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Stock-Based Compensation (Tables)
 12 Months Ended
Dec. 31, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Line Items]  
Schedule Of Valuation Assumptions



 

 

 

 

 

Assumptions

2016

 

2015

 

2014

Risk-free interest rate

 1.4% 

 

 1.7% 

 

 1.6% 

Expected dividend yield

–   

 

–   

 

 –   

Expected volatility

 41.0% 

 

 36.0% 

 

 32.5% 

Expected term

5 years

 

5 years

 

5 years



Summary Of Stock Option Activity



 

 

 

 

 

 

 

 

 

 

 

 

 

 

 



 

2016

 

2015

 

2014



 

 

 

Weighted

 

 

 

Weighted

 

 

 

Weighted



 

 

 

Average

 

 

 

Average

 

 

 

Average



 

Number

 

Exercise

 

Number

 

Exercise

 

Number

 

Exercise



 

of Shares

 

Price

 

of Shares

 

Price

 

of Shares

 

Price



 

(in thousands)

 

 

 

 

(in thousands)

 

 

 

 

(in thousands)

 

 

 

Options outstanding at January 1

 

 5,623 

 

$

 24.57 

 

 3,622 

 

$

 35.41 

 

 3,313 

 

$

 35.70 

Granted (1)

 

 155 

 

 

 8.60 

 

 2,401 

 

 

 9.47 

 

 835 

 

 

 32.31 

Exercised

 

 (45)

 

 

 7.74 

 

–  

 

 

–  

 

 (402)

 

 

 30.60 

Forfeited or expired

 

 (317)

 

 

 38.01 

 

 (400)

 

 

 32.20 

 

 (124)

 

 

 37.80 

Options outstanding at December 31

 

 5,416 

 

$

 23.46 

 

 5,623 

 

$

 24.57 

 

 3,622 

 

$

 35.41 



Shares granted in 2016 are considerably lower than historical norms.  In 2016, the Company changed the grant date of its annual stock option awards from December to the following February.

Summary Of Stock Options Outstanding And Options Exercisable



 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 



 

Options Outstanding

 

Options Exercisable



 

 

 

 

 

 

Weighted

 

 

 

 

 

 

 

 

Weighted

 

 

 



 

Options

 

Weighted

 

Average

 

 

 

 

Options

 

Weighted

 

Average

 

 

 



 

Outstanding at

 

Average

 

Remaining

 

 

Aggregate

 

Exercisable at

 

Average

 

Remaining

 

 

Aggregate

Range of

 

December 31,

 

Exercise

 

Contractual

 

 

Intrinsic

 

December 31,

 

Exercise

 

Contractual

 

 

Intrinsic

Exercise Prices

 

2016

 

Price

 

Life

 

 

Value

 

2016

 

Price

 

Life

 

 

Value



 

(in thousands)

 

 

 

 

(years)

 

 

( in millions)

 

(in thousands)

 

 

 

 

(years)

 

 

(in millions)

$7.74-$29.69

 

 2,501 

 

 

 9.54 

 

 5.9 

 

 

 

 

 781 

 

 

 9.77 

 

 5.8 

 

 

 

$30.59-$35.91

 

 1,384 

 

 

 32.32 

 

 3.9 

 

 

 

 

 1,146 

 

 

 32.68 

 

 3.7 

 

 

 

$36.22-$39.68

 

 1,402 

 

 

 37.49 

 

 2.4 

 

 

 

 

 1,402 

 

 

 37.49 

 

 2.4 

 

 

 

$40.15-$51.47

 

 129 

 

 

 45.79 

 

 3.3 

 

 

 

 

 99 

 

 

 45.57 

 

 3.0 

 

 

 



 

 5,416 

 

$

 23.46 

 

 4.4 

 

$

 7 

 

 3,428 

 

$

 29.80 

 

 3.6 

 

$

 2 



Summary Of Restricted Stock Activity



 

 

 

 

 

 

 

 

 

 

 

 

 

 

 



 

2016

 

2015

 

2014



 

Number of Shares

 

 

Weighted Average Fair Value

 

Number of Shares

 

 

Weighted Average Fair Value

 

Number of Shares

 

 

Weighted Average Fair Value



 

(in thousands)

 

 

 

 

(in thousands)

 

 

 

 

(in thousands)

 

 

 

Unvested shares at January 1

 

 7,222 

 

$

 13.24 

 

 2,376 

 

$

 34.00 

 

 1,771 

 

$

 37.55 

Granted (1)

 

 81 

 

 

 8.56 

 

