Consolidated Statements of Stockholders’ Equity and Comprehensive Income Accumulated other  Total compre- Compre- Stockholders’ Common Capital hensive Retained Treasury hensive (In thousands) equity stock Warrants surplus loss (1) earnings stock income Balance, December 31, 1997 $ 95,323 $ 96 $ 2,154 $ 87,107 $ (195) $ 6,161 $ – Net income 12,315 – – – – 12,315 – $ 12,315 Foreign currency translation adjustments (1,627) – – – (1,627) – – (1,627) Comprehensive income – – – – – – – $ 10,688 Provision in lieu of income taxes, net of benefit of extraordinary item of $3,381 4,770 – – 4,770 – – – Issuance of common stock 22,485 11 – 22,474 – – – Common stock issued under stock option plans 518 2 – 516 – – – Treasury stock, at cost (13,968) – – – – – (13,968) Balance, December 31, 1998 119,816 109 2,154 114,867 (1,822) 18,476 (13,968) Net income 27,821 – – – – 27,821 – $ 27,821 Foreign currency translation adjustments (401) – – – (401) – – (401) Comprehensive income – – – – – – – $ 27,420 Provision in lieu of income taxes 15,645 – – 15,645 – – – Common stock issued pursuant to warrants exercised 10,015 7 (1,190) 11,198 – – – Value of expired warrants – – (964) 964 – – – Common stock issued under stock option plans 221 1 – 220 – – – Treasury stock, at cost (2,868) – – – – – (2,868) Balance, December 31, 1999 170,249 117 – 142,894 (2,223) 46,297 (16,836) Net income 40,089 – – – – 40,089 – $ 40,089 Foreign currency translation adjustments (1,683) – – – (1,683) – – (1,683) Comprehensive income – – – – – – – $ 38,406 Provision in lieu of income taxes 24,422 – – 24,422 – – – Common stock issued under stock option plans 426 – – 426 – – – Treasury stock, at cost – – – – – – – Balance, December 31, 2000 $ 233,503 $ 117 – $ 167,742 $ (3,906) $ 86,386 $ (16,836) (1) Represents cumulative foreign currency translation adjustments. The accompanying notes to consolidated financial statements are an integral part of these statements. EMCOR, 2000 Annual Report 26