BB&T 2007 Annual Report Download - page 76

BB&T CORPORATION AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS’ EQUITY
For the Years Ended December 31, 2007, 2006 and 2005
(Dollars in millions, except per share data, shares in thousands)
Shares of
Common
Stock Common
Stock
Additional
Paid-In
Capital Retained Earnings
Accumulated
Other
Comprehensive
Income (Loss)
Total
Shareholders'
Equity
Balance, January 1, 2005 550,406 $2,752 $3,122 $5,112 $(111) $10,875
Add (Deduct):
Comprehensive income:
Net income — — — 1,654 — 1,654
Unrealized holding gains (losses) arising during the period on
securities available for sale, net of tax of $(144) — — — — (250) (250)
Change in unrealized gains (losses) on securities, net of tax — — — — (250) (250)
Change in unrecognized gain (loss) on cash flow hedge, net of tax of
$5 — — — — 7 7
Change in minimum pension liability, net of tax of $(2) (2) (2)
Total comprehensive income — — — 1,654 (245) 1,409
Common stock issued:
In purchase acquisitions (1) 1,230 6 44 — — 50
In connection with stock option exercises and other employee
benefits, net of cancellations 3,466 17 63 — — 80
Redemption of common stock (12,000) (60) (426) — — (486)
Cash dividends declared on common stock, $1.49 per share — — — (815) — (815)
Excess tax benefit from equity-based awards — — 16 — — 16
Balance, December 31, 2005 543,102 2,715 2,819 5,951 (356) 11,129
Add (Deduct):
Comprehensive income:
Net income — — — 1,528 — 1,528
Unrealized holding gains (losses) arising during the period on
securities available for sale, net of tax of $26 — — — — 43 43
Reclassification adjustment for losses (gains) on securities available
for sale included in net income, net of tax of $27 — — — — 46 46
Change in unrealized gains (losses) on securities, net of tax — — — — 89 89
Change in unrecognized gain (loss) on cash flow hedge, net of tax of
$9 — — — — 13 13
Change in minimum pension liability, net of tax of $1 3 3
Total comprehensive income — — — 1,528 105 1,633
Cumulative effect of adoption of SFAS 158, net of tax of $(68) — — — — (108) (108)
Common stock issued:
In purchase acquisitions (1) 17,488 87 670 — — 757
In connection with stock option exercises and other employee
benefits, net of cancellations 3,192 16 75 — — 91
Redemption of common stock (22,307) (111) (825) — — (936)
Cash dividends declared on common stock, $1.64 per share — — — (883) — (883)
Excess tax benefit from equity-based awards — — 4 — — 4
Equity-based compensation expense — — 58 — — 58
Balance, December 31, 2006 541,475 2,707 2,801 6,596 (359) 11,745
Add (Deduct):
Comprehensive income:
Net income — — — 1,734 — 1,734
Unrealized holding gains (losses) arising during the period on
securities available for sale, net of tax of $124 — — — — 219 219
Reclassification adjustment for losses (gains) on securities available
for sale included in net income, net of tax of $1 — — — — 2 2
Change in unrealized gains (losses) on securities, net of tax — — — — 221 221
Change in pension and postretirement liability, net of tax of $22 — — — — 31 31
Foreign currency translation adjustment — — — — 3 3
Total comprehensive income — — — 1,734 255 1,989
Common stock issued:
In purchase acquisitions (1) 9,083 46 365 — — 411
In connection with stock option exercises and other employee
benefits, net of cancellations 2,397 12 52 — — 64
Redemption of common stock (7,000) (35) (219) — — (254)
Cash dividends declared on common stock, $1.80 per share — — — (986) — (986)
Cumulative effect of adoption of FIN 48 — — — (119) — (119)
Cumulative effect of adoption of FSP FAS 13-2 — — — (306) — (306)
Excess tax benefit from equity-based awards — — 18 — 18
Equity-based compensation expense — — 70 — — 70
Balance, December 31, 2007 545,955 $2,730 $3,087 $6,919 $(104) $12,632
(1) Additional paid-in capital includes the value of replacement stock options issued.
The accompanying notes are an integral part of these consolidated financial statements.
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