harris corporation

CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME AND EQUITY
Accumulated
Other
Common
Stock
Other
Capital
Retained
Earnings
Comprehensive
Income (Loss)
Noncontrolling
Interests
Total
Equity
(In millions, except per share amounts)
Balance at June 27, 2008 ................... $133.6 $453.6 $1,660.8 $ 24.3 $ 332.0 $2,604.3
Net income (loss) . . . . . . . . . . . . . . . . . . . . . . . . . — — 37.9 — (162.5) (124.6)
Foreign currency translation . . . . . . . . . . . . . . . . . .
Net unrealized gain on hedging derivatives, net of
— — — (59.0) (5.0) (64.0)
income taxes of $(1.4) . . . . . . . . . . . . . . . . . . . .
Net unrealized loss on securities available-for-sale,
— — — 2.1 0.2 2.3
net of income taxes of $3.1 . . . . . . . . . . . . . . . .
Amortization of loss on treasury lock, net of income
— — — (5.0) — (5.0)
taxes of $(0.4). . . . . . . . . . . . . . . . . . . . . . . . . .
Net unrecognized pension obligation, net of income
— — — 0.6 — 0.6
taxesof$6.9........................... — — — (11.3) — (11.3)
Comprehensive loss . . . . . . . . . . . . . . . . . . . . . . . (202.0)
Shares issued under stock incentive plans . . . . . . . . 0.5 7.2 — — — 7.7
Share-based compensation expense . . . . . . . . . . . . . — 39.2 — — — 39.2
Repurchases and retirement of common stock . . . . . (2.7) (33.7) (95.9) — — (132.3)
Other activity related to noncontrolling interest . . . . — — — — 2.1 2.1
Spin-off of Harris Stratex Networks, Inc. . . . . . . . . — — (173.1) (3.1) (166.8) (343.0)
Cash dividends ($.80 per share) . . . . . . . . . . . . . . .
Adoption of accounting standard related to pension
— — (106.6) — — (106.6)
benefits . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . — — (0.3) — — (0.3)
Balance at July 3, 2009 .................... 131.4 466.3 1,322.8 (51.4) — 1,869.1
Net income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . — — 561.6 — — 561.6
Foreign currency translation . . . . . . . . . . . . . . . . . .
Net unrealized loss on hedging derivatives, net of
— — — 31.8 — 31.8
income taxes of $0.4 . . . . . . . . . . . . . . . . . . . . .
Net unrealized gain on securities available-for-sale,
— — — (0.7) — (0.7)
net of income taxes of $(0.5) . . . . . . . . . . . . . . .
Amortization of loss on treasury lock, net of income
— — — 0.8 — 0.8
taxes of $(0.3). . . . . . . . . . . . . . . . . . . . . . . . . .
Net unrecognized pension obligation, net of income
— — — 0.5 — 0.5
taxes of $0.9 . . . . . . . . . . . . . . . . . . . . . . . . . . . — — — (1.4) — (1.4)
Comprehensive income . . . . . . . . . . . . . . . . . . . . . 592.6
Shares issued under stock incentive plans . . . . . . . . 0.9 14.7 — — — 15.6
Share-based compensation expense . . . . . . . . . . . . . — 35.3 — — — 35.3
Repurchases and retirement of common stock . . . . . (4.8) (55.2) (148.0) — — (208.0)
Cash dividends ($.88 per share) . . . . . . . . . . . . . . . — — (115.0) — — (115.0)
Other activity related to noncontrolling interest . . . . — — — — 0.5 0.5
Balance at July 2, 2010 .................... 127.5 461.1 1,621.4 (20.4) 0.5 2,190.1
Net income (loss) . . . . . . . . . . . . . . . . . . . . . . . . . — — 588.0 — (0.9) 587.1
Foreign currency translation . . . . . . . . . . . . . . . . . .
Net unrealized loss on hedging derivatives, net of
— — — 36.5 — 36.5
income taxes of $0.4 . . . . . . . . . . . . . . . . . . . . .
Net unrealized gain on securities available-for-sale,
— — — (0.6) — (0.6)
net of income taxes of $(0.3) . . . . . . . . . . . . . . .
Amortization of loss on treasury lock, net of income
— — — 0.5 — 0.5
taxes of $(0.4). . . . . . . . . . . . . . . . . . . . . . . . . .
Net unrecognized pension obligation, net of income
— — — 0.6 — 0.6
taxes of $(1.3). . . . . . . . . . . . . . . . . . . . . . . . . . — — — 2.1 — 2.1
Comprehensive income . . . . . . . . . . . . . . . . . . . . . — — — — — 626.2
Shares issued under stock incentive plans . . . . . . . . 0.9 21.4 — — — 22.3
Share-based compensation expense . . . . . . . . . . . . . — 46.1 — — — 46.1
Repurchases and retirement of common stock . . . . . (5.3) (57.4) (193.4) — — (256.1)
Cash dividends ($1.00 per share) . . . . . . . . . . . . . . — — (127.0) — — (127.0)
Other activity related to noncontrolling interests . . . . — — — — 10.4 10.4
Balance at July 1, 2011 .................... $123.1 $471.2 $1,889.0 $ 18.7 $ 10.0 $2,512.0
See accompanying Notes to Consolidated Financial Statements.
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