text: fair value or intrinsic value, which generally leads to no expense being recorded. The 
  Company opted to use this intrinsic value method and make required disclosures of 
  fair value expense. SFAS 123(R) eliminates this intrinsic value alternative. SFAS 
  123(R) is effective for the Company on July 1, 2005, at which time all future 
  share-based payments must be recorded at fair value. 
  
  The Company has adopted nonqualified stock option plans and incentive stock 
  option plans which provide for the granting of stock options to eligible directors, 
  officers and employees. The plans are administered by the Compensation and Stock 
  Option Committee of the Board of Directors. Salaried officers, directors and other 
  key employees of the Company and its subsidiaries are eligible to receive options. 
  The exercise price in each instance is 100% of the fair market value of the 
  Company’s common stock on the date of grant. The options have 10-year terms 
  and in most cases are exercisable in either four or five equal annual installments. 
  
  As of December 31, 2004, the aggregate number of stock options available for grant 
  was 2.2 million. A summary of the status of the Company’s stock option plans is 
  presented below: 