WeightWatchers 2004 Annual Report Download - page 66

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WEIGHT WATCHERS INTERNATIONAL, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS’ EQUITY (DEFICIT)
(IN THOUSANDS)
Accumulated
Other Retained
Common Stock Treasury Stock Deferred Comprehensive Earnings
Shares Amount Shares Amount Compensation Income (Loss) (Deficit) Total
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
Comprehensive Income:
Net income ............... 143,941 143,941
Translation adjustment, net of
taxes of $4,116 ........... 7,733 7,733
Changes in fair value of
derivatives accounted for as
hedges, net of taxes of $1,687 . . 2,406 2,406
Total Comprehensive Income ..... 154,080
Stock options exercised ......... (856) 3,455 (1,452) 2,003
Tax benefit of stock options
exercised ................ 7,319 7,319
Purchase of treasury stock ....... 784 (28,815) (28,815)
Restricted stock issued to employees . (267) 267 —
Compensation expense on restricted
stock awards .............. 53 53
Balance at January 3, 2004 ...... 111,988 $— 5,639 $ (48,421) $(214) $ 6,266 $223,557 $ 181,188
Comprehensive Income:
Net income ............... 183,084 183,084
Translation adjustment, net of
taxes of ($650) ........... (673) (673)
Changes in fair value of
derivatives accounted for as
hedges, net of taxes of ($128) . . 201 201
Total Comprehensive Income ..... 182,612
Stock options exercised ......... (732) 2,955 (1,076) 1,879
Tax benefit of stock options
exercised ................ 7,678 7,678
Purchase of treasury stock ....... 4,668 (177,081) (177,081)
Restricted stock issued to employees . (162) 162 —
Compensation expense on restricted
stock awards .............. 143 143
Cumulative effect of accounting
change .................. 20 20
Balance at January 1, 2005 ...... 111,988 $— 9,575 $(222,547) $(233) $ 5,794 $413,425 $ 196,439
The accompanying notes are an integral part of the consolidated financial statements.
F-4