Notes to Consolidated Financial Statements
NOTE 14 (3 of 3)
The following table summarizes information about Verizon’s stock options outstanding as of December 31, 2007:
|
Stock Options Outstanding |
|||||||||
|---|---|---|---|---|---|---|---|---|---|---|
Range of Exercise Prices |
Shares (in thousands) |
Weighted-Average Remaining Life |
|
Weighted-Average Exercise Price |
||||||
$ |
20.00 |
— |
29.99 |
|
27 |
4.7 |
years |
|
$ |
27.68 |
|
30.00 |
— |
39.99 |
|
20,671 |
5.5 |
|
|
|
36.45 |
|
40.00 |
— |
49.99 |
|
76,518 |
2.9 |
|
|
|
44.06 |
|
50.00 |
— |
59.99 |
|
77,183 |
2.1 |
|
|
|
54.43 |
|
60.00 |
— |
69.99 |
|
464 |
1.8 |
|
|
|
60.74 |
|
|
|
Total |
|
174,863 |
2.9 |
|
|
|
47.78 |
The total intrinsic value was approximately $223 million for stock options outstanding as of December 31, 2007. The total intrinsic value for stock options exercised was $147 million, $10 million and $6 million, during 2007, 2006 and 2005, respectively.
The amount of cash received from the exercise of stock options was approximately $1,274 million, $101 million and $34 million for 2007, 2006 and 2005, respectively. The related tax benefits were not material.
The after-tax compensation expense for stock options was not material in 2007, and was $28 million and $53 million for 2006 and 2005, respectively.