MasterCard 2015 Annual Report Download - page 80

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MASTERCARD INCORPORATED
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS – (Continued)
74
Additional Information
The following table includes additional share-based payment information for each of the years ended December 31:
2015 2014 2013
(in millions, except weighted-average fair value)
Share-based compensation expense: Options, RSUs and PSUs. . . . . . . $ 122 $ 111 $ 121
Income tax benefit recognized for equity awards. . . . . . . . . . . . . . . . . . 41 37 42
Income tax benefit related to Options exercised . . . . . . . . . . . . . . . . . . 19 20 16
Options:
Total intrinsic value of Options exercised . . . . . . . . . . . . . . . . . . . . . . . . 57 60 48
RSUs:
Weighted-average grant-date fair value of awards granted. . . . . . . . . . 88 76 52
Total intrinsic value of RSUs converted into shares of Class A
common stock . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 135 173 78
PSUs:
Weighted-average grant-date fair value of awards granted. . . . . . . . . . 99 78 56
Total intrinsic value of PSUs converted into shares of Class A
common stock . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 24 28 29
Note 16. Commitments
At December 31, 2015, the Company had the following future minimum payments due under non-cancelable agreements:
Total
Capital
Leases Operating
Leases
Sponsorship,
Licensing &
Other
(in millions)
2016. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 286 $ 6 $ 38 $ 242
2017. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 154 4 40 110
2018. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 89 1 34 54
2019. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 60 — 29 31
2020. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 38 — 25 13
Thereafter . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 69 — 58 11
Total. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 696 $ 11 $ 224 $ 461
Included in the table above are capital leases with a net present value of minimum lease payments of $11 million. In addition,
at December 31, 2015, $23 million of the future minimum payments in the table above for sponsorship, licensing and other
agreements was accrued. Consolidated rental expense for the Company’s leased office space was $52 million, $48 million and
$38 million for 2015, 2014 and 2013, respectively. Consolidated lease expense for automobiles, computer equipment and office
equipment was $17 million, $17 million and $14 million for 2015, 2014 and 2013, respectively.