Starwood 2011 Annual Report Download - page 125

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STARWOOD HOTELS & RESORTS WORLDWIDE, INC.
CONSOLIDATED STATEMENTS OF EQUITY
Equity Attributable to Starwood Stockholders
Shares Additional
Paid-in
Capital (1)
Accumulated
Other
Comprehensive
(Loss)
Income (2)
Retained
Earnings
Equity
Attributable to
Noncontrolling
Interests TotalShares Amount
(in millions)
Balance at December 31, 2008 . . . 183 $ 2 $493 $(391) $1,517 $ 23 $1,644
Net income (loss) ............. — — — — 73 (2) 71
Stock option and restricted stock
award transactions, net ....... 4 — 54 — — — 54
ESPP stock issuances .......... — — 5 — — — 5
Other comprehensive income
(loss) ..................... — — — 108 — 1 109
Dividends declared ............ — — — — (37) (1) (38)
Balance at December 31, 2009 . . . 187 2 552 (283) 1,553 21 1,845
Net income (loss) ............. — — — — 477 (2) 475
Stock option and restricted stock
award transactions, net ....... 6 — 248 — — — 248
ESPP stock issuances .......... — — 5 — — — 5
Impact of adoption of ASU
No. 2009-17 ................ — — — — (26) — (26)
Other comprehensive income
(loss) ..................... — — — — — (1) (1)
Dividends declared ............ — — — — (57) (3) (60)
Balance at December 31, 2010 . . . 193 2 805 (283) 1,947 15 2,486
Net income (loss) ............. — — — — 489 (2) 487
Stock option and restricted stock
award transactions, net ....... 3 — 154 — — — 154
ESPP stock issuances .......... — — 5 — — — 5
Other comprehensive income
(loss) ..................... — — — (65) — 1 (64)
Dividends declared ............ — — — — (99) (1) (100)
Sale of controlling interest ...... — — — — — (13) (13)
Other ....................... — — (1) — — 1 —
Balance at December 31, 2011 . . . 196 $ 2 $963 $(348) $2,337 $ 1 $2,955
(1) Stock option and restricted stock award transactions are net of a tax (expense) benefit of $26 million, $28 million and $(18) million in
2011, 2010, and 2009 respectively.
(2) As of December 31, 2011, this balance is comprised of $276 million of cumulative translation adjustments and $75 million of net
unrecognized actuarial losses, partially offset by $3 million of unrecognized gains on forward contracts.
The accompanying notes to financial statements are an integral part of the above statements.
F-8