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 |
AmSouth
Bancorporation and Subsidiaries
Notes to Consolidated Financial Statements |
| For purposes of pro forma disclosures, the estimated fair value of the
options is amortized to expense over the options’ vesting period.
|
AmSouth’s pro forma information follows (in thousands except for
earnings per share information): |
 |
 |
|
|
2000
|
1999
|
1998
|
|
| Net income: |
|
|
|
|
|
As reported |
$ 329,127 |
$ 340,468 |
$ 474,074 |
|
Pro forma |
319,120 |
315,232 |
465,272 |
| Earnings per common share: |
|
|
|
|
As reported |
$ 0.86 |
$ 0.87 |
$ 1.22 |
|
Pro forma |
0.84 |
0.81 |
1.19 |
| Diluted earnings per common share: |
|
|
|
|
As reported |
$ 0.86 |
$ 0.86 |
$ 1.20 |
|
Pro forma |
0.83 |
0.80 |
1.17 |
|
|
| The following table summarizes AmSouth’s stock option activity
and related information during 1998, 1999 and 2000: |
|
|
|
|
Number
|
Option Price
|
Weighted-Average
|
|
of Shares
|
per Share
|
Exercise Price
|
|
| Balance at January 1, 1998 |
|
11,825,697 |
$ 2.47 - $25.52
|
$ 10.13 |
| Options exercised |
(2,227,431) |
4.67 - 27.43
|
18.89 |
| Options forfeited |
(407,883) |
4.67 - 27.49
|
16.85 |
| Options granted |
2,062,817 |
19.07 - 27.49
|
24.97 |
|
|
| Balance at December 31, 1998 |
11,253,200 |
2.47 - 27.49
|
12.83 |
| Options exercised |
(1,964,123) |
2.47 - 24.52
|
20.88 |
| Options forfeited |
(866,531) |
3.69 - 27.49
|
17.18 |
| Options granted |
5,576,049 |
22.08 - 32.92
|
23.31 |
|
|
| Balance at December 31, 1999 |
13,998,595 |
2.91 - 32.92
|
16.94 |
| Options exercised |
(2,319,473) |
2.91 - 17.84
|
9.31 |
| Options forfeited |
(2,855,369) |
6.11 - 27.49
|
20.12 |
| Options granted |
7,821,044 |
12.00 - 19.19
|
16.08 |
|
|
| Balance at December 31, 2000 |
16,644,797 |
$ 3.17 - $32.92
|
$ 17.01 |
|
|
|
|
| Of the options outstanding at December 31, 2000, those options granted
since October 1, 1999, have vesting periods between one and three years
from the date of grant. All other options outstanding were exercisable. |
At December 31, 2000 and 1999, options exercisable totaled 8,668,858
and 12,677,731, respectively, and had a weighted-average option price
per share of $17.07 and $16.18, respectively. |
|
|
|
|