COMPREHENSIVE INCOME. The changes in Accumulated other comprehensive loss, net of tax, are as follows: Foreign currency (In thousands) Balance at December 31, 2015 $ 25,573 Other comprehensive income 1,182 Balance at September 30, 2016 $ 24,391
COMPREHENSIVE INCOME. Net income................... $264,464 28,415 $28,415 42,479 $425 $126,339 $142,078 28,415 $(4,378) Other comprehensive loss: Foreign currency translation adjustment... Tax on other comprehensive loss..................... (1,761) (1,761) 616 (1,761) Other comprehensive loss... (1,145) Total comprehensive income... $27,270 ======= Stock compensation........... 1,755 1,755 Repurchase and retirement of common stock............... (3,265) (576) (6) (3,259) Stock options exercised...... 1,279 260 3 1,276 Balance, December 31, 2001..... 290,887 42,163 422 126,111 170,493 (6,139) Comprehensive income: Net income................... 28,365 $28,365 28,365 Other comprehensive income: Foreign currency translation adjustment... 7,543 7,543 7,543 Tax on other comprehensive income................... (2,640) Other comprehensive income... 4,903 Total comprehensive income..... $33,268 ======= Stock compensation........... 2,072 2,072 Repurchase and retirement of common stock............... (7,018) (586) (6) (7,012) Stock options exercised...... 3,608 749 7 3,601 Balance, December 31, 2002..... 325,457 42,326 423 124,772 198,858 1,404 Comprehensive income: Net income................... 28,181 $28,181 28,181 Other comprehensive income: Foreign currency translation adjustment... 3,623 3,623 3,623 Tax on other comprehensive income................... (1,268) Other comprehensive income................... 2,355 Total comprehensive income... $30,536 ======= Stock compensation........... 3,583 3,583 Repurchase and retirement of common stock............... (5,316) (464) (5) (5,311) Stock options exercised...... 2,037 266 3 2,034 Balance, December 31, 2003..... $357,565 42,128 $421 $125,078 $227,039 $ 5,027 ======== ====== ==== ======== ======== ======= See accompanying notes to consolidated financial statements. 40 CONSOLIDATED STATEMENTS OF CASH FLOWS FOR THE YEARS ENDED DECEMBER 31, --------------------------------- 2003 2002 2001 --------- --------- --------- (DOLLARS IN THOUSANDS) CASH FLOWS FROM OPERATING ACTIVITIES: Net Income................................................ $ 28,181 $ 28,365 $ 28,415 Adjustments to reconcile cash provided by operating activities: Provision for credit losses............................. 10,459 23,935 14,034 Depreciation............................................ 4,469 4,718 4,652 Depreciation of leased assets........................... 4,210 9,669 12,485 Gain on securitization clean-up......................... -- -- (1,082) Loss on retirement o...
COMPREHENSIVE INCOME. The related tax effects allocated to each component of other comprehensive income are as follows: (dollars in thousands) Tax Before-Tax (Expense) Net-of-Tax Balance at December 31, 1998 Amount Or Benefit Amount Unrealized Gains on Securities: Unrealized Holding Gains Rising during Period 2,447 (839) 1,608 Less: Reclassification Adjustment for Gains Realized in Income 5,880 (2,193) 3,687 Net Unrealized Loss on Securities (3,433) 1,354 (2,079) Other Comprehensive Income (3,433) 1,354 (2,079) Balance at December 31, 1999 Unrealized Gains on Securities: Unrealized Holding Gains Rising during Period 91 (40) 51 Less: Reclassification Adjustment for Losses Realized in Income (1,517) 566 (951) Net Unrealized Loss on Securities (1,426) 526 (900) Other Comprehensive Income (1,426) 526 (900) Balance at December 31, 2000 Unrealized Gains on Securities: Unrealized Holding Losses Rising during Period (863) 288 (575) Less: Reclassification Adjustment for Gains Realized in Income 438 (167) 271 Net Unrealized Loss on Securities (425) 121 (304) Other Comprehensive Income (425) 121 (304) 13. Stock-Based Compensation The 1998 Stock Incentive Plan (the Plan), as amended, allows the Company to grant to employees and directors various stock awards, including stock options, which are granted at prices not less than the fair market value at the date of grant and restricted stock. A maximum of 