Share-based compensation (Tables)
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12 Months Ended |
Oct. 31, 2022 |
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| Text Block [Abstract] |
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| Summary of Stock Option Activity and Related Information |
A summary of our stock option activity and related information
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For the year ended |
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October 31, 2021 |
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(Canadian dollars per share except share amounts) |
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Number of
options
(thousands) |
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Weighted
average
exercise price (1) |
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Number of
options
(thousands) |
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Weighted average exercise price (1) |
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Outstanding at beginning of period |
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6,973 |
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$ |
86.02 |
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1,251 |
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106.00 |
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(1,150 |
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65.56 |
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(19 |
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93.23 |
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Outstanding at end of period |
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7,055 |
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$ |
92.27 |
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Exercisable at end of period |
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3,273 |
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$ |
80.38 |
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| (1) |
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The weighted average exercise prices reflect the conversion of foreign currency-denominated options at the exchange rates as of October 31, 2022 and October 31, 2021. For foreign currency-denominated options exercised during the year, the weighted average exercise prices are translated using exchange rates as at the settlement date. |
| (2) |
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Cash received for options exercised during the year was $51 million (October 31, 2021 – $75 million) and the weighted average share price at the date of exercise was $134.10 (October 31, 2021 – $115.11). |
| (3) |
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New shares were issued for all stock options exercised in 2022 and 2021. |
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| Summary of Options Outstanding and Exercisable by Range of Exercise Price |
Options outstanding as at October 31, 2022 by range of exercise price
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(Canadian dollars per share except |
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Number
outstanding
(thousands) |
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Weighted
average
exercise price (1) |
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Weighted
average
remaining
contractual
life (years) |
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Number
exercisable
(thousands) |
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Weighted
average
exercise price (1) |
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| (1) |
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The weighted average exercise prices reflect the conversion of foreign currency-denominated options at the exchange rate as of October 31, 2022. |
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| Weighted Average Assumptions |
Weighted average assumptions
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(Canadian dollars per share except percentages and years) |
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Share price at grant date |
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$ |
104.86 |
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0.48% |
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4.59% |
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Expected share price volatility |
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14% |
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6 Years |
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| Summary of Units Granted Under Deferred Share and Other Plans |
Units granted under deferred share and other plans
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For the year ended |
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October 31, 2021 |
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(Units and per unit amounts) |
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Units
granted
(thousands) |
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Weighted
average
fair value
per unit |
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Units
granted
(thousands) |
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Weighted
average
fair value
per unit |
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Deferred share unit plans |
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462 |
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$ |
113.34 |
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Capital Markets compensation plan unit awards |
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4,066 |
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128.95 |
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Performance deferred share award plans |
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2,486 |
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106.10 |
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Deferred compensation plans |
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87 |
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104.21 |
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767 |
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109.24 |
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7,868 |
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$ |
118.62 |
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| Summary of Obligation Under Deferred Share and Other Plans |
The following tables present the units that have been earned by the participants, our obligations for these earned units under the deferred share and other plans, and the related compensation expenses (recoveries) recognized for the year. Obligations under deferred share and other plans
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As at |
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October 31, 2021 |
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(Millions of Canadian dollars except units) |
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Units
(thousands) |
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Carrying
amount |
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Deferred share unit plans |
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5,001 |
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$ |
644 |
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Capital Markets compensation plan unit awards |
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9,925 |
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1,280 |
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Performance deferred share award plans |
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6,216 |
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801 |
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Deferred compensation plans (1) |
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2,574 |
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331 |
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1,724 |
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216 |
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25,440 |
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$ |
3,272 |
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| (1) |
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Excludes obligations not determined based on the quoted market price of our common shares. |
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| Summary of Compensation Expenses Recognized Under Deferred Share and Other Plans |
Compensation expenses recognized under deferred share and other plans
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For the year ended |
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(Millions of Canadian dollars) |
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Deferred share unit plans |
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$ |
205 |
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Capital Markets compensation plan unit awards |
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518 |
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Performance deferred share award plans |
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506 |
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Deferred compensation plans |
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627 |
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142 |
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$ |
1,998 |
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