Morgan Stanley 1999 Annual Report Download - page 62

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99 AR |page 60 NOTE
RECEIVABLE COMMON COMMON
RELATED TO STOCK STOCK
SALE OF HELD ISSUED
EMPLOYEE CUMULATIVE PREFERRED IN TO
PREFERRED COMMON PAID-IN RETAINED STOCK TRANSLATION STOCK TO TREASURY, EMPLOYEE
(dollars in millions) STOCK STOCK(1) CAPITAL(1) EARNINGS TRUST ADJUSTMENTS ESOP AT COST TRUST TOTAL
BALANCE AT FISCAL
YEAR-END 1996 $1,223 $12 $3,583 $7,477 $1,495 $(11) $(78) $(1,005) $ (994) $11,702
Net income — — — 2,586—————2,586
Dividends — — — (387) —————(387)
Redemption of 8.88%
Cumulative Preferred
Stock (195) ————————(195)
Redemption of 8-3/4%
Cumulative Preferred
Stock (150) ————————(150)
Conversion of ESOP
Preferred Stock (2)—(1)———— 3——
Issuance of common stock — — (22) ————246—224
Repurchases of common
stock ———————(124) — (124)
Compensation payable in
common stock — — 243 — 186 — — 278 (343) 364
ESOP shares allocated,
at cost ——————10——10
Retirement of treasury stock — — (6) (265) — — — 271 — —
Translation adjustments ————— 2——— 2
Issuance of common stock
in connection with
Discover Brokerage Direct
acquisition ——14————49—63
Adjustment for change in
Dean Witter Discover’s
year-end — — (90) (81) — — — 32 — (139)
BALANCE AT
NOVEMBER 30, 1997 $ 876 $12 $3,721 $9,330 $1,681 $ (9) $(68) $ (250) $(1,337) $13,956
Net income — — — 3,276—————3,276
Dividends — — — (526) —————(526)
Redemption of 7-3/8%
Cumulative Preferred Stock (200) ————————(200)
Conversion of ESOP
Preferred Stock (2) — (12) ————14——
Issuance of common stock — — (210) ————417—207
Repurchases of common
stock ———————(2,925) — (2,925)
Compensation payable in
common stock — — 241 — 232 — — 42 (189) 326
ESOP shares allocated,
at cost —————— 8—— 8
Translation adjustments —————(3)———(3)
consolidated statements of
changes in shareholders’ equity