Share-Based Compensation (Tables)

12 Months Ended

Dec. 31, 2011

Share-Based Compensation.

Components of share-based compensation expense

	Years Ended December 31,
	2011			2010		2009
	(in millions)
Stock options	$	43		$	41	$	53
Restricted stock awards		50	(1)		37		59
Restricted stock units		52			80		70
Liability awards		13			40		(4	)
Total	$	158		$	198	$	178

(1)

Includes $19 million of expense related to the Threadneedle equity incentive plan.

Weighted average assumptions used for stock option grants

	2011			2010			2009
Dividend yield		1.3	%		1.5	%		2.0	%
Expected volatility		44	%		50	%		55	%
Risk-free interest rate		2.3	%		2.3	%		1.8	%
Expected life of stock option (years)		5.0			5.0			5.0

Summary of stock option activity

	Shares			Weighted Average Exercise Price		Weighted Average Remaining Contractual Term (Years)		Aggregate Intrinsic Value
Outstanding at January 1		19.5		$	35.96		6.7	$	423
Granted		1.8			58.58
Exercised		(2.1	)		30.63
Forfeited		(0.3	)		30.75
Outstanding at December 31		18.9			38.85		5.3		241
Exercisable at December 31		12.1			40.56		5.0		132

Summary of restricted stock award activity

	Shares			Weighted Average Grant-date Fair Value
Non-vested shares at January 1		3.6		$	31.08
Granted		0.5			58.68
Vested		(1.0	)		40.36
Forfeited		(0.2	)		32.71
Non-vested shares at December 31		2.9			32.33