Dick's Sporting Goods 2006 Annual Report Download - page 59

Download and view the complete annual report

Please find page 59 of the 2006 Dick's Sporting Goods annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 70

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70

Additional information regarding options outstanding as of February 3, 2007, is as follows:
Options Outstanding Options Exercisable
Weighted
Average
Remaining Weighted Weighted
Contractual Average Average
Range of Exercise Prices Shares Life (Years) Exercise Price Shares Exercise Price
$1.08 – $2.17 821,832 3.33 $ 1.97 821,832 $ 1.97
$6.00 – $10.48 2,970,288 5.72 6.35 2,970,288 6.35
$15.29–$22.87 2,378,120 6.721.86 514,601 18.36
$25.07–$34.68 1,379,702 7.05 25.82 1,010,745 25.45
$35.95–$55.19 2,266,472 8.73 37.86 209,718 35.97
$1.08 – $55.19 9,816,414 6.64$ 19.76 5,527,184 $11.43
Employee Stock Purchase Plan – The Company has an employee stock purchase plan, which provides that eligible employees
may purchase shares of the Company’s common stock. There are two offering periods in a fiscal year, one ending on June 30 and
the other on December 31, or as otherwise determined by the Company’s compensation committee. The employee’s purchase
price is 85% of the lesser of the fair market value of the stock on the first business day or the last business day of the semi-annual
offering period. Employees may purchase shares having a fair market value of up to $25,000 for all purchases ending within the
same calendar year. The total number of shares issuable under the plan is 2,310,000. There were 122,982 and 125,989 shares
issued under the plan during fiscal 2006 and 2005, respectively, leaving 817,895 shares available for future issuance. The fiscal 2006
shares were issued at an average price of $30.39.
Common Stock, Class B Common Stock and Preferred Stock – During fiscal 2002, the Company amended its corporate charter to,
among other things, provide for the authorization of the issuance of up to 100,000,000 shares of common stock, 20,000,000 shares
of Class B common stock, and 5,000,000 shares of preferred stock.
The holders of common stock generally have rights identical to holders of Class B common stock, except that holders of common
stock are entitled to one vote per share and holders of Class B common stock are entitled to ten votes per share. A related party
and relatives of the related party hold all of the Class B common stock. These shares can only be held by members of this group
and are not publicly tradable. Class B common stock can be converted to common stock at the holder’s option.
During fiscal 2004, the Company filed an amendment to its Amended and Restated Certificate of Incorporation to increase the
number of authorized shares of our common stock, par value $0.01 per share from 100,000,000 to 200,000,000 and Class B
common stock, par value $0.01 per share from 20,000,000 to 40,000,000.
10. Income Taxes
The components of the provision for income taxes are as follows:
2006 2005 2004
(In thousands)
Current:
Federal $62,573 $41,961 $ 22,645
State 11,247 7,295 7,280
73,820 49,256 29,925
Deferred:
Federal 631 (928) 15,603
State 623 326 408
1,254 (602) 16,011
Total provision $ 75,074 $48,654 $ 45,936
57