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Employee Benefit Plans (Tables)
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12 Months Ended |
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Dec. 31, 2012
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| Notes To Financial Statements [Abstract] |
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| 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 job functions of the employees receiving the grants. Compensation expense related to EOG's stock-based compensation plans for the years ended December 31, 2012, 2011 and 2010 was as follows (in millions):
| | 2012 | | 2011 | | 2010 | | | | | | | | Lease and Well | $ | 35 | $ | 33 | $ | 27 | Gathering and Processing Costs | | 1 | | 1 | | 1 | Exploration Costs | | 27 | | 26 | | 24 | General and Administrative | | 65 | | 68 | | 55 | Total | $ | 128 | $ | 128 | $ | 107 |
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| Weighted Average Fair Values and Valuation Assumptions |
Weighted average fair values and valuation assumptions used to value stock option, SAR and ESPP grants for the years ended December 31, 2012, 2011 and 2010 were as follows:
| Stock Options/SARs | | ESPP | | 2012 | | 2011 | | 2010 | | 2012 | | 2011 | | 2010 | | | | | | | | | | | | | Weighted Average Fair Value of Grants | $37.95 | | $29.92 | | $32.12 | | $25.11 | | $22.75 | | $25.45 | Expected Volatility | 39.68% | | 40.96% | | 39.70% | | 40.92% | | 29.82% | | 38.30% | Risk-Free Interest Rate | 0.45% | | 0.58% | | 0.87% | | 0.11% | | 0.14% | | 0.18% | Dividend Yield | 0.60% | | 0.70% | | 0.70% | | 0.60% | | 0.70% | | 0.70% | Expected Life | 5.6 yrs | | 5.6 yrs | | 5.5 yrs | | 0.5 yrs | | 0.5 yrs | | 0.5 yrs |
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| Schedule of Share Based Compensation Arrangement By Share Based Payment Award |
The following table sets forth the stock option and SAR transactions for the years ended December 31, 2012, 2011 and 2010 (stock options and SARs in thousands):
| 2012 | | 2011 | | 2010 | | Number | Weighted | | Number | Weighted | | Number | Weighted | | of Stock | Average | | of Stock | Average | | Of Stock | Average | | Options/ | Grant | | Options/ | Grant | | Options/ | Grant | | SARs | Price | | SARs | Price | | SARs | Price | | | | | | | | | | Outstanding at January 1 | 8,374 | $ 70.01 | | 8,445 | $64.49 | | 8,335 | $57.08 | Granted | 1,240 | 111.97 | | 1,509 | 85.29 | | 1,450 | 93.07 | Exercised (1) | (3,246) | 54.80 | | (1,399) | 50.86 | | (1,144) | 43.38 | Forfeited | (149) | 91.18 | | (181) | 87.74 | | (196) | 84.22 | Outstanding at December 31 | 6,219 | 85.81 | | 8,374 | 70.01 | | 8,445 | 64.49 | | | | | | | | | | Stock Options/SARs Exercisable at December 31 | 3,143 | 74.98 | | 5,148 | 59.19 | | 5,439 | 51.71 |
| (1) | The total intrinsic value of stock options/SARs exercised during the years 2012, 2011 and 2010 was $185 million, $78 million and $66 million, respectively. The intrinsic value is based upon the difference between the market price of the Common Stock on the date of exercise and the grant price of the stock options/SARs. |
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| Stock Options and SARs Outstanding and Exercisable |
The following table summarizes certain information for the stock options and SARs outstanding at December 31, 2012 (stock options and SARs in thousands):
Stock Options/SARs Outstanding | | Stock Options/SARs Exercisable | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| (1) | Based upon the difference between the closing market price of the Common Stock on the last trading day of the year and the grant price of in-the-money stock options and SARs. |
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| ESPP Activity |
At December 31, 2012, approximately 625,000 shares of Common Stock remained available for issuance under the ESPP. The following table summarizes ESPP activities for the years ended December 31, 2012, 2011 and 2010 (in thousands, except number of participants):
| | 2012 | | 2011 | | 2010 | | | | | | | | Approximate Number of Participants | | 1,705 | | 1,525 | | 1,236 | Shares Purchased | | 164 | | 135 | | 114 | Aggregate Purchase Price | $ | 12,522 | $ | 10,947 | $ | 9,172 |
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| Restricted Stock and Restricted Stock Unit Transactions |
The following table sets forth the restricted stock and restricted stock unit transactions for the years ended December 31, 2012, 2011 and 2010 (shares and units in thousands):
| 2012 | | 2011 | | 2010 | | | Weighted | | | Weighted | | | Weighted | | Number of | Average | | Number of | Average | | Number of | Average | | Shares and | Grant Date | | Shares and | Grant Date | | Shares and | Grant Date | | Units | Fair Value | | Units | Fair Value | | Units | Fair Value | | | | | | | | | | Outstanding at January 1 | 4,240 | $82.93 | | 4,009 | $79.13 | | 3,636 | $73.69 | Granted | 767 | 112.17 | | 932 | 90.87 | | 850 | 93.39 | Released (1) | (1,059) | 72.70 | | (457) | 66.10 | | (364) | 58.00 | Forfeited | (130) | 85.36 | | (244) | 82.45 | | (113) | 79.37 | Outstanding at December 31 (2) | 3,818 | 91.06 | | 4,240 | 82.93 | | 4,009 | 79.13 |
| (1) | The total intrinsic value of restricted stock and restricted stock units released during the years ended December 31, 2012, 2011 and 2010 was $120 million, $44 million and $35 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 aggregate intrinsic value of restricted stock and restricted stock units outstanding at December 31, 2012 and 2011 was approximately $461 million and $418 million, respectively. |
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