C8.7. CiscoSystems, the networking equipment firm, reported a tax benefit from the exerciseofstockoptions of$537 million in its
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C8.7. CiscoSystems, the networking equipment firm, reported a tax benefit from the exerciseofstockoptions of$537 million in its fiscal 2004shareholders' equity statement.
Overthe previous years, the taxbenefits hadcutmorethan25percent off the firm's tax bills.Commentators Saw this tax reliefas a majorsource of valueforthe shareholders. Is this correct?
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Financial Statement Analysis And Security Valuation
ISBN: 9780071267809
4th International Edition
Authors: Penman-Stephen-H, Steven Penman
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