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This excerpt taken from the BAMM 10-Q filed Jun 10, 2008. Accounting for Stock Issued to Employees.” SFAS No. 123(R) requires the Company to recognize expense related to the fair value of its stock-based compensation awards, including employee stock options.
The Company used the modified prospective transition method as permitted by SFAS No. 123(R). Under this transition method, the Company applied the provisions of SFAS No. 123(R) to new awards and to awards modified, repurchased or canceled after January 29, 2006. In addition, the Company recognizes compensation cost for the portion of awards for which the requisite service had not been rendered (unvested awards) that were outstanding as of January 29, 2006, as the remaining service is rendered. The compensation cost recorded for these awards is based on their grant-date fair value as previously calculated for the pro forma disclosures required by SFAS No. 123. The Company’s pre-tax compensation cost for stock-based employee compensation was $371,291 ($138,826 net of taxes) and $303,000 ($179,000 net of taxes) for the thirteen weeks ended May 3, 2008 and May 5, 2007, respectively.
BOOKS-A-MILLION, INC. AND SUBSIDIARIES NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Unaudited)
These excerpts taken from the BAMM 10-K filed Apr 17, 2008. Accounting for Stock Issued
to Employees,” and related Interpretations. No
stock-based employee compensation cost for this plan is reflected in net income, as all
options granted under the plan had an exercise price equal to the market value of the
underlying common stock on the date of grant. The following table illustrates the
effect on net income and net income per common share if the Company had applied the
fair value recognition provisions of Statement of Financial Accounting Standards No.
148 (“SFAS 148”) “Accounting for Stock-Based Compensation-
Transaction and Disclosure – an Amendment of FASB Statement No. 123” to
stock-based employee compensation:
The Company’s pre-tax compensation cost for stock-based employee compensation was $1,466,000 ($904,000 net of taxes), $1,559,000 ($982,000 net of taxes) and $448,000 ($270,000 net of taxes) for the years ended February 2, 2008, February 3, 2007 and January 28, 2006, respectively. Prior to the adoption of SFAS No. 123(R), the Company presented all tax benefits resulting from the exercise of stock options as operating cash flows in the Consolidated Statements of Cash Flows. SFAS No. 123(R) requires that cash flows from the exercise of stock options resulting from tax benefits in excess of recognized cumulative compensation cost (excess tax benefits) be classified as financing cash flows. For the year ended February 2, 2008, $1,638,000 of such excess tax benefits was classified as financing cash flows. Excess tax benefits for the years ended February 3, 2007 and January 28, 2006 were $2,567,000 and $613,000, respectively.
Accounting for Stock Issued to Employees,” and related Interpretations. No stock-based employee compensation cost for this plan is reflected in net income, as all options granted under the plan had an exercise price equal to the market value of the underlying common stock on the date of grant. The following table illustrates the effect on net income and net income per common share if the Company had applied the fair value recognition provisions of Statement of Financial Accounting Standards No. 148 (“SFAS 148”) “Accounting for Stock-Based Compensation- Transaction and Disclosure – an Amendment of FASB Statement No. 123” to stock-based employee compensation:
The
This excerpt taken from the BAMM 10-Q filed Dec 12, 2007. Accounting for Stock Issued to Employees.” SFAS No. 123(R) requires the Company to recognize expense related to the fair value of its stock-based compensation awards, including employee stock options.
The Company used the modified prospective transition method as permitted by SFAS No. 123(R). Under this transition method, the Company applied the provisions of SFAS No. 123(R) to new awards and to awards modified, repurchased or canceled after January 29, 2006. In addition, the Company recognizes compensation cost for the portion of awards for which the requisite service had not been rendered (unvested awards) that were outstanding as of January 29, 2006, as the remaining service is rendered. The compensation cost recorded for these awards is based on their grant-date fair value as previously calculated for the pro forma disclosures required by SFAS No. 123. The Company’s pre-tax compensation cost for stock-based employee compensation was $1,122,000 ($694,000 net of taxes) and $1,082,000 ($668,000 net of taxes) for the thirty-nine weeks ended November 3, 2007 and October 28, 2006, respectively.
7 BOOKS-A-MILLION, INC. AND SUBSIDIARIES NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Unaudited)
This excerpt taken from the BAMM 10-Q filed Sep 13, 2007. Accounting for Stock Issued to Employees.” SFAS No. 123(R) requires the Company to recognize expense related to the fair value of its stock-based compensation awards, including employee stock options.
The Company used the modified prospective transition method as permitted by SFAS No. 123(R). Under this transition method, the Company applied the provisions of SFAS No. 123(R) to new awards and to awards modified, repurchased or cancelled after January 29, 2006. In addition, the Company recognizes compensation cost for the portion of awards for which the requisite service had not been rendered (unvested awards) that were outstanding as of January 29, 2006, as the remaining service is rendered. The compensation cost recorded for these awards is based on their grant-date fair value as previously calculated for the pro forma disclosures required by SFAS No. 123. The Company’s pre-tax compensation cost for stock-based employee compensation was $705,000 ($439,000 net of taxes) and $763,000 ($467,000 net of taxes) for the twenty-six weeks ended August 4, 2007 and July 29, 2006, respectively.
