Share-based Payments (Tables)
|
12 Months Ended |
Dec. 31, 2018 |
|---|
| Disclosure Of Share Based Payments [Abstract] |
|
| Schedule of Activities in RSUs and RSAs Outstanding and Related Information |
Activity in the RSUs and RSAs outstanding and related information is as follows:
|
|
|
RSU |
|
|
RSA |
|
|
|
|
Number of
RSUs |
|
|
Weighted
average
grant date
fair value |
|
|
Number of
RSAs |
|
|
Weighted
average
grant date
fair value |
|
|
|
|
|
|
|
|
US$ |
|
|
|
|
|
|
US$ |
|
|
Outstanding at January 1, 2016 |
|
|
627,480 |
|
|
|
32.78 |
|
|
|
79,360 |
|
|
|
23.90 |
|
|
Granted |
|
|
176,080 |
|
|
|
41.85 |
|
|
|
— |
|
|
|
— |
|
|
Forfeited |
|
|
(140,000 |
) |
|
|
30.38 |
|
|
|
— |
|
|
|
— |
|
|
Released |
|
|
(162,080 |
) |
|
|
32.53 |
|
|
|
(79,360 |
) |
|
|
23.90 |
|
|
Outstanding at December 31, 2016 |
|
|
501,480 |
|
|
|
36.73 |
|
|
|
— |
|
|
|
— |
|
|
Granted |
|
|
80,920 |
|
|
|
59.63 |
|
|
|
61,880 |
|
|
|
90.65 |
|
|
Forfeited |
|
|
(85,903 |
) |
|
|
37.43 |
|
|
|
— |
|
|
|
— |
|
|
Released |
|
|
(300,560 |
) |
|
|
38.95 |
|
|
|
— |
|
|
|
— |
|
|
Outstanding at December 31, 2017 |
|
|
195,937 |
|
|
|
42.46 |
|
|
|
61,880 |
|
|
|
90.65 |
|
|
Granted |
|
|
14,383 |
|
|
|
168.24 |
|
|
|
— |
|
|
|
— |
|
|
Forfeited |
|
|
(15,991 |
) |
|
|
34.93 |
|
|
|
— |
|
|
|
— |
|
|
Released |
|
|
(93,946 |
) |
|
|
40.12 |
|
|
|
— |
|
|
|
— |
|
|
Outstanding at December 31, 2018 |
|
|
100,383 |
|
|
|
63.87 |
|
|
|
61,880 |
|
|
|
90.65 |
|
|
| Schedule of Activity in Share Options Outstanding and Related Information |
Activity in the share options outstanding and related information is as follows:
|
|
|
ESOP |
|
|
|
|
Number of
options |
|
|
Weighted
average
exercise price |
|
|
|
|
|
|
|
|
US$ |
|
|
Outstanding at January 1, 2016 |
|
|
9,192,120 |
|
|
|
22.80 |
|
|
Granted |
|
|
6,020,360 |
|
|
|
41.90 |
|
|
Forfeited |
|
|
(512,560 |
) |
|
|
36.03 |
|
|
Exercised |
|
|
(3,661,480 |
) |
|
|
10.15 |
|
|
Expired |
|
|
(61,960 |
) |
|
|
20.93 |
|
|
Outstanding at December 31, 2016 |
|
|
10,976,480 |
|
|
|
36.88 |
|
|
Granted |
|
|
5,819,520 |
|
|
|
64.11 |
|
|
Forfeited |
|
|
(659,000 |
) |
|
|
46.34 |
|
|
Exercised |
|
|
(1,422,520 |
) |
|
|
22.23 |
|
|
Expired |
|
|
(67,760 |
) |
|
|
28.49 |
|
|
Outstanding at December 31, 2017 |
|
|
14,646,720 |
|
|
|
48.73 |
|
|
Granted |
|
|
3,578,000 |
|
|
|
142.20 |
|
|
Forfeited |
|
|
(1,220,508 |
) |
|
|
62.82 |
|
|
Exercised |
|
|
(4,736,555 |
) |
|
|
40.97 |
|
|
Expired |
|
|
(24,131 |
) |
|
|
54.98 |
|
|
Outstanding at December 31, 2018 |
|
|
12,243,526 |
|
|
|
77.63 |
|
|
Exercisable at December 31, 2016 |
|
|
3,765,000 |
|
|
|
29.98 |
|
|
Exercisable at December 31, 2017 |
|
|
5,822,400 |
|
|
|
39.62 |
|
|
Exercisable at December 31, 2018 |
|
|
5,162,876 |
|
|
|
58.25 |
|
|
| Summary of Share Options Outstanding |
