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Preferred Shares (Tables)
 12 Months Ended
Dec. 31, 2019
Share Capital, Reserves And Other Equity Interest [Abstract]  
Issued and outstanding TransAlta is authorized to issue an unlimited number of voting common shares without nominal or par value.
As at Dec. 3120192018
 
Common
shares
 (millions)
Amount
Common
shares
(millions)
Amount
Issued and outstanding, beginning of year284.6  3,059  287.9  3,094  
Purchased and cancelled under the NCIB(7.7) (83) (3.3) (35) 
Stock options exercised0.1  2  —  —  
Issued and outstanding, end of year277.0  2,978  284.6  3,059  
The following are the effects of the Corporation's purchase and cancellation of the common shares during the year:
For the year ended Dec. 3120192018
Total shares purchased(1)
7,716,300  3,264,500  
Average purchase price per share$8.80  $7.02  
Total cost68  23  
Weighted average book value of shares cancelled83  35  
Amount recorded in deficit15  12  
All preferred shares issued and outstanding are non-voting cumulative redeemable fixed rate first preferred shares.
As at Dec. 3120192018
Series
Number of shares
 (millions)
Amount
Number of shares
(millions)
Amount
Series A10.2  248  10.2  248  
Series B1.8  45  1.8  45  
Series C11.0  269  11.0  269  
Series E9.0  219  9.0  219  
Series G6.6  161  6.6  161  
Issued and outstanding, end of year38.6  942  38.6  942  
Characteristics specific to preferred share series
Characteristics specific to each first preferred share series as at Dec. 31, 2019, are as follows:
SeriesRate during term
Annual dividend
rate per share ($)
Next
conversion
date
Rate spread
over Benchmark
 (per cent)
Convertible to
Series
AFixed0.67725  March 31, 20212.03  B
BFloating0.93575  March 31, 20212.03  A
CFixed1.00675  June 30, 20223.10  D
DFloating—  —  3.10  C
EFixed1.29850  Sept. 30, 20223.65  F
FFloating—  —  3.65  E
GFixed1.32500  Sept. 30, 20243.80  H
HFloating—  —  3.80  G
Disclosure Of Dividends Declared On Preference Shares [Table Text Block]
The following table summarizes the value of preferred share dividends declared in 2019, 2018 and 2017:
 Total dividends declared
Series201920182017
A5  9  5  
B1  1  1  
C8  14  9  
E9  15  8  
G7  11  7  
Total for the year30  50  30