Western Union 2013 Annual Report Download - page 250

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2013 FORM 10-K
THE WESTERN UNION COMPANY
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
140
The Company realized total tax benefits during the years ended December 31, 2013, 2012 and 2011 from stock option exercises
of $1.3 million, $1.2 million and $4.8 million, respectively.
The total intrinsic value of stock options exercised during the years ended December 31, 2013, 2012 and 2011 was $4.2 million,
$5.1 million and $20.6 million, respectively.
Restricted Stock Activity
A summary of Western Union activity for restricted stock units and performance based restricted stock units for the year ended
December 31, 2013 is listed below (units in millions):
Year Ended December 31, 2013
Number
Outstanding
Weighted-Average
Grant-Date Fair Value
Non-vested as of January 1 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4.8 $ 17.38
Granted. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3.2 13.10
Vested. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (1.0) 15.63
Forfeited. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (0.7) 15.42
Non-vested as of December 31 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6.3 $ 15.69
Stock-Based Compensation
The following table sets forth the total impact on earnings for stock-based compensation expense recognized in the Consolidated
Statements of Income resulting from stock options, restricted stock units, performance based restricted stock units and bonus stock
units for the years ended December 31, 2013, 2012 and 2011 (in millions, except per share data).
Year Ended December 31,
2013 2012 2011
Stock-based compensation expense . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ (34.5) $ (34.0) $ (31.2)
Income tax benefit from stock-based compensation expense . . . . . . . . . . . . . . . . . . . . . . . . . 10.0 10.0 9.8
Net income impact. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ (24.5) $ (24.0) $ (21.4)
Earnings per share:
Basic and Diluted . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ (0.04) $ (0.04) $ (0.03)
As of December 31, 2013, there was $13.9 million of total unrecognized compensation cost, net of assumed forfeitures, related
to non-vested stock options which is expected to be recognized over a weighted-average period of 2.5 years, and there was $35.2
million of total unrecognized compensation cost, net of assumed forfeitures, related to non-vested restricted stock units and
performance based restricted stock units which is expected to be recognized over a weighted-average period of 1.8 years.