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ThefairvalueofstockoptiongrantshasbeenestimatedatthedateofgrantusingtheBlack–Scholesoptionpricingmodelwiththefollowingweighted
averageassumptionsfortheperiodspresented:
December 31,
2015 2014 2013
Riskfreeinterestrate   1.58%  1.79%  1.41%
Expectedterm(inyears)   5.42   5.80   6.06
Expectedvolatility   41.79%  44.04%  50.78%
Expecteddividendyield —%  —%  —%
Theweighted-averagegrantdatefairvalueofoptionsgranted,excludingassumedacquisition-relatedoptions,was$33.02,$46.65,and$28.30fortheyears
endedDecember31,2015,2014,and2013,respectively.Theweighted-averagegrantdatefairvalueofassumedacquisition-relatedoptionswas$80.31fortheyear
endedDecember31,2014.Referto“Note3—Acquisitions and Dispositions” inthenotestoourconsolidatedfinancialstatementsforadditionalinformationon
ouracquisitions.ThetotalfairvalueofstockoptionsvestedfortheyearsendedDecember31,2015,2014,and2013were$36million,$34million,and$27
million,respectively.
2015 RSU Activity
DuringtheyearendedDecember31,2015,weissued1,016,626RSUsunderthe2011IncentivePlanforwhichthefairvaluewasmeasuredbasedonthe
quotedpriceofourcommonstockonthedateofgrant.TheseRSUsgenerallyvestoverafour-yearrequisiteserviceperiod.
ThefollowingtablepresentsasummaryofourRSUactivity:
  Weighted  
  Average  
  Grant- Aggregate
RSUs Date Fair Intrinsic
Outstanding Value Per Share Value
(in thousands) (in millions)
UnvestedRSUsoutstandingasofDecember31,2014   1,448  $ 71.33  
Granted   1,017   82.95  
Vestedandreleased(1)   (440)   66.58  
Cancelled   (275)   72.76  
UnvestedRSUsoutstandingasofDecember31,2015   1,750  $ 79.02  $ 149
ExpectedtovestafterDecember31,2015   1,556  $ 78.77  $ 133
(1) Inclusiveof128,341RSUswithheldtosatisfyemployeeminimumtaxwithholdingrequirementsduetonetsharesettlement.Potentialshareswhichhad
beenconvertibleunderRSUsthatwerewithheldundernetsharesettlementremainintheauthorizedbutunissuedpoolunderthe2011IncentivePlanand
canbereissuedbytheCompany.Totalpaymentsfortheemployees’taxobligationstothetaxingauthoritiesduetonetsharesettlementsarereflectedasa
financingactivitywithintheconsolidatedstatementsofcashflows.
Unrecognized Stock-Based Compensation
Asummaryofourremainingunrecognizedcompensationexpense,netofestimatedforfeitures,andtheweightedaverageremainingamortizationperiodat
December31,2015relatedtoournon-vestedstockoptionsandRSUawardsispresentedbelow(inmillions,exceptperyearinformation):
Stock  
Options RSUs
Unrecognizedcompensationexpense(netofforfeitures)  $ 56 $ 94
Weightedaverageperiodremaining(inyears) 2.5  2.7
79