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XEROX CORPORATION
CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY
(in millions)
Common
Stock
Additional
Paid-in
Capital
Treasury
Stock
Retained
Earnings AOCL(3)
Xerox
Shareholders’
Equity
Non-
controlling
Interests
Tot al
Equity
Balance at December 31, 2012 $1,239 $5,622 $(104)$ 7,991 $ (3,227) $ 11,521 $143 $11,664
Comprehensive income, net — — — 1,159 448 1,607 19 1,626
Cash dividends declared-common(1) ———
(287)— (287)—
(287)
Cash dividends declared-preferred(2) ———
(24)— (24)—
(24)
Conversion of notes to common stock 1 8 — — — 9—9
Stock option and incentive plans, net 28 142 — — — 170 —170
Payments to acquire treasury stock,
including fees — — (696)—— (696)—
(696)
Cancellation of treasury stock (58) (490)548 —— — — —
Distributions to noncontrolling interests — — — — — — (43)(43)
Balance at December 31, 2013 $1,210 $5,282 $(252)$ 8,839 $ (2,779) $ 12,300 $119 $12,419
Comprehensive income (loss), net — — — 1,013 (1,380) (367)22
(345)
Cash dividends declared-common(1) ———
(293)— (293)—
(293)
Cash dividends declared-preferred(2) ———
(24)— (24)—
(24)
Conversion of notes to common stock 1 8 — — — 9—9
Stock option and incentive plans, net 14 110 — — — 124 —124
Payments to acquire treasury stock,
including fees — — (1,071) — — (1,071) — (1,071)
Cancellation of treasury stock (101) (1,117) 1,218 —— — — —
Distributions to noncontrolling interests — — — — — — (66)(66)
Balance at December 31, 2014 $1,124 $4,283 $(105)$ 9,535 $ (4,159) $ 10,678 $75$
10,753
Comprehensive income (loss), net — — — 474 (483) (9) 17 8
Cash dividends declared-common(1) ———
(299)— (299)—
(299)
Cash dividends declared-preferred(2) ———
(24)— (24)—
(24)
Stock option and incentive plans, net 11 19 ——— 30 —30
Payments to acquire treasury stock,
including fees — — (1,302) — — (1,302) — (1,302)
Cancellation of treasury stock (122) (1,285) 1,407 —— — — —
Distributions to noncontrolling interests — — — — — — (49)(49)
Balance at December 31, 2015 $1,013 $3,017 $—$
9,686 $ (4,642) $ 9,074 $43$
9,117
__________
(1) Cash dividends declared on common stock of $0.0700 in each quarter of 2015, $0.0625 in each quarter of 2014 and $0.0575 in each quarter
of 2013.
(2) Cash dividends declared on preferred stock of $20 per share in each quarter of 2015, 2014 and 2013.
(3) AOCL - Accumulated other comprehensive loss.
The accompanying notes are an integral part of these Consolidated Financial Statements.
69