Share-Based Compensation Plans (Tables)

9 Months Ended

Sep. 30, 2019

Share-based Payment Arrangement [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
	2019		2018		2019		2018
Restricted share units (“RSUs”)	$	42	$	41	$	155	$	145
Performance share awards (“PSAs”)	28		24		90		63
Employee share purchase plans	2		2		7		6
Total share-based compensation expense	$	72	$	67	$	252	$	214

Restricted share unit activity

The following table summarizes the status of the Company’s RSUs, including shares related to the Divested Business (shares in thousands, except fair value):

	Nine Months Ended September 30, 2019				Nine Months Ended September 30, 2018
	Shares		Fair Value (1)		Shares		Fair Value (1)
Non-vested at beginning of period	4,208		$	120	4,849		$	104
Granted	1,225		$	174	1,409		$	140
Vested	(1,551	)	$	112	(1,772	)	$	97
Forfeited	(164	)	$	128	(158	)	$	111
Non-vested at end of period	3,718		$	141	4,328		$	118

(1)

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

Performance-based plans

The following table summarizes 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, 2019 and the years ended December 31, 2018 and 2017, respectively (shares in thousands and dollars in millions, except fair value):

	September 30, 2019		December 31, 2018		December 31, 2017
Target PSAs granted during period	467		564		548
Weighted average fair value per share at date of grant	$	164	$	134	$	114
Number of shares that would be issued based on current performance levels	458		958		1,057
Unamortized expense, based on current performance levels	$	61	$	54	$	10