Goldman Sachs 2013 Annual Report Download - page 216
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Notes to Consolidated Financial Statements
The table below presents the activity related to stock options.
Options
Outstanding Weighted Average
Exercise Price
Aggregate
Intrinsic Value
(in millions)
Weighted Average
Remaining Life
(years)
Outstanding, December 2012 43,217,111 $ 99.51 $1,672 5.55
Exercised (579,066) 112.43
Forfeited (71,865) 78.78
Expired (939) 96.08
Outstanding, December 2013 42,565,241 99.37 3,465 4.60
Exercisable, December 2013 42,565,241 99.37 3,465 4.60
The total intrinsic value of options exercised during
2013, 2012 and 2011 was $26 million, $151 million and
$143 million, respectively. The table below presents
options outstanding.
Exercise Price
Options
Outstanding
Weighted
Average
Exercise
Price
Weighted
Average
Remaining
Life
(years)
$ 75.00 - $ 89.99 34,002,081 $ 78.78 5.00
90.00 - 119.99 —— —
120.00 - 134.99 2,527,036 131.64 1.92
135.00 - 149.99 —— —
150.00 - 164.99 55,000 154.16 0.17
165.00 - 194.99 —— —
195.00 - 209.99 5,981,124 202.27 3.48
Outstanding, December 2013 42,565,241 99.37 4.60
As of December 2013, there was $475 million of total
unrecognized compensation cost related to non-vested
share-based compensation arrangements. This cost is
expected to be recognized over a weighted average period
of 1.54 years.
The table below presents the share-based compensation and
the related excess tax benefit/(provision).
Year Ended December
in millions 2013 2012 2011
Share-based compensation $2,039 $1,338 $2,843
Excess net tax benefit related to
options exercised 353 55
Excess net tax benefit/(provision) related to
share-based awards 194 (11) 138
1. Represents the net tax benefit/(provision) recognized in additional paid-in
capital on stock options exercised and the delivery of common stock
underlying share-based awards.
214 Goldman Sachs 2013 Annual Report