World Fuel Services 2007 Annual Report Download - page 54

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ˆ1KGX9SH6SJHBBDW|Š
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64435 TX 46WORLD FUEL SERVICES
ANNUAL REPORT
28-Feb-2008 12:06 EST
CLN PSTAM
RR Donnelley ProFile SER carrp0da
START PAGE
7*
PMT 2C
TX8724AC350610
9.9.26
WORLD FUEL SERVICES CORPORATION AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY
(In thousands)
Common Stock
Capital
in
Excess
of
Par
Value
Retained
Earnings
Accumulated
Other
Comprehensive
Income TotalShares Amount
Balance at December 31, 2004 ......................... 22,846 $228 $ 28,779 $159,496 $ — $188,503
Net income .................................... — — — 39,609 — 39,609
Cash dividends declared .......................... — — — (3,611) — (3,611)
Issuance of restricted stock ........................ 88 1 (1) — — —
Amortization of share-based payment awards ......... — — 3,976 — — 3,976
Exercise of stock options, including income tax benefit
of $2,380 .................................... 354 4 5,408 — — 5,412
Public offering of shares .......................... 4,112 41 120,221 — — 120,262
Purchases of stock tendered by employees to satisfy the
required withholding taxes related to share-based
awards ...................................... (32) — (1,234) — — (1,234)
Other ......................................... 2 — 287 — 143 430
Balance at December 31, 2005 ......................... 27,370 274 157,436 195,494 143 353,347
Net income .................................... — — — 63,948 — 63,948
Cash dividends declared .......................... — — — (4,197) — (4,197)
Issuance of restricted stock ........................ 202 2 (2) — — —
Amortization of share-based payment awards ......... — — 7,035 — — 7,035
Exercise of stock options, including income tax benefit
of $128 ..................................... 953 9 6,671 — — 6,680
Purchases of stock tendered by employees to satisfy the
required withholding taxes related to share-based
awards ...................................... (24) — (1,050) — — (1,050)
Other ......................................... (13) — 185 — 21 206
Balance at December 31, 2006 ......................... 28,488 285 170,275 255,245 164 425,969
Net income .................................... — — — 64,773 — 64,773
Cash dividends declared .......................... — — — (4,275) — (4,275)
Issuance of restricted stock ........................ 108 1 (1) — — —
Amortization of share-based payment awards ......... — — 7,166 — — 7,166
Exercise of stock options, including income tax benefit
of $3,883 .................................... 96 1 4,938 — — 4,939
FIN 48 liability ................................. — — — (11,986) — (11,986)
Purchases of stock tendered by employees to satisfy the
required withholding taxes related to share-based
awards ...................................... (59) (1) (2,582) — — (2,583)
Other ......................................... (54) — 3 — (129) (126)
Balance at December 31, 2007 ......................... 28,579 $286 $179,799 $303,757 $ 35 $483,877
The accompanying notes are an integral part of these consolidated financial statements.
46