The financial statements of Marks and Spencer plc (M&S) are available at the book’s companion website or can be accessed at http://annualreport.marksandspencer.com/_assets/downloads/ Marks-and-Spencer-Annual-report-and-financial-statements-2012.pdf.

Instructions
Refer to M&S’s financial statements and the accompanying notes to answer the following questions.

  (a) Under M&S’s share-based compensation plan, share options are granted annually to key managers and directors.

(1) How many options were granted during 2012 under the plan?
(2) How many options were exercisable at 31 March 2012?
(3) How many options were exercised in 2012, and what was the average price of those exercised?
(4) How many years from the grant date do the options expire?
(5) To what accounts are the proceeds from these option exercises credited?
(6) What was the number of outstanding options at 31 March 2012, and at what average exercise price?

  (b) What number of diluted weighted-average shares outstanding was used by M&S in computing earnings per share for 2012 and 2011? What was M&S’s diluted earnings per share in 2012 and 2011?
  (c) What other share-based compensation plans does M&S have?