CDW 2003 Annual Report Download - page 57

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44
The following table summarizes the status of outstanding stock options as of December 31, 2003:
Options Outstanding Options Exercisable
Range of
Exercise Prices
Number of
Options
Outstanding
Weighted-
Average
Remaining
Contractual
Life (in
years)
Weighted-
Average
Exercise
Price
Number of
Options
Exercisable
Weighted-
Average
Exercise
Price
$ 0.003 - 0.01 240,286 17.1 $ 0.01 - $ -
$ 5.68 - 6.75 58,468 11.8 $ 6.50 58,468 $ 6.50
$ 10.00 - 14.83 2,196,035 13.5 $ 13.70 731,114 $ 13.85
$ 16.20 - 23.99 1,608,612 15.0 $ 23.98 388,042 $ 23.99
$ 24.31 - 34.52 1,805,601 15.3 $ 26.45 190,092 $ 29.48
$ 36.62 – 54.75 4,158,861 10.4 $ 40.00 934,944 $ 37.84
$ 54.97 - 63.38 860,286 8.6 $ 56.08 159,546 $ 55.92
$ 0.003 - 63.38 10,928,149 12.5 $ 30.33 2,462,206 $ 28.31
Had we elected to apply the provisions of SFAS 123 regarding recognition of compensation expense to the
extent of the calculated fair value of stock options, reported net income and earnings per share would have
been reduced as follows (in thousands, except per share amounts):
2003 2002 2001
Net income, as reported $ 175,186 $ 185,249 $ 168,686
Add stock-based employee compensation
expense included in reported net income,
net of related tax effects 344 649 2,793
Deduct total stock-based employee
compensation expense determined under
fair value based method for all awards, net
of related tax effects (24,709) (26,123) (25,911)
Pro forma net income $ 150,821 $ 159,775 $ 145,568
Basic earnings per share, as reported $ 2.10 $ 2.18 $ 1.97
Diluted earnings per share, as reported $ 2.03 $ 2.10 $ 1.89
Pro forma basic earnings per share $ 1.81 $ 1.88 $ 1.70
Pro forma diluted earnings per share $ 1.75 $ 1.81 $ 1.63