Honeywell 2007 Annual Report Download - page 113
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41,397,369 5.73 41.88 $ 822 28,624,279 41.14 $ 592
(1) Average remaining contractual life in years.
There were 37,902,956 and 42,416,585 options exercisable at weighted average exercise prices of $40.16
and $40.01 at December 31, 2006 and 2005, respectively. There were 38,279,009 shares available for future
grants under the terms of our stock option plans at December 31, 2007.
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 2007 and 2006 was $281 and $92 million, respectively.
During 2007 and 2006, the amount of cash received from the exercise of stock options was $592 and $385
million, respectively, with an associated tax benefit realized of $101 and $31 million, respectively. Consistent with
the requirements of SFAS No. 123R, in 2007 and 2006 we classified $86 and $31 million, respectively, 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, 2007, there was $73 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 2.18 years. The total
fair value of options vested during 2007 and 2006 was $83 and $70 million, respectively.
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