Progress Energy 2004 Annual Report Download - page 84

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There are no adjustments to net income or to income
from continuing operations between the calculations of
basic and fully diluted earnings per common share.
ESOP shares that have not been committed to be
released to participants’ accounts are not considered
outstanding for the determination of earnings per
common share. The weighted-average of these shares
totaled 3.6 million, 4.1 million and 4.8 million for the years
ended December 31, 2004, 2003 and 2002, respectively.
There were 3.0 million, 5.3 million and 92 thousand stock
options outstanding at December 31, 2004, 2003 and 2002,
respectively, which were not included in the weighted-
average number of shares for computing the fully diluted
earnings per share because they were antidilutive.
D. Accumulated Other Comprehensive Loss
Components of accumulated other comprehensive loss
are as follows:
12. PREFERRED STOCK OF
SUBSIDIARIES – NOT SUBJECT
TO MANDATORY REDEMPTION
All of the Company’s preferred stock was issued by its
subsidiaries and was not subject to mandatory redemption.
Preferred stock outstanding at December 31, 2004 and
2003 consisted of the following:
82
Notes to Consolidated Financial Statements
(in millions, except share data and par value)
Progress Energy Carolinas, Inc.
Authorized –
300,000 shares, cumulative, $100 par value Preferred Stock;
20,000,000 shares, cumulative, $100 par value Serial Preferred Stock
$5.00 Preferred – 236,997 shares outstanding
(redemption price $110.00) $24
$4.20 Serial Preferred – 100,000 shares outstanding
(redemption price $102.00) 10
$5.44 Serial Preferred – 249,850 shares outstanding
(redemption price $101.00) 25
$59
Progress Energy Florida, Inc.
Authorized –
4,000,000 shares, cumulative,
$100 par value Preferred Stock;
5,000,000 shares, cumulative, no par value Preferred Stock;
1,000,000 shares, $100 par value Preference Stock;
$100 par value Preferred Stock:
4.00% – 39,980 shares outstanding
(redemption price $104.25) $4
4.40% – 75,000 shares outstanding
(redemption price $102.00) 8
4.58% – 99,990 shares outstanding
(redemption price $101.00) 10
4.60% – 39,997 shares outstanding
(redemption price $103.25) 4
4.75% – 80,000 shares outstanding
(redemption price $102.00) 8
$34
Total Preferred Stock of Subsidiaries $93
(in millions)
2004 2003
Loss on cash flow hedges $(28) $(36)
Minimum pension liability adjustments (142) (16)
Foreign currency translation and other 62
Total accumulated other comprehensive loss $(164) $(50)