Financial Highlights
 

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
2022

June 30
2022

Sept. 30
2021

Sept. 30
2022

Sept. 30
2021

Total revenues

13,424 10,142 18,584 33,567 50,086

Consolidated assets and assets under management (in billions)(1)

1,193 1,192 1,198 1,193 1,198

Consolidated assets and assets under administration (in billions)(1)

2,623 2,582 2,447 2,623 2,447

Net earnings (attributable to participating shareholders)

422 527 741 1,427 2,291

per share — basic 

0.63 0.78 1.09 2.12 3.38

per share — diluted

0.63 0.76 1.08 2.08 3.36

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

422 584 748 1,521 2,554

per share — basic(2)

0.63 0.87 1.10 2.26 3.77

Participating shareholders equity

22,315 22,216 23,045 22,315 23,045

Book value per participating share

33.40 33.18 34.07 33.40 34.07

Adjusted net asset value(1)

26,311 27,780 35,725 26,311 35,725

Adjusted net asset value per participating share(2)

39.38 41.49 52.81 39.38 52.81

Dividends declared per participating share

0.4950 0.4950 0.4475 1.4850 1.3425

Participating shares outstanding (in millions)

668.1 669.5 676.5 668.1 676.5
(1) These measures are non-IFRS measures. Non-IFRS financial measures do not have a standard meaning and may not be comparable to similar measures used by other entities. For definitions, further explanations of uses and reconciliations of such non-IFRS financial measures to measures prescribed by IFRS, refer to the “Non-IFRS Financial Measures” and “Adjusted Net Asset Value” sections of Part A of the Corporation’s Management’s Discussion and Analysis for the interim financial periods ended September 30, 2022 and June 30, 2022, located under the Corporation’s profile on SEDAR at www.sedar.com, which definitions, explanations and reconciliations are incorporated herein by reference.
(2) These measures are non-IFRS ratios. Non-IFRS ratios do not have a standard meaning and may not be comparable to similar measures used by other entities. For definitions or further explanations of uses and reconciliations of such non-IFRS financial measures to measures prescribed by IFRS, refer to the “Non-IFRS Financial Measures” and “Adjusted Net Asset Value” sections of Part A of the Corporation’s Management’s Discussion and Analysis for interim financial periods ended September 30, 2022 and June 30, 2022, located under the Corporation's profile on SEDAR at
www.sedar.com, which definitions, explanations and reconciliations are incorporated herein by reference.

 

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

2021 2020 2019

Total revenues 

69,561

64,616 48,841

Consolidated assets and assets under management (in billions)(1)

1,237

1,142 941

Consolidated assets and assets under administration (in billions)(1)

2,549

2,195 1,823

Net earnings (attributable to participating shareholders)

2,917

1,994 1,108

per share — basic 

4.31

3.08 2.53

per share — diluted

4.27

3.08 2.53

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

3,230

1,988 1,275

per share — basic(2)(3)

4.77

3.07 2.92
Consolidated assets 

661,633

629,104 477,250
Total financial liabilities 

44,269

38,275 26,355
Debentures and other debt instruments

13,180

14,055 9,938
Non-participating shares

954

956 960
Participating shareholders' equity

23,385

21,251 13,214
Book value per participating share

34.56

31.38 30.98

Adjusted net asset value(1)

35,587

27,951 19,183
Adjusted net asset value per participating share(3) 

52.60

41.27 44.98

Dividends declared on participating share(4)

1.8375

1.7900 2.0020

Number of participating shares outstanding (in millions)

 

   

Participating preferred shares

54.9

54.9 48.9

Subordinate voting shares

621.8

622.4 377.6

(1) These measures are non-IFRS measures. Non-IFRS financial measures do not have a standard meaning and may not be comparable to similar measures used by other entities. For definitions, further explanations of uses and reconciliations of such non-IFRS financial measures to measures prescribed by IFRS, refer to the “Non-IFRS Financial Measures” and “Adjusted Net Asset Value” sections of Part A of the Corporation’s Management’s Discussion and Analysis for the financial year ended December 31, 2021, located under the Corporation’s profile on SEDAR at www.sedar.com, which definitions, explanations and reconciliations are incorporated herein by reference.
(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 Financial Measures” section of Part A of the Corporation’s Management’s Discussion and Analysis for the financial year ended December 31, 2021, located under the Corporation’s profile on SEDAR at
www.sedar.com, which definition is incorporated herein by reference. The comparative periods have been restated to reflect the introduction of this modified measure.
(3) These measures are non-IFRS ratios. Non-IFRS financial ratios do not have a standard meaning and may not be comparable to similar measures used by other entities. For definitions, further explanations of uses and reconciliations of such non-IFRS financial measures to measures prescribed by IFRS, refer to the “Non-IFRS Financial Measures” and “Adjusted Net Asset Value” sections of Part A of the Corporation’s Management’s Discussion and Analysis for the financial year ended December 31, 2021, located under the Corporation’s profile on SEDAR at www.sedar.com, which definitions, explanations and reconciliations are incorporated herein by reference.

(4) 2019 includes the dividend declared by the Corporation on December 12, 2019, as part of the Reorganization.

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