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)

June 30
2018

March 31
2018

June 30
2017

December 31
2017

December 31
2016

Revenues(1)

11,609

10,856

12,109

51,362

50,750

Net earnings attributable to participating shareholders

347

525

350

1,286

1,082

Net earnings per participating share

0.75

1.13

0.75

2.77

2.33

Adjusted net earnings attributable to participating shareholders(2, 3)

347

525

401

1,560

1,223

Adjusted net earnings per participating share(2, 3)

0.75

1.13

0.86

3.36

2.64

Dividends declared per participating share

0.3820

0.3585

0.3585

1.4105

1.3163

Consolidated assets(4)

455,840

457,902

434,809

445,521

422,724

Shareholders' equity

15,176

15,109

14,222

14,615

13,864

Book value per participating share

30.51

30.44

28.58

29.40

27.84

Participating shares outstanding (in millions)

465.9

464.7

463.8

464.3

463.3

(1) Comparative figures for 2017 have been adjusted as a result of IFRS 15 as described in Note 3 to the Corporation's June 30, 2018 consolidated interim financial statements.
(2) Adjusted net earnings attribuable to participating shareholders and adjusted net earnings per participating share are non-IFRS financial measures. Refer to the "Non-IFRS 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.
(3) Comparative figures for 2016 have been adjusted to reflect other items reported by Lifeco.
(4) Comparative figures have been retrospectively adjusted as described in Note 16 to the Corporation's December 31, 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(3)

33,880

31,125 24,501 21,222

20,236

Investment income, net

8,074

10,335 4,869 13,706

2,752

Fee income(3)

8,510

7,794 7,692 6,990

5,933

Other revenues

898

1,496 1,203 711

721

 

51,362

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)

3,712

3,590 3,133 2,901

2,590

Operating and administrative expenses(3)

8,132

8,023 7,239 6,066

5,448

Financing charges

512

490 480 457

440

 

47,999

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(4)    attributable to participating shareholders(5, 6)

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 December 31, 2017 consolidated financial statements.
(2) Comparative figures for 2015 have been retrospectively adjusted.
(3) Comparative figures for 2017 have been adjusted as a result of IFRS 15 as described in Note 3 to the Corporation's June 30, 2018 consolidated interim financial statements.
(4) Previously described as operating earnings.
(5) Adjusted net earnings attribuable to participating shareholders and adjusted net earnings per participating share are non-IFRS financial measures. Refer to the "Non-IFRS 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.
(6) Comparative figures for 2016 have been adjusted to reflect other items reported by Lifeco.

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