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Consolidated Statements of Changes in Shareholders' Equity - CAD ($)
shares in Thousands, $ in Millions
Total
Class B Non-Voting Shares
Issued capital
Class A Voting Shares
Issued capital
Class B Non-Voting Shares
Retained earnings
FVTOCI investment reserve
Hedging reserve
Equity investment reserve
Shareholders' equity, beginning balance at Dec. 31, 2022 $ 10,092   $ 71 $ 397 $ 9,816 $ 672 $ (872) $ 8
Number of shares, beginning balance at Dec. 31, 2022     111,152 393,773        
Net income for the year 849       849      
Other comprehensive income (loss):                
Defined benefit pension plans, net of tax (147)       (147)      
FVTOCI investments, net of tax (322)         (322)    
Derivative instruments accounted for as hedges, net of tax (512)           (512)  
Share of equity-accounted investments, net of tax 2             2
Other comprehensive loss for the year (979)       (147) (322) (512) 2
Comprehensive income (loss) for the year (130)       702 (322) (512) 2
Reclassification to retained earnings for disposition of FVTOCI investments 0       367 (367)    
Transactions with shareholders recorded directly in equity:                
Dividends declared (note 26) (1,046)       (1,046)      
Shares issued as settlement of dividends (note 26) 74     $ 74        
Shares issued as consideration (note 3) 1,450     $ 1,450        
Shares issued as consideration (note 3) (in shares)       23,641        
Total transactions with shareholders 478   $ 0 $ 1,524 (1,046)      
Total transactions with shareholders (in shares)     0 25,096        
Shareholders' equity, ending balance at Dec. 31, 2023 10,440   $ 71 $ 1,921 9,839 (17) (1,384) 10
Number of shares, ending balance at Dec. 31, 2023     111,152 418,869        
Transactions with shareholders recorded directly in equity:                
Shares issued as settlement of dividends (note 26) (in shares)   1,244   1,455        
Net income for the year 1,734       1,734      
Defined benefit pension plans, net of tax 129       129      
FVTOCI investments, net of tax 10         10    
Derivative instruments accounted for as hedges, net of tax (1,167)           (1,167)  
Share of equity-accounted investments, net of tax 0              
Other comprehensive loss for the year (1,028)       129 10 (1,167) 0
Comprehensive income (loss) for the year 706       1,863 10 (1,167) 0
Dividends declared (note 26) (1,068)       (1,068)      
Share price change on DRIP dividends (4)       (4)      
Shares issued as settlement of dividends (note 26) 329     $ 329        
Total transactions with shareholders (743)   $ 0 $ 329 (1,072)      
Total transactions with shareholders (in shares)     0 6,080        
Shareholders' equity, ending balance at Dec. 31, 2024 $ 10,403   $ 71 $ 2,250 $ 10,630 $ (7) $ (2,551) $ 10
Number of shares, ending balance at Dec. 31, 2024     111,152 424,949        
Transactions with shareholders recorded directly in equity:                
Shares issued as settlement of dividends (note 26) (in shares)   1,943   6,080