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32
CDW CORPORATION AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF SHAREHOLDERS’ EQUITY
(in thousands)
Total
Shareholders’
Equity
Common
Shares
Paid-in
Capital
Retained
Earnings
Unearned
Compensation
Treasury
Shares
Accumulated
Other
Comprehensive
Income
Comprehensive
Income
Balance at December 31, 2003 $ 1,061,184 $ 909 $ 408,413 $ 956,867 $ (269) $ (304,919) $ 183
Amortization of unearned
compensation 252 - - - 252 - -
Share-based compensation 62 - 62 - - - -
Issuance of common stock under
share-based compensation plans 34,866 13 34,853 - - - -
Tax benefit from stock option and
restricted stock transactions 19,625 - 19,625 - - - -
Purchase of treasury shares (86,010) - - - - (86,010) -
Cash dividends (30,027) - - (30,027) - - -
Net income 241,445 - - 241,445 - - - $ 241,445
Net unrealized losses on marketable
securities (237) - - - - - (237) (237)
Foreign currency translation adjustment 257 - - - - - 257 257
Comprehensive income $ 241,465
Balance at December 31, 2004 1,241,417 922 462,953 1,168,285 (17) (390,929) 203
Amortization of unearned
compensation 79 - - - 79 - -
Share-based compensation 3,794 - 4,256 - (462) - -
Issuance of common stock under
share-based compensation plans 29,683 12 29,671 - - - -
Tax benefit from stock option and
restricted stock transactions 10,952 - 10,952 - - - -
Purchase of treasury shares (258,298) - - - - (258,298) -
Cash dividends (35,114) - - (35,114) - - -
Net income 272,092 - - 272,092 - - - $ 272,092
Net unrealized losses on marketable
securities, net of tax (155) - - - - - (155) (155)
Foreign currency translation adjustment 115 - - - - - 115 115
Comprehensive income $ 272,052
Balance at December 31, 2005 1,264,565 934 507,832 1,405,263 (400) (649,227) 163
Reclass upon adoption of SFAS 123R - - (400) - 400 - -
Share-based compensation 15,754 - 15,754 - - - -
Issuance of common stock under
share-based compensation plans 78,337 29 78,308 - - - -
Excess tax benefit from stock option
and restricted stock transactions 30,490 - 30,490 - - - -
Purchase of treasury shares (227,669) - - - - (227,669) -
Cash dividends (40,723) - - (40,723) - - -
Net income 266,080 - - 266,080 - - - $ 266,080
Net unrealized gains on marketable
securities, net of tax 392 - - - - - 392 392
Foreign currency translation adjustment (61) - - - - - (61) (61)
Comprehensive income $ 266,411
Balance at December 31, 2006 $ 1,387,165 $ 963 $ 631,984 $ 1,630,620 $ - $ (876,896) $ 494
The accompanying notes are an integral part of the consolidated financial statements.