Cisco 2008 Annual Report Download - page 45

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50 Cisco Systems, Inc.
Consolidated Statements of Shareholders’ Equity
(in millions)
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 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)
Cumulative translation adjustment and 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
Cumulative translation adjustment and 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
Cumulative effect of adopting FIN 48 — 249 202 — 451
BALANCE AT JULY 29, 2007 6,100 30,936 433 562 31,931
Net income — — 8,052 — 8,052
Change in unrealized gains and losses on investments, net of tax — — — (61) (61)
Cumulative translation adjustment and other — — — 227 227
Comprehensive income 8,218
Issuance of common stock 165 3,117 — — 3,117
Repurchase of common stock (372) (2,015) (8,365) — (10,380)
Tax benefits from employee stock incentive plans — 346 — — 346
Purchase acquisitions — 9 — — 9
Employee share-based compensation expense — 1,025 — — 1,025
Share-based compensation expense related to acquisitions
and investments — 87 — — 87
BALANCE AT JULY 26, 2008 5,893 $ 33,505 $ 120 $ 728 $ 34,353
Supplemental Information
In September 2001, the Company’s Board of Directors authorized a stock repurchase program. As of July 26, 2008, the Company’s Board of Directors had authorized an
aggregate repurchase of up to $62 billion of common stock under this program. For additional information regarding stock repurchases, see Note 11 to the Consolidated
Financial Statements. The stock repurchases since the inception of this program and the related impact on shareholders’ equity 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 2,600 $ 9,575 $ 44,004 $ — $ 53,579
See Notes to Consolidated Financial Statements.