ConsolidatedStatementsofComprehensiveIncome For the years ended December 31, (Canadian $ in millions) 2022 2021 Net income $ 7,182 $ 6,912 Other comprehensive income (loss) (“OCI”), net of tax: Items that may be subsequently reclassified to net income: Foreign exchange gains (losses) on: Translation of foreign operations 2,350 (514) Net investment hedges (415) 100 Available-for-sale financial securities: Unrealized gains (losses) arising during the year (7,608) (980) Reclassification of net realized (gains) losses and impairments to net income 288 (13) Cash flow hedges: Unrealized gains (losses) arising during the year 161 77 Reclassification of realized gains (losses) to net income 3 (4) Share of other comprehensive income (losses) of associates (5) (1) Total items that may be subsequently reclassified to net income (5,226) (1,335) Items that will not be reclassified to net income: Change in actuarial gains (losses) on pension and other post-employment plans 17 199 Real estate revaluation reserve (1) (11) Total items that will not be reclassified to net income 16 188 Other comprehensive income (loss), net of tax (5,210) (1,147) Total comprehensive income (loss), net of tax $ 1,972 $ 5,765 Total comprehensive income (loss) attributed to: Non-controlling interests $(4)$ 252 Participating policyholders (113) (449) Shareholders and other equity holders 2,089 5,962 IncomeTaxesincludedinOtherComprehensiveIncome For the years ended December 31, (Canadian $ in millions) 2022 2021 Income tax expense (recovery) on: Unrealized gains (losses) on available-for-sale financial securities $ (1,254) $ (181) Reclassification of net realized (gains) losses and impairments to net income on available-for-sale financial securities 30 21 Unrealized gains (losses) on cash flow hedges 55 15 Reclassification of realized gains (losses) to net income on cash flow hedges 1 (1) Unrealized foreign exchange gains (losses) on translation of foreign operations 2 – Unrealized foreign exchange gains (losses) on net investment hedges (29) 21 Share of other comprehensive income (loss) of associates (1) – Change in actuarial gains (losses) on pension and other post-employment plans 9 61 Real estate revaluation reserve 1 – Total income tax expense (recovery) $ (1,186) $ (64) TheaccompanyingnotesareanintegralpartoftheseConsolidatedFinancialStatements. 142 | 2022AnnualReport | ConsolidatedFinancialStatements