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Share-based payment arrangements (Tables)
12 Months Ended
Dec. 31, 2019
Disclosure of terms and conditions of share-based payment arrangement [abstract]  
Share-based Payments Expense
Share-based payments expense consists of:
 
December 31, 2019

 
December 31, 2018

 
 
 
 
Share options
$
3,128

 
$
3,392

Restricted share units with no performance criteria
1,600

 
1,425

Restricted share units with performance criteria
1,195

 
175

Deferred units
2,209

 
(277
)
Performance share units
2,264

 
2,274

 
$
10,396

 
$
6,989

Summary of Movements in Number of Share Options Outstanding and Weighted Average Exercise Prices
Movements in the number of share options outstanding and their related weighted average exercise prices are as follows:
 
2019
2018
 
Weighted
average exercise price
Cdn$

Number of
options

Weighted
average exercise price
Cdn$

Number of
options

At January 1,
$22.56
5,591,228

$30.18
5,944,510

Granted
5.98

2,387,256

6.20

1,078,797

Exercised
6.20

(56,644
)


Expired
38.96

(697,322
)
51.46

(870,904
)
Forfeited
21.48

(1,510,027
)
26.99

(561,175
)
At December 31,
$14.08
5,714,491

$22.56
5,591,228

Summary of Range of Exercise Prices of Outstanding Share Options
Options outstanding are as follows:
 
 
December 31, 2019
 
December 31, 2019
 
 
Total options outstanding
 
Exercisable options
Range of 
exercise 
price 
Cdn$
 
Shares

 
Weighted
average
remaining
contractual
life
(years)

 
Weighted
average
exercise
price
Cdn$

 
Shares

 
Weighted 
average 
exercise 
price 
Cdn$

 
 
 
 
 
 
 
 
 
 
 
$5.00 to $5.99
 
2,097,795

 
4.2

 
$5.68
 

 

$6.00 to $6.99
 
818,003

 
3.3

 
6.20

 
250,703

 
6.20

$10.00 to $10.99
 
152,941

 
4.9

 
10.40

 

 

$16.00 to $16.99
 
986,984

 
1.1

 
16.10

 
986,984

 
16.10

$21.00 to $21.99
 
20,000

 
1.8

 
21.15

 
13,333

 
21.15

$22.00 to $22.99
 
668,396

 
2.1

 
22.00

 
499,293

 
22.00

$23.00 to $23.99
 
151,933

 
2.2

 
23.18

 
101,287

 
23.18

$29.00 to $29.99
 
2,449

 
1.4

 
29.55

 
2,449

 
29.55

$33.00 to $33.99
 
795,990

 
0.1

 
33.35

 
795,990

 
33.35

$35.00 to $35.99
 
20,000

 

 
35.40

 
20,000

 
35.40


 

 

 

 

 

 
 
5,714,491

 
2.6

 
$14.08
 
2,670,039

 
$21.87
Summary of Assumptions Used to Estimate the Fair Value of Options Granted
The assumptions used to estimate the fair value of options granted during the years ended December 31, 2019 and 2018 were:
 
2019

 
2018

Risk-free interest rate (range) (%)
1.34 – 1.80

 
1.80 – 2.20

Expected volatility (range) (%)
59 – 63

 
58 – 64

Expected life (range) (years)
1.98 – 3.98

 
1.79 – 3.79

Expected dividends (Cdn$)

 

Summary of Status and Movements in RSUs and PSUs
A summary of the status of the RSUs with no performance criteria and changes during the year ended December 31, 2019 is as follows:

2019

 
2018

At January 1,
333,119

 
341,198

Granted
391,092

 
214,859

Redeemed
(137,594
)
 
(181,491
)
Forfeited
(50,287
)
 
(41,447
)
At December 31,
536,330

 
333,119

A summary of the status of the RSUs with performance criteria and changes during the year ended December 31, 2019 is as follows:
 
2019

 
2018

At January 1,
152,927

 

Granted
412,473

 
167,976

Forfeited
(107,902
)
 
(15,049
)
At December 31,
457,498

 
152,927

Movements in the PSUs during the year ended December 31, 2019 are as follows:
 
2019

 
2018

At January 1,
484,899

 
381,293

Granted
264,083

 
261,522

Expired
(129,109
)
 
(118,605
)
Forfeited
(8,988
)
 
(39,311
)
At December 31,
610,885

 
484,899