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Shareholders' capital (Tables)
 12 Months Ended
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