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Share Capital and Employee Compensation Plans (Tables)

12 Months Ended

Dec. 31, 2024

Disclosure of terms and conditions of share-based payment arrangement [line items]

Disclosure of number and weighted average exercise prices of share options

The following table summarizes changes in stock options for the years ended December 31:

			Stock Options Outstanding
			Shares			Weighted Average Exercise Price CAD$
As at December 31, 2022			377.0			$	23.01
Granted			167.1			21.18
Expired			(14.4)			23.61
Forfeited			(16.5)			25.39
As at December 31, 2023			513.2			$	22.32
Exercised			(100.9)			20.07
Forfeited			(15.9)			22.25
As at December 31, 2024			396.4			$	22.90

Disclosure of range of exercise prices of outstanding share options

The following table summarizes information about the Company's stock options outstanding at December 31, 2024:

			Options Outstanding									Options Exercisable
Range of Exercise Prices CAD$			Number Outstanding as at December 31, 2024			Weighted Average Remaining Contractual Life (years)			Weighted Average Exercise Price CAD$			Number Outstanding as at December 31, 2024			Weighted Average Exercise Price CAD$
$17.53 - $23.03			332.2			4.9			$	21.46		169.6			$	21.11
$23.04 - $28.54			20.4			1.9			$	26.54		20.4			$	26.54
$28.55 - $34.04			36.9			3.9			$	30.70		36.9			$	30.70
$34.05 - $39.48			6.9			2.9			$	39.48		6.9			$	39.48
			396.4			4.6			$	22.90		233.8			$	23.64

Disclosure of assumptions used in determining fair value of options granted

The following assumptions were used in the Black-Scholes option pricing model in determining the fair value of options granted during the years ended December 31:

						2023
Expected life (years)						4.5
Expected volatility						30.1		%
Expected dividend yield						2.7		%
Risk-free interest rate						3.8		%
Weighted average exercise price (CAD$)						$	21.18
Weighted average fair value (CAD$)						$	6.01

Disclosure of dividends

The Company declared the following dividends for the years ended December 31, 2024 and 2023:

Declaration date			Record date			Dividend per common share
February 19, 2025 (1)			March 4, 2025			$	0.10
November 5, 2024			November 18, 2024			$	0.10
August 7, 2024			August 19, 2024			$	0.10
May 8, 2024			May 21, 2024			$	0.10
February 21, 2024			March 4, 2024			$	0.10
November 7, 2023			November 20, 2023			$	0.10
August 9, 2023			August 21, 2023			$	0.10
March 24, 2023			April 14, 2023			$	0.10
February 22, 2023			March 6, 2023			$	0.10

(1)These dividends were declared subsequent to the year end and have not been recognized as distributions to owners during the period presented.

PSUs

Disclosure of terms and conditions of share-based payment arrangement [line items]

Disclosure of number and aggregate fair value of other equity instruments

The following table summarizes changes in PSUs for the years ended December 31, 2024 and 2023:

PSU			Number Outstanding (in thousands)			Fair Value
As at December 31, 2022			288.0			$	4.8
Granted			534.9			8.7
Paid out			(66.0)			—
Change in value			—			(1.0)
As at December 31, 2023			756.9			$	12.5
Granted			220.0			4.9
Paid out			(79.4)			(1.6)
Forfeited			(17.4)			(0.4)
Change in value			—			2.7
As at December 31, 2024			880.1			$	18.1

RSUs

Disclosure of terms and conditions of share-based payment arrangement [line items]

Disclosure of number and aggregate fair value of other equity instruments

The following table summarizes changes in RSUs for the years ended December 31, 2024 and 2023:

RSU			Number Outstanding (in thousands)			Fair Value
As at December 31, 2022			551.8			$	9.1
Granted			516.2			8.4
Paid out			(237.3)			(3.9)
Forfeited			(25.7)			(0.4)
Change in value			—			(0.1)
As at December 31, 2023			805.0			$	13.1
Granted			636.7			14.9
Paid out			(299.5)			(6.1)
Forfeited			(124.5)			(2.5)
Change in value			—			1.5
As at December 31, 2024			1,017.7			$	20.9

DSUs

Disclosure of terms and conditions of share-based payment arrangement [line items]

Disclosure of number and aggregate fair value of other equity instruments

The following table summarizes changes in DSUs for the years ended December 31, 2024 and 2023:

DSU			Number Outstanding (in thousands)			Fair Value
As at December 31, 2022			—			$	—
Granted			109.0			1.7
Change in value			—			0.1
As at December 31, 2023			109.0			$	1.8
Granted			47.5			1.0
Paid out			(25.7)			(0.6)
Change in value			—			0.6
As at December 31, 2024			130.8			$	2.8

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The disclosure of dividends. Dividends are distributions of profits to holders of equity investments in proportion to their holdings of a particular class of capital.

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