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Stock-Based Compensation (Tables)
 12 Months Ended
Dec. 31, 2019
Share-based Payment Arrangement [Abstract]  
Stock-based Compensation
The following table summarizes stock-based compensation expense for the years ended December 31, 2019, 2018 and 2017.
Year Ended December 31,
2019

2018

2017
RSUs and PSUs
$
173

 
$
170

 
$
181

Stock options
28

 
35

 
39

Compensation cost included in operating and SG&A expense
201

 
205

 
220

Compensation cost included in restructuring and other
corporate matters (a)
90

 
(14
)
 
12

Stock-based compensation expense, before income taxes
291

 
191

 
232

Related tax benefit
(59
)
 
(45
)
 
(84
)
Stock-based compensation expense, net of tax benefit
$
232

 
$
146

 
$
148

 
(a) 2019 primarily reflects accelerations triggered by the Merger and other restructuring activities. 2018 includes forfeitures of $28 million and accelerations of $14 million related to changes in senior management and other restructuring activities. 2017 reflects accelerations related to restructuring activities.
Rollforward of RSU Activity
The following table summarizes our RSU and PSU share activity:
 
 
Weighted Average
 
Shares
Grant Date Fair Value
Non-vested at December 31, 2018
 
8,011,104

 
 
$
55.96

 
Granted
 
10,620,187

 
 
$
41.71

 
Vested
 
(3,374,331
)
 
 
$
55.90

 
Forfeited
 
(767,231
)
 
 
$
53.89

 
Non-vested at December 31, 2019
 
14,489,729

 
 
$
45.64

 
Weighted Average Assumptions for Black-Scholes Option Pricing Model The fair value of each option grant was estimated on the date of grant using the Black-Scholes option-pricing model with the following weighted average assumptions:
 
2018

2017
Expected dividend yield
1.33
%
 
1.09
%
Expected stock price volatility
29.52
%
 
29.89
%
Risk-free interest rate
2.73
%
 
2.00
%
Expected term of options (years)
5.00

 
5.00


The fair value of each option grant was estimated on the date of grant using the Black-Scholes option-pricing model with the following weighted average assumptions in effect for Viacom at the time of grant:
 
2018
 
2017
Expected dividend yield
2.52
%
 
2.48
%
Expected stock price volatility
32.60
%
 
29.83
%
Risk-free interest rate
2.81
%
 
1.96
%
Expected term of options (years)
5.12

 
4.94
Rollforward of Stock Option Activity
The following table summarizes our stock option activity under the Plans.
 
 
 
 
 
Weighted Average
 
Stock Options
 
Exercise Price
Outstanding at December 31, 2018
 
21,725,132

 
 
 
$
65.52

 
Granted
 
—

 
 
 
$
—

 
Exercised
 
(605,867
)
 
 
 
$
24.72

 
Forfeited or expired
 
(4,827,556
)
 
 
 
$
92.70

 
Outstanding at December 31, 2019
 
16,291,709

 
 
 
$
58.98

 
Exercisable at December 31, 2019
 
11,458,112

 
 
 
$
60.65

 
Stock Option Exercise Information
The following table summarizes other information relating to stock option exercises during the years ended December 31, 2019, 2018 and 2017.
Year Ended December 31, 
2019
 
2018
 
2017
Cash received from stock option exercises
$
15

 
$
29

 
$
263

Tax benefit of stock option exercises
$
4

 
$
4

 
$
52

Intrinsic value of stock option exercises
$
15

 
$
16

 
$
138