True Value 2007 Annual Report Download - page 37

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16 | TRUE VALUE COMPANY
CONSOLIDATED STATEMENT OF MEMBERS’ EQUITY
($ in thousands, except per share information)
Accumulated
Redeemable Common Stock Other Total Total
Class A Class B Loss Deferred Accumulated Comprehensive Members’ Comprehensive
# of Shares Amount # of Shares Amount Allocation Patronage Deficit Loss Equity Income/(Loss)
Balances at and for the year
ended December 31, 2004 319,740 $30,490 1,008,882 $102,187 $ (19,420) $(24,298) $(58,860) $(1,903) $ 28,196 $43,289
Net margin – – – – – – 47,555 – 47,555 $47,555
Reclass stock presented for
redemptions to liabilities (20,280) (2,122) (58,497) (5,850) 1,495 – 1,973 – (4,504) –
Amortization of
deferred patronage – – – – – 748 (748) – – –
Minimum pension
liability adjustment – – – – – – – 173 173 173
Patronage dividend – – 293,852 29,385 – – (43,870) – (14,485) –
Class B stock applied
against loss allocation – – (68,374) (6,837) 6,837 – – – – –
Class A stock purchases 16,020 2,096 – – – – – – 2,096 –
Balances at and for the year
ended December 31, 2005 315,480 30,464 1,175,863 118,885 (11,088) (23,550) (53,950) (1,730) 59,031 $47,728
Net margin – – – – – – 72,779 – 72,779 $72,779
Reclass stock presented for
redemptions to liabilities (18,540) (1,697) (48,770) (4,877) 669 – 1,418 – (4,487) –
Amortization of
deferred patronage – – – – – 748 (748) – – –
Patronage dividend – – 334,991 33,499 – – (52,074) – (18,575) –
Class B stock applied against
loss allocation – – (32,772) (3,277) 3,277 – – – – –
Class A stock purchases 9,360 1,553 – – – – – – 1,553 –
Pension liability adjustment:
Additional minimum liability
arising during the period – – – – – – – (9,148) (9,148) (9,148)
Adjustments to initially apply
FASB statement No. 158 – – – – – – – 1,568 1,568 1,568
Total pension liability adjust – – – – – – – (7,580) (7,580) (7,580)
Balances at and for the year
ended December 30, 2006 306,300 30,320 1,429,312 144,230 (7,142) (22,802) (32,575) (9,310) 102,721 $65,199
Net margin – – – – – – 63,767 – 63,767 $63,767
Reclass stock presented for
redemptions to liabilities (21,156) (2,109) (67,858) (6,786) 1,203 – 1,352 – (6,340) –
Amortization of
deferred patronage – – – – – 747 (747) – – –
Patronage dividend – – 298,819 29,882 – – (56,131) – (26,249) –
Class B stock applied against
loss allocation – – (11,612) (1,161) 1,161 – – – – –
Class A stock purchases 7,800 1,091 – – – – – – 1,091 –
Pension liability adjustment
for deferred actuarial loss – – – – – – – (2,329) (2,329) (2,329)
Balances at and for the year
ended December 29, 2007 292,944 $29,302 1,648,661 $166,165 $ (4,778) $(22,055) $(24,334) $(11,639) $ 132,661 $61,438
Redeemable Class A common stock amounts are net of unpaid subscription amounts of $8 relating to 840 issued shares at December 29, 2007; $310 relating to 20,580
issued shares at December 30, 2006; $1,084 relating to 25,200 issued shares at December 31, 2005; and $1,484 relating to 22,920 issued shares at December 31, 2004.
The accompanying notes are an integral part of the Consolidated Financial Statements.