Share-Based Compensation Plans (Tables)

9 Months Ended

Sep. 30, 2022

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 September 30,				Nine Months Ended September 30,
	2022		2021		2022		2021
Restricted share units	$	54	$	46	$	196	$	156
Performance share awards	35		36		98		136
Employee share purchase plans and other (1)	4		48		10		54
Total share-based compensation expense	$	93	$	130	$	304	$	346

(1)The three and nine months ended September 30, 2021 include expenses related to the Aon United Growth Ownership Plan.

Schedule of Restricted Share Unit Activity

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

	Nine Months Ended September 30,
	2022			2021
	Shares	Fair Value (1)		Shares	Fair Value (1)
Non-vested at beginning of period	3,075	$	203	3,309	$	163
Granted	1,058	$	278	1,164	$	250
Vested	(1,067)	$	186	(1,147)	$	151
Forfeited	(152)	$	218	(166)	$	176
Non-vested at end of period	2,914	$	235	3,160	$	199

(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 nine months ended September 30, 2022 and the years ended December 31, 2021 and 2020, respectively (shares in thousands and dollars in millions, except fair value per share):

	September 30, 2022		December 31, 2021		December 31, 2020
Target PSAs granted during period	300		382		500
Weighted average fair value per share at date of grant	$	311	$	225	$	163
Number of shares that would be issued based on current performance levels	299		726		958
Unamortized expense, based on current performance levels	$	76	$	75	$	13