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Income taxes | 12 Months Ended
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Dec. 31, 2022
Income Tax Disclosure [Abstract] |
Income taxes | Income taxes Income tax expense differs from the amount that would be computed by applying the federal and provincial statutory income tax rates to income before income taxes. The reasons for the differences are as follows:
Year ended December 31, |  | 2022 |  | 2021
Income before income taxes |  | $ | 84,445 |  |  | $ | 60,693 |
Equity earnings in affiliates and joint ventures |  | (37,053) |  |  | (21,860) |
|  | $ | 47,392 |  |  | $ | 38,833 |
Tax rate |  | 23.00 | % |  | 23.00 | %
Expected expense |  | $ | 10,900 |  |  | $ | 8,932 |
Adjustments related to: |  |  |  |
Stock-based compensation |  | 1,090 |  |  | 1,043 |
Foreign tax rate differential |  | 183 |  |  | 233 |
Tax on equity earnings in affiliates and joint ventures |  | 5,162 |  |  | 935 |
Other |  | (262) |  |  | (1,858) |
Total income tax expense |  | $ | 17,073 |  |  | $ | 9,285 |
Current income tax expense |  | $ | 1,627 |  |  | $ | 1,000 |
Deferred income tax expense |  | 15,446 |  |  | 8,285 |
Total income tax expense |  | $ | 17,073 |  |  | $ | 9,285 |
The deferred tax assets and liabilities are summarized below:
|  | December 31, 2022 |  | December 31, 2021
Deferred tax assets: |  |  |  |
Non-capital and net capital loss carryforwards |  | $ | 33,630 |  |  | $ | 40,367 |
Finance lease obligations |  | 17,981 |  |  | 24,785 |
Operating lease obligations |  | 3,415 |  |  | 3,247 |
Stock-based compensation |  | 4,200 |  |  | 4,029 |
Other |  | 2,241 |  |  | (1,154) |
|  | $ | 61,467 |  |  | $ | 71,274 |
Deferred tax liabilities: |  |  |  |
Contract assets |  | $ | 3,199 |  |  | $ | 932 |
Property, plant and equipment |  | 123,274 |  |  | 124,265 |
Other |  | 6,494 |  |  | 2,277 |
|  | $ | 132,967 |  |  | $ | 127,474 |
Net deferred income tax liability |  | $ | 71,500 |  |  | $ | 56,200 |
Classified as:
|  | December 31, 2022 |  | December 31, 2021
Deferred tax asset |  | $ | 387 |  |  | $ | — |
Deferred tax liability |  | (71,887) |  |  | (56,200) |
|  | $ | (71,500) |  |  | $ | (56,200) |
The Company and its subsidiaries file income tax returns in the Canadian federal jurisdiction, multiple provincial jurisdictions, the U.S. federal jurisdiction, three U.S state jurisdictions and the Australia federal jurisdiction. At December 31, 2022, the Company has non-capital loss carryforwards of $146,217, which expire as follows:
|  | December 31, 2022
2026 |  | $ | 3 |
2027 |  | 278 |
2032 |  | 176 |
2033 |  | 9,095 |
2037 |  | 5 |
2039 |  | 146 |
2040 |  | 112,450 |
2041 |  | 16,816 |
2042 |  | 7,248 |
|  | $ | 146,217 |

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- Definition The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 21 -URI https://asc.fasb.org/extlink&oid=121826272&loc=d3e32857-109319 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SAB Topic 11.C) -URI https://asc.fasb.org/extlink&oid=122134291&loc=d3e330215-122817 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 17 -Subparagraph (b) -URI https://asc.fasb.org/extlink&oid=121826272&loc=d3e32809-109319 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SAB TOPIC 6.I.5.Q1) -URI https://asc.fasb.org/extlink&oid=122134291&loc=d3e330036-122817 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 14 -URI https://asc.fasb.org/extlink&oid=121826272&loc=d3e32705-109319 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 270 -Section 50 -Paragraph 1 -URI https://asc.fasb.org/extlink&oid=6424409&loc=d3e44925-109338 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -URI https://asc.fasb.org/topic&trid=2144680 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 30 -Section 50 -Paragraph 2 -Subparagraph (a) -URI https://asc.fasb.org/extlink&oid=6424122&loc=d3e41874-109331 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08(h)(2)) -URI https://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690 + Details
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