| |
For the three months ended
|
For the nine months ended
|
|
(In millions of canadian dollars, except per share amounts or as otherwise noted)
(unaudited)
|
Sept. 30
2021
|
June 30
2021
|
Sept. 30
2020
|
Sept. 30
2021
|
Sept. 30
2020
|
|
Total revenues
|
18,584 |
19,318
|
14,682 |
50,086 |
46,662 |
|
Assets under management (in billions)(1)
|
1,198 |
1,175
|
990 |
1,198 |
990 |
|
Assets under administration (in billions)(1)
|
2,447 |
2,404
|
1,860 |
2,447 |
1,860 |
|
Net earnings (attributable to participating shareholders)
|
741 |
994
|
505 |
2,291 |
1,371 |
|
per share — basic
|
1.09 |
1.47
|
0.75 |
3.38 |
2.15 |
|
per share — diluted
|
1.08 |
1.46
|
0.75 |
3.36 |
2.15 |
|
Adjusted net earnings (attributable to participating shareholders)(2)
|
748 |
1,020
|
483 |
2,554 |
1,361 |
|
per share — basic(2)
|
1.10 |
1.51
|
0.72 |
3.77 |
2.13 |
|
Consolidated assets
|
645,307 |
634,857
|
501,393 |
645,307 |
501,393 |
|
Shareholders’ equity
|
23,999 |
23,605
|
21,404 |
23,999 |
21,404 |
|
Dividends declared per participating share
|
0.4475 |
0.4475
|
0.4475 |
1.3425 |
1.3425
|
|
Book value per participating share
|
34.07 |
33.48
|
30.24 |
34.07 |
30.24 |
|
Net asset value per participating share(2)
|
52.81 |
51.60
|
34.94 |
52.81 |
34.94 |
|
Participating shares outstanding (in millions)
|
676.5 |
676.5
|
676.3 |
676.5 |
676.3 |
(1) Comparative figures for the second quarter of 2021 have been updated to correct a clerical error.
(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 were extinguished at the close of the transaction and thereafter will not have future fair value changes. The related amounts in the comparative periods have been reclassified as an Adjustment to reflect this presentation.
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.
