XML 93 R20.htm IDEA: XBRL DOCUMENT
v2.4.0.8

Share-Based Compensation Plans | 9 Months Ended
--- | ---
Sep. 30, 2014
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] |
Share-Based Compensation Plans | Share-Based Compensation Plans 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,
| 2014 |  | 2013 |  | 2014 |  | 2013
Restricted share units ("RSUs") | $ | 41 |  |  | $ | 40 |  |  | $ | 144 |  |  | $ | 135 |
Performance share awards ("PSAs") | 29 |  |  | 28 |  |  | 96 |  |  | 66 |
Share options | — |  |  | — |  |  | — |  |  | 1 |
Employee share purchase plans | 2 |  |  | 2 |  |  | 7 |  |  | 5 |
Total share-based compensation expense | $ | 72 |  |  | $ | 70 |  |  | $ | 247 |  |  | $ | 207 |
Restricted Share Units A summary of the status of the Company's RSUs is as follows (shares in thousands):
| Nine months ended September 30,
| 2014 |  | 2013
| Shares |  | Fair Value (1) |  | Shares |  | Fair Value (1)
Non-vested at beginning of period | 9,759 |  |  | $ | 51 |  |  | 10,432 |  |  | $ | 44 |
Granted | 2,675 |  |  | 84 |  |  | 3,598 |  |  | 62 |
Vested | (3,561 | ) |  | 49 |  |  | (3,618 | ) |  | 44 |
Forfeited | (385 | ) |  | 56 |  |  | (308 | ) |  | 47 |
Non-vested at end of period | 8,488 |  |  | 63 |  |  | 10,104 |  |  | 51 |
______________________________________________
(1) | Represents per share weighted average fair value of award at date of grant.
Performance Share Awards The vesting of PSAs is contingent upon meeting a level of earnings per share performance over a three-year period. The performance conditions are not considered in the determination of the grant date fair value for these awards. The fair value of PSAs is based upon the market price of an Aon ordinary share at the date of grant. Compensation expense is recognized over the performance period based on management's estimate of the number of units expected to vest. Compensation expense is adjusted to reflect the actual number of shares issued at the end of the programs. The actual issue of shares may range from 0-200% of the target number of PSAs granted, based on the terms of the plan and level of achievement of the related performance target. Dividend equivalents are not paid on PSAs. Information as of September 30, 2014 regarding 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, 2014 and the years ended December 31, 2013 and 2012, respectively, is as follows (shares in thousands, dollars in millions, except fair value):
| As of September 30, 2014 |  | As of December 31, 2013 |  | As of December 31, 2012
Target PSAs granted | 816 |  |  | 1,135 |  |  | 1,369 |
Fair value (1) | $ | 81 |  |  | $ | 58 |  |  | $ | 47 |
Number of shares that would be issued based on current performance levels | 804 |  |  | 2,211 |  |  | 2,656 |
Unamortized expense, based on current performance levels | $ | 52 |  |  | $ | 57 |  |  | $ | 11 |
______________________________________________
(1) | Represents per share weighted average fair value of award at date of grant.
Share Options The Company did not grant any share options during either the nine months ended September 30, 2014 or 2013. A summary of the status of the Company's share options and related information is as follows (shares in thousands):
| Nine months ended September 30,
| 2014 |  | 2013
| Shares |  | Weighted- Average Exercise Price |  | Shares |  | Weighted- Average Exercise Price
Beginning outstanding | 3,462 |  |  | $ | 32 |  |  | 5,611 |  |  | $ | 32 |
Granted | — |  |  | — |  |  | — |  |  | — |
Exercised | (953 | ) |  | 32 |  |  | (1,694 | ) |  | 32 |
Forfeited and expired | (6 | ) |  | 37 |  |  | (29 | ) |  | 34 |
Outstanding at end of period | 2,503 |  |  | 32 |  |  | 3,888 |  |  | 32 |
Exercisable at end of period | 2,464 |  |  | 32 |  |  | 3,681 |  |  | 32 |
The weighted average remaining contractual life, in years, of outstanding options was 1.7 years and 2.2 years at September 30, 2014 and 2013, respectively. The aggregate intrinsic value represents the total pretax intrinsic value, based on options with an exercise price less than the Company's closing share price of $87.67 as of September 30, 2014, which would have been received by the option holders had those option holders exercised their options as of that date. At September 30, 2014, the aggregate intrinsic value of options outstanding was $138 million, of which $137 million was exercisable. Other information related to the Company's share options is as follows (in millions):
| Three months ended September 30, |  | Nine months ended September 30,
| 2014 |  | 2013 |  | 2014 |  | 2013
Aggregate intrinsic value of stock options exercised | $ | 6 |  |  | $ | 14 |  |  | $ | 51 |  |  | $ | 53 |
Cash received from the exercise of stock options | 3 |  |  | 14 |  |  | 30 |  |  | 55 |
Tax benefit realized from the exercise of stock options | 2 |  |  | 3 |  |  | 14 |  |  | 10 |
Unamortized deferred compensation expense, which includes both options and awards, amounted to $395 million as of September 30, 2014, with a remaining weighted-average amortization period of approximately 2.1 years.

X
- Details
Name: | us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for compensation-related costs for equity-based compensation, which may include disclosure of policies, compensation plan details, allocation of equity compensation, incentive distributions, equity-based arrangements to obtain goods and services, deferred compensation arrangements, employee stock ownership plan details and employee stock purchase plan details. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5047-113901 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 50 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6406099&loc=d3e25284-112666 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 40 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6418621&loc=d3e17540-113929 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5444-113901 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Staff Accounting Bulletin (SAB) -Number Topic 14 + Details
Name: | us-gaap_DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration