Cisco 2005 Annual Report Download - page 40
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43
BALANCE AT JULY 27, 2002
BALANCE AT JULY 26, 2003
BALANCE AT JULY 31, 2004 6,735 $ 22,450 $ 3,164 $ 212 $ 25,826
Net income — — 5,741 — 5,741
Change in unrealized gains and losses on investments, net of tax — — — 52 52
Other — — — 10 10
Comprehensive income 5,803
Issuance of common stock 112 1,087 — — 1,087
Repurchase of common stock (540) (1,836) (8,399) — (10,235)
Tax benefits from employee stock option plans — 35 — — 35
Acquisitions 24 504 — — 504
Stock-based compensation related to acquisitions and investments — 154 — — 154
BALANCE AT JULY 30, 2005 6,331 $ 22,394 $ 506 $ 274 $ 23,174
Supplemental Information
In September 2001, the Company’s Board of Directors authorized a stock repurchase program. As of July 30, 2005, the Company’s
Board of Directors has authorized the repurchase of up to $35 billion of common stock under this program. For additional
information regarding stock repurchases, see Note 9 to the Consolidated Financial Statements. The purchase price of shares of
common stock repurchased was reflected as a reduction to retained earnings and common stock and additional paid-in capital.
Issuance of common stock and the tax benefit related to employee stock option plans are recorded as an increase to common stock
and additional paid-in capital. The stock repurchases since the inception of this program are summarized in the table below (in millions):
See Notes to Consolidated Financial Statements.
Consolidated Statements of Shareholders’ Equity
(in millions)