Dow Chemical 2009 Annual Report Download - page 113

Table of Contents
The Dow Chemical Company and Subsidiaries
Consolidated Statements of Equity
(In millions) For the years ended December 31 2009 2008 2007
Preferred Stock
Balance at beginning of year - - -
Preferred stock issued $ 7,000 - -
Preferred stock repurchased (2,500) - -
Preferred stock converted to common stock (500) - -
Balance at end of year 4,000 - -
Common Stock
Balance at beginning of year 2,453 $ 2,453 $ 2,453
Common stock issued 453 - -
Balance at end of year 2,906 2,453 2,453
Additional Paid-in Capital
Balance at beginning of year 872 902 830
Common stock issued 2,643 - -
Sale of shares to ESOP (1,529) - -
Stock-based compensation and allocation of ESOP shares (73) (30) 72
Balance at end of year 1,913 872 902
Retained Earnings
Balance at beginning of year 17,013 18,004 16,987
Net income available for The Dow Chemical Company common stockholders 336 579 2,887
Dividends declared on common stock (Per share: $0.60 in 2009, $1.68 in 2008 and $1.635 in
2007) (639) (1,556) (1,548)
Other (6) (14) (32)
Impact of the adoption of FIN No. 48 - - (290)
Balance at end of year 16,704 17,013 18,004
Accumulated Other Comprehensive Loss
Unrealized (Losses) Gains on Investments at beginning of year (111) 71 42
Net change in unrealized gains (losses) 190 (182) 29
Balance at end of year 79 (111) 71
Cumulative Translation Adjustments at beginning of year 221 723 (12)
Translation adjustments 403 (502) 735
Balance at end of year 624 221 723
Pension and Other Postretirement Benefit Plans at beginning of year (4,251) (989) (2,192)
Net prior service credit (cost) 19 16 (74)
Net (loss) gain (355) (3,278) 1,277
Balance at end of year (4,587) (4,251) (989)
Accumulated Derivative (Loss) Gain at beginning of year (248) 25 (73)
Net hedging results (65) (452) 20
Reclassification to earnings 305 179 78
Balance at end of year (8) (248) 25
Total accumulated other comprehensive loss (3,892) (4,389) (170)
Unearned ESOP Shares
Balance at beginning of year - - -
Shares acquired (553) - -
Shares allocated to ESOP participants 34 - -
Balance at end of year (519) - -
Treasury Stock
Balance at beginning of year (2,438) (1,800) (970)
Purchases (5) (898) (1,455)
Sale of shares to ESOP 1,529 - -
Issuance to employees and employee plans 357 260 625
Balance at end of year (557) (2,438) (1,800)
The Dow Chemical Company's Stockholders' Equity 20,555 13,511 19,389
Noncontrolling Interests
Balance at beginning of year 69 414 365
Net income attributable to noncontrolling interests 28 75 98
Purchase of noncontrolling interests' share of subsidiaries - (376) (1)
Distributions to noncontrolling interests (24) (45) (51)
Acquisition of Rohm and Haas Company noncontrolling interests 432 - -
Consolidation of variable interest entity 46 - -
Other 18 1 3
Balance at end of year 569 69 414