ADP 2013 Annual Report Download - page 65

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As of June 30, 2013 , the total remaining unrecognized compensation cost related to non-vested stock options, restricted stock units, and
restricted stock awards amounted to $9.7 million , $18.2 million , and $63.8 million , respectively, which will be amortized over the weighted-
average remaining requisite service periods of 2.0 years , 1.3 years , and 1.4 years , respectively.
In fiscal 2013 , the following activity occurred under the Company’s existing plans:
Stock Options:
Time-Based Restricted Stock and Time-Based Restricted Stock Units:
Performance-Based Restricted Stock and Performance-Based Restricted Stock Units:
The aggregate intrinsic value of stock options outstanding and exercisable as of June 30, 2013 was $276.8 million and $242.7 million ,
respectively, which has a remaining life of 4.6 years and 3.4 years , respectively. The aggregate intrinsic value for stock options exercised in
fiscal 2013 , 2012 , and 2011 was $135.1 million , $83.8 million , and $95.7 million , respectively.
57
Years ended June 30,
2013
2012
2011
Operating expenses
$
17.9
$
17.2
$
16.5
Selling, general and administrative expenses
64.0
62.6
59.9
System development and programming costs
14.5
14.3
13.9
Total pretax stock-based compensation expense
$
96.4
$
94.1
$
90.3
Income tax benefit
$
34.3
$
33.5
$
32.3
Year ended June 30, 2013
Number
of Options
(in thousands)
Weighted
Average Price
(in dollars)
Options outstanding, beginning of year
16,187
$
41
Options granted
1,168
$
60
Options exercised
(6,070
)
$
38
Options canceled
(175
)
$
41
Options outstanding, end of year
11,110
$
44
Options exercisable, end of year
8,662
$
41
Shares available for future grants, end of year
28,459
Shares reserved for issuance under stock option plans, end of year
39,569
Year ended June 30, 2013
Number of
Shares
(in thousands)
Number of Units
(in thousands)
Restricted shares/units outstanding at July 1, 2012
358
—
Restricted shares/units granted
1,171
284
Restricted shares/units vested
(168
)
—
Restricted shares/units forfeited
(48
)
(4
)
Restricted shares/units outstanding at June 30, 2013
1,313
280
Year ended June 30, 2013
Number of
Shares
(in thousands)
Number of Units
(in thousands)
Restricted shares/units outstanding, beginning of year
1,474
295
Restricted shares/units granted
542
30
Restricted shares/units vested
(1,329
)
(275
)
Restricted shares/units forfeited
(166
)
(12
)
Restricted shares/units outstanding, end of year
521
38