Cisco 2012 Annual Report Download - page 131

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(f) Stock Option Awards
A summary of the stock option activity is as follows (in millions, except per-share amounts):
STOCK OPTIONS OUTSTANDING
Number
Outstanding
Weighted-Average
Exercise Price per Share
BALANCE AT JULY 25, 2009 .................... 1,004 $24.29
Granted and assumed ............................ 15 13.23
Exercised ..................................... (158) 17.88
Canceled/forfeited/expired ........................ (129) 47.31
BALANCE AT JULY 31, 2010 .................... 732 21.39
Exercised ..................................... (80) 16.55
Canceled/forfeited/expired ........................ (31) 25.91
BALANCE AT JULY 30, 2011 ................... 621 21.79
Assumed from acquisitions ...................... 1 2.08
Exercised ..................................... (66) 13.51
Canceled/forfeited/expired ...................... (36) 23.40
BALANCE AT JULY 28, 2012 ................... 520 $22.68
The total pretax intrinsic value of stock options exercised during fiscal 2012, 2011, and 2010 was $333 million,
$312 million, and $1.0 billion, respectively.
The following table summarizes significant ranges of outstanding and exercisable stock options as of July 28,
2012 (in millions, except years and share prices):
STOCK OPTIONS OUTSTANDING STOCK OPTIONS EXERCISABLE
Range of Exercise Prices
Number
Outstanding
Weighted-
Average
Remaining
Contractual
Life
(in Years)
Weighted-
Average
Exercise
Price per
Share
Aggregate
Intrinsic
Value
Number
Exercisable
Weighted-
Average
Exercise
Price per
Share
Aggregate
Intrinsic
Value
$ 0.01 – 15.00 ............... 10 4.10 $ 6.95 $ 92 9 $ 7.18 $ 82
15.01 – 18.00 ............... 83 2.12 17.79 — 83 17.79 —
18.01 – 20.00 ............... 150 0.93 19.31 — 150 19.31 —
20.01 – 25.00 ............... 143 2.87 22.75 — 141 22.76 —
25.01 – 35.00 ............... 134 4.08 30.64 — 129 30.67 —
Total ................... 520 2.53 $22.68 $ 92 512 $22.65 $ 82
The aggregate intrinsic value in the preceding table represents the total pretax intrinsic value, based on the
Company’s closing stock price of $15.69 as of July 27, 2012, which would have been received by the option
holders had those option holders exercised their stock options as of that date. The total number of in-the-money
stock options exercisable as of July 28, 2012 was 10 million. As of July 30, 2011, 575 million outstanding stock
options were exercisable and the weighted-average exercise price was $21.37.
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