AMD 2013 Annual Report Download - page 109

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The summary of the changes in restricted stock and restricted stock units outstanding, including the market-
based restricted stock units, during 2013, 2012 and 2011 is presented below:
2013 2012 2011
Number
of Shares
Weighted-
Average
Fair
Value
Number
of Shares
Weighted-
Average
Fair
Value
Number
of Shares
Weighted-
Average
Fair
Value
(In millions except share price)
Unvested balance at beginning of period . . . 25 $6.41 24 $7.07 24 $6.50
Granted ......................... 28 $3.81 17 $5.43 14 $7.34
Forfeited ........................ (3) $5.76 (5) $6.84 (4) $6.66
Vested .......................... (10) $6.93 (11) $6.05 (10) $6.25
Unvested balance at end of period ........ 40 $4.52 25 $6.41 24 $7.07
Included in the table above are approximately 322,000 shares of restricted stock granted upon the
acquisition of SeaMicro in 2012 (See Note 4). 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 2013, 2012 and 2011 was $36
million, $60 million and $74 million, respectively. Compensation expense recognized for the restricted stock and
restricted stock units for 2013, 2012 and 2011 was approximately $68 million, $77 million and $73 million,
respectively.
As of December 28, 2013, the Company had $26 million of total unrecognized compensation expense, net
of estimated forfeitures, related to stock options that will be recognized over the weighted-average period of 1.90
years.
As of December 28, 2013, the Company had $112 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 2.03 years.
NOTE 15: 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 $11,475, $11,250 and $11,025 for 2013, 2012 and 2011, 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 were approximately $19 million
in 2013, $22 million in 2012 and $20 million in 2011.
NOTE 16: Commitments and Guarantees
Operating Leases
As of December 28, 2013, 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)
2014 ............................................................. $ 59
2015 ............................................................. 51
2016 ............................................................. 43
2017 ............................................................. 40
2018 ............................................................. 39
2019 and thereafter .................................................. 156
Total non-cancelable operating lease commitments ........................ $388
101