WeightWatchers 2002 Annual Report Download - page 53

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WEIGHT WATCHERS INTERNATIONAL, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS’ EQUITY (DEFICIT),
PARENT COMPANY INVESTMENT AND COMPREHENSIVE INCOME
FOR THE FISCAL YEARS ENDED DECEMBER 28, 2002 AND DECEMBER 29, 2001,
THE EIGHT MONTHS ENDED DECEMBER 30, 2000, AND
THE FISCAL YEAR ENDED APRIL 29, 2000
(IN THOUSANDS)
Accumulated
Additional Other Accumulated Parent
Common Stock Treasury Stock Paid-in Comprehensive Equity Company’s
Shares Amount Shares Amount Capital Loss (Deficit) Investment Total
Balance at April 24, 1999 .................. 276,430 $ 248,948 $ 248,948
Net Parent settlements ................... (252,883) (252,883)
Recapitalization and settlement of Parent company
investment ......................... (164,442) —— —$(72,100) $(12,764) $(268,547) 3,935 (349,476)
Deferred tax asset ...................... 72,100 72,100
Comprehensive Income:
Net income ......................... 37,759 37,759
Translation adjustment .................. 10,311 10,311
Total Comprehensive Income ................ 48,070
Preferred stock dividend .................. (875) (875)
Balance at April 29, 2000 .................. 111,988 $ ——$ — $ — $ (2,453) $(231,663) $ —$(234,116)
Elimination of foreign subsidiaries one month
reporting lag effective April 30, 2000 ......... 1,137 1,137
Comprehensive Income:
Net income ......................... 15,019 15,019
Translation adjustment .................. (3,818) (3,818)
Total Comprehensive Income ................ 11,201
Preferred stock dividend .................. (1,000) (1,000)
Balance at December 30, 2000 ............... 111,988 $ ——$ — $ — $ (6,271) $(216,507) $ —$(222,778)
Comprehensive Income:
Net income ......................... 147,187 147,187
Translation adjustment .................. (3,132) (3,132)
Changes in fair value of derivatives accounted for as
hedges, net of taxes of $2,303 ............ (3,920) (3,920)
Total Comprehensive Income ................ 140,135
Preferred stock dividend .................. (1,500) (1,500)
Purchase of treasury stock ................. 6,719 (27,132) (27,132)
Stock options exercised ................... (93) 375 (177) 198
Sale of common stock .................... (138) 561 (36) 525
Cost of public equity offering ............... (2,965) (2,965)
Balance at December 29, 2001 ............... 111,988 $ — 6,488 $(26,196) $ —$(13,323) $ (73,998) $ —$(113,517)
Comprehensive Income:
Net income ......................... 143,694 143,694
Translation adjustment, net of taxes of $835 ..... 8,205 8,205
Changes in fair value of derivatives accounted for as
hedges, net of taxes of $(443) ............ 1,245 1,245
Total Comprehensive Income ................ 153,144
Preferred stock dividend .................. (254) (254)
Stock options exercised ................... (777) 3,135 (1,441) 1,694
Tax benefit of stock options exercised .......... 6,331 6,331
Cost of secondary public equity offering ......... (850) (850)
Balance at December 28, 2002 ............... 111,988 $ — 5,711 $(23,061) $ —$ (3,873) $ 73,482 $ — $ 46,548
The accompanying notes are an integral part of the consolidated financial statements.
F-4