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Stock-Based Compensation - Additional Information (Detail) |  | 12 Months Ended |
--- | --- | --- | ---
Feb. 28, 2020 | Dec. 31, 2020 CAD ($) Equity Employees Options $ / shares shares | Dec. 31, 2019 CAD ($) Equity Options $ / shares | Dec. 31, 2018 Equity
Disclosure of terms and conditions of share-based payment arrangement [Line Items] |  |  |  |
Compensation expense |  | $ 14,000,000 | $ 11,000,000 |
Black scholes option pricing model [member] |  |  |  |
Disclosure of terms and conditions of share-based payment arrangement [Line Items] |  |  |  |
Weighted average fair value of options granted |  | $ 3.66 | $ 4.57 |
Risk-free interest rate |  | 1.50% | 2.50% |
Dividend yield |  | 3.50% | 3.50% |
Expected volatility |  | 23.00% | 28.00% |
Expected life |  | 8 years | 6 years 3 months 18 days |
Executive Stock Option Plan [Member] |  |  |  |
Disclosure of terms and conditions of share-based payment arrangement [Line Items] |  |  |  |
Description of share-based payment arrangement |  | The options provide the holder the right to purchase MFC common shares at an exercise price equal to the higher of the prior day, prior five-day or prior ten-day average closing market price of the shares on the Toronto Stock Exchange on the date the options are granted. |  |
Shares reserved for future issuance | shares |  | 73,600,000 |  |
Executive Stock Option Plan [Member] | Top of range [Member] |  |  |  |
Disclosure of terms and conditions of share-based payment arrangement [Line Items] |  |  |  |
Option vesting period |  | 4 years |  |
Option expiration period |  | 10 years |  |
Deferred Share Units under ESOP [member] |  |  |  |
Disclosure of terms and conditions of share-based payment arrangement [Line Items] |  |  |  |
Vesting period |  | 3 years |  |
Number of common shares to be received on retirement or termination | shares |  | 1 |  |
Fair value of equity issued | Equity |  | 0 | 0 |
Number of shares outstanding | Equity |  | 285,000 | 298,000 |
Deferred Share Units [Member] |  |  |  |
Disclosure of terms and conditions of share-based payment arrangement [Line Items] |  |  |  |
Compensation expense |  | $ 5,000,000 | $ 10,000,000 |
Number of equity granted |  | 28,000 | 46,000 |
Number of other equity instruments entitle holder to receive payment in cash | Options |  | 811,000 | 1,055,000 |
Number of other equity entitle holder to receive payment in cash or common shares | Options |  | 1,073,000 | 1,042,000 |
Amount of the liability relating to equity |  | $ 43,000,000 | $ 55,000,000 |
Deferred Share Units [Member] | Defer receipt of all or part of annual bonus [member] |  |  |  |
Disclosure of terms and conditions of share-based payment arrangement [Line Items] |  |  |  |
Number of equity granted |  | 38,000 | 49,000 |
Deferred Share Units [Member] | Defer payment of all or part of RSUs or PSUs [member] |  |  |  |
Disclosure of terms and conditions of share-based payment arrangement [Line Items] |  |  |  |
Number of equity granted |  | 2,600 | 24,000 |
Deferred Share Units [Member] | Board of Director [Member] |  |  |  |
Disclosure of terms and conditions of share-based payment arrangement [Line Items] |  |  |  |
Fair value of equity issued | Equity |  | 214,000 | 229,000 |
Number of shares outstanding | Equity |  | 2,169,000 | 2,395,000 | 2,538,000
Fair value of equity granted | $ / shares |  | $ 22.65 | $ 26.36 |
Deferred Share Units [Member] | Bottom of range [Member] |  |  |  |
Disclosure of terms and conditions of share-based payment arrangement [Line Items] |  |  |  |
Vesting period |  |  | 36 months |
Restricted share units (RSUs) [member] |  |  |  |
Disclosure of terms and conditions of share-based payment arrangement [Line Items] |  |  |  |
Compensation expense |  | $ 140,000,000 | $ 17,000,000 |
Vesting period | 36 months |  |  |
Number of equity granted |  | 6,700,000 | 6,500,000 |
Fair value of equity granted | $ / shares |  | $ 22.65 | $ 26.36 |
Vesting date | February 20 2020 |  |  |
Performance share units (PSUs) [member] |  |  |  |
Disclosure of terms and conditions of share-based payment arrangement [Line Items] |  |  |  |
Compensation expense |  | $ 15,000,000 | $ 128,000,000 |
Vesting period | 36 months |  |  |
Number of equity granted |  | 1,100,000 | 1,100,000 |
Fair value of equity granted | $ / shares |  |  | $ 0 |
Vesting date | February 20 2020 |  |  |
Restricted share units and performance share units [member] |  |  |  |
Disclosure of terms and conditions of share-based payment arrangement [Line Items] |  |  |  |
Amount of the liability relating to equity |  | $ 194,000,000 | $ 205,000,000 |

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- Definition The expected volatility of the share price used to calculate the fair value of the share options granted. Expected volatility is a measure of the amount by which a price is expected to fluctuate during a period. The measure of volatility used in option pricing models is the annualised standard deviation of the continuously compounded rates of return on the share over a period of time. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Name IFRS -Number 2 -IssueDate 2020-01-01 -Paragraph 47 -Subparagraph a -Clause i -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&num=2&code=ifrs-tx-2020-en-r&anchor=para_47_a_i&doctype=Standard -URIDate 2020-01-01 + Details
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- Definition The weighted average fair value of share options granted during the period at the measurement date. [Refer: Weighted average [member]] + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Name IFRS -Number 2 -IssueDate 2020-01-01 -Paragraph 47 -Subparagraph a -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&num=2&code=ifrs-tx-2020-en-r&anchor=para_47_a&doctype=Standard -URIDate 2020-01-01 + Details
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