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This excerpt taken from the ALL 10-Q filed May 7, 2009. Shareholders’ equity decreased in the first three months of 2009,
due to a net loss, dividends paid to shareholders and increases in unrealized
net capital losses on investments.
This excerpt taken from the ALL 10-Q filed Nov 6, 2008. Shareholders’ equity decreased in the first nine months of
2008, due to unrealized net capital losses on investments, share repurchases,
dividends paid to shareholders, net loss and an increase in the net underfunded
status of the pension and other post-retirement benefit obligation.
The increase in the net underfunded status of the pension and other post-retirement benefit obligation was the result of conforming our plan measurement date with our fiscal year-end reporting date as required by Financial Accounting Standards Board Statement No. 158, Employers’ Accounting for Defined Benefit Pension and Other Postretirement Plans (“SFAS No. 158). We recorded a decrease of $13 million, after-tax, to beginning retained income representing the net periodic benefit cost for the period between October 31, 2007 and December 31, 2007 and a decrease of $80 million, after-tax, to beginning net funded status of pension and other postretirement benefit obligations to reflect changes in the fair value of plan assets and the benefit obligations between October 31, 2007 and January 1, 2008 and for amortization of actuarial gains and losses and prior service costs between October 31, 2007 and December 31, 2007. For further information on SFAS No. 158, see Note 1 to the Condensed Consolidated Financial Statements.
We completed our $4.00 billion share repurchase program that commenced in November 2006, and commenced a $2.00 billion share repurchase program. We suspended the share repurchase program in October 2008 and do not plan to complete it by the target date of March 31, 2009. We will re-evaluate this program as market conditions develop in 2009. The number of shares repurchased under the program was 9.9 million shares for $449 million during the three months ended September 30, 2008, and 22.5 million shares for $1.07 billion for the nine months ended September 30, 2008.
The $750 million of 7.20% Senior Notes due 2009 are scheduled to mature on December 1, 2009. These Senior Notes are expected to be refinanced or repaid from available capital.
This excerpt taken from the ALL 10-Q filed Aug 6, 2008. Shareholders’ equity decreased in the first six months of 2008, due to
unrealized net capital losses on investments, share repurchases, dividends paid
to shareholders and an increase in the net underfunded status of the pension
and other post-retirement benefit obligation partially offset by net income.
The increase in the net underfunded status of the pension and other post-retirement benefit obligation was the result of conforming our plan measurement date with our fiscal year-end reporting date as required by SFAS No. 158, Employers’ Accounting for Defined Benefit Pension and Other Postretirement Plans. We recorded a decrease of $13 million, after-tax, to beginning retained income representing the net periodic benefit cost for the period between October 31, 2007 and December 31, 2007 and a decrease of $80 million, after-tax, to beginning net funded status of pension and other postretirement benefit obligations to reflect changes in the fair value of plan assets and the benefit obligations between October 31, 2007 and January 1, 2008 and for amortization of actuarial gains and losses and prior service costs between October 31, 2007 and December 31, 2007. For further information on SFAS No. 158, see Note 1 to the Condensed Consolidated Financial Statements.
We completed our $4.00 billion share repurchase program that commenced in November 2006, and commenced a $2.00 billion share repurchase program that is expected to be completed by March 31, 2009. During the first six months of 2008, we repurchased 17.5 million shares for $858 million; $1.38 billion remains of the $2 billion share repurchase program.
This excerpt taken from the ALL 10-Q filed May 8, 2008. Shareholders’ equity decreased in the first quarter of 2008, due
to unrealized net capital losses on investments, share repurchases, dividends
paid to shareholders and an increase in the net underfunded status of the
pension and other post-retirement benefit obligation partially offset by net
income. The increase in the net
underfunded status of
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the pension and other post-retirement benefit obligation was the result of conforming our plan measurement date with our fiscal year-end reporting date.
As a result of the adoption of Statement of Financial Accounting Standards No. 158, Employers’ Accounting for Defined Benefit Pension and Other Postretirement Plans, we recorded a decrease of $13 million, after-tax, to beginning retained income representing the net periodic benefit cost for the period between October 31, 2007 and December 31, 2007 and a decrease of $80 million, after-tax, to beginning net funded status of pension and other postretirement benefit obligations to reflect changes in the fair value of plan assets and the benefit obligations between October 31, 2007 and January 1, 2008 and for amortization of actuarial gains and losses and prior service costs between October 31, 2007 and December 31, 2007. For further information on SFAS No. 158, see Note 1 to the Condensed Consolidated Financial Statements.
We completed our $4.00 billion share repurchase program that commenced in November 2006, and commenced a $2.00 billion share repurchase program that is expected to be completed by March 31, 2009. As of March 31, 2008, this program had $1.82 billion remaining.
