JP Morgan Chase 2006 Annual Report Download - page 94
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92 JPMorgan Chase & Co. / 2006 Annual Report
CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS’ EQUITY AND COMPREHENSIVE INCOME
JPMorgan Chase & Co.
Year ended December 31, (in millions, except per share data) 2006 2005 2004(a)
Preferred stock
Balance at beginning of year $ 139 $ 339 $ 1,009
Redemption of preferred stock (139) (200) (670)
Balance at end of year — 139 339
Common stock
Balance at beginning of year 3,618 3,585 2,044
Issuance of common stock 40 33 72
Issuance of common stock for purchase accounting acquisitions —— 1,469
Balance at end of year 3,658 3,618 3,585
Capital surplus
Balance at beginning of year 74,994 72,801 13,512
Issuance of common stock and options for purchase accounting acquisitions —— 55,867
Shares issued and commitments to issue common stock for employee stock-based
compensation awards and related tax effects 2,813 2,193 3,422
Balance at end of year 77,807 74,994 72,801
Retained earnings
Balance at beginning of year 33,848 30,209 29,681
Cumulative effect of change in accounting principles 172 ——
Balance at beginning of year, adjusted 34,020 30,209 29,681
Net income 14,444 8,483 4,466
Cash dividends declared:
Preferred stock (4) (13) (52)
Common stock ($1.36 per share each year) (4,860) (4,831) (3,886)
Balance at end of year 43,600 33,848 30,209
Accumulated other comprehensive income (loss)
Balance at beginning of year (626) (208) (30)
Other comprehensive income (loss) 171 (418) (178)
Adjustment to initially apply SFAS 158 (1,102) ——
Balance at end of year (1,557) (626) (208)
Treasury stock, at cost
Balance at beginning of year (4,762) (1,073) (62)
Purchase of treasury stock (3,938) (3,412) (738)
Reissuance from treasury stock 1,334 ——
Share repurchases related to employee stock-based compensation awards (352) (277) (273)
Balance at end of year (7,718) (4,762) (1,073)
Total stockholders’ equity $ 115,790 $ 107,211 $105,653
Comprehensive income
Net income $ 14,444 $ 8,483 $ 4,466
Other comprehensive income (loss) 171 (418) (178)
Comprehensive income $ 14,615 $ 8,065 $ 4,288
(a) 2004 results include six months of the combined Firm’s results and six months of heritage JPMorgan Chase results.
The Notes to consolidated financial statements are an integral part of these statements.