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Employee Benefit Plans (Tables) | 12 Months Ended
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Dec. 31, 2014
Share-Based Compensation Expense Available for Each Plan | The following information on share-based compensation expense is available for each plan:
|  | December 31, 2014 |  |  | December 31, 2013 |  |  | December 31, 2012 |
|  | Continuing operations |  |  | Continuing operations |  |  | Discontinued operations |  |  | Continuing operations |  |  | Discontinued operations |
(a) The Gold Fields Limited 2012 Share Plan |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
- Performance shares |  |  | 12.0 |  |  |  | 18.8 |  |  |  | 1.1 |  |  |  | 13.1 |  |  |  | 7.6 |
- Bonus shares |  |  | 12.3 |  |  |  | 11.9 |  |  |  | 0.8 |  |  |  | 8.7 |  |  |  | 5.0 |
(b) The Gold Fields Limited 2005 Share Plan |  |  | 1.7 |  |  |  | 9.8 |  |  |  | 2.7 |  |  |  | 23.7 |  |  |  | 19.6 |
Total share-based compensation |  |  | 26.0 |  |  |  | 40.5 |  |  |  | 4.6 |  |  |  | 45.5 |  |  |  | 32.2 |
(a) The Gold Fields Limited 2012 Share Plan: At the annual general meeting on May 14, 2012 shareholders approved the adoption of the Gold Fields Limited 2012 Share Plan to replace the Gold Fields Limited 2005 Share Plan. The plan provided for two methods of participation, namely the Performance Share Method, or PS and the Bonus Share Method, or BS. This plan sought to attract, retain, motivate and reward participating employees on a basis which sought to align the interests of such employees with those of the Company’s shareholders. No further allocations of options under this plan are being made following the introduction of the Long Term Incentive Plan (“LTIP”) (refer note 18.3) and the plan will be closed once all options have vested and have been exercised or forfeited. Currently the last vesting date is December 20, 2016.
Assumptions used to Value Options | The fair value of the awards made under this plan are valued using the Monte Carlo simulation model. The inputs to the model were as follows:
|  | December 31, 2014 |  |  | December 31, 2013 |
Weighted average historical volatility (based on a statistical analysis of the share price on a weighted moving average basis for the expected term of the option) |  |  | 44.4 | % |  |  | — |
Expected term (years) |  |  | 3 |  |  |  | — |
Three year risk free interest rate (based on US interest rates) |  |  | 2.2 | % |  |  | — |
Directors Affected by Gold Fields Management Scheme Modification | The following executive directors were affected by the modification:
December 31, 2012 |  | Number of options |  |  | Average instrument price $ |  |  | Contractual life extended by (years) |
NJ Holland |  |  | 49,000 |  |  |  | 12.80 |  |  |  | 0.06 |
PA Schmidt |  |  | 43,310 |  |  |  | 12.68 |  |  |  | 0.06 |
December 31, 2013 |  | Number of options |  |  | Average instrument price $ |  |  | Contractual life extended by (years) |
NJ Holland |  |  | 121,428 |  |  |  | 8.21 |  |  |  | 0.16 |
PA Schmidt |  |  | 75,082 |  |  |  | 8.56 |  |  |  | 0.17 |
Summarize Information relating to Options Outstanding | The following tables summarize information relating to the options outstanding at December 31, 2014 and December 31, 2013.
