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CAPITAL STOCK (Tables)
 12 Months Ended
Dec. 31, 2018
Equity [Abstract]  
Common Stock Outstanding
A summary of the shares issued and outstanding for the years ended December 31, 2018, 2017, and 2016 is presented in the table below.

 
 
2018
 
2017
 
2016
Balance, beginning of year
 
380,954,864

 
379,439,676

 
378,034,175

Shares issued for stock-based compensation plans:
 
 
 
 
 
 
Treasury shares issued
 
2,454

 
1,411

 
11,504

Common shares issued
 
1,566,237

 
1,513,777

 
1,393,997

Treasury shares acquired
 
(7,827,333
)
 
—

 
—

Balance, end of year
 
374,696,222

 
380,954,864

 
379,439,676
Reconciliation of Components of Basic and Diluted Net Income (Loss) Per Common Share
A reconciliation of the components of basic and diluted net income (loss) per common share for the years ended December 31, 2018, 2017, and 2016 is presented in the table below:
 
 
2018
 
2017
 
2016
 
 
Income
 
Shares
 
Per Share
 
Income
 
Shares
 
Per Share
 
Loss
 
Shares
 
Per Share
 
 
(In millions, except per share amounts)
Basic:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Income (loss) from continuing operations
 
$
40

 
382

 
$
0.11

 
$
1,304

 
381

 
$
3.42

 
$
(1,372
)
 
379

 
$
(3.62
)
Income (loss) from discontinued operations
 
—

 
382

 
—

 
—

 
381

 
—

 
(33
)
 
379

 
(0.09
)
Income (loss) attributable to common stock
 
$
40

 
382

 
$
0.11

 
$
1,304

 
381

 
$
3.42

 
$
(1,405
)
 
379

 
$
(3.71
)
Effect of Dilutive Securities:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Stock options and other
 
$
—

 
2

 
$
—

 
$
—

 
2

 
$
(0.01
)
 
$
—

 
—

 
$
—

Diluted:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Income (loss) from continuing operations
 
$
40

 
384

 
$
0.11

 
$
1,304

 
383

 
$
3.41

 
$
(1,372
)
 
379

 
$
(3.62
)
Income (loss) from discontinued operations
 
—

 
384

 
—

 
—

 
383

 
—

 
(33
)
 
379

 
(0.09
)
Income (loss) attributable to common stock
 
$
40

 
384

 
$
0.11

 
$
1,304

 
383

 
$
3.41

 
$
(1,405
)
 
379

 
$
(3.71
)
Description of Stock Based Compensation Plans and Related Costs
A description of the Company’s stock-settled and cash-settled units compensation plans and related costs follows:
 
 
For the Year Ended December 31,
 
 
2018
 
2017
 
2016
 
 
(In millions)
Stock-settled and cash-settled compensation expensed
 
$
157

 
$
142

 
$
131

Stock-settled and cash-settled compensation capitalized
 
37

 
41

 
40

Total stock-settled and cash-settled compensation costs
 
$
194

 
$
183

 
$
171
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:
 
 
2018
 
 
Shares
Under Option
 
Weighted Average
Exercise Price
 
 
(In thousands)
 
 
Outstanding, beginning of year
 
4,593

 
$
83.36

Granted
 
812

 
45.93

Exercised
 
(29
)
 
41.79

Forfeited
 
(121
)
 
74.58

Expired
 
(383
)
 
104.21

Outstanding, end of year(1)
 
4,872

 
75.95

Expected to vest(2)
 
1,274

 
48.74

Exercisable, end of year(3)
 
3,598

 
85.59

 
(1)
As of December 31, 2018, options outstanding had a weighted average remaining contractual life of 4.8 years and no intrinsic value.
(2)
As of December 31, 2018, options expected to vest had a weighted average remaining contractual life of 8.5 years and no intrinsic value.
(3)
As of December 31, 2018, options exercisable had a weighted average remaining contractual life of 3.5 years and no intrinsic value.
Schedule of Assumptions Used
 
 
2018
 
2017
 
2016
Expected volatility
 
33.47
%
 
34.58
%
 
32.72
%
Expected dividend yields
 
2.16
%
 
1.58
%
 
2.42
%
Expected term (in years)
 
6

 
6

 
6

Risk-free rate
 
2.42
%
 
2.02
%
 
1.44
%
Weighted-average grant-date fair value
 
$
13.15

 
$
19.38

 
$
10.38
Schedule of Restricted Stock and Restricted Stock Units Activity
A summary of cash-settled conditional restricted stock unit activity for the year ended December 31, 2018, is presented below:
Cash-settled Conditional Restricted Stock Phantom Units
 
Phantom Units
 
 
(In thousands)
Non-vested at January 1, 2018
 
—

Granted
 
931

Vested
 
—

Forfeited
 
(41
)
Non-vested at December 31, 2018
 
890

A summary of stock-settled restricted stock unit activity for the year ended December 31, 2018, is presented below.
Stock-settled Restricted Stocks Units
 
Shares
 
Weighted-
Average Grant-
Date Fair Value
 
 
(In thousands)
 
 
Non-vested at January 1, 2018
 
4,920

 
$
56.67

Granted
 
608

 
45.59

Vested
 
(2,023
)
 
55.10

Forfeited
 
(352
)
 
56.69

Non-vested at December 31, 2018
 
3,153

 
55.54

A summary of cash-settled restricted stock unit activity for the year ended December 31, 2018, is presented below.
Cash-settled Restricted Stock Phantom Units
 
Phantom Units
 
 
(In thousands)
Non-vested at January 1, 2018
 
59

Granted
 
1,973

Vested
 
(38
)
Forfeited
 
(176
)
Non-vested at December 31, 2018
 
1,818

A summary of stock-settled conditional restricted stock unit activity for the year ended December 31, 2018, is presented below:
Stock-settled Conditional Restricted Stock Units
 
Shares
 
Weighted
Average Grant-
Date Fair
Value(1)
 
 
(In thousands)
 
 
Non-vested at January 1, 2018
 
1,694

 
$
52.39

Granted
 
19

 
34.78

Vested
 
(193
)
 
66.63

Forfeited
 
(173
)
 
48.01

Non-vested at December 31, 2018
 
1,347

 
50.68

 
(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.