Income Stmt. of Consol. Financial Position Stmt. of Consol. Cash Flows Stmt. of Changes in Common Stckhldr's Equity Notes to the Financial Stmts. Accounting Principles Board Opinion 25 and related interpretations in accounting for its stock plans. Options are granted at market value on the grant date and are exercisable for a period of 10 years from the grant date.
Options generally become exercisable no earlier than one year after grant.
These awards are subject to forfeiture if employment terminates during the prescribed retention period or, in some cases, if certain prescribed stock price or other financial criteria are not met. Restricted stock awards are issued to non-employee directors and subject to forfeiture if certain service requirements are not met. No retention or restricted shares were issued in 1997. A portion of the retention awards issued in 1999 and 1998 are subject to stock price or performance targets. The cost of retention shares is amortized to expense over the vesting period.