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Related-Party Disclosures | 12 Months Ended
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Dec. 31, 2024
Related Party [Abstract] |
Related-Party Disclosures | Related-Party Disclosures At December 31, 2024, the Company had subsidiaries and structured entities that it controlled and included in its consolidated financial statements. The Company also enters into related-party transactions through a number of joint ventures, associates, and joint operations. These transactions involve providing or receiving services entered into in the normal course of business. The following lists the most significant entities where the Company owns 100% of the voting and restricted securities.
Name | Jurisdiction of Incorporation
Cardno Consulting, LLC | Delaware, United States
International Insurance Group Inc. | Barbados
Mustang Acquisition Holdings Inc. | Delaware, United States
Stantec Australia Holdings No.1 Pty Ltd | Australia
Stantec Australia Pty Ltd | Australia
Stantec Consulting Caribbean Ltd. | Barbados
Stantec Consulting International LLC | Arizona, United States
Stantec Consulting International Ltd. | Canada
Stantec Consulting Ltd./Stantec Experts-conseils ltée | Canada
Stantec Consulting Michigan Inc. | Michigan, United States
Stantec Consulting Services Inc. | New York, United States
Stantec Delaware V LLC | Delaware, United States
Stantec Delaware VI LLC | Delaware, United States
Stantec Global Capital Limited | United Kingdom
Stantec Holdings GP ULC | Canada
Stantec Holdings LP | Canada
Stantec Holdings ULC | Canada
Stantec International Consulting, Inc. | Delaware, United States
Stantec New Zealand | New Zealand
Stantec Technology International Inc. | Delaware, United States
Stantec US Insurance Group, Inc. | Arizona, United States
Stantec UK Limited | United Kingdom
There are no significant restrictions on the Company’s ability to access or use assets or to settle liabilities of its subsidiaries. Financial statements of all subsidiaries are prepared as at the same reporting date as the Company’s. Structured entities At December 31, 2024, the Company had management agreements in place with several entities to provide various services, including architecture, engineering, planning, and project management. These entities have been designed so that voting rights are not the dominant factor in deciding who controls the entity. Each entity has a management agreement in place that provides the Company with control over the relevant activities of the entity where it has been assessed that the Company is exposed to variable returns of the entity and can use its power to influence the variable returns. The Company receives a management fee generally equal to the net income of the entities and has an obligation regarding the liabilities and losses of the entities. Based on these facts and circumstances, management determined that the Company controls these entities and they are consolidated in the Company’s consolidated financial statements. The following lists the most significant structured entities that are consolidated in the Company’s financial statements.
Name | Jurisdiction of Incorporation
Stantec Architecture Inc. | North Carolina, United States
Stantec Architecture Ltd. | Canada
Stantec Geomatics Ltd. | Canada
Stantec International Inc. | Pennsylvania, United States
Joint operations The Company also conducted its business through the following significant joint operations.
Name | Ownership Interests | Jurisdiction
Starr ll, a Joint Venture | 37.5% | United States
WSM Pacific SIOP, a Joint Venture | 32% | United States
Better Together, a Joint Venture | 10% | Australia
Joint ventures The Company enters into transactions through its investments in joint ventures. The following table provides the total dollar amount for transactions that have been entered into with related parties.
| For the year ended December 31, 2024 | For the year ended December 31, 2023
| Sales to Related Parties $ | Distributions Paid $ | Amounts Owed by Related Parties $ | Sales to Related Parties $ | Distributions Paid $ | Amounts Owed by Related Parties $
Joint ventures | 143.0 |  | 0.9 |  | 24.5 |  | 96.3 |  | 0.8 |  | 16.7 |
Compensation of key management personnel and directors of the Company
| For the year ended December 31,
| 2024 | 2023
| $ | $
Salaries and other short-term employment benefits | 18.0 |  | 15.5 |
Directors’ fees | 1.2 |  | 0.7 |
Share-based compensation | 20.1 |  | 36.8 |
Total compensation | 39.3 |  | 53.0 |
The Company’s key management personnel for 2024 and 2023 include its Chief Executive Officer (CEO), Chief Operating Officers, Chief Financial Officer, Chief Practice and Project Officer, Chief Growth & Innovation Officer, and Executive Vice Presidents. The amounts disclosed in the table are the amounts recognized as an expense related to key management personnel and directors during the year. Share-based compensation includes the fair value adjustment for the year.

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