For the fourth quarter and full year 2014, we recorded employee stock-based compensation expense (excluding DSUs) of $5.9 and $28.4, respectively (fourth quarter and full year 2013 — $6.6 and $29.2, respectively), and DSU expense of $0.5 and $1.9, respectively (fourth quarter and full year 2013 — $0.6 and $1.9, respectively). The amount of our employee stock-based compensation expense varies from period-to-period. The portion of our expense that relates to performance-based compensation generally varies depending on the level of achievement of pre-determined performance goals and financial targets.
Weighted average number of shares outstanding:
The weighted average number of shares used for the diluted per share calculations include the effect of stock-based compensation awards, if dilutive. For the fourth quarter of 2014, we excluded the effect of 2.0 million such awards as they were anti-dilutive due to the loss reported in the period.
8. PENSION AND NON-PENSION POST-EMPLOYMENT BENEFIT PLANS
We provide pension and non-pension post-employment defined benefit plans for our employees. Our obligations are determined based on actuarial valuations. We recognize actuarial gains or losses arising from pension and non-pension post-employment defined benefit plans in other comprehensive income and we subsequently reclassify the amounts to deficit. For 2014, we recognized $11.9 of net actuarial gains, net of tax (2013 — $7.6 of net actuarial gains, net of tax). We used a measurement date of December 31, 2014 for the accounting valuation of our pension and non-pension post-employment defined benefit plans.
Also see note 9(c).
9. OTHER CHARGES
|
|
Three months ended December 31 |
|
Year ended December 31 | ||||||||||||
|
|
2013 |
|
2014 |
|
2013 |
|
2014 | ||||||||
|
Restructuring (a)................................................................................ |
$ |
17.5 |
|
|
$ |
(2.1) |
|
|
$ |
28.0 |
|
|
$ |
(2.1) |
|
|
Asset impairment (b)......................................................................... |
— |
|
|
40.8 |
|
|
— |
|
|
40.8 |
| ||||
|
Pension obligation settlement loss (c)........................................... |
— |
|
|
— |
|
|
— |
|
|
6.4 |
| ||||
|
Other (d).............................................................................................. |
— |
|
|
(1.3) |
|
|
(24.0) |
|
|
(8.0) |
| ||||
|
|
$ |
17.5 |
|
|
$ |
37.4 |
|
|
$ |
4.0 |
|
|
$ |
37.1 |
|
(a) Restructuring:
Our restructuring charges (recoveries) are comprised of the following:
|
|
Three months ended December 31 |
|
Year ended December 31 | ||||||||||||
|
|
2013 |
|
2014 |
|
2013 |
|
2014 | ||||||||
|
Cash charges (recoveries)................................................................ |
$ |
16.3 |
|
|
$ |
(2.1) |
|
|
$ |
26.1 |
|
|
$ |
(2.0) |
|
|
Non-cash charges (recoveries)....................................................... |
1.2 |
|
|
— |
|
|
1.9 |
|
|
(0.1) |
| ||||
|
|
$ |
17.5 |
|
|
$ |
(2.1) |
|
|
$ |
28.0 |
|
|
$ |
(2.1) |
|
