I'm always trying to find this, so I'm copying it here.
| Compiler Option | Flash Player Version | AIR version |
| -swf-version=9 | 9.0.115.0 | N/A |
| -swf-version=10 | 10.0, 10.1 | 1.5, 2.0 |
| -swf-version=11 | 10.2 | 2.6 |
| -swf-version=12 | 10.3 | 2.7 |
| -swf-version=13 | 11.0 | 3 |
| -swf-version=14 | 11.1 | 3.1 |
| -swf-version=15 | 11.2 | 3.2 |
| -swf-version=16 | 11.3 | 3.3 |
| -swf-version=17 | 11.4 | 3.4 |
| -swf-version=18 | 11.5 | 3.5 |
| -swf-version=19 | 11.6 | 3.6 |
| -swf-version=20 | 11.7 | 3.7 |
| -swf-version=21 | 11.8 | 3.8 |
| -swf-version=22 | 11.9 | 3.9 |
| -swf-version=23 | 12 | 4 |
| -swf-version=24 | 13 | 13 |
| -swf-version=25 | 14 | 14 |
| -swf-version=26 | 15 | 15 |
| -swf-version=27 | 16 | 16 |
| -swf-version=28 | 17 | 16 |
