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v3.26.1

condensed interim consolidated statements of changes in owners' equity - CAD ($) shares in Millions, $ in Millions | Equity contributed, Common shares | Contributed surplus | Retained earnings (deficit) | Accumulated other comprehensive income (loss) | Common equity | Non-controlling interests | Total
--- | --- | --- | --- | --- | --- | --- | ---
Balance (in shares) at Dec. 31, 2024 | 1,504 |  |  |  |  |  |
Balance at Dec. 31, 2024 | $ 13,124 | $ 1,081 | $ 1,520 | $ (105) | $ 15,620 | $ 1,178 | $ 16,798
Net income (loss) |  |  | 328 |  | 328 | (272) | 56
Other comprehensive income |  |  | 26 | 20 | 46 | (45) | 1
Dividends |  |  | (1,244) |  | (1,244) |  | (1,244)
Dividends reinvested and optional cash payments | $ 409 |  |  |  | 409 |  | 409
Dividends reinvested and optional cash payments (in shares) | 21 |  |  |  |  |  |
Equity accounted share-based compensation |  | 70 |  |  | 70 | (4) | 66
Change in ownership interests of subsidiaries |  | (9) |  |  | (9) | 25 | 16
Balance (in shares) at Jun. 30, 2025 | 1,525 |  |  |  |  |  |
Balance at Jun. 30, 2025 | $ 13,533 | 1,142 | 630 | (85) | 15,220 | 882 | 16,102
Balance (in shares) at Dec. 31, 2025 | 1,549 |  |  |  |  |  |
Balance at Dec. 31, 2025 | $ 14,096 | 1,577 | 98 | 4 | 15,775 | 804 | 16,579
Net income (loss) |  |  | (1,704) |  | (1,704) | 18 | (1,686)
Other comprehensive income |  |  | 12 | (16) | (4) |  | (4)
Dividends |  |  | (1,312) |  | (1,312) |  | (1,312)
Dividends reinvested and optional cash payments | $ 438 |  |  |  | 438 |  | 438
Dividends reinvested and optional cash payments (in shares) | 25 |  |  |  |  |  |
Equity accounted share-based compensation | $ 21 | 64 |  |  | 85 |  | 85
Equity accounted share-based compensation (in shares) | 1 |  |  |  |  |  |
Partnership distributions to non-controlling interest |  |  |  |  |  | (14) | (14)
Issue of shares in business combination | $ 3 |  |  |  | 3 |  | 3
Balance (in shares) at Jun. 30, 2026 | 1,575 |  |  |  |  |  |
Balance at Jun. 30, 2026 | $ 14,558 | $ 1,641 | $ (2,906) | $ (12) | $ 13,281 | $ 808 | $ 14,089

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