XML 31 R14.htm IDEA: XBRL DOCUMENT v2.3.0.15
SHARE-BASED COMPENSATION
9 Months Ended
Sep. 30, 2011
SHARE-BASED COMPENSATION [ABSTRACT] 
SHARE-BASED COMPENSATION

7.       SHARE-BASED COMPENSATION

Restricted Stock       
         
The following table provides a reconciliation of the beginning and ending balance of nonvested restricted stock (including restricted stock units) for the nine months ended September 30, 2011:
         
    Number of Weighted Average 
    Restricted Grant Date 
    Stock Fair Value 
         
 Nonvested restricted stock - beginning of period  3,882 $ 31.95 
 Granted  1,783   36.29 
 Vested  (1,811)   34.81 
 Forfeited  (83)   29.51 
  Nonvested restricted stock - end of period 3,771 $ 32.71 
         

For the three months ended September 30, 2011, we incurred share-based compensation costs of $10 million (2010: $8 million) and recorded tax benefits thereon of $1 million (2010: $2 million). For the nine months ended September 30, 2011, we incurred share-based compensation costs of $30 million (2010: $27 million) and recorded tax benefits thereon of $5 million (2010: $5 million). The total grant-date fair value of shares vested during the nine months ended September 30, 2011 was $65 million (2010: $61 million). At September 30, 2011 there were $94 million of unrecognized share-based compensation costs, which are expected to be recognized over the weighted average period of 2.6 years.

 

Options

 

During the nine months ended September 30, 2011, 642,112 options (2010: 413,334) were exercised with a total intrinsic value of $9 million (2010: $3 million). At September 30, 2011, 1,675,584 stock options remained outstanding and exercisable, with a weighted average exercise price of $24.67, a weighted average remaining contractual term of 2.34 years and an aggregate intrinsic value of $6 million.