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Property, Plant and Equipment | 12 Months Ended
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Mar. 31, 2016
Property, Plant and Equipment [Abstract] |
Property, Plant and Equipment | 7. Property, Plant and Equipment Property, plant and equipment consist of the following components:
|  |  |  |  |  |  |  | Machinery |  |  | Construction |  |  |  |
(Millions of US dollars) |  |  |  |  |  |  |  | and |  |  | in |  |  |  |
Cost or valuation: |  | Land |  |  | Buildings |  |  | Equipment |  |  | Progress 1 |  |  | Total |
At 31 March 2014 |  | $ | 28.7 |  |  | $ | 212.5 |  |  | $ | 961.1 |  |  | $ | 115.4 |  |  | $ | 1,317.7 |
Additions 2 |  |  | 41.5 |  |  |  | 30.2 |  |  |  | 72.7 |  |  |  | 133.5 |  |  |  | 277.9 |
Disposals 3 |  |  | - |  |  |  | (1.7) |  |  |  | (6.6) |  |  |  | - |  |  |  | (8.3) |
Exchange differences |  |  | - |  |  |  | (1.2) |  |  |  | (52.6) |  |  |  | - |  |  |  | (53.8) |
At 31 March 2015 |  | $ | 70.2 |  |  | $ | 239.8 |  |  | $ | 974.6 |  |  | $ | 248.9 |  |  | $ | 1,533.5 |
Additions 2 |  |  | - |  |  |  | 27.0 |  |  |  | 155.5 |  |  |  | (103.9) |  |  |  | 78.6 |
Disposals 4 |  |  | - |  |  |  | (0.7) |  |  |  | (65.8) |  |  |  | (1.5) |  |  |  | (68.0) |
Exchange differences |  |  | (0.1) |  |  |  | (0.1) |  |  |  | (1.9) |  |  |  | - |  |  |  | (2.1) |
At 31 March 2016 |  | $ | 70.1 |  |  | $ | 266.0 |  |  | $ | 1,062.4 |  |  | $ | 143.5 |  |  | $ | 1,542.0 |
Accumulated depreciation: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
At 31 March 2014 |  | $ | - |  |  | $ | (80.9) |  |  | $ | (534.0) |  |  | $ | - |  |  | $ | (614.9) |
Charge for the year |  |  | - |  |  |  | (9.3) |  |  |  | (60.9) |  |  |  | - |  |  |  | (70.2) |
Disposals 3 |  |  | - |  |  |  | 0.8 |  |  |  | 6.3 |  |  |  | - |  |  |  | 7.1 |
Exchange differences |  |  | - |  |  |  | 1.2 |  |  |  | 23.4 |  |  |  | - |  |  |  | 24.6 |
At 31 March 2015 |  | $ | - |  |  | $ | (88.2) |  |  | $ | (565.2) |  |  | $ | - |  |  | $ | (653.4) |
Charge for the year |  |  |  |  |  |  | (10.7) |  |  |  | (65.6) |  |  |  | - |  |  |  | (76.3) |
Disposals 4 |  |  | - |  |  |  | 0.5 |  |  |  | 51.1 |  |  |  | - |  |  |  | 51.6 |
Exchange differences |  |  | - |  |  |  | 0.2 |  |  |  | 2.9 |  |  |  | - |  |  |  | 3.1 |
At 31 March 2016 |  | $ | - |  |  | $ | (98.2) |  |  | $ | (576.8) |  |  | $ | - |  |  | $ | (675.0) |
Net book amount: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
At 31 March 2015 |  | $ | 70.2 |  |  | $ | 151.6 |  |  | $ | 409.4 |  |  | $ | 248.9 |  |  | $ | 880.1 |
At 31 March 2016 |  | $ | 70.1 |  |  | $ | 167.8 |  |  | $ | 485.6 |  |  | $ | 143.5 |  |  | $ | 867.0 |
1 | Construction in progress is presented net of assets transferred into service.
2 | Additions include US$3.2 million and US$1.7 million of capitalized interest for the years ended 31 March 2016 and 2015, respectively.
3 | This includes the accounting impact associated with the purchase of the Company’s previously leased facility at Rosehill.
4 | The US$16.4 million net book value of disposals include US$10.9 million of usage of replacement parts and US$3.5 million of impairment charges on individual assets. The remaining net book value of disposals of US$2.0 million is related to the disposal of assets no longer in use, and do not represent a sale of assets.
Depreciation expense for the years ended 31 March 2016, 2015 and 2014 was US$76.3 million, US$70.2 million and US$61.3 million, respectively. Included in property, plant and equipment are restricted assets of AICF with a net book value of US$1.2 million and US$1.3 million as of 31 March 2016 and 2015, respectively. Impairment of Long-Lived Assets The Company performs an asset impairment review on a quarterly basis in connection with its assessment of production capabilities and the Company’s ability to meet market demand. During the years ended 31 March 2016, 2015 and 2014, the Company recorded US$3.5 million, US$3.7 million and nil of impairment charges related to individual assets which is included in Cost of goods sold on the consolidated statements of operations and comprehensive income.

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- Definition The entire disclosure for long-lived, physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, accounting policies and methodology, roll forwards, depreciation, depletion and amortization expense, including composite depreciation, accumulated depreciation, depletion and amortization expense, useful lives and method used, income statement disclosures, assets held for sale and public utility disclosures. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.13-14) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=51717284&loc=d3e1361-107760 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=51719941&loc=d3e2921-110230 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6391035&loc=d3e2868-110229 + Details
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