Pepsi 2012 Annual Report Download - page 89

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Our RSU Activity
RSUs(a)
Average
Intrinsic
Value(b)
Average
Life
(years)(c)
Aggregate
Intrinsic
Value(d)
Outstanding at December31, 2011 12,340 $62.96
Granted 4,404 $66.64
Converted (3,436)$57.76
Forfeited (1,326)$64.80
Outstanding at December29, 2012 11,982 $65.60 1.49 $815,051
Expected to vest as of December29, 2012 11,616 $65.58 1.34 $790,128
(a) RSUs are in thousands and include RSUs previously granted under a PBG plan. No additional RSUs or shares may be granted under the PBG plan.
(b) Weighted-average intrinsic value at grant date.
(c) Weighted-average contractual life remaining.
(d) In thousands.
Our PEPUnit Activity
PEPUnits(a)
Average
Intrinsic
Value(b)
Average
Life
(years)(c)
Aggregate
Intrinsic
Value(d)
Outstanding at December31, 2011 – $ –
Granted 410 $ 64.85
Converted – $ –
Forfeited (42) $ 64.51
Outstanding at December29, 2012 368 $ 64.89 2.26 $25,031
Expected to vest as of December29, 2012 334 $ 64.85 2.26 $22,721
(a) PEPUnits are in thousands.
(b) Weighted-average intrinsic value at grant date.
(c) Weighted-average contractual life remaining.
(d) In thousands.
Other Stock-Based Compensation Data
2012 2011 2010
Stock Options
Weighted-average fair value of
options granted $ 6.86 $ 7.79 $ 13.93
Total intrinsic value of options
exercised(a) $ 512,636 $ 385,678 $ 502,354
RSUs
Total number of RSUs granted(a) 4,404 5,333 8,326
Weighted-average intrinsic
value of RSUs granted $ 66.64 $ 63.87 $ 65.01
Total intrinsic value of RSUs
converted(a) $ 236,575 $ 173,433 $ 202,717
PEPUnits
Total number of PEPUnits
granted(a) 410
Weighted-average intrinsic
value of PEPUnits granted $ 64.85
Total intrinsic value of PEPUnits
converted(a) –
(a) In thousands.
As of December31, 2012, there was $389million of total
unrecognized compensation cost related to nonvested share-
based compensation grants. This unrecognized compensation
is expected to be recognized over a weighted-average period
of two years.
Note— Pension, Retiree Medical and
SavingsPlans
Our pension plans cover certain full-time employees in the U.S.
and certain international employees. Benefits are determined
based on either years of service or a combination of years of
service and earnings. Certain U.S. and Canada retirees are also
eligible for medical and life insurance benefits (retiree medi-
cal) if they meet age and service requirements. Generally, our
share of retiree medical costs is capped at specified dollar
amounts, which vary based upon years of service, with retirees
contributing the remainder of the costs.
Gains and losses resulting from actual experience differing
from our assumptions, including the difference between the
actual return on plan assets and the expected return on plan
assets, and from changes in our assumptions are determined
at each measurement date. If this net accumulated gain or loss
exceeds 10% of the greater of the market-related value of
plan assets or plan liabilities, a portion of the net gain or loss
is included in expense for the following year based upon the
average remaining service period of active plan participants,
which is approximately 11 years for pension expense and
approximately 8 years for retiree medical expense. The cost or
benefit of plan changes that increase or decrease benefits for
2012 PEPSICO ANNUAL REPORT 87
Notes to Consolidated Financial Statements