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Share-Based Compensation (Tables) | 9 Months Ended
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Sep. 30, 2019
Share-based Payment Arrangement [Abstract] |
Schedule of Share-Based Compensation and Related Income Tax Benefit | Total pre-tax expense and income tax benefits associated with share-based compensation are shown in the table below. Income tax benefits include impacts from option exercises and the vesting of other equity awards.
| Third Quarters |  | Nine Months
(Dollars in millions) | 2019 | 2018 |  | 2019 | 2018
Share-Based Compensation Expense: |  |  |  |  |
Performance Units | $ | 8 |  | $ | 8 |  |  | $ | 23 |  | $ | 22 |
Stock Options | 2 |  | 4 |  |  | 9 |  | 10 |
Restricted Stock Units and Awards | 2 |  | 1 |  |  | 6 |  | 4 |
Stock Awards for Directors | — |  | — |  |  | 2 |  | 2 |
Employee Stock Purchase Plan | 1 |  | — |  |  | 3 |  | — |
Total Share-Based Compensation Expense | $ | 13 |  | $ | 13 |  |  | $ | 43 |  | $ | 38 |
Income Tax Benefit | $ | 6 |  | $ | 6 |  |  | $ | 41 |  | $ | 23 |
Schedule of Weighted Average Assumptions | The fair values of the performance units awarded during the third quarters and nine months 2019 and 2018 were calculated using a Monte-Carlo simulation model with the following weighted-average assumptions:
| Third Quarters |  | Nine Months
| 2019(a) | 2018 |  | 2019 | 2018
Weighted-average assumptions used: |  |  |  |  |
Annual dividend yield | N/A | 1.2 | % |  | 1.4 | % | 1.6 | %
Risk-free interest rate | N/A | 2.7 | % |  | 2.5 | % | 2.3 | %
Annualized volatility | N/A | 27.9 | % |  | 27.6 | % | 29.1 | %
Expected life (in years) | N/A | 2.3 |  |  | 2.9 |  | 2.9 |
(a) No performance units were awarded in third quarter 2019.
Schedule of Fair Value Assumptions for Stock Option Awards | The fair values of all stock option awards during the quarters and nine months ended September 30, 2019 and September 30, 2018 were estimated at the grant date with the following weighted average assumptions:
| Third Quarters |  | Nine Months
| 2019 | 2018 |  | 2019 | 2018
Weighted-average grant-date fair value | $ | 15.44 |  | $ | 20.52 |  |  | $ | 17.99 |  | $ | 14.65 |
Stock options valuation assumptions: |  |  |  |  |
Annual dividend yield | 1.4 | % | 1.2 | % |  | 1.3 | % | 1.5 | %
Risk-free interest rate | 1.4 | % | 2.8 | % |  | 2.5 | % | 2.6 | %
Annualized volatility | 25.7 | % | 25.5 | % |  | 25.7 | % | 27.0 | %
Expected life (in years) | 6.5 |  | 6.5 |  |  | 6.1 |  | 6.5 |
Other pricing model inputs: |  |  |  |  |
Weighted-average grant-date market price of CSX stock (strike price) | $ | 66.35 |  | $ | 74.84 |  |  | $ | 69.96 |  | $ | 54.19 |

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- Definition Tabular disclosure of allocation of amount expensed and capitalized for award under share-based payment arrangement to statement of income or comprehensive income and statement of financial position. Includes, but is not limited to, corresponding line item in financial statement. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (h)(1) -URI http://asc.fasb.org/extlink&oid=116856206&loc=d3e5070-113901 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SAB Topic 14.F) -URI http://asc.fasb.org/extlink&oid=115993241&loc=d3e301413-122809 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=116856206&loc=d3e5047-113901 + Details
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- Definition Tabular disclosure of the significant assumptions used during the year to estimate the fair value of stock options, including, but not limited to: (a) expected term of share options and similar instruments, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (f)(2) -URI http://asc.fasb.org/extlink&oid=116856206&loc=d3e5070-113901 + Details
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