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Equity (Tables) | 12 Months Ended
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Dec. 31, 2018
Text block [abstract] |
Summary of Class A Common Shares and Class B Subordinate Voting Shares Issued and Outstanding |
b) | Class A Common Shares and Class B Subordinate Voting Shares Issued and Outstanding
|  | Class A |  |  | Class B |
|  | Common |  |  | Subordinate |
Shares (in 000’s) |  | Shares |  |  | Voting Shares |
As at January 1, 2017 |  |  | 9,353 |  |  |  | 567,546 |
Class A shares conversion |  |  | (1,576 | ) |  |  | 1,576 |
Options exercised (c) |  |  | — |  |  |  | 2,275 |
Acquired and cancelled pursuant to normal course issuer bid (h) |  |  | — |  |  |  | (5,891 | )
As at December 31, 2017 |  |  | 7,777 |  |  |  | 565,506 |
Class A shares conversion |  |  | (9 | ) |  |  | 9 |
Options exercised (c) |  |  | — |  |  |  | 3,710 |
Acquired and cancelled pursuant to normal course issuer bid (h) |  |  | — |  |  |  | (6,300 | )
As at December 31, 2018 |  |  | 7,768 |  |  |  | 562,925 |
Summary of Weighted Average Assumptions | The weighted average fair value of Class B share options granted in the year was estimated at $11.10 per option (2017 – $8.32) at the grant date based on the Black-Scholes option-pricing model using the following assumptions:
|  | 2018 |  |  | 2017 |
Weighted average exercise price |  | $ | 37.44 |  |  | $ | 27.79 |
Dividend yield |  |  | 2.67 | % |  |  | 2.20 | %
Risk-free interest rate |  |  | 2.06 | % |  |  | 1.06 | %
Expected option life |  |  | 4.2 years |  |  |  | 4.2 years |
Expected volatility |  |  | 41 | % |  |  | 42 | %
Forfeiture rate |  |  | 0.54 | % |  |  | 0.36 | %
Summary of Outstanding Share Options | Outstanding share options are as follows:
|  | 2018 |  |  | 2017 |
|  | Share |  |  | Weighted |  |  | Share |  |  | Weighted |
|  | Options |  |  | Average |  |  | Options |  |  | Average |
|  | (in 000’s) |  |  | Exercise Price |  |  | (in 000’s) |  |  | Exercise Price |
Outstanding at beginning of year |  |  | 22,068 |  |  | $ | 19.52 |  |  |  | 22,854 |  |  | $ | 18.38 |
Granted |  |  | 1,575 |  |  |  | 37.44 |  |  |  | 2,011 |  |  |  | 27.79 |
Exercised |  |  | (3,710 | ) |  |  | 14.58 |  |  |  | (2,275 | ) |  |  | 11.47 |
Forfeited |  |  | (107 | ) |  |  | 32.92 |  |  |  | (78 | ) |  |  | 16.25 |
Expired |  |  | (51 | ) |  |  | 37.56 |  |  |  | (444 | ) |  |  | 40.40 |
Outstanding at end of year |  |  | 19,775 |  |  | $ | 21.75 |  |  |  | 22,068 |  |  | $ | 19.52 |
Vested and exercisable at end of year |  |  | 14,036 |  |  | $ | 22.83 |  |  |  | 12,266 |  |  | $ | 24.94 |
Summary of Information Relating to Share Options Outstanding | Information relating to share options outstanding at December 31, 2018, is as follows:
Outstanding Share Options (in 000’s) |  | Exercise Price Range |  |  | Weighted Average Remaining Life of Outstanding Options (months) |
6,411 |  | $ | 4.15 — $ 12.35 |  |  |  | 78 |
3,634 |  | $ | 12.36 — $ 20.14 |  |  |  | 71 |
2,218 |  | $ | 20.15 — $ 26.79 |  |  |  | 59 |
4,386 |  | $ | 26.80 — $ 36.85 |  |  |  | 63 |
3,126 |  | $ | 36.86 — $ 58.80 |  |  |  | 68 |
19,775 |  | $ | 4.15 — $ 58.80 |  |  |  | 70 |
Summary of Outstanding Units | The outstanding Units are summarized in the following table:
(in 000’s) |  | 2018 |  |  | 2017 |
|  | Outstanding |  |  | Vested |  |  | Outstanding |  |  | Vested |
DSUs |  |  | 2,644 |  |  |  | 2,644 |  |  |  | 2,648 |  |  |  | 2,423 |
RSUs |  |  | 821 |  |  |  | 381 |  |  |  | 2,823 |  |  |  | 1,699 |
PSUs |  |  | 667 |  |  |  | 312 |  |  |  | 1,517 |  |  |  | 869 |
PDSUs |  |  | 123 |  |  |  | 61 |  |  |  | 70 |  |  |  | 20 |
|  |  | 4,255 |  |  |  | 3,398 |  |  |  | 7,058 |  |  |  | 5,011 |
Summary of Accumulated Other Comprehensive Income (Loss) |
e) | Accumulated Other Comprehensive Income
(CAD$ in millions) |  | 2018 |  |  | 2017 (restated) |
Accumulated other comprehensive income – beginning of year |  | $ | 244 |  |  | $ | 450 |
IFRS 9 transition adjustment on January 1, 2018 (Note 32(c)) |  |  | (34 | ) |  |  | — |
Currency translation differences: |  |  |  |  |  |  |  |
Unrealized gains (losses) on translation of foreign subsidiaries |  |  | 638 |  |  |  | (536 | )
Foreign exchange differences on debt designated as a hedge of our investment in foreign subsidiaries (net of taxes of $40 and $(46)) |  |  | (255 | ) |  |  | 341 |
|  |  | 383 |  |  |  | (195 | )
Marketable equity and debt securities (2017 – Available-for-sale financial assets): |  |  |  |  |  |  |  |
Unrealized loss on marketable equity and debt securities (2017 – available-for-sale financial assets) (net of taxes of $1 and $1) |  |  | (10 | ) |  |  | (4 | )
Realized gain on marketable equity and debt securities (net of taxes of $nil and $nil) |  |  | 1 |  |  |  | — |
Realized loss on available-for-sale financial assets reclassified to profit (net of taxes of $nil and $1) |  |  | — |  |  |  | (6 | )
|  |  | (9 | ) |  |  | (10 | )
Share of other comprehensive loss of associates and joint ventures |  |  | — |  |  |  | (1 | )
Remeasurements of retirement benefit plans (net of taxes of $(2) and $(55)) |  |  | 8 |  |  |  | 129 |
Total other comprehensive income (loss) |  |  | 382 |  |  |  | (77 | )
Less remeasurements of retirement benefit plans recorded in retained earnings |  |  | (8 | ) |  |  | (129 | )
Accumulated other comprehensive income – end of year |  | $ | 584 |  |  | $ | 244 |
Summary of Basic and Diluted Earnings Per Share | The following table reconciles our basic and diluted earnings per share:
(CAD$ in millions, except per share data) |  | 2018 |  |  | 2017 (restated) |
Net basic and diluted profit attributable to shareholders of the company |  | $ | 3,107 |  |  | $ | 2,460 |
Weighted average shares outstanding (000’s) |  |  | 573,905 |  |  |  | 577,482 |
Dilutive effect of share options |  |  | 8,233 |  |  |  | 8,910 |
Weighted average diluted shares outstanding (000’s) |  |  | 582,138 |  |  |  | 586,392 |
Basic earnings per share |  | $ | 5.41 |  |  | $ | 4.26 |
Diluted earnings per share |  | $ | 5.34 |  |  | $ | 4.19 |

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