Dell 2006 Annual Report Download - page 92
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Table of Contents
DELL INC.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (continued)
Fiscal 2008, which are expected to total approximately $113 million. Dell will not continue to pay cash for expired in-the-
money stock options once the options again become exercisable.
General Information
Stock Option Activity — The following table summarizes stock option activity for the Stock Plans during Fiscal 2007:
Weighted-
Weighted- Average
Number Average Remaining Aggregate
of Exercise Contractual Intrinsic
Options Price Term Value
(in millions) (per share) (in years) (in millions)
Options outstanding — February 3, 2006 343 $ 31.86
Granted 10 25.97
Exercised (13) 14.09
Forfeited (4) 25.84
Cancelled/expired (22) 36.43
Options outstanding — February 2, 2007 314 $ 32.16
Vested and expected to vest (net of estimated forfeitures) — February 2,
2007(a) 309 $ 32.26 5.2 $ 148
Exercisable — February 2, 2007(a) 284 $ 32.74 5.1 $ 145
(a) For options vested and expected to vest and options exercisable, the aggregate intrinsic value in the table above represents the total pre-tax
intrinsic value (the difference between Dell's closing stock price on February 2, 2007 and the exercise price, multiplied by the number of in-the-
money options) that would have been received by the option holders had the holders exercised their options on February 2, 2007. The intrinsic
value changes based on changes in the fair market value of Dell's common stock.
Other information pertaining to stock options for Fiscal 2007, Fiscal 2006, and Fiscal 2005 is as follows:
Fiscal Years Ended
February 2, February 3, January 28,
2007 2006 2005
(in millions, except per option data)
Weighted-average grant date fair value of stock options granted per option $ 6.90 $ 10.22 $ 10.72
Total fair value of options vested $ 415 $ 2,029 $ 1,028
Total intrinsic value of options exercised(a) $ 171 $ 688 $ 697
(a) The total intrinsic value of options exercised represents the total pre-tax intrinsic value (the difference between the stock price at exercise and
the exercise price, multiplied by the number of options exercised) that was received by the option holders who exercised their options during
Fiscal 2007.
At February 2, 2007, $139 million of total unrecognized stock-based compensation expense, net of estimated forfeitures,
related to stock options is expected to be recognized over a weighted-average period of approximately 1.7 years.
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