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Corporate Information
We have accrued for the potential repatriation of undistributed earnings of our foreign subsidiaries and consider earnings above the amounts on which tax has been provided to be permanently reinvested. While these additional earnings could become subject to additional tax if repatriated, repatriation is not anticipated. Any additional amount of tax is not practicable to estimate.

We have net operating loss carryforwards of $95 million which expire in 2002 through 2009. We also have net operating loss carryforwards of $25 million with indefinite expiration dates. Reconciliations between the actual provision for income taxes and that computed by applying the United States statutory rate to income from continuing operations before income taxes and minority interest are as follows:



NOTE 14.
COMMON STOCK

Our 1993 Stock and Long-Term Incentive Plan provides for the grant of any or all of the following types of awards:
  • stock options, including incentive stock options and non-qualified stock options;
  • stock appreciation rights, in tandem with stock options or freestanding;
  • restricted stock;
  • performance share awards; and
  • stock value equivalent awards.
Under the terms of the 1993 Stock and Long-Term Incentive Plan as amended, 49 million shares of common stock have been reserved for issuance to key employees. The plan specifies that no more than 16 million shares can be awarded as restricted stock. At December 31, 2001, 22 million shares were available for future grants under the 1993 Stock and Long-Term Incentive Plan of which 11 million shares remain available for restricted stock awards.

In connection with the acquisition of Dresser Industries, Inc. in 1998, we assumed the outstanding stock options under the stock option plans maintained by Dresser Industries, Inc. Stock option transactions summarized below include amounts for the 1993 Stock and Long-Term Incentive Plan and stock plans of Dresser Industries, Inc. and other acquired companies. No further awards are being made under the stock plans of acquired companies.



Options outstanding at December 31, 2001 are composed of the following:



There were 8.8 million options exercisable with a weighted average exercise price of $32.81 at December 31, 2000, and 9.5 million options exercisable with a weighted average exercise price of $28.96 at December 31, 1999.

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