Estee Lauder 2009 Annual Report Download - page 120

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YEAR ENDED JUNE 30 2009 2008 2007
(In millions)
STOCKHOLDERS’ EQUITY
Common stock, beginning of year $ 2.6 $ 2.6 $ 2.5
Stock-based compensation programs — — 0.1
Common stock, end of year 2.6 2.6 2.6
Paid-in capital, beginning of year 979.0 801.7 581.0
Stock-based compensation programs 166.6 172.7 220.7
Settlement of accelerated share repurchase program — 4.6 —
Paid-in capital, end of year 1,145.6 979.0 801.7
Retained earnings, beginning of year 3,085.1 2,731.5 2,361.9
Cumulative effect of adjustments resulting from adoption of
new accounting standards — (13.1) 24.2
Adjusted retained earnings, beginning of year 3,085.1 2,718.4 2,386.1
Common stock dividends (108.5) (106.8) (103.8)
Stock-based compensation programs — (0.3) —
Net earnings for the year 218.4 473.8 449.2
Retained earnings, end of year 3,195.0 3,085.1 2,731.5
Accumulated other comprehensive income, beginning of year 110.8 54.7 64.7
Other comprehensive income (loss) (227.9) 56.1 47.3
Adjustment to initially apply new accounting standard, net of tax — — (57.3)
Accumulated other comprehensive income (loss), end of year (117.1) 110.8 54.7
Treasury stock, beginning of year (2,524.3) (2,391.5) (1,387.8)
Acquisition of treasury stock, net of issuances (61.8) (132.8) (1,003.7)
Treasury stock, end of year (2,586.1) (2,524.3) (2,391.5)
Total stockholders’ equity $ 1,640.0 $ 1,653.2 $ 1,199.0
COMPREHENSIVE INCOME (LOSS)
Net earnings $ 218.4 $ 473.8 $ 449.2
Other comprehensive income (loss):
Net unrealized investment gains (losses), net of tax (0.5) (0.5) 0.3
Net derivative instrument gains (losses), net of tax (6.4) (0.3) (2.1)
Net minimum pension liability adjustments, net of tax — — (4.0)
Net actuarial gains (losses), net of tax (87.4) (17.8) —
Net prior service credit (cost), net of tax 5.5 (23.7) —
Net transition asset (obligation), net of tax — 0.1 —
Translation adjustments, net of tax (139.1) 98.3 53.1
Other comprehensive income (loss) (227.9) 56.1 47.3
Total comprehensive income (loss) $ (9.5) $ 529.9 $ 496.5
See notes to consolidated fi nancial statements.
THE EST{E LAUDER COMPANIES INC. 119
CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY
AND COMPREHENSIVE INCOME (LOSS)