Xerox 2002 Annual Report Download - page 43

Download and view the complete annual report

Please find page 43 of the 2002 Xerox annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 100

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100

41
Common Common Additional Accumulated
Stock Stock Paid-In Retained Other Compre-
(In millions, except share data) Shares Amount Capital Earnings hensive Loss(1) Total
Balance at December 31, 1999 665,156 $667 $1,600 $1,910 $(1,224) $2,953
Net loss (273) (273)
Translation adjustments (356) (356)
Minimum pension liability, net of tax 5 5
Unrealized loss on securities (5) (5)
Comprehensive loss $ (629)
Stock option and incentive plans 940 1 32 33
Xerox Canada exchangeable stock 29
Convertible securities 2,451 2 28 (8) 22
Cash dividends declared:
Common stock ($0.65 per share) (434) (434)
Preferred stock ($6.25 per share),
net of tax benefit (46) (46)
Put options, net (100) (100)
Other 11 2
Balance at December 31, 2000 668,576 $670 $1,561 $1,150 $(1,580) $1,801
Net loss (94) (94)
Translation adjustments (210) (210)
Minimum pension liability, net of tax (40) (40)
Unrealized gain on securities 44
FAS 133 transition adjustment (19) (19)
Net unrealized gains on cash flow hedges 12 12
Comprehensive loss $ (347)
Stock option and incentive plans 546 1 5 6
Xerox Canada exchangeable stock 312
Convertible securities 5,865 6 36 42
Cash dividends declared:
Common stock ($0.05 per share) (34) (34)
Preferred stock ($1.56 per share),
net of tax benefit (12) (12)
Put options, net 4 4
Equity for debt exchanges 41,154 41 270 311
Issuance of unregistered shares 5,861 6 22 28
Other (2) (2)
Balance at December 31, 2001 722,314 $724 $1,898 $1,008 $(1,833) $1,797
Net income 91 91
Translation adjustments(2) 234 234
Minimum pension liability, net of tax (279) (279)
Unrealized gain on securities 11
Net unrealized gains on cash flow hedges 6 6
Comprehensive income $ 53
Stock option and incentive plans 2,385 2 10 12
Xerox Canada exchangeable stock 44
Convertible securities 7,118 7 48 55
Cash dividends declared:
Preferred stock ($10.94 per share),
net of tax benefit (73) (73)
Equity for debt exchanges 6,412 6 45 51
Other (1) (1) (2)
Balance at December 31, 2002 738,273 $738 $2,001 $1,025 $(1,871) $1,893
1 As of December 31, 2002, Accumulated Other Comprehensive Loss is composed of cumulative translation adjustments of $(1,524), a minimum pension
liability of $(346) and cash flow hedging losses of $(1).
2 Includes reclassification adjustments for foreign currency translation losses of $59, that were realized in 2002 due to the sale of businesses. These amounts
were included in accumulated other comprehensive loss in prior periods as unrealized losses. Refer to Note 4 for further discussion.
The accompanying notes are an integral part of the consolidated financial statements.
Consolidated Statements of Common Shareholders’ Equity