false
--12-31
FY
2020
2020-12-31
40-F
0001637810
43587554
Yes
false
Yes
FirstService Corp
Common Shares
53000
286000
2730000
1454000
13259000
890000
21293000
35307000
21293000
9874000
25433000
4300000
7539000
-481000
21345000
6500000
4072000
10566000
4664000
1400000
4664000
10056000
0.05
-38694000
-54437000
39415000
23283000
769000
793000
2800000
83310000
-3672000
0.09
0.02
11416000
10745000
0.025
0.15
-45000
P3Y
P4Y
P3Y
P5Y
<div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; margin-left: 46px; min-; min-width: 700px;"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt; white-space: nowrap; font-size: 10pt; font-weight: bold">Supplemental Cash Flows Information, twelve months ended December 31</td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; text-align: right; border-bottom: Black 1pt solid">2020</td> </tr> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; font-size: 10pt"> </td> <td style="font-size: 10pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 85%; font-size: 10pt; text-align: left">Cash paid for amounts included in the measurement of operating lease liabilities</td> <td style="width: 1%; font-size: 10pt"> </td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td> <td style="width: 12%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">37,018</div></td> <td style="white-space: nowrap; width: 1%; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Right-of-use assets obtained in exchange for operating lease obligation</td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left">$</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">50,963</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"> </td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Weighted Average Remaining Operating Lease Term (years)</td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">5 </div></div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt">Weighted Average Discount Rate</td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">3.7</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left">%</td> </tr> </table></div>
45933000
133157000
1656000
180746000
112482000
636555000
308000
749345000
30565000
<div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style=" font-size: 10pt; margin: 0pt 0 0pt 0.5in"><div style="display: inline; font-weight: bold;">Notional value appreciation plans</div></div> <div style=" font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in">Under these plans, subsidiary employees are compensated if the notional value of the subsidiary increases. Awards under these plans generally have a term of up to <div style="display: inline; font-style: italic; font: inherit;">fifteen</div> years and a vesting period of <div style="display: inline; font-style: italic; font: inherit;">five</div> years. The increase in notional value is calculated with reference to growth in earnings relative to a fixed threshold amount plus or minus changes in indebtedness relative to a fixed opening amount. If an award is subject to a vesting condition, then graded attribution is applied to the intrinsic value. The related compensation expense is recorded in selling, general and administrative expenses and the liability is recorded in accrued liabilities.</div></div></div>
5
62900000
84300000
0.44
4664000
9094000
63000
164000
P5Y
P10Y
<div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;"> <tr style="vertical-align: top; text-align: justify"> <td style="width: 0; text-align: right"></td> <td style="width: 0.5in"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-style: italic; font: inherit;">2.</div></div></td> <td style="text-align: justify"><div style="display: inline; font-weight: bold;">Risks and uncertainties</div></td> </tr> </table> <div style=" font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in"> </div> <div style=" font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in">Currently, <div style="display: inline; font-style: italic; font: inherit;">one</div> of the most significant risks and uncertainties is the potential adverse effect of the current pandemic of the novel coronavirus, or COVID-<div style="display: inline; font-style: italic; font: inherit;">19.</div> The COVID-<div style="display: inline; font-style: italic; font: inherit;">19</div> pandemic in North America has had an impact on most of the Company's operations, particularly its service lines tied to home improvement. All of its businesses have been designated essential services in most of their geographic regions. The various “stay-at-home” and social distancing measures continue to impact the Company's ability to operate on the premises of its residential and commercial customers. Although many regions where the Company operates have re-opened, it is challenging to predict the financial performance in upcoming reporting periods with reasonable accuracy due to the lack of visibility around the duration and severity of the crisis and its dynamic changes.</div> <div style=" font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in"> </div> <div style=" font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in">Given the uncertainties surrounding the impact of the COVID-<div style="display: inline; font-style: italic; font: inherit;">19</div> pandemic, the Company took certain actions during the year to preserve liquidity, manage cash flow and strengthen its financial flexibility. Such actions included, but were <div style="display: inline; font-style: italic; font: inherit;">not</div> limited to, expense containment initiatives in areas including labour costs and other operating expenses, capital expenditures reductions, and management of its working capital requirements, as well as completing a private placement for <div style="display: inline; font-style: italic; font: inherit;">$150,008</div> in the <div style="display: inline; font-style: italic; font: inherit;">second</div> quarter of the current year. Refer to note <div style="display: inline; font-style: italic; font: inherit;">14</div> for more detail.</div></div>
<div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; margin-left: 46px; min-; min-width: 700px;"> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; font-size: 10pt"> </td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2020</td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; text-align: right; border-bottom: Black 1pt solid">2019</td> </tr> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; font-size: 10pt"> </td> <td style="font-size: 10pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; text-align: right"> </td> <td style="font-size: 10pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold; text-align: left">Franchisor operations</td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"> </td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"> </td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="width: 70%; font-size: 10pt">Revenues</td> <td style="width: 1%; font-size: 10pt; font-weight: bold"> </td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">$</td> <td style="width: 12%; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">136,746</div></td> <td style="white-space: nowrap; width: 1%; font-size: 10pt; font-weight: bold; text-align: left"> </td> <td style="width: 1%; font-size: 10pt"> </td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td> <td style="width: 12%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">148,607</div></td> <td style="white-space: nowrap; width: 1%; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Operating earnings</td> <td style="font-size: 10pt; font-weight: bold"> </td> <td style="font-size: 10pt; font-weight: bold; text-align: left"> </td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">38,340</div></td> <td style="white-space: nowrap; font-size: 10pt; font-weight: bold; text-align: left"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">33,999</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Initial franchise fee revenues</td> <td style="font-size: 10pt; font-weight: bold"> </td> <td style="font-size: 10pt; font-weight: bold; text-align: left"> </td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">4,294</div></td> <td style="white-space: nowrap; font-size: 10pt; font-weight: bold; text-align: left"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">4,956</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Depreciation and amortization</td> <td style="font-size: 10pt; font-weight: bold"> </td> <td style="font-size: 10pt; font-weight: bold; text-align: left"> </td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">8,569</div></td> <td style="white-space: nowrap; font-size: 10pt; font-weight: bold; text-align: left"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">6,959</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Total assets</td> <td style="font-size: 10pt; font-weight: bold"> </td> <td style="font-size: 10pt; font-weight: bold; text-align: left"> </td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">155,319</div></td> <td style="white-space: nowrap; font-size: 10pt; font-weight: bold; text-align: left"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">140,439</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"> </td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"> </td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; font-weight: bold; text-align: left">Cash payments made during the period</td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"> </td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"> </td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Income taxes</td> <td style="font-size: 10pt; font-weight: bold"> </td> <td style="font-size: 10pt; font-weight: bold; text-align: left">$</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">49,031</div></td> <td style="white-space: nowrap; font-size: 10pt; font-weight: bold; text-align: left"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left">$</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">31,562</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt">Interest</td> <td style="font-size: 10pt; font-weight: bold"> </td> <td style="font-size: 10pt; font-weight: bold; text-align: left"> </td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">22,305</div></td> <td style="white-space: nowrap; font-size: 10pt; font-weight: bold; text-align: left"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">29,772</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"> </td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"> </td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; font-weight: bold; text-align: left">Non-cash financing activities</td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"> </td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"> </td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Increases in finance lease obligations</td> <td style="font-size: 10pt; font-weight: bold"> </td> <td style="font-size: 10pt; font-weight: bold; text-align: left">$</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">3,898</div></td> <td style="white-space: nowrap; font-size: 10pt; font-weight: bold; text-align: left"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left">$</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">9,928</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> </tr> </table></div>
<div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; margin-left: 46px; min-; min-width: 700px;"> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; font-size: 10pt"> </td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2020</td> </tr> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; font-size: 10pt"> </td> <td style="font-size: 10pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 85%; font-size: 10pt; text-align: left">Number of options exercised</td> <td style="width: 1%; font-size: 10pt; font-weight: bold"> </td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"> </td> <td style="width: 12%; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">294,238</div></td> <td style="white-space: nowrap; width: 1%; font-size: 10pt; font-weight: bold; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"> </td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt">Aggregate fair value</td> <td style="font-size: 10pt; font-weight: bold"> </td> <td style="font-size: 10pt; font-weight: bold; text-align: left">$</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">33,734</div></td> <td style="white-space: nowrap; font-size: 10pt; font-weight: bold; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; padding-bottom: 1pt">Intrinsic value</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">22,224</div></td> <td style="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left; padding-bottom: 2.5pt">Amount of cash received</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-size: 10pt; font-weight: bold; text-align: left"> </td> <td style="border-bottom: Black 2.5pt double; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">11,510</div></td> <td style="white-space: nowrap; border-bottom: Black 2.5pt double; font-size: 10pt; font-weight: bold; text-align: left"> </td> </tr> </table></div>
P20Y
P6Y
P20Y
98500000
76226000
<div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; margin-left: 46px; min-; min-width: 700px;"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt; white-space: nowrap; font-size: 10pt; font-weight: bold">(In thousands)</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2020</td> </tr> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; font-size: 10pt"> </td> <td style="font-size: 10pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; text-align: right"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 85%; font-size: 10pt; text-align: left">Allowance for doubtful accounts, December 31, 2019</td> <td style="width: 1%; font-size: 10pt"> </td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td> <td style="width: 12%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">13,136</div></td> <td style="white-space: nowrap; width: 1%; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Bad debt expense</td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">11,624</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Write-offs to accounts receivable</td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(9,446</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Recoveries to accounts receivable</td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">169</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Adjustment to opening retained earnings</td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">53</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; padding-bottom: 1pt">Other</td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">286</div></td> <td style="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Allowance for doubtful accounts, December 31, 2020</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">$</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">15,822</div></td> <td style="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"> </td> </tr> </table></div>
418890000
393730000
7892000
251192000
165444000
4144000
59775000
68834000
99427000
29520000
261700000
5136000
48308000
54806000
83371000
24327000
215948000
<div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;"> <tr style="vertical-align: top; text-align: justify"> <td style="width: 0; text-align: right"></td> <td style="width: 0.5in"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-style: italic; font: inherit;">18.</div></div></div></td> <td style="text-align: justify"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-weight: bold;">Other supplemental information</div></div></td> </tr> </table> <div style=" margin: 0"> </div> <div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; margin-left: 46px; min-width: 700px;"> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; font-size: 10pt"> </td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2020</td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; text-align: right; border-bottom: Black 1pt solid">2019</td> </tr> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; font-size: 10pt"> </td> <td style="font-size: 10pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; text-align: right"> </td> <td style="font-size: 10pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold; text-align: left">Franchisor operations</td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"> </td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"> </td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="width: 70%; font-size: 10pt">Revenues</td> <td style="width: 1%; font-size: 10pt; font-weight: bold"> </td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">$</td> <td style="width: 12%; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">136,746</div></td> <td style="white-space: nowrap; width: 1%; font-size: 10pt; font-weight: bold; text-align: left"> </td> <td style="width: 1%; font-size: 10pt"> </td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td> <td style="width: 12%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">148,607</div></td> <td style="white-space: nowrap; width: 1%; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Operating earnings</td> <td style="font-size: 10pt; font-weight: bold"> </td> <td style="font-size: 10pt; font-weight: bold; text-align: left"> </td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">38,340</div></td> <td style="white-space: nowrap; font-size: 10pt; font-weight: bold; text-align: left"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">33,999</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Initial franchise fee revenues</td> <td style="font-size: 10pt; font-weight: bold"> </td> <td style="font-size: 10pt; font-weight: bold; text-align: left"> </td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">4,294</div></td> <td style="white-space: nowrap; font-size: 10pt; font-weight: bold; text-align: left"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">4,956</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Depreciation and amortization</td> <td style="font-size: 10pt; font-weight: bold"> </td> <td style="font-size: 10pt; font-weight: bold; text-align: left"> </td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">8,569</div></td> <td style="white-space: nowrap; font-size: 10pt; font-weight: bold; text-align: left"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">6,959</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Total assets</td> <td style="font-size: 10pt; font-weight: bold"> </td> <td style="font-size: 10pt; font-weight: bold; text-align: left"> </td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">155,319</div></td> <td style="white-space: nowrap; font-size: 10pt; font-weight: bold; text-align: left"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">140,439</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"> </td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"> </td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; font-weight: bold; text-align: left">Cash payments made during the period</td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"> </td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"> </td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Income taxes</td> <td style="font-size: 10pt; font-weight: bold"> </td> <td style="font-size: 10pt; font-weight: bold; text-align: left">$</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">49,031</div></td> <td style="white-space: nowrap; font-size: 10pt; font-weight: bold; text-align: left"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left">$</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">31,562</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt">Interest</td> <td style="font-size: 10pt; font-weight: bold"> </td> <td style="font-size: 10pt; font-weight: bold; text-align: left"> </td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">22,305</div></td> <td style="white-space: nowrap; font-size: 10pt; font-weight: bold; text-align: left"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">29,772</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"> </td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"> </td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; font-weight: bold; text-align: left">Non-cash financing activities</td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"> </td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"> </td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Increases in finance lease obligations</td> <td style="font-size: 10pt; font-weight: bold"> </td> <td style="font-size: 10pt; font-weight: bold; text-align: left">$</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">3,898</div></td> <td style="white-space: nowrap; font-size: 10pt; font-weight: bold; text-align: left"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left">$</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">9,928</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> </tr> </table> </div></div>
-10000
-10000
-28000
-28000
8126000
8126000
11628000
11628000
11628000
8126000
15822000
13136000
169000
9446000
46464000
38698000
155319000
140439000
662616000
1527705000
6219000
2196540000
625310000
1323024000
7135000
1955469000
819316000
668136000
1377224000
1287333000
<div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; margin-left: 46px; min-; min-width: 700px;"> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; font-size: 10pt"> </td> <td style="font-size: 10pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt"> </td> <td style="font-size: 10pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; text-align: right"> </td> </tr> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; font-size: 10pt"> </td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; text-align: right; border-bottom: Black 1pt solid">Revenues</td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; text-align: right; border-bottom: Black 1pt solid">Net earnings</td> </tr> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; font-size: 10pt"> </td> <td style="font-size: 10pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; text-align: right"> </td> <td style="font-size: 10pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 70%; font-size: 10pt; text-align: left">Actual from acquired entities for 2020</td> <td style="width: 1%; font-size: 10pt"> </td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td> <td style="width: 12%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">37,790</div></td> <td style="white-space: nowrap; width: 1%; font-size: 10pt; text-align: left"> </td> <td style="width: 1%; font-size: 10pt"> </td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td> <td style="width: 12%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">3,382</div></td> <td style="white-space: nowrap; width: 1%; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Supplemental pro forma for 2020 (unaudited)</td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">2,840,173</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">116,708</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Supplemental pro forma for 2019 (unaudited)</td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">2,805,492</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(194,179</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left">)</td> </tr> </table></div>
34661000
6911000
116708000
-194179000
2840173000
2805492000
4561000
8042000
111818000
83794000
-261000
-503000
-962000
26219000
22286000
24128000
14423000
24128000
4243000
4243000
6269000
0.08
0.1
19885000
19885000
8154000
<div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;"> <tr style="vertical-align: top"> <td style="width: 0"></td> <td style="width: 0.5in"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-style: italic; font: inherit;">5.</div></div></td> <td><div style="display: inline; font-weight: bold;">Acquisitions</div></td> </tr> </table> <div style=" font-size: 10pt; margin: 0pt 0 0pt 0.5in"><div style="display: inline; font-style: italic;"> </div></div> <div style=" font-size: 10pt; margin: 0pt 0 0pt 0.5in"><div style="display: inline; font-style: italic;"><div style="display: inline; font-style: italic; font: inherit;">2020</div> acquisitions:</div></div> <div style=" font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in">The Company acquired controlling interests in <div style="display: inline; font-style: italic; font: inherit;">six</div> businesses, <div style="display: inline; font-style: italic; font: inherit;">two</div> in the FirstService Residential segment and <div style="display: inline; font-style: italic; font: inherit;">four</div> in the FirstService Brands segment. In the FirstService Residential segment, the Company acquired regional firms operating in New York and North Carolina. In the FirstService Brands segment, the Company acquired <div style="display: inline; font-style: italic; font: inherit;">two</div> fire protection companies operating in Kansas City and Virginia, respectively, as well <div style="display: inline; font-style: italic; font: inherit;">two</div> independent restoration companies located in Alberta and in the Mid-Atlantic region of the United States.</div> <div style=" font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in"> </div> <div style=" font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in">Details of these acquisitions are as follows:</div> <div style=" margin: 0pt 0 0pt 0.5in; font-size: 10pt; text-align: justify"> </div> <div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; margin-left: 46px; min-width: 700px;"> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; font-size: 10pt"> </td> <td style="font-size: 10pt; font-weight: bold"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; font-weight: bold; text-align: right">Aggregate</td> </tr> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; font-size: 10pt"> </td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">Acquisitions</td> </tr> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; font-size: 10pt"> </td> <td style="font-size: 10pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; text-align: right"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 85%; font-size: 10pt; text-align: left">Current assets</td> <td style="width: 1%; font-size: 10pt; font-weight: bold"> </td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">$</td> <td style="width: 12%; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">36,281</div></td> <td style="white-space: nowrap; width: 1%; font-size: 10pt; font-weight: bold; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Non-current assets</td> <td style="font-size: 10pt; font-weight: bold"> </td> <td style="font-size: 10pt; font-weight: bold; text-align: left"> </td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">7,277</div></td> <td style="white-space: nowrap; font-size: 10pt; font-weight: bold; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Current liabilities</td> <td style="font-size: 10pt; font-weight: bold"> </td> <td style="font-size: 10pt; font-weight: bold; text-align: left"> </td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(21,491</div></td> <td style="white-space: nowrap; font-size: 10pt; font-weight: bold; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Non-current liabilities</td> <td style="font-size: 10pt; font-weight: bold"> </td> <td style="font-size: 10pt; font-weight: bold; text-align: left"> </td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(1,350</div></td> <td style="white-space: nowrap; font-size: 10pt; font-weight: bold; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Deferred tax liabilities</td> <td style="font-size: 10pt; font-weight: bold"> </td> <td style="font-size: 10pt; font-weight: bold; text-align: left"> </td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(2,035</div></td> <td style="white-space: nowrap; font-size: 10pt; font-weight: bold; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Redeemable non-controlling interest</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(21,293</div></td> <td style="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">$</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(2,611</div></td> <td style="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"> </td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Cash consideration, net of cash acquired of $7,252</td> <td style="font-size: 10pt; font-weight: bold"> </td> <td style="font-size: 10pt; font-weight: bold; text-align: left">$</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(98,559</div></td> <td style="white-space: nowrap; font-size: 10pt; font-weight: bold; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Acquisition date fair value of contingent consideration</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(13,259</div></td> <td style="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Total purchase consideration</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">$</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(111,818</div></td> <td style="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"> </td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Acquired intangible assets</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">$</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">57,882</div></td> <td style="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; padding-bottom: 1pt">Goodwill</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">$</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">56,547</div></td> <td style="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"> </td> </tr> </table> </div> <div style=" font-size: 10pt; margin: 0pt 0"> </div> <div style=" font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in">“Acquisition-related items” included both transaction costs and contingent acquisition consideration fair value adjustments. Acquisition-related transaction costs for the year ended <div style="display: inline; font-style: italic; font: inherit;"> December 31, 2020 </div>totaled <div style="display: inline; font-style: italic; font: inherit;">$4,561</div> (<div style="display: inline; font-style: italic; font: inherit;">2019</div> - <div style="display: inline; font-style: italic; font: inherit;">$8,042</div>). Also included in acquisition-related items was a reversal of <div style="display: inline; font-style: italic; font: inherit;">$261</div> related to contingent acquisition consideration fair value adjustments (<div style="display: inline; font-style: italic; font: inherit;">2019</div> – <div style="display: inline; font-style: italic; font: inherit;">$503</div>).</div> <div style=" font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in"> </div> <div style=" font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in">The acquisitions referred to above were accounted for by the purchase method of accounting for business combinations. Accordingly, the accompanying consolidated statements of earnings do <div style="display: inline; font-style: italic; font: inherit;">not</div> include any revenues or expenses related to these acquisitions prior to their respective closing dates. The consideration for the acquisitions during the year ended <div style="display: inline; font-style: italic; font: inherit;"> December 31, 2020 </div>was financed from borrowings under the Credit Agreement and cash on hand.</div> <div style=" font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in"> </div> <div style=" font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in">The amount of revenues and earnings contributed from the date of acquisition and included in the Company's consolidated results for the year ended <div style="display: inline; font-style: italic; font: inherit;"> December 31, 2020, </div>and the supplemental pro forma revenues and earnings of the combined entity had the acquisition date been <div style="display: inline; font-style: italic; font: inherit;"> January </div><div style="display: inline; font-style: italic; font: inherit;">1,</div> <div style="display: inline; font-style: italic; font: inherit;">2019,</div> are as follows:</div> <div style=" margin: 0pt 0 0pt 0.5in; font-size: 10pt; text-align: justify"> </div> <!-- Field: /Page --> <div style=" margin: 0pt 0 0pt 0.5in; font-size: 10pt; text-align: justify"></div> <div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; margin-left: 46px; min-width: 700px;"> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; font-size: 10pt"> </td> <td style="font-size: 10pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt"> </td> <td style="font-size: 10pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; text-align: right"> </td> </tr> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; font-size: 10pt"> </td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; text-align: right; border-bottom: Black 1pt solid">Revenues</td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; text-align: right; border-bottom: Black 1pt solid">Net earnings</td> </tr> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; font-size: 10pt"> </td> <td style="font-size: 10pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; text-align: right"> </td> <td style="font-size: 10pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 70%; font-size: 10pt; text-align: left">Actual from acquired entities for 2020</td> <td style="width: 1%; font-size: 10pt"> </td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td> <td style="width: 12%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">37,790</div></td> <td style="white-space: nowrap; width: 1%; font-size: 10pt; text-align: left"> </td> <td style="width: 1%; font-size: 10pt"> </td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td> <td style="width: 12%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">3,382</div></td> <td style="white-space: nowrap; width: 1%; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Supplemental pro forma for 2020 (unaudited)</td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">2,840,173</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">116,708</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Supplemental pro forma for 2019 (unaudited)</td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">2,805,492</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(194,179</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left">)</td> </tr> </table> </div> <div style=" font-size: 10pt; margin: 0pt 0"> </div> <div style=" font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in">Supplemental pro forma results were adjusted for non-recurring items.</div> <div style=" font-size: 10pt; margin: 0pt 0"> </div> <div style=" font-size: 10pt; margin: 0pt 0 0pt 0.5in"><div style="display: inline; font-style: italic;"><div style="display: inline; font-style: italic; font: inherit;">2019</div> acquisitions:</div></div> <div style=" font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in">The Company acquired controlling interests in <div style="display: inline; font-style: italic; font: inherit;">fifteen</div> businesses, including <div style="display: inline; font-style: italic; font: inherit;">three</div> in the FirstService Residential segment and <div style="display: inline; font-style: italic; font: inherit;">twelve</div> in the FirstService Brands segment.</div> <div style=" font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in"> </div> <div style=" font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in">In the FirstService Brands segment, the Company acquired Global Restoration (aka Bellwether FOS Holdco, Inc.), a leading commercial and large loss firm headquartered in Colorado and with operations across the U.S. and Canada.</div> <div style=" font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in"> </div> <div style=" font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in">Details of the final fair values of assets acquired and liabilities assumed for the Company's significant Global Restoration acquisition, which closed in <div style="display: inline; font-style: italic; font: inherit;"> June 2019 </div>are as follows:</div> <div style=" font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in"> </div> <div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; margin-left: 46px; min-width: 700px;"> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; font-size: 10pt"> </td> <td style="font-size: 10pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; text-align: right">Global</td> </tr> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; font-size: 10pt"> </td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; text-align: right; border-bottom: Black 1pt solid">Restoration</td> </tr> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; font-size: 10pt"> </td> <td style="font-size: 10pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; text-align: right"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 85%; font-size: 10pt; text-align: left">Accounts receivable</td> <td style="width: 1%; font-size: 10pt"> </td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td> <td style="width: 12%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">118,678</div></td> <td style="white-space: nowrap; width: 1%; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt">Inventories</td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">31,677</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Prepaid expenses and other current assets</td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">3,240</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Fixed assets</td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">22,574</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Operating lease right-of-use assets</td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">10,566</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Accounts payable</td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(24,337</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Accrued liabilities</td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(21,345</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Unearned revenues</td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(12,779</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Operating lease liabilities - current</td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(6,500</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Other current liabilities</td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(649</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Operating lease liabilities - non-current</td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(4,072</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Long-term debt - non-current</td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(5,711</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Other liabilities</td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(615</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Deferred tax liabilities</td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(51,590</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Redeemable non-controlling interests</td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(25,433</div></td> <td style="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">$</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">33,704</div></td> <td style="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"> </td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Cash consideration, net of cash acquired of $6,518</td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left">$</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(506,680</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"> </td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt">Backlog</td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left">$</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">7,130</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Customer relationships</td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">213,150</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Trademarks and trade names</td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,850</div></td> <td style="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; padding-bottom: 1pt">Goodwill</td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">$</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">250,846</div></td> <td style="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td> </tr> </table> </div> <div style=" font-size: 10pt; margin: 0pt 0"> </div> <div style=" font-size: 10pt; margin: 0pt 0 0pt 0.5in"><div style="display: inline; font-style: italic;">Other <div style="display: inline; font-style: italic; font: inherit;">2019</div> acquisitions:</div></div> <div style=" font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in">In the FirstService Residential segment, the Company acquired controlling interests in regional firms operating in Chicago and western Canada.</div> <div style=" font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in"> </div> <div style=" font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in">Within the FirstService Brands segment, in addition to Global Restoration, the Company acquired <div style="display: inline; font-style: italic; font: inherit;">five</div> independent restoration companies, operating in Ohio, California, Missouri, Illinois and Quebec, as well as a Paul Davis Restoration franchise located in the mid-western U.S. The Company also acquired <div style="display: inline; font-style: italic; font: inherit;">three</div> California Closets franchises operating in Maryland, New Jersey, and Arizona and <div style="display: inline; font-style: italic; font: inherit;">two</div> fire protection operations based in Houston and Atlanta.</div> <div style=" font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in"> </div> <!-- Field: /Page --> <div style=" margin: 0pt 0 0pt 0.5in; font-size: 10pt; text-align: justify">Details of the other <div style="display: inline; font-style: italic; font: inherit;">2019</div> acquisitions, in aggregate, are as follows:</div> <div style=" margin: 0pt 0 0pt 0.5in; font-size: 10pt; text-align: justify"> </div> <div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; margin-left: 46px; min-width: 700px;"> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; font-size: 10pt"> </td> <td style="font-size: 10pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; text-align: right">Aggregate</td> </tr> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; font-size: 10pt"> </td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; text-align: right; border-bottom: Black 1pt solid">Acquisitions</td> </tr> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; font-size: 10pt"> </td> <td style="font-size: 10pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; text-align: right"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 85%; font-size: 10pt; text-align: left">Current assets</td> <td style="width: 1%; font-size: 10pt"> </td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td> <td style="width: 12%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">34,454</div></td> <td style="white-space: nowrap; width: 1%; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Non-current assets</td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">8,175</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Current liabilities</td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(29,059</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Non-current liabilities</td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(1,574</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Deferred tax liabilities</td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(6,328</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Redeemable non-controlling interest</td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(9,874</div></td> <td style="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">$</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(4,206</div></td> <td style="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"> </td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Cash consideration, net of cash acquired of $4,964</td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left">$</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(73,183</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Acquisition date fair value of contingent consideration</td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(10,611</div></td> <td style="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Total purchase consideration</td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">$</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(83,794</div></td> <td style="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"> </td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt">Backlog</td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left">$</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">4,240</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Customer relationships</td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">13,168</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Trademarks and trade names</td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">567</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Management contracts and other</td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">11,644</div></td> <td style="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; padding-bottom: 1pt">Goodwill</td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">$</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">58,381</div></td> <td style="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td> </tr> </table> </div> <div style=" font-size: 10pt; margin: 0pt 0"> </div> <div style=" font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in">In all years presented, the fair values of non-controlling interests for all acquisitions were determined using an income approach with reference to a discounted cash flow model using the same assumptions implied in determining the purchase consideration.</div> <div style=" font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in"> </div> <div style=" font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in">The purchase price allocations of all acquisitions resulted in the recognition of goodwill. The primary factors contributing to goodwill are assembled workforces, synergies with existing operations and future growth prospects. For certain acquisitions completed during the year ended <div style="display: inline; font-style: italic; font: inherit;"> December 31, 2020, </div>goodwill in the amount of <div style="display: inline; font-style: italic; font: inherit;">$34,661</div> is deductible for income tax purposes (<div style="display: inline; font-style: italic; font: inherit;">2019</div> - <div style="display: inline; font-style: italic; font: inherit;">$6,911</div>).</div> <div style=" font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in"> </div> <div style=" font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in">The determination of fair values of assets acquired and liabilities assumed in business combinations required the use of estimates and judgement by management, particularly in determining fair values of intangible assets acquired. Intangible assets acquired at fair value on the date of acquisition are recorded using the income approach on an individual asset basis. The assumptions used in estimating the fair values of intangible assets include future EBITDA margins, revenue growth rates, expected attrition rates of acquired customer relationships and the discount rates.</div> <div style=" font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in"> </div> <div style=" font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in">The Company typically structures its business acquisitions to include contingent consideration. Vendors, at the time of acquisition, are entitled to receive a contingent consideration payment if the acquired businesses achieve specified earnings levels during the <div style="display: inline; font-style: italic; font: inherit;">one</div>- to <div style="display: inline; font-style: italic; font: inherit;">three</div>-year periods following the dates of acquisition. The ultimate amount of payment is determined based on a formula, the key inputs to which are (i) a contractually agreed maximum payment; (ii) a contractually specified earnings level and (iii) the actual earnings for the contingency period. If the acquired business does <div style="display: inline; font-style: italic; font: inherit;">not</div> achieve the specified earnings level, the maximum payment is reduced for any shortfall, potentially to <div style="display: inline; font-style: italic; font: inherit;">nil.</div></div> <div style=" font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in"> </div> <div style=" font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in"> </div> <div style=" font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in">The fair value of the contingent consideration liability recorded on the consolidated balance sheet as at <div style="display: inline; font-style: italic; font: inherit;"> December 31, 2020 </div>was <div style="display: inline; font-style: italic; font: inherit;">$24,128</div> (see note <div style="display: inline; font-style: italic; font: inherit;">19</div>). The estimated range of outcomes (undiscounted) for these contingent consideration arrangements is determined based on the formula price and the likelihood of achieving specified earnings levels over the contingency period, and ranges from <div style="display: inline; font-style: italic; font: inherit;">$22,286</div> to a maximum of <div style="display: inline; font-style: italic; font: inherit;">$26,219.</div> These contingencies will expire during the period extending to <div style="display: inline; font-style: italic; font: inherit;"> September 2023. </div>During the year ended <div style="display: inline; font-style: italic; font: inherit;"> December 31, 2020, </div><div style="display: inline; font-style: italic; font: inherit;">$4,664</div> was paid with reference to such contingent consideration (<div style="display: inline; font-style: italic; font: inherit;">2019</div> - <div style="display: inline; font-style: italic; font: inherit;">$10,056</div>).</div></div>
3382000
37790000
36281000
34454000
3240000
118678000
21491000
29059000
24337000
12779000
649000
2035000
6328000
51590000
4240000
13168000
567000
11644000
57882000
7130000
213150000
1850000
31677000
-2611000
-4206000
33704000
7277000
8175000
1350000
1574000
5711000
615000
22574000
<div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style=" font-size: 10pt; margin: 0pt 0 0pt 0.5in"><div style="display: inline; font-weight: bold;">Business combinations</div></div> <div style=" font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in">All business combinations are accounted for using the purchase method of accounting. Transaction costs are expensed as incurred.</div> <div style=" font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in"> </div> <div style=" font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in">The determination of fair values of assets and liabilities assumed in business combinations requires the use of estimates and judgement by management, particularly in determining fair values of intangible assets acquired.</div> <div style=" font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in"> </div> <div style=" font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in">The fair value of the contingent consideration is classified as a financial liability and is recorded on the balance sheet at the acquisition date and is re-measured at fair value at the end of each period until the end of the contingency period, with fair value adjustments recognized in earnings.</div></div></div>
<div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;"> <tr style="vertical-align: top"> <td style="width: 0"></td> <td style="width: 0.5in"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-style: italic; font: inherit;">1.</div></div></td> <td><div style="display: inline; font-weight: bold;">Description of the business</div></td> </tr> </table> <div style=" font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in"> </div> <div style=" font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in">FirstService Corporation (the “Company”) is a North American provider of residential property management and other essential property services to residential and commercial customers. The Company's operations are conducted in <div style="display: inline; font-style: italic; font: inherit;">two</div> segments: FirstService Residential and FirstService Brands. The segments are grouped with reference to the nature of services provided and the types of clients that use those services.</div> <div style=" font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in"> </div> <div style=" font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in">FirstService Residential is a full-service property manager and in many markets provides a full range of ancillary services primarily in the following areas: (i) on-site staffing, including building engineering and maintenance, full-service amenity management, security, concierge and front desk personnel; (ii) proprietary banking and insurance products; and (iii) energy conservation and management solutions.</div> <div style=" font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in"> </div> <div style=" font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in">FirstService Brands provides a range of essential property services to residential and commercial customers in North America through franchise networks and company-owned locations. The principal brands in this division include Paul Davis Restoration, Global Restoration, California Closets, CertaPro Painters, Pillar to Post Home Inspectors, Floor Coverings International, and Century Fire Protection.</div></div>
3898000
9928000
1888000
1717000
0
7157000
6711000
7252000
4964000
6518000
184295000
121198000
<div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style=" font-size: 10pt; margin: 0pt 0 0pt 0.5in"><div style="display: inline; font-weight: bold;">Cash and cash equivalents</div></div> <div style=" font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in">Cash equivalents consist of short-term interest-bearing securities, which are readily convertible into cash and have original maturities at the date of purchase of <div style="display: inline; font-style: italic; font: inherit;">three</div> months or less.</div></div></div>
