E-Z-GO 2005 Annual Report Download - page 61

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41
Consolidated Statements of Changes in Shareholders’ Equity
Shares Outstanding* Dollars
For each of the years in the three-year period ended December 31, 2005
(In thousands) (In millions)
2005 2004 2003 2005 2004 2003
$2.08 Preferred stock
Beginning balance 105 112 120 $ 4 $ 4 $ 5
Conversion to common stock (21) (7) (8) — — (1)
Ending balance 84 105 112 $ 4 $ 4 $ 4
$1.40 Preferred stock
Beginning balance 50 52 56 $ 6 $ 6 $ 6
Conversion to common stock (3) (2) (4) — — —
Ending balance 47 50 52 $ 6 $ 6 $ 6
Common stock
Beginning balance 135,373 137,238 136,500 $ 25 $ 25 $ 25
Purchases (8,035) (6,534) (1,951) — — —
Exercise of stock options 2,149 4,351 1,788 1 — —
Conversion of preferred stock to common stock 101 41 48———
Other issuances of common stock 597 277 853———
Ending balance 130,185 135,373 137,238 $ 26 $ 25 $ 25
Capital surplus
Beginning balance $ 1,369 $ 1,148 $ 1,080
Conversion of preferred stock to common stock 1 — —
Exercise of stock options and other issuances 163 221 68
Ending balance $ 1,533 $ 1,369 $ 1,148
Retained earnings
Beginning balance $ 5,792 $ 5,606 $ 5,526
Net income 203 365 259
Dividends declared ($1.40, $1.33 and $1.30 per share, respectively) (187) (179) (179)
Ending balance $ 5,808 $ 5,792 $ 5,606
Treasury stock
Beginning balance $ 3,447 $ 3,035 $ 3,011
Purchases of common stock 606 425 66
Issuance of common stock (30) (13) (42)
Ending balance $ 4,023 $ 3,447 $ 3,035
Accumulated other comprehensive loss
Beginning balance $ (97) $ (64) $ (225)
Currency translation adjustment (17) 97 159
Deferred gains on hedge contracts 2 4 37
Unrealized losses on securities — (3) —
Minimum pension liability adjustment 34 (131) (35)
Other comprehensive income (loss) 19 (33) 161
Ending balance $ (78) $ (97) $ (64)
Comprehensive income
Net income $ 203 $ 365 $ 259
Other comprehensive income (loss) 19 (33) 161
Comprehensive income $ 222 $ 332 $ 420
* Shares issued at the end of 2005, 2004 and 2003 were as follows (In thousands): $2.08 Preferred – 153, 174 and 181 shares, respectively;
$1.40 Preferred – 534, 537 and 540 shares, respectively; Common – 205,613, 203,361 and 198,957 shares, respectively.
See Notes to the Consolidated Financial Statements.