Shutterfly 2012 Annual Report Download - page 64

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SHUTTERFLY, INC.
CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY
(In thousands)
Year Ended December 31,
2012 2011 2010
Common stock (par value)
Balance, beginning of year ......................... $ 4 $ 3 $ 3
Issuance of common stock in connection with acquisition
and upon exercise of options and vesting of restricted
stock units ................................... 1 1 —
Common stock repurchased and retired ............... (1) — —
Balance, end of year .............................443
Additional paid-in capital
Balance, beginning of year ......................... 589,067 263,726 226,410
Issuance of common stock upon exercise of options and
vesting of restricted stock units .................... 10,210 22,277 14,703
Stock based compensation, net of estimated forfeiture ..... 38,214 34,351 16,640
Issuance of common stock in connection with acquisition . . . — 260,322 —
Tax benefit of stock options ........................ 14,619 8,391 5,973
Balance, end of year ............................. 652,110 589,067 263,726
Accumulated earnings (deficit)
Balance, beginning of year ......................... 19,926 5,878 (11,249)
Common stock repurchased and retired ............... (3,752) — —
Net income .................................... 22,998 14,048 17,127
Balance, end of year ............................. 39,172 19,926 5,878
Total stockholders’ equity ........................... $ 691,286 $ 608,997 $ 269,607
Number of shares
Common stock
Balance, beginning of year ......................... 34,839 27,957 25,909
Issuance of common stock upon exercise of options and
vesting of restricted stock units .................... 1,656 2,882 2,048
Common stock repurchased and retired ............... (137) — —
Issuance of common stock in connection with acquisition . . . — 4,000 —
Balance, end of year ............................. 36,358 34,839 27,957
The accompanying notes are an integral part of these consolidated financial statements.
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