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Table of Contents
The accompanying notes are an integral part of the consolidated financial statements.
63
CDW CORPORATION AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF SHAREHOLDERS’ EQUITY (DEFICIT)
(in millions)
Preferred Stock
Common Stock
Shares
Amount
Shares
Amount
Paid-in
Capital
Accumulated
Deficit
Accumulated
Other
Comprehensive
(Loss) Income
Total
Shareholders’ (Deficit)
Equity
Balance at December 31, 2011
—
$
—
144.9
$
1.4
$
2,184.7
$
(2,191.3
)
$
(2.1
)
$
(7.3
)
Equity-based compensation expense
—
—
—
—
22.1
—
—
22.1
Investment from CDW Holdings LLC
—
—
—
—
2.8
—
—
2.8
Repurchase of common shares
—
—
—
—
—
(
0.7
)
—
(
0.7
)
Accrued charitable contribution related to the MPK
Coworker Incentive Plan II, net of tax
—
—
0.3
—
(
1.4
)
—
—
(
1.4
)
Net income
—
—
—
—
—
119.0
—
119.0
Incentive compensation plan units withheld for taxes
—
—
—
—
(
0.5
)
—
—
(
0.5
)
Foreign currency translation adjustment
—
—
—
—
—
—
2.5
2.5
Balance at December 31, 2012
—
$
—
145.2
$
1.4
$
2,207.7
$
(2,073.0
)
$
0.4
$
136.5
Equity-based compensation expense
—
—
—
—
46.6
—
—
46.6
Issuance of common shares
—
—
26.8
0.3
424.4
—
—
424.7
Repurchase of common shares
—
—
—
—
—
(
0.2
)
—
(
0.2
)
Dividends declared
—
—
—
—
—
(
7.3
)
(7.3
)
Reclassification to goodwill for accrued charitable
contributions
—
—
—
—
9.4
—
—
9.4
Incentive compensation plan units withheld for taxes
—
—
—
—
—
(
24.1
)
—
(
24.1
)
Net income
—
—
—
—
—
132.8
—
132.8
Foreign currency translation adjustment
—
—
—
—
—
—
(
6.7
)
(6.7
)
Balance at December 31, 2013
—
$
—
172.0
$
1.7
$
2,688.1
$
(1,971.8
)
$
(6.3
)
$
711.7
Equity-based compensation expense
—
—
—
—
16.4
—
—
16.4
Stock options exercised
—
—
—
—
1.3
—
—
1.3
Excess tax benefits from equity-based compensation
—
—
—
—
0.3
—
—
0.3
Coworker stock purchase plan
—
—
0.2
—
5.8
—
—
5.8
Dividends declared
—
—
—
—
—
(
33.6
)
—
(
33.6
)
Net income
—
—
—
—
—
244.9
—
244.9
Foreign currency translation adjustment
—
—
—
—
—
—
(
10.3
)
(10.3
)
Balance at December 31, 2014
—
$
—
172.2
$
1.7
$
2,711.9
$
(1,760.5
)
$
(16.6
)
$
936.5