Statement of Stockholders' Equity
Kelly Services, Inc. and Subsidiaries
| 1998(1) |
1997 |
1996 |
||
| (In thousands of dollars) | ||||
| Capital Stock | ||||
| Class A common stock | ||||
| Balance at beginning of year | $36,538< | $36,527 | $36,512 | |
| Conversions from Class B | 3 | 11 | 15 | |
| Balance at end of year | 36,541 | 36,538 | 36,527 | |
| Class B common stock | ||||
| Balance at beginning of year | 3,578 | 3,589 | 3,604 | |
| Conversions to Class A | (3) | (11) | (15) | |
| Balance at end of year | 3,575 | 3,578 | 3,589 | |
| Treasury Stock | ||||
| Class A common stock | ||||
| Balance at beginning of year | (6,029) | (6,012) | (6,142) | |
| Treasury stock issued for acquisition | 102 | - | - | |
| Purchase of treasury stock | (75,886) | - | - | |
| Exercise of stock options and restricted stock awards | 144 | (17) | 130 | |
| Balance at end of year | (81,669) | (6,029) | (6,012) | |
| Class B common stock | ||||
| Balance at beginning of year | (185) | (185) | (185) | |
| Purchase of treasury stock | (63) | - | - | |
| Balance at end of year | (248) | (185) | (185) | |
| Paid-in Capital | ||||
| Balance at beginning of year | 10,980 | 8,265 | 7,215 | |
| Treasury stock issued for acquisition | 828 | - | - | |
| Exercise of stock options and restricted stock awards | 3,036 | 2,715 | 1,050 | |
| Balance at end of year | 14,844 | 10,980 | 8,265 | |
| Earnings Invested in the Business | ||||
| Balance at beginning of year | 522,039 | 474,409 | 432,979 | |
| Net earnings | 84,715 | 80,780 | 73,009 | |
| Cash dividends | (34,237) | (33,150) | (31,579) | |
| Balance at end of year | 572,517 | 522,039 | 474,409 | |
| Accumulated Foreign Currency Adjustments | ||||
| Balance at beginning of year | (7,092) | 306 | 2,121 | |
| Equity adjustment for foreign currency | (704) | (7,398) | (1,815) | |
| Balance at end of year | (7,796) | (7,092) | 306 | |
| Stockholders Equity at end of year | $537,764 | $559,829 | $516,899 | |
| Comprehensive Income | ||||
| Net earnings | $84,715 | $80,780 | $73,009 | |
| Other comprehensive income -- Foreign currency adjustments | (704) | (7,398) | (1,815) | |
| Comprehensive income | $84,011 | $73,382 | $71,194 | |
See accompanying Notes to Financial Statements.
(1) Fiscal year included 53 weeks.