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Consolidated Statements of Cash Flows - CAD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Operating activities:    
Net income $ 63,141 $ 67,372
Adjustments to reconcile net income to cash from operating activities:    
Depreciation 131,319 119,268
Amortization of deferred financing costs 1,635 1,076
Loss on disposal of property, plant and equipment 1,659 536
Gain on derivative financial instruments (6,063) (778)
Stock-based compensation expense 15,828 4,780
Cash settlement of deferred share unit plan (7,817) 0
Equity earnings in affiliates and joint ventures (25,815) (37,053)
Dividends and advances received from affiliates and joint ventures 19,330 12,760
Deferred income tax expense 15,981 15,446
Non-cash changes in fair value of contingent consideration 8,268 0
Other adjustments to cash from operating activities 1,875 (896)
Net changes in non-cash working capital 51,050 (13,310)
Total operating activities 270,391 169,201
Investing activities:    
Acquisition of MacKellar, net of cash acquired (51,671) 0
Acquisition of ML Northern Services Limited, net of cash acquired 0 (2,205)
Purchase of property, plant and equipment (202,809) (111,499)
Additions to intangible assets (683) (3,765)
Proceeds on disposal of property, plant and equipment 10,419 3,400
Net payment on the wind up of affiliates and joint ventures (387) 0
Net (advances) collections of loans with affiliates and joint ventures (2,345)  
Net (advances) collections of loans with affiliates and joint ventures   16,600
Cash settlement of derivative financial instruments 2,597 0
Total investing activities (244,879) (97,469)
Financing activities:    
Proceeds from long-term debt 340,027 83,400
Repayment of long-term debt (315,598) (58,640)
Financing costs (5,782) (318)
Dividends paid (10,034) (7,773)
Payments of contingent consideration (10,369) 0
Share purchase program 0 (34,132)
Purchase of treasury shares (5,991) (2,030)
Total financing activities (7,747) (19,493)
Increase in cash 17,765 52,239
Effect of exchange rate on changes in cash 1,705 304
Cash, beginning of year 69,144 16,601
Cash, end of year $ 88,614 $ 69,144