Share-Based Compensation Plans (Tables)

3 Months Ended

Mar. 31, 2021

Share-based Payment Arrangement [Abstract]

Schedule of 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,
	2021		2020
Restricted share units (“RSUs”)	$	66	$	58
Performance share awards (“PSAs”)	61		14
Employee share purchase plans	4		4
Total share-based compensation expense	$	131	$	76

Schedule of Restricted Share Unit Activity

The following table summarizes the status of the Company’s RSUs (shares in thousands, except fair value):

	Three Months Ended March 31,
	2021			2020
	Shares	Fair Value (1)		Shares	Fair Value (1)
Non-vested at beginning of period	3,309	$	163	3,634	$	143
Granted	372	$	226	432	$	179
Vested	(452)	$	160	(583)	$	141
Forfeited	(70)	$	166	(79)	$	146
Non-vested at end of period	3,159	$	171	3,404	$	147

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

Schedule of Performance Share Awards

The following table summarizes 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, 2021 and the years ended December 31, 2020 and 2019, respectively (shares in thousands and dollars in millions, except fair value):

	March 31, 2021		December 31, 2020		December 31, 2019
Target PSAs granted during period	331		500		467
Weighted average fair value per share at date of grant	$	220	$	161	$	165
Number of shares that would be issued based on current performance levels	331		988		895
Unamortized expense, based on current performance levels	$	72	$	101	$	35