Share-Based Compensation

6 Months Ended

Jun. 30, 2012

Share-Based Compensation

3. Share-Based Compensation

The Company recognized $11 million and $25 million of share-based compensation expense during the three and six months ended June 30, 2012, respectively, and $9 million and $21 million of share-based compensation expense during the three and six months ended June 30, 2011, respectively. The Company’s annual grant of share-based awards generally occurs in the first quarter. During the six months ended June 30, 2012, the Company granted 1.0 million stock options and 0.4 million restricted stock units at weighted-average estimated fair values of $21.58 and $65.33, respectively. During the six months ended June 30, 2011, the Company granted 1.0 million stock options and 0.3 million restricted stock units at weighted-average estimated fair values of $22.69 and $61.74, respectively. During the six months ended June 30, 2012 and 2011, stock options to purchase 1.0 million shares and 1.1 million shares, respectively, were exercised.