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Share-Based Compensation (Tables) | 3 Months Ended | 12 Months Ended
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Mar. 31, 2022 | Dec. 31, 2021
Disclosure of terms and conditions of share-based payment arrangement [line items] |  |
Summary of Share-based Compensation Expenses | The share-based compensation expense included in the determination of net earnings was:
Three months ended March 31, |  | 2022 |  |  | 2021 |
Equity settled share-based payments |  | $ | 457 |  |  | $ | 440 |
Cash settled share-based payments |  |  | 3,592 |  |  |  | 4,827 |
Share-based compensation expense |  | $ | 4,049 |  |  | $ | 5,267 |
| The share-based compensation expense includ e d in the determination of net earnings was:
Years ended December 31, |  | 2021 |  |  | 2020 |  |  | 2019 |
Equity settled share-based payments |  | $ | 1,783 |  |  | $ | 1,725 |  |  | $ | 2,735 |
Deferred share units |  |  | 3,053 |  |  |  | (1,830 | ) |  |  | (720 | )
Phantom share entitlement plan |  |  | 102 |  |  |  | (54 | ) |  |  | (449 | )
Performance share units |  |  | 3,470 |  |  |  | 667 |  |  |  | 2,754 |
Restricted share units |  |  | 2,751 |  |  |  | 755 |  |  |  | 2,199 |
Cash performance target |  |  | 1,778 |  |  |  | 553 |  |  |  | 1,230 |
Share-based compensation expense |  | $ | 12,937 |  |  | $ | 1,816 |  |  | $ | 7,749 |
Summary of Equity-Settled Share-Based Payments |
(b) | Equity-Settled Share-Based Payments
|  | March 31, 2022 |  |  | December 31, 2021 |
|  | Number of options |  |  | Weighted average exercise price |  |  | Number of options |  |  | Weighted average exercise price |
Options outstanding, beginning of period |  |  | 4,456,444 |  |  | $ | 11.66 |  |  |  | 4,057,142 |  |  | $ | 12.78 |
Granted |  |  | — |  |  |  | — |  |  |  | 654,847 |  |  |  | 7.85 |
Exercised 1 |  |  | (2,120 | ) |  |  | 5.51 |  |  |  | — |  |  |  | — |
Forfeited |  |  | (27,286 | ) |  |  | 13.51 |  |  |  | (24,267 | ) |  |  | 9.25 |
Expired |  |  | — |  |  |  | — |  |  |  | (231,278 | ) |  |  | 20.75 |
Options outstanding, end of period |  |  | 4,427,038 |  |  | $ | 11.65 |  |  |  | 4,456,444 |  |  | $ | 11.66 |
Options exercisable, end of period |  |  | 2,415,824 |  |  | $ | 13.63 |  |  |  | 2,445,230 |  |  | $ | 13.62 |
|  | 2021 |  |  | 2020 |
Years ended December 31, |  | Number of options |  |  | Weighted average exercise price |  |  | Number of options |  |  | Weighted average exercise price |
Options outstanding, beginning of period |  |  | 4,057,142 |  |  | $ | 12.78 |  |  |  | 3,565,521 |  |  | $ | 14.67 |
Granted |  |  | 654,847 |  |  |  | 7.85 |  |  |  | 839,478 |  |  |  | 5.51 |
Forfeited |  |  | (24,267 | ) |  |  | 9.25 |  |  |  | (121,547 | ) |  |  | 15.20 |
Expired |  |  | (231,278 | ) |  |  | 20.75 |  |  |  | (226,310 | ) |  |  | 14.33 |
Options outstanding, end of period |  |  | 4,456,444 |  |  | $ | 11.66 |  |  |  | 4,057,142 |  |  | $ | 12.78 |
Options exercisable, end of period |  |  | 2,445,230 |  |  | $ | 13.62 |  |  |  | 1,810,577 |  |  | $ | 14.73 |
1 | No options were exercised for the years ended December 31, 2021 and 2020.
Summary of Weighted Average Assumptions Used in Determination of Fair Values |  | The weighted average assumptions used in determinations of fair values are noted below:
Years ended December 31, |  | 2021 |  |  | 2020 |
Expected life (years) |  |  | 5.26 |  |  |  | 5.34 |
Expected volatility 1 |  |  | 44.4 | % |  |  | 43.6 | %
Dividend yield |  |  | 1.0 | % |  |  | 1.4 | %
Risk-free rate |  |  | 1.1 | % |  |  | 0.5 | %
Estimated forfeiture rate |  |  | 3.9 | % |  |  | 3.6 | %
| 1 | Expected volatility is based on the historical volatility of Enerflex over a five-year period, consistent with the expected life of the option.
