Sun Life 2015 Annual Report Download - page 96
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CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY
For the years ended December 31, (in millions of Canadian dollars) 2015 2014
Shareholders:
Preferred shares (Note 16)
Balance, beginning of year $ 2,257 $ 2,503
Redemption of preferred shares –(246)
Balance, end of year 2,257 2,257
Common shares (Note 16)
Balance, beginning of year 8,465 8,304
Stock options exercised 54 83
Common shares purchased for cancellation (74) (13)
Issued under dividend reinvestment and share purchase plan 88 91
Issued as consideration for business acquisition (Note 3) 34 –
Balance, end of year 8,567 8,465
Contributed surplus
Balance, beginning of year 83 95
Share-based payments 34
Stock options exercised (10) (16)
Balance, end of year 76 83
Retained earnings
Balance, beginning of year 6,762 5,899
Net income (loss) 2,285 1,873
Redemption of preferred shares (Note 16) –(4)
Dividends on common shares (918) (869)
Dividends on preferred shares (100) (111)
Common shares purchased for cancellation (Note 16) (138) (26)
Balance, end of year 7,891 6,762
Accumulated other comprehensive income (loss), net of taxes
Unrealized gains (losses) on available-for-sale assets 548 329
Unrealized cumulative translation differences, net of hedging activities 773 110
Unrealized gains (losses) on transfers to investment properties 66
Unrealized gains (losses) on derivatives designated as cash flow hedges 613
Cumulative changes in liabilities for defined benefit plans (169) (32)
Balance, beginning of year 1,164 426
Total other comprehensive income (loss) for the year 1,295 738
Balance, end of year 2,459 1,164
Total shareholders’ equity, end of year $ 21,250 $ 18,731
Participating policyholders:
Retained earnings
Balance, beginning of year $ 135 $ 126
Net income (loss) 15 9
Balance, end of year 150 135
Accumulated other comprehensive income (loss), net of taxes
Unrealized cumulative translation differences, net of hedging activities 61
Balance, beginning of year 61
Total other comprehensive income (loss) for the year 12 5
Balance, end of year 18 6
Total participating policyholders’ equity, end of year $ 168 $ 141
Total equity $ 21,418 $ 18,872
The attached notes form part of these Consolidated Financial Statements.
94 Sun Life Financial Inc. Annual Report 2015 Consolidated Financial Statements