This excerpt taken from the ALL 10-Q filed Oct 31, 2007. Shareholders’ equity declined in the first nine months of 2007, due
to share repurchases, decreases in unrealized net capital gains on investments
and dividends paid to shareholders, partially offset by net income. As of
September 30, 2007, our $4.00 billion share repurchase program, which commenced
in November 2006, had $820 million remaining and is expected to be completed by
March 31, 2008. The current $4.00 billion program was increased from $3.00
billion in May 2007, reflecting the amount of proceeds received from our
issuance of $1.00 billion of junior subordinated securities as described below.
Share repurchases during the second and third quarter of 2007 included an
accelerated stock repurchase agreement which commenced on June 27, 2007 and
settled on August 14, 2007 totaling $500 million. Our accelerated stock repurchase
program was completed using available funds including the issuance of $1
billion of junior subordinated securities during the second quarter of 2007.
This excerpt taken from the ALL 10-Q filed Aug 1, 2007. Shareholders’ equity declined in the
first six months of 2007, due to share repurchases, decreases in unrealized net
capital gains on investments and dividends paid to shareholders, partially
offset by net income. As of June 30,
2007, our $4.00 billion share repurchase program, which commenced in November
2006, had $1.59 billion remaining and is expected to be completed by March 31,
2008. The current $4.00 billion program was increased from $3.00 billion in May
2007, reflecting the amount of proceeds received from our issuance of $1.00
billion of junior subordinated securities as described below. Share repurchases during the second quarter
of 2007 included an accelerated stock repurchase agreement which commenced on
June 27, 2007 and will settle the total shares repurchased in up to four months
totaling $500 million. Our accelerated
stock repurchase program will be completed using available funds including the
issuance of $1 billion of junior subordinated securities during the second
quarter of 2007.
This excerpt taken from the ALL 10-Q filed May 1, 2007. Shareholders’
equity increased in the first quarter of 2007, due to
net income which was partially offset by share repurchases, dividends paid to
shareholders and decreases in unrealized net capital gains on investments. As of March 31, 2007, our $3.00 billion share
repurchase program, which commenced in November 2006, had $2.09 billion
remaining and is expected to be completed by March 31, 2008. In April 2007, the Allstate board of
directors authorized the issuance of up to $1 billion of junior subordinated
securities, that we expect to issue during the second quarter of 2007
(favorable market conditions existing), the proceeds of which will be used to
repurchase up to $1 billion of our common stock by March 31, 2008 in addition
to the current $3 billion share repurchase program.
This excerpt taken from the ALL 10-Q filed Nov 1, 2006. Shareholders’
equity increased in the first nine months of 2006, due to net
income which was partly offset by share repurchases, dividends paid to
shareholders and decreases in unrealized net capital gains on investments. As of September 30, 2006, $295 million remained
on our current $4.00 billion share repurchase program that commenced in January
2005, and we expect to complete the program in 2006. In October 2006, we announced a $3.00 billion
share repurchase program that will commence upon the completion of our current
$4.00 billion share repurchase program during the fourth quarter of 2006, and
is expected to be completed by March 31, 2008.
This excerpt taken from the ALL 10-Q filed Aug 8, 2006. Shareholders’ equity
increased in the first six months of 2006, primarily due to net income being
partly offset by decreases in unrealized net capital gains on investments,
share repurchases and dividends paid to shareholders. As of June 30, 2006, our $4.00 billion share
repurchase program, which commenced in January 2005, had $603 million remaining
and is expected to be completed in 2006.
This excerpt taken from the ALL 10-Q filed May 3, 2006. Shareholders’
equity increased in the first quarter of 2006,
primarily due to net income being partly offset by decreases in unrealized net
capital gains on investments, share repurchases and dividends paid to
shareholders. As of March 31, 2006, our $4.00 billion share repurchase program,
which commenced in January 2005, had $1.09 billion remaining and is expected to
be completed in 2006.
This excerpt taken from the ALL 10-Q filed Nov 1, 2005. Shareholders’ equity declined in the first
nine months of 2005 when compared to December 31, 2004, due to share
repurchases, decreases in unrealized net capital gains on investments and
dividends paid to shareholders. In January 2005,
we commenced a $4.00 billion share repurchase program. As of September 30, 2005, this program
had $1.78 billion remaining and is expected to be completed in 2006.
54
This excerpt taken from the ALL 10-Q filed Aug 3, 2005. Shareholders’ equity increased in the first
six months of 2005 when compared to December 31, 2004, as net income was
partly offset by share repurchases, dividends paid to shareholders and
decreases in unrealized net capital gains on investments. In January 2005, we commenced a $4.00
billion share repurchase program. As of June 30,
2005, this program had $2.50 billion remaining and is expected to be completed
in 2006.
This excerpt taken from the ALL 10-Q filed May 3, 2005. Shareholders’
equity decreased in the first quarter of 2005 when compared
to December 31, 2004, as net income was more than offset by decreases in
unrealized net capital gains on investments and share repurchases. In January 2005, we commenced a $4.00 billion
share repurchase program. As of March
31, 2005, this program had $3.29 billion remaining and is expected to be
completed in 2006.
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