Microsoft 2004 Annual Report Download - page 38

Download and view the complete annual report

Please find page 38 of the 2004 Microsoft annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 65

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65

PAGE 38
STOCKHOLDERS’ EQUITY STATEMENTS
(In millions)
Year Ended June 30 2002
(1)
2003
(1)
2004
Common stock and paid-in capital
Balance, beginning of period $28,390 $41,845 $49,234
Cumulative SFAS 123 retroactive adjustments 6,560 –
–
Common stock issued 1,655 2,966 2,815
Common stock repurchased (676) (691) (416)
Stock-based compensation expense 3,784 3,749 5,734
Stock option income tax benefits/(deficiencies) 1,596 1,365 (989)
Other, net 536 –
18
Balance, end of period 41,845 49,234 56,396
Retained earnings
Balance, beginning of period 18,899 12,997 15,678
Cumulative SFAS 123 retroactive adjustments (5,062) – –
Net income 5,355 7,531 8,168
Other comprehensive income:
Net gains/(losses) on derivative instruments (91) (102) 101
Net unrealized investments gains/(losses) 5 1,243 (873)
Translation adjustments and other 82 116 51
Comprehensive income 5,351 8,788 7,447
Common stock dividend – (857) (1,729)
Common stock repurchased (6,191) (5,250) (2,967)
Balance, end of period 12,997 15,678 18,429
Total stockholders’ equity $54,842 $64,912 $74,825
(1) June 30, 2002 and 2003 stockholders’ equity statements have been restated for retroactive adoption of the fair value
recognition provisions of SFAS 123, Accounting for Stock-Based Compensation, as discussed in Note 13.
See accompanying notes.