Progress Energy 2010 Annual Report Download - page 63

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Progress Energy Annual Report 2010
CONSOLIDATED STATEMENTS OF CHANGES IN TOTAL EQUITY
(in millions except per share data)
Common Stock Outstanding Unearned ESOP
Shares
Accumulated Other
Comprehensive
(Loss) Income Retained Earnings Noncontrolling Interests Total EquityShares Amount
Balance, December 31, 2007 260 $6,028 $(37) $(34) $2,438 $84 $8,479
Net income – – – 830 6 836
Other comprehensive loss – – (82) – – (82)
Issuance of shares 4 132 – – – – 132
Allocation of ESOP shares 13 12 – – – 25
Stock-based compensation expense 33 – – – – 33
Dividends ($2.465 per share) – – – (646) – (646)
Distributions to noncontrolling interests – – – – (85) (85)
Contributions from noncontrolling interests – – – – 2 2
Other – – – – (1) (1)
Balance, December 31, 2008 264 6,206 (25) (116) 2,622 6 8,693
Net income(a) – – – 757 – 757
Other comprehensive income – – 29 – – 29
Issuance of shares 17 623 – – – – 623
Allocation of ESOP shares 8 13 – – – 21
Stock-based compensation expense 36 – – – – 36
Dividends ($2.480 per share) – – – (704) – (704)
Distributions to noncontrolling interests – – – – (1) (1)
Other – – – – 1 1
Balance, December 31, 2009 281 6,873 (12) (87) 2,675 6 9,455
Cumulative effect of change in
accounting principle (Note 2) – – – – (2) (2)
Net income(a) – – – 856 3 859
Other comprehensive loss – – (38) – – (38)
Issuance of shares 12 434 – – – – 434
Allocation of ESOP shares 9 12 – – – 21
Stock-based compensation expense 27 – – – – 27
Dividends ($2.480 per share) – – – (726) – (726)
Distributions to noncontrolling interests – – – – (2) (2)
Other – – – – (1) (1)
Balance, December 31, 2010 293 $7,343 $– $(125) $2,805 $4 $10,027
(a) For the year ended December 31, 2010, consolidated net income of $863 million includes $4 million attributable to preferred shareholders
of subsidiaries, which is not a component of total equity and is excluded from the table above. For the year ended December 31, 2009,
consolidated net income of $761 million includes $4 million attributable to preferred shareholders of subsidiaries, which is not a component
of total equity and is excluded from the table above.
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME
(in millions)
Years ended December 31 2010 2009 2008
Net income $863 $761 $836
Other comprehensive income (loss)
Reclassification adjustments included in net income
Change in cash flow hedges (net of tax expense of $4, $4 and $2) 6 6 3
Change฀in฀unrecognized฀items฀for฀pension฀and฀other฀postretirement฀benefits฀(net฀of฀tax฀expense฀of฀$2,฀$3฀and฀$1) 3 4 1
Net฀unrealized฀(losses)฀gains฀on฀cash฀flow฀hedges฀(net฀of฀tax฀benefit฀(expense)฀of฀$22,฀$(10)฀and฀$24) (34) 16 (37)
Net฀unrecognized฀items฀for฀pension฀and฀other฀postretirement฀benefits฀(net฀of฀tax฀benefit฀(expense)฀of฀$8,฀$(1)฀and฀$29) (13) 2 (49)
Other (net of tax benefit of $-, $- and $1) –1 –
Other comprehensive (loss) income (38) 29 (82)
Comprehensive income 825 790 754
Comprehensive income attributable to noncontrolling interests, net of tax (7) (4) (6)
Comprehensive income attributable to controlling interests $818 $786 $748
See Notes to Consolidated Financial Statements.