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48 |Office Depot 2004 Annual Report
OFFICE DEPOT, INC.
CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY
(In thousands, except share amounts)
Accumulated
Unamortized Other
Value of Compre-
Common Common Additional Long-Term hensive Compre-
Stock Stock Paid-in Incentive Income hensive Retained Treasury
Shares Amount Capital Stock Grant (Loss) Income Earnings Stock
Balance at December 29, 2001
(As Restated–See Note B) . . . . . . . 385,538,340 $3,855 $1,007,088 $(2,578) $ (71,273) $1,675,616 $(806,388)
Comprehensive income:
Net earnings . . . . . . . . . . . . . . . . . . $308,640 308,640
Foreign currency translation
adjustment . . . . . . . . . . . . . . . . . 72,438 72,438
Comprehensive income . . . . . . . . . $381,078
Acquisition of treasury stock . . . . . . . . (45,869)
Grant of long-term incentive stock . . . 15,000 1 218 (218)
Cancellation of long-term
incentive stock . . . . . . . . . . . . . . . . (73,524) (1) (549) 284
Exercise of stock options (including
income tax benefits) . . . . . . . . . . . . 8,195,441 82 108,478 (965)
Issuance of stock under employee
stock purchase plans . . . . . . . . . . . 139,773 1 1,097
Matching contributions under
401(k) and deferred
compensation plans . . . . . . . . . . . . 90,022 1 1,663
Direct Stock Purchase Plans . . . . . . . . 33 55
Amortization of long-term incentive
stock grant . . . . . . . . . . . . . . . . . . . 1,217
Balance at December 28, 2002
(As Restated—See Note B) . . . . . . 393,905,052 3,939 1,118,028 (1,295) 1,165 1,984,256 (853,167)
Comprehensive income:
Net earnings . . . . . . . . . . . . . . . . . . $273,515 273,515
Foreign currency translation
adjustment . . . . . . . . . . . . . . . . . 197,570 197,570
Proceeds from cash flow hedge,
net of amortization . . . . . . . . . . . 16,029 10,095
Comprehensive income . . . . . . . . . $481,180
Acquisition of treasury stock . . . . . . . . (50,064)
Grant of long-term incentive stock . . . 60,000 1 867 (867)
Cancellation of long-term
incentive stock . . . . . . . . . . . . . . . . (4,500) (75) 75
Exercise of stock options (including
income tax benefits) . . . . . . . . . . . . 4,850,481 48 57,710 (358)
Issuance of stock under employee
stock purchase plans . . . . . . . . . . . 11,709 (1,056)
Direct Stock Purchase Plans . . . . . . . . 23 52
Amortization of long-term incentive
stock grant . . . . . . . . . . . . . . . . . . . 725
Balance at December 27, 2003
(As Restated—See Note B) ...... 398,822,742 3,988 1,175,497 (1,362) 214,764 2,257,771 (903,537)
Comprehensive income:
Net earnings .................... $335,504 335,504
Foreign currency translation
adjustment ................... 126,603 126,603
Amortization of gain on
cash flow hedge . . . . . .......... (1,659) (1,045)
Comprehensive income . . . . . . . . . . . $461,062
Acquisition of treasury stock . . . . . . . . (65,578)
Grant of long-term incentive stock . . . 105,531 1 1,700 (1,700)
Cancellation of long-term
incentive stock . . . . . . . . . . . . . . . . (32,304) (186) 186
Exercise of stock options (including
income tax benefits) . . . . . . . . . . . . 6,029,546 60 81,695 (400)
Issuance of stock under employee
stock purchase plans . . . . . . . . . . . (1,114)
Direct Stock Purchase Plans . . . . . . . . 27 37
Amortization of long-term incentive
stock grant ................... 751
Balance at December 25, 2004 ..... 404,925,515 $4,049 $1,257,619 $(2,125) $ 339,708 $2,593,275 $(969,478)
The accompanying Notes to Consolidated Financial Statements are an integral part of these statements.