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Consolidated Statements of Equity (unaudited) $ in Millions | CAD ($) | Common shares CAD ($) | Preferred Shares CAD ($) | Common Shares CAD ($) | Common Shares Common shares CAD ($) | Treasury Shares CAD ($) | Treasury Shares Common shares CAD ($) | Preferred Shares CAD ($) | Warrants CAD ($) | Paid in Surplus CAD ($) | Paid in Surplus Common shares CAD ($) | Paid in Surplus Preferred Shares CAD ($) | Retained Earnings CAD ($) | Retained Earnings Common shares CAD ($) | Retained Earnings Preferred Shares CAD ($) | AOCI CAD ($) | [1]
--- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | ---
Beginning balance at Dec. 31, 2023 |  | $ 28,698 |  |  | $ 16,031 |  | $ 0 |  | $ 519 | $ 25 | $ 2,002 |  |  | $ 8,913 |  |  | $ 1,208
Net Earnings (Loss) |  | 2,996 |  |  |  |  |  |  |  |  |  |  |  | 2,996 |  |  |
Other Comprehensive Income (Loss), Net of Tax |  | 353 |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 353
Comprehensive Income (Loss) |  | 3,349 |  |  |  |  |  |  |  |  |  |  |  | 2,996 |  |  | 353
Common shares issued under stock option plans (in shares) |  |  |  |  |  | 67 |  |  |  |  |  |  |  |  |  |  |
Common Shares Issued Under Stock Option Plans |  |  | $ 51 |  |  |  |  |  |  |  |  | $ (16) |  |  |  |  |
Purchase of Common Shares Under NCIB | [2] | (1,337) |  |  | (439) |  |  |  |  |  | (898) |  |  |  |  |  |
Warrants Exercised |  | 25 |  |  | 38 |  |  |  |  | (13) |  |  |  |  |  |  |
Stock-Based Compensation Expense |  | 8 |  |  |  |  |  |  |  |  | 8 |  |  |  |  |  |
Dividends paid |  |  | (925) | $ (27) |  |  |  |  |  |  |  |  |  |  | $ (925) | $ (27) |
Variable Dividends on Common Shares |  |  | (251) |  |  |  |  |  |  |  |  |  |  |  | (251) |  |
Ending balance at Sep. 30, 2024 |  | 29,591 |  |  | 15,697 |  | 0 |  | 519 | 12 | 1,096 |  |  | 10,706 |  |  | 1,561
Beginning balance at Dec. 31, 2023 |  | 28,698 |  |  | 16,031 |  | 0 |  | 519 | 25 | 2,002 |  |  | 8,913 |  |  | 1,208
Ending balance at Dec. 31, 2024 |  | 29,754 |  |  | 15,659 |  | (43) |  | 356 | 12 | 944 |  |  | 10,513 |  |  | 2,313
Beginning balance at Sep. 30, 2024 |  | 29,591 |  |  | 15,697 |  | 0 |  | 519 | 12 | 1,096 |  |  | 10,706 |  |  | 1,561
Ending balance at Sep. 30, 2025 |  | 28,374 |  |  | 15,162 |  | (55) |  | 113 | 10 | 296 |  |  | 12,229 |  |  | 619
Beginning balance at Dec. 31, 2024 |  | 29,754 |  |  | 15,659 |  | (43) |  | 356 | 12 | 944 |  |  | 10,513 |  |  | 2,313
Net Earnings (Loss) |  | 2,996 |  |  |  |  |  |  |  |  |  |  |  | 2,996 |  |  |
Other Comprehensive Income (Loss), Net of Tax |  | (1,694) |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (1,694)
Comprehensive Income (Loss) |  | 1,302 |  |  |  |  |  |  |  |  |  |  |  | 2,996 |  |  | (1,694)
Common shares issued under stock option plans (in shares) |  |  |  |  |  | 15 |  |  |  |  |  |  |  |  |  |  |
Common Shares Issued Under Stock Option Plans |  |  | 12 |  |  |  |  |  |  |  |  | (3) |  |  |  |  |
Purchase of Common Shares Under NCIB | [2] |  | (1,281) |  |  | $ (519) |  |  |  |  |  | (541) |  |  | (221) |  |
Purchase of Common Shares Under Employee Benefit Plan |  | (94) |  |  |  |  | (94) |  |  |  |  |  |  |  |  |  |
Common Shares Issued Under Employee Benefit Plan |  |  | 76 |  |  |  |  | $ 82 |  |  |  | $ (6) |  |  |  |  |
Preferred Shares Redeemed |  |  |  | (350) |  |  |  |  | (243) |  |  |  | $ (107) |  |  |  |
Warrants Exercised |  | 5 |  |  | 7 |  |  |  |  | (2) |  |  |  |  |  |  |
Stock-Based Compensation Expense |  | 9 |  |  |  |  |  |  |  |  | 9 |  |  |  |  |  |
Dividends paid |  |  | (1,047) | $ (12) |  |  |  |  |  |  |  |  |  |  | $ (1,047) | $ (12) |
Variable Dividends on Common Shares |  |  | $ 0 |  |  |  |  |  |  |  |  |  |  |  |  |  |
Ending balance at Sep. 30, 2025 |  | $ 28,374 |  |  | $ 15,162 |  | $ (55) |  | $ 113 | $ 10 | $ 296 |  |  | $ 12,229 |  |  | $ 619
[1] | Accumulated other comprehensive income (loss) (“AOCI”).
[2] | Normal course issuer bid (“NCIB”). Includes taxes payable on purchase of shares.

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