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Share-Based Compensation (Tables) | 3 Months Ended
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Mar. 31, 2017
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] |
Schedule of Share-Based Compensation, Restricted Stock and Restricted Stock Units Activity | A summary of the changes in unvested restricted stock during the Current Quarter is presented below.
|  | Shares of Unvested Restricted Stock |  | Weighted Average Grant Date Fair Value
|  | (in thousands) |  |
Unvested restricted stock as of January 1, 2017 |  | 9,092 |  |  | $ | 11.39 |
Granted |  | 9,034 |  |  | $ | 5.45 |
Vested |  | (3,226 | ) |  | $ | 14.39 |
Forfeited |  | (101 | ) |  | $ | 10.43 |
Unvested restricted stock as of March 31, 2017 |  | 14,799 |  |  | $ | 7.12 |
Equity-Classified Share-Based Payment Award Valuation Assumptions | The Company used the following weighted average assumptions to estimate the grant date fair value of the stock options granted in the Current Quarter.
Expected option life – years |  | 6.0 |
Volatility |  | 62.42 | %
Risk-free interest rate |  | 2.17 | %
Dividend yield |  | — | %
The Company utilized a Monte Carlo simulation for the TSR performance measure and the following assumptions to determine the grant date fair value of the PSUs. The payout percentage for all PSU grants is capped at 100% if the Company's absolute TSR is less than zero.
Volatility |  | 80.65 | %
Risk-free interest rate |  | 1.54 | %
Dividend yield for value of awards |  | — | %
Schedule of Share-Based Compensation, Stock Options, Activity | The following table provides information related to stock option activity in the Current Quarter.
|  | Number of Shares Underlying Options |  | Weighted Average Exercise Price Per Share |  | Weighted Average Contract Life in Years |  | Aggregate Intrinsic Value(a)
|  | (in thousands) |  |  |  |  |  | ($ in millions)
Outstanding as of January 1, 2017 |  | 8,593 |  |  | $ | 11.88 |  |  | 7.22 |  | $ | 14 |
Granted |  | 9,192 |  |  | $ | 5.45 |  |  |  |  |
Exercised |  | — |  |  | $ | — |  |  |  |  | $ | — |
Expired |  | (276 | ) |  | $ | 18.74 |  |  |  |  |
Forfeited |  | (66 | ) |  | $ | 5.45 |  |  |  |  |
Outstanding as of March 31, 2017 |  | 17,443 |  |  | $ | 8.41 |  |  | 8.65 |  | $ | 14 |
Exercisable as of March 31, 2017 |  | 4,526 |  |  | $ | 15.69 |  |  | 6.50 |  | $ | 3 |
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(a) | The intrinsic value of a stock option is the amount by which the current market value or the market value upon exercise of the underlying stock exceeds the exercise price of the option.
Equity-Classified Stock-Based Compensation | We recognized the following compensation costs (credits) related to PSUs for the Current Quarter and the Prior Quarter.
|  | Three Months Ended March 31,
|  | 2017 |  | 2016
|  | ($ in millions)
General and administrative expenses |  | $ | (2 | ) |  | $ | 2 |
Restructuring and other termination costs |  | — |  |  | 1 |
Total PSU compensation |  | $ | (2 | ) |  | $ | 3 |
We recognized the following compensation costs related to restricted stock and stock options for the Current Quarter and the Prior Quarter.
|  | Three Months Ended March 31,
|  | 2017 |  | 2016
|  | ($ in millions)
General and administrative expenses |  | $ | 8 |  |  | $ | 8 |
Oil and natural gas properties |  | 4 |  |  | 4 |
Oil, natural gas and NGL production expenses |  | 3 |  |  | 3 |
Marketing, gathering and compression expenses |  | — |  |  | 1 |
Total restricted stock and stock option compensation |  | $ | 15 |  |  | $ | 16 |
Liability-Classified Share-Based Payment Award Valuation Assumptions | The Company used the following weighted average assumptions to estimate the grant date fair value of the stock options granted in the Current Quarter.
Expected option life – years |  | 6.0 |
Volatility |  | 62.42 | %
Risk-free interest rate |  | 2.17 | %
Dividend yield |  | — | %
The Company utilized a Monte Carlo simulation for the TSR performance measure and the following assumptions to determine the grant date fair value of the PSUs. The payout percentage for all PSU grants is capped at 100% if the Company's absolute TSR is less than zero.
Volatility |  | 80.65 | %
Risk-free interest rate |  | 1.54 | %
Dividend yield for value of awards |  | — | %
Schedule of Nonvested Performance-based Units Activity | The following table presents a summary of our 2017, 2016 and 2015 PSU awards.
|  |  |  | Grant Date Fair Value |  | March 31, 2017
|  | Units |  |  | Fair Value |  | Vested Liability
|  |  |  | ($ in millions) |  |  |  |
2017 Awards: |  |  |  |  |  |  |  |
Payable 2020 |  | 1,256,295 |  |  | $ | 8 |  |  | $ | 8 |  |  | $ | 1 |
2016 Awards: |  |  |  |  |  |  |  |
Payable 2019 |  | 2,348,893 |  |  | $ | 10 |  |  | $ | 17 |  |  | $ | 11 |
2015 Awards: |  |  |  |  |  |  |  |
Payable 2018 |  | 629,694 |  |  | $ | 13 |  |  | $ | 2 |  |  | $ | 2 |
Liability-Classified Stock-Based Compensation | We recognized the following compensation costs (credits) related to PSUs for the Current Quarter and the Prior Quarter.
|  | Three Months Ended March 31,
|  | 2017 |  | 2016
|  | ($ in millions)
General and administrative expenses |  | $ | (2 | ) |  | $ | 2 |
Restructuring and other termination costs |  | — |  |  | 1 |
Total PSU compensation |  | $ | (2 | ) |  | $ | 3 |
We recognized the following compensation costs related to restricted stock and stock options for the Current Quarter and the Prior Quarter.
|  | Three Months Ended March 31,
|  | 2017 |  | 2016
|  | ($ in millions)
General and administrative expenses |  | $ | 8 |  |  | $ | 8 |
Oil and natural gas properties |  | 4 |  |  | 4 |
Oil, natural gas and NGL production expenses |  | 3 |  |  | 3 |
Marketing, gathering and compression expenses |  | — |  |  | 1 |
Total restricted stock and stock option compensation |  | $ | 15 |  |  | $ | 16 |

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- Definition Tabular disclosure of the allocation of equity-based compensation costs to a given line item on the balance sheet and income statement for the period. This may include the reporting line for the costs and the amount capitalized and expensed. + 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 (h)(1) -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 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5047-113901 Reference 3: http://www.xbrl.org/2003/role/presentationRef -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=27013229&loc=d3e301413-122809 + Details
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- Definition Tabular disclosure of the changes in outstanding nonvested performance-based units. + 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 (c)(2) -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901 + Details
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- Definition Tabular disclosure of the number and weighted-average exercise prices (or conversion ratios) for share options (or share units) that were outstanding at the beginning and end of the year, vested and expected to vest, exercisable or convertible at the end of the year, and the number of share options or share units that were granted, exercised or converted, forfeited, and expired during the year. + 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 (c)(1) -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901 + 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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- Definition Disclosure of the number and weighted-average grant date fair value for restricted stock and restricted stock units that were outstanding at the beginning and end of the year, and the number of restricted stock and restricted stock units that were granted, vested, or forfeited during the year. + References No definition available. + Details
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