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Shareholders' equity
 12 Months Ended
Dec. 31, 2022
Equity [Abstract]  
Shareholders' equity Shareholders’ equity
Authorized and issued share capital
The Company is authorized to issue an unlimited number of Common Shares, an unlimited number of First Preferred Shares, and an unlimited number of Second Preferred Shares. As at December 31, 2022, no First or Second Preferred Shares had been issued.

The following table summarizes information related to Common Share balances as at December 31:

(number of shares in millions)202220212020
Share capital, January 1929.7 666.3 685.0 
Common Shares repurchased— — (20.4)
Shares issued under stock option plan0.8 0.8 1.7 
   Shares issued for KCS acquisition (Note 10)
— 262.6 — 
Share capital, December 31930.5 929.7 666.3 

The change in the “Share capital” balance includes $9 million of stock-based compensation transferred from “Additional paid-in capital” (2021 – $7 million; 2020 – $10 million).
Share repurchases
In connection with the KCS transaction, the Company suspended share repurchases and did not have an active program as at December 31, 2022.

On January 27, 2021, the Company announced a NCIB, commencing January 29, 2021, to purchase up to 16.7 million Common Shares in the open market for cancellation on or before January 28, 2022. The Company did not purchase any Common Shares under this NCIB.

On December 17, 2019, the Company announced a NCIB, commencing December 20, 2019, to purchase up to 24.0 million Common Shares in the open market for cancellation on or before December 19, 2020. Upon expiry of this NCIB, the Company had purchased 21.4 million Common Shares for $1,577 million.

The following table provides activities under the share repurchase programs for each of the years ended December 31:

 202220212020
Number of Common Shares repurchased(1)
— — 19,865,380 
Weighted-average price per share(2)
$— $— $74.35 
Amount of repurchase (in millions)(2)
$— $— $1,477 
(1) Includes shares repurchased but not yet cancelled at year end.
(2) Includes brokerage fees.