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Capital Stock and Reserves (Tables) | 9 Months Ended
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Sep. 30, 2021
Equity [Abstract] |
Stock Compensation |
| Three Months Ended |  |  | Nine Months Ended |
| September 30, |  |  | September 30, |
(In Thousands of U.S. Dollars) | 2021 |  |  | 2020 |  |  | 2021 |  |  | 2020 |
Cost and expenses applicable to revenues | $ |  | 314 |  |  | $ |  | 130 |  |  | $ |  | 920 |  |  | $ |  | 530 |
Selling, general and administrative expenses |  |  | 5,706 |  |  |  |  | 5,151 |  |  |  |  | 17,046 |  |  |  |  | 15,325 |
Research and development |  |  | 89 |  |  |  |  | 29 |  |  |  |  | 245 |  |  |  |  | 114 |
| $ |  | 6,109 |  |  | $ |  | 5,310 |  |  | $ |  | 18,211 |  |  | $ |  | 15,969 |
Stock-based Compensation by Plan Type | The following table summarizes the Company’s share-based compensation expense by each award type:
| Three Months Ended |  |  | Nine Months Ended |
| September 30, |  |  | September 30, |
(In Thousands of U.S. Dollars) | 2021 |  |  | 2020 |  |  | 2021 |  |  | 2020 |
Stock Options | $ |  | 253 |  |  | $ |  | 433 |  |  | $ |  | 808 |  |  | $ |  | 1,449 |
Restricted Share Units |  |  | 3,900 |  |  |  |  | 3,430 |  |  |  |  | 11,524 |  |  |  |  | 10,866 |
Performance Stock Units |  |  | 1,183 |  |  |  |  | 483 |  |  |  |  | 3,169 |  |  |  |  | 1,229 |
IMAX China Stock Options |  |  | 41 |  |  |  |  | 600 |  |  |  |  | 143 |  |  |  |  | 701 |
IMAX China Long Term Incentive Plan Restricted Share Units |  |  | 600 |  |  |  |  | 332 |  |  |  |  | 2,217 |  |  |  |  | 1,645 |
IMAX China Long Term Incentive Plan Performance Stock Units |  |  | 132 |  |  |  |  | 32 |  |  |  |  | 350 |  |  |  |  | 79 |
| $ |  | 6,109 |  |  | $ |  | 5,310 |  |  | $ |  | 18,211 |  |  | $ |  | 15,969 |
Schedule of Share-based Compensation, Stock Options, Activity | The following table summarizes the activity under the Company’s Stock Option Plan (“SOP”) and the IMAX Corporation Second Amended and Restated Long-Term Incentive Plan (as may be amended, “IMAX LTIP”) for the nine months ended September 30, 2021 and 2020:
|  | Number of Shares |  |  |  | Weighted Average Exercise Price Per Share |
|  | 2021 |  |  | 2020 |  |  | 2021 |  |  | 2020 |
Stock options outstanding, beginning of period |  |  | 4,892,962 |  |  |  | 5,732,209 |  |  | $ |  | 26.81 |  |  | $ |  | 26.82 |
Granted |  |  | — |  |  |  | — |  |  |  |  | — |  |  |  |  | — |
Exercised |  |  | (41,613 | ) |  |  | — |  |  |  |  | 21.23 |  |  |  |  | — |
Forfeited |  |  | (86,587 | ) |  |  | (23,633 | ) |  |  |  | 22.51 |  |  |  |  | 22.35 |
Expired |  |  | (903,038 | ) |  |  | (772,665 | ) |  |  |  | 28.31 |  |  |  |  | 27.03 |
Cancelled |  |  | (123,220 | ) |  |  | (18,483 | ) |  |  |  | 26.68 |  |  |  |  | 27.97 |
Stock options outstanding, end of period |  |  | 3,738,504 |  |  |  | 4,917,428 |  |  |  |  | 26.61 |  |  |  |  | 26.80 |
Stock options exercisable, end of period |  |  | 3,487,857 |  |  |  | 4,315,484 |  |  |  |  | 26.93 |  |  |  |  | 27.32 |
Restricted Stock Units Activity under the IMAX LTIP | The following table summarizes the activity in respect of RSUs issued under the IMAX LTIP for the nine months ended September 30, 2021 and 2020:
|  | Number of Awards |  |  | Weighted Average Grant Date Fair Value Per Share |
|  | 2021 |  |  | 2020 |  |  |  | 2021 |  |  |  | 2020 |
RSUs outstanding, beginning of period |  |  | 1,564,838 |  |  |  | 1,065,347 |  |  | $ |  | 18.33 |  |  | $ |  | 23.17 |
Granted |  |  | 831,123 |  |  |  | 1,050,385 |  |  |  |  | 21.03 |  |  |  |  | 15.35 |
Vested and settled |  |  | (571,616 | ) |  |  | (386,451 | ) |  |  |  | 19.11 |  |  |  |  | 21.59 |
Forfeited |  |  | (231,380 | ) |  |  | (54,933 | ) |  |  |  | 19.50 |  |  |  |  | 19.70 |
RSUs outstanding, end of period |  |  | 1,592,965 |  |  |  | 1,674,348 |  |  |  |  | 19.29 |  |  |  |  | 18.75 |
Performance Stock Units Activity under the IMAX LTIP | The following table summarizes the activity in respect of PSUs issued under the IMAX LTIP for the nine months ended September 30, 2021 and 2020:
|  | Number of Awards |  |  | Weighted Average Grant Date Fair Value Per Share |
|  | 2021 |  |  | 2020 |  |  |  | 2021 |  |  |  | 2020 |
PSUs outstanding, beginning of period |  |  | 361,844 |  |  |  | — |  |  | $ |  | 15.68 |  |  | $ |  | — |
Granted |  |  | 309,574 |  |  |  | 370,265 |  |  |  |  | 20.77 |  |  |  |  | 15.66 |
Forfeited |  |  | (54,634 | ) |  |  | (2,526 | ) |  |  |  | 16.08 |  |  |  |  | 14.84 |
PSUs outstanding, end of period |  |  | 616,784 |  |  |  | 367,739 |  |  |  |  | 18.20 |  |  |  |  | 15.67 |
As of September 30, 2021, the maximum number of shares of common stock that may be issued with respect to PSUs outstanding is 1,079,372, assuming full achievement of the EBITDA and TSR targets.
Basic and Diluted Per-share Computations | The following table reconciles the denominator of the basic and diluted weighted average share computations:
| Three Months Ended |  |  | Nine Months Ended |
| September 30, |  |  | September 30, |
| 2021 |  |  | 2020 |  |  | 2021 |  |  | 2020 |
(In thousands) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Issued and outstanding, beginning of period |  |  | 59,396 |  |  |  |  | 58,857 |  |  |  |  | 58,921 |  |  |  |  | 61,176 |
Weighted average number of shares (repurchased) issued, net |  |  | (152 | ) |  |  |  | 2 |  |  |  |  | 286 |  |  |  |  | (1,816 | )
Weighted average number of shares outstanding - basic |  |  | 59,244 |  |  |  |  | 58,859 |  |  |  |  | 59,207 |  |  |  |  | 59,360 |
Weighted average effect of potential common shares, if dilutive |  |  | — |  |  |  |  | — |  |  |  |  | — |  |  |  |  | — |
Weighted average number of shares outstanding - diluted |  |  | 59,244 |  |  |  |  | 58,859 |  |  |  |  | 59,207 |  |  |  |  | 59,360 |

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