Stock-Based Compensation (Tables)

3 Months Ended

Mar. 31, 2020

Share-based Payment Arrangement [Abstract]

The Company recorded stock-based compensation of $(2) million net, due to reversal of expenses recorded in previous quarters, and $5 million expense ($(1) million and $4 million, net of tax) during the three months ended March 31, 2020 and 2019, respectively.

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, 2020		847		$	36.99
		Granted ^(a)	568		21.67
		Vested ^(b)	(376	)	38.29
		Forfeited	(34	)	38.91
	Outstanding and expected to vest at March 31, 2020 ^(c)		1,005		$	27.78	1.6	$	14
Performance-based RSUs
	Outstanding at January 1, 2020		1,061		$	38.89
		Granted ^(a)	515		21.09
		Vested ^(b)	(73	)	36.64
		Forfeited	(380	)	35.54
	Outstanding at March 31, 2020		1,123		$	32.01	2.2	$	16
	Outstanding and expected to vest at March 31, 2020 ^(c)		257		$	21.09	2.9	$	4

__________


^(a)	Reflects the maximum number of stock units assuming achievement of all performance- 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 three months ended March 31, 2019 was $34.82.


^(b)	The total fair value of RSUs vested during March 31, 2020 and 2019 was $17 million and $12 million, respectively.

^(c)

Aggregate unrecognized compensation expense related to time-based RSUs and performance-based RSUs amounted to $32 million and will be recognized over a weighted average vesting period of 1.9 years.