Honeywell 2006 Annual Report Download - page 101
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There were 42,416,585 and 43,343,099 options exercisable at weighted average exercise prices of $40.01 and $40.36 at December
31, 2005 and 2004, respectively. There were 43,341,460 shares available for future grants under the terms of our stock option plans at
December 31, 2006.
The weighted average fair value of options granted in 2006 was $9.44. The total intrinsic value of options (which is the amount by
which the stock price exceeded the exercise price of the options on the date of exercise) exercised during 2006 was $92 million.
During 2006, the amount of cash received from the exercise of stock options was $385 million with an associated tax benefit realized
of $34 million. Consistent with the requirements of SFAS No. 123R, we classified $31 million of this benefit as a financing cash
inflow in the Consolidated Statement of Cash Flows, and the balance was classified as cash from operations.
At December 31, 2006, there was $90 million of total unrecognized compensation cost related to non-vested stock option awards
which is expected to be recognized over a weighted-average period of 1.59 years. The total fair value of options vested during 2006
was $70 million.
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