Shutterfly 2014 Annual Report Download - page 76

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SHUTTERFLY, INC.
CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY
(In thousands)
Year Ended December 31,
2014 2013 2012
Common stock (par value)
Balance, beginning of year ......................... $ 4 $ 4 $ 4
Issuance of common stock in connection with acquisition
and upon exercise of options and vesting of restricted
stock units ...................................111
Common stock repurchased and retired ............... (1) (1) (1)
Balance, end of year .............................444
Additional paid-in capital
Balance, beginning of year ......................... 771,875 652,110 589,067
Issuance of common stock upon exercise of options and
vesting of restricted stock units .................... 3,243 19,112 10,210
Stock based compensation, net of forfeitures ............ 63,358 55,237 38,214
Tax benefit/(shortfall) of stock options ................ (163) 2,957 14,619
Equity component of the convertible note issuance, net .... — 62,409 —
Purchase of convertible note hedge .................. — (63,510) —
Sale of warrants ................................ — 43,560 —
Balance, end of year ............................. 838,313 771,875 652,110
Accumulated other comprehensive loss
Balance, beginning of year .........................———
Unrealized loss on investments, net of tax .............. (53) — —
Balance, end of year ............................. (53) — —
Accumulated earnings (deficit)
Balance, beginning of year ......................... 16,216 39,172 19,926
Common stock repurchased and retired ............... (88,814) (32,241) (3,752)
Net income/(loss) ............................... (7,860) 9,285 22,998
Balance, end of year ............................. (80,458) 16,216 39,172
Total stockholders’ equity ........................... $ 757,806 $ 788,095 $ 691,286
Number of shares
Common stock
Balance, beginning of year ......................... 38,196 36,358 34,839
Issuance of common stock upon exercise of options and
vesting of restricted stock units .................... 1,671 2,540 1,656
Common stock repurchased and retired ............... (1,961) (702) (137)
Balance, end of year ............................. 37,906 38,196 36,358
The accompanying notes are an integral part of these consolidated financial statements.
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