World Fuel Services 2011 Annual Report Download - page 69

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WORLD FUEL SERVICES CORPORATION AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF SHAREHOLDERS’ EQUITY AND
COMPREHENSIVE INCOME
(In thousands)
Accumulated Noncontrolling
Capital in Other World Fuel Interest
Common Stock Excess of Retained Comprehensive Shareholders’ Equity
Shares Amount Par Value Earnings (Loss) Income Equity (Deficit) Total
Balance as of December 31, 2008 58,590 $586 $204,749 $406,953 $(4,401) $ 607,887 $ 259 $ 608,146
Comprehensive income:
Net income — — — 117,139 — 117,139 424 117,563
Foreign currency translation adjustment — — — — 7,135 7,135 — 7,135
Change in effective portion of cash flow
hedges, net of income tax provision of $413 — — — — 1,061 1,061 — 1,061
Comprehensive income 125,335 424 125,759
Cash dividends declared — — — (8,872) — (8,872) — (8,872)
Distribution of noncontrolling interest — — — — — — (455) (455)
Amortization of share-based payment awards — — 6,763 — — 6,763 — 6,763
Issuance of common stock related to share-
based payment awards 1,095 11 6,848 — — 6,859 — 6,859
Purchases of common stock tendered by
employees to satisfy the required
withholding taxes related to share-based
payment awards (278) (3) (4,951) — — (4,954) — (4,954)
Other (22) — 5 (2) — 3 — 3
Balance as of December 31, 2009 59,385 594 213,414 515,218 3,795 733,021 228 733,249
Comprehensive income:
Net income — — — 146,865 — 146,865 (362) 146,503
Foreign currency translation adjustment — — — — 958 958 — 958
Comprehensive income (loss) 147,823 (362) 147,461
Cash dividends declared — — — (9,287) — (9,287) — (9,287)
Distribution of noncontrolling interest — — — — — — (510) (510)
Amortization of share-based payment awards — — 8,789 — — 8,789 — 8,789
Issuance of common stock related to share-
based payment awards including income tax
benefit of $10,380 383 4 10,796 — — 10,800 — 10,800
Public offering of common stock 9,200 92 218,724 — — 218,816 — 218,816
Issuance of common stock related to
acquisitions 690 7 21,063 — — 21,070 — 21,070
Purchases of common stock tendered by
employees to satisfy the required
withholding taxes related to share-based
payment awards (56) (1) (3,823) — — (3,824) — (3,824)
Balance as of December 31, 2010 69,602 $696 $468,963 $652,796 $ 4,753 $1,127,208 $(644) $1,126,564
The accompanying notes are an integral part of these consolidated financial statements.
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