Huntington National Bank 2006 Annual Report Download - page 113

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NOTES TO CONSOLIDATED FINANCIAL STATEMENTS HUNTINGTON BANCSHARES INCORPORATED
The following table presents additional information regarding options outstanding as of December 31, 2006.
Options Outstanding Exercisable Options
Weighted-
Average Weighted- Weighted-
Remaining Average Average
Contractual Exercise Exercise
(in thousands, except per share amounts) Shares Life (Years) Price Shares Price
Range of Exercise Prices
$9.91 to $15.00 738 4.7 $14.21 738 $14.21
$15.01 to $20.00 7,133 4.7 18.03 5,844 17.61
$20.01 to $25.00 10,439 5.6 22.86 5,803 22.14
$25.01 to $28.35 2,263 2.1 27.22 2,254 27.23
Total 20,573 4.8 $21.36 14,639 $20.72
On August 27, 2002, common stock options were granted, with certain specified exceptions, to full- and part-time employees
under the Huntington Bancshares Incorporated Employee Stock Incentive Plan (the Incentive Plan). Under the terms of the
Incentive Plan, these options are to vest on the earlier of August 27, 2007, or at such time as the closing price for Huntington’s
common stock for five consecutive trading days reached or exceeded $27.00. As of December 31, 2006, 1.4 million shares under
option remain unvested.
Huntington’s board of directors has approved all of the plans. Shareholders have approved each of the plans, except for the
broad-based Employee Stock Incentive Plan. Of the 25.3 million awards to grant or purchase shares of common stock authorized
for issuance under the plans at December 31, 2006, 21.4 million were outstanding and 3.9 million were available for future
grants.
20. INCOME TAXES
The following is a summary of the provision for income taxes:
At December 31,
(in thousands of dollars) 2006 2005 2004
Current tax provision
Federal $ 340,665 $163,383 $ 12,779
State 222 210 —
Total current tax provision 340,887 163,593 12,779
Deferred tax (benefit) provision
Federal (288,475) (32,681) 140,962
State 428 571 —
Total deferred tax (benefit) provision (288,047) (32,110) 140,962
Provision for income taxes $ 52,840 $131,483 $153,741
Tax expense (benefit) associated with securities transactions included in the above amounts were ($25.6 million) in 2006,
($2.8 million) in 2005, and $5.5 million in 2004.
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