COMMON SHARE-BASED COMPENSATION

9 Months Ended

Sep. 30, 2026

Share-Based Payment Arrangement [Abstract]

The company recognized total compensation expense of $91.9 million and $59.8 million related to equity-settled common share-based compensation for the nine months ended September 30, 2026 and 2025, respectively.

Movements on employee common share awards during the nine months ended September 30, 2026 and 2025 are detailed below:


	Nine months ended September 30, 2026				Nine months ended September 30, 2025
(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	9.9	2.0	$	17.12	9.8	1.4
Granted	4.3	0.8	27.12		4.3	1.0
Forfeited/Canceled due to performance measures	(0.3)	—	18.96		(0.4)	(0.3)
Vested and distributed	(4.0)	(0.3)	17.40		(3.6)	(0.1)
Unvested at the end of the period	9.9	2.5	21.08		10.1	2.0

The total fair value of common shares that vested during the nine months ended September 30, 2026 was $116.2 million (nine months ended September 30, 2025: $63.9 million). The weighted average grant date fair value of the U.S. dollar share awards that were granted during the nine months ended September 30, 2026 was $27.12 (nine months ended September 30, 2025: $17.66).

At September 30, 2026, there was $152.7 million of total unrecognized compensation cost related to non-vested common share awards. This cost is expected to be recognized over a weighted average period of 2.4 years.