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Property, Plant and Equipment | 12 Months Ended
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Mar. 31, 2017
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 2015 |  | $ | 70.2 |  |  | $ | 239.8 |  |  | $ | 974.6 |  |  | $ | 248.9 |  |  | $ | 1,533.5 |
Additions 2 |  |  | - |  |  |  | 27.0 |  |  |  | 155.5 |  |  |  | (103.9) |  |  |  | 78.6 |
Disposals 3 |  |  | - |  |  |  | (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 |
Additions 2 |  |  | 1.3 |  |  |  | 2.3 |  |  |  | 27.8 |  |  |  | 81.8 |  |  |  | 113.2 |
Transfers |  |  | 1.9 |  |  |  | 23.1 |  |  |  | 112.3 |  |  |  | (137.3) |  |  |  | - |
Disposals 3 |  |  | - |  |  |  | (1.4) |  |  |  | (55.5) |  |  |  | (0.5) |  |  |  | (57.4) |
Other 4 |  |  | - |  |  |  | (12.5) |  |  |  | - |  |  |  | 6.4 |  |  |  | (6.1) |
Exchange differences |  |  | (0.4) |  |  |  | (0.8) |  |  |  | (2.4) |  |  |  | (0.1) |  |  |  | (3.7) |
Adjustment 5 |  |  | (3.4) |  |  |  | 67.8 |  |  |  | 31.1 |  |  |  | (37.2) |  |  |  | 58.3 |
At 31 March 2017 |  | $ | 69.5 |  |  | $ | 344.5 |  |  | $ | 1,175.7 |  |  | $ | 56.6 |  |  | $ | 1,646.3 |
Accumulated depreciation: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
At 31 March 2015 |  | $ | - |  |  | $ | (88.2) |  |  | $ | (565.2) |  |  | $ | - |  |  | $ | (653.4) |
Charge for the year |  |  | - |  |  |  | (10.7) |  |  |  | (65.6) |  |  |  | - |  |  |  | (76.3) |
Disposals 3 |  |  | - |  |  |  | 0.5 |  |  |  | 51.1 |  |  |  | - |  |  |  | 51.6 |
Exchange differences |  |  | - |  |  |  | 0.2 |  |  |  | 2.9 |  |  |  | - |  |  |  | 3.1 |
At 31 March 2016 |  | $ | - |  |  | $ | (98.2) |  |  | $ | (576.8) |  |  | $ | - |  |  | $ | (675.0) |
Charge for the year |  |  | - |  |  |  | (10.2) |  |  |  | (70.1) |  |  |  | - |  |  |  | (80.3) |
Disposals 3 |  |  | - |  |  |  | 1.3 |  |  |  | 41.1 |  |  |  | - |  |  |  | 42.4 |
Other 4 |  |  | - |  |  |  | 1.6 |  |  |  | - |  |  |  | - |  |  |  | 1.6 |
Exchange differences |  |  | - |  |  |  | 0.3 |  |  |  | 2.0 |  |  |  | - |  |  |  | 2.3 |
Adjustment 5 |  |  | - |  |  |  | (22.8) |  |  |  | (35.5) |  |  |  | - |  |  |  | (58.3) |
At 31 March 2017 |  | $ | - |  |  | $ | (128.0) |  |  | $ | (639.3) |  |  | $ | - |  |  | $ | (767.3) |
Net book amount: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
At 31 March 2016 |  | $ | 70.1 |  |  | $ | 167.8 |  |  | $ | 485.6 |  |  | $ | 143.5 |  |  | $ | 867.0 |
At 31 March 2017 |  | $ | 69.5 |  |  | $ | 216.5 |  |  | $ | 536.4 |  |  | $ | 56.6 |  |  | $ | 879.0 |
1 | Construction in progress is presented net of assets transferred into service.
2 | Additions include US$2.0 million and US$3.2 million of capitalized interest for the years ended 31 March 2017 and 2016, respectively.
3 | The US$15.0 million net book value of disposals in fiscal year 2017 includes US$13.1 million of usage of replacement parts and US$0.5 million of impairment charges on individual assets. The remaining net book value of disposals of US$1.4 million is related to the disposal of assets no longer in use, and do not represent a sale of assets.
4 | Other includes the transfer of the Fontana building to Prepaid and other current assets on the consolidated balance sheet. The Fontana building met the held for sale criteria as of 31 March 2017 and has a net book value of US$4.5 million.
5 | The adjustments correct immaterial errors identified by management during the current year in classification in prior periods whereby certain amounts were misclassified by asset category and certain fully