<div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style=" font-size: 10pt; margin: 0pt 0 0pt 0.5in"><div style="display: inline; font-weight: bold;">Restricted cash</div></div> <div style=" font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in">Restricted cash consists of cash over which the Company has legal ownership but is restricted as to its availability or intended use, including funds held on behalf of clients and franchisees.</div> <div style=" font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in"> </div> <div style=" font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in">The Company's restricted cash balance consists primarily of cash related to our marketing funds in the FirstService Brands segment, cash held for certain employees' benefit plans, and cash held for insurance broker commissions owed in our FirstService Residential segment. This update has been applied retrospectively.</div></div></div>
134291000
79844000
208938000
74647000
54447000
600000
<div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;"> <tr style="vertical-align: top"> <td style="width: 0"></td> <td style="width: 0.5in"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-style: italic; font: inherit;">20.</div></div></td> <td><div style="display: inline; font-weight: bold;">Contingencies</div></td> </tr> </table> <div style=" font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in"> </div> <div style=" font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in">In the normal course of operations, the Company is subject to routine claims and litigation incidental to its business. Litigation currently pending or threatened against the Company includes disputes with former employees and commercial liability claims related to services provided by the Company. The Company believes resolution of such proceedings, combined with amounts set aside, will <div style="display: inline; font-style: italic; font: inherit;">not</div> have a material impact on the Company's financial condition or the results of operations.</div> <div style=" font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in"> </div> <div style=" font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in">In <div style="display: inline; font-style: italic; font: inherit;"> May 2019, </div>the Company settled the restated management services agreement (“MSA”), including the long-term incentive arrangement (the “LTIA”), between the Company and Jay S. Hennick, the Company's Founder and Chairman. As part of the settlement, the Multiple Voting Shares of the Company were converted into Subordinate Voting Shares on a <div style="display: inline; font-style: italic; font: inherit;">one</div>-for-<div style="display: inline; font-style: italic; font: inherit;">one</div> basis for <div style="display: inline; font-style: italic; font: inherit;">no</div> consideration, thereby eliminating the Company's dual class share structure. For consideration of <div style="display: inline; font-style: italic; font: inherit;">$314,379,</div> which is the purchase price determined with reference to the LTIA formula provided in the restated MSA, FirstService acquired all of the shares in the company which indirectly held the MSA. The Company, under the terms of the transaction: (a) paid <div style="display: inline; font-style: italic; font: inherit;">$62,900</div> (approximately <div style="display: inline; font-style: italic; font: inherit;">C$84,300</div>) in cash; and issued a total of <div style="display: inline; font-style: italic; font: inherit;">2,918,860</div> Subordinate Voting Shares. Subsequent to the completion of the transaction, the MSA was terminated, thereby eliminating the LTIA and all future fees and other entitlements owing thereafter, and the Company filed an amendment to its articles that re-classified its Subordinate Voting Shares as Common Shares. The settlement of the LTIA was considered a modification of a share-based payment arrangement, which was accounted for as compensation expense in the Company's Consolidated Statements of Earnings. The net cash impact was included in operating activities in the Company's Consolidated Statements of Cash Flows.</div></div>
41495957
35980047
43587554
770032000
89863000
-248951000
22331000
23979000
112194000
-224972000
<div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style=" font-size: 10pt; margin: 0pt 0 0pt 0.5in"><div style="display: inline; font-weight: bold;">Basis of consolidation</div></div> <div style=" font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in">The consolidated financial statements include the accounts of the Company and its majority-owned subsidiaries where the Company is the primary beneficiary. Where the Company does <div style="display: inline; font-style: italic; font: inherit;">not</div> have a controlling interest but has the ability to exert significant influence, the equity method is used. Inter-company transactions and accounts are eliminated on consolidation.</div></div></div>
<div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style=" font-size: 10pt; margin: 0pt 0 0pt 0.5in"><div style="display: inline; font-weight: bold;">Redeemable non-controlling interests</div></div> <div style=" font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in">Redeemable non-controlling interests (“RNCI”) are recorded at the greater of (i) the redemption amount or (ii) the amount initially recorded as RNCI at the date of inception of the minority equity position. This amount is recorded in the “mezzanine” section of the balance sheet, outside of shareholders' equity. Changes in the RNCI amount are recognized immediately as they occur.</div></div></div>
13259000
10611000
90131000
74100000
13939000
12593000
4012000
4462000
1871798000
1634097000
49759000
33978000
3300000
369000
53059000
34347000
0.0025
0.025
0.0025
0.025
425750000
0.034
0.044
0.0384
P5Y
P10Y
0.034
<div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style=" font-size: 10pt; margin: 0pt 0 0pt 0.5in"><div style="display: inline; font-weight: bold;">Financing fees</div></div> <div style=" font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in">Financing fees related to our amended and restated credit agreement (the “Credit Agreement”) with a syndicate of lenders and our <div style="display: inline; font-style: italic; font: inherit;">$150,000</div> of senior secured notes (the “Senior Notes”) are deferred and amortized to interest expense using the effective interest method.</div></div></div>
314379000
314379000
-18544000
-5580000
1350000
-1620000
2048000
2836000
-17194000
-7200000
85950000
88141000
41345000
58239000
-18054000
-8988000
47256000
33704000
1441000
2788000
1364000
4430000
13733000
18615000
749000
5535000
3860000
865000
3024000
603000
965000
39297000
55402000
1505000
1276000
83676000
86072000
51918000
40859000
8569000
6959000
26846000
71442000
94000
98382000
25628000
53886000
43000
79557000
2101000
2101000
100000000
1
<div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; margin-left: 46px; min-; min-width: 700px;"> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; font-size: 10pt"> </td> <td style="font-size: 10pt; font-weight: bold"> </td> <td colspan="7" style="white-space: nowrap; font-size: 10pt; font-weight: bold; text-align: center">Year ended</td> </tr> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; font-size: 10pt"> </td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="7" style="white-space: nowrap; font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">December 31</td> </tr> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; font-size: 10pt"> </td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2020</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2019</td> </tr> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; font-size: 10pt; font-weight: bold">Revenues</td> <td style="font-size: 10pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt"> </td> <td style="font-size: 10pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt"> </td> </tr> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; font-size: 10pt"> </td> <td style="font-size: 10pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt"> </td> <td style="font-size: 10pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 70%; font-size: 10pt; text-align: left">FirstService Residential</td> <td style="width: 1%; font-size: 10pt"> </td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td> <td style="width: 12%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,415,121</div></td> <td style="white-space: nowrap; width: 1%; font-size: 10pt; text-align: left"> </td> <td style="width: 1%; font-size: 10pt"> </td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td> <td style="width: 12%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,411,998</div></td> <td style="white-space: nowrap; width: 1%; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">FirstService Brands company-owned operations</td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,216,254</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">836,637</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">FirstService Brands franchisor</td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">136,746</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">153,826</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">FirstService Brands franchise fee</td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">4,294</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">4,949</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> </tr> </table></div>
<div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;"> <tr style="vertical-align: top"> <td style="width: 0"></td> <td style="width: 0.5in"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-style: italic; font: inherit;">15.</div></div></td> <td><div style="display: inline; font-weight: bold;">Stock-based compensation</div></td> </tr> </table> <div style=" font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in"> </div> <div style=" font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in">The Company has a stock option plan for certain officers and key full-time employees of the Company and its subsidiaries. Options are granted at the market price for the underlying shares on the date of grant. Each option vests over a <div style="display: inline; font-style: italic; font: inherit;">four</div>-year term, expires <div style="display: inline; font-style: italic; font: inherit;">five</div> years from the date granted and allows for the purchase of <div style="display: inline; font-style: italic; font: inherit;">one</div> Common Share. All Common Shares issued are new shares. As at <div style="display: inline; font-style: italic; font: inherit;"> December 31, 2020, </div>there were <div style="display: inline; font-style: italic; font: inherit;">151,250</div> options available for future grants.</div> <div style=" font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in"> </div> <div style=" font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in">Grants under the Company's stock option plan are equity-classified awards. Stock option activity for the year ended <div style="display: inline; font-style: italic; font: inherit;"> December 31, 2020 </div>is as follows:</div> <div style=" margin: 0pt 0 0pt 0.5in; font-size: 10pt; text-align: justify"> </div> <div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; margin-left: 46px; min-width: 700px;"> <tr style="vertical-align: bottom"> <td style="text-indent: -10pt; padding-left: 10pt; white-space: nowrap; font-size: 10pt"> </td> <td style="font-size: 10pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt"> </td> <td style="font-size: 10pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt"> </td> <td style="font-size: 10pt; font-weight: bold"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; font-weight: bold; text-align: right">Weighted average</td> <td style="font-size: 10pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt"> </td> </tr> <tr style="vertical-align: bottom"> <td style="text-indent: -10pt; padding-left: 10pt; white-space: nowrap; font-size: 10pt"> </td> <td style="font-size: 10pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt"> </td> <td style="font-size: 10pt; font-weight: bold"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; font-weight: bold; text-align: right">Weighted</td> <td style="font-size: 10pt; font-weight: bold"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; font-weight: bold; text-align: right">remaining</td> <td style="font-size: 10pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt"> </td> </tr> <tr style="vertical-align: bottom"> <td style="text-indent: -10pt; padding-left: 10pt; white-space: nowrap; font-size: 10pt"> </td> <td style="font-size: 10pt; font-weight: bold"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; font-weight: bold; text-align: right">Number of</td> <td style="font-size: 10pt; font-weight: bold"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; font-weight: bold; text-align: right">average</td> <td style="font-size: 10pt; font-weight: bold"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; font-weight: bold; text-align: right">contractual life</td> <td style="font-size: 10pt; font-weight: bold"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; font-weight: bold; text-align: right">Aggregate</td> </tr> <tr style="vertical-align: bottom"> <td style="text-indent: -10pt; padding-left: 10pt; white-space: nowrap; font-size: 10pt"> </td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">options</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">exercise price</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">(years)</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">intrinsic value</td> </tr> <tr style="vertical-align: bottom"> <td style="text-indent: -10pt; padding-left: 10pt; white-space: nowrap; font-size: 10pt"> </td> <td style="font-size: 10pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; text-align: right"> </td> <td style="font-size: 10pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; text-align: right"> </td> <td style="font-size: 10pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt"> </td> <td style="font-size: 10pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left; text-indent: -30pt; padding-left: 30pt">Shares issuable under options - Beginning of period</td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,639,100</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left">$</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">60.26</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;"> </div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;"> </div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-indent: -30pt; padding-left: 30pt">Granted</td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">542,000</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">114.90</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;"> </div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;"> </div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-indent: -30pt; padding-left: 30pt">Exercised</td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(294,238</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">40.34</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;"> </div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;"> </div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; padding-bottom: 1pt; text-indent: -30pt; padding-left: 30pt">Forfeited</td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(3,750</div></td> <td style="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; font-size: 10pt; text-align: left"> </td> <td style="padding-bottom: 1pt; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">54.88</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; font-size: 10pt; text-align: left"> </td> <td style="padding-bottom: 1pt; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;"> </div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; font-size: 10pt; text-align: left"> </td> <td style="padding-bottom: 1pt; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;"> </div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt; text-indent: -30pt; padding-left: 30pt">Shares issuable under options - December 31, 2020</td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,883,112</div></td> <td style="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">$</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">79.11</div></td> <td style="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">2.6</div></td> <td style="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">$</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">108,772</div></td> <td style="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; padding-bottom: 1pt; text-indent: -30pt; padding-left: 30pt">Options exercisable - End of period</td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">714,014</div></td> <td style="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">$</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">60.63</div></td> <td style="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1.6</div></td> <td style="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">$</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">54,383</div></td> <td style="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td> </tr> </table> </div> <div style=" font-size: 10pt; margin: 0pt 0"> </div> <div style=" font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in">The Company incurred stock-based compensation expense related to these awards of <div style="display: inline; font-style: italic; font: inherit;">$11,628</div> during the year ended <div style="display: inline; font-style: italic; font: inherit;"> December 31, 2020 (</div><div style="display: inline; font-style: italic; font: inherit;">2019</div> - <div style="display: inline; font-style: italic; font: inherit;">$8,126</div>).</div> <div style=" font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in"> </div> <div style=" font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in">As at <div style="display: inline; font-style: italic; font: inherit;"> December 31, 2020, </div>the range of option exercise prices was <div style="display: inline; font-style: italic; font: inherit;">$35.96</div> to <div style="display: inline; font-style: italic; font: inherit;">$140.03</div> per share. Also as at <div style="display: inline; font-style: italic; font: inherit;"> December 31, 2020, </div>the aggregate intrinsic value and weighted average remaining contractual life for in-the-money options vested and expected to vest were <div style="display: inline; font-style: italic; font: inherit;">$108,772</div> and <div style="display: inline; font-style: italic; font: inherit;">2.47</div> years, respectively.</div> <div style=" font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in"> </div> <div style=" font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in">The following table summarizes information about option exercises during year ended <div style="display: inline; font-style: italic; font: inherit;"> December 31, 2020:</div></div> <div style=" font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in"> </div> <div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; margin-left: 46px; min-width: 700px;"> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; font-size: 10pt"> </td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2020</td> </tr> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; font-size: 10pt"> </td> <td style="font-size: 10pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 85%; font-size: 10pt; text-align: left">Number of options exercised</td> <td style="width: 1%; font-size: 10pt; font-weight: bold"> </td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"> </td> <td style="width: 12%; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">294,238</div></td> <td style="white-space: nowrap; width: 1%; font-size: 10pt; font-weight: bold; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"> </td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt">Aggregate fair value</td> <td style="font-size: 10pt; font-weight: bold"> </td> <td style="font-size: 10pt; font-weight: bold; text-align: left">$</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">33,734</div></td> <td style="white-space: nowrap; font-size: 10pt; font-weight: bold; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; padding-bottom: 1pt">Intrinsic value</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">22,224</div></td> <td style="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left; padding-bottom: 2.5pt">Amount of cash received</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-size: 10pt; font-weight: bold; text-align: left"> </td> <td style="border-bottom: Black 2.5pt double; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">11,510</div></td> <td style="white-space: nowrap; border-bottom: Black 2.5pt double; font-size: 10pt; font-weight: bold; text-align: left"> </td> </tr> </table> </div> <div style=" font-size: 10pt; margin: 0pt 0"> </div> <div style=" font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in">As at <div style="display: inline; font-style: italic; font: inherit;"> December 31, 2020, </div>there was <div style="display: inline; font-style: italic; font: inherit;">$13,434</div> of unrecognized compensation cost related to non-vested awards which is expected to be recognized over the next <div style="display: inline; font-style: italic; font: inherit;">4</div> years. During the year ended <div style="display: inline; font-style: italic; font: inherit;"> December 31, 2020, </div>the fair value of options vested was <div style="display: inline; font-style: italic; font: inherit;">$7,060</div> (<div style="display: inline; font-style: italic; font: inherit;">2019</div> - <div style="display: inline; font-style: italic; font: inherit;">$4,711</div>).</div> <div style=" font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in"> </div> <div style=" font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in">The fair value of each option grant is estimated on the date of grant using the Black-Scholes option pricing model, utilizing the following weighted average assumptions:</div> <div style=" font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in"> </div> <div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; margin-left: 46px; min-width: 700px;"> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; font-size: 10pt"> </td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2020</td> </tr> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; font-size: 10pt"> </td> <td style="font-size: 10pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 85%; font-size: 10pt; text-align: left">Risk free rate</td> <td style="width: 1%; font-size: 10pt; font-weight: bold"> </td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"> </td> <td style="width: 12%; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1.3</div></td> <td style="white-space: nowrap; width: 1%; font-size: 10pt; font-weight: bold; text-align: left">%</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Expected life in years</td> <td style="font-size: 10pt; font-weight: bold"> </td> <td style="font-size: 10pt; font-weight: bold; text-align: left"> </td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">4.75</div></td> <td style="white-space: nowrap; font-size: 10pt; font-weight: bold; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Expected volatility</td> <td style="font-size: 10pt; font-weight: bold"> </td> <td style="font-size: 10pt; font-weight: bold; text-align: left"> </td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">30.5</div></td> <td style="white-space: nowrap; font-size: 10pt; font-weight: bold; text-align: left">%</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Dividend yield</td> <td style="font-size: 10pt; font-weight: bold"> </td> <td style="font-size: 10pt; font-weight: bold; text-align: left"> </td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">0.5</div></td> <td style="white-space: nowrap; font-size: 10pt; font-weight: bold; text-align: left">%</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"> </td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt">Weighted average fair value per option granted</td> <td style="font-size: 10pt; font-weight: bold"> </td> <td style="font-size: 10pt; font-weight: bold; text-align: left">$</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">29.56</div></td> <td style="white-space: nowrap; font-size: 10pt; font-weight: bold; text-align: left"> </td> </tr> </table> </div> <div style=" font-size: 10pt; margin: 0pt 0"> </div> <!-- Field: /Page --> <div style=" margin: 0pt 0 0pt 0.5in; font-size: 10pt; text-align: justify">The risk-free interest rate is based on the implied yield of a <div style="display: inline; font-style: italic; font: inherit;">zero</div>-coupon US Treasury bond with a term equal to the option's expected term. The expected life in years represents the estimated period of time until exercise and is based on historical experience. The expected volatility is based on the historical prices of the Company's shares over the previous <div style="display: inline; font-style: italic; font: inherit;">four</div> years.</div></div>
1406000
4676000
6082000
23411000
23411000
28417000
28417000
2421000
2564000
2.04
-6.58
2.02
-6.58
<div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;"> <tr style="vertical-align: top"> <td style="width: 0"></td> <td style="width: 0.5in"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-style: italic; font: inherit;">17.</div></div></td> <td><div style="display: inline; font-weight: bold;">Net earnings per common share</div></td> </tr> </table> <div style=" font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in"> </div> <div style=" font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in">The following table reconciles the denominator used to calculate earnings per common share:</div> <div style=" font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in"> </div> <div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; margin-left: 46px; min-width: 700px;"> <tr style="vertical-align: bottom"> <td style="text-indent: -10pt; padding-left: 10pt; white-space: nowrap; font-size: 10pt"> </td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2020</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2019</td> </tr> <tr style="vertical-align: bottom"> <td style="text-indent: -10pt; padding-left: 10pt; white-space: nowrap; font-size: 10pt"> </td> <td style="font-size: 10pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; text-align: right"> </td> <td style="font-size: 10pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -10pt; padding-left: 10pt; width: 70%; font-size: 10pt; text-align: left">Shares issued and outstanding at beginning of period</td> <td style="width: 1%; font-size: 10pt; font-weight: bold"> </td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"> </td> <td style="width: 12%; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">41,495,957</div></td> <td style="white-space: nowrap; width: 1%; font-size: 10pt; font-weight: bold; text-align: left"> </td> <td style="width: 1%; font-size: 10pt"> </td> <td style="width: 1%; font-size: 10pt; text-align: left"> </td> <td style="width: 12%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">35,980,047</div></td> <td style="white-space: nowrap; width: 1%; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-indent: -10pt; padding-left: 10pt; font-size: 10pt">Weighted average number of shares:</td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"> </td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"> </td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -10pt; font-size: 10pt; text-align: left; padding-bottom: 1pt; padding-left: 20pt">Issued during the period</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,260,042</div></td> <td style="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"> </td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">2,245,229</div></td> <td style="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-indent: -10pt; padding-left: 10pt; font-size: 10pt">Weighted average number of shares used in computing basic earnings per share</td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">42,755,999</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">38,225,276</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -10pt; padding-left: 10pt; font-size: 10pt; text-align: left; padding-bottom: 1pt">Assumed exercise of stock options, net of shares assumed acquired under the Treasury Stock Method</td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">428,098</div></td> <td style="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">437,204</div></td> <td style="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-indent: -10pt; padding-left: 10pt; font-size: 10pt; text-align: left; padding-bottom: 2.5pt">Number of shares used in computing diluted earnings per share</td> <td style="font-size: 10pt; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: left"> </td> <td style="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">43,184,097</div></td> <td style="white-space: nowrap; border-bottom: Black 2.5pt double; font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: left"> </td> <td style="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">38,662,480</div></td> <td style="white-space: nowrap; border-bottom: Black 2.5pt double; font-size: 10pt; text-align: left"> </td> </tr> </table> </div></div>
340000
462000
0.265
0.265
160795000
94010000
13434000
P4Y
<div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; margin-left: 46px; min-; min-width: 700px;"> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; font-size: 10pt"> </td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="7" style="white-space: nowrap; font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2020</td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td colspan="7" style="white-space: nowrap; font-size: 10pt; text-align: center; border-bottom: Black 1pt solid">2019</td> </tr> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; font-size: 10pt"> </td> <td style="font-size: 10pt; font-weight: bold"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; font-weight: bold; text-align: right">Carrying</td> <td style="font-size: 10pt; font-weight: bold"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; font-weight: bold; text-align: right">Fair</td> <td style="font-size: 10pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; text-align: right">Carrying</td> <td style="font-size: 10pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; text-align: right">Fair</td> </tr> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; font-size: 10pt"> </td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">amount</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">value</td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; text-align: right; border-bottom: Black 1pt solid">amount</td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; text-align: right; border-bottom: Black 1pt solid">value</td> </tr> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; font-size: 10pt"> </td> <td style="font-size: 10pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; text-align: right"> </td> <td style="font-size: 10pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; text-align: right"> </td> <td style="font-size: 10pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt"> </td> <td style="font-size: 10pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 40%; font-size: 10pt; text-align: left">Other receivables</td> <td style="width: 1%; font-size: 10pt; font-weight: bold"> </td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">$</td> <td style="width: 12%; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">4,170</div></td> <td style="white-space: nowrap; width: 1%; font-size: 10pt; font-weight: bold; text-align: left"> </td> <td style="width: 1%; font-size: 10pt; font-weight: bold"> </td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">$</td> <td style="width: 12%; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">4,170</div></td> <td style="white-space: nowrap; width: 1%; font-size: 10pt; font-weight: bold; text-align: left"> </td> <td style="width: 1%; font-size: 10pt"> </td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td> <td style="width: 12%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">4,033</div></td> <td style="white-space: nowrap; width: 1%; font-size: 10pt; text-align: left"> </td> <td style="width: 1%; font-size: 10pt"> </td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td> <td style="width: 12%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">4,033</div></td> <td style="white-space: nowrap; width: 1%; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Long-term debt</td> <td style="font-size: 10pt; font-weight: bold"> </td> <td style="font-size: 10pt; font-weight: bold; text-align: left"> </td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">589,604</div></td> <td style="white-space: nowrap; font-size: 10pt; font-weight: bold; text-align: left"> </td> <td style="font-size: 10pt; font-weight: bold"> </td> <td style="font-size: 10pt; font-weight: bold; text-align: left"> </td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">604,091</div></td> <td style="white-space: nowrap; font-size: 10pt; font-weight: bold; text-align: left"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">766,623</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">779,279</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> </tr> </table></div>
<div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style=" font-size: 10pt; margin: 0pt 0 0pt 0.5in"><div style="display: inline; font-weight: bold;">Fair value</div></div> <div style=" font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in">The Company uses the fair value measurements framework for financial assets and liabilities and for non-financial assets and liabilities that are recognized or disclosed at fair value on a non-recurring basis. The framework defines fair value, gives guidance for measurement and disclosure, and establishes a <div style="display: inline; font-style: italic; font: inherit;">three</div>-level hierarchy for observable and unobservable inputs used to measure fair value. The classification of an asset or liability within the hierarchy is determined based on the lowest level input that is significant to the fair value measurement. The <div style="display: inline; font-style: italic; font: inherit;">three</div> levels are as follows:</div> <div style=" font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in"> </div> <div style=" font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in">Level <div style="display: inline; font-style: italic; font: inherit;">1</div> – Quoted prices (unadjusted) in active markets for identical assets or liabilities</div> <div style=" font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in">Level <div style="display: inline; font-style: italic; font: inherit;">2</div> – Observable market-based inputs other than quoted prices in active markets for identical assets or liabilities</div> <div style=" font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in">Level <div style="display: inline; font-style: italic; font: inherit;">3</div> – Unobservable inputs for which there is little or <div style="display: inline; font-style: italic; font: inherit;">no</div> market data, which requires the Company to develop its own assumptions</div></div></div>
10898000
24198000
21060000
<div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;"> <tr style="vertical-align: top"> <td style="width: 0"></td> <td style="width: 0.5in"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-style: italic; font: inherit;">19.</div></div></td> <td><div style="display: inline; font-weight: bold;">Financial instruments</div></td> </tr> </table> <div style=" font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in"> </div> <div style=" font-size: 10pt; margin: 0pt 0 0pt 0.5in"><div style="display: inline; font-style: italic;">Concentration of credit risk</div></div> <div style=" font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in">The Company is subject to credit risk with respect to its cash and cash equivalents, accounts receivable and other receivables. Concentrations of credit risk with respect to cash and cash equivalents are limited by the use of multiple large and reputable banks. Concentrations of credit risk with respect to the receivables are limited due to the large number of entities comprising the Company's customer base and their dispersion across many different service lines.</div> <div style=" font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in"> </div> <div style=" font-size: 10pt; margin: 0pt 0 0pt 0.5in"><div style="display: inline; font-style: italic;">Interest rate risk</div></div> <div style=" font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in">The Company maintains an interest rate risk management strategy that uses interest rate hedging contracts from time to time. The Company's specific goals are to: (i) manage interest rate sensitivity by modifying the characteristics of its debt and (ii) lower the long-term cost of its borrowed funds.</div> <div style=" font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in"> </div> <div style=" font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in"><div style="display: inline; font-style: italic;">Foreign currency risk</div></div> <div style=" font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in">Foreign currency risk is related to the portion of the Company's business transactions denominated in currencies other than U.S. dollars. A portion of revenue is generated by the Company's Canadian operations. The Company's head office expenses are incurred in Canadian dollars which is economically hedged by Canadian dollar denominated revenue.</div> <div style=" font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in"> </div> <!-- Field: /Page --> <div style=" margin: 0pt 0 0pt 0.5in; font-size: 10pt"><div style="display: inline; font-style: italic;">Fair values of financial instruments</div></div> <div style=" font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in">The following table provides the financial assets and liabilities carried at fair value measured on a recurring basis as of <div style="display: inline; font-style: italic; font: inherit;"> December 31, 2020:</div></div> <div style=" margin: 0pt 0 0pt 0.5in; font-size: 10pt; text-align: justify"> </div> <div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; margin-left: 46px; min-width: 700px;"> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; font-size: 10pt"> </td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td colspan="3" style="padding-bottom: 1pt; white-space: nowrap; font-size: 10pt; text-align: right">Carrying value at</td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td colspan="11" style="white-space: nowrap; font-size: 10pt; text-align: center; border-bottom: Black 1pt solid">Fair value measurements</td> </tr> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; font-size: 10pt"> </td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; text-align: right; border-bottom: Black 1pt solid">December 31, 2020</td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; text-align: right; border-bottom: Black 1pt solid">Level 1</td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; text-align: right; border-bottom: Black 1pt solid">Level 2</td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; text-align: right; border-bottom: Black 1pt solid">Level 3</td> </tr> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; font-size: 10pt"> </td> <td style="font-size: 10pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt"> </td> <td style="font-size: 10pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt"> </td> <td style="font-size: 10pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; text-align: right"> </td> <td style="font-size: 10pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 40%; font-size: 10pt; text-align: left">Contingent consideration liability</td> <td style="width: 1%; font-size: 10pt"> </td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td> <td style="width: 12%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">24,128</div></td> <td style="white-space: nowrap; width: 1%; font-size: 10pt; text-align: left"> </td> <td style="width: 1%; font-size: 10pt"> </td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td> <td style="width: 12%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="white-space: nowrap; width: 1%; font-size: 10pt; text-align: left"> </td> <td style="width: 1%; font-size: 10pt"> </td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td> <td style="width: 12%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="white-space: nowrap; width: 1%; font-size: 10pt; text-align: left"> </td> <td style="width: 1%; font-size: 10pt"> </td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td> <td style="width: 12%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">24,128</div></td> <td style="white-space: nowrap; width: 1%; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Interest rate swap liability</td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">2,101</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">2,101</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> </tr> </table> </div> <div style=" font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in"> </div> <div style=" font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in">The Company has <div style="display: inline; font-style: italic; font: inherit;">one</div> interest rate swap in place to exchange the floating interest rate on <div style="display: inline; font-style: italic; font: inherit;">$100,000</div> of debt under its Credit Agreement for a fixed rate. The fair value of the interest rate swap liability was determined using widely accepted valuation techniques. The inputs to the measurement of the fair value of contingent consideration related to acquisitions are Level <div style="display: inline; font-style: italic; font: inherit;">3</div> inputs using a discounted cash flow model; significant model inputs were expected future operating cash flows (determined with reference to each specific acquired business) and discount rates (which range from <div style="display: inline; font-style: italic; font: inherit;">8%</div> to <div style="display: inline; font-style: italic; font: inherit;">10%</div>). The range of discount rates is attributable to level of risk related to economic growth factors combined with the length of the contingent payment periods; and the dispersion was driven by unique characteristics of the businesses acquired and the respective terms for these contingent payments. Within the range of discount rates, there is a data point concentration at <div style="display: inline; font-style: italic; font: inherit;">9%.</div> A <div style="display: inline; font-style: italic; font: inherit;">2%</div> increase in the weighted average discount rate would <div style="display: inline; font-style: italic; font: inherit;">not</div> have a significant impact on the fair value of the contingent consideration balance.</div> <div style=" font-size: 10pt; margin: 0pt 0"> </div> <div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; margin-left: 46px; min-width: 700px;"> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 85%; font-size: 10pt">Balance, December 31, 2019</td> <td style="width: 1%; font-size: 10pt"> </td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td> <td style="width: 12%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">14,423</div></td> <td style="white-space: nowrap; width: 1%; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Amounts recognized on acquisitions</td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">13,259</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Amounts recognized on acquisitions of management contracts</td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">890</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt">Fair value adjustments</td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(261</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Resolved and settled in cash</td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(4,664</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; padding-bottom: 1pt">Other</td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">481</div></td> <td style="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; padding-bottom: 1pt">Balance, December 31, 2020</td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">$</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">24,128</div></td> <td style="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"> </td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Less: current portion</td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">$</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">4,243</div></td> <td style="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Non-current portion</td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">$</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">19,885</div></td> <td style="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td> </tr> </table> </div> <div style=" font-size: 10pt; margin: 0pt 0"> </div> <div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">The carrying amounts for cash and cash equivalents, restricted cash, accounts receivable, accounts payable and accrued liabilities approximate fair values due to the short maturity of these instruments, unless otherwise indicated. The inputs to the measurement of the fair value of long term debt are Level <div style="display: inline; font-style: italic; font: inherit;">3</div> inputs. The fair value measurements were made using a net present value approach; significant model inputs were expected future cash outflows and discount rates (which range from <div style="display: inline; font-style: italic; font: inherit;">1.0%</div> to <div style="display: inline; font-style: italic; font: inherit;">1.5%</div>). The following are estimates of the fair values for other financial instruments:</div> <div style=" font-size: 10pt; margin: 0pt 0"> </div> <div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; margin-left: 46px; min-width: 700px;"> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; font-size: 10pt"> </td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="7" style="white-space: nowrap; font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2020</td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td colspan="7" style="white-space: nowrap; font-size: 10pt; text-align: center; border-bottom: Black 1pt solid">2019</td> </tr> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; font-size: 10pt"> </td> <td style="font-size: 10pt; font-weight: bold"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; font-weight: bold; text-align: right">Carrying</td> <td style="font-size: 10pt; font-weight: bold"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; font-weight: bold; text-align: right">Fair</td> <td style="font-size: 10pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; text-align: right">Carrying</td> <td style="font-size: 10pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; text-align: right">Fair</td> </tr> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; font-size: 10pt"> </td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">amount</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">value</td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; text-align: right; border-bottom: Black 1pt solid">amount</td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; text-align: right; border-bottom: Black 1pt solid">value</td> </tr> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; font-size: 10pt"> </td> <td style="font-size: 10pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; text-align: right"> </td> <td style="font-size: 10pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; text-align: right"> </td> <td style="font-size: 10pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt"> </td> <td style="font-size: 10pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 40%; font-size: 10pt; text-align: left">Other receivables</td> <td style="width: 1%; font-size: 10pt; font-weight: bold"> </td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">$</td> <td style="width: 12%; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">4,170</div></td> <td style="white-space: nowrap; width: 1%; font-size: 10pt; font-weight: bold; text-align: left"> </td> <td style="width: 1%; font-size: 10pt; font-weight: bold"> </td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">$</td> <td style="width: 12%; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">4,170</div></td> <td style="white-space: nowrap; width: 1%; font-size: 10pt; font-weight: bold; text-align: left"> </td> <td style="width: 1%; font-size: 10pt"> </td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td> <td style="width: 12%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">4,033</div></td> <td style="white-space: nowrap; width: 1%; font-size: 10pt; text-align: left"> </td> <td style="width: 1%; font-size: 10pt"> </td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td> <td style="width: 12%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">4,033</div></td> <td style="white-space: nowrap; width: 1%; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Long-term debt</td> <td style="font-size: 10pt; font-weight: bold"> </td> <td style="font-size: 10pt; font-weight: bold; text-align: left"> </td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">589,604</div></td> <td style="white-space: nowrap; font-size: 10pt; font-weight: bold; text-align: left"> </td> <td style="font-size: 10pt; font-weight: bold"> </td> <td style="font-size: 10pt; font-weight: bold; text-align: left"> </td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">604,091</div></td> <td style="white-space: nowrap; font-size: 10pt; font-weight: bold; text-align: left"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">766,623</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">779,279</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> </tr> </table> </div> <div style=" font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in"> </div> <div style=" margin: 0pt 0 0pt 0.5in; font-size: 10pt; text-align: justify">Other receivables include notes receivable from non-controlling shareholders and other non-current receivables.</div></div>
P4Y
P20Y
P1Y
P35Y
P2Y
P15Y
P180D
P1Y
P10Y
P2Y
P10Y
P10Y
103884000
29930000
20051000
45553000
199418000
71474000
26707000
18543000
36462000
153186000
42298000
36759000
37534000
39373000
40823000
403976000
49925000
29765000
94514000
578180000
360228000
49806000
30303000
79073000
519410000
300092000
19995000
9714000
48961000
378762000
288754000
23099000
11760000
42611000
366224000
43665000
310000
13907000
57882000
<div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style=" font-size: 10pt; margin: 0pt 0 0pt 0.5in"><div style="display: inline; font-weight: bold;">Foreign currency translation</div></div> <div style=" font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in">Assets, liabilities and operations of foreign subsidiaries are recorded based on the functional currency of each entity. For certain foreign operations, the functional currency is the local currency, in which case the assets, liabilities and operations are translated at current exchange rates from the local currency to the reporting currency, the US dollar. The resulting unrealized gains or losses are reported as a component of accumulated other comprehensive earnings. Realized and unrealized foreign currency gains or losses related to any foreign dollar denominated monetary assets and liabilities are included in net earnings.</div></div></div>
250846000
193943000
141212000
335155000
211726000
433121000
644847000
227736000
476002000
703738000
56547000
58381000
18446000
290781000
309227000
15369000
41178000
56547000
