Dominion Power 2007 Annual Report Download - page 68

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, 2004 680 $10,888 $ 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 (2,846) (2,846)
Unrealized gains on investment securities, net of $19 tax 27 27
Minimum pension liability adjustment, net of $3 tax 44
Foreign currency translation adjustments 10 10
Amounts reclassified to net income:
Net realized gains on investment securities, net of $8 tax (11) (11)
Net derivative losses—hedging activities, net of $723 tax 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 — 9 9
Stock awards and stock options exercised (net of change in unearned compensation) 12 363 363
Issuance of stock—forward equity transaction 10 319 319
Stock repurchase and retirement (7) (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 695 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 1,173 1,173
Changes in unrealized gains on investment securities, net of $83 tax 126 126
Minimum pension liability adjustment, net of $7 tax 10 10
Foreign currency translation adjustments (8) (8)
Amounts reclassified to net income:
Net realized gains on investment securities, net of $6 tax (9) (9)
Net derivative losses—hedging activities, net of $724 tax 1,182 1,182
Total comprehensive income 1,380 2,474 3,854
Adjustment to initially apply SFAS No. 158, net of $239 tax (335) (335)
Issuance of stock— employee and direct stock purchase plans 2 95 95
Stock awards and stock options exercised (net of change in unearned compensation) 3 79 79
Issuance of stock—forward equity transaction 9 330 330
Stock repurchase and retirement (11) (540) (540)
Tax benefit from stock awards and stock options exercised 8 8
Dividends and other adjustments (5) (970) (975)
Balance at December 31, 2006 698 11,250 128 1,960 (425) 12,913
Comprehensive income:
Net income 2,539 2,539
Net deferred derivative losses—hedging activities, net of $140 tax (223) (223)
Changes in unrealized gains on investment securities, net of $75 tax (110) (110)
Changes in net unrecognized pension and other postretirement benefit costs,
net of $80 tax 164 164
Amounts reclassified to net income:
Net realized losses on investment securities, net of $4 tax 88
Net derivative losses—hedging activities, net of $376 tax 603 603
Net pension and other postretirement benefit costs, net of $10 tax 21 21
Recognition of foreign currency translation gains upon sale of foreign subsidiary (50) (50)
Total comprehensive income 2,539 413 2,952
Stock awards and stock options exercised (net of change in unearned compensation) 8 251 251
Stock repurchase and retirement (129) (5,768) (5,768)
Tax benefit from stock awards and stock options exercised 46 46
Adoption of FIN 48 (58) (58)
Dividends and other adjustments 1 (931) (930)
Balance at December 31, 2007 577 $ 5,733 $175 $3,510 $ (12) $ 9,406
The accompanying notes are an integral part of our Consolidated Financial Statements.
66 Dominion 2007 Annual Report