Cisco 2011 Annual Report Download - page 91

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Consolidated Statements of Equity
(in millions)
Shares of
Common
Stock
Common Stock
and
Additional
Paid-In Capital
Retained
Earnings
Accumulated
Other
Comprehensive
Income
Total Cisco
Shareholders’
Equity
Noncontrolling
Interests Total Equity
BALANCE AT JULY 26, 2008 .................. 5,893 $33,505 $ 120 $ 728 $34,353 $ 49 $34,402
Net income ................................... 6,134 6,134 6,134
Change in:
Unrealized gains and losses on investments ..... (19) (19) (19) (38)
Derivative instruments ...................... (33) (33) (33)
Cumulative translation adjustment and other .... (192) (192) (192)
Comprehensive income (loss) .................... 5,890 (19) 5,871
Cumulative effect of adoption of accounting standard . .
49 (49) — —
Issuance of common stock ....................... 67 863 863 863
Repurchase of common stock .................... (202) (1,188) (2,435) (3,623) (3,623)
Tax effects from employee stock incentive plans ..... (582) (582) (582)
Purchase acquisitions ........................... 27 515 515 515
Share-based compensation expense ................ 1,231 1,231 1,231
BALANCE AT JULY 25, 2009 .................. 5,785 $34,344 $ 3,868 $ 435 $38,647 $ 30 $38,677
Net income ................................... 7,767 7,767 7,767
Change in:
Unrealized gains and losses on investments ..... 195 195 (12) 183
Derivative instruments ...................... 48 48 48
Cumulative translation adjustment and other .... (55) (55) (55)
Comprehensive income (loss) .................... 7,955 (12) 7,943
Issuance of common stock ....................... 201 3,278 3,278 3,278
Repurchase of common stock .................... (331) (2,148) (5,784) (7,932) (7,932)
Tax effects from employee stock incentive plans ..... 719 719 719
Purchase acquisitions ........................... 83 83 83
Share-based compensation expense ................ 1,517 1,517 1,517
BALANCE AT JULY 31, 2010 .................. 5,655 $37,793 $ 5,851 $ 623 $44,267 $ 18 $44,285
Net income .................................. 6,490 6,490 6,490
Change in:
Unrealized gains and losses on investments ... 154 154 15 169
Derivative instruments .................... (21) (21) (21)
Cumulative translation adjustment and other ..
538 538 538
Comprehensive income ........................ 7,161 15 7,176
Issuance of common stock ...................... 141 1,831 1,831 1,831
Repurchase of common stock ................... (361) (2,575) (4,399) (6,974) (6,974)
Cash dividends declared ....................... (658) (658) (658)
Tax effects from employee stock incentive plans ... (33) (33) (33)
Purchase acquisitions ......................... 12 12 12
Share-based compensation expense .............. 1,620 1,620 1,620
BALANCE AT JULY 30, 2011 .................. 5,435 $38,648 $ 7,284 $1,294 $47,226 $ 33 $47,259
Supplemental Information
In September 2001, the Company’s Board of Directors authorized a stock repurchase program. As of July 30, 2011, the Company’s
Board of Directors had authorized an aggregate repurchase of up to $82 billion of common stock under this program with no
termination date. For additional information regarding stock repurchases, see Note 13 to the Consolidated Financial Statements.
The stock repurchases since the inception of this program and the related impacts on Cisco shareholders’ equity are summarized in
the following table (in millions):
Shares of
Common
Stock
Common Stock
and Additional
Paid-In Capital
Retained
Earnings
Total Cisco
Shareholders’
Equity
Repurchases of common stock under the repurchase program 3,478 $15,151 $56,622 $71,773
See Notes to Consolidated Financial Statements.
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