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CGG HOLDING (U.S.) INC.
|
10-K
Oct 4, 5:08 PM ET
VERITAS DGC INC 10-K
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Contents
43
PART I
ITEM 1. Business
Merger Agreement
General
Services and Markets
Principal Operating Assets
Technology and Capital Expenditures
Competition
Backlog
Significant Customers
Employees
Our SEC Reporting
ITEM 1A. Risk Factors
ITEM 1B. Unresolved Staff Comments
ITEM 2. Properties
ITEM 3. Legal Proceedings
PART II
ITEM 5. Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities
Market Price of and Dividends on the Registrants Common Equity and Related Stockholder Matters
Issuer Purchases of Equity Securities by the Issuer and Affiliated Purchasers
ITEM 6. Selected Consolidated Financial Data
ITEM 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations
Results of Operations
Deferred Tax Asset
Software Capitalization and Amortization
As of August 1, 2005, we adopted the Financial Accounting Standard Board Statement No. 123(R) (SFAS 123R) to account for share based compensation. SFAS 123R requires us to record the cost of stock options and other equity-based compensation in our income statement based upon the estimated fair value of those awards. We elected to use the modified prospective method for adoption, which requires compensation expense to be recorded for all unvested stock options and other equity-based compensation beginning in the first quarter of adoption. For all unvested options outstanding as of August 1, 2005, the previously measured but unrecognized compensation expense, based on the fair value at the original grant date, we began recognizing in the statement of operations over the remaining vesting period. For equity-based compensation granted subsequent to August 1, 2005, compensation expense, based on the fair value on the date of grant, we began recognizing in the statement of operations over the vesting period. Determining the fair value of stock based awards at the grant date requires judgment, including estimating the expected term of stock options, the expected volatility of our stock and the amount of stock options to be forfeited. If actual results differ significantly from these estimates, share based compensation expense and the results of operations could be materially impacted. As of July 31, 2006, there was approximately $7.3 million of total unrecognized compensation cost related to nonvested share-based compensation arrangements. That cost is expected to be recognized on a straight line basis over the weighted average remaining period which is approximately 2 years.
ITEM 7A. Quantitative and Qualitative Disclosures Regarding Market Risk
ITEM 8. Consolidated Financial Statements and Supplementary Data
Report of Independent Registered Public Accounting Firm
VERITAS DGC INC. AND SUBSIDIARIES
ITEM 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure
ITEM 9A. Controls and Procedures
ITEM 9B. Other Information
PART III
ITEM 10. Directors and Executive Officers of the Registrant
ITEM 11. Executive Compensation
Securities Authorized for Issuance Under Equity Compensation Plans
ITEM 13. Certain Relationships and Related Transactions
ITEM 14. Principal Accountant Fees and Services
PART IV
ITEM 15. Exhibits and Financial Statement Schedules
ITEM 4. Submission of Matters to a Vote of Security Holders
ITEM 12. Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters