GE 2007 Annual Report Download - page 98

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    
96 ge 2007 annual report
OTHER STOCK-BASED COMPENSATION
Weighted
average
remaining Aggregate
contractual intrinsic
Shares term value
(In thousands) (In years) (In millions)
RSUs outstanding at
January 1, 2007 34,327
Granted 10,145
Vested (5,105)
Forfeited (2,238)
RSUs outstanding at
December 31, 2007 37,129 3.2 $1,376
RSUs expected to vest 33,723 3.1 $1,250
The fair value of each restricted stock unit is the market price of
our stock on the date of grant. The weighted average grant-date
fair value of RSUs granted during 2007, 2006 and 2005 amounted
to $38.48, $33.95 and $34.72, respectively. The total intrinsic
value of RSUs vested during 2007, 2006 and 2005 amounted to
$181 million, $132 million and $90 million, respectively. As of
December 31, 2007, there was $638 million of total unrecognized
compensation cost related to nonvested RSUs. That cost is
expected to be recognized over a weighted average period of
two years and two months. As of December 31, 2007, 1.3 million
PSUs with a weighted average remaining contractual term of two
years, an aggregate intrinsic value of $49 million and $14 million
of unrecognized compensation cost were outstanding.
Note 24
Supplemental Cash Flows Information
Changes in operating assets and liabilities are net of acquisitions
and dispositions of principal businesses.
Amounts reported in the “Payments for principal businesses
purchased” line in the Statement of Cash Flows is net of cash
acquired and included debt assumed and immediately repaid in
acquisitions.
Amounts reported in the “All other operating activities” line
in the Statement of Cash Flows consists primarily of adjustments
to current and noncurrent accruals and deferrals of costs and
expenses, adjustments for gains and losses on assets, increases
and decreases in assets held for sale and adjustments to assets.
There were no signifi cant non-cash transactions in 2007. Signifi cant
non-cash transactions in 2006 and 2005 include the following:
in 2006, in connection with our sale of GE Insurance Solutions,
Swiss Re assumed $1,700 million of debt, and GE received
$2,238 million of newly issued Swiss Re common stock. See note 2.
In 2005, NBC Universal acquired IAC/InterActiveCorp’s 5.44%
common interest in VUE for a total purchase price that included
$115 million of non-cash consideration, representing the fair value
of future services to be performed by NBC Universal.