<div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style=" font-size: 10pt; margin: 0pt 0 0pt 0.5in"><div style="display: inline; font-weight: bold;">Goodwill and intangible assets</div></div> <div style=" font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in">Goodwill represents the excess of purchase price over the fair value of assets acquired and liabilities assumed in a business combination and is <div style="display: inline; font-style: italic; font: inherit;">not</div> subject to amortization.</div> <div style=" font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in"> </div> <div style=" font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in">Intangible assets are recorded at fair value on the date they are acquired. They are amortized over their estimated useful lives as follows:</div> <div style=" font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in"> </div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;"> <tr style="vertical-align: bottom"> <td style="width: 50%; font-size: 10pt; text-align: left; padding-left: 0.5in">Customer relationships</td> <td style="width: 1%; font-size: 10pt"> </td> <td style="width: 49%; font-size: 10pt; text-align: left">straight-line over <div style="display: inline; font-style: italic; font: inherit;">4</div> to <div style="display: inline; font-style: italic; font: inherit;">20</div> years</td> </tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt; text-align: left; padding-left: 0.5in">Franchise rights</td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left">by pattern of use, currently estimated at <div style="display: inline; font-style: italic; font: inherit;">2.5%</div> to <div style="display: inline; font-style: italic; font: inherit;">15%</div> per year</td> </tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt; text-align: left; padding-left: 0.5in">Trademarks and trade names</td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left">straight-line over <div style="display: inline; font-style: italic; font: inherit;">1</div> to <div style="display: inline; font-style: italic; font: inherit;">35</div> years</td> </tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt; text-align: left; padding-left: 0.5in">Management contracts and other</td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left">straight-line over life of contract ranging from <div style="display: inline; font-style: italic; font: inherit;">2</div> to <div style="display: inline; font-style: italic; font: inherit;">15</div> years</td> </tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt; padding-left: 0.5in">Backlog</td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left">straight-line over <div style="display: inline; font-style: italic; font: inherit;">6</div> to <div style="display: inline; font-style: italic; font: inherit;">12</div> months</td> </tr> </table> <div style=" font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in"> </div> <div style=" font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in">The Company reviews the carrying value of finite life intangible assets for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset group <div style="display: inline; font-style: italic; font: inherit;"> may </div><div style="display: inline; font-style: italic; font: inherit;">not</div> be recoverable from the estimated future cash flows expected to result from their use and eventual disposition. If the sum of the undiscounted expected future cash flows is less than the carrying amount of the asset group, an impairment loss is recognized. Measurement of the impairment loss is based on the excess of the carrying amount of the asset group over the fair value calculated using an income approach.</div> <div style=" font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in"> </div> <div style=" font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in">Goodwill is tested for impairment annually, on <div style="display: inline; font-style: italic; font: inherit;"> August </div><div style="display: inline; font-style: italic; font: inherit;">1,</div> or more frequently if events or changes in circumstances indicate the asset might be impaired, in which case the carrying amount of the asset is written down to fair value.</div> <div style=" font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in"> </div> <div style=" font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in">Impairment of goodwill is tested at the reporting unit level. The Company has <div style="display: inline; font-style: italic; font: inherit;">seven</div> reporting units determined with reference to business segment, customer type, service delivery model and geography. Impairment is tested by <div style="display: inline; font-style: italic; font: inherit;">first</div> assessing qualitative factors to determine whether it is more likely than <div style="display: inline; font-style: italic; font: inherit;">not</div> that the fair value of a reporting unit is less than its carrying amount. Where it is determined to be more likely than <div style="display: inline; font-style: italic; font: inherit;">not</div> that its fair value is greater than its carrying amount, then <div style="display: inline; font-style: italic; font: inherit;">no</div> further testing is required. Where the qualitative analysis is <div style="display: inline; font-style: italic; font: inherit;">not</div> sufficient to support that the fair value exceeds the carrying amount then a goodwill impairment test is performed. A quantitative goodwill impairment test is performed by comparing the fair value of each reporting unit to its carrying value, including goodwill. Fair value is estimated using a market multiple method, which estimates market multiples of earnings before interest, taxes, depreciation and amortization (“EBITDA”) for comparable entities with similar operations and economic characteristics. Significant assumptions used in estimating the fair value of each reporting unit include the market multiples of EBITDA.</div></div></div>
<div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;"> <tr style="vertical-align: top; text-align: justify"> <td style="width: 0; text-align: right"></td> <td style="width: 0.5in"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-style: italic; font: inherit;">11.</div></div></div></td> <td style="text-align: justify"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-weight: bold;">Goodwill</div></div></td> </tr> </table> <div style=" margin: 0"> </div> <div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; margin-left: 46px; min-width: 700px;"> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; font-size: 10pt"> </td> <td style="font-size: 10pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; text-align: right">FirstService</td> <td style="font-size: 10pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; text-align: right">FirstService</td> <td> </td> <td colspan="3" style="white-space: nowrap"> </td> </tr> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; font-size: 10pt"> </td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; text-align: right; border-bottom: Black 1pt solid">Residential</td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; text-align: right; border-bottom: Black 1pt solid">Brands</td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; text-align: right; border-bottom: Black 1pt solid">Consolidated</td> </tr> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; font-size: 10pt"> </td> <td style="font-size: 10pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; text-align: right"> </td> <td style="font-size: 10pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; text-align: right"> </td> <td> </td> <td colspan="3" style="white-space: nowrap"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 55%; font-size: 10pt">Balance, December 31, 2018</td> <td style="width: 1%; font-size: 10pt"> </td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td> <td style="width: 12%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">193,943</div></td> <td style="white-space: nowrap; width: 1%; font-size: 10pt; text-align: left"> </td> <td style="width: 1%; font-size: 10pt"> </td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td> <td style="width: 12%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">141,212</div></td> <td style="white-space: nowrap; width: 1%; font-size: 10pt; text-align: left"> </td> <td style="width: 1%; font-size: 10pt"> </td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td> <td style="width: 12%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">335,155</div></td> <td style="white-space: nowrap; width: 1%; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Goodwill acquired during the year</td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">18,446</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">290,781</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">309,227</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Goodwill disposed during the year</td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(2,025</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(229</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(2,254</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Other items</td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">527</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">956</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,483</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Foreign exchange</td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">835</div></td> <td style="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">401</div></td> <td style="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,236</div></td> <td style="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt">Balance, December 31, 2019</td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">211,726</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">433,121</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">644,847</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Goodwill acquired during the year</td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">15,369</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">41,178</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">56,547</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Other items</td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">200</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,096</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,296</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Foreign exchange</td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">441</div></td> <td style="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">607</div></td> <td style="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,048</div></td> <td style="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 2.5pt">Balance, December 31, 2020</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-size: 10pt; font-weight: bold; text-align: left">$</td> <td style="border-bottom: Black 2.5pt double; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">227,736</div></td> <td style="white-space: nowrap; border-bottom: Black 2.5pt double; font-size: 10pt; font-weight: bold; text-align: left"> </td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-size: 10pt; font-weight: bold; text-align: left">$</td> <td style="border-bottom: Black 2.5pt double; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">476,002</div></td> <td style="white-space: nowrap; border-bottom: Black 2.5pt double; font-size: 10pt; font-weight: bold; text-align: left"> </td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-size: 10pt; font-weight: bold; text-align: left">$</td> <td style="border-bottom: Black 2.5pt double; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">703,738</div></td> <td style="white-space: nowrap; border-bottom: Black 2.5pt double; font-size: 10pt; font-weight: bold; text-align: left"> </td> </tr> </table> </div> <div style=" font-size: 10pt; margin: 0pt 0"> </div> <!-- Field: /Page --> <div style=" margin: 0pt 0 0pt 0.5in; font-size: 10pt; text-align: justify">Goodwill represents the excess of purchase price over the value assigned to the net tangible and identifiable intangible assets of businesses acquired. A test for goodwill impairment is required to be completed annually, in the Company's case as of <div style="display: inline; font-style: italic; font: inherit;"> August </div><div style="display: inline; font-style: italic; font: inherit;">1,</div> or more frequently if events or changes in circumstances indicate the asset might be impaired. Based on the quantitative assessment in <div style="display: inline; font-style: italic; font: inherit;">2020,</div> the Company has concluded that goodwill is <div style="display: inline; font-style: italic; font: inherit;">not</div> impaired. There were <div style="display: inline; font-style: italic; font: inherit;">no</div> triggering events since the impairment test in <div style="display: inline; font-style: italic; font: inherit;"> August.</div></div></div>
835000
401000
1236000
441000
607000
1048000
0
527000
956000
1483000
200000
1096000
1296000
2025000
229000
2254000
19166000
-323100000
126289000
122616000
145455000
-200484000
<div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;"> <tr style="vertical-align: top"> <td style="width: 0.5in"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-style: italic; font: inherit;">16.</div></div></td> <td><div style="display: inline; font-weight: bold;">Income tax</div></td> </tr> </table> <div style=" font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in"> </div> <div style=" font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in">Income tax differs from the amounts that would be obtained by applying the statutory rate to the respective year's earnings before tax. Differences result from the following items:</div> <div style=" font-size: 10pt; margin: 0pt 0"> </div> <div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; margin-left: 46px; min-width: 700px;"> <tr style="vertical-align: bottom"> <td style="text-indent: -10pt; padding-left: 10pt; white-space: nowrap; font-size: 10pt"> </td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"><div style="display: inline; font-weight: bold;">2020</div></td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; text-align: right; border-bottom: Black 1pt solid">2019</td> </tr> <tr style="vertical-align: bottom"> <td style="text-indent: -10pt; padding-left: 10pt; white-space: nowrap; font-size: 10pt"> </td> <td style="font-size: 10pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt"><div style="display: inline; font-weight: bold;"> </div></td> <td style="font-size: 10pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -10pt; padding-left: 10pt; width: 70%; font-size: 10pt; text-align: left">Income tax expense using combined statutory rate of 26.5% (2019 - 26.5%, 2018 - 26.5%)</td> <td style="width: 1%; font-size: 10pt"> </td> <td style="width: 1%; font-size: 10pt; text-align: left"><div style="display: inline; font-weight: bold;">$</div></td> <td style="width: 12%; font-size: 10pt; text-align: right"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-style: italic; font: inherit;">38,545</div></div></td> <td style="white-space: nowrap; width: 1%; font-size: 10pt; text-align: left"><div style="display: inline; font-weight: bold;"> </div></td> <td style="width: 1%; font-size: 10pt"> </td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td> <td style="width: 12%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(53,128</div></td> <td style="white-space: nowrap; width: 1%; font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-indent: -10pt; padding-left: 10pt; font-size: 10pt; text-align: left">Permanent differences</td> <td style="font-size: 10pt; font-weight: bold"> </td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-weight: bold;"> </div></td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-style: italic; font: inherit;">820</div></div></td> <td style="white-space: nowrap; font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-weight: bold;"> </div></td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,566</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -10pt; padding-left: 10pt; font-size: 10pt; text-align: left">Tax effect of flow through entities</td> <td style="font-size: 10pt; font-weight: bold"> </td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-weight: bold;"> </div></td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-style: italic; font: inherit;">-</div></div></td> <td style="white-space: nowrap; font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-weight: bold;"> </div></td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(307</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-indent: -10pt; padding-left: 10pt; font-size: 10pt; text-align: left">Adjustments to tax liabilities for prior periods</td> <td style="font-size: 10pt; font-weight: bold"> </td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-weight: bold;"> </div></td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-style: italic; font: inherit;">882</div></div></td> <td style="white-space: nowrap; font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-weight: bold;"> </div></td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(328</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -10pt; padding-left: 10pt; font-size: 10pt; text-align: left">Non-deductible stock-based compensation</td> <td style="font-size: 10pt; font-weight: bold"> </td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-weight: bold;"> </div></td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-style: italic; font: inherit;">3,081</div></div></td> <td style="white-space: nowrap; font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-weight: bold;"> </div></td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">2,153</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-indent: -10pt; padding-left: 10pt; font-size: 10pt; text-align: left">Excess tax benefits related to stock-based compensation</td> <td style="font-size: 10pt; font-weight: bold"> </td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-weight: bold;"> </div></td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-style: italic; font: inherit;">-</div></div></td> <td style="white-space: nowrap; font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-weight: bold;"> </div></td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(3,672</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -10pt; padding-left: 10pt; font-size: 10pt; text-align: left">Foreign, state and provincial tax rate differential</td> <td style="font-size: 10pt; font-weight: bold"> </td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-weight: bold;"> </div></td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-style: italic; font: inherit;">(7,463</div></div></td> <td style="white-space: nowrap; font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-weight: bold;">)</div></td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(2,402</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-indent: -10pt; padding-left: 10pt; font-size: 10pt; text-align: left">Settlement of long-term incentive arrangement</td> <td style="font-size: 10pt; font-weight: bold"> </td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-weight: bold;"> </div></td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-style: italic; font: inherit;">-</div></div></td> <td style="white-space: nowrap; font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-weight: bold;"> </div></td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">83,310</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -10pt; padding-left: 10pt; font-size: 10pt; text-align: left; padding-bottom: 1pt">Other taxes</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-weight: bold;"> </div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-style: italic; font: inherit;">-</div></div></td> <td style="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-weight: bold;"> </div></td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(45</div></td> <td style="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-indent: -10pt; padding-left: 10pt; font-size: 10pt; text-align: left; padding-bottom: 1pt">Provision for income taxes as reported</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-weight: bold;">$</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-style: italic; font: inherit;">35,865</div></div></td> <td style="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-weight: bold;"> </div></td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">$</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">27,147</div></td> <td style="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td> </tr> </table> </div> <div style=" font-size: 10pt; margin: 0pt 0"> </div> <div style=" margin: 0pt 0 0pt 0.5in; font-size: 10pt; text-align: justify"><div style="display: inline; font-size: 10pt">Earnings before income tax by jurisdiction comprise the following:</div></div> <div style=" margin: 0"> </div> <div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; margin-left: 46px; min-width: 700px;"> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; font-size: 10pt"> </td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2020</td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; text-align: right; border-bottom: Black 1pt solid">2019</td> </tr> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; font-size: 10pt"> </td> <td style="font-size: 10pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt"> </td> <td style="font-size: 10pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 70%; font-size: 10pt">Canada</td> <td style="width: 1%; font-size: 10pt; font-weight: bold"> </td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">$</td> <td style="width: 12%; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">19,166</div></td> <td style="white-space: nowrap; width: 1%; font-size: 10pt; font-weight: bold; text-align: left"> </td> <td style="width: 1%; font-size: 10pt"> </td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td> <td style="width: 12%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(323,100</div></td> <td style="white-space: nowrap; width: 1%; font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">United States</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">126,289</div></td> <td style="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"> </td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">122,616</div></td> <td style="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; padding-bottom: 1pt">Total</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">$</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">145,455</div></td> <td style="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"> </td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">$</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(200,484</div></td> <td style="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> </tr> </table> </div> <div style=" margin: 0"> </div> <div style=" margin: 0pt 0 0pt 0.5in; font-size: 10pt; text-align: justify"><div style="display: inline; font-size: 10pt">Income tax expense (recovery) comprises the following:</div></div> <div style=" margin: 0"> </div> <div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; margin-left: 46px; min-width: 700px;"> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; font-size: 10pt"> </td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2020</td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; text-align: right; border-bottom: Black 1pt solid">2019</td> </tr> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; font-size: 10pt"> </td> <td style="font-size: 10pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt"> </td> <td style="font-size: 10pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt">Current</td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"> </td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"> </td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="width: 70%; font-size: 10pt; padding-left: 10pt">Canada</td> <td style="width: 1%; font-size: 10pt; font-weight: bold"> </td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">$</td> <td style="width: 12%; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">3,300</div></td> <td style="white-space: nowrap; width: 1%; font-size: 10pt; font-weight: bold; text-align: left"> </td> <td style="width: 1%; font-size: 10pt"> </td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td> <td style="width: 12%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">369</div></td> <td style="white-space: nowrap; width: 1%; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt; padding-left: 10pt">United States</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">49,759</div></td> <td style="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"> </td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">33,978</div></td> <td style="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">53,059</div></td> <td style="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"> </td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">34,347</div></td> <td style="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"> </td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"> </td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt">Deferred</td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"> </td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"> </td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; padding-left: 10pt">Canada</td> <td style="font-size: 10pt; font-weight: bold"> </td> <td style="font-size: 10pt; font-weight: bold; text-align: left"> </td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,350</div></td> <td style="white-space: nowrap; font-size: 10pt; font-weight: bold; text-align: left"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(1,620</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt; padding-left: 10pt">United States</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(18,544</div></td> <td style="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">)</td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(5,580</div></td> <td style="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(17,194</div></td> <td style="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">)</td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(7,200</div></td> <td style="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"> </td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"> </td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; padding-bottom: 2.5pt">Total</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-size: 10pt; font-weight: bold; text-align: left">$</td> <td style="border-bottom: Black 2.5pt double; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">35,865</div></td> <td style="white-space: nowrap; border-bottom: Black 2.5pt double; font-size: 10pt; font-weight: bold; text-align: left"> </td> <td style="font-size: 10pt; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: left">$</td> <td style="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">27,147</div></td> <td style="white-space: nowrap; border-bottom: Black 2.5pt double; font-size: 10pt; text-align: left"> </td> </tr> </table> </div> <div style=" font-size: 10pt; margin: 0pt 0"> </div> <!-- Field: /Page --> <div style=" margin: 0pt 0 0pt 0.5in; font-size: 10pt; text-align: justify"><div style="display: inline; font-size: 10pt">The significant components of deferred income tax are as follows:</div></div> <div style=" margin: 0"> </div> <div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; margin-left: 46px; min-width: 700px;"> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; font-size: 10pt"> </td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2020</td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; text-align: right; border-bottom: Black 1pt solid">2019</td> </tr> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; font-size: 10pt"> </td> <td style="font-size: 10pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; text-align: right"> </td> <td style="font-size: 10pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; text-align: right"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Deferred income tax assets</td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"> </td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"> </td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="width: 70%; font-size: 10pt; text-align: left; padding-left: 10pt">Loss carry-forwards</td> <td style="width: 1%; font-size: 10pt; font-weight: bold"> </td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">$</td> <td style="width: 12%; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,441</div></td> <td style="white-space: nowrap; width: 1%; font-size: 10pt; font-weight: bold; text-align: left"> </td> <td style="width: 1%; font-size: 10pt"> </td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td> <td style="width: 12%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">2,788</div></td> <td style="white-space: nowrap; width: 1%; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left; padding-left: 10pt">Expenses not currently deductible</td> <td style="font-size: 10pt; font-weight: bold"> </td> <td style="font-size: 10pt; font-weight: bold; text-align: left"> </td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">39,415</div></td> <td style="white-space: nowrap; font-size: 10pt; font-weight: bold; text-align: left"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">23,283</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left; padding-left: 10pt">Stock-based compensation</td> <td style="font-size: 10pt; font-weight: bold"> </td> <td style="font-size: 10pt; font-weight: bold; text-align: left"> </td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="white-space: nowrap; font-size: 10pt; font-weight: bold; text-align: left"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">749</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left; padding-left: 10pt">Allowance for doubtful accounts</td> <td style="font-size: 10pt; font-weight: bold"> </td> <td style="font-size: 10pt; font-weight: bold; text-align: left"> </td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">5,535</div></td> <td style="white-space: nowrap; font-size: 10pt; font-weight: bold; text-align: left"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">3,860</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt; padding-left: 10pt">Inventory and other reserves</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">865</div></td> <td style="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"> </td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">3,024</div></td> <td style="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">47,256</div></td> <td style="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"> </td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">33,704</div></td> <td style="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"> </td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"> </td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Deferred income tax liabilities</td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"> </td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"> </td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left; padding-left: 10pt">Depreciation and amortization</td> <td style="font-size: 10pt; font-weight: bold"> </td> <td style="font-size: 10pt; font-weight: bold; text-align: left"> </td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">83,676</div></td> <td style="white-space: nowrap; font-size: 10pt; font-weight: bold; text-align: left"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">86,072</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left; padding-left: 10pt">Basis differences of partnerships and other entities</td> <td style="font-size: 10pt; font-weight: bold"> </td> <td style="font-size: 10pt; font-weight: bold; text-align: left"> </td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">769</div></td> <td style="white-space: nowrap; font-size: 10pt; font-weight: bold; text-align: left"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">793</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt; padding-left: 10pt">Prepaid and other expenses deducted for tax purposes</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,505</div></td> <td style="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"> </td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,276</div></td> <td style="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">85,950</div></td> <td style="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"> </td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">88,141</div></td> <td style="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"> </td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"> </td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Net deferred income tax asset (liability) before valuation allowance</td> <td style="font-size: 10pt; font-weight: bold"> </td> <td style="font-size: 10pt; font-weight: bold; text-align: left"> </td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(38,694</div></td> <td style="white-space: nowrap; font-size: 10pt; font-weight: bold; text-align: left">)</td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(54,437</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Valuation allowance</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">603</div></td> <td style="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"> </td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">965</div></td> <td style="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"> </td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"> </td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left; padding-bottom: 2.5pt">Net deferred income tax asset (liability)</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-size: 10pt; font-weight: bold; text-align: left">$</td> <td style="border-bottom: Black 2.5pt double; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(39,297</div></td> <td style="white-space: nowrap; border-bottom: Black 2.5pt double; font-size: 10pt; font-weight: bold; text-align: left">)</td> <td style="font-size: 10pt; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: left">$</td> <td style="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(55,402</div></td> <td style="white-space: nowrap; border-bottom: Black 2.5pt double; font-size: 10pt; text-align: left">)</td> </tr> </table> </div> <div style=" font-size: 10pt; margin: 0pt 0"> </div> <div style=" font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in">The recoverability of deferred income tax assets is dependent on generating sufficient taxable income before the <div style="display: inline; font-style: italic; font: inherit;">20</div> year loss carry-forward limitation. Although realization is <div style="display: inline; font-style: italic; font: inherit;">not</div> assured, the Company believes it is more likely than <div style="display: inline; font-style: italic; font: inherit;">not</div> that the deferred tax asset will be realized. The amount of the deferred tax asset considered realizable, however, could be reduced in the near term if estimates of future taxable income during the carry-forward period are reduced.</div> <div style=" font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in"> </div> <div style=" font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in">The Company has gross operating loss carry-forwards as follows:</div> <div style=" font-size: 10pt; margin: 0pt 0"> </div> <div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; margin-left: 46px; min-width: 700px;"> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; font-size: 10pt; text-align: right"> </td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td colspan="7" style="white-space: nowrap; font-size: 10pt; text-align: center; border-bottom: Black 1pt solid">Loss carry forward</td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td colspan="7" style="white-space: nowrap; font-size: 10pt; text-align: center; border-bottom: Black 1pt solid">Gross losses not recognized</td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td colspan="7" style="white-space: nowrap; font-size: 10pt; text-align: center; border-bottom: Black 1pt solid">Net</td> </tr> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; font-size: 10pt"> </td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="3" style="border-bottom: Black 1pt solid; white-space: nowrap; font-size: 10pt; font-weight: bold; text-align: right">2020</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; padding-bottom: 1pt"> </td> <td colspan="3" style="border-bottom: Black 1pt solid; white-space: nowrap; font-size: 10pt; text-align: right">2019</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="3" style="border-bottom: Black 1pt solid; white-space: nowrap; font-size: 10pt; font-weight: bold; text-align: right">2020</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; padding-bottom: 1pt"> </td> <td colspan="3" style="border-bottom: Black 1pt solid; white-space: nowrap; font-size: 10pt; text-align: right">2019</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="3" style="border-bottom: Black 1pt solid; white-space: nowrap; font-size: 10pt; font-weight: bold; text-align: right">2020</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; padding-bottom: 1pt"> </td> <td colspan="3" style="border-bottom: Black 1pt solid; white-space: nowrap; font-size: 10pt; text-align: right">2019</td> </tr> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; font-size: 10pt"> </td> <td style="font-size: 10pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt"> </td> <td style="font-size: 10pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt"> </td> <td style="font-size: 10pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt"> </td> <td style="font-size: 10pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt"> </td> <td style="font-size: 10pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt"> </td> <td style="font-size: 10pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 34%; font-size: 10pt">Canada</td> <td style="width: 1%; font-size: 10pt; font-weight: bold"> </td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">$</td> <td style="width: 8%; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,364</div></td> <td style="white-space: nowrap; width: 1%; font-size: 10pt; font-weight: bold; text-align: left"> </td> <td style="width: 1%; font-size: 10pt"> </td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td> <td style="width: 8%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">4,430</div></td> <td style="white-space: nowrap; width: 1%; font-size: 10pt; text-align: left"> </td> <td style="width: 1%; font-size: 10pt; font-weight: bold"> </td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">$</td> <td style="width: 8%; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="white-space: nowrap; width: 1%; font-size: 10pt; font-weight: bold; text-align: left"> </td> <td style="width: 1%; font-size: 10pt"> </td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td> <td style="width: 8%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="white-space: nowrap; width: 1%; font-size: 10pt; text-align: left"> </td> <td style="width: 1%; font-size: 10pt; font-weight: bold"> </td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">$</td> <td style="width: 8%; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,364</div></td> <td style="white-space: nowrap; width: 1%; font-size: 10pt; font-weight: bold; text-align: left"> </td> <td style="width: 1%; font-size: 10pt"> </td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td> <td style="width: 8%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">4,430</div></td> <td style="white-space: nowrap; width: 1%; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">United States</td> <td style="font-size: 10pt; font-weight: bold"> </td> <td style="font-size: 10pt; font-weight: bold; text-align: left"> </td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">13,733</div></td> <td style="white-space: nowrap; font-size: 10pt; font-weight: bold; text-align: left"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">18,615</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; font-weight: bold"> </td> <td style="font-size: 10pt; font-weight: bold; text-align: left"> </td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">11,417</div></td> <td style="white-space: nowrap; font-size: 10pt; font-weight: bold; text-align: left"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">15,840</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; font-weight: bold"> </td> <td style="font-size: 10pt; font-weight: bold; text-align: left"> </td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">2,316</div></td> <td style="white-space: nowrap; font-size: 10pt; font-weight: bold; text-align: left"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">2,775</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> </tr> </table> </div> <div style=" font-size: 10pt; margin: 0pt 0"> </div> <div style=" font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in">These amounts above are available to reduce future federal, state, and provincial income taxes in their respective jurisdictions. Net operating loss carry-forward balances attributable to the United States and Canada expire over the next <div style="display: inline; font-style: italic; font: inherit;">6</div> to <div style="display: inline; font-style: italic; font: inherit;">20</div> years.</div> <div style=" font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in"> </div> <div style=" font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in">Cumulative unremitted earnings of US and foreign subsidiaries approximated <div style="display: inline; font-style: italic; font: inherit;">$628,142</div> as at <div style="display: inline; font-style: italic; font: inherit;"> December 31, 2020 (</div><div style="display: inline; font-style: italic; font: inherit;">2019</div> - <div style="display: inline; font-style: italic; font: inherit;">$528,519</div>). Income tax is <div style="display: inline; font-style: italic; font: inherit;">not</div> provided on the unremitted earnings of US and foreign subsidiaries because it has been the practice and is the intention of the Company to reinvest these earnings indefinitely in these subsidiaries.</div> <div style=" font-size: 10pt; margin: 0pt 0"> </div> <div style=" font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in">The gross unrecognized tax benefits are <div style="display: inline; font-style: italic; font: inherit;">$148</div> (<div style="display: inline; font-style: italic; font: inherit;">2019</div> - <div style="display: inline; font-style: italic; font: inherit;">$148</div>). Of this balance, <div style="display: inline; font-style: italic; font: inherit;">$148</div> (<div style="display: inline; font-style: italic; font: inherit;">2019</div> - <div style="display: inline; font-style: italic; font: inherit;">$148</div>) would affect the Company's effective tax rate if recognized. For the year ended <div style="display: inline; font-style: italic; font: inherit;"> December 31, 2020, </div>there was <div style="display: inline; font-style: italic; font: inherit;">no</div> adjustment to interest and penalties related to provisions for income tax (<div style="display: inline; font-style: italic; font: inherit;">2019</div> - <div style="display: inline; font-style: italic; font: inherit;">nil</div>). As at <div style="display: inline; font-style: italic; font: inherit;"> December 31, 2020, </div>the Company had accrued <div style="display: inline; font-style: italic; font: inherit;">$38</div> (<div style="display: inline; font-style: italic; font: inherit;">2019</div> - <div style="display: inline; font-style: italic; font: inherit;">$38</div>) for potential income tax related interest and penalties.</div> <div style=" font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in"> </div> <div style=" font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in">The Company's significant tax jurisdictions include the United States and Canada. The number of years with open tax audits varies depending on the tax jurisdictions. Generally, income tax returns filed with the Canada Revenue Agency and related provinces are open for <div style="display: inline; font-style: italic; font: inherit;">three</div> to <div style="display: inline; font-style: italic; font: inherit;">four</div> years and income tax returns filed with the U.S. Internal Revenue Service and related states are open for <div style="display: inline; font-style: italic; font: inherit;">three</div> to <div style="display: inline; font-style: italic; font: inherit;">five</div> years.</div> <div style=" font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in"> </div> <div style=" font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in">The Company does <div style="display: inline; font-style: italic; font: inherit;">not</div> currently expect any other material impact on earnings to result from the resolution of matters related to open taxation years, other than noted above. Actual settlements <div style="display: inline; font-style: italic; font: inherit;"> may </div>differ from the amounts accrued. The Company has, as part of its analysis, made its current estimates based on facts and circumstances known to date and cannot predict changes in facts and circumstances that <div style="display: inline; font-style: italic; font: inherit;"> may </div>affect its current estimates.</div></div>
35865000
27147000
<div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style=" margin: 0pt 0 0pt 0.5in; font-size: 10pt"><div style="display: inline; font-weight: bold;">Income tax</div></div> <div style=" font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in">Income tax has been provided using the asset and liability method whereby deferred income tax assets and liabilities are recognized for the expected future income tax consequences of events that have been recognized in the consolidated financial statements or income tax returns. Deferred income tax assets and liabilities are measured using enacted income tax rates expected to apply to taxable income in the years in which temporary differences are expected to reverse, be recovered or settled. The effect on deferred income tax assets and liabilities of a change in income tax rates is recognized in earnings in the period in which the change occurs. A valuation allowance is recorded unless it is more likely than <div style="display: inline; font-style: italic; font: inherit;">not</div> that realization of a deferred income tax asset will occur based on available evidence.</div> <div style=" font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in"> </div> <div style=" font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in">The Company recognizes uncertainty in tax positions taken or expected to be taken in a tax return by recording a liability for unrecognized tax benefits on its balance sheet. Uncertainties are quantified by applying a prescribed recognition threshold and measurement attribute.</div> <div style=" font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in"> </div> <div style=" font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in">The Company classifies interest and penalties associated with income tax positions in income tax expense.</div></div></div>
-7463000
-2402000
38545000
-53128000
307000
820000
1566000
3081000
2153000
882000
-328000
49031000
31562000
7397000
4147000
13710000
858000
-8908000
17396000
4642000
4644000
72270000
7228000
13055000
11808000
44235000
7107000
22808000
13069000
1618000
1033000
428098
437204
<div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;"> <tr style="vertical-align: top; text-align: justify"> <td style="width: 0; text-align: right"></td> <td style="width: 0.5in"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-style: italic; font: inherit;">10.</div></div></div></td> <td style="text-align: justify"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-weight: bold;">Intangible assets</div></div></td> </tr> </table> <div style=" margin: 0"> </div> <div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; margin-left: 46px; min-width: 700px;"> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; font-size: 10pt; font-weight: bold">December 31, 2020</td> <td style="font-size: 10pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; text-align: right">Gross</td> <td style="font-size: 10pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; text-align: right"> </td> <td style="font-size: 10pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; text-align: right"> </td> </tr> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; font-size: 10pt"> </td> <td style="font-size: 10pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; text-align: right">carrying</td> <td style="font-size: 10pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; text-align: right">Accumulated</td> <td style="font-size: 10pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; text-align: right"> </td> </tr> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; font-size: 10pt"> </td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; text-align: right; border-bottom: Black 1pt solid">amount</td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; text-align: right; border-bottom: Black 1pt solid">amortization</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">Net</td> </tr> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; font-size: 10pt"> </td> <td style="font-size: 10pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; text-align: right"> </td> <td style="font-size: 10pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; text-align: right"> </td> <td style="font-size: 10pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 55%; font-size: 10pt; text-align: left">Customer relationships</td> <td style="width: 1%; font-size: 10pt"> </td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td> <td style="width: 12%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">403,976</div></td> <td style="white-space: nowrap; width: 1%; font-size: 10pt; text-align: left"> </td> <td style="width: 1%; font-size: 10pt"> </td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td> <td style="width: 12%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">103,884</div></td> <td style="white-space: nowrap; width: 1%; font-size: 10pt; text-align: left"> </td> <td style="width: 1%; font-size: 10pt; font-weight: bold"> </td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">$</td> <td style="width: 12%; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">300,092</div></td> <td style="white-space: nowrap; width: 1%; font-size: 10pt; font-weight: bold; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Franchise rights</td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">49,925</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">29,930</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; font-weight: bold"> </td> <td style="font-size: 10pt; font-weight: bold; text-align: left"> </td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">19,995</div></td> <td style="white-space: nowrap; font-size: 10pt; font-weight: bold; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Trademarks and trade names</td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">29,765</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">20,051</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; font-weight: bold"> </td> <td style="font-size: 10pt; font-weight: bold; text-align: left"> </td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">9,714</div></td> <td style="white-space: nowrap; font-size: 10pt; font-weight: bold; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Management contracts and other</td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">94,514</div></td> <td style="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">45,553</div></td> <td style="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">48,961</div></td> <td style="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; padding-bottom: 2.5pt"> </td> <td style="font-size: 10pt; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: left">$</td> <td style="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">578,180</div></td> <td style="white-space: nowrap; border-bottom: Black 2.5pt double; font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: left">$</td> <td style="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">199,418</div></td> <td style="white-space: nowrap; border-bottom: Black 2.5pt double; font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-size: 10pt; font-weight: bold; text-align: left">$</td> <td style="border-bottom: Black 2.5pt double; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">378,762</div></td> <td style="white-space: nowrap; border-bottom: Black 2.5pt double; font-size: 10pt; font-weight: bold; text-align: left"> </td> </tr> </table> </div> <div style=" margin: 0"> </div> <div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; margin-left: 46px; min-width: 700px;"> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; font-size: 10pt"> </td> <td style="font-size: 10pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; text-align: right">Gross</td> <td style="font-size: 10pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; text-align: right"> </td> <td style="font-size: 10pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; text-align: right"> </td> </tr> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; font-size: 10pt">December 31, 2019</td> <td style="font-size: 10pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;"><div style="display: inline; font-style: italic; font: inherit;">carrying</div></div></td> <td style="font-size: 10pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;"><div style="display: inline; font-style: italic; font: inherit;">Accumulated</div></div></td> <td style="font-size: 10pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;"><div style="display: inline; font-style: italic; font: inherit;"> </div></div></td> </tr> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; font-size: 10pt"> </td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; text-align: right; border-bottom: Black 1pt solid"><div style="display: inline; font-style: italic; font: inherit;"><div style="display: inline; font-style: italic; font: inherit;">amount</div></div></td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; text-align: right; border-bottom: Black 1pt solid"><div style="display: inline; font-style: italic; font: inherit;"><div style="display: inline; font-style: italic; font: inherit;">amortization</div></div></td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; text-align: right; border-bottom: Black 1pt solid"><div style="display: inline; font-style: italic; font: inherit;"><div style="display: inline; font-style: italic; font: inherit;">Net</div></div></td> </tr> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; font-size: 10pt"> </td> <td style="font-size: 10pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; text-align: right"> </td> <td style="font-size: 10pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; text-align: right"> </td> <td style="font-size: 10pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 55%; font-size: 10pt; text-align: left">Customer relationships</td> <td style="width: 1%; font-size: 10pt"> </td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td> <td style="width: 12%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">360,228</div></td> <td style="white-space: nowrap; width: 1%; font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font: inherit;"> </div></td> <td style="width: 1%; font-size: 10pt"> </td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td> <td style="width: 12%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">71,474</div></td> <td style="white-space: nowrap; width: 1%; font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font: inherit;"> </div></td> <td style="width: 1%; font-size: 10pt"> </td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td> <td style="width: 12%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">288,754</div></td> <td style="white-space: nowrap; width: 1%; font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font: inherit;"> </div></td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Franchise rights</td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">49,806</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font: inherit;"> </div></td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">26,707</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font: inherit;"> </div></td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">23,099</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font: inherit;"> </div></td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Trademarks and trade names</td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">30,303</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font: inherit;"> </div></td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">18,543</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font: inherit;"> </div></td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">11,760</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font: inherit;"> </div></td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Management contracts and other</td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">79,073</div></td> <td style="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font: inherit;"> </div></td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">36,462</div></td> <td style="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font: inherit;"> </div></td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">42,611</div></td> <td style="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font: inherit;"> </div></td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; padding-bottom: 2.5pt"> </td> <td style="font-size: 10pt; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: left">$</td> <td style="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">519,410</div></td> <td style="white-space: nowrap; border-bottom: Black 2.5pt double; font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font: inherit;"> </div></td> <td style="font-size: 10pt; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: left">$</td> <td style="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">153,186</div></td> <td style="white-space: nowrap; border-bottom: Black 2.5pt double; font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font: inherit;"> </div></td> <td style="font-size: 10pt; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: left">$</td> <td style="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">366,224</div></td> <td style="white-space: nowrap; border-bottom: Black 2.5pt double; font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font: inherit;"> </div></td> </tr> </table> </div> <div style=" font-size: 10pt; margin: 0pt 0"> </div> <div style=" margin: 0pt 0 0pt 0.5in; font-size: 10pt; text-align: justify"><div style="display: inline; font-size: 10pt">During the year ended <div style="display: inline; font-style: italic; font: inherit;"> December 31, 2020, </div>the Company acquired the following intangible assets:</div></div> <div style=" margin: 0"> </div> <div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; margin-left: 46px; min-width: 700px;"> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; font-size: 10pt"> </td> <td style="font-size: 10pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; text-align: right"> </td> <td style="font-size: 10pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; text-align: right">Estimated</td> </tr> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; font-size: 10pt"> </td> <td style="font-size: 10pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; text-align: right"> </td> <td style="font-size: 10pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; text-align: right">weighted</td> </tr> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; font-size: 10pt"> </td> <td style="font-size: 10pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; text-align: right"> </td> <td style="font-size: 10pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; text-align: right">average</td> </tr> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; font-size: 10pt"> </td> <td style="font-size: 10pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; text-align: right"> </td> <td style="font-size: 10pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; text-align: right">amortization</td> </tr> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; font-size: 10pt"> </td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; text-align: right; border-bottom: Black 1pt solid">Amount</td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; text-align: right; border-bottom: Black 1pt solid">period (years)</td> </tr> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; font-size: 10pt"> </td> <td style="font-size: 10pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; text-align: right"> </td> <td style="font-size: 10pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; text-align: right"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 70%; font-size: 10pt; text-align: left">Customer relationships</td> <td style="width: 1%; font-size: 10pt"> </td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td> <td style="width: 12%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">43,665</div></td> <td style="white-space: nowrap; width: 1%; font-size: 10pt; text-align: left"> </td> <td style="width: 1%; font-size: 10pt"> </td> <td style="width: 1%; font-size: 10pt; text-align: left"> </td> <td style="width: 12%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">10.0</div></td> <td style="white-space: nowrap; width: 1%; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Trademarks and trade names</td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">310</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">2.0</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Management Contracts and other</td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">13,907</div></td> <td style="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; font-size: 10pt; text-align: left"> </td> <td style="padding-bottom: 1pt; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">10.0</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; padding-bottom: 2.5pt"> </td> <td style="font-size: 10pt; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: left">$</td> <td style="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">57,882</div></td> <td style="white-space: nowrap; border-bottom: Black 2.5pt double; font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; padding-bottom: 2.5pt"> </td> <td style="padding-bottom: 2.5pt; font-size: 10pt; text-align: left"> </td> <td style="padding-bottom: 2.5pt; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">10.0</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> </tr> </table> </div> <div style=" font-size: 10pt; margin: 0pt 0"> </div> <div style=" font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in">The following is the estimated annual amortization expense for recorded intangible assets for each of the next <div style="display: inline; font-style: italic; font: inherit;">five</div> years ending <div style="display: inline; font-style: italic; font: inherit;"> December </div><div style="display: inline; font-style: italic; font: inherit;">31:</div></div> <div style=" font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in"> </div> <div> <table cellpadding="0" cellspacing="0" align="center" style="border-collapse: collapse; min-width: 700px;"> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 1%; font-size: 10pt; text-align: left"> </td> <td style="width: 48%; font-size: 10pt; text-align: right">2021</td> <td style="white-space: nowrap; width: 1%; font-size: 10pt; text-align: left"> </td> <td style="width: 1%; font-size: 10pt"> </td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td> <td style="width: 47%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">42,298</div></td> <td style="white-space: nowrap; width: 1%; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right">2022</td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">40,823</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right">2023</td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">39,373</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right">2024</td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">37,534</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right">2025</td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">36,759</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> </tr> </table> </div></div>
