Pizza Hut 2010 Annual Report Download - page 202
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105
Note 16 – Shareholders’ Equity
Under the authority of our Board of Directors, we repurchased shares of our Common Stock during 2010 and 2008. All
amounts exclude applicable transaction fees. There were no shares of our Common Stock repurchased during 2009.
Shares Repurchased
(
thousands
)
Dollar Value of Shares
Repurchased
Authorization Date 2010 2009 2008 2010 2009 2008
March 2010 2,161 —
—
$ 10
7
$
—
$
—
September 2009 7,598 —
—
283
—
—
January 2008
—
— 23,943
—
—
80
2
October 2007
—
— 22,875
—
—
813
Total 9,75
9
— 46,818 $ 39
0
(a) $
—
$ 1,615(b)
(a)
A
mount includes the effect of $19 million in share repurchases (0.4 million shares) with trade dates prior to the
2
010 fiscal year end but cash settlement dates subsequent to the 2010 fiscal year.
(b)
A
mount excludes the effect of $13 million in share repurchases (0.4 million shares) with trade dates prior to the
2
007 fiscal year end but cash settlement dates subsequent to the 2007 fiscal year end.
As of December 25, 2010, we have $193 million available for future repurchases under our March 2010 share repurchase
authorization. Additionally, on January 27, 2011, our Board of Directors authorized share repurchases through July 2012
of up to $750 million (excluding applicable transaction fees) of our outstanding Common Stock.
Accumulated Other Comprehensive Income (Loss) – Comprehensive income is Net Income plus certain other items that
are recorded directly to Shareholders’ Equity. The following table gives further detail regarding the composition of
accumulated other comprehensive loss at December 25, 2010 and December 26, 2009. Refer to Note 14 for additional
information about our pension and post-retirement plan accounting and Note 12 for additional information about our
derivative instruments.
2010 2009
Foreign currency translation adjustment
$
55 $ 47
Pension and post-retirement losses, net of tax (269
)
(259)
N
et unrealized losses on derivative instruments, net of tax (13
)
(12)
Total accumulated other comprehensive loss
$
(227
)
$ (224)
Form 10-K