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Share-Based Compensation
 3 Months Ended
Mar. 31, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
SHARE-BASED COMPENSATION
SHARE-BASED COMPENSATION
The company recognized total expenses of $38.7 million and $40.7 million related to equity-settled share-based payment transactions in the three months ended March 31, 2016 and March 31, 2015, respectively.
The company has not granted share option awards under share-based compensation arrangements since 2005. The awards had a ten-year life; all share options expired at December 31, 2015. Cash received from exercise of share options in the three months ended March 31, 2015 was $0.7 million.
Share Awards
Movements on share awards during the periods ended March 31, are detailed below:
 
For the three months ended March 31, 2015
 
For the three months ended March 31, 2015
Millions of shares, except fair values
Time- Vested
 
Performance- Vested
 
Weighted Average Grant Date Fair Value ($)
 
Time- Vested
 
Performance- Vested
Unvested at the beginning of period
10.4

 
0.6

 
33.62

 
11.5

 
0.5

Granted during the period
6.2

 
0.4

 
27.30

 
3.9

 
0.3

Vested and distributed during the period
(4.1
)
 
(0.2
)
 
31.43

 
(4.3
)
 
(0.2
)
Unvested at the end of the period
12.5

 
0.8

 
31.20

 
11.1

 
0.6



Share awards outstanding at March 31, 2016, had a weighted average remaining contractual life of 1.98 years. The total fair value of shares that vested during the three months ended March 31, 2016 was $115.8 million (three months ended March 31, 2015: $172.1 million). The weighted average grant date fair value of the U.S. Dollar share awards that were granted during the three months ended March 31, 2016 was $27.30 (three months ended March 31, 2015: $40.26).
At March 31, 2016, there was $394.2 million of total unrecognized compensation cost related to non-vested share awards; that cost is expected to be recognized over a weighted average period of 2.96 years.