v3.26.1
Earnings per share
 6 Months Ended
Apr. 30, 2026
Text Block [Abstract]  
Earnings per share
Note 11
  
Earnings per share
 
  
 
For the three months ended
 
 
  
 
For the six months ended
 
(Millions of Canadian dollars, except share and per share amounts)
 
April 30
2026
 
 
April 30
2025
 
 
  
 
April 30
2026
 
 
April 30
2025
 
Basic earnings per share
 
 
 
 
 
Net income
  
$
 
 
5,509
 
   $ 4,390      
$
11,294
 
   $ 9,521  
Dividends on preferred shares and distributions on other equity instruments
  
 
(135
)
     (112 )     
 
(276
)
     (230 ) 
Net income attributable to
non-controlling
interests
  
 
(2
)
     (4 )       
 
(3
)
     (6 ) 
Net income available to common shareholders
  
$
5,372
 
   $ 4,274        
$
11,015
 
   $ 9,285  
Weighted average number of common shares (in thousands)
  
 
1,393,332
 
      1,411,362      
 
1,396,000
 
     1,412,671  
Basic earnings per share (in dollars)
  
$
3.86
 
   $ 3.03        
$
 
7.89
 
   $ 6.57  
Diluted earnings per share
          
Net income available to common shareholders
  
$
5,372
 
   $ 4,274        
$
    11,015
 
   $ 9,285  
Weighted average number of common shares (in thousands)
  
 
1,393,332
 
     1,411,362      
 
1,396,000
 
     1,412,671  
Stock options
(1)
  
 
3,216
 
     2,155        
 
3,262
 
     2,366  
Average number of diluted common shares (in thousands)
  
 
1,396,548
 
     1,413,517      
 
1,399,262
 
      1,415,037  
Diluted earnings per share (in dollars)
  
$
3.85
 
   $ 3.02        
$
7.87
 
   $ 6.56  
 
(1)   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 three months ended April 30, 2026, no outstanding options were excluded from the calculation of diluted earnings per share. For the three months ended April 30, 2025, an average of 917,151 outstanding options with an average exercise price of $177.97 were excluded from the calculation of diluted earnings per share. For the six months ended April 30, 2026, an average of 583,179 outstanding options with an average exercise price of $230.00 were excluded from the calculation of diluted earnings per share. For the six months ended April 30, 2025, an average of 684,687 outstanding options with an average exercise price of $177.97 were excluded from the calculation of diluted earnings per share.