XML 60 R35.htm IDEA: XBRL DOCUMENT v3.6.0.2
Stock Compensation Plans (Tables)
 12 Months Ended
Dec. 31, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Schedule of share-based compensation expense recognized in the consolidated statements of operations
Total stock-based compensation expense recognized in the "Cost of services" and “Selling, general, and administrative” line items of the consolidated statements of operations resulting from stock options, non-vested restricted stock awards, and non-vested restricted stock units was as follows for the periods presented:
Year ended December 31,
 (in millions) 
 
Cost of services
 
Selling, general, and administrative
 
Total
2016 (a)
 
$
112

 
$
151

 
$
263

2015 (b)
 
130

 
199

 
329

2014 (c)
 
2

 
49

 
51


(a)
Approximately $52 million of stock-based compensation expense was recognized in conjunction with the IPO.
(b) Approximately $254 million was recognized in conjunction with the IPO and $14 million of stock-based compensation expense was recognized as a result of the departure of certain executive officers.
(c)
Approximately $37 million of stock-based compensation expense was recognized as a result of the departure of certain executive officers.

Schedule of weighted-average assumptions for estimating fair value of stock options granted
The fair value of stock options granted for the years ended December 31, 2016, 2015, and 2014 were estimated at the date of grant using a Black-Scholes option pricing model with the following weighted-average assumptions:
 

Year ended December 31,
 

2016
 
2015
 
2014
Risk-free interest rate

2.08
%

1.87
%

2.24
%
Dividend yield

—


—


—

Expected volatility

41.33
%

55.15
%

50.45
%
Expected term (in years)

7


7


7

Fair value of stock

$
12.62


$
15.53


$
12.64

Fair value of options

$
5.33


$
8.68


$
6.76
Summary of stock option activity
A summary of stock option activity for the years ended December 31, 2016 and 2015 was as follows:
(options in millions)
 
Options
 
Weighted-Average
 Exercise Price
 
Weighted-Average
Remaining
Contractual
 Term
 
Aggregate Intrinsic Value (in millions)
Outstanding as of December 31, 2014
 
32

 
$
10.75

 
 
 
 
Granted
 
11

 
15.53

 
 
 
 
Exercised
 
(1
)
 
9.86

 
 
 
 
Canceled / Forfeited
 
(1
)
 
11.25

 
 
 
 
Outstanding as of December 31, 2015
 
41

 
$
11.94

 
7 years
 
$
166

Granted
 
2

 
12.62

 
 
 
 
Exercised
 
(2
)
 
9.86

 
 
 
 
Canceled / Forfeited
 
(2
)
 
15.39

 
 
 
 
Outstanding as of December 31, 2016 (a)
 
39

 
$
12.00

 
6 years
 
$
98

Options exercisable as of December 31, 2016 (a)
 
22

 
$
10.78

 
5 years
 
$
76


(a)
Includes 2 million of outstanding options subject to the market conditions described above. There are no exercisable options subject to these market conditions.
Summary of restricted stock award and restricted stock unit activity
A summary of restricted stock award and restricted stock unit activity for the years ended December 31, 2016 and 2015 is as follows:
(awards/units in millions)
 
Awards/Units
 
Weighted-Average
 Grant-Date Fair Value
Non-vested as of December 31, 2014
 
15

 
$
11.98

Granted
 
19

 
14.96

Vested
 
(1
)
 
15.04

Canceled / Forfeited
 
(1
)
 
14.02

Non-vested December 31, 2015
 
32

 
$
14.30

Granted
 
18

 
12.49

Vested
 
(10
)
 
13.91

Canceled / Forfeited
 
(6
)
 
13.74

Non-vested as of December 31, 2016 (a)
 
34

 
$
13.59


(a)
Includes 1 million of shares subject to the market conditions described above.