Progress Energy 2004 Annual Report Download - page 61

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59
Progress Energy Annual Report 2004
CONSOLIDATED STATEMENTS OF CHANGES IN COMMON STOCK EQUITY
Common
Stock
Outstanding
Common
Stock
Outstanding
Unearned
Restricted
Unearned
ESOP
Accumulated
Other
Comprehensive Retained
Total
Common
Stock
(in millions except per share data)
Shares Amount Shares Shares Income (Loss) Earnings Equity
Balance, January 1, 2002 219 $4,121 $(14) $(114) $(32) $2,043 $6,004
Net income 528 528
Other comprehensive loss (206) (206)
Issuance of shares 19 815 815
Purchase of restricted stock (16) (16)
Restricted stock expense recognition 88
Cancellation of restricted shares (1) 1 –
Allocation of ESOP shares 16 12 28
Dividends ($2.20 per share) (484) (484)
Balance, December 31, 2002 238 4,951 (21) (102) (238) 2,087 6,677
Net income 782 782
Other comprehensive income 188 188
Issuance of shares 8 305 305
Stock options exercised 44
Purchase of restricted stock (1) (7) (8)
Restricted stock expense recognition 10 10
Cancellation of restricted shares (1) 1 –
Allocation of ESOP shares 12 13 25
Dividends ($2.26 per share) (539) (539)
Balance, December 31, 2003 246 5,270 (17) (89) (50) 2,330 7,444
Net Income 759 759
Other comprehensive loss (114) (114)
Issuance of shares 162 62
Stock options exercised 18 18
Purchase of restricted stock (7) (7)
Restricted stock expense recognition 77
Cancellation of restricted shares (4) 4 –
Allocation of ESOP shares 14 13 27
Dividends ($2.32 per share) (563) (563)
Balance, December 31, 2004 247 $5,360 $(13) $(76) $(164) $2,526 $7,633
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME
(in millions)
Years ended December 31 2004 2003 2002
Net Income $759 $782 $528
Other Comprehensive Income (Loss)
Changes in net unrealized losses on cash flow hedges (net of tax benefit of $10, $7 and $18, respectively) (18) (12) (28)
Reclassification adjustment for amounts included in net income (net of tax expense of ($16), ($11) and ($10), respectively) 26 19 16
Reclassification of minimum pension liability to regulatory assets (net of tax expense of ($2)) 4––
Minimum pension liability adjustment (net of tax benefit (expense) of $78, ($112) and $121, respectively) (130) 177 (192)
Foreign currency translation and other 44 (2)
Other Comprehensive Income (Loss) $(114) $188 $(206)
Comprehensive Income $645 $970 $322
See Notes to Consolidated Financial Statements.