 5,822 

 

 

 8.07 

 

 1,295 

 

 

 30.89 

Vested (2)

 

 (3,817)

 

 

 11.34 

 

 (873)

 

 

 33.33 

 

 (548)

 

 

 37.12 

Forfeited

 

 (165)

 

 

 12.05 

 

 (103)

 

 

 29.14 

 

 (142)

 

 

 37.91 

Unvested shares at December 31

 

 3,321 

 

$

 11.85 

 

 7,222 

 

$

 13.24 

 

 2,376 

 

$

 34.00 



(1)

Shares granted in 2016 are considerably lower than historical norms.  In 2016, the Company changed the grant date of its annual restricted stock awards from December to the following February.

(2)

Includes 2,059,626 shares and 151,575 shares related to reduction in workforce and executive management restructuring, respectively, for the year ended December 31, 2016.
Summary Of Equity-Classified Performance Units Activity



 

 

 

 

 

 

 

 

 

 

 

 

 

 

 



 

2016

 

2015

 

2014



 

Number of Units (1)

 

Weighted Average Fair Value

 

Number of Units (1)

 

Weighted Average Fair Value

 

Number of Units (1)

 

Weighted Average Fair Value



 

(in thousands)

 

 

 

 

(in thousands)

 

 

 

 

(in thousands)

 

 

 

Unvested shares at January 1

 

 407 

 

$

 36.65 

 

 223 

 

$

 40.44 

 

 –  

 

$

 –  

Granted

 

 1,503 

 

 

 8.60 

 

 443 

 

 

 35.22 

 

 359 

 

 

 40.44 

Vested(2)

 

 (889)

 

 

 12.78 

 

 (259)

 

 

 37.46 

 

 (111)

 

 

 40.44 

Forfeited(3)

 

 (302)

 

 

 11.26 

 

 –  

 

 

 –  

 

 (25)

 

 

 40.44 

Unvested shares at December 31

 

 719 

 

$

 11.46 

 

 407 

 

$

 36.65 

 

 223 

 

$

 40.44 



(1)

These amounts reflect the number of performance units granted in thousands. The actual payout in shares may range from a minimum of zero shares to a maximum of two shares contingent upon the actual performance against the Performance Measures.  The performance units have a three-year vesting term and the actual disbursement of shares, if any, is not determined until March following the end of the three-year vesting period.

(2)

Includes 22,918 units and 37,590 units related to the reduction in workforce and executive management restructuring, respectively, for the year ended December 31, 2016.

(3)

Includes 87,595 units and 195,834 units related to the reduction in workforce and executive management restructuring, respectively, for the year ended December 31, 2016.
Unvested Stock Options [Member]  
Disclosure of Compensation Related Costs, Share-based Payments [Line Items]  
Schedule Of Stock-Based Compensation Costs



 

 

 

 

 

 

 

 



2016

 

2015

 

2014



 

(in millions)

Stock-based compensation cost related to stock options – general and administrative expense (1)

$

 6 

 

$

 5 

 

$

 5 

Stock-based compensation cost related to stock options – capitalized

$

 1 

 

$

 3 

 

$

 4 



(1)

Includes less than $1 million and $1 million related to the reduction in workforce and executive management restructuring, respectively, for the year ended December 31, 2016.
Restricted Stock [Member]  
Disclosure of Compensation Related Costs, Share-based Payments [Line Items]  
Schedule Of Stock-Based Compensation Costs



 

 

 

 

 

 

 

 



2016

 

2015

 

2014



 

(in millions)

Stock-based compensation cost related to restricted stock grants – general and administrative expense (1)

$

 33 

 

$

 14 

 

$

 10 

Stock-based compensation cost related to restricted stock grants – capitalized

$

 8 

 

$

 16 

 

$

 12 



(1)

Includes $16 million and $1 million related to the reduction in workforce and executive management restructuring, respectively, for the year ended December 31, 2016.
Equity-Classified Performance Units [Member]  
Disclosure of Compensation Related Costs, Share-based Payments [Line Items]  
Schedule Of Stock-Based Compensation Costs



 

 

 

 

 

 

 

 



2016

 

2015

 

2014



(in millions)

Stock-based compensation cost related to performance units – general and administrative expense (1)

$

 9 

 

$

 6 

 

$

 3 

Stock-based compensation cost related to performance units – capitalized

$

 1 

 

$

 4 

 

$

 2 



(1)

Includes less than $1 million and $1 million related to reduction in workforce and executive management restructuring, respectively, for the year ended December 31, 2016.