E-Z-GO 2002 Annual Report Download - page 42

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For each of the years in the three-year period ended December 28, 2002
Shares Outstanding* Dollars
(In thousands) (In millions)
2002 2001 2000 2002 2001 2000
$2.08 Preferred stock
Beginning balance 133 143 159 $ 5 $ 5 $ 5
Conversion to common stock (13) (10) (16) — — —
Ending balance 120 133 143 $ 5 $ 5 $ 5
$1.40 Preferred stock
Beginning balance 62 67 74 $ 6 $ 7 $ 7
Conversion to common stock (6) (5) (7) — (1) —
Ending balance 56 62 67 $ 6 $ 6 $ 7
Common stock
Beginning balance 141,251 140,933 147,002 $ 25 $ 24 $ 24
Purchases (5,734) (738) (6,627) — — —
Exercise of stock options 689 882 430 — — —
Conversion of preferred stock to common stock 79 60 97 — 1 —
Other issuances of common stock 215 114 31 — — —
Ending balance 136,500 141,251 140,933 $ 25 $ 25 $ 24
Capital surplus
Beginning balance $1,064 $ 1,026 $ 1,009
Conversion of preferred stock to common stock — — 1
Exercise of stock options and other issuances 16 38 16
Ending balance $1,080 $ 1,064 $ 1,026
Retained earnings
Beginning balance $5,829 $ 5,848 $ 5,817
Net income (loss) (124) 166 218
Dividends declared on common stock (per share: $1.30) (179) (185) (187)
Ending balance $5,526 $ 5,829 $ 5,848
Treasury stock
Beginning balance $2,772 $ 2,744 $ 2,387
Purchases of common stock 249 34 358
Issuance of common stock (10) (6) (1)
Ending balance $3,011 $ 2,772 $ 2,744
Accumulated other comprehensive loss
Beginning balance $(223) $ (172) $ (98)
Currency translation adjustment 78 (20) (74)
Deferred gains (losses) on hedge contracts 13 (32) —
Unrealized gains on securities 21—
Minimum pension liability adjustment (95) — —
Other comprehensive loss (2) (51) (74)
Ending balance $(225) $ (223) $ (172)
Comprehensive income (loss)
Net income (loss) $(124) $ 166 $ 218
Other comprehensive loss (2) (51) (74)
Comprehensive income (loss) $ (126) $ 115 $ 144
* Shares issued at the end of 2002, 2001, 2000 and 1999, were as follows (in thousands): $2.08 Preferred - 189; 202; 212; and 228 shares, respectively; $1.40 Preferred - 543; 549;
554; and 561 shares, respectively; Common - 197,110; 196,337; 195,394; and 194,858 shares, respectively.
See notes to the consolidated financial statements.
Consolidated Statements of Changes in Shareholders’ Equity
40