Share-Based Compensation (Tables)

12 Months Ended

Dec. 31, 2012

Share-Based Compensation

Components of share-based compensation expense, net of forfeitures

	Years Ended December 31,
	2012			2011			2010
	(in millions)
Stock options	$	40		$	43		$	41
Restricted stock awards		40	(1)		50	(1)		37
Restricted stock units		54			52			80
Liability awards		14			13			40
Total	$	148		$	158		$	198

(1)

Includes $11 million and $19 million of expense related to the Threadneedle equity incentive plan for the years ended December 31, 2012 and 2011, respectively.

Weighted average assumptions used for stock option grants

	2012			2011			2010
Dividend yield		2.0	%		1.3	%		1.5	%
Expected volatility		45	%		44	%		50	%
Risk-free interest rate		0.8	%		2.3	%		2.3	%
Expected life of stock option (years)		5.0			5.0			5.0

Summary of stock option activity

A summary of the Company's stock option activity for 2012 is presented below (shares and intrinsic value in millions):

	Shares			Weighted Average Exercise Price		Weighted Average Remaining Contractual Term (Years)		Aggregate Intrinsic Value
Outstanding at January 1		18.9		$	38.85		5.3	$	241
Granted		1.9			54.37
Exercised		(5.4	)		30.03
Forfeited		(0.4	)		42.71
Outstanding at December 31		15.0			43.91		5.9		281
Exercisable at December 31		10.3			42.61		4.9		207

Summary of restricted stock award activity

A summary of the Company's restricted stock award activity for 2012 is presented below (shares in millions):

	Shares			Weighted Average Grant-date Fair Value
Non-vested shares at January 1		2.9		$	32.33
Granted		0.4			54.28
Vested		(0.8	)		35.92
Forfeited		(0.2	)		34.18
Non-vested shares at December 31		2.3			35.07