Consolidated Financial Statements
Consolidated Statements of Shareholders’ Equity
| Years Ended December 31, 2004, 2003 and 2002 | ||||||||||||||
| (In millions) | Preferred Stock |
Common Stock |
Capital in Excess of Par Value |
Retained Earnings |
Employee Benefits Trust |
Accumulated Other Comprehensive Loss |
Total | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Balance as of December 31, 2001 | $ | 0.2 | 54.3 | 400.1 | 193.3 | (58.9) | (112.9) | 476.1 | ||||||
| Net income | - | - | - | 26.1 | - | - | 26.1 | |||||||
| Other comprehensive loss | - | - | - | - | - | (123.3) | (123.3) | |||||||
| Dividends: | ||||||||||||||
| Common stock ($0.10 per share) | - | - | - | (5.2) | - | - | (5.2) | |||||||
| Preferred stock ($31.25 per share) | - | - | - | (0.5) | - | - | (0.5) | |||||||
| Repurchase shares of: | ||||||||||||||
| Common stock | - | - | (0.3) | - | - | - | (0.3) | |||||||
| Preferred stock | (0.2) | - | (10.0) | (0.6) | - | - | (10.8) | |||||||
| Employee benefits trust: | ||||||||||||||
| Remeasurement | - | - | (5.3) | - | 5.3 | - | - | |||||||
| Shares for employee benefit programs | - | - | (1.7) | - | 20.6 | - | 18.9 | |||||||
| Tax benefit of stock options exercised | - | - | 0.2 | - | - | - | 0.2 | |||||||
| Balance as of December 31, 2002 | - | 54.3 | 383.0 | 213.1 | (33.0) | (236.2) | 381.2 | |||||||
| Net income | - | - | - | 29.4 | - | - | 29.4 | |||||||
| Other comprehensive income | - | - | - | - | - | 71.3 | 71.3 | |||||||
| Common stock dividends ($0.10 per share) | - | - | - | (5.3) | - | - | (5.3) | |||||||
| Employee benefits trust: | ||||||||||||||
| Remeasurement | - | - | (0.1) | - | 0.1 | - | - | |||||||
| Shares for employee benefit programs | - | - | (0.1) | - | 18.9 | - | 18.8 | |||||||
| Tax benefit of stock options exercised | - | - | 0.2 | - | - | - | 0.2 | |||||||
| Balance as of December 31, 2003 | - | 54.3 | 383.0 | 237.2 | (14.0) | (164.9) | 495.6 | |||||||
| Net income | - | - | - | 121.5 | - | - | 121.5 | |||||||
| Other comprehensive income | - | - | - | - | - | 16.8 | 16.8 | |||||||
| Common stock dividends ($0.10 per share) | - | - | - | (5.4) | - | - | (5.4) | |||||||
| Retire shares of common stock | - | (0.1) | (0.2) | (0.4) | - | - | (0.7) | |||||||
| Employee benefits trust: | ||||||||||||||
| 2.5 million shares issued to trust | - | 2.5 | 58.9 | - | (61.4) | - | - | |||||||
| Remeasurement | - | - | 28.7 | - | (28.7) | - | - | |||||||
| Shares for employee benefit programs | - | - | (17.7) | - | 59.2 | - | 41.5 | |||||||
| Tax benefit of stock options exercised | - | - | 4.7 | - | - | - | 4.7 | |||||||
| Balance as of December 31, 2004 | $ | - | 56.7 | 457.4 | 352.9 | (44.9) | (148.1) | 674.0 | ||||||
See accompanying notes to consolidated financial statements.