US Bank 2009 Annual Report Download - page 74

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(Dollars and Shares in Millions)
Common
Shares
Outstanding
Preferred
Stock
Common
Stock
Capital
Surplus
Retained
Earnings
Treasury
Stock
Other
Comprehensive
Income (Loss)
Total
U.S. Bancorp
Shareholders’
Equity
Noncontrolling
Interests
Total
Equity
U.S. Bancorp Shareholders
Balance December 31, 2006 ..........
1,765 $ 1,000 $20 $5,762 $21,242 $(6,091) $ (736) $21,197 $ 722 $21,919
Net income ........................ 4,324 4,324 79 4,403
Changes in unrealized gains and losses on
securities available-for-sale ............. (482) (482) (482)
Unrealized loss on derivative hedges . ........ (299) (299) (299)
Foreign currency translation .............. 88 8
Reclassification for realized losses. . . ........ 96 96 96
Change in retirement obligation ............ 352 352 352
Income taxes . . . .................... 125 125 125
Total comprehensive income (loss) ....... 4,124 79 4,203
Preferred stock dividends . . .............. (60) (60) (60)
Common stock dividends . . .............. (2,813) (2,813) (2,813)
Issuance of common and treasury stock ....... 21 (45) 627 582 582
Purchase of treasury stock . .............. (58) (2,011) (2,011) (2,011)
Net other changes in noncontrolling interests . . . . – (21) (21)
Stock option and restricted stock grants ....... 32 32 32
Shares reserved to meet deferred compensation
obligations . . . .................... (5) (5) (5)
Balance December 31, 2007 ..........
1,728 $ 1,000 $20 $5,749 $22,693 $(7,480) $ (936) $21,046 $ 780 $21,826
Change in accounting principle ............. (4) 3 (1) (1)
Net income ........................ 2,946 2,946 66 3,012
Changes in unrealized gains and losses on
securities available-for-sale ............. (2,729) (2,729) (2,729)
Unrealized loss on derivative hedges . ........ (722) (722) (722)
Realized loss on derivative hedges . . ........ (15) (15) (15)
Foreign currency translation .............. (117) (117) (117)
Reclassification for realized losses. . . ........ 1,020 1,020 1,020
Change in retirement obligation ............ (1,362) (1,362) (1,362)
Income taxes . . . .................... 1,495 1,495 1,495
Total comprehensive income (loss) ....... 516 66 582
Preferred stock dividends and discount accretion . . 4 (123) (119) (119)
Common stock dividends . . .............. (2,971) (2,971) (2,971)
Issuance of preferred stock and related warrant . . . 6,927 163 7,090 7,090
Issuance of common and treasury stock ....... 29 (83) 917 834 834
Purchase of treasury stock . .............. (2) (91) (91) (91)
Net other changes in noncontrolling interests . . . . – (113) (113)
Stock option and restricted stock grants ....... 1 1 1
Shares reserved to meet deferred compensation
obligations . . . .................... (5) (5) (5)
Balance December 31, 2008 ..........
1,755 $ 7,931 $20 $5,830 $22,541 $(6,659) $(3,363) $26,300 $ 733 $27,033
Change in accounting principle ............. 141 (141) – –
Net income ........................ 2,205 2,205 32 2,237
Changes in unrealized gains and losses on
securities available-for-sale ............. 2,359 2,359 2,359
Other-than-temporary impairment not recognized in
earnings on securities available-for-sale ...... (402) (402) (402)
Unrealized gain on derivative hedges . ........ 516 516 516
Foreign currency translation .............. 40 40 40
Reclassification for realized losses. . . ........ 456 456 456
Change in retirement obligation ............ 290 290 290
Income taxes . . . .................... (1,239) (1,239) (1,239)
Total comprehensive income (loss) ....... 4,225 32 4,257
Redemption of preferred stock ............. (6,599) (6,599) (6,599)
Repurchase of common stock warrant ........ (139) (139) (139)
Preferred stock dividends and discount accretion . . 168 (396) (228) (228)
Common stock dividends . . .............. (375) (375) (375)
Issuance of common and treasury stock ....... 158 1 2,553 154 2,708 2,708
Purchase of treasury stock . .............. (4) (4) (4)
Net other changes in noncontrolling interests . . . . – (5) (5)
Distributions to noncontrolling interests ........ – (62) (62)
Stock option and restricted stock grants ....... 75 75 75
Balance December 31, 2009 ..........
1,913 $ 1,500 $21 $8,319 $24,116 $(6,509) $(1,484) $25,963 $ 698 $26,661
See Notes to Consolidated Financial Statements.
72 U.S. BANCORP
U.S. Bancorp
Consolidated Statement of Shareholders’ Equity