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Income taxes (Tables)

12 Months Ended

Dec. 31, 2020

Income Tax Disclosure [Abstract]

Schedule of differences between tax provision and Federal and Provincial statutory income taxes

The reasons for the differences are as follows:

Year ended December 31,						2020						2019
Income before income taxes						$	60,472					$	39,991
Tax rate						23.00		%				26.50		%
Expected expense						$	13,909					$	10,598
Decrease related to:
Impact of enacted future statutory income tax rates						(211)						(5,797)
Rate differential on equity earnings in affiliates and joint ventures						(1,606)						(859)
Other						(828)						(1,097)
Deferred income tax expense						$	11,264					$	2,845
Current income tax expense						—						13
Total income tax expense						$	11,264					$	2,858

Schedule of deferred tax assets and liabilities

The deferred tax assets and liabilities are summarized below:

						December 31, 2020						December 31, 2019
Deferred tax assets:
Non-capital and net capital loss carryforwards						$	40,758					$	44,763
Finance lease obligations						27,736						27,220
Stock-based compensation						2,872						3,393
Other						1,990						682
Subtotal						$	73,356					$	76,058
Less: valuation allowance						(391)						(881)
						$	72,965					$	75,177
Deferred tax liabilities:
Contract assets						$	1,524					$	4,805
Property, plant and equipment						117,768						106,104
Other						1,461						1,114
						$	120,753					$	112,023
Net deferred income tax liability						$	47,788					$	36,846

Classified as:

						December 31, 2020						December 31, 2019
Deferred tax asset						$	16,407					$	15,655
Deferred tax liability						(64,195)						(52,501)
						$	(47,788)					$	(36,846)

Schedule of non-capital losses for income tax purposes

At December 31, 2020, the Company has a deferred tax asset of $40,367 resulting from non-capital loss carryforwards of $175,507, which expire as follows:

						December 31, 2020
2026						$	279
2031						179
2032						4,672
2033						5,893
2034						819
2036						3,125
2037						17,799
2038						86,979
2039						39,470
2040						16,292
						$	175,507

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- Definition

Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets.

+ References

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 2
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- Definition

Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations.

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-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 12
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Tabular disclosure of pertinent information, such as tax authority, amounts, and expiration dates, of net operating loss carryforwards, including an assessment of the likelihood of utilization.

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-Publisher FASB
-Name Accounting Standards Codification
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