Stock-Based Compensation (Tables)

9 Months Ended

Sep. 30, 2019

Share-based Payment Arrangement [Abstract]

The Company recorded stock-based compensation expense of $6 million and $7 million ($5 million and $5 million, net of tax) during the three months ended September 30, 2019 and 2018, respectively, and $18 million ($14 million, net of tax) during the nine months ended September 30, 2019 and 2018, in each period.

The activity related to restricted stock units (“RSUs”) consisted of (in thousands of shares):



			Number of Shares		Weighted Average Grant Date Fair Value		Weighted Average Remaining Contractual Term (years)	Aggregate Intrinsic Value (in millions)
Time-based RSUs
	Outstanding at January 1, 2019		838		$	38.67
		Granted ^(a)	606		34.17
		Vested ^(b)	(502	)	36.00
		Forfeited	(56	)	38.76
	Outstanding and expected to vest at September 30, 2019 ^(c)		886		$	37.10	1.3	$	25
Performance-based and market-based RSUs
	Outstanding at January 1, 2019		1,169		$	35.14
		Granted ^(a)	570		34.56
		Vested	—		—
		Forfeited	(430	)	24.85
	Outstanding at September 30, 2019		1,309		$	38.27	1.6	$	37
	Outstanding and expected to vest at September 30, 2019 ^(c)		524		$	39.31	1.9	$	15

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^(a)	Reflects the maximum number of stock units assuming achievement of all performance-, market- and time-vesting criteria and does not include those for non-employee directors. The weighted-average fair value of time-based RSUs and performance-based RSUs granted during the nine months ended September 30, 2018 was $48.41 and $48.52, respectively.


^(b)	The total fair value of RSUs vested during September 30, 2019 and 2018 was $18 million and $20 million, respectively.


^(c)	Aggregate unrecognized compensation expense related to time-based RSUs and performance-based RSUs amounted to $36 million and will be recognized over a weighted average vesting period of 1.5 years.

Summary Of Share Based Compensation Shares Authorized Under Stock Option Plans By Exercise Price Range

The stock option activity consisted of (in thousands of shares):



		Number of Options		Weighted Average Exercise Price		Weighted Average Remaining Contractual Term (years)	Aggregate Intrinsic Value (in millions)
Outstanding at January 1, 2019		57		$	0.79	0.1	$	1
	Granted	—		—			—
	Exercised ^(a)	(57	)	0.79			1
	Forfeited/expired	—		—			—
Outstanding and exercisable at September 30, 2019		—		$	—	—	$	—

__________

^(a)

Stock options exercised during the nine months ended September 30, 2018 had an aggregate intrinsic value of $8 million and the cash received was $2 million.