Stock Plans (Tables)

12 Months Ended

Dec. 31, 2014

Weighted-Average Black-Scholes Fair Value Assumptions

Our weighted-average Black-Scholes fair value assumptions were:


	Risk-Free Interest Rate		Expected Life		Expected Volatility		Expected Dividend Yield		Fair Value at Grant Date

2014		1.87%		6 years		21.48%		1.64%	$	6.60
2013		1.15%		6 years		20.36%		1.94%	$	4.31
2012		1.16%		6 years		20.13%		3.08%	$	4.78

Stock Options Activity

Stock option activity is reflected below:


				Weighted-
				Average		Average
	Shares Subject			Exercise or Grant Price		Remaining Contractual	Aggregate Intrinsic
	to Option			Per Share		Term	Value

Balance at January 1, 2012		49,598,867		$	28.87

Annual grant to eligible employees		12,816,380			38.00
Additional options issued		696,459			37.60

Total options granted		13,512,839			37.97
Options exercised ⁽¹⁾		(8,168,062	)		26.39		$	93 million
Options cancelled		(2,440,601	)		30.20
Adjustment due to the Spin-Off ⁽²⁾		249,996			19.59

Balance at December 31, 2012		52,753,039			20.45		$	264 million

Annual grant to eligible employees		11,644,280			27.05
Additional options issued		762,512			29.69

Total options granted		12,406,792			27.21
Options exercised ⁽¹⁾		(7,185,616	)		19.41		$	79 million
Options cancelled		(2,190,776	)		23.86

Balance at December 31, 2013		55,783,439			21.96		$	744 million

Annual grant to eligible employees		9,919,810			34.17
Additional options issued		500,250			33.65

Total options granted		10,420,060			34.14
Options exercised ⁽¹⁾		(8,076,550	)		20.85		$	125 million
Options cancelled		(1,695,398	)		27.65

Balance at December 31, 2014		56,431,551			24.19	7 years	$	685 million

Exercisable at December 31, 2014		34,811,236			20.66	6 years	$	545 million

(1)

Cash received from options exercised was $168 million in 2014, $139 million in 2013 and $205 million in 2012. The actual tax benefit realized for the tax deductions from the option exercises totaled $29 million in 2014, $14 million in 2013 and $21 million in 2012.

(2)

In 2012, as a result of the Spin-Off, existing employee stock option awards were converted into an equivalent amount of additional Mondelēz International stock options in order to preserve the fair value of the overall stock option awards granted.

Restricted And Deferred Stock

Restricted and Deferred Stock Activity

Our restricted and deferred stock activity is reflected below:


					Weighted-Average		Weighted-Average
	Number				Fair Value		Aggregate
	of Shares			Grant Date	Per Share		Fair Value

Balance at January 1, 2012		13,617,173			$	28.43

LTIP shares granted		1,321,822		Jan. 3, 2012		37.63
Annual grant to eligible employees		2,171,330		Feb. 23, 2012		38.00
Additional shares issued		1,469,399		Various		29.18

Total shares granted		4,962,551				35.25	$	175 million
Vested		(5,007,098	)			24.80	$	189 million
Forfeited		(1,275,617	)			29.22
Adjustment due to the Spin-Off ⁽¹⁾		518,902				19.72

Balance at December 31, 2012		12,815,911				21.55

LTIP shares granted		1,542,600		Jan. 2, 2013		26.24
Annual grant to eligible employees		2,335,780		Feb. 20, 2013		27.05
Additional shares issued		1,353,057		Various		22.47

Total shares granted		5,231,437				25.63	$	134 million
Vested		(5,350,073	)			18.82	$	145 million
Forfeited		(1,048,688	)			23.23

Balance at December 31, 2013		11,648,587				24.48

LTIP shares granted		1,143,620		Jan. 2, 2014		34.97
Annual grant to eligible employees		1,991,230		Feb. 19, 2014		34.17
Additional shares issued		935,463		Various		33.15

Total shares granted		4,070,313				34.16	$	139 million
Vested		(4,380,452	)			22.98	$	151 million
Forfeited		(755,808	)			28.14

Balance at December 31, 2014		10,582,640				28.56

(1)

In 2012, as a result of the Spin-Off, existing employee stock awards were converted into an equivalent amount of additional Mondelēz International stock awards in order to preserve the fair value of the overall stock award that was granted.