Common shares (Tables)

3 Months Ended

Mar. 31, 2024

Equity [Abstract]

Summary of common shares

	As at Mar 31	As at Dec 31
thousands of shares	2024	2023
Authorized	1,100,000	1,100,000
Outstanding	535,837	535,837

Common share activities

The company’s common share activities are summarized below:

	Thousands of  shares	Millions of  dollars
Balance as at December 31, 2022	584,153	1,079
Purchases at stated value	(48,316)	(87)
Balance as at December 31, 2023	535,837	992
Purchases at stated value	—	—
Balance as at March 31, 2024	535,837	992

Calculation of basic and diluted earnings per share

The following table provides the calculation of basic and diluted earnings per common share and the dividends declared by the company on its outstanding common shares:

	Three Months     to March 31
	2024	2023
Net income (loss) per common share – basic
Net income (loss) (millions of Canadian dollars)	1,195	1,248
Weighted-average number of common shares outstanding (millions of shares)	535.8	584.2
Net income (loss) per common share (dollars)	2.23	2.14
Net income (loss) per common share – diluted
Net income (loss) (millions of Canadian dollars)	1,195	1,248
Weighted-average number of common shares outstanding (millions of shares)	535.8	584.2
Effect of employee share-based awards (millions of shares)	1.1	1.2
Weighted-average number of common shares outstanding,         assuming dilution (millions of shares)	536.9	585.4
Net income (loss) per common share (dollars)	2.23	2.13
Dividends per common share – declared (dollars)	0.60	0.44