Red Lobster 2009 Annual Report Download - page 45

2009 Annual Report Darden Restaurants, Inc. 43
Common Accumulated Other Total
Stock and Retained Treasury Comprehensive Unearned Officer Notes Stockholders’
(In millions, except per share data) Surplus Earnings Stock Income (Loss) Compensation Receivable Equity
Balances at May 28, 2006 $1,806.4 $1,684.7 $(2,211.2) $ (5.5) $(44.2) $(0.4) $1,229.8
Comprehensive income:
Net earnings – 201.4 – – – – 201.4
Other comprehensive income (loss):
Foreign currency adjustment – – – 0.5 – – 0.5
Change in fair value of derivatives,
net of tax of 1.9 – – – 4.0 – – 4.0
Total comprehensive income 205.9
Adjustment related to adoption of recognition of
SFAS No. 158, net of tax of $19.6 – – – (31.8) – – (31.8)
Cash dividends declared ($0.46 per share) – (65.7) – – – – (65.7)
Stock option exercises (3.6 shares) 46.1 – 4.8 – – – 50.9
Reclassification of unearned compensation
(transition of SFAS No. 123(R)) (20.2) – – – 20.2 – –
Stock-based compensation 26.2 – – – – – 26.2
ESOP note receivable repayments – – – – 3.3 – 3.3
Income tax benefits credited to equity 40.0 – – – – – 40.0
Purchases of common stock for treasury (9.4 shares) – – (371.2) – – – (371.2)
Issuance of treasury stock under Employee Stock
Purchase Plan and other plans (0.2 shares) 5.8 – 1.1 – 0.1 – 7.0
Repayment of officer notes – – – – – 0.1 0.1
Balances at May 27, 2007 $1,904.3 $1,820.4 $(2,576.5) $(32.8) $(20.6) $(0.3) $1,094.5
Comprehensive income:
Net earnings – 377.2 – – – – 377.2
Other comprehensive income (loss):
Foreign currency adjustment – – – 3.3 – – 3.3
Change in fair value of derivatives,
net of tax of $2.6 – – – 0.7 – – 0.7
Benefit plans, net of tax of $5.0 – – – 8.1 – – 8.1
Total comprehensive income 389.3
Adjustment related to adoption of FIN 48,
net of tax of $0.4 – (0.7) – – – – (0.7)
Cash dividends declared ($0.72 per share) – (100.9) – – – – (100.9)
Stock option exercises (3.3 shares) 53.6 – 7.9 – – – 61.5
Stock-based compensation 46.6 – – – – – 46.6
Stock-based awards included in cost of
RARE acquisition 40.5 – – – – – 40.5
ESOP note receivable repayments – – – – 3.6 – 3.6
Income tax benefits credited to equity 23.5 – – – – – 23.5
Purchases of common stock for treasury (5.0 shares) – – (159.4) – – – (159.4)
Issuance of treasury stock under Employee
Stock Purchase Plan and other plans (0.2 shares) 6.4 – 4.0 – – – 10.4
Repayment of officer notes – – – – – 0.2 0.2
Balances at May 25, 2008 $2,074.9 $2,096.0 $(2,724.0) $(20.7) $(17.0) $(0.1) $1,409.1
Comprehensive income:
Net earnings – 372.2 – – – – 372.2
Other comprehensive income (loss):
Foreign currency adjustment – – – (2.7) – – (2.7)
Change in fair value of marketable securities,
net of tax of $0.2 – – – (0.3) – – (0.3)
Change in fair value of derivatives,
net of tax of $2.9 – – – (2.8) – – (2.8)
Amortization of unrecognized net actuarial loss,
net of taxes $19.1 – – – (30.7) – – (30.7)
Total comprehensive income 335.7
Adjustment related to adoption of measurement date
provisions of SFAS No. 158, net of tax of $0.3 – (0.6) – – – – (0.6)
Cash dividends declared ($0.80 per share) – (110.2) – – – – (110.2)
Stock option exercises (3.3 shares) 48.1 – 2.7 – – – 50.8
Stock-based compensation 32.6 – – – – – 32.6
ESOP note receivable repayments – – – – 4.0 – 4.0
Income tax benefits credited to equity 22.2 – – – – – 22.2
Purchases of common stock for treasury (5.1 shares) – – (144.9) – – – (144.9)
Issuance of treasury stock under Employee
Stock Purchase Plan and other plans (0.3 shares) 5.3 – 2.0 – – – 7.3
Balances at May 31, 2009 $2,183.1 $2,357.4 $(2,864.2) $(57.2) $(13.0) $(0.1) $1,606.0
See accompanying notes to consolidated financial statements.
Consolidated Statements of Changes In Stockholders’ Equity and
Accumulated Other Comprehensive Income (Loss)