FLAGSTONE ANNUAL REPORT 2009
CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS’ EQUITY
For the year ended December 31, 2008 (Expressed in thousands of U.S. dollars)
For the year ended December 31, 2008
Flagstone Shareholders’ Equity
Total equity
Beginning balance
Repurchase of preferred shares Acquisition of subsidiaries
Comprehensive income: Net loss
Other comprehensive income: Change in currency translation adjustment Defined benefit pension plan obligation
Comprehensive income
Stock based compensation
Subsidiary stock based compensation Subsidiary stock issuance Fair value of issued warrant Issue of shares, net
Shares repurchased and cancelled Dividends declared Other
Ending balance
$ 1,395,263 (6,639 )
7,567
(173,703 ) (16,251 ) (17,138 )
(887 )
(173,703 ) (16,251 ) (17,138 )
(190,841 ) $ (190,841 )
(4,020 ) (449 ) —
3,565 (748 )
(6,648 ) (13,496 ) (91 )
$ 1,183,463 $
(13,496 ) (91 )
96,092 $ (8,271 ) $ 848 $ 897,344 $ 197,450
2 (7 ) (187,302 ) (887 )
(14,810 ) (887 )
(4,020 ) (126 )
3,565 (750 )
(6,641 )
Comprehensive income
$ — $
Retained comprehensive earnings
296,890 $ 7,426
Accumulated other
loss
$
Common Additional Noncontrolling voting shares
paid-in capital
853 $ 905,316 $
subsidiaries
184,778
interest in
(6,639 ) 7,567
13,599 (1,441 )
(449 ) 126
For complete financial statements including auditors’ opinion and notes please refer to our 2009 10-K which can be found on our website
at www.flagstonere.com
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