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44
The following table summarizes the status of outstanding stock options as of December 31, 2004:
Options Outstanding Options Exercisable
Range of
Exercise Prices
Number of
Options
Outstanding
Weighted-
Average
Remaining
Contractual
Life (in
years)
Weighted-
Average
Exercise
Price
Number of
Options
Exercisable
Weighted-
Average
Exercise
Price
$ 0.003 - 0.01 203,548 16.2 $ 0.01 - $ -
$ 5.68 - 6.75 41,217 10.8 $ 6.54 41,217 $ 6.54
$ 10.00 - 14.83 1,750,154 12.5 $ 13.68 730,222 $ 13.82
$ 16.20 - 23.99 1,342,131 14.0 $ 23.98 403,328 $ 23.99
$ 24.31 - 34.52 1,525,887 14.3 $ 26.49 320,326 $ 28.59
$ 36.62 – 54.75 3,875,430 9.2 $ 39.93 1,495,776 $ 38.70
$ 54.97 – 68.00 1,983,169 8.5 $ 63.42 237,810 $ 55.83
$ 0.003 – 68.00 10,721,536 11.1 $ 35.19 3,228,679 $ 31.08
Had we elected to apply the provisions of SFAS 123 regarding recognition of compensation expense to the
extent of the calculated fair value of stock options, reported net income and earnings per share would have
been reduced as follows (in thousands, except per share amounts):
2004 2003 2002
Net income, as reported $ 241,445 $ 175,186 $ 185,249
Add stock-based employee compensation
expense included in reported net income,
net of related tax effects 190 344 649
Deduct total stock-based employee
compensation expense determined under
fair value based method for all awards,
net of related tax effects (26,795) (24,709) (26,123)
Pro forma net income $ 214,840 $ 150,821 $ 159,775
Basic earnings per share, as reported $ 2.90 $ 2.10 $ 2.18
Diluted earnings per share, as reported $ 2.79 $ 2.03 $ 2.10
Pro forma basic earnings per share $ 2.58 $ 1.81 $ 1.88
Pro forma diluted earnings per share $ 2.47 $ 1.75 $ 1.81