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Stockholders' Equity (Tables)
12 Months Ended
Dec. 31, 2016
Equity [Abstract]  
Weighted-Average Grant Date Fair Value of Stock Options and Related Assumptions

The following table presents the weighted-average grant date fair value of stock options and the related assumptions used to estimate the fair value in our consolidated financial statements:

 

 

 

Year Ended December 31,

 

 

 

2016

 

 

2015

 

 

2014

 

Expected term, in years

 

 

6

 

 

 

6

 

 

 

5

 

Risk-free interest rates

 

 

1.53

%

 

 

1.65

%

 

 

1.31

%

Expected volatility

 

 

50

%

 

 

53

%

 

 

56

%

Dividend yield

 

 

 

 

 

 

 

 

 

Weighted-average estimated fair value of options granted

   during the year

 

$

1.30

 

 

$

1.51

 

 

$

3.44

 

 

Stock-Based Expense Related to Grants of Employee and Consultant Stock Options, Restricted Stock and ZSUs

We recorded stock-based expense related to grants of employee and consultant stock options, restricted stock and ZSUs in our consolidated statements of operations as follows (in thousands):

 

 

 

Year Ended December 31,

 

 

 

2016

 

 

2015

 

 

2014

 

Cost of revenue

 

$

3,720

 

 

$

4,547

 

 

$

4,623

 

Research and development

 

 

84,236

 

 

 

94,548

 

 

 

83,673

 

Sales and marketing

 

 

7,254

 

 

 

7,501

 

 

 

5,927

 

General and administrative

 

 

12,251

 

 

 

24,979

 

 

 

35,010

 

Total stock-based expense

 

$

107,461

 

 

$

131,575

 

 

$

129,233

 

 

Schedule of Share Based Compensation Stock Option Activity

The following table shows stock option activity for 2016 (in thousands, except weighted-average exercise price and remaining contractual term):

 

 

 

Outstanding Options

 

 

 

 

 

 

 

Weighted-

 

 

Aggregate

 

 

Weighted-

 

 

 

 

 

 

 

Average

 

 

Intrinsic Value of

 

 

Average

 

 

 

 

 

 

 

Exercise

 

 

Stock Options

 

 

Contractual Term

 

 

 

Stock Options

 

 

Price

 

 

Outstanding

 

 

(in years)

 

Balance as of December 31, 2015

 

 

23,215

 

 

$

1.93

 

 

$

35,949

 

 

 

5.36

 

Granted

 

 

21,300

 

 

 

2.63

 

 

 

 

 

 

 

 

 

Forfeited and cancelled

 

 

(3,635

)

 

 

6.33

 

 

 

 

 

 

 

 

 

Exercised

 

 

(4,022

)

 

 

0.34

 

 

 

 

 

 

 

 

 

Balance as of December 31, 2016

 

 

36,858

 

 

$

2.08

 

 

$

26,411

 

 

 

6.81

 

As of December 31, 2016

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Exercisable options

 

 

15,768

 

 

$

1.30

 

 

$

24,892

 

 

 

3.28

 

Vested and expected to vest

 

 

27,521

 

 

$

1.88

 

 

$

25,815

 

 

 

5.89

 

 

Schedule of Share Based Compensation Restricted Stock Units Award Activity

The following table shows a summary of ZSU activity for  2016 (in thousands, except weighted-average fair value and remaining term):

 

 

 

Outstanding ZSUs

 

 

 

 

 

 

 

Weighted-

Average Grant Date

 

 

Aggregate

Intrinsic Value of

 

 

 

 

 

 

 

Fair

 

 

Unvested

 

 

 

Shares

 

 

Value

 

 

ZSUs

 

Unvested as of December 31, 2015

 

 

62,436

 

 

$

3.06

 

 

$

167,328

 

Granted

 

 

42,260

 

 

 

2.41

 

 

 

 

 

Vested

 

 

(32,357

)

 

 

2.74

 

 

 

 

 

Forfeited and cancelled

 

 

(12,887

)

 

 

3.59

 

 

 

 

 

Unvested as of December 31, 2016

 

 

59,452

 

 

$

2.66

 

 

$

152,792

 

 

Common Stock Reserved for Future Issuance

As of December 31, 2016, we had reserved shares of common stock for future issuance as follows (in thousands):

 

 

 

December 31, 2016

 

Stock options outstanding

 

 

36,858

 

ZSUs outstanding

 

 

59,452

 

2011 Equity Incentive Plan

 

 

99,447

 

2011 Employee Stock Purchase Plan

 

 

78,013

 

 

 

 

273,770

 

 

Schedule of Accumulated Other Comprehensive Income Loss

The components of accumulated other comprehensive income, net of taxes, were as follows (in thousands):

 

 

 

Foreign

Currency

Translation

 

 

Unrealized

Gains (Losses)

on Available-

for-Sale

Securities

 

 

Total

 

Balance as of December 31, 2014

 

$

(28,781

)

 

$

(394

)

 

$

(29,175

)

Other comprehensive income (loss) before reclassifications

 

 

(23,480

)

 

 

307

 

 

 

(23,173

)

Amounts reclassified from accumulated other comprehensive

   income (loss)

 

 

 

 

 

(40

)

 

 

(40

)

Net current-period other comprehensive income (loss)

 

 

(23,480

)

 

 

267

 

 

 

(23,213

)

Balance as of December 31, 2015

 

$

(52,261

)

 

$

(127

)

 

$

(52,388

)

Other comprehensive income (loss) before reclassifications

 

 

(76,410

)

 

 

105

 

 

 

(76,305

)

Amounts reclassified from accumulated other comprehensive

   income (loss)

 

 

 

 

 

(1

)

 

 

(1

)

Net current-period other comprehensive income (loss)

 

 

(76,410

)

 

 

104

 

 

 

(76,306

)

Balance as of December 31, 2016

 

$

(128,671

)

 

$

(23

)

 

$

(128,694

)