XML 53 R28.htm IDEA: XBRL DOCUMENT

Share Capital (Tables)

3 Months Ended

Mar. 31, 2021

Movements In Shares Issued And Outstanding

The number of preferred shares issued and outstanding is represented in the table below:


	As of
in millions	March 31, 2021	December 31, 2020
Preferred shares issued (1)	4.0	4.0

Preferred shares outstanding (1)	4.0	4.0

__________

(1) Preferred shares are held by MassMutual and are subject to a lock-up period of five years, which disallows the sale of preferred shares by MassMutual during the five-year period beginning on the original issue date of May 24, 2019.

The number of common shares and common share equivalents issued are represented in the table below:


	As of
in millions	March 31, 2021	December 31, 2020


Common shares issued	566.1	566.1
Less: Treasury shares for which dividend and voting rights do not apply	(104.6)	(107.0)
Common shares outstanding (2)	461.5	459.1

__________

(2)Common shares outstanding includes 75.6 million common shares held by MassMutual that are subject to a two-year lock-up period, which disallows the sale of common shares by MassMutual during the two-year period beginning on the original issue date of May 24, 2019.

Schedule of Forward Contracts Indexed to Issuer's Equity

The details of the unsettled forward contracts as of March 31, 2021 and December 31, 2020 are as follows:


in millions, except strike and forward prices	March 31, 2021
	Common Shares Purchased	Initial Strike Price		Forward Price		Hedge Completion Date	Value of Total Treasury Shares Recorded		Settlement Date	Total Liability Recorded

$200 million - entered on July 2, 2019	10.0	$	20.00	$	12.00	07/30/2019	$	193.7	04/01/2021	$	120.0
$100 million - entered on August 27, 2019	6.0	$	16.59	$	12.00	09/27/2019	$	102.6	04/01/2021	$	72.3
	16.0						$	296.3		$	192.3


in millions, except strike and forward prices	December 31, 2020
	Common Shares Purchased	Initial Strike Price		Forward Price		Hedge Completion Date	Value of Total Treasury Shares Recorded		Settlement Date	Total Liability Recorded
$200 million - entered on May 13, 2019	9.8	$	20.51	$	12.00	05/30/2019	$	198.7	01/04/2021	$	117.0
$200 million - entered on July 2, 2019	10.0	$	20.00	$	12.00	07/30/2019	$	193.7	04/01/2021	$	119.4
$100 million - entered on August 27, 2019	6.0	$	16.59	$	12.00	09/27/2019	$	102.6	04/01/2021	$	72.6
	25.8						$	495.0		$	309.0