Computer Associates 2007 Annual Report Download - page 133

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Additional information with respect to stock option plan activity is as follows:
(SHARES IN MILLIONS)
NUMBER
OF SHARES
WEIGHTED AVERAGE
EXERCISE PRICE
Outstanding at March 31, 2004 43.8 $ 28.63
Granted 0.8 28.56
Exercised (3.9) 18.42
Acquired through acquisition 1.4 20.91
Expired or terminated (8.5) 32.43
Outstanding at March 31, 2005 33.6 $ 28.50
Granted 2.7 28.59
Exercised (5.0) 19.63
Acquired through acquisition 2.3 20.62
Expired or terminated (2.8) 32.29
Outstanding at March 31, 2006 30.8 $ 28.96
Granted 3.4 23.28
Exercised (2.4) 17.96
Expired or terminated (10.5) 30.04
Outstanding at March 31, 2007 21.3 $ 28.72
(SHARES IN MILLIONS)
NUMBER
OF SHARES
WEIGHTED AVERAGE
EXERCISE PRICE
Options exercisable at:
March 31, 2005 25.5 $ 29.81
March 31, 2006 25.8 29.27
March 31, 2007 16.9 29.78
The following table summarizes stock option information as of March 31, 2007:
RANGE OF EXERCISE PRICES
(SHARES AND AGGREGATE
INTRINSIC VALUE IN
MILLIONS) SHARES
AGGREGATE
INTRINSIC
VALUE
WEIGHTED
AVERAGE
REMAINING
CONTRACTUAL
LIFE
WEIGHTED
AVERAGE
EXERCISE
PRICE SHARES
AGGREGATE
INTRINSIC
VALUE
WEIGHTED
AVERAGE
REMAINING
CONTRACTUAL
LIFE
WEIGHTED
AVERAGE
EXERCISE
PRICE
OPTIONS OUTSTANDING OPTIONS EXERCISABLE
$ 1.37 — $ 20.00 2.0 $ 24.9 5.8 $ 13.64 2.0 $ 24.1 5.8 $ 13.61
$ 20.01 — $ 30.00 14.3 18.4 5.8 25.70 10.1 9.4 5.0 26.18
$ 30.01 — $ 40.00 2.0 0.0 3.9 34.28 1.8 0.0 3.4 34.62
$ 40.01 — $ 50.00 1.4 0.0 0.9 47.11 1.4 0.0 0.9 47.11
$ 50.01 — $ 74.69 1.6 0.0 2.3 52.12 1.6 0.0 2.3 52.12
21.3 $ 43.3 5.0 $ 28.72 16.9 $ 33.5 4.3 $ 29.78
The fair value of each option is estimated on the date of grant using the Black-Scholes option pricing model, consistent with
the provisions of SFAS No. 123(R) and the Securities and Exchange Commission (SEC) Staff Accounting Bulletin No. 107,
“Interaction Between FASB Statement No. 123(R), and Certain SEC Rules and Regulations Regarding the Valuation of Share-Based
Payment Arrangements for Public Companies” (SAB 107). The Company believes that the valuation technique and the approach
utilized to develop the underlying assumptions are appropriate in calculating the fair values of the Company’s stock options
granted in the fiscal years ended March 31, 2007, 2006, and 2005. Estimates of fair value are not intended to predict actual
future events or the value ultimately realized by employees who receive equity awards.
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