XML 52 R37.htm IDEA: XBRL DOCUMENT v3.23.2
EQUITY (Tables)
 6 Months Ended
Jun. 30, 2023
Equity [abstract]  
Schedule of equity
The company’s common equity is comprised of the following:
AS AT JUN. 30, 2023 AND DEC. 31, 2022 (MILLIONS)20232022
Common shares$10,857 $10,901 
Contributed surplus155 148 
Retained earnings17,646 18,006 
Ownership changes3,809 2,959 
Accumulated other comprehensive income8,031 7,594 
Common equity$40,498 $39,608 
The number of issued and outstanding Class A and Class B shares and unexercised options are as follows:
AS AT JUN. 30, 2023 AND DEC. 31, 2022 20232022
Class A shares1
1,563,781,772 1,573,286,748 
Class B shares85,120 85,120 
Shares outstanding1
1,563,866,892 1,573,371,868 
Unexercised options, other share-based plans2 and exchangeable shares of affiliate
56,388,743 55,500,881 
Total diluted shares1,620,255,635 1,628,872,749 
1.Net of 71,921,167 Class A shares held by the company in respect of long-term compensation agreements as at June 30, 2023 (December 31, 2022 – 62,910,220).
2.Includes management share option plan and escrowed stock plan Shares issued and outstanding changed as follows:
 Three Months EndedSix Months Ended
FOR THE PERIODS ENDED JUN. 30 2023202220232022
Outstanding, beginning of period1
1,564,393,929 1,566,315,679 1,573,371,868 1,568,828,941 
Issued (Repurchased)
Issuances
1,380 2,194 262,361 34,559 
Repurchases
(1,189,664)(5,080,468)(11,676,545)(8,981,612)
Long-term share ownership plans2
643,650 606,497 1,826,185 1,914,829 
Dividend reinvestment plan and other17,597 66,311 83,023 113,496 
Outstanding, end of period3
1,563,866,892 1,561,910,213 1,563,866,892 1,561,910,213 
1.Net of 70,740,647 Class A shares held by the company in respect of long-term compensation agreements as at March 31, 2023 (March 31, 2022 – 72,058,294) and 62,910,220 as at December 31, 2022 (December 31, 2021 – 69,663,192).
2.Includes management share option plan and restricted stock plan.
3.Net of 71,921,167 Class A shares held by the company in respect of long-term compensation agreements as at June 30, 2023 (June 30, 2022 – 77,112,939).
Schedule of basic and diluted earnings per share
The components of basic and diluted earnings per share are summarized in the following table:
FOR THE PERIODS ENDED JUN. 30 (MILLIONS)Three Months EndedSix Months Ended
2023202220232022
Net income attributable to shareholders$81 $590 $201 $1,949 
Preferred share dividends(41)(37)(82)(74)
Net income available to shareholders40 553 119 1,875 
Dilutive impact of exchangeable shares— 1 — 3 
Net income available to shareholders including dilutive impact of exchangeable shares$40 $554 $119 $1,878 
FOR THE PERIODS ENDED JUN. 30 (MILLIONS)Three Months EndedSix Months Ended
2023202220232022
Weighted average – Class A and Class B shares1,564.0 1,564.4 1,568.2 1,566.0 
Dilutive effect of conversion of options and escrowed shares using treasury stock method and exchangeable shares of affiliate14.4 52.7 14.6 55.9 
Class A and Class B shares and share equivalents1,578.4 1,617.1 1,582.8 1,621.9