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Share-based payments (Tables)

12 Months Ended

Dec. 31, 2021

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Compensation Costs Related to Share-Based Payments

Share-based payments consist of the following compensation costs:

​	​	​	​	​	​	​	​	​	​	​
​	​	​	​	​	​	​	​	​	​	​
​	​	​	​	​	​	​	​	​	​	​
Year ended December 31,		​	2021			2020			2019
SG&A expenses:		​	​			​			​
Stock option compensation expense	​	​	$	8,365	​	$	5,853	​	$	4,697
Equity-classified share units	​	​	​	12,574	​		9,897	​		8,047
Liability-classified share units	​	​	​	(580)	​		3,635	​		1,380
Employee share purchase plan - employer contributions	​	​		2,747	​		2,497	​		2,281
​	​	​	​	23,106	​	​	21,882	​	​	16,405
Acquisition-related costs:	​	​		​	​	​	​	​	​	​
Share-based continuing employment costs	​	​		10,771	​	​	802	​	​	—
​	​	​		10,771	​	​	802	​	​	—
​	​	​	$	33,877	​	$	22,684	​	$	16,405

Summary of Stock Option Activity

Stock option activity is presented below:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Stock options

​

Premium-priced stock options

​

​

​

​

​

​

WA

​

​

​

​

​

​

​

​

​

WA

​

​

​

​

Common

​

WA

​

remaining

​

Aggregate

​

Common

​

WA

​

remaining

​

Aggregate

​

shares under

​

exercise

​

contractual

​

intrinsic

​

shares under

​

exercise

​

contractual

​

intrinsic

​

option

price

life (in years)

value

option

price

life (in years)

value

Outstanding, December 31, 2018

4,013,863

​

$

26.41

​

7.2

​

$

25,374

​

—

​

$

—

​

—

​

​

—

Granted

914,068

​

34.03

​

—

​

—

​

—

​

—

​

—

​

​

—

Exercised

(1,672,022)

​

24.58

​

​

—

​

​

27,349

​

—

​

—

​

​

—

​

​

—

Forfeited

(458,092)

​

32.15

​

—

​

—

​

—

​

—

​

—

​

​

—

Expired

(628)

​

​

24.44

​

​

—

​

​

—

​

—

​

​

—

​

​

—

​

​

—

Outstanding, December 31, 2019

2,797,189

​

$

29.05

​

7.1

​

$

38,874

​

—

​

$

—

​

—

​

​

—

Granted

822,626

​

41.94

​

—

​

—

​

—

​

—

​

—

​

​

—

Exercised

(1,563,941)

​

28.22

​

​

—

​

​

37,062

​

—

​

—

​

​

—

​

​

—

Forfeited

(68,056)

​

34.30

​

—

​

—

​

—

​

—

​

—

​

—

Expired

(2,064)

​

​

20.74

​

​

—

​

​

—

​

—

​

​

—

​

​

—

​

​

—

Outstanding, December 31, 2020

1,985,754

​

$

34.95

​

7.7

​

$

68,717

​

—

​

​

—

​

​

—

​

​

—

Granted

758,256

​

​

56.29

​

—

​

—

​

1,017,064

​

​

91.24

​

​

—

​

​

—

Exercised

(495,021)

​

​

32.83

​

​

—

​

​

14,147

​

—

​

​

—

​

​

—

​

​

—

Forfeited

(40,932)

​

​

45.86

​

—

​

—

​

—

​

​

—

​

—

​

—

Outstanding, December 31, 2021

2,208,057

​

​

42.55

​

​

7.7

​

​

41,884

​

1,017,064

​

​

91.24

​

​

5.7

​

​

—

Exercisable, December 31, 2021

858,928

​

​

32.51

​

​

6.2

​

​

24,667

​

—

​

$

—

​

—

​

$

—

Summary of Share Unit Activity

In 2021, the Company granted PSUs with market conditions to senior executives.

​

Share unit activity is presented below:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Equity-classified awards

​

Liability-classified awards

​

​

PSUs

​

PSUs with Market Conditions

​

RSUs

​

DSUs

​

​

​

​

WA grant

​

​

​

WA grant

​

​

​

WA grant

​

​

​

​

WA grant

​

​

​

​

date fair

​

​

​

date fair

​

​

​

date fair

​

​

​

​

date fair

​

Number

value

Number

value

Number

value

​

Number

value

Outstanding, December 31, 2018

670,288

​

$

31.46

​

—

​

$

—

​

207,986

​

$

28.99

​

113,435

​

$

28.16

Granted

170,208

​

36.13

​

—

​

—

​

36,350

​

35.40

​

24,810

​

35.99

Vested and settled

(251,883)

​

30.33

​

—

​

—

​

(265)

​

31.98

​

(19,877)

​

27.45

Forfeited

(159,889)

​

33.21

​

—

​

—

​

(6,651)

​

34.27

​

—

​

—

Outstanding, December 31, 2019

428,724

​

$

32.89

​

—

​

$

—

​

237,420

​

$

29.72

​

118,368

​

$

29.64

Granted

303,829

​

42.09

​

—

​

—

​

45,781

​

51.36

​

19,146

​

47.01

Vested and settled

(156,238)

​

31.94

​

—

​

—

​

(98,542)

​

27.68

​

—

​

—

Forfeited

(33,639)

​

36.60

​

—

​

—

​

(49,722)

​

28.14

​

—

​

—

Outstanding, December 31, 2020

542,676

​

$

38.09

​

—

​

$

—

​

134,937

​

$

39.14

​

137,514

​

$

32.06

Granted

160,713

​

57.67

​

88,305

​

65.45

​

46,675

​

60.98

​

19,075

​

58.48

Vested and settled

(161,248)

​

31.14

​

—

​

—

​

(93,426)

​

35.04

​

—

​

—

Forfeited

(18,523)

​

47.58

​

—

​

—

​

(9,074)

​

55.81

​

—

​

—

Outstanding, December 31, 2021

523,618

​

$

45.90

​

88,305

​

$

65.45

​

79,112

​

$

54.96

​

156,589

​

$

35.28

​

Stock Option Plan [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Summary of Significant Assumptions Used to Estimate the Fair Value of Stock Options

​

​	​	​	​	​	​	​	​
Year ended December 31,		2021		2020		2019
Risk free interest rate		0.5	%	0.7	%	2.5	%
Expected dividend yield		1.64	%	1.96	%	2.06	%
Expected lives of the stock options		4	years	5	years	5	years
Expected volatility		32.3	%	28.0	%	26.8	%

Premium Priced Stock Options [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Summary of Significant Assumptions Used to Estimate the Fair Value of Stock Options

​

​	​	​	​
Year ended December 31,		2021
Risk free interest rate		1.1	%
Expected dividend yield		1.59	%
Expected lives of the stock options	​	5	years
Expected volatility		30.6	%

Performance Share Units, Equity Classified Awards [Member] | Senior Executive and Employee Performance Share Unit Plans [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Summary of Significant Assumptions Used to Estimate the Fair Value of Stock Options

​

​	​	​	​	​
Year ended December 31,	​	2021		​
Risk free interest rate	​	0.5	%	​
Expected dividend yield	​	1.63	%	​
Expected lives of the PSUs	​	3	years	​
Expected volatility	​	31.0	%	​
Average expected volatility of comparable companies	​	38.6	%	​

X

- Definition

Tabular disclosure of cost recognized for award under share-based payment arrangement by plan. Includes, but is not limited to, related tax benefit.

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