Baker Hughes 2007 Annual Report Download - page 125
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42 Baker Hughes Incorporated
CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY
Accumulated
Capital in Other
Common Excess of Retained Comprehensive Unearned
(In millions, except per share amounts) Stock Par Value Earnings Loss Compensation Total
Balance, December 31, 2004 $ 336.6 $ 3,127.8 $ 545.9 $ (109.8) $ (5.1) $ 3,895.4
Comprehensive income:
Net income 878.4
Foreign currency translation adjustments,
net of tax of $0.1 (65.0)
Change in minimum pension liability,
net of tax of $5.5 (12.2)
Other (1.0)
Total comprehensive income 800.2
Issuance of restricted stock net of cancellations,
net of tax of $6.6 0.4 19.2 (12.3) 7.3
Amortization of unearned compensation,
net of tax of $(2.1) 5.0 5.0
Stock issued pursuant to employee stock plans,
net of tax of $19.8 6.2 243.3 249.5
Repurchase and retirement of common stock (1.7) (96.8) (98.5)
Cash dividends ($0.475 per share) (161.1) (161.1)
Balance, December 31, 2005 $ 341.5 $ 3,293.5 $ 1,263.2 $ (188.0) $ (12.4) $ 4,697.8
Comprehensive income:
Net income 2,419.0
Foreign currency translation adjustments:
Reclassifications included in net income due
to sale of business (2.3)
Translation adjustments, net of tax of $4.3 59.4
Change in minimum pension liability, net of
tax of $7.0 (17.8)
Other 1.1
Total comprehensive income 2,459.4
Adoption of SFAS 158, net of tax of $21.6 (39.6) (39.6)
Adoption of SFAS 123(R) (12.4) 12.4
Issuance of restricted stock, net of cancellations 0.2 15.1 15.3
Issuance of common stock pursuant to employee
stock plans 2.4 97.8 100.2
Tax benefit on stock plans 17.6 17.6
Stock-based compensation 20.7 20.7
Repurchase and retirement of common stock (24.2) (1,831.7) (1,855.9)
Cash dividends ($0.52 per share) (172.6) (172.6)
Balance, December 31, 2006 $ 319.9 $ 1,600.6 $ 3,509.6 $ (187.2) $ – $ 5,242.9
Adoption of AUG AIR-1, net of tax of $(9.0) 25.2 25.2
Adoption of FIN 48 (64.2) (64.2)
Adjusted beginning balance January 1, 2007 $ 319.9 $ 1,600.6 $ 3,470.6 $ (187.2) $ – $ 5,203.9
Comprehensive income:
Net income 1,513.9
Foreign currency translation adjustments,
net of tax of $(7.3) 72.2
Defined benefit pension plans,
net of tax of $(37.4) 70.8
Total comprehensive income 1,656.9
Issuance of restricted stock, net of cancellations 0.2 14.4 14.6
Issuance of common stock, pursuant to
employee stock plans 1.7 65.8 67.5
Tax benefit on stock plans 18.5 18.5
Stock-based compensation 31.9 31.9
Repurchase and retirement of common stock (6.4) (515.1) (521.5)
Cash dividends ($0.52 per share) (166.2) (166.2)
Balance, December 31, 2007 $ 315.4 $ 1,216.1 $ 4,818.3 $ (44.2) $ – $ 6,305.6
See Notes to Consolidated Financial Statements