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Share-Based Compensation | 9 Months Ended
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Sep. 30, 2014
Share-based Compensation [Abstract] |
Share-Based Compensation | 4. Share-Based Compensation The following table presents the effects of share-based compensation included in Devon’s accompanying comprehensive statements of earnings. Devon’s gross general and administrative expense for the first nine months of 2014 includes $11 million of unit-based compensation related to grants made under EnLink’s long-term incentive plans. T he vesting for certain share-based awards was accelerated in the first quarter of 2014 in conjunction with the divestiture of Devon’s Canadian conventional assets. The associated expense for these accelerated awards is included in restructuring costs in the accompanying comprehensive statements of earnings. See Note 6 for further details.
|  | Nine Months Ended September 30,
|  | 2014 |  | 2013
|  | (In millions)
Gross general and administrative expense |  | $ | 155 |  | $ | 118
Share-based compensation expense capitalized pursuant to the |  |  |  |  |  |
full-cost method of accounting for oil and gas properties |  | $ | 40 |  | $ | 44
Related income tax benefit |  | $ | 20 |  | $ | 17
Under its 2009 Long-Term Incentive Plan, as amended, Devon granted share-based awards to certain employees in the first nine months of 2014. The following sections include information related to these awards. Restricted Stock Awards and Units The following table presents a summary of Devon's unvested restricted stock awards and units.
|  |  | Restricted Stock Award & Units |  | Weighted Average Grant-Date Fair Value
|  |  | (In thousands) |  |  |
Unvested at December 31, 2013 |  |  | 3,292 |  | $ | 59.76
Granted |  |  | 3,412 |  | $ | 63.53
Vested |  |  | (558) |  | $ | 60.65
Forfeited |  |  | (607) |  | $ | 60.96
Unvested at September 30, 2014 |  |  | 5,539 |  | $ | 61.73
As of September 30, 2014, Devon's unrecognized compensation cost related to unvested restricted stock awards and units was $225 million. Such cost is expected to be recognized over a weighted-average period of 2.4 years. Performance Based Restricted Stock Awards The following table presents a summary of Devon's performance based restricted stock awards.
|  |  | Performance Restricted Stock Awards |  | Weighted Average Grant-Date Fair Value
|  |  | (In thousands) |  |  |
Unvested at December 31, 2013 |  |  | 316 |  | $ | 56.25
Granted |  |  | 234 |  | $ | 61.33
Vested |  |  | (75) |  | $ | 53.45
Unvested at September 30, 2014 |  |  | 475 |  | $ | 59.20
As of September 30, 2014, Devon's unrecognized compensation cost related to these awards was $7 million. Such cost is expected to be recognized over a weighted-average period of 1.4 years. Performance Share Units The following table presents a summary of the grant-date fair values of performance share units granted in 2014 and the related assumptions.
| 2014 |
Grant-date fair value | $ | 70.18 | - | $ | 81.05 |
Risk-free interest rate |  |  |  |  | 0.54% |
Volatility factor |  |  |  |  | 28.8% |
Contractual term (in years) |  |  |  |  | 2.89 |
The following table presents a summary of Devon’s performance share units.
|  |  | Performance Share Units |  | Weighted Average Grant-Date Fair Value
|  |  | (In thousands) |  |  |
Unvested at December 31, 2013 |  |  | 925 |  | $ | 66.64
Granted |  |  | 708 |  | $ | 77.77
Forfeited |  |  | (147) |  | $ | 77.25
Unvested at September 30, 2014 (1) |  |  | 1,486 |  | $ | 70.89
____________________________
| (1) |  | A maximum of 3.0 million common shares could be awarded based upon Devon’s final total shareholder return ranking.
As of September 30, 2014, Devon's unrecognized compensation cost related to unvested units was $40 million. Such cost is expected to be recognized over a weighted-average period of 1.6 years.

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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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