E-Z-GO 1999 Annual Report Download - page 46

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Consolidated Statements of Changes in Shareholders’ Equity
For each of the three years in the period ended January 1, 2000
Shares outstanding* Dollars
(In thousands) (In millions)
1999 1998 1997 1999 1998 1997
$2.08 Preferred stock
Beginning balance 178 201 243 $6 $6 $7
Conversion to common stock (19) (23) (42) (1) –(1)
Ending balance 159 178 201 $5 $6 $6
$1.40 Preferred stock
Beginning balance 86 92 107 $7 $7 $7
Conversion to common stock (12) (6) (15) –––
Ending balance 74 86 92 $7 $7 $7
Common stock
Beginning balance 154,742 162,343 82,809 $24 $24 $12
Purchases (9,779) (10,189) (4,121) –––
Stock dividend declared –– 82,397 –– 12
Conversion of preferred stock to common stock 129 123 166 –––
Exercise of stock options 1,428 2,465 1,066 –––
Other issuances of common stock 482 – 26 –––
Ending balance 147,002 154,742 162,343 $24 $24 $24
Capital surplus
Beginning balance $ 931 $ 830 $ 793
Conversion of preferred stock to common stock 111
Exercise of stock options and other issuances 77 100 48
Stock dividend declared ––(12)
Ending balance $1,009 $ 931 $ 830
Retained earnings
Beginning balance $3,786 $3,362 $2,969
Net income 2,226 608 558
Dividends declared:
Preferred stock (1) (1) (1)
Common stock (per share: $1.30 in 1999;
$1.14 in 1998; and $1.00 in 1997) (194) (183) (164)
Ending balance $5,817 $3,786 $3,362
Treasury stock
Beginning balance $1,661 $ 939 $ 612
Purchases of common stock 748 722 328
Issuance of common stock (22) –(1)
Ending balance $2,387 $1,661 $ 939
Accumulated other comprehensive income (loss)
Beginning balance $ (96) $ (62) $ 7
Currency translation adjustment 8(33) (73)
Securities valuation adjustment (13) – 4
Pension liability adjustment 3(1) –
Other comprehensive income (loss) (2) (34) (69)
Ending balance $ (98) $ (96) $ (62)
Comprehensive income
Net income $2,226 $ 608 $ 558
Other comprehensive income (loss) (2) (34) (69)
Comprehensive income $2,224 $ 574 $ 489
*Shares issued at the end of 1999, 1998, 1997, and 1996, were as follows (in thousands): $2.08 Preferred – 228; 247; 270; and 312; shares, respectively; $1.40
Preferred – 561; 573; 579; and 594 shares, respectively; Common – 194,858; 193,277; 190,689; and 94,456; shares, respectively.
See notes to consolidated financial statements.
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