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Net Income per Share
9 Months Ended
Sep. 30, 2025
Earnings Per Share [Abstract]  
Net Income per Share Net Income per Share
The Company applies the two-class method to calculate its basic and diluted net income per share as Class A subordinate voting shares and Class B restricted voting shares are participating securities with equal participation rights and are entitled to receive dividends on a share for share basis. The Company uses the treasury stock method and if-converted method for calculating the effect of dilutive potential common stock from employee stock options and employee RSUs and from its Notes, respectively.
The following table summarizes the reconciliation of the basic weighted average number of shares outstanding and the diluted weighted average number of shares outstanding:
Three months ended September 30,Nine months ended September 30,
2025202420252024
(in US $ millions, except share and per share amounts)
Numerator:
Net income264 828 488 726 
Denominator:
Basic weighted average number of shares outstanding1,300,069,6851,290,585,4261,297,764,8571,288,960,063
Weighted average effect of dilutive securities:
Stock options4,369,5963,461,5843,972,9523,857,467
Restricted share units2,043,0571,151,0041,893,6771,197,706
Convertible senior notes6,388,4806,388,4806,388,4806,388,480
Deferred share units1,89114,1628,94113,613
Diluted weighted average number of shares1,312,872,7091,301,600,6561,310,028,9071,300,417,329
Net income per share:
Basic$0.20 $0.64 $0.38 $0.56 
Diluted$0.20 $0.64 $0.37 $0.56 
Common stock equivalents excluded from net income per diluted share because they are anti-dilutive:
Stock options512,241429,021 125,584267,353 
Restricted share units15,859244,816 210,797492,926 
Deferred share units— 365— 
528,100673,837 336,746760,279