Share-based Compensation (Tables)

12 Months Ended

Jan. 02, 2016

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

The table below summarizes the share-based compensation expense for the years ended January 2, 2016, January 3, 2015, and December 28, 2013.


	For the Year Ended
	January 2,		January 3,		December 28,
(in millions of U.S. dollars)	2016		2015		2013
Stock options	$	1.9	$	1.6	$	0.8
Performance-based RSUs		4.9		0.6		0.2
Time-based RSUs		2.4		2.8		2.2
Director share awards		1.0		0.8		0.8
Employee Share Purchase Plan		0.1		—		—

Total	$	10.3	$	5.8	$	4.0

Unrecognized Share-based Compensation Expense

As of January 2, 2016, the unrecognized share-based compensation expense and weighted average years over which we expect to recognize it as compensation expense were as follows:


(in millions of U.S. dollars, except years)	Unrecognized share-based compensation expense as of January 2, 2016		Weighted average years expected to recognize compensation
Stock options	$	2.6		1.8
Performance-based RSUs		7.9		1.9
Time-based RSUs		2.3		1.6

Total	$	12.8

Schedule of Stock Option Assumptions

The grant date fair value of each option granted during the years ended January 2, 2016, January 3, 2015 and December 28, 2013 was estimated on the date of grant using the Black-Scholes option pricing model with the following weighted-average assumptions:


	For the Year Ended
	January 2,			January 3,			December 28,
	2016			2015			2013
Risk-free interest rate		2.0	%		2.7	%		1.7	%
Average expected life (years)		10.0			10.0			10.0
Expected volatility		58.7	%		58.5	%		32.3	%
Expected dividend yield		3.0	%		2.9	%		—

Stock Option Activity

The following table summarizes the activity for Company stock options:


	Stock Options (in thousands)			Weighted average exercise price		Weighted average remaining contractual term (years)		Aggregate intrinsic value (in thousands)
Outstanding at December 29, 2012		468		$	7.13		7.3	$	788.8

Granted		392			9.29
Forfeited or expired		(30	)		6.58

Outstanding at December 28, 2013		830			8.17		7.6		811.9

Granted		441			8.00
Forfeited or expired		(50	)		16.45

Outstanding at January 3, 2015		1,221			7.77		7.6		400.7

Granted		684			9.22
Exercised		(113	)		4.94				637.4
Forfeited or expired		(35	)		8.56

Outstanding at January 2, 2016		1,757		$	8.50		8.0	$	4,373.8

Exercisable at January 2, 2016		670		$	8.10		6.8	$	1,929.0

Vested or expected to vest at January 2, 2016		1,757		$	8.50		8.0	$	4,373.8

Schedule of Stock Option Outstanding

Outstanding options at January 2, 2016 were as follows:


	Options Outstanding						Options Exercisable
Exercise Price	Number of Options (in thousands)		Remaining Contractual Life (Years)		Weighted Average Exercise Price		Number of Options (in thousands)		Weighted Average Exercise Price
$6.58		294		6.1	$	6.58		294	$	6.58
$8.00		421		8.1	$	8.00		3	$	8.00
$9.00		86		9.2	$	9.00		—	$	—
$9.25		583		9.2	$	9.25		—	$	—
$9.29		373		7.3	$	9.29		373	$	9.29

		1,757		8.0	$	8.50		670	$	8.10

Performance-based RSU and Time-Based RSU Activity

During the year ended January 2, 2016, Performance-based RSU and Time-based RSU activity was as follows:


	Number of Performance- based RSUs (in thousands)			Weighted Average Grant-Date Fair Value		Number of Time-based RSUs (in thousands)			Weighted Average Grant-Date Fair Value
	Number of Performance- based RSUs (in thousands)			Weighted Average Grant-Date Fair Value		Number of Time-based RSUs (in thousands)			Weighted Average Grant-Date Fair Value
Balance at January 3, 2015		1,782		$	7.01		664		$	8.63
Awarded		320			9.22		213			9.22
Awarded in connection with modification		55			7.90		—			—
Issued		(255	)		6.87		(10	)		8.60
Forfeited		(24	)		8.61		(40	)		8.67

Outstanding at January 2, 2016		1,878		$	7.41		827		$	8.78

Vested or expected to vest at January 2, 2016		1,878		$	7.41		827		$	8.78