Barnes and Noble 2015 Annual Report Download - page 50

As of May , , there was  of total unrecognized
compensation expense related to unvested stock options
granted under the Company’s share-based compensation
plans. That expense is expected to be recognized over a
weighted average period of . years.
The following table presents a summary of the Company’s
restricted stock activity:
Number of Shares
(in thousands)
Weighted Average
Grant Date Fair Value
Balance, April 28, 2012 1,384 $ 19.68
Granted 60 11.52
Vested (866) 20.49
Forfeited (293) 19.24
Balance, April 27, 2013 285 $ 15.91
Granted 61 13.81
Vested (194) 16.15
Forfeited (53) 16.02
Balance, May 3, 2014 99 $ 14.09
Granted 43 22.24
Vested (96) 14.10
Forfeited (3) 13.46
Balance, May 2, 2015 43 $ 22.24
Total fair value of shares of restricted stock that vested
during fiscal , fiscal  and fiscal  was ,,
, and ,, respectively. As of May , , there
was  of unrecognized stock-based compensation
expense related to nonvested restricted stock awards. That
cost is expected to be recognized over a weighted average
period of . years.
The following table presents a summary of the Company’s
restricted stock unit activity:
Number of Shares
(in thousands)
Weighted Average
Grant Date Fair Value
Balance, April 28, 2012 964 $ 16.63
Granted 1,029 16.29
Vested (13) 15.31
Forfeited (102) 18.01
Balance, April 27, 2013 1,878 $ 16.38
Granted 2,469 15.12
Vested (497) 16.76
Forfeited (723) 17.13
Balance, May 3, 2014 3,127 $ 15.15
Granted 291 19.40
Vested (1,054) 15.19
Forfeited (309) 15.94
Balance, May 2, 2015 2,055 $ 15.62
Total fair value of shares of restricted stock units that vested
during fiscal , fiscal  and fiscal  were ,,
, and , respectively. As of May , , there
was , of unrecognized stock-based compensation
expense related to nonvested restricted stock units. That
cost is expected to be recognized over a weighted average
period of . years.
For fiscal , fiscal  and fiscal , stock-based
compensation expense of ,, , and ,,
respectively, is included in selling and administrative
expenses.
4. RECEIVABLES, NET
Receivables represent customer, private and public
institutional and government billings, credit/debit card,
advertising, landlord and other receivables due within one
year as follows:
May 2, 2015 May 3, 2014
Trade accounts $ 43,880 $ 54,375
Credit/debit card receivables 29,993 32,331
EBook settlement receivablea— 28,117
Other receivables 24,703 29,158
Total receivables, net $ 98,576 $ 143,981
a The Company provided credits to eligible customers resulting from
the settlements reached with certain publishers in antitrust lawsuits
filed by various State Attorney Generals and private class plaintiffs
regarding the price of digital books. The Company’s customers were
entitled to $44,203 in total credits as a result of the settlement, which is
funded by these publishers. If a customer’s credit is not used to make
a purchase within one year, the entire credit will expire. The Company
recorded estimated redemptions of $33,646 as a receivable from these
publishers and a liability to its customers in March 2014, all of which
were activated by customers as of March 2015.
5. OTHER LONG-TERM LIABILITIES
Other long-term liabilities consist primarily of deferred
rent, the Microsoft Commercial Agreement financing
transaction (see Note ) and tax liabilities and reserves.
The Company provides for minimum rent expense over the
lease terms (including the build-out period) on a straight-
line basis. The excess of such rent expense over actual
lease payments (net of tenant allowances) is classified as
deferred rent. Other long-term liabilities include store
closing expenses and long-term deferred revenues. The
Company had the following long-term liabilities at May ,
 and May , :
48 Barnes & Noble, Inc. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS continued