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Share-Based Compensation Share-Based Compensation (Tables)
 12 Months Ended
Dec. 31, 2015
Share-based Compensation [Abstract]  
Summary of Components of Share-Based Compensation Expense
The components of share-based compensation expense for all share-based compensation plans and related tax benefits are as follows.
(in millions)
 
 
 
 
 
Years Ended December 31
2015
 
2014
 
2013
Total share-based compensation expense
$
38

 
$
38

 
$
35

Related tax benefits recognized in net income
$
14

 
$
14

 
$
13
Schedule of Unrecognized Compensation Expense
The following table summarizes unrecognized compensation expense for all share-based plans:
(dollar amounts in millions)
December 31, 2015
Total unrecognized share-based compensation expense
$
49

Weighted-average expected recognition period (in years)
2.8
Estimated Weighted-Average Grant-Date Fair Value per Option and the Underlying Model Assumptions
The estimated weighted-average grant-date fair value per option and the underlying binomial option-pricing model assumptions are summarized in the following table:
Years Ended December 31
2015
 
2014
 
2013
Weighted-average grant-date fair value per option
$
11.31

 
$
13.21

 
$
9.07

Weighted-average assumptions:
 
 
 
 
 
 Risk-free interest rates
1.83
%
 
2.95
%
 
1.94
%
 Expected dividend yield
3.00

 
3.00

 
3.00

Expected volatility factors of the market price of
   Comerica common stock
33

 
31

 
34

Expected option life (in years)
6.9

 
5.8

 
6.4
Summary of Stock Option Activity and Related Information
A summary of the Corporation’s stock option activity and related information for the year ended December 31, 2015 follows:
 
 
 
Weighted-Average
 
 
  
Number of
Options
(in thousands)
 
Exercise Price
per Share
 
Remaining
Contractual
Term (in years)
 
Aggregate
Intrinsic Value
(in millions)
Outstanding-January 1, 2015
14,003

 
$
44.28

 
 
 
 
Granted
1,035

 
42.32

 
 
 
 
Forfeited or expired
(2,405
)
 
53.88

 
 
 
 
Exercised
(841
)
 
33.46

 
 
 
 
Outstanding-December 31, 2015
11,792

 
42.92

 
4.1

 
$
53

Outstanding, net of expected forfeitures-December 31, 2014
11,520

 
43.04

 
4.0

 
52

Exercisable-December 31, 2015
9,146

 
43.70

 
3.0

 
43
Summary of Restricted Stock Activity and Related Information
A summary of the Corporation’s restricted stock activity and related information for the year ended December 31, 2015 follows:
 
Number of
Shares
(in thousands)
 
Weighted-Average
Grant-Date Fair 
Value per Share
Outstanding-January 1, 2015
2,140

 
$
35.38

Granted
413

 
42.45

Forfeited
(106
)
 
37.02

Vested
(537
)
 
33.29

Outstanding-December 31, 2015
1,910

 
$
37.41
Summary of Restricted Stock Unit Activity and Related Information
A summary of the Corporation's restricted stock unit activity and related information for the year ended December 31, 2015 follows:
 
Service-Based Units
 
Performance-Based Units
 
Number of
Units
(in thousands)
 
Weighted-Average
Grant-Date Fair 
Value per Share
 
Number of
Units
(in thousands)
 
Weighted-Average
Grant-Date Fair 
Value per Share
Outstanding-January 1, 2015
387

 
$
34.58

 
319

 
$
45.44

Granted
18

 
46.83

 
266

 
42.32

Converted
41

 
33.79

 
(41
)
 
33.79

Forfeited
(33
)
 
37.78

 
(34
)
 
43.27

Outstanding-December 31, 2015
413

 
34.77

 
510

 
44.89