|  | Outstanding SARS at December 31, 2014 |
|  | Price range $ |  |  | Number of options |  |  | Contractual life (in years) |  |  | Weighted average exercise price $ |
Range of prices |  |  | 5.19 - 7.35 |  |  |  | 580,833 |  |  |  | 1.22 |  |  |  | 6.56 |
|  |  | 7.36 - 9.51 |  |  |  | 454,131 |  |  |  | 0.33 |  |  |  | 8.17 |
|  |  | 9.52 - 11.68 |  |  |  | 769,159 |  |  |  | 2.33 |  |  |  | 8.94 |
|  |  | 11.69 - 13.84 |  |  |  | 14,138 |  |  |  | 3.01 |  |  |  | 10.25 |
Total |  |  |  |  |  |  | 1,818,261 |  |  |  | 1.48 |  |  |  | 7.89 |
|  | Outstanding SARS at December 31, 2013 |
|  | Price range |  |  | Number of options $ |  |  | Contractual life (in years) |  |  | Weighted average exercise price $ |
Range of prices |  |  | 5.80 - 8.22 |  |  |  | 873,064 |  |  |  | 2.22 |  |  |  | 7.33 |
|  |  | 8.23 - 10.64 |  |  |  | 1,217,915 |  |  |  | 0.90 |  |  |  | 9.00 |
|  |  | 10.65 - 13.06 |  |  |  | 1,033,784 |  |  |  | 3.34 |  |  |  | 10.00 |
|  |  | 13.07 - 15.47 |  |  |  | 26,965 |  |  |  | 4.01 |  |  |  | 11.46 |
Total |  |  |  |  |  |  | 3,151,728 |  |  |  | 2.09 |  |  |  | 8.89 |
Schedule of Long-term Cash Incentive Plan |
|  | December 31, 2014 |  |  | December 31, 2013 |
Long-term cash incentive plan |  |  |  |  |  |  | — |
Opening balance |  |  | — |  |  |  | — |
Cash awards raised during the year |  |  | 8.7 |  |  |  | — |
Changes in estimates |  |  | 0.3 |  |  |  | — |
Forfeited awards |  |  | (0.3 | ) |  |  | — |
Translation adjustment |  |  | (0.4 | ) |  |  | — |
Balance at close |  |  | 8.3 |  |  |  | — |
The Gold Fields Limited 2012 Share Plan |
Details of Stock Options Granted under Share Plan | Details of the Performance shares and Bonus shares granted under this Plan are as follows:
|  | Number of Performance shares |  |  | Number of Bonus shares |
Outstanding at December 31, 2011 |  |  | — |  |  |  | — |
Granted during the year |  |  | 4,511,700 |  |  |  | 1,368,423 |
Exercised and released |  |  | — |  |  |  | (528,392 | )
Forfeited |  |  | (249,530 | ) |  |  | (47,655 | )
Outstanding at December 31, 2012 |  |  | 4,262,170 |  |  |  | 792,376 |
Spin-off of Sibanye Gold—forfeited |  |  | (1,562,498 | ) |  |  | (241,023 | )
Additional shares awarded due to spin-off of Sibanye |  |  | 396,229 |  |  |  | — |
Granted during the year |  |  | 5,310,968 |  |  |  | 2,018,771 |
Exercised and released |  |  | (515,025 | ) |  |  | (1,314,156 | )
Forfeited |  |  | (1,862,128 | ) |  |  | (373,896 | )
Outstanding at December 31, 2013 |  |  | 6,029,716 |  |  |  | 882,072 |
Granted during the year |  |  | — |  |  |  | 4,000,559 |
Exercised and released |  |  | (834,010 | ) |  |  | (2,167,802 | )
Forfeited |  |  | (879,049 | ) |  |  | (552,907 | )
Outstanding at December 31, 2014 |  |  | 4,316,657 |  |  |  | 2,161,922 |
The Gold Fields Limited 2005 Share Plan |
Details of Stock Options Granted under Share Plan | Details of the PVRS and SARS granted under this Plan are as follows:
|  | Number of PVRS |  |  | Number of SARS |  |  | Average price $ |
Outstanding at December 31, 2011 |  |  | 7,369,112 |  |  |  | 5,030,143 |  |  |  | 13.27 |
Exercised and released |  |  | (1,798,082 | ) |  |  | (259,455 | ) |  |  | 12.99 |
Forfeited |  |  | (584,814 | ) |  |  | (451,779 | ) |  |  | 14.30 |
Outstanding at December 31, 2012 |  |  | 4,986,216 |  |  |  | 4,318,909 |  |  |  | 12.53 |
Spin-off of Sibanye Gold - forfeited |  |  | (2,221,264 | ) |  |  | (1,077,878 | ) |  |  | 11.99 |
Additional shares awarded due to spin-off of Sibanye |  |  | 538,562 |  |  |  | 465,346 |  |  |  | 10.72 |
Exercised and released |  |  | (1,857,614 | ) |  |  | — |  |  |  | — |
Forfeited |  |  | (214,929 | ) |  |  | (554,649 | ) |  |  | 10.61 |
