IBM 1998 Annual Report Download - page 69

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6 7
C O N S O L I D ATED STATEMENT OF STOCKHOLDERS’ EQUITY I n t e rnational Business Machines Corporation and Subsidiary Companies
Accumulated
Gains and
Losses Not
Employee Affecting
Preferred Common Retained Treasury Benefits Retained
(Dollars in millions) Stock Stock Earnings Stock Trust Earnings Total
1998
Stockholders’ equity, December 31, 1997 «$«252 «$«««8,601 «$«11,010 «««$«««(86)««««$««««(860) «$«899 «$«19,816
Net income plus gains and losses not
affecting retained earnings:
Net income 6,328 $«««6,328
Gains and losses not affecting
retained earnings (net of tax):
Foreign currency translation adjustments
(net of tax benefit of $45) 69 69
Net unrealized losses on marketable
securities (net of tax benefit of $36) (57) (57)
Total gains and losses not affecting
retained earnings 12
Subtotal: Net income plus gains and
losses not affecting retained earnings $«««6,340
Cash dividends declared—common stock (814) (814)
Cash dividends declared—preferred stock (20) (20)
Common stock purchased and retired
(56,996,818 shares) (556) (6,291) (6,847)
Preferred stock purchased and retired
(51,250 shares) (5) (5)
Common stock issued under employee
plans (14,850,519 shares) 709 (1) 708
Purchases (4,163,057 shares) and sales
(4,124,866 shares) of treasury stock
under employee plans— net (71) (47) (118)
Fair value adjustment of employee
benefits trust 1,002 (994) 8
Tax effect— stock transactions 365 365
Stockholders’ equity, December 31, 1998 $«247 $«10,121 $«10,141 $«(133) $«(1,854) $«911 $«19,433
*Reclassified to conform to 1998 pre s e n t a t i o n .
The notes on pages 69 through 89 of the 19 98 IBM Annual Report are an integral part of this stateme nt.