SMITH INTERNATIONAL, INC.
CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY
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| 1996 ANNUAL REPORT |
| Treasury Securities | ||||||||||||
| Common Stock | Common Stock Warrants | Common Stock | Warrants | |||||||||
| For the Years Ended December 31,
1996, 1995 and 1994 (In thousands, except share and warrant data) |
Number of Shares | Amount | Number of Warrants | Amount | Additional Paid-in Capital |
Retained Earnings (Accumulated Deficit) |
Cumulative Translation Adjustments |
Number of Shares | Amount | Number of Warrants | Amount | |
| Balance, December 31, 1993 | 39,311,447 | $39,311 | 2,549,082 | $ 7,278 | $ 271,582 | $ (83,433) | $ (6,358) | (628,583) | $ (6,636) | (451,357) | $ (7,278) | |
| Exercise of stock options and stock grants | 97,495 | 98 | --- | --- | 722 | --- | --- | --- | --- | --- | --- | |
| Exercise of common stock warrants | 23,891 | 24 | (23,891) | --- | 179 | --- | --- | --- | --- | --- | --- | |
| Net income | --- | --- | --- | --- | --- | 35,879 | --- | --- | --- | --- | --- | |
| Translation adjustment for the period | --- | --- | --- | --- | --- | --- | 1,753 | --- | --- | --- | --- | |
| Balance, December 31, 1994 | 39,432,833 | $39,433 | 2,525,191 | $ 7,278 | $ 272,483 | $ (47,554) | $ (4,605) | (628,583) | $ (6,636) | (451,357) | $ (7,278) | |
| Exercise of stock options and stock grants | 230,940 | 230 | --- | --- | 1,908 | --- | --- | --- | --- | --- | --- | |
| Exercise of common stock warrants | 143,572 | 144 | (143,572) | --- | 1,041 | --- | --- | --- | --- | --- | --- | |
| Expiration of common stock warrants | --- | --- | (1,930,262) | --- | --- | --- | --- | --- | --- | --- | --- | |
| Net income | --- | --- | --- | --- | --- | 45,592 | --- | --- | --- | --- | --- | |
| Translation adjustment for the period | --- | --- | --- | --- | --- | --- | (1,150) | --- | --- | --- | --- | |
| Balance, December 31, 1995 | 39,807,345 | $39,807 | 451,357 | $7,278 | $ 275,432 | $ (1,962) | $ (5,755) | (628,583) | $ (6,636) | (451,357) | $ (7,278) | |
| Exercise of stock options and stock grants | 349,233 | 350 | --- | --- | 3,523 | --- | --- | --- | --- | --- | --- | |
| Expiration of common stock warrants | --- | --- | (451,357) | (7,278) | --- | --- | --- | --- | --- | 451,357 | 7,278 | |
| Purchases of treasury stock | --- | --- | --- | --- | --- | --- | --- | (27,271) | (1,066) | --- | --- | |
| Net income | --- | --- | --- | --- | --- | 64,444 | --- | --- | --- | --- | --- | |
| Translation adjustment for the period | --- | --- | --- | --- | --- | --- | 399 | --- | --- | --- | --- | |
| Balance, December 31, 1996 | 40,156,578 | $ 40,157 | --- | $ --- | $ 278,955 | $ 62,482 | $ (5,356) | (655,854) | $ (7,702) | --- | $ --- | |
The accompanying notes are an integral part of these financial statements.