XML 99 R64.htm IDEA: XBRL DOCUMENT v3.22.4
Equity (Tables)
12 Months Ended
Dec. 31, 2022
Equity [abstract]  
Summary of Class A Common Shares and Class B Subordinate Voting Shares Issued and Outstanding Class A Common Shares and Class B Subordinate Voting Shares Issued and Outstanding
Shares (in 000’s)Class A
Common Shares
Class B Subordinate Voting
Shares
As at January 1, 2021
7,765 523,381 
Shares issued on options exercised (c)— 3,067 
As at December 31, 20217,765 526,448 
Shares issued on options exercised (c)— 10,209 
Acquired and cancelled pursuant to normal course issuer bid (h)— (30,703)
As at December 31, 20227,765 505,954 
Summary of Weighted Average Assumptions
The weighted average fair value of share options granted in the year was estimated at $17.13 per option (2021 – $10.83) at the grant date based on the Black-Scholes option-pricing model using the following assumptions:

20222021
Weighted average exercise price$45.51$29.04
Dividend yield1.10 %0.69 %
Risk-free interest rate1.50 %0.75 %
Expected option life6.1 years6.3 years
Expected volatility41 %40 %
Forfeiture rate1.43 %0.78 %
Summary of Outstanding Share Options
Outstanding share options are as follows:

 20222021
Share
Options
(in 000’s)
Weighted
Average
Exercise Price
Share
Options
(in 000’s)
Weighted
Average
Exercise Price
Outstanding at beginning of year23,680 $21.12 25,250 $20.61 
Granted1,729 45.512,519 29.04
Exercised(10,117)23.16(3,189)16.03
Forfeited(216)32.26(186)25.43
Expired(19)26.75(714)52.86
Outstanding at end of year15,057 $22.38 23,680 $21.12 
Vested and exercisable at end of year9,854 $19.04 16,543 $21.29 
Summary of Information Relating to Share Options Outstanding
Information relating to share options outstanding at December 31, 2022, is as follows:

Outstanding Share Options (in 000’s)Exercise
Price Range
Weighted Average Remaining Life
of Outstanding Options (months)
2,382
$5.34 - $13.57
37
3,301
$13.58 - $14.71
86
3,119
 $14.72 - $27.29
37
3,828
 $27.30 - $29.43
80
2,427
 $29.44 - $50.68
94
15,057
$5.34 - $50.68
68
Summary of Exercise Price Range for Share Options
Information relating to share options outstanding at December 31, 2022, is as follows:

Outstanding Share Options (in 000’s)Exercise
Price Range
Weighted Average Remaining Life
of Outstanding Options (months)
2,382
$5.34 - $13.57
37
3,301
$13.58 - $14.71
86
3,119
 $14.72 - $27.29
37
3,828
 $27.30 - $29.43
80
2,427
 $29.44 - $50.68
94
15,057
$5.34 - $50.68
68
Summary of Outstanding Units
The outstanding Units are summarized in the following table:

(in 000’s)20222021
 OutstandingVestedOutstandingVested
DSUs2,129 2,129 2,526 2,526 
RSUs2,203  2,707 — 
PSUs1,072  1,622 — 
PDSUs227 177 185 67 
5,631 2,306 7,040 2,593 
Summary of Accumulated Other Comprehensive Income (Loss) Accumulated Other Comprehensive Income
(CAD$ in millions)20222021
Accumulated other comprehensive income – beginning of year$202 $247 
Currency translation differences:
Unrealized gain (loss) on translation of foreign subsidiaries822 (50)
       Foreign exchange differences on debt designated as a hedge of our
          investment in foreign subsidiaries (net of taxes of $9 and $(2)) (Note 30(b))
(56)11 
766 (39)
Gain (loss) on marketable equity and debt securities (net of taxes of $(14) and $1)
93 (6)
Share of other comprehensive income of associates and joint ventures1  
Remeasurements of retirement benefit plans (net of taxes of $13 and $(91))
(45)171 
Total other comprehensive income815 126 
Less remeasurements of retirement benefit plans recorded in retained earnings45 (171)
Accumulated other comprehensive income – end of year$1,062 $202 
Summary of Basic and Diluted Earnings Per Share
The following table reconciles our basic and diluted earnings (loss) per share:

(CAD$ in millions, except per share data)20222021
Net basic and diluted profit from continuing operations$4,070 $3,170 
Net basic and diluted profit (loss) attributable to non-controlling interest(19)47 
Net basic and diluted profit attributable to shareholders of the company from continuing operations4,089 3,123 
Net basic and diluted loss attributable to shareholders of the company from discontinued operations(772)(255)
Total basic and diluted profit attributable to shareholders of the company$3,317 $2,868 
Weighted average shares outstanding (000’s)526,718 532,340 
Dilutive effect of share options9,136 7,931 
Weighted average diluted shares outstanding (000’s)535,854 540,271 
Earnings per share from continuing operations
Basic$7.77 $5.87 
Diluted$7.63 $5.78 
Earnings (loss) per share from discontinued operations
Basic and diluted$(1.47)$(0.48)
Basic earnings per share$6.30 $5.39 
Diluted earnings per share$6.19 $5.31