v3.6.0.2

Employee Benefit Plans (Tables) | 12 Months Ended
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Dec. 31, 2016
Employee Benefit Plans [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 functions of the employees receiving the grants. Compensation expense related to EOG's stock-based compensation plans for the years ended December 31, 2016, 2015 and 2014 was as follows (in millions):
| 2016 |  | 2015 |  | 2014
Lease and Well | $ | 38 |  |  | $ | 44 |  |  | $ | 41 |
Gathering and Processing Costs | 1 |  |  | 1 |  |  | 1 |
Exploration Costs | 21 |  |  | 26 |  |  | 27 |
General and Administrative | 68 |  |  | 60 |  |  | 76 |
Total | $ | 128 |  |  | $ | 131 |  |  | $ | 145 |
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, 2016, 2015 and 2014 were as follows:
| Stock Options/SARs |  | ESPP
| 2016 |  | 2015 |  | 2014 |  | 2016 |  | 2015 |  | 2014
Weighted Average Fair Value of Grants | $ | 25.78 |  |  | $ | 21.88 |  |  | $ | 30.75 |  |  | $ | 19.21 |  |  | $ | 21.21 |  |  | $ | 21.65 |
Expected Volatility | 31.54 | % |  | 38.03 | % |  | 35.28 | % |  | 36.55 | % |  | 32.08 | % |  | 25.03 | %
Risk-Free Interest Rate | 0.78 | % |  | 0.83 | % |  | 0.95 | % |  | 0.44 | % |  | 0.12 | % |  | 0.08 | %
Dividend Yield | 0.76 | % |  | 0.85 | % |  | 0.61 | % |  | 0.82 | % |  | 0.73 | % |  | 0.46 | %
Expected Life | 5.4 years |  |  | 5.3 years |  |  | 5.2 years |  |  | 0.5 years |  |  | 0.5 years |  |  | 0.5 years |
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, 2016, 2015 and 2014 (stock options and SARs in thousands):
| 2016 |  | 2015 |  | 2014
| Number of Stock Options/ SARs |  | Weighted Average Grant Price |  | 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 |  |  | 10,452 |  |  | $ | 54.43 |
Granted | 1,855 |  |  | 94.82 |  |  | 2,037 |  |  | 69.99 |  |  | 2,146 |  |  | 101.55 |
Exercised (1) | (2,376 | ) |  | 54.56 |  |  | (1,518 | ) |  | 47.64 |  |  | (1,718 | ) |  | 45.68 |
Forfeited | (373 | ) |  | 87.38 |  |  | (268 | ) |  | 80.31 |  |  | (387 | ) |  | 68.95 |
Outstanding at December 31 | 9,850 |  |  | 75.53 |  |  | 10,744 |  |  | 67.98 |  |  | 10,493 |  |  | 64.96 |
Stock Options/SARs Exercisable at December 31 | 5,613 |  |  | 66.48 |  |  | 5,993 |  |  | 57.96 |  |  | 5,287 |  |  | 49.40 |
(1) | The total intrinsic value of stock options/SARs exercised during the years 2016, 2015 and 2014 was $84 million, $60 million and $95 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.
