SHARE-BASED PAYMENTS (Tables)
|
12 Months Ended |
Dec. 31, 2017 |
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| Share-based payment transaction |
|
| Summary of share-based compensation recorded during the year |
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|
|
Years ended December 31,
|
|
|
|
|
2017
|
|
2016
|
|
|
Share option plan expense (i)
|
|
$
|
2.4
|
|
$
|
2.8
|
|
|
Restricted share unit plan expense, including restricted performance shares (ii)
|
|
23.4
|
|
24.0
|
|
|
Deferred share units expense (iii)
|
|
1.2
|
|
1.2
|
|
|
Employer portion of employee share purchase plan (iv)
|
|
2.0
|
|
2.0
|
|
|
|
|
|
|
|
|
|
Total share-based compensation
|
|
$
|
29.0
|
|
$
|
30.0
|
|
|
|
|
|
|
|
|
|
|
|
| Share options |
|
| Share-based payment transaction |
|
| Summary of status of the share option plan and changes during the year |
The following table summarizes the status of the share option plan and changes during the years ended December 31, 2017 and 2016:
|
|
|
2017
|
|
2016
|
|
|
|
|
Number of options
(000’s)
|
|
Weighted average
exercise price
(CDN$/option)
|
|
Number of options
(000’s)
|
|
Weighted average
exercise price
(CDN$/option)
|
|
|
Balance at January 1
|
|
12,429
|
|
$
|
6.95
|
|
13,513
|
|
$
|
7.57
|
|
|
Granted
|
|
1,669
|
|
5.06
|
|
1,872
|
|
4.17
|
|
|
Exercised
|
|
(265
|
)
|
4.09
|
|
(708
|
)
|
5.17
|
|
|
Forfeited
|
|
(1,567
|
)
|
8.74
|
|
(1,300
|
)
|
6.57
|
|
|
Expired
|
|
(93
|
)
|
7.38
|
|
(948
|
)
|
12.17
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Outstanding at end of period
|
|
12,173
|
|
$
|
6.52
|
|
12,429
|
|
$
|
6.95
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Exercisable at end of period
|
|
8,539
|
|
$
|
7.41
|
|
7,911
|
|
$
|
8.51
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Summary of information about the stock options outstanding and exercisable |
The following table summarizes information about the stock options outstanding and exercisable at December 31, 2017:
|
|
|
Options outstanding
|
|
Options exercisable
|
|
|
Exercise price range in
|
|
Number of
options
|
|
Weighted
average
exercise price
|
|
Weighted
average
remaining
contractual
life
|
|
Number of
options
|
|
Weighted
average
exercise price
|
|
Weighted
average
remaining
contractual
life
|
|
|
CDN$:
|
|
(000’s)
|
|
(CDN$)
|
|
(years)
|
|
(000’s)
|
|
(CDN$)
|
|
(years)
|
|
|
$
|
2.96
|
|
$
|
4.22
|
|
4,169
|
|
$
|
3.87
|
|
4.12
|
|
2,151
|
|
$
|
3.81
|
|
3.81
|
|
| 4.23
|
|
9.53
|
|
6,145
|
|
6.41
|
|
3.32
|
|
4,528
|
|
6.89
|
|
2.31
|
|
| 9.54
|
|
14.31
|
|
1,140
|
|
10.70
|
|
1.20
|
|
1,141
|
|
10.70
|
|
1.20
|
|
| 14.32
|
|
16.25
|
|
719
|
|
16.25
|
|
0.15
|
|
719
|
|
16.25
|
|
0.15
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
12,173
|
|
$
|
6.52
|
|
3.21
|
|
8,539
|
|
$
|
7.41
|
|
2.36
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Summary of weighted average assumptions used in computing the fair value of stock options using the Black-Scholes option pricing model |
The following weighted average assumptions were used in computing the fair value of stock options using the Black-Scholes option pricing model granted during the years ended December 31, 2017 and 2016:
|
|
|
2017
|
|
2016
|
|
|
Weighted average share price (CDN$)
|
|
$
|
5.06
|
|
$
|
4.17
|
|
|
Expected dividend yield
|
|
0.0
|
%
|
0.0
|
%
|
|
Expected volatility
|
|
49.3
|
%
|
56.9
|
%
|
|
Risk-free interest rate
|
|
1.1
|
%
|
0.6
|
%
|
|
Expected option life (in years)
|
|
4.5
|
|
4.5
|
|
|
|
|
|
|
|
|
|
Weighted average fair value per stock option granted (CDN$)
|
|
$
|
2.09
|
|
$
|
1.92
|
|
|
|
|
|
|
|
|
|
|
|
| RSUs |
|
| Share-based payment transaction |
|
| Summary of information about number of units of other equity instruments and their weighted average fair value |
The following table summarizes information about the RSUs outstanding at December 31, 2017 and 2016:
|
|
|
2017
|
|
2016
|
|
|
|
|
Number of units
(000’s)
|
|
Weighted average
fair value
(CDN$/unit)
|
|
Number of units
(000’s)
|
|
Weighted average
fair value
(CDN$/unit)
|
|
|
Balance at January 1
|
|
9,219
|
|
$
|
4.01
|
|
9,041
|
|
$
|
4.41
|
|
|
Granted
|
|
5,128
|
|
5.07
|
|
5,502
|
|
4.14
|
|
|
Redeemed
|
|
(4,847
|
)
|
4.01
|
|
(4,435
|
)
|
4.96
|
|
|
Forfeited
|
|
(1,223
|
)
|
4.24
|
|
(889
|
)
|
4.11
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Outstanding at end of period
|
|
8,277
|
|
$
|
4.63
|
|
9,219
|
|
$
|
4.01
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| RPSUs |
|
| Share-based payment transaction |
|
| Summary of information about number of units of other equity instruments and their weighted average fair value |
The following table summarizes information about the RPSUs outstanding at December 31, 2017 and 2016:
|
|
|
2017
|
|
2016
|
|
|
|
|
Number of units
(000’s)
|
|
Weighted average
fair value
(CDN$/unit)
|
|
Number of units
(000’s)
|
|
Weighted average
fair value
(CDN$/unit)
|
|
|
Balance at January 1
|
|
4,993
|
|
$
|
4.51
|
|
4,313
|
|
$
|
4.88
|
|
|
Granted
|
|
1,209
|
|
5.32
|
|
1,887
|
|
4.47
|
|
|
Redeemed
|
|
(889
|
)
|
5.39
|
|
(495
|
)
|
6.55
|
|
|
Forfeited
|
|
(427
|
)
|
4.81
|
|
(712
|
)
|
5.20
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Outstanding at end of period
|
|
4,886
|
|
$
|
4.52
|
|
4,993
|
|
$
|
4.51
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| DSUs |
|
| Share-based payment transaction |
|
| Summary of information about number of units of other equity instruments and their weighted average fair value |
|
|
|
Years ended December 31,
|
|
|
|
|
2017
|
|
2016
|
|
|
DSUs granted (000’s)
|
|
297
|
|
308
|
|
|
Weighted average grant-date fair value (CDN$/ unit)
|
|
$
|
5.15
|
|
$
|
4.97
|
|
|