Dominion Power 2006 Annual Report Download - page 65

CONSOLIDATED STATEMENTS OF COMMON SHAREHOLDERS’
EQUITY AND COMPREHENSIVE INCOME
Common Stock Other
Paid-In
Capital
Retained
Earnings
Accumulated
Other
Comprehensive
Income (Loss) TotalShares Amount
(millions)
Balance at December 31, 2003 325 $10,052$61$1,054 $(629) $10,538
Comprehensive income:
Net income 1,249 1,249
Net deferred derivative losses—hedging activities, net of $632 tax benefit (1,118) (1,118)
Net unrealized gains on investment securities, net of $18 tax expense 37 37
Foreign currency translation adjustments 30 30
Amounts reclassified to net income:
Net realized losses on investment securities, net of $12 tax benefit 23 23
Net derivative losses—hedging activities, net of $407 tax benefit 705 705
Foreign currency translation adjustments (44) (44)
Total comprehensive income 1,249 (367) 882
Issuance of stock—equity-linked securities 7413413
Issuance of stock—employee and direct stock purchase plans 3206 206
Stock awards and stock options exercised (net of change in unearned
compensation) 5223 223
Cash settlement—forward equity transaction —(6)(6)
Tax benefit from stock awards and stock options exercised 31 31
Dividends (861) (861)
Balance at December 31, 2004 34010,888 92 1,442 (996) 11,426
Comprehensive income:
Net income 1,033 1,033
Net deferred derivative losses—hedging activities, net of $1,648 tax
benefit (2,846) (2,846)
Net unrealized gains on investment securities, net of $19 taxexpense 27 27
Minimum pension liability adjustment, net of $3 tax expense 44
Foreign currency translation adjustments 10 10
Amounts reclassified to net income:
Net realizedgainson investmentsecurities, net of $8 tax expense(11) (11)
Net derivative losses—hedging activities, net of $723 tax benefit 1,250 1,250
Foreign currency translation adjustments (2)(2)
Total comprehensive income 1,033 (1,568) (535)
Issuance of stock—employee and direct stock purchase plans —99
Stock awards and stock options exercised (net of change in unearned
compensation) 6 363 363
Issuance of stock—forward equity transaction 5319319
Stock repurchase and retirement (4)(276) (276)
Cash settlement—forward equity transaction —(17) (17)
Tax benefit from stock awards and stock options exercised 31 31
Dividends and other adjustments 2(925) (923)
Balance at December 31, 2005 347 11,286 125 1,550 (2,564) 10,397
Comprehensive income:
Net income 1,380 1,380
Net deferred derivative gains—hedging activities, net of $625 tax
expense 1,173 1,173
Unrealized gains on investment securities, net of $83 tax expense 126 126
Minimum pension liability adjustment, net of $7 tax expense 10 10
Foreign currency translation adjustments (8)(8)
Amounts reclassified to net income:
Net realized gains on investment securities, net of $6 tax expense (9)(9)
Net derivative losses—hedging activities, net of $724 tax benefit 1,182 1,182
Total comprehensive income 1,380 2,474 3,854
Issuance of stock—employee and direct stock purchase plans 19595
Stock awards and stock options exercised (net of change in unearned
compensation) 27979
Issuance of stock—equity-linked securities 4330 330
Stock repurchase and retirement (5)(540) (540)
Tax benefit from stock awards and stock options exercised 88
Adjustment to initially adopt SFAS No. 158, net of $239 tax benefit (335) (335)
Dividends and other adjustments (5) (970) (975)
Balance at December 31, 2006 349 $11,250 $128 $1,960 $(425) $12,913
The accompanying notes are an integral part of our Consolidated Financial Statements.
64 DOMINION2006 Annual Report