Saks Fifth Avenue 2011 Annual Report Download - page 50

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SAKS INCORPORATED & SUBSIDIARIES
CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS’ EQUITY
(In thousands)
Additional
Paid-In
Capital
Accumulated
Deficit
Accumulated
Other
Comprehensive
Loss (1)
Total
Shareholders’
Equity
Common Stock
Shares Amount
Balance at January 31, 2009 .................. 142,170 $ 14,218 $ 1,148,227 $ (115,423) $ (56,436) $ 990,586
Net loss .................................. (57,919) (57,919)
Net gain arising during the period ............ 4,690
Amortization of net loss included in net periodic
benefit cost ........................... 7,828
Income tax effect ......................... (4,882)
Change in minimum pension liability, net of tax . . . 7,636 7,636
Comprehensive loss ......................... (50,283)
Issuance of 7.5% convertible notes ............. 21,147 21,147
Issuance of common stock, net ................ 15,097 1,509 94,689 96,198
Net activity under stock compensation plans ..... 2,608 261 (261) —
Shares withheld for employee taxes ............ (89) (9) (384) (393)
Income tax effect of stock compensation plans . . . (2,491) (2,491)
Stock-based compensation ................... 16,846 16,846
Balance at January 30, 2010 .................. 159,786 $ 15,979 $ 1,277,773 $ (173,342) $ (48,800) $ 1,071,610
Net income ............................... 47,846 47,846
Net loss arising during the period ............ (1,840)
Amortization of net loss included in net periodic
benefit cost ........................... 6,281
Income tax effect ......................... (1,732)
Change in minimum pension liability, net of tax . . . 2,709 2,709
Comprehensive income ...................... 50,555
Issuance of common stock ................... 2,064 206 21,057 21,263
Net activity under stock compensation plans ..... 1,370 137 (137) —
Shares withheld for employee taxes ............ (321) (32) (2,564) (2,596)
Income tax effect of stock compensation plans . . . 5,967 5,967
Stock-based compensation ................... 16,766 16,766
Balance at January 29, 2011 .................. 162,899 $ 16,290 $ 1,318,862 $ (125,496) $ (46,091) $ 1,163,565
Net income ............................... 74,790 74,790
Net loss arising during the period ............ (16,602)
Amortization of net loss included in net periodic
benefit cost ........................... 2,254
Income tax effect ......................... 5,734
Change in minimum pension liability, net of tax . . . (8,614) (8,614)
Comprehensive income ...................... 66,176
Issuance of common stock ................... 183 18 498 516
Net activity under stock compensation plans ..... 891 89 (89) —
Shares withheld for employee taxes ............ (393) (39) (4,345) (4,384)
Income tax effect of stock compensation plans . . . (5) (5)
Stock-based compensation ................... 15,597 15,597
Repurchase of common stock ................. (3,537) (354) (28,578) (28,932)
Deferred tax adjustment related to convertible
notes .................................. (5,749) (5,749)
Balance at January 28, 2012 .................. 160,043 $ 16,004 $ 1,296,191 $ (50,706) $ (54,705) $ 1,206,784
(1) Accumulated Other Comprehensive Loss is composed of net gains and losses associated with the Company’s defined
benefit pension plan.
The accompanying notes are an integral part of these consolidated financial statements.
F-5