v3.25.4
Consolidated Statements of Changes in Equity - CAD ($)
$ in Millions
Total
Contributed surplus
Shareholders and other equity holders’ accumulated other comprehensive income (loss) (“AOCI”)
Participating policyholders’ equity
Non-controlling interests
Preferred shares and other equity
Common shares
Shareholders and other equity holders’ retained earnings
Balance, beginning of year at Dec. 31, 2023   $ 222 $ 13,811 $ 257 $ 1,431 $ 6,660 $ 21,527 $ 4,819
Issued (note 11)           0    
Redeemed (note 11)           0    
Repurchased (note 11)             (990) (2,282)
Issued on exercise of stock options and deferred share units   (18)         144  
Net income (loss) attributed to shareholders and other equity holders               5,385
Preferred share dividends and other equity distributions               (311)
Common share dividends               (2,848)
Other (note 24)               1
Change in unrealized foreign exchange gains (losses) on net foreign operations $ 3,109   2,526          
Changes in insurance / reinsurance finance income (expenses)     5,575          
Change in unrealized gains (losses) on fair value through OCI investments     (3,471)          
Other changes in OCI attributed to shareholders and other equity holders     222          
Net income (loss) attributed to participating policyholders 246     246        
Other comprehensive income (losses) attributed to policyholders       64        
Net income (loss) attributed to non-controlling interests 247       247      
Other comprehensive income (losses) attributed to non-controlling interests         (243)      
Contributions (distributions and acquisitions), net         (14)      
Balance, end of year at Dec. 31, 2024 52,960 204 18,663 567 1,421 6,660 20,681 4,764
Total shareholders and other equity holders’ equity, end of year 50,972   50,972          
Issued (note 11)           0    
Redeemed (note 11)           0    
Repurchased (note 11)             (651) (1,780)
Issued on exercise of stock options and deferred share units   (5)         73  
Net income (loss) attributed to shareholders and other equity holders               5,572
Preferred share dividends and other equity distributions               (321)
Common share dividends               (2,984)
Other (note 24)               (227)
Change in unrealized foreign exchange gains (losses) on net foreign operations (1,765)   (1,442)          
Changes in insurance / reinsurance finance income (expenses)     (2,222)          
Change in unrealized gains (losses) on fair value through OCI investments     3,220          
Other changes in OCI attributed to shareholders and other equity holders     (84)          
Net income (loss) attributed to participating policyholders 210     210        
Other comprehensive income (losses) attributed to policyholders       59        
Net income (loss) attributed to non-controlling interests 278       278      
Other comprehensive income (losses) attributed to non-controlling interests         (144)      
Contributions (distributions and acquisitions), net         (24)      
Balance, end of year at Dec. 31, 2025 52,488 $ 199 18,135 $ 836 $ 1,531 $ 6,660 $ 20,103 $ 5,024
Total shareholders and other equity holders’ equity, end of year $ 50,121   $ 50,121