LeapFrog 2010 Annual Report Download - page 80
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LEAPFROG ENTERPRISES, INC.
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
(In thousands, except per share data)
14. Comprehensive Net Income (Loss)
The Company’s comprehensive net income (loss) for the three years ended December 31, 2010, 2009 and 2008
was as follows:
Years Ended December 31,
2010 2009 2008
Net income (loss) ........................................... $4,945 $(2,688) $(68,354)
Currency translation adjustments ........................... 251 2,006 (6,689)
Temporary impairment gain (loss) on investments .............. (194) 435 598
Tax expense allocated to temporary gain (loss) on investments .... 77 (228) —
Comprehensive net income (loss) ...................... $5,079 $ (475) $(74,445)
15. Stockholders’ Equity
The Company is authorized to issue 180,000 shares of common stock at a par value of $0.0001 per share, of
which 139,500 shares are designated as Class A and 40,500 shares are designated as Class B. Class A shares
outstanding at December 31, 2010 and 2009 were 43,783 and 36,894, respectively. Class B shares outstanding at
December 31, 2010 and 2009 were 20,961 and 27,141, respectively.
Class A stockholders are entitled to one vote per share and Class B stockholders are entitled to ten votes per
share. The Class B stockholders have the right to convert their Class B shares into an equal number of Class A
shares. In 2010, 2009 and 2008, certain Class B stockholders elected to convert 6,179, 0 and 473 shares,
respectively, of their Class B common stock into the same number of shares of Class A common stock at par
value. The transactions had no impact on the Company’s financial statements and did not have an effect on our
status as a “controlled company” within the meaning of the NYSE corporate governance standards.
Class A and B stockholders are entitled to dividends paid in equal amounts per share on all shares of Class A and
Class B common stock. The terms of the Company’s asset-backed line of credit facility prohibit the payment of
cash dividends.
From the inception of the Company through the date of this report, no dividends have been declared or paid and
management has no plans at this time to pay dividends in the foreseeable future.
In the event of liquidation, Class A and B common stockholders are equally entitled to all assets of the Company
available for distribution.
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