Financial Highlights
 

For the three months ended

For the six months ended

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

June 30
2021

March 31
2021

June 30
2020

June 30
2021

June 30
2020

Total revenues(1)

19,318

12,184

20,631 31,502 31,980

Assets under management (in billions)

1,423

1,144

942 1,423 942

Assets under administration (in billions)

2,651

2,310

1,855 2,651 1,855

Net earnings (attributable to participating shareholders)

994

556

666 1,550 866

per share — basic 

1.47

0.82

0.99 2.29 1.40

per share — diluted

1.46

0.82

0.99 2.28 1.40

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

1,020 786 533 1,806 878

per share — basic(2)

1.51 1.16 0.79 2.67 1.42

Consolidated assets

634,857 621,466 485,181 634,857

485,181

Shareholders’ equity

23,605 22,050 20,857 23,605 20,857

Dividends declared per participating share

0.4475 0.4475 0.4475 0.8950

0.8950

Book value per participating share

33.48 31.17 29.43 33.48 29.43

Net asset value per participating share(2)

51.60 45.94 32.96 51.60 32.96

Participating shares outstanding (in millions)

676.5 676.7 676.3 676.5 676.3

(1) Comparative figures for the first quarter of 2021 have been corrected relating to an immaterial classification error in Lifeco as described in Note 20 to the Corporation's June 30, 2021 Interim Consolidated Financial Statements. 
(2) Adjusted net earnings and adjusted net earnings per share attributable to participating shareholders and net asset value per participating share are non-IFRS financial measures. Refer to the “Non-IFRS Financial Measures and Presentation” section of the Corporation's most recent Management's Discussion and Analysis for the definition of non-IFRS financial measures and their reconciliation with IFRS financial measures. In the first quarter of 2021, the charge related to the remeasurement of the put right liability of certain of the non-controlling interests in Wealthsimple to fair value was presented as an Adjustment as these rights will be extinguished and thereafter will not have future fair value changes.

BODY:

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

2020 2019 2018

Total revenues 

64,616

48,841 48,098

Assets under management (in billions)

1,142

941 860

Assets under administration (in billions)

2,195

1,823 1,571

Net earnings (attributable to participating shareholders)

1,994

1,108 1,287

per share — basic 

3.08

2.53 2.77

per share — diluted

3.08

2.53 2.76

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

1,943

1,275 1,145

per share — basic 

3.00

2.92 2.46
Consolidated assets 

629,104

477,250 452,303
Total financial liabilities 

38,275

26,355 26,056
Debentures and other debt instruments

14,055

9,938 9,977
Shareholder's equity

22,207

14,174 15,118

Dividends declared on participating share

1.7900

2.0020 1.5045

Book value per participating share

31.38

30.98 30.38

Net asset value per participating share(1) 

41.27

44.98 37.91

Number of participating shares outstanding (in millions)

 

   

Participating preferred shares

54.9

48.9 48.9

Subordinate voting shares

622.4

377.6 417.1

(1) Adjusted net earnings and adjusted net earnings per share attributable to participating shareholders and net asset value per participating share are non-IFRS financial measures. Refer to the “Non-IFRS Financial Measures and Presentation” section of the Corporation’s most recent Management’s Discussion and Analysis for the definition of non-IFRS financial measures and their reconciliation with IFRS financial measures.
(2) Effective the first quarter of 2020, the Corporation introduced a modified definition of its non-IFRS earnings measure, Adjusted net earnings. This change is consistent with the introduction of base earnings by Lifeco which was introduced in the first quarter of 2020 to reflect management's view of the operating performance of Lifeco. Refer to the "Non-IFRS Measures and Presentation" section of the Corporation's most recent Management's Discussion and Analysis for additional details on this measure. The comparative periods have been restated to reflect the introduction of this modified measure.

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