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SYSTEMAX INC.
CONSOLIDATED STATEMENTS OF SHAREHOLDERS’ EQUITY
(in thousands)
See notes to consolidated financial statements.
Table of Contents
Common Stock
Number
of Shares
Outstanding
Amount
Additional
Paid-in
Capital
Treasury
Stock,
At Cost
Retained
Earnings
Accumulated
Other
Comprehensive
Loss
Comprehensive
Income (Loss)
Balances, December 31, 2008
36,224
$
389
$
179,241
$
(31,158
)
$
192,401
$
(6,918
)
Stock
-
based compensation expense
2,818
Issuance of restricted stock
105
(754
)
1,183
Retired restricted stock
(10
)
(15
)
Exercise of stock options
221
(1,537
)
2,619
Repurchase of treasury stock
(99
)
(1,174
)
Income tax benefit on stock-based
compensation
750
Change in cumulative translation adjustment
8,276
$
8,276
Dividends paid
(27,611
)
Net income
46,185
46,185
Total comprehensive income
$
54,461
Balances, December 31, 2009
36,451
389
180,508
(28,545
)
210,975
1,358
Stock
-
based compensation expense
2,377
Issuance of restricted stock
106
(420
)
1,259
Restricted stock withheld for employee
taxes
(36
)
(367
)
(432
)
Exercise of stock options
234
(1,754
)
2,771
Income tax benefit on stock
-
based
compensation
1,175
Change in cumulative translation adjustment
(2,577
)
$
(2,577
)
Net income
42,551
42,551
Total comprehensive income
$
39,974
Balances, December 31, 2010
36,755
389
181,519
(24,947
)
253,526
(1,219
)
Stock
-
based compensation expense
1,795
Issuance of restricted stock
126
(1,371
)
1,507
Exercise of stock options
68
(527
)
810
Return of common stock
(550
)
(7,890
)
Surrender of fully vested options
(1,115
)
Income tax benefit on stock-based
compensation
237
Change in cumulative translation adjustment
(2,830
)
$
(2,830
)
Net income
54,408
54,408
Total comprehensive income
$
51,578
Balances, December 31, 2011
36,399
$
389
$
180,538
$
(30,520
)
$
307,934
$
(4,049
)
40