Foot Locker 2007 Annual Report Download - page 46

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30
See Accompanying Notes to Consolidated Financial Statements.
CONSOLIDATED STATEMENTS OF SHAREHOLDERS’ EQUITY
2007 2006 2005
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 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 157,810 $653 157,280 $ 635 156,155 $ 608
Restricted stock issued under stock option and award plans . . . . . . . 513 — — (3) 225 —
Forfeitures of restricted stock . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . — — — — — 2
Share-based compensation expense .......................... —10 —10 — 6
Issued under director and employee stock plans, net of tax . . . . . . . . 674 13 530 11 900 19
Issued at end of year . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 158,997 676 157, 810 653 157,280 635
Common stock in treasury at beginning of year . . . . . . . . . . . . . . . . . (2,107) (47) (1,776) (38) (64) (2)
Reissued under employee stock plans ......................... — — 122 390 2
Restricted stock issued under stock option and award plans . . . . . . . — — 157 3 — —
Forfeitures/cancellations of restricted stock ................... (25) — (30) (1) (135) (2)
Shares of common stock used to satisfy tax
withholding obligations ............................... (95) (2) (241) (6) (49) (1)
Stock repurchases . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (2,283) (50) (334) (8) (1,590) (35)
Exchange of options ...................................... (13) — (5) — (28) —
Common stock in treasury at end of year . . . . . . . . . . . . . . . . . . . . . . (4,523) (99) (2,107) (47) (1,776) (38)
154,474 577 155,703 606 155,504 597
Retained Earnings
Balance at beginning of year . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,785 1,601 1,386
Cumulative effect of adjustments resulting from
the adoption of SAB 108, net of tax (see note 3) . . . . . . . . . . . . . — (6) —
Cumulative effect of adjustments resulting from
the adoption of FIN 48, net of tax (see note 1) .............. 1 — —
Adjusted balance at beginning of year . . . . . . . . . . . . . . . . . . . . . . . . 1,786 1,595 1,386
Net income ............................................. 51 251 264
Cash dividends declared on common stock
$0.50, $0.40 and $0.32 per share, respectively ............... (77) (61) (49)
Balance at end of year . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,7601,785 1,601
Accumulated Other Comprehensive Loss
Foreign Currency Translation Adjustment
Balance at beginning of year . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 37 10 35
Translation adjustment arising during the period, net of tax . . . . . . . 60 27 (25)
Balance at end of year . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 97 37 10
Cash Flow Hedges
Balance at beginning of year . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . — — (1)
Change during year, net of tax . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1 — 1
Balance at end of year . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1 — —
Minimum Pension Liability Adjustment
Balance at beginning of year . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . — (181) (196)
Change during year, net of tax . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . — 181 15
Balance at end of year . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . — — (181)
Pension Adjustments
Balance at beginning of year . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (133) — —
Adoption of SFAS No. 158 .................................. — (133) —
Change during year, net of tax . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (29) — —
Balance at end of year . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (162) (133) —
Unrealized loss on available-for-sale securities . . . . . . . . . . . . . . . . . (2) — —
Total Accumulated Other Comprehensive Loss . . . . . . . . . . . . . . . . . (66) (96) (171)
Total Shareholders’ Equity ................................. $2,271 $ 2,295 $2,027