Progress Energy 2006 Annual Report Download - page 96

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N O T E S T O C O N S O L I D A T E D F I N A N C I A L S T A T E M E N T S
94
There were 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 shares totaled 2.4 million,
3.0 million and 3.6 million for the years ended December 31,
2006, 2005 and 2004, respectively. There were 1.8 million,
2.9 million and 3.0 million stock options outstanding at
December 31, 2006, 2005 and 2004, 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,
net of tax, at December 31 were as follows:
11. PREFERRED STOCK OF SUBSIDIARIES –
NOT SUBJECT TO MANDATORY REDEMPTION
All of our preferred stock was issued by our subsidiaries
and was not subject to mandatory redemption. At
December 31, 2006 and 2005, preferred stock outstanding
consisted of the following:
(in millions) 2006 2005 2004
Weighted-average common shares – basic 250.4 246.6 242.2
Net effect of dilutive stock-based
compensation plans 0.4 0.4 0.9
Weighted-average shares – fully diluted 250.8 247.0 243.1 (in millions) 2006 2005
(Loss) gain on cash flow hedges $(14) $55
Minimum pension liability adjustments – (160)
SFAS No. 158 benefits adjustment (39) –
Other 41
Total accumulated other comprehensive loss $(49) $(104)
Shares
(dollars in millions, except share and per share data) Authorized Outstanding Redemption Price Total
PEC
Cumulative, no par value $5 Preferred Stock 300,000
$5 Preferred 236,997 $110.00 $24
Cumulative, no par value Serial Preferred Stock 20,000,000
$4.20 Serial Preferred 100,000 102.00 10
$5.44 Serial Preferred 249,850 101.00 25
Cumulative, no par value Preferred Stock A 5,000,000 – – –
No par value Preference Stock 10,000,000 – – –
Total PEC 59
PEF
Cumulative, $100 par value Preferred Stock 4,000,000
4.00% $100 par value Preferred 39,980 104.25 4
4.40% $100 par value Preferred 75,000 102.00 8
4.58% $100 par value Preferred 99,990 101.00 10
4.60% $100 par value Preferred 39,997 103.25 4
4.75% $100 par value Preferred 80,000 102.00 8
Cumulative, no par value Preferred Stock 5,000,000 – – –
$100 par value Preference Stock 1,000,000 – – –
Total PEF 34
Total preferred stock of subsidiaries $93