v3.25.4
Consolidated Statements of Changes in Equity - CAD ($)
shares in Thousands, $ in Millions
Total
Class B Non-Voting Shares
Total
Issued capital
Class A Voting Shares
Issued capital
Class B Non-Voting Shares
Retained earnings
FVTOCI investment reserve
Hedging reserve
Equity investment reserve
Non- controlling interest
Shareholders' equity, beginning balance at Dec. 31, 2023 $ 10,440     $ 71 $ 1,921 $ 9,839 $ (17) $ (1,384) $ 10  
Number of shares, beginning balance at Dec. 31, 2023       111,152 418,869          
Net income for the year 1,734         1,734        
Other comprehensive income:                    
Defined benefit pension plans, net of tax 129         129        
FVTOCI investments, net of tax 10           10      
Derivative instruments accounted for as hedges, net of tax (1,167)             (1,167)    
Other comprehensive income (loss) for the year (1,028)         129 10 (1,167) 0  
Comprehensive income for the year 706         1,863 10 (1,167) 0  
Transactions with shareholders recorded directly in equity:                    
Dividends declared (note 28) (1,068)         (1,068)        
Share price change on DRIP dividends (4)         (4)        
Shares issued as settlement of dividends (note 28) 329       $ 329          
Total transactions with shareholders (743)     $ 0 $ 329 (1,072)        
Total transactions with shareholders (in shares)       0 6,080          
Shareholders' equity, ending balance at Dec. 31, 2024 10,403   $ 10,403 $ 71 $ 2,250 10,630 (7) (2,551) 10 $ 0
Number of shares, ending balance at Dec. 31, 2024       111,152 424,949          
Transactions with shareholders recorded directly in equity:                    
Shares issued as settlement of dividends (note 28) (in shares)   1,943     6,080          
Net income for the year 6,906   6,894     6,894       12
Defined benefit pension plans, net of tax 85   85     85        
FVTOCI investments, net of tax 39   39       39      
Derivative instruments accounted for as hedges, net of tax 1,246   1,246         1,246    
Other comprehensive income (loss) for the year 1,370   1,370     85 39 1,246 0  
Comprehensive income for the year 8,276   8,264     6,979 39 1,246 0 12
Dividends declared (note 28) (1,079)   (1,079)     (1,079)        
Share price change on DRIP dividends (2)   (2)     (2)        
Non-controlling interests in shares of a subsidiary (note 28) 6,656                 6,656
Dividends declared by a subsidiary to non-controlling interests (133)                 (133)
Shares issued as settlement of dividends (note 28) 165   165   $ 165          
Total transactions with shareholders 5,607   (916) $ 0 $ 165 (1,081)       6,523
Total transactions with shareholders (in shares)       0 4,124          
Shareholders' equity, ending balance at Dec. 31, 2025 $ 24,286   $ 17,751 $ 71 $ 2,415 $ 16,528 $ 32 $ (1,305) $ 10 $ 6,535
Number of shares, ending balance at Dec. 31, 2025       111,152 429,073          
Transactions with shareholders recorded directly in equity:                    
Shares issued as settlement of dividends (note 28) (in shares)   0     4,124