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Stock-Based Compensation (Tables)
 12 Months Ended
Dec. 31, 2019
Share-based Payment Arrangement [Abstract]  
Assumptions Used in Options Pricing Model The assumptions pertaining to options issued during 2019, 2018, and 2017 are shown in the following table.
Year ended December 31,
2019
2018
2017
Average option life
6.5 years

6.5 years

6.0 years

Future dividend yield
3.88
%
2.28
%
1.79
%
Historical share price volatility
.266

.282

.287

Weighted-average risk-free interest rate
2.5
%
2.8
%
2.1
%
Activity, Pricing and Other Information for Stock Options

The following table summarizes activity, pricing and other information for our stock options for the year ended December 31, 2019:
 
Number of
Options
Weighted-Average
Exercise Price Per
Option
Weighted-Average
Remaining Life
Aggregate
Intrinsic
Value(a)
Outstanding at December 31, 2018
8,123,844

$
11.92

5.3 years
$
31

Granted
659,602

17.51

 
 
Exercised
(2,039,208
)
9.07

 
 
Lapsed or canceled
(58,430
)
14.94

 
 
Outstanding at December 31, 2019
6,685,808

$
13.32

5.2
47

 
 
 
 
 
Expected to vest
1,996,076

16.42

7.3
8

Exercisable at December 31, 2019
4,602,472

$
11.89

4.3
$
39


(a)
The intrinsic value of a stock option is the amount by which the fair value of the underlying stock exceeds the exercise price of the option.
Activity and Pricing Information for Nonvested Shares in Long-Term Incentive Compensation Program
The following table summarizes activity and pricing information for the nonvested shares in the Program for the year ended December 31, 2019.
 
Vesting Contingent on
Service Conditions
 
Vesting Contingent on
Performance and Service
Conditions - Payable in Stock
 
Vesting Contingent on
Performance and Service
Conditions - Payable in Cash
  
Number of
Nonvested
Shares
Weighted-
Average
Grant-Date
Fair Value
 
Number of
Nonvested
Shares
Weighted-
Average
Grant-Date
Fair Value
 
Number of
Nonvested
Shares
Weighted-
Average
Grant-Date
Fair Value
Outstanding at December 31, 2018
9,574,950

$
16.84

 
1,294,403

$
13.43

 
$
3,245,051

$
19.29

Granted
5,193,227

17.51

 
57,584

17.51

 
1,872,519

20.33

Vested
(3,946,285
)
15.27

 
(855,233
)
10.49

 
(1,139,582
)
17.51

Forfeited
(525,498
)
17.94

 
(5,565
)
18.96

 
(78,104
)
16.80

Outstanding at December 31, 2019
10,296,394

$
17.73

 
491,189

$
18.87

 
$
3,899,884

$
20.37

 
 
 
 
 
 
 
 
 
Activity and Pricing Information for Nonvested Shares Granted Under Deferred Compensation Plans and Other Restricted Stock Awards
The following table summarizes activity and pricing information for the nonvested shares granted under our deferred compensation plans and these other restricted stock or unit award programs for the year ended December 31, 2019.
 
Number of
Nonvested
Shares
Weighted-Average
Grant-Date
Fair Value
Outstanding at December 31, 2018
3,279,817

$
17.36

Granted
997,217

17.57

Dividend equivalents
19

17.07

Vested
(1,133,600
)
16.60

Forfeited
(105,489
)
18.61

Outstanding at December 31, 2019
3,037,964

$
17.67