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CAPITAL STOCK (Tables)
 12 Months Ended
Dec. 31, 2017
Disclosure of share capital, reserves and other equity interest [Abstract]  
Schedule of cash dividends paid
Dividends
Cash dividends paid are as follows for each of the years in the three-year period ended December 31, 2017:
Declared Date
Paid date
 
Per common
share
amount
 
Shareholder
record date
 
Common
shares issued
and
outstanding
 
Aggregate
payment (1)
March 9, 2015
March 31, 2015
 
$0.12
 
March 19, 2015
 
60,355,638

 
$7,303
May 11, 2015
June 30, 2015
 
$0.12
 
June 15, 2015
 
59,621,238

 
$7,154
August 12, 2015
September 30, 2015
 
$0.13
 
September 15, 2015
 
59,502,185

 
$7,706
November 11, 2015
December 31, 2015
 
$0.13
 
December 15, 2015
 
58,667,535

 
$7,532
March 9, 2016
March 31, 2016
 
$0.13
 
March 21, 2016
 
58,522,835

 
$7,509
May 9, 2016
June 30, 2016
 
$0.13
 
June 15, 2016
 
58,602,835

 
$7,574
August 10, 2016
September 30, 2016
 
$0.14
 
September 15, 2016
 
58,621,585

 
$8,235
November 10, 2016
December 30, 2016
 
$0.14
 
December 15, 2016
 
59,060,335

 
$8,047
March 8, 2017
March 31, 2017
 
$0.14
 
March 21, 2017
 
59,110,335

 
$8,316
May 8, 2017
June 30, 2017
 
$0.14
 
June 15, 2017
 
59,169,710

 
$8,365
August 10, 2017
September 29, 2017
 
$0.14
 
September 15, 2017
 
59,036,310

 
$8,150
November 10, 2017
December 29, 2017
 
$0.14
 
December 15, 2017
 
58,799,910

 
$8,368
 
(1) 
Aggregate dividend payment amounts presented in the table above are adjusted for the impact of foreign exchange rates on cash payments to shareholders.
Schedule of share repurchases
Information regarding share repurchases is presented in the table below as of:
 
December 31,
2017
 
December 31,
2016
Common shares repurchased
487,300

 
147,200

Average price per common share including commissions
CDN$ 18.88
 
CDN$ 15.77
Carrying value of the common shares repurchased
$2,898
 
$862
Share repurchase premium (1)
$4,553
 
$835
Total purchase price including commissions
$
7,451

 
$
1,697

 
(1) 
The excess of the purchase price paid over the carrying value of the common shares repurchased is recorded in deficit in the consolidated balance sheet and in the statement of consolidated changes in equity.
Schedule of changes in number of options outstanding
The changes in number of stock options outstanding were as follows for each of the years in the three-year period ended December 31, 2017:
 
2017
 
2016
 
2015
 
Weighted
average
exercise
price
 
Number of
options
 
Weighted
average
exercise
price
 
Number of
options
 
Weighted
average
exercise
price
 
Number of
options
 
CDN$
 
 
 
CDN$
 
 
 
CDN$
 
 
Balance, beginning of year
11.38

 
1,061,250

 
8.78

 
1,617,500

 
7.01

 
2,360,000

Granted
—

 
—

 
—

 
—

 
—

 
—

Exercised
8.00

 
(226,875
)
 
3.56

 
(540,000
)
 
2.79

 
(712,500
)
Forfeited
—

 
—

 
12.35

 
(16,250
)
 
12.30

 
(30,000
)
Balance, end of year
12.29

 
834,375

 
11.38

 
1,061,250

 
8.78

 
1,617,500
Schedule of stock options outstanding and exercisable
The following table summarizes information about stock options outstanding and exercisable for each of the years in the three-year period ended December 31, 2017:
 
Options outstanding
 
Options exercisable
 
Number
 
Weighted
average
contractual
life (years)
 
Weighted
average
exercise price
 
Number
 
Weighted
average
exercise price
Range of exercise prices
 
 
 
 
CDN$
 
 
 
CDN$
December 31, 2017
 
 
 
 
 
 
 
 
 
$12.04 to $12.14
453,750

 
2.92

 
12.05

 
443,125

 
12.05

$12.55 to $14.34
380,625

 
3.88

 
12.58

 
278,125

 
12.60

 
834,375

 
3.36

 
12.29

 
721,250

 
12.26

 
 
 
 
 
 
 
 
 
 
December 31, 2016
 
 
 
 
 
 
 
 
 
$1.55 to $1.80
90,000

 
0.47

 
1.73

 
90,000

 
1.73

$12.04 to $14.34
971,250

 
4.53

 
12.27

 
602,500

 
12.20

 
1,061,250

 
4.18

 
11.38

 
692,500

 
10.84

 
 
 
 
 
 
 
 
 
 
December 31, 2015
 
 
 
 
 
 
 
 
 
$1.55 to $2.19
536,250

 
4.00

 
1.65

 
536,250

 
1.65

$12.04 to $14.34
1,081,250

 
5.35

 
12.31

 
414,375

 
12.25

 
1,617,500

 
4.90

 
8.78

 
950,625

 
6.27
Schedule of changes in number of other equity instruments outstanding
The following table summarizes information regarding SARs activity for three-year period ended December 31, 2017:
 
2017
 
2016
 
2015
SARs exercised
13,250


422,202

 
52,500

Cash payments on exercise, including awards exercised but not yet paid
$155

$4,017

$462
SARs forfeited
—


—


10,000


The following table summarizes information regarding SARs outstanding as of:
 
