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CAPITAL STOCK (Tables)
 12 Months Ended
Dec. 31, 2017
Equity [Abstract]  
Common Stock Outstanding
A summary of the shares issued and outstanding for the years ended December 31, 2017, 2016, and 2015 is presented in the table below.

 
 
2017
 
2016
 
2015
Balance, beginning of year
 
379,439,676

 
378,034,175

 
376,504,892

Shares issued for stock-based compensation plans:
 
 
 
 
 
 
Treasury shares issued
 
1,411

 
11,504

 
17,525

Common shares issued
 
1,513,777

 
1,393,997

 
1,511,758

Balance, end of year
 
380,954,864

 
379,439,676

 
378,034,175
Net Income Per Common Share
A reconciliation of the components of basic and diluted net income (loss) per common share for the years ended December 31, 2017, 2016, and 2015 is presented in the table below.
 
 
 
2017
 
2016
 
2015
 
 
Income
 
Shares
 
Per Share
 
Loss
 
Shares
 
Per Share
 
Income (Loss)
 
Shares
 
Per Share
 
 
(In millions, except per share amounts)
Basic:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Income (loss) from continuing operations
 
$
1,304

 
381

 
$
3.42

 
$
(1,372
)
 
379

 
$
(3.62
)
 
$
(10,844
)
 
378

 
$
(28.70
)
Income (loss) from discontinued operations
 
—

 
381

 
—

 
(33
)
 
379

 
(0.09
)
 
492

 
378

 
1.30

Income (loss) attributable to common stock
 
$
1,304

 
381

 
$
3.42

 
$
(1,405
)
 
379

 
$
(3.71
)
 
$
(10,352
)
 
378

 
$
(27.40
)
Effect of Dilutive Securities:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Stock options and other
 
$
—

 
2

 
$
(0.01
)
 
$
—

 
—

 
$
—

 
$
—

 
—

 
$
—

Diluted:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Income (loss) from continuing operations
 
$
1,304

 
383

 
$
3.41

 
$
(1,372
)
 
379

 
$
(3.62
)
 
$
(10,844
)
 
378

 
$
(28.70
)
Income (loss) from discontinued operations
 
—

 
383

 
—

 
(33
)
 
379

 
(0.09
)
 
492

 
378

 
1.30

Income (loss) attributable to common stock
 
$
1,304

 
383

 
$
3.41

 
$
(1,405
)
 
379

 
$
(3.71
)
 
$
(10,352
)
 
378

 
$
(27.40
)
Description of Stock Based Compensation Plans and Related Costs
A description of the Company’s stock-based compensation plans and related costs follows:
 
 
 
2017
 
2016
 
2015
 
 
(In millions)
Stock-based compensation expensed
 
$
142

 
$
131

 
$
100

Stock-based compensation capitalized
 
41

 
40

 
53

Total stock-based compensation costs
 
$
183

 
$
171

 
$
153
Summary of Stock Options Activities
A summary of stock options issued and outstanding under the Omnibus Plans is presented in the table and narrative below:

 
 
2017
 
 
Shares
Under Option
 
Weighted Average
Exercise Price
 
 
(In thousands)
 
 
Outstanding, beginning of year
 
5,113

 
$
84.89

Granted
 
490

 
63.25

Exercised
 
(15
)
 
41.24

Forfeited or expired
 
(995
)
 
82.03

Outstanding, end of year(1)
 
4,593

 
83.37

Expected to vest(2)
 
947

 
51.83

Exercisable, end of year(3)
 
3,646

 
91.56

 
(1)
As of December 31, 2017, options outstanding had a weighted average remaining contractual life of 4.7 years and aggregate intrinsic value of $0.7 million.
(2)
As of December 31, 2017, options expected to vest had a weighted average remaining contractual life of 8.5 years and aggregate intrinsic value of $0.5 million.
(3)
As of December 31, 2017, options exercisable had a weighted average remaining contractual life of 3.7 years and aggregate intrinsic value of $0.2 million.
Schedule of Assumptions Used
 
 
2017
 
2016
 
2015
Expected volatility
 
34.58
%
 
32.72
%
 
N/A
Expected dividend yields
 
1.58
%
 
2.42
%
 
N/A
Expected term (in years)
 
6

 
6

 
N/A
Risk-free rate
 
2.02
%
 
1.44
%
 
N/A
Weighted-average grant-date fair value
 
$
19.38

 
$
10.38

 
N/A
Schedule of Restricted Stock and Restricted Stock Units Activity
 
 
Shares
 
Weighted
Average Grant-
Date Fair
Value(1)
 
 
(In thousands)
 
 
Non-vested at January 1, 2017
 
1,225

 
$
45.62

Granted
 
621

 
66.97

Forfeited
 
(152
)
 
52.90

Non-vested at December 31, 2017
 
1,694

 
52.39

 
(1)
The fair value of each conditional restricted stock unit award is estimated as of the date of grant using a Monte Carlo simulation with the following assumptions used for all grants made under the plan: (i) a three-year continuous risk-free interest rate; (ii) a constant volatility assumption based on the historical realized stock price volatility of the Company and the designated peer group; and (iii) the historical stock prices and expected dividends of the common stock of the Company and its designated peer group.
A summary of restricted stock unit activity for the year ended December 31, 2017, is presented below.
 
 
 
Shares
 
Weighted-
Average Grant-
Date Fair Value
 
 
(In thousands)
 
 
Non-vested at January 1, 2017
 
6,062

 
$
55.11

Granted
 
1,948

 
62.74

Vested
 
(2,288
)
 
58.77

Forfeited
 
(802
)
 
55.54

Non-vested at December 31, 2017
 
4,920

 
56.34