XML 36 R19.htm IDEA: XBRL DOCUMENT v3.20.2
Stock-Based Payments (Tables)
 9 Months Ended
Sep. 30, 2020
Share-based Payment Arrangement [Abstract]  
Schedule of Employee Service Share-based Compensation, Allocation of Recognized Period Costs Stock-based compensation expense is included on the Condensed Consolidated Statements of Income (Loss) and Comprehensive Income (Loss) based upon the job function of the employees receiving the grants as follows (in millions):
Three Months Ended
September 30,		Nine Months Ended
September 30,
 2020201920202019
Lease and Well$9.3 $13.3 $39.5 $40.6 
Gathering and Processing Costs0.2 0.3 0.9 0.8 
Exploration Costs1.0 5.2 15.0 18.1 
General and Administrative23.3 35.9 58.1 72.8 
Total$33.8 $54.7 $113.5 $132.3 
Weighted Average Fair Values and Valuation Assumptions
Weighted average fair values and valuation assumptions used to value stock option, SAR and ESPP grants during the nine-month periods ended September 30, 2020 and 2019 are as follows:
 Stock Options/SARsESPP
Nine Months Ended
September 30,		Nine Months Ended
September 30,
 2020201920202019
Weighted Average Fair Value of Grants$11.06 $19.49 $18.96 $22.83 
Expected Volatility44.46 %32.01 %55.53 %34.83 %
Risk-Free Interest Rate0.21 %1.69 %0.83 %2.28 %
Dividend Yield3.27 %1.39 %2.35 %1.04 %
Expected Life5.2 years5.1 years0.5 years0.5 years
Stock Options and SARs Transactions
The following table sets forth stock option and SAR transactions for the nine-month periods ended September 30, 2020 and 2019 (stock options and SARs in thousands):
Nine Months Ended
September 30, 2020		Nine Months Ended
September 30, 2019
Number of
Stock
Options/SARs		Weighted
Average
Grant
Price		Number of
Stock
Options/SARs		Weighted
Average
Grant
Price
Outstanding at January 19,395 $94.53 8,310 $96.90 
Granted1,993 37.62 1,946 75.43 
Exercised (1)
(23)69.59 (586)61.19 
Forfeited(1,077)88.54 (200)104.89 
Outstanding at September 30 (2)
10,288 $84.19 9,470 $94.53 
Vested or Expected to Vest (3)
9,963 $84.86 9,127 $91.51 
Exercisable at September 30 (4)
6,389 $96.53 5,307 $94.08 
(1)The total intrinsic value of stock options/SARs exercised during the nine months ended September 30, 2020 and 2019 was $0.4 million and $13.3 million, respectively. The intrinsic value is based upon the difference between the market price of EOG's common stock on the date of exercise and the grant price of the stock options/SARs.
(2)The total intrinsic value of stock options/SARs outstanding at September 30, 2020 and 2019 was $0.01 million and $4.8 million, respectively. At September 30, 2020 and 2019, the weighted average remaining contractual life was 4.5 years and 4.5 years, respectively.
(3)The total intrinsic value of stock options/SARs vested or expected to vest at September 30, 2020 and 2019 was $0.01 million and $4.8 million, respectively. At September 30, 2020 and 2019, the weighted average remaining contractual life was 4.5 years and 4.5 years, respectively.
(4)The total intrinsic value of stock options/SARs exercisable at September 30, 2020 and 2019 was zero and $4.7 million, respectively. At September 30, 2020 and 2019, the weighted average remaining contractual life was 3.4 years and 3.3 years, respectively.
Restricted Stock and Restricted Stock Unit Transactions
The following table sets forth restricted stock and restricted stock unit transactions for the nine-month periods ended September 30, 2020 and 2019 (shares and units in thousands):
Nine Months Ended
September 30, 2020		Nine Months Ended
September 30, 2019
Number of
Shares and
Units		Weighted
Average
Grant Date
Fair Value		Number of
Shares and
Units		Weighted
Average
Grant Date
Fair Value
Outstanding at January 14,546 $90.16 3,792 $96.64 
Granted1,440 38.16 1,728 80.12 
Released (1)
(1,139)85.94 (732)97.51 
Forfeited(63)90.00 (129)97.81 
Outstanding at September 30 (2)
4,784 $75.51 4,659 $90.34 
(1)The total intrinsic value of restricted stock and restricted stock units released during the nine months ended September 30, 2020 and 2019 was $44.5 million and $61.2 million, respectively. The intrinsic value is based upon the closing price of EOG's common stock on the date the restricted stock and restricted stock units are released.
(2)The total intrinsic value of restricted stock and restricted stock units outstanding at September 30, 2020 and 2019 was $171.9 million and $345.8 million, respectively.
Weighted Average Fair Values and Valuation Assumptions for Performance Award Grants
The following table sets forth the performance unit transactions for the nine-month periods ended September 30, 2020 and 2019 (units in thousands):
Nine Months Ended
September 30, 2020		Nine Months Ended
September 30, 2019
Number of
Units		Weighted
Average
Price per
Grant Date		Number of
Units		Weighted
Average
Price per
Grant Date
Outstanding at January 1598 $92.19 539 $101.53 
Granted172 37.44 172 75.09 
Granted for Performance Multiple (1)
66 100.95 72 69.43 
Released (2)
(223)88.52 (185)94.63 
Forfeited— — — — 
Outstanding at September 30 (3)
613 (4)$79.10 598 $92.19 
(1)Upon completion of the Performance Period for the performance units granted in 2016 and 2015, a performance multiple of 150% and 200%, respectively, was applied to each of the grants resulting in additional grants of performance units in February 2020 and February 2019, respectively.
(2)The total intrinsic value of performance units released during the nine months ended September 30, 2020 and 2019 was $12.9 million and $15.4 million, respectively. The intrinsic value is based upon the closing price of EOG's common stock on the date the performance units are released.
(3)The total intrinsic value of performance units outstanding at September 30, 2020 and 2019 was approximately $22.0 million and $44.4 million, respectively.
(4)Upon the application of the relevant performance multiple at the completion of each of the remaining Performance Periods, a minimum of 77 and a maximum of 1,149 performance units could be outstanding.