December 31, 2017
 
December 31, 2016
SARs outstanding
147,500

 
160,750

Weighted average fair value per SARs outstanding
$10.85
 
$12.37
Aggregate intrinsic value of outstanding vested awards
$1,634
 
$2,110
The following table summarizes information about PSUs for each of the years in the three-year period ended December 31, 2017:
 
2017
 
2016
 
2015
PSUs granted
358,386

 
422,733

 
363,600

Weighted average fair value per PSU granted
$16.15
 
$13.85
 
$13.64
PSUs forfeited/cancelled
7,952

 
28,696

 
18,060

PSUs added by performance factor (1)
69,600

 
—

 
—

PSUs settled
208,800

 
—

 
—

Weighted average fair value per PSU settled
$18.49
 
—

 
—

Cash payment on settlement
$4,174
 
—

 
—



(1) 
On June 15, 2017, the Board of Directors approved the settlement of PSUs granted in 2014, which had been earned and vested. The number of PSUs earned was 150% of the grant amount based on the TSR ranking versus a specified peer group of companies as of June 11, 2017.
The following table summarizes information about DSUs for the three-year period ended December 31, 2017:
 
2017
 
2016
 
2015
DSUs granted
48,179

 
52,665

 
46,142

Weighted average fair value per DSU granted
$17.79
 
$16.76
 
$15.09
 
 
 
 
 
 
Shares issued upon DSU settlement:
 
 
 
 
 
 DSUs settled
—

 
—

 
16,460

Less: shares withheld for required minimum tax withholding
—

 
—

 
(10,063
)
Shares issued
—

 
—

 
6,397

 
The following table summarizes information about DSUs outstanding as of:
 
December 31,
2017
 
December 31,
2016
DSUs outstanding
167,427

 
119,248

Weighted average fair value per DSU outstanding
$16.91
 
$15.04

The following table summarizes information about PSUs outstanding as of:
 
December 31,
2017
 
December 31,
2016
PSUs outstanding
1,103,311

 
892,077

Weighted average fair value per PSU outstanding
$14.14
 
$13.41
Schedule of assumptions to calculate weighted average fair value of other equity instruments
The weighted average fair value of PSUs granted was estimated based on a Monte Carlo simulation model, taking into account the following weighted average assumptions for each of the years in the three-year period ended December 31, 2017:
 
2017
 
2016
 
2015
Expected life
3 years

 
3 years

 
3 years

Expected volatility (1)
34
%
 
36
%
 
35
%
Risk-free interest rate
1.57
%
 
1.09
%
 
1.07
%
Performance period starting price (2)
CDN$ 22.26
 
CDN$ 18.89
 
CDN$ 17.86
Stock price as of estimation date
CDN$ 21.94
 
CDN$ 18.90
 
CDN$ 17.53
Expected dividends (3)
CDN$ 0.00
 
CDN$ 0.00
 
CDN$ 0.00
  
(1) 
Expected volatility was calculated based on the daily dividend adjusted closing price change on the TSX for a term commensurate with the expected life of the grant.
(2) 
The performance period starting price is measured as the VWAP for the common shares of the Company on the TSX on
the grant dates.
(3) 
A participant will receive a cash payment from the Company upon PSU settlement that is equivalent to the number of
settled PSUs multiplied by the amount of cash dividends per share declared by the Company between the date of grant
and the settlement date. As such, there is no impact from expected future dividends in the Monte Carlo simulation model.
Schedule of performance percentage of awards granted
Based on the Company’s TSR ranking as of December 31, 2017, the number of PSUs earned if all of the outstanding awards were to be settled at December 31, 2017, would be as follows:
Grant Date
Performance
March 13, 2015
100
%
May 14, 2015
100
%
May 20, 2015
100
%
March 21, 2016
100
%
December 20, 2016
—
%
March 20, 2017
—
%
Disclosure of share-based compensation expense and liabilities
The following table summarizes share-based compensation expense (benefit) recorded in earnings in selling, general and administrative expense ("SG&A") for three-year period ended December 31, 2017:
 
2017
 
2016
 
2015
 
$
 
$
 
$
Stock options
167

 
427

 
931

PSUs
2,903

 
4,369

 
1,858

DSUs
512

 
884

 
676

SARs
(291
)
 
2,521

 
(216
)
 
3,291

 
8,201

 
3,249

The following table summarizes share-based liabilities recorded in the consolidated balance sheets for the years ended:
 
December 31,
2017
 
December 31,
2016
Share-based compensation liabilities, current
$
 
$
PSUs(1)
5,709

 
211

DSUs(2)
2,956

 
—

SARs
1,600

 
1,989

 
10,265

 
2,200

 
 
 
 
Share-based compensation liabilities, non-current
 
 
 
PSUs (1)
4,984

 
296

 
4,984

 
296


(1)     Includes dividend equivalents accrued on PSUs.
(2)     Includes effect of DSUs received in lieu of cash for directors' fees not yet granted.
Schedule of activity in contributed surplus
The activity for the three-year period ended December 31, 2017 in the consolidated changes in equity under the caption contributed surplus is detailed as follows:
 
2017
 
2016
 
2015
 
$
 
$
 
$
Change in excess tax benefit on exercised share-based awards
(597
)
 
(2,693
)
 
(2,088
)
Change in excess tax benefit on outstanding share-based awards
(3,135
)
 
4,302

 
(1,502
)
Share-based compensation expense credited to capital on options exercised
(495
)
 
(595
)
 
(746
)
Share-based compensation expense
 
 
 
 
 
Stock options
167

 
427

 
931

DSUs
(1,935
)
 
885

 
665

PSUs
(6,060
)
 
3,961

 
1,763

 
(7,828
)
 
5,273

 
3,359

DSU settlement, net of required minimum tax withholding
—

 
—

 
(218
)
Change in contributed surplus
(12,055
)
 
6,287

 
(1,195
)