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52
Consolidated Statements of Changes in Shareowners’ Equity
Fiscal years ended December 31, 2011, January 1, 2011, and January 2, 2010
(Millions of Dollars, Except Per Share Amounts)
Common
Stock
Additional
Paid In
Capital
Retained
Earnings
Accumulated
Other
Comprehensive
Income (Loss)
ESOP
Treasury
Stock
Non-
Controlling
Interests
Shareowners’
Equity
Balance January
3,
2009
...............................
230.9
91.5
2,199.9
(152.0)
(87.2)
(576.8)
18.5
1,724.8
Comprehensive income:
Net earnings
................................
................
224.3
2.0
226.3
Currency translation adjustment and other
..
77.1
77.1
Change in pension, net of
tax
......................
(1.6
)
(1.6
)
Total comprehensive income
.........................
224.3
75.5
2.0
301.8
Cash dividends declared
—
$1.30 per share
...
(103.6)
(103.6)
Issuance of common stock
..............................
(6.9)
(27.1)
95.1
61.1
Repurchase of c
ommon stock (62,336
shares)
(2.6)
(2.6)
Net premium paid and settlement of equity
option ............................................................. 16.2 (25.4) (9.2)
Formation of joint venture
..............................
4.9
4.9
Other, stock
-
based compensation related
........
20.7
2
0.7
Tax benefit related to stock options exercised
5.2
5.2
ESOP and related tax benefit
..........................
2.0
6.4
8.4
Balance January
2, 2010
...............................
230.9
126.7
2,295.5
(76.5)
(80.8)
(509.7)
25.4
2,011.5
Comprehensive income:
Net earnings
................................
................
198.2
—
198.2
Currency translation adjustment and other
..
(6.9)
(6.9)
Cash flow hedge, net of tax
.........................
(54.9)
(54.9)
Change in pension, net of tax
......................
22.0
22.0
To
tal comprehensive income
.........................
198.2
(39.8)
—
158.4
Cash dividends declared
—
$1.34 per share
...
(193.9)
(193.9)
Equity purchase contracts
—
stock issuance
...
12.9
307.1
320.0
Issuance of common stock
..............................
(30.2)
95.5
65.3
Black
& Decker consideration paid
................
196.9
4,458.9
0.4
4,656.2
Repurchase of common stock (79,357
shares)
(4.9)
(4.9)
Convertible equity
—
offering fees
.................
(13.6)
(13.6)
Convertible equity
—
n
on
-
cash stock contract
fees ................................................................. (14.9) (14.9)
Net premium paid and settlement of equity
option ............................................................. (48.6) (1.7) (50.3)
Non
-
controlling interest buyout
......................
0.7
(1.6)
(0.9)
Non
-
controlling interests of acquired busines
ses
28.9
28.9
Other, stock
-
based compensation related
........
85.0
85.0
Tax benefit related to stock options exercised
14.6
14.6
ESOP and related tax benefit
..........................
2.0
6.3
8.3
Balance January
1, 20
11
...............................
$
440.7
$
4,885.
7
$
2,301.8
$
(116.3
)
$
(74.5
)
$
(420.4
)
$
52.7
$
7,069.7
Comprehensive income:
Net earnings
................................
................
674.6
(0.1)
674.5
Currency translation adjustment and other
..
(116.6
)
(116.6
)
Cash flow hedge, net of tax
.........................
(25.7)
(25.7)
Change in pension, net of tax
......................
(90.6)
(90.6)
Total comprehensive income
.........................
674.6
(232.9
)
(0.1)
441.6
Cash dividends declared
—
$1.64 per share
.
(27
1.3)
(271.3)
Issuance of common stock
............................
(
22.4
)
123.7
101.
3
Forward obligation to purchase treasury shares
(
350.0
)
(350.0)
Equity purchase contracts
-
stock issuance
.....
(
0.4
)
(0.4
)
Net premium p
aid and settlement of equity
option ............................................................. (19.4) (0.2) (19.6)
Repurchase of common stock (164,710
shares)
(11.1)
(11.1)
Non
-
controlling interests of acquired businesses
10.6
10.6
Stock
-
based compensation related
..................
68.9
68.9
Tax benefit related to stock options exercised
18.9
18.9
ESOP and related tax benefit
..........................
2.2
6.0
8.
2
Balance December
31, 2011
..........................
$
440.7
$ 4,581.3
$
2,707.3
$
(349
.
2
)
$
(68.5
)
$
(308.0
)
$
63.2
$
7,066.8
See Notes to Consolidated Financial Statements.