SHARE CAPITAL

6 Months Ended

Jun. 30, 2023

Equity [Abstract]

SHARE CAPITAL

SHARE CAPITAL

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

	As of
in millions	June 30, 2023	December 31, 2022
Preferred shares issued (1)	4.0	4.0
Preferred shares outstanding (1)	4.0	4.0

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(1)    Preferred shares are held by Massachusetts Mutual Life Insurance Company (MassMutual) and are subject to a lock-up period of five years, which prohibits the sale of the preferred shares by MassMutual until May 24, 2024.

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

	As of
in millions	June 30, 2023	December 31, 2022
Common shares issued	566.1	566.1
Less: Treasury shares for which dividend and voting rights do not apply	(117.5)	(111.3)
Common shares outstanding	448.6	454.8