Earnings per share

12 Months Ended

Dec. 31, 2022

Earnings Per Share [Abstract]

Earnings per share

Earnings per share

(in millions of Canadian dollars, except per share data)	2022		2021		2020
Net income	$	3,517	$	2,852	$	2,444
Weighted-average basic shares outstanding (millions)	930.0		679.7		677.2
Dilutive effect of stock options (millions)	2.9		3.1		2.7
Weighted-average diluted shares outstanding (millions)	932.9		682.8		679.9
Earnings per share – basic	$	3.78	$	4.20	$	3.61
Earnings per share – diluted	$	3.77	$	4.18	$	3.59

In 2022, there were 0.3 million options excluded from the computation of diluted earnings per share because their effects were not dilutive (2021 – 0.1 million; 2020 – nil).