Share-Based Compensation Plans (Tables)

3 Months Ended

Mar. 31, 2016

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 March 31,
	2016		2015
Restricted share units ("RSUs")	$	61	$	65
Performance share awards ("PSAs")	20		21
Share options	—		—
Employee share purchase plans	4		4
Total share-based compensation expense	$	85	$	90

Restricted share unit activity

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

	Three months ended March 31,
	2016				2015
	Shares		Fair Value (1)		Shares		Fair Value (1)
Non-vested at beginning of period	7,169		$	77	8,381		$	63
Granted	849		99		957		97
Vested	(1,379	)	73		(1,714	)	59
Forfeited	(94	)	78		(49	)	64
Non-vested at end of period	6,545		81		7,575		69

 ______________________________________________

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

Performance-based plans

Information as of March 31, 2016 regarding the Company's target PSAs granted and shares that would be issued at current performance levels for PSAs granted during the three months ended March 31, 2016 and the years ended December 31, 2015 and 2014, respectively, is as follows (shares in thousands, dollars in millions, except fair value):

	2016		2015		2014
Target PSAs granted during period	773		993		816
Weighted average fair value per share at date of grant	$	101	$	96	$	81
Number of shares that would be issued based on current performance levels	773		970		1,570
Unamortized expense, based on current performance levels	$	78	$	57	$	33

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):

	Three months ended March 31,
	2016				2015
	Shares		Weighted- Average Exercise Price		Shares		Weighted- Average Exercise Price
Beginning outstanding	837		$	40	2,300		$	32
Granted	—		—		—		—
Exercised	(138	)	38		(1,293	)	26
Forfeited and expired	(4	)	41		(9	)	36
Outstanding at end of period	695		40		998		39
Exercisable at end of period	695		40		998		39

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 March 31,
	2016		2015
Aggregate intrinsic value of stock options exercised	$	8	$	94
Cash received from the exercise of stock options	5		34
Tax benefit realized from the exercise of stock options	2		34