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Share-Based Compensation | 12 Months Ended
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Dec. 31, 2013
Share-Based Compensation | Note 14: Share-Based Compensation The tables below provide condensed information on our share-based compensation.
Recognized Share-Based Compensation Expense
Year ended December 31 (in millions) |  | 2013 |  | 2012 |  | 2011
Stock options | $ | 139 | $ | 131 | $ | 116
Restricted share units |  | 175 |  | 154 |  | 149
Employee stock purchase plans |  | 20 |  | 16 |  | 13
Total | $ | 334 | $ | 301 | $ | 278
As of December 31, 2013, we had unrecognized pretax compensation expense of $318 million related to nonvested stock options and unrecognized pretax compensation expense of $380 million related to nonvested RSUs that will be recognized over a weighted-average period of approximately 1.9 years and 1.7 years, respectively.
2013 Stock Options and Restricted Share Units |  |  |  |
As of December 31, 2013, unless otherwise stated (in millions, except per share data) |  | Stock Options |  | RSUs
Awards granted during 2013 |  | 18 |  | 7
Weighted-average exercise price | $ | 41.22 |  |
Weighted-average fair value at grant date |  |  | $ | 38.28
Stock options outstanding and nonvested RSUs(a) |  | 104 |  | 26
Weighted-average exercise price of stock options outstanding | $ | 25.49 |  |
Weighted-average fair value at grant date of nonvested RSUs |  |  | $ | 25.38
(a) As of December 31, 2013, 102 million of stock options outstanding were net settled stock options. Net settled stock options, as opposed to stock options exercised with a cash payment, result in fewer shares being issued and no cash proceeds being received by us when the options are exercised. Our share-based compensation primarily consists of awards of stock options and RSUs to certain employees and directors as part of our approach to long-term incentive compensation. Awards generally vest over a period of 5 years and in the case of stock options, have a 10 year term. Additionally, through our employee stock purchase plans, employees are able to purchase shares of Comcast Class A common stock at a discount through payroll deductions. The cost associated with our share-based compensation is based on an award's estimated fair value at the date of grant and is recognized over the period in which any related services are provided. We use the Black-Scholes option pricing model to estimate the fair value of stock option awards. RSUs are valued based on the closing price of our Class A c ommon s tock on the date of grant and are discounted for the lack of dividends, if any, during the vesting period. The table below presents the weighted-average fair value on the date of grant of RSUs and Class A common stock option s awarded under our various plans and the related weighted-average valuation assumptions.
Year Ended December 31 |  | 2013 |  |  | 2012 |  |  | 2011 |
RSUs fair value | $ | 38.28 |  | $ | 27.80 |  | $ | 22.78 |
Stock options fair value | $ | 8.80 |  | $ | 7.38 |  | $ | 6.96 |
Stock Option Valuation Assumptions: |  |  |  |  |  |  |  |  |
| Dividend yield |  | 1.9 | % |  | 2.2 | % |  | 1.8 | %
| Expected volatility |  | 25.0 | % |  | 29.0 | % |  | 28.1 | %
| Risk-free interest rate |  | 1.3 | % |  | 1.7 | % |  | 2.8 | %
| Expected option life (in years) |  | 7.0 |  |  | 7.0 |  |  | 7.0 |
NBCUniversal Media, LLC [Member] |
Share-Based Compensation | Note 13: Share-Based Compensation The tables below provide condensed information on ou r share-based compensation.
Recognized Share-Based Compensation Expense
| Successor
(in millions) | Year Ended December 31, | Year Ended December 31, | For the Period January 29, 2011 to December 31, 2011
2013 | 2012 |
Stock options | $ | 15 | $ | 15 | $ | 13
Restricted share units |  | 42 |  | 28 |  | 18
Employee stock purchase plans |  | 5 |  | 4 |  | 2
Total | $ | 62 | $ | 47 | $ | 33
As of December 31, 2013, we had unrecognized pretax compensation expense of $35 million related to nonvested Comcast stock options and unrecognized pretax compensation expense of $98 million related to nonvested Comcast restricted share units (“RSUs”) that will be recognized over a weighted-average period of approximately 2.2 years and 1.7 years, respectively. Comcast maintains share-based compensation plans that primarily consist of awards of stock options and RSUs to certain employees and directors as part of its approach to long-term incentive compensation. Awards generally vest over a period of 5 years and in the case of stock options, have a 10 year term. Additionally, through the employee stock purchase plans, employees are able to purchase shares of Comcast Class A common stock at a discount through payroll deductions. Certain of our employees participate in these plans and the expense associated with their participation is settled in cash with Comcast. The cost associated with Comcast's share-based compensation is based on an award's estimated fair value at the date of grant and is recognized over the period in which any related services are provided. Comcast uses the Black-Scholes option pricing model to estimate the fair value of stock option awards. RSUs are valued based on the closing price of Comcast Class A common stock on the date of grant and are discounted for the lack of dividends, if any, during the vesting period. The table below presents the weighted-average fair value on the date of grant of RSUs and Class A common stock options awarded under Comcast's various plans to employees of NBCUniversal and the related weighted-average valuation assumptions.
|  | Successor
|  | Year Ended December 31, | Year Ended December 31, | For the Period January 29, 2011 to December 31,
|  | 2013 | 2012 | 2011
RSUs fair value | $ | 37.79 |  | $ | 27.51 |  | $ | 21.75 |
Stock options fair value | $ | 8.86 |  | $ | 7.42 |  | $ | 6.77 |
Stock Option Valuation Assumptions: |  |  |  |  |  |  |  |  |
| Dividend yield |  | 1.9 | % |  | 2.2 | % |  | 1.8 | %
| Expected volatility |  | 25.2 | % |  | 29.0 | % |  | 28.5 | %
| Risk-free interest rate |  | 1.3 | % |  | 1.7 | % |  | 2.6 | %
| Expected option life (in years) |  | 7.0 |  |  | 7.0 |  |  | 7.0 |

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- Definition The entire disclosure for compensation-related costs for equity-based compensation, which may include disclosure of policies, compensation plan details, allocation of equity compensation, incentive distributions, equity-based arrangements to obtain goods and services, deferred compensation arrangements, employee stock ownership plan details and employee stock purchase plan details. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5047-113901 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 50 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6406099&loc=d3e25284-112666 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 40 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6418621&loc=d3e17540-113929 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5444-113901 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Staff Accounting Bulletin (SAB) -Number Topic 14 + Details
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