XML 74 R44.htm IDEA: XBRL DOCUMENT
v3.20.4

Incentive Plans (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2020
Share-based Payment Arrangement [Abstract] |
Share-Based Plans, Amounts Recognized in the Financial Statements | Amounts recognized in the financial statements with respect to share-based plans are shown in the following table:
(Thousands of dollars) | 2020 |  | 2019 |  | 2018
Compensation charged against income (loss) before income tax benefit | $ | 24,812 |  |  | 50,170 |  |  | 34,467 |
Related income tax benefit recognized in income | 2,672 |  |  | 7,389 |  |  | 4,383 |
Changes in Stock Options Outstanding | Changes in stock options outstanding during the last three years are presented in the following table.
| Number of Shares |  | Average Exercise Price
Outstanding at December 31, 2017 | 4,901,269 |  |  | $ | 45.74 |
Exercised | (72,000) |  |  | 17.57 |
Forfeited | (834,674) |  |  | 53.36 |
Outstanding at December 31, 2018 | 3,994,595 |  |  | 44.66 |
Exercised | (57,500) |  |  | 17.57 |
Forfeited | (1,016,685) |  |  | 48.29 |
Outstanding at December 31, 2019 | 2,920,410 |  |  | 43.93 |
Exercised | (47,000) |  |  | 17.57 |
Forfeited | (825,010) |  |  | 54.85 |
Outstanding at December 31, 2020 | 2,048,400 |  |  | 40.14 |
Exercisable at December 31, 2017 | 3,197,269 |  |  | $ | 54.22 |
Exercisable at December 31, 2018 | 3,182,345 |  |  | 49.10 |
Exercisable at December 31, 2019 | 2,694,410 |  |  | 43.51 |
Exercisable at December 31, 2020 | 2,048,400 |  |  | 37.88 |
Additional Information about Stock Options Outstanding | Additional information about stock options outstanding at December 31, 2020 is shown below.
|  | Options Outstanding |  | Options Exercisable
Range of Exercise Prices per Option |  | No. of Options |  | Avg. Life Remaining in Years |  | Aggregate Intrinsic Value |  | No. of Options |  | Avg. Life Remaining in Years |  | Aggregate Intrinsic Value
$17.00 to $30.99 |  | 984,500 |  |  | 2.5 |  | $ | — |  |  | 984,500 |  |  | 2.5 |  | $ | — |
$31.00 to $50.99 |  | 655,000 |  |  | 1.1 |  | — |  |  | 655,000 |  |  | 1.1 |  | — |
$51.00 to $65.00 |  | 408,900 |  |  | 0.1 |  | — |  |  | 408,900 |  |  | 0.1 |  | — |
|  | 2,048,400 |  |  | 1.6 |  | $ | — |  |  | 2,048,400 |  |  | 1.6 |  | $ | — |
Changes in Performance-Based RSU Outstanding | Changes in PSUs outstanding for each of the last three years are presented in the following table.
(Number of stock units) | 2020 |  | 2019 |  | 2018
Outstanding at beginning of year | 2,129,733 |  |  | 1,660,417 |  |  | 1,187,921 |
Granted | 999,700 |  |  | 957,600 |  |  | 905,500 |
Vested and issued | (429,194) |  |  | (331,917) |  |  | (311,866) |
Forfeited | (492,810) |  |  | (156,367) |  |  | (121,138) |
Outstanding at end of year | 2,207,429 |  |  | 2,129,733 |  |  | 1,660,417 |
Assumptions used in Valuation of Performance Awards Granted | The assumptions used in the valuation of the performance awards granted in 2020, 2019 and 2018 are presented in the following table.
| 2020 |  | 2019 |  | 2018
Fair value per share at grant date | 21.51 |  | $28.09 |  | $22.99 - $30.56
Assumptions |  |  |  |  |
Expected volatility | 39.00% |  | 46.00% |  | 48.00%
Risk-free interest rate | 1.40% |  | 2.50% |  | 2.30%
Stock beta | 0.864 |  | 1.037 |  | 1.103
Expected life | 3.0 years |  | 3.0 years |  | 3.0 years
Changes in Time-Lapse Restricted Stock and Restricted Stock Units Outstanding | Changes in RSUs outstanding for each of the last three years are presented in the following table.
(Number of share units) | 2020 |  | 2019 |  | 2018
Outstanding at beginning of year | 1,535,080 |  |  | 1,538,854 |  |  | 1,035,980 |
Granted | 446,848 |  |  | 409,692 |  |  | 823,803 |
Vested and issued | (271,285) |  |  | (275,738) |  |  | (233,456) |
Forfeited | (327,600) |  |  | (137,728) |  |  | (87,473) |
Outstanding at end of year | 1,383,043 |  |  | 1,535,080 |  |  | 1,538,854 |

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 cost recognized for award under share-based payment arrangement by plan. Includes, but is not limited to, related tax benefit. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (h)(1) -URI http://asc.fasb.org/extlink&oid=116856206&loc=d3e5070-113901 + Details
Name: | us-gaap_ScheduleOfCompensationCostForShareBasedPaymentArrangementsAllocationOfShareBasedCompensationCostsByPlanTableTextBlock
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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(1) -URI http://asc.fasb.org/extlink&oid=116856206&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 for stock option plans. Includes, but is not limited to, outstanding awards at beginning and end of year, grants, exercises, forfeitures, and weighted-average grant date fair value. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=116856206&loc=d3e5070-113901 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (e) -URI http://asc.fasb.org/extlink&oid=116856206&loc=d3e5070-113901 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(1) -URI http://asc.fasb.org/extlink&oid=116856206&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 significant assumptions used during the year to estimate the fair value of employee stock purchase plans, including, but not limited to: (a) expected term, (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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (f)(2) -URI http://asc.fasb.org/extlink&oid=116856206&loc=d3e5070-113901 + Details
Name: | us-gaap_ScheduleOfShareBasedPaymentAwardEmployeeStockPurchasePlanValuationAssumptionsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

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

X
- Definition Tabular disclosure of number, weighted-average exercise price or conversion ratio, aggregate intrinsic value, and weighted-average remaining contractual term for outstanding and exercisable options that are fully vested and expected to vest. Includes, but is not limited to, unvested options for which requisite service period has not been rendered but that are expected to vest based on achievement of performance condition, if forfeitures are recognized when they occur. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (e) -URI http://asc.fasb.org/extlink&oid=116856206&loc=d3e5070-113901 + Details
Name: | us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingAndExercisableTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration