CSCO » Topics » UNDER SFAS 123(R) and SFAS 123

This excerpt taken from the CSCO 8-K filed Aug 8, 2006.

UNDER SFAS 123(R) and SFAS 123

(In millions, except per-share amounts)

 

     Three Months Ended     Twelve Months Ended  
     July 29,
2006
    July 30,
2005
    July 29,
2006
    July 30,
2005
 

Net income – as reported for prior periods (1)

     N/A     $ 1,540       N/A     $ 5,741  

Stock-based compensation expense related to employee stock options and employee stock purchases

   $ (211 )     (363 )   $ (1,050 )     (1,628 )

Tax benefit

   $ 59       88     $ 294       594  
                    

Stock-based compensation expense related to employee stock options and employee stock purchases, net of tax (2)

   $ (152 )     (275 )     (756 )     (1,034 )
                    

Net income, including the effect of stock-based compensation expense (3)

   $ 1,544     $ 1,265     $ 5,580     $ 4,707  
                    

Diluted net income per share – as reported for prior periods (1)

     N/A     $ 0.24       N/A     $ 0.87  

Stock-based compensation expense related to employee stock options and employee stock purchases, net of tax, per share (2)

   $ (0.02 )   $ (0.04 )   $ (0.12 )   $ (0.16 )
                    

Diluted net income per share, including the effect of stock-based compensation expense (3)

   $ 0.25     $ 0.20     $ 0.89     $ 0.71  
                    

Notes:

 

(1) Net income and net income per share prior to fiscal 2006 did not include stock-based compensation expense related to employee stock options and employee stock purchases under SFAS 123 because Cisco did not adopt the recognition provisions of SFAS 123.

 

(2) Stock-based compensation expense and stock-based compensation expense per share prior to fiscal 2006 is calculated based on the pro forma application of SFAS 123 as previously disclosed in Cisco’s financial statements footnotes.

 

(3) Net income and net income per share prior to fiscal 2006 represents pro forma information based on SFAS 123 as previously disclosed in Cisco’s financial statements footnotes.

 

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JDS Uniphase (JDSU)
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