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SHARE-BASED COMPENSATION | 6 Months Ended
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Jun. 30, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] |
SHARE-BASED COMPENSATION | For the three months ended June 30, 2016, we incurred share-based compensation costs of $19 million (2015: $10 million) and recorded associated tax benefits of $5 million (2015: $4 million). For the six months ended June 30, 2016, we incurred share-based compensation costs of $36 million (2015: $29 million) and recorded associated tax benefits of $8 million (2015: $8 million). The total fair value of restricted stock, restricted stock units and cash settled awards vested during the six months ended June 30, 2016 was $62 million (2015: $71 million). At June 30, 2016 there were $122 million of unrecognized compensation costs, which are expected to be recognized over the weighted average period of 2.6 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 six months ended June 30, 2016:
|  | 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(1) |
| Nonvested restricted stock - beginning of period | 201 |  |  | $ | 49.24 |  |  | 1,954 |  |  | $ | 43.34 |  |
| Granted | 104 |  |  | 53.80 |  |  | 584 |  |  | 53.84 |  |
| Vested | (16 | ) |  | 44.33 |  |  | (774 | ) |  | 39.21 |  |
| Forfeited | — |  |  | — |  |  | (40 | ) |  | 46.51 |  |
| Nonvested restricted stock - end of period | 289 |  |  | $ | 51.14 |  |  | 1,724 |  |  | $ | 48.69 |  |
(1) Fair value is based on the closing price of our common shares on the New York Stock Exchange on the day of the grant. Cash-settled awards The following table provides a reconciliation of the beginning and ending balance of nonvested cash settled restricted stock units for the six months ended June 30, 2016:
|  | Performance-based Cash Settled RSUs |  | Service-based Cash Settled RSUs |
|  | Number of Restricted Stock Units |  | Number of Restricted Stock Units |
| Nonvested restricted stock units - beginning of period | 70 |  |  | 1,433 |  |
| Granted | 18 |  |  | 491 |  |
| Vested | — |  |  | (366 | ) |
| Forfeited | — |  |  | (40 | ) |
| Nonvested restricted stock units - end of period | 88 |  |  | 1,518 |  |
At June 30, 2016, the corresponding liability for cash-settled units, included in other liabilities on the Consolidated Balance Sheets, was $30 million (2015: $20 million).

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- 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 40 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6418621&loc=d3e17540-113929 Reference 2: 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=51659978&loc=d3e25284-112666 Reference 3: 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 4: 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 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
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