XML 63 R40.htm IDEA: XBRL DOCUMENT

Stock-based Compensation (Tables)

12 Months Ended

Dec. 31, 2019

The following table summarizes stock-based compensation costs for the years ended December 31, 2019, 2018 and 2017.



	Year Ended December 31
Millions of dollars	2019			2018			2017
Stock-based compensation cost	$	257		$	274		$	290
Tax benefit	(48		)	(51		)	(64		)
Stock-based compensation cost, net of tax	$	209		$	223		$	226

The following table represents our stock options activity during 2019.



	Number of Shares (in millions)		Weighted Average Exercise Price per Share		Weighted Average Remaining Contractual Term (years)	Aggregate Intrinsic Value (in millions)
Outstanding at January 1, 2019	21.2		$	45.44
Granted	5.4		25.46
Exercised	(0.2	)	21.30
Forfeited/expired	(1.1	)	40.71
Outstanding at December 31, 2019	25.3		$	41.58	5.9	$	1
Exercisable at December 31, 2019	17.6		$	45.56	4.6	$	—

The assumptions and resulting fair values of options granted were as follows:



	Year Ended December 31
	2019	2018	2017
Expected term (in years)	5.31	5.27	5.24
Expected volatility	31%	28%	32%
Expected dividend yield	2.25 - 3.88%	1.37 - 2.29%	1.28 - 1.72%
Risk-free interest rate	1.35 - 2.51%	2.27 - 2.84%	1.79 - 2.14%
Weighted average grant-date fair value per share	$5.91	$11.56	$13.11

The following table represents our restricted stock awards and restricted stock units granted, vested and forfeited during 2019.



	Number of Shares (in millions)		Weighted Average Grant-Date Fair Value per Share
Nonvested shares at January 1, 2019	14.4		$	46.01
Granted	9.8		24.75
Vested	(4.7	)	46.91
Forfeited	(1.4	)	40.34
Nonvested shares at December 31, 2019	18.1		$	34.72

The assumptions and resulting fair values were as follows:



	Year Ended December 31
	2019			2018			2017
Expected volatility	34		%	25		%	29		%
Expected dividend yield	3.06		%	1.62		%	1.51		%
Risk-free interest rate	2.20		%	1.92		%	0.86		%
Weighted average grant-date fair value per share	$	5.22		$	8.86		$	9.95