1The full year 2022 results values have been rounded and are in Canadian dollars. For values to the nearest million, see section C - Financial Summary in our 2022 Annual Management’s Discussion and Analysis (“2022 Annual MD&A”).
2Represents a non-IFRS financial measure. See section L - Non-IFRS Financial Measures in our 2022 Annual MD&A for further information.
3Underlying EPS, underlying ROE and underlying dividend payout ratio are non-IFRS financial measures. See section L - Non-IFRS Financial Measures in our 2022 Annual MD&A for further information. Underlying dividend payout ratio represents the ratio of common shareholders' dividends to diluted underlying EPS. See section I - Capital and Liquidity Management - 3 - Shareholder Dividends our 2022 Annual MD&A for further information regarding dividends.
4Our medium-term financial objectives following the adoption of IFRS 17 and IFRS 9 remain consistent for underlying earnings per share and underlying dividend payout ratio. Our underlying ROE medium-term financial objective will change to 18%+ following the adoption of both standards, an increase from 16%+ prior to transition. We continue to assess the impact that the adoption of IFRS 17 and IFRS 9 will have on our Consolidated Financial Statements and estimates of the financial impacts are subject to change. For more information, see Section J - Risk Management - 9 - Risk Categories - vii - Other Risks in our 2022 Annual MD&A.
5Although considered reasonable, we may not be able to achieve our medium-term financial objectives as our assumptions may prove to be inaccurate. Accordingly, our actual results could differ materially from our medium-term financial objectives as described above. Our medium-term financial objectives do not constitute guidance. Our medium-term financial objectives are forward-looking non-IFRS financial measures and additional information is provided our 2022 Annual MD&A in section O - Forward-looking Statements - Medium-Term Financial Objectives.
6Underlying EPS growth is calculated using a compound annual growth rate. Underlying ROE and dividend payout ratio are calculated using an average.