The share options outstanding December 31, 2018, 2017, and 2016 are comprised of the following:
|
|
|
|
|
|
|
|
|
2018 |
|
|
2017 |
|
|
2016 |
|
|
Range of exercise prices (US$) |
|
|
Number of
options |
|
|
Weighted
average
remaining
contractual
life (years) |
|
|
Number of
options |
|
|
Weighted
average
remaining
contractual
life (years) |
|
|
Number of
options |
|
|
Weighted
average
remaining
contractual
life (years) |
|
|
|
1.65 |
|
to |
|
45.00 |
|
|
|
4,753,052 |
|
|
|
1.8 |
|
|
|
9,039,248 |
|
|
|
2.7 |
|
|
|
10,917,960 |
|
|
|
3.5 |
|
|
|
45.01 |
|
to |
|
90.00 |
|
|
|
3,337,414 |
|
|
|
3.2 |
|
|
|
4,736,432 |
|
|
|
4.2 |
|
|
|
58,520 |
|
|
|
3.2 |
|
|
|
90.01 |
|
to |
|
135.00 |
|
|
|
2,695,890 |
|
|
|
3.9 |
|
|
|
871,040 |
|
|
|
4.2 |
|
|
|
— |
|
|
|
— |
|
|
|
135.01 |
|
to |
|
180.00 |
|
|
|
749,360 |
|
|
|
4.3 |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
180.01 |
|
to |
|
189.52 |
|
|
|
707,810 |
|
|
|
4.2 |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
|
|
|
|
|
|
|
|
12,243,526 |
|
|
|
2.9 |
|
|
|
14,646,720 |
|
|
|
3.3 |
|
|
|
10,976,480 |
|
|
|
3.4 |
|
|
| Summary of Black-Scholes Option-Pricing Models |
The following table lists the inputs to the Black-Scholes option-pricing models used for employee share-based payments for the years ended December 31, 2018, 2017, and 2016:
|
|
|
2018 |
|
2017 |
|
2016 |
|
Expected volatility (%) |
|
32.0 – 34.7 |
|
32.0 – 43.5 |
|
37.9 – 45.8 |
|
Risk-free interest rate (%) |
|
2.4 – 2.9 |
|
1.4 – 2.0 |
|
0.8 – 1.8 |
|
Expected life of share options (years) |
|
2.4 – 4.4 |
|
2.4 – 4.4 |
|
2.5 – 5.0 |
|
Weighted-average share price (US$) |
|
123.13 – 189.52 |
|
50.70 – 90.65 |
|
41.20 – 44.40 |
|
| Summary of Impact of Changes on Stock Options Expense for Options Granted |
The following table shows the impact of these changes on stock option expense for the options granted in 2018:
|
|
|
2018 |
|
|
|
|
(in € millions) |
|
|
Actual stock option expense |
|
|
46 |
|
|
Stock option expense increase (decrease) under the following
assumption changes |
|
|
|
|
|
Volatility decreased by 10% |
|
|
(11 |
) |
|
Volatility increase by 10% |
|
|
11 |
|
|
Expected life decrease by 1 year |
|
|
(7 |
) |
|
Expected life increase by 1 year |
|
|
6 |
|
|
| Summary of Expense Recognized in Consolidated Statement of Operations for Employee Share Based Payments |
The expense recognized in the consolidated statement of operations for employee share-based payments is as follows:
|
|
|
2018 |
|
|
2017 |
|
|
2016 |
|
|
|
|
(in € millions) |
|
|
Cost of revenue |
|
|
3 |
|
|
|
2 |
|
|
|
1 |
|
|
Research and development |
|
|
40 |
|
|
|
21 |
|
|
|
16 |
|
|
Sales and marketing |
|
|
19 |
|
|
|
15 |
|
|
|
10 |
|
|
General and administrative |
|
|
26 |
|
|
|
27 |
|
|
|
26 |
|
|
|
|
|
88 |
|
|
|
65 |
|
|
|
53 |
|
|