XML 62 R41.htm IDEA: XBRL DOCUMENT v3.3.1.900
Stock-Based Compensation (Tables)
 12 Months Ended
Dec. 31, 2015
Caesars Interactive Entertainment [Member]  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Composition of Stock-Based Compensation
Composition of CIE Stock-Based Compensation Expense
 
Years Ended December 31,
(In millions)
2015
 
2014
 
2013
Total stock-based compensation expense
$
60

 
$
87

 
$
25
Stock Option Activity
CIE Stock Option Activity
 
Shares
 
Weighted Average Exercise Price
 
Weighted Average Remaining Contractual Term (years)
 
Aggregate Intrinsic Value
(in millions)
Outstanding as of December 31, 2014
13,279

 
$
3,953.85

 
6.8
 
 
Granted
10,350

 
15,352.49

 
 
 
 
Exercised
(1,984
)
 
2,424.20

 
 
 
 
Forfeited
(588
)
 
8,106.90

 
 
 
 
Outstanding as of December 31, 2015
21,057

 
$
9,584.64

 
7.8
 


Vested and expected to vest as of December 31, 2015
20,179

 
$
9,620.68

 
7.8
 
$
124

Exercisable as of December 31, 2015
6,292

 
$
2,790.08

 
4.7
 
Stock Option Grants and Exercises
CIE Stock Option Grants and Exercises
 
Years Ended December 31,
(Dollars in millions, except per share data)
2015
 
2014
 
2013
Options Granted:
 
 
 
 
 
Number of options granted
10,350

 
1,135

 
6,300

Weighted Average Grant-Date Fair Value per share (1)
$
4,670.27

 
$
4,717.02

 
$
2,620.48

Weighted Average Exercise Price per Share
$
15,352.49

 
$
9,976.43

 
$
5,539.98

 
 
 
 
 
 
Option Exercises:
 
 
 
 
 
Number of options exercised
1,984

 
3,822

 
365

Cash received for options exercised
$
5

 
$
6

 
$
1

Aggregate intrinsic value of options exercised
$
21

 
$
27

 
$
1


____________________
(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
CIE Stock Option Grants and Exercises
 
Years Ended December 31,
(Dollars in millions, except per share data)
2015
 
2014
 
2013
Options Granted:
 
 
 
 
 
Number of options granted
10,350

 
1,135

 
6,300

Weighted Average Grant-Date Fair Value per share (1)
$
4,670.27

 
$
4,717.02

 
$
2,620.48

Weighted Average Exercise Price per Share
$
15,352.49

 
$
9,976.43

 
$
5,539.98

 
 
 
 
 
 
Option Exercises:
 
 
 
 
 
Number of options exercised
1,984

 
3,822

 
365

Cash received for options exercised
$
5

 
$
6

 
$
1

Aggregate intrinsic value of options exercised
$
21

 
$
27

 
$
1


____________________
(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. 
Assumptions Used to Estimate Option Values
Assumptions Used to Estimate CIE Option Value
 
Years Ended December 31,
 
2015
 
2014
 
2013
Expected range of volatility
42.9% - 49.4%

 
46.5% - 56.8%

 
49.7% - 58.6%

Expected dividend yield
—
%
 
—
%
 
—
%
Expected range of term (in years)
1.5 - 4.7

 
2.4 - 7.1

 
2.3 - 7.3

Risk-free interest rate range
0.7% - 1.7%

 
0.7% - 2.3%

 
0.6% - 2.5%
Restricted Stock Unit Activity
CIE Restricted Stock Unit Activity
 
Units
 
Wtd Avg Fair Value
Outstanding as of December 31, 2014
5,096

 
$
6,494.71

Granted
924

 
13,161.70

Vested
(1,025
)
 
6,004.02

Forfeited
(456
)
 
7,649.01

Outstanding as of December 31, 2015
4,539

 
7,827.24
Parent [Member]  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Composition of Stock-Based Compensation
Composition of Caesars Entertainment Stock-Based Compensation Expense
 
Years Ended December 31,
(In millions)
2015
 
2014
 
2013
Corporate expense
$
57

 
$
36

 
$
25

Property, general, administrative, and other
5

 
9

 
7

Total stock-based compensation expense
$
62

 
$
45

 
$
32
Stock Option Activity
Caesars Entertainment Stock Option Activity
 
Shares
 
Weighted Average Exercise Price
 
Weighted Average Remaining Contractual Term (years)
 
Aggregate Intrinsic Value
(in millions)
Outstanding as of December 31, 2014
9,379,885

 
$
13.65

 
7.8
 
 
Granted
1,844,332

 
10.04

 
 
 
 
Exercised
(58,700
)
 
8.22

 
 
 
 
Forfeited
(327,934
)
 
12.76

 
 
 
 
Expired
(199,364
)
 
23.29

 
 
 
 
Outstanding as of December 31, 2015
10,638,219

 
$
12.90

 
6.8
 


Vested and expected to vest as of December 31, 2015
10,250,794

 
$
11.59

 
7.3
 
$
1

Exercisable as of December 31, 2015
5,744,384

 
$
9.51

 
6.8
 
Stock Option Grants and Exercises
Caesars Entertainment Stock Option Grants and Exercises
 
Years Ended December 31,
(Dollars in millions, except per share data)
2015
 
2014
 
2013
Options Granted:
 
 
 
 
 
Number of options granted
1,844,332

 
1,500,770

 
550,812

Weighted Average Grant-Date Fair Value per share (1)
$
3.38

 
$
10.27

 
$
5.95

Weighted Average Exercise Price per Share (1)
$
10.04

 
$
21.18

 
$
13.65

 
 
 
 
 
 
Option Exercises:
 
 
 
 
 
Number of options exercised
58,700

 
317,703

 
143,109

Cash received for options exercised (2)
$
—

 
$
3

 
$
1

Aggregate intrinsic value of options exercised (2)
$
—

 
$
2

 
$
2

____________________
(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) 
2015 amounts are immaterial.
Stock Option Grants and Exercises
Caesars Entertainment Stock Option Grants and Exercises
 
Years Ended December 31,
(Dollars in millions, except per share data)
2015
 
2014
 
2013
Options Granted:
 
 
 
 
 
Number of options granted
1,844,332

 
1,500,770

 
550,812

Weighted Average Grant-Date Fair Value per share (1)
$
3.38

 
$
10.27

 
$
5.95

Weighted Average Exercise Price per Share (1)
$
10.04

 
$
21.18

 
$
13.65

 
 
 
 
 
 
Option Exercises:
 
 
 
 
 
Number of options exercised
58,700

 
317,703

 
143,109

Cash received for options exercised (2)
$
—

 
$
3

 
$
1

Aggregate intrinsic value of options exercised (2)
$
—

 
$
2

 
$
2

____________________
(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) 
2015 amounts are immaterial.
Assumptions Used to Estimate Option Values
Caesars Entertainment Assumptions Used to Estimate Option Values
 
Years Ended December 31,
 
2015
 
2014
 
2013
Expected volatility
42.0
%
 
52.1
%
 
57.4
%
Expected dividend yield
—
%
 
—
%
 
—
%
Expected term (in years)
5.7

 
5.5

 
3.8

Risk-free interest rate
1.6
%
 
1.7
%
 
1.0
%
Restricted Stock Unit Activity
 
Units
 
Wtd Avg Fair Value
Outstanding as of December 31, 2014
2,156,727

 
$
17.45

Granted
5,169,322

 
10.50

Vested
(609,753
)
 
16.85

Forfeited
(386,861
)
 
13.69

Outstanding as of December 31, 2015
6,329,435

 
12.06