Freeport-McMoRan 2008 Annual Report Download - page 69

Consolidated Statements of Stockholders’ Equity
2008 Annual Report FREEPORT-McMoRan COPPER & GOLD INC. 67
Convertible Perpetual Mandatory Convertible Retained Other Common Stock
Preferred Stock Preferred Stock
Common Stock
Capital in Earnings Comprehensive Held in Treasury
Number of At Par Number of At Par Number of At Par Excess of (Accumulated Income Number Stockholders’
Shares Value Shares Value Shares Value Par Value Deficit) (Loss) of Shares At Cost Equity
(In Millions)
Balance at January 1, 2006 1 $ 1,100 – $ – 297 $ 30 $ 2,212 $ 1,086 $ 11 110 $ (2,596) $ 1,843
Conversions of 7% Convertible Senior Notes – – – – 10 1 311 – – – – 312
Exercised and issued stock-based awards – – – – 3 – 93 – – – – 93
Stock-based compensation costs – – – – – – 28 – – – – 28
Tax benefit for stock-based awards – – – – – – 24 – – – – 24
Tender of shares for stock-based awards – – – – – – – – – 1 (53) (53)
Shares purchased – – – – – – – – – 2 (100) (100)
Cumulative effect adjustment to initially apply
EITF 04-6 – – – – – – – (149) – – – (149)
Dividends on common stock – – – – – – – (918) – – – (918)
Dividends on preferred stock – – – – – – – (61) – – – (61)
Comprehensive income (loss):
Net income – – – – – – – 1,457 – – – 1,457
Other comprehensive income (loss), net of taxes:
Change in unrealized derivatives’ fair value – – – – – – – – (9) – – (9)
Reclassification to earnings – – – – – – – – 4 – – 4
Other comprehensive loss – – – – – – – – (5) – – (5)
Total comprehensive income – – – – – – – – – – – 1,452
Adjustment for adoption of SFAS No. 158,
net of taxes of $7 million – – – – – – – – (26) – – (26)
Balance at December 31, 2006 1 $ 1,100 – $ – 310 $ 31 $ 2,668 $ 1,415 $ (20) 113 $ (2,749) $ 2,445
Sale of 6¾% Mandatory Convertible
Preferred Stock – – 29 2,875 – – (72) – – – – 2,803
Common stock issued to acquire Phelps Dodge – – – – 137 14 7,767 – – – – 7,781
Sale of common stock – – – – 47 5 2,811 – – – – 2,816
Conversions of 7% Convertible Senior Notes – – – – – – 6 – – – – 6
Exercised and issued stock-based awards – – – – 3 – 131 – – – – 131
Stock-based compensation costs – – – – – – 86 – – – – 86
Tax benefit for stock-based awards – – – – – – 10 – – – – 10
Tender of shares for stock-based awards – – – – – – – – – 1 (92) (92)
Cumulative effect adjustment to initially
apply FIN 48 – – – – – – – 4 – – – 4
Dividends on common stock – – – – – – – (587) – – – (587)
Dividends on preferred stock – – – – – – – (208) – – – (208)
Comprehensive income (loss):
Net income – – – – – – – 2,977 – – – 2,977
Other comprehensive income (loss), net of taxes:
Unrealized gain on securities – – – – – – – – 2 – – 2
Translation adjustment – – – – – – – – (3) – – (3)
Change in unrealized derivatives’ fair value – – – – – – – – (3) – – (3)
Reclassification to earnings – – – – – – – – 7 – – 7
Defined benefit pension plans:
Net gain during period, net of taxes of
$34 million – – – – – – – – 53 – – 53
Amortization of unrecognized amounts – – – – – – – – 6 – – 6
Other comprehensive income – – – – – – – – 62 – – 62
Total comprehensive income – – – – – – – – – – – 3,039
Balance at December 31, 2007 1 $ 1,100 29 $ 2,875 497 $ 50 $ 13,407 $ 3,601 $ 42 114 $ (2,841) $ 18,234
Conversions of 5½% Convertible Perpetual
Preferred Stock – (268) – – 7 1 290 – – – – 23
Exercised and issued stock-based awards – – – – 1 – 179 – – – – 179
Stock-based compensation costs – – – – – – 100 – – – – 100
Tax benefit for stock-based awards – – – – – – 13 – – – – 13
Tender of shares for stock-based awards – – – – – – – – – 1 (61) (61)
Shares purchased – – – – – – – – – 6 (500) (500)
Dividends on common stock – – – – – – – (527) – – – (527)
Dividends on preferred stock – – – – – – – (274) – – – (274)
Comprehensive income (loss):
Net loss – – – – – – – (11,067) – – – (11,067)
Other comprehensive income (loss), net of taxes:
Unrealized loss on securities – – – – – – – – (9) – – (9)
Translation adjustment – – – – – – – – (4) – – (4)
Defined benefit pension plans:
Net loss during period, net of taxes of
$190 million – – – – – – – – (341) – – (341)
Amortization of unrecognized amounts – – – – – – – – 7 – – 7
Other comprehensive loss – – – – – – – – (347) – – (347)
Total comprehensive loss – – – – – – – – – – – (11,414)
Balance at December 31, 2008 1 $ 832 29 $ 2,875 505 $ 51 $ 13,989 $ (8,267) $ (305) 121 $ (3,402) $ 5,773
The accompanying Notes to Consolidated Financial Statements are an integral part of these financial statements.
Accumulated