Honeywell 2014 Annual Report Download - page 67

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The following table summarizes information about stock options outstanding and exercisable at
December 31, 2014:
Range of Exercise prices
Number
Outstanding
Weighted
Average
Life(1)
Weighted
Average
Exercise
Price
Aggregate
Intrinsic
Value
Number
Exercisable
Weighted
Average
Exercise
Price
Aggregate
Intrinsic
Value
Options Outstanding Options Exercisable
$28.35–$39.99 . . . . . . . . . . . . . . 2,029,342 3.71 $29.46 $ 143 2,029,342 $29.46 $143
$40.00–$49.99 . . . . . . . . . . . . . . 5,971,196 3.86 42.00 346 5,968,696 42.00 346
$50.00–$59.99 . . . . . . . . . . . . . . 10,710,421 6.07 58.36 445 6,777,404 58.12 283
$60.00–$74.99 . . . . . . . . . . . . . . 5,202,747 8.10 69.72 157 1,214,300 69.27 37
$75.00–$95.00 . . . . . . . . . . . . . . 5,581,906 9.16 93.95 33 30,000 93.97 —
29,495,612 6.40 61.80 $1,124 16,019,742 49.40 $809
(1) Average remaining contractual life in years.
There were 15,594,410 and 19,468,017 options exercisable at weighted average exercise prices
of $45.76 and $43.64 at December 31, 2013 and 2012, respectively.
The following table summarizes the financial statement impact from stock options exercised:
Options Exercised 2014 2013 2012
Years Ended December 31,
Intrinsic value(1) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $272 $367 $202
Tax benefit realized . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 96 129 74
Operating cash inflow . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 172 333 249
Financing cash inflow . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 77 99 56
Total cash received . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 249 432 305
(1) Represents the amount by which the stock price exceeded the exercise price of the options on the
date of exercise.
At December 31, 2014 there was $125 million of total unrecognized compensation cost related to
non-vested stock option awards which is expected to be recognized over a weighted-average period of
2.45 years. The total fair value of options vested during 2014, 2013 and 2012 was $72 million, $67
million and $63 million, respectively.
Restricted Stock Units—Restricted stock unit (RSU) awards entitle the holder to receive one
share of common stock for each unit when the units vest. RSUs are issued to certain key employees
and directors at fair market value at the date of grant as compensation. RSUs typically become fully
vested over periods ranging from three to seven years and are payable in Honeywell common stock
upon vesting.
58
HONEYWELL INTERNATIONAL INC.
NOTES TO FINANCIAL STATEMENTS—(Continued)
(Dollars in millions, except per share amounts)