| Summary of Earnings Per Share |
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For the year ended |
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(Millions of Canadian dollars, except share and per share amounts) |
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October 31 2023 (Restated – Note 2) |
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Net income |
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$ |
14,612 |
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Dividends on preferred shares and distributions on other equity instruments |
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(236 |
) |
Net income attributable to non-controlling interests |
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(7 |
) |
Net income available to common shareholders |
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$ |
14,369 |
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Weighted average number of common shares (in thousands) |
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1,391,020 |
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Basic earnings per share (in dollars) |
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$ |
10.33 |
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Diluted earnings per share |
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Net income available to common shareholders |
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$ |
14,369 |
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Weighted average number of common shares (in thousands) |
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1,391,020 |
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1,483 |
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Issuable under other share-based compensation plans |
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26 |
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Average number of diluted common shares (in thousands) |
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1,392,529 |
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Diluted earnings per share (in dollars) |
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$ |
10.32 |
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| (1) |
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The dilutive effect of stock options was calculated using the treasury stock method. When the exercise price of options outstanding is greater than the average market price of our common shares, the options are excluded from the calculation of diluted earnings per share. For the year ended October 31, 2024, no outstanding options were excluded from the calculation of diluted earnings per share. For the year ended October 31, 2023 , an average of 2,119,045 outstanding options with an average exercise price of $130.73 were excluded from the calculation of diluted earnings per share. |
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