|
|
 | | | |
- close
- close
- close
- close
This excerpt taken from the PBI 10-K filed Mar 1, 2007. Accounting for Stock Issued to Employees. The revised statement addresses the accounting for share-based payment transactions with employees and other third parties, eliminates the ability to account for share-based transactions using APB 25 and requires that the compensation costs relating to such transactions be recognized in the condensed consolidated financial statements. SFAS 123(R) requires compensation cost to be recognized immediately for awards granted to retirement eligible employees or over the period from the grant date to the date retirement eligibility is achieved, if that is expected to occur during the nominal
vesting period. We adopted the provisions of SFAS 123(R) on January 1, 2006 using the modified retrospective application. Prior to our adoption of SFAS 123(R), we used the nominal vesting period approach to determine the pro forma stock-based compensation expense for all awards. SFAS 123(R) also requires additional disclosures relating to the income tax and cash flow effects resulting from share-based payments. See Note 12 for further disclosures related to our stock-based compensation.
In May 2005, the FASB issued SFAS No. 154, |
| |||||||
