E-Z-GO 2000 Annual Report Download - page 40

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For each of the years in the three-year period ended December 30, 2000
Shares Outstanding* Dollars
(In thousands) (In millions)
2000 1999 1998 2000 1999 1998
$2.08 Preferred stock
Beginning balance 159 178 201 $ 5 $6$6
Conversion to common stock (16) (19) (23) –(1) –
Ending balance 143 159 178 $ 5 $5$6
$1.40 Preferred stock
Beginning balance 74 86 92 $ 7 $7$7
Conversion to common stock (7) (12) (6) –––
Ending balance 67 74 8 6 $ 7 $7$7
Common stock
Beginning balance 147,002 154,742 162,343 $ 24 $24 $24
Purchases (6,627) (9,779) (10,189) –––
Exercise of stock options 430 1,428 2,465 –––
Conversion of preferred stock to common stock 97 129 123 –––
Other issuances of common stock 31 482 – –––
Ending balance 140,933 147,002 154,742 $ 24 $24 $24
Capital surplus
Beginning balance $1,009 $ 931 $ 830
Conversion of preferred stock to common stock 111
Exercise of stock options and other issuances 16 77 100
Ending balance $1,026 $1,009 $ 931
Retained earnings
Beginning balance $5,817 $3,786 $3,362
Net income 218 2,226 608
Dividends declared:
Preferred stock –(1) (1)
Common stock (per share: $1.30 in both 2000 and 1999
and $1.14 in 1998) (187) (194) (183)
Ending balance $5,848 $5,817 $3,786
Treasury stock
Beginning balance $2,387 $1,661 $ 939
Purchases of common stock 358 748 722
Issuance of common stock (1) (22) –
Ending balance $2,744 $2,387 $1,661
Accumulated other comprehensive loss
Beginning balance $ (98) $ (96) $ (62)
Currency translation adjustment (74) 8 (33)
Securities valuation adjustment –(13) –
Pension liability adjustment –3 (1)
Other comprehensive loss (74) (2) (34)
Ending balance $ (172) $ (98) $ (96)
Comprehensive income
Net income $ 218 $2,226 $ 608
Other comprehensive loss (74) (2) (34)
Comprehensive income $ 144 $2,224 $ 574
*Shares issued at the end of 2000, 1999, 1998 and 1997, were as follows (in thousands): $2.08 Preferred – 212; 228; 247; and 270 shares, respec-
tively; $1.40 Preferred – 554; 561; 573; and 579 shares, respectively; Common – 195,394; 194,858; 193,277; and 190,689 shares, respectively.
See notes to the consolidated financial statements.
Consolidated Statements of Changes in Shareholders’ Equity
TEXTRON 2000 ANNUAL REPORT 38