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CAPITAL STOCK (Tables)
 12 Months Ended
Dec. 31, 2019
Equity [Abstract]  
Common Stock Outstanding
A summary of the shares issued and outstanding for the years ended December 31, 2019, 2018, and 2017 is presented in the table below.

 
 
2019
 
2018
 
2017
Balance, beginning of year
 
374,696,222

 
380,954,864

 
379,439,676

Shares issued for stock-based compensation plans:
 
 
 
 
 
 
Treasury shares issued
 
31,701

 
2,454

 
1,411

Common shares issued
 
1,334,747

 
1,566,237

 
1,513,777

Treasury shares acquired
 
—

 
(7,827,333
)
 
—

Balance, end of year
 
376,062,670

 
374,696,222

 
380,954,864
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, 2019, 2018, and 2017 is presented in the table below.
 
 
2019
 
2018
 
2017
 
 
Loss
 
Shares
 
Per Share
 
Income
 
Shares
 
Per Share
 
Income
 
Shares
 
Per Share
 
 
(In millions, except per share amounts)
Basic:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Income (loss) attributable to common stock
 
$
(3,553
)
 
377

 
$
(9.43
)
 
$
40

 
382

 
$
0.11

 
$
1,304

 
381

 
$
3.42

Effect of Dilutive Securities:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Stock options and other
 
$
—

 
—

 
$
—

 
$
—

 
2

 
$
—

 
$
—


2

 
$
(0.01
)
Diluted:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Income (loss) attributable to common stock
 
$
(3,553
)
 
377

 
$
(9.43
)
 
$
40

 
384

 
$
0.11

 
$
1,304

 
383

 
$
3.41
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,
 
 
2019
 
2018
 
2017
 
 
(In millions)
Stock-settled and cash-settled compensation expensed
 
$
110

 
$
157

 
$
142

Stock-settled and cash-settled compensation capitalized
 
28

 
37

 
41

Total stock-settled and cash-settled compensation costs
 
$
138

 
$
194

 
$
183
Summary of Stock Options Activities
A summary of stock options issued and outstanding under the Omnibus Plans is presented in the table below for the years ended December 31, 2019, 2018, and 2017 (shares in thousands):
 
 
2019
 
2018
 
2017
 
 
Shares
Under Option
 
Weighted Average
Exercise Price
 
Shares
Under Option
 
Weighted Average
Exercise Price
 
Shares
Under Option
 
Weighted Average
Exercise Price
Outstanding, beginning of year
 
4,872

 
$
75.95

 
4,593

 
$
83.36

 
5,113

 
$
84.89

Granted
 
—

 
—

 
812

 
45.93

 
490

 
63.25

Exercised
 
—

 
—

 
(29
)
 
41.79

 
(15
)
 
41.24

Forfeited
 
(80
)
 
34.58

 
(121
)
 
74.58

 
(691
)
 
84.65

Expired
 
(494
)
 
88.82

 
(383
)
 
104.21

 
(304
)
 
76.09

Outstanding, end of year(1)
 
4,298

 
75.24

 
4,872

 
75.95

 
4,593

 
83.36

Expected to vest(2)
 
495

 
49.11

 
1,274

 
48.74

 
947

 
51.83

Exercisable, end of year(3)
 
3,803

 
78.64

 
3,598

 
85.59

 
3,646

 
91.56

(1)
As of December 31, 2019, options outstanding had a weighted average remaining contractual life of 4.1 years and no intrinsic value.
(2)
As of December 31, 2019, options expected to vest had a weighted average remaining contractual life of 7.8 years and no intrinsic value.
(3)
As of December 31, 2019, options exercisable had a weighted average remaining contractual life of 3.6 years and no intrinsic value.
Schedule of Assumptions Used
 
 
2019
 
2018
 
2017
Expected volatility
 
N/A
 
33.47
%
 
34.58
%
Expected dividend yields
 
N/A
 
2.16
%
 
1.58
%
Expected term (in years)
 