378762000
366224000
-24318000
-32080000
-24318000
-32080000
22305000
29772000
35000
6510000
16531000
15347000
141979000
94511000
<div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style=" margin: 0pt 0 0pt 0.5in; font-size: 10pt"><div style="display: inline; font-weight: bold;">Inventories</div></div> <div style=" font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in">Inventories are carried at the lower of cost and net realizable value. Cost is determined using the weighted average method. Work-in-progress inventory relates to construction contracts and real estate project management projects in process.</div></div></div>
103969000
66514000
<div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style=" font-size: 10pt; margin: 0pt 0 0pt 0.5in"><div style="display: inline; font-weight: bold;">Leases</div></div> <div style=" font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in">The Company adopted ASU <div style="display: inline; font-style: italic; font: inherit;">842,</div> Leases, as of <div style="display: inline; font-style: italic; font: inherit;"> January </div><div style="display: inline; font-style: italic; font: inherit;">1,</div> <div style="display: inline; font-style: italic; font: inherit;">2019,</div> using the modified retrospective approach. In addition, the Company elected the package of practical expedients permitted under the transition guidance within the new standard, which among other things, allowed the Company to carry forward the historical lease classification.</div> <div style=" font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in"> </div> <div style=" font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in">The Company has lease agreements with lease and non-lease components, and has elected to account for each lease component (e.g., fixed rent payments) separately from the non-lease components (e.g., common-area maintenance costs). The Company has also elected <div style="display: inline; font-style: italic; font: inherit;">not</div> to recognize the right-of-use assets and lease liabilities for short-term leases that have a lease term of <div style="display: inline; font-style: italic; font: inherit;">12</div> months or less. Leases are recognized on the balance sheet when the lease term commences, and the associated lease payments are recognized as an expense on a straight-line basis over the lease term.</div> <div style=" font-size: 10pt; margin: 0pt 0"><div style="display: inline; font-weight: bold;"> </div></div> <div style=" font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in">At lease commencement, which is generally when the Company takes possession of the asset, the Company records a lease liability and a corresponding right-of-use asset. Lease liabilities represent the present value of minimum lease payments over the expected lease term, which includes options to extend or terminate the lease when it is reasonably certain those options will be exercised. The present value of the lease liability is determined using the Company's incremental collateralized borrowing rate at the lease commencement.</div> <div style=" font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in"> </div> <!-- Field: /Page --> <div style=" margin: 0pt 0 0pt 0.5in; font-size: 10pt; text-align: justify">Minimum lease payments include base rent, fixed escalation of rental payments, and rental payments that are adjusted periodically depending on a rate or index. In determining minimum lease payments, the Company does <div style="display: inline; font-style: italic; font: inherit;">not</div> separate non-lease components for real estate leases. Non-lease components are generally services that the lessor performs for the Company associated with the leased asset, such as common area maintenance.</div> <div style=" font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in"> </div> <div style=" font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in">Right-of-use assets represent the right to control the use of the leased asset during the lease and are initially recognized in an amount equal to the lease liability. In addition, prepaid rent, initial direct costs, and adjustments for lease incentives are components of the right-of-use asset. Over the lease term the lease expense is amortized on a straight-line basis beginning on the lease commencement date. Right-of-use assets are assessed for impairment as part of the impairment of long-lived assets, which is performed whenever events or changes in circumstances indicate that the carrying amount of an asset or asset group <div style="display: inline; font-style: italic; font: inherit;"> may </div><div style="display: inline; font-style: italic; font: inherit;">not</div> be recoverable.</div></div></div>
<div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; margin-left: 46px; min-; min-width: 700px;"> <tr style="vertical-align: bottom"> <td style="text-align: left; white-space: nowrap; font-size: 10pt"> </td> <td style="font-size: 10pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 85%; font-size: 10pt; text-align: left">2021</td> <td style="width: 1%; font-size: 10pt"> </td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td> <td style="width: 12%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">47,803</div></td> <td style="white-space: nowrap; width: 1%; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">2022</td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">39,607</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">2023</td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">28,175</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">2024</td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">20,863</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">2025</td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">14,985</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; font-size: 10pt; padding-bottom: 1pt">Thereafter</td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">29,984</div></td> <td style="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; font-size: 10pt; text-align: left">Total future minimum lease payments</td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">181,417</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Less imputed interest</td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(17,309</div></td> <td style="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left; font-size: 10pt; padding-bottom: 1pt">Total</td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">164,108</div></td> <td style="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td> </tr> </table></div>
181417000
29984000
47803000
14985000
20863000
28175000
39607000
17309000
P1Y
P11Y
P10Y
P10Y
<div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;"> <tr style="vertical-align: top"> <td style="width: 0.5in"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-style: italic; font: inherit;">6.</div></div></td> <td><div style="display: inline; font-weight: bold;">Leases </div></td> </tr> </table> <div style=" font-size: 10pt; text-align: justify; margin: 0pt 0"> </div> <div style=" font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in">The Company has operating leases for corporate offices, copiers, and certain equipment. Its leases have remaining lease terms of <div style="display: inline; font-style: italic; font: inherit;">1</div> year to <div style="display: inline; font-style: italic; font: inherit;">11</div> years, some of which <div style="display: inline; font-style: italic; font: inherit;"> may </div>include options to extend the leases for up to <div style="display: inline; font-style: italic; font: inherit;">10</div> years, and some of which <div style="display: inline; font-style: italic; font: inherit;"> may </div>include options to terminate the leases within <div style="display: inline; font-style: italic; font: inherit;">1</div> year. The Company evaluates renewal terms on a lease by lease basis to determine if the renewal is reasonably certain. The amount of operating lease expense recorded in the statement of earnings for the <div style="display: inline; font-style: italic; font: inherit;">twelve</div> months ended <div style="display: inline; font-style: italic; font: inherit;"> December </div><div style="display: inline; font-style: italic; font: inherit;">31,</div> <div style="display: inline; font-style: italic; font: inherit;">2020</div> was <div style="display: inline; font-style: italic; font: inherit;">$37,788</div> (<div style="display: inline; font-style: italic; font: inherit;">2019</div> - <div style="display: inline; font-style: italic; font: inherit;">$32,161</div>).</div> <div style=" margin: 0pt 0 0pt 0.5in; font-size: 10pt; text-align: justify"> </div> <div style=" margin: 0pt 0 0pt 0.5in; font-size: 10pt; text-align: justify">Other information related to leases was as follows (in thousands, except lease term and discount rate):</div> <div style=" font-size: 10pt; margin: 0pt 0"> </div> <div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; margin-left: 46px; min-width: 700px;"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt; white-space: nowrap; font-size: 10pt; font-weight: bold">Supplemental Cash Flows Information, twelve months ended December 31</td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; text-align: right; border-bottom: Black 1pt solid">2020</td> </tr> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; font-size: 10pt"> </td> <td style="font-size: 10pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 85%; font-size: 10pt; text-align: left">Cash paid for amounts included in the measurement of operating lease liabilities</td> <td style="width: 1%; font-size: 10pt"> </td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td> <td style="width: 12%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">37,018</div></td> <td style="white-space: nowrap; width: 1%; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Right-of-use assets obtained in exchange for operating lease obligation</td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left">$</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">50,963</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"> </td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Weighted Average Remaining Operating Lease Term (years)</td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font: inherit;">5 </div></div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt">Weighted Average Discount Rate</td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">3.7</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left">%</td> </tr> </table> </div> <div style=" font-size: 10pt; margin: 0pt 0"> </div> <div style=" margin: 0pt 0 0pt 0.5in; font-size: 10pt; text-align: justify"><div style="display: inline; font-size: 10pt">Future minimum operating lease payments under non-cancellable leases as of <div style="display: inline; font-style: italic; font: inherit;"> December 31, 2020 </div>were as follows:</div></div> <div style=" margin: 0"> </div> <div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; margin-left: 46px; min-width: 700px;"> <tr style="vertical-align: bottom"> <td style="text-align: left; white-space: nowrap; font-size: 10pt"> </td> <td style="font-size: 10pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 85%; font-size: 10pt; text-align: left">2021</td> <td style="width: 1%; font-size: 10pt"> </td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td> <td style="width: 12%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">47,803</div></td> <td style="white-space: nowrap; width: 1%; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">2022</td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">39,607</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">2023</td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">28,175</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">2024</td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">20,863</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">2025</td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">14,985</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; font-size: 10pt; padding-bottom: 1pt">Thereafter</td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">29,984</div></td> <td style="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; font-size: 10pt; text-align: left">Total future minimum lease payments</td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">181,417</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Less imputed interest</td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(17,309</div></td> <td style="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left; font-size: 10pt; padding-bottom: 1pt">Total</td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">164,108</div></td> <td style="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td> </tr> </table> </div></div>
12631000
6316000
2196540000
1955469000
543751000
358206000
799357000
996714000
450000000
422369000
0.0025
0.005
4170000
4033000
440000000
533126000
761078000
56478000
5545000
589604000
589604000
604091000
766623000
779279000
56479000
391056000
54536000
56968000
0.01
0.015
<div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;"> <tr style="vertical-align: top; text-align: justify"> <td style="width: 0; text-align: right"></td> <td style="width: 0.5in"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-style: italic; font: inherit;">12.</div></div></div></td> <td style="text-align: justify"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-weight: bold;">Long-term debt</div></div></td> </tr> </table> <div style=" margin: 0"> </div> <div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; margin-left: 46px; min-width: 700px;"> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; font-size: 10pt"> </td> <td style="font-size: 10pt; font-weight: bold"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; font-weight: bold; text-align: right">December 31,</td> </tr> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; font-size: 10pt"> </td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2020</td> </tr> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; font-size: 10pt"> </td> <td style="font-size: 10pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; text-align: right"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 85%; font-size: 10pt; text-align: left">Credit Agreement</td> <td style="width: 1%; font-size: 10pt; font-weight: bold"> </td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">$</td> <td style="width: 12%; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">425,750</div></td> <td style="white-space: nowrap; width: 1%; font-size: 10pt; font-weight: bold; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Senior Notes</td> <td style="font-size: 10pt; font-weight: bold"> </td> <td style="font-size: 10pt; font-weight: bold; text-align: left"> </td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">150,000</div></td> <td style="white-space: nowrap; font-size: 10pt; font-weight: bold; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Capital leases maturing at various dates through 2026</td> <td style="font-size: 10pt; font-weight: bold"> </td> <td style="font-size: 10pt; font-weight: bold; text-align: left"> </td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">10,898</div></td> <td style="white-space: nowrap; font-size: 10pt; font-weight: bold; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Other long-term debt maturing at various dates up to 2023</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">2,956</div></td> <td style="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; font-weight: bold"> </td> <td style="font-size: 10pt; font-weight: bold; text-align: left"> </td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">589,604</div></td> <td style="white-space: nowrap; font-size: 10pt; font-weight: bold; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Less: current portion</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">56,478</div></td> <td style="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left; padding-bottom: 2.5pt">Long-term debt - non-current</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-size: 10pt; font-weight: bold; text-align: left">$</td> <td style="border-bottom: Black 2.5pt double; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">533,126</div></td> <td style="white-space: nowrap; border-bottom: Black 2.5pt double; font-size: 10pt; font-weight: bold; text-align: left"> </td> </tr> </table> </div> <div style=" font-size: 10pt; margin: 0pt 0"> </div> <div style=" font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in">The Company has <div style="display: inline; font-style: italic; font: inherit;">$150</div> million of Senior Notes bearing interest at a rate of <div style="display: inline; font-style: italic; font: inherit;">3.84%.</div> The Senior Notes are due on <div style="display: inline; font-style: italic; font: inherit;"> January </div><div style="display: inline; font-style: italic; font: inherit;">16,</div> <div style="display: inline; font-style: italic; font: inherit;">2025,</div> with <div style="display: inline; font-style: italic; font: inherit;">five</div> annual equal repayments beginning on <div style="display: inline; font-style: italic; font: inherit;"> January </div><div style="display: inline; font-style: italic; font: inherit;">16,</div> <div style="display: inline; font-style: italic; font: inherit;">2021.</div></div> <div style=" font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in"> </div> <div style=" font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in">The Company has entered into the Credit Agreement with a syndicate of lenders. The Credit Agreement is comprised of a committed multi-currency revolving credit facility of <div style="display: inline; font-style: italic; font: inherit;">$450,000</div> (the “Facility”) and a term loan (drawn in a single advance) in the aggregate amount of <div style="display: inline; font-style: italic; font: inherit;">$440,000</div> (the “Term Loan”). The Facility portion of the Credit Agreement has a term ending on <div style="display: inline; font-style: italic; font: inherit;"> January </div><div style="display: inline; font-style: italic; font: inherit;">17,</div> <div style="display: inline; font-style: italic; font: inherit;">2023</div> and bears interest at <div style="display: inline; font-style: italic; font: inherit;">0.25%</div> to <div style="display: inline; font-style: italic; font: inherit;">2.50%</div> over floating preference rates, depending on certain leverage ratios. The Term Loan portion of the Credit Agreement has a term ending on <div style="display: inline; font-style: italic; font: inherit;"> June </div><div style="display: inline; font-style: italic; font: inherit;">21,</div> <div style="display: inline; font-style: italic; font: inherit;">2024,</div> with repayments of <div style="display: inline; font-style: italic; font: inherit;">5%</div> per annum, paid quarterly, beginning in <div style="display: inline; font-style: italic; font: inherit;"> September 2020, </div>with the balance payable at maturity, and bears interest at <div style="display: inline; font-style: italic; font: inherit;">0.25%</div> to <div style="display: inline; font-style: italic; font: inherit;">2.50%</div> over floating preference rates, depending on certain leverage ratios. The weighted average interest rate for <div style="display: inline; font-style: italic; font: inherit;">2020</div> was <div style="display: inline; font-style: italic; font: inherit;">3.4%.</div> The Facility had <div style="display: inline; font-style: italic; font: inherit;">$422,369</div> of available un-drawn credit as at <div style="display: inline; font-style: italic; font: inherit;"> December 31, 2020. </div>As of <div style="display: inline; font-style: italic; font: inherit;"> December 31, 2020, </div>letters of credit in the amount of <div style="display: inline; font-style: italic; font: inherit;">$12,631</div> were outstanding (<div style="display: inline; font-style: italic; font: inherit;">$6,316</div> as at <div style="display: inline; font-style: italic; font: inherit;"> December 31, 2019). </div>The Credit Agreement requires a commitment fee of <div style="display: inline; font-style: italic; font: inherit;">0.25%</div> to <div style="display: inline; font-style: italic; font: inherit;">0.50%</div> of the unused portion, depending on certain leverage ratios. The Company <div style="display: inline; font-style: italic; font: inherit;"> may </div>repay amounts owing under the Credit Agreement at any time without penalty. The Facility is available to fund working capital requirements (including acquisitions and any associated contingent purchase consideration) and other general corporate purposes. The Term Loan was implemented in order to substantially finance the purchase price for Global Restoration in the prior year.</div> <div style=" font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in"> </div> <div style=" font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in">The indebtedness under the Credit Agreement and the Senior Notes rank equally in terms of seniority. The Company has granted the lenders under the Credit Agreement and the holders of the Senior Notes various security, including an interest in all of our assets. The Company is prohibited under the Credit Agreement and the Senior Notes from undertaking certain acquisitions and dispositions, and incurring certain indebtedness and encumbrances, without prior approval of the lenders under the Credit Agreement and the holders of the Senior Notes.</div> <div style=" font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in"> </div> <div style=" font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in">The effective interest rate on the Company's long-term debt for the year ended <div style="display: inline; font-style: italic; font: inherit;"> December 31, 2020 </div>was <div style="display: inline; font-style: italic; font: inherit;">3.4%</div> (<div style="display: inline; font-style: italic; font: inherit;">2019</div> – <div style="display: inline; font-style: italic; font: inherit;">4.4%</div>). The estimated aggregate amount of principal repayments on long-term debt required in each of the next <div style="display: inline; font-style: italic; font: inherit;">five</div> years ending <div style="display: inline; font-style: italic; font: inherit;"> December </div><div style="display: inline; font-style: italic; font: inherit;">31</div> and thereafter to meet the retirement provisions are as follows:</div> <div style=" font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in"> </div> <div> <table cellpadding="0" cellspacing="0" align="center" style="border-collapse: collapse; min-width: 700px;"> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 1%; font-size: 10pt; text-align: left"> </td> <td style="width: 48%; font-size: 10pt; text-align: right">2021</td> <td style="white-space: nowrap; width: 1%; font-size: 10pt; text-align: left"> </td> <td style="width: 1%; font-size: 10pt"> </td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td> <td style="width: 47%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">56,479</div></td> <td style="white-space: nowrap; width: 1%; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right">2022</td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">56,968</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right">2023</td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">54,536</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right">2024</td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">391,056</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-size: 10pt">2025 and thereafter</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">30,565</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> </tr> </table> </div></div>
<div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;"> <tr style="vertical-align: top"> <td style="width: 0"></td> <td style="width: 0.5in"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-style: italic; font: inherit;">13.</div></div></td> <td><div style="display: inline; font-weight: bold;">Redeemable non-controlling interests</div></td> </tr> </table> <div style=" font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in"> </div> <div style=" font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in">The minority equity positions in the Company's subsidiaries are referred to as redeemable non-controlling interests (“RNCI”). The RNCI are considered to be redeemable securities. Accordingly, the RNCI is recorded at the greater of (i) the redemption amount or (ii) the amount initially recorded as RNCI at the date of inception of the minority equity position. This amount is recorded in the “mezzanine” section of the balance sheet, outside of shareholders' equity. Changes in the RNCI amount are recognized immediately as they occur. The following table provides a reconciliation of the beginning and ending RNCI amounts:</div> <div style=" font-size: 10pt; margin: 0pt 0"> </div> <div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; margin-left: 46px; min-width: 700px;"> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; font-size: 10pt"> </td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2020</td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; text-align: right; border-bottom: Black 1pt solid">2019</td> </tr> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; font-size: 10pt"> </td> <td style="font-size: 10pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt"> </td> <td style="font-size: 10pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 70%; font-size: 10pt">Balance, January 1</td> <td style="width: 1%; font-size: 10pt; font-weight: bold"> </td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">$</td> <td style="width: 12%; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">174,662</div></td> <td style="white-space: nowrap; width: 1%; font-size: 10pt; font-weight: bold; text-align: left"> </td> <td style="width: 1%; font-size: 10pt"> </td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td> <td style="width: 12%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">151,585</div></td> <td style="white-space: nowrap; width: 1%; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt">RNCI share of earnings</td> <td style="font-size: 10pt; font-weight: bold"> </td> <td style="font-size: 10pt; font-weight: bold; text-align: left"> </td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">6,354</div></td> <td style="white-space: nowrap; font-size: 10pt; font-weight: bold; text-align: left"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">7,874</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">RNCI redemption increment</td> <td style="font-size: 10pt; font-weight: bold"> </td> <td style="font-size: 10pt; font-weight: bold; text-align: left"> </td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">15,977</div></td> <td style="white-space: nowrap; font-size: 10pt; font-weight: bold; text-align: left"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">16,105</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Distributions paid to RNCI</td> <td style="font-size: 10pt; font-weight: bold"> </td> <td style="font-size: 10pt; font-weight: bold; text-align: left"> </td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(5,084</div></td> <td style="white-space: nowrap; font-size: 10pt; font-weight: bold; text-align: left">)</td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(5,725</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Purchases of interests from RNCI, net</td> <td style="font-size: 10pt; font-weight: bold"> </td> <td style="font-size: 10pt; font-weight: bold; text-align: left"> </td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(20,231</div></td> <td style="white-space: nowrap; font-size: 10pt; font-weight: bold; text-align: left">)</td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(30,648</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">RNCI recognized on business acquisitions</td> <td style="font-size: 10pt; font-weight: bold"> </td> <td style="font-size: 10pt; font-weight: bold; text-align: left"> </td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">21,293</div></td> <td style="white-space: nowrap; font-size: 10pt; font-weight: bold; text-align: left"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">35,307</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; padding-bottom: 1pt">Other</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">63</div></td> <td style="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"> </td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">164</div></td> <td style="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; padding-bottom: 2.5pt">Balance, December 31</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-size: 10pt; font-weight: bold; text-align: left">$</td> <td style="border-bottom: Black 2.5pt double; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">193,034</div></td> <td style="white-space: nowrap; border-bottom: Black 2.5pt double; font-size: 10pt; font-weight: bold; text-align: left"> </td> <td style="font-size: 10pt; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: left">$</td> <td style="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">174,662</div></td> <td style="white-space: nowrap; border-bottom: Black 2.5pt double; font-size: 10pt; text-align: left"> </td> </tr> </table> </div> <div style=" font-size: 10pt; margin: 0pt 0"> </div> <div style=" font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in">The Company has shareholders' agreements in place at each of its non-wholly owned subsidiaries. These agreements allow the Company to “call” the non-controlling interest at a price determined with the use of a formula price, which is usually equal to a fixed multiple of average annual net earnings before extraordinary items, income taxes, interest, depreciation, and amortization. The agreements also have redemption features which allow the owners of the RNCI to “put” their equity to the Company at the same price subject to certain limitations. The formula price is referred to as the redemption amount and <div style="display: inline; font-style: italic; font: inherit;"> may </div>be paid in cash or in Common Shares. The redemption amount as of <div style="display: inline; font-style: italic; font: inherit;"> December 31, 2020 </div>was <div style="display: inline; font-style: italic; font: inherit;">$188,531</div> (<div style="display: inline; font-style: italic; font: inherit;">2019</div> - <div style="display: inline; font-style: italic; font: inherit;">$170,983</div>). The redemption amount is lower than that recorded on the balance sheet as the formula price of certain RNCI are lower than the amount initially recorded at the inception of the minority equity position. If all put or call options were settled with Common Shares as at <div style="display: inline; font-style: italic; font: inherit;"> December 31, 2020, </div>approximately <div style="display: inline; font-style: italic; font: inherit;">1,400,000</div> such shares would be issued, and would have resulted in an increase of <div style="display: inline; font-style: italic; font: inherit;">$0.44</div> to earnings per share for the year ended <div style="display: inline; font-style: italic; font: inherit;"> December </div><div style="display: inline; font-style: italic; font: inherit;">31,</div> <div style="display: inline; font-style: italic; font: inherit;">2020.</div></div></div>
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561142000
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87259000
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6
2
2
2
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3
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5
3
2
2
2
7
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2844000
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30622000
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37018000
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132893000
0.037
P5Y
1364000
4430000
2316000
2775000
11417000
15840000
87632000
63470000
8752000
4955000
2604000
2659000
2659000
2659000
2604000
2604000
<div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;"> <tr style="vertical-align: top; text-align: justify"> <td style="width: 0; text-align: right"></td> <td style="width: 0.5in"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-style: italic; font: inherit;">7.</div></div></div></td> <td style="text-align: justify"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-weight: bold;">Other (income) expense</div></div></td> </tr> </table> <div style=" margin: 0"> </div> <div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; margin-left: 46px; min-width: 700px;"> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; font-size: 10pt"> </td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2020</td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; text-align: right; border-bottom: Black 1pt solid">2019</td> </tr> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; font-size: 10pt"> </td> <td style="font-size: 10pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; text-align: right"> </td> <td style="font-size: 10pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 70%; font-size: 10pt; text-align: left">Gain on disposal of business</td> <td style="width: 1%; font-size: 10pt; font-weight: bold"> </td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">$</td> <td style="width: 12%; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="white-space: nowrap; width: 1%; font-size: 10pt; font-weight: bold; text-align: left"> </td> <td style="width: 1%; font-size: 10pt"> </td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td> <td style="width: 12%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(6,082</div></td> <td style="white-space: nowrap; width: 1%; font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Other (income) expense</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(361</div></td> <td style="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">)</td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">67</div></td> <td style="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">$</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(361</div></td> <td style="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">)</td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">$</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(6,015</div></td> <td style="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> </tr> </table> </div> <div style=" font-size: 10pt; margin: 0pt 0"> </div> <div style=" font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in">During the <div style="display: inline; font-style: italic; font: inherit;">second</div> quarter of the prior year, the Company completed the divestiture of <div style="display: inline; font-style: italic; font: inherit;">two</div> non-core businesses. The Company sold its national accounts commercial painting operations for cash consideration of <div style="display: inline; font-style: italic; font: inherit;">$3,386</div> and notes receivable of <div style="display: inline; font-style: italic; font: inherit;">$2,800.</div> The pre-tax gain on disposal was <div style="display: inline; font-style: italic; font: inherit;">$1,406.</div> The Company also completed the sale of its Florida and Arizona-based landscaping operations for cash consideration of <div style="display: inline; font-style: italic; font: inherit;">$9,644</div> (net of cash disposed of <div style="display: inline; font-style: italic; font: inherit;">$600</div>). The pre-tax gain on disposal was <div style="display: inline; font-style: italic; font: inherit;">$4,676.</div></div></div>
21479000
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67000
361000
361000
6015000
4288000
1504000
20231000
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22044000
5084000
5725000
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579863000
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34319000
42112000
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-227631000
<div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;"> <tr style="vertical-align: top; text-align: justify"> <td style="width: 0; text-align: right"></td> <td style="width: 0.5in"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-style: italic; font: inherit;">9.</div></div></div></td> <td style="text-align: justify"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-weight: bold;">Fixed assets</div></div></td> </tr> </table> <div style=" margin: 0"> </div> <div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; margin-left: 46px; min-width: 700px;"> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; font-size: 10pt; font-weight: bold">December 31, 2020</td> <td style="font-size: 10pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; text-align: right"> </td> <td style="font-size: 10pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; text-align: right">Accumulated</td> <td style="font-size: 10pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; text-align: right"> </td> </tr> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; font-size: 10pt"> </td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; text-align: right; border-bottom: Black 1pt solid">Cost</td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; text-align: right; border-bottom: Black 1pt solid">depreciation</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">Net</td> </tr> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; font-size: 10pt"> </td> <td style="font-size: 10pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; text-align: right"> </td> <td style="font-size: 10pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; text-align: right"> </td> <td style="font-size: 10pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 55%; font-size: 10pt">Land</td> <td style="width: 1%; font-size: 10pt"> </td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td> <td style="width: 12%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,941</div></td> <td style="white-space: nowrap; width: 1%; font-size: 10pt; text-align: left"> </td> <td style="width: 1%; font-size: 10pt"> </td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td> <td style="width: 12%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="white-space: nowrap; width: 1%; font-size: 10pt; text-align: left"> </td> <td style="width: 1%; font-size: 10pt; font-weight: bold"> </td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">$</td> <td style="width: 12%; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,941</div></td> <td style="white-space: nowrap; width: 1%; font-size: 10pt; font-weight: bold; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt">Buildings</td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">6,168</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">4,144</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; font-weight: bold"> </td> <td style="font-size: 10pt; font-weight: bold; text-align: left"> </td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">2,024</div></td> <td style="white-space: nowrap; font-size: 10pt; font-weight: bold; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt">Vehicles</td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">94,267</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">59,775</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; font-weight: bold"> </td> <td style="font-size: 10pt; font-weight: bold; text-align: left"> </td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">34,492</div></td> <td style="white-space: nowrap; font-size: 10pt; font-weight: bold; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Furniture and equipment</td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">110,499</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">68,834</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; font-weight: bold"> </td> <td style="font-size: 10pt; font-weight: bold; text-align: left"> </td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">41,665</div></td> <td style="white-space: nowrap; font-size: 10pt; font-weight: bold; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Computer equipment and software</td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">128,061</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">99,427</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; font-weight: bold"> </td> <td style="font-size: 10pt; font-weight: bold; text-align: left"> </td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">28,634</div></td> <td style="white-space: nowrap; font-size: 10pt; font-weight: bold; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Leasehold improvements</td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">47,333</div></td> <td style="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">29,520</div></td> <td style="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">17,813</div></td> <td style="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; padding-bottom: 2.5pt"> </td> <td style="font-size: 10pt; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: left">$</td> <td style="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">388,269</div></td> <td style="white-space: nowrap; border-bottom: Black 2.5pt double; font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: left">$</td> <td style="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">261,700</div></td> <td style="white-space: nowrap; border-bottom: Black 2.5pt double; font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-size: 10pt; font-weight: bold; text-align: left">$</td> <td style="border-bottom: Black 2.5pt double; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">126,569</div></td> <td style="white-space: nowrap; border-bottom: Black 2.5pt double; font-size: 10pt; font-weight: bold; text-align: left"> </td> </tr> </table> </div> <div style=" margin: 0"> </div> <div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; margin-left: 46px; min-width: 700px;"> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; font-size: 10pt">December 31, 2019</td> <td style="font-size: 10pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; text-align: right"> </td> <td style="font-size: 10pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; text-align: right">Accumulated</td> <td style="font-size: 10pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; text-align: right"> </td> </tr> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; font-size: 10pt"> </td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; text-align: right; border-bottom: Black 1pt solid">Cost</td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; text-align: right; border-bottom: Black 1pt solid">depreciation</td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; text-align: right; border-bottom: Black 1pt solid">Net</td> </tr> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; font-size: 10pt"> </td> <td style="font-size: 10pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; text-align: right"> </td> <td style="font-size: 10pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; text-align: right"> </td> <td style="font-size: 10pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 55%; font-size: 10pt">Land</td> <td style="width: 1%; font-size: 10pt"> </td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td> <td style="width: 12%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">2,521</div></td> <td style="white-space: nowrap; width: 1%; font-size: 10pt; text-align: left"> </td> <td style="width: 1%; font-size: 10pt"> </td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td> <td style="width: 12%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="white-space: nowrap; width: 1%; font-size: 10pt; text-align: left"> </td> <td style="width: 1%; font-size: 10pt"> </td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td> <td style="width: 12%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">2,521</div></td> <td style="white-space: nowrap; width: 1%; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt">Buildings</td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">10,602</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">5,136</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">5,466</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt">Vehicles</td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">85,585</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">48,308</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">37,277</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Furniture and equipment</td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">92,863</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">54,806</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">38,057</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Computer equipment and software</td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">112,752</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">83,371</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">29,381</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Leasehold improvements</td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">43,170</div></td> <td style="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">24,327</div></td> <td style="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">18,843</div></td> <td style="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; padding-bottom: 2.5pt"> </td> <td style="font-size: 10pt; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: left">$</td> <td style="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">347,493</div></td> <td style="white-space: nowrap; border-bottom: Black 2.5pt double; font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: left">$</td> <td style="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">215,948</div></td> <td style="white-space: nowrap; border-bottom: Black 2.5pt double; font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: left">$</td> <td style="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">131,545</div></td> <td style="white-space: nowrap; border-bottom: Black 2.5pt double; font-size: 10pt; text-align: left"> </td> </tr> </table> </div> <div style=" font-size: 10pt; margin: 0pt 0"> </div> <div style=" font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in">Included in fixed assets are vehicles, office and computer equipment under finance lease at a cost of <div style="display: inline; font-style: italic; font: inherit;">$24,198</div> (<div style="display: inline; font-style: italic; font: inherit;">2019</div> - <div style="display: inline; font-style: italic; font: inherit;">$21,060</div>) and net book value of <div style="display: inline; font-style: italic; font: inherit;">$11,416</div> (<div style="display: inline; font-style: italic; font: inherit;">2019</div> - <div style="display: inline; font-style: italic; font: inherit;">$10,745</div>).</div></div>
