Sunbeam 2008 Annual Report Download - page 57

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At December 31, 2008, the Company believes it has no tax positions for which it is reasonably possible that the total amounts of
unrecognized tax benefits may significantly change within twelve months.
The Company classifies all interest and penalties on uncertain tax positions as income tax expense, which is consistent with the
classification in prior years. As of December 31, 2008, and 2007, the liability for tax-related interest was $8.6 and $8.2, respectively.
Additionally, the 2008 and 2007 provision for income taxes includes tax-related interest of $0.5 and $2.0, respectively.
13. Stockholders’ Equity and Share-Based Awards
The Company maintains the Amended and Restated 2003 Stock Incentive Plan, as amended (the “2003 Plan”), which allows for grants
of stock options, restricted stock and short-term cash awards. There were approximately 0.6 million share-based awards available for grant
under the 2003 Plan at December 31, 2008.
Stock Options
Asummary of the Company’s stock option activity in 2008, 2007 and 2006 is as follows:
2008 2007 2006
Weighted Weighted Weighted
Average Average Average
(Shares in thousands) Shares Exercise Price Shares Exercise Price Shares Exercise Price
Options outstanding, beginning of year 3,431.2 $ 16.88 4,101.2 $ 17.38 4,695.5 $ 16.92
Granted 871.5 20.88 — — 100.0 33.37
Exercised (186.8) 11.29 (457.4) 18.39 (447.1) 9.94
Cancelled (350.9) 27.5 (212.6) 23.41 (247.2) 28.54
Options outstanding,end of year 3,765.0 $17.09 3,431.2 $ 16.88 4,101.2 $ 17.38
Options exercisable, end of year 2,774.8 $ 15.31 2,484.4 $ 12.07 2,694.1 $ 12.74
Significant option grants outstanding at December 31, 2008 and related weighted average price and life information is as follows:
Options Outstanding Options Exercisable
Weighted Weighted
(Shares in thousands) Number Average Weighted Average Number Average
Exercise Price Outstanding Exercise Price remaining life (years) Exercisable Exercise Price
$2.43 – $ 8.19 71.8 $ 5.91 3.14 71.8 $ 5.91
$8.60 – $13.14 1,804.0 9.33 3.74 1,786.0 9.32
$14.30 – $21.40 956.8 20.85 6.39 124.3 19.62
$21.90 – $28.57 215.0 23.61 5.27 199.0 23.54
$29.46 – $37.99 717.4 30.76 3.38 593.7 30.84
3,765.0 $17.09 4.42 2,774.8 $15.31
The Company does not use cash to settle any of its options or restricted share awards and when available issues shares from its
treasury stock instead of issuing new shares. The total intrinsic value of options exercised for 2008, 2007 and 2006, based upon the average
market price during the period, was approximately $2.1, $9.9, and $10.5, respectively.
Notes to Consolidated Financial Statements
Jarden Corporation Annual Report 2008 (Dollars in millions, except per share data and unless otherwise indicated)
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