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Stock-Based and Other Compensation Plans (Tables)
12 Months Ended
Dec. 31, 2017
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Stock-based compensation expense
We recognized total stock-based compensation expense as follows:
 
 
Year Ended December 31,
(millions)
 
2017
 
2016
 
2015
Stock-Based Compensation Expense Included in:
 
 
 
 
 
 
General and Administrative Expense
 
$
56

 
$
62

 
$
50

Exploration Expense and Other
 
48

 
15

 
36

Total Stock-Based Compensation Expense
 
$
104

 
$
77

 
$
86

Tax Benefit Recognized
 
$
(36
)
 
$
(27
)
 
$
(30
)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Schedule of components for Rabbi Trust
Components of that rabbi trust are as follows:
 
 
December 31,
(millions, except share amounts)
 
2017
 
2016
Rabbi Trust Assets
 
 
 
 
Mutual Fund Investments
 
$
57

 
$
62

Noble Energy Common Stock (at Fair Value)
 
14

 
26

Total Rabbi Trust Assets
 
$
71

 
$
88

Liability Under Related Deferred Compensation Plan
 
$
71

 
$
88

Number of Shares of Noble Energy Common Stock Held by Rabbi Trust
 
470,030

 
671,269

Stock Option  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions
The assumptions used in valuing stock options granted were as follows:
 
 
Year Ended December 31,
(weighted averages)
 
2017
 
2016
 
2015
Expected Term (in Years)
 
6.4

 
6.3

 
6.0

Expected Volatility
 
33.2
%
 
32.4
%
 
32.6
%
Risk-Free Rate
 
2.2
%
 
1.6
%
 
1.4
%
Expected Dividend Yield
 
0.9
%
 
0.7
%
 
1.2
%
Weighted Average Grant-Date Fair Value
 
$
13.26

 
$
10.10

 
$
13.93

Share-based Compensation Awards
Stock option activity was as follows:
 
 
Options
 
Weighted
Average
Exercise
 Price
 
Weighted
Average
Remaining
 Contractual Term
 
Aggregate
 Intrinsic Value
 
 
 
 
(per share)
 
(in years)
 
(in millions)
Outstanding at December 31, 2016
 
15,088,862

 
$
43.49

 
 
 
 
Granted
 
1,819,819

 
39.40

 
 
 
 
Exercised
 
(382,882
)
 
37.57

 
 
 
 
Forfeited
 
(976,577
)
 
43.93

 
 
 
 
Outstanding at December 31, 2017
 
15,549,222

 
$
43.42

 
5.0
 
$
6

Exercisable at December 31, 2017
 
12,101,890

 
$
44.98

 
4.0
 
$
6

Restricted Stock  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions
The assumptions used in valuing market based restricted stock awards granted were as follows:
 
Year Ended December 31,
 
2017
 
2016
 
2015
Number of Simulations
500,000

 
500,000

 
500,000

Expected Volatility
35
%
 
38
%
 
30
%
Risk-Free Rate
1.5
%
 
1.0
%
 
0.8
%
Share-based Compensation Awards
Restricted stock activity was as follows:
 
 
Subject to Time Vesting
 
Subject to Market Conditions
 
 
Number of Shares
 
Weighted
Average
Award Date
 Fair Value
 
Number of Shares
 
Weighted Average Award Date Fair Value
 
 
 
 
(per share)
 
 
 
(per share)
Outstanding at December 31, 2016
 
1,371,780

 
$
36.37

 
1,502,992

 
$
27.43

Awarded (1)
 
3,201,504

 
36.26

 
464,608

 
24.25

Vested (1)
 
(2,515,383
)
 
34.93

 
(219,883
)
 
44.61

Forfeited
 
(218,164
)
 
37.66

 
(535,012
)
 
33.12

Outstanding at December 31, 2017
 
1,839,737

 
$
37.21

 
1,212,705

 
$
25.55


(1) 
During 2017, we awarded approximately 1.9 million shares of restricted stock for the conversion of Clayton Williams Energy shares into Noble Energy shares as part of the Clayton Williams Energy Acquisition. All awards subsequently vested during 2017. These awards are included in the above table. See Note 3. Clayton Williams Energy Acquisition.
Phantom Share Units (PSUs)  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Share-based Compensation Awards
Phantom unit activity was as follows:
 
 
Subject to Time Vesting
 
Subject to Market Conditions
 
 
Number of Units
 
Weighted
Average
Award Date
 Fair Value
 
Number of Units
 
Weighted Average Award Date Fair Value
 
 
 
 
(per share)
 
 
 
(per share)
Outstanding at December 31, 2016
 
712,089

 
$
31.65

 
209,504

 
$
6.82

Vested
 
(13,305
)
 
31.65

 

 

Forfeited
 
(88,625
)
 
31.65

 
(42,021
)
 
6.82

Outstanding at December 31, 2017
 
610,159

 
$
31.65

 
167,483

 
$
6.82