XML 69 R30.htm IDEA: XBRL DOCUMENT
v3.22.0.1

Equity and dividends | 12 Months Ended
--- | ---
Dec. 31, 2021
Equity and dividends |
Equity and dividends | 23. Equity and dividends Share capital Common stock Unlimited number of common shares, without par value. Preferred stock Unlimited number of senior preferred shares, without par value, issuable in series. Unlimited number of junior preferred shares, without par value, issuable in series. All issued shares are fully paid. No preferred shares have been issued. Shares issued for business combinations The Company has issued the following common shares in connection with the acquisitions of Rouse and SmartEquip. These shares were issued to certain previous unitholders and shareholders of Rouse and SmartEquip, based on the fair market value of the Company’s common shares at the acquisition date. The Company records share-based continuing employment costs in acquisition-related costs over the vesting period, with an increase to additional paid-in capital. The vesting of shares issued for business combinations is subject to continuing employment with the Company over various dates over a three year period from their respective acquisition dates. As and when the common shares vest, the Company will recognize the fair value of the issued common shares from additional paid-in capital to share capital. ​ Shares issuance for business combination activity is presented below: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | Rouse | ​ | SmartEquip | ​ | Total
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ |  | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Weighted average
​ | Common | ​ | Fair value | ​ | Common | ​ | Fair value |  | Common | ​ | fair value
​ | shares | ​ | per common | ​ | shares | ​ | per common |  | shares | ​ | per common
​ | issued |  | shares |  | issued |  | shares |  | issued |  | shares
Outstanding, December 31, 2018 | — | ​ | $ | — | ​ | — | ​ | $ | — | ​ | — | ​ | $ | —
Granted | — | ​ |  | — | ​ | — | ​ |  | — | ​ | — | ​ |  | —
Forfeited | — | ​ |  | — | ​ | — | ​ |  | — | ​ | — | ​ |  | —
Outstanding, December 31, 2019 | — | ​ | $ | — | ​ | — | ​ | $ | — | ​ | — | ​ | $ | —
Granted | 312,193 | ​ |  | 71.09 | ​ | — | ​ |  | — | ​ | 312,193 | ​ |  | 71.09
Forfeited | — | ​ |  | — | ​ | — | ​ |  | — | ​ | — | ​ |  | —
Outstanding, December 31, 2020 | 312,193 | ​ | $ | 71.09 | ​ | — | ​ | $ | — | ​ | 312,193 | ​ | $ | 71.09
Granted | — | ​ | ​ | — | ​ | 63,971 | ​ | ​ | 68.39 | ​ | 63,971 | ​ | ​ | 68.39
Vested | (67,018) | ​ | ​ | 71.09 | ​ | ​ | ​ | ​ | ​ | ​ | (67,018) | ​ | ​ | 71.09
Forfeited | (55,510) | ​ | ​ | 71.09 | ​ | — | ​ | ​ | — | ​ | (55,510) | ​ | ​ | 71.09
Outstanding, December 31, 2021 | 189,665 | ​ | $ | 71.09 | ​ | 63,971 | ​ | $ | 68.39 | ​ | 253,636 | ​ | $ | 70.41
​ In 2021, the Company recognized $4,764,000 of share capital from additional paid-in capital for the portion of common shares previously issued in connection with the acquisition of Rouse that have vested as of December 31, 2021. As at December 31, 2021, the unrecognized share-based continuing employment costs was $10,733,000 (2020: $19,933,000), which is expected to be recognized over a weighted average period of 1.6 years. ​ 23. Equity and dividends (continued) Share repurchase There were no common shares repurchased during the year ended December 31, 2021. There were 1,525,312 common shares repurchased for $53,170,000 in the year ended December 2020 and 1,223,674 common shares repurchased for $42,012,000 in the year ended December 2019. Change in non-controlling interest ​ On September 13, 2021, the Company purchased the remaining 25% membership interest in of Xcira, LLC, a Delaware limited liability Company, for a purchase price of $5,555,555. The transaction increased the Company’s ownership interest in Xcira, LLC to 100%. ​ Dividends Declared and paid The Company declared and paid the following dividends during the years ended December 31, 2021, 2020, and 2019: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | ​ |  | Dividend |  | ​ |  | Total |  | ​
​ | ​ | Declaration date | ​ | per share | ​ | Record date | ​ | dividends | ​ | Payment date
Year ended December 31, 2021: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Fourth quarter 2020 | ​ | January 22, 2021 | ​ | $ | 0.2200 | ​ | February 12, 2021 | ​ | $ | 24,181 | ​ | March 5, 2021
