Share-Based Compensation Plans (Tables)

3 Months Ended

Mar. 31, 2013

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Share-based compensation expense recognized in continuing operations

The following table summarizes share-based compensation expense recognized in the Condensed Consolidated Statements of Income in Compensation and benefits (in millions):

	Three months ended March 31,
	2013		2012
Restricted stock units (“RSUs”)	$	55	$	49
Performance share awards (“PSAs”)	11		2
Stock options	1		2
Employee stock purchase plans	2		2
Total stock-based compensation expense	$	69	$	55

Restricted share unit activity

A summary of the status of the Company’s RSUs is as follows (shares in thousands):

	Three months ended March 31,
	2013				2012
	Shares		Fair Value (1)		Shares		Fair Value (1)
Non-vested at beginning of period	10,432		$	44	9,916		$	42
Granted	1,764		60		2,278		47
Vested	(2,080	)	46		(2,022	)	43
Forfeited	(128	)	44		(179	)	44
Non-vested at end of period	9,988		47		9,993		43

 ______________________________________________

(1) Represents per share weighted average fair value of award at date of grant

Performance-based plans

Information as of March 31, 2013 regarding the Company’s target PSAs granted and shares that would be issued at current performance levels for PSAs granted during the three months ended March 31, 2013 and the years ended December 31, 2012 and 2011, respectively, is as follows (shares in thousands, dollars in millions, except fair value):

	As of March 31, 2013		As of December 31, 2012		As of December 31, 2011
Target PSAs granted	1,135		1,369		1,715
Fair value (1)	$	58	$	47	$	50
Number of shares that would be issued based on current performance levels	1,135		1,720		1,118
Unamortized expense, based on current performance levels	$	65	$	51	$	15

 ______________________________________________

(1) Represents per share weighted average fair value of award at date of grant.

Share options and related information

A summary of the status of the Company’s share options and related information is as follows (shares in thousands):

	Three months ended March 31,
	2013				2012
	Shares		Weighted- Average Exercise Price		Shares		Weighted- Average Exercise Price
Beginning outstanding	5,611		$	32	9,116		$	32
Granted	—		—		—		—
Exercised	(610	)	31		(1,032	)	35
Forfeited and expired	(10	)	33		(12	)	40
Outstanding at end of period	4,991		32		8,072		31
Exercisable at end of period	4,579		32		7,173		30

Other information related to the company's share options

Other information related to the Company’s share options is as follows (in millions):

	Three months ended March 31,
	2013		2012
Aggregate intrinsic value of stock options exercised	$	17	$	13
Cash received from the exercise of stock options	20		37
Tax benefit realized from the exercise of stock options	3		1