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Shareholders' capital (Tables) | 12 Months Ended
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Dec. 31, 2017
Equity [Abstract] |
Number of Common Shares | Number of common shares:
|  | 2017 |  | 2016
Common shares, beginning of year |  | 274,087,018 |  |  | 255,869,419 |
Public offering (i) and subscription receipts (ii) |  | 43,470,000 |  |  | 12,938,457 |
Conversion of convertible debentures (note 14) |  | 108,370,081 |  |  | — |
Dividend reinvestment plan (iii) |  | 3,905,848 |  |  | 2,322,618 |
Exercise of share-based awards (c) |  | 1,932,988 |  |  | 2,956,524 |
Common shares, end of year |  | 431,765,935 |  |  | 274,087,018 |
Schedule of Shares Issued and Outstanding | The Company has the following Series A and Series D preferred shares issued and outstanding as at December 31, 2017 and 2016:
Preferred shares | Number of shares |  | Price per share |  | Carrying amount
Series A | 4,800,000 |  |  | $ | 25 |  |  | $ | 116,546 |
Series D | 4,000,000 |  |  | $ | 25 |  |  | 97,259 |
|  |  |  |  | $ | 213,805 |
Share-Based Compensation Expense | For the year ended December 31, 2017, APUC recorded $10,804 (2016 - $5,675) in total share-based compensation expense detailed as follows:
| 2017 |  | 2016
Share options | $ | 3,990 |  |  | $ | 3,006 |
Directors deferred share units | 771 |  |  | 683 |
Employee share purchase | 568 |  |  | 238 |
Performance share units | 5,475 |  |  | 1,748 |
Total share-based compensation | $ | 10,804 |  |  | $ | 5,675 |
Fair Value of Share Options Granted | The following assumptions were used in determining the fair value of share options granted:
| 2017 |  | 2016
Risk-free interest rate | 1.4 | % |  | 0.9 | %
Expected volatility | 25 | % |  | 23 | %
Expected dividend yield | 4.3 | % |  | 4.5 | %
Expected life | 5.50 years |  |  | 5.50 years |
Weighted average grant date fair value per option | $ | 1.45 |  |  | $ | 1.26 |
Stock Option Activity | Share option activity during the years is as follows:
| Number of awards |  | Weighted average exercise price |  | Weighted average remaining contractual term (years) |  | Aggregate intrinsic value
Balance at January 1, 2016 | 7,164,652 |  |  | $ | 6.92 |  |  | 4.74 |  | $ | 28,561 |
Granted | 2,596,025 |  |  | 10.85 |  |  | 8.00 |  | — |
Exercised | (3,715,663 | ) |  | 5.25 |  |  | 2.06 |  | 20,790 |
Balance at December 31, 2016 | 6,045,014 |  |  | $ | 9.64 |  |  | 6.27 |  | $ | 10,595 |
Granted | 2,328,343 |  |  | 12.82 |  |  | 8.00 |  |  |
Exercised | (1,634,501 | ) |  | 7.81 |  |  | 3.76 |  | 7,696 |
Balance at December 31, 2017 | 6,738,856 |  |  | $ | 11.18 |  |  | 6.32 |  | $ | 19,380 |
Exercisable at December 31, 2017 | 2,448,689 |  |  | $ | 10.03 |  |  | 5.61 |  | $ | 9,473,719 |
Performance Stock Units | A summary of the PSUs follows:
| Number of awards |  | Weighted average grant-date fair value |  | Weighted average remaining contractual term (years) |  | Aggregate intrinsic value
Balance at January 1, 2016 | 564,116 |  |  | $ | 7.59 |  |  | 1.63 |  |  | $ | 6,155 |
Granted, including dividends | 219,315 |  |  | 11.62 |  |  | 2.00 |  |  | — |
Exercised | (181,875 | ) |  | 8.29 |  |  | — |  |  | 2,115 |
Forfeited | (22,568 | ) |  | 9.64 |  |  | — |  |  | — |
Balance at December 31, 2016 | 578,988 |  |  | $ | 9.82 |  |  | 1.74 |  |  | $ | 6,595 |
Granted, including dividends | 811,974 |  |  | 13.54 |  |  | 2.00 |  |  | — |
Exercised | (374,973 | ) |  | 8.33 |  |  | — |  |  | 4,394 |
Forfeited | (60,961 | ) |  | 12.61 |  |  | — |  |  | — |
Balance at December 31, 2017 | 955,028 |  |  | $ | 12.30 |  |  | 1.84 |  |  | $ | 13,428 |
Exercisable at December 31, 2017 | 172,031 |  |  | $ | 9.75 |  |  | — |  |  | $ | 2,423 |

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