Huntington National Bank 2007 Annual Report Download - page 78

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CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS’ EQUITY HUNTINGTON BANCSHARES INCORPORATED
(in thousands) Shares Amount Shares Amount
Capital
Surplus Shares Amount
Accumulated
Other
Comprehensive
Loss
Retained
Earnings Total
Preferred Stock Common Stock Treasury Stock
Balance — January 1, 2005 — $— 257,866 $ 2,484,204 (26,261) $(499,259) $(10,903) $ 563,596 $ 2,537,638
Comprehensive Income:
Net income 412,091 412,091
Unrealized net losses on investment securities arising during
the period, net of reclassification for net realized losses, net
of tax of $11,626 (21,333) (21,333)
Unrealized gains on cash flow hedging derivatives, net of tax
of ($5,898) 10,954 10,954
Minimum pension liability adjustment, net of tax of $437 (811) (811)
Total comprehensive income 400,901
Cash dividends declared ($0.845 per share) (193,843) (193,843)
Stock options exercised 2,999 1,866 36,195 39,194
Treasury shares purchased (9,591) (231,656) (231,656)
Other 4,123 226 1,144 5,267
Balance — December 31, 2005 — — 257,866 2,491,326 (33,760) (693,576) (22,093) 781,844 2,557,501
Comprehensive Income:
Net income 461,221 461,221
Unrealized net gains on investment securities arising during
the period, net of reclassification for net realized losses, net
of tax of ($26,369) 48,270 48,270
Unrealized gains on cash flow hedging derivatives, net of tax
of ($970) 1,802 1,802
Minimum pension liability adjustment, net of tax of ($145) 269 269
Total comprehensive income 511,562
Cumulative effect of change in accounting principle for
servicing financial assets, net of tax of $6,521 12,110 12,110
Cumulative effect of change in accounting for funded status
of pension plans, net of tax of $44,861 (83,314) (83,314)
Cash dividends declared ($1.00 per share) (239,406) (239,406)
Shares issued pursuant to acquisition 53,366 25,350 522,390 575,756
Recognition of the fair value of share-based compensation 18,574 18,574
Treasury shares purchased (15,981) (378,835) (378,835)
Stock options exercised (3,007) 2,013 43,836 40,829
Other 310 (14) (761) (451)
Balance — December 31, 2006 — — 257,866 2,560,569 (22,392) (506,946) (55,066) 1,015,769 3,014,326
Comprehensive Income:
Net income 75,169 75,169
Unrealized net losses on investment securities arising
during the period, net of reclassification
(1)
for net
realized gains, net of tax of $13,245 (24,265) (24,265)
Unrealized losses on cash flow hedging derivatives, net of
tax of $6,707 (12,455) (12,455)
Change in accumulated unrealized losses for pension and
other post-retirement obligations, net of tax of ($22,710) 42,175 42,175
Total comprehensive income 80,624
Assignment of $0.01 par value per share for each share of
common stock (2,557,990) 2,557,990 —
Cash dividends declared ($1.06 per share) (319,249) (319,249)
Shares issued pursuant to acquisitions 129,639 1,296 3,130,996 188 4,245 3,136,537
Recognition of the fair value of share-based
compensation 21,836 21,836
Stock options exercised (9,040) 1,111 25,822 16,782
Other 1,534 (150) (3,250) (1,716)
Balance — December 31, 2007 —$—387,505 $ 3,875 $5,703,316 (21,243) $(480,129) $(49,611) $ 771,689 $5,949,140
(1) Reclassification adjustments represent net unrealized gains or losses as of December 31 of the prior year on investment securities that were sold during the current
year. For the years ended December 31, 2007, 2006, and 2005 the reclassification adjustments were $19,330, net of tax of ($10,408), $47,574, net of tax of ($25,617),
and $5,236, net of tax of ($2,819), respectively.
See Notes to Consolidated Financial Statements.
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