v3.26.3
Net Income per Share
9 Months Ended
Sep. 30, 2026
Earnings Per Share [Abstract]  
Net Income per Share Net Income per Share
The Company applies the two-class method to calculate its basic and diluted net income per share as Class A subordinate voting shares and Class B restricted voting shares are participating securities with equal participation rights and are entitled to receive dividends on a share for share basis. The Company uses the treasury stock method for calculating the effect of dilutive potential common stock from employee stock options and employee RSUs.
The following table summarizes the reconciliation of the basic weighted average number of shares outstanding and the diluted weighted average number of shares outstanding:
Three months ended September 30,Nine months ended September 30,
2026202520262025
(in US $ millions, except share and per share amounts)
Numerator:
Net income462 264 1,383 488 
Denominator:
Basic weighted average number of shares outstanding1,286,866,0791,300,069,6851,295,087,6771,297,764,857
Weighted average effect of dilutive securities:
Stock options1,133,5534,369,5962,599,1063,972,952
Restricted share units2,725,1242,043,057929,2891,893,677
Convertible senior notes—6,388,480—6,388,480
Deferred share units1,9861,8911,8728,941
Diluted weighted average number of shares1,290,726,7421,312,872,7091,298,617,9441,310,028,907
Net income per share:
Basic$0.36 $0.20 $1.07 $0.38 
Diluted$0.36 $0.20 $1.06 $0.37 
Common stock equivalents excluded from net income per diluted share because they are anti-dilutive:
Stock options1,005,445512,241 1,054,385 125,584 
Restricted share units71,64015,859 346,921 210,797 
Deferred share units449— 624 365 
1,077,534528,100 1,401,930 336,746