Alcoa 2012 Annual Report Download - page 143
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The activity for stock options was as follows (options in millions):
2012 2011 2010
Outstanding, beginning of year:
Number of options 46.8 56.1 65.5
Weighted average exercise price $17.41 $19.29 $24.44
Granted:
Number of options 10.5 4.5 9.0
Weighted average exercise price $10.17 $16.24 $13.52
Exercised:
Number of options (1.5) (4.3) (1.6)
Weighted average exercise price $ 8.28 $ 8.59 $ 8.34
Expired or forfeited:
Number of options (10.8) (9.5) (16.8)
Weighted average exercise price $31.83 $31.90 $37.21
Outstanding, end of year:
Number of options 45.0 46.8 56.1
Weighted average exercise price $12.58 $17.41 $19.29
Exercisable, end of year:
Number of options 29.8 28.8 30.2
Weighted average exercise price $13.02 $20.90 $26.91
The total intrinsic value of options exercised during 2012, 2011, and 2010 was $2, $34, and $8, respectively. In 2012,
2011, and 2010, the cash received from option exercises was $12, $37, and $13 and the total tax benefit realized from
these exercises was $1, $11, and $2, respectively.
The following tables summarize certain stock option information at December 31, 2012 (number of options and
intrinsic value in millions):
Options Fully Vested and/or Expected to Vest*
Range of
exercise price Number
Weighted
average
remaining
contractual
life
Weighted
average
exercise
price
Intrinsic
Value
$6.12 - $8.33 17.9 2.06 $ 8.33 $7
$8.34 - $11.33 10.3 8.93 10.17 -
$11.34 - $17.40 11.2 7.21 14.47 -
$17.41 - $46.77 5.6 0.26 26.96 -
Total 45.0 4.69 12.58 $7
* Expected forfeitures are immaterial to the Company and are not reflected in the table above.
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