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Earnings Per Share
 12 Months Ended
Oct. 31, 2025
Text Block [Abstract]  
Earnings Per Share
 
Note 23: Earnings Per Share
Basic earnings per share is calculated by dividing net income attributable to bank shareholders, after deducting dividends payable on preferred shares and distributions payable on other equity instruments, by the daily average number of fully paid common shares outstanding throughout the year.
Diluted earnings per share is calculated in the same manner, with further adjustments made to reflect the dilutive impact of instruments that are convertible into our common shares.
The following table presents our basic and diluted earnings per share:
 
Basic Earnings Per Common Share
(Canadian $ in millions, except as noted)
   
2025
      2024  
Net income attributable to bank shareholders
   
$
8,709
 
    $ 7,318  
Dividends on preferred shares and distributions on other equity instruments
   
 
(436
)
      (386 ) 
Net income available to common shareholders
   
$
8,273
 
    $ 6,932  
Weighted-average number of common shares outstanding
(in thousands)
   
 
721,926
 
      727,738  
Basic earnings per common share
(Canadian $)
   
$
11.46
 
    $ 9.52  
Diluted Earnings Per Common Share
(Canadian $ in millions, except as noted)
   
 
2025
 
      2024  
Net income available to common shareholders
   
$
8,273
 
    $ 6,932  
Weighted-average number of common shares outstanding
(in thousands)
   
 
721,926
 
      727,738  
Dilutive impact of stock options
(1)
      
Stock options potentially exercisable
   
 
5,897
 
      3,556  
Common shares potentially repurchased
   
 
(4,556
)
      (2,759 ) 
Weighted-average number of diluted common shares outstanding
(in thousands)
   
 
    723,267
 
          728,535  
Diluted earnings per common share
(Canadian $)
   
$
11.44
 
    $ 9.51  
 
  (1)
The dilutive effect of stock options was calculated using the treasury stock method. In computing diluted earnings per common share, we excluded average stock options outstanding of 477,101 with a weighted-average exercise price of $150.96 for the year ended October 31, 2025 (3,220,995 with a weighted-average exercise price of $130.33 for the year ended October 31, 2024), as the average share price in each of the two years did not exceed the exercise price.