Preferred Shares (Tables)

9 Months Ended

Sep. 30, 2021

Equity [Abstract]

Summary of preferred shares issued and outstanding

The following table summarizes our preferred shares issued and outstanding as of September 30, 2021:

	Series B	Series D
Issuance Date	November 10, 2014	August 3, 2021
Securities issued	750 Preferred shares; represented by 750,000 depositary shares	1,600 Preferred shares; represented by 1,600,000 depositary shares
Dividend rate per annum	5.20% through November 14, 2019; 3-month LIBOR plus 3.428% thereafter	3.55% through September 14, 2026; resets September 15, 2026 and every subsequent 5-year anniversary at 5-year Treasury rate plus 2.854%
Dividend payment date	Semi-annual beginning May 15, 2015 and, quarterly beginning February 15, 2020	Quarterly beginning September 15, 2021
Earliest redemption date	November 15, 2019	September 15, 2026
Aggregate liquidation preference	$750 million	$1,600 million
Carrying value (a)	$742 million	$1,584 million

(a)Carrying value, presented in the Statements of Shareholders' Equity, represents the issuance proceeds, net of underwriting fees and offering costs.