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INTERIM CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY - CAD ($)
shares in Millions, $ in Millions
Total
Total shareholders’ equity
Share capital
Additional paid-in capital
Accumulated other comprehensive income (loss)
Retained earnings
Non-controlling interest
Beginning balance (shares) at Dec. 31, 2023     932.1        
Beginning balance at Dec. 31, 2023 $ 42,411 $ 41,492 $ 25,602 $ 88 $ (618) $ 16,420 $ 919
Increase (Decrease) in Stockholders' Equity [Roll Forward]              
Net income 2,514 2,517       2,517 (3)
Contribution from non-controlling interest 2           2
Other comprehensive income (loss) 609 590     590   19
Dividends declared (532) (532)       (532)  
Effect of stock-based compensation expense 20 20   20      
Shares issued under stock option plan (shares)     1.2        
Shares issued under stock option plan 56 56 $ 70 (14)      
Ending balance (shares) at Sep. 30, 2024     933.3        
Ending balance at Sep. 30, 2024 45,080 44,143 $ 25,672 94 (28) 18,405 937
Beginning balance (shares) at Jun. 30, 2024     933.1        
Beginning balance at Jun. 30, 2024 44,823 43,872 $ 25,655 93 379 17,745 951
Increase (Decrease) in Stockholders' Equity [Roll Forward]              
Net income 837 837       837 0
Contribution from non-controlling interest 1           1
Other comprehensive income (loss) (422) (407)     (407)   (15)
Dividends declared (177) (177)       (177)  
Effect of stock-based compensation expense 4 4   4      
Shares issued under stock option plan (shares)     0.2        
Shares issued under stock option plan 14 14 $ 17 (3)      
Ending balance (shares) at Sep. 30, 2024     933.3        
Ending balance at Sep. 30, 2024 45,080 44,143 $ 25,672 94 (28) 18,405 937
Beginning balance (shares) at Dec. 31, 2024     933.5        
Beginning balance at Dec. 31, 2024 48,890 47,892 $ 25,689 94 2,680 19,429 998
Increase (Decrease) in Stockholders' Equity [Roll Forward]              
Net income 3,060 3,064       3,064 (4)
Contribution from non-controlling interest 1           1
Other comprehensive income (loss) (1,112) (1,078)     (1,078)   (34)
Dividends declared (592) (592)       (592)  
Effect of stock-based compensation expense 25 25   25      
Common Shares repurchased (in shares)     (33.4)        
Common Shares repurchased (3,665) (3,665) $ (939)     (2,726)  
Shares issued under stock option plan (shares)     1.0        
Shares issued under stock option plan 52 52 $ 65 (13)      
Ending balance (shares) at Sep. 30, 2025     901.1        
Ending balance at Sep. 30, 2025 46,659 45,698 $ 24,815 106 1,602 19,175 961
Beginning balance (shares) at Jun. 30, 2025     917.9        
Beginning balance at Jun. 30, 2025 47,147 46,204 $ 25,285 105 951 19,863 943
Increase (Decrease) in Stockholders' Equity [Roll Forward]              
Net income 917 920       920 (3)
Other comprehensive income (loss) 672 651     651   21
Dividends declared (205) (205)       (205)  
Effect of stock-based compensation expense 5 5   5      
Common Shares repurchased (in shares)     (17.0)        
Common Shares repurchased (1,892) (1,892) $ (489)     (1,403)  
Shares issued under stock option plan (shares)     0.2        
Shares issued under stock option plan 15 15 $ 19 (4)      
Ending balance (shares) at Sep. 30, 2025     901.1        
Ending balance at Sep. 30, 2025 $ 46,659 $ 45,698 $ 24,815 $ 106 $ 1,602 $ 19,175 $ 961