2.6 million shares was approved to be issued under the Plan. On December 31, 2000, options for 1,619,442 shares have been granted. The stock options may be granted over a period not to exceed 10 years and generally vest from one to five years from the date of grant. The changes in outstanding options are as follows: Shares under Option Weighted-Average Exercise Price Per Share Balance at December 31, - - 1997 Granted 651,872 29.807 Balance at December 31, 1998 651,872 29.807 Granted 531,100 32.277 Exercised (32,000) 29.807 Balance at December 31, 1999 1,150,972 30.959 Granted 436,470 40.190 Exercised (52,484) 29.505 Forfeited (139,730) 31.822 Balance at December 31, 2000 1,395,228 33.214 Stock options outstanding and exercisable on December 31, 2000, are as follows: Range of Exercise Prices Per Share Shares under Option Weighted-Average Exercise Price Per Share Weighted-Average Remaining Contractual Life in Years Outstanding: 27.438-38.750 1,138,928 30.903 9.74 38.751-48.438 256,300 43.482 9.74 Exercisable: 1,395,228 33.214 9.74 27.438-38.750 423,081 28.470 9.74 38.751-48.438 27,760 46.680 9....
COMPREHENSIVE INCOME. Cash dividends ($.56 per share)............ -------- 7,586 -------- $109,588 ======== -- (25,408) -- -- (25,408) Exercise of employee stock options and related income tax benefits.............. -- 6,618 -- 21,698 28,316 Purchase of common stock for treasury...... BALANCE, JANUARY 3, 1999................... -- ------- 60,102 -- -------- 623,591 -- -------- 3,729 (41,217) --------- (287,755) (41,217) -------- 399,667 Comprehensive income: Net income............................... $154,316 -- 154,316 -- -- 154,316 Other comprehensive income (loss), net of tax: Foreign currency translation adjustments.......................... (17,804) -- -- (17,804) -- (17,804)
COMPREHENSIVE INCOME. 5 ------- (1,119) ------- $ 1,357 ======= 19 ------ 56 ------ $2,142 ====== 8 ------ (290) ------ $ 987 ====== 8 ------ (128) ------ $ 948 ====== See Accompanying Notes to Financial Statements. 8 AMERICAN INTERNATIONAL GROUP, INC. NOTES TO FINANCIAL STATEMENTS JUNE 30, 1999 (UNAUDITED)
COMPREHENSIVE INCOME. (9.6) ------ $(45.7) ------ 3.3 ----- $ 2.3 ----- (6.3) ------ (43.4) ------ $233.3 ====== Year ended December 31, 2000 --------------------------------- (in millions) Pretax Income (Expense) Tax (Expense) Benefit After-Tax Amount --------- --------- --------- Net income.................................................. Other income (loss): Foreign currency translation: Adjustments arising during period...................... $(69.1) $ 8.2 $264.5 (60.9) Reclassifications included in net income............... (5.6) -- (5.6) Unrealized (loss) gain on investment securities........... (1.6) -- (1.6)
COMPREHENSIVE INCOME. (20.4) ------ $(96.7) ------ 7.5 ----- $15.7 ----- (12.9) ------ (81.0) ------ $183.5 ====== The accompanying Notes to Consolidated Financial Statements are an integral part of the above statements. ITT INDUSTRIES, INC. AND SUBSIDIARIES CONSOLIDATED BALANCE SHEETS December 31, 2002 2001 (in millions, except share and per share amounts) ASSETS Current Assets: Cash and cash equivalents................................. $ 202.2 $ 121.3 Receivables, net.......................................... 868.3 774.3 Inventories, net.......................................... 552.9 496.3 Other current assets...................................... 77.1 66.9 Total current assets................................. 1,700.5 1,458.8 Plant, property and equipment, net.......................... 841.2 791.0 Deferred income taxes....................................... 546.3 310.9 Goodwill, net............................................... 1,550.5 1,415.0 Other intangible assets, net................................ 74.4 42.9 Other assets................................................ 676.7 489.8 Total non-current assets.................................. 3,689.1 3,049.6 TOTAL ASSETS.............................................. $5,389.6 $4,508.4 ======== ======== LIABILITIES AND SHAREHOLDERS' EQUITY Current Liabilities: Accounts payable.......................................... $ 484.0 $ 400.5 Accrued expenses.......................................... 