Stock-Based Compensation Stock-Based Compensation (Tables)

12 Months Ended

Dec. 31, 2014

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Composition of Stock-Based Compensation

Composition of Stock-Based Compensation Expense
	Years Ended December 31,
(In millions)	2014		2013		2012
Corporate expense	$	36	$	25	$	29
Property, general, administrative, and other	96		32		26
Total stock-based compensation expense	$	132	$	57	$	55

Stock Option Activity

Stock Option Activity
(Dollars in millions, except per share data)	Shares		Weighted Average Exercise Price		Fair Value (1)		Weighted Average Remaining Contractual Term (years)	Aggregate Intrinsic Value
Outstanding as of December 31, 2013	8,463,811		$	12.09	$	2.68	8.5
Granted	1,500,770		21.18		10.27
Exercised	(317,703	)	9.10		1.78
Forfeited	(237,202	)	11.30		3.98
Expired	(29,791	)	17.16		2.39
Outstanding as of December 31, 2014	9,379,885		$	13.65	$	3.35	7.8	$	53
Vested and expected to vest as of December 31, 2014	9,060,016		$	12.09	$	3.28	7.8	$	52
Exercisable as of December 31, 2014	3,746,013		$	9.61	$	1.80	7.5	$	25

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⁽¹⁾  Represents the weighted-average grant date fair value per option, using the Monte Carlo simulation option-pricing model for performance-based options, and the Black-Scholes option-pricing model for time-based options.

Stock Option Grants and Exercises

Stock Option Grants and Exercises
	Years Ended December 31,
(Dollars in millions, except per share data)	2014		2013		2012
Options Granted:
Number of options granted	1,500,770		550,812		8,173,944
Weighted Average Grant-Date Fair Value per share (1)	$	10.27	$	5.95	$	3.50
Weighted Average Exercise Price per Share (1)(2)	$	21.18	$	13.65	$	8.44
Option Exercises:
Number of options exercised	317,703		143,109		—
Cash received for options exercised	$	3	$	1	$	—
Aggregate intrinsic value of options exercised	$	2	$	2	$	—

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⁽¹⁾  Represents the weighted-average grant date fair value per option, using the Monte Carlo simulation option-pricing model for performance-based options, and the Black-Scholes option-pricing model for time-based options.

⁽²⁾  Adjusted for the February 2012 1.742-for-1 stock split.

Assumptions Used to Estimate Option Values

Assumptions Used to Estimate Option Values
	Years Ended December 31,
	2014		2013		2012
Expected volatility	52.1	%	57.4	%	55.8	%
Expected dividend yield	—	%	—	%	—	%
Expected term (in years)	5.5		3.8		4.9
Risk-free interest rate	1.7	%	1.0	%	0.9	%

Restricted Stock Unit Activity

Restricted Stock Unit Activity
	Units		Fair Value
Outstanding as of December 31, 2013	1,503,534		$	13.74
Granted	1,183,098		20.82
Vested	(375,500	)	13.74
Forfeited	(154,405	)	16.20
Outstanding as of December 31, 2014	2,156,727		17.45

CIE Stock Option Activity

CIE Stock Option Activity
(Dollars in millions, except per share data)	Shares		Weighted Average Exercise Price		Fair Value (1)		Weighted Average Remaining Contractual Term (years)	Aggregate Intrinsic Value
Outstanding as of December 31, 2013	17,015		$	3,194.48	$	1,124.81	7.3
Granted	1,135		$	9,976.43	$	4,717.02
Exercised	(3,822	)	$	1,649.71	$	249.57
Forfeited	(1,049	)	$	5,767.76	$	2,764.01
Outstanding as of December 31, 2014	13,279		$	3,953.85	$	1,616.01	6.8	$	115
Vested and expected to vest as of December 31, 2014	12,581		$	3,832.25	$	1,544.87	6.7	$	111
Exercisable as of December 31, 2014	6,920		$	2,202.24	$	547.75	5.1	$	72

CIE Stock Option Grants and Exercises

CIE Stock Option Grants and Exercises
	Years Ended December 31,
(Dollars in millions, except per share data)	2014		2013		2012
Options Granted:
Number of options granted	1,135		6,300		1,442
Weighted Average Grant-Date Fair Value per share (1)	$	4,717.02	$	2,620.48	$	2,724.86
Weighted Average Exercise Price per Share	$	9,976.43	$	5,539.98	$	5,360.86
Option Exercises:
Number of options exercised	3,822		365		—
Cash received for options exercised	$	6	$	1	$	—
Aggregate intrinsic value of options exercised	$	27	$	1	$	—

Assumptions Used to Estimate CIE Option Values

Assumptions Used to Estimate CIE Option Value
	Years Ended December 31,
	2014		2013		2012
Expected range of volatility	46.5% - 56.8%		49.7% - 58.6%		59.4% - 61.3%
Expected dividend yield	—	%	—	%	—	%
Expected range of term (in years)	2.4 - 7.1		2.3 - 7.3		4.2 - 7.1
Risk-free interest rate range	0.7% - 2.3%		0.6% - 2.5%		0.6% - 1.2%

CIE Restricted Stock Activity

CIE Restricted Stock Unit Activity
	Units		Fair Value
Outstanding as of December 31, 2013	7,991		$	3,853.00
Granted	1,209		10,019.69
Vested	(3,794	)	4,496.67
Forfeited	(310	)	6,368.06
Outstanding as of December 31, 2014	5,096		6,494.71