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Stock-Based Compensation
 9 Months Ended
Sep. 30, 2013
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Stock-Based Compensation
Stock-Based Compensation
Our stock-based compensation expense consists primarily of time-based and performance-based options of Caesars Entertainment and one of its subsidiaries that have been granted to management, other personnel and key service providers. The Company has recognized compensation expense associated with its stock-based compensation programs as follows:
 
Quarter Ended September 30,
 
Nine Months Ended September 30,
(In millions)
2013
 
2012
 
2013
 
2012
Amounts included in:
 
 
 
 
 
 
 
Corporate expense
$
5.2

 
$
6.3

 
$
8.5

 
$
20.5

Property, general, administrative, and other
3.3

 
3.5

 
9.7

 
22.5

Total stock-based compensation expense
$
8.5

 
$
9.8

 
$
18.2

 
$
43.0


During the three months ended September 30, 2013 and 2012, the Company recorded $2.5 million and $2.0 million, respectively, of expense related to stock-based awards of its subsidiaries, of which $2.1 million and $1.8 million, respectively, related to liability-classified awards that are re-measured to fair value at each reporting date, and $0.4 million and $0.2 million, respectively, related to equity-classified awards that are measured at their fair value at the date of grant.
During the nine months ended September 30, 2013 and 2012, the Company recorded $6.4 million and $18.2 million, respectively, of expense related to stock-based awards of its subsidiaries, of which $4.4 million and $17.3 million, respectively, related to liability-classified awards that are re-measured to fair value at each reporting date, and $2.0 million and $0.9 million, respectively, related to equity-classified awards that are measured at their fair value at the date of grant.
The following is a summary of share-based option activity, including options under the Company's 2008 incentive plan and the Company's 2012 incentive plan and warrants to purchase common stock, for the nine months ended September 30, 2013:
 
Shares 
 
Weighted Average
Exercise Price
Outstanding at December 31, 2012
8,478,148

 
$
12.22

Granted
550,812

 
$
13.65

Exercised
(127,660
)
 
$
8.39

Canceled
(345,107
)
 
$
12.05

Outstanding at September 30, 2013
8,556,193

 
$
12.38

Vested and expected to vest at September 30, 2013
6,753,926

 
$
12.44

Exercisable at September 30, 2013
2,301,361

 
$
15.58


Award Issuances
On June 28, 2013, the Company granted 1.6 million restricted stock units (the "RSUs") to employees of the Company with an aggregate grant date fair value of approximately $21.3 million. Each RSU represents the right to receive payment in respect of one share of the Company's common stock. The majority of the RSUs will vest 25% annually beginning January 2, 2014.