Prudential 2003 Annual Report Download - page 99
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PRUDENTIAL FINANCIAL, INC.
Consolidated Statements of Stockholders’ Equity
Years Ended December 31, 2003, 2002 and 2001 (in millions)
Common Stock
Class B
Stock
Additional
Paid-in
Capital
Retained
Earnings
(Deficit)
Common
Stock
Held in
Treasury
Deferred
Compensation
Accumulated
Other
Comprehensive
Income (Loss)
Total
Stockholders’
EquityShares Amount
Balance, December 31, 2000 ..... — $— $— $ — $20,374 $ — $ — $ 234 $20,608
Common Stock issued in
demutualization .............. 457.1 5 — 15,985 (15,990) — — — —
Policy credits issued and cash
payments to be made to eligible
policyholders ................ — — — — (4,189) — — — (4,189)
Initial public offering of Common
Stock ....................... 126.5 1 — 3,336 — — — — 3,337
Private placement of Class B
Stock ....................... — — — 167 — — — — 167
Equity security units ............. — — — (26) — — — — (26)
Comprehensive income:
Net loss before the date of
demutualization ............ — — — — (195) — — — (195)
Net income after the date of
demutualization ............ — — — — 41 — — — 41
Other comprehensive income, net
of tax ..................... — — — — — — — 710 710
Total comprehensive income ...... 556
Balance, December 31, 2001 ..... 583.6 6 — 19,462 41 — — 944 20,453
Treasury stock acquired .......... (26.0) — — — — (800) — — (800)
Stock-based compensation
programs .................... 1.7 — — 4 — 57 (21) — 40
Adjustments to policy credits issued
and cash payments to eligible
policyholders ................ 0.9 — — 47 — — — — 47
Dividends declared on Common
Stock ....................... — — — — (226) — — — (226)
Dividends declared on Class B
Stock ....................... — — — — (19) — — — (19)
Comprehensive income:
Net income .................. — — — — 194 — — — 194
Other comprehensive income, net
of tax ..................... — — — — — — — 1,641 1,641
Total comprehensive income ...... 1,835
Balance, December 31, 2002 ..... 560.2 6 — 19,513 (10) (743) (21) 2,585 21,330
Treasury stock acquired .......... (29.1) — — — — (1,001) — — (1,001)
Stock-based compensation
programs .................... 3.7 — — 40 (6) 112 (27) — 119
Adjustments to policy credits issued
and cash payments to eligible
policyholders ................ 0.1 — — 7 — — — — 7
Dividends declared on Common
Stock ....................... — — — — (269) — — — (269)
Dividends declared on Class B
Stock ....................... — — — — (19) — — — (19)
Comprehensive income:
Net income .................. — — — — 1,264 — — — 1,264
Other comprehensive income, net
of tax ..................... — — — — — — — (139) (139)
Total comprehensive income ...... 1,125
Balance, December 31, 2003 ..... 534.9 $ 6 $ — $19,560 $ 960 $(1,632) $ (48) $2,446 $21,292
See Notes to Consolidated Financial Statements
Prudential Financial 2003 Annual Report 97