Employee Share-Based Incentive Compensation Plans (Tables)

12 Months Ended

Dec. 31, 2024

Share-Based Payment Arrangement [Abstract]

The following table presents performance share activity for the years ended December 31, 2024, 2023 and 2022 for performance shares granted under the WTM Incentive Plan:


	Year Ended December 31,
	2024			2023			2022
$ in Millions	Target Performance Shares Outstanding	Accrued Expense		Target Performance Shares Outstanding	Accrued Expense		Target Performance Shares Outstanding	Accrued Expense
Beginning of period	37,031	$	69.4	39,449	$	67.5	40,828	$	42.2
Shares paid or expired (1)	(13,475)	(44.9)		(13,350)	(40.8)		(14,625)	(26.4)
New grants	11,405	—		10,895	—		13,225	—
Forfeitures and cancellations (2)	(102)	—		37	(.1)		21	(.4)

Expense recognized	—	46.6		—	42.8		—	52.1
End of period	34,859	$	71.1	37,031	$	69.4	39,449	$	67.5

(1)WTM performance share payments in 2024 for the 2021-2023 performance cycle, which were paid in March 2024 at 188% of target.

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.

(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, 2024 for each performance cycle:


	December 31, 2024
$ in Millions	Target Performance Shares Outstanding	Accrued Expense
Performance cycle:
2024 – 2026	11,405	$	6.5
2023 – 2025	10,835	14.4
2022 – 2024	13,150	51.3
Sub-total	35,390	72.2
Assumed forfeitures	(531)	(1.1)
Total	34,859	$	71.1

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, 2024, 2023 and 2022:


	Year Ended December 31,
	2024			2023			2022
$ 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	37,595	$	16.2	38,350	$	15.5	37,850	$	15.9
Issued	11,405	20.0		10,895	16.0		13,225	13.8
Vested	(13,475)	—		(11,650)	—		(12,725)	—
Forfeited	(135)	—		—	—		—	—

Expense recognized	—	(16.3)		—	(15.3)		—	(14.2)
End of period	35,390	$	19.9	37,595	$	16.2	38,350	$	15.5