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SHARE CAPITAL
 6 Months Ended
Jun. 30, 2024
Equity [Abstract]  
SHARE CAPITAL SHARE CAPITAL
As of June 30, 2024 and December 31, 2023, the share capital of the Company comprises the following:
AS OF
US$ MILLIONS, EXCEPT SHARE AMOUNTS		June 30, 2024December 31, 2023
Par ValueAuthorized to IssueIssued and OutstandingCarrying AmountPar ValueAuthorized to IssueIssued and OutstandingCarrying Amount
Class A Senior Preferred Shares$25.00 100,000,000— $— $25.00 100,000,000— $— 
Class B Senior Preferred SharesC$25.00 100,000,000— — C$25.00 100,000,000— — 
Class A Junior Preferred Shares25.00 1,000,000,000100,460,2802,751 25.00 1,000,000,000100,460,2802,694 
Class B Junior Preferred SharesC$25.00 1,000,000,000— — C$25.00 1,000,000,000— — 
Exchangeable Class A Shares33.26 1,000,000,00016,879,755666 33.42 1,000,000,00015,311,749615 
Exchangeable Class A-1 Shares33.26 500,000,00026,505,771904 33.42 500,000,00028,073,777961 
Class B Shares33.26 500,00024,0001 33.42 500,00024,0001 
Class C Shares1.00 1,000,000,000128,643,4064,726 1.00 1,000,000,000102,056,7843,607 

For the six months ended June 30, 2024, the following events impacted the Company’s share capital position:
•On May 9, 2024, the Company issued 26,586,622 Class C shares to Brookfield, valued at $1.1 billion in exchange for the purchase of BAM Shares from Brookfield which were used as consideration for the acquisition of AEL.
For the six months ended June 30, 2023, the following events impacted the Company’s share capital position:
•Through the month of March 2023, the Company issued 1,165,000 Class A exchangeable shares in exchange for 1,165,000 Class A shares of Brookfield, valued at $38 million.
•On March 3, 2023, the Company converted 309,037 Class A exchangeable shares for $10 million into 380,268 Class C shares.
In addition, subsequent to the Company’s issuance of Class A-1 exchangeable shares in November 2023, certain of its shareholders have converted them into Class A exchangeable shares. Each Class A-1 exchangeable share is convertible on a one-for-one basis for a Class A exchangeable share and exchangeable on a one-for-one basis for a Brookfield Class A share. During the first and second quarters of 2024, 1,523,169 and 44,837 Class A-1 exchangeable shares were converted into Class A exchangeable shares.
As of June 30, 2024 and December 31, 2023, there were $238 million and $182 million of accrued dividends on Class A junior preferred shares, respectively. The redemption value is equal to the carrying value as of June 30, 2024 and December 31, 2023.
The movement of shares issued and outstanding is as follows:
2024
2023
AS OF AND FOR THE THREE MONTHS ENDED JUN. 30
Class A Redeemable Junior Preferred SharesClass A Exchangeable SharesClass A-1 Exchangeable SharesClass B SharesClass C SharesClass A Redeemable Junior Preferred SharesClass A Exchangeable SharesClass A-1 Exchangeable SharesClass B SharesClass C Shares
Beginning, Jan. 1100,460,280 15,311,749 28,073,777 24,000 102,056,784 100,460,280 9,594,989 — 24,000 40,934,623 
Issuances— — — — — — 1,165,000 — — — 
Conversions— 1,523,169 (1,523,169)— — — (309,037)— — 380,268 
Ending, Mar. 31
100,460,280 16,834,918 26,550,608 24,000 102,056,784 100,460,280 10,450,952 — 24,000 41,314,891 
Issuances— — — — 26,586,622 — — — — — 
Conversions— 44,837 (44,837)— — — — — — — 
Ending, Jun. 30
100,460,280 16,879,755 26,505,771 24,000 128,643,406 100,460,280 10,450,952 — 24,000 41,314,891 

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