1941000
6168000
94267000
110499000
128061000
47333000
388269000
2521000
10602000
85585000
92863000
112752000
43170000
347493000
1941000
2024000
34492000
41665000
28634000
17813000
126569000
2521000
5466000
37277000
38057000
29381000
18843000
131545000
<div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style=" font-size: 10pt; margin: 0pt 0 0pt 0.5in"><div style="display: inline; font-weight: bold;">Fixed assets</div></div> <div style=" font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in">Fixed assets are carried at cost less accumulated depreciation. The costs of additions and improvements are capitalized, while maintenance and repairs are expensed as incurred. Fixed assets are reviewed for impairment whenever events or circumstances indicate that the carrying value of an asset group <div style="display: inline; font-style: italic; font: inherit;"> may </div><div style="display: inline; font-style: italic; font: inherit;">not</div> be recoverable. An impairment loss is recorded to the extent the carrying amount exceeds the estimated fair value of an asset group. Fixed assets are depreciated over their estimated useful lives as follows:</div> <div style=" font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in"> </div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;"> <tr style="vertical-align: bottom"> <td style="width: 50%; font-size: 10pt; padding-left: 0.5in">Buildings</td> <td style="width: 1%; font-size: 10pt"> </td> <td style="width: 49%; font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font: inherit;">20</div> to <div style="display: inline; font-style: italic; font: inherit;">40</div> years straight-line</td> </tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt; padding-left: 0.5in">Vehicles</td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font: inherit;">3</div> to <div style="display: inline; font-style: italic; font: inherit;">5</div> years straight-line</td> </tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt; text-align: left; padding-left: 0.5in">Furniture and equipment</td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font: inherit;">3</div> to <div style="display: inline; font-style: italic; font: inherit;">10</div> years straight-line</td> </tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt; text-align: left; padding-left: 0.5in">Computer equipment and software</td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font: inherit;">3</div> to <div style="display: inline; font-style: italic; font: inherit;">5</div> years straight-line</td> </tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt; text-align: left; padding-left: 0.5in">Leasehold improvements</td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left">term of the lease to a maximum of <div style="display: inline; font-style: italic; font: inherit;">10</div> years straight-line</td> </tr> </table></div></div>
<div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; margin-left: 46px; min-; min-width: 700px;"> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; font-size: 10pt; font-weight: bold">December 31, 2020</td> <td style="font-size: 10pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; text-align: right"> </td> <td style="font-size: 10pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; text-align: right">Accumulated</td> <td style="font-size: 10pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; text-align: right"> </td> </tr> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; font-size: 10pt"> </td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; text-align: right; border-bottom: Black 1pt solid">Cost</td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; text-align: right; border-bottom: Black 1pt solid">depreciation</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">Net</td> </tr> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; font-size: 10pt"> </td> <td style="font-size: 10pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; text-align: right"> </td> <td style="font-size: 10pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; text-align: right"> </td> <td style="font-size: 10pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 55%; font-size: 10pt">Land</td> <td style="width: 1%; font-size: 10pt"> </td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td> <td style="width: 12%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,941</div></td> <td style="white-space: nowrap; width: 1%; font-size: 10pt; text-align: left"> </td> <td style="width: 1%; font-size: 10pt"> </td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td> <td style="width: 12%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="white-space: nowrap; width: 1%; font-size: 10pt; text-align: left"> </td> <td style="width: 1%; font-size: 10pt; font-weight: bold"> </td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">$</td> <td style="width: 12%; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,941</div></td> <td style="white-space: nowrap; width: 1%; font-size: 10pt; font-weight: bold; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt">Buildings</td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">6,168</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">4,144</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; font-weight: bold"> </td> <td style="font-size: 10pt; font-weight: bold; text-align: left"> </td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">2,024</div></td> <td style="white-space: nowrap; font-size: 10pt; font-weight: bold; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt">Vehicles</td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">94,267</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">59,775</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; font-weight: bold"> </td> <td style="font-size: 10pt; font-weight: bold; text-align: left"> </td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">34,492</div></td> <td style="white-space: nowrap; font-size: 10pt; font-weight: bold; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Furniture and equipment</td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">110,499</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">68,834</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; font-weight: bold"> </td> <td style="font-size: 10pt; font-weight: bold; text-align: left"> </td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">41,665</div></td> <td style="white-space: nowrap; font-size: 10pt; font-weight: bold; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Computer equipment and software</td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">128,061</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">99,427</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; font-weight: bold"> </td> <td style="font-size: 10pt; font-weight: bold; text-align: left"> </td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">28,634</div></td> <td style="white-space: nowrap; font-size: 10pt; font-weight: bold; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Leasehold improvements</td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">47,333</div></td> <td style="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">29,520</div></td> <td style="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">17,813</div></td> <td style="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; padding-bottom: 2.5pt"> </td> <td style="font-size: 10pt; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: left">$</td> <td style="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">388,269</div></td> <td style="white-space: nowrap; border-bottom: Black 2.5pt double; font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: left">$</td> <td style="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">261,700</div></td> <td style="white-space: nowrap; border-bottom: Black 2.5pt double; font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-size: 10pt; font-weight: bold; text-align: left">$</td> <td style="border-bottom: Black 2.5pt double; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">126,569</div></td> <td style="white-space: nowrap; border-bottom: Black 2.5pt double; font-size: 10pt; font-weight: bold; text-align: left"> </td> </tr> </table></div><div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; margin-left: 46px; min-; min-width: 700px;"> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; font-size: 10pt">December 31, 2019</td> <td style="font-size: 10pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; text-align: right"> </td> <td style="font-size: 10pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; text-align: right">Accumulated</td> <td style="font-size: 10pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; text-align: right"> </td> </tr> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; font-size: 10pt"> </td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; text-align: right; border-bottom: Black 1pt solid">Cost</td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; text-align: right; border-bottom: Black 1pt solid">depreciation</td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; text-align: right; border-bottom: Black 1pt solid">Net</td> </tr> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; font-size: 10pt"> </td> <td style="font-size: 10pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; text-align: right"> </td> <td style="font-size: 10pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; text-align: right"> </td> <td style="font-size: 10pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 55%; font-size: 10pt">Land</td> <td style="width: 1%; font-size: 10pt"> </td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td> <td style="width: 12%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">2,521</div></td> <td style="white-space: nowrap; width: 1%; font-size: 10pt; text-align: left"> </td> <td style="width: 1%; font-size: 10pt"> </td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td> <td style="width: 12%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="white-space: nowrap; width: 1%; font-size: 10pt; text-align: left"> </td> <td style="width: 1%; font-size: 10pt"> </td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td> <td style="width: 12%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">2,521</div></td> <td style="white-space: nowrap; width: 1%; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt">Buildings</td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">10,602</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">5,136</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">5,466</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt">Vehicles</td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">85,585</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">48,308</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">37,277</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Furniture and equipment</td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">92,863</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">54,806</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">38,057</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Computer equipment and software</td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">112,752</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">83,371</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">29,381</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Leasehold improvements</td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">43,170</div></td> <td style="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">24,327</div></td> <td style="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">18,843</div></td> <td style="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; padding-bottom: 2.5pt"> </td> <td style="font-size: 10pt; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: left">$</td> <td style="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">347,493</div></td> <td style="white-space: nowrap; border-bottom: Black 2.5pt double; font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: left">$</td> <td style="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">215,948</div></td> <td style="white-space: nowrap; border-bottom: Black 2.5pt double; font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: left">$</td> <td style="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">131,545</div></td> <td style="white-space: nowrap; border-bottom: Black 2.5pt double; font-size: 10pt; text-align: left"> </td> </tr> </table></div>
P20Y
P40Y
P3Y
P5Y
P3Y
P10Y
P3Y
P5Y
P10Y
11624000
4170000
4170000
4033000
4033000
<div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style=" font-size: 10pt; margin: 0pt 0 0pt 0.5in"><div style="display: inline; font-weight: bold;">Accounts Receivable</div></div> <div style=" font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in">In the ordinary course of business the Company extends non-interest bearing trade credit to its customers. Accounts receivable are reported on the face of the consolidated balance sheets, net of an allowance for doubtful accounts. The Company maintains an allowance for doubtful accounts to provide for the estimated amount of receivables that will <div style="display: inline; font-style: italic; font: inherit;">not</div> be collected. In determining the allowance for doubtful accounts, the Company analyzes the aging of accounts receivable, historical payment experience, customer creditworthiness and current economic trends.</div> <div style=" font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in"> </div> <div style=" font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in"><div style="display: inline; font-style: italic;">Credit Losses </div></div> <div style=" font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in">On <div style="display: inline; font-style: italic; font: inherit;"> January 1, 2020, </div>the Company adopted ASU <div style="display: inline; font-style: italic; font: inherit;">2016</div>-<div style="display: inline; font-style: italic; font: inherit;">13,</div> Measurement of Credit Losses on Financial Instruments (Topic <div style="display: inline; font-style: italic; font: inherit;">326</div>), which replaces existing incurred loss impairment guidance and establishes a single allowance framework for financial assets carried at amortized cost. The Company adopted Topic <div style="display: inline; font-style: italic; font: inherit;">326</div> using a modified retrospective approach, which requires a cumulative-effect adjustment, if any, to the opening balance of retained earnings (deficit) to be recognized on the date of adoption with prior periods <div style="display: inline; font-style: italic; font: inherit;">not</div> restated. The cumulative-effect adjustment recorded on <div style="display: inline; font-style: italic; font: inherit;"> January 1, 2020 </div>was <div style="display: inline; font-style: italic; font: inherit;">not</div> material.</div> <div style=" font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in"> </div> <div style=" font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in">Accounting policy for Credit Losses</div> <div style=" font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in">Accounts receivable: The allowance for doubtful accounts is based on the Company's assessment of the collectability of customer accounts. The measurement of expected credit losses is based on relevant information about past events, including historical experience, credit quality, the age of the accounts receivable balances, and current economic conditions that <div style="display: inline; font-style: italic; font: inherit;"> may </div>impact a customer's ability to pay.</div> <div style=" font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in"> </div> <div style=" margin: 0pt 0 0pt 0.5in; font-size: 10pt; text-align: justify"><div style="display: inline; font-size: 10pt">A reconciliation of our allowance for doubtful accounts is found below:</div></div> <div style=" margin: 0pt 0 0pt 0.5in; font-size: 10pt; text-align: justify"> </div> <div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; margin-left: 46px; min-width: 700px;"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt; white-space: nowrap; font-size: 10pt; font-weight: bold">(In thousands)</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2020</td> </tr> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; font-size: 10pt"> </td> <td style="font-size: 10pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; text-align: right"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 85%; font-size: 10pt; text-align: left">Allowance for doubtful accounts, December 31, 2019</td> <td style="width: 1%; font-size: 10pt"> </td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td> <td style="width: 12%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">13,136</div></td> <td style="white-space: nowrap; width: 1%; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Bad debt expense</td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">11,624</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Write-offs to accounts receivable</td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(9,446</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Recoveries to accounts receivable</td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">169</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Adjustment to opening retained earnings</td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">53</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; padding-bottom: 1pt">Other</td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">286</div></td> <td style="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Allowance for doubtful accounts, December 31, 2020</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">$</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">15,822</div></td> <td style="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"> </td> </tr> </table> </div></div></div>
188531000
170983000
174662000
151585000
193034000
<div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; margin-left: 46px; min-; min-width: 700px;"> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; font-size: 10pt"> </td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2020</td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; text-align: right; border-bottom: Black 1pt solid">2019</td> </tr> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; font-size: 10pt"> </td> <td style="font-size: 10pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt"> </td> <td style="font-size: 10pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 70%; font-size: 10pt">Balance, January 1</td> <td style="width: 1%; font-size: 10pt; font-weight: bold"> </td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">$</td> <td style="width: 12%; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">174,662</div></td> <td style="white-space: nowrap; width: 1%; font-size: 10pt; font-weight: bold; text-align: left"> </td> <td style="width: 1%; font-size: 10pt"> </td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td> <td style="width: 12%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">151,585</div></td> <td style="white-space: nowrap; width: 1%; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt">RNCI share of earnings</td> <td style="font-size: 10pt; font-weight: bold"> </td> <td style="font-size: 10pt; font-weight: bold; text-align: left"> </td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">6,354</div></td> <td style="white-space: nowrap; font-size: 10pt; font-weight: bold; text-align: left"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">7,874</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">RNCI redemption increment</td> <td style="font-size: 10pt; font-weight: bold"> </td> <td style="font-size: 10pt; font-weight: bold; text-align: left"> </td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">15,977</div></td> <td style="white-space: nowrap; font-size: 10pt; font-weight: bold; text-align: left"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">16,105</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Distributions paid to RNCI</td> <td style="font-size: 10pt; font-weight: bold"> </td> <td style="font-size: 10pt; font-weight: bold; text-align: left"> </td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(5,084</div></td> <td style="white-space: nowrap; font-size: 10pt; font-weight: bold; text-align: left">)</td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(5,725</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Purchases of interests from RNCI, net</td> <td style="font-size: 10pt; font-weight: bold"> </td> <td style="font-size: 10pt; font-weight: bold; text-align: left"> </td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(20,231</div></td> <td style="white-space: nowrap; font-size: 10pt; font-weight: bold; text-align: left">)</td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(30,648</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">RNCI recognized on business acquisitions</td> <td style="font-size: 10pt; font-weight: bold"> </td> <td style="font-size: 10pt; font-weight: bold; text-align: left"> </td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">21,293</div></td> <td style="white-space: nowrap; font-size: 10pt; font-weight: bold; text-align: left"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">35,307</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; padding-bottom: 1pt">Other</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">63</div></td> <td style="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"> </td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">164</div></td> <td style="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; padding-bottom: 2.5pt">Balance, December 31</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-size: 10pt; font-weight: bold; text-align: left">$</td> <td style="border-bottom: Black 2.5pt double; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">193,034</div></td> <td style="white-space: nowrap; border-bottom: Black 2.5pt double; font-size: 10pt; font-weight: bold; text-align: left"> </td> <td style="font-size: 10pt; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: left">$</td> <td style="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">174,662</div></td> <td style="white-space: nowrap; border-bottom: Black 2.5pt double; font-size: 10pt; text-align: left"> </td> </tr> </table></div>
<div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;"> <tr style="vertical-align: top"> <td style="width: 0"></td> <td style="width: 0.5in"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-style: italic; font: inherit;">21.</div></div></td> <td><div style="display: inline; font-weight: bold;">Related party transactions</div></td> </tr> </table> <div style=" font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in"> </div> <div style=" font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in">The Company has entered into office space rental arrangements and property management contracts with senior managers of certain subsidiaries. These senior managers are usually also minority shareholders of the subsidiaries. The business purpose of the transactions is to rent office space for the Company and to generate property management revenues for the Company. The recorded amount of the rent expense for the year ended <div style="display: inline; font-style: italic; font: inherit;"> December </div><div style="display: inline; font-style: italic; font: inherit;">31,</div> <div style="display: inline; font-style: italic; font: inherit;">2020</div> was <div style="display: inline; font-style: italic; font: inherit;">$2,844</div> (<div style="display: inline; font-style: italic; font: inherit;">2019</div> - <div style="display: inline; font-style: italic; font: inherit;">$1,330</div>). These amounts are settled monthly in cash, and are priced at market rates. The rental arrangements have fixed terms of up to <div style="display: inline; font-style: italic; font: inherit;">10</div> years.</div> <div style=" font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in"> </div> <div style=" font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in">As at <div style="display: inline; font-style: italic; font: inherit;"> December </div><div style="display: inline; font-style: italic; font: inherit;">31,</div> <div style="display: inline; font-style: italic; font: inherit;">2020,</div> the Company had <div style="display: inline; font-style: italic; font: inherit;">$2,421</div> of loans receivable from minority shareholders (<div style="display: inline; font-style: italic; font: inherit;"> December </div><div style="display: inline; font-style: italic; font: inherit;">31,</div> <div style="display: inline; font-style: italic; font: inherit;">2019</div> - <div style="display: inline; font-style: italic; font: inherit;">$2,564</div>). The business purpose of the loans receivable was to finance the sale of non-controlling interests in subsidiaries to senior managers. The loan amounts are measured based on the formula price of the underlying non-controlling interests, and interest rates are determined based on market rates plus a spread. The loans generally have terms of <div style="display: inline; font-style: italic; font: inherit;">5</div> to <div style="display: inline; font-style: italic; font: inherit;">10</div> years, but are open for repayment without penalty at any time.</div></div>
204568000
194193000
24643000
13093000
136746000
148607000
4294000
4956000
2441025000
2184789000
331390000
222621000
2772415000
2407410000
1415121000
1357294000
1411998000
995412000
1216254000
836637000
136746000
153826000
4294000
4949000
<div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;"> <tr style="vertical-align: top"> <td style="width: 0.5in"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-style: italic; font: inherit;">4.</div></div></td> <td><div style="display: inline; font-weight: bold;">Revenue from contracts with customers </div></td> </tr> </table> <div style=" font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in"> </div> <div style=" font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in">Within the FirstService Brands segment, franchise fee revenue recognized during the <div style="display: inline; font-style: italic; font: inherit;">twelve</div> months ended <div style="display: inline; font-style: italic; font: inherit;"> December </div><div style="display: inline; font-style: italic; font: inherit;">31,</div> <div style="display: inline; font-style: italic; font: inherit;">2020</div> that was included in deferred revenue at the beginning of the period was <div style="display: inline; font-style: italic; font: inherit;">$4,012</div> (<div style="display: inline; font-style: italic; font: inherit;">2019</div> - <div style="display: inline; font-style: italic; font: inherit;">$4,462</div>). These fees are recognized over the life of the underlying franchise agreement, usually between <div style="display: inline; font-style: italic; font: inherit;">5</div> - <div style="display: inline; font-style: italic; font: inherit;">10</div> years.</div> <div style=" font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in"> </div> <div style=" font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in">External broker costs and employee sales commissions in obtaining new franchisees are capitalized in accordance with the revenue standard and are amortized over the life of the underlying franchise agreement. Costs amortized during the <div style="display: inline; font-style: italic; font: inherit;">twelve</div> months ended <div style="display: inline; font-style: italic; font: inherit;"> December </div><div style="display: inline; font-style: italic; font: inherit;">31,</div> <div style="display: inline; font-style: italic; font: inherit;">2020</div> were <div style="display: inline; font-style: italic; font: inherit;">$1,888</div> (<div style="display: inline; font-style: italic; font: inherit;">2019</div> - <div style="display: inline; font-style: italic; font: inherit;">$1,717</div>). The closing amount of the capitalized costs to obtain contracts on the balance sheet as at <div style="display: inline; font-style: italic; font: inherit;"> December </div><div style="display: inline; font-style: italic; font: inherit;">31,</div> <div style="display: inline; font-style: italic; font: inherit;">2020</div> was <div style="display: inline; font-style: italic; font: inherit;">$7,157</div> (<div style="display: inline; font-style: italic; font: inherit;">2019</div> - <div style="display: inline; font-style: italic; font: inherit;">$6,711</div>). There were <div style="display: inline; font-style: italic; font: inherit;">no</div> impairment losses recognized related to those assets in the quarter.</div> <div style=" font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in"> </div> <div style=" font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in">The Company's backlog represents remaining performance obligations and is defined as contracted work yet to be performed. As at <div style="display: inline; font-style: italic; font: inherit;"> December </div><div style="display: inline; font-style: italic; font: inherit;">31,</div> <div style="display: inline; font-style: italic; font: inherit;">2020,</div> the aggregate amount of backlog was <div style="display: inline; font-style: italic; font: inherit;">$376,479.</div> The Company expects to recognize revenue on the remaining backlog over the next <div style="display: inline; font-style: italic; font: inherit;">12</div> months.</div> <div style=" font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in"> </div> <div style=" font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in">Disaggregated revenues are as follows: </div> <div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; margin-left: 46px; min-width: 700px;"> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; font-size: 10pt"> </td> <td style="font-size: 10pt; font-weight: bold"> </td> <td colspan="7" style="white-space: nowrap; font-size: 10pt; font-weight: bold; text-align: center">Year ended</td> </tr> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; font-size: 10pt"> </td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="7" style="white-space: nowrap; font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">December 31</td> </tr> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; font-size: 10pt"> </td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2020</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2019</td> </tr> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; font-size: 10pt; font-weight: bold">Revenues</td> <td style="font-size: 10pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt"> </td> <td style="font-size: 10pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt"> </td> </tr> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; font-size: 10pt"> </td> <td style="font-size: 10pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt"> </td> <td style="font-size: 10pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 70%; font-size: 10pt; text-align: left">FirstService Residential</td> <td style="width: 1%; font-size: 10pt"> </td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td> <td style="width: 12%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,415,121</div></td> <td style="white-space: nowrap; width: 1%; font-size: 10pt; text-align: left"> </td> <td style="width: 1%; font-size: 10pt"> </td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td> <td style="width: 12%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,411,998</div></td> <td style="white-space: nowrap; width: 1%; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">FirstService Brands company-owned operations</td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,216,254</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">836,637</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">FirstService Brands franchisor</td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">136,746</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">153,826</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">FirstService Brands franchise fee</td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">4,294</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">4,949</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> </tr> </table> </div> <div style=" font-size: 10pt; margin: 0pt 0"> </div> <!-- Field: /Page --> <div style=" margin: 0pt 0 0pt 0.5in; font-size: 10pt; text-align: justify">The Company disaggregates revenue by segment, and within the FirstService Brands segment, further disaggregates its company-owned operations revenue; these businesses primarily recognize revenue over time as they perform because of the continuous transfer of control to the customer. As such, revenue is recognized based on the extent of progress towards completion of the performance obligation. The Company generally uses the cost-to-cost measure of progress method. The extent of progress towards completion is measured based on the ratio of costs incurred to date to the total estimated costs at completion of the performance obligation. Revenues, including estimated fees or profits, are recorded proportionally as costs are incurred.</div> <div style=" font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in"> </div> <div style=" font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in">We believe this disaggregation best depicts how the nature, amount, timing and uncertainty of the Company's revenue and cash flows are affected by economic factors.</div></div>
<div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style=" margin: 0pt 0 0pt 0.5in; font-size: 10pt"><div style="display: inline; font-weight: bold;">Revenue recognition and unearned revenues</div></div> <div style=" font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in">The Company accounts for a contract with a customer when there is approval and commitment from both parties, the rights of the parties are identified, payment terms are identified, the contract has commercial substance and collectability of consideration is probable. The Company's revenues are measured based on consideration specified in the contract of each customer and revenue is recognized as the performance obligations are satisfied by transferring the control of the service or product to a customer.</div> <div style=" font-size: 10pt; text-align: justify; margin: 0pt 0"> </div> <div style=" font-size: 10pt; text-align: justify; margin: 0pt 0; text-indent: 0.5in"><div style="display: inline; font-style: italic;">(a) Revenues from property and amenity management services</div></div> <div style=" font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in">Property and amenity management services represent a series of distinct daily services, that in nature are substantially the same, rendered over time. The Company is compensated for these services through monthly management fees and fees associated with ancillary services. Revenue is recognized for the fees associated with the services performed.</div> <div style=" font-size: 10pt; text-align: justify; margin: 0pt 0"> </div> <div style=" font-size: 10pt; margin: 0pt 0 0pt 0.5in"><div style="display: inline; font-style: italic;">(b) Revenues from construction contracts and service operations other than franchisor operations </div></div> <div style=" font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in">Revenues are recognized at the time the service is rendered. Certain services including but <div style="display: inline; font-style: italic; font: inherit;">not</div> limited to restoration and construction contracts, are recognized over time based on percentage of completion, based on a ratio of actual costs to total estimated contract costs. In cases where anticipated costs to complete a project exceed the revenue to be recognized, a provision for the additional estimated losses is recorded in the period when the loss becomes apparent. Amounts received from customers in advance of services being provided are recorded as unearned revenues when received.</div> <div style=" font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in"> </div> <div style=" font-size: 10pt; margin: 0pt 0 0pt 0.5in"><div style="display: inline; font-style: italic;">(c) Franchisor operations</div></div> <div style=" font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in">The Company operates several franchise systems within its FirstService Brands segment. Initial franchise fees are deferred and recognized over the term of the franchise agreement. Royalty revenues are recognized based on a contracted percentage of franchisee revenues, as reported by the franchisees. Revenues from administrative and other support services, as applicable, are recognized as the services are provided.</div> <div style=" font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in"> </div> <div style=" font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in">The Company's franchise systems operate marketing funds on behalf of franchisees. Advertising fund contributions from franchisees are reported as revenues and advertising fund expenditures are reported as expenses in our statements of earnings. To the extent that contributions received exceed advertising expenditures, the excess amount is accrued and offset as a deferred liability, whereas any expenditures in excess of contributions are expensed as incurred. As such, advertising fund contributions and the related revenues and expenses <div style="display: inline; font-style: italic; font: inherit;"> may </div>be reported in different periods.</div></div></div>
376479000
P1Y
50963000
83.46
<div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; margin-left: 46px; min-; min-width: 700px;"> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; font-size: 10pt"> </td> <td style="font-size: 10pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; text-align: right"> </td> <td style="font-size: 10pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; text-align: right">Estimated</td> </tr> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; font-size: 10pt"> </td> <td style="font-size: 10pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; text-align: right"> </td> <td style="font-size: 10pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; text-align: right">weighted</td> </tr> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; font-size: 10pt"> </td> <td style="font-size: 10pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; text-align: right"> </td> <td style="font-size: 10pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; text-align: right">average</td> </tr> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; font-size: 10pt"> </td> <td style="font-size: 10pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; text-align: right"> </td> <td style="font-size: 10pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; text-align: right">amortization</td> </tr> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; font-size: 10pt"> </td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; text-align: right; border-bottom: Black 1pt solid">Amount</td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; text-align: right; border-bottom: Black 1pt solid">period (years)</td> </tr> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; font-size: 10pt"> </td> <td style="font-size: 10pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; text-align: right"> </td> <td style="font-size: 10pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; text-align: right"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 70%; font-size: 10pt; text-align: left">Customer relationships</td> <td style="width: 1%; font-size: 10pt"> </td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td> <td style="width: 12%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">43,665</div></td> <td style="white-space: nowrap; width: 1%; font-size: 10pt; text-align: left"> </td> <td style="width: 1%; font-size: 10pt"> </td> <td style="width: 1%; font-size: 10pt; text-align: left"> </td> <td style="width: 12%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">10.0</div></td> <td style="white-space: nowrap; width: 1%; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Trademarks and trade names</td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">310</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">2.0</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Management Contracts and other</td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">13,907</div></td> <td style="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; font-size: 10pt; text-align: left"> </td> <td style="padding-bottom: 1pt; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">10.0</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; padding-bottom: 2.5pt"> </td> <td style="font-size: 10pt; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: left">$</td> <td style="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">57,882</div></td> <td style="white-space: nowrap; border-bottom: Black 2.5pt double; font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; padding-bottom: 2.5pt"> </td> <td style="padding-bottom: 2.5pt; font-size: 10pt; text-align: left"> </td> <td style="padding-bottom: 2.5pt; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">10.0</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> </tr> </table></div>
<div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; margin-left: 46px; min-; min-width: 700px;"> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 85%; font-size: 10pt">Balance, December 31, 2019</td> <td style="width: 1%; font-size: 10pt"> </td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td> <td style="width: 12%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">14,423</div></td> <td style="white-space: nowrap; width: 1%; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Amounts recognized on acquisitions</td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">13,259</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Amounts recognized on acquisitions of management contracts</td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">890</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt">Fair value adjustments</td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(261</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Resolved and settled in cash</td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(4,664</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; padding-bottom: 1pt">Other</td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">481</div></td> <td style="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; padding-bottom: 1pt">Balance, December 31, 2020</td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">$</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">24,128</div></td> <td style="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"> </td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Less: current portion</td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">$</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">4,243</div></td> <td style="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Non-current portion</td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">$</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">19,885</div></td> <td style="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td> </tr> </table></div>
<div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; margin-left: 46px; min-; min-width: 700px;"> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; font-size: 10pt"> </td> <td style="font-size: 10pt; font-weight: bold"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; font-weight: bold; text-align: right">Aggregate</td> </tr> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; font-size: 10pt"> </td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">Acquisitions</td> </tr> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; font-size: 10pt"> </td> <td style="font-size: 10pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; text-align: right"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 85%; font-size: 10pt; text-align: left">Current assets</td> <td style="width: 1%; font-size: 10pt; font-weight: bold"> </td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">$</td> <td style="width: 12%; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">36,281</div></td> <td style="white-space: nowrap; width: 1%; font-size: 10pt; font-weight: bold; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Non-current assets</td> <td style="font-size: 10pt; font-weight: bold"> </td> <td style="font-size: 10pt; font-weight: bold; text-align: left"> </td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">7,277</div></td> <td style="white-space: nowrap; font-size: 10pt; font-weight: bold; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Current liabilities</td> <td style="font-size: 10pt; font-weight: bold"> </td> <td style="font-size: 10pt; font-weight: bold; text-align: left"> </td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(21,491</div></td> <td style="white-space: nowrap; font-size: 10pt; font-weight: bold; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Non-current liabilities</td> <td style="font-size: 10pt; font-weight: bold"> </td> <td style="font-size: 10pt; font-weight: bold; text-align: left"> </td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(1,350</div></td> <td style="white-space: nowrap; font-size: 10pt; font-weight: bold; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Deferred tax liabilities</td> <td style="font-size: 10pt; font-weight: bold"> </td> <td style="font-size: 10pt; font-weight: bold; text-align: left"> </td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(2,035</div></td> <td style="white-space: nowrap; font-size: 10pt; font-weight: bold; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Redeemable non-controlling interest</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(21,293</div></td> <td style="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">$</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(2,611</div></td> <td style="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"> </td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Cash consideration, net of cash acquired of $7,252</td> <td style="font-size: 10pt; font-weight: bold"> </td> <td style="font-size: 10pt; font-weight: bold; text-align: left">$</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(98,559</div></td> <td style="white-space: nowrap; font-size: 10pt; font-weight: bold; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Acquisition date fair value of contingent consideration</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(13,259</div></td> <td style="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Total purchase consideration</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">$</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(111,818</div></td> <td style="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"> </td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Acquired intangible assets</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">$</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">57,882</div></td> <td style="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; padding-bottom: 1pt">Goodwill</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">$</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">56,547</div></td> <td style="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"> </td> </tr> </table></div><div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; margin-left: 46px; min-; min-width: 700px;"> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; font-size: 10pt"> </td> <td style="font-size: 10pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; text-align: right">Aggregate</td> </tr> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; font-size: 10pt"> </td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; text-align: right; border-bottom: Black 1pt solid">Acquisitions</td> </tr> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; font-size: 10pt"> </td> <td style="font-size: 10pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; text-align: right"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 85%; font-size: 10pt; text-align: left">Current assets</td> <td style="width: 1%; font-size: 10pt"> </td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td> <td style="width: 12%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">34,454</div></td> <td style="white-space: nowrap; width: 1%; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Non-current assets</td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">8,175</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Current liabilities</td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(29,059</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Non-current liabilities</td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(1,574</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Deferred tax liabilities</td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(6,328</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Redeemable non-controlling interest</td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(9,874</div></td> <td style="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">$</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(4,206</div></td> <td style="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"> </td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Cash consideration, net of cash acquired of $4,964</td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left">$</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(73,183</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Acquisition date fair value of contingent consideration</td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(10,611</div></td> <td style="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Total purchase consideration</td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">$</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(83,794</div></td> <td style="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"> </td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt">Backlog</td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left">$</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">4,240</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Customer relationships</td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">13,168</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Trademarks and trade names</td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">567</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Management contracts and other</td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">11,644</div></td> <td style="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; padding-bottom: 1pt">Goodwill</td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">$</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">58,381</div></td> <td style="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td> </tr> </table></div>
<div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; margin-left: 46px; min-; min-width: 700px;"> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; font-size: 10pt"> </td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2020</td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; text-align: right; border-bottom: Black 1pt solid">2019</td> </tr> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; font-size: 10pt"> </td> <td style="font-size: 10pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt"> </td> <td style="font-size: 10pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt">Current</td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"> </td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"> </td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="width: 70%; font-size: 10pt; padding-left: 10pt">Canada</td> <td style="width: 1%; font-size: 10pt; font-weight: bold"> </td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">$</td> <td style="width: 12%; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">3,300</div></td> <td style="white-space: nowrap; width: 1%; font-size: 10pt; font-weight: bold; text-align: left"> </td> <td style="width: 1%; font-size: 10pt"> </td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td> <td style="width: 12%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">369</div></td> <td style="white-space: nowrap; width: 1%; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt; padding-left: 10pt">United States</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">49,759</div></td> <td style="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"> </td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">33,978</div></td> <td style="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">53,059</div></td> <td style="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"> </td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">34,347</div></td> <td style="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"> </td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"> </td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt">Deferred</td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"> </td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"> </td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; padding-left: 10pt">Canada</td> <td style="font-size: 10pt; font-weight: bold"> </td> <td style="font-size: 10pt; font-weight: bold; text-align: left"> </td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,350</div></td> <td style="white-space: nowrap; font-size: 10pt; font-weight: bold; text-align: left"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(1,620</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt; padding-left: 10pt">United States</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(18,544</div></td> <td style="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">)</td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(5,580</div></td> <td style="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(17,194</div></td> <td style="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">)</td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(7,200</div></td> <td style="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"> </td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"> </td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; padding-bottom: 2.5pt">Total</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-size: 10pt; font-weight: bold; text-align: left">$</td> <td style="border-bottom: Black 2.5pt double; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">35,865</div></td> <td style="white-space: nowrap; border-bottom: Black 2.5pt double; font-size: 10pt; font-weight: bold; text-align: left"> </td> <td style="font-size: 10pt; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: left">$</td> <td style="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">27,147</div></td> <td style="white-space: nowrap; border-bottom: Black 2.5pt double; font-size: 10pt; text-align: left"> </td> </tr> </table></div>
