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Share Capital (Tables) | 12 Months Ended
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Dec. 31, 2021
Share Capital, Reserves And Other Equity Interest [Abstract] |
Disclosure of classes of share capital | Changes in common shares issued and outstanding for the years ended December 31 were as follows:
| 2021 | 2020
Common shares (in millions of shares) | Number of shares |  | Amount | Number of shares |  | Amount
Balance, beginning of period |  | 585.1 |  |  | $ | 8,262 |  |  | 587.8 |  |  | $ | 8,289 |
Stock options exercised (Note 19) |  | 0.9 |  |  | 43 |  |  | 0.8 |  |  | 23 |
Common shares purchased for cancellation |  | — |  |  | — |  |  | (3.5) |  |  | (50) |
Balance, end of period |  | 586.0 |  |  | $ | 8,305 |  |  | 585.1 |  |  | $ | 8,262 |
Further information on the preferred shares outstanding, as at December 31, 2021, is as follows:
(in millions of shares) | Issue date | Annual dividend rate | Annual dividend per share | Earliest par call or redemption date(1) | Number of shares |  | Face amount | Net amount(2)
Class A Preferred Shares |  |  |  |  |  |  |  |  |  |
Series 3 | January 13, 2006 | 4.45 | % |  | $ | 1.11 |  |  | Any time | 10.0 |  |  | 250 |  |  | 245 |
Series 4 | October 10, 2006 | 4.45 | % |  | $ | 1.11 |  |  | Any time | 12.0 |  |  | 300 |  |  | 293 |
Series 5 | February 2, 2007 | 4.50 | % |  | $ | 1.13 |  |  | Any time | 10.0 |  |  | 250 |  |  | 245 |
Series 8R(3) | May 25, 2010 | 1.825 | % | (3) | $ | 0.46 |  |  | June 30, 2025(4) | 6.2 |  |  | 155 |  |  | 152 |
Series 9QR(5) | June 30, 2015 | Floating | (6) | Floating |  | June 30, 2025(7) | 5.0 |  |  | 125 |  |  | 122 |
Series 10R(3) | August 12, 2011 | 2.967 | % | (3) | $ | 0.72 |  | (8) | September 30, 2026(4) | 6.8 |  |  | 171 |  |  | 167 |
Series 11QR(5) | September 30, 2016 | Floating | (6) | Floating |  | September 30, 2026(7) | 1.2 |  |  | 29 |  |  | 28 |
Other Equity Instruments |  |  |  |  |  |  |  |  |  |
Series 2021-1(9) | June 30, 2021 | 3.600 | % |  | n/a |  | June 30, 2026 | 1.0 |  |  | 1,000 |  |  | 987 |
Total preferred shares and other equity instruments |  |  |  |  | 52.2 |  |  | $ | 2,280 |  |  | $ | 2,239 |
(1) Redemption of all preferred shares and other equity instruments is subject to regulatory approval. (2) Net of after-tax issuance costs. (3) On the earliest redemption date and every five years thereafter, the dividend rate will reset to an annual rate equal to the 5-year Government of Canada bond yield plus a spread specified for each series. The specified spread for Class A shares is: Series 8R - 1.41% and Series 10R - 2.17%. On the earliest redemption date and every five years thereafter, holders will have the right, at their option, to convert their shares into the series that is one number higher than their existing series. (4) Redeemable on the redemption date and every five years thereafter, in whole or in part, at $25.00 per share. (5) On the earliest redemption date and every five years thereafter, holders will have the right, at their option, to convert those shares into the series that is one number lower than their existing series. (6) Holders are entitled to receive quarterly floating rate non-cumulative dividends at an annual rate equal to the then 3-month Government of Canada treasury bill yield plus a spread specified for each series. The specified spread for Class A shares is: Series 9QR - 1.41% and Series 11QR - 2.17%. (7) Redeemable on the redemption date and every five years thereafter, in whole or in part, at $25.00 per share, and on any other date at $25.50 per share. (8) The annual dividend per share in the table above is the amount paid per share in 2021. (9) On the earliest redemption date and every five years thereafter, the interest rate will reset to an annual rate equal to the Government of Canada bond yield plus 2.604%.

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