 |
Notes to Consolidated Financial Statements
|
|
Changes in certain components of shareholders’ equity were as follows:
| |
ESOP
Preferred
Stock |
Common
Stock
Issued at |
Capital in
Excess of |
Retained |
Unearned
ESOP |
Deferred |
Treasury Stock |
|
|
| |
Issued |
Par Value |
Par Value |
Earnings |
Compensation |
Compensation |
Shares |
Amount |
|
| Balance at September 30, 2002 |
$ |
37,945 |
|
$ |
332,662 |
|
$ |
185,122 |
|
$ |
3,507,349 |
|
$ |
(7,847) |
|
$ |
8,496 |
|
|
(77,132,248 |
) |
$ |
(1,137,583 |
) |
| Net income |
|
|
547,056 |
| Cash dividends: |
| Common ($.40 per share) |
|
|
(101,612 |
) |
Preferred ($3.835 per share),
net of tax benefits |
|
|
(2,201 |
) |
Common stock issued for:
Employee stock plans, net |
|
|
71,206 |
|
|
|
|
|
|
|
|
|
|
|
5,048,394 |
|
|
45,357 |
|
| Business acquisitions |
|
|
|
|
|
|
|
97 |
|
|
|
|
|
|
|
|
|
|
|
2,487 |
|
|
24 |
|
| Common stock held in trusts, net |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
478 |
|
|
(18,440 |
) |
|
(478 |
) |
Reduction in unearned ESOP
compensation for the year |
|
|
|
|
|
|
|
|
|
|
|
|
|
4,154 |
|
|
|
|
|
|
|
| Repurchase of common stock |
|
|
(9,784,200 |
) |
|
(349,998 |
) |
| Adjustment for redemption provisions |
|
(3,497 |
) |
|
|
|
|
753 |
|
|
|
|
|
|
|
|
|
|
|
355,125 |
|
|
2,744 |
|
|
| Balance at September 30, 2003 |
$ |
34,448 |
|
$ |
332,662 |
|
$ |
257,178 |
|
$ |
3,950,592 |
|
$ |
(3,693 |
) |
$ |
8,974 |
|
|
(81,528,882 |
) |
$ |
(1,439,934 |
) |
| Net income |
|
|
|
|
|
|
|
|
|
|
467,402 |
|
|
|
|
|
|
|
|
|
|
Cash dividends:
Common ($.60 per share) |
|
|
|
|
|
|
|
|
|
|
(151,093 |
) |
|
|
|
|
|
|
|
|
|
Preferred ($3.835 per share),
net of tax benefits |
|
|
|
|
|
|
|
|
|
|
(2,123 |
) |
|
|
|
|
|
|
|
|
|
Common stock issued for:
Employee stock plans, net |
|
|
|
|
|
|
|
156,478 |
|
|
|
|
|
|
|
|
|
|
|
7,408,051 |
|
|
71,725 |
|
| Business acquisitions |
|
|
|
|
|
|
|
149 |
|
|
|
|
|
|
|
|
|
|
|
3,545 |
|
|
35 |
|
| Common stock held in trusts, net |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1,248 |
|
|
(17,376 |
) |
|
(1,248 |
) |
Reduction in unearned ESOP
compensation for the year |
|
|
|
|
|
|
|
|
|
|
|
|
|
3,693 |
|
|
|
|
|
|
|
| Repurchase of common stock |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9,551,286 |
) |
|
(449,930 |
) |
| Adjustment for redemption provisions |
|
(3,306 |
) |
|
|
|
|
710 |
|
|
|
|
|
|
|
|
|
|
|
358,653 |
|
|
2,596 |
|
|
| Balance at September 30, 2004 |
$ |
31,142 |
|
$ |
332,662 |
|
$ |
414,515 |
|
$ |
4,264,778 |
|
$ |
— |
|
$ |
10,222 |
|
|
(83,327,295 |
) |
$ |
(1,816,756 |
) |
| Net income |
|
|
|
|
|
|
|
|
|
|
722,263 |
|
|
|
|
|
|
|
|
|
|
Cash dividends:
Common ($.72 per share) |
|
|
|
|
|
|
|
|
|
|
(181,189 |
) |
|
|
|
|
|
|
|
|
|
Common stock issued for:
Employee stock plans, net |
|
|
|
|
|
|
|
124,220 |
|
|
|
|
|
|
|
|
|
|
|
4,638,097 |
|
|
44,839 |
|
| Business acquisitions |
|
|
|
|
|
|
|
206 |
|
|
|
|
|
|
|
|
|
|
|
4,565 |
|
|
45 |
|
| Share-based compensation |
|
|
|
|
|
|
|
70,199 |
|
| Common stock held in trusts, net |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
58 |
|
|
40,472 |
|
|
(58 |
) |
| Repurchase of common stock |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9,711,800 |
) |
|
(549,999 |
) |
| Conversion of ESOP preferred stock |
|
(31,142 |
) |
|
|
|
|
6,706 |
|
|
|
|
|
|
|
|
|
|
|
3,378,028 |
|
|
24,436 |
|
|
| Balance at September 30, 2005 |
$ |
— |
|
$ |
332,662 |
|
$ |
615,846 |
|
$ |
4,805,852 |
|
$ |
— |
|
$ |
10,280 |
|
|
(84,977,933 |
) |
$ |
(2,297,493 |
) |
|
Common stock held in trusts represents rabbi trusts in connection with deferred compensation under the Company’s employee salary and bonus deferral plan and Directors’ deferral plan.
Preferred Stock Purchase Rights
In accordance with the Company’s shareholder rights plan, each certificate representing a share of outstanding common stock of the Company also represents one Preferred Stock Purchase Right (a “Right”). Each whole Right entitles the registered holder to purchase from the Company one eight-hundredths of a share of Preferred Stock, Series A, par value $1.00 per share, at a price of $67.50. The Rights will not become exercisable unless and until, among other things, a third party acquires 15% or more of the Company’s outstanding common stock. The Rights are redeemable under certain circumstances at $.01 per Right and will expire, unless earlier redeemed, on April 25, 2006. There are 500,000 shares of preferred stock designated Series A, none of which has been issued.
|
