Stock-Based and Employee Savings Plans (Tables)

12 Months Ended

Dec. 31, 2015

The following table summarizes stock option activity under our equity incentive plans as of and for the year ended December 31, 2015:



	Shares		Weighted Average Exercise Price			Weighted Average Remaining Contractual Term (Years)	Aggregate Intrinsic Value
	(In millions, except per share amounts and years)
Outstanding as of January 1, 2015	10		$	34.14
Granted and assumed	2		$	49.59	⁽¹⁾
Exercised	(6	)	$	18.46	⁽¹⁾
Forfeited/expired/canceled	(1	)	$	29.44	⁽¹⁾
Adjustment due to the Distribution	2
Outstanding as of December 31, 2015	7		$	20.05		4.31	$	50
Expected to vest	6		$	19.88		4.22	$	48
Options exercisable	4		$	17.44		2.98	$	37

(1) Weighted average exercise price is calculated using exercise prices prior to the Distribution and after the Distribution.

Schedule of Restricted Stock Units

A summary of the status of restricted stock units ("RSU") granted (including performance-based restricted stock units that have been earned) under our equity incentive plans as of December 31, 2015 and changes during the year ended December 31, 2015 is presented below:



	Units		Weighted Average Grant-Date Fair Value (per share)
	(In millions, except per share amounts)
Outstanding as of January 1, 2015	36		$	50.21
Awarded and assumed	19		$	53.67	⁽¹⁾
Vested	(14	)	$	39.42	⁽¹⁾
Forfeited	(15	)	$	31.18	⁽¹⁾
Adjustment due to the Distribution	10
Outstanding as of December 31, 2015	36		$	22.50
Expected to vest at December 31, 2015	29

(1) Weighted average grant date fair value is calculated using grant date fair value prior to the Distribution and after the Distribution.

Schedule of Stock-Based Compensation Expense

The impact on our results of operations of recording stock-based compensation expense for years ended December 31, 2015, 2014 and 2013 was as follows:



	Year Ended December 31,
	2015		2014		2013
	(In millions)
Cost of net revenues	$	38	$	33	$	27
Sales and marketing	94		93		67
Product development	108		116		97
General and administrative	139		102		107
Total stock-based compensation expense	$	379	$	344	$	298
Capitalized in product development	$	13	$	12	$	10

Schedule of Weighted Average Assumptions Used

The following weighted average assumptions were used for the years ended December 31, 2015, 2014 and 2013:



	Year Ended December 31,
	2015		2014		2013
Risk-free interest rate	1.4	%	1.2	%	0.6	%
Expected life (in years)	4.1		4.1		4.1
Dividend yield	—	%	—	%	—	%
Expected volatility	27	%	29	%	34	%