XML 54 R9.htm IDEA: XBRL DOCUMENT v2.4.0.8
CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY (USD $)
In Millions
Total
Common Stock [Member]
Additional Paid-In Capital [Member]
Retained Earnings [Member]
Accumulated Other Comprehensive Loss [Member]
Treasury Stock [Member]
Noncontrolling Interest [Member]
Shareholders' Equity at Period Start at Dec. 31, 2010 $ 1,672.6 $ 186.6 $ 2,024.2 $ 4,610.8 $ (605.8) $ (4,559.3) $ 16.1
Balance, shares at Dec. 31, 2010   743.3       313.8  
Net (loss) income attributable to Avon 513.6     513.6      
Net income attributable to noncontrolling interests 4.2           4.2
Net (loss) income 517.8            
Other comprehensive income (loss) attributable to parent         (248.6)    
Other comprehensive income (loss) attributable to noncontrolling interests             (0.4)
Other comprehensive income (loss) (249.0)            
Dividends (398.3)     (398.3)      
Exercise/ vesting and expense of share-based compensation, value 55.1 0.7 53.7     0.7  
Exercise/ vesting and expense of share-based compensation, shares   1.6       0  
Repurchase of common stock, value (7.7)         (7.7)  
Repurchase of common stock, shares           0.3  
Purchases and sales of noncontrolling interests, net of dividends paid (5.1)           (5.1)
Income tax benefits - stock transactions (0.2)   (0.2)        
Shareholders' Equity at Period End at Dec. 31, 2011 1,585.2 187.3 2,077.7 4,726.1 (854.4) (4,566.3) 14.8
Balance, shares at Dec. 31, 2011   744.9       314.1  
Net (loss) income attributable to Avon (42.5)     (42.5)      
Net income attributable to noncontrolling interests 4.3           4.3
Net (loss) income (38.2)            
Other comprehensive income (loss) attributable to parent         (22.3)    
Other comprehensive income (loss) attributable to noncontrolling interests             0.6
Other comprehensive income (loss) (21.7)            
Dividends (325.8)     (325.8)      
Exercise/ vesting and expense of share-based compensation, value 48.5 1.0 44.3     3.2  
Exercise/ vesting and expense of share-based compensation, shares   1.8       (0.1)  
Repurchase of common stock, value (8.8)         (8.8)  
Repurchase of common stock, shares           0.5  
Purchases and sales of noncontrolling interests, net of dividends paid (3.5)           (3.5)
Income tax benefits - stock transactions (2.4)   (2.4)        
Shareholders' Equity at Period End at Dec. 31, 2012 1,233.3 188.3 2,119.6 4,357.8 (876.7) (4,571.9) 16.2
Balance, shares at Dec. 31, 2012   746.7       314.5  
Net (loss) income attributable to Avon (56.4) [1],[2]     (56.4)      
Net income attributable to noncontrolling interests 4.5 [1],[2]           4.5
Net (loss) income (51.9)            
Other comprehensive income (loss) attributable to parent         6.3    
Other comprehensive income (loss) attributable to noncontrolling interests             (1.1)
Other comprehensive income (loss) 5.2            
Dividends (104.7)     (104.7)      
Exercise/ vesting and expense of share-based compensation, value 60.7 1.1 59.5     0.1  
Exercise/ vesting and expense of share-based compensation, shares   2.1       (0.1)  
Repurchase of common stock, value (9.4)         (9.4)  
Repurchase of common stock, shares           0.5  
Purchases and sales of noncontrolling interests, net of dividends paid (2.2)           (2.2)
Income tax benefits - stock transactions (3.5)   (3.5)        
Shareholders' Equity at Period End at Dec. 31, 2013 $ 1,127.5 $ 189.4 $ 2,175.6 $ 4,196.7 $ (870.4) $ (4,581.2) $ 17.4
Balance, shares at Dec. 31, 2013   748.8       314.9  
[1] (Loss) income from continuing operations, net of tax during 2013 was impacted by valuation allowances for deferred tax assets of $41.8 related to Venezuela in the fourth quarter of 2013 and $9.2 related to the China business in the third quarter of 2013, and during 2012 was impacted by an additional provision for income taxes of $168.3. During the fourth quarter of 2012, we determined that the Company may repatriate offshore cash to meet certain domestic funding needs. Accordingly, we are no longer asserting that the undistributed earnings of foreign subsidiaries are indefinitely reinvested.
[2] In addition to the items impacting operating profit (loss) above, income (loss) from continuing operations, before taxes during 2013 was impacted by a one-time, after-tax loss of $50.7 ($34.1 in other expense, net and $16.6 in income taxes) recorded in the first quarter, primarily reflecting the write-down of monetary assets and liabilities and deferred tax benefits due to the devaluation of Venezuelan currency. Income (loss) from continuing operations, before taxes during 2013 was also impacted by a loss on extinguishment of debt of $73.0 before tax in the first quarter of 2013 caused by the make-whole premium and the write-off of debt issuance costs associated with the prepayment of our Private Notes (as defined in Note 5, Debt and Other Financing), as well as the write-off of debt issuance costs associated with the early repayment of $380.0 of the outstanding principal amount of the term loan agreement (as defined in Note 5, Debt and Other Financing). In addition, income (loss) from continuing operations, before taxes during 2013 was impacted by a loss on extinguishment of debt of $13.0 before tax in the second quarter of 2013 caused by the make-whole premium and the write-off of debt issuance costs and discounts, partially offset by a deferred gain associated with the January 2013 interest-rate swap agreement termination, associated with the prepayment of the 2014 Notes (as defined in Note 5, Debt and Other Financing).In addition, income (loss) from continuing operations, before taxes during 2012 was impacted by a benefit of $23.8 to other expense, net in 2012 due to the release of a provision in the fourth quarter associated with the excess cost of acquiring U.S. dollars in Venezuela at the regulated market rate as compared with the official exchange rate. This provision was released as the Company capitalized the associated intercompany liabilities.