Income
(In thousands of dollars)
Consolidated Statements of Retained Earnings
(In thousands of dollars)
The accompanying notes are an integral part of these consolidated financial statements.
F-4
For the years ended
March 31,
2007 2006
Net income $ 353,390 $ 562,065
Other comprehensive income (loss):
Unrealized
g
ains on securities, net of taxes 6,003 6,217
Hedging activity, net of taxes (17,526) 4,009
Chan
g
e in additional minimum
p
ension liabilit
y
(
6,278
)
182,489
Reclassification adjustment for gains (losses) included in net income, net of taxes 18,464 (24,810)
Total other comprehensive income 663 167,905
Comprehensive income $ 354,053 $ 729,970
Adjustment to initially apply SFAS No. 158 (398,145) —
Chan
g
e in accumulated other com
p
rehensive income
(
loss
)
$
(
397,482
)
$ 167,905
For the
y
ears ended
March 31,
2007 2006
Retained earnin
g
s at be
g
innin
g
of
p
eriod $ 1,484,597 $980,101
Net income 353,390 562,065
Dividends on
p
referred stock
(
2,096
)
(
2,210
)
Dividends on common stock (286,052) (55,000)
Other 139
(
359
)
Retained earnin
g
s at end of
p
eriod $ 1,549,978 $ 1,484,597