Foot Locker 2008 Annual Report Download - page 47

31
CONSOLIDATED STATEMENTS OF SHAREHOLDERS’ EQUITY
2008 2007 2006
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 ................................. 158,997 $ 676 157,810 $ 653 157,280 $ 635
Restricted stock issued under stock option and award plans ........ 245 — 513 — — (3)
Forfeitures of restricted stock ............................... — 2 — — — —
Share-based compensation expense ........................... — 9 — 10 — 10
Issued under director and employee stock plans, net of tax ......... 357 4 674 13 530 11
Issued at end of year ...................................... 159,599 691 158,997 676 157,810 653
Common stock in treasury at beginning of year .................. (4,523) (99) (2,107) (47) (1,776) (38)
Reissued under employee stock plans .......................... — — — — 122 3
Restricted stock issued under stock option and award plans ........ — — — — 157 3
Forfeitures/cancellations of restricted stock .................... (90) (2) (25) — (30) (1)
Shares of common stock used to satisfy tax
withholding obligations ................................ (65) (1) (95) (2) (241) (6)
Stock repurchases ........................................ — — (2,283) (50) (334) (8)
Exchange of options ....................................... (3)—(13 )—(5 )—
Common stock in treasury at end of year ....................... (4,681) (102) (4,523) (99)(2,107)(47)
154,918 589 154,474 577 155,703 606
Retained Earnings
Balance at beginning of year ................................ 1,754 1,785 1,601
Cumulative effect of adjustments resulting from
the adoption of SAB 108 ................................ — — (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 ......................... 1,754 1,786 1,595
Net (loss) income ......................................... (80) 45 251
Cash dividends declared on common stock
$0.60, $0.50 and $0.40 per share, respectively. . . . . . . . . . . . . . . . (93) (77) (61)
Balance at end of year ..................................... 1,581 1,754 1,785
Accumulated Other Comprehensive Loss
Foreign Currency Translation Adjustment
Balance at beginning of year ................................ 93 37 10
Translation adjustment arising during the period, net of tax ........ (83) 56 27
Balance at end of year ..................................... 10 93 37
Cash Flow Hedges
Balance at beginning of year ................................ 1 — —
Change during year, net of tax ............................... 1 1 —
Balance at end of year ..................................... 21—
Minimum Pension Liability Adjustment
Balance at beginning of year ................................ — — (181)
Change during year, net of tax ............................... — — 181
Balance at end of year ..................................... ———
Pension Adjustments
Balance at beginning of year ................................ (162) (133) —
Adoption of SFAS No. 158 ................................... — — (133)
Change during year, net of tax ............................... (91)(29)—
Balance at end of year ..................................... (253) (162) (133)
Available-for-Sale Securities
Balance at beginning of year ................................ (2) — —
Change during the year, without tax benefit .................... (3)(2)—
Balance at end of year ..................................... (5) (2) —
Total Accumulated Other Comprehensive Loss ................... (246) (70) (96)
Total Shareholders’ Equity .................................. $ 1,924 $ 2,261 $2,295
See Accompanying Notes to Consolidated Financial Statements.