CONSOLIDATED STATEMENTS OF COMMON SHAREHOLDERS’ EQUITY
|
(in millions, except share
data in thousands) |
Common
Stock Shares |
Common
Stock Amount |
Additional
Paid-In- Capital |
Treasury
Stock Shares |
Treasury
Stock Amount |
Retained
Earnings |
Accumulated
Other Comprehensive Loss (1) |
Total | ||||||||||||||||||||||
|
Balance at January 1, 2005 |
955,997 | $ | 956 | $ | 3,925 | – | $ | – | $ | 2,101 | $ | (738 | ) | $ | 6,244 | |||||||||||||||
|
Net income |
– | – | – | – | – | 978 | – | 978 | ||||||||||||||||||||||
|
Translation adjustments |
– | – | – | – | – | – | (493 | ) | (493 | ) | ||||||||||||||||||||
|
Minimum pension liability |
– | – | – | – | – | – | (6 | ) | (6 | ) | ||||||||||||||||||||
|
Other unrealized losses |
– | – | – | – | – | – | (3 | ) | (3 | ) | ||||||||||||||||||||
|
Comprehensive income |
$ | 476 | ||||||||||||||||||||||||||||
|
Stock option and incentive plans, net |
5,548 | 6 | 84 | – | – | – | – | 90 | ||||||||||||||||||||||
|
Series C mandatory convertible preferred stock dividends ($6.25 per share) |
– | – | – | – | – | (58 | ) | – | (58 | ) | ||||||||||||||||||||
|
Payments to acquire treasury stock |
– | – | – | (30,502 | ) | (433 | ) | – | – | (433 | ) | |||||||||||||||||||
|
Cancellation of treasury stock |
(16,585 | ) | (17 | ) | (213 | ) | 16,585 | 230 | – | – | – | |||||||||||||||||||
|
Other |
146 | – | – | – | – | – | – | – | ||||||||||||||||||||||
|
Balance at December 31, 2005 |
945,106 | $ | 945 | $ | 3,796 | (13,917 | ) | $ | (203 | ) | $ | 3,021 | $ | (1,240 | ) | $ | 6,319 | |||||||||||||
|
Net income |
– | – | – | – | – | 1,210 | – | 1,210 | ||||||||||||||||||||||
|
Translation adjustments |
– | – | – | – | – | – | 485 | 485 | ||||||||||||||||||||||
|
Minimum pension liability |
– | – | – | – | – | – | 131 | 131 | ||||||||||||||||||||||
|
Other unrealized gains |
– | – | – | – | – | – | 1 | 1 | ||||||||||||||||||||||
|
Comprehensive income |
$ | 1,827 | ||||||||||||||||||||||||||||
|
Adjustment to initially apply FAS No. 158, net (Refer to Note 1) |
– | – | – | – | – | – | (1,024 | ) | (1,024 | ) | ||||||||||||||||||||
|
Stock option and incentive plans, net |
10,256 | 11 | 156 | – | – | – | – | 167 | ||||||||||||||||||||||
|
Series C mandatory convertible preferred stock dividends ($6.25 per share) |
– | – | – | – | – | (29 | ) | – | (29 | ) | ||||||||||||||||||||
|
Series C mandatory convertible preferred stock conversion |
74,797 | 75 | 814 | – | – | – | – | 889 | ||||||||||||||||||||||
|
Payments to acquire treasury stock |
– | – | – | (70,111 | ) | (1,069 | ) | – | – | (1,069 | ) | |||||||||||||||||||
|
Cancellation of treasury stock |
(75,665 | ) | (75 | ) | (1,056 | ) | 75,665 | 1,131 | – | – | – | |||||||||||||||||||
|
Other |
74 | – | – | – | – | – | – | – | ||||||||||||||||||||||
|
Balance at December 31, 2006 |
954,568 | $ | 956 | $ | 3,710 | (8,363 | ) | $ | (141 | ) | $ | 4,202 | $ | (1,647 | ) | $ | 7,080 | |||||||||||||
|
Net income |
– | – | – | – | – | 1,135 | – | 1,135 | ||||||||||||||||||||||
|
Translation adjustments |
– | – | – | – | – | – | 501 | 501 | ||||||||||||||||||||||
|
Cumulative Effect of Change in Accounting Principles (Refer to Note 1) |
– | – | – | – | – | (9 | ) | – | (9 | ) | ||||||||||||||||||||
|
Changes in defined benefit plans
|
– | – | – | – | – | – | 382 | 382 | ||||||||||||||||||||||
|
Other unrealized losses |
– | – | – | – | – | – | (1 | ) | (1 | ) | ||||||||||||||||||||
|
Comprehensive income |
$ | 2,008 | ||||||||||||||||||||||||||||
|
Cash dividends declared |
||||||||||||||||||||||||||||||
|
Common stock ($0.0425 per share) |
– | – | – | – | – | (40 | ) | – | (40 | ) | ||||||||||||||||||||
|
Stock option and incentive plans, net |
7,588 | 7 | 165 | – | – | – | – | 172 | ||||||||||||||||||||||
|
Payments to acquire treasury stock |
– | – | – | (36,638 | ) | (632 | ) | – | – | (632 | ) | |||||||||||||||||||
|
Cancellation of treasury stock |
(43,165 | ) | (43 | ) | (699 | ) | 43,165 | 742 | – | – | – | |||||||||||||||||||
|
Other |
22 | – | – | – | – | – | – | – | ||||||||||||||||||||||
|
Balance at December 31, 2007 |
919,013 | $ | 920 | $ | 3,176 | (1,836 | ) | $ | (31 | ) | $ | 5,288 | $ | (765 | ) | $ | 8,588 | |||||||||||||
| (1) Refer to Note 1 “Accumulated Other Comprehensive Loss (AOCL)” for components of AOCL. |
| (2) Includes charge of $(5) for Fuji Xerox’s initial adoption of FAS No. 158 (Refer to Note 1). |
The accompanying notes are an integral part of these Consolidated Financial Statements.