7 BOOKS-A-MILLION, INC. AND SUBSIDIARIES NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Unaudited)
This excerpt taken from the BAMM 10-K filed Apr 19, 2007. Accounting for Stock Issued to Employees,” and related Interpretations. No stock-based employee compensation cost for this plan is reflected in net income, as all options granted under the plan had an exercise price equal to the market value of the underlying common stock on the date of grant. The following table illustrates the effect on net income and net income per common share if the Company had applied the fair value recognition provisions of Statement of Financial Accounting Standards No. 148 (“SFAS 148”) “Accounting for Stock-Based Compensation- Transaction and Disclosure – an Amendment of FASB statement No. 123” to stock-based employee
compensation:
The Company’s pre-tax compensation cost for stock-based employee compensation was $1,559,000 ($982,000 net of taxes), $448,000 ($270,000 net of taxes) and $167,000 ($105,000) for the years ended February 3, 2007, January 28, 2006 and January 29, 2005, respectively. As a result of the adoption of SFAS No. 123(R), the financial results were lower than under our previous accounting method for share-based compensation for fiscal 2007 by the following amounts:
Prior to the adoption of SFAS No. 123(R), the Company presented all tax benefits resulting from the exercise of stock options as operating cash flows in the Consolidated Statements of Cash Flows. SFAS No. 123(R) requires that cash flows from the exercise of stock options resulting from tax benefits in excess of recognized cumulative compensation cost (excess tax benefits) be classified as financing cash flows. For the year ended February 3, 2007 $2,567,000, of such excess tax benefits was classified as financing cash flows. Excess tax benefits for the years ended January 28, 2006 and January 29, 2005 were $613,000 and $943,000, respectively.
This excerpt taken from the BAMM 10-Q filed Dec 7, 2006. Accounting for Stock Issued to Employees.” SFAS No. 123(R) requires us to recognize expense related to the fair value of our stock-based compensation awards, including employee stock options.
Prior to the adoption of SFAS No. 123(R), we accounted for stock-based compensation awards using the intrinsic value method of APB Opinion 25. Accordingly, we did not recognize compensation expense in our statement of income for options we granted that had an exercise price equal to the market value of the underlying common stock on the date of grant. However, we did record compensation expense related to restricted stock units based on the market value of our stock at the date of grant. As required by SFAS No. 123, we also provided certain pro forma disclosures for stock-based awards as if the fair-value-based approach of SFAS No. 123 had been applied. We have elected to use the modified prospective transition method as permitted by SFAS No. 123(R) and, therefore, have not restated our financial results for prior periods. Under this transition method, we have applied the provisions of SFAS No. 123(R) to new awards and to awards modified, repurchased or cancelled after January 29, 2006. In addition, we will recognize compensation cost for the portion of awards for which the requisite service has not been rendered (unvested awards) that are outstanding as of January 29, 2006, as the remaining service is rendered. The compensation cost we record for these awards will be based on their grant-date fair value as calculated for the pro forma disclosures required by SFAS No. 123. Our pre-tax compensation cost for stock-based employee compensation was $1,082,000 ($668,000 net of taxes) and $287,000 ($177,000 net of taxes) for the thirty-nine weeks ended October 28, 2006 and October 29, 2005, respectively. As a result of the adoption of SFAS No. 123(R), our financial results were lower than under our previous accounting method for share-based compensation by the following amounts:
7
BOOKS-A-MILLION, INC. AND SUBSIDIARIES NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (unaudited)
Prior to the adoption of SFAS No. 123(R), we presented all tax benefits resulting from the exercise of stock options as operating cash flows in the Consolidated Statements of Cash Flows. SFAS No. 123(R) requires that cash flows from the exercise of stock options resulting from tax benefits in excess of recognized cumulative compensation cost (excess tax benefits) be classified as financing cash flows. For the thirteen and thirty-nine weeks ended October 28, 2006, $435,000 and $2,570,000 of such excess tax benefits were classified as financing cash flows, respectively.
This excerpt taken from the BAMM 10-Q filed Sep 7, 2006. Accounting for Stock Issued to Employees.” SFAS No. 123(R) requires us to recognize expense related to the fair value of our stock-based compensation awards, including employee stock options.
Prior to the adoption of SFAS No. 123(R), we accounted for stock-based compensation awards using the intrinsic value method of APB Opinion 25. Accordingly, we did not recognize compensation expense in our statement of income for options we granted that had an exercise price equal to the market value of the underlying common stock on the date of grant. However, we did record compensation expense related to restricted stock units based on the market value of our stock at the date of grant. As required by SFAS No. 123, we also provided certain pro forma disclosures for stock-based awards as if the fair-value-based approach of SFAS No. 123 had been applied. We have elected to use the modified prospective transition method as permitted by SFAS No. 123(R) and, therefore, have not restated our financial results for prior periods. Under this transition method, we have applied the provisions of SFAS No. 123(R) to new awards and to awards modified, repurchased or cancelled after January 29, 2006. In addition, we will recognize compensation cost for the portion of awards for which the requisite service has not been rendered (unvested awards) that are outstanding as of January 29, 2006, as the remaining service is rendered. The compensation cost we record for these awards will be based on their grant-date fair value as calculated for the pro forma disclosures required by SFAS No. 123. Our pre-tax compensation cost for stock-based employee compensation was $763,000 ($467,000 net of taxes) and $182,000 ($112,000 net of taxes) for the twenty-six weeks ended July 29, 2006 and July 30, 2005, respectively. As a result of the adoption of SFAS No. 123(R), our financial results were lower than under our previous accounting method for share-based compensation by the following amounts:
7
BOOKS-A-MILLION, INC. AND SUBSIDIARIES NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (unaudited)
Prior to the adoption of SFAS No. 123(R), we presented all tax benefits resulting from the exercise of stock options as operating cash flows in the Consolidated Statements of Cash Flows. SFAS No. 123(R) requires that cash flows from the exercise of stock options resulting from tax benefits in excess of recognized cumulative compensation cost (excess tax benefits) be classified as financing cash flows. For the thirteen and twenty-six weeks ended July 29, 2006, $1,919,000 and $2,135,000 of such excess tax benefits were classified as financing cash flows, respectively.
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