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SHARE-BASED PAYMENTS (Tables)
 12 Months Ended
Dec. 31, 2018
Share-based payment transaction  
Summary of share-based compensation recorded during the year

 

 

 

 

 

 

 

 

 

 

 

 

Years ended December 31, 

 

 

    

2018

    

2017

 

Share option plan expense (i)

 

$

2.7

 

$

2.4

 

Restricted share unit plan expense, including restricted performance shares (ii)

 

 

18.6

 

 

23.4

 

Deferred share units expense (iii)

 

 

1.1

 

 

1.2

 

Employer portion of employee share purchase plan (iv)

 

 

2.1

 

 

2.0

 

Total share-based compensation expense

 

$

24.5

 

$

29.0

 

 

Share options  
Share-based payment transaction  
Summary of status of the share option plan and changes during the year

 

The following table summarizes the status of the share option plan and changes during the years ended December 31, 2018 and 2017:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2018

 

2017

 

 

    

    

    

Weighted average

    

    

    

Weighted average

 

 

 

Number of options

 

exercise price

 

Number of options

 

exercise price

 

 

 

(000’s)

 

(CDN$/option)

 

(000’s)

 

(CDN$/option)

 

Balance at January 1

 

12,173

 

 

6.52

 

12,429

 

$

6.95

 

Granted

 

1,950

 

 

4.95

 

1,669

 

 

5.06

 

Exercised

 

(301)

 

 

3.65

 

(265)

 

 

4.09

 

Forfeited

 

(238)

 

 

4.87

 

(1,567)

 

 

8.74

 

Expired

 

(1,240)

 

 

12.58

 

(93)

 

 

7.38

 

Outstanding at end of period

 

12,344

 

$

5.77

 

12,173

 

$

6.52

 

Exercisable at end of period

 

8,861

 

$

6.13

 

8,539

 

$

7.41

 

 

Summary of information about the stock options outstanding and exercisable

 

The following table summarizes information about the stock options outstanding and exercisable at December 31, 2018:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Options outstanding

 

Options exercisable

 

 

 

 

 

 

 

 

 

 

 

 

Weighted

 

 

 

 

 

 

Weighted

 

 

 

 

 

 

 

 

 

Weighted

 

average

 

 

 

Weighted

 

average

 

 

 

 

 

 

 

Number of

 

average

 

remaining

 

Number of

 

average

 

remaining

 

 

 

options

 

exercise price

 

contractual life

 

options

 

exercise price

 

contractual life

 

Exercise price range in CDN$:

    

(000’s )

    

(CDN$)

    

(years)

    

(000’s )

    

(CDN$)

    

(years)

 

$

2.96

 

$

4.56

 

3,764

 

$

3.89

 
3.18

 

3,265

 

$

3.85

 
3.05

 

 

4.57

 

 

5.19

 

3,512

 

 

5.00

 
5.58

 

529

 

 

5.10

 
5.02

 

 

5.20

 

 

7.97

 

2,019

 

 

5.80

 
2.05

 

2,019

 

 

5.80

 
2.05

 

 

7.98

 

 

10.99

 

3,049

 

 

8.96

 
0.73

 

3,048

 

 

8.96

 
0.73

 

 

 

 

 

  

 

12,344

 

$

5.77

 
3.07

 

8,861

 

$

6.13

 
2.14

 

 

Summary of weighted average assumptions used in computing the fair value of stock options using the Black-Scholes option pricing model

The following weighted average assumptions were used in computing the fair value of stock options using the Black-Scholes option pricing model granted during the years ended December 31, 2018 and 2017:

 

 

 

 

 

 

 

 

 

 

    

2018

    

2017

 

Weighted average share price (CDN$)

 

$

4.95

 

$

5.06

 

Expected dividend yield

 

 

0.0

%  

 

0.0

%

Expected volatility

 

 

47.5

%  

 

49.3

%

Risk-free interest rate

 

 

2.1

%  

 

1.1

%

Expected option life (in years)

 

 

4.5

 

 

4.5

 

Weighted average fair value per stock option granted (CDN$)

 

$

2.05

 

$

2.09

 

 

RSUs  
Share-based payment transaction  
Summary of information about number of units of other equity instruments and their weighted average fair value

 

The following table summarizes information about the RSUs and related changes during the years ended at December 31, 2018 and 2017:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2018

 

2017

 

 

    

    

    

Weighted average

    

    

    

Weighted average

 

 

 

Number of units

 

fair value

 

Number of units

 

fair value

 

 

 

(000’s)

 

(CDN$/unit)

 

(000’s)

 

(CDN$/unit)

 

Balance at January 1

 

8,277

 

$

4.63

 

9,219

 

$

4.01

 

Granted

 

4,258

 

 

4.85

 

5,128

 

 

5.07

 

Redeemed

 

(4,247)

 

 

4.37

 

(4,847)

 

 

4.01

 

Forfeited

 

(662)

 

 

4.86

 

(1,223)

 

 

4.24

 

Outstanding at end of period

 

7,626

 

$

4.88

 

8,277

 

$

4.63

 

 

RPSUs  
Share-based payment transaction  
Summary of information about number of units of other equity instruments and their weighted average fair value

The following table summarizes information about the RPSUs and related changes during the years ended at December 31, 2018 and 2017:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2018

 

2017

 

 

    

    

    

Weighted average

    

    

    

Weighted average

 

 

 

Number of units

 

fair value

 

Number of units

 

fair value

 

 

 

(000’s)

 

(CDN$/unit)

 

(000’s)

 

(CDN$/unit)

 

Balance at January 1

 

4,886

 

$

4.52

 

4,993

 

$

4.51

 

Granted

 

2,807

 

 

4.77

 

1,209

 

 

5.32

 

Redeemed

 

(2,523)

 

 

3.56

 

(889)

 

 

5.39

 

Forfeited

 

(180)

 

 

4.75

 

(427)

 

 

4.81

 

Outstanding at end of period

 

4,990

 

$

5.14

 

4,886

 

$

4.52

 

 

DSUs  
Share-based payment transaction  
Summary of information about number of units of other equity instruments and their weighted average fair value

:

 

 

 

 

 

 

 

 

 

 

 

Years ended December 31, 

 

 

    

2018

    

2017

 

DSUs granted (000’s)

 

 

312

 

 

297

 

Weighted average grant-date fair value (CDN$/ unit)

 

$

4.39

 

$

5.15