Share-Based Compensation Plans (Tables)

12 Months Ended

Dec. 31, 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 Consolidated Statements of Income in Compensation and benefits (in millions):

Years ended December 31	2014		2013		2012
Restricted share units ("RSUs")	$	187	$	174	$	154
Performance share awards ("PSAs")	132		117		46
Share options	—		2		5
Employee share purchase plans	9		7		7
Total share-based compensation expense	328		300		212
Tax benefit	94		81		62
Share-based compensation expense, net of tax	$	234	$	219	$	150

Restricted share unit activity

A summary of the status of the Company's RSUs is as follows (shares in thousands):

	2014				2013				2012
Years ended December 31	Shares		Fair Value (1)		Shares		Fair Value (1)		Shares		Fair Value (1)
Non-vested at beginning of year	9,759		$	51	10,432		$	44	9,916		$	42
Granted	2,844		84		3,714		62		5,113		46
Vested	(3,732	)	49		(3,945	)	44		(3,958	)	42
Forfeited	(490	)	58		(442	)	47		(639	)	44
Non-vested at end of year	8,381		63		9,759		51		10,432		44

(1) Represents per share weighted average fair value of award at date of grant.

Performance-based plans

Information regarding the Company's target PSAs granted and shares that would be issued at current performance levels for PSAs granted during the years ended December 31, 2014, 2013 and 2012, respectively, is as follows (shares in thousands, dollars in millions, except fair value):

	2014		2013		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	1,201		2,197		2,644
Unamortized expense, based on current performance levels	$	70	$	45	$	—

(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):

Years ended December 31	2014				2013				2012
	Shares		Weighted-Average Exercise Price Per Share		Shares		Weighted-Average Exercise Price Per Share		Shares		Weighted-Average Exercise Price Per Share
Beginning outstanding	3,462		$	32	5,611		$	32	9,116		$	32
Granted	—		—		—		—		—		—
Exercised	(1,155	)	33		(2,116	)	32		(3,413	)	31
Forfeited and expired	(7	)	37		(33	)	34		(92	)	37
Outstanding at end of year	2,300		32		3,462		32		5,611		32
Exercisable at end of year	2,273		32		3,270		32		5,117		31
Shares available for grant	16,333				11,330				17,024

Summary of options outstanding and exercisable

A summary of options outstanding and exercisable as of December 31, 2014 is as follows (shares in thousands):

	Options Outstanding				Options Exercisable
Range of Exercise Prices	Shares Outstanding	Weighted-Average Remaining Contractual Life (years)	Weighted-Average Exercise Price Per Share		Shares Exercisable	Weighted-Average Remaining Contractual Life (years)	Weighted-Average Exercise Price Per Share
$ 19.54 – 22.86	1,089	0.49	$	22.64	1,089	0.49	$	22.64
22.87 – 25.51	71	0.49	25.35		71	0.49	25.35
25.52 – 32.53	34	2.73	29.15		34	2.73	29.15
32.54 – 36.88	205	1.93	35.82		205	1.93	35.82
36.89 – 43.44	481	2.36	39.29		481	2.36	39.29
43.45 – 47.16	265	1.77	45.81		265	1.77	45.81
47.17 – 52.93	155	4.69	50.36		128	4.39	49.83
	2,300				2,273

Other information related to the company's share options

Other information related to the Company's share options is as follows (in millions):

	2014		2013		2012
Aggregate intrinsic value of stock options exercised	$	61	$	73	$	67
Cash received from the exercise of stock options	38		61		105
Tax benefit realized from the exercise of stock options	16		15		11