Avon 2004 Annual Report Download - page 32

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Accumulated
Additional Other
Common Stock Paid-In Retained Comprehensive Treasury Stock
In millions, except per share data SharesAmount Capital EarningsLoss SharesAmount Total
Balances at December 31, 2001 356.31 $ 89.1 $ 938.0 $1,389.4 $(489.5) 119.63 $(2,002.1) $ (75.1)
Comprehensive income:
Net income 534.6 534.6
Foreign currency translation adjustments (58.1) (58.1)
Unrealized loss from available-for-sale
securities, net of taxes of $2.4 (4.4) (4.4)
Minimum pension liability adjustment,
net of taxes of $108.6 (239.0) (239.0)
Net derivative losses on cash flow hedges,
net of taxes of $.2 (.4) (.4)
Total comprehensive income 232.7
Dividends - $.80 per share (188.7) (188.7)
Exercise of stock options, including tax
benefits of $10.5 2.00 .5 74.7 75.2
Repurchase of common stock 3.49 (178.6) (178.6)
Grant, cancellation and amortization of
restricted stock .07 — 6.8 6.8
Balance at December 31, 2002 358.38 89.6 1,019.5 1,735.3 (791.4) 123.12 (2,180.7) (127.7)
Comprehensive income:
Net income 664.8 664.8
Foreign currency translation adjustments 53.7 53.7
Unrealized loss from available-for-sale
securities, net of taxes of $2.4 4.5 4.5
Minimum pension liability adjustment,
net of taxes of $1.0 2.8 2.8
Net derivative losses on cash flow hedges,
net of taxes of $.6 1.0 1.0
Total comprehensive income 726.8
Dividends - $.84 per share (197.7) (197.7)
Exercise of stock options, including
tax benefits of $29.5 2.63 .7 128.4 (.05) .9 130.0
Repurchase of common stock 3.50 (214.3) (214.3)
Grant, cancellation and amortization
of restricted stock .11 — 6.6 6.6
Partial conversion of convertible notes 33.9 (.75) 13.7 47.6
Balance at December 31, 2003 361.12 90.3 1,188.4 2,202.4 (729.4) 125.82 (2,380.4) 371.3
Comprehensive income:
Net income 846.1 846.1
Foreign currency translation adjustments 116.5 116.5
Changes in available-for-sale securities,
net of taxes of $5.7 10.5 10.5
Minimum pension liability adjustment,
net of taxes of $58.1 (74.0) (74.0)
Net derivative losses on cash flow hedges,
net of taxes of $2.0 (3.1) (3.1)
Total comprehensive income 896.0
Dividends – $.56 per share (264.3) (264.3)
Two-for-one stock split effected in the form
of a dividend (Note 9) 362.82 90.7 (90.7) 126.86
Exercise of stock options, including tax
benefits of $40.3 4.35 1.1 159.7 (.16) 1.8 162.6
Repurchase of common stock 4.56 (224.2) (224.2)
Grant, cancellation and amortization
of restricted stock .32 .1 8.7 8.8
Balance at December 31, 2004 728.61 $ 182.2 $1,356.8 $2,693.5 $(679.5) 257.08 $(2,602.8) $ 950.2
The accompanying notes are an integral part of these statements.
Consolidated Statements of Changes in Shareholders’Equity
Global Beauty 53