<div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; margin-left: 46px; min-; min-width: 700px;"> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; font-size: 10pt"> </td> <td style="font-size: 10pt; font-weight: bold"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; font-weight: bold; text-align: right">December 31,</td> </tr> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; font-size: 10pt"> </td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2020</td> </tr> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; font-size: 10pt"> </td> <td style="font-size: 10pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; text-align: right"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 85%; font-size: 10pt; text-align: left">Credit Agreement</td> <td style="width: 1%; font-size: 10pt; font-weight: bold"> </td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">$</td> <td style="width: 12%; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">425,750</div></td> <td style="white-space: nowrap; width: 1%; font-size: 10pt; font-weight: bold; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Senior Notes</td> <td style="font-size: 10pt; font-weight: bold"> </td> <td style="font-size: 10pt; font-weight: bold; text-align: left"> </td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">150,000</div></td> <td style="white-space: nowrap; font-size: 10pt; font-weight: bold; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Capital leases maturing at various dates through 2026</td> <td style="font-size: 10pt; font-weight: bold"> </td> <td style="font-size: 10pt; font-weight: bold; text-align: left"> </td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">10,898</div></td> <td style="white-space: nowrap; font-size: 10pt; font-weight: bold; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Other long-term debt maturing at various dates up to 2023</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">2,956</div></td> <td style="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; font-weight: bold"> </td> <td style="font-size: 10pt; font-weight: bold; text-align: left"> </td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">589,604</div></td> <td style="white-space: nowrap; font-size: 10pt; font-weight: bold; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Less: current portion</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">56,478</div></td> <td style="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left; padding-bottom: 2.5pt">Long-term debt - non-current</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-size: 10pt; font-weight: bold; text-align: left">$</td> <td style="border-bottom: Black 2.5pt double; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">533,126</div></td> <td style="white-space: nowrap; border-bottom: Black 2.5pt double; font-size: 10pt; font-weight: bold; text-align: left"> </td> </tr> </table></div>
<div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; margin-left: 46px; min-; min-width: 700px;"> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; font-size: 10pt"> </td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2020</td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; text-align: right; border-bottom: Black 1pt solid">2019</td> </tr> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; font-size: 10pt"> </td> <td style="font-size: 10pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; text-align: right"> </td> <td style="font-size: 10pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; text-align: right"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Deferred income tax assets</td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"> </td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"> </td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="width: 70%; font-size: 10pt; text-align: left; padding-left: 10pt">Loss carry-forwards</td> <td style="width: 1%; font-size: 10pt; font-weight: bold"> </td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">$</td> <td style="width: 12%; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,441</div></td> <td style="white-space: nowrap; width: 1%; font-size: 10pt; font-weight: bold; text-align: left"> </td> <td style="width: 1%; font-size: 10pt"> </td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td> <td style="width: 12%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">2,788</div></td> <td style="white-space: nowrap; width: 1%; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left; padding-left: 10pt">Expenses not currently deductible</td> <td style="font-size: 10pt; font-weight: bold"> </td> <td style="font-size: 10pt; font-weight: bold; text-align: left"> </td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">39,415</div></td> <td style="white-space: nowrap; font-size: 10pt; font-weight: bold; text-align: left"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">23,283</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left; padding-left: 10pt">Stock-based compensation</td> <td style="font-size: 10pt; font-weight: bold"> </td> <td style="font-size: 10pt; font-weight: bold; text-align: left"> </td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="white-space: nowrap; font-size: 10pt; font-weight: bold; text-align: left"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">749</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left; padding-left: 10pt">Allowance for doubtful accounts</td> <td style="font-size: 10pt; font-weight: bold"> </td> <td style="font-size: 10pt; font-weight: bold; text-align: left"> </td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">5,535</div></td> <td style="white-space: nowrap; font-size: 10pt; font-weight: bold; text-align: left"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">3,860</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt; padding-left: 10pt">Inventory and other reserves</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">865</div></td> <td style="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"> </td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">3,024</div></td> <td style="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">47,256</div></td> <td style="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"> </td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">33,704</div></td> <td style="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"> </td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"> </td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Deferred income tax liabilities</td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"> </td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"> </td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left; padding-left: 10pt">Depreciation and amortization</td> <td style="font-size: 10pt; font-weight: bold"> </td> <td style="font-size: 10pt; font-weight: bold; text-align: left"> </td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">83,676</div></td> <td style="white-space: nowrap; font-size: 10pt; font-weight: bold; text-align: left"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">86,072</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left; padding-left: 10pt">Basis differences of partnerships and other entities</td> <td style="font-size: 10pt; font-weight: bold"> </td> <td style="font-size: 10pt; font-weight: bold; text-align: left"> </td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">769</div></td> <td style="white-space: nowrap; font-size: 10pt; font-weight: bold; text-align: left"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">793</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt; padding-left: 10pt">Prepaid and other expenses deducted for tax purposes</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,505</div></td> <td style="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"> </td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,276</div></td> <td style="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">85,950</div></td> <td style="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"> </td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">88,141</div></td> <td style="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"> </td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"> </td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Net deferred income tax asset (liability) before valuation allowance</td> <td style="font-size: 10pt; font-weight: bold"> </td> <td style="font-size: 10pt; font-weight: bold; text-align: left"> </td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(38,694</div></td> <td style="white-space: nowrap; font-size: 10pt; font-weight: bold; text-align: left">)</td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(54,437</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Valuation allowance</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">603</div></td> <td style="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"> </td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">965</div></td> <td style="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"> </td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"> </td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left; padding-bottom: 2.5pt">Net deferred income tax asset (liability)</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-size: 10pt; font-weight: bold; text-align: left">$</td> <td style="border-bottom: Black 2.5pt double; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(39,297</div></td> <td style="white-space: nowrap; border-bottom: Black 2.5pt double; font-size: 10pt; font-weight: bold; text-align: left">)</td> <td style="font-size: 10pt; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: left">$</td> <td style="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(55,402</div></td> <td style="white-space: nowrap; border-bottom: Black 2.5pt double; font-size: 10pt; text-align: left">)</td> </tr> </table></div>
<div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; margin-left: 46px; min-; min-width: 700px;"> <tr style="vertical-align: bottom"> <td style="text-indent: -10pt; padding-left: 10pt; white-space: nowrap; font-size: 10pt"> </td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2020</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2019</td> </tr> <tr style="vertical-align: bottom"> <td style="text-indent: -10pt; padding-left: 10pt; white-space: nowrap; font-size: 10pt"> </td> <td style="font-size: 10pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; text-align: right"> </td> <td style="font-size: 10pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -10pt; padding-left: 10pt; width: 70%; font-size: 10pt; text-align: left">Shares issued and outstanding at beginning of period</td> <td style="width: 1%; font-size: 10pt; font-weight: bold"> </td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"> </td> <td style="width: 12%; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">41,495,957</div></td> <td style="white-space: nowrap; width: 1%; font-size: 10pt; font-weight: bold; text-align: left"> </td> <td style="width: 1%; font-size: 10pt"> </td> <td style="width: 1%; font-size: 10pt; text-align: left"> </td> <td style="width: 12%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">35,980,047</div></td> <td style="white-space: nowrap; width: 1%; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-indent: -10pt; padding-left: 10pt; font-size: 10pt">Weighted average number of shares:</td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"> </td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"> </td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -10pt; font-size: 10pt; text-align: left; padding-bottom: 1pt; padding-left: 20pt">Issued during the period</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,260,042</div></td> <td style="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"> </td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">2,245,229</div></td> <td style="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-indent: -10pt; padding-left: 10pt; font-size: 10pt">Weighted average number of shares used in computing basic earnings per share</td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">42,755,999</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">38,225,276</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -10pt; padding-left: 10pt; font-size: 10pt; text-align: left; padding-bottom: 1pt">Assumed exercise of stock options, net of shares assumed acquired under the Treasury Stock Method</td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">428,098</div></td> <td style="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">437,204</div></td> <td style="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-indent: -10pt; padding-left: 10pt; font-size: 10pt; text-align: left; padding-bottom: 2.5pt">Number of shares used in computing diluted earnings per share</td> <td style="font-size: 10pt; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: left"> </td> <td style="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">43,184,097</div></td> <td style="white-space: nowrap; border-bottom: Black 2.5pt double; font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: left"> </td> <td style="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">38,662,480</div></td> <td style="white-space: nowrap; border-bottom: Black 2.5pt double; font-size: 10pt; text-align: left"> </td> </tr> </table></div>
<div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; margin-left: 46px; min-; min-width: 700px;"> <tr style="vertical-align: bottom"> <td style="text-indent: -10pt; padding-left: 10pt; white-space: nowrap; font-size: 10pt"> </td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"><div style="display: inline; font-weight: bold;">2020</div></td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; text-align: right; border-bottom: Black 1pt solid">2019</td> </tr> <tr style="vertical-align: bottom"> <td style="text-indent: -10pt; padding-left: 10pt; white-space: nowrap; font-size: 10pt"> </td> <td style="font-size: 10pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt"><div style="display: inline; font-weight: bold;"> </div></td> <td style="font-size: 10pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -10pt; padding-left: 10pt; width: 70%; font-size: 10pt; text-align: left">Income tax expense using combined statutory rate of 26.5% (2019 - 26.5%, 2018 - 26.5%)</td> <td style="width: 1%; font-size: 10pt"> </td> <td style="width: 1%; font-size: 10pt; text-align: left"><div style="display: inline; font-weight: bold;">$</div></td> <td style="width: 12%; font-size: 10pt; text-align: right"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-style: italic; font: inherit;">38,545</div></div></td> <td style="white-space: nowrap; width: 1%; font-size: 10pt; text-align: left"><div style="display: inline; font-weight: bold;"> </div></td> <td style="width: 1%; font-size: 10pt"> </td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td> <td style="width: 12%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(53,128</div></td> <td style="white-space: nowrap; width: 1%; font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-indent: -10pt; padding-left: 10pt; font-size: 10pt; text-align: left">Permanent differences</td> <td style="font-size: 10pt; font-weight: bold"> </td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-weight: bold;"> </div></td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-style: italic; font: inherit;">820</div></div></td> <td style="white-space: nowrap; font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-weight: bold;"> </div></td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,566</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -10pt; padding-left: 10pt; font-size: 10pt; text-align: left">Tax effect of flow through entities</td> <td style="font-size: 10pt; font-weight: bold"> </td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-weight: bold;"> </div></td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-style: italic; font: inherit;">-</div></div></td> <td style="white-space: nowrap; font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-weight: bold;"> </div></td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(307</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-indent: -10pt; padding-left: 10pt; font-size: 10pt; text-align: left">Adjustments to tax liabilities for prior periods</td> <td style="font-size: 10pt; font-weight: bold"> </td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-weight: bold;"> </div></td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-style: italic; font: inherit;">882</div></div></td> <td style="white-space: nowrap; font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-weight: bold;"> </div></td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(328</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -10pt; padding-left: 10pt; font-size: 10pt; text-align: left">Non-deductible stock-based compensation</td> <td style="font-size: 10pt; font-weight: bold"> </td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-weight: bold;"> </div></td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-style: italic; font: inherit;">3,081</div></div></td> <td style="white-space: nowrap; font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-weight: bold;"> </div></td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">2,153</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-indent: -10pt; padding-left: 10pt; font-size: 10pt; text-align: left">Excess tax benefits related to stock-based compensation</td> <td style="font-size: 10pt; font-weight: bold"> </td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-weight: bold;"> </div></td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-style: italic; font: inherit;">-</div></div></td> <td style="white-space: nowrap; font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-weight: bold;"> </div></td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(3,672</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -10pt; padding-left: 10pt; font-size: 10pt; text-align: left">Foreign, state and provincial tax rate differential</td> <td style="font-size: 10pt; font-weight: bold"> </td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-weight: bold;"> </div></td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-style: italic; font: inherit;">(7,463</div></div></td> <td style="white-space: nowrap; font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-weight: bold;">)</div></td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(2,402</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-indent: -10pt; padding-left: 10pt; font-size: 10pt; text-align: left">Settlement of long-term incentive arrangement</td> <td style="font-size: 10pt; font-weight: bold"> </td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-weight: bold;"> </div></td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-style: italic; font: inherit;">-</div></div></td> <td style="white-space: nowrap; font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-weight: bold;"> </div></td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">83,310</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -10pt; padding-left: 10pt; font-size: 10pt; text-align: left; padding-bottom: 1pt">Other taxes</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-weight: bold;"> </div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-style: italic; font: inherit;">-</div></div></td> <td style="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-weight: bold;"> </div></td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(45</div></td> <td style="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-indent: -10pt; padding-left: 10pt; font-size: 10pt; text-align: left; padding-bottom: 1pt">Provision for income taxes as reported</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-weight: bold;">$</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-style: italic; font: inherit;">35,865</div></div></td> <td style="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-weight: bold;"> </div></td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">$</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">27,147</div></td> <td style="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td> </tr> </table></div>
<div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; margin-left: 46px; min-; min-width: 700px;"> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; font-size: 10pt"> </td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td colspan="3" style="padding-bottom: 1pt; white-space: nowrap; font-size: 10pt; text-align: right">Carrying value at</td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td colspan="11" style="white-space: nowrap; font-size: 10pt; text-align: center; border-bottom: Black 1pt solid">Fair value measurements</td> </tr> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; font-size: 10pt"> </td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; text-align: right; border-bottom: Black 1pt solid">December 31, 2020</td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; text-align: right; border-bottom: Black 1pt solid">Level 1</td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; text-align: right; border-bottom: Black 1pt solid">Level 2</td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; text-align: right; border-bottom: Black 1pt solid">Level 3</td> </tr> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; font-size: 10pt"> </td> <td style="font-size: 10pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt"> </td> <td style="font-size: 10pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt"> </td> <td style="font-size: 10pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; text-align: right"> </td> <td style="font-size: 10pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 40%; font-size: 10pt; text-align: left">Contingent consideration liability</td> <td style="width: 1%; font-size: 10pt"> </td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td> <td style="width: 12%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">24,128</div></td> <td style="white-space: nowrap; width: 1%; font-size: 10pt; text-align: left"> </td> <td style="width: 1%; font-size: 10pt"> </td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td> <td style="width: 12%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="white-space: nowrap; width: 1%; font-size: 10pt; text-align: left"> </td> <td style="width: 1%; font-size: 10pt"> </td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td> <td style="width: 12%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="white-space: nowrap; width: 1%; font-size: 10pt; text-align: left"> </td> <td style="width: 1%; font-size: 10pt"> </td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td> <td style="width: 12%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">24,128</div></td> <td style="white-space: nowrap; width: 1%; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Interest rate swap liability</td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">2,101</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">2,101</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> </tr> </table></div>
<div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; margin-left: 46px; min-; min-width: 700px;"> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; font-size: 10pt; font-weight: bold">December 31, 2020</td> <td style="font-size: 10pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; text-align: right">Gross</td> <td style="font-size: 10pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; text-align: right"> </td> <td style="font-size: 10pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; text-align: right"> </td> </tr> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; font-size: 10pt"> </td> <td style="font-size: 10pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; text-align: right">carrying</td> <td style="font-size: 10pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; text-align: right">Accumulated</td> <td style="font-size: 10pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; text-align: right"> </td> </tr> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; font-size: 10pt"> </td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; text-align: right; border-bottom: Black 1pt solid">amount</td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; text-align: right; border-bottom: Black 1pt solid">amortization</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">Net</td> </tr> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; font-size: 10pt"> </td> <td style="font-size: 10pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; text-align: right"> </td> <td style="font-size: 10pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; text-align: right"> </td> <td style="font-size: 10pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 55%; font-size: 10pt; text-align: left">Customer relationships</td> <td style="width: 1%; font-size: 10pt"> </td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td> <td style="width: 12%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">403,976</div></td> <td style="white-space: nowrap; width: 1%; font-size: 10pt; text-align: left"> </td> <td style="width: 1%; font-size: 10pt"> </td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td> <td style="width: 12%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">103,884</div></td> <td style="white-space: nowrap; width: 1%; font-size: 10pt; text-align: left"> </td> <td style="width: 1%; font-size: 10pt; font-weight: bold"> </td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">$</td> <td style="width: 12%; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">300,092</div></td> <td style="white-space: nowrap; width: 1%; font-size: 10pt; font-weight: bold; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Franchise rights</td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">49,925</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">29,930</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; font-weight: bold"> </td> <td style="font-size: 10pt; font-weight: bold; text-align: left"> </td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">19,995</div></td> <td style="white-space: nowrap; font-size: 10pt; font-weight: bold; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Trademarks and trade names</td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">29,765</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">20,051</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; font-weight: bold"> </td> <td style="font-size: 10pt; font-weight: bold; text-align: left"> </td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">9,714</div></td> <td style="white-space: nowrap; font-size: 10pt; font-weight: bold; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Management contracts and other</td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">94,514</div></td> <td style="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">45,553</div></td> <td style="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">48,961</div></td> <td style="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; padding-bottom: 2.5pt"> </td> <td style="font-size: 10pt; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: left">$</td> <td style="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">578,180</div></td> <td style="white-space: nowrap; border-bottom: Black 2.5pt double; font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: left">$</td> <td style="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">199,418</div></td> <td style="white-space: nowrap; border-bottom: Black 2.5pt double; font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-size: 10pt; font-weight: bold; text-align: left">$</td> <td style="border-bottom: Black 2.5pt double; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">378,762</div></td> <td style="white-space: nowrap; border-bottom: Black 2.5pt double; font-size: 10pt; font-weight: bold; text-align: left"> </td> </tr> </table></div><div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; margin-left: 46px; min-; min-width: 700px;"> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; font-size: 10pt"> </td> <td style="font-size: 10pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; text-align: right">Gross</td> <td style="font-size: 10pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; text-align: right"> </td> <td style="font-size: 10pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; text-align: right"> </td> </tr> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; font-size: 10pt">December 31, 2019</td> <td style="font-size: 10pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;"><div style="display: inline; font-style: italic; font: inherit;">carrying</div></div></td> <td style="font-size: 10pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;"><div style="display: inline; font-style: italic; font: inherit;">Accumulated</div></div></td> <td style="font-size: 10pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;"><div style="display: inline; font-style: italic; font: inherit;"> </div></div></td> </tr> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; font-size: 10pt"> </td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; text-align: right; border-bottom: Black 1pt solid"><div style="display: inline; font-style: italic; font: inherit;"><div style="display: inline; font-style: italic; font: inherit;">amount</div></div></td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; text-align: right; border-bottom: Black 1pt solid"><div style="display: inline; font-style: italic; font: inherit;"><div style="display: inline; font-style: italic; font: inherit;">amortization</div></div></td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; text-align: right; border-bottom: Black 1pt solid"><div style="display: inline; font-style: italic; font: inherit;"><div style="display: inline; font-style: italic; font: inherit;">Net</div></div></td> </tr> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; font-size: 10pt"> </td> <td style="font-size: 10pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; text-align: right"> </td> <td style="font-size: 10pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; text-align: right"> </td> <td style="font-size: 10pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 55%; font-size: 10pt; text-align: left">Customer relationships</td> <td style="width: 1%; font-size: 10pt"> </td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td> <td style="width: 12%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">360,228</div></td> <td style="white-space: nowrap; width: 1%; font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font: inherit;"> </div></td> <td style="width: 1%; font-size: 10pt"> </td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td> <td style="width: 12%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">71,474</div></td> <td style="white-space: nowrap; width: 1%; font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font: inherit;"> </div></td> <td style="width: 1%; font-size: 10pt"> </td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td> <td style="width: 12%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">288,754</div></td> <td style="white-space: nowrap; width: 1%; font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font: inherit;"> </div></td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Franchise rights</td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">49,806</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font: inherit;"> </div></td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">26,707</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font: inherit;"> </div></td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">23,099</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font: inherit;"> </div></td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Trademarks and trade names</td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">30,303</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font: inherit;"> </div></td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">18,543</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font: inherit;"> </div></td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">11,760</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font: inherit;"> </div></td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Management contracts and other</td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">79,073</div></td> <td style="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font: inherit;"> </div></td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">36,462</div></td> <td style="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font: inherit;"> </div></td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">42,611</div></td> <td style="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font: inherit;"> </div></td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; padding-bottom: 2.5pt"> </td> <td style="font-size: 10pt; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: left">$</td> <td style="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">519,410</div></td> <td style="white-space: nowrap; border-bottom: Black 2.5pt double; font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font: inherit;"> </div></td> <td style="font-size: 10pt; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: left">$</td> <td style="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">153,186</div></td> <td style="white-space: nowrap; border-bottom: Black 2.5pt double; font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font: inherit;"> </div></td> <td style="font-size: 10pt; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: left">$</td> <td style="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">366,224</div></td> <td style="white-space: nowrap; border-bottom: Black 2.5pt double; font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font: inherit;"> </div></td> </tr> </table></div>
<div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; margin-left: 46px; min-; min-width: 700px;"> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; font-size: 10pt"> </td> <td style="font-size: 10pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; text-align: right">FirstService</td> <td style="font-size: 10pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; text-align: right">FirstService</td> <td> </td> <td colspan="3" style="white-space: nowrap"> </td> </tr> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; font-size: 10pt"> </td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; text-align: right; border-bottom: Black 1pt solid">Residential</td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; text-align: right; border-bottom: Black 1pt solid">Brands</td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; text-align: right; border-bottom: Black 1pt solid">Consolidated</td> </tr> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; font-size: 10pt"> </td> <td style="font-size: 10pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; text-align: right"> </td> <td style="font-size: 10pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; text-align: right"> </td> <td> </td> <td colspan="3" style="white-space: nowrap"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 55%; font-size: 10pt">Balance, December 31, 2018</td> <td style="width: 1%; font-size: 10pt"> </td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td> <td style="width: 12%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">193,943</div></td> <td style="white-space: nowrap; width: 1%; font-size: 10pt; text-align: left"> </td> <td style="width: 1%; font-size: 10pt"> </td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td> <td style="width: 12%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">141,212</div></td> <td style="white-space: nowrap; width: 1%; font-size: 10pt; text-align: left"> </td> <td style="width: 1%; font-size: 10pt"> </td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td> <td style="width: 12%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">335,155</div></td> <td style="white-space: nowrap; width: 1%; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Goodwill acquired during the year</td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">18,446</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">290,781</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">309,227</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Goodwill disposed during the year</td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(2,025</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(229</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(2,254</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Other items</td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">527</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">956</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,483</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Foreign exchange</td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">835</div></td> <td style="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">401</div></td> <td style="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,236</div></td> <td style="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt">Balance, December 31, 2019</td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">211,726</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">433,121</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">644,847</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Goodwill acquired during the year</td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">15,369</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">41,178</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">56,547</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Other items</td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">200</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,096</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,296</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Foreign exchange</td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">441</div></td> <td style="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">607</div></td> <td style="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,048</div></td> <td style="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 2.5pt">Balance, December 31, 2020</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-size: 10pt; font-weight: bold; text-align: left">$</td> <td style="border-bottom: Black 2.5pt double; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">227,736</div></td> <td style="white-space: nowrap; border-bottom: Black 2.5pt double; font-size: 10pt; font-weight: bold; text-align: left"> </td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-size: 10pt; font-weight: bold; text-align: left">$</td> <td style="border-bottom: Black 2.5pt double; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">476,002</div></td> <td style="white-space: nowrap; border-bottom: Black 2.5pt double; font-size: 10pt; font-weight: bold; text-align: left"> </td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-size: 10pt; font-weight: bold; text-align: left">$</td> <td style="border-bottom: Black 2.5pt double; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">703,738</div></td> <td style="white-space: nowrap; border-bottom: Black 2.5pt double; font-size: 10pt; font-weight: bold; text-align: left"> </td> </tr> </table></div>
<div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; margin-left: 46px; min-; min-width: 700px;"> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; font-size: 10pt"> </td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2020</td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; text-align: right; border-bottom: Black 1pt solid">2019</td> </tr> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; font-size: 10pt"> </td> <td style="font-size: 10pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt"> </td> <td style="font-size: 10pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 70%; font-size: 10pt">Canada</td> <td style="width: 1%; font-size: 10pt; font-weight: bold"> </td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">$</td> <td style="width: 12%; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">19,166</div></td> <td style="white-space: nowrap; width: 1%; font-size: 10pt; font-weight: bold; text-align: left"> </td> <td style="width: 1%; font-size: 10pt"> </td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td> <td style="width: 12%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(323,100</div></td> <td style="white-space: nowrap; width: 1%; font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">United States</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">126,289</div></td> <td style="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"> </td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">122,616</div></td> <td style="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; padding-bottom: 1pt">Total</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">$</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">145,455</div></td> <td style="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"> </td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">$</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(200,484</div></td> <td style="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> </tr> </table></div>
<div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; margin-left: 46px; min-; min-width: 700px;"> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; font-size: 10pt"> </td> <td style="font-size: 10pt; font-weight: bold"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; font-weight: bold; text-align: right">December 31,</td> <td style="font-size: 10pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; text-align: right">December 31,</td> </tr> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; font-size: 10pt"> </td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2020</td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; text-align: right; border-bottom: Black 1pt solid">2019</td> </tr> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; font-size: 10pt"> </td> <td style="font-size: 10pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; text-align: right"> </td> <td style="font-size: 10pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; text-align: right"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt">Inventories</td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"> </td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"> </td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="width: 70%; font-size: 10pt; padding-left: 10pt">Work-in-progress</td> <td style="width: 1%; font-size: 10pt; font-weight: bold"> </td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">$</td> <td style="width: 12%; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">103,969</div></td> <td style="white-space: nowrap; width: 1%; font-size: 10pt; font-weight: bold; text-align: left"> </td> <td style="width: 1%; font-size: 10pt"> </td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td> <td style="width: 12%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">66,514</div></td> <td style="white-space: nowrap; width: 1%; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left; padding-left: 10pt">Finished goods</td> <td style="font-size: 10pt; font-weight: bold"> </td> <td style="font-size: 10pt; font-weight: bold; text-align: left"> </td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">16,531</div></td> <td style="white-space: nowrap; font-size: 10pt; font-weight: bold; text-align: left"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">15,347</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt; padding-left: 10pt">Supplies and other</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">21,479</div></td> <td style="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"> </td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">12,650</div></td> <td style="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"> </td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"> </td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; padding-bottom: 2.5pt"> </td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-size: 10pt; font-weight: bold; text-align: left">$</td> <td style="border-bottom: Black 2.5pt double; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">141,979</div></td> <td style="white-space: nowrap; border-bottom: Black 2.5pt double; font-size: 10pt; font-weight: bold; text-align: left"> </td> <td style="font-size: 10pt; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: left">$</td> <td style="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">94,511</div></td> <td style="white-space: nowrap; border-bottom: Black 2.5pt double; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"> </td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"> </td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Accrued liabilities</td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"> </td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"> </td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left; padding-left: 10pt">Accrued payroll and benefits</td> <td style="font-size: 10pt; font-weight: bold"> </td> <td style="font-size: 10pt; font-weight: bold; text-align: left">$</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">160,795</div></td> <td style="white-space: nowrap; font-size: 10pt; font-weight: bold; text-align: left"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left">$</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">94,010</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; padding-left: 10pt">Value appreciation plans</td> <td style="font-size: 10pt; font-weight: bold"> </td> <td style="font-size: 10pt; font-weight: bold; text-align: left"> </td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">35</div></td> <td style="white-space: nowrap; font-size: 10pt; font-weight: bold; text-align: left"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">6,510</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left; padding-left: 10pt">Customer advances</td> <td style="font-size: 10pt; font-weight: bold"> </td> <td style="font-size: 10pt; font-weight: bold; text-align: left"> </td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">2,730</div></td> <td style="white-space: nowrap; font-size: 10pt; font-weight: bold; text-align: left"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,454</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; padding-bottom: 1pt; padding-left: 10pt">Other</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">87,632</div></td> <td style="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"> </td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">63,470</div></td> <td style="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; padding-bottom: 2.5pt"> </td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-size: 10pt; font-weight: bold; text-align: left">$</td> <td style="border-bottom: Black 2.5pt double; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">251,192</div></td> <td style="white-space: nowrap; border-bottom: Black 2.5pt double; font-size: 10pt; font-weight: bold; text-align: left"> </td> <td style="font-size: 10pt; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: left">$</td> <td style="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">165,444</div></td> <td style="white-space: nowrap; border-bottom: Black 2.5pt double; font-size: 10pt; text-align: left"> </td> </tr> </table></div>
<div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" align="center" style="border-collapse: collapse; min-; min-width: 700px;"> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 1%; font-size: 10pt; text-align: left"> </td> <td style="width: 48%; font-size: 10pt; text-align: right">2021</td> <td style="white-space: nowrap; width: 1%; font-size: 10pt; text-align: left"> </td> <td style="width: 1%; font-size: 10pt"> </td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td> <td style="width: 47%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">56,479</div></td> <td style="white-space: nowrap; width: 1%; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right">2022</td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">56,968</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right">2023</td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">54,536</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right">2024</td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">391,056</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-size: 10pt">2025 and thereafter</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">30,565</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> </tr> </table></div>
<div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; margin-left: 46px; min-; min-width: 700px;"> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; font-size: 10pt"> </td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2020</td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; text-align: right; border-bottom: Black 1pt solid">2019</td> </tr> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; font-size: 10pt"> </td> <td style="font-size: 10pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; text-align: right"> </td> <td style="font-size: 10pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 70%; font-size: 10pt; text-align: left">Gain on disposal of business</td> <td style="width: 1%; font-size: 10pt; font-weight: bold"> </td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">$</td> <td style="width: 12%; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="white-space: nowrap; width: 1%; font-size: 10pt; font-weight: bold; text-align: left"> </td> <td style="width: 1%; font-size: 10pt"> </td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td> <td style="width: 12%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(6,082</div></td> <td style="white-space: nowrap; width: 1%; font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Other (income) expense</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(361</div></td> <td style="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">)</td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">67</div></td> <td style="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">$</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(361</div></td> <td style="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">)</td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">$</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(6,015</div></td> <td style="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> </tr> </table></div>
<div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; margin-left: 46px; min-; min-width: 700px;"> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; font-size: 10pt"> </td> <td style="font-size: 10pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; text-align: right">Global</td> </tr> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; font-size: 10pt"> </td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; text-align: right; border-bottom: Black 1pt solid">Restoration</td> </tr> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; font-size: 10pt"> </td> <td style="font-size: 10pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; text-align: right"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 85%; font-size: 10pt; text-align: left">Accounts receivable</td> <td style="width: 1%; font-size: 10pt"> </td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td> <td style="width: 12%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">118,678</div></td> <td style="white-space: nowrap; width: 1%; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt">Inventories</td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">31,677</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Prepaid expenses and other current assets</td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">3,240</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Fixed assets</td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">22,574</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Operating lease right-of-use assets</td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">10,566</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Accounts payable</td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(24,337</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Accrued liabilities</td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(21,345</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Unearned revenues</td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(12,779</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Operating lease liabilities - current</td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(6,500</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Other current liabilities</td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(649</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Operating lease liabilities - non-current</td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(4,072</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Long-term debt - non-current</td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(5,711</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Other liabilities</td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(615</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Deferred tax liabilities</td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(51,590</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Redeemable non-controlling interests</td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(25,433</div></td> <td style="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">$</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">33,704</div></td> <td style="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"> </td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Cash consideration, net of cash acquired of $6,518</td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left">$</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(506,680</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"> </td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt">Backlog</td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left">$</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">7,130</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Customer relationships</td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">213,150</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Trademarks and trade names</td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,850</div></td> <td style="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; padding-bottom: 1pt">Goodwill</td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">$</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">250,846</div></td> <td style="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td> </tr> </table></div>
