Intel 2012 Annual Report Download - page 91

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The following table summarizes information about options outstanding as of December 29, 2012:
Outstanding Options
Exercisable Options
Range of Exercise Prices
Number of
Shares
(In Millions)
Weighted
Average
Remaining
Contractual
Life
(In Years)
Weighted
Average
Exercise
Price
Number of
Shares
(In Millions)
Weighted
Average
Exercise
Price
$1.12–$15.00........................................................
3.6
4.0
$ 11.94
2.3
$ 11.75
$15.01–$20.00......................................................
125.1
2.9
$ 18.30
96.5
$ 18.37
$20.01–$25.00......................................................
50.3
3.6
$ 22.18
30.1
$ 22.14
$25.01–$30.00......................................................
23.3
4.1
$ 27.09
10.4
$ 26.97
$30.01–$33.03......................................................
0.5
0.9
$ 32.08
0.5
$ 32.08
Total.....................................................................
202.8
3.2
$ 20.20
139.8
$ 19.76
These options will expire if they are not exercised by specific dates through April 2021. Option exercise prices for options
exercised during the three-year period ended December 29, 2012 ranged from $0.33 to $28.15.
Stock Purchase Plan
Approximately 72% of our employees were participating in our stock purchase plan as of December 29, 2012 (70% in
2011 and 75% in 2010). Employees purchased 17.4 million shares in 2012 for $355 million under the 2006 Stock
Purchase Plan (18.5 million shares for $318 million in 2011 and 17.2 million shares for $281 million in 2010). As of
December 29, 2012, there was $13 million in unrecognized compensation costs related to rights to acquire common stock
under our stock purchase plan. We expect to recognize those costs over a period of approximately one and a half months.
Note 23: Common Stock Repurchases
Common Stock Repurchase Program
We have an ongoing authorization, since October 2005, as amended, from our Board of Directors to repurchase up to
$45 billion in shares of our common stock in open market or negotiated transactions. As of December 29, 2012,
$5.3 billion remained available for repurchase under the existing repurchase authorization limit. During 2012, we
repurchased 191.0 million shares of common stock at a cost of $4.8 billion (642.3 million shares of common stock at a
cost of $14.1 billion in 2011 and 70.3 million shares of common stock at a cost of $1.5 billion in 2010). We have
repurchased 4.3 billion shares at a cost of $89 billion since the program began in 1990.
Restricted Stock Unit Withholdings
We issue restricted stock units as part of our equity incentive plans. For the majority of restricted stock units granted, the
number of shares issued on the date the restricted stock units vest is net of the minimum statutory withholding
requirements that we pay in cash to the appropriate taxing authorities on behalf of our employees. During 2012, we
withheld 12.6 million shares to satisfy $345 million of employees’ tax obligations (10.3 million shares to satisfy $207
million during 2011 and 10.1 million shares to satisfy $236 million during 2010). Although shares withheld are not issued,
they are treated as common stock repurchases in our consolidated financial statements, as they reduce the number of
shares that would have been issued upon vesting.
Note 24: Earnings Per Share
We computed our basic and diluted earnings per common share as follows:
(In Millions, Except Per Share Amounts)
2012
2011
2010
Net income available to common stockholders ....................................................
$ 11,005
$ 12,942
$ 11,464
Weighted average common shares outstanding—basic......................................
4,996
5,256
5,555
Dilutive effect of employee equity incentive plans......................................................
100
101
89
Dilutive effect of convertible debt................................................................................
64
54
52
Weighted average common shares outstanding—diluted ...................................
5,160
5,411
5,696
Basic earnings per common share.........................................................................
$ 2.20
$ 2.46
$ 2.06
Diluted earnings per common share ......................................................................
$ 2.13
$ 2.39
$ 2.01