Xerox 2007 Annual Report Download - page 82

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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 January 1, 2005 ................... 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 ......................... – – – – – – 1 1
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
Net income . . . . . . . . ........................... – – – – – 1,135 – 1,135
Translation adjustments ....................... – – – – – – 501 501
Cumulative Effect of Change in Accounting
Principles (Refer to Note 1) . .................. – – – – – (9) – (9)
Changes in defined benefit plans (Refer to
Note 14)(2) ................................. – – – – – – 382 382
Other unrealized losses ........................ – – – – – – (1) (1)
Comprehensive income ....................... $ 2,008
Cash dividends declared .......................
Common stock ($0.0425 per share) ............. – – – – – (40) – (40)
Stock option and incentive plans, net . . . ......... 7,588 7 165 – – – – 172
Payments to acquire treasury stock ............. – – – (36,638) (632) – – (632)
Cancellation of treasury stock .................. (43,165) (43) (699) 43,165 742 – – –
Other . . . . . . . . . . . . . . .......................... 22 – – – – – – –
Balance at December 31, 2007 ................ 919,013 $920 $ 3,176 (1,836) $ (31) $5,288 $ (765) $ 8,588
(1) Refer to Note 1 “Accumulated Other Comprehensive Loss (AOCL)” for components of AOCL.
(2) Includes charge of $(5) for Fuji Xerox’s initial adoption of FAS No. 158 (Refer to Note 1).
The accompanying notes are an integral part of these Consolidated Financial Statements.
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