725.3 727.9 Accrued taxes............................................. 221.3 251.2 Notes payable and current maturities of long-term debt.... 299.6 517.0 Total current liabilities.............................. 1,730.2 1,896.6 Pension benefits............................................ 1,430.3 199.0 Postretirement benefits other than pensions................. 198.7 195.9 Long-term debt.............................................. 492.2 456.4 Other liabilities........................................... 400.9 384.7 Total non-current liabilities.......................... 2,522.1 1,236.0 TOTAL LIABILITIES...................................... 4,252.3 3,132.6 Shareholders' Equity: Common stock: Authorized -- 200,000,000 shares, $1 par value per share outstanding -- 91,824,515 shares and 88,786,701 shares...................................... 91.8 88.8 Retained earnings......................................... 1,939.1 1,514.0 Accumulated other comprehensive loss: Unrealized loss on minimum pension liability........... (784.7) (19.2) Other comp...
COMPREHENSIVE INCOME. Comprehensive income for the three months ended March 31, 2010 and 2009 was as follows: Three Months Ended March 31, 2010 2009 Net income $ 2,296 $ (2,496 ) Cumulative foreign currency translation gains (losses), net of tax 501 (1,285 ) Minimum pension and post-retirement liabilties, net of tax 71 72 Comprehensive income (loss) $ 2,868 $ (3,709 )
COMPREHENSIVE INCOME. The following table summarizes the components of accumulated other comprehensive income, (in thousands): December 31, 1999 1998 1997 -------------------------------- Foreign currency translation adjustment $105 $107 $ -- Unrealized gain on available-for-sale securities 101 2 44 -------------------------------- Accumulated other comprehensive income $206 $109 $ 44 Principles of Consolidation The consolidated financial statements include the accounts of the Company and its wholly-owned subsidiary. Intercompany transactions and balances have been eliminated in consolidation. Segment Information The Company operates in one business segment, which is the development, production and marketing of medical products for the treatment of common vision problems. The Chief Executive Officer has been identified as the Chief Operating Decision Maker (CODM) because he has final authority over resource allocation decisions and performance assessment. Concentration of Credit Risk and Other Risks Financial instruments that potentially subject the Company to concentrations of credit risk consist primarily of cash equivalents, short-term investments and accounts receivables. The Company generally does not require collateral. The Company maintains allowances for credit losses, and such losses have been within management's expectations. Use of Estimates The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Actual results could differ from these estimates. In accordance with Statement of Financial Accounting Standards No. 121, "Accounting for the Impairment of Long-Lived Assets and for Long- Lived Assets to be Disposed Of," the Company continually reviews long- lived assets for indications of impariment. If indicators of impairment are identified, reconverability is assessed based upon an undiscounted cash flow analysis. Impairments, if any, are recognized in operating results in the period in which a permanent diminuation in value is determined, as measured by a discounted cash flow analysis. Depreciation and Amortization Depreciation is provided on a straight-line basis over assets' estimated useful lives of three to five years. Assets acquired under capital leases are amortized on a straight-line basis over the lesser of the assets' useful life or the term of the lease. Cash and Investments The ...
COMPREHENSIVE INCOME. The components of comprehensive income, net of tax effect, are as follows: Year Ended December 31, 2007 2006 2005 (In thousands) Net income $ 164,061 $ 189,605 $ 138,745 Unrealized gain on securities available-for-sale 846 1,880 414 Foreign currency translation adjustments(1) 13,946 (721 ) 3,205 Total accumulated other comprehensive income $ 178,853 $ 190,764 $ 142,364
