Share-based Payments (Tables)
|
12 Months Ended |
Dec. 31, 2019 |
|---|
| Disclosure Of Share Based Payments [Abstract] |
|
| Schedule of Activities in RSUs, RSAs and Other Contingently Issuable Shares Outstanding and Related Information |
Activity in the RSUs, RSAs, and other contingently issuable shares outstanding and related information is as follows:
|
|
|
RSUs |
|
|
RSAs |
|
|
Other |
|
|
|
|
Number of
RSUs |
|
|
Weighted
average
grant date
fair value |
|
|
Number of
Awards |
|
|
Weighted
average
grant date
fair value |
|
|
Number of
Awards |
|
|
Weighted
average
grant date
fair value |
|
|
|
|
|
|
|
|
US$ |
|
|
|
|
|
|
US$ |
|
|
|
|
|
|
US$ |
|
|
Outstanding at January 1, 2017 |
|
|
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 |
|
|
|
— |
|
|
|
— |
|
|
Granted |
|
|
715,224 |
|
|
|
137.15 |
|
|
|
— |
|
|
|
— |
|
|
|
162,320 |
|
|
|
145.21 |
|
|
Forfeited |
|
|
(48,754 |
) |
|
|
118.96 |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
Released |
|
|
(128,503 |
) |
|
|
98.52 |
|
|
|
(20,600 |
) |
|
|
90.65 |
|
|
|
— |
|
|
|
— |
|
|
Outstanding at December 31, 2019 |
|
|
638,350 |
|
|
|
134.79 |
|
|
|
41,280 |
|
|
|
90.65 |
|
|
|
162,320 |
|
|
|
134.15 |
|
|
| Schedule of Activity in Stock Options Outstanding and Related Information |
Activity in the stock options outstanding and related information is as follows:
|
|
|
Options |
|
|
|
|
Number of
options |
|
|
Weighted
average
exercise price |
|
|
|
|
|
|
|
|
US$ |
|
|
Outstanding at January 1, 2017 |
|
|
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 |
|
|
Granted |
|
|
4,152,565 |
|
|
|
147.11 |
|
|
Forfeited |
|
|
(719,860 |
) |
|
|
105.01 |
|
|
Exercised |
|
|
(3,478,660 |
) |
|
|
49.41 |
|
|
Expired |
|
|
(43,799 |
) |
|
|
117.79 |
|
|
Outstanding at December 31, 2019 |
|
|
12,153,772 |
|
|
|
107.68 |
|
|
Exercisable at December 31, 2017 |
|
|
5,822,400 |
|
|
|
39.62 |
|
|
Exercisable at December 31, 2018 |
|
|
5,162,876 |
|
|
|
58.25 |
|
|
Exercisable at December 31, 2019 |
|
|
5,553,650 |
|
|
|
84.18 |
|
|
| Summary of Stock Options Outstanding |
The stock options outstanding December 31, 2019, 2018, and 2017 are comprised of the following:
|
|
|
|
|
|
|
|
|
2019 |
|
|
2018 |
|
|
2017 |
|
|
Range of exercise prices (US$) |
|
|
Number of
options |
|
|
Weighted
average
remaining
contractual
life (years) |
|
|
Number of
options |
|
|
Weighted
average
remaining
contractual
life (years) |
|
|
Number of
options |
|
|
Weighted
average
remaining
contractual
life (years) |
|
|
|
1.65 |
|
to |
|
45.00 |
|
|
|
2,130,161 |
|
|
|
0.9 |
|
|
|
4,753,052 |
|
|
|
1.8 |
|
|
|
9,039,248 |
|
|
|
2.7 |
|
|
|
45.01 |
|
to |
|
90.00 |
|
|
|
2,482,270 |
|
|
|
2.2 |
|
|
|
3,337,414 |
|
|
|
3.2 |
|
|
|
4,736,432 |
|
|
|
4.2 |
|
|
|
90.01 |
|
to |
|
135.00 |
|
|
|
2,946,838 |
|
|
|
3.4 |
|
|
|
2,695,890 |
|
|
|
3.9 |
|
|
|
871,040 |
|
|
|
4.2 |
|
|
|
135.01 |
|
to |
|
180.00 |
|
|
|
3,318,423 |
|
|
|
4.1 |
|
|
|
749,360 |
|
|
|
4.3 |
|
|
|
— |
|
|
|
— |
|
|
|
180.01 |
|
to |
|
233.42 |
|
|
|
1,276,080 |
|
|
|
3.7 |
|
|
|
707,810 |
|
|
|
4.2 |
|
|
|
— |
|
|
|
— |
|
|
|
|
|
|
|
|
|
|
|
12,153,772 |
|
|
|
2.9 |
|
|
|
12,243,526 |
|
|
|
2.9 |
|
|
|
14,646,720 |
|
|
|
3.3 |
|
|
| Summary of Black-Scholes Option-Pricing Models |
The following table lists the inputs to the Black-Scholes option-pricing models used for employee share-based payments for the years ended December 31, 2019, 2018, and 2017:
|
|
|
2019 |
|
2018 |
|
2017 |
|
Expected volatility (%) |
|
30.1 – 35.2 |
|
32.0 – 34.7 |
|
32.0 – 43.5 |
|
Risk-free interest rate (%) |
|
1.4 – 2.6 |
|
2.4 – 2.9 |
|
1.4 – 2.0 |
|
Expected life of stock options (years) |
|
2.5 – 4.8 |
|
2.4 – 4.4 |
|
2.4 – 4.4 |
|
Weighted-average share price (US$) |
|
136.09 |
|
142.20 |
|
64.11 |
|
| 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 2019:
|
|
|
2019 |
|
|
|
|
(in € millions) |
|
|
Actual stock option expense |
|
|
48 |
|
|
Stock option expense increase (decrease) under the following
assumption changes |
|
|
|
|
|
Volatility decreased by 10% |
|
|
(13 |
) |
|
Volatility increase by 10% |
|
|
13 |
|
|
Expected life decrease by 1 year |
|
|
(9 |
) |
|
Expected life increase by 1 year |
|
|
8 |
|
|
| 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:
|
|
|
2019 |
|
|
2018 |
|
|
2017 |
|
|
|
|
(in € millions) |
|
|
Cost of revenue |
|
|
4 |
|
|
|
3 |
|
|
|
2 |
|
|
Research and development |
|
|
61 |
|
|
|
40 |
|
|
|
21 |
|
|
Sales and marketing |
|
|
27 |
|
|
|
19 |
|
|
|
15 |
|
|
General and administrative |
|
|
30 |
|
|
|
26 |
|
|
|
27 |
|
|
|
|
|
122 |
|
|
|
88 |
|
|
|
65 |
|
|