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Stock-Based Compensation (Tables)

3 Months Ended

Mar. 31, 2017

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Schedule of Market Performance Unit Award Valuation Assumptions

	2017 RTSR PSU
Weighted average grant date fair value	$	27.98
Weighted average expected volatility	29.0		%
Weighted average volatility of XHB	18.4		%
Weighted average correlation coefficient	0.53
Weighted average risk-free interest rate	1.5		%
Weighted average dividend yield	—

Schedule of Nonvested Share Activity

A summary of RSU activity for the three months ended March 31, 2017 is presented below (number of shares in millions):

	Restricted Stock Units			Weighted Average Grant Date Fair Value
Unvested at January 1, 2017	1.4			$	37.53
Granted	0.9			27.69
Vested (a)	(0.5	)		40.63
Forfeited	—			—
Unvested at March 31, 2017	1.8			$	31.41

______________

(a) The total fair value of RSUs which vested during the three months ended March 31, 2017 was $23 million.

A summary of PSU activity for the three months ended March 31, 2017 is presented below (number of shares in millions):

	Performance Share Units (a)			Weighted Average Grant Date Fair Value
Unvested at January 1, 2017	1.0			$	36.71
Granted	0.7			27.70
Vested	—			—
Forfeited	—			—
Unvested at March 31, 2017	1.7			$	32.74

______________

(a) The PSU amounts in the table are shown at the target amount of the award.

Summary of Stock Options Valuation Assumptions

	2017 Options
Weighted average grant date fair value	$	8.00
Weighted average expected volatility	30.7		%
Weighted average expected term (years)	6.25
Weighted average risk-free interest rate	2.1		%
Weighted average dividend yield	1.3		%

Summary of Stock Options Activity

A summary of stock option unit activity for the three months ended March 31, 2017 is presented below (number of shares in millions):

	Options			Weighted Average Exercise Price
Outstanding at January 1, 2017	3.3			$	31.73
Granted	0.4			27.56
Exercised	—			—
Forfeited/Expired	—			—
Outstanding at March 31, 2017 (a)	3.7			$	31.31

______________

(a) Options outstanding at March 31, 2017 have an intrinsic value of $7 million and have a weighted average remaining contractual life of 6.2 years.

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- Definition

Tabular disclosure of the significant assumptions used during the year to estimate the fair value of market performance unit awards.

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Tabular disclosure of the changes in outstanding nonvested 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)(2)
-URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901

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+ 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

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+ 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

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