MOLX » Topics » Stock-Based Compensation

These excerpts taken from the MOLX 10-K filed Aug 6, 2008.
Stock-Based Compensation
 
We have granted nonqualified and incentive stock options and restricted stock to our directors, officers and employees under our stock plans pursuant to the terms of such plans.
 
Stock-Based
Compensation



 



We have granted nonqualified and incentive stock options and
restricted stock to our directors, officers and employees under
our stock plans pursuant to the terms of such plans.


 




This excerpt taken from the MOLX 10-K filed Aug 3, 2006.

Stock-Based Compensation  


We have granted nonqualified and incentive stock options and stock units to our directors, officers and employees under our stock plans pursuant to the terms of such plans.


Prior to July 1, 2005, we had accounted for share-based compensation programs according to the provisions of Accounting Principles Board Opinion (APB) No. 25, “Accounting for Stock Issued to Employees,” as permitted by Statement of Financial Accounting Standards (SFAS) No. 123, “Accounting for Stock-Based Compensation.” Effective July 1, 2005, we adopted the fair value recognition provisions of SFAS No. 123(R), “Share-Based Payment” using the modified-prospective-transition method. Under that transition method, compensation cost recognized in fiscal 2006 included (i) compensation cost for all share-based payments granted prior to, but not yet vested as of July 1, 2005, based on the grant date fair value estimated in accordance with the original provisions of SFAS No. 123, and (ii) compensation cost for all share-based payments granted subsequent to July 1, 2005, based on the grant-date fair value estimated in accordance with the provisions of SFAS No. 123(R). Results for prior periods have not been restated.


As a result of adopting SFAS No. 123(R) on July 1, 2005, share-based compensation cost recognized in selling, general and administrative expense lowered income before income taxes and net income for fiscal 2006 by $13.7 million and $8.9 million, respectively, and lowered basic and diluted earnings per share by $0.05, compared with results if we had continued to account for share-based compensation under APB No. 25.  Additionally, as a result of adopting SFAS No. 123(R), deferred unearned compensation of $31.9 million was reclassified to paid-in capital on July 1, 2005.


The following table illustrates the effect on net income and earnings per share for fiscal 2005 and 2004, had we applied the fair value recognition provisions of SFAS No. 123 (in thousands, except per share data):           


  

2005

 

2004

Net income as reported

$

154,434 

 

$

175,950 

Add: Stock-based compensation included in reported

     
 

net income, net of related tax effects

 

10,618 

  

10,179 

Deduct: Stock-based compensation determined under

     
 

fair value method, net of related tax effects

 

(20,977)

  

(21,020)

Pro forma net income

$

144,075 

 

$

165,109 

Earnings per share:

     
 

Basic

$

0.82 

 

$

0.93 

 

Diluted

$

0.81 

 

$

0.92 

Pro forma earnings per share:

     
 

Basic

$

0.76 

 

$

0.87 

 

Diluted

$

0.76 

 

$

0.86 


This excerpt taken from the MOLX 10-K filed Sep 12, 2005.

Stock-Based Compensation

As permitted by SFAS No. 123, “Accounting for Stock-Based Compensation,” the Company has elected to account for its stock-based compensation programs according to the provisions of Accounting Principles Board (APB) Opinion No. 25, “Accounting for Stock Issued to Employees.” The Company has adopted the disclosure provisions of SFAS No. 148, “Accounting for Stock-Based Compensation - Transition and Disclosure.” Had the Company elected to apply the provisions of SFAS No. 123 as amended by SFAS No. 148 regarding recognition of compensation expense to the extent of the calculated fair value of stock options granted, the effects on reported net income and earnings per share for the years ended June 30 using the Black-Scholes option-pricing model and the assumptions set forth in Note 22 would have been as follows:
-42-

2005
   
2004
   
2003
Net income as reported
$
154,434
   
$
175,950
   
$
84,918
Add: Stock-based compensation included in reported
     
net income, net of related tax effects
10,618
   
10,179
   
9,925
Deduct: Stock-based compensation determined under
     
fair value method, net of related tax effects
(20,977
)
   
(21,020
)
   
(17,433
)
Pro forma net income
$
144,075
   
$
165,109
   
$
77,410
Earnings per share:
     
Basic
$
0.82
   
$
0.93
   
$
0.44
     
Diluted
$
0.81
   
$
0.92
   
$
0.44
Pro forma earnings per share:
     
Basic
$
0.76
   
$
0.87
   
$
0.40
     
Diluted
$
0.76
   
$
0.86
   
$
0.40

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