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Stockholders' Equity, Restricted Stock, Stock Options and Noncontrolling Interests (Disclosures) (Tables)
 12 Months Ended
Dec. 31, 2012
Text Block [Abstract]  
Common Stock
Common Stock
The following is a summary of the changes in our common shares issued for 2012, 2011 and 2010:
 
 
Years Ended December 31,
 
 
2012
 
2011
 
2010
 
 
(in thousands)
Shares issued at January 1
 
660,888

 
655,251

 
648,549

Restricted stock issuances (net of forfeitures)
 
5,038

 
4,961

 
5,924

Stock option exercises
 
542

 
565

 
458

Preferred stock conversion
 
—

 
111

 
21

Convertible note exchanges
 
—

 
—

 
299

Shares issued at December 31
 
666,468

 
660,888

 
655,251

In 2010, we privately exchanged approximately $11 million in aggregate principal amount of our 2.25% Contingent Convertible Senior Notes due 2038 for an aggregate of 298,500 shares of our common stock valued at approximately $9 million. The difference between the allocated debt value of the notes that were exchanged and the fair value of the common stock issued resulted in a $2 million loss (including a nominal amount of deferred charges associated with the exchanges).
Preferred Stock
Preferred Stock
Following is a summary of our preferred stock, including the primary conversion terms as of December 31, 2012:
Preferred Stock Series
 
Issue Date
 
Liquidation
Preference
per Share
 
Holder's Conversion Right
 
Conversion Rate
 
Conversion Price
 
Company's
Conversion
Right From
 
Company's Market Conversion Trigger(a)
5.75% cumulative
convertible
non-voting
 
May and
June 2010
 
$
1,000

 
Any time
 
$
37.0892

 
$
26.9620

 
May 17, 2015
 
$
35.0506

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
5.75% (series A)
cumulative
convertible
non-voting
 
May
2010
 
$
1,000

 
Any time
 
$
35.8414

 
$
27.9007

 
May 17, 2015
 
$
36.2709

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
4.50% cumulative convertible
 
September 2005
 
$
100

 
Any time
 
$
2.2861

 
$
43.7429

 
September 15, 2010
 
$
56.8658

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
5.00% cumulative convertible (series 2005B)
 
November 2005
 
$
100

 
Any time
 
$
2.5876

 
$
38.6454

 
November 15, 2010
 
$
50.2390

___________________________________________
(a)
Convertible at the Company's option if the trading price of the Company's common stock equals or exceeds the trigger price for a specified time period or after the conversion date indicated if there are less than 250,000 shares of 4.50% or 5.00% (series 2005B) preferred stock outstanding or 25,000 shares of 5.75% or 5.75% (series A) preferred stock outstanding.
The following reflects our preferred shares outstanding for 2012, 2011 and 2010: 
 
 
5.75%
 
5.75% (A)  
 
4.5%
 
5.00%
(2005B)  
 
5.00%
(2005)
 
 
(in thousands)
 
 
Shares outstanding at January 1, 2012 and
December 31, 2012
 
1,497

 
1,100

 
2,559

 
2,096

 
—

 
 
 
 
 
 
 
 
 
 
 
Shares outstanding at January 1, 2011
 
1,500


1,100


2,559


2,096

 
—

Conversion of preferred shares into
common stock
 
(3
)
 
—

 
—

 
—

 
—

Shares outstanding at December 31, 2011
 
1,497

 
1,100

 
2,559

 
2,096

 
—

 
 
 
 
 
 
 
 
 
 
 
Shares outstanding at January 1, 2010
 
—

 
—

 
2,559

 
2,096

 
5

Preferred stock issuances
 
1,500

 
1,100

 
—

 
—

 
—

Conversion of preferred shares into
common stock
 
—

 
—

 
—

 
—

 
(5
)
Shares outstanding at December 31, 2010
 
1,500

 
1,100

 
2,559

 
2,096

 
—

In 2011 and 2010, shares of our cumulative convertible preferred stock were converted into shares of common stock as summarized below.
Year of Conversion
 
Cumulative Convertible
Preferred Stock
 
Number of
Preferred Shares
 
Number of
Common Shares
 
 
 
 
(in thousands)
2011
 
5.75%
 
3
 
111
 
 
 
 
 
 
 
2010
 
5% (series 2005)
 
5
 
21
There were no gains or losses associated with the conversions noted above.
Stock-Based Compensation
For the years ended December 31, 2012, 2011 and 2010, we recorded the following stock-based compensation:
 
 
Years Ended December 31,
 
 
2012
 
2011
 
2010
 
 
($ in millions)
Natural gas and oil properties
 
$
71

 
$
112

 
$
120

General and administrative expenses
 
71

 
92

 
84

Natural gas, oil and NGL production expenses
 
24

 
33

 
35

Marketing, gathering and compression expenses
 
15

 
17

 
18

Oilfield services expense
 
10

 
11

 
9

Total
 
$
191

 
$
265

 
$
266

These plans were terminated in prior years and therefore no shares remain available for stock option grants under the plans.
Name of Plan
 
Eligible
Participants
 
Type
of
Options
 
Shares
Covered
 
Shareholder
Approved
 
Outstanding
Options at
December 31, 2012
2002 and 2001
Stock Option Plans
 
Employees
and consultants
 
Incentive and
nonqualified
 
3,000,000/ 3,200,000
 
Yes
 
84,584

 
 
 
 
 
 
 
 
 
 
 
2002 and 2001
Nonqualified
Stock Option Plans
 
Employees
and consultants
 
Nonqualified
 
4,000,000/ 3,000,000
 
No
 
175,466

 
 
 
 
 
 
 
 
 
 
 
2000 and 1999
Employee
Stock Option Plans
 
Employees
and consultants
 
Nonqualified
 
3,000,000(each Plan)
 
No
 
22,163

 
 
 
 
 
 
 
 
 
 
 
1996 and 1994
Stock Option Plans
 
Employees
and consultants
 
Incentive and
nonqualified
 
6,000,000/ 4,886,910
 
Yes
 
16,049
Restricted Stock
A summary of the status of the unvested shares of restricted stock and changes during 2012, 2011 and 2010 is presented below.
 
