XML 78 R45.htm IDEA: XBRL DOCUMENT v3.8.0.1
Incentive Based Compensation Plans (Tables)
12 Months Ended
Dec. 31, 2017
Incentive Based Compensation Plans [Abstract]  
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value
The weighted average grant date fair value of these awards was based on the following weighted average Black-Scholes assumptions:

2017
 
2016
 
2015
Exercise price per share
$15.80
 
$7.22
 
$29.06
Expected annual dividend yield
1.3
%
 
2.8
%
 
2.9
%
Expected life in years
6.4

 
6.3

 
6.2

Expected volatility
42
%
 
36
%
 
32
%
Risk-free interest rate
2.1
%
 
1.4
%
 
1.7
%
Weighted average grant date fair value of stock option awards granted
$6.07
 
$1.97
 
$6.84
Schedule of Share-based Compensation, Stock Options, Activity
The following is a summary of stock option award activity in 2017.
 
Number
 
Weighted Average
 
Weighted Average
Remaining
 
Aggregate Intrinsic Value
 
of Shares
 
Exercise Price
 
Contractual Term
 
(in millions)
Outstanding at beginning of year
11,915,533
 
$27.71
 
 
 
 
Granted
799,591
 
$15.80
 
 
 
 
Exercised
(8,666)
 
$7.22
 
 
 
 
Canceled
(2,375,682)
 
$33.31
 
 
 
 
Outstanding at end of year
10,330,776
 
$25.52
 
4 years
 
$
13

Exercisable at end of year
8,661,893

 
$27.91
 
3 years
 
$
5

Expected to vest
1,650,737

 
$13.08
 
9 years
 
$
8

Schedule of Nonvested Restricted Stock Units Activity
The following is a summary of restricted stock and restricted stock unit award activity in 2017.
 
Awards
 
Weighted Average
Grant Date
Fair Value
Unvested at beginning of year
6,933,533

  
$14.44
Granted
4,198,624

 
$16.13
Vested & Exercised
(2,472,367
)
 
$17.67
Canceled
(1,086,945
)
 
$15.03
Unvested at end of year
7,572,845

  
$14.24
Schedule of Performance Units, Valuation [Table Text Block]
The key assumptions used in the Monte Carlo simulation to determine the fair value of stock-based performance units granted in 2017, 2016 and 2015 were:
 
2017
 
2016
 
2015 (a)
Valuation date stock price
$16.93
 
$16.93
 
$16.93
Expected annual dividend yield
1.2
%
 
1.2
%
 
1.2
%
Expected volatility
54
%
 
34
%
 
33
%
Risk-free interest rate
1.9
%
 
1.7
%
 
1.4
%
Fair value of stock-based performance units outstanding
$21.63
 
$19.86
 
$0.00

(a) As of December 31, 2017, there were no 2015 performance unit awards outstanding.