Stock-Based Compensation (Tables)

9 Months Ended

Sep. 30, 2014

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Schedule of Employee Service Share-based Compensation, Allocation of Recognized Period Costs

Stock-based compensation expense is included on the Consolidated Statements of Income and Comprehensive Income based upon the job function of the employees receiving the grants as follows (in millions):



	Three Months Ended September 30,				Nine Months Ended September 30,
	2014		2013		2014		2013
Lease and Well	$	9.7	$	7.2	$	30.4	$	25.4
Gathering and Processing Costs	0.4		0.3		0.9		0.9
Exploration Costs	6.7		6.7		20.2		20.6
General and Administrative	21.7		31.3		52.1		56.3
Total	$	38.5	$	45.5	$	103.6	$	103.2

Weighted Average Fair Values and Valuation Assumptions

Weighted average fair values and valuation assumptions used to value stock option, SAR and ESPP grants during the nine-month periods ended September 30, 2014 and 2013 are as follows:



	Stock Options/SARs						ESPP
	Nine Months Ended September 30,						Nine Months Ended September 30,
	2014			2013			2014			2013
Weighted Average Fair Value of Grants	$	30.77		$	27.34		$	21.27		$	15.07
Expected Volatility	35.25		%	35.86		%	25.12		%	29.89		%
Risk-Free Interest Rate	0.95		%	0.78		%	0.08		%	0.11		%
Dividend Yield	0.6		%	0.4		%	0.5		%	0.6		%
Expected Life	5.2 years			5.5 years			0.5 years			0.5 years

Stock Options and SARs Transactions

The following table sets forth stock option and SAR transactions for the nine-month periods ended September 30, 2014 and 2013 (stock options and SARs in thousands):



	Nine Months Ended September 30, 2014				Nine Months Ended September 30, 2013
	Number of Stock Options/SARs		Weighted Average Grant Price		Number of Stock Options/SARs		Weighted Average Grant Price
Outstanding at January 1	10,452		$	54.43	12,438		$	42.91
Granted	2,122		101.65		2,234		83.66
Exercised ⁽¹⁾	(1,351	)	44.52		(3,648	)	34.52
Forfeited	(226	)	62.95		(168	)	48.38
Outstanding at September 30 ⁽²⁾	10,997		$	64.58	10,856		$	54.03
Vested or Expected to Vest ⁽³⁾	10,568		$	63.92	10,398		$	53.63
Exercisable at September 30 ⁽⁴⁾	5,573		$	49.23	4,982		$	44.03


(1)	The total intrinsic value of stock options/SARs exercised for the nine months ended September 30, 2014 and 2013 was $78.0 million and $134.2 million, respectively. The intrinsic value is based upon the difference between the market price of EOG's common stock on the date of exercise and the grant price of the stock options/SARs.


(2)	The total intrinsic value of stock options/SARs outstanding at September 30, 2014 and 2013 was $384.9 million and $332.3 million, respectively. At September 30, 2014 and 2013, the weighted average remaining contractual life was 4.6 years and 4.8 years, respectively.


(3)	The total intrinsic value of stock options/SARs vested or expected to vest at September 30, 2014 and 2013 was $376.6 million and $322.5 million, respectively. At September 30, 2014 and 2013, the weighted average remaining contractual life was 4.5 years and 4.7 years, respectively.


(4)	The total intrinsic value of stock options/SARs exercisable at September 30, 2014 and 2013 was $277.5 million and $202.4 million, respectively. At September 30, 2014 and 2013, the weighted average remaining contractual life was 3.3 years and 3.5 years, respectively.

Restricted Stock and Restricted Stock Unit Transactions

The following table sets forth restricted stock and restricted stock unit transactions for the nine-month periods ended September 30, 2014 and 2013 (shares and units in thousands):



	Nine Months Ended September 30, 2014				Nine Months Ended September 30, 2013
	Number of Shares and Units		Weighted Average Grant Date Fair Value		Number of Shares and Units		Weighted Average Grant Date Fair Value
Outstanding at January 1	7,358		$	49.54	7,636		$	45.53
Granted	1,024		99.00		1,284		75.93
Released ⁽¹⁾	(2,540	)	37.92		(1,234	)	52.89
Forfeited	(220	)	59.36		(160	)	47.70
Outstanding at September 30 ⁽²⁾	5,622		$	63.41	7,526		$	49.47


(1)	The total intrinsic value of restricted stock and restricted stock units released for the nine months ended September 30, 2014 and 2013 was $270.0 million and $89.2 million, respectively. The intrinsic value is based upon the closing price of EOG's common stock on the date restricted stock and restricted stock units are released.


(2)	The total intrinsic value of restricted stock and restricted stock units outstanding at September 30, 2014 and 2013 was $556.7 million and $637.0 million, respectively.

Weighted Average Fair Values and Valuation Assumptions for Performance Units/Stocks

Weighted average fair values and valuation assumptions used to value performance unit and performance stock grants during the nine-month periods ended September 30, 2014 and 2013 are as follows:



	Nine Months Ended September 30,
	2014			2013
Weighted Average Fair Value of Grants	$	119.27		$	100.34
Expected Volatility	32.18		%	33.63		%
Risk-Free Interest Rate	1.18		%	0.79		%

Performance Units and Performance Stock Transactions

The following table sets forth performance unit and performance stock transactions for the nine-month periods ended September 30, 2014 and 2013 (shares and units in thousands):



	Nine Months Ended September 30, 2014			Nine Months Ended September 30, 2013
	Number of Shares and Units	Weighted Average Grant Date Fair Value		Number of Shares and Units	Weighted Average Grant Date Fair Value
Outstanding at January 1	261	$	82.18	142	$	67.05
Granted	72	119.27		119	100.34
Released	—	—		—	—
Forfeited	—	—		—	—
Outstanding at September 30 ⁽¹⁾	333	$	90.17	261	$	82.18


(1)	The total intrinsic value of performance units and performance stock outstanding at September 30, 2014 and 2013 was $33.0 million and $22.1 million, respectively.