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Table of Contents
Index to Financial Statements
E*TRADE FINANCIAL CORPORATION AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF SHAREHOLDERS’ EQUITY—(Continued)
(in thousands)
Preferred Stock
Shares Exchangeable into
Common Stock
Common Stock
Additional
Paid-in-
Capital
Shareholders’
Notes
Receivable
Deferred Stock
Compensation
Retained
Earnings
(Deficit)
Accumulated
Other
Comprehensive
Loss
Total
Shareholders’
Equity
Shares
Amount
Shares
Amount
Shares
Amount
Balance, December
31, 2002
—
$ —
1,627
$
16
358,044
$
3,580
$
2,190,200
$ —
$ (
23,058
)
$
(433,492
)
$
(231,457
)
$
1,505,789
Net income
203,027
203,027
Other comprehensive
income
141,480
141,480
Exercise of stock
options and
warrants,
including tax
benefit
8,543
85
58,917
59,002
Employee stock
purchase plan
1,572
16
5,908
5,924
Adjustment related to
change in original
option grants
954
954
Cancellation of
unvested
restricted stock
(3,447
)
(34
)
(21,271
)
21,305
—
Issuance of restricted
stock
1,733
17
13,491
(13,408
)
100
Amortization of
deferred stock
compensation, net
of cancellations
and retirements
(50
)
(269
)
2,287
2,018
Conversion of
Exchangeable
Shares to
common stock
(241
)
(2
)
241
2
—
Balance, December
31, 2003
—
—
1,386
14
366,636
3,666
2,247,930
—
(
12,874
)
(230,465
)
(89,977
)
1,918,294
Net income
380,483
380,483
Other comprehensive
loss
(51,222
)
(51,222
)
Exercise of stock
options and
purchase plans,
including tax
benefit
6,757
68
57,686
57,754
Employee stock
purchase plan
1,443
14
8,640
8,654
Adjustment related to
change in original
option grants
224
224
Repurchases of
common stock
(13,664
)
(137
)
(175,639
)
(175,776
)
Cancellation of
restricted stock
(113
)
(1
)
(858
)
859
—
Issuance of restricted
stock
908
9
11,149
(11,058
)
100
Shares issued upon
debt conversion
7,438
74
79,889
79,963
Amortization of
deferred stock
compensation, net
of cancellations
and retirements
(25
)
(325
)
4,654
4,329
Conversion of
Exchangeable
Shares to
common stock
(83
)
(1
)
83
1
—
Other
161
2
5,397
5,399
Balance, December
31, 2004
—
$
—
1,303
$
13
369,624
$
3,696
$
2,234,093
$
—
$
(
18,419
)
$
150,018
$
(141,199
)
$
2,228,202