Sara Lee 2008 Annual Report Download - page 44

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Consolidated Statements of Common Stockholders’ Equity
42 Sara Lee Corporation and Subsidiaries
Accumulated
Other
Common Capital Retained Unearned Comprehensive Comprehensive
Dollars in millions Total Stock Surplus Earnings Stock Income (Loss) Income
Balances at July 2, 2005 $2,577 $«8 $«««79 $4,206 $(155) $(1,561)
Net income 555 – – 555 – – $«««555
Translation adjustments, net of tax of $(43) 70–––– 70 70
Minimum pension liability, net of tax of $96 180––––180180
Net unrealized gain (loss) on qualifying cash flow
hedges, net of tax of $(18) (28)–––– (28) (28)
Comprehensive income $«««777
Dividends (456) – – (456) – –
Stock issuances – restricted stock 55–55–– –
Stock option and benefit plans 33–33–– –
Tax benefit related to stock-based compensation 1–1–– –
Share repurchases and retirement (561) – (107) (454) – –
ESOP tax benefit, redemptions and other 23–1418 –
Balances at July 1, 2006 2,449 8 62 3,855 (137) (1,339)
Adjustment to apply SAB No. 108 58––53– 5
Net income 504 – – 504 – – $«««504
Translation adjustments, net of tax of $(48) 504––––504504
Minimum pension liability, net of tax of $1 143––––143143
Net unrealized gain (loss) on qualifying cash flow
hedges, net of tax of $20 34–––– 34 34
Comprehensive income $1,185
Adjustment to apply SFAS No. 158,
net of tax of $(49) (168) ––––(168)
Dividends (370) – – (370) – –
Spin off of Hanesbrands Inc. business (29) – – (96) – 67
Stock issuances – restricted stock 29–29–– –
Stock option and benefit plans 47–47–– –
Tax benefit related to stock-based compensation 1–1–– –
Share repurchases and retirement (686) (1) (139) (546) – –
ESOP tax benefit, redemptions and other 27 – – 13 14 –
Balances at June 30, 2007 2,543 7 – 3,413 (123) (754)
Net loss (79) – – (79) – – $««««(79)
Translation adjustments, net of tax of $(14) 686––––686686
Net unrealized gain (loss) on qualifying cash flow
hedges, net of tax of $14 25–––– 25 25
Pension/Postretirement activity, net of tax of $4 192––––192192
Comprehensive income $«««824
Adoption of FASB Interpretation No. 48 13––13– –
Dividends (300) – – (300) – –
Stock issuances – restricted stock 25–25–– –
Stock option and benefit plans 9–9–– –
Share repurchases and retirement (315) – (27) (288) – –
ESOP tax benefit, redemptions and other 12––111 –
Balances at June 28, 2008 $2,811 $«7 $«««««7 $2,760 $(112) $««««149
The accompanying Notes to Financial Statements are an integral part of these statements.