E-Z-GO 2006 Annual Report Download - page 59

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38
Consolidated Statements of Changes in Shareholders’ Equity
Shares Outstanding* Dollars
For each of the years in the three-year period ended December 30, 2006
(In thousands) (In millions)
2006 2005 2004 2006 2005 2004
$2.08 Preferred stock
Beginning balance 84 105 112 $ 4 $ 4 $ 4
Conversion to common stock (6) (21) (7) — — —
Ending balance 78 84 105 $ 4 $ 4 $ 4
$1.40 Preferred stock
Beginning balance 47 50 52 $ 6 $ 6 $ 6
Conversion to common stock (6) (3) (2) — — —
Ending balance 41 47 50 $ 6 $ 6 $ 6
Common stock
Beginning balance 130,185 135,373 137,238 $ 26 $ 25 $ 25
Purchases (8,574) (8,035) (6,534) — — —
Exercise of stock options 3,317 2,149 4,351 — 1 —
Conversion of preferred stock to common stock 51 101 41———
Other issuances of common stock 617 597 277———
Ending balance 125,596 130,185 135,373 $ 26 $ 26 $ 25
Capital surplus
Beginning balance $ 1,533 $ 1,369 $ 1,148
Conversion of preferred stock to common stock — 1 —
Exercise of stock options and stock-based compensation 253 163 221
Ending balance $ 1,786 $ 1,533 $ 1,369
Retained earnings
Beginning balance $ 5,808 $ 5,792 $ 5,606
Net income 601 203 365
Dividends declared ($1.55, $1.40 and $1.33 per share, respectively) (198) (187) (179)
Ending balance $ 6,211 $ 5,808 $ 5,792
Treasury stock
Beginning balance $ 4,023 $ 3,447 $ 3,035
Purchases of common stock 750 606 425
Issuance of common stock (33) (30) (13)
Ending balance $ 4,740 $ 4,023 $ 3,447
Accumulated other comprehensive loss
Beginning balance $ (78) $ (97) $ (64)
Currency translation adjustment (2) (17) 97
Deferred (losses) gains on hedge contracts (14) 2 4
Unrealized losses on securities — — (3)
Pension and postretirement benefit adjustments (550) 34 (131)
Other comprehensive (loss) income and adjustments (566) 19 (33)
Ending balance $ (644) $ (78) $ (97)
Comprehensive income
Net income $ 601 $ 203 $ 365
Other comprehensive (loss) income 81 19 (33)
Comprehensive income $ 682 $ 222 $ 332
* Shares issued at the end of 2006, 2005 and 2004 were as follows (In thousands): $2.08 Preferred – 147, 153 and 174 shares, respectively; $1.40 Preferred –
527, 534 and 537 shares, respectively; Common – 208,984, 205,613 and 203,361 shares, respectively.
See Notes to the consolidated financial statements.