Intel would have posted a net profit almost 17 per cent lower if it had expensed stock options in the June quarter, the world's largest chip-maker said in a regulatory filing on Monday.
The California-based company said it would have reported second-quarter net income of $1.46 billion (€1.21 million) instead of $1.76 billion had it expensed stock options under the fair-value method.
The expensing would have reduced its earnings per share by 5 cents to 22 cents, Intel said in a filing with the Securities and Exchange Commission.
Regulators have been pushing for a rule that would require companies to treat employee stock options as an expense, but they have not yet determined what method they will use to value them.
Intel has been among the staunchest opponent of stock-option expensing among high-technology companies.
Earlier this year, Intel shareholders voted to approve a non-binding proposal that called on the company to treat options as an expense.
Within minutes of that vote, Intel chief financial officer Andy Bryant told reporters he would continue to oppose expensing. - (Reuters)
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