Sears 2007 Annual Report Download - page 57

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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 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
Net income ........................ — — — 857 857
Minimum pension liability adjustment, net
oftax ........................... — — — (110) (110)
Deferred gain on derivatives ........... — — — — 3 3
Cumulative translation adjustment ...... — — — (24) (24)
Total Comprehensive Income ............ 726
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 2,197 (208) 11,607
Comprehensive income
Net income ........................ — — — 1,492 — 1,492
Minimum pension liability adjustment, net
oftax ........................... — — — 174 174
Deferred loss on derivatives ........... — — — — (1) (1)
Cumulative translation adjustment ...... — — — 19 19
Total Comprehensive Income ............ 1,684
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 3,689 59 12,706
Comprehensive income
Net income ........................ — — — 826 826
Pension and postretirement adjustments,
netoftax ........................ — — — — 53 53
Deferred gain on derivatives ........... — — — — 1 1
Cumulative translation adjustment ...... — — — (44) (44)
Total Comprehensive Income ............ 836
Stock awards ......................... — 54 (30) — 24
Pre-petition tax settlements/valuation reserve
adjustments ........................ — — — 52 52
Bankruptcy related settlement agreements . . (29) 4 (25)
Shares repurchased .................... (22) (1) (2,921) (2,922)
Other ............................... — 2 (6) (4)
Balance at February 2, 2008 ............. 132 $ 1 $(4,331) $10,419 $4,509 $ 69 $10,667
See accompanying Notes to Consolidated Financial Statements.
57