Northrop Grumman 2011 Annual Report Download - page 72

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NORTHROP GRUMMAN CORPORATION
CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS’ EQUITY
Year Ended December 31
$ in millions, except per share amounts 2011 2010 2009
Common Stock
At beginning of year $ 291 $ 307 $ 327
Common stock repurchased (40) (20) (23)
Employee stock awards and options 343
At end of year 254 291 307
Paid-in Capital
At beginning of year 7,778 8,657 9,645
Common stock repurchased (2,264) (1,143) (1,098)
Employee stock awards and options exercised 236 264 110
Spin-off of Shipbuilding business (1,877)
At end of year 3,873 7,778 8,657
Retained Earnings
At beginning of year (Note 10) 8,124 6,616 5,469
Net earnings 2,118 2,053 1,686
Cash dividends declared (543) (545) (539)
At end of year 9,699 8,124 6,616
Accumulated Other Comprehensive Loss
At beginning of year (2,757) (3,014) (3,642)
Other comprehensive (loss) income, net of tax (1,257) 257 628
Spin-off of Shipbuilding business 524
At end of year (3,490) (2,757) (3,014)
Total shareholders’ equity $10,336 $13,436 $12,566
Cash dividends declared per share $ 1.97 $ 1.84 $ 1.69
The accompanying notes are an integral part of these consolidated financial statements.
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