E-Z-GO 2007 Annual Report Download - page 61

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40
Accumu-
lated
Other Total
$2.08 $1.40 Compre- Share-
Preferred Preferred Common Capital Retained Treasury hensive holders’
(In millions, except per share data) Stock Stock Stock Surplus Earnings Stock Loss Equity
Balance at January 1, 2005 $ 4 $ 6 $25 $1,369 $5,792 $(3,447) $ (97) $3,652
Net income 203 203
Currency translation adjustment, net of income
taxes of $8 (17) (17)
Deferred gains on hedge contracts, net of income
taxes of $3 2 2
Minimum pension adjustment, net of income taxes of $1 34 34
Comprehensive income 222
Dividends declared ($0.70 per share) (187) (187)
Conversion of preferred stock to common stock 1 1
Exercise of stock options and stock-based compensation 1 163 164
Purchases of common stock (606) (606)
Issuance of common stock 30 30
Balance at December 31, 2005 $ 4 $ 6 $26 $1,533 $5,808 $(4,023) $ (78) $3,276
Net income 601 601
Currency translation adjustment, net of income
tax benefi t of $28 45 45
Deferred losses on hedge contracts, net of income
tax benefi t of $3 (5) (5)
Reclassifi cation adjustment, net of income
tax benefi t of $4 (9) (9)
Reclassifi cation due to sale of Fastening
Systems, net of income taxes of $0 (8) (8)
Minimum pension adjustment, net of income taxes of $24 58 58
Comprehensive income 682
Transition adjustment due to change in accounting,
net of income tax benefi t of $348 (647) (647)
Dividends declared ($0.78 per share) (198) (198)
Exercise of stock options and stock-based compensation 253 253
Purchases of common stock (750) (750)
Issuance of common stock 33 33
Balance at December 30, 2006 $ 4 $ 6 $26 $1,786 $6,211 $(4,740) $(644) $2,649
Net income 917 917
Currency translation adjustment, net of income
tax benefi t of $13 57 57
Deferred gains on hedge contracts, net of income
taxes of $22 53 53
Reclassifi cation adjustment, net of income taxes of $17 38 38
Pension adjustment, net of income tax benefi t of $23 96 96
Comprehensive income 1,161
Cumulative effect of change in accounting upon
adoption of FSP 13-2 (33) (33)
Cumulative effect of change in accounting upon
adoption of FIN 48 22 22
Retirement of treasury shares (2) (6) (10) (770) (4,123) 4,911 —
Stock split issued in the form of a stock dividend 16 (16) —
Dividends declared ($ 0.85 per share) (212) (212)
Exercise of stock options and stock-based compensation 157 4 161
Purchases of common stock (295) (295)
Issuance of common stock 20 34 54
Balance on December 29, 2007 $ 2 $— $32 $1,193 $2,766 $ (86) $ (400) $3,507
See Notes to the Consolidated Financial Statements.
Consolidated Statements of Shareholders’ Equity