Raytheon 2007 Annual Report Download - page 88

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RAYTHEON COMPANY
CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY
Years Ended
December 31, 2007, 2006 and 2005
(In millions except per share amounts)
Common
Stock
Additional
Paid-in
Capital
Unearned
Compensation
Accumulated
Other
Comprehensive
(Loss) Income
Treasury
Stock
Retained
Earnings
Total
Stockholders’
Equity
Balance at December 31, 2004 $ 5 $ 9,540 $(60) $(1,919) $ (13) $2,998 $10,551
Net income 871 871
Other comprehensive income
Minimum pension liability 47 47
Foreign exchange translation (47) (47)
Cash flow hedges (35) (35)
Unrealized losses on residual
interest securities 4 4
Comprehensive income 840
Dividends declared—$0.88 per share (394) (394)
Common stock plan activity 182 (29) 153
Treasury stock activity (441) (441)
Balance at December 31, 2005 5 9,722 (89) (1,950) (454) 3,475 10,709
Net income 1,283 1,283
Other comprehensive income
Minimum pension liability 709 709
Foreign exchange translation 44 44
Cash flow hedges 20 20
Unrealized gains on investments 1 1
Comprehensive income 2,057
Impact to initially adopt SFAS
No. 158 (1,338) (1,338)
Dividends declared—$0.96 per share (429) (429)
Reclassification to initially adopt
SFAS No. 123R (89) 89 —
Common stock plan activity 464 464
Treasury stock activity (362) (362)
Balance at December 31, 2006 5 10,097 — (2,514) (816) 4,329 11,101
Net income 2,578 2,578
Other comprehensive income
Amortization of unfunded
projected benefit obligation 258 258
Impact to revalue unfunded
projected benefit obligation 157 157
Elimination of Raytheon
Aircraft unfunded projected
benefit obligation and cash
flow hedges in connection
with sale 77 77
Foreign exchange translation 51 51
Cash flow hedges 15 15
Comprehensive income 3,136
Dividends declared—$1.02 per share (442) (442)
Impact to initially adopt FIN 48 (13) (13)
Common stock plan activity 447 447
Treasury stock activity (1) (1,686) (1,687)
Balance at December 31, 2007 $ 4 $10,544 $ — $(1,956) $(2,502) $6,452 $12,542
The accompanying notes are an integral part of the consolidated financial statements.
59