<div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; margin-left: 46px; min-; min-width: 700px;"> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; font-size: 10pt"> </td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2020</td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; text-align: right; border-bottom: Black 1pt solid">2019</td> </tr> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; font-size: 10pt"> </td> <td style="font-size: 10pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; text-align: right"> </td> <td style="font-size: 10pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold; text-align: left">United States</td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"> </td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"> </td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="width: 70%; font-size: 10pt">Revenues</td> <td style="width: 1%; font-size: 10pt; font-weight: bold"> </td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">$</td> <td style="width: 12%; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">2,441,025</div></td> <td style="white-space: nowrap; width: 1%; font-size: 10pt; font-weight: bold; text-align: left"> </td> <td style="width: 1%; font-size: 10pt"> </td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td> <td style="width: 12%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">2,184,789</div></td> <td style="white-space: nowrap; width: 1%; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Total long-lived assets</td> <td style="font-size: 10pt; font-weight: bold"> </td> <td style="font-size: 10pt; font-weight: bold; text-align: left"> </td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,072,466</div></td> <td style="white-space: nowrap; font-size: 10pt; font-weight: bold; text-align: left"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,022,721</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"> </td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"> </td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold">Canada</td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"> </td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"> </td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt">Revenues</td> <td style="font-size: 10pt; font-weight: bold"> </td> <td style="font-size: 10pt; font-weight: bold; text-align: left">$</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">331,390</div></td> <td style="white-space: nowrap; font-size: 10pt; font-weight: bold; text-align: left"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left">$</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">222,621</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Total long-lived assets</td> <td style="font-size: 10pt; font-weight: bold"> </td> <td style="font-size: 10pt; font-weight: bold; text-align: left"> </td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">289,788</div></td> <td style="white-space: nowrap; font-size: 10pt; font-weight: bold; text-align: left"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">252,788</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"> </td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"> </td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold">Consolidated</td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"> </td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"> </td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt">Revenues</td> <td style="font-size: 10pt; font-weight: bold"> </td> <td style="font-size: 10pt; font-weight: bold; text-align: left">$</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">2,772,415</div></td> <td style="white-space: nowrap; font-size: 10pt; font-weight: bold; text-align: left"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left">$</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">2,407,410</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Total long-lived assets</td> <td style="font-size: 10pt; font-weight: bold"> </td> <td style="font-size: 10pt; font-weight: bold; text-align: left"> </td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,362,254</div></td> <td style="white-space: nowrap; font-size: 10pt; font-weight: bold; text-align: left"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,275,509</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> </tr> </table></div>
<div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; margin-left: 46px; min-; min-width: 700px;"> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; font-size: 10pt"> </td> <td style="font-size: 10pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; text-align: right"> </td> <td style="font-size: 10pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; text-align: right"> </td> <td style="font-size: 10pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt"> </td> <td style="font-size: 10pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt"> </td> </tr> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; font-size: 10pt; font-weight: bold">2020</td> <td style="font-size: 10pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; text-align: right">FirstService</td> <td style="font-size: 10pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; text-align: right">FirstService</td> <td style="font-size: 10pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; text-align: right"> </td> <td style="font-size: 10pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; text-align: right"> </td> </tr> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; font-size: 10pt"> </td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; text-align: right; border-bottom: Black 1pt solid">Residential</td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; text-align: right; border-bottom: Black 1pt solid">Brands</td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; text-align: right; border-bottom: Black 1pt solid">Corporate</td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; text-align: right; border-bottom: Black 1pt solid">Consolidated</td> </tr> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; font-size: 10pt"> </td> <td style="font-size: 10pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; text-align: right"> </td> <td style="font-size: 10pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt"> </td> <td style="font-size: 10pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt"> </td> <td style="font-size: 10pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 40%; font-size: 10pt; padding-bottom: 1pt">Revenues</td> <td style="width: 1%; font-size: 10pt; padding-bottom: 1pt"> </td> <td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">$</td> <td style="width: 12%; border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,415,121</div></td> <td style="white-space: nowrap; width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td> <td style="width: 1%; font-size: 10pt; padding-bottom: 1pt"> </td> <td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">$</td> <td style="width: 12%; border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,357,294</div></td> <td style="white-space: nowrap; width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td> <td style="width: 1%; font-size: 10pt; padding-bottom: 1pt"> </td> <td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">$</td> <td style="width: 12%; border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="white-space: nowrap; width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td> <td style="width: 1%; font-size: 10pt; padding-bottom: 1pt"> </td> <td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">$</td> <td style="width: 12%; border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">2,772,415</div></td> <td style="white-space: nowrap; width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Depreciation and amortization</td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">26,846</div></td> <td style="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">71,442</div></td> <td style="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">94</div></td> <td style="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">98,382</div></td> <td style="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Operating earnings</td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">112,555</div></td> <td style="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">78,786</div></td> <td style="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(21,929</div></td> <td style="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; font-size: 10pt; text-align: left"> </td> <td style="padding-bottom: 1pt; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">169,412</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Other income, net</td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;"> </div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;"> </div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;"> </div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">361</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Interest expense, net</td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;"> </div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;"> </div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;"> </div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(24,318</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Income taxes</td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; font-size: 10pt; text-align: left"> </td> <td style="padding-bottom: 1pt; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;"> </div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; font-size: 10pt; text-align: left"> </td> <td style="padding-bottom: 1pt; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;"> </div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; font-size: 10pt; text-align: left"> </td> <td style="padding-bottom: 1pt; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;"> </div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(35,865</div></td> <td style="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"> </td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"> </td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"> </td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"> </td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left; padding-bottom: 2.5pt">Net earnings</td> <td style="font-size: 10pt; padding-bottom: 2.5pt"> </td> <td style="padding-bottom: 2.5pt; font-size: 10pt; text-align: left"> </td> <td style="padding-bottom: 2.5pt; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;"> </div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; padding-bottom: 2.5pt"> </td> <td style="padding-bottom: 2.5pt; font-size: 10pt; text-align: left"> </td> <td style="padding-bottom: 2.5pt; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;"> </div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; padding-bottom: 2.5pt"> </td> <td style="padding-bottom: 2.5pt; font-size: 10pt; text-align: left"> </td> <td style="padding-bottom: 2.5pt; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;"> </div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: left">$</td> <td style="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">109,590</div></td> <td style="white-space: nowrap; border-bottom: Black 2.5pt double; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"> </td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"> </td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"> </td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"> </td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Total assets</td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">$</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">662,616</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"> </td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">$</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,527,705</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"> </td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">$</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">6,219</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"> </td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: right">$</td> <td style="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">2,196,540</div></td> <td style="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: right"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt; font-size: 10pt; text-align: left">Total additions to long lived assets</td> <td style="padding-bottom: 1pt; font-size: 10pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">45,933</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"> </td> <td style="padding-bottom: 1pt; font-size: 10pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">133,157</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"> </td> <td style="padding-bottom: 1pt; font-size: 10pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,656</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"> </td> <td style="padding-bottom: 1pt; font-size: 10pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">180,746</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"> </td> </tr> </table></div><div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; margin-left: 46px; min-; min-width: 700px;"> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; font-size: 10pt">2019</td> <td style="font-size: 10pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; text-align: right">FirstService</td> <td style="font-size: 10pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; text-align: right">FirstService</td> <td style="font-size: 10pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; text-align: right"> </td> <td style="font-size: 10pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; text-align: right"> </td> </tr> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; font-size: 10pt"> </td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; text-align: right; border-bottom: Black 1pt solid">Residential</td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; text-align: right; border-bottom: Black 1pt solid">Brands</td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; text-align: right; border-bottom: Black 1pt solid">Corporate</td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; text-align: right; border-bottom: Black 1pt solid">Consolidated</td> </tr> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; font-size: 10pt"> </td> <td style="font-size: 10pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; text-align: right"> </td> <td style="font-size: 10pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt"> </td> <td style="font-size: 10pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt"> </td> <td style="font-size: 10pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 40%; font-size: 10pt; padding-bottom: 1pt">Revenues</td> <td style="width: 1%; font-size: 10pt; padding-bottom: 1pt"> </td> <td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">$</td> <td style="width: 12%; border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,411,998</div></td> <td style="white-space: nowrap; width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td> <td style="width: 1%; font-size: 10pt; padding-bottom: 1pt"> </td> <td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">$</td> <td style="width: 12%; border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">995,412</div></td> <td style="white-space: nowrap; width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td> <td style="width: 1%; font-size: 10pt; padding-bottom: 1pt"> </td> <td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">$</td> <td style="width: 12%; border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="white-space: nowrap; width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td> <td style="width: 1%; font-size: 10pt; padding-bottom: 1pt"> </td> <td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">$</td> <td style="width: 12%; border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">2,407,410</div></td> <td style="white-space: nowrap; width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Depreciation and amortization</td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">25,628</div></td> <td style="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">53,886</div></td> <td style="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">43</div></td> <td style="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">79,557</div></td> <td style="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Operating earnings (loss)</td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">104,706</div></td> <td style="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">60,586</div></td> <td style="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(339,711</div></td> <td style="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; font-size: 10pt; text-align: left"> </td> <td style="padding-bottom: 1pt; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(174,419</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Other expense, net</td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;"> </div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;"> </div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;"> </div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">6,015</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Interest expense, net</td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;"> </div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;"> </div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;"> </div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(32,080</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Income taxes</td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; font-size: 10pt; text-align: left"> </td> <td style="padding-bottom: 1pt; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;"> </div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; font-size: 10pt; text-align: left"> </td> <td style="padding-bottom: 1pt; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;"> </div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; font-size: 10pt; text-align: left"> </td> <td style="padding-bottom: 1pt; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;"> </div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(27,147</div></td> <td style="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"> </td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"> </td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"> </td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"> </td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left; padding-bottom: 2.5pt">Net earnings (loss)</td> <td style="font-size: 10pt; padding-bottom: 2.5pt"> </td> <td style="padding-bottom: 2.5pt; font-size: 10pt; text-align: left"> </td> <td style="padding-bottom: 2.5pt; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;"> </div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; padding-bottom: 2.5pt"> </td> <td style="padding-bottom: 2.5pt; font-size: 10pt; text-align: left"> </td> <td style="padding-bottom: 2.5pt; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;"> </div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; padding-bottom: 2.5pt"> </td> <td style="padding-bottom: 2.5pt; font-size: 10pt; text-align: left"> </td> <td style="padding-bottom: 2.5pt; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;"> </div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: left">$</td> <td style="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(227,631</div></td> <td style="white-space: nowrap; border-bottom: Black 2.5pt double; font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"> </td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"> </td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"> </td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"> </td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Total assets</td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">$</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">625,310</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"> </td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">$</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,323,024</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"> </td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">$</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">7,135</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"> </td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: right">$</td> <td style="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,955,469</div></td> <td style="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: right"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt; font-size: 10pt; text-align: left">Total additions to long lived assets</td> <td style="padding-bottom: 1pt; font-size: 10pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">112,482</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"> </td> <td style="padding-bottom: 1pt; font-size: 10pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">636,555</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"> </td> <td style="padding-bottom: 1pt; font-size: 10pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">308</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"> </td> <td style="padding-bottom: 1pt; font-size: 10pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">749,345</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"> </td> </tr> </table></div>
<div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; margin-left: 46px; min-; min-width: 700px;"> <tr style="vertical-align: bottom"> <td style="text-indent: -10pt; padding-left: 10pt; white-space: nowrap; font-size: 10pt"> </td> <td style="font-size: 10pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt"> </td> <td style="font-size: 10pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt"> </td> <td style="font-size: 10pt; font-weight: bold"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; font-weight: bold; text-align: right">Weighted average</td> <td style="font-size: 10pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt"> </td> </tr> <tr style="vertical-align: bottom"> <td style="text-indent: -10pt; padding-left: 10pt; white-space: nowrap; font-size: 10pt"> </td> <td style="font-size: 10pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt"> </td> <td style="font-size: 10pt; font-weight: bold"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; font-weight: bold; text-align: right">Weighted</td> <td style="font-size: 10pt; font-weight: bold"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; font-weight: bold; text-align: right">remaining</td> <td style="font-size: 10pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt"> </td> </tr> <tr style="vertical-align: bottom"> <td style="text-indent: -10pt; padding-left: 10pt; white-space: nowrap; font-size: 10pt"> </td> <td style="font-size: 10pt; font-weight: bold"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; font-weight: bold; text-align: right">Number of</td> <td style="font-size: 10pt; font-weight: bold"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; font-weight: bold; text-align: right">average</td> <td style="font-size: 10pt; font-weight: bold"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; font-weight: bold; text-align: right">contractual life</td> <td style="font-size: 10pt; font-weight: bold"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; font-weight: bold; text-align: right">Aggregate</td> </tr> <tr style="vertical-align: bottom"> <td style="text-indent: -10pt; padding-left: 10pt; white-space: nowrap; font-size: 10pt"> </td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">options</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">exercise price</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">(years)</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">intrinsic value</td> </tr> <tr style="vertical-align: bottom"> <td style="text-indent: -10pt; padding-left: 10pt; white-space: nowrap; font-size: 10pt"> </td> <td style="font-size: 10pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; text-align: right"> </td> <td style="font-size: 10pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; text-align: right"> </td> <td style="font-size: 10pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt"> </td> <td style="font-size: 10pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left; text-indent: -30pt; padding-left: 30pt">Shares issuable under options - Beginning of period</td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,639,100</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left">$</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">60.26</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;"> </div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;"> </div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-indent: -30pt; padding-left: 30pt">Granted</td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">542,000</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">114.90</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;"> </div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;"> </div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-indent: -30pt; padding-left: 30pt">Exercised</td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(294,238</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">40.34</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;"> </div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;"> </div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; padding-bottom: 1pt; text-indent: -30pt; padding-left: 30pt">Forfeited</td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(3,750</div></td> <td style="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; font-size: 10pt; text-align: left"> </td> <td style="padding-bottom: 1pt; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">54.88</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; font-size: 10pt; text-align: left"> </td> <td style="padding-bottom: 1pt; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;"> </div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; font-size: 10pt; text-align: left"> </td> <td style="padding-bottom: 1pt; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;"> </div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt; text-indent: -30pt; padding-left: 30pt">Shares issuable under options - December 31, 2020</td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,883,112</div></td> <td style="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">$</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">79.11</div></td> <td style="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">2.6</div></td> <td style="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">$</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">108,772</div></td> <td style="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; padding-bottom: 1pt; text-indent: -30pt; padding-left: 30pt">Options exercisable - End of period</td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">714,014</div></td> <td style="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">$</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">60.63</div></td> <td style="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1.6</div></td> <td style="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">$</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">54,383</div></td> <td style="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td> </tr> </table></div>
<div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; margin-left: 46px; min-; min-width: 700px;"> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; font-size: 10pt"> </td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2020</td> </tr> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; font-size: 10pt"> </td> <td style="font-size: 10pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 85%; font-size: 10pt; text-align: left">Risk free rate</td> <td style="width: 1%; font-size: 10pt; font-weight: bold"> </td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"> </td> <td style="width: 12%; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1.3</div></td> <td style="white-space: nowrap; width: 1%; font-size: 10pt; font-weight: bold; text-align: left">%</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Expected life in years</td> <td style="font-size: 10pt; font-weight: bold"> </td> <td style="font-size: 10pt; font-weight: bold; text-align: left"> </td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">4.75</div></td> <td style="white-space: nowrap; font-size: 10pt; font-weight: bold; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Expected volatility</td> <td style="font-size: 10pt; font-weight: bold"> </td> <td style="font-size: 10pt; font-weight: bold; text-align: left"> </td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">30.5</div></td> <td style="white-space: nowrap; font-size: 10pt; font-weight: bold; text-align: left">%</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Dividend yield</td> <td style="font-size: 10pt; font-weight: bold"> </td> <td style="font-size: 10pt; font-weight: bold; text-align: left"> </td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">0.5</div></td> <td style="white-space: nowrap; font-size: 10pt; font-weight: bold; text-align: left">%</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"> </td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt">Weighted average fair value per option granted</td> <td style="font-size: 10pt; font-weight: bold"> </td> <td style="font-size: 10pt; font-weight: bold; text-align: left">$</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">29.56</div></td> <td style="white-space: nowrap; font-size: 10pt; font-weight: bold; text-align: left"> </td> </tr> </table></div>
<div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; margin-left: 46px; min-; min-width: 700px;"> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; font-size: 10pt"> </td> <td style="font-size: 10pt; font-style: italic"> </td> <td colspan="7" style="white-space: nowrap; font-size: 10pt; font-style: italic; text-align: center">Common Shares</td> </tr> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; font-size: 10pt"> </td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; text-align: right; border-bottom: Black 1pt solid">Number</td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; text-align: right; border-bottom: Black 1pt solid">Amount</td> </tr> <tr style="vertical-align: bottom"> <td style="width: 70%; font-size: 10pt"> </td> <td style="width: 1%; font-size: 10pt"> </td> <td style="width: 1%; font-size: 10pt; text-align: left"> </td> <td style="width: 12%; font-size: 10pt; text-align: right"> </td> <td style="white-space: nowrap; width: 1%; font-size: 10pt; text-align: left"> </td> <td style="width: 1%; font-size: 10pt"> </td> <td style="width: 1%; font-size: 10pt; text-align: left"> </td> <td style="width: 12%; font-size: 10pt; text-align: right"> </td> <td style="white-space: nowrap; width: 1%; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt">Balance, December 31, 2020</td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">43,587,554</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left">$</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">770,032</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> </tr> </table></div>
<div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" align="center" style="border-collapse: collapse; min-; min-width: 700px;"> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 1%; font-size: 10pt; text-align: left"> </td> <td style="width: 48%; font-size: 10pt; text-align: right">2021</td> <td style="white-space: nowrap; width: 1%; font-size: 10pt; text-align: left"> </td> <td style="width: 1%; font-size: 10pt"> </td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td> <td style="width: 47%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">42,298</div></td> <td style="white-space: nowrap; width: 1%; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right">2022</td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">40,823</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right">2023</td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">39,373</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right">2024</td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">37,534</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right">2025</td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">36,759</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> </tr> </table></div>
<div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;"> <tr style="vertical-align: top"> <td style="width: 0.5in"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-style: italic; font: inherit;">22.</div></div></td> <td><div style="display: inline; font-weight: bold;">Segmented information</div></td> </tr> </table> <div style=" font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in"> </div> <div style=" font-size: 10pt; margin: 0pt 0 0pt 0.5in"><div style="display: inline; font-style: italic;">Operating segments</div></div> <div style=" font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in">The Company has <div style="display: inline; font-style: italic; font: inherit;">two</div> reportable operating segments. The segments are grouped with reference to the nature of services provided and the types of clients that use those services. The Company assesses each segment's performance based on operating earnings or operating earnings before depreciation and amortization. FirstService Residential provides property management and related property services to residential communities in North America. FirstService Brands provides franchised and company-owned property services to customers in North America. Corporate includes the costs of operating the Company's corporate head office. The reportable segment information excludes intersegment transactions.</div> <div style=" margin: 0pt 0 0pt 0.5in; font-size: 10pt; text-align: justify"> </div> <!-- Field: /Page --> <div style=" margin: 0pt 0 0pt 0.5in; font-size: 10pt; text-align: justify"></div> <div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; margin-left: 46px; min-width: 700px;"> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; font-size: 10pt"> </td> <td style="font-size: 10pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; text-align: right"> </td> <td style="font-size: 10pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; text-align: right"> </td> <td style="font-size: 10pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt"> </td> <td style="font-size: 10pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt"> </td> </tr> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; font-size: 10pt; font-weight: bold">2020</td> <td style="font-size: 10pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; text-align: right">FirstService</td> <td style="font-size: 10pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; text-align: right">FirstService</td> <td style="font-size: 10pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; text-align: right"> </td> <td style="font-size: 10pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; text-align: right"> </td> </tr> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; font-size: 10pt"> </td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; text-align: right; border-bottom: Black 1pt solid">Residential</td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; text-align: right; border-bottom: Black 1pt solid">Brands</td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; text-align: right; border-bottom: Black 1pt solid">Corporate</td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; text-align: right; border-bottom: Black 1pt solid">Consolidated</td> </tr> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; font-size: 10pt"> </td> <td style="font-size: 10pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; text-align: right"> </td> <td style="font-size: 10pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt"> </td> <td style="font-size: 10pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt"> </td> <td style="font-size: 10pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 40%; font-size: 10pt; padding-bottom: 1pt">Revenues</td> <td style="width: 1%; font-size: 10pt; padding-bottom: 1pt"> </td> <td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">$</td> <td style="width: 12%; border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,415,121</div></td> <td style="white-space: nowrap; width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td> <td style="width: 1%; font-size: 10pt; padding-bottom: 1pt"> </td> <td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">$</td> <td style="width: 12%; border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,357,294</div></td> <td style="white-space: nowrap; width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td> <td style="width: 1%; font-size: 10pt; padding-bottom: 1pt"> </td> <td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">$</td> <td style="width: 12%; border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="white-space: nowrap; width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td> <td style="width: 1%; font-size: 10pt; padding-bottom: 1pt"> </td> <td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">$</td> <td style="width: 12%; border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">2,772,415</div></td> <td style="white-space: nowrap; width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Depreciation and amortization</td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">26,846</div></td> <td style="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">71,442</div></td> <td style="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">94</div></td> <td style="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">98,382</div></td> <td style="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Operating earnings</td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">112,555</div></td> <td style="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">78,786</div></td> <td style="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(21,929</div></td> <td style="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; font-size: 10pt; text-align: left"> </td> <td style="padding-bottom: 1pt; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">169,412</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Other income, net</td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;"> </div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;"> </div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;"> </div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">361</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Interest expense, net</td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;"> </div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;"> </div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;"> </div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(24,318</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Income taxes</td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; font-size: 10pt; text-align: left"> </td> <td style="padding-bottom: 1pt; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;"> </div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; font-size: 10pt; text-align: left"> </td> <td style="padding-bottom: 1pt; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;"> </div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; font-size: 10pt; text-align: left"> </td> <td style="padding-bottom: 1pt; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;"> </div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(35,865</div></td> <td style="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"> </td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"> </td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"> </td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"> </td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left; padding-bottom: 2.5pt">Net earnings</td> <td style="font-size: 10pt; padding-bottom: 2.5pt"> </td> <td style="padding-bottom: 2.5pt; font-size: 10pt; text-align: left"> </td> <td style="padding-bottom: 2.5pt; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;"> </div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; padding-bottom: 2.5pt"> </td> <td style="padding-bottom: 2.5pt; font-size: 10pt; text-align: left"> </td> <td style="padding-bottom: 2.5pt; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;"> </div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; padding-bottom: 2.5pt"> </td> <td style="padding-bottom: 2.5pt; font-size: 10pt; text-align: left"> </td> <td style="padding-bottom: 2.5pt; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;"> </div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: left">$</td> <td style="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">109,590</div></td> <td style="white-space: nowrap; border-bottom: Black 2.5pt double; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"> </td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"> </td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"> </td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"> </td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Total assets</td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">$</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">662,616</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"> </td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">$</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,527,705</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"> </td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">$</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">6,219</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"> </td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: right">$</td> <td style="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">2,196,540</div></td> <td style="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: right"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt; font-size: 10pt; text-align: left">Total additions to long lived assets</td> <td style="padding-bottom: 1pt; font-size: 10pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">45,933</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"> </td> <td style="padding-bottom: 1pt; font-size: 10pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">133,157</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"> </td> <td style="padding-bottom: 1pt; font-size: 10pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,656</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"> </td> <td style="padding-bottom: 1pt; font-size: 10pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">180,746</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"> </td> </tr> </table> </div> <div style=" margin: 0"> </div> <div style=" margin: 0"> </div> <div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; margin-left: 46px; min-width: 700px;"> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; font-size: 10pt">2019</td> <td style="font-size: 10pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; text-align: right">FirstService</td> <td style="font-size: 10pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; text-align: right">FirstService</td> <td style="font-size: 10pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; text-align: right"> </td> <td style="font-size: 10pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; text-align: right"> </td> </tr> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; font-size: 10pt"> </td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; text-align: right; border-bottom: Black 1pt solid">Residential</td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; text-align: right; border-bottom: Black 1pt solid">Brands</td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; text-align: right; border-bottom: Black 1pt solid">Corporate</td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; text-align: right; border-bottom: Black 1pt solid">Consolidated</td> </tr> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; font-size: 10pt"> </td> <td style="font-size: 10pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; text-align: right"> </td> <td style="font-size: 10pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt"> </td> <td style="font-size: 10pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt"> </td> <td style="font-size: 10pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 40%; font-size: 10pt; padding-bottom: 1pt">Revenues</td> <td style="width: 1%; font-size: 10pt; padding-bottom: 1pt"> </td> <td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">$</td> <td style="width: 12%; border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,411,998</div></td> <td style="white-space: nowrap; width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td> <td style="width: 1%; font-size: 10pt; padding-bottom: 1pt"> </td> <td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">$</td> <td style="width: 12%; border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">995,412</div></td> <td style="white-space: nowrap; width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td> <td style="width: 1%; font-size: 10pt; padding-bottom: 1pt"> </td> <td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">$</td> <td style="width: 12%; border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="white-space: nowrap; width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td> <td style="width: 1%; font-size: 10pt; padding-bottom: 1pt"> </td> <td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">$</td> <td style="width: 12%; border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">2,407,410</div></td> <td style="white-space: nowrap; width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Depreciation and amortization</td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">25,628</div></td> <td style="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">53,886</div></td> <td style="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">43</div></td> <td style="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">79,557</div></td> <td style="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Operating earnings (loss)</td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">104,706</div></td> <td style="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">60,586</div></td> <td style="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(339,711</div></td> <td style="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; font-size: 10pt; text-align: left"> </td> <td style="padding-bottom: 1pt; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(174,419</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Other expense, net</td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;"> </div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;"> </div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;"> </div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">6,015</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Interest expense, net</td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;"> </div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;"> </div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;"> </div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(32,080</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Income taxes</td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; font-size: 10pt; text-align: left"> </td> <td style="padding-bottom: 1pt; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;"> </div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; font-size: 10pt; text-align: left"> </td> <td style="padding-bottom: 1pt; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;"> </div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; font-size: 10pt; text-align: left"> </td> <td style="padding-bottom: 1pt; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;"> </div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(27,147</div></td> <td style="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"> </td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"> </td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"> </td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"> </td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left; padding-bottom: 2.5pt">Net earnings (loss)</td> <td style="font-size: 10pt; padding-bottom: 2.5pt"> </td> <td style="padding-bottom: 2.5pt; font-size: 10pt; text-align: left"> </td> <td style="padding-bottom: 2.5pt; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;"> </div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; padding-bottom: 2.5pt"> </td> <td style="padding-bottom: 2.5pt; font-size: 10pt; text-align: left"> </td> <td style="padding-bottom: 2.5pt; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;"> </div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; padding-bottom: 2.5pt"> </td> <td style="padding-bottom: 2.5pt; font-size: 10pt; text-align: left"> </td> <td style="padding-bottom: 2.5pt; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;"> </div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: left">$</td> <td style="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(227,631</div></td> <td style="white-space: nowrap; border-bottom: Black 2.5pt double; font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"> </td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"> </td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"> </td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"> </td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Total assets</td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">$</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">625,310</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"> </td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">$</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,323,024</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"> </td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">$</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">7,135</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"> </td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: right">$</td> <td style="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,955,469</div></td> <td style="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: right"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt; font-size: 10pt; text-align: left">Total additions to long lived assets</td> <td style="padding-bottom: 1pt; font-size: 10pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">112,482</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"> </td> <td style="padding-bottom: 1pt; font-size: 10pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">636,555</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"> </td> <td style="padding-bottom: 1pt; font-size: 10pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">308</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"> </td> <td style="padding-bottom: 1pt; font-size: 10pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">749,345</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"> </td> </tr> </table> </div> <div style=" font-size: 10pt; margin: 0pt 0"> </div> <div style=" font-size: 10pt; margin: 0pt 0 0pt 0.5in"><div style="display: inline; font-style: italic;">Geographic information</div></div> <div style=" font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in">Revenues in each geographic region are reported by customer locations.</div> <div style=" font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in"> </div> <div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; margin-left: 46px; min-width: 700px;"> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; font-size: 10pt"> </td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2020</td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; text-align: right; border-bottom: Black 1pt solid">2019</td> </tr> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; font-size: 10pt"> </td> <td style="font-size: 10pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; text-align: right"> </td> <td style="font-size: 10pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold; text-align: left">United States</td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"> </td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"> </td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="width: 70%; font-size: 10pt">Revenues</td> <td style="width: 1%; font-size: 10pt; font-weight: bold"> </td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">$</td> <td style="width: 12%; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">2,441,025</div></td> <td style="white-space: nowrap; width: 1%; font-size: 10pt; font-weight: bold; text-align: left"> </td> <td style="width: 1%; font-size: 10pt"> </td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td> <td style="width: 12%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">2,184,789</div></td> <td style="white-space: nowrap; width: 1%; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Total long-lived assets</td> <td style="font-size: 10pt; font-weight: bold"> </td> <td style="font-size: 10pt; font-weight: bold; text-align: left"> </td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,072,466</div></td> <td style="white-space: nowrap; font-size: 10pt; font-weight: bold; text-align: left"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,022,721</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"> </td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"> </td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold">Canada</td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"> </td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"> </td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt">Revenues</td> <td style="font-size: 10pt; font-weight: bold"> </td> <td style="font-size: 10pt; font-weight: bold; text-align: left">$</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">331,390</div></td> <td style="white-space: nowrap; font-size: 10pt; font-weight: bold; text-align: left"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left">$</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">222,621</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Total long-lived assets</td> <td style="font-size: 10pt; font-weight: bold"> </td> <td style="font-size: 10pt; font-weight: bold; text-align: left"> </td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">289,788</div></td> <td style="white-space: nowrap; font-size: 10pt; font-weight: bold; text-align: left"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">252,788</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"> </td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"> </td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold">Consolidated</td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"> </td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"> </td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt">Revenues</td> <td style="font-size: 10pt; font-weight: bold"> </td> <td style="font-size: 10pt; font-weight: bold; text-align: left">$</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">2,772,415</div></td> <td style="white-space: nowrap; font-size: 10pt; font-weight: bold; text-align: left"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left">$</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">2,407,410</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Total long-lived assets</td> <td style="font-size: 10pt; font-weight: bold"> </td> <td style="font-size: 10pt; font-weight: bold; text-align: left"> </td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,362,254</div></td> <td style="white-space: nowrap; font-size: 10pt; font-weight: bold; text-align: left"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,275,509</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> </tr> </table> </div></div>
