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Equity (Tables)
12 Months Ended
Dec. 31, 2023
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, 2022
7,765 526,448 
Shares issued on options exercised (d)
— 10,209 
Acquired and cancelled pursuant to normal course issuer bid (i)
— (30,703)
As at December 31, 20227,765 505,954 
Class A common shares conversion
(110)110 
Shares issued on dual class amendment (b)
— 5,203 
Shares issued on options exercised (d)
— 3,139 
Acquired and cancelled pursuant to normal course issuer bid (i)
— (4,738)
As at December 31, 20237,655 509,668 
Summary of Weighted Average Assumptions
The weighted average fair value of share options granted in the year was estimated at $22.69 per option (2022 – $17.13) at the grant date based on the Black-Scholes option-pricing model using the following assumptions:

20232022
Weighted average exercise price$54.66$45.51
Dividend yield0.92 %1.10 %
Risk-free interest rate3.52 %1.50 %
Expected option life5.9 years6.1 years
Expected volatility42 %41 %
Forfeiture rate1.93 %1.43 %
Summary of Outstanding Share Options
Outstanding share options are as follows:

 20232022
Share
Options
(in 000’s)
Weighted
Average
Exercise Price
Share
Options
(in 000’s)
Weighted
Average
Exercise Price
Outstanding at beginning of year15,057 $22.38 23,680 $21.12 
Granted1,383 54.66 1,729 45.51 
Exercised(3,117)20.07 (10,117)23.16 
Forfeited(252)44.32 (216)32.26 
Expired(4)26.70 (19)26.75 
Outstanding at end of year13,067 $25.92 15,057 $22.38 
Vested and exercisable at end of year10,018 $20.04 9,854 $19.04 
Summary of Information Relating to Share Options Outstanding
Information relating to share options outstanding at December 31, 2023, is as follows:

Outstanding Share Options (in 000’s)Exercise
Price Range
Weighted Average Remaining Life
of Outstanding Options (months)
1,787
$5.34 – $13.57
25
2,571
$13.58 – $17.14
66
3,020
 $17.15 – $28.05
29
2,997
 $28.06 – $39.89
67
2,692
 $39.90 – $63.11
100
13,067
$5.34 – $63.11
59
Summary of Exercise Price Range for Share Options
Information relating to share options outstanding at December 31, 2023, is as follows:

Outstanding Share Options (in 000’s)Exercise
Price Range
Weighted Average Remaining Life
of Outstanding Options (months)
1,787
$5.34 – $13.57
25
2,571
$13.58 – $17.14
66
3,020
 $17.15 – $28.05
29
2,997
 $28.06 – $39.89
67
2,692
 $39.90 – $63.11
100
13,067
$5.34 – $63.11
59
Summary of Outstanding Units
The outstanding Units are summarized in the following table:

(in 000’s)20232022
 OutstandingVestedOutstandingVested
DSUs1,837 1,837 2,129 2,129 
RSUs1,336  2,203 — 
PSUs656  1,072 — 
PDSUs253 219 227 177 
4,082 2,056 5,631 2,306 
Summary of Accumulated Other Comprehensive Income (Loss)
(CAD$ in millions)20232022
Accumulated other comprehensive income – beginning of year
$1,062 $202 
Currency translation differences:
Unrealized gain (loss) on translation of foreign subsidiaries
(421)822 
       Foreign exchange differences on debt designated as a hedge of our
          investment in foreign subsidiaries (net of taxes of $(9) and $9) (Note 31(b))
56 (56)
(365)766 
Gain (loss) on marketable equity and debt securities (net of taxes of $1 and $(14))
(4)93 
Share of other comprehensive income of joint venture
 
Remeasurements of retirement benefit plans (net of taxes of $(68) and $13)
151 (45)
Total other comprehensive income (loss)
(218)815 
Less remeasurements of retirement benefit plans recorded in retained earnings(151)45 
Accumulated other comprehensive income – end of year
$693 $1,062 
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)20232022
Net basic and diluted profit from continuing operations
$2,334 $4,070 
Net basic and diluted loss attributable to non-controlling interest
(101)(19)
Net basic and diluted profit attributable to shareholders of the company from
continuing operations
2,435 4,089 
Net basic and diluted loss attributable to shareholders of the company from
discontinued operations
(26)(772)
Total basic and diluted profit attributable to shareholders of the company
$2,409 $3,317 
Weighted average shares outstanding (000’s)517,828 526,718 
Dilutive effect of share options7,516 9,136 
Weighted average diluted shares outstanding (000’s)525,344 535,854 
Earnings per share from continuing operations
Basic$4.70 $7.77 
Diluted$4.64 $7.63 
Loss per share from discontinued operations
Basic and diluted$(0.05)$(1.47)
Earnings per share
Basic earnings per share
$4.65 $6.30 
Diluted earnings per share
$4.59 $6.19