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Equity (Tables) | 12 Months Ended
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Dec. 31, 2022
Equity [abstract] |
Summary of Class A Common Shares and Class B Subordinate Voting Shares Issued and Outstanding | Class A Common Shares and Class B Subordinate Voting Shares Issued and Outstanding
Shares (in 000’s) |  | Class A Common Shares |  | Class B Subordinate Voting Shares
As at January 1, 2021 |  | 7,765 |  |  | 523,381 |
Shares issued on options exercised (c) |  | — |  |  | 3,067 |
As at December 31, 2021 |  | 7,765 |  |  | 526,448 |
Shares issued on options exercised (c) |  | — |  |  | 10,209 |
Acquired and cancelled pursuant to normal course issuer bid (h) |  | — |  |  | (30,703) |
As at December 31, 2022 |  | 7,765 |  |  | 505,954 |
Summary of Weighted Average Assumptions | The weighted average fair value of share options granted in the year was estimated at $17.13 per option (2021 – $10.83) at the grant date based on the Black-Scholes option-pricing model using the following assumptions:
|  | 2022 |  | 2021
Weighted average exercise price |  | $ | 45.51 |  | $ | 29.04
Dividend yield |  | 1.10 | % |  | 0.69 | %
Risk-free interest rate |  | 1.50 | % |  | 0.75 | %
Expected option life |  | 6.1 years |  | 6.3 years
Expected volatility |  | 41 | % |  | 40 | %
Forfeiture rate |  | 1.43 | % |  | 0.78 | %
Summary of Outstanding Share Options | Outstanding share options are as follows:
|  | 2022 |  | 2021
|  | Share Options (in 000’s) |  | Weighted Average Exercise Price |  | Share Options (in 000’s) |  | Weighted Average Exercise Price
Outstanding at beginning of year |  | 23,680 |  |  | $ | 21.12 |  |  | 25,250 |  |  | $ | 20.61 |
Granted |  | 1,729 |  |  | 45.51 |  | 2,519 |  |  | 29.04
Exercised |  | (10,117) |  |  | 23.16 |  | (3,189) |  |  | 16.03
Forfeited |  | (216) |  |  | 32.26 |  | (186) |  |  | 25.43
Expired |  | (19) |  |  | 26.75 |  | (714) |  |  | 52.86
Outstanding at end of year |  | 15,057 |  |  | $ | 22.38 |  |  | 23,680 |  |  | $ | 21.12 |
Vested and exercisable at end of year |  | 9,854 |  |  | $ | 19.04 |  |  | 16,543 |  |  | $ | 21.29 |
Summary of Information Relating to Share Options Outstanding | Information relating to share options outstanding at December 31, 2022, is as follows:
Outstanding Share Options (in 000’s) |  | Exercise Price Range |  | Weighted Average Remaining Life of Outstanding Options (months)
2,382 |  | $5.34 - $13.57 |  | 37
3,301 |  | $13.58 - $14.71 |  | 86
3,119 |  | $14.72 - $27.29 |  | 37
3,828 |  | $27.30 - $29.43 |  | 80
2,427 |  | $29.44 - $50.68 |  | 94
15,057 |  | $5.34 - $50.68 |  | 68
Summary of Exercise Price Range for Share Options | Information relating to share options outstanding at December 31, 2022, is as follows:
Outstanding Share Options (in 000’s) |  | Exercise Price Range |  | Weighted Average Remaining Life of Outstanding Options (months)
2,382 |  | $5.34 - $13.57 |  | 37
3,301 |  | $13.58 - $14.71 |  | 86
3,119 |  | $14.72 - $27.29 |  | 37
3,828 |  | $27.30 - $29.43 |  | 80
2,427 |  | $29.44 - $50.68 |  | 94
15,057 |  | $5.34 - $50.68 |  | 68
Summary of Outstanding Units | The outstanding Units are summarized in the following table:
(in 000’s) |  | 2022 |  | 2021
|  | Outstanding |  | Vested |  | Outstanding |  | Vested
DSUs |  | 2,129 |  |  | 2,129 |  |  | 2,526 |  |  | 2,526 |
RSUs |  | 2,203 |  |  | — |  |  | 2,707 |  |  | — |
PSUs |  | 1,072 |  |  | — |  |  | 1,622 |  |  | — |
PDSUs |  | 227 |  |  | 177 |  |  | 185 |  |  | 67 |
|  | 5,631 |  |  | 2,306 |  |  | 7,040 |  |  | 2,593 |
Summary of Accumulated Other Comprehensive Income (Loss) | Accumulated Other Comprehensive Income
(CAD$ in millions) |  | 2022 |  | 2021
Accumulated other comprehensive income – beginning of year |  | $ | 202 |  |  | $ | 247 |
Currency translation differences: |  |  |  |
Unrealized gain (loss) on translation of foreign subsidiaries |  | 822 |  |  | (50) |
Foreign exchange differences on debt designated as a hedge of our investment in foreign subsidiaries (net of taxes of $9 and $(2)) (Note 30(b)) |  | (56) |  |  | 11 |
|  | 766 |  |  | (39) |
Gain (loss) on marketable equity and debt securities (net of taxes of $(14) and $1) |  | 93 |  |  | (6) |
Share of other comprehensive income of associates and joint ventures |  | 1 |  |  | — |
Remeasurements of retirement benefit plans (net of taxes of $13 and $(91)) |  | (45) |  |  | 171 |
Total other comprehensive income |  | 815 |  |  | 126 |
Less remeasurements of retirement benefit plans recorded in retained earnings |  | 45 |  |  | (171) |
Accumulated other comprehensive income – end of year |  | $ | 1,062 |  |  | $ | 202 |
Summary of Basic and Diluted Earnings Per Share | The following table reconciles our basic and diluted earnings (loss) per share:
(CAD$ in millions, except per share data) |  | 2022 |  | 2021
Net basic and diluted profit from continuing operations |  | $ | 4,070 |  |  | $ | 3,170 |
Net basic and diluted profit (loss) attributable to non-controlling interest |  | (19) |  |  | 47 |
Net basic and diluted profit attributable to shareholders of the company from continuing operations |  | 4,089 |  |  | 3,123 |
Net basic and diluted loss attributable to shareholders of the company from discontinued operations |  | (772) |  |  | (255) |
Total basic and diluted profit attributable to shareholders of the company |  | $ | 3,317 |  |  | $ | 2,868 |
Weighted average shares outstanding (000’s) |  | 526,718 |  |  | 532,340 |
Dilutive effect of share options |  | 9,136 |  |  | 7,931 |
Weighted average diluted shares outstanding (000’s) |  | 535,854 |  |  | 540,271 |
Earnings per share from continuing operations |  |  |  |
Basic |  | $ | 7.77 |  |  | $ | 5.87 |
Diluted |  | $ | 7.63 |  |  | $ | 5.78 |
Earnings (loss) per share from discontinued operations |  |  |  |
Basic and diluted |  | $ | (1.47) |  |  | $ | (0.48) |
Basic earnings per share |  | $ | 6.30 |  |  | $ | 5.39 |
Diluted earnings per share |  | $ | 6.19 |  |  | $ | 5.31 |

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