XML 71 R47.htm IDEA: XBRL DOCUMENT
v3.3.1.900

Stock-Based Compensation (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] |
Summary of Share-Based Payment Award Stock Options Valuation Assumptions | The weighted average assumptions used in the Monte Carlo simulation model to calculate the fair value of the Company’s stock unit awards are outlined in the table below.
| 2015 |  | 2014 |  | 2013
Expected volatility of stock price | 37% |  | 40% |  | 43%
Risk-free interest rate | 0.74% |  | 0.83% |  | 0.39%
Valuation period | 3 years |  | 3 years |  | 3 years
Dividend yield | 0% |  | 0% |  | 0%
Annual Activity of RSUs | Annual activity related to stock units and cash units, consisted of (in thousands of shares):
|  | Time-Based RSUs |  | Performance-Based and Market Based RSUs |  | Cash Unit Awards
|  | Number of Shares |  | Weighted Average Grant Date Fair Value |  | Number of Shares |  | Weighted Average Grant Date Fair Value |  | Number of Units |  | Weighted Average Grant Date Fair Value
Outstanding at January 1, 2015 | 998 |  |  | $ | 27.26 |  |  | 1,884 |  |  | $ | 19.17 |  |  | 267 |  |  | $ | 14.90 |
| Granted (a) | 426 |  |  | 54.70 |  |  | 230 |  |  | 55.51 |  |  | — |  |  | — |
| Vested (b) | (563 | ) |  | 23.61 |  |  | (982 | ) |  | 12.05 |  |  | (156 | ) |  | 12.65 |
| Forfeited/expired | (42 | ) |  | 41.07 |  |  | (191 | ) |  | 20.57 |  |  | — |  |  | — |
Outstanding at December 31, 2015 (c) | 819 |  |  | $ | 43.34 |  |  | 941 |  |  | $ | 35.18 |  |  | 111 |  |  | $ | 18.04 |
__________
(a) | Reflects the maximum number of stock units assuming achievement of all performance-, market- and time-vesting criteria and does not include those for non-employee directors, which are discussed separately below. The weighted-average fair value of time-based RSUs and performance-based and market-based RSUs granted in 2014 was $42.05 and $42.03, respectively, and the weighted-average fair value of time-based RSUs, performance-based and market-based RSUs, and cash units granted in 2013 was $21.77, $20.04 and $18.04, respectively.
(b) | The total fair value of RSUs vested during 2015, 2014 and 2013 was $25 million, $15 million and $13 million, respectively. The total grant date fair value of cash units vested during the year ended December 31, 2015 was $2 million.
(c) | The Company’s outstanding time-based RSUs, performance-based and market-based RSUs, and cash units had aggregate intrinsic value of $30 million, $34 million and $4 million, respectively. Aggregate unrecognized compensation expense related to time-based RSUs and performance-based and market-based RSUs amounted to $32 million and will be recognized over a weighted average vesting period of 0.8 years. The Company assumes that substantially all outstanding awards will vest over time.
Summary of Share Based Compensation Shares Authorized Under Stock Option Plans by Exercise Price Range | The annual stock option activity consisted of (in thousands of shares):
|  | Number of Options |  | Weighted Average Exercise Price |  | Aggregate Intrinsic Value (in millions) |  | Weighted Average Remaining Contractual Term (years)
Outstanding at January 1, 2015 | 848 |  |  | $ | 2.92 |  |  | $ | 54 |  |  | 4.3
| Granted (a) | — |  |  | — |  |  |  |  |  |
| Exercised (b) | (20 | ) |  | 5.28 |  |  | 1 |  |  |
| Forfeited/expired | (1 | ) |  | 0.79 |  |  |  |  |  |
Outstanding and exercisable at December 31, 2015 (c) | 827 |  |  | $ | 2.87 |  |  | $ | 28 |  |  | 3.3
__________
(a) | No stock options were granted during 2014 or 2013.
(b) | Stock options exercised during 2014 and 2013 had intrinsic values of $6 million and $23 million, respectively, and the cash received from the exercise of options was insignificant in 2015 and 2014 and $3 million in 2013.
(c) | The Company assumes that substantially all outstanding stock options will vest over time.

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 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 option exercise prices, by grouped ranges, including the upper and lower limits of the price range, the number of shares under option, weighted average exercise price and remaining contractual option terms. + 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 + Details
Name: | us-gaap_ScheduleOfShareBasedCompensationSharesAuthorizedUnderStockOptionPlansByExercisePriceRangeTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

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