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SHARE-BASED PAYMENTS (Tables)
12 Months Ended
Dec. 31, 2017
Share-based payment transaction  
Summary of share-based compensation recorded during the year

 

 

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