XML 180 R162.htm IDEA: XBRL DOCUMENT v3.22.2.2
Restatement of the Consolidated Statements of Cash Flows - Summary of Restatement of the Consolidated Statements of Cash Flows (Detail) - CAD ($)
$ in Thousands
3 Months Ended 6 Months Ended 12 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Jun. 30, 2022
Jun. 30, 2021
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Operating Activities              
Net earnings (loss) $ 13,352 $ 4,291 $ 12,983 $ 7,294 $ (18,455) $ 88,257 $ 152,128
Items not requiring cash and cash equivalents:              
Depreciation and amortization 22,058 21,389 43,948 42,461 87,622 85,265 86,559
Equity (earnings) loss from associates and joint ventures (562) (187) (846) 225 (671) (1,995) (1,692)
Deferred income taxes (Note 11) (1,920) 1,361 (1,662) (3,159) 43,422 14,174 31,476
Share-based compensation expense (Note 13) (2,667) 3,158 1,382 8,425 12,937 1,816 7,749
Gain on sale of property, plant and equipment (Note 4) (79) (63) (79) (38) (135) (45) (302)
Impairment on rental equipment (Note 4) 349 485 349 485 537 2,607 26,414
Adjustments to reconcile profit (loss) other than changes in working capital 30,531 30,434 56,075 55,693 125,257 190,079 302,332
Net change in working capital and other (Note 16) (9,434) (16,044) (57,690) 17,274 82,937 57,230 (235,411)
Cash provided by (used in) operating activities 21,097 14,390 (1,615) 72,967 208,194 247,309 66,921
Additions to:              
Property, plant and equipment (2,092) (1,426) (2,991) (2,745) (5,154) (9,874) (46,322)
Rental equipment (Note 4) (12,155) (14,641) (14,695) (25,970) (52,187) (123,879) (217,068)
Proceeds on disposal of:              
Property, plant and equipment 87 77 87 77 220 115 9,205
Rental equipment (Note 4) 2,693 149 2,693 1,018 4,670 4,592 6,442
Change in other assets   0   0      
Investment in associates and joint ventures (467) 0 (467) 0 (130) (1,939) (3,630)
Net change in accounts payable related to the addition of property, plant and equipment, and rental equipment 12,091 16,032 (1,355) 15,241 3,720 (39,512) 1,542
Cash used in investing activities 157 191 (16,728) (12,379) (48,861) (170,497) (249,831)
Financing Activities              
Repayment of long-term debt (Note 9)   0   0      
Net repayment of the Bank Facility   (22,106)   (46,865) (53,891) (40,081) (812)
Net proceeds from the Asset-Based Facility (Note 9)   43,714   43,714 36,916    
Repayment of the Notes (Note 9) 0 (40,000) 0 (40,000) (40,000) 0 0
Lease liability principal repayment (Note 10) (3,818) (3,151) (7,331) (6,487) (14,215) (12,770) (12,551)
Lease interest (Note 10)   0   0      
Dividends paid (2,242) (1,794) (4,484) (3,587) (7,171) (24,212) (37,548)
Stock option exercises (Note 13) 0 0 12 0     7,453
Debt refinancing and transaction costs (2,437) (892) (6,592) (1,047) (2,095) (258) (780)
Cash used in financing activities (9,963) (24,229) (8,578) (54,272) (80,456) (77,321) (44,238)
Effect of exchange rate changes on cash and cash equivalents denominated in foreign currencies 2,573 (2,022) 1,241 (3,020) (1,795) (70) (3,461)
Increase (decrease) in cash and cash equivalents 13,864 (11,670) (25,680) 3,296 77,082 (579) (230,609)
Cash and cash equivalents, beginning of period 133,214 110,642 172,758 95,676 95,676 96,255 326,864
Cash and cash equivalents, end of period $ 147,078 98,972 147,078 98,972 172,758 95,676 96,255
As previously reported              
Operating Activities              
Net earnings (loss)   4,291   7,294 (18,455) 88,257 152,128
Items not requiring cash and cash equivalents:              
Depreciation and amortization   21,389   42,461 87,622 85,265 86,559
Equity (earnings) loss from associates and joint ventures   (187)   225 (671) (1,995) (1,692)
Deferred income taxes (Note 11)   1,361   (3,159) 43,422 14,174 31,476
Share-based compensation expense (Note 13)   3,158   8,425 12,937 1,816 7,749
Gain on sale of property, plant and equipment (Note 4)   (63)   (38) (135) (45) (302)
Impairment on rental equipment (Note 4)   0   0      
Adjustments to reconcile profit (loss) other than changes in working capital   29,949   55,208 124,720 187,472 275,918
Net change in working capital and other (Note 16)   (403)   34,289 100,435 32,776 (221,749)
