Shareholders' equity

12 Months Ended

Dec. 31, 2024

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, 2024, no First or Second Preferred Shares had been issued.

The following table summarizes information related to Common Share balances:

(number of shares in millions)	2024	2023	2022
Share capital, January 1	932.1	930.5	929.7
Common Shares issued under stock option plans	1.4	1.6	0.8
Share capital, December 31	933.5	932.1	930.5

The change in the “Share capital” balance includes $18 million of stock-based compensation transferred from “Additional paid-in capital” (2023 - $17 million; 2022 - $9 million).