Abercrombie & Fitch 2010 Annual Report Download - page 73

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Table of Contents
ABERCROMBIE & FITCH CO.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (Continued)
2010 and the fifty-two weeks ended January 31, 2009, and the weighted-average assumptions used in calculating such fair value, on
the date of grant, were as follows:
Fiscal Year
Fiscal 2009 Fiscal 2008
Grant date market price $ 22.87 $ 67.63
Exercise price $ 22.87 $ 67.63
Fair value $ 8.26 $ 18.03
Assumptions:
Price volatility 50% 33%
Expected term (Years) 4.1 4.0
Risk-free interest rate 1.6% 2.3%
Dividend yield 1.7% 1.0%
Below is a summary of stock option activity for the fifty-two weeks ended January 29, 2011:
Aggregate Weighted-Average
Number of Weighted-Average Intrinsic Remaining
Stock Options Shares Exercise Price Value Contractual Life
Outstanding at January 30, 2010 2,969,861 $ 38.36
Granted — —
Exercised (539,863) 27.19
Forfeited or cancelled (113,350) 68.04
Outstanding at January 29, 2011 2,316,648 $ 39.51 $ 35,444,964 2.8
Stock options exercisable at January 29, 2011 2,101,035 $ 36.83 $ 34,201,294 2.4
Stock options expected to become exercisable at January 29, 2011 205,707 $ 66.14 $ 1,137,928 7.0
The total intrinsic value of stock options exercised during the fifty-two weeks ended January 29, 2011, January 30, 2010 and
January 31, 2009 was $10.7 million, $0.6 million and $40.3 million, respectively.
The grant date fair value of stock options vested during the fifty-two weeks ended January 29, 2011, January 30, 2010 and
January 31, 2009 was $4.0 million, $5.0 million and $5.1 million, respectively.
As of January 29, 2011, there was $1.8 million of total unrecognized compensation cost, net of estimated forfeitures, related to
stock options. The unrecognized compensation cost is expected to be recognized over a weighted-average period of 0.6 years.
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