Shareholders' Equity (Tables)

12 Months Ended

Dec. 31, 2016

Equity [Abstract]

Analysis of Common Share Balances

An analysis of Common Share balances is as follows:

(number of shares in millions)	2016		2015		2014
Share capital, January 1	153.0		166.1		175.4
CP Common Shares repurchased	(6.9	)	(13.7	)	(10.3	)
Shares issued under stock option plan	0.2		0.6		1.0
Share capital, December 31	146.3		153.0		166.1

Activities Under Shares Repurchase Program

The following table provides the activities under the share repurchase programs:

	2016		2015		2014
Number of Common Shares repurchased(1)	6,910,000		13,549,977		10,476,074
Weighted-average price per share(2)	$	175.08	$	202.79	$	199.42
Amount of repurchase (in millions)(2)	$	1,210	$	2,748	$	2,089

⁽¹⁾ Excludes shares repurchased and not yet cancelled in the prior year.

⁽²⁾ Includes brokerage fees.