Share-based compensation (Tables)

3 Months Ended

Apr. 02, 2022

Share-based Payment Arrangement [Abstract]

Schedule of stock option activity

Summary of movements in options outstanding

		Three months ended April 2, 2022
	Plan	Number of options	Weighted average exercise price $
Outstanding at the beginning of the period:
—Tier I	2014 Plan	2,752,700	$	6.91
—Tier II	2014 Plan	3,577,470	$	6.90
—Tier III	2014 Plan	3,577,470	$	6.90
—Tier IV	2014 Plan	3,577,470	$	10.35
—SARs	Both plans	829,108	$	9.31
—Share options	2018 Plan	3,254,097	$	14.84
—Premium-priced options	2018 Plan	835,469	$	18.88
		18,403,784	$	9.63
Granted during the period:
—SARs	2018 Plan	62,055	$	15.76
		62,055	$	15.76
Forfeited during the period:
—SARs	2018 Plan	(4,668)	$	11.38
—Share options	2018 Plan	(37,894)	$	14.39
		(42,562)	$	14.06
Expired during the period:
—SARs	2018 Plan	(1,333)	$	10.46
—Share options	2018 Plan	(8,077)	$	16.37
		(9,410)	$	15.53
Exercised during the period:
—Tier I	2014 Plan	(2,000)	$	7.21
—SARs	Both Plans	(4,164)	$	11.00
—Share options	2018 Plan	(15,828)	$	14.10
		(21,992)	$	12.89
Outstanding at the end of the period:
—Tier I	2014 Plan	2,750,700	$	6.91
—Tier II	2014 Plan	3,577,470	$	6.90
—Tier III	2014 Plan	3,577,470	$	6.90
—Tier IV	2014 Plan	3,577,470	$	10.35
—SARs	Both plans	880,998	$	9.74
—Share options	2018 Plan	3,192,298	$	14.85
—Premium-priced options	2018 Plan	835,469	$	18.88
		18,391,875	$	9.63
Exercisable at the end of the period		12,852,598	$	9.66
Vested and expected to vest at the end of the period		14,805,088	$	10.28

Schedule of RSU and PRSU activity

Summary of movements in RSUs and PRSUs outstanding

	Three months ended April 2, 2022
	Number of awards	Weighted average grant date fair value $
Outstanding at the beginning of the period:
—RSUs	1,744,405	$	13.98
—PRSUs	883,978	$	16.98
	2,628,383	$	14.99
Granted during the period:
—RSUs	1,271,922	$	15.76
—PRSUs	425,670	$	17.23
	1,697,592	$	16.13
Forfeited during the period:
—RSUs	(38,598)	$	13.59
—PRSUs	(120,458)	$	22.47
	(159,056)	$	20.31
Vested during the period:
—RSUs	(752,208)	$	13.79
—PRSUs	(80,308)	16.46
	(832,516)	$	14.04
Outstanding at the end of the period:
—RSUs	2,225,521	$	15.07
—PRSUs	1,108,882	$	16.52
	3,334,403	$	15.55

Schedule of share based compensation valuation techniques

The weighted average fair values and relevant assumptions were as follows:

	Three months ended
	April 2, 2022			April 3, 2021
Weighted average grant date fair value:
—SARs	$	6.94		$	6.66
—Share options	n/a			$	6.66
—Premium-priced options	n/a			$	6.36
—RSUs	$	15.76		$	15.00
—PRSUs	$	17.23		$	17.92
Inputs to the model:
—Expected volatility - SARs	43.5		%	46.1		%
—Expected volatility - share options	n/a			46.1		%
—Expected volatility - premium-priced options	n/a			46.1		%
—Expected volatility - PRSUs	49.1		%	50.8		%
—Expected option life for SARs (years)	6.0			6.0
—Expected option life for share options (years)	n/a			6.0
—Expected option life for premium-priced options (years)	n/a			6.0
—Risk-free interest rate:
SARs	1.91		%	0.95		%
Share options	n/a			0.95		%
Premium-priced options	n/a			0.95		%
PRSUs	1.72		%	0.27		%