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Equity (Tables) | 12 Months Ended
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Dec. 31, 2024
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
At January 1, 2023 |  | 7,765 |  |  | 505,954 |
Class A common shares conversion |  | (110) |  |  | 110 |
Shares issued on dual class amendment (b) |  | — |  |  | 5,203 |
Shares issued on options exercised (d) |  | — |  |  | 3,139 |
Cancelled pursuant to normal course issuer bid (i) |  | — |  |  | (4,738) |
At December 31, 2023 |  | 7,655 |  |  | 509,668 |
Class A common shares conversion |  | (55) |  |  | 55 |
Shares issued on options exercised (d) |  | — |  |  | 8,178 |
Cancelled pursuant to normal course issuer bid (i) |  | — |  |  | (19,158) |
At December 31, 2024 |  | 7,600 |  |  | 498,743 |
Summary of Weighted Average Assumptions | The weighted average fair value of share options granted in the year was estimated at $21.21 per option (2023 – $22.69) at the grant date based on the Black-Scholes option-pricing model using the following assumptions:
|  | 2024 |  | 2023
Weighted average exercise price |  | $ | 52.85 |  | $ | 54.66
Dividend yield |  | 0.96 | % |  | 0.92 | %
Risk-free interest rate |  | 3.46 | % |  | 3.52 | %
Expected option life |  | 5.8 years |  | 5.9 years
Expected volatility |  | 42 | % |  | 42 | %
Summary of Outstanding Share Options | Outstanding share options are as follows:
|  | 2024 |  | 2023
|  | Share Options (in 000’s) |  | Weighted Average Exercise Price |  | Share Options (in 000’s) |  | Weighted Average Exercise Price
Outstanding at beginning of year |  | 13,067 |  |  | $ | 25.92 |  |  | 15,057 |  |  | $ | 22.38 |
Granted |  | 1,082 |  |  | 52.85 |  |  | 1,383 |  |  | 54.66 |
Exercised |  | (8,165) |  |  | 21.07 |  |  | (3,117) |  |  | 20.07 |
Forfeited |  | (512) |  |  | 51.23 |  |  | (252) |  |  | 44.32 |
Expired |  | (5) |  |  | 27.26 |  |  | (4) |  |  | 26.70 |
Outstanding at end of year |  | 5,467 |  |  | $ | 36.12 |  |  | 13,067 |  |  | $ | 25.92 |
Vested and exercisable at end of year |  | 3,524 |  |  | $ | 27.43 |  |  | 10,018 |  |  | $ | 20.04 |
Summary of Information Relating to Share Options Outstanding | Information relating to share options outstanding at December 31, 2024, is as follows:
Outstanding Share Options (in 000’s) |  | Exercise Price Range |  | Weighted Average Remaining Life of Outstanding Options (months)
1,166 |  | $5.34 – $14.71 |  | 43
1,315 |  | $14.72 – $30.35 |  | 50
1,122 |  | $30.36 – $46.57 |  | 66
819 |  | $46.58 – $54.33 |  | 109
1,045 |  | $54.34 – $70.34 |  | 89
5,467 |  | $5.34 – $70.34 |  | 68
Summary of Exercise Price Range for Share Options | Information relating to share options outstanding at December 31, 2024, is as follows:
Outstanding Share Options (in 000’s) |  | Exercise Price Range |  | Weighted Average Remaining Life of Outstanding Options (months)
1,166 |  | $5.34 – $14.71 |  | 43
1,315 |  | $14.72 – $30.35 |  | 50
1,122 |  | $30.36 – $46.57 |  | 66
819 |  | $46.58 – $54.33 |  | 109
1,045 |  | $54.34 – $70.34 |  | 89
5,467 |  | $5.34 – $70.34 |  | 68
Summary of Outstanding Units | The outstanding Units are summarized in the following table:
(in 000’s) |  | December 31, 2024 |  | December 31, 2023
|  | Outstanding |  | Vested |  | Outstanding |  | Vested
DSUs |  | 491 |  |  | 491 |  |  | 1,837 |  |  | 1,837 |
RSUs |  | 1,307 |  |  | — |  |  | 1,336 |  |  | — |
PSUs |  | 946 |  |  | — |  |  | 656 |  |  | — |
PDSUs |  | 116 |  |  | 69 |  |  | 253 |  |  | 219 |
|  | 2,860 |  |  | 560 |  |  | 4,082 |  |  | 2,056 |
Summary of Accumulated Other Comprehensive Income (Loss) |
(CAD$ in millions) |  | 2024 |  | 2023
Accumulated other comprehensive income – beginning of year |  | $ | 693 |  |  | $ | 1,062 |
Currency translation differences: |  |  |  |
Unrealized gain (loss) on translation of foreign subsidiaries |  | 1,697 |  |  | (421) |
Foreign exchange differences on debt designated as a hedge of our investment in foreign subsidiaries (net of taxes of $7 and $(9)) (Note 34(b)) |  | (47) |  |  | 56 |
|  | 1,650 |  |  | (365) |
Gain (loss) on marketable equity and debt securities (net of taxes of $(7) and $1) |  | 54 |  |  | (4) |
Remeasurements of retirement benefit plans (net of taxes of $(30) and $(68)) |  | 46 |  |  | 151 |
Total other comprehensive income (loss) |  | 1,750 |  |  | (218) |
Remeasurements of retirement benefit plans recorded in retained earnings |  | (46) |  |  | (151) |
Accumulated other comprehensive income – end of year |  | $ | 2,397 |  |  | $ | 693 |
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) |  | 2024 |  | 2023
Loss from continuing operations attributable to shareholders of the company |  | (467) |  |  | (118) |
Profit from discontinued operations attributable to shareholders of the company (Note 5) |  | 873 |  |  | 2,527 |
Profit attributable to shareholders of the company |  | $ | 406 |  |  | $ | 2,409 |
Weighted average shares outstanding (000’s) |  | 516,011 |  |  | 517,828 |
Dilutive effect of share options (000’s) |  | 4,031 |  |  | 7,516 |
Weighted average diluted shares outstanding (000’s) |  | 520,042 |  |  | 525,344 |
Loss per share from continuing operations |  |  |  |
Basic and diluted |  | $ | (0.90) |  |  | $ | (0.23) |
Earnings per share from discontinued operations |  |  |  |
Basic |  | $ | 1.69 |  |  | $ | 4.88 |
Diluted |  | $ | 1.68 |  |  | $ | 4.81 |
Earnings per share |  |  |  |
Basic earnings per share |  | $ | 0.79 |  |  | $ | 4.65 |
Diluted earnings per share |  | $ | 0.78 |  |  | $ | 4.59 |

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