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SHARE-BASED PAYMENTS (Tables)
 12 Months Ended
Dec. 31, 2019
Share-based payment transaction  
Summary of share-based compensation recorded during the year

 

 

 

 

 

 

 

 

 

 

 

Years ended December 31, 

 

    

2019

    

2018

Share option plan expense (i)

 

$

2.4

 

$

2.7

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

 

 

24.6

 

 

18.6

Deferred share units expense (iii)

 

 

1.1

 

 

1.1

Employer portion of employee share purchase plan (iv)

 

 

2.1

 

 

2.1

Total share-based compensation expense

 

$

30.2

 

$

24.5

 

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

 

 

 

 

 

 

 

 

 

 

 

 

 

2019

 

2018

 

    

    

    

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

 

12,344

 

$

5.77

 

12,173

 

$

6.52

Granted

 

2,042

 

 

4.59

 

1,950

 

 

4.95

Exercised

 

(1,577)

 

 

4.41

 

(301)

 

 

3.65

Forfeited

 

(741)

 

 

4.42

 

(238)

 

 

4.87

Expired

 

(1,898)

 

 

9.42

 

(1,240)

 

 

12.58

Outstanding at end of period

 

10,170

 

$

5.16

 

12,344

 

$

5.77

Exercisable at end of period

 

6,459

 

$

5.38

 

8,861

 

$

6.13

 

Summary of information about the stock options outstanding and exercisable

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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)

$

3.73

 

$

4.50

 

2,313

 

$

3.90

 
2.23

 

2,313

 

$

3.90

 
2.23

 

4.51

 

 

5.50

 

5,070

 

 

4.85

 
4.50

 

1,359

 

 

5.03

 
3.76

 

5.51

 

 

6.50

 

1,573

 

 

5.82

 
1.14

 

1,573

 

 

5.82

 
1.14

 

6.51

 

 

8.03

 

1,214

 

 

8.02

 
0.14

 

1,214

 

 

8.03

 
0.14

 

 

 

 

  

 

10,170

 

$

5.16

 
2.94

 

6,459

 

$

5.38

 
1.89

 

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

 

 

 

 

 

 

 

 

 

    

2019

    

2018

 

Weighted average share price (CDN$)

 

$

4.59

 

$

4.95

 

Expected dividend yield

 

 

0.0

%  

 

0.0

%

Expected volatility

 

 

44.8

%  

 

47.5

%

Risk-free interest rate

 

 

1.8

%  

 

2.1

%

Expected option life (in years)

 

 

4.5

 

 

4.5

 

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

 

$

1.79

 

$

2.05

 

 

Restricted share units  
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 December 31, 2019 and 2018:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2019

 

2018

 

    

    

    

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

 

7,626

 

$

4.88

 

8,277

 

$

4.63

Granted

 

5,740

 

 

4.56

 

4,258

 

 

4.85

Redeemed

 

(3,888)

 

 

4.86

 

(4,247)

 

 

4.37

Forfeited

 

(966)

 

 

4.81

 

(662)

 

 

4.86

Outstanding at end of period

 

8,512

 

$

4.68

 

7,626

 

$

4.88

 

Restricted performance share units  
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 December 31, 2019 and 2018:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2019

 

2018

 

    

    

    

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

 

4,990

 

$

5.14

 

4,886

 

$

4.52

Granted

 

2,263

 

 

4.54

 

2,807

 

 

4.77

Redeemed

 

(1,702)

 

 

4.45

 

(2,523)

 

 

3.56

Forfeited

 

(614)

 

 

4.71

 

(180)

 

 

4.75

Outstanding at end of period

 

4,937

 

$

5.16

 

4,990

 

$

5.14

 

Deferred share unit plan  
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, 

 

    

2019

    

2018

DSUs granted (000's)

 

 

269

 

 

312

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

 

$

5.39

 

$

4.39