XML 91 R73.htm IDEA: XBRL DOCUMENT
v3.25.0.1

Stock Based Compensation (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2024
Stock-Based Compensation [Abstract] |
Weighted Average Fair Values per Stock Option and Assumptions for Options Granted | 2024 2023 Weighted average FV per option $ 4.66 $ 6.32 Expected term (1) 5 years 5 years Risk-free interest rate (2) 3.56 % 3.53 % Expected dividend yield (3) 6.11 % 5.05 % Expected volatility (4) 20.67 % 20.07 % (1) The expected term of the option awards is calculated based on historical exercise behaviour and represents the period of time that the options are expected to be outstanding. (2) Based on the Bank of Canada five-year government bond yields. (3) Incorporates current dividend rates and historical dividend increase patterns. (4) Estimated using the five-year historical volatility.
Summary of Stock Option Information | Total Options Non-Vested Options (1) Number of Options Weighted average exercise price per share Number of Options Weighted average grant date fair-value Outstanding as at December 31, 2023 3,095,604 $ 51.20 1,253,255 $ 5.17 Granted 792,600 46.97 792,600 4.66 Exercised (78,839) 39.86 N/A N/A Forfeited (13,325) 56.14 - N/A Vested N/A N/A (438,365) 4.58 Options outstanding December 31, 2024 3,796,040 $ 50.53 1,607,490 $ 5.08 Options exercisable December 31, 2024 (2)(3) 2,188,550 $ 50.07 (1) As at December 31, 2024, there was $ 6 million of unrecognized compensation related to stock options not yet vested which is expected to be recognized over a weighted average period of approximately 3 years (2023 – $ 5 million, 3 years). (2) As at December 31, 2024, the weighted average remaining term of vested options was 4 years with an aggregate intrinsic value of $ 11 million (2023 – 5 years, $ 8 million). (3) As at December 31, 2024, the FV of options that vested in the year was $ 2 million (2023 – $ 2 million).
Summary of Activity Related to Employee and Director Deferred Share Units | Employee DSU Weighted Average Grant Date FV Director DSU Weighted Average Grant Date FV Outstanding as at December 31, 2023 712,963 $ 42.29 729,058 $ 46.24 Granted including DRIP 86,417 45.20 134,795 48.98 Exercised (10,292) 38.77 (34,997) 36.04 Outstanding and exercisable as at December 31, 2024 789,088 $ 42.65 828,856 $ 47.12
Summary of Activity Related to Employee Performance Share Units | Employee PSU Weighted Average Grant Date FV Aggregate intrinsic value Outstanding as at December 31, 2023 743,365 $ 55.13 $ 41 Granted including DRIP 354,793 48.69 Exercised (253,136) 54.66 Forfeited (12,929) 52.53 Outstanding as at December 31, 2024 832,093 $ 52.57 $ 50
Summary of Activity Related to Employee Restricted Share Units | Employee RSU Weighted Average Grant Date FV Aggregate intrinsic value Outstanding as at December 31, 2023 562,641 $ 55.01 $ 32 Granted including DRIP 287,976 48.65 Exercised (183,241) 54.66 Forfeited (14,228) 52.45 Outstanding as at December 31, 2024 653,148 $ 52.36 $ 41

X
- References No definition available. + Details
Name: | us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of an equity-based arrangement (such as stock or unit options and stock or unit awards) with an individual employee, which is generally an employment contract between the entity and a selected officer or key employee containing a promise by the employer to pay certain equity-based awards at future dates, sometimes including a period after retirement, upon compliance with stipulated requirements. This type of arrangement is distinguished from broader based employee benefit plans as it is usually tailored to the employee. Disclosure also typically includes the amount of related compensation expense recognized during the reporting period, the number of shares or units issued during the period under such arrangements, and the carrying amount as of the balance sheet date of the related liability. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 710 -SubTopic 10 -Name Accounting Standards Codification -Section 30 -Paragraph 1 -Publisher FASB -URI https://asc.fasb.org/1943274/2147483043/710-10-30-1 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 1 -SubTopic 10 -Topic 718 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-1 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 710 -SubTopic 10 -Section 55 -Paragraph 8 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482943/710-10-55-8 + Details
Name: | us-gaap_ScheduleOfDeferredCompensationArrangementWithIndividualShareBasedPaymentsTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of number, weighted-average exercise price or conversion ratio, aggregate intrinsic value, and weighted-average remaining contractual term for outstanding performance-based awards that are fully vested and expected to vest. Includes, but is not limited to, unvested awards for which requisite service period has not been rendered but that are expected to vest based on achievement of performance condition, if forfeitures are recognized when they occur. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 718 -SubTopic 10 -Subparagraph (e)(1) -Name Accounting Standards Codification -Paragraph 2 -Section 50 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 + Details
Name: | us-gaap_ScheduleOfShareBasedCompensationArrangementByShareBasedPaymentAwardPerformanceBasedUnitsVestedAndExpectedToVestTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the change in stock options. + References No definition available. + Details
Name: | us-gaap_ScheduleOfStockOptionsRollForwardTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the change in restricted stock units (RSUs). + References No definition available. + Details
Name: | us-gaap_ScheduleOfUnvestedRestrictedStockUnitsRollForwardTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the weighted-average grant-date fair value of equity options or other equity instruments granted during the year. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (d)(1) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 + Details
Name: | us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValueTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration