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31
CDW CORPORATION AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF SHAREHOLDERS’ EQUITY
(in thousands)
Total
Shareholders’
Equity
Common
Shares
Paid-in
Capital
Retained
Earnings
Unearned
Compensation
Treasury
Shares
Accumulated
Other
Comprehensive
Income
Comprehensive
Income
Balance at December 31, 2000 $ 636,251 $ 875 $ 185,054 $ 452,613 $ (202) $ (2,089) -
MPK Restricted Stock Plan forfeitures - - (2) - 2 - -
Amortization of unearned
compensation 1,932 - - - 1,932 - -
Compensatory stock option grants 2,741 - 2,741 - - - -
Compensatory restricted stock grant - 1 3,662 - (3,663) - -
Exercise of stock options 9,136 9 9,127 - - - -
Tax benefit from stock option and
restricted stock transactions 58,126 - 58,126 - - - -
Purchase of treasury shares (98,215) - - - - (98,215) -
Net income 168,686 - - 168,686 - - -
Balance at December 31, 2001 778,657 885 258,708 621,299 (1,931) (100,304) -
MPK Restricted Stock Plan forfeitures - - (22) - 22 - -
Amortization of unearned
compensation 1,072 - - - 1,072 - -
Exercise of stock options 17,837 12 17,825 - - - -
Tax benefit from stock option and
restricted stock transactions 69,543 - 69,543 - - - -
Purchase of treasury shares (128,291) - - - - (128,291) -
Net income 185,249 - - 185,249 - - - $ 185,249
Net unrealized gains on marketable
securities 3 - - - - - 3 3
Comprehensive income $ 185,252
Balance at December 31, 2002 924,070 897 346,054 806,548 (837) (228,595) 3
Amortization of unearned
compensation 568 - - - 568 - -
Exercise of stock options 22,878 11 22,867 - - - -
Issuance of common stock in
connection with Employee Stock
Purchase Plan 3,014 1 3,013 - - - -
Tax benefit from stock option and
restricted stock transactions 36,479 - 36,479 - - - -
Purchase of treasury shares (76,324) - - - - (76,324) -
Cash dividends (24,867) - - (24,867) - - -
Net income 175,186 - - 175,186 - - - $ 175,186
Net unrealized (losses) on marketable
securities (3) - - - - - (3) (3)
Foreign currency translation
adjustment 183 - - - - - 183 183
Comprehensive income $ 175,366
Balance at December 31, 2003 $ 1,061,184 $ 909 $ 408,413 $ 956,867 $ (269) $ (304,919) $ 183
The accompanying notes are an integral part of the consolidated financial statements.