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## Consolidated Statements of Changes in Stockholders’ Equity 

Years ended December 31, 2002, 2001 and 2000 

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ADTRAN ™ issued 187,750 shares, 37,956 shares, and 315,314 shares of treasury stock to accommodate employee stock option exercises during 2002, 2001 and 2000, respectively. 

Comprehensive income in 2002 of $18,498,242 consists of net income of $24,775,962 and unrealized losses on marketable securties of $6,277,720 (net of deferred tax). 

Comprehensive income in 2001 of $6,832,630 consists of net income of $17,328,529 and unrealized losses on marketable securities of $10,495,899 (net of deferred tax). 

Comprehensive income in 2000 of $24,672,549 consists of net income of $120,802,261 and unrealized losses on marketable securities of $96,129,712 (net of deferred tax). 

The accompanying notes are an integral part of these consolidated financial statements. 

