COMMON SHARE-BASED COMPENSATION

6 Months Ended

Jun. 30, 2023

Share-Based Payment Arrangement [Abstract]

The company recognized total compensation expense of $69.8 million and $57.1 million related to equity-settled common share-based payment transactions in the six months ended June 30, 2023 and 2022, respectively.

Movements on employee common share awards during the periods ended June 30 are detailed below:


	For the six months ended June 30, 2023			For the six months ended June 30, 2022
In millions of common shares, except fair values	Time- Vested	Performance- Vested	Weighted Average Grant Date Fair Value ($)	Time- Vested	Performance- Vested
Unvested at the beginning of period	10.3	2.1	19.03	13.5	1.9
Granted during the period	4.3	0.7	17.73	3.6	1.0
Forfeited during the period	(0.1)	(0.2)	15.90	(0.2)	(0.1)
Vested and distributed during the period	(4.8)	(0.5)	18.01	(5.1)	(0.4)
Unvested at the end of the period	9.7	2.1	19.02	11.8	2.4

The total fair value of common shares that vested during the six months ended June 30, 2023 was $91.3 million (six months ended June 30, 2022: $116.8 million). The weighted average grant date fair value of the U.S. dollar share awards that were granted during the six months ended June 30, 2023 was $17.73 (six months ended June 30, 2022: $21.23).

At June 30, 2023, there was $153.2 million of total unrecognized compensation cost related to non-vested common share awards; that cost is expected to be recognized over a weighted average period of 2.69 years.