Stock Options and SARs Outstanding and Exercisable | The following table summarizes certain information for the stock options and SARs outstanding and exercisable at December 31, 2016 (stock options and SARs in thousands):
Stock Options/SARs Outstanding |  | Stock Options/SARs Exercisable
Range of Grant Prices |  | Stock Options/ SARs |  | Weighted Average Remaining Life (Years) |  | Weighted Average Grant Price |  | Aggregate Intrinsic Value(1) |  | Stock Options/ SARs |  | Weighted Average Remaining Life (Years) |  | Weighted Average Grant Price |  | Aggregate Intrinsic Value (1)
$ 34.00 to $ 55.99 |  | 1,906 |  |  | 1 |  | $ | 43.68 |  |  |  |  | 1,906 |  |  | 1 |  | $ | 43.68 |  |  |
56.00 to 69.99 |  | 2,922 |  |  | 4 |  | 64.12 |  |  |  |  | 1,654 |  |  | 3 |  | 60.09 |  |  |
70.00 to 94.99 |  | 1,526 |  |  | 3 |  | 84.62 |  |  |  |  | 1,072 |  |  | 3 |  | 84.49 |  |  |
95.00 to 99.99 |  | 1,794 |  |  | 7 |  | 95.10 |  |  |  |  | 23 |  |  | 3 |  | 97.31 |  |  |
100.00 to 116.99 |  | 1,702 |  |  | 4 |  | 102.02 |  |  |  |  | 958 |  |  | 4 |  | 102.00 |  |  |
|  | 9,850 |  |  | 4 |  | 75.53 |  |  | $ | 253,400 |  |  | 5,613 |  |  | 3 |  | 66.48 |  |  | $ | 195,186 |
(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.
ESPP Activity | At December 31, 2016, approximately 356,000 shares of Common Stock remained available for issuance under the ESPP. The following table summarizes ESPP activities for the years ended December 31, 2016, 2015 and 2014 (in thousands, except number of participants):
| 2016 |  | 2015 |  | 2014
Approximate Number of Participants | 1,746 |  |  | 1,963 |  |  | 1,991 |
Shares Purchased | 212 |  |  | 225 |  |  | 202 |
Aggregate Purchase Price | $ | 13,787 |  |  | $ | 15,045 |  |  | $ | 14,927 |
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, 2016, 2015 and 2014 (shares and units in thousands):
| 2016 |  | 2015 |  | 2014
| Number of Shares and Units |  | Weighted Average Grant Date Fair Value |  | 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 |  |  | 7,358 |  |  | $ | 49.54 |
Granted | 853 |  |  | 88.01 |  |  | 1,044 |  |  | 77.94 |  |  | 1,132 |  |  | 98.72 |
Released (1) | (1,465 | ) |  | 53.95 |  |  | (1,331 | ) |  | 51.52 |  |  | (2,761 | ) |  | 105.24 |
Forfeited | (334 | ) |  | 77.29 |  |  | (199 | ) |  | 74.56 |  |  | (335 | ) |  | 62.55 |
Outstanding at December 31 (2) | 3,962 |  |  | 79.63 |  |  | 4,908 |  |  | 70.35 |  |  | 5,394 |  |  | 64.39 |
(1) | The total intrinsic value of restricted stock and restricted stock units released during the years ended December 31, 2016, 2015 and 2014 was $124 million, $109 million and $291 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 December 31, 2016 and 2015 was approximately $401 million and $347 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 years ended December 31, 2016, 2015 and 2014 were as follows:
| 2016 |  | 2015 |  | 2014
Weighted Average Fair Value of Grants | $ | 119.10 |  |  | $ | 80.64 |  |  | $ | 119.27 |
Expected Volatility | 32.48 | % |  | 29.35 | % |  | 32.18 | %
Risk-Free Interest Rate | 1.15 | % |  | 1.07 | % |  | 1.18 | %

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- Definition Tabular disclosure of components of a stock option or other award plan under which equity-based compensation is awarded to employees, typically comprised of the amount of unearned compensation (deferred compensation cost), compensation expense, and changes in the quantity and fair value of the shares (or other type of equity) granted, exercised, forfeited, and issued and outstanding pertaining to that plan. Disclosure may also include nature and general terms of such arrangements that existed during the period and potential effects of those arrangements on shareholders, effect of compensation cost arising from equity-based payment arrangements on the income statement, method of estimating the fair value of the goods or services received, or the fair value of the equity instruments granted, during the period, cash flow effects resulting from equity-based payment arrangements and, for registrants that accelerate vesting of out of the money share options, reasons for the decision to accelerate. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6415400&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://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (f)(2) -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901 + Details
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