Best Buy 2002 Annual Report Download - page 50

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48 Notes to Consolidated Financial Statements
Exercisable options at the end of fiscal 2002, 2001 and 2000 were 9.9 million, 9.4 million and 6.9 million, respectively.
The following table summarizes information concerning options outstanding and exercisable as of March 2, 2002:
Weighted
Average Weighted Weighted
Remaining Average Average
Range of Number Contractual Exercise Number Exercise
Exercise Prices Outstanding Life (Years) Price Exercisable Price
$ 0 to $ 6.6
7
2,880,000 5.29 $ 2.08 2,735,000 $ 2.19
$ 6.6
7
to $ 13.33 5,476,000 6.15 11.46 3,186,000 11.45
$ 13.33 to $ 20.00 140,000 7.56 16.42 56,000 16.28
$20.00 to $ 26.6
7
76,000 7.62 21.89 38,000 21.27
$26.6
7
to $ 33.33 551,000 7.63 31.02 265,000 31.61
$33.33 to $ 40.00 11,185,000 8.56 36.41 1,814,000 35.15
$40.00 to $ 46.6
7
689,000 9.16 45.34 73,000 44.18
$46.6
7
to $ 53.33 6,487,000 8.10 46.87 1,726,000 46.97
$53.33 to $ 60.00 3,000 8.10 55.09 1,000 55.09
$ 0 to $ 60.00 27,487,000 7.62 $30.29 9,894,000 $20.28
Restricted Stock Plan
We adopted a restricted stock award plan in fiscal 2001.
The plan authorizes us to issue up to 1.5 million shares of
our common stock to our eligible employees, consultants
and independent contractors, as well as to our Board of
Directors. Restricted shares have the same rights as other
shares of common stock, except they are not transferable
until fully vested. Restrictions lapse over a vesting period of
at least three years, during which no more than 25% may
vest at the time of award and no more than 25% on each
anniversary date thereafter. All shares still subject to
restrictions are forfeited and returned to the plan if the plan
participant’s relationship with us is terminated. The number
of shares granted under this plan was not significant
during fiscal 2002 or 2001.
Earnings per Share
Basic earnings per share is computed based on the
weighted average number of common shares outstanding.
Diluted earnings per share is computed based on the
weighted average number of common shares outstanding
adjusted by the number of additional shares that would
have been outstanding had the potentially dilutive common
shares been issued. Potentially dilutive shares of common
stock include stock options, convertible debentures assuming
certain criteria are met (see note 3), and other stock-based
awards granted under stock-based compensation plans.
The shares related to the convertible debentures were not
included in our diluted earnings per share computation as
the criteria for conversion of the debentures were not met.
We completed a three-for-two stock split effected in the
form of a 50% stock dividend distributed on May 10,
2002; and a two-for-one stock split effected in the form
of a 100% stock dividend distributed on March 18, 1999.
All share and per share information reflects these stock splits.
$ in millions, except per share amounts