Dillard's 2009 Annual Report Download - page 72

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NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
13. Stock-Based Compensation (Continued)
Stock option transactions are summarized as follows:
Fiscal 2009
Weighted
Average
Fixed Options Shares Exercise Price
Outstanding, beginning of year .................... 5,261,375 $25.92
Granted ..................................... — —
Exercised .................................... — —
Expired ..................................... (1,217,006) 26.36
Outstanding, end of year ......................... 4,044,369 $25.79
Options exercisable at year-end .................... 4,044,369 $25.79
Weighted-average fair value of options granted during the
year ...................................... $ —
The following table summarizes information about stock options outstanding at January 30, 2010:
Options Outstanding Options Exercisable
Weighted-Average
Range of Options Remaining Weighted-Average Options Weighted-Average
Exercise Prices Outstanding Contractual Life (Yrs.) Exercise Price Exercisable Exercise Price
$24.73 - $24.73 ....... 23,781 1.31 $24.73 23,781 $24.73
$25.74 - $25.74 ....... 3,670,000 5.98 25.74 3,670,000 25.74
$25.95 - $26.57 ....... 350,588 1.31 26.34 350,588 26.34
4,044,369 5.55 $25.79 4,044,369 $25.79
At January 30, 2010, the intrinsic value of outstanding stock options and exercisable stock options
was $0.
14. Leases and Commitments
Rental expense consists of the following:
Fiscal Fiscal Fiscal
(in thousands of dollars) 2009 2008 2007
Operating leases:
Buildings:
Minimum rentals ........................ $21,876 $23,529 $25,798
Contingent rentals ....................... 2,772 4,264 5,997
Equipment ............................... 33,715 33,688 28,192
$58,363 $61,481 $59,987
Contingent rentals on certain leases are based on a percentage of annual sales in excess of
specified amounts. Other contingent rentals are based entirely on a percentage of sales.
F-27