XML 70 R63.htm IDEA: XBRL DOCUMENT
v3.6.0.2

Stock-based Compensation Plans (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] |
Schedule of Stock Option Information | The following options were granted in 2016 and 2015. The fair values of the options were estimated at the date of grant using the Black-Scholes fair value option-pricing model and the following assumptions:
| 2016 |  | 2015 |
Options granted (#) | 788,188 |  | 667,244 |
Exercise price ($) (1) | 37.30 |  | 39.25 |
Grant date fair value ($) | 2.41 |  | 2.46 |
Assumptions: |  |
Dividend yield (%) (2) | 3.9 |  | 3.6 |
Expected volatility (%) (3) | 16.4 |  | 14.6 |
Risk-free interest rate (%) (4) | 0.7 |  | 0.9 |
Weighted average expected life (years) (5) | 5.5 |  | 5.5 |
(1) | Five-day VWAP immediately preceding the date of grant
(2) | Based on average annual dividend yield up to the date of grant and the weighted average expected life of the options
(3) | Based on historical experience over a period equal to the weighted average expected life of the options
(4) | Government of Canada benchmark bond yield in effect at the date of grant that covers the weighted average expected life of the options
(5) | Based on historical experience
Summary of Stock Option Activity | The following table summarizes information related to stock options for 2016.
| Total Options |  | Non-vested Options (1)
| Number of Options |  |  | Weighted Average Exercise Price |  |  | Number of Options |  |  | Weighted Average Grant Date Fair Value |
Options outstanding, January 1, 2016 | 4,416,454 |  |  | $ | 32.12 |  |  | 1,936,532 |  |  | $ | 3.30 |
Granted | 788,188 |  |  | $ | 37.30 |  |  | 788,188 |  |  | $ | 2.41 |
Exercised | (1,041,450 | ) |  | $ | 26.74 |  |  | n/a |  |  | n/a |
Vested | n/a |  |  | n/a |  |  | (906,702 | ) |  | $ | 3.57 |
Cancelled/Forfeited | (3,000 | ) |  | $ | 31.68 |  |  | (3,000 | ) |  | $ | 3.66 |
Options outstanding, December 31, 2016 | 4,160,192 |  |  | $ | 34.45 |  |  | 1,815,018 |  |  | $ | 2.78 |
Options vested, December 31, 2016 (2) | 2,345,174 |  |  | $ | 33.14 |  |  |  |  |
(1) | As at December 31, 2016, there was $5 million of unrecognized compensation expense related to stock options not yet vested, which is expected to be recognized over a weighted average period of approximately three years.
(2) | As at December 31, 2016, the weighted average remaining term of vested options was six years with an aggregate intrinsic value of $20 million.
Schedule of Additional Stock Option Information | The following table summarizes additional 2016 and 2015 stock option information.
(in millions) | 2016 |  | 2015 |
Stock option expense recognized | $ | 2 |  | $ | 3 |
Stock options exercised: |  |  |  |
Cash received for exercise price | 28 |  | 24 |
Intrinsic value realized by employees | 15 |  | 10 |
Fair value of options that vested | 3 |  | 3 |
DSU Plan Activity |
Number of DSUs | 2016 |  | 2015 |
DSUs outstanding, beginning of year | 167,762 |  | 176,124 |
Granted | 30,165 |  | 28,737 |
Granted - notional dividends reinvested | 6,994 |  | 7,037 |
DSUs paid out | (5,510 | ) | (44,136 | )
DSUs outstanding, end of year | 199,411 |  | 167,762 |
PSU Plans Activity | The following table summarizes information related to the PSUs for 2016 and 2015.
Number of PSUs | 2016 |  | 2015 |
PSUs outstanding, beginning of year | 694,386 |  | 481,700 |
Granted | 351,737 |  | 276,381 |
Granted - notional dividends reinvested | 34,439 |  | 25,687 |
PSUs paid out (1) | (148,168 | ) | (83,637 | )
PSUs cancelled/ forfeited | (443 | ) | (5,745 | )
PSUs outstanding, end of year | 931,951 |  | 694,386 |
(1) | Includes 2,432 PSUs paid to senior management on retirement in accordance with the PSU plan
RSU Plans Activity |
Number of RSUs | 2016 |  | 2015 |
RSUs outstanding, beginning of year | 58,740 |  | — |
Granted | 70,393 |  | 59,462 |
Granted - notional dividends reinvested | 4,709 |  | 2,150 |
RSUs paid out (1) | (10,201 | ) | — |
RSUs cancelled/ forfeited | (29 | ) | (2,872 | )
RSUs outstanding, end of year | 123,612 |  | 58,740 |
(1) | Reflects RSUs paid to senior management on retirement in accordance with the RSU plan

X
- References No definition available. + Details
Name: | us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- 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
Name: | us-gaap_DisclosureOfShareBasedCompensationArrangementsByShareBasedPaymentAwardTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the amount of cash proceeds received from the exercise of stock options and similar instruments granted under share-based payment arrangements and the tax benefit realized from stock options exercised during the period. Disclosure may also include the intrinsic value of stock options exercised during the period. + 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 (j) -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901 + Details
Name: | us-gaap_ScheduleOfCashProceedsReceivedFromShareBasedPaymentAwardsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the number and weighted-average exercise prices (or conversion ratios) for stock awards granted to nonemployee directors that were outstanding at the beginning and end of the year, and the number of awards 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 (g) -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901 + Details
Name: | us-gaap_ScheduleOfShareBasedCompensationNonemployeeDirectorStockAwardPlanActivityTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the number and weighted-average grant date fair value for restricted stock units that were outstanding at the beginning and end of the year, and the number of restricted stock units that were granted, vested, or forfeited 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
Name: | us-gaap_ScheduleOfShareBasedCompensationRestrictedStockUnitsAwardActivityTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- 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
Name: | us-gaap_ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the number and weighted-average grant date fair value for outstanding performance shares. + 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) -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901 + Details
Name: | us-gaap_ShareBasedCompensationPerformanceSharesAwardOutstandingActivityTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration