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LNT » Topics » (m) Accounting for Stock Options -

This excerpt taken from the LNT 10-K filed Mar 4, 2005.
(m) Accounting for Stock Options - At Dec. 31, 2004, Alliant Energy had two stock-based incentive compensation plans, which are described more fully in Note 6(b). Alliant Energy accounts for stock options issued under these plans under the recognition and measurement principles of Accounting Principles Board Opinion (APB) 25, “Accounting for Stock Issued to Employees” (APB 25). No stock-based compensation cost is reflected in net income in Alliant Energy’s Consolidated Statements of Income, as all options granted under those plans had an exercise price equal to the quoted market price of the underlying common stock on the date of grant. The effect on net income and EPS if Alliant Energy had applied the fair value recognition provisions of SFAS 123, “Accounting for Stock-Based Compensation,” to the stock options issued under these plans was as follows (in millions):

66

 

 

2004

 

2003

 

2002

Net income, as reported

$145.5

 

$183.5

 

$106.9

Less: stock-based compensation expense, net of tax

1.7

 

2.0

 

2.6

Pro forma net income

$143.8

 

$181.5

 

$104.3

 

 

 

 

 

 

EPS (basic):

 

 

 

 

 

As reported

$1.28

 

$1.81

 

$1.18

Pro forma

$1.27

 

$1.79

 

$1.15

EPS (diluted):

 

 

 

 

 

As reported

$1.28

 

$1.81

 

$1.18

Pro forma

$1.26

 

$1.79

 

$1.15

 

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