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SHARE-BASED COMPENSATION
 3 Months Ended
Mar. 31, 2014
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
SHARE-BASED COMPENSATION [Text Block]
For the three months ended March 31, 2014, we incurred share-based compensation costs of $17 million (2013: $14 million) and recorded associated tax benefits of $3 million (2013: $2 million).

The fair value of shares vested during the three months ended March 31, 2014 was $61 million (2013: $59 million). At March 31, 2014 there were $168 million of unrecognized share-based compensation costs, which are expected to be recognized over the weighted average period of 2.8 years.

Awards to settle in shares

The following table provides a reconciliation of the beginning and ending balance of nonvested restricted stock (including restricted stock units) for the three months ended March 31, 2014:
 
 
Performance-based Stock Awards
 
Service-based Stock Awards
 
 
 
Number of
Restricted
Stock
 
Weighted Average
Grant Date
Fair Value
 
Number of
Restricted
Stock
 
Weighted Average
Grant Date
Fair Value
 
 
 
 
 
 
 
 
 
 
 
 
Nonvested restricted stock - beginning of period
283

 
$
35.74

 
3,430

 
$
34.72

 
 
     Granted
68

 
44.33

 
988

 
44.34

 
 
     Vested
—

 
—

 
(1,230
)
 
33.68

 
 
     Forfeited
—

 
—

 
(60
)
 
35.41

 
 
Nonvested restricted stock - end of period
351

 
$
37.41

 
3,128

 
$
38.03

 
 
 
 
 
 
 
 
 
 
 


Cash-settled awards

During 2014 we also granted 952,543 restricted stock units that will settle in cash rather than shares when the awards ultimately vest; of which 22,837 restricted stock units are performance based and 929,706 restricted stock units are service based. At March 31, 2014, the corresponding liability for cash-settled units, included in other liabilities on the Consolidated Balance Sheet, was $5 million (2013: $1 million).