Ingram Micro 2008 Annual Report Download - page 81

Download and view the complete annual report

Please find page 81 of the 2008 Ingram Micro annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 100

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100

The aggregate intrinsic value in the table above represents the difference between the Company’s closing stock
price on January 3, 2009 and the option exercise price, multiplied by the number of in-the-money options on
January 3, 2009. This amount changes based on the fair market value of the Company’s common stock. Total
intrinsic value of stock options exercised in 2008, 2007 and 2006 was $6,458, $28,235, and $42,128, respectively.
Total fair value of stock options vested and expensed was $8,403, $17,536 and $20,526 for 2008, 2007 and 2006,
respectively. As of January 3, 2009, the Company expects $8,058 of total unrecognized compensation cost related to
stock options to be recognized over a weighted-average period of approximately 1.6 years.
Cash received from stock option exercises in 2008, 2007 and 2006 was $23,256, $66,698 and $98,129,
respectively, and the actual benefit realized for the tax deduction from stock option exercises of the share-based
payment awards totaled $1,511, $7,369 and $10,580 in 2008, 2007 and 2006, respectively.
The following table summarizes information about stock options outstanding and exercisable at January 3,
2009:
Range of Exercise Prices
Number
Outstanding at
January 3,
2009 (in 000s)
Weighted-
Average
Remaining
Life
Weighted-
Average
Exercise
Price
Number
Exercisable at
January 3,
2009 (in 000s)
Weighted-
Average
Exercise
Price
Options Outstanding Options Exercisable
$10.15 – $12.35 ............. 4,271 3.0 $11.33 4,267 $11.33
$12.56 – $15.81 ............. 3,864 4.5 14.25 3,864 14.25
$16.10 – $19.93 ............. 8,267 5.1 17.73 7,344 17.71
$20.00 – $21.60 ............. 1,057 8.0 20.69 716 20.69
17,459 4.6 15.57 16,191 15.33
Stock options exercisable totaled approximately 16,191,000, 15,665,000 and 17,845,000 at January 3, 2009,
December 29, 2007 and December 30, 2006, respectively, at weighted-average exercise prices of $15.33, $14.90
and $15.08, respectively.
Activity related to non-vested restricted stock and restricted stock units was as follows for the three years
ended January 3, 2009:
Number of
Shares
(in 000s)
Weighted-
Average
Grant Date
Fair Value
Non-vested at December 31, 2005................................ 10 $18.43
Granted ................................................. 1,420 19.45
Vested .................................................. (4) 19.66
Forfeited................................................. (43) 19.42
Non-vested at December 30, 2006................................ 1,383 19.49
Granted ................................................. 1,625 20.60
Vested .................................................. (329) 19.41
Forfeited................................................. (187) 19.95
Non-vested at December 29, 2007................................ 2,492 20.19
Granted ................................................. 1,758 17.70
Vested .................................................. (1,112) 19.64
Forfeited................................................. (462) 17.93
Non-vested at January 3, 2009 .................................. 2,676 19.17
71
INGRAM MICRO INC.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (Continued)