AMD 2015 Annual Report Download - page 108

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Included in the table above are approximately 0.3 million 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 RSUs vested during 2015, 2014 and 2013 was $33 million, $60
million and $36 million, respectively. Compensation expense recognized for the restricted stock and RSUs for
2015, 2014 and 2013 was approximately $57 million, $65 million and $68 million, respectively.
As of December 26, 2015, the Company had $88 million of total unrecognized compensation expense, net
of estimated forfeitures, related to restricted stock and RSUs that will be recognized over the weighted-average
period of 1.99 years.
PRSUs. The Company estimated the fair value for the PRSUs with a market condition using Monte Carlo
simulation model on the date of grant. During 2015, the Company granted 5.2 million PRSUs to certain of the
Company’s senior executives, of which 3.9 million PRSUs included a market condition. During 2014, the
Company granted 5.2 million PRSUs to certain of the Company’s certain senior executives, of which 4.1 million
PRSUs included a market condition.
The summary of the changes in the PRSUs during 2015, 2014 and 2013 is presented below.
2015 2014 2013
(Shares in millions)
Unvested shares at beginning of period ......................... 9 5 2
Granted .............................................. 5 5 3
Forfeited ............................................. (7) (1) —
Vested ............................................... — — —
Unvested shares at end of period .............................. 7 9 5
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 per employee match of $11,925, $11,700 and $11,475 for 2015, 2014 and 2013, respectively. The
Company’s contributions to the 401(k) plan for 2015, 2014 and 2013 were approximately $16 million, $18
million and $19 million, respectively.
NOTE 15: Commitments and Guarantees
Operating Leases
As of December 26, 2015, 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)
2016 ............................................................. $ 51
2017 ............................................................. 50
2018 ............................................................. 45
2019 ............................................................. 28
2020 ............................................................. 26
2021 and thereafter .................................................. 106
Total non-cancelable operating lease commitments ........................ $ 306
102