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Shareholders' equity (Tables)

12 Months Ended

Dec. 31, 2014

Shareholders' equity.

Summary of Stock Option Activity under Plan

Shares

Weighted- Average Exercise Price

Weighted- Average Remaining Contractual Life (in years)

Aggregate Intrinsic Value (1) (in thousands)

Options outstanding at December 31, 2011

—

$

—

—

$

—

Granted

700,000

15.00

Exercised

—

—

Forfeited

—

—

​

​

​

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​

​

​

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​

Options outstanding at December 31, 2012

700,000

$

15.00

9.9

$

—

(2)

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Granted

550,000

16.03

Exercised

—

—

Forfeited

(60,000

)

15.00

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Options outstanding at December 31, 2013

1,190,000

$

15.48

9.3

$

862

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Granted

1,270,000

16.74

Exercised

(28,750

)

15.00

74

Forfeited

(266,250

)

15.88

​

​

​

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​

​

​

​

​

​

Options outstanding at December 31, 2014

2,165,000

$

16.17

8.8

$

1,890

​

​

​

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​

​

​

​

​

Options exercisable at December 31, 2014

375,000

$

15.31

8.2

$

645

​

​

​

​

​

​

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(1)

Intrinsic value for activities other than exercises is defined as the difference between the grant price and the market value on the last trading day of 2014 of $17.03 for those stock options where the market value is greater than the exercise price. For exercises, intrinsic value is defined as the difference between the grant price and the market value on the date of exercise.

(2)

Prior to August 1, 2013, there was no public trading market for our Class A common shares.

Summary of Black-Scholes Option Pricing Model Inputs used for Valuation of Stock Options Outstanding

		2014			2013			2012
Weighted-average fair value		$	5.06		$	4.75		$	4.52
Expected term (years)			7.0			7.0			7.0
Dividend yield			3.0	%		3.0	%		3.0	%
Volatility			38.5	%		38.0	%		38.0	%
Risk-free interest rate			2.2	%		2.0	%		2.5	%

Summary of restricted stock units activity under Plan

		2014			2013			2012
Restricted stock units at beginning of period			—			—			—
Units awarded			92,000			—			—
Units released			—			—			—
Units forfeited			(7,000	)		—			—
​	​	​	​	​	​	​	​	​	​	​
Restricted stock units at end of the period			85,000			—			—
​	​	​	​	​	​	​	​	​	​	​
​	​	​	​	​	​	​	​	​	​	​

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Tabular disclosure of the number and weighted-average grant date fair value for restricted stock units that were outstanding at the beginning and end of the year, and the number of restricted stock units that were granted, vested, or forfeited during the year.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 718

-SubTopic 10

-Section 50

-Paragraph 2

-Subparagraph (c)(1)

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Tabular disclosure of the number and weighted-average exercise prices (or conversion ratios) for share options (or share units) that were outstanding at the beginning and end of the year, vested and expected to vest, exercisable or convertible at the end of the year, and the number of share options or share units that were granted, exercised or converted, forfeited, and expired during the year.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 718

-SubTopic 10

-Section 50

-Paragraph 2

-Subparagraph (c)(1)

-URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901

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+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 718

-SubTopic 10

-Section 50

-Paragraph 2

-Subparagraph (f)(2)

-URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901

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