Share-based compensation plans (Tables) (Class A common shares at par value, 2009 share award and incentive plan)

3 Months Ended

Mar. 31, 2014

Class A common shares at par value | 2009 share award and incentive plan

Share-based compensation plans

Schedule of assumptions

During the three months endedMarch 31, 2014, the following awards were made under the 2009 share award and incentive plan on the following dates. Estimates of fair values of deferred shares without performance criteria were made using the Black-Scholes options pricing model. Estimates of fair values of deferred shares with performance criteria and market conditions were made using the Monte Carlo valuation model.

2009 share award and incentive plan	Class A common shares	Date granted	Date vested	Purchase price	Expected share price volatility	Risk-free interest rate	Expected dividends per share	Expected life of awards
Deferred shares without performance criteria	94,000	March 21, 2014	March 21, 2017	$0.01	46%	0.91%	$—	3 years
Deferred shares with performance criteria and market conditions	251,400	March 21, 2014	March 21, 2017	$0.01	46%	0.89%	$—	3 years