World Fuel Services 2005 Annual Report Download - page 54

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WORLD FUEL SERVICES CORPORATION AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY
(In thousands)
Common Stock Capital in
Excess of
Par Value
Retained
Earnings
Accumulated
Other
Comprehensive
Income
Unearned
Compensation
Treasury Stock
TotalShares Amount Shares Amount
Balance at December 31,
2002 .................. 25,530 $255 $ 32,468 $115,386 $ — $(1,886) 4,142 $(17,441) $128,782
Net income ........... — — 22,161 — — — — 22,161
Cash dividends
declared ........... — — (3,232) — — — — (3,232)
Issuance of restricted
stock .............. — — 388 — — (652) (62) 264 —
Issuance of stock
options ............ — — 1,175 — — (1,175) — — —
Amortization of unearned
deferred
compensation ....... — — — — — 925 — — 925
Exercise of stock options,
including income tax
benefit of $196 ...... — — 388 — — — (126) 534 922
Other ................ — — 126 — — — (8) 34 160
Balance at December 31,
2003 .................. 25,530 255 34,545 134,315 — (2,788) 3,946 (16,609) 149,718
Net income ........... — — — 28,559 — — — — 28,559
Cash dividends
declared ........... — — — (3,378) — — — — (3,378)
Issuance of restricted
stock .............. — — 2,586 — — (3,249) (158) 663 —
Issuance of stock
options ............ — — 164 — — (164) — — —
Amortization of unearned
deferred
compensation ....... — — — — — 1,708 — — 1,708
Exercise of stock options,
including income tax
benefit of $4,517 ..... — — 6,556 — — — (1,080) 4,545 11,101
Other ................ — — 573 — — 124 (24) 98 795
Balance at December 31,
2004 .................. 25,530 255 44,424 159,496 — (4,369) 2,684 (11,303) 188,503
Net income ........... — — — 39,609 — — — — 39,609
Cash dividends
declared ........... — — — (3,611) — — — — (3,611)
Issuance of restricted
stock .............. 5 — 1,914 — — (2,263) (83) 349 —
Issuance of stock options
and stock-settled stock
appreciation rights . . . — — 3,334 — — (3,334) — — —
Amortization of unearned
deferred
compensation ....... — — — — — 3,976 — — 3,976
Exercise of stock options,
including income tax
benefit of $2,380 ..... 10 — 3,604 — — — (344) 1,452 5,056
Public offering of
shares ............. 4,112 41 120,221 — — — — — 120,262
Retirement of treasury
shares ............. (2,254) (22) (9,467) — — — (2,254) 9,489 —
Other ................ (33) — (677) — 143 73 (3) 13 (448)
Balance at December 31,
2005 .................. 27,370 $274 $163,353 $195,494 $ 143 $(5,917) — $ — $353,347
The accompanying notes are an integral part of these consolidated financial statements.
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