Financial Highlights
 

For the three months ended

For the years ended

(In millions of canadian dollars, except per share amounts or as otherwise noted)
(unaudited)

Dec. 31
2017

Sept. 30
2017

Dec. 31
2016

December 31
2017

December 31
2016

Revenues

14,019

11,377

9,088

51,253

50,750

Net earnings attributable to participating shareholders

208

470

459

1,286

1,082

Net earnings per participating share

0.44

1.02

0.99

2.77

2.33

Adjusted net earnings attributable to participating shareholders(1, 2)

419

471

412

1,560

1,223

Adjusted net earnings per participating share(1, 2)

0.90

1.02

0.89

3.36

2.64

Dividends declared per participating share

0.3585

0.3585

0.3350

1.4105

1.3163

Consolidated assets(3)

445,521

431,890

422,724

445,521

422,724

Shareholders' equity

14,615

14,336

13,864

14,615

13,864

Book value per participating share

29.40

28.82

27.84

29.40

27.84

Participating shares outstanding (in millions)

464.3

464.0

463.3

464.3

463.3

(1) Adjusted net earnings attribuable to participating shareholders and adjusted net earnings per participating share are non-IFRS financial measures.
(2) Comparative figures have been adjusted to reflect other items reported by Lifeco.
(3) Comparative figures have been retrospectively adjusted as described in Note 16 of the Corporation's 2017 Consolidated Financial Statements.

As at and for the years ended December 31 [in millions of Canadian dollars, except as otherwise noted]
(unaudited)

2017

2016

2015

2014

2013

Consolidated Balance Sheets

         

Cash and cash equivalents

5,903

5,182 5,085 4,431

4,767

Total assets(1)

445,521

422,724 422,859 377,781

344,976

Shareholders’ equity(2)

14,615

13,864 13,978 11,931

10,924

Consolidated Statements of Earnings

         

Revenues

         

Premium income, net

33,925

31,125 24,501 21,222

20,236

Investment income, net

8,074

10,335 4,869 13,706

2,752

Fee income

8,356

7,794 7,692 6,990

5,933

Other revenues

898

1,496 1,203 711

721

 

51,253

50,570 38,265 42,629

29,642

Expenses

         

Total paid or credited to policyholders

35,643

34,675 22,842 29,160

17,811

Commissions

3,475

3,590 3,133 2,901

2,590

Operating and administrative expenses

8,260

8,023 7,239 6,066

5,448

Financing charges

512

490 480 457

440

 

47,890

46,778 33,694 38,584

26,289

 

3,363

3,972 4,571 4,045

3,353

Share of earnings (losses) of investments in jointly controlled corporations and associates

214

(122) 213 215

106

Earnings before income taxes

3,577

3,850 4,784 4,260

3,459

Income taxes

543

587 685 824

670

Net earnings

3,034

3,263 4,099 3,436

2,789

Attributable to

         

Non-controlling interests

1,696

2,129 2,261 2,109

1,760

Non-participating shareholders

52

52

52

52

52

Participating shareholders

1,286

1,082 1,786 1,275

977

 

3,034

3,263 4,099 3,436

2,789

Per share

         

Net earnings attributable to participating shareholders

2.77

2.33 3.86 2.77

2.12

Adjusted net earnings(3)    attributable to participating shareholders(4, 5)

3.36

2.64 3.40 2.69

2.08

Dividends declared on participating shares

1.41

1.32 1.22 1.16

1.16

Book value at year-end(2)

29.40

27.84 28.08 23.74

21.61

Market price (Participating shares)

         

High

33.68

31.03 34.57 32.87

32.82

Low

28.65

26.77 27.15 27.60

25.02

Year-end

32.37

30.05 28.94 31.76

31.95

(1) Comparative figures have been retrospectively adjusted as described in Note 16 to the Corporation's 2017 Consolidated Financial Statements.
(2) Comparative figures of 2015 have been retrospectively adjusted.
(3) Previously described as operating earnings.
(4) Adjusted net earnings per share is a non-IFRS financial measures.
(5) Comparative figures have been adjusted to reflect other items reported by Lifeco in 2016.

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