Share-based compensation (Tables)
|
12 Months Ended |
Oct. 31, 2024 |
|---|
| Text Block [Abstract] |
|
| Summary of Stock Option Activity and Related Information |
A summary of our stock option activity and related information
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
| |
|
For the year ended |
|
|
|
|
|
| |
|
|
|
|
|
|
|
October 31, 2023 |
|
|
|
|
|
|
|
(Canadian dollars per share except share amounts) |
|
|
|
|
Weighted
average
exercise price (1) |
|
|
|
|
|
Number of
options
(thousands) |
|
|
Weighted
average
exercise price (1) |
|
Outstanding at beginning of period |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
7,509 |
|
|
$ |
100.07 |
|
Granted |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1,088 |
|
|
|
131.64 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(740 |
) |
|
|
84.76 |
|
Forfeited in the period |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(90 |
) |
|
|
113.55 |
|
Outstanding at end of period |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
7,767 |
|
|
$ |
106.01 |
|
Exercisable at end of period |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
3,830 |
|
|
$ |
91.84 |
|
| (1) |
|
The weighted average exercise prices reflect the conversion of foreign currency-denominated options at the exchange rates as of October 31, 2024 and October 31, 2023. 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) |
|
Cash received for options exercised during the year was $157 million (October 31, 2023 – $63 million) and the weighted average share price at the date of exercise was $144.69 (October 31, 2023 – $130.94). |
| (3) |
|
New shares were issued for all stock options exercised in 2024 and 2023. |
|
| Summary of Options Outstanding and Exercisable by Range of Exercise Price |
Options outstanding as at October 31, 2024 by range of exercise price
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(Canadian dollars per share except
share amounts and years) |
|
|
|
|
Weighted
average
exercise price (1) |
|
|
Weighted
average
remaining
contractual
life (years) |
|
|
|
|
|
Number
exercisable
(thousands) |
|
|
Weighted
average
exercise price (1) |
|
$73.14 – $90.23 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$96.55 – $102.33 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$104.70 – $106.00 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$129.99 – $131.64 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| (1) |
|
The weighted average exercise prices reflect the conversion of foreign currency-denominated options at the exchange rate as of October 31, 2024 . |
|
| Weighted Average Assumptions |
Weighted average assumptions
|
|
|
|
|
|
|
|
|
| |
|
| |
|
For the year ended |
|
|
|
|
(Canadian dollars per share except percentages and years) |
|
|
|
|
October 31 2023 |
|
Share price at grant date |
|
|
|
|
|
$ |
130.16 |
|
Risk-free interest rate |
|
|
|
|
|
|
2.89% |
|
Expected dividend yield |
|
|
|
|
|
|
3.79% |
|
Expected share price volatility |
|
|
|
|
|
|
14% |
|
Expected life of option |
|
|
|
|
|
|
6 Years |
|
|
| Summary of Units Granted Under Deferred Share and Other Plans |
Units granted under deferred share and other plans
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
For the year ended |
|
|
|
|
|
| |
|
|
|
|
|
|
October 31, 2023 |
|
|
|
|
|
|
|
(Units and per unit amounts) |
|
Units
granted
(thousands) |
|
|
Weighted
average
fair value
per unit |
|
|
|
|
Units
granted
(thousands) |
|
|
Weighted
average
fair value
per unit |
|
Deferred share unit plans |
|
|
|
|
|
|
|
|
|
|
|
|
466 |
|
|
$ |
130.61 |
|
Capital Markets compensation plan unit awards |
|
|
|
|
|
|
|
|
|
|
|
|
4,231 |
|
|
|
110.32 |
|
Performance deferred share award plans |
|
|
|
|
|
|
|
|
|
|
|
|
2,362 |
|
|
|
131.41 |
|
Deferred compensation plans |
|
|
|
|
|
|
|
|
|
|
|
|
103 |
|
|
|
126.81 |
|
Other share-based plans |
|
|
|
|
|
|
|
|
|
|
|
|
1,506 |
|
|
|
130.12 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
8,668 |
|
|
$ |
120.79 |
|
|
| Summary of Obligation Under Deferred Share and Other Plans |
Obligations under deferred share and other plans
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
As at |
|
| |
|
|
|
|
|
|
October 31, 2023 |
|
|
|
|
|
|
|
(Millions of Canadian dollars except units) |
|
|
|
|
|
|
|
|
|
Units
(thousands) |
|
|
Carrying
amount |
|
Deferred share unit plans |
|
|
|
|
|
|
|
|
|
|
|
|
5,786 |
|
|
$ |
641 |
|
Capital Markets compensation plan unit awards |
|
|
|
|
|
|
|
|
|
|
|
|
9,934 |
|
|
|
1,098 |
|
Performance deferred share award plans |
|
|
|
|
|
|
|
|
|
|
|
|
5,808 |
|
|
|
643 |
|
Deferred compensation plans (1) |
|
|
|
|
|
|
|
|
|
|
|
|
2,654 |
|
|
|
294 |
|
Other share-based plans |
|
|
|
|
|
|
|
|
|
|
|
|
2,135 |
|
|
|
234 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
26,317 |
|
|
$ |
2,910 |
|
| (1) |
|
Excludes obligations not determined based on the quoted market price of our common shares. |
|
| Summary of Compensation Expenses Recognized Under Deferred Share and Other Plans |
Compensation expenses recognized under deferred share and other plans
|
|
|
|
|
|
|
|
|
| |
|
For the year ended |
|
|
|
|
(Millions of Canadian dollars) |
|
|
|
|
October 31 2023 |
|
Deferred share unit plans |
|
|
|
|
|
$ |
(51 |
) |
Capital Markets compensation plan unit awards |
|
|
|
|
|
|
126 |
|
Performance deferred share award plans |
|
|
|
|
|
|
216 |
|
Deferred compensation plans |
|
|
|
|
|
|
213 |
|
Other share-based plans |
|
|
|
|
|
|
104 |
|
| |
|
|
|
|
|
$ |
608 |
|
|