Shareholders' Equity

9 Months Ended

Sep. 30, 2017

Equity [Abstract]

Shareholders' Equity

Shareholders' equity

On May 10, 2017, the Company announced a new normal course issuer bid ("bid"), commencing May 15, 2017, to purchase up to 4.38 million Common Shares for cancellation before May 14, 2018.

All purchases are made in accordance with the bid at prevalent market prices plus brokerage fees, or such other prices that may be permitted by the Toronto Stock Exchange, with consideration allocated to share capital up to the average carrying amount of the shares, and any excess allocated to retained earnings. The following table provides activities under the share repurchase program:

	For the three months ended September 30				For the nine months ended September 30
	2017		2016		2017		2016
Number of Common Shares repurchased	1,145,400		1,782,200		1,828,300		6,910,000
Weighted-average price per share(1)	$	196.46	$	192.10	$	201.50	$	175.08
Amount of repurchase (in millions)(1)	$	225	$	342	$	368	$	1,210

⁽¹⁾ Includes brokerage fees.