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CLX » Topics » Determining Whether Instruments Granted in Share-Based Payment Transactions Are Participating SecuritiesThis excerpt taken from the CLX DEF 14A filed Oct 2, 2009. Determining
Whether Instruments Granted in Share-Based Payment Transactions Are
Participating Securities. This FSP states
that unvested share-based payment awards that contain nonforfeitable rights to
dividends or dividend equivalents, whether paid or unpaid, are participating
securities and shall be included in the computation of earnings per share
pursuant to the two-class method. The FSP is effective for financial statements
issued for fiscal years beginning after December 15, 2008, and interim periods
within those years. Upon adoption, a company is required to retrospectively
adjust its earnings per share data (including any amounts related to interim
periods, summaries of earnings and selected financial data) to conform with the
provisions in this FSP. Earlier adoption is prohibited. This FSP will be adopted
by the Company beginning in its fiscal year ending June 30, 2010, as required.
The Company does not expect the adoption of FSP EITF 03-6-1 to have a material
impact on its consolidated financial statements, although it will slightly lower
reported earnings per share.
In December 2007, the FASB issued SFAS No. 141 (Revised 2007), These excerpts taken from the CLX 10-K filed Aug 25, 2009. Determining Whether Instruments
Granted in Share-Based Payment Transactions Are Participating
Securities. This FSP states that unvested
share-based payment awards that contain nonforfeitable rights to dividends or
dividend equivalents, whether paid or unpaid, are participating securities and
shall be included in the computation of earnings per share pursuant to the
two-class method. The FSP is effective for financial statements issued for
fiscal years beginning after December 15, 2008, and interim periods within those
years. Upon adoption, a company is required to retrospectively adjust its
earnings per share data (including any amounts related to interim periods,
summaries of earnings and selected financial data) to conform with the
provisions in this FSP. Earlier adoption is prohibited. This FSP will be adopted
by the Company beginning in its fiscal year ending June 30, 2010, as required.
The Company does not expect the adoption of FSP EITF 03-6-1 to have a material
impact on its consolidated financial statements, although it will slightly lower
reported earnings per share.
In December 2007, the FASB issued SFAS No. 141 (Revised 2007), Determining
Whether Instruments Granted in Share-Based Payment Transactions Are
Participating Securities. This FSP states
that unvested share-based payment awards that contain nonforfeitable rights to
dividends or dividend equivalents, whether paid or unpaid, are participating
securities and shall be included in the computation of earnings per share
pursuant to the two-class method. The FSP is effective for financial statements
issued for fiscal years beginning after December 15, 2008, and interim periods
within those years. Upon adoption, a company is required to retrospectively
adjust its earnings per share data (including any amounts related to interim
periods, summaries of earnings and selected financial data) to conform with the
provisions in this FSP. Earlier adoption is prohibited. This FSP will be adopted
by the Company beginning in its fiscal year ending June 30, 2010, as required.
The Company does not expect the adoption of FSP EITF 03-6-1 to have a material
impact on its consolidated financial statements, although it will slightly lower
reported earnings per share.
In December 2007, the FASB issued SFAS No. 141 (Revised 2007), This excerpt taken from the CLX DEF 14A filed Oct 3, 2008. Determining Whether Instruments Granted in Share-Based Payment
Transactions Are Participating Securities.
This FSP states that unvested share-based payment awards that contain
nonforfeitable rights to dividends or dividend equivalents (whether paid or
unpaid) are participating securities and shall be included in the computation of
earnings per share pursuant to the two-class method. The FSP is effective for
financial statements issued for fiscal years beginning after December 15, 2008,
and interim periods within those years. Upon adoption, a company is required to
retrospectively adjust its earnings per share data (including any amounts
related to interim periods, summaries of earnings and selected financial data)
to conform with the provisions in this FSP. Earlier adoption is prohibited. This
FSP will be adopted by the Company beginning in its fiscal year ending June 30,
2010, as required. The Company is currently evaluating the impact FSP EITF
03-6-1 will have on its consolidated financial statements when it becomes
effective.
A-27 NOTE 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued) | EXCERPTS ON THIS PAGE:
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