Share-Based Compensation Plans (Tables)

12 Months Ended

Dec. 31, 2020

Share-based Payment Arrangement [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	2020		2019		2018
Restricted share units (“RSUs”)	$	186	$	198	$	186
Performance share awards (“PSAs”)	116		110		143
Employee share purchase plans	10		9		9
Total share-based compensation expense	312		317		338
Tax benefit	61		66		74
Share-based compensation expense, net of tax	$	251	$	251	$	264

Restricted Share Unit Activity

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

	2020			2019			2018
Years ended December 31	Shares	Fair Value at Date of Grant (1)		Shares	Fair Value at Date of Grant (1)		Shares	Fair Value at Date of Grant (1)
Non-vested at beginning of year	3,634	$	143	4,208	$	120	4,849	$	104
Granted	1,329	$	185	1,306	$	175	1,500	$	141
Vested	(1,426)	$	133	(1,661)	$	113	(1,943)	$	97
Forfeited	(228)	$	157	(219)	$	131	(198)	$	114
Non-vested at end of year	3,309	$	163	3,634	$	143	4,208	$	120

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

Schedule of Performance-based Plans Information

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 years ended December 31, 2020, 2019, and 2018, respectively (shares in thousands and dollars in millions, except fair value):

	2020		2019		2018
Target PSAs granted during period	500		467		564
Weighted average fair value per share at date of grant	$	161	$	165	$	134
Number of shares that would be issued based on current performance levels	495		784		830
Unamortized expense, based on current performance levels	$	58	$	41	$	—