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Income taxes (Tables) | 12 Months Ended
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Dec. 31, 2024
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, |  | 2024 |  | 2023
Income before income taxes |  | $ | 60,035 |  |  | $ | 85,963 |
Equity earnings in affiliates and joint ventures |  | (15,299) |  |  | (25,199) |
|  | $ | 44,736 |  |  | $ | 60,764 |
Tax rate |  | 23.00 | % |  | 23.00 | %
Expected expense |  | $ | 10,289 |  |  | $ | 13,976 |
Adjustments related to: |  |  |  |
Stock-based compensation |  | 1,241 |  |  | 1,092 |
Foreign tax rate differential |  | 2,463 |  |  | 2,164 |
Tax on equity earnings in affiliates and joint ventures |  | 3,519 |  |  | 5,794 |
Other |  | (1,562) |  |  | (204) |
Total income tax expense |  | $ | 15,950 |  |  | $ | 22,822 |
Current income tax expense |  | $ | (3,280) |  |  | $ | 6,841 |
Deferred income tax expense |  | 19,230 |  |  | 15,981 |
Total income tax expense |  | $ | 15,950 |  |  | $ | 22,822 |
Schedule of deferred tax assets and liabilities | The deferred tax assets and liabilities are summarized below:
|  | December 31, 2024 |  | December 31, 2023
Deferred tax assets: |  |  |  |
Non-capital and net capital loss carryforwards |  | $ | 13,740 |  |  | $ | 26,713 |
Finance lease obligations |  | 26,541 |  |  | 23,116 |
Accrued liabilities |  | 5,721 |  |  | 3,211 |
Operating lease obligations |  | 3,116 |  |  | 6,161 |
Stock-based compensation |  | 5,542 |  |  | 4,913 |
Contingent obligations |  | 17,200 |  |  | 1,229 |
Acquisition costs |  | 1,470 |  |  | 1,858 |
Other |  | 7,051 |  |  | 5,611 |
|  | $ | 80,381 |  |  | $ | 72,812 |
Deferred tax liabilities: |  |  |  |
Contract assets |  | $ | 602 |  |  | $ | 5,693 |
Property, plant and equipment |  | 179,581 |  |  | 168,813 |
Investments in affiliates and joint ventures |  | 12,387 |  |  | 2,266 |
Operating lease right-of-use assets |  | 3,002 |  |  | 2,827 |
Deferred financing costs |  | 1,114 |  |  | 1,355 |
Other |  | 9,073 |  |  | 682 |
|  | $ | 205,759 |  |  | $ | 181,636 |
Net deferred income tax liability |  | $ | 125,378 |  |  | $ | 108,824 |
Classified as:
|  | December 31, 2024 |  | December 31, 2023
Deferred tax asset |  | $ | — |  |  | $ | — |
Deferred tax liability |  | (125,378) |  |  | (108,824) |
|  | $ | (125,378) |  |  | $ | (108,824) |
Schedule of non-capital losses for income tax purposes | At December 31, 2024, the Company has non-capital loss carryforwards of $63,213, which expire as follows:
|  | December 31, 2024
2026 |  | $ | 3 |
2027 |  | 278 |
2032 |  | 175 |
2033 |  | 9,095 |
2037 |  | 5 |
2039 |  | 29 |
2040 |  | 406 |
2041 |  | 3,569 |
2042 |  | 3,576 |
2043 |  | 3,398 |
2044 |  | 2,731 |
No expiry |  | 39,948 |
|  | $ | 63,213 |

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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. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 231 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482663/740-10-55-231 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12A -Publisher FASB -URI https://asc.fasb.org/1943274/2147482685/740-10-50-12A Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482685/740-10-50-12 + Details
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