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Share-Based Compensation (Tables)
12 Months Ended
Dec. 31, 2023
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,
 
2023
     2022  
Equity-settled share-based payments
 
$
450
 
   $ 1,558  
Deferred share units
 
 
(1,713)
 
     3,622  
Phantom share entitlement plan
 
 
(187)
 
     117  
Performance share units
 
 
(442)
 
     4,172  
Restricted share units
 
 
6,764
 
     4,454  
Cash performance target
 
 
   2,780
 
        2,239  
Share-based compensation expense
 
$
7,652
 
   $ 16,162  
Summary of Equity-Settled Share-Based Payments
(b) Equity-Settled Share-Based Payments
 
    
2023
     2022  
Years ended December 31,
  
Number of
options
    
Weighted
average
exercise price
     Number of
options
     Weighted
average
exercise price
 
Options outstanding, beginning of period
  
 
3,089,229
 
  
$
10.77
 
     4,456,444      $ 11.66  
Exercised
1
  
 
(217,845)
 
  
 
5.87
 
     (47,120)        5.51  
Forfeited
  
 
(318,840)
 
  
 
9.54
 
     (27,286)        13.51  
Expired
  
 
(254,569)
 
  
 
13.32
 
     (1,292,809)        13.98  
Options outstanding, end of period
  
 
2,297,975
 
  
$
11.12
 
     3,089,229      $ 10.77  
Options exercisable, end of period
  
 
1,589,639
 
  
$
   12.52
 
     1,671,421      $    12.48  
1
The weighted average share price of options at the date of exercise for the year ended December 31, 2023 was $8.16 (December 31, 2022 – $8.03).
Summary of Options Outstanding and Exercisable
The following table summarizes options outstanding and exercisable at December 31, 2023:
 
     
Options Outstanding
    
Options Exercisable
 
Range of exercise prices
1
   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
     517,559        3.62      $ 5.51        250,394        3.62      $ 5.51  
$6.69 – $14.75
     1,142,861        3.54        10.95        701,690        3.21        11.89  
$14.76 – $16.12
     637,555        1.21        15.97        637,555        1.21        15.97  
Total
  
 
 2,297,975
 
  
 
   2.91
 
  
$
  11.12
 
  
 
 1,589,639
 
  
 
   2.47
 
  
$
  12.52
 
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
     1,625,513      $ 10.16  
Granted
     314,208        7.44  
In lieu of dividends
     20,817        7.65  
Vested
     (400,428)        6.75  
DSUs outstanding, December 31, 2023
  
 
    1,560,110
 
  
$
        10.45
 
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, December 31, 2022
     200,251      $ 12.21  
Exercised
     (13,941)        5.51  
Expired
     (27,397)        13.27  
PSEs outstanding, December 31, 2023
  
 
    158,913
 
  
$
        12.61
 
Performance share units [member]  
Disclosure of terms and conditions of share-based payment arrangement [line items]  
Summary of Share Units
      Number of
PSUs
     TSX Canadian
Dollar
Weighted
average grant
date fair value
per unit
     Number of
PSUs
     NYSE
US Dollar
Weighted
average grant
date fair value
per unit
 
PSUs outstanding, December 31, 2022
     1,641,746      $    8.51        -      $    -  
Granted
     341,072        8.40        271,566        6.24  
In lieu of dividends
     19,150        7.81        1,163        4.30  
Vested
     (227,074)        9.25        -        -  
Forfeited
     (563,999)        6.21        -        -  
PSUs outstanding, December 31, 2023
  
 
1,210,895
 
  
$
9.40
 
  
 
272,729
 
  
$
6.23
 
Restricted share units [member]  
Disclosure of terms and conditions of share-based payment arrangement [line items]  
Summary of Share Units
      Number of
RSUs
     TSX Canadian
Dollar
Weighted
average grant
date fair value
per unit
     Number of
RSUs
     NYSE
US Dollar
Weighted
average grant
date fair value
per unit
 
RSUs outstanding, December 31, 2022
     2,001,833      $ 6.90        -      $ -  
Granted
     1,069,821        8.53        799,191        6.27  
In lieu of dividends
     24,121        7.71        3,596        4.46  
Vested
     (933,104)        8.87        (16,388)        6.83  
Forfeited
     (389,079)        7.17        (57,808)        6.36  
RSUs outstanding, December 31, 2023
  
 
1,773,592
 
  
$
6.79
 
  
 
728,591
 
  
$
6.24