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
2019

Sept. 30
2019

Dec. 31
2018

Dec. 31
2019

Dec. 31
2018

Revenues

11,485 15,158 12,438 47,802 47,025

Net earnings attributable to common shareholders

401 584 478 1,964 2,245

Net earnings per common share

0.60 0.88 0.67 2.89 3.15

Adjusted net earnings attributable to common shareholders(1)

591 590 460 2,306 2,282

Adjusted net earnings per common share(1)

0.89 0.89 0.65 3.40 3.20

Dividends declared per common share

0.4555 0.4555 0.4330 1.8220 1.7320

Consolidated assets

471,372 466,573 447,055 471,372 447,055

Shareholders’ equity

20,815 20,162 21,580 20,815 21,580

Book value per common share

27.08 26.10 26.26 27.08 26.26

Common shares outstanding (in millions)

664.1 664.1 714.1 664.1 714.1

(1) Adjusted net earnings attribuable to common shareholders and adjusted net earnings per common 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.

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

2019 2018 2017

2016

2015

Consolidated Balance Sheets

         

Cash and cash equivalents

6,272

5,624 5,321 4,396

4,188

Total assets

471,372

447,055 440,224 418,407

417,630

Shareholders’ equity

20,815

21,580 20,513 19,481

19,473

Consolidated Statements of Earnings

         

Revenues

         

Total net premiums

24,489

35,440 33,880 31,125

24,501

Net investment income

13,247

2,822 7,610 10,203

4,319

Fee income

10,066

8,763 8,497 7,794

7,692

Total revenues

47,802

47,025 49,987 49,122

36,512

Expenses

         

Total paid or credited to policyholders

33,091

32,068 35,643 34,675

22,842

Commissions

3,480

3,512 3,712 3,590

3,133

Operating and administrative expenses

7,237

6,997 7,002 6,380

5,883

Financing charges

435

360 432 412

413

Total expenses 

44,243

42,937 46,789 45,057

32,271

Earnings before investments in jointly controlled corporations and associates, and income taxes

3,559

4,088 3,198 4,065

4,241

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

211

94 200 (98)

224

Earnings before income taxes

3,770

4,182 3,398 3,967

4,465

Income taxes

601

602 584 581

679

Net earnings

3,169

3,580 2,814 3,386

3,786

Attributable to

         

Non-controlling interests

1,066

1,197 964 1,343

1,337

Perpetual preferred shareholders

139

138 133 124

130

Common shareholders

1,964

2,245 1,717 1,919

2,319

 

3,169

3,580 2,814 3,386

3,786

Per share

         

Net earnings attributable to common shareholders

2.89

3.15 2.41 2.69

3.25

Adjusted net earnings attributable to common shareholders(1)

3.40

3.20 2.99 2.99

3.14

Dividends declared on common shares

1.82

1.73 1.65 1.57

1.49

Book value per common share 

27.08

26.26 24.77 23.69

23.69

Market price (Common shares)

         

High

36.02

34.88 37.00 34.70

38.78

Low

25.45

25.21 31.91 29.02

30.28

Year-end

34.94

25.83 34.54 33.56

31.81

(1) Adjusted net earnings attribuable to common shareholders per share is a non-IFRS financial measure. 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.

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