Lumber Liquidators 2009 Annual Report Download - page 60

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Lumber Liquidators Holdings, Inc.
Notes to Consolidated Financial Statements—(Continued)
(amounts in thousands, except share data and per share amounts)
Restricted Stock Awards
The following table summarizes activity related to restricted stock awards:
Shares
Weighted
Average Grant
Date Fair Value
Nonvested, December 31, 2006 .................................... — $ —
Granted .................................................. 88,830 8.95
Released .................................................. — —
Forfeited .................................................. (7,530) 8.95
Nonvested, December 31, 2007 .................................... 81,300 8.95
Granted .................................................. 97,092 13.49
Released .................................................. (34,184) 12.46
Forfeited .................................................. (11,435) 9.27
Nonvested, December 31, 2008 .................................... 132,773 11.33
Granted .................................................. 92,533 13.70
Released .................................................. (58,063) 13.33
Forfeited .................................................. (22,013) 10.06
Nonvested, December 31, 2009 .................................... 145,230 $12.19
The fair value of restricted stock awards released during the years ended December 31, 2009, 2008 and 2007 was $978,
$426 and $0, respectively. As of December 31, 2009, total unrecognized compensation cost related to unvested restricted
stock awards was approximately $510, net of estimated forfeitures, which is expected to be recognized over a weighted
average period of approximately 2.1 years.
NOTE 7. INCOME TAXES
The provision for income taxes consists of the following:
Year Ended December 31,
2009 2008 2007
Current
Federal ....................................................... $14,681 $12,955 $5,577
State ......................................................... 3,456 3,174 1,217
Total Current ...................................................... 18,137 16,129 6,794
Deferred
Federal ....................................................... (776) (390) 310
State ......................................................... (180) (96) 67
Total Deferred ..................................................... (956) (486) 377
Total Provision for Income Taxes ...................................... $17,181 $15,643 $7,171
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