Stock-Based Compensation Question

I am working on financing modeling and running into an issue with a particular company. In short, stock-based compensation on the CFS is around $200MM, however, on the Statement of Equity it's reported as almost double that amount and I'm having trouble reconciling the difference. Can you think of a reason why this would be the case?

I know we should be adding back stock-based compensation from the CFS to get to EBITDA. I know modeling out common equity is beginning period + stock based compensation - repurchases of stock to get to ending period common equity. However, when looking at previous years common equity, the balance doesn't grow by the $200MM amount on the CFS but rather the $400MM amount in the shareholder's equity, which makes sense given that's what the Statement of Equity is meant to reflect.

So should I be projecting stock-based compensation forward looking off of number in the Statement of Equity instead of the one on the Cash Flow Statement and use that to adjust Common Equity going forward? Also, if someone could help me understand the discrepency, that'd be helpful.

 

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