Honeywell 2008 Annual Report Download - page 116

(1) Average remaining contractual life in years.
There were 28,624,279 and 37,902,956 options exercisable at weighted average exercise prices of $41.14
and $40.16 at December 31, 2007 and 2006, respectively. There were 33,712,148 shares available for future
grants under the terms of our stock option plans at December 31, 2008.
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 2008, 2007 and 2006 was $76, $281 and $92 million,
respectively. During 2008, 2007 and 2006, the amount of cash received from the exercise of stock options was
$134, $592 and $385 million, respectively, with an associated tax benefit realized of $28, $101 and $31 million,
respectively. Consistent with the requirements of SFAS No. 123R, in 2008, 2007 and 2006 we classified $21, $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, 2008, there was $77 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 2.66 years. The total
fair value of options vested during 2008, 2007 and 2006 was $63, $83 and $70 million, respectively.
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