Stock-Based Compensation (Tables)
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3 Months Ended |
Mar. 31, 2016 |
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| Disclosure of Compensation Related Costs, Share-based Payments [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 the job function of the employees receiving the grants as follows (in millions): | | | | | | | | | | Three Months Ended
March 31, | | 2016 | | 2015 | Lease and Well | $ | 10.4 |
| | $ | 12.1 |
| Gathering and Processing Costs | 0.3 |
| | 0.3 |
| Exploration Costs | 6.5 |
| | 7.4 |
| General and Administrative | 15.2 |
| | 13.3 |
| Total | $ | 32.4 |
| | $ | 33.1 |
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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 during the three-month periods ended March 31, 2016 and 2015 are as follows: | | | | | | | | | | | | | | | | | | Stock Options/SARs | | ESPP | | Three Months Ended
March 31, | | Three Months Ended
March 31, | | 2016 | | 2015 | | 2016 | | 2015 | Weighted Average Fair Value of Grants | $ | 20.87 |
| | $ | 30.35 |
| | $ | 17.56 |
| | $ | 23.39 |
| Expected Volatility | 36.45 | % | | 40.01 | % | | 36.79 | % | | 37.47 | % | Risk-Free Interest Rate | 1.03 | % | | 0.82 | % | | 0.49 | % | | 0.11 | % | Dividend Yield | 0.86 | % | | 0.73 | % | | 0.82 | % | | 0.72 | % | Expected Life | 5.3 years |
| | 5.3 years |
| | 0.5 years |
| | 0.5 years |
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| Stock Options and SARs Transactions |
The following table sets forth stock option and SAR transactions for the three-month periods ended March 31, 2016 and 2015 (stock options and SARs in thousands): | | | | | | | | | | | | | | | | Three Months Ended
March 31, 2016 | | Three Months Ended
March 31, 2015 | | Number of Stock Options/SARs | | Weighted Average Grant Price | | Number of Stock Options/SARs | | Weighted Average Grant Price | Outstanding at January 1 | 10,744 |
| | $ | 67.98 |
| | 10,493 |
| | $ | 64.96 |
| Granted | 5 |
| | 69.03 |
| | 30 |
| | 91.85 |
| Exercised (1) | (258 | ) | | 43.44 |
| | (459 | ) | | 47.25 |
| Forfeited | (60 | ) | | 85.65 |
| | (96 | ) | | 77.96 |
| Outstanding at March 31 (2) | 10,431 |
| | $ | 68.48 |
| | 9,968 |
| | $ | 65.73 |
| Vested or Expected to Vest (3) | 10,060 |
| | $ | 68.04 |
| | 9,586 |
| | $ | 65.09 |
| Exercisable at March 31 (4) | 5,770 |
| | $ | 58.68 |
| | 4,882 |
| | $ | 49.85 |
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| | (1) | The total intrinsic value of stock options/SARs exercised for the three months ended March 31, 2016 and 2015 was $7.3 million and $20.1 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 March 31, 2016 and 2015 was $122.1 million and $279.5 million, respectively. At March 31, 2016 and 2015, the weighted average remaining contractual life was 3.9 years and 4.2 years, respectively. |
| | (3) | The total intrinsic value of stock options/SARs vested or expected to vest at March 31, 2016 and 2015 was $121.1 million and $274.1 million, respectively. At March 31, 2016 and 2015, the weighted average remaining contractual life was 3.9 years and 4.1 years, respectively. |
| | (4) | The total intrinsic value of stock options/SARs exercisable at March 31, 2016 and 2015 was $108.7 million and $204.5 million, respectively. At March 31, 2016 and 2015, the weighted average remaining contractual life was 2.7 years and 2.8 years, respectively. |
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| Restricted Stock and Restricted Stock Unit Transactions |
The following table sets forth restricted stock and restricted stock unit transactions for the three-month periods ended March 31, 2016 and 2015 (shares and units in thousands): | | | | | | | | | | | | | | | | Three Months Ended
March 31, 2016 | | Three Months Ended
March 31, 2015 | | 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 | 4,908 |
| | $ | 70.35 |
| | 5,394 |
| | $ | 64.39 |
| Granted | 284 |
| | 75.26 |
| | 438 |
| | 87.93 |
| Released (1) | (353 | ) | | 53.88 |
| | (365 | ) | | 51.22 |
| Forfeited | (39 | ) | | 75.35 |
| | (44 | ) | | 76.19 |
| Outstanding at March 31 (2) | 4,800 |
| | $ | 71.81 |
| | 5,423 |
| | $ | 67.08 |
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| | (1) | The total intrinsic value of restricted stock and restricted stock units released for the three months ended March 31, 2016 and 2015 was $24.7 million and $32.8 million, respectively. The intrinsic value is based upon the closing price of EOG's common stock on the date the restricted stock and restricted stock units are released. |
| | (2) | The total intrinsic value of restricted stock and restricted stock units outstanding at March 31, 2016 and 2015 was $348.4 million and $497.3 million, respectively. |
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