Huntington National Bank 2003 Annual Report Download - page 102

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CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS’ EQUITY
Preferred Stock Common Stock Treasury Stock
Accumulated
Other
Comprehensive
Income (Loss)
Retained
Earnings
(Deficit) Total(in thousands) Shares Amount Shares Amount Shares Amount
Balance —January 1, 2001 — $ — 257,866 $2,493,645 (7,007) $(129,432) $(24,520) $ (4,464) $2,335,229
Comprehensive income:
Net income 134,796 134,796
Cumulative effect of change in accounting
principles for derivatives (9,113) (9,113)
Unrealized net holding gains on securities
available for sale arising during the
period, net of reclassification
adjustment for net gains included in net
income 53,989 53,989
Unrealized gains on derivative
instruments used in cash flow hedging
relationships 5,132 5,132
Total comprehensive income 184,804
Cash dividends declared ($0.72 per share) (180,798) (180,798)
Stock options exercised (2,921) 264 4,378 1,457
Treasury shares sold to employee benefit
plans 71 1,205 1,205
Balance —December 31, 2001 — — 257,866 2,490,724 (6,672) (123,849) 25,488 (50,466) 2,341,897
Comprehensive income:
Net income 323,731 323,731
Unrealized net holding gains on securities
available for sale arising during the
period, net of reclassification
adjustment for net gains included in net
income 27,387 27,387
Unrealized gains on derivative
instruments used in cash flow hedging
relationships 9,620 9,620
Minimum pension liability (195) (195)
Total comprehensive income 360,543
Stock issued for acquisitions (838) 1,038 19,989 19,151
Cash dividends declared ($0.64 per share) (154,794) (154,794)
Stock options exercised (3,545) 373 6,757 3,212
Treasury shares purchased (19,161) (370,012) (370,012)
Other (1,920) (565) (8,284) (10,204)
Balance —December 31, 2002 — — 257,866 2,484,421 (24,987) (475,399) 62,300 118,471 2,189,793
Comprehensive income:
Net income 372,363 372,363
Unrealized net holding losses on securities
available for sale arising during the
period, net of reclassification
adjustment for net gains included in net
income (47,427) (47,427)
Unrealized losses on derivative
instruments used in cash flow hedging
relationships (11,081) (11,081)
Minimum pension liability (1,114) (1,114)
Total comprehensive income 312,741
Cash dividends declared ($0.67 per share) (153,476) (153,476)
Stock options exercised (609) 481 8,691 8,082
Treasury shares purchased (4,300) (81,061) (81,061)
Other (270) (52) (807) (1,077)
Balance —December 31, 2003 — $ — 257,866 $2,483,542 (28,858) $(548,576) $ 2,678 $ 337,358 $2,275,002
See notes to consolidated financial statements.
100 HUNTINGTON BANCSHARES INCORPORATED