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Equity (Tables)
12 Months Ended
Dec. 31, 2024
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
At January 1, 2023
7,765 505,954 
Class A common shares conversion(110)110 
Shares issued on dual class amendment (b)
— 5,203 
Shares issued on options exercised (d)
— 3,139 
Cancelled pursuant to normal course issuer bid (i)
— (4,738)
At December 31, 20237,655 509,668 
Class A common shares conversion
(55)55 
Shares issued on options exercised (d)
— 8,178 
Cancelled pursuant to normal course issuer bid (i)
— (19,158)
At December 31, 20247,600 498,743 
Summary of Weighted Average Assumptions
The weighted average fair value of share options granted in the year was estimated at $21.21 per option (2023 – $22.69) at the grant date based on the Black-Scholes option-pricing model using the following assumptions:

20242023
Weighted average exercise price$52.85$54.66
Dividend yield0.96 %0.92 %
Risk-free interest rate3.46 %3.52 %
Expected option life5.8 years5.9 years
Expected volatility42 %42 %
Summary of Outstanding Share Options
Outstanding share options are as follows:

 20242023
Share
Options
(in 000’s)
Weighted
Average
Exercise Price
Share
Options
(in 000’s)
Weighted
Average
Exercise Price
Outstanding at beginning of year13,067 $25.92 15,057 $22.38 
Granted1,082 52.85 1,383 54.66 
Exercised(8,165)21.07 (3,117)20.07 
Forfeited(512)51.23 (252)44.32 
Expired(5)27.26 (4)26.70 
Outstanding at end of year5,467 $36.12 13,067 $25.92 
Vested and exercisable at end of year3,524 $27.43 10,018 $20.04 
Summary of Information Relating to Share Options Outstanding
Information relating to share options outstanding at December 31, 2024, is as follows:

Outstanding Share Options (in 000’s)Exercise
Price Range
Weighted Average Remaining Life
of Outstanding Options (months)
1,166
$5.34 – $14.71
43
1,315
$14.72 – $30.35
50
1,122
 $30.36 – $46.57
66
819
 $46.58 – $54.33
109
1,045
 $54.34 – $70.34
89
5,467
$5.34 – $70.34
68
Summary of Exercise Price Range for Share Options
Information relating to share options outstanding at December 31, 2024, is as follows:

Outstanding Share Options (in 000’s)Exercise
Price Range
Weighted Average Remaining Life
of Outstanding Options (months)
1,166
$5.34 – $14.71
43
1,315
$14.72 – $30.35
50
1,122
 $30.36 – $46.57
66
819
 $46.58 – $54.33
109
1,045
 $54.34 – $70.34
89
5,467
$5.34 – $70.34
68
Summary of Outstanding Units
The outstanding Units are summarized in the following table:

(in 000’s)December 31, 2024December 31, 2023
 OutstandingVestedOutstandingVested
DSUs491 491 1,837 1,837 
RSUs1,307  1,336 — 
PSUs946  656 — 
PDSUs116 69 253 219 
2,860 560 4,082 2,056 
Summary of Accumulated Other Comprehensive Income (Loss)
(CAD$ in millions)20242023
Accumulated other comprehensive income – beginning of year
$693 $1,062 
Currency translation differences:
Unrealized gain (loss) on translation of foreign subsidiaries
1,697 (421)
       Foreign exchange differences on debt designated as a hedge of our
          investment in foreign subsidiaries (net of taxes of $7 and $(9)) (Note 34(b))
(47)56 
1,650 (365)
Gain (loss) on marketable equity and debt securities (net of taxes of $(7) and $1)
54 (4)
Remeasurements of retirement benefit plans (net of taxes of $(30) and $(68))
46 151 
Total other comprehensive income (loss)
1,750 (218)
Remeasurements of retirement benefit plans recorded in retained earnings
(46)(151)
Accumulated other comprehensive income – end of year
$2,397 $693 
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)20242023
Loss from continuing operations attributable to shareholders of the company
(467)(118)
Profit from discontinued operations attributable to shareholders of the company (Note 5)
873 2,527 
Profit attributable to shareholders of the company
$406 $2,409 
Weighted average shares outstanding (000’s)516,011 517,828 
Dilutive effect of share options (000’s)
4,031 7,516 
Weighted average diluted shares outstanding (000’s)520,042 525,344 
Loss per share from continuing operations
Basic and diluted
$(0.90)$(0.23)
Earnings per share from discontinued operations
Basic
$1.69 $4.88 
Diluted
$1.68 $4.81 
Earnings per share
Basic earnings per share
$0.79 $4.65 
Diluted earnings per share
$0.78 $4.59