v3.26.1
Stock-based compensation (Tables)
 6 Months Ended
Jun. 30, 2026
Share-Based Payment Arrangement [Abstract]  
Schedule of Stock Option Activity
A summary of stock option activity during the six months ended June 30, 2026 is set out below:
Six months ended June 30, 2026
Shares
 arising
out of options		Weighted
 average
exercise price
Weighted average
remaining
contractual life (years)
Aggregate
intrinsic
value
Outstanding as of January 1, 20265,036,542$35.20 3.4— 
Granted— — — — 
Forfeited— — — — 
Expired— — — — 
Exercised (2,800)27.65 — —
Outstanding as of June 30, 20265,033,74235.21 2.9193
Vested as of June 30, 2026 and expected to vest thereafter (Note a)5,028,68135.19 2.9193
Vested and exercisable as of June 30, 20264,742,98034.20 2.8193
Weighted average grant date fair value of grants during the period— 
(a)Options expected to vest reflect an estimated forfeiture rate.
Schedule of Restricted Share Units Activity A summary of RSU activity during the six months ended June 30, 2026 is set out below:
 15. Stock-based compensation (Continued)
Six months ended June 30, 2026
Number of Restricted Share UnitsWeighted Average Grant Date Fair Value
Outstanding as of January 1, 20262,302,336$42.29 
Granted1,390,98943.69
Vested (Note a)(926,732)40.69 
Forfeited(170,716)44.27
Outstanding as of June 30, 20262,595,87743.48
Expected to vest (Note b)2,348,090
(a)922,834 RSUs vested during the six months ended June 30, 2026, in respect of which 578,258 shares (net of minimum statutory tax withholding) were issued. 3,898 RSUs that vested in the six months ended June 30, 2026 will be issued subsequent to June 30, 2026 after withholding shares to the extent of minimum statutory withholding taxes.
(b)The number of RSUs expected to vest reflects the application of an estimated forfeiture rate.
Schedule of Significant Assumptions Used in Determining Fair Value of Performance Units
The fair value of each PU granted to employees in the six months ended June 30, 2026 and June 30, 2025 was estimated on the date of grant using the following valuation assumptions:
Six months ended June 30, 2026Six months ended June 30, 2025
Dividend yield1.54%1.37%
Expected life (years)2.922.81
Risk-free rate of interest for expected life 3.56%3.89%
Volatility for expected life 28.86%25.78%
Schedule of Performance Units Activity
A summary of PU activity during the six months ended June 30, 2026 is set out below:
Six months ended June 30, 2026
Number of Performance UnitsWeighted Average Grant Date Fair ValueMaximum Shares Eligible to Receive
Outstanding as of January 1, 20262,652,354 $42.39 6,368,794
Granted1,119,220 44.592,686,128
Vested (Note a)(418,753)44.02(418,753)
Forfeited(203,622)44.01(488,640)
Adjustment upon final determination of level of performance goal achievement(273,757)44.03(1,243,271)
Outstanding as of June 30, 20262,875,442 $42.74 6,904,258
Expected to vest (Note b)3,305,656 
 
(a)417,841 PUs vested during the six months ended June 30, 2026, in respect of which 260,106 shares (net of minimum statutory tax withholding) were issued during the six months ended June 30, 2026. 912 PUs that vested in the six months ended June 30, 2026 will be issued subsequent to June 30, 2026 after withholding shares to the extent of minimum statutory withholding taxes.
(b)The number of PUs expected to vest is based on the probable achievement of the performance targets after considering an estimated forfeiture rate.