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Stock-Based Compensation (Tables) | 3 Months Ended
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Mar. 31, 2020
Share-based Payment Arrangement [Abstract] |
Schedule of Employee Service Share-based Compensation, Allocation of Recognized Period Costs | Stock-based compensation expense is included on the Condensed 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,
| 2020 |  | 2019
Lease and Well | $ | 15.1 |  |  | $ | 13.7 |
Gathering and Processing Costs | 0.3 |  |  | 0.2 |
Exploration Costs | 7.2 |  |  | 6.5 |
General and Administrative | 17.5 |  |  | 18.7 |
Total | $ | 40.1 |  |  | $ | 39.1 |
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, 2020 and 2019 are as follows:
| Stock Options/SARs |  | ESPP
| Three Months Ended March 31, |  | Three Months Ended March 31,
| 2020 |  | 2019 |  | 2020 |  | 2019
Weighted Average Fair Value of Grants | $ | 19.67 |  |  | $ | 27.19 |  |  | $ | 20.80 |  |  | $ | 22.98 |
Expected Volatility | 33.43 | % |  | 31.81 | % |  | 35.24 | % |  | 36.31 | %
Risk-Free Interest Rate | 1.43 | % |  | 2.51 | % |  | 1.56 | % |  | 2.48 | %
Dividend Yield | 1.60 | % |  | 0.88 | % |  | 1.56 | % |  | 0.83 | %
Expected Life | 5.0 years |  |  | 5.0 years |  |  | 0.5 years |  |  | 0.5 years |
Stock Options and SARs Transactions | The following table sets forth stock option and SAR transactions for the three-month periods ended March 31, 2020 and 2019 (stock options and SARs in thousands):
| Three Months Ended March 31, 2020 |  | Three Months Ended March 31, 2019
| Number of Stock Options/SARs |  | Weighted Average Grant Price |  | Number of Stock Options/SARs |  | Weighted Average Grant Price
Outstanding at January 1 | 9,395 |  |  | $ | 94.53 |  |  | 8,310 |  |  | $ | 96.90 |
Granted | 9 |  |  | 75.44 |  |  | 17 |  |  | 96.67 |
Exercised (1) | (23 | ) |  | 69.59 |  |  | (43 | ) |  | 69.94 |
Forfeited | (47 | ) |  | 96.81 |  |  | (48 | ) |  | 105.43 |
Outstanding at March 31 (2) | 9,334 |  |  | $ | 94.56 |  |  | 8,236 |  |  | $ | 96.99 |
Vested or Expected to Vest (3) | 8,998 |  |  | $ | 94.55 |  |  | 7,892 |  |  | $ | 96.53 |
Exercisable at March 31 (4) | 5,249 |  |  | $ | 94.33 |  |  | 3,997 |  |  | $ | 86.25 |
(1) | The total intrinsic value of stock options/SARs exercised during the three months ended March 31, 2020 and 2019 was $0.4 million and $1.1 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, 2020 and 2019 was zero and $51.8 million, respectively. At March 31, 2020 and 2019, the weighted average remaining contractual life was 4.0 years and 4.2 years, respectively.
(3) | The total intrinsic value of stock options/SARs vested or expected to vest at March 31, 2020 and 2019 was zero and $51.1 million, respectively. At March 31, 2020 and 2019, the weighted average remaining contractual life was 4.0 years and 4.1 years, respectively.
(4) The total intrinsic value of stock options/SARs exercisable at March 31, 2020 and 2019 was zero and $43.1 million, respectively. At March 31, 2020 and 2019, the weighted average remaining contractual life was 2.8 years and 2.7 years, respectively.
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, 2020 and 2019 (shares and units in thousands):
| Three Months Ended March 31, 2020 |  | Three Months Ended March 31, 2019
| 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 | 4,546 |  |  | $ | 90.16 |  |  | 3,792 |  |  | $ | 96.64 |
Granted | 26 |  |  | 63.48 |  |  | 371 |  |  | 96.72 |
Released (1) | (259 | ) |  | 88.19 |  |  | (247 | ) |  | 93.37 |
Forfeited | (11 | ) |  | 89.86 |  |  | (26 | ) |  | 98.11 |
Outstanding at March 31 (2) | 4,302 |  |  | $ | 90.12 |  |  | 3,890 |  |  | $ | 96.85 |
(1) | The total intrinsic value of restricted stock and restricted stock units released during the three months ended March 31, 2020 and 2019 was $11.0 million and $22.0 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, 2020 and 2019 was $154.5 million and $370.2 million, respectively.
Weighted Average Fair Values and Valuation Assumptions for Performance Award Grants | The following table sets forth the performance unit transactions for the three-month periods ended March 31, 2020 and 2019 (units in thousands):
| Three Months Ended March 31, 2020 |  | Three Months Ended March 31, 2019
| Number of Units |  | Weighted Average Price per Grant Date |  | Number of Units |  | Weighted Average Price per Grant Date
Outstanding at January 1 | 598 |  |  | $ | 92.19 |  |  | 539 |  |  | $ | 101.53 |
Granted | — |  |  | — |  |  | — |  |  | — |
Granted for Performance Multiple (1) | 66 |  |  | 100.95 |  |  | 72 |  |  | 69.43 |
Released (2) | (121 | ) |  | 104.69 |  |  | — |  |  | — |
Forfeited | — |  |  | — |  |  | — |  |  | — |
Outstanding at March 31 (3) | 543 |  | (4) | $ | 90.48 |  |  | 611 |  |  | $ | 97.75 |
(1) | Upon completion of the Performance Period for the performance units granted in 2016 and 2015, a performance multiple of 150% and 200%, respectively, was applied to each of the grants resulting in additional grants of performance units in February 2020 and February 2019, respectively.
(2) | The total intrinsic value of performance units released during the three months ended March 31, 2020 was $9.0 million. The intrinsic value is based upon the closing price of EOG's common stock on the date the performance units are released. There were no performance units released during the three months ended March 31, 2019.
(3) | The total intrinsic value of performance units outstanding at March 31, 2020 and 2019 was approximately $19.5 million and $58.1 million, respectively.
(4) | Upon the application of the relevant performance multiple at the completion of each of the remaining Performance Periods, a minimum of 179 and a maximum of 907 performance units could be outstanding.

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