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SHARE-BASED COMPENSATION
 9 Months Ended
Sep. 30, 2019
Share-based Payment Arrangement [Abstract]  
SHARE-BASED COMPENSATION
For the three months ended September 30, 2019, the Company incurred share-based compensation costs of $12 million (2018: $15 million) related to share-settled restricted stock units and cash-settled restricted stock units. In addition, the Company recorded associated tax benefits of $2 million (2018: $3 million).

For the nine months ended September 30, 2019, the Company incurred share-based compensation costs of $41 million (2018: $45 million) and recorded associated tax benefits of $7 million (2018: $6 million).

During the nine months ended September 30, 2019, the fair value of share-settled restricted stock units and cash-settled restricted stock units that vested was $49 million (2018: $47 million). At September 30, 2019, there was $90 million of unrecognized share-based compensation costs (2018: $106 million) which are expected to be recognized over the weighted average period of 2.5 years (2018: 2.6 years).

Share-Settled Awards

The following table provides an activity summary of the Company's share-settled restricted stock units for the nine months ended September 30, 2019:
 
 
Share-Settled Performance Vesting Restricted Stock Units
 
Share-Settled Service Based Restricted Stock Units
 
 
 
Number of
restricted
stock units
 
Weighted 
average
grant date
fair value(1)
 
Number of
restricted
stock units
 
Weighted  average
grant date
fair value(1)
 
 
 
 
 
 
 
 
 
 
 
 
Nonvested restricted stock units - beginning of period
232

 
$
54.54

 
1,411

 
$
54.12

 
 
     Granted
127

 
54.70

 
522

 
54.88

 
 
     Vested
(61
)
 
53.82

 
(465
)
 
54.20

 
 
     Forfeited
(40
)
 
64.01

 
(158
)
 
54.54

 
 
Nonvested restricted stock units - end of period
258

 
$
53.31

 
1,310

 
$
54.34

 
 
 
 
 
 
 
 
 
 
 

(1) Fair value is based on the closing price of the Company's common shares on the grant date.

Cash-Settled awards

The following table provides an activity summary of the Company's cash-settled restricted stock units for the nine months ended September 30, 2019:
 
 
Cash-Settled Performance Vesting Restricted Stock Units
 
Cash-Settled Service Based Restricted Stock Units
 
 
 
Number of
restricted
stock units
 
Number of
restricted
stock units
 
 
 
 
 
 
 
 
Nonvested restricted stock units - beginning of period
27

 
932

 
 
     Granted
—

 
363

 
 
     Vested
(12
)
 
(328
)
 
 
     Forfeited
(9
)
 
(94
)
 
 
Nonvested restricted stock units - end of period
6

 
873

 
 
 
 
 
 
 


At September 30, 2019, the liability for cash-settled restricted stock units, included in other liabilities in the consolidated balance sheets, was $19 million (2018: $19 million).