XML 46 R32.htm IDEA: XBRL DOCUMENT v2.4.0.8
Share-Based Compensation Plans (Tables)
 9 Months Ended
Sep. 30, 2014
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Share-based compensation expense recognized in continuing operations
The following table summarizes share-based compensation expense recognized in the Condensed Consolidated Statements of Income in Compensation and benefits (in millions):
 
Three months ended September 30,
 
Nine months ended September 30,
 
2014
 
2013
 
2014
 
2013
Restricted share units ("RSUs")
$
41

 
$
40

 
$
144

 
$
135

Performance share awards ("PSAs")
29

 
28

 
96

 
66

Share options
—

 
—

 
—

 
1

Employee share purchase plans
2

 
2

 
7

 
5

Total share-based compensation expense
$
72

 
$
70

 
$
247

 
$
207
Restricted share unit activity
A summary of the status of the Company's RSUs is as follows (shares in thousands):
 
Nine months ended September 30,
 
2014
 
2013
 
Shares
 
Fair Value (1)
 
Shares
 
Fair Value (1)
Non-vested at beginning of period
9,759

 
$
51

 
10,432

 
$
44

Granted
2,675

 
84

 
3,598

 
62

Vested
(3,561
)
 
49

 
(3,618
)
 
44

Forfeited
(385
)
 
56

 
(308
)
 
47

Non-vested at end of period
8,488

 
63

 
10,104

 
51

 ______________________________________________
(1)
Represents per share weighted average fair value of award at date of grant.
Performance-based plans
Information as of September 30, 2014 regarding the Company's target PSAs granted and shares that would be issued at current performance levels for PSAs granted during the nine months ended September 30, 2014 and the years ended December 31, 2013 and 2012, respectively, is as follows (shares in thousands, dollars in millions, except fair value):
 
As of September 30, 2014
 
As of December 31, 2013
 
As of December 31, 2012
Target PSAs granted
816

 
1,135

 
1,369

Fair value (1)
$
81

 
$
58

 
$
47

Number of shares that would be issued based on current performance levels
804

 
2,211

 
2,656

Unamortized expense, based on current performance levels
$
52

 
$
57

 
$
11

 ______________________________________________
(1)
Represents per share weighted average fair value of award at date of grant.
Share options and related information
A summary of the status of the Company's share options and related information is as follows (shares in thousands):
 
Nine months ended September 30,
 
2014
 
2013
 
Shares
 
Weighted- Average
Exercise Price
 
Shares
 
Weighted- Average
Exercise Price
Beginning outstanding
3,462

 
$
32

 
5,611

 
$
32

Granted
—

 
—

 
—

 
—

Exercised
(953
)
 
32

 
(1,694
)
 
32

Forfeited and expired
(6
)
 
37

 
(29
)
 
34

Outstanding at end of period
2,503

 
32

 
3,888

 
32

Exercisable at end of period
2,464

 
32

 
3,681

 
32
Other information related to the company's share options
Other information related to the Company's share options is as follows (in millions):
 
Three months ended September 30,
 
Nine months ended September 30,
 
2014
 
2013
 
2014
 
2013
Aggregate intrinsic value of stock options exercised
$
6

 
$
14

 
$
51

 
$
53

Cash received from the exercise of stock options
3

 
14

 
30

 
55

Tax benefit realized from the exercise of stock options
2

 
3

 
14

 
10