Sears 2006 Annual Report Download - page 58

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SEARS HOLDINGS CORPORATION
Consolidated Statements of Shareholders’ Equity
dollars and shares in millions
Number of
Shares
Common
Stock
Treasury
Stock
Capital
in
Excess
of Par
Value
Retained
Earnings
Accumulated
Other
Comprehensive
Income (Loss) Total
Balance, beginning of January 28, 2004 . . . 90 $ 1 $ (1) $ 1,974 $ 234 $ 1 $ 2,209
Comprehensive income
Netincome...................... — — — — 1,106 — 1,106
Minimum pension liability adjustment,
netoftax ..................... — — — — — (77) (77)
Market value adjustment for
investments ................... — — — — — (1) (1)
TotalComprehensiveIncome ........... 1,028
Unearned compensation ............... — — 4 2 — — 6
Pre-petition tax settlement/valuation
reserve adjustments ................. — — — 1,297 — — 1,297
Bankruptcy related settlement
agreements ........................ (1) — (88) 18 — — (70)
Other .............................. — — (1) — — — (1)
Balance at January 26, 2005 ............ 89 1 (86) 3,291 1,340 (77) 4,469
Acquisition of Sears .................. 63 1 62 6,423 — — 6,486
Conversion of Subordinated note ........ 6 — 24 39 — — 63
Comprehensive income
Netincome...................... — — — — 858 — 858
Minimum pension liability adjustment,
netoftax ..................... — — — — — (110) (110)
Cumulative translation adjustment . . . — — — — — (18) (18)
TotalComprehensiveIncome ........... 730
Proceeds from exercise of stock options . . . 7 — — 102 — — 102
Income tax benefit on non-qualified stock
options ........................... — — — 53 — — 53
Pre-petition tax settlements/valuation
reserve adjustments ................. — — — 292 — — 292
Bankruptcy related settlement
agreements ........................ — — (38) 13 — — (25)
Shares repurchased ................... (5) — (590) — — — (590)
Other .............................. — — (14) 45 — — 31
Balance at January 28, 2006 ............ 160 2 (642) 10,258 2,198 (205) 11,611
Comprehensive income
Netincome...................... — — — — 1,490 — 1,490
Minimum pension liability adjustment,
netoftax ..................... — — — — — 174 174
Deferred gain on derivatives ........ — — — — — 4 4
Cumulative translation adjustment . . . — — — — — 20 20
TotalComprehensiveIncome ........... 1,688
Adjustment to initially apply FAS 158, net
oftax ............................ — — — — — 75 75
Pre-petition tax settlements/valuation
reserve adjustments ................. — — — 130 — — 130
Bankruptcy related settlement
agreements ........................ — — — 4 — — 4
Shares repurchased ................... (6) — (816) — — — (816)
Other .............................. — — 21 1 — — 22
Balance at February 3, 2007 ............ 154 $ 2 $(1,437) $10,393 $3,688 $ 68 $12,714
See accompanying Notes to Consolidated Financial Statements.
58