Summary of Options Outstanding and Exercisable | The following table summarizes options outstanding and exercisable at March 31, 2022:
|  | Options Outstanding |  |  | Options Exercisable |
Range of exercise prices |  | Number outstanding |  |  | Weighted average remaining life (years) |  |  | Weighted average exercise price |  |  | Number outstanding |  |  | Weighted average remaining life (years) |  |  | Weighted average exercise price |
$5.51 – $9.77 |  |  | 1,475,830 |  |  |  | 5.81 |  |  | $ | 6.54 |  |  |  | 165,775 |  |  |  | 5.37 |  |  | $ | 5.51 |
$9.78 – $14.75 |  |  | 1,657,799 |  |  |  | 2.37 |  |  |  | 12.85 |  |  |  | 1,174,530 |  |  |  | 1.55 |  |  |  | 12.65 |
$14.76 – $16.12 |  |  | 1,293,409 |  |  |  | 1.61 |  |  |  | 15.95 |  |  |  | 1,075,519 |  |  |  | 1.30 |  |  |  | 15.94 |
Total |  |  | 4,427,038 |  |  |  | 3.30 |  |  | $ | 11.65 |  |  |  | 2,415,824 |  |  |  | 1.70 |  |  | $ | 13.63 |
|  | Options Outstanding |  |  | Options Exercisable |
Range of exercise prices |  | Number outstanding |  |  | Weighted average remaining life (years) |  |  | Weighted average exercise price |  |  | Number outstanding |  |  | Weighted average remaining life (years) |  |  | Weighted average exercise price |
$5.51 – $9.77 |  |  | 1,477,950 |  |  |  | 6.06 |  |  | $ | 6.53 |  |  |  | 167,895 |  |  |  | 5.62 |  |  | $ | 5.51 |
$9.78 – $14.75 |  |  | 1,677,399 |  |  |  | 2.61 |  |  |  | 12.85 |  |  |  | 1,194,130 |  |  |  | 1.79 |  |  |  | 12.65 |
$14.76 – $16.12 |  |  | 1,301,095 |  |  |  | 1.86 |  |  |  | 15.95 |  |  |  | 1,083,205 |  |  |  | 1.56 |  |  |  | 15.94 |
Total |  |  | 4,456,444 |  |  |  | 3.53 |  |  | $ | 11.66 |  |  |  | 2,445,230 |  |  |  | 1.95 |  |  | $ | 13.62 |
Deferred share units [member] |  |
Disclosure of terms and conditions of share-based payment arrangement [line items] |  |
Summary of Share Units |
|  | Number of DSUs |  |  | Weighted average grant date fair value per unit |
DSUs outstanding, January 1, 2022 |  |  | 1,406,170 |  |  | $ | 10.51 |
Granted |  |  | 76,751 |  |  |  | 8.14 |
In lieu of dividends |  |  | 4,269 |  |  |  | 7.81 |
DSUs outstanding, March 31, 2022 |  |  | 1,487,190 |  |  | $ | 10.38 |
|  | Number of DSUs |  |  | Weighted average grant date fair value per unit |
DSUs outstanding, January 1, 2021 |  |  | 1,147,182 |  |  | $ | 11.01 |
Granted |  |  | 247,317 |  |  |  | 8.33 |
In lieu of dividends |  |  | 11,671 |  |  |  | 8.15 |
DSUs outstanding, December 31, 2021 |  |  | 1,406,170 |  |  | $ | 10.51 |
Phantom Share Entitlement Plan [member] |  |
Disclosure of terms and conditions of share-based payment arrangement [line items] |  |
Summary of Share Units |  |
|  | Number of PSEs |  |  | Weighted average grant date fair value per unit |
PSEs outstanding, January 1, 2021 |  |  | 198,205 |  |  | $ | 12.69 |
Granted |  |  | 24,715 |  |  |  | 7.85 |
PSEs outstanding, December 31, 2021 |  |  | 222,920 |  |  | $ | 12.15 |
Performance share units [member] |  |
Disclosure of terms and conditions of share-based payment arrangement [line items] |  |
Summary of Share Units |  |
|  | Number of PSUs |  |  | Weighted average grant date fair value per unit |
PSUs outstanding, January 1, 2021 |  |  | 982,835 |  |  | $ | 9.35 |
Granted |  |  | 419,195 |  |  |  | 7.85 |
In lieu of dividends |  |  | 10,423 |  |  |  | 8.18 |
Vested |  |  | (104,037 | ) |  |  | 7.36 |
PSUs outstanding, December 31, 2021 |  |  | 1,308,416 |  |  | $ | 9.02 |
Restricted share units [member] |  |
Disclosure of terms and conditions of share-based payment arrangement [line items] |  |
Summary of Share Units |  |
|  | Number of RSUs |  |  | Weighted average grant date fair value per unit |
RSUs outstanding, January 1, 2021 |  |  | 782,517 |  |  | $ | 7.52 |
Granted |  |  | 472,819 |  |  |  | 7.85 |
In lieu of dividends |  |  | 8,021 |  |  |  | 8.15 |
Vested |  |  | (292,205 | ) |  |  | 7.79 |
Forfeited |  |  | (74,678 | ) |  |  | 7.37 |
RSUs outstanding, December 31, 2021 |  |  | 896,474 |  |  | $ | 7.62 |

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