This excerpt taken from the HPQ 8-K filed Nov 12, 2008.
NOTE 8: COMPREHENSIVE INCOME AND SHAREHOLDERS EQUITY
Comprehensive income was $151 million and $285 million for the three months ended June 30, 2008 and 2007, respectively. Comprehensive income was $293 million and $483 million for the six months ended June 30, 2008 and 2007, respectively. The difference between comprehensive income and net income for the three and six months ended June 30, 2008 and 2007 resulted primarily from foreign currency translation adjustments.
In December 2007, the Companys Board of Directors authorized the Company to repurchase up to $1 billion of its outstanding common stock over the next 18 months in open market purchases or privately negotiated transactions. In February 2008, the Company suspended the repurchase of shares under this authorization in light of our discussions with HP regarding the potential Merger. The Company does not expect to commence repurchases under this authorization while the Merger remains pending. During the six months ended June 30, 2008, the Company repurchased 11.5 million shares in the open market at a cost of $213 million in connection with this share repurchase authorization. In April 2007, the Company completed the $1 billion share repurchase program announced in February 2006. The Company purchased an aggregate of 37.6 million shares of common stock at a cost of $1 billion (excluding transaction costs) under this program.
In connection with its employee stock incentive plans, the Company issued 6.1 million shares of treasury stock at a cost of $178 million during the six months ended June 30, 2008. The difference between the cost and fair value at the date of issuance of such shares has been recognized as a charge to retained earnings of $55 million during the six months ended June 30, 2008.