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Consolidated Statements of Changes in Equity - CAD ($)
$ in Millions
Total
Preferred shares and other equity
Common shares
Shareholders and other equity holders’ retained earnings
Contributed surplus
Shareholders and other equity holders’ accumulated other comprehensive income (loss) (“AOCI”):
Participating policyholders’ equity
Non-controlling interests
Balance, beginning of year at Dec. 31, 2022   $ 6,660 $ 22,178 $ 3,538 $ 238 $ 14,261 $ (77) $ 1,427
Issued (note 11)   0            
Redeemed (note 11)   0            
Repurchased (note 11)     (745) (850)        
Issued on exercise of stock options and deferred share units     94   (18)      
Stock option expense         2      
Net income (loss) attributed to shareholders and other equity holders       5,103        
Preferred share dividends and other equity distributions       (303)        
Common share dividends       (2,669)        
Other       0        
Change in unrealized foreign exchange gains (losses) on net foreign operations $ (1,301)         (1,117)    
Changes in insurance / reinsurance finance income (expenses) (14,628)         (7,222)    
Change in unrealized gains (losses) on fair value through OCI investments           7,923    
Other changes in OCI attributed to shareholders and other equity holders           (34)    
Net income (loss) attributed to participating policyholders 360           360  
Other comprehensive income (losses) attributed to policyholders             (26)  
Net income (loss) attributed to non-controlling interests 144             144
Other comprehensive income (losses) attributed to non-controlling interests               (126)
Contributions (distributions and acquisitions), net               (14)
Balance, end of year at Dec. 31, 2023 48,727 6,660 21,527 4,819 222 13,811 257 1,431
Total shareholders and other equity holders’ equity, end of year 47,039         47,039    
Issued (note 11)   0            
Redeemed (note 11)   0            
Repurchased (note 11)     (990) (2,282)        
Issued on exercise of stock options and deferred share units     144   (18)      
Stock option expense         0      
Net income (loss) attributed to shareholders and other equity holders       5,385        
Preferred share dividends and other equity distributions       (311)        
Common share dividends       (2,848)        
Other       1        
Change in unrealized foreign exchange gains (losses) on net foreign operations 3,109         2,526    
Changes in insurance / reinsurance finance income (expenses) (15,086)         5,575    
Change in unrealized gains (losses) on fair value through OCI investments           (3,471)    
Other changes in OCI attributed to shareholders and other equity holders           222    
Net income (loss) attributed to participating policyholders 246           246  
Other comprehensive income (losses) attributed to policyholders             64  
Net income (loss) attributed to non-controlling interests 247             247
Other comprehensive income (losses) attributed to non-controlling interests               (243)
Contributions (distributions and acquisitions), net               (14)
Balance, end of year at Dec. 31, 2024 52,960 $ 6,660 $ 20,681 $ 4,764 $ 204 18,663 $ 567 $ 1,421
Total shareholders and other equity holders’ equity, end of year $ 50,972         $ 50,972