Sears 2008 Annual Report Download - page 54

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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, 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 of
tax ................................... — — — — — 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, net
oftax ............................. — — — — — 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
Comprehensive income (loss)
Net income .......................... — — — — 53 — 53
Pension and postretirement adjustments, net
oftax ............................. — — — — — (604) (604)
Cumulative translation adjustment ........ — — — — — (77) (77)
Total Comprehensive Income (Loss) .......... (628)
Stock awards ............................. — — 2 (8) — — (6)
Pre-petition tax settlements .................. — — — 23 — — 23
Bankruptcy related settlement agreements ...... — — (12) 7 — — (5)
Shares repurchased ........................ (10) — (678) — — — (678)
Associate stock purchase ................... — — 7 — — — 7
Balance at January 31, 2009 ................. 122 $ 1 $(5,012) $10,441 $4,562 $(612) $ 9,380
See accompanying Notes to Consolidated Financial Statements.
54