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SHARE-BASED COMPENSATION
 3 Months Ended
Mar. 31, 2019
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
SHARE-BASED COMPENSATION
For the three months ended March 31, 2019, the Company incurred share-based compensation costs of $15 million (2018: $16 million) related to share-settled restricted stock units and cash-settled restricted stock units. In addition, the Company recorded associated tax benefits of $2 million (2018: $2 million).

During the three months ended March 31, 2019, the fair value of share-settled restricted stock units and cash-settled restricted stock units that vested was $48 million (2018: $42 million). At March 31, 2019 there was $121 million of unrecognized share-based compensation costs (2018: $137 million) which are expected to be recognized over the weighted average period of 2.9 years (2018 3.0 years).

Share-Settled Awards

The following table provides an activity summary of the Company's share-settled restricted stock units for the three months ended March 31, 2019:
 
 
Share-Settled Performance Vesting Restricted Stock Units
 
Share-Settled Service Based Restricted Stock Units
 
 
 
Number of
restricted
stock units
 
Weighted 
average
grant date
fair value(1)
 
Number of
restricted
stock units
 
Weighted  average
grant date
fair value(1)
 
 
 
 
 
 
 
 
 
 
 
 
Nonvested restricted stock units - beginning of period
232

 
$
54.54

 
1,411

 
$
54.12

 
 
     Granted
127

 
54.70

 
508

 
54.67

 
 
     Vested
(61
)
 
53.82

 
(445
)
 
54.04

 
 
     Forfeited
—

 
—

 
(74
)
 
54.84

 
 
Nonvested restricted stock units - end of period
298

 
$
54.76

 
1,400

 
$
54.31

 
 
 
 
 
 
 
 
 
 
 

(1) Fair value is based on the closing price of the Company's common shares on the grant date.

Cash-Settled awards

The following table provides an activity summary of the Company's cash-settled restricted stock units for the three months ended March 31, 2019:
 
 
Cash-Settled Performance Vesting Restricted Stock Units
 
Cash-Settled Service Based Restricted Stock Units
 
 
 
Number of
restricted
stock units
 
Number of
restricted
stock units
 
 
 
 
 
 
 
 
Nonvested restricted stock units - beginning of period
27

 
932

 
 
     Granted
—

 
349

 
 
     Vested
(12
)
 
(320
)
 
 
     Forfeited
—

 
(35
)
 
 
Nonvested restricted stock units - end of period
15

 
926

 
 
 
 
 
 
 


At March 31, 2019, the liability for cash-settled restricted stock units, included in other liabilities in the consolidated balance sheet, was $8 million (2018: $9 million).