Sun Life 2012 Annual Report Download - page 92
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CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY
For the years ended December 31, (in millions of Canadian dollars) 2012 2011(1)
Shareholders:
Preferred shares (Note 16)
Balance, beginning of year $ 2,503 $ 2,015
Issued –500
Issuance cost, net of taxes –(12)
Balance, end of year 2,503 2,503
Common shares
Balance, beginning of year 7,735 7,407
Stock options exercised (Note 20) 12 48
Issued to non-controlling interests (Note 17) –37
Issued under dividend reinvestment and share purchase plan (Note 16) 261 243
Balance, end of year 8,008 7,735
Contributed surplus (Note 20)
Balance, beginning of year 102 95
Share-based payments 10 13
Stock options exercised (2) (6)
Balance, end of year 110 102
Retained earnings
Balance, beginning of year 5,133 6,473
Net Income (loss) 1,674 (270)
Dividends on common shares (844) (829)
Dividends on preferred shares (120) (100)
Change due to transactions with non-controlling interests (Note 17) –(141)
Balance, end of year 5,843 5,133
Accumulated other comprehensive income (loss), net of taxes
Unrealized gains (losses) on available-for-sale assets 320 387
Unrealized cumulative translation differences, net of hedging activities (287) (505)
Unrealized gains (losses) on transfers to investment properties 66
Unrealized gains on derivatives designated as cash flow hedges 938
Balance, beginning of year 48 (74)
Total other comprehensive income (loss) for the year 111 122
Balance, end of year 159 48
Total shareholders’ equity, end of year $ 16,623 $ 15,521
Participating policyholders:
Retained earnings
Balance, beginning of year $ 124 $ 117
Net income (loss) 77
Balance, end of year 131 124
Accumulated other comprehensive income (loss), net of taxes
Unrealized cumulative translation differences, net of hedging activities (1) (2)
Balance, beginning of year (1) (2)
Total other comprehensive income (loss) for the year (2) 1
Balance, end of period (3) (1)
Total participating policyholders’ equity, end of year $ 128 $ 123
Non-controlling interests: (Note 17)
Balance, beginning of year $–$24
Net income (loss) –9
Other changes in non-controlling interests –(33)
Total non-controlling interests, end of year – –
Total equity $ 16,751 $ 15,644
(1) Balances have been restated. Refer to Note 2.
The attached notes form part of these Consolidated Financial Statements.
90 Sun Life Financial Inc. Annual Report 2012 Consolidated Financial Statements