Employee Share-Based Incentive Compensation Plans (Tables)

12 Months Ended

Dec. 31, 2023

Share-Based Payment Arrangement [Abstract]

The following table presents performance share activity for the years ended December 31, 2023, 2022 and 2021 for performance shares granted under the WTM Incentive Plan:


	Year Ended December 31,
	2023			2022			2021
$ in Millions	Target Performance Shares Outstanding	Accrued Expense		Target Performance Shares Outstanding	Accrued Expense		Target Performance Shares Outstanding	Accrued Expense
Beginning of period	39,449	$	67.5	40,828	$	42.2	42,458	$	56.3
Shares paid or expired (1)	(13,350)	(40.8)		(14,625)	(26.4)		(14,336)	(35.2)
New grants	10,895	—		13,225	—		13,475	—
Forfeitures and cancellations (2)	37	(.1)		21	(.4)		(769)	.4

Expense recognized	—	42.8		—	52.1		—	20.7
End of period	37,031	$	69.4	39,449	$	67.5	40,828	$	42.2

(1)WTM performance share payments in 2023 for the 2020-2022 performance cycle, which were paid in March 2023 at 200% of target.

WTM performance share payments in 2022 for the 2019-2021 performance cycle, which were paid in March 2022 at 172% of target.

WTM performance share payments in 2021 for the 2018-2020 performance cycle, which were paid in March 2021 at 200% of target.

(2)Amounts include changes in assumed forfeitures, as required under GAAP.

Schedule of performance shares outstanding and accrued expense for performance shares awarded

The following table presents performance shares outstanding and accrued expense for performance shares awarded under the WTM Incentive Plan as of December 31, 2023 for each performance cycle:


	December 31, 2023
$ in Millions	Target Performance Shares Outstanding	Accrued Expense
Performance cycle:
2023 – 2025	10,895	$	6.0
2022 – 2024	13,225	25.8
2021 – 2023	13,475	38.7
Sub-total	37,595	70.5
Assumed forfeitures	(564)	(1.1)
Total	37,031	$	69.4

Schedule of unrecognized compensation costs associated with outstanding restricted share awards

The following table presents the unrecognized compensation cost associated with the outstanding restricted share awards under the WTM Incentive Plan for the years ended December 31, 2023, 2022 and 2021:


	Year Ended December 31,
	2023			2022			2021
$ in Millions	Restricted Shares	Unamortized Issue Date Fair Value		Restricted Shares	Unamortized Issue Date Fair Value		Restricted Shares	Unamortized Issue Date Fair Value
Non-vested:
Beginning of period	38,350	$	15.5	37,850	$	15.9	43,105	$	15.2
Issued	10,895	16.0		13,225	13.8		13,475	16.1
Vested	(11,650)	—		(12,725)	—		(17,936)	—
Forfeited	—	—		—	—		(794)	(.8)

Expense recognized	—	(15.3)		—	(14.2)		—	(14.6)
End of period	37,595	$	16.2	38,350	$	15.5	37,850	$	15.9