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This excerpt taken from the AAPL 10-Q filed Feb 3, 2006. Accounting for Stock-Based
Compensation — Transition and Disclosure as if the fair-value-based
method had been applied in measuring compensation expense. Under APB Opinion No. 25,
when the exercise price of the Company’s employee stock options was equal to
the market price of the underlying stock on the date of the grant, no
compensation expense was recognized.
The following table illustrates the effect on net income after taxes and net income per common share as if the Company had applied the fair value recognition provisions of SFAS No. 123 to stock-based compensation during the three-month period ended December 25, 2004 (in millions, except per share amounts):
6
Further information regarding stock-based compensation can be found in Note 6 of these Notes to Condensed Consolidated Financial Statements.
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