 
Number of
Unvested
Restricted Shares
 
Weighted Average
Grant-Date
Fair Value
 
 
(in thousands)
 
 
Unvested shares as of January 1, 2012
 
19,544

 
$
26.97

Granted
 
9,480

 
$
21.13

Vested
 
(8,620
)
 
$
28.08

Forfeited
 
(1,505
)
 
$
24.57

Unvested shares as of December 31, 2012
 
18,899

 
$
23.72

 
 
 
 
 
Unvested shares as of January 1, 2011
 
21,375

 
$
28.68

Granted
 
9,541

 
$
28.38

Vested
 
(10,401
)
 
$
31.76

Forfeited
 
(971
)
 
$
27.28

Unvested shares as of December 31, 2011
 
19,544

 
$
26.97

 
 
 
 
 
Unvested shares as of January 1, 2010
 
19,225

 
$
31.89

Granted
 
9,061

 
$
24.19

Vested
 
(5,900
)
 
$
31.99

Forfeited
 
(1,011
)
 
$
30.05

Unvested shares as of December 31, 2010
 
21,375

 
$
28.68

The aggregate intrinsic value of restricted stock vested during 2012 was approximately $174 million based on the stock price at the time of vesting.
As of December 31, 2012, there was $289 million of total unrecognized compensation cost related to unvested restricted stock. The cost is expected to be recognized over a weighted average period of approximately 2.4 years.
The vesting of certain restricted stock grants could result in state and federal income tax benefits related to the difference between the market price of the common stock at the date of vesting and the date of grant. During the years ended December 31, 2012, 2011 and 2010, we recognized reductions in tax benefits related to restricted stock of $32 million, $23 million, and $15 million, respectively, which were recorded as adjustments to additional paid-in capital and deferred income taxes.
Stock Option Activity
The following table provides information related to stock option activity for 2012, 2011 and 2010: 
 
 
Number of
Shares
Underlying  
Options
 
Weighted
Average
Exercise
Price
Per Share
 
Weighted  
Average
Contract
Life in
Years
 
Aggregate  
Intrinsic
Value(a)
 
 
(in thousands)
 
 
 
 
 
($ in millions)
Outstanding at January 1, 2012
 
1,051

 
$
9.84

 
1.41
 
$
13

Exercised
 
(570
)
 
$
7.45

 
 
 
$
7

Outstanding and exercisable at December 31, 2012
 
481

 
$
12.69

 
0.96
 
$
2

 
 
 
 
 
 
 
 
 
Outstanding at January 1, 2011
 
1,808

 
$
8.90

 
2.03
 
$
31

Exercised
 
(757
)
 
$
7.59

 
 
 
$
15

Outstanding and exercisable at December 31, 2011
 
1,051

 
$
9.84

 
1.41
 
$
13

 
 
 
 
 
 
 
 
 
Outstanding at January 1, 2010
 
2,283

 
$
8.36

 
2.75
 
$
40

Exercised
 
(475
)
 
$
6.29

 
 
 
$
8

Outstanding and exercisable at December 31, 2010
 
1,808

 
$
8.90

 
2.03
 
$
31

___________________________________________
(a)
The intrinsic value of a stock option is the amount by which the current market value or the market value upon exercise of the underlying stock exceeds the exercise price of the option.
As of December 31, 2012, there was no remaining unrecognized compensation cost related to stock options.
During each of the years ended December 31, 2012 and 2010, we recognized excess tax benefits related to stock options of $2 million. During the year ended December 31, 2011, we recognized a reduction in tax benefits related to stock options of $3 million. All amounts were recorded as adjustments to additional paid-in capital and deferred income taxes.
The following table summarizes information about stock options outstanding and exercisable at December 31, 2012:
Range of
Exercise Price
 
Number
of Options
 
Weighted-Avg. Remaining Contractual Life
in Years
 
Weighted-Avg. Exercise Price
 
 
 
 
(in thousands)
 
 
 
 
$
7.80

—
$
9.57

 
43

 
0.04
 
$
7.83

10.08

—
10.08

 
195

 
0.47
 
10.08

10.10

—
12.83

 
58

 
0.79
 
11.79

13.35

—
13.35

 
23

 
1.25
 
13.35

13.37

—
13.37

 
23

 
1.01
 
13.37

13.58

—
13.58

 
1

 
1.00
 
13.58

15.06

—
15.06

 
25

 
1.50
 
15.06

15.47

—
15.47

 
38

 
2.01
 
15.47

16.08

—
16.08

 
25

 
1.75
 
16.08

22.49

—
22.49

 
50

 
2.25
 
22.49

$
7.80

—
$
22.49

 
481

 
0.96
 
$
12.69