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Stock-Based Compensation
3 Months Ended
Mar. 31, 2020
Share-based Payment Arrangement [Abstract]  
Share-based Payment Arrangement [Text Block] STOCK-BASED COMPENSATION

We have stock award plans covering certain key employees and directors, which provide for awards of stock options, SSARs, restricted stock units, and performance stock units. In addition, we offer an Employee Stock Purchase Plan to employees.

The fair value of our restricted stock, restricted stock units, and performance stock units is the closing stock price of the Company’s common stock the day preceding the grant date.

During the first three months of 2020, we granted 239,617 and 250,178 of performance and restricted stock units, respectively, at an average grant date fair value of $31.75 per share.

We recognized $2 million in stock-based compensation expense for the three months ended March 31, 2020 and 2019, respectively. At March 31, 2020, there was $18 million of unrecognized compensation expense related to unvested performance stock units, restricted stock units, and SSARs attributable to future service that had not yet been recognized.