Airtran 2000 Annual Report Download - page 46

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The weighted average fair value of options granted during 2000, 1999, and 1998, with option prices equal to the market price on the date of grant, was
$2.45, $2.07 and $7.98, respectively. There were no options granted during 2000, 1999, and 1998, with option prices less than the market price of the stock
on the date of grant.
At December 31, 2000, we had reserved a total of 11,982,990 shares of common stock for future issuance, upon exercise of stock options.
9. Income Taxes
Our provision for income taxes for the years ended December 31, 2000, 1999, and 1998 was $0, $2.7 million and $0, respectively. The components of our
provision for income taxes is as follows (in thousands):
2000 1999 1998
Current provision:
Federal $– $ 352 $–
State –––
Total current provision –352 –
Deferred provision:
Federal –2,010 –
State –377 –
Total deferred provision –2,387 –
Provision for income taxes $– $2,739 $–
A reconciliation of taxes computed at the statutory federal tax rate on income (loss) before income taxes to the provision for income taxes is as follows
(in thousands):
2000 1999 1998
Tax computed at federal statutory rate $ 16,603 $(33,829) $(14,258)
State income tax (benefit), net of federal tax benefit 1,469 (3,089) (606)
Goodwill 483 517 7,705
Alternative minimum tax –909 –
Benefit of preacquisition net operating loss carryforwards –2,387 –
Other 54 (434) (110)
Valuation reserve, including the effect of changes to prior year deferred tax assets (18,609) 36,278 7,269
$– $ 2,739 $–