Avis 2008 Annual Report Download - page 71

Avis Budget Group, Inc.
CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY (Continued)
(In millions)
See Notes to Consolidated Financial Statements.
F
-
8
Common Stock
Additional
Paid-in
Capital
Retained
Earnings
Accumulated
Other
Comprehensive
Income (loss)
Treasury Stock
Total
Stockholders’
Equity
Shares
Amount
Shares
Amount
Balance at January 1, 2007
135.5
$
1
$
9,664
$
(586
)
$
68
(34.3
)
$
(6,704
)
$
2,443
Comprehensive loss:
Net loss
-
-
-
(916
)
-
-
-
Currency translation adjustment
-
-
-
-
50
-
-
Unrealized losses on cash flow hedges, net of tax of
$59
-
-
-
-
(93
)
-
-
Pension liability adjustment, net of tax of $(5)
-
-
-
-
7
-
-
Total comprehensive loss
(952
)
Adoption of FIN 48 (see Note 2)
-
-
-
(18
)
-
-
-
(18
)
Net activity related to restricted stock units
-
-
(60
)
-
-
0.3
72
12
Exercise of stock options
1.2
-
(207
)
-
-
1.3
256
49
Tax benefit from exercise of stock options
-
-
1
-
-
-
-
1
Activity related to employee stock purchase plan
-
-
(3
)
-
-
-
4
1
Post
-
separation dividend adjustment
-
-
(66
)
-
-
-
-
(66
)
Other
-
-
(9
)
-
-
-
4
(5
)
Balance at December 31, 2007
136.7
$
1
$
9,320
$
(1,520
)
$
32
(32.7
)
$
(6,368
)
$
1,465
Comprehensive loss:
Net loss
-
-
-
(1,124
)
-
-
-
Currency translation adjustment
-
-
-
-
(110
)
-
-
Unrealized losses on cash flow hedges, net of tax of
$56
-
-
-
-
(86
)
-
-
Pension liability adjustment, net of tax of $20
-
-
-
-
(30
)
-
-
Total comprehensive loss
(1,350
)
Net activity related to restricted stock units
0.1
-
(94
)
-
-
0.4
105
11
Exercise of stock options
-
-
(1
)
-
-
-
1
-
Repurchases of common stock
-
-
-
-
-
(2.9
)
(33
)
(33
)
Activity related to employee stock purchase plan
-
-
(27
)
-
-
0.2
28
1
Post
-
separation dividend adjustment
-
-
(3
)
-
-
-
-
(3
)
Other
-
-
2
-
-
-
-
2
Balance at December 31, 2008
136.8
$
1
$
9,197
$
(2,644
)
$
(194
)
(35.0
)
$
(6,267
)
$
93