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Per Share Amounts (Tables) | 9 Months Ended
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Sep. 30, 2023
Earnings per share [abstract] |
Schedule Representing Per Share Amounts |
| Three Months Ended |  | Nine Months Ended
For the periods ended September 30, | 2023 |  | 2022 |  | 2023 |  | 2022
Net Earnings (Loss) | 1,864 |  | 1,609 |  | 3,366 |  | 5,666
Effect of Cumulative Dividends on Preferred Shares | (9) |  | (9) |  | (27) |  | (26)
Net Earnings (Loss) – Basic and Diluted | 1,855 |  | 1,600 |  | 3,339 |  | 5,640
Basic – Weighted Average Number of Shares (thousands) | 1,891,937 |  | 1,927,864 |  | 1,900,952 |  | 1,962,813
Dilutive Effect of Warrants | 6,408 |  | 41,956 |  | 27,491 |  | 45,002
Dilutive Effect of Net Settlement Rights | 6,752 |  | 7,188 |  | 7,643 |  | 10,657
Dilutive Effect of Cenovus Replacement Stock Options | — |  | 1,637 |  | 630 |  | —
Diluted – Weighted Average Number of Shares (thousands) | 1,905,097 |  | 1,978,645 |  | 1,936,716 |  | 2,018,472
Net Earnings (Loss) Per Common Share – Basic ($) | 0.98 |  | 0.83 |  | 1.76 |  | 2.87
Net Earnings (Loss) Per Common Share – Diluted (1) (2) ($) | 0.97 |  | 0.81 |  | 1.72 |  | 2.79
(1)For the three months ended September 30, 2023, net earnings of $6 million and common shares of 0.6 million related to the assumed exercise of the Cenovus replacement stock options were excluded from the calculation of dilutive net earnings (loss) per share as the impact was anti-dilutive. For the nine months ended September 30, 2022, net earnings of $35 million and common shares of 1.6 million related to the assumed exercise of the Cenovus replacement stock options were excluded from the calculation of dilutive net earnings (loss) per share as the effect was anti-dilutive. (2)For the three and nine months ended September 30, 2023, net settlement rights (“NSRs”) of 1.5 million and 1.5 million, respectively, (three and nine months ended September 30, 2022 – 2.0 million and 2.0 million, respectively) were excluded from the calculation of diluted weighted average number of shares as the effect was anti-dilutive.
Disclosure Of Dividends To Shareholders |
| 2023 |  | 2022
For the nine months ended September 30, | Per Share |  | Amount |  | Per Share |  | Amount
Base Dividends | 0.385 |  | 729 |  | 0.245 |  | 481
Variable Dividends | — |  | — |  | — |  | —
Total Common Share Dividends Declared and Paid | 0.385 |  | 729 |  | 0.245 |  | 481
C) Preferred Share Dividends
| Three Months Ended |  | Nine Months Ended
For the periods ended September 30, | 2023 |  | 2022 |  | 2023 |  | 2022
Series 1 First Preferred Shares | 2 |  | 1 |  | 5 |  | 5
Series 2 First Preferred Shares | 1 |  | 1 |  | 2 |  | 1
Series 3 First Preferred Shares | 3 |  | 3 |  | 9 |  | 9
Series 5 First Preferred Shares | 2 |  | 3 |  | 7 |  | 7
Series 7 First Preferred Shares | 1 |  | 1 |  | 4 |  | 4
Total Preferred Share Dividends Declared | 9 |  | 9 |  | 27 |  | 26

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