Raytheon 2013 Annual Report Download - page 110

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NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)
100
Stock option activity was as follows:
Shares
(in thousands)
Weighted-
Average
Option Price
Weighted-
Average
Remaining
Contractual
Term
(in years)
Aggregate
Intrinsic
Value
(in millions)
Outstanding at December 31, 2010 6,450 $ 37.23 1.5 $ 59
Exercised (1,867) 33.73
Forfeited or expired (185) 30.85
Outstanding at December 31, 2011 4,398 38.98 0.8 41
Exercised (3,238) 40.61
Forfeited or expired (271) 44.00
Outstanding at December 31, 2012 889 31.56 0.5 23
Exercised (755) 31.45
Forfeited or expired (82) 31.23
Outstanding at December 31, 2013 52 $ 33.55 0.5 $ 3
Exercisable at December 31, 2013 52 $ 33.55 0.5 $ 3
The total intrinsic value of options exercised in the years ended December 31, 2013, 2012 and 2011 was $21 million, $38
million and $29 million, respectively.
As of December 31, 2013 and December 31, 2012 all outstanding options were fully vested and exercisable. No options vested
during the years ended December 31, 2013 and December 31, 2012.
The following table summarizes information about stock options outstanding and exercisable at December 31, 2013:
Exercise Price Range Shares
(in thousands)
Weighted-
Average
Remaining
Contractual
Life (in
years)
Weighted-
Average
Exercise
Price
29.65 to 32.84 33 0.3 $ 31.60
32.85 to 37.00 14 0.7 $ 35.78
37.01 to 39.21 5 0.9 $ 39.21
Total 52 0.5 $ 33.55
Shares exercisable at the corresponding weighted-average exercise price at December 31, 2013, 2012 and 2011, were 0.1
million at $33.55, 0.9 million at $31.56 and 4.4 million at $38.98, respectively.
Note 13: Pension and Other Employee Benefits
We have pension plans covering the majority of our employees, including certain employees in foreign countries (Pension
Benefits). Our primary pension obligations relate to our domestic IRS qualified pension plans. We also provide certain health
care and life insurance benefits to retired employees and to eligible employees upon retirement through other postretirement
benefit plans (Other Benefits).
The fair value of plan assets for our domestic and foreign Pension Benefit plans was as follows:
(In millions) 2013 2012
Domestic Pension Benefit plan $ 18,822 $ 16,733
Foreign Pension Benefit plan 806 717