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48 Cisco Systems, Inc.
Shares of
Common
Stock
Common Stock
and
Additional
Paid-In Capital
Retained
Earnings
(Accumulated
Deficit)
Accumulated
Other
Comprehensive
Income
Total
Shareholders’
Equity
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 incentive plans — 35 — — 35
Purchase acquisitions 24 504 — — 504
Share-based compensation expense related to acquisitions and investments — 154 — — 154
BALANCE AT JULY 30, 2005 6,331 $ 22,394 $ 506 $ 274 $ 23,174
Net income — — 5,580 — 5,580
Change in unrealized gains and losses on investments, net of tax — — — (63) (63)
Other — — — 61 61
Comprehensive income 5,578
Issuance of common stock 162 1,682 — — 1,682
Repurchase of common stock (435) (1,592) (6,703) — (8,295)
Tax benefits from employee stock incentive plans — 454 — — 454
Purchase acquisitions 1 188 — — 188
Employee share-based compensation expense — 1,044 — — 1,044
Share-based compensation expense related to acquisitions and investments — 87 — — 87
BALANCE AT JULY 29, 2006 6,059 $ 24,257 $ (617) $ 272 $ 23,912
Net income — — 7,333 — 7,333
Change in unrealized gains and losses on investments, net of tax — — — 124 124
Other — — — 166 166
Comprehensive income 7,623
Issuance of common stock 325 5,306 — — 5,306
Repurchase of common stock (297) (1,296) (6,485) — (7,781)
Tax benefits from employee stock incentive plans — 995 — — 995
Purchase acquisitions 13 462 — — 462
Employee share-based compensation expense — 929 — — 929
Share-based compensation expense related to acquisitions
and investments — 34 — — 34
BALANCE AT JULY 28, 2007 6,100 $ 30,687 $ 231 $ 562 $ 31,480
Supplemental Information
In September 2001, the Company’s Board of Directors authorized a stock repurchase program. As of July 28, 2007, the Company’s Board of Directors had authorized an
aggregate repurchase of up to $52 billion of common stock under this program. For additional information regarding stock repurchases, see Note 9 to the Consolidated
Financial Statements. The stock repurchases since the inception of this program are summarized in the table below (in millions):
Shares of
Common
Stock
Common Stock
and
Additional
Paid-In Capital
Retained
Earnings
(Accumulated
Deficit)
Accumulated
Other
Comprehensive
Income
Total
Shareholders’
Equity
Repurchases of common stock 2,228 $ 7,590 $ 35,639 $ — $ 43,229
See Notes to Consolidated Financial Statements.
Consolidated Statements of Shareholders’ Equity
(in millions)