XML 84 R26.htm IDEA: XBRL DOCUMENT v2.4.0.8
Share Capital (Tables)
12 Months Ended
Dec. 31, 2013
Stockholders' Equity Note [Abstract]  
Schedule of Compensation Cost for Share-based Payment Arrangements, Allocation of Share-based Compensation Costs by Plan [Table Text Block]
The amounts recognized for stock-based compensation were as follows:

(Thousands of U.S. Dollars)
 
Year Ended December 31,
 
 
2013
 
2012
 
2011
Compensation costs for stock options
 
$
8,418

 
$
13,116

 
$
13,723

Compensation costs for RSUs
 
2,936

 

 

 
 
11,354

 
13,116

 
13,723

Less: stock-based compensation costs capitalized
 
(2,436
)
 
(1,110
)
 
(956
)
Total stock-based compensation expense
 
$
8,918

 
$
12,006

 
$
12,767

Assumptions used to estimate the fair value of stock option awards
The fair value of each stock option award is estimated on the date of grant using the Black-Scholes option pricing model based on assumptions noted in the following table:
 
 
Year Ended December 31,
 
2013
2012
2011
Dividend yield (per share)
Nil

Nil

Nil

Volatility
42% to 54%

59% to 75%

75% to 81%

Weighted average volatility
53
%
75
%
80
%
Risk-free interest rate
0.3% to 0.7%

0.3% to 0.4%

0.4% to 1.4%

Expected term
4-5 years

4-6 years

4-6 years

Stock options outstanding
The following table provides information about stock option and RSU activity for the year ended December 31, 2013:
 
RSUs
Options
 
Number of Outstanding Share Units
Number of Outstanding Options
 
Weighted Average Exercise Price $/Option
Balance, December 31, 2012

15,399,662

 
5.11

Granted
966,320

2,121,375

 
6.29

Exercised

(1,306,317
)
 
(2.89
)
Forfeited
(44,275
)
(396,003
)
 
(7.01
)
Expired

(150,259
)
 
(6.25
)
Balance, December 31, 2013
922,045

15,668,458

 
5.41

Exercisable, at December 31, 2013
 
10,372,602

 
4.87

Vested, or expected to vest, at December 31, 2013, through the life of the options
 
15,142,311

 
5.37


Weighted average shares outstanding
Weighted Average Shares Outstanding
 
 
 
Year Ended December 31,
 
 
2013
 
2012
 
2011
Weighted average number of common and exchangeable shares outstanding
 
282,808,497

 
280,741,255

 
273,491,564

Shares issuable pursuant to warrants
 

 
175,061

 
2,708,183

Shares issuable pursuant to stock options
 
12,041,260

 
5,879,929

 
5,143,498

Shares assumed to be purchased from proceeds of stock options
 
(8,721,860
)
 
(2,623,991
)
 
(56,243
)
Weighted average number of diluted common and exchangeable shares outstanding
 
286,127,897

 
284,172,254

 
281,287,002