XML 65 R50.htm IDEA: XBRL DOCUMENT v3.10.0.1
Stock Compensation Plans (Tables)
 12 Months Ended
Dec. 31, 2018
Share-based Compensation Arrangement by Share-based Payment Award  
Summary of Stock Option Activity
The following table summarizes the activity related to options during 2018:
 
Options
 
Weighted Average
Exercise Price
 
Weighted Average
Remaining
Contractual Term
(Years)
 
Aggregate Intrinsic
Value (In millions)
Outstanding at January 1
6,597,098

 
$
19.91

 
 
 
 

Options granted
—

 
—

 
 
 
 

Options exercised
(684,374
)
 
14.43

 
 
 
$
9

Options expired
(72,205
)
 
23.46

 
 
 
 

Options cancelled
(260,067
)
 
28.57

 
 
 
 
Outstanding at December 31
5,580,452

 
20.14

 
4.5
 
24

Vested and expected to vest at December 31
5,485,525

 
19.93

 
4.5
 
24

Exercisable at December 31
4,717,476

 
17.93

 
4.0
 
24

Available for grant at December 31
16,211,852

 
 

 
 
 
 
Significant Options Groups Outstanding
Significant option groups outstanding at December 31, 2018 and related weighted average exercise price and remaining contractual term information follows:
Grant Date
 
Options Outstanding
 
Options Exercisable
 
Exercise Price
 
Remaining Contractual Term (Years)
2/27/2017
 
615,265

 
187,801

 
$
35.26

 
8.2

2/22/2016
 
598,622

 
324,268

 
29.90

 
7.2

2/23/2015
 
544,078

 
420,286

 
27.16

 
6.2

2/24/2014
 
391,667

 
391,667

 
26.44

 
5.2

2/28/2013
 
963,158

 
963,158

 
12.98

 
4.2

2/27/2012
 
748,001

 
748,001

 
12.94

 
3.2

2/22/2011
 
545,267

 
545,267

 
13.91

 
2.1

2/23/2010
 
377,324

 
377,324

 
12.74

 
1.1

2/26/2009
 
159,212

 
159,212

 
4.81

 
0.2

All Other
 
637,858

 
600,492

 
(1 
) 
 
(1 
) 
 
 
5,580,452

 
4,717,476

 
 

 
 

(1)
Options in the “All other” category had exercise prices ranging from $7.02 to $32.72. The weighted average exercise price for options outstanding and exercisable in that category was $19.31 and $18.58, respectively, while the remaining weighted average contractual term was 4.2 and 3.9, respectively.
Weighted Average Grant Date Fair Values of Stock Options and the Assumptions Used
Weighted average grant date fair values of stock options and the assumptions used in estimating those fair values are as follows:
 
2017
 
2016
Weighted average grant date fair value
$
12.05

 
$
11.92

Black-Scholes model assumptions(1):
 

 
 

Expected term (years)
7.20

 
7.20

Interest rate
2.13
%
 
1.45
%
Volatility
33.63
%
 
40.78
%
Dividend yield
1.13
%
 
0.94
%
(1)
We review the assumptions used in our Black-Scholes model in conjunction with estimating the grant date fair value of the annual grants of options by our Board of Directors. There were no stock options granted during 2018.
Stock-based Compensation Expense and Cash Activity
Stock-based compensation expense, cash payments made to settle SARs and cash received from the exercise of stock options follows:
(In millions)
2018
 
2017
 
2016
Stock-based compensation expense recognized
$
16

 
$
22

 
$
23

Tax benefit
(4
)
 
(6
)
 
(8
)
After-tax stock-based compensation expense
$
12

 
$
16

 
$
15

Cash payments to settle SARs
$
1

 
$
1

 
$
1

Cash received from stock option exercises
$
9

 
$
19

 
$
17
Performance Share Units  
Share-based Compensation Arrangement by Share-based Payment Award  
Nonvested Share Activity
The following table summarizes the activity related to performance share units during 2018:
 
Units
 
Weighted Average Grant Date Fair Value
Unvested at January 1
342,307

 
$
33.73

Units granted
195,583

 
29.04

Units vested
(157,396
)
 
30.95

Units forfeited
(47,298
)
 
33.63

Unvested at December 31
333,196

 
32.30
Restricted Stock Units  
Share-based Compensation Arrangement by Share-based Payment Award  
Nonvested Share Activity
The following table summarizes the activity related to restricted stock units during 2018:
 
Units
 
Weighted Average Grant Date Fair Value
Unvested at January 1
856,398

 
$
30.15

Units granted
935,656

 
28.54

Units vested and settled
(207,542
)
 
28.06

Units forfeited
(196,079
)
 
28.15

Unvested at December 31
1,388,433

 
29.81