XML 135 R40.htm IDEA: XBRL DOCUMENT v3.2.0.727
Share-based awards (Tables)
12 Months Ended
Mar. 31, 2015
Share-based awards  
Schedule of share-based compensation expense by function

 

                                                                                                                                                                                    

 

 

 

Year ended March 31,

 

 

 

 

2013

 

2014

 

2015

 

 

 

 

(in millions of RMB)

 

 

Cost of revenue

 

 

382 

 

 

1,154 

 

 

4,176 

 

 

Product development expenses

 

 

453 

 

 

795 

 

 

3,876 

 

 

Sales and marketing expenses

 

 

120 

 

 

189 

 

 

1,235 

 

 

General and administrative expenses

 

 

304 

 

 

706 

 

 

3,741 

 

 

Total

 

 

1,259 

 

 

2,844 

 

 

13,028 

 

 

Options  
Share-based awards  
Summary of changes in the share options

 

                                                                                                                                                                                    

 

 

 

Number
of share
options

 

Weighted
average
exercise
price

 

Weighted
average
remaining
contractual
life

 

 

 

 

 

 

US$

 

(in years)

 

 

Outstanding at April 1, 2014

 

 

13,345,902

 

 

13.86

 

 

4.1

 

 

Granted

 

 

13,788,000

 

 

56.64

 

 

 

 

 

Exercised

 

 

(5,365,112

)

 

10.34

 

 

 

 

 

Cancelled/forfeited/expired

 

 

(429,380

)

 

18.47

 

 

 

 

 

Outstanding at March 31, 2015 (i)

 

 

21,339,410

 

 

42.29

 

 

6.0

 

 

Vested and exercisable at March 31, 2015

 

 

1,293,743

 

 

8.76

 

 

2.5

 

 

Vested and expected to vest at March 31, 2015 (ii)

 

 

20,865,685

 

 

42.68

 

 

6.1

 

 

 

 

 

(i)

Outstanding options as of March 31, 2015 include 4,663,833 unvested options early exercised.

(ii)

The expected to vest share options are the result of applying the pre-vesting forfeiture rate assumptions to total outstanding share options, including early exercised options.

 

Schedule of fair value assumptions

 

                                                                                                                                                                                    

 

 

Year ended March 31,

 

 

 

2013

 

2014

 

2015

 

Risk-free interest rate (i)

 

 

0.67% - 0.70

%

 

0.69% - 1.52

%

 

1.38% - 1.99

%

Expected dividend yield (ii)

 

 

%

 

%

 

%

Expected life (years) (iii)

 

 

4.38 

 

 

4.25 - 4.38

 

 

4.25 - 5.75

 

Expected volatility (iv)

 

 

41.7% - 44.9

%

 

37.0% - 39.3

%

 

35.04% - 40.76

%

 

 

 

 

(i)

Risk free interest rate is based on the yields of United States Treasury securities with maturities similar to the expected life of the share options in effect at the time of grant.

(ii)

Expected dividend is assumed to be 0% as the Company has no history or expectation of paying a dividend on its ordinary shares.

(iii)

Expected life of share options is based on the average between the vesting period and the contractual term for each grant.

(iv)

Expected volatility is assumed based on the historical volatility of the Company's comparable companies in the period equal to the expected life of each grant.

 

Restricted shares and RSUs  
Share-based awards  
Summary of changes in the restricted shares and RSUs

 

                                                                                                                                                                                    

 

 

 

Number
of restricted
shares and
RSUs

 

Weighted-
average
grant-
date
fair value

 

 

 

 

 

 

US$

 

 

Awarded and unvested at April 1, 2014

 

 

42,767,087

 

 

17.87

 

 

Granted

 

 

42,787,283

 

 

62.53

 

 

Vested

 

 

(13,159,265

)

 

14.47

 

 

Cancelled/forfeited

 

 

(4,413,935

)

 

32.56

 

 

Awarded and unvested at March 31, 2015

 

 

67,981,170

 

 

45.68

 

 

Expected to vest at March 31, 2015 (i)

 

 

58,397,443

 

 

45.63

 

 

 

 

 

(i)

Restricted shares and RSUs expected to vest are the result of applying the pre-vesting forfeiture rate assumptions to total outstanding restricted shares and RSUs.

 

Partner Capital Investment Plan | Subscription rights  
Share-based awards  
Schedule of fair value assumptions

 

                                                                                                                                                                                    

 

 

Year ended March 31,

 

 

 

2014

 

2015

 

Risk-free interest rate (i)

 

 

1.03 

%

 

1.50 

%

Expected dividend yield (ii)

 

 

%

 

%

Expected life (years) (iii)

 

 

4.00 

 

 

4.00 

 

Expected volatility (iv)

 

 

36.9 

%

 

38.1 

%

Discount for post-vesting sale restrictions (v)

 

 

38.0 

%

 

35.0 

%

 

 

 

(i)

Risk free interest rate is based on the yields of United States Treasury securities with maturities similar to the expected life of the share-based awards in effect at the time of grant.

(ii)

Expected dividend is assumed to be 0% as the Company has no history or expectation of paying a dividend on its ordinary shares.

(iii)

Expected life of the rights is based on management's estimate on timing of redemption for ordinary shares by the participants.

(iv)

Expected volatility is assumed based on the historical volatility of the Company's comparable companies in the period equal to expected life of each right.

(v)

Discount for post-vesting sale restrictions applied on the underlying ordinary shares takes into consideration the restriction on sales of eight years.