v3.25.4
Employee compensation
 12 Months Ended
Dec. 31, 2025
Analysis of income and expense [abstract]  
Employee compensation Employee compensation
Our employee compensation expense includes salaries and wages, employee future benefits, bonuses and termination costs, but excludes restructuring charges. Total compensation expense for the year ended December 31, 2025 was $961 million (2024 - $984 million).
Key management includes directors and officers, and their compensation expense and balance sheet date payables are as follows:
20252024
Expense (recovery)
Salary and short-term employee benefits$7 $7 
Retirement benefits1 1 
Equity-based compensation1
(9)10 
$— $19 
1.Amounts do not necessarily represent the actual value which will ultimately be paid.
20252024
Payables and accrued liabilities
Compensation$— $— 
Equity-based compensation1
16 27 
$16 $27 
1.Amounts do not necessarily represent the actual value which will ultimately be paid.