Cash provided by (used in) operating activities   29,546   89,497 225,155 220,248 54,169
Additions to:              
Property, plant and equipment   (1,426)   (2,745) (5,154) (9,874) (46,322)
Rental equipment (Note 4)   (14,641)   (25,970) (52,187) (123,879) (217,068)
Proceeds on disposal of:              
Property, plant and equipment   77   77 220 115 9,205
Rental equipment (Note 4)   59   587 3,692 3,121 4,454
Change in other assets   3,895   5,336 (10,101) (7,242) 26,911
Net change in accounts payable related to the addition of property, plant and equipment, and rental equipment   0   0      
Cash used in investing activities   (12,036)   (22,715) (63,530) (137,759) (222,820)
Financing Activities              
Repayment of long-term debt (Note 9)   (23,093)   (50,916) (59,476) (41,697) (15,748)
Net repayment of the Bank Facility   0   0      
Net proceeds from the Asset-Based Facility (Note 9)   0   0      
Repayment of the Notes (Note 9)   0   0      
Lease liability principal repayment (Note 10)   (3,151)   (6,487) (14,215) (12,770) (12,551)
Lease interest (Note 10)   (757)   (1,550) (3,029) (3,371) (2,586)
Dividends paid   (1,794)   (3,587) (7,171) (24,212) (37,548)
Stock option exercises (Note 13)             7,453
Debt refinancing and transaction costs   0   0      
Cash used in financing activities   (28,795)   (62,540) (83,891) (82,050) (60,980)
Effect of exchange rate changes on cash and cash equivalents denominated in foreign currencies   (385)   (946) (652) (1,018) (978)
Increase (decrease) in cash and cash equivalents   (11,670)   3,296 77,082 (579) (230,609)
Cash and cash equivalents, beginning of period   110,642 $ 172,758 95,676 95,676 96,255 326,864
Cash and cash equivalents, end of period   98,972   98,972 172,758 95,676 96,255
Restatement              
Operating Activities              
Net earnings (loss)   0   0      
Items not requiring cash and cash equivalents:              
Depreciation and amortization   0   0      
Equity (earnings) loss from associates and joint ventures   0   0      
Deferred income taxes (Note 11)   0   0      
Share-based compensation expense (Note 13)   0   0      
Gain on sale of property, plant and equipment (Note 4)   0   0      
Impairment on rental equipment (Note 4)   485   485 537 2,607 26,414
Adjustments to reconcile profit (loss) other than changes in working capital   485   485 537 2,607 26,414
Net change in working capital and other (Note 16)   (15,641)   (17,015) (17,498) 24,454 (13,662)
Cash provided by (used in) operating activities   (15,156)   (16,530) (16,961) 27,061 12,752
Additions to:              
Property, plant and equipment   0   0      
Rental equipment (Note 4)   0   0      
Proceeds on disposal of:              
Property, plant and equipment   0   0      
Rental equipment (Note 4)   90   431 978 1,471 1,988
Change in other assets   (3,895)   (5,336) 10,101 7,242 (26,911)
Investment in associates and joint ventures         (130) (1,939) (3,630)
Net change in accounts payable related to the addition of property, plant and equipment, and rental equipment   16,032   15,241 3,720 (39,512) 1,542
Cash used in investing activities   12,227   10,336 14,669 (32,738) (27,011)
Financing Activities              
Repayment of long-term debt (Note 9)   23,093   50,916 59,476 41,697 15,748
Net repayment of the Bank Facility   (22,106)   (46,865) (53,891) (40,081) (812)
Net proceeds from the Asset-Based Facility (Note 9)   43,714   43,714 36,916    
Repayment of the Notes (Note 9)   (40,000)   (40,000) (40,000)    
Lease liability principal repayment (Note 10)   0   0      
Lease interest (Note 10)   757   1,550 3,029 3,371 2,586
Dividends paid   0   0      
Debt refinancing and transaction costs   (892)   (1,047) (2,095) (258) (780)
Cash used in financing activities   4,566   8,268 3,435 4,729 16,742
Effect of exchange rate changes on cash and cash equivalents denominated in foreign currencies   (1,637)   (2,074) (1,143) 948 $ (2,483)
Increase (decrease) in cash and cash equivalents   0   0      
Cash and cash equivalents, beginning of period   0   0 $ 0    
Cash and cash equivalents, end of period   $ 0   $ 0   $ 0