XML 108 R43.htm IDEA: XBRL DOCUMENT v2.4.1.9
Share Based Compensation (Tables)
 12 Months Ended
Dec. 31, 2014
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Stock options valuation assumptions
The expected term was developed using the simplified method, as permitted by the Securities and Exchange Commission because there is not sufficient historical stock option exercise experience available.
Assumptions:
2012
Expected volatility
59.03
%
Risk-free rate
1.24
%
Expected term (in years)
6.26

Expected dividends
—
Summary of stock options outstanding and stock option activity
A summary of stock options outstanding as of December 31, 2014 and of stock option activity during the fiscal year then ended is presented below:
 
Number of
Options
(000)
 
Weighted
Average
Exercise
Price
 
Weighted
Average
Remaining
Contractual
Term (years)
 
Aggregate
Intrinsic
Value
(millions)
Outstanding at January 1, 2014
4,489

 
$
25.54

 
5.21
 
$
39

Exercised
(420
)
 
11.51

 
 
 
 
Canceled
(69
)
 
39.70

 
 
 
 
Forfeited
(18
)
 
15.36

 
 
 
 
Outstanding at December 31, 2014
3,982

 
$
26.81

 
4.14
 
$
31

Exercisable at December 31, 2014
3,560

 
$
28.12

 
4.77
 
$
26

Vested or expected to vest at December 31, 2014
3,982

 
$
26.77

 
4.17
 
$
31
MSUs valuation assumptions
The expected term represents the period from the valuation date to the end of the performance period.
Assumptions:
2014
 
2013
Expected volatility
54.93
%
 
60.97
%
Risk-free rate
0.63
%
 
0.35
%
Expected term (in years)
2.94

 
2.38

Expected dividends
—

 
—
Schedule of nonvested MSUs outstanding and activity
Nonvested MSUs outstanding as of December 31, 2014 and MSU activity during 2014 were as follows:
 
Weighted
Number
of Shares
(000)
 
Weighted
Average
Grant Date
Fair Value
Nonvested at January 1, 2014
359

 
$
34.55

Granted
364

 
40.20

Vested
(174
)
 
34.29

Forfeited
(38
)
 
37.68

Nonvested at December 31, 2014
511

 
38.43
Summary of nonvested RSUs outstanding and activity
RSUs outstanding as of December 31, 2014 and RSU activity during 2014 were as follows:
 
Number
of Shares
(000)
 
Weighted
Average
Grant Date
Fair Value
Nonvested at January 1, 2014
800

 
$
16.15

Granted
70

 
32.50

Vested
(403
)
 
14.70

Forfeited
(44
)
 
17.17

Nonvested at December 31, 2014
423

 
20.12
Performance based units valuation assumptions
The expected term represents the period from the grant date to the end of the three-year performance period.
Assumptions:
2014
 
2013
 
2012
Expected volatility
54.93
%
 
59.98
%
 
67.63
%
Risk-free rate
0.63
%
 
0.43
%
 
0.36
%
Expected term (in years)
2.94

 
2.88

 
2.89

Expected dividends
—

 
—

 
—
Summary of nonvested performance share outstanding and performance share activity
Nonvested performance shares outstanding as of December 31, 2014 and performance share activity during 2014 were as follows:
 
Weighted
Number
of Shares
(000)
 
Weighted
Average
Grant Date
Fair Value
Nonvested at January 1, 2014
308

 
$
28.36

Granted
111

 
46.46

Vested
(204
)
 
23.00

Forfeited
(12
)
 
42.06

Nonvested at December 31, 2014
203

 
42.82