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Annual Report 1996


Consolidated Statement of Changes in Common Stockholders' Equity
Polaroid Corporation and Subsidiary Companies
 

Years ended December 31,

(In millions, except number of shares)

1996

1995

1994


Common stock      
Balance at January 1 (75,427,550 shares in 1996, 1995 and 1994)

$75.4

$75.4

$75.4

Balance at December 31

75.4

75.4

75.4

       
Additional paid-in capital      
Balance at January 1

401.9

387.2

385.6

Issuance of shares in connection with stock incentive plan (Note 10)

6.1

11.3

1.6

Stock options exercised - tax benefit

1.4

3.4

-

Balance at December 31

409.4

401.9

387.2

       
Retained earnings      
Balance at January 1

1,525.8

1,692.1

1,602.0

Net earnings/(loss)

(41.1)

(140.2)

117.2

Dividends declared - common stock

(27.3)

(27.3)

(27.9)

ESOP dividend tax benefit received on unallocated shares

.4

1.2

.8

Balance at December 31

1,457.8

1,525.8

1,692.1

       
Less:      
Treasury stock      
Balance at January 1 (29,894,724 shares in 1996, 29,429,928 shares in 1995, and 28,621,405 shares in 1994)

1,205.4

1,174.5

1,145.5

Repurchase of shares (1,057,565 shares in 1996, 1,217,561 shares in 1995, and 941,300 in 1994)

43.6

40.2

30.6

Issuance of shares in connection with stock incentive plan (344,129 shares in 1996, 752,765 shares in 1995, and 132,777 shares in 1994)

(4.2)

(9.3)

(1.6)

Balance at December 31 (30,608,160 shares in 1996, 29,894,724 shares in 1995, and 29,429,928 shares in 1994)

1,244.8

1,205.4

1,174.5

       
Deferred compensation      
Balance at January 1

80.0

115.8

150.2

Stock options - 1993 (Note 10)

(1.0)

(1.0)

(1.0)

Loan repayments from ESOP Trust

(39.7)

(35.9)

(33.4)

Restricted stock

.3

1.1

-

Balance at December 31

39.6

80.0

115.8

Total common stockholders' equity

$658.2

$717.7

$864.4

See accompanying notes to consolidated financial statements.




Polaroid Corporation Annual Report 1996
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