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Common shares (Tables)
 9 Months Ended
Sep. 30, 2025
Equity [Abstract]  
Summary of common shares
As at
Sep 30
As at
Dec 31
thousands of shares20252024
Authorized1,100,000 1,100,000 
Outstanding496,861 509,045 
Common share activities
The company’s common share activities are summarized below:
 Thousands of
 shares 		Millions of
 dollars
Balance as at December 31, 2023
535,837 992 
Purchases at stated value(26,792)(50)
Balance as at December 31, 2024
509,045 942 
Purchases at stated value(12,184)(23)
Balance as at September 30, 2025
496,861 919 
Calculation of basic and diluted earnings per share
The following table provides the calculation of basic and diluted earnings per common share and the dividends declared by the company on its outstanding common shares:
 
       Third Quarter
       Nine Months
       to September 30
2025202420252024
Net income (loss) per common share – basic
Net income (loss) (millions of Canadian dollars)
5391,2372,7763,565
Weighted-average number of common shares outstanding (millions of shares)
503.8530.6507.3534.1
Net income (loss) per common share (dollars)
1.072.335.476.67
Net income (loss) per common share – diluted
Net income (loss) (millions of Canadian dollars)
5391,2372,7763,565
Weighted-average number of common shares outstanding (millions of shares)
503.8530.6507.3534.1
Effect of employee share-based awards (millions of shares)
1.31.31.31.2
Weighted-average number of common shares outstanding,
        assuming dilution (millions of shares)
505.1531.9508.6535.3
Net income (loss) per common share (dollars)
1.072.335.466.66
Dividends per common share – declared (dollars)
0.720.602.161.80