Facebook 2014 Annual Report Download - page 82

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The following table summarizes the activities for our unvested RSUs for the year ended December 31, 2014 :
The fair value as of the respective vesting dates of RSUs during the years ended December 31, 2014 , 2013 , and 2012 was $2.77 billion ,
$1.55
billion , and $1.99 billion , respectively.
The majority of our RSUs that were settled during the year ended December 31, 2014
were settled on a gross basis. We require that employees
sell a portion of the shares that they receive upon the vesting of RSUs in order to cover any required minimum withholding taxes. However, during the
year ended December 31, 2013
and 2012, the majority of RSUs were net share settled. Under net settlement procedures, upon each settlement date,
RSUs were withheld to cover the required withholding tax, which is based on the value of the RSU on the settlement date as determined by the closing
price of our common stock on the trading day immediately preceding the applicable settlement date. The remaining amounts are delivered to the
recipient as shares of our common stock. The amount remitted to the tax authorities for the employees' tax obligation to the tax authorities was reflected
as a financing activity within our consolidated statements of cash flows. These shares withheld by us as a result of the net settlement of RSUs are no
longer considered issued and outstanding, thereby reducing our shares outstanding used to calculate earnings per share. These shares were returned to
the reserves and are available for future issuance under the 2012 Plan.
As of December 31, 2014 , there was $7.96 billion of unrecognized share-based compensation expense, of which $6.96 billion
is related to RSUs,
and $999 million
is related to restricted shares, shares with performance conditions related to our contingent consideration liability, and stock options.
This unrecognized compensation expense is expected to be recognized over a weighted-average period of approximately three years .
The following table presents the detail of interest and other income/(expense), net, for the periods presented (in millions):
78
Unvested RSUs
Number of Shares
Weighted Average Grant Date
Fair Value
(in thousands)
Unvested at December 31, 2013
103,971
$
27.30
Granted
84,606
74.03
Vested
(41,233
)
25.76
Forfeited
(9,289
)
34.80
Unvested at December 31, 2014
138,055
$
55.89
Note 12.
Interest and other income/(expense), net
Year Ended December 31,
2014
2013
2012
Interest expense
$
(23
)
$
(56
)
$
(51
)
Interest income
27
19
14
Foreign currency exchange losses, net
(87
)
(14
)
(9
)
Other
(1
)
1
2
Interest and other income/(expense), net
$
(84
)
$
(50
)
$
(44
)