Raytheon 2007 Annual Report Download - page 113

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NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)
Stock option activity for the three years ended December 31, 2007 was as follows:
(Share amounts in thousands) Shares
Weighted-
Average
Option Price
Weighted-
Average
Remaining
Contractual
Term
(In years)
Aggregate
Intrinsic
Value
(In millions)
Outstanding at December 31, 2004 38,144 $39.61 $ (30)
Granted 53 36.69
Exercised (2,674) 27.07
Forfeited or expired (1,838) 46.91
Outstanding at December 31, 2005 33,685 40.20 (2)
Granted — —
Exercised (5,791) 30.94
Forfeited or expired (2,356) 50.57
Outstanding at December 31, 2006 25,538 41.34 293
Granted — —
Exercised (7,528) 37.80
Forfeited or expired (892) 49.96
Outstanding at December 31, 2007 17,118 $42.45 3.3 $312
Vested and nonvested expected to vest at December 31, 2007 17,110 $42.45 3.3 $312
Exercisable at December 31, 2007 17,021 $42.50 3.3 $310
The total intrinsic value of options exercised in the years ended December 31, 2007, 2006 and 2005 was $145 million, $87
million and $32 million, respectively.
Stock option activity related to nonvested shares for the year ended December 31, 2007 was as follows:
(Share amounts in thousands) Shares
Weighted-Average
Grant Date
Fair Value
Nonvested at December 31, 2006 605 $8.95
Vested (465) 8.85
Forfeited (42) 8.56
Nonvested at December 31, 2007 98 $9.56
The total fair value of shares vested during the year ended December 31, 2007, 2006 and 2005 was $4 million, $23 million
and $54 million, respectively.
There were 35.1 million and 41.5 million additional shares of common stock (including shares held in treasury)
authorized for stock option, restricted stock and restricted stock unit awards under our stock plans at December 31, 2007
and December 31, 2006, respectively.
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