IBM 2003 Annual Report Download - page 80

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78
(dollars in millions)
ACCUMULATED
GAINS AND
(LOSSES) NOT
AFFECTING
COMMON RETAINED TREASURY RETAINED
STOCK EARNINGS STOCK EARNINGS TOTAL
2003
Stockholders’ equity, January 1, 2003 $«14,858 $«31,555 $«(20,213) $«(3,418) $«22,782
Net income plus gains and (losses) not
affecting retained earnings:
Net income 7,583 $«««7,583
Gains and (losses) not affecting retained earnings (net of tax):
Net unrealized losses on SFAS No. 133 cash flow hedge
derivatives during 2003 (net of tax benefit of $51) (91) (91)
Foreign currency translation adjustments
(net of tax benefit of $125) 1,768 1,768
Minimum pension liability adjustment
(net of tax benefit of $124) (162) (162)
Net unrealized gains on marketable securities
(net of tax expense of $3) 77
Total gains and (losses) not affecting retained earnings 1,522
Subtotal: Net income plus gains and (losses)
not affecting retained earnings $«««9,105
Cash dividends declared—common stock (1,085) (1,085)
Common stock issued under employee plans (16,445,473 shares) 1,205 (282) 923
Purchases (291,921 shares) and sales (5,992,342 shares) of
treasury stock under employee plans—net (246) 582 336
Other treasury shares purchased, not retired (49,994,514 shares) (4,403) (4,403)
Shares to be issued in the PwCC acquisition 88
Decrease in shares remaining to be issued in acquisition (4) (4)
Tax effect—stock transactions 202 202
Stockholders’ equity, December 31, 2003 $«16,269 $«37,525 $«(24,034) $«(1,896) $«27,864
The accompanying notes on pages 80 through 121 are an integral part of the financial statements.
Consolidated Statement of Stockholders’ Equity
INTERNATIONAL BUSINESS MACHINES CORPORATION AND SUBSIDIARY COMPANIES