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CAPITAL STOCK (Tables)

12 Months Ended

Dec. 31, 2024

Share-Based Payment Arrangement [Abstract]

Schedule of Stockholders Equity

Activities of our capital stock for the periods included is set forth below:

Number of shares (in millions)			Common Shares						MVS
Issued and outstanding at December 31, 2021			106.1						18.6
Issued from treasury(i)			0.07						—
Cancelled under NCIB			(3.14)						—
Issued and outstanding at December 31, 2022			103.0						18.6
Issued from treasury(i)			0.05						—
Cancelled under NCIB			(2.7)						—
Conversion of MVS into Common Shares in connection with the Secondary Offerings			18.6						(18.6)
Issued and outstanding at December 31, 2023			119.0						—
Issued from treasury(i)			0.34						—
Cancelled under NCIB			(3.2)						—
Issued and outstanding at December 31, 2024			116.1						—

(i)     In 2024, 0.3 million Common Shares (2023 — 0.03 million; 2022 — 0.02 million) were issued from treasury upon the exercise of stock options for aggregate cash proceeds of $3.9 (2023 — $0.3; 2022 — $0.2). In 2024, we issued 0.04 million (2023 — 0.02 million; 2022 — 0.05 million) Common Shares from treasury with an ascribed value of $0.5 (2023 — $0.2; 2022 — $0.4) upon the vesting of certain RSUs. We settled other RSUs and PSUs with Common Shares purchased in the open market (described below).

Schedule of Share-Based Compensation Arrangements by Share-Based Payment Award

Information regarding Common Shares purchases for cancellation for the years indicated is set forth below:

			Year ended December 31
			2024			2023			2022
Aggregate cost (including transaction fees) of Common Shares repurchased for cancellation (1)			$	152.0		$	35.6		$	34.6
Number of Common Shares repurchased for cancellation (in millions) (2)			3.2			2.6			3.4
Weighted average price per share for repurchases			$	47.15		$	13.83		$	10.45

(1)     For 2023, excludes the $2.7 2023 NCIB Accrual. For 2024, excludes $2.8 accrued at December 31, 2024 for share buyback taxes.

(2)    Includes 0.5 million, 0.9 million and 2.5 million repurchases of Common Shares for cancellation under NCIB ASPPs in 2024, 2023 and 2022, respectively.

Schedule of Class of Treasury Stock

Activities of our treasury stock for the periods included is set forth below:

Number of shares for delivery under SBC plans (in millions)			Common Shares
Held by trustee at December 31, 2021			1.4
Repurchases in the open market through independent broker under SBC ASPPs (1)			3.9
Delivery under SBC plans			(3.8)
Held by trustee at December 31, 2022 (2)			1.5
Repurchases in the open market through independent broker under SBC ASPPs (1)			3.7
Delivery under SBC plans			(1.9)
Held by trustee at December 31, 2023 (2)			3.3
Repurchases in the open market through independent broker under SBC ASPPs (1)			3.0
Delivery under SBC plans			(3.8)
Held by trustee at December 31, 2024 (2)			2.5

(1)    Aggregated cost, including transaction fees, of Common Shares repurchased for delivery under SBC plans was $119.6 in 2024 (2023 — $82.3; 2022 — $44.9).

(2)    The value of Common Shares held by trustee for delivery under SBC plans was $92.9 at December 31, 2024 (December 31, 2023 — $72.6, excluding 2023 SBC accrual; December 31, 2022 — $16.7).

Schedule of Share-Based Payment Arrangement, Cost by Plan

Information regarding employee SBC expense and TRS fair value adjustments (TRS FVAs, which represent changes in fair value of TRS) for the years indicated is set forth below:

			Year ended December 31
			2024			2023			2022
Employee SBC expense in cost of sales			$	24.8		$	22.6		$	20.3
Employee SBC expense in SG&A			32.6			33.0			30.7
Total employee SBC expense			$	57.4		$	55.6		$	51.0
TRS FVAs (gains) in cost of sales			$	(39.6)		$	—		$	—
TRS FVAs (gains) in SG&A			(51.4)			—			—
TRS FVAs (gains) in miscellaneous expense (income)			—			(45.6)			—
Total TRS FVAs (gains)			$	(91.0)		$	(45.6)		$	—
Combined effect of employee SBC expense and TRS FVAs			$	(33.6)		$	10.0		$	51.0

