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Consolidated Statements of Cash Flows - CAD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Operating activities    
Net income $ 6,912 $ 5,576
Adjustments:    
Increase in insurance contract liabilities 10,719 36,982
Increase in investment contract liabilities 44 178
(Increase) decrease in reinsurance assets excluding coinsurance transactions (note 6) 754 (2,374)
Amortization of (premium) discount on invested assets 181 154
Other amortization 529 656
Net realized and unrealized (gains) losses and impairment on assets 4,824 (22,521)
Deferred income tax expense (recovery) (127) 280
Stock option expense 9 14
Cash provided by (used in) operating activities before undernoted items 23,845 18,945
Changes in policy related and operating receivables and payables (690) 1,103
Cash provided by (used in) operating activities 23,155 20,048
Investing activities    
Purchases and mortgage advances (120,965) (111,981)
Disposals and repayments 96,728 98,850
Change in investment broker net receivables and payables (186) (1,017)
Net cash flows from acquisition and disposal of subsidiaries and businesses (19)  
Cash provided by (used in) investing activities (24,442) (14,148)
Financing activities    
Issue of long-term debt, net (note 9)   2,455
Redemption of long-term debt (note 9) (1,250) (652)
Issue of capital instruments, net (note 10)   1,990
Redemption of capital instruments (note 10) (818) (1,250)
Secured borrowings (note 3 (f)) 26 1,376
Change in repurchase agreements and securities sold but not yet purchased 186 24
Changes in deposits from Bank clients, net (164) (579)
Lease payments (124) (134)
Shareholders' dividends and other equity distributions (2,500) (2,340)
Common shares repurchased (note 11)   (253)
Common shares issued, net (note 11) 51 36
Preferred shares and other equity issued, net (note 11) 3,171  
Preferred shares redeemed, net (note 11) (612)  
Contributions from (distributions to) non-controlling interests, net (13) (10)
Cash provided by (used in) financing activities (2,047) 663
Cash and short-term securities    
Increase (decrease) during the year (3,334) 6,563
Effect of foreign exchange rate changes on cash and short-term securities (319) (528)
Net cash and short-term securities, January 1 25,583 19,548
Net cash and short-term securities, December 31 21,930 25,583
Cash and short-term securities    
Gross cash and short-term securities, beginning of year 26,167 20,300
Net payments in transit, included in other liabilities, beginning of year (584) (752)
Gross cash and short-term securities, end of year 22,594 26,167
Net cash and short-term securities, January 1 25,583 19,548
Net payments in transit, included in other liabilities, end of year (664) (584)
Net cash and short-term securities, December 31 21,930 25,583
Supplemental disclosures on cash flow information    
Interest received 11,376 11,736
Interest paid 981 1,188
Income taxes paid $ 571 $ 1,358