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SHARE-BASED AND OTHER COMPENSATION PROGRAMS (Tables)
 12 Months Ended
Dec. 31, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Schedule of compensation costs
Compensations costs for 2015, 2014 and 2013 for share-based payment arrangements as further described herein are as follows:
 
2015
 
2014
 
2013
 
(In Millions)
Performance Units/Shares
$
18

 
$
10

 
$
43

Stock Options
1

 
1

 
2

AXA Shareplan
16

 
10

 
13

AB Stock Options
—

 
—

 
(4
)
AB Restricted Units
174

 
171

 
286

Other Compensation plans(1)
2

 
—

 
—

Total Compensation Expenses
$
211

 
$
192

 
$
340



(1)
Other compensation plans include Stock Appreciation Rights, Restricted Stock and AXA Miles.
Summary of stock option activity
A summary of the activity in the AXA, AXA Financial and AB option plans during 2015 follows:

 
Options Outstanding
 
AXA Ordinary Shares
 
AXA ADRs(3)
 
AB Holding Units
 
Number
Outstanding  
(In 000’s)
 
Weighted
Average
Exercise
Price
 
Number
Outstanding
(In 000’s)
 
Weighted
Average
Exercise
Price
 
Number
Outstanding
(In 000’s)
 
Weighted
Average
Exercise
Price
Options Exercisable at January 1, 2015
16,837.9

 
€
21.39

 
1,105.2

 
$
25.53

 
5,942.4

 
$
45.03

Options granted
444.0

 
€
22.90

 
—

 
$
—

 
29.1

 
$
31.74

Options exercised
(4,196.7
)
 
€
18.26

 
(510.7
)
 
$
25.33

 
(541.1
)
 
$
17.06

Options forfeited, net
(483.1
)
 
€
22.75

 
(553.5
)
 
$
25.59

 
(23.1
)
 
$
89.95

Options expired/reinstated
—

 
—

 
—

 
—

 
(8.8
)
 
$
45.45

Options Outstanding at December 31, 2015
12,602.1

 
€
21.39

 
41.0

 
$
27.28

 
5,398.5

 
$
47.59

Aggregate Intrinsic
Value(1)
 
 
—

(2) 
 
 
$
245.3

 
 
 
—

Weighted Average Remaining Contractual Term (in years)
3.0

 
 
 
2.36

 
 
 
2.90

 
 
Options Exercisable at December 31, 2015
10,074.6

 
€
22.50

 
40.9

 
$
27.28

 
4,736.7

 
43.04

Aggregate Intrinsic
Value(1)
 
 
—

 
 
 
$
245.3

 
 
 
—

Weighted Average Remaining Contractual Term (in years)
2.48

 
 
 
2.36

 
 
 
2.90

 
 

(1)
Aggregate intrinsic value, presented in millions, is calculated as the excess of the closing market price on December 31, 2015 of the respective underlying shares over the strike prices of the option awards.
(2)
The aggregate intrinsic value on options outstanding, exercisable and expected to vest is negative and is therefore presented as zero.
(3)
AXA ordinary shares will be delivered to participants in lieu of AXA ADRs at exercise or maturity.
Schedule of share-based payment award, valuation assumptions
Shown below are the relevant input assumptions used to derive the fair values of options awarded in 2015, 2014 and 2013, respectively.
 
AXA Ordinary Shares
 
AB Holding Units
 
2015
 
2014
 
2013
 
2015
 
2014
 
2013
Dividend yield
6.29
%
 
6.38
%
 
7.52
%
 
7.1
%
 
8.4
%
 
8.0-8.3 %

Expected volatility
23.68
%
 
29.24
%
 
31.27
%
 
32.1
%
 
48.9
%
 
49.7-49.8 %

Risk-free interest rates
0.92
%
 
1.54
%
 
1.34
%
 
1.5
%
 
1.5
%
 
0.8-1.7%

Expected life in years
8.2

 
8.2

 
7.7

 
6.0

 
6.0

 
6.0

Weighted average fair value per option at grant date
$
1.73

 
$
2.89

 
$
1.79

 
$
4.13

 
$
4.78

 
$
5.44
Schedule of share-based compensation, restricted stock units award activity
The following table summarizes restricted AXA ordinary share activity for 2015. In addition, approximately 44,333 RSUs were granted during 2015 with graded vesting over a 3-year service period.
 
Shares of
Restricted      
Stock
 
Weighted
Average
Grant Date    
Fair Value
Unvested as of January 1, 2015
51,460

 
$
15.37

Granted
10,578

 
$
23.25

Vested
28,028

 
$
14.63

Unvested as of December 31, 2015
34,010

 
$
18.43