N/A
 
6

 
6

Risk-free rate
 
N/A
 
2.42
%
 
2.02
%
Weighted-average grant-date fair value
 
N/A
 
$
13.15

 
$
19.38


N/A - not applicable.
Schedule of Restricted Stock and Restricted Stock Units Activity
The following table is a summary of cash-settled restricted stock phantom unit activity for the years ended December 31, 2019 and 2018 (in thousands):
Cash-settled Restricted Stock Phantom Units(1)
 
2019
 
2018
Non-vested, beginning of year
 
1,818

 
59

Granted(2)
 
4,831

 
1,973

Vested
 
(616
)
 
(38
)
Forfeited
 
(649
)
 
(176
)
Non-vested, end of year(3)
 
5,384

 
1,818


(1)
The Company issued no cash-settled restricted stock phantom units in 2017.
(2)
The 2019 restricted stock phantom units included 3,401,477 awards based on the per-share market price of Apache’s common stock and 1,429,135 awards based on the per-share market price of ALTM’s common stock.
(3)
The outstanding liability for the unvested cash-settled restricted stock phantom units that has not been recognized as of December 31, 2019 was approximately $52 million.
A summary of stock-settled conditional restricted stock unit activity for the year ended December 31, 2019, is presented below:
Stock-settled Conditional Restricted Stock Units
 
Shares
 
Weighted
Average Grant-
Date Fair
Value(1)
 
 
(In thousands)
 
 
Non-vested, beginning of year
 
1,347

 
$
49.58

Granted
 
345

 
32.75

Vested
 
(510
)
 
45.62

Forfeited
 
(71
)
 
53.96

Expired
 
(330
)
 
29.78

Non-vested, end of year(2)(3)
 
781

 
52.69

(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.
(2)
As of December 31, 2019, there was $2 million of total unrecognized compensation cost related to 780,507 unvested stock-settled conditional restricted stock units.
(3)
As of December 31, 2019, the weighted-average remaining life of the unvested stock-settled conditional restricted stock units is approximately 0.3 years.
A summary of cash-settled conditional restricted stock unit activity for the year ended December 31, 2019, is presented below:
Cash-settled Conditional Restricted Stock Phantom Units
 
Phantom Units
 
 
(In thousands)
Non-vested, beginning of year
 
890

Granted
 
1,680

Vested
 
(2
)
Forfeited
 
(248
)
Non-vested, end of year(1)
 
2,320


(1)
As of December 31, 2019, the outstanding liability for the unvested cash-settled conditional restricted stock units that has not been recognized was approximately $26 million.
The following table is a summary of stock-settled restricted stock unit activity for the years ended December 31, 2019, 2018, and 2017 (shares in thousands):
 
 
2019
 
2018
 
2017
Stock-settled Restricted Stocks Units
 
Shares
 
Weighted-
Average Grant-
Date Fair Value
 
Shares
 
Weighted-
Average Grant-
Date Fair Value
 
Shares
 
Weighted-
Average Grant-
Date Fair Value
Non-vested, beginning of year
 
3,153

 
$
55.54

 
4,920

 
$
56.67

 
6,062

 
$
55.11

Granted
 
1,479

 
36.81

 
608

 
45.59

 
1,948

 
62.74

Vested(3)
 
(1,899
)
 
53.99

 
(2,023
)
 
55.10

 
(2,288
)
 
58.77

Forfeited
 
(285
)
 
45.06

 
(352
)
 
56.69

 
(802
)
 
55.54

Non-vested, end of year(1)(2)
 
2,448

 
46.65

 
3,153

 
55.54

 
4,920

 
56.67


(1)
As of December 31, 2019, there was $18 million of total unrecognized compensation cost related to 2,447,910 unvested stock-settled restricted stock units.
(2)
As of December 31, 2019, the weighted-average remaining life of unvested stock-settled restricted stock units is approximately 0.7 years.
(3)
The grant date fair values of the stock-settled awards vested during 2019, 2018, and 2017 were approximately $103 million, $111 million, and $135 million, respectively.