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Stock Compensation Plans (Tables)
 12 Months Ended
Dec. 31, 2019
Share-based Compensation Arrangement by Share-based Payment Award  
Summary of Stock Option Activity
The following table summarizes the activity related to options during 2019:
 
Options
 
Weighted Average
Exercise Price
 
Weighted Average
Remaining
Contractual Term
(Years)
 
Aggregate Intrinsic
Value (In millions)
Outstanding at January 1
5,580,452

 
$
20.14

 
 
 
 

Options granted
—

 
—

 
 
 
 

Options exercised
(240,237
)
 
8.07

 
 
 
$
3

Options expired
(73,556
)
 
12.08

 
 
 
 

Options cancelled
(268,638
)
 
24.11

 
 
 
 
Outstanding at December 31
4,998,021

 
20.61

 
3.7
 
7

Vested and expected to vest at December 31
4,966,300

 
20.53

 
3.7
 
6

Exercisable at December 31
4,709,647

 
19.83

 
3.5
 
7

Available for grant at December 31
12,305,582

 
 

 
 
 
 
Significant Options Groups Outstanding
Significant option groups outstanding at December 31, 2019 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
 
564,976

 
378,284

 
$
35.26

 
7.2

2/22/2016
 
549,546

 
459,160

 
29.90

 
6.2

2/23/2015
 
493,730

 
493,730

 
27.16

 
5.2

2/24/2014
 
381,617

 
381,617

 
26.44

 
4.2

2/28/2013
 
913,705

 
913,705

 
12.98

 
3.2

2/27/2012
 
729,530

 
729,530

 
12.94

 
2.2

2/22/2011
 
530,288

 
530,288

 
13.91

 
1.1

2/23/2010
 
322,387

 
322,387

 
12.74

 
0.1

All Other
 
512,242

 
500,946

 
(1 
) 
 
(1 
) 
 
 
4,998,021

 
4,709,647

 
 

 
 

(1)
Options in the “All other” category had exercise prices ranging from $9.54 to $32.72. The weighted average exercise price for options outstanding and exercisable in that category was $20.27 and $20.00, respectively, while the remaining weighted average contractual term was 3.7 and 3.6, 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
Weighted average grant date fair value
 
$
12.05

Black-Scholes model assumptions(1):
 
 

Expected term (years)
 
7.20

Interest rate
 
2.13
%
Volatility
 
33.63
%
Dividend yield
 
1.13
%
(1)
We review the assumptions used in our Black-Scholes model in conjunction with estimating the grant date fair value of grants of options by our Board of Directors. There were no stock options granted during 2019 or 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)
2019
 
2018
 
2017
Stock-based compensation expense recognized
$
27

 
$
16

 
$
22

Tax benefit
(7
)
 
(4
)
 
(6
)
After-tax stock-based compensation expense
$
20

 
$
12

 
$
16

Cash payments to settle SARs
$
—

 
$
1

 
$
1

Cash received from stock option exercises
$
2

 
$
9

 
$
19
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 2019:
 
Units
 
Weighted Average Grant Date Fair Value
Unvested at January 1
333,196

 
$
32.30

Units granted
453,795

 
18.01

Units vested
(123,681
)
 
36.78

Units forfeited
(75,310
)
 
27.24

Unvested at December 31
588,000

 
20.98
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 2019:
 
Units
 
Weighted Average Grant Date Fair Value
Unvested at January 1
1,388,433

 
$
29.81

Units granted
1,883,570

 
19.05

Units vested and settled
(280,593
)
 
29.64

Units forfeited
(256,935
)
 
25.49

Unvested at December 31
2,734,475

 
23.21