Information regarding director SBC expense and director RSUs activity for the periods indicated is set forth below:

			Year ended December 31
			2024			2023			2022
Director SBC expense in SG&A (1)			$	2.4		$	2.4		$	2.2
Director RSUs granted:
Number of awards (in millions)			0.01			0.02			0.04
Weighted average grant date fair value per unit			$	57.20		$	18.15		$	10.44

(1)    Expense consists of director compensation to be settled with Common Shares, or Common Shares and cash.

Schedule of Share-Based Payment Arrangement, Option, Activity

Stock option grants and exercises were as follows in 2024:

			Number of Options						Weighted Average Exercise Price*
			(in millions)
Outstanding at December 31, 2023			0.37						$	12.72
Exercised by our Chief Executive Officer (CEO)			(0.30)						$	13.00
Outstanding at December 31, 2024 (1)			0.07						$	10.58

(1)    The outstanding options at December 31, 2024 (0.05 million options exercisable) were awarded to one employee, with 6.8 years of remaining life and $5.9 of intrinsic value.

Schedule of Share-Based Payment Award, Awards Other than Options, Valuation Assumptions

The assumptions used in the measurement of the grant date fair values of PSUs were as follows:

						Year ended December 31
						2024			2023			2022
Expected volatility						41		%	53		%	52		%
Expected life						3 years			3 years			3 years
Risk-free interest rate (based on 3-year Treasury bonds)						4.1		%	3.9		%	1.4		%

Schedule of Share-Based Payment Arrangement, Restricted Stock Unit, Activity

RSUs (excluding RSUs granted to directors, see (c) below) and PSUs activities in 2024 and information at December 31, 2024 were as follows:     

			RSUs									PSUs
			Number of RSUs (in millions)			Weighted average grant date fair value						Number of PSUs (in millions)*			Weighted average grant date fair value
Outstanding at December 31, 2023			3.2			$	12.64					4.6			$	12.19
Granted			0.8			$	37.74					0.5			$	43.47
Vested and exercised			(1.8)			$	12.32					(3.7)			$	9.20
Forfeited			(0.1)			$	18.90					(0.1)			$	16.01
Added by performance factor adjustment			—			$	—					1.8			$	9.15
Outstanding at December 31, 2024			2.1			$	21.63					3.1			$	19.02
At December 31, 2024:
Total remaining unrecognized compensation expense related to non-vested awards (in millions)						$10.2									$21.3
Weighted average remaining requisite service period						1.3 years									0.9 years

*    For non-vested PSUs, includes 100% of target granted.

Schedule of Nonvested Performance-Based Units Activity

RSUs (excluding RSUs granted to directors, see (c) below) and PSUs activities in 2024 and information at December 31, 2024 were as follows:     

			RSUs									PSUs
			Number of RSUs (in millions)			Weighted average grant date fair value						Number of PSUs (in millions)*			Weighted average grant date fair value
Outstanding at December 31, 2023			3.2			$	12.64					4.6			$	12.19
Granted			0.8			$	37.74					0.5			$	43.47
Vested and exercised			(1.8)			$	12.32					(3.7)			$	9.20
Forfeited			(0.1)			$	18.90					(0.1)			$	16.01
Added by performance factor adjustment			—			$	—					1.8			$	9.15
Outstanding at December 31, 2024			2.1			$	21.63					3.1			$	19.02
At December 31, 2024:
Total remaining unrecognized compensation expense related to non-vested awards (in millions)						$10.2									$21.3
Weighted average remaining requisite service period						1.3 years									0.9 years

*    For non-vested PSUs, includes 100% of target granted.

Schedule of Nonvested Share Activity

Information regarding DSUs activity for the periods indicated is set forth below:

			Number of DSUs (in millions)			Year ended Weighted average grant date fair value
DSUs outstanding at December 31, 2023			1.1			$	9.45
Granted			0.02			$	56.07
Vested and exercised			(0.4)			$	9.50
DSUs outstanding at December 31, 2024			0.7			$	10.88

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