XML 49 R33.htm IDEA: XBRL DOCUMENT v3.3.1.900
Share Tracking Award Plans (Tables) - Share tracking award plans (STAP)
12 Months Ended
Dec. 31, 2015
Awards granted under the STAP  
Schedule of assumptions to estimate the fair value of STAP awards

 

                                                                                                                                                                                    

 

 

As of December 31,

 

 

 

2015

 

2014

 

2013

 

Expected volatility

 

 

35.3 

%

 

34.0 

%

 

32.7 

%

Risk-free interest rate

 

 

1.4 

%

 

1.3 

%

 

1.1 

%

Expected term of awards (in years)

 

 

3.4 

 

 

4.0 

 

 

3.9 

 

Expected forfeiture rate

 

 

8.8 

%

 

9.3 

%

 

10.1 

%

Expected dividend yield

 

 

0.0 

%

 

0.0 

%

 

0.0 

%

 

Summary of activity and status of STAP awards

 

                                                                                                                                                                                    

 

 

Number of
Awards

 

Weighted-
Average
Exercise
Price

 

Weighted
Average
Remaining
Contractual
Term
(Years)

 

Aggregate
Intrinsic
Value
(in 000s)

 

Outstanding at January 1, 2015

 

 

7,716,424

 

$

62.59

 

 

 

 

 

 

 

Granted

 

 

1,655,388

 

 

159.68

 

 

 

 

 

 

 

Exercised

 

 

(2,281,711

)

 

56.71

 

 

 

 

 

 

 

Forfeited

 

 

(244,938

)

 

95.37

 

 

 

 

 

 

 

​  

​  

​  

​  

Outstanding at December 31, 2015

 

 

6,845,163

 

$

86.86

 

 

7.3

 

$

487,010

 

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

Exercisable at December 31, 2015

 

 

2,115,571

 

$

67.79

 

 

6.1

 

$

188,683

 

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

Expected to vest at December 31, 2015

 

 

4,306,092

 

$

95.34

 

 

7.9

 

$

271,767

 

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

 

Schedule of share-based compensation expense (benefit) recognized in connection with the STAP

        Share-based compensation expense recognized in connection with the STAP is as follows (in thousands):

                                                                                                                                                                                    

 

 

Year Ended December 31,

 

 

 

2015

 

2014

 

2013

 

Research and development

 

$

87,372

 

$

72,269

 

$

134,355

 

Selling, general and administrative

 

 

178,100

 

 

82,937

 

 

143,407

 

Cost of product sales

 

 

8,706

 

 

4,283

 

 

6,124

 

​  

​  

​  

​  

​  

​  

Share-based compensation expense before taxes

 

 

274,178

 

 

159,489

 

 

283,886

 

Related income tax benefit

 

 

(103,431

)

 

(56,560

)

 

(106,693

)

​  

​  

​  

​  

​  

​  

Share-based compensation expense, net of taxes

 

$

170,747

 

$

102,929

 

$

177,193

 

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

Share-based compensation capitalized as part of inventory

 

$

7,063

 

$

2,027

 

$

1,593

 

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​