Xerox 2004 Annual Report Download - page 43

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41
Consolidated Statements of Common Shareholders’ Equity
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, 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, net of tax 11
Unrealized gains on cash flow hedges, net of tax 6 6
Comprehensive income $53
Stock option and incentive plans, net 2,385 2 10 12
Convertible securities 7,118 7 48 55
Series B convertible preferred stock
dividends ($10.94 per share), net of tax (73) (73)
Equity for debt exchanges 6,412 6 45 51
Other 44 (1) (1) (2)
Balance at December 31, 2002 738,273 $738 $2,001 $1,025 $(1,871) $1,893
Net income 360 360
Translation adjustments 547 547
Minimum pension liability, net of tax 42 42
Unrealized gain on securities, net of tax 17 17
Unrealized gains on cash flowhedges, net of tax 2 2
Comprehensive income $968
Stock option and incentive plans, net 9,530 9 41 50
Common stock offering 46,000 46 405 451
Series B convertible preferred stock
dividends ($6.25 per share), net of tax (41) (41)
Series C mandatory convertible preferred
stock dividends ($3.23 per share) (30) (30)
Other 81 1 (2) 1 –
Balance at December 31, 2003 793,884 $794 $2,445 $1,315 $(1,263) $3,291
Net income 859 859
Translation adjustments 453 453
Minimum pension liability, net of tax 86 86
Unrealized gain on securities, net of tax 22
Realized gain on securities, net of tax (18) (18)
Unrealized gains on cash flowhedges, net of tax 22
Comprehensive income $1,384
Stock option and incentive plans, net 11,433 11 111 122
Series B convertible preferred stock conversion 37,040 37 446 483
Series B convertible preferred stock
dividends ($2.54 per share) (15) (15)
Series C mandatory convertible preferred
stock dividends ($6.25 per share) (58) (58)
Conversion of Liability to
Capital Trust II (Note 10) 113,415 113 922 1,035
Other 225 1 1 2
Balance at December 31, 2004 955,997 $956 $3,925 $2,101 $ (738) $6,244
(1) As of December 31, 2004, Accumulated Other Comprehensive Loss is composed of cumulative translation adjustments of $(524), unrealized gain on securities
of $1, minimum pension liabilities of $(218) and cash flow hedging gains of $3.
(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 18 for further discussion.
The accompanying notes are an integral part of the Consolidated Financial Statements.