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SHARE-BASED COMPENSATION (Tables)
 12 Months Ended
Dec. 31, 2017
Schedule of Restricted Stock Units Activity
Activity
The following table shows our restricted stock unit activity for 2017.
 
RESTRICTED
STOCK UNITS
(IN THOUSANDS)
WEIGHTED
AVERAGE
GRANT-DATE
FAIR VALUE

Nonvested at December 31, 2016
1,583
$
26.49

Granted
739
32.83

Vested
(670)
27.23

Forfeited
(137)
27.43

Nonvested at December 31, 2017(1)
1,515
$
29.12

(1) As of December 31, 2017, there were approximately 203 thousand restricted stock units that had met the requisite service period and will be released as identified in the grant terms.
Weighted Average Assumptions Used in Estimating the Value of Performance Share Units
Weighted Average Assumptions Used in Estimating the Value of Performance Share Units
  
2017 
 GRANTS

2016 
 GRANTS

2015 
 GRANTS

Performance period
1/1/2017 – 12/31/2019

1/1/2016 – 12/31/2018

1/1/2015 – 12/31/2017

Expected dividends
3.74
%
3.92% - 5.37%

3.26
%
Risk-free rate
0.68% - 1.55%

0.45% - 0.97%

0.05% - 1.07%

Volatility
22.71% - 24.07%

21.87% - 28.09%

16.33% - 20.89%

Weighted average grant-date fair value
$
37.93

$
22.58

$
34.75

Act
Schedule of Performance Share Units Activity
Activity
The following table shows our performance share unit activity for 2017.
 
GRANTS (IN 
THOUSANDS)

WEIGHTED
AVERAGE
GRANT-DATE
FAIR VALUE

Nonvested at December 31, 2016
761

$
25.23

Granted at target
346

37.93

Vested
(130
)
29.98

Forfeited
(12
)
30.93

Nonvested at December 31, 2017(1)
965

$
30.87

(1) As of December 31, 2017, there were approximately 41 thousand performance share units that had met the requisite service period and will be released as identified in the grant terms.
Weighted Average Assumptions Used in Estimating Value of Stock Options Granted
Weighted Average Assumptions Used in Estimating Value of Stock Options Granted
  
2016 
 GRANTS

2015 
 GRANTS

Expected volatility
25.43
%
25.92
%
Expected dividends
5.37
%
3.28
%
Expected term (in years)
4.95

4.77

Risk-free rate
1.28
%
1.54
%
Weighted average grant-date fair value
$
2.73

$
5.85
Schedule of Stock Options Activity
Activity
The following table shows our option unit activity for 2017.
 
OPTIONS
(IN
THOUSANDS)

WEIGHTED
AVERAGE
EXERCISE
PRICE

WEIGHTED
AVERAGE
REMAINING
CONTRACTUAL
TERM
(IN YEARS)
AGGREGATE
INTRINSIC
VALUE (IN
MILLIONS)

Outstanding at December 31, 2016
14,712

$
24.96

 
 
Granted
—

$
—

 
 
Exercised
(5,975)

$
22.71

 
 
Forfeited or expired
(250)

$
27.75

 
 
Outstanding at December 31, 2017(1)
8,487

$
26.47

6.06
$
75

Exercisable at December 31, 2017
5,374

$
26.45

5.11
$
133

(1) As of December 31, 2017, there were approximately 727 thousand stock options that had met the requisite service period and will be released as identified in the grant terms.
Weighted Average Assumptions Used to Re-measure Value of Stock Appreciation Rights at Year-End
Weighted Average Assumptions Used to Re-measure Value of Stock Appreciation Rights at Year-End
  
2016 
 GRANTS

2015 
 GRANTS

Expected volatility
24.12
%
22.10
%
Expected dividends
4.04
%
4.20
%
Expected term (in years)
2.20

1.94

Risk-free rate
1.36
%
0.99
%
Weighted average fair value
$
7.84

$
6.96
Schedule of Stock Appreciation Rights Activity
Activity
The following table shows our stock appreciation rights activity for 2017.
 
RIGHTS
(IN
THOUSANDS)

WEIGHTED
AVERAGE
EXERCISE
PRICE

AVERAGE
REMAINING
CONTRACTUAL
TERM
(IN YEARS)
AGGREGATE
INTRINSIC
VALUE (IN
MILLIONS)

Outstanding at December 31, 2016
386

$
23.82

 
 
Granted
—

$
—

 
 
Exercised
(102
)
$
24.08

 
 
Forfeited or expired
(12
)
$
30.39

 
 
Outstanding at December 31, 2017
272

$
23.42

5.23
$
3

Exercisable at December 31, 2017
168

$
21.54

2.29
$
2