AMD 2014 Annual Report Download - page 107

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Included in the table above are approximately 322,000 shares of restricted stock granted upon the
acquisition of SeaMicro in 2012. The weighted-average estimated fair value of the restricted stock was $4.03.
The total fair value of restricted stock and restricted stock units vested during 2014, 2013 and 2012 was $60
million, $36 million and $60 million, respectively. Compensation expense recognized for the restricted stock and
restricted stock units for 2014, 2013 and 2012 was approximately $65 million, $68 million and $77 million,
respectively.
As of December 27, 2014, the Company had $16 million of total unrecognized compensation expense, net
of estimated forfeitures, related to stock options that will be recognized over the weighted-average period of 2.08
years.
As of December 27, 2014, the Company had $98 million of total unrecognized compensation expense, net
of estimated forfeitures, related to restricted stock and restricted stock units that will be recognized over the
weighted-average period of 1.75 years.
The summary of the changes in the pRSUs during 2014, 2013 and 2012 is presented below.
2014 2013 2012
(Shares in millions)
Unvested shares at beginning of period ......................... 5 2 —
Granted .............................................. 5 3 2
Forfeited ............................................. (1) — —
Vested ............................................... — — —
Unvested shares at end of period .............................. 9 5 2
NOTE 14: Other Employee Benefit Plans
The Company has a retirement savings plan, commonly known as a 401(k) plan, that allows participating
employees in the United States to contribute up to 100% of their pre-tax salary subject to Internal Revenue
Service limits. The Company matched 75% of employees’ contributions up to 6% of their compensation, to a
maximum match of $11,700, $11,475 and $11,250 for 2014, 2013 and 2012, respectively, which is 4.5% (75% of
the 6%) of the Internal Revenue Service compensation limit. The Company’s contributions to the 401(k) plan for
2014, 2013 and 2012 were approximately $18 million, $19 million and $22 million, respectively.
NOTE 15: Commitments and Guarantees
Operating Leases
As of December 27, 2014, the Company’s future non-cancelable operating lease commitments, including
those for facilities vacated in connection with restructuring activities, were as follows:
Year
Operating
leases
(In millions)
2015 ............................................................. $ 50
2016 ............................................................. 46
2017 ............................................................. 43
2018 ............................................................. 41
2019 ............................................................. 27
2019 and thereafter .................................................. 133
Total non-cancelable operating lease commitments ........................ $ 340
The Company leases certain of its facilities and in some jurisdictions the Company leases the land on which
these facilities are built, under non-cancelable lease agreements that expire at various dates through 2025. The
Company also leases certain manufacturing and office equipment for terms ranging from one to five years. Rent
expense for 2014, 2013 and 2012 was $59 million, $64 million and $49 million, respectively.
101