Jack In The Box 2010 Annual Report Download - page 71

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Table of Contents


equivalents at the then-current market price of our common stock. During fiscal 2009 and 2008, 59,949 and 26,627 shares of
common stock were issued in connection with director retirements having a grant date fair value of $1.6 million and $0.4 million,
respectively. No deferrals were settled in 2010.
The following is a summary of the stock equivalent activity for fiscal 2010:


 
 
Stock equivalents outstanding at September 27, 2009 162,404 $ 14.16
Deferred directors’ compensation 7,914 20.85
Stock equivalents outstanding at October 3, 2010 170,318 $ 14.47
Employee stock purchase plan In fiscal 2010, 2009 and 2008, 14,565, 15,548 and 15,567 shares, respectively, were
purchased through the ESPP at an average price of $19.32, $19.99 and $25.65, respectively.
 
Preferred stock We have 15,000,000 shares of preferred stock authorized for issuance at a par value of $0.01 per share. No
preferred shares have been issued.
Repurchases of common stock In November 2007, the Board of Directors approved a program to repurchase up to
$200.0 million in shares of our common stock over three years expiring November 9, 2010. During 2010, we repurchased
approximately 4.9 million shares at an aggregate cost of $97.0 million. As of October 3, 2010, the aggregate remaining amount
authorized for repurchase was $3.0 million. In November 2010, the Board of Directors approved a new program to repurchase,
within the next year, up to $100.0 million in shares of our common stock.
Comprehensive income Our total comprehensive income, net of taxes, was as follows :
  
Net earnings $ 70,210 $ 118,408 $ 119,279
Cash flow hedges:
Net change in fair value of derivatives (837) (6,147) (5,223)
Amount of net loss reclassified to earnings during the year 4,719 6,189 2,013
Total cash flow hedges 3,882 42 (3,210)
Tax effect (1,481) (21) 1,226
2,401 21 (1,984)
Unrecognized periodic benefit costs
Effect of unrecognized net actuarial gains (losses) and prior service cost 3,625 (102,912) 11,907
Tax effect (1,371) 39,254 (4,628)
2,254 (63,658) 7,279
Total comprehensive income $ 74,865 $ 54,771 $ 124,574
F-31