Recent Accounting Pronouncements and Changes to Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2018

Summary of Impacts of Adopting IFRS 15 in Consolidated Statement of Financial Position

The following tables summarize the impacts of adopting IFRS 15 in the Company’s consolidated financial statements as of December 31, 2018.

Consolidated statement of financial position

December 31, 2018

As Reported

Before IFRS 15

Increase (Decrease)

Current assets

Unbilled receivables

384.6

444.4

(59.8

)

Contract assets

59.7

Other assets

23.2

20.3

2.9

Non-current assets

Deferred tax assets

21.2

21.8

(0.6

)

Other assets

175.5

167.3

8.2

Current liabilities

Deferred revenue

174.4

165.7

8.7

Shareholders’ equity

Retained earnings

851.2

848.9

2.3

Accumulated other comprehensive income

163.1

163.7

(0.6

)

Summary of Impacts of Adopting IFRS 15 in Consolidated Statements of Income and Comprehensive Income (Loss)

Consolidated statements of income and comprehensive income (loss)

For the year ended December 31, 2018

As Reported

Before IFRS 15

Increase (Decrease)

Net income

Gross revenue

4,283.8

4,287.9

(4.1

)

Subconsultant/subcontractor and other direct expenses

928.6

937.1

(8.5

)

Total income taxes

55.0

53.8

1.2

Net income for the year from continuing operations

171.3

168.1

3.2

Net loss from discontinued operation, net of tax

(123.9

)

(146.9

)

23.0

Net income for the year

47.4

21.2

26.2

Comprehensive income

Exchange differences on translation of foreign operations

124.1

124.7

(0.6

)

Other comprehensive income for the year, net of tax

114.5

115.1

(0.6

)

Total comprehensive income for the year, net of tax

161.9

136.3

25.6

Earnings per share, basic and diluted

Continuing operations

1.51

1.48

0.03

Discontinued operations

(1.09

)

(1.29

)

0.20

Total basic and diluted earnings per share

0.42

0.19

0.23

Summary of Measurement Category of Financial Assets

On the date of initial application, financial assets of the Company were as follows, with any reclassifications noted:



	Measurement Category

	2018		2017

Current financial assets
Cash and cash deposits and cash in escrow		Amortized cost		FVPL
Receivables and other current financial assets		Amortized cost		Amortized cost
Non-current financial assets
Investments held for self-insured liabilities (equity securities)		Mandatorily at FVPL		FVOCI
Investments held for self-insured liabilities (bonds)		FVOCI		FVOCI
Holdbacks on long-term contracts		Amortized cost		Amortized cost
Indemnifications		FVPL		FVPL
Other financial assets		Amortized cost		Amortized cost

Increase (decrease) due to application of IFRS 15 [member]

Statement [LineItems]

Summary of Impact of Changes to Accounting Policies on After-tax

On the adoption of IFRS 15, the after-tax impact on retained earnings is as follows:



	Retained Earnings $

Change orders and claims		(3.0	)
Significant financing component		1.7
Construction services - discontinued operations		(22.6	)

Total impact of change in accounting policy, January 1, 2018		(23.9	)

Increase (decrease) due to application of IFRS 9 [member]

Statement [LineItems]

Summary of Impact of Changes to Accounting Policies on After-tax

On the adoption of IFRS 9, the impact on equity (after-tax) is as follows:



	Retained Earnings $			Accumulated Other Comprehensive Loss $

Reclassify equity securities from available-for-sale (AFS) to FVPL		0.9			(0.9	)
Other		(0.8	)		-

Total impact of changes in accounting policy, January 1, 2018		0.1			(0.9	)