First quarter 2021 | ​ | May 7, 2021 | ​ | ​ | 0.2200 | ​ | May 26, 2021 | ​ | ​ | 24,279 | ​ | June 16, 2021
Second quarter 2021 | ​ | August 4, 2021 | ​ | ​ | 0.2500 | ​ | August 25, 2021 | ​ | ​ | 27,607 | ​ | September 15, 2021
Third quarter 2021 | ​ | November 3, 2021 | ​ | ​ | 0.2500 | ​ | November 24, 2021 | ​ | ​ | 27,652 | ​ | December 15, 2021
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Year ended December 31, 2020: | ​ |  | ​ |  |  | ​ |  | ​ |  |  | ​ |
Fourth quarter 2019 | ​ | January 24, 2020 | ​ | $ | 0.2000 | ​ | February 14, 2020 | ​ | $ | 21,905 | ​ | March 6, 2020
First quarter 2020 | ​ | May 6, 2020 | ​ |  | 0.2000 | ​ | May 27, 2020 | ​ |  | 21,681 | ​ | June 17, 2020
Second quarter 2020 | ​ | August 5, 2020 | ​ |  | 0.2200 | ​ | August 26, 2020 | ​ |  | 24,053 | ​ | September 16, 2020
Third quarter 2020 | ​ | November 4, 2020 | ​ |  | 0.2200 | ​ | November 25, 2020 | ​ |  | 24,098 | ​ | December 16, 2020
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Year ended December 31, 2019: | ​ |  | ​ |  |  | ​ |  | ​ |  |  | ​ |
Fourth quarter 2018 | ​ | January 25, 2019 | ​ | $ | 0.1800 | ​ | February 15, 2019 | ​ | $ | 19,568 | ​ | March 8, 2019
First quarter of 2019 | ​ | May 8, 2019 | ​ |  | 0.1800 | ​ | May 29, 2019 | ​ |  | 19,592 | ​ | June 19, 2019
Second quarter of 2019 | ​ | August 8, 2019 | ​ |  | 0.2000 | ​ | August 28, 2019 | ​ |  | 21,631 | ​ | September 18, 2019
Third quarter 2019 | ​ | November 7, 2019 | ​ |  | 0.2000 | ​ | November 27, 2019 | ​ |  | 21,744 | ​ | December 18, 2019
​ Declared and undistributed In addition to the above dividends, since the end of the year the Directors have recommended the payment of a final dividend of $0.25 per common share, accumulating to a total dividend of $27,658,000. The aggregate amount of the proposed final dividend is expected to be paid out of retained earnings on March 4, 2022 to stockholders of record on February 11, 2022. This dividend has not been recognized as a liability in the financial statements. The payment of this dividend will not have a tax consequence for the Company. ​ Foreign currency translation reserve Foreign currency translation adjustment includes intra-entity foreign currency transactions that are of a long-term investment nature, which generated net loss of $8,763,000 for 2021 (2020: net gain of $10,826,000; 2019: net loss of $1,082,000).

X
- References No definition available. + Details
Name: | us-gaap_EquityAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 13 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496158-112644 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 13 -URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496158-112644 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 14 -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496171-112644 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 14 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496171-112644 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.3-04) -URI http://asc.fasb.org/extlink&oid=120397183&loc=d3e187085-122770 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 18 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496189-112644 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 13 -Subparagraph (g) -URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496158-112644 Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -URI http://asc.fasb.org/topic&trid=2208762 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 18 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496189-112644 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 13 -Subparagraph (h) -URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496158-112644 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 14 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496171-112644 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 18 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496189-112644 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 16 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496180-112644 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 13 -Subparagraph (i) -URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496158-112644 Reference 15: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08(e)(1)) -URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690 + Details
Name: | us-gaap_StockholdersEquityNoteDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration