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Share-Based Compensation
6 Months Ended
Jun. 30, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Share-Based Compensation
Share-Based Compensation

We recognized the following employee share-based compensation expense during the second quarter and the first six months of 2016 and 2015:
 
Three Months Ended June 30,
 
Six Months Ended June 30,
(Dollars in millions)
2016
 
2015
 
2016
 
2015
Share-based compensation
$
17

 
$
19

 
$
38

 
$
34

Related tax benefit
4

 
4

 
8

 
7


During the first six months of 2016, we granted approximately 2.1 million performance units to certain employees, which will vest with continued employment if the Company meets certain market-based performance goals. The performance units have a weighted average grant date fair value of $5.11 per share based on the Monte Carlo simulation method. The assumptions used in the Monte Carlo simulation included a risk-free rate of 0.80%, volatility of 68% and a zero dividend yield. As of June 30, 2016, there was $15 million of unrecognized compensation expense related to our performance units. This cost is expected to be recognized over a weighted average period of 2 years.

During the first six months of 2016, we also granted 2.9 million restricted shares at a weighted average grant date fair value of $6.31 per share. As of June 30, 2016, there was $96 million of unrecognized compensation expense related to our unvested restricted share grants. This cost is expected to be recognized over a weighted average period of 2 years.