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40
HSN, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF SHAREHOLDERS’ EQUITY
(In thousands)
Shares Amount Shares Amount
Balance as of December 31, 2005
-
$ -
-
$ -
$ 4,445,923 $ (1,305,373)
$ - $ - $ 17,810 $ 3,158,360
Comprehensive income:
-
Net income
-
- -
- 122,817 -
- - - 122,817
Net gains of derivative contracts
-
- -
- - -
- - 4,319 4,319
Foreign currency translation
-
- -
- - -
- - 16,441 16,441
Comprehensive income:
143,577
Net transfers from IAC
-
- -
- 279 -
- - - 279
Net change in receivables from IAC and
subsidiaries
- - - - - (178,500) - - - (178,500)
Balance as of December 31, 2006
-
-
-
-
4,569,019 (1,483,873)
- - 38,570 3,123,716
Comprehensive income:
-
Net income
-
- -
- 164,804 -
- - - 164,804
Net losses of derivative contracts
- - - - - - - - (2,355) (2,355)
Foreign currency translation
-
- -
- - -
- - (35,045) (35,045)
Comprehensive income:
- - - - - - - - - 127,404
Cumulative effect of adoption of FIN 48
- - - - (225) - - - - (225)
Net transfers to IAC
-
- -
- (210,725) -
- - - (210,725)
Net change in receivables from IAC and
subsidiaries
- - - - - (97,284) - - - (97,284)
Balance as of December 31, 2007
-
-
-
-
4,522,873 (1,581,157)
- - 1,170 2,942,886
Comprehensive loss:
-
Net loss prior to spin-off
-
- -
- (242,354) -
- - - (242,354)
Net loss after spin-off
- - - - - - - (2,148,534) - (2,148,534)
Foreign currency translation
-
- -
- - -
- - (1,416) (1,416)
Comprehensive loss:
- - - - - - - - - (2,392,304)
Net change in transfers to and receivables
from IAC
-
- -
- - 22,531
- - - 22,531
Distribution to IAC
- - - - (333,799) - - - - (333,799)
Non-cash compensation expense for equity
awards
-
- -
- - 16,314
3,972 - - 20,286
Stock-based awards accounted for as a
liability
- - - - - (2,136) 718 - - (1,418)
Capitalization as a result of the spin-off, net
of extinguishment of IAC receivables
-
- -
- (3,946,720) 1,544,448
2,402,272 - - -
Issuance of common stock at spin-off
- - 56,206 562 - - (562) - - -
Board of Directors deferred compensation
- - - - - - 29 - - 29
Issuance of common stock upon exercise of
stock options, including related tax benefit of
$0
-
- 16
- - -
74 - - 74
Balance as of December 31, 2008
-
$ - 56,222
$ 562 $ - $ -
$ 2,406,503 $ (2,148,534) $ (246) $ 258,285
Accumulated
Other
Comprehensive
(Loss) Income Total
Retained
Deficit
Invested
Capital
Additional
Paid-in
Capital
Preferred Stock Common Stock
Receivables
From IAC
and
Subsidiaries
The accompanying notes are an integral part of these consolidated financial statements.