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SYSTEMAX INC.
CONSOLIDATED STATEMENTS OF SHAREHOLDERS’ EQUITY
(in millions, except share data in thousands)
See notes to consolidated financial statements.
50
Table of Contents
Common Stock
Number
of Shares
Outstanding
Amount
Additional
Paid-in
Capital
Treasury
Stock,
At Cost
Retained
Earnings
Accumulated
Other
Comprehensive
Income (Loss)
Total
Equity
Balances, December 31, 2011
36,399
$
0.4
$
180.5
$
(30.5
)
$
307.9
$
(4.0
)
$
454.3
Stock
-
based compensation expense
4.1
4.1
Issuance of restricted stock
47
(0.5
)
0.6
0.1
Exercise of stock options
109
(1.0
)
1.3
0.3
Surrender of fully vested options
(0.7
)
(0.7
)
Income tax benefit on stock-based
compensation
0.6
0.6
Change in cumulative translation
adjustment
5.0
5.0
Dividends paid
(9.1
)
(9.1
)
Net loss
(8.3
)
(8.3
)
Balances, December 31, 2012
36,555
$
0.4
$
183.0
$
(28.6
)
$
290.5
$
1.0
446.3
Stock
-
based compensation expense
2.9
2.9
Issuance of restricted stock
140
(1.9
)
1.8
(0.1
)
Exercise of stock options
34
(0.3
)
0.4
0.1
Surrender of fully vested options and
restricted stock
(0.4
)
(0.4
)
Change in cumulative translation
adjustment
1.2
1.2
Net loss
(43.8
)
(43.8
)
Balances, December 31, 2013
36,729
$
0.4
$
183.3
$
(26.4
)
$
246.7
$
2.2
406.2
Stock
-
based compensation expense
1.5
1.5
Issuance of restricted stock
45
(0.3
)
0.6
0.3
Exercise of stock options
34
(0.1
)
0.4
0.3
Surrender of fully vested options
(0.1
)
(0.1
)
Change in cumulative translation
adjustment
(11.1
)
(11.1
)
Net loss
(37.5
)
(37.5
)
Balances, December 31, 2014
36,808
$
0.4
$
184.3
$
(25.4
)
$
209.2
$
(8.9
)
$
359.6