XML 60 R37.htm IDEA: XBRL DOCUMENT

EQUITY (Tables)

6 Months Ended

Jun. 30, 2021

Disclosure of components of common equity

The company’s common equity is comprised of the following:


AS AT JUN. 30, 2021 AND DEC. 31, 2020 (MILLIONS)	2021		2020
Common shares	$	7,385	$	7,368
Contributed surplus	302		285
Retained earnings	16,168		15,178
Ownership changes	3,595		2,691
Accumulated other comprehensive income	5,919		6,171
Common equity	$	33,369	$	31,693

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, 2021 AND DEC. 31, 2020	2021	20201
Class A shares2	1,506,623,821	1,510,635,291
Class B shares	85,120	85,120
Shares outstanding2	1,506,708,941	1,510,720,411
Unexercised options, other share-based plans3 and exchangeable shares of affiliate	80,654,203	62,975,947
Total diluted shares	1,587,363,144	1,573,696,358

1.2020 adjusted to reflect the three-for-two stock split effective on April 1, 2020.

2.Net of 69,921,784 Class A shares held by the company in respect of long-term compensation agreements as at June 30, 2021 (December 31, 2020 – 64,197,815).

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	2021	20201	2021	20201
Outstanding, beginning of period2	1,510,021,253	1,513,055,374	1,510,720,411	1,509,293,641
Issued (repurchased)

Repurchases	(4,177,571)	(2,618,685)	(6,669,992)	(5,513,309)
Long-term share ownership plans3	842,404	1,034,483	2,598,054	7,622,148
Dividend reinvestment plan and others	22,855	58,377	60,468	127,069
Outstanding, end of period4	1,506,708,941	1,511,529,549	1,506,708,941	1,511,529,549

1.2020 adjusted to reflect the three-for-two stock split effective on April 1, 2020.

2.Net of 65,816,784 Class A shares held by the company in respect of long-term compensation agreements as at March 31, 2021 (March 31, 2020 – 58,434,060) and 64,197,815 as at December 31, 2020 (December 31, 2019 – 63,417,346).

3.Includes management share option plan and restricted stock plan.

4.Net of 69,921,784 Class A shares held by the company in respect of long-term compensation agreements as at June 30, 2021 (June 30, 2020 – 61,032,215).

Schedule of basic and diluted earnings per share

The components of basic and diluted earnings per share are summarized in the following table:


FOR THE PERIODS ENDED JUN. 30 (MILLIONS)	Three Months Ended				Six Months Ended
	2021		2020		2021		2020
Net income (loss) attributable to shareholders	$	816	$	(656)	$	2,051	$	(949)
Preferred share dividends	(38)		(36)		(75)		(71)
Dilutive effect of conversion of subsidiary preferred shares	(14)		49		(25)		68
Net income (loss) available to shareholders	$	764	$	(643)	$	1,951	$	(952)


FOR THE PERIODS ENDED JUN. 30 (MILLIONS)	Three Months Ended		Six Months Ended
	2021	20201	2021	20201





Weighted average – Class A and Class B shares	1,508.2	1,512.1	1,509.3	1,511.7
Dilutive effect of conversion of options and escrowed shares using treasury stock method and exchangeable shares of affiliate	41.8	—	38.0	—
Class A and Class B shares and share equivalents	1,550.0	1,512.1	1,547.3	1,511.7

1.2020 adjusted to reflect the three-for-two stock split effective on April 1, 2020.