Pepsi 2006 Annual Report Download - page 59

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Consolidated Statement of
Common Shareholders’ Equity
PepsiCo, Inc. and Subsidiaries
Fiscal years ended December 30, 2006, December 31, 2005 and December 25, 2004
2006 2005 2004
(in millions) Shares Amount Shares Amount Shares Amount
Common Stock ................................................................. 1,782 $ 30 1,782 $ 30 1,782 $ 30
Capital in Excess of Par Value
Balance, beginning of year ......................................... 614 618 548
Stock-based compensation expense........................... 270 311 368
Stock option exercises(a) .............................................. (300) (315) (298)
Balance, end of year.................................................... 584 614 618
Retained Earnings
Balance, beginning of year ......................................... 21,116 18,730 15,961
Net income................................................................... 5,642 4,078 4,212
Cash dividends declared — common.......................... (1,912) (1,684) (1,438)
Cash dividends declared — preferred ........................ (1) (3) (3)
Cash dividends declared — RSUs ................................ (8) (5) (2)
Balance, end of year.................................................... 24,837 21,116 18,730
Accumulated Other Comprehensive Loss
Balance, beginning of year ......................................... (1,053) (886) (1,267)
Currency translation adjustment ................................ 465 (251) 401
Cash flow hedges, net of tax:
Net derivative (losses)/gains ................................... (18) 54 (16)
Reclassification of (gains)/losses to net income .... (5) (8) 9
Unamortized pension and retiree medical, net of tax.. (1,782) ––
Minimum pension liability adjustment, net of tax.... 138 16 (19)
Unrealized gain on securities, net of tax ................... 924 6
Other ............................................................................ –(2) –
Balance, end of year.................................................... (2,246) (1,053) (886)
Repurchased Common Stock
Balance, beginning of year ......................................... (126) (6,387) (103) (4,920) (77) (3,376)
Share repurchases........................................................ (49) (3,000) (54) (2,995) (58) (2,994)
Stock option exercises ................................................. 31 1,619 31 1,523 32 1,434
Other ............................................................................ –10 –5 –16
Balance, end of year.................................................... (144) (7,758) (126) (6,387) (103) (4,920)
Total Common Shareholders’ Equity .............................. $15,447 $14,320 $13,572
2006 2005 2004
Comprehensive Income
Net income................................................................... $5,642 $4,078 $4,212
Currency translation adjustment ................................ 465 (251) 401
Cash flow hedges, net of tax ...................................... (23) 46 (7)
Minimum pension liability adjustment, net of tax....... 516 (19)
Unrealized gain on securities, net of tax ................... 924 6
Other ............................................................................ –(2) –
Total Comprehensive Income .......................................... $6,098 $3,911 $4,593
(a) Includes total tax benefits of $130 million in 2006, $125 million in 2005 and $183 million in 2004.
See accompanying notes to consolidated financial statements.
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