Outstanding at December 31, 2013 |  |  | 1,230,971 |  |  |  | 3,151,728 |  |  |  | 8.89 |
Exercised and released |  |  | (1,217,700 | ) |  |  | — |  |  |  | — |
Forfeited |  |  | (13,271 | ) |  |  | (1,333,467 | ) |  |  | 8.62 |
Outstanding at December 31, 2014 |  |  | — |  |  |  | 1,818,261 |  |  |  | 7.89 |
GF Management Incentive Scheme |
Details of Stock Options Granted under Share Plan | Details of the options granted under the GF Management Incentive Scheme are as follows:
|  | Number of Options |  |  | Average option price $ |
Outstanding at December 31, 2011 |  |  | 311,225 |  |  |  | 9.04 |
Exercised and released |  |  | (204,570 | ) |  |  | 8.38 |
Forfeited |  |  | (31,155 | ) |  |  | 9.02 |
Outstanding at December 31, 2012 |  |  | 75,500 |  |  |  | 10.09 |
Spin - off of Sibanye Gold - forefeited |  |  | (28,100 | ) |  |  | 10.09 |
Exercised and released |  |  | (31,147 | ) |  |  | 6.17 |
Forfeited |  |  | (16,253 | ) |  |  | 9.68 |
Outstanding at December 31, 2013 and 2014 |  |  | — |  |  |  | — |
Valuation Technique Monte Carlo |
Assumptions used to Value Options | The Group uses the Monte-Carlo Simulation to value the Performance Shares. The inputs to the model for awards granted during the period were as follows:
|  | 2014 |  |  | 2013 |
Weighted average historical volatility (based on a statistical analysis of the share price on a weighted moving average basis for the expected term of the option) |  |  | — |  |  |  | 33.1 | %
Expected term (years) |  |  | — |  |  |  | 3.00 |
Dividend yield |  |  | — |  |  |  | 4.60 | %
Weighted average three year risk free interest rate (based on US interest rates) |  |  | — |  |  |  | 0.20 | %
Weighted average fair value (South African rand) |  |  | — |  |  |  | 79.83 |
A future trading model is used to estimate the loss in value to the holders of Bonus Shares due to trading restrictions. The actual valuation is developed using a Monte-Carlo analysis of the future share price of Gold Fields:
Weighted average historical volatility (based on a statistical analysis of the share price on a weighted moving average basis for the expected term of the option) |  |  | 43.5 | % |  |  | 32.0 | %
Expected term (months) |  |  | 9 - 18 |  |  |  | 9 - 18 |
Dividend yield |  |  | 0.60 | % |  |  | 4.60 | %
Weighted average three year risk free interest rate (based on SA interest rates) |  |  | 5.50 | % |  |  | 4.10 | %
Weighted average fair value (South African rand) |  |  | 40.28 |  |  |  | 72.42 |

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- Definition Tabular disclosure of components of a stock option or other award plan under which equity-based compensation is awarded to employees, typically comprised of the amount of unearned compensation (deferred compensation cost), compensation expense, and changes in the quantity and fair value of the shares (or other type of equity) granted, exercised, forfeited, and issued and outstanding pertaining to that plan. Disclosure may also include nature and general terms of such arrangements that existed during the period and potential effects of those arrangements on shareholders, effect of compensation cost arising from equity-based payment arrangements on the income statement, method of estimating the fair value of the goods or services received, or the fair value of the equity instruments granted, during the period, cash flow effects resulting from equity-based payment arrangements and, for registrants that accelerate vesting of out of the money share options, reasons for the decision to accelerate. + 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 + Details
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