v3.26.3
Consolidated Statements of Equity (unaudited)
$ in Millions
CAD ($)
Common shares
CAD ($)
Preferred Shares
CAD ($)
Common Shares
CAD ($)
Common Shares
Common shares
CAD ($)
Treasury Shares
CAD ($)
Treasury Shares
Common shares
CAD ($)
Preferred Shares
CAD ($)
Warrants
CAD ($)
Paid in Surplus
CAD ($)
Paid in Surplus
Common shares
CAD ($)
Retained Earnings
CAD ($)
Retained Earnings
Common shares
CAD ($)
Retained Earnings
Preferred Shares
CAD ($)
AOCI
CAD ($)
 [1]
Beginning balance at Dec. 31, 2024 $ 29,754     $ 15,659   $ (43)   $ 356 $ 12 $ 944   $ 10,513     $ 2,313
Net Earnings (Loss) 2,996                     2,996      
Other Comprehensive Income (Loss), Net of Tax (1,694)                           (1,694)
Comprehensive Income (Loss) 1,302                     2,996     (1,694)
Common shares issued under stock option plans (in shares)         15                    
Common Shares Issued Under Stock Option Plans   $ 12                 $ (3)        
Purchase of Common Shares Under NCIB [2]   (1,281)     $ (519)           (541)   $ (221)    
Purchase of Common Shares Under Employee Benefit Plan (94)         (94)                  
Common Shares Issued Under Employee Benefit Plan 76         82       (6)          
Preferred Shares Redeemed (350)             (243)   (107)          
Warrants Exercised 5     7         (2)            
Stock-Based Compensation Expense 9                 9          
Dividends paid   (1,047) $ (12)                   (1,047) $ (12)  
Ending balance at Sep. 30, 2025 28,374     15,162   (55)   113 10 296   12,229     619
Beginning balance at Dec. 31, 2025 31,622     18,599   (116)   113 4 298   12,323     401
Net Earnings (Loss) 7,800                     7,800      
Other Comprehensive Income (Loss), Net of Tax 508                           508
Comprehensive Income (Loss) 8,308                     7,800     508
Common shares issued under stock option plans (in shares)         99                    
Common Shares Issued Under Stock Option Plans   80                 $ (19)        
Purchase of Common Shares Under NCIB [2]   (3,114)     $ (769)               (2,345)    
Purchase of Common Shares Under Employee Benefit Plan   (284)         $ (284)                
Common Shares Issued Under Employee Benefit Plan 120           $ 88           32    
Preferred Shares Redeemed (300)             (113)       (187)      
Warrants Exercised 3     5         (2)            
Warrants Expired 0               (2)     2      
Stock-Based Compensation Expense 12                 12          
Dividends paid   $ (1,191) $ (2)                   $ (1,191) $ (2)  
Ending balance at Sep. 30, 2026 $ 35,254     $ 17,934   $ (312)   $ 0 $ 0 $ 291   $ 16,432     $ 909
[1] Accumulated other comprehensive income (loss) (“AOCI”).
[2] Normal course issuer bid (“NCIB”). Includes taxes payable on the purchase of shares and the liability for share purchase commitments under the automatic share purchase plan (“ASPP”).