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Share-Based Compensation
9 Months Ended
Sep. 30, 2017
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
SHARE-BASED COMPENSATION
SHARE-BASED COMPENSATION
The company recognized total expenses of $134.9 million and $118.4 million related to equity-settled share-based payment transactions in the nine months ended September 30, 2017 and 2016, respectively.
Share Awards
Movements on share awards during the periods ended September 30, are detailed below:
 
For the nine months ended September 30, 2017
 
For the nine months ended September 30, 2016
Millions of shares, except fair values
Time- Vested
 
Performance- Vested
 
Weighted Average Grant Date Fair Value ($)
 
Time- Vested
 
Performance- Vested
Unvested at the beginning of period
12.1

 
0.8

 
31.22

 
10.4

 
0.6

Granted during the period
5.3

 
0.3

 
32.21

 
6.4

 
0.4

Forfeited during the period
(0.4
)
 

 
31.50

 
(0.2
)
 

Vested and distributed during the period
(4.8
)
 
(0.2
)
 
31.37

 
(4.2
)
 
(0.2
)
Unvested at the end of the period
12.2

 
0.9

 
31.57

 
12.4

 
0.8



The total fair value of shares that vested during the nine months ended September 30, 2017 was $158.0 million (nine months ended September 30, 2016: $120.4 million). The weighted average grant date fair value of the share awards that were granted during the nine months ended September 30, 2017 was $32.21 (nine months ended September 30, 2016: $27.40).
At September 30, 2017, there was $301.8 million of total unrecognized compensation cost related to non-vested share awards; that cost is expected to be recognized over a weighted average period of 2.56 years.