628523000
546257000
150000000
251503000
P5Y
P4Y
0.005
0.305
0.013
151250
714014
60.63
22224000
3750
542000
29.56
108772
1639100
1883112
60.26
79.11
108772000
40.34
54.88
114.90
<div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style=" font-size: 10pt; margin: 0pt 0 0pt 0.5in"><div style="display: inline; font-weight: bold;">Stock-based compensation</div></div> <div style=" font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in">For equity classified awards, compensation cost is measured at the grant date based on the estimated fair value of the award. The related stock option compensation expense is allocated using the graded attribution method.</div></div></div>
35.96
140.03
P15Y
P5Y
P4Y273D
54383000
P1Y219D
P2Y219D
P2Y171D
7060000
4711000
35980047
41495957
43587554
<div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;"> <tr style="vertical-align: top"> <td style="width: 0"></td> <td style="width: 0.5in"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-style: italic; font: inherit;">3.</div></div></td> <td><div style="display: inline; font-weight: bold;">Summary of significant accounting policies</div></td> </tr> </table> <div style=" font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in"> </div> <div style=" font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in">The preparation of consolidated financial statements in accordance with accounting principles generally accepted in the United States of America (“GAAP”) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the reporting period. The most significant estimates are related to the determination of fair values of assets acquired and liabilities assumed in business combinations, recoverability of goodwill and intangible assets, and the collectability of accounts receivable. Actual results could be materially different from these estimates.</div> <div style=" font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in"> </div> <!-- Field: /Page --> <div style=" margin: 0pt 0 0pt 0.5in; font-size: 10pt; text-align: justify">Significant accounting policies are summarized as follows:</div> <div style=" font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in"> </div> <div style=" font-size: 10pt; margin: 0pt 0 0pt 0.5in"><div style="display: inline; font-weight: bold;"></div></div> <div style="display: inline; font-style: italic; font: inherit;"><div style=" font-size: 10pt; margin: 0pt 0 0pt 0.5in"><div style="display: inline; font-weight: bold;">Basis of consolidation</div></div> <div style=" font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in">The consolidated financial statements include the accounts of the Company and its majority-owned subsidiaries where the Company is the primary beneficiary. Where the Company does <div style="display: inline; font-style: italic; font: inherit;">not</div> have a controlling interest but has the ability to exert significant influence, the equity method is used. Inter-company transactions and accounts are eliminated on consolidation.</div> <div style=" font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in"> </div></div> <div style=" font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in"></div> <div style=" font-size: 10pt; margin: 0pt 0 0pt 0.5in"><div style="display: inline; font-weight: bold;"></div></div> <div style="display: inline; font-style: italic; font: inherit;"><div style=" font-size: 10pt; margin: 0pt 0 0pt 0.5in"><div style="display: inline; font-weight: bold;">Cash and cash equivalents</div></div> <div style=" font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in">Cash equivalents consist of short-term interest-bearing securities, which are readily convertible into cash and have original maturities at the date of purchase of <div style="display: inline; font-style: italic; font: inherit;">three</div> months or less.</div> <div style=" font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in"> </div></div> <div style=" font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in"></div> <div style=" font-size: 10pt; margin: 0pt 0 0pt 0.5in"><div style="display: inline; font-weight: bold;"></div></div> <div style="display: inline; font-style: italic; font: inherit;"><div style=" font-size: 10pt; margin: 0pt 0 0pt 0.5in"><div style="display: inline; font-weight: bold;">Restricted cash</div></div> <div style=" font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in">Restricted cash consists of cash over which the Company has legal ownership but is restricted as to its availability or intended use, including funds held on behalf of clients and franchisees.</div> <div style=" font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in"> </div> <div style=" font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in">The Company's restricted cash balance consists primarily of cash related to our marketing funds in the FirstService Brands segment, cash held for certain employees' benefit plans, and cash held for insurance broker commissions owed in our FirstService Residential segment. This update has been applied retrospectively.</div> <div style=" font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in"> </div></div> <div style=" font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in"></div> <div style=" font-size: 10pt; margin: 0pt 0 0pt 0.5in"><div style="display: inline; font-weight: bold;"></div></div> <div style="display: inline; font-style: italic; font: inherit;"><div style=" font-size: 10pt; margin: 0pt 0 0pt 0.5in"><div style="display: inline; font-weight: bold;">Accounts Receivable</div></div> <div style=" font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in">In the ordinary course of business the Company extends non-interest bearing trade credit to its customers. Accounts receivable are reported on the face of the consolidated balance sheets, net of an allowance for doubtful accounts. The Company maintains an allowance for doubtful accounts to provide for the estimated amount of receivables that will <div style="display: inline; font-style: italic; font: inherit;">not</div> be collected. In determining the allowance for doubtful accounts, the Company analyzes the aging of accounts receivable, historical payment experience, customer creditworthiness and current economic trends.</div> <div style=" font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in"> </div> <div style=" font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in"><div style="display: inline; font-style: italic;">Credit Losses </div></div> <div style=" font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in">On <div style="display: inline; font-style: italic; font: inherit;"> January 1, 2020, </div>the Company adopted ASU <div style="display: inline; font-style: italic; font: inherit;">2016</div>-<div style="display: inline; font-style: italic; font: inherit;">13,</div> Measurement of Credit Losses on Financial Instruments (Topic <div style="display: inline; font-style: italic; font: inherit;">326</div>), which replaces existing incurred loss impairment guidance and establishes a single allowance framework for financial assets carried at amortized cost. The Company adopted Topic <div style="display: inline; font-style: italic; font: inherit;">326</div> using a modified retrospective approach, which requires a cumulative-effect adjustment, if any, to the opening balance of retained earnings (deficit) to be recognized on the date of adoption with prior periods <div style="display: inline; font-style: italic; font: inherit;">not</div> restated. The cumulative-effect adjustment recorded on <div style="display: inline; font-style: italic; font: inherit;"> January 1, 2020 </div>was <div style="display: inline; font-style: italic; font: inherit;">not</div> material.</div> <div style=" font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in"> </div> <div style=" font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in">Accounting policy for Credit Losses</div> <div style=" font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in">Accounts receivable: The allowance for doubtful accounts is based on the Company's assessment of the collectability of customer accounts. The measurement of expected credit losses is based on relevant information about past events, including historical experience, credit quality, the age of the accounts receivable balances, and current economic conditions that <div style="display: inline; font-style: italic; font: inherit;"> may </div>impact a customer's ability to pay.</div> <div style=" font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in"> </div> <div style=" margin: 0pt 0 0pt 0.5in; font-size: 10pt; text-align: justify"><div style="display: inline; font-size: 10pt">A reconciliation of our allowance for doubtful accounts is found below:</div></div> <div style=" margin: 0pt 0 0pt 0.5in; font-size: 10pt; text-align: justify"> </div> <div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; margin-left: 46px; min-width: 700px;"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt; white-space: nowrap; font-size: 10pt; font-weight: bold">(In thousands)</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2020</td> </tr> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; font-size: 10pt"> </td> <td style="font-size: 10pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; text-align: right"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 85%; font-size: 10pt; text-align: left">Allowance for doubtful accounts, December 31, 2019</td> <td style="width: 1%; font-size: 10pt"> </td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td> <td style="width: 12%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">13,136</div></td> <td style="white-space: nowrap; width: 1%; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Bad debt expense</td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">11,624</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Write-offs to accounts receivable</td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">(9,446</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Recoveries to accounts receivable</td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">169</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Adjustment to opening retained earnings</td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">53</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; padding-bottom: 1pt">Other</td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">286</div></td> <td style="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Allowance for doubtful accounts, December 31, 2020</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">$</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">15,822</div></td> <td style="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"> </td> </tr> </table> </div> <div style=" font-size: 10pt; margin: 0pt 0"> </div></div> <!-- Field: /Page --> <div style=" margin: 0pt 0 0pt 0.5in; font-size: 10pt"><div style="display: inline; font-weight: bold;"></div></div> <div style="display: inline; font-style: italic; font: inherit;"><div style=" margin: 0pt 0 0pt 0.5in; font-size: 10pt"><div style="display: inline; font-weight: bold;">Inventories</div></div> <div style=" font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in">Inventories are carried at the lower of cost and net realizable value. Cost is determined using the weighted average method. Work-in-progress inventory relates to construction contracts and real estate project management projects in process.</div> <div style=" font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in"> </div></div> <div style=" font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in"></div> <div style=" font-size: 10pt; margin: 0pt 0 0pt 0.5in"><div style="display: inline; font-weight: bold;"></div></div> <div style="display: inline; font-style: italic; font: inherit;"><div style=" font-size: 10pt; margin: 0pt 0 0pt 0.5in"><div style="display: inline; font-weight: bold;">Fixed assets</div></div> <div style=" font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in">Fixed assets are carried at cost less accumulated depreciation. The costs of additions and improvements are capitalized, while maintenance and repairs are expensed as incurred. Fixed assets are reviewed for impairment whenever events or circumstances indicate that the carrying value of an asset group <div style="display: inline; font-style: italic; font: inherit;"> may </div><div style="display: inline; font-style: italic; font: inherit;">not</div> be recoverable. An impairment loss is recorded to the extent the carrying amount exceeds the estimated fair value of an asset group. Fixed assets are depreciated over their estimated useful lives as follows:</div> <div style=" font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in"> </div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;"> <tr style="vertical-align: bottom"> <td style="width: 50%; font-size: 10pt; padding-left: 0.5in">Buildings</td> <td style="width: 1%; font-size: 10pt"> </td> <td style="width: 49%; font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font: inherit;">20</div> to <div style="display: inline; font-style: italic; font: inherit;">40</div> years straight-line</td> </tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt; padding-left: 0.5in">Vehicles</td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font: inherit;">3</div> to <div style="display: inline; font-style: italic; font: inherit;">5</div> years straight-line</td> </tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt; text-align: left; padding-left: 0.5in">Furniture and equipment</td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font: inherit;">3</div> to <div style="display: inline; font-style: italic; font: inherit;">10</div> years straight-line</td> </tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt; text-align: left; padding-left: 0.5in">Computer equipment and software</td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font: inherit;">3</div> to <div style="display: inline; font-style: italic; font: inherit;">5</div> years straight-line</td> </tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt; text-align: left; padding-left: 0.5in">Leasehold improvements</td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left">term of the lease to a maximum of <div style="display: inline; font-style: italic; font: inherit;">10</div> years straight-line</td> </tr> </table> <div style=" font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in"> </div></div> <div style=" font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in"></div> <div style=" font-size: 10pt; margin: 0pt 0 0pt 0.5in"><div style="display: inline; font-weight: bold;"></div></div> <div style="display: inline; font-style: italic; font: inherit;"><div style=" font-size: 10pt; margin: 0pt 0 0pt 0.5in"><div style="display: inline; font-weight: bold;">Fair value</div></div> <div style=" font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in">The Company uses the fair value measurements framework for financial assets and liabilities and for non-financial assets and liabilities that are recognized or disclosed at fair value on a non-recurring basis. The framework defines fair value, gives guidance for measurement and disclosure, and establishes a <div style="display: inline; font-style: italic; font: inherit;">three</div>-level hierarchy for observable and unobservable inputs used to measure fair value. The classification of an asset or liability within the hierarchy is determined based on the lowest level input that is significant to the fair value measurement. The <div style="display: inline; font-style: italic; font: inherit;">three</div> levels are as follows:</div> <div style=" font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in"> </div> <div style=" font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in">Level <div style="display: inline; font-style: italic; font: inherit;">1</div> – Quoted prices (unadjusted) in active markets for identical assets or liabilities</div> <div style=" font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in">Level <div style="display: inline; font-style: italic; font: inherit;">2</div> – Observable market-based inputs other than quoted prices in active markets for identical assets or liabilities</div> <div style=" font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in">Level <div style="display: inline; font-style: italic; font: inherit;">3</div> – Unobservable inputs for which there is little or <div style="display: inline; font-style: italic; font: inherit;">no</div> market data, which requires the Company to develop its own assumptions</div> <div style=" font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in"> </div></div> <div style=" font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in"></div> <div style=" font-size: 10pt; margin: 0pt 0 0pt 0.5in"><div style="display: inline; font-weight: bold;"></div></div> <div style="display: inline; font-style: italic; font: inherit;"><div style=" font-size: 10pt; margin: 0pt 0 0pt 0.5in"><div style="display: inline; font-weight: bold;">Financing fees</div></div> <div style=" font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in">Financing fees related to our amended and restated credit agreement (the “Credit Agreement”) with a syndicate of lenders and our <div style="display: inline; font-style: italic; font: inherit;">$150,000</div> of senior secured notes (the “Senior Notes”) are deferred and amortized to interest expense using the effective interest method.</div> <div style=" font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in"> </div></div> <div style=" font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in"></div> <div style=" font-size: 10pt; margin: 0pt 0 0pt 0.5in"><div style="display: inline; font-weight: bold;"></div></div> <div style="display: inline; font-style: italic; font: inherit;"><div style=" font-size: 10pt; margin: 0pt 0 0pt 0.5in"><div style="display: inline; font-weight: bold;">Leases</div></div> <div style=" font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in">The Company adopted ASU <div style="display: inline; font-style: italic; font: inherit;">842,</div> Leases, as of <div style="display: inline; font-style: italic; font: inherit;"> January </div><div style="display: inline; font-style: italic; font: inherit;">1,</div> <div style="display: inline; font-style: italic; font: inherit;">2019,</div> using the modified retrospective approach. In addition, the Company elected the package of practical expedients permitted under the transition guidance within the new standard, which among other things, allowed the Company to carry forward the historical lease classification.</div> <div style=" font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in"> </div> <div style=" font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in">The Company has lease agreements with lease and non-lease components, and has elected to account for each lease component (e.g., fixed rent payments) separately from the non-lease components (e.g., common-area maintenance costs). The Company has also elected <div style="display: inline; font-style: italic; font: inherit;">not</div> to recognize the right-of-use assets and lease liabilities for short-term leases that have a lease term of <div style="display: inline; font-style: italic; font: inherit;">12</div> months or less. Leases are recognized on the balance sheet when the lease term commences, and the associated lease payments are recognized as an expense on a straight-line basis over the lease term.</div> <div style=" font-size: 10pt; margin: 0pt 0"><div style="display: inline; font-weight: bold;"> </div></div> <div style=" font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in">At lease commencement, which is generally when the Company takes possession of the asset, the Company records a lease liability and a corresponding right-of-use asset. Lease liabilities represent the present value of minimum lease payments over the expected lease term, which includes options to extend or terminate the lease when it is reasonably certain those options will be exercised. The present value of the lease liability is determined using the Company's incremental collateralized borrowing rate at the lease commencement.</div> <div style=" font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in"> </div> <!-- Field: /Page --> <div style=" margin: 0pt 0 0pt 0.5in; font-size: 10pt; text-align: justify">Minimum lease payments include base rent, fixed escalation of rental payments, and rental payments that are adjusted periodically depending on a rate or index. In determining minimum lease payments, the Company does <div style="display: inline; font-style: italic; font: inherit;">not</div> separate non-lease components for real estate leases. Non-lease components are generally services that the lessor performs for the Company associated with the leased asset, such as common area maintenance.</div> <div style=" font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in"> </div> <div style=" font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in">Right-of-use assets represent the right to control the use of the leased asset during the lease and are initially recognized in an amount equal to the lease liability. In addition, prepaid rent, initial direct costs, and adjustments for lease incentives are components of the right-of-use asset. Over the lease term the lease expense is amortized on a straight-line basis beginning on the lease commencement date. Right-of-use assets are assessed for impairment as part of the impairment of long-lived assets, which is performed whenever events or changes in circumstances indicate that the carrying amount of an asset or asset group <div style="display: inline; font-style: italic; font: inherit;"> may </div><div style="display: inline; font-style: italic; font: inherit;">not</div> be recoverable.</div> <div style=" font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in"> </div></div> <div style=" font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in"></div> <div style=" font-size: 10pt; margin: 0pt 0 0pt 0.5in"><div style="display: inline; font-weight: bold;"></div></div> <div style="display: inline; font-style: italic; font: inherit;"><div style=" font-size: 10pt; margin: 0pt 0 0pt 0.5in"><div style="display: inline; font-weight: bold;">Goodwill and intangible assets</div></div> <div style=" font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in">Goodwill represents the excess of purchase price over the fair value of assets acquired and liabilities assumed in a business combination and is <div style="display: inline; font-style: italic; font: inherit;">not</div> subject to amortization.</div> <div style=" font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in"> </div> <div style=" font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in">Intangible assets are recorded at fair value on the date they are acquired. They are amortized over their estimated useful lives as follows:</div> <div style=" font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in"> </div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;"> <tr style="vertical-align: bottom"> <td style="width: 50%; font-size: 10pt; text-align: left; padding-left: 0.5in">Customer relationships</td> <td style="width: 1%; font-size: 10pt"> </td> <td style="width: 49%; font-size: 10pt; text-align: left">straight-line over <div style="display: inline; font-style: italic; font: inherit;">4</div> to <div style="display: inline; font-style: italic; font: inherit;">20</div> years</td> </tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt; text-align: left; padding-left: 0.5in">Franchise rights</td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left">by pattern of use, currently estimated at <div style="display: inline; font-style: italic; font: inherit;">2.5%</div> to <div style="display: inline; font-style: italic; font: inherit;">15%</div> per year</td> </tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt; text-align: left; padding-left: 0.5in">Trademarks and trade names</td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left">straight-line over <div style="display: inline; font-style: italic; font: inherit;">1</div> to <div style="display: inline; font-style: italic; font: inherit;">35</div> years</td> </tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt; text-align: left; padding-left: 0.5in">Management contracts and other</td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left">straight-line over life of contract ranging from <div style="display: inline; font-style: italic; font: inherit;">2</div> to <div style="display: inline; font-style: italic; font: inherit;">15</div> years</td> </tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt; padding-left: 0.5in">Backlog</td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left">straight-line over <div style="display: inline; font-style: italic; font: inherit;">6</div> to <div style="display: inline; font-style: italic; font: inherit;">12</div> months</td> </tr> </table> <div style=" font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in"> </div> <div style=" font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in">The Company reviews the carrying value of finite life intangible assets for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset group <div style="display: inline; font-style: italic; font: inherit;"> may </div><div style="display: inline; font-style: italic; font: inherit;">not</div> be recoverable from the estimated future cash flows expected to result from their use and eventual disposition. If the sum of the undiscounted expected future cash flows is less than the carrying amount of the asset group, an impairment loss is recognized. Measurement of the impairment loss is based on the excess of the carrying amount of the asset group over the fair value calculated using an income approach.</div> <div style=" font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in"> </div> <div style=" font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in">Goodwill is tested for impairment annually, on <div style="display: inline; font-style: italic; font: inherit;"> August </div><div style="display: inline; font-style: italic; font: inherit;">1,</div> or more frequently if events or changes in circumstances indicate the asset might be impaired, in which case the carrying amount of the asset is written down to fair value.</div> <div style=" font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in"> </div> <div style=" font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in">Impairment of goodwill is tested at the reporting unit level. The Company has <div style="display: inline; font-style: italic; font: inherit;">seven</div> reporting units determined with reference to business segment, customer type, service delivery model and geography. Impairment is tested by <div style="display: inline; font-style: italic; font: inherit;">first</div> assessing qualitative factors to determine whether it is more likely than <div style="display: inline; font-style: italic; font: inherit;">not</div> that the fair value of a reporting unit is less than its carrying amount. Where it is determined to be more likely than <div style="display: inline; font-style: italic; font: inherit;">not</div> that its fair value is greater than its carrying amount, then <div style="display: inline; font-style: italic; font: inherit;">no</div> further testing is required. Where the qualitative analysis is <div style="display: inline; font-style: italic; font: inherit;">not</div> sufficient to support that the fair value exceeds the carrying amount then a goodwill impairment test is performed. A quantitative goodwill impairment test is performed by comparing the fair value of each reporting unit to its carrying value, including goodwill. Fair value is estimated using a market multiple method, which estimates market multiples of earnings before interest, taxes, depreciation and amortization (“EBITDA”) for comparable entities with similar operations and economic characteristics. Significant assumptions used in estimating the fair value of each reporting unit include the market multiples of EBITDA.</div> <div style=" font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in"> </div></div> <div style=" font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in"></div> <div style=" font-size: 10pt; margin: 0pt 0 0pt 0.5in"><div style="display: inline; font-weight: bold;"></div></div> <div style="display: inline; font-style: italic; font: inherit;"><div style=" font-size: 10pt; margin: 0pt 0 0pt 0.5in"><div style="display: inline; font-weight: bold;">Redeemable non-controlling interests</div></div> <div style=" font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in">Redeemable non-controlling interests (“RNCI”) are recorded at the greater of (i) the redemption amount or (ii) the amount initially recorded as RNCI at the date of inception of the minority equity position. This amount is recorded in the “mezzanine” section of the balance sheet, outside of shareholders' equity. Changes in the RNCI amount are recognized immediately as they occur.</div> <div style=" font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in"> </div></div> <div style=" font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in"></div> <!-- Field: /Page --> <div style=" margin: 0pt 0 0pt 0.5in; font-size: 10pt"><div style="display: inline; font-weight: bold;"></div></div> <div style="display: inline; font-style: italic; font: inherit;"><div style=" margin: 0pt 0 0pt 0.5in; font-size: 10pt"><div style="display: inline; font-weight: bold;">Revenue recognition and unearned revenues</div></div> <div style=" font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in">The Company accounts for a contract with a customer when there is approval and commitment from both parties, the rights of the parties are identified, payment terms are identified, the contract has commercial substance and collectability of consideration is probable. The Company's revenues are measured based on consideration specified in the contract of each customer and revenue is recognized as the performance obligations are satisfied by transferring the control of the service or product to a customer.</div> <div style=" font-size: 10pt; text-align: justify; margin: 0pt 0"> </div> <div style=" font-size: 10pt; text-align: justify; margin: 0pt 0; text-indent: 0.5in"><div style="display: inline; font-style: italic;">(a) Revenues from property and amenity management services</div></div> <div style=" font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in">Property and amenity management services represent a series of distinct daily services, that in nature are substantially the same, rendered over time. The Company is compensated for these services through monthly management fees and fees associated with ancillary services. Revenue is recognized for the fees associated with the services performed.</div> <div style=" font-size: 10pt; text-align: justify; margin: 0pt 0"> </div> <div style=" font-size: 10pt; margin: 0pt 0 0pt 0.5in"><div style="display: inline; font-style: italic;">(b) Revenues from construction contracts and service operations other than franchisor operations </div></div> <div style=" font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in">Revenues are recognized at the time the service is rendered. Certain services including but <div style="display: inline; font-style: italic; font: inherit;">not</div> limited to restoration and construction contracts, are recognized over time based on percentage of completion, based on a ratio of actual costs to total estimated contract costs. In cases where anticipated costs to complete a project exceed the revenue to be recognized, a provision for the additional estimated losses is recorded in the period when the loss becomes apparent. Amounts received from customers in advance of services being provided are recorded as unearned revenues when received.</div> <div style=" font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in"> </div> <div style=" font-size: 10pt; margin: 0pt 0 0pt 0.5in"><div style="display: inline; font-style: italic;">(c) Franchisor operations</div></div> <div style=" font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in">The Company operates several franchise systems within its FirstService Brands segment. Initial franchise fees are deferred and recognized over the term of the franchise agreement. Royalty revenues are recognized based on a contracted percentage of franchisee revenues, as reported by the franchisees. Revenues from administrative and other support services, as applicable, are recognized as the services are provided.</div> <div style=" font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in"> </div> <div style=" font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in">The Company's franchise systems operate marketing funds on behalf of franchisees. Advertising fund contributions from franchisees are reported as revenues and advertising fund expenditures are reported as expenses in our statements of earnings. To the extent that contributions received exceed advertising expenditures, the excess amount is accrued and offset as a deferred liability, whereas any expenditures in excess of contributions are expensed as incurred. As such, advertising fund contributions and the related revenues and expenses <div style="display: inline; font-style: italic; font: inherit;"> may </div>be reported in different periods.</div> <div style=" font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in"> </div></div> <div style=" font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in"></div> <div style=" font-size: 10pt; margin: 0pt 0 0pt 0.5in"><div style="display: inline; font-weight: bold;"></div></div> <div style="display: inline; font-style: italic; font: inherit;"><div style=" font-size: 10pt; margin: 0pt 0 0pt 0.5in"><div style="display: inline; font-weight: bold;">Stock-based compensation</div></div> <div style=" font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in">For equity classified awards, compensation cost is measured at the grant date based on the estimated fair value of the award. The related stock option compensation expense is allocated using the graded attribution method.</div> <div style=" font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in"> </div></div> <div style=" font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in"></div> <div style=" font-size: 10pt; margin: 0pt 0 0pt 0.5in"><div style="display: inline; font-weight: bold;"></div></div> <div style="display: inline; font-style: italic; font: inherit;"><div style=" font-size: 10pt; margin: 0pt 0 0pt 0.5in"><div style="display: inline; font-weight: bold;">Notional value appreciation plans</div></div> <div style=" font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in">Under these plans, subsidiary employees are compensated if the notional value of the subsidiary increases. Awards under these plans generally have a term of up to <div style="display: inline; font-style: italic; font: inherit;">fifteen</div> years and a vesting period of <div style="display: inline; font-style: italic; font: inherit;">five</div> years. The increase in notional value is calculated with reference to growth in earnings relative to a fixed threshold amount plus or minus changes in indebtedness relative to a fixed opening amount. If an award is subject to a vesting condition, then graded attribution is applied to the intrinsic value. The related compensation expense is recorded in selling, general and administrative expenses and the liability is recorded in accrued liabilities.</div> <div style=" font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in"> </div></div> <div style=" font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in"></div> <div style=" font-size: 10pt; margin: 0pt 0 0pt 0.5in"><div style="display: inline; font-weight: bold;"></div></div> <div style="display: inline; font-style: italic; font: inherit;"><div style=" font-size: 10pt; margin: 0pt 0 0pt 0.5in"><div style="display: inline; font-weight: bold;">Foreign currency translation</div></div> <div style=" font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in">Assets, liabilities and operations of foreign subsidiaries are recorded based on the functional currency of each entity. For certain foreign operations, the functional currency is the local currency, in which case the assets, liabilities and operations are translated at current exchange rates from the local currency to the reporting currency, the US dollar. The resulting unrealized gains or losses are reported as a component of accumulated other comprehensive earnings. Realized and unrealized foreign currency gains or losses related to any foreign dollar denominated monetary assets and liabilities are included in net earnings.</div> <div style=" font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in"> </div></div> <div style=" font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in"></div> <!-- Field: /Page --> <div style=" margin: 0pt 0 0pt 0.5in; font-size: 10pt"><div style="display: inline; font-weight: bold;"></div></div> <div style="display: inline; font-style: italic; font: inherit;"><div style=" margin: 0pt 0 0pt 0.5in; font-size: 10pt"><div style="display: inline; font-weight: bold;">Income tax</div></div> <div style=" font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in">Income tax has been provided using the asset and liability method whereby deferred income tax assets and liabilities are recognized for the expected future income tax consequences of events that have been recognized in the consolidated financial statements or income tax returns. Deferred income tax assets and liabilities are measured using enacted income tax rates expected to apply to taxable income in the years in which temporary differences are expected to reverse, be recovered or settled. The effect on deferred income tax assets and liabilities of a change in income tax rates is recognized in earnings in the period in which the change occurs. A valuation allowance is recorded unless it is more likely than <div style="display: inline; font-style: italic; font: inherit;">not</div> that realization of a deferred income tax asset will occur based on available evidence.</div> <div style=" font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in"> </div> <div style=" font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in">The Company recognizes uncertainty in tax positions taken or expected to be taken in a tax return by recording a liability for unrecognized tax benefits on its balance sheet. Uncertainties are quantified by applying a prescribed recognition threshold and measurement attribute.</div> <div style=" font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in"> </div> <div style=" font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in">The Company classifies interest and penalties associated with income tax positions in income tax expense.</div> <div style=" font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in"> </div></div> <div style=" font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in"></div> <div style=" font-size: 10pt; margin: 0pt 0 0pt 0.5in"><div style="display: inline; font-weight: bold;"></div></div> <div style="display: inline; font-style: italic; font: inherit;"><div style=" font-size: 10pt; margin: 0pt 0 0pt 0.5in"><div style="display: inline; font-weight: bold;">Business combinations</div></div> <div style=" font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in">All business combinations are accounted for using the purchase method of accounting. Transaction costs are expensed as incurred.</div> <div style=" font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in"> </div> <div style=" font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in">The determination of fair values of assets and liabilities assumed in business combinations requires the use of estimates and judgement by management, particularly in determining fair values of intangible assets acquired.</div> <div style=" font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in"> </div> <div style=" font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in">The fair value of the contingent consideration is classified as a financial liability and is recorded on the balance sheet at the acquisition date and is re-measured at fair value at the end of each period until the end of the contingency period, with fair value adjustments recognized in earnings.</div></div></div>
1797359
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1797359
2918860
2918860
294238
294238
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294238
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251503000
251503000
33734000
13481000
-2424000
11057000
14596000
-3086000
11510000
660398000
425887000
148707000
45097000
45537000
-3115000
236226000
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-390000
605428000
50789000
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770032000
59303000
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2148000
<div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;"> <tr style="vertical-align: top"> <td style="width: 0"></td> <td style="width: 0.5in"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-style: italic; font: inherit;">14.</div></div></td> <td><div style="display: inline; font-weight: bold;">Capital stock</div></td> </tr> </table> <div style=" font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in"> </div> <div style=" font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in">The authorized capital stock of the Company is as follows:</div> <div style=" font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in"> </div> <div style=" margin: 0pt 0 0pt 0.5in; font-size: 10pt; text-align: justify">An unlimited number of Common Shares having <div style="display: inline; font-style: italic; font: inherit;">one</div> vote per share. </div> <div style=" font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in"> </div> <div style=" font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in">The following table provides a summary of total capital stock issued and outstanding:</div> <div style=" font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in"> </div> <div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; margin-left: 46px; min-width: 700px;"> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; font-size: 10pt"> </td> <td style="font-size: 10pt; font-style: italic"> </td> <td colspan="7" style="white-space: nowrap; font-size: 10pt; font-style: italic; text-align: center">Common Shares</td> </tr> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; font-size: 10pt"> </td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; text-align: right; border-bottom: Black 1pt solid">Number</td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; text-align: right; border-bottom: Black 1pt solid">Amount</td> </tr> <tr style="vertical-align: bottom"> <td style="width: 70%; font-size: 10pt"> </td> <td style="width: 1%; font-size: 10pt"> </td> <td style="width: 1%; font-size: 10pt; text-align: left"> </td> <td style="width: 12%; font-size: 10pt; text-align: right"> </td> <td style="white-space: nowrap; width: 1%; font-size: 10pt; text-align: left"> </td> <td style="width: 1%; font-size: 10pt"> </td> <td style="width: 1%; font-size: 10pt; text-align: left"> </td> <td style="width: 12%; font-size: 10pt; text-align: right"> </td> <td style="white-space: nowrap; width: 1%; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt">Balance, December 31, 2020</td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">43,587,554</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left">$</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">770,032</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> </tr> </table> </div> <div style=" font-size: 10pt; margin: 0pt 0"> </div> <div style=" font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in">On <div style="display: inline; font-style: italic; font: inherit;"> May 22, 2020, </div>the Company completed the sale, on a private placement basis, of a total of <div style="display: inline; font-style: italic; font: inherit;">1,797,359</div> common shares of FirstService, at a price of <div style="display: inline; font-style: italic; font: inherit;">US$83.46</div> per share, to Durable Capital Partners LP, for proceeds of <div style="display: inline; font-style: italic; font: inherit;">$150,008.</div> The net proceeds of the private placement were used to repay existing indebtedness under the Facility.</div></div>
<div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; margin-left: 46px; min-; min-width: 700px;"> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; font-size: 10pt; text-align: right"> </td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td colspan="7" style="white-space: nowrap; font-size: 10pt; text-align: center; border-bottom: Black 1pt solid">Loss carry forward</td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td colspan="7" style="white-space: nowrap; font-size: 10pt; text-align: center; border-bottom: Black 1pt solid">Gross losses not recognized</td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td colspan="7" style="white-space: nowrap; font-size: 10pt; text-align: center; border-bottom: Black 1pt solid">Net</td> </tr> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; font-size: 10pt"> </td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="3" style="border-bottom: Black 1pt solid; white-space: nowrap; font-size: 10pt; font-weight: bold; text-align: right">2020</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; padding-bottom: 1pt"> </td> <td colspan="3" style="border-bottom: Black 1pt solid; white-space: nowrap; font-size: 10pt; text-align: right">2019</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="3" style="border-bottom: Black 1pt solid; white-space: nowrap; font-size: 10pt; font-weight: bold; text-align: right">2020</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; padding-bottom: 1pt"> </td> <td colspan="3" style="border-bottom: Black 1pt solid; white-space: nowrap; font-size: 10pt; text-align: right">2019</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="3" style="border-bottom: Black 1pt solid; white-space: nowrap; font-size: 10pt; font-weight: bold; text-align: right">2020</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; padding-bottom: 1pt"> </td> <td colspan="3" style="border-bottom: Black 1pt solid; white-space: nowrap; font-size: 10pt; text-align: right">2019</td> </tr> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; font-size: 10pt"> </td> <td style="font-size: 10pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt"> </td> <td style="font-size: 10pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt"> </td> <td style="font-size: 10pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt"> </td> <td style="font-size: 10pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt"> </td> <td style="font-size: 10pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt"> </td> <td style="font-size: 10pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 34%; font-size: 10pt">Canada</td> <td style="width: 1%; font-size: 10pt; font-weight: bold"> </td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">$</td> <td style="width: 8%; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,364</div></td> <td style="white-space: nowrap; width: 1%; font-size: 10pt; font-weight: bold; text-align: left"> </td> <td style="width: 1%; font-size: 10pt"> </td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td> <td style="width: 8%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">4,430</div></td> <td style="white-space: nowrap; width: 1%; font-size: 10pt; text-align: left"> </td> <td style="width: 1%; font-size: 10pt; font-weight: bold"> </td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">$</td> <td style="width: 8%; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="white-space: nowrap; width: 1%; font-size: 10pt; font-weight: bold; text-align: left"> </td> <td style="width: 1%; font-size: 10pt"> </td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td> <td style="width: 8%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">-</div></td> <td style="white-space: nowrap; width: 1%; font-size: 10pt; text-align: left"> </td> <td style="width: 1%; font-size: 10pt; font-weight: bold"> </td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">$</td> <td style="width: 8%; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">1,364</div></td> <td style="white-space: nowrap; width: 1%; font-size: 10pt; font-weight: bold; text-align: left"> </td> <td style="width: 1%; font-size: 10pt"> </td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td> <td style="width: 8%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">4,430</div></td> <td style="white-space: nowrap; width: 1%; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">United States</td> <td style="font-size: 10pt; font-weight: bold"> </td> <td style="font-size: 10pt; font-weight: bold; text-align: left"> </td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">13,733</div></td> <td style="white-space: nowrap; font-size: 10pt; font-weight: bold; text-align: left"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">18,615</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; font-weight: bold"> </td> <td style="font-size: 10pt; font-weight: bold; text-align: left"> </td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">11,417</div></td> <td style="white-space: nowrap; font-size: 10pt; font-weight: bold; text-align: left"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">15,840</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; font-weight: bold"> </td> <td style="font-size: 10pt; font-weight: bold; text-align: left"> </td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">2,316</div></td> <td style="white-space: nowrap; font-size: 10pt; font-weight: bold; text-align: left"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font: inherit;">2,775</div></td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> </tr> </table></div>
<div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;"> <tr style="vertical-align: top; text-align: justify"> <td style="width: 0.5in"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-style: italic; font: inherit;">8.</div></div></div></td> <td style="text-align: justify"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-weight: bold;">Components of working capital accounts</div></div></td> </tr> </table> <div style=" margin: 0"> </div> <div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; margin-left: 46px; min-width: 700px;"> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; font-size: 10pt"> </td> <td style="font-size: 10pt; font-weight: bold"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; font-weight: bold; text-align: right">December 31,</td> <td style="font-size: 10pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; text-align: right">December 31,</td> </tr> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; font-size: 10pt"> </td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2020</td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; text-align: right; border-bottom: Black 1pt solid">2019</td> </tr> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; font-size: 10pt"> </td> <td style="font-size: 10pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; text-align: right"> </td> <td style="font-size: 10pt"> </td> <td colspan="3" style="white-space: nowrap; font-size: 10pt; text-align: right"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt">Inventories</td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"> </td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td> <td style="font-size: 10pt; text-align: right"> </td> <td style="white-space: nowrap; font-size: 10pt; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="width: 70%; font-size: 10pt; padding-left: 10pt">Work-in-progress</td> <td style="width: 1%; font-size: 10pt; font-weight: bold"> </td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">$</td> <td style="width: 12%; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; 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