Shutterfly 2013 Annual Report Download - page 73

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SHUTTERFLY, INC.
CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY
(In thousands)
Year Ended December 31,
2013 2012 2011
Common stock (par value)
Balance, beginning of year ......................... $ 4 $ 4 $ 3
Issuance of common stock in connection with acquisition
and upon exercise of options and vesting of restricted
stock units ...................................111
Common stock repurchased and retired ............... (1) (1) —
Balance, end of year .............................444
Additional paid-in capital
Balance, beginning of year ......................... 652,110 589,067 263,726
Issuance of common stock upon exercise of options and
vesting of restricted stock units .................... 19,112 10,210 22,277
Stock based compensation, net of estimated forfeiture ..... 55,237 38,214 34,351
Issuance of common stock in connection with acquisition . . . — — 260,322
Tax benefit of stock options ........................ 2,957 14,619 8,391
Equity component of the convertible note issuance, net .... 62,409 — —
Purchase of convertible note hedge .................. (63,510) — —
Sale of warrants ................................ 43,560 — —
Balance, end of year ............................. 771,875 652,110 589,067
Accumulated earnings
Balance, beginning of year ......................... 39,172 19,926 5,878
Common stock repurchased and retired ............... (32,241) (3,752) —
Net income .................................... 9,285 22,998 14,048
Balance, end of year ............................. 16,216 39,172 19,926
Total stockholders’ equity ........................... $ 788,095 $ 691,286 $ 608,997
Number of shares
Common stock
Balance, beginning of year ......................... 36,358 34,839 27,957
Issuance of common stock upon exercise of options and
vesting of restricted stock units .................... 2,540 1,656 2,882
Common stock repurchased and retired ............... (702) (137) —
Issuance of common stock in connection with acquisition . . . — — 4,000
Balance, end of year ............................. 38,196 36,358 34,839
The accompanying notes are an integral part of these consolidated financial statements.
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