Northrop Grumman 2009 Annual Report Download - page 74

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CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS’ EQUITY
$ in millions, except per share amounts 2009 2008 2007
Year Ended December 31
Common Stock
At beginning of year $ 327 $ 338 $ 346
Common stock repurchased (23) (21) (15)
Conversion of preferred stock 6
Employee stock awards and options 347
At end of year 307 327 338
Paid-in Capital
At beginning of year 9,645 10,661 11,346
Common stock repurchased (1,098) (1,534) (1,160)
Conversion of preferred stock 344
Employee stock awards and options 110 174 475
At end of year 8,657 9,645 10,661
Retained Earnings
At beginning of year 5,590 7,387 6,183
Net earnings (loss) 1,686 (1,262) 1,790
Adoption of new GAAP accounting guidance (3) (66)
Dividends declared (539) (532) (520)
At end of year 6,737 5,590 7,387
Accumulated Other Comprehensive Loss
At beginning of year (3,642) (699) (1,260)
Other comprehensive income (loss), net of tax 628 (2,943) 607
Adjustment to deferred tax benefit recorded on adoption of accounting
standard (46)
At end of year (3,014) (3,642) (699)
Total shareholders’ equity $12,687 $11,920 $17,687
Cash dividends declared per share $ 1.69 $ 1.57 $ 1.48
The accompanying notes are an integral part of these consolidated financial statements.
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NORTHROP GRUMMAN CORPORATION
eBP - v54508-i003_a.pdf - Page 68 of 124 - March 11, 2010 - 20:02:40