Chevron 2004 Annual Report Download - page 55

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CHEVRONTEXACO CORPORATION 2004 ANNUAL REPORT 53
 2003 2002
฀฀฀฀ Shares Amount Shares Amount Shares Amount
   – $ – – $ –

Balance at January 1    2,274,042 $ 1,706 2,274,042 $ 1,706
Conversion of Texaco Inc. shares   – – – –
    2,274,042 $ 1,706 2,274,042 $ 1,706

Balance at January 1   $ 3,980 $ 3,958
Treasury stock transactions  22 22
   $ 4,002 $ 3,980

Balance at January 1   $ 30,942 $ 32,767
Net income  7,230 1,132
Cash dividends
Common stock  (3,033) (2,965)
Tax benefit from dividends paid on
unallocated ESOP shares and other 6 8
Exchange of Dynegy securities 170 –
    $ 35,315 $ 30,942

Currency translation adjustment
Balance at January 1   $ (208) $ (223)
Change during year  32 15
Balance at December 31   $ (176) $ (208)
Minimum pension liability adjustment
Balance at January 1   $ (876) $ (91)
Change during year  2 (785)
Balance at December 31   $ (874) $ (876)
Unrealized net holding gain on securities
Balance at January 1   $ 49 $ 5
Change during year ( 80 44
Balance at December 31   $ 129 $ 49
Net derivatives gain on hedge transactions
Balance at January 1   $ 37 $ 3
Change during year  75 34
Balance at December 31   $ 112 $ 37
    $ (809) $ (998)

 
Balance at January 1   $ (412) $ (512)
Net reduction of ESOP debt and other  50 100
  (362) (412)
    14,168 (240) 14,168 (240)
     14,168 $ (602) 14,168 $ (652)

Balance at January 1    137,769 $ (3,374) 139,601 $ (3,415)
Purchases    81 (3) 76 (3)
Issuances – mainly employee benefit plans    (2,103) 60 (1,908) 44
    135,747 $ (3,317) 137,769 $ (3,374)
   $ 36,295 $ 31,604
* 2003 and 2002 restated to reflect a two-for-one stock split effected as a 100 percent stock dividend in September 2004.
See accompanying Notes to the Consolidated Financial Statements.
Consolidated Statement of Stockholders’ Equity
Shares฀in฀thousands;฀amounts฀in฀millions฀of฀dollars