JP Morgan Chase 2005 Annual Report Download - page 91
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JPMorgan Chase & Co. /2005 Annual Report 89
Consolidated statements of changes in stockholders’ equity
JPMorgan Chase & Co.
Year ended December 31, (in millions, except per share data)(a) 2005 2004 2003
Preferred stock
Balance at beginning of year $ 339 $ 1,009 $ 1,009
Redemption of preferred stock (200) (670) —
Balance at end of year 139 339 1,009
Common stock
Balance at beginning of year 3,585 2,044 2,024
Issuance of common stock 33 72 20
Issuance of common stock for purchase accounting acquisitions —1,469 —
Balance at end of year 3,618 3,585 2,044
Capital surplus
Balance at beginning of year 72,801 13,512 13,222
Issuance of common stock and options for purchase accounting acquisitions —55,867 —
Shares issued and commitments to issue common stock for employee stock-based
awards and related tax effects 2,193 3,422 290
Balance at end of year 74,994 72,801 13,512
Retained earnings
Balance at beginning of year 30,209 29,681 25,851
Net income 8,483 4,466 6,719
Cash dividends declared:
Preferred stock (13) (52) (51)
Common stock ($1.36 per share each year) (4,831) (3,886) (2,838)
Balance at end of year 33,848 30,209 29,681
Accumulated other comprehensive income (loss)
Balance at beginning of year (208) (30) 1,227
Other comprehensive income (loss) (418) (178) (1,257)
Balance at end of year (626) (208) (30)
Treasury stock, at cost
Balance at beginning of year (1,073) (62) (1,027)
Purchase of treasury stock (3,412) (738) —
Reissuance from treasury stock —— 1,082
Share repurchases related to employee stock-based awards (277) (273) (117)
Balance at end of year (4,762) (1,073) (62)
Total stockholders’ equity $ 107,211 $105,653 $ 46,154
Comprehensive income
Net income $ 8,483 $ 4,466 $ 6,719
Other comprehensive income (loss) (418) (178) (1,257)
Comprehensive income $ 8,065 $ 4,288 $ 5,462
(a) 2004 results include six months of the combined Firm’s results and six months of heritage JPMorgan Chase results. 2003 reflects the results of heritage JPMorgan Chase only.
The Notes to consolidated financial statements are an integral part of these statements.