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CAPITAL STOCK (Tables) | 3 Months Ended
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Mar. 31, 2025
Share-Based Payment Arrangement [Abstract] |
Schedule of Stockholders Equity | Activities with respect to our capital stock for the periods indicated are set forth below:
Number of shares (in millions) | Common Shares
Issued and outstanding at December 31, 2023 | 119.0 |
Issued from treasury (1) | 0.3 |
Cancelled under normal course issuer bids (NCIB) | (0.5) |
Issued and outstanding at March 31, 2024 | 118.8 |
Issued and outstanding at December 31, 2024 | 116.1 |
Issued from treasury (1) | 0.1 |
Cancelled under NCIB | (0.6) |
Issued and outstanding at March 31, 2025 | 115.6 |
(1) From time to time, we issue shares from treasury to settle our vested stock options, restricted share units (RSUs) and performance share units (PSUs). In Q1 2025, no stock options were exercised. In Q1 2024, 0.3 million shares were issued from treasury upon the exercise of stock options for aggregate cash proceeds of $3.9.
Schedule of Share-Based Compensation Arrangements by Share-Based Payment Award | Information regarding Common Shares purchases in Q1 2025 and Q1 2024 for cancellation and for SBC plan delivery obligations (including under ASPPs) is set forth below:
| Three months ended March 31 |  |  |
| 2025 |  | 2024 |  |  |  |  |  |  |  |
Aggregate cost (including transaction fees and excluding share buyback taxes) of Common Shares repurchased for cancellation | $ | 75.0 |  |  | $ | 16.5 |  |  |  |  |  |  |  |  |
Number of Common Shares repurchased for cancellation (in millions)(1) | 0.6 |  |  | 0.5 |  |  |  |  |  |  |  |  |
Weighted average price per share for repurchases | $ | 114.46 |  |  | $ | 35.96 |  |  |  |  |  |  |  |  |
Aggregate cost (including transaction fees) of Common Shares repurchased for delivery under SBC plans | $ | 221.6 |  |  | $ | 101.6 |  |  |  |  |  |  |  |  |
Number of Common Shares repurchased for delivery under SBC plans (in millions)(2) | 1.7 |  |  | 2.8 |  |  |  |  |  |  |  |  |
(1) For Q1 2024, includes 0.5 million Common Shares purchased for cancellation under NCIB ASPPs. (2) Consists entirely of SBC ASPP purchases through an independent broker. Information regarding RSU, PSU and DSU grants to employees and directors, as applicable, for the periods indicated is set forth below (no stock options were granted in the periods below):
| Three months ended March 31 |  |  |
| 2025 |  | 2024 |  |  |  |  |  |  |
RSUs Granted:
Number of awards (in millions) | 0.2 |  |  | 0.7 |  |  |  |  |  |  |  |
Weighted average grant date fair value per unit | $ | 120.67 |  |  | $ | 36.37 |  |  |  |  |  |  |  |
PSUs Granted:
Number of awards (in millions, representing 100% of target) | 0.2 |  |  | 0.5 |  |  |  |  |  |  |  |
Weighted average grant date fair value per unit | $ | 147.23 |  |  | $ | 43.34 |  |  |  |  |  |  |  |
DSUs Granted:
Number of awards (in millions) | 0.004 |  |  | 0.01 |  |  |  |  |  |  |  |
Weighted average grant date fair value per unit | $ | 79.28 |  |  | $ | 43.75 |  |  |  |  |  |  |  |
Schedule of Share-Based Payment Arrangement, Cost by Plan | Information regarding employee and director SBC expense and TRS FVAs (which represent changes in fair value of the TRS) for the periods indicated is set forth below:
| Three months ended March 31 |  |  |
| 2025 |  | 2024 |  |  |  |  |  |  |  |
Employee SBC expense in cost of sales | $ | 10.1 |  |  | $ | 8.9 |  |  |  |  |  |  |  |  |
Employee SBC expense in SG&A | 15.9 |  |  | 13.8 |  |  |  |  |  |  |  |  |
Total employee SBC expense | $ | 26.0 |  |  | $ | 22.7 |  |  |  |  |  |  |  |  |
TRS FVAs: losses (gains) in cost of sales | $ | 7.5 |  |  | $ | (12.8) |  |  |  |  |  |  |  |  |
TRS FVAs: losses (gains) in SG&A | 11.6 |  |  | (18.7) |  |  |  |  |  |  |  |  |
Total TRS FVAs: losses (gains) | $ | 19.1 |  |  | $ | (31.5) |  |  |  |  |  |  |  |  |
Combined effect of employee SBC expense and TRS FVAs | $ | 45.1 |  |  | $ | (8.8) |  |  |  |  |  |  |  |  |
Director SBC expense in SG&A(1) | $ | 0.6 |  |  | $ | 0.6 |  |  |  |  |  |  |  |  |
(1) Expense consists of director compensation to be settled with Common Shares, or Common Shares and cash.

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