Pizza Hut 2009 Annual Report Download - page 192
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101
Note 18 – Shareholders’ Equity
There were no shares of our Common Stock repurchased during 2009. Under the authority of our Board of Directors, we
repurchased shares of our Common Stock during 2008 and 2007. All amounts exclude applicable transaction fees.
Shares Repurchased
(
thousands
)
Dollar Value of Shares
Repurchased
Authorization Date 2009 2008 2007 2009 2008 2007
September 2009
—
—
—
$
—
$
—
$
—
January 2008
—
23,943
—
—
80
2
—
October 2007
—
22,875 11,431
—
813 437
March 2007
—
— 15,09
2
—
—
500
September 2006
—
— 15,27
4
—
—
46
9
Total
—
46,818 41,79
7
$
—
$ 1,615(a) $ 1,40
6
(b)
(a)
A
mount excludes the effect of $13 million in share repurchases (0.4 million shares) with trade dates prior to the
2007 fiscal year end but cash settlement dates subsequent to the 2007 fiscal year end.
(b)
A
mount excludes the effects of $17 million in share repurchases (0.6 million shares) with trade dates prior to the
2006 fiscal year end but cash settlement dates subsequent to the 2006 fiscal year end and includes the effect of
$
13 million in share repurchases (0.4 million shares) with trade dates prior to the 2007 fiscal year end but cash
s
ettlement dates subsequent to the 2007 fiscal year.
As of December 26, 2009, we have $300 million available for future repurchases under our September 2009 share
repurchase authorization.
Accumulated Other Comprehensive Income (Loss)
– Comprehensive income is Net Income plus certain other items that
are recorded directly to shareholders’ equity. Amounts included in accumulated other comprehensive loss for the
Company’s derivative instruments and unrecognized pension and post-retirement losses are recorded net of the related
income tax effects. Refer to Note 15 for additional information about our pension accounting and Note 13 for additional
information about our derivative instruments. The following table gives further detail regarding the composition of
accumulated other comprehensive income (loss) at December 26, 2009 and December 27, 2008.
2009 2008
Foreign currency translation adjustment
$
47 $ (129)
Pension and post-retirement losses, net of tax (259
)
(272)
N
et unrealized losses on derivative instruments, net of tax (12
)
(17)
Total accumulated other comprehensive income (loss)
$
(224
)
$ (418)
Form 10-K