Aarons 2000 Annual Report Download - page 25

Download and view the complete annual report

Please find page 25 of the 2000 Aarons annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 32

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32

23
Notes to Consolidated
Financial Statements
For purposes of pro forma disclosures, the estimated fair value of the options is amortized to expense
over the options’ vesting period. The Company’s pro forma information follows:
Years Ended December 31,
(In Thousands Except Per Share) 2000 1999 1998
Pro Forma Net Earnings $25,910 $24,424 $20,076
Pro Forma Earnings Per Share 1.31 1.22 .99
Pro Forma Earnings Per Share
Assuming Dilution 1.30 1.20 .97
The table below summarizes option activity for the periods indicated in the Company’s stock
option plans.
Weighted
Average
Exercise
(In Thousands Except Per Share) Options Price
Outstanding at December 31, 1997 1,585 $10.07
Granted 133 16.73
Exercised (235) 6.53
Forfeited (101) 15.47
Outstanding at December 31, 1998 1,382 10.92
Granted 230 16.74
Exercised (233) 7.91
Forfeited (77) 16.33
Outstanding at December 31, 1999 1,302 12.17
Granted 405 13.73
Exercised (235) 8.22
Forfeited (95) 16.18
Outstanding at December 31, 2000 1,377 13.02
Exercisable at December 31, 2000 726 $11.38
The following table summarizes information about stock options outstanding at December 31, 2000.
Options Outstanding Options Exercisable
Weighted Average Weighted Weighted
Number Remaining Average Number Average
Outstanding Contractual Exercise Exercisable Exercise
Range of Exercise Prices December 31, 2000 Life Price December 31, 2000 Price
$ 9.87 – $10.00 544,500 5.27 years $ 9.88 544,500 $ 9.88
10.01 – 15.00 449,500 9.18 years 13.49
15.01 – 20.25 383,250 8.16 years 16.94 182,000 15.94
$ 9.87 – $20.25 1,377,250 7.19 years $13.02 726,500 $11.38