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Share-Based Compensation (Tables)
12 Months Ended
Dec. 31, 2022
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:
 
  Years ended December 31,
  
2022
    
2021   
 
     
Equity settled share-based payments
  
$
1,558
 
   $ 1,783  
     
Deferred share units
  
 
3,622
 
     3,053    
     
Phantom share entitlement plan
  
 
117
 
     102  
     
Performance share units
  
 
4,172
 
     3,470  
     
Restricted share units
  
 
4,454
 
     2,751  
     
Cash performance target
  
 
2,239
 
     1,778  
     
Share-based compensation expense
  
$
                    16,162
 
   $                     12,937  
Summary of Equity-Settled Share-Based Payments
(b)
Equity-Settled Share-Based Payments
 
    
2022
     2021  
  
Years ended December 31,
  
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
  
 
(47,120)
 
  
 
5.51
 
     -        -  
         
Forfeited
  
 
(27,286)
 
  
 
13.51
 
     (24,267)        9.25    
         
Expired
  
 
(1,292,809)
 
  
 
13.98
 
     (231,278)        20.75  
         
Options outstanding, end of period
  
 
3,089,229
 
  
$
10.77
 
     4,456,444      $ 11.66  
         
Options exercisable, end of period
  
 
            1,671,421
 
  
$
12.48
 
     2,445,230      $ 13.62  
1
The weighted average share price of options at the date of exercise for the year ended December 31, 2022 was $8.03 (December 31, 2021 – nil).
Summary of Options Outstanding and Exercisable
The following table summarizes options outstanding and exercisable at December 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 – $6.68
     783,880        4.62      $ 5.51        286,552        4.62      $ 5.51  
             
$6.69 – $13.51
     1,072,991        4.30        9.81        460,251        2.95        11.48    
             
$13.52 – $16.12
     1,232,358        2.86        14.95        924,618        2.70        15.14  
             
Total
  
 
3,089,229
 
  
 
3.81
 
  
$
10.77
 
  
 
1,671,421
 
  
 
3.10
 
  
$
12.48
 
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
     307,037        7.12  
     
In lieu of dividends
     20,806        6.86    
     
Vested
  
 
(108,500)
 
     5.45  
     
DSUs outstanding, December 31, 2022
  
 
1,625,513
 
  
$
10.16
 
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, 2022
     222,920      $ 12.15    
     
Expired
     (22,669)        11.69  
     
PSEs outstanding, December 31, 2022
  
 
200,251
 
  
$
12.21
 
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, 2022
     1,308,416      $ 9.02  
     
Granted
     634,382        6.29    
     
In lieu of dividends
     17,835        6.93  
     
Vested
     (318,887)        6.10  
     
PSUs outstanding, December 31, 2022
  
 
1,641,746
 
  
$
8.51
 
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, 2022
     896,474      $ 7.62  
     
Granted
     995,336        6.29  
     
Acquisition (Note 7)
     572,260        6.29    
     
In lieu of dividends
     11,344        6.98  
     
Vested
     (394,537)        6.15  
     
Forfeited
     (79,044)        6.73  
     
RSUs outstanding, December 31, 2022
  
 
2,001,833
 
  
$
6.90