Microsoft 2003 Annual Report Download - page 35

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Part II, Item 8
MSFT 2003 FORM 10-K
22 /
STOCKHOLDERS’ EQUITY STATEMENTS
(In millions)
Year Ended June 30 2001 2002 2003
Common stock and paid-in capital
Balance, beginning of year $23,195 $28,390 $31,647
Common stock issued 5,154 1,801 3,012
Common stock repurchased (394) (676) (691)
Repurchases of put warrants (1,367) –
–
Stock option income tax benefits 2,066 1,596 1,376
Other, net (264) 536
–
Balance, end of year 28,390 31,647 35,344
Retained earnings
Balance, beginning of year 18,173 18,899 20,533
Net income 7,346 7,829 9,993
Other comprehensive income:
Cumulative effect of accounting change (75) –
–
Net gains/(losses) on derivative instruments 634 (91) (102)
Net unrealized investment gains/(losses) (1,460) 5 1,243
Translation adjustments and other (39) 82 116
Comprehensive income 6,406 7,825 11,250
Common stock repurchased (5,680) (6,191) (5,250)
Common stock dividends – – (857)
Balance, end of year 18,899 20,533 25,676
Total stockholders’ equity $47,289 $52,180 $61,020
See accompanying notes.