Xerox 2006 Annual Report Download - page 55

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XEROX CORPORATION
CONSOLIDATED STATEMENTS OF COMMON SHAREHOLDERS’ EQUITY
(in millions, except share data in thousands)
Common
Stock
Shares
Common
Stock
Amount
Additional
Paid-In-
Capital
Treasury
Stock
Shares
Treasury
Stock
Amount
Retained
Earnings
Accumulated
Other
Comprehensive
Loss(1) Total
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 ................... 86 86
Other unrealized gains ....................... 44
Other realized gains ......................... (18) (18)
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 subsidiary trust ........ 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
Net income ............................... 978 978
Translation adjustments ..................... (493) (493)
Minimum pension liability ................... (6) (6)
Other unrealized losses ...................... (3) (3)
Comprehensive income ..................... $ 476
Stock option and incentive plans, net ........... 5,548 6 84 90
Series C mandatory convertible preferred stock
dividends ($6.25 per share) ................. (58) (58)
Payments to acquire treasury stock ............. (30,502) (433) (433)
Cancellation of treasury stock ................. (16,585) (17) (213) 16,585 230 —
Other .................................... 146 —
Balance at December 31, 2005 ............... 945,106 $945 $ 3,796 (13,917) $ (203) $3,021 $(1,240) $ 6,319
Net income ............................... 1,210 1,210
Translation adjustments ..................... 485 485
Minimum pension liability ................... 131 131
Other unrealized gains ....................... 11
Comprehensive income ..................... $ 1,827
Adjustment to initially apply FAS No. 158, net
(Refer to Note 1) ......................... (1,024) (1,024)
Stock option and incentive plans, net ........... 10,256 11 156 167
Series C mandatory convertible preferred stock
dividends ($6.25 per share) ................. (29) (29)
Series C mandatory convertible preferred stock
conversion .............................. 74,797 75 814 889
Payments to acquire treasury stock ............. (70,111) (1,069) (1,069)
Cancellation of treasury stock ................. (75,665) (75) (1,056) 75,665 1,131 —
Other .................................... 74 —
Balance at December 31, 2006 ............... 954,568 $956 $ 3,710 (8,363) $ (141) $4,202 $(1,647) $ 7,080
(1) As of December 31, 2006, Accumulated other comprehensive loss is composed of cumulative translation adjustments of $(532), other unrealized
gains of $2, benefit plans net unfunded status of $(1,097) and Fuji Xerox’s minimum pension liabilities of $(20).
The accompanying notes are an integral part of these Consolidated Financial Statements.
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