Graco 2005 Annual Report Download - page 65

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Options outstanding and exercisable as of December 31, 2005 are as follows (in millions, except
exercise prices):
Options Outstanding Options Exercisable
Weighted Weighted
Range of Number Average Remaining Number Average Remaining
Exercise Prices Outstanding Exercise Price Contractual Life Exercisable Exercise Price Contractual Life
$19.00 Ó $24.99 ÏÏÏÏÏ 7.4 $23 8.0 1.9 $23 6.1
$25.00 Ó $29.99 ÏÏÏÏÏ 3.1 28 6.2 1.9 28 5.6
$30.00 Ó $34.99 ÏÏÏÏÏ 1.4 32 5.1 1.0 32 4.3
$35.00 Ó $50.00 ÏÏÏÏÏ 1.3 38 4.5 1.0 38 4.0
$19.00 Ó $50.00 ÏÏÏÏÏ 13.2 $27 6.9 5.8 $29 5.3
The Company also grants restricted stock awards to directors and certain employees. Generally, these
awards are subject to three-year cliÅ vesting and pay dividends quarterly. As of December 31, 2005 and
2004, the Company had outstanding restricted stock awards of 1.0 million shares and 0.4 million shares,
respectively, none of which are vested. Total compensation expense of $5.7 million and $2.8 million was
recorded in 2005 and 2004, respectively related to the restricted shares.
FOOTNOTE 17
Income Taxes
The provision for income taxes consists of the following as of December 31, (in millions):
2005 2004 2003
Current:
Federal ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ $ 27.3 $(15.0) $ 8.3
State ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 5.5 5.6 1.6
Foreign ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 53.6 35.7 33.6
86.4 26.3 43.5
Deferred ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ (24.7) 77.7 76.3
$ 61.7 $104.0 $119.8
The non-U.S. component of income from continuing operations before income taxes was
$151.7 million in 2005, ($167.4) million in 2004 and $53.0 million in 2003.
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