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Income taxes (Tables)

12 Months Ended

Dec. 31, 2023

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,						2023						2022
Income before income taxes						$	85,963					$	84,445
Equity earnings in affiliates and joint ventures						(25,815)						(37,053)
						$	60,148					$	47,392
Tax rate						23.00		%				23.00		%
Expected expense						$	13,834					$	10,900
Adjustments related to:
Stock-based compensation						1,092						1,090
Foreign tax rate differential						2,164						183
Tax on equity earnings in affiliates and joint ventures						5,936						5,162
Other						(204)						(262)
Total income tax expense						$	22,822					$	17,073
Current income tax expense						$	6,841					$	1,627
Deferred income tax expense						15,981						15,446
Total income tax expense						$	22,822					$	17,073

Schedule of deferred tax assets and liabilities

The deferred tax assets and liabilities are summarized below:

						December 31, 2023						December 31, 2022
Deferred tax assets:
Non-capital and net capital loss carryforwards						$	26,713					$	33,630
Finance lease obligations						23,116						17,981
Operating lease obligations						6,161						3,415
Stock-based compensation						4,913						4,200
Transaction costs						1,858						—
Other						10,051						2,241
						$	72,812					$	61,467
Deferred tax liabilities:
Contract assets						$	5,693					$	3,199
Property, plant and equipment						168,813						123,274
Other						7,130						6,494
						$	181,636					$	132,967
Net deferred income tax liability						$	108,824					$	71,500

Classified as:

						December 31, 2023						December 31, 2022
Deferred tax asset						$	—					$	387
Deferred tax liability						(108,824)						(71,887)
						$	(108,824)					$	(71,500)

Schedule of non-capital losses for income tax purposes

At December 31, 2023, the Company has non-capital loss carryforwards of $116,143, which expire as follows:

						December 31, 2023
2026						$	3
2027						278
2032						175
2033						9,095
2037						5
2039						118
2040						82,668
2041						16,816
2042						3,677
2043						3,308
						$	116,143

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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.

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-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
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-Section 50
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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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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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