Mindmeld, here's another clip.
Sorry 'bout the formatting.
This time from the 10-K from FY 2001, Table 24. Comprehensive income.
Note the magnitude of the equity financing stuff (shares issued for options, purchases,
tax benefits for options...) relative to retained earnings.
In '96 the former was about a third of total shareholder equity.
Both were about equal amounts by YE '98 (as you can see from below)
and the former just mushroomed during the bubble.
Common Stock Accumulated
and Other Total
Shares of Additional Retained Comprehensive Shareholders'
Common Stock Paid-In Capital Earnings Income (Loss) Equity
==========================================================================================================
BALANCE AT JULY 25, 1998 6,491 $ 3,339 $ 3,800 $ 58 $ 7,197
Net income -- -- 2,023 -- 2,023
Change in net unrealized gains on
investments -- -- -- 234 234
Other -- -- -- 6 6
--------
Comprehensive income -- -- -- -- 2,263
--------
Issuance of common stock 300 947 -- -- 947
Tax benefits from employee stock
option plans -- 837 -- -- 837
Pooling of interests acquisitions 4 38 (42) -- (4)
Purchase acquisitions 26 570 -- -- 570
Adjustment to conform fiscal year
ends of pooled acquisitions -- -- 1 -- 1
----------------------------------------------------------------------------------------------------------
BALANCE AT JULY 31, 1999 6,821 5,731 5,782 298 11,811
Net income -- -- 2,668 -- 2,668
Change in net unrealized gains on
investments -- -- -- 3,240 3,240
Other -- -- -- (8) (8)
--------
Comprehensive income -- -- -- -- 5,900
--------
Issuance of common stock 219 1,564 -- -- 1,564
Tax benefits from employee stock
option plans -- 3,077 -- -- 3,077
Pooling of interests acquisitions 20 75 (74) -- 1
Purchase acquisitions 78 4,162 -- -- 4,162
Adjustment to conform fiscal year
ends of pooled acquisitions -- -- (18) -- (18)
----------------------------------------------------------------------------------------------------------
BALANCE AT JULY 29, 2000 7,138 14,609 8,358 3,530 26,497
Net loss -- -- (1,014) -- (1,014)
Change in net unrealized gains on
investments -- -- -- (3,812) (3,812)
Other -- -- -- 7 7
--------
Comprehensive loss -- -- -- -- (4,819)
--------
Issuance of common stock 140 1,262 -- -- 1,262
Tax benefits from employee stock
option plans -- 1,755 -- -- 1,755
Purchase acquisitions 46 2,163 -- -- 2,163
Amortization of deferred
stock-based compensation -- 262 -- -- 262
----------------------------------------------------------------------------------------------------------
BALANCE AT JULY 28, 2001 7,324 $ 20,051 $ 7,344 $ (275) $ 27,120
==========================================================================================================
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