Northrop Grumman 2012 Annual Report Download - page 57

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NORTHROP GRUMMAN CORPORATION
-47-
CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS’ EQUITY
Year Ended December 31
$ in millions, except per share amounts 2012 2011 2010
Common stock
Beginning of year $ 254 $ 291 $ 307
Common stock repurchased (21)(40)(20)
Shares issued for stock awards and options 63 4
End of year 239 254 291
Paid-in capital
Beginning of year 3,873 7,778 8,657
Common stock repurchased (1,310)(2,264)(1,143)
Stock compensation and option exercises 359 236 264
Spin-off of shipbuilding business 2(1,877)—
End of year 2,924 3,873 7,778
Retained earnings
Beginning of year 9,699 8,124 6,616
Net earnings 1,978 2,118 2,053
Dividends declared (539)(543)(545)
End of year 11,138 9,699 8,124
Accumulated other comprehensive loss
Beginning of year (3,490)(2,757)(3,014)
Other comprehensive (loss) income, net of tax (1,297)(1,257) 257
Spin-off of shipbuilding business —524 —
End of year (4,787)(3,490)(2,757)
Total shareholders’ equity $ 9,514 $10,336 $13,436
Cash dividends declared per share $ 2.15 $ 1.97 $ 1.84
The accompanying notes are an integral part of these consolidated financial statements.