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Share-Based Compensation (Tables)
 12 Months Ended
Dec. 31, 2017
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Share-Based Compensation Cost Table
The following summarizes share-based compensation expense for the years ended December 31:
millions
2017
 
2016
 
2015
Restricted stock (1)
$
145

 
$
175

 
$
157

Stock options (1)
17

 
20

 
19

Other equity-classified awards
1

 
2

 
1

Value creation plan
—

 
—

 
(4
)
Performance-based unit awards (1)
(13
)
 
38

 
(1
)
Pretax share-based compensation expense
$
150

 
$
235

 
$
172

Income tax benefit
$
35

 
$
86

 
$
64


__________________________________________________________________
(1) 
Includes restructuring charges of $(7) million for performance-based unit awards in 2017 and $31 million for restricted stock, $1 million for stock options, and $7 million for performance-based unit awards in 2016. See Note 18—Restructuring Charges for further discussion.
Restricted Stock Activity Table
The following summarizes the Company’s restricted stock activity:
 
Shares
(millions)
 
Weighted-Average
Grant-Date
Fair Value
(per share)
Non-vested at January 1, 2017
4.54

 
$
62.74

Granted
2.60

 
$
59.92

Vested
(2.21
)
 
$
67.02

Forfeited
(0.24
)
 
$
60.95

Non-vested at December 31, 2017
4.69

 
$
59.24
Stock Option Valuation Assumptions Table
The Company used the following weighted-average assumptions to estimate the fair value of stock options granted:
 
2017
 
2016
 
2015
Weighted-average grant-date fair value
$
14.77
 
 
$
15.92
 
 
$
18.18
 
Assumptions
 
 
 
 
 
 
 
 
Expected option life—years
4.8
 
 
4.1
 
 
4.9
 
Volatility
33.6
%
 
38.2
%
 
32.4
%
Risk-free interest rate
2.0
%
 
1.3
%
 
1.4
%
Dividend yield
0.4
%
 
0.6
%
 
1.4
%
Stock Option Activity Table
The following summarizes the Company’s stock option activity:
 
Shares
(millions)
 
Weighted-
Average
Exercise
Price
(per share)
 
Weighted-
Average
Remaining
Contractual
Term
(years)
 
Aggregate
Intrinsic
Value
(millions)
Outstanding at January 1, 2017
6.62

 
$
76.10

 
 
 
 
Granted
1.48

 
$
49.82

 
 
 
 
Exercised (1)
—

 
$
47.20

 
 
 
 
Forfeited or expired
(1.53
)
 
$
70.71

 
 
 
 
Outstanding at December 31, 2017
6.57

 
$
71.44

 
3.64
 
$
7.4

Vested or expected to vest at December 31, 2017
6.57

 
$
71.44

 
3.64
 
$
7.4

Exercisable at December 31, 2017
4.41

 
$
79.86

 
2.29
 
$
0.1


__________________________________________________________________
(1) 
The total intrinsic value of stock options exercised was zero during 2017, $7 million during 2016, and $23 million during 2015, based on the difference between the market price at the exercise date and the exercise price.