Napa Auto Parts 2010 Annual Report Download - page 51

Download and view the complete annual report

Please find page 51 of the 2010 Napa Auto Parts 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 115

  • 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
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115

Table of Contents


A summary of the Company’s share-based compensation activity and related information is as follows:




 

Outstanding at beginning of year 6,749 $ 41
Granted 1,126 43
Exercised (1,121) 34
Forfeited (363) 45
Outstanding at end of year (3) 6,391 $ 42
Exercisable at end of year 4,829 $ 42
Shares available for future grants 4,499
(1) Shares include Restricted Stock Units (RSUs).
(2) The weighted-average exercise price excludes RSUs.
(3) The exercise prices for options and SARs outstanding as of December 31, 2010 ranged from approximately $32 to $49. The
weighted-average remaining contractual life of all options and SARs outstanding is approximately six years.
The weighted-average grant date fair value of options and SARs granted during the years 2010 and 2008 was $5.41 and $5.78,
respectively. The Company had no grant activity for the year ended December 31, 2009. The aggregate intrinsic value of options exercised
during the years ended December 31, 2010, 2009, and 2008 was $15,700,000, $4,700,000, and $5,000,000.
In 2010, the Company granted approximately 1,002,000 SARs and 124,000 RSUs. In 2008, the Company granted approximately
1,385,000 SARs and 116,000 RSUs.
A summary of the Company’s nonvested share awards (RSUs) activity is as follows:



  

Nonvested at January 1, 2010 126 $ 42
Granted 124 43
Vested (72) 44
Forfeited (7) 47
Nonvested at December 31, 2010 171 $ 44
For the years ended December 31, 2010, 2009 and 2008 approximately $3,300,000, ($684,000), and ($586,000), respectively, of
excess tax benefits (expense) was classified as a financing cash inflow (outflow).
 
Deferred income taxes reflect the net tax effect of temporary differences between the carrying amounts of assets and liabilities for
financial reporting purposes and amounts used for income tax purposes. Undistributed earnings of the Company’s foreign subsidiaries
are considered to be indefinitely reinvested. As such, no U.S. federal and state income taxes have been provided thereon, and it is not
practicable to determine the amount of the related
F-16