Estee Lauder 2008 Annual Report Download - page 80

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YEAR ENDED JUNE 30 2008 2007 2006
(In millions)
STOCKHOLDERS’ EQUITY
Common stock, beginning of year $ 2.6 $ 2.5 $ 2.5
Stock-based compensation programs — 0.1 —
Common stock, end of year 2.6 2.6 2.5
Paid-in capital, beginning of year 801.7 581.0 465.2
Stock-based compensation programs 172.7 220.7 115.8
Settlement of accelerated share repurchase program 4.6 — —
Paid-in capital, end of year 979.0 801.7 581.0
Retained earnings, beginning of year 2,731.5 2,361.9 2,203.2
Cumulative effect of adjustments resulting from adoption of
new accounting standards (13.1) 24.2 —
Adjusted retained earnings, beginning of year 2,718.4 2,386.1 2,203.2
Common stock dividends (106.8) (103.8) (85.5)
Stock-based compensation programs (0.3) — —
Net earnings for the year 473.8 449.2 244.2
Retained earnings, end of year 3,085.1 2,731.5 2,361.9
Accumulated other comprehensive income, beginning of year 54.7 64.7 9.4
Other comprehensive income (loss) 56.1 47.3 55.3
Adjustment to initially apply FASB Statement No. 158, net of tax (Note 13) — (57.3) —
Accumulated other comprehensive income, end of year 110.8 54.7 64.7
Treasury stock, beginning of year (2,391.5) (1,387.8) (987.5)
Acquisition of treasury stock, net of issuances (132.8) (1,003.7) (400.3)
Treasury stock, end of year (2,524.3) (2,391.5) (1,387.8)
Total stockholders’ equity $ 1,653.2 $ 1,199.0 $ 1,622.3
COMPREHENSIVE INCOME
Net earnings $ 473.8 $ 449.2 $ 244.2
Other comprehensive income (loss):
Net unrealized investment gains (losses), net of tax (0.5) 0.3 0.1
Net derivative instrument gains (losses), net of tax (0.3) (2.1) (1.7)
Net minimum pension liability adjustments, net of tax — (4.0) 29.9
Net actuarial gains (losses), net of tax (17.8) — —
Net prior service credit (cost), net of tax (23.7) — —
Net transition asset (obligation), net of tax 0.1 — —
Translation adjustments 98.3 53.1 27.0
Other comprehensive income (loss) 56.1 47.3 55.3
Total comprehensive income $ 529.9 $ 496.5 $ 299.5
See notes to consolidated fi nancial statements.
78 THE EST{E LAUDER COMPANIES INC.
CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY
AND COMPREHENSIVE INCOME