Circuit City 2000 Annual Report Download - page 30

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For Shares Option Prices
---------- -------------
Outstanding, January 1, 1998 1,304,948 $17.50 to $39.06
Granted 469,450 $12.38 to $17.50
Cancelled (131,550) $17.50 to $18.41
-------- ----------------
Outstanding, December 31, 1998 1,642,848 $12.38 to $39.06
Granted 848,700 $ 7.31 to $ 7.88
Cancelled (65,164) $12.38 to $18.41
------- ----------------
Outstanding, December 31, 1999 2,426,384 $ 7.31 to $39.06
Granted 4,000 $ 7.19
Cancelled (303,752) $ 7.31 to $18.41
-------- ----------------
Outstanding, December 31, 2000 2,126,632 $ 7.19 to $39.06
=========
2000 1999 1998
-------------------------- --------------------------- ------------------------
Weighted-Average Weighted Average Weighted Average
Fixed Options Shares Exercise Price Shares Exercise Price Shares Exercise Price
------------------------------------------------------------------------------
Outstanding at beginning of year 2,426,384 $14.34 1,642,848 $18.04 1,304,948 $19.28
Granted ......................... 4,000 $ 7.19 848,700 $ 7.32 469,450 $14.49
Cancelled ....................... (303,752) $11.72 (65,164) $17.14 (131,550) $17.64
---------- ---------- --------
Outstanding at end of year ......2,126,632 $14.70 2,426,384 $14.34 1,642,848 $18.04
========= ========= =========
Options exercisable at year end 1,133,547 595,050 335,550
Weighted average fair value per
option granted during the year $5.60 $3.02 $5.77
As of December 31, 2000:
Range of Weighted-Average Weighted-Average Weighted-Average
Exercise Number Remaining Exercise Number Exercise
Price Outstanding Contractual Life Price Exercisable Price
----------------------- ----------- ---------------- ---------------- ----------- ---------------
$ 7.19 to $ 15.00 901,850 8.58 $ 8.49 167,526 $ 7.47
$ 15.01 to $ 20.00 977,782 5.38 $ 17.39 719,021 $ 17.41
$ 20.01 to $ 30.00 243,000 4.71 $ 26.57 243,000 $ 26.57
$ 30.01 to $ 39.06 4,000 5.33 $ 39.06 4,000 $ 39.06
--------- ---------
$ 7.19 to $ 39.06 2,126,632 6.66 $ 14.70 1,133,547 $ 17.98
========= =========
7. INCOME TAXES
Year Ended December 31 2000 1999 1998
---------------------- -------- -------- ---------
Current:
Federal $(24,915) $ 18,145 $ 22,072
State (1,146) 3,558 4,259
Foreign 1,348 1,648 2,242
Deferred 230 1,160 (2,749)
-------- -------- ---------
Total $(24,483) $ 24,511 $ 25,824
======== ======== =========
The following table summarizes information for the three years ended December 31, 2000 concerning currently
outstanding and exercisable options:
The provision (benefit) for income taxes consists of the following (in thousands):