E-Z-GO 2004 Annual Report Download - page 57

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36
Consolidated Statements of Changes in Shareholders’ Equity
Shares Outstanding* Dollars
For each of the years in the three-year period ended January 1, 2005
(In thousands) (In millions)
2004 2003 2002 2004 2003 2002
$2.08 Preferred stock
Beginning balance 112 120 133 $ 4 $ 5 $ 5
Conversion to common stock (7) (8) (13) — (1) —
Ending balance 105 112 120 $ 4 $ 4 $ 5
$1.40 Preferred stock
Beginning balance 52 56 62 $ 6 $ 6 $ 6
Conversion to common stock (2) (4) (6) — — —
Ending balance 50 52 56 $ 6 $ 6 $ 6
Common stock
Beginning balance 137,238 136,500 141,251 $ 25 $ 25 $ 25
Purchases (6,534) (1,951) (5,734) — — —
Exercise of stock options 4,351 1,788 689 — — —
Conversion of preferred stock to common stock 41 48 79 — — —
Other issuances of common stock 277 853 215 — — —
Ending balance 135,373 137,238 136,500 $ 25 $ 25 $ 25
Capital surplus
Beginning balance $ 1,148 $ 1,080 $ 1,064
Conversion of preferred stock to common stock — — —
Exercise of stock options and other issuances 221 68 16
Ending balance $ 1,369 $ 1,148 $ 1,080
Retained earnings
Beginning balance $ 5,606 $ 5,526 $ 5,829
Net income (loss) 365 259 (124)
Dividends declared ($1.33, $1.30 and $1.30 per share, respectively) (179) (179) (179)
Ending balance $ 5,792 $ 5,606 $ 5,526
Treasury stock
Beginning balance $ 3,035 $ 3,011 $ 2,772
Purchases of common stock 425 66 249
Issuance of common stock (13) (42) (10)
Ending balance $ 3,447 $ 3,035 $ 3,011
Accumulated other comprehensive loss
Beginning balance $ (64) $ (225) $ (223)
Currency translation adjustment 97 159 78
Deferred gains on hedge contracts 43713
Unrealized (losses) gains on securities (3) — 2
Minimum pension liability adjustment (131) (35) (95)
Other comprehensive (loss) income (33) 161 (2)
Ending balance $ (97) $ (64) $ (225)
Comprehensive income (loss)
Net income (loss) $ 365 $ 259 $ (124)
Other comprehensive (loss) income (33) 161 (2)
Comprehensive income (loss) $ 332 $ 420 $ (126)
*Shares issued at the end of 2004, 2003, 2002 and 2001, were as follows (In thousands): $2.08 Preferred 174; 181; 189 and 202 shares, respectively; $1.40 Preferred – 537; 540;
543 and 549 shares, respectively; Common – 203,361; 198,957; 197,110 and 196,337 shares, respectively.
See notes to the consolidated financial statements.