JP Morgan Chase 2010 Annual Report Download - page 162

Consolidated statements of changes in stockholders’ equity and
comprehensive income
JPMorgan Chase & Co./2010 Annual Report
162
Year ended December 31, (in millions, except per share data) 2010 2009 2008
Preferred stock
Balance at January 1 $ 8,152 $ 31,939 $ —
Issuance of preferred stock
—
—
31,550
Issuance of preferred stock
–
conversion of the Bear Stearns preferred stock
—
—
352
Accretion of preferred stock discount on issuance to the U.S. Treasury — 1,213 37
Redemption of preferred stock issued to the U.S. Treasury
—
(25,000)
—
Redemption of
other
preferred stock
(352)
—
—
Balance at December 31
7,800
8,152
31,939
Common stock
Balance at January 1
4,105
3,942
3,658
Issuance of common stock
—
163
284
Balance at December 31
4,105
4,105
3,942
Capital surplus
Balance at January 1
9
7,982
92,143
78,597
Issuance of common stock
—
5,593
11,201
Warrant issued to U.S. Treasury in connection with issuance of preferred stock — — 1,250
Preferred stoc
k issue cost
—
—
(54
)
Shares issued and commitments to issue common stock for employee stock
-
based
compensation awards and related tax effects 706 474 859
Net change from the Bear Stearns merger:
Reissuance of treasury s
tock and the Share Exchange agreement
—
—
48
Employee stock awards — — 242
Other
(1,273)
(228)
—
Balance at December 31
97,415
97,982
92,143
Retained earnings
Balance at January 1 62,481 54,013 54,715
Cumulat
ive effect of change
s
in accounting principles
(4,376)
—
—
Net income
17,370
11,728
5,605
Dividends declared:
Preferred stock
(642)
(1,328)
(674
)
Accelerated amortization from redemption of preferred stock issued to the U
.S. Treasury
—
(1,112)
—
Common stock ($0.20, $0.20 and $1.52 per share for 2010, 2009 and 2008, respectively) (835) (820) (5,633)
Balance at December 31
73,998 62,481
54,013
Accumulated other comprehensive income/(loss)
Bal
ance at January 1
(91)
(5,687)
(917
)
Cumulative effect of changes in accounting principles (144) — —
Other comprehensive income/(loss)
1,236
5,596
(4,770
)
Balance at December 31
1,001
(91)
(5,687
)
Shares held in RSU Trust
Balance at January 1 (68) (217) —
Resulting from the Bear Stearns merger
—
—
(269
)
Reissuance from RSU Trust
15
149
52
Balance at December 31
(53)
(68)
(217
)
Treasury stock, at cost
Balance at January 1
(7,196)
(
9,249)
(12,832
)
Purchase of treasury stock
(2,999)
—
—
Reissuance from treasury stock 2,040 2,079 2,454
Share repurchases related to employee stock
-
based compensation awards
(5)
(26)
(21
)
Net change from the Bear Stearns merger as a result of the reissuance of treasury
stock and the Share Exchange agreement — — 1,150
Balance at December 31
(8,160) (7,196)
(9,249
)
Total stockholders’ equity
$
176,106
$
165,365
$
166,884
Comprehensive income
Net income
$
17,370
$
11,728
$
5,605
Other comprehensive income/(loss) 1,236 5,596 (4,770)
Comprehensive income
$
18,606
$
17,324
$
835
The Notes to Consolidated Financial Statements are an integral part of these statements.