COMMON SHARE-BASED COMPENSATION

3 Months Ended

Mar. 31, 2024

Share-Based Payment Arrangement [Abstract]

The company recognized total compensation expense of $21.1 million and $37.8 million related to equity-settled common share-based compensation in the three months ended March 31, 2024 and 2023, respectively.

Movements on employee common share awards during the periods ended March 31 are detailed below:


	Three months ended March 31, 2024				Three months ended March 31, 2023
(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	10.4	1.6	$	18.84	10.3	2.1
Granted during the period	4.9	0.9	15.13		4.3	0.7
Forfeited during the period	(0.2)	(0.1)	18.21		—	(0.2)
Vested and distributed during the period	(4.4)	(0.3)	18.29		(4.5)	(0.5)
Unvested at the end of the period	10.7	2.1	$	17.41	10.1	2.1

The total fair value of common shares that vested during the three months ended March 31, 2024 was $67.0 million (three months ended March 31, 2023: $87.3 million). The weighted average grant date fair value of the United States (U.S.) dollar share awards that were granted during the three months ended March 31, 2024 was $15.13 (three months ended March 31, 2023: $17.74).

At March 31, 2024, there was $182.5 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 2.94 years.