XML 55 R30.htm IDEA: XBRL DOCUMENT v3.20.2
EQUITY (Tables)
 3 Months Ended 6 Months Ended
Jun. 30, 2020
Jun. 30, 2020
Common [Table]    
Disclosure of components of common equity
The company’s common equity is comprised of the following:
AS AT JUN. 30, 2020 AND DEC. 31, 2019
(MILLIONS)
2020

 
2019

Common shares
$
7,345

 
$
7,305

Contributed surplus
267

 
286

Retained earnings
14,723

 
16,026

Ownership changes
1,178

 
1,010

Accumulated other comprehensive income
4,412

 
6,241

Common equity
$
27,925

 
$
30,868

  
Schedule of equity  
The number of issued and outstanding Class A and Class B shares and unexercised options are as follows:
AS AT JUN. 30, 2020 AND DEC. 31, 2019
2020

 
20191

Class A shares2
1,511,444,429

 
1,509,208,521

Class B shares
85,120

 
85,120

Shares outstanding2
1,511,529,549

 
1,509,293,641

Unexercised options and other share-based plans3
60,336,551

 
70,018,161

Total diluted shares
1,571,866,100

 
1,579,311,802

1.
Adjusted to reflect the three-for-two stock split effective on April 1, 2020.
2.
Net of 61,032,215 Class A shares held by the company in respect of long-term compensation agreements as at June 30, 2020 (December 31, 2019 – 63,417,346).
3.
Includes management share option plan and escrowed stock plan
Shares issued and outstanding changed as follows:
 
Three Months Ended
 
Six Months Ended
FOR THE PERIODS ENDED JUN. 30
(MILLIONS)
20201

 
20191

 
20201

 
20191

Outstanding, beginning of period2
1,513,055,374

 
1,432,967,575

 
1,509,293,641

 
1,432,714,261

Issued (repurchased)
 
 
 
 
 
 
 
Repurchases
(2,618,685
)
 
(1,765,020
)
 
(5,513,309
)
 
(3,214,212
)
Long-term share ownership plans3
1,034,483

 
2,541,521

 
7,622,148

 
4,180,865

Dividend reinvestment plan and others
58,377

 
53,718

 
127,069

 
116,880

Outstanding, end of period4
1,511,529,549


1,433,797,794

 
1,511,529,549


1,433,797,794

1.
Adjusted to reflect the three-for-two stock split effective on April 1, 2020.
2.
Net of 58,434,060 Class A shares held by the company in respect of long-term compensation agreements as at March 31, 2020 (March 31, 2019 – 56,644,846) and 63,417,346 as at December 31, 2019 (December 31, 2018 – 56,307,796).
3.
Includes management share option plan and restricted stock plan.
4.
Net of 61,032,215 Class A shares held by the company in respect of long-term compensation agreements as at June 30, 2020 (June 30, 2019 – 58,393,135).
Schedule of basic and diluted earnings per share  
The components of basic and diluted earnings per share are summarized in the following table:
 
Three Months Ended
 
Six Months Ended
FOR THE PERIODS ENDED JUN. 30
(MILLIONS)
2020

 
2019

 
2020

 
2019

Net (loss) income attributable to shareholders
$
(656
)
 
$
399

 
$
(949
)
 
$
1,014

Preferred share dividends
(36
)
 
(38
)
 
(71
)
 
(75
)
Dilutive effect of conversion of subsidiary preferred shares
49

 
(5
)
 
68

 
(18
)
Net (loss) income available to shareholders
$
(643
)

$
356

 
$
(952
)

$
921


 
Three Months Ended
 
Six Months Ended
FOR THE PERIODS ENDED JUN. 30
(MILLIONS)
20201

 
20191

 
20201

 
20191

Weighted average – Class A and Class B shares
1,512.1

 
1,433.3

 
1,511.7

 
1,433.2

Dilutive effect of the conversion of options and escrowed shares using treasury stock method
—

 
34.1

 
—

 
31.8

Class A and Class B shares and share equivalents
1,512.1

 
1,467.4

 
1,511.7

 
1,465.0

1.
Adjusted to reflect the three-for-two stock split effective on April 1, 2020.