Foot Locker 2006 Annual Report Download - page 45

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29
CONSOLIDATED STATEMENTS OF SHAREHOLDERS’ EQUITY
2006 2005 2004
Shares Amount Shares Amount Shares Amount
(shares in thousands, amounts in millions)
Common Stock and Paid-In Capital
Par value $0.01 per share, 500 million shares authorized
Issued at beginning of year .............................. 157,280 $ 635 156,155 $ 608 144,009 $ 411
Restricted stock issued under stock option and award plans ..... — (3) 225 — 400 —
Forfeitures of restricted stock ............................ — — — 2 — 2
Share-based compensation expense ........................ — 10 — 6 — 8
Conversion of convertible debt ............................ — — — — 9,490 150
Reclassification of convertible debt issuance costs ............ — — — — — (3)
Issued under director and employee stock plans, net of tax ..... 530 11 900 19 2,256 40
Issued at end of year ................................... 157,810 653 157,280 635 156,155 608
Common stock in treasury at beginning of year ............... (1,776) (38) (64) (2) (57) (1)
Reissued under employee stock plans ....................... 122 3 90 2 260 5
Restricted stock issued under stock option and award plans ..... 157 3 — — — —
Forfeitures/cancellations of restricted stock ................. (30) (1) (135) (2) (100) (2)
Shares of common stock used to satisfy tax
withholding obligations ............................. (241) (6) (49) (1) (137) (3)
Stock repurchases. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (334) (8) (1,590) (35) — —
Exchange of options .................................... (5) — (28) — (30) (1)
Common stock in treasury at end of year .................... (2,107) (47) (1,776) (38) (64) (2)
155,703 606 155,504 597 156,091 606
Retained Earnings
Balance at beginning of year ............................. 1,601 1,386 1,132
Cumulative effect of adjustments resulting from
the adoption of SAB 108, net of tax (see note 2) ........... (6) — —
Adjusted balance at beginning of year ...................... 1,595 1,386 1,132
Net income ........................................... 251 264 293
Cash dividends declared on common stock
$0.40, $0.32 and $0.26 per share, respectively ............. (61) (49) (39)
Balance at end of year .................................. 1,785 1,601 1,386
Accumulated Other Comprehensive Loss
Foreign Currency Translation Adjustment
Balance at beginning of year ............................. 10 35 16
Translation adjustment arising during the period, net of tax ..... 27 (25) 19
Balance at end of year .................................. 37 10 35
Cash Flow Hedges
Balance at beginning of year ............................. — (1) (1)
Change during year, net of tax ............................ — 1 —
Balance at end of year .................................. — — (1)
Minimum Pension Liability Adjustment
Balance at beginning of year ............................. (181) (196) (182)
Change during year, net of tax ............................ 181 15 (14)
Balance at end of year .................................. — (181) (196)
Adjustment related to initial application of
SFAS No. 158, net of tax (see note 21) ................... (133) — —
Total Accumulated Other Comprehensive Loss ................ (96) (171) (162)
Total Shareholders’ Equity ............................... $ 2,295 $ 2,027 $ 1,830
See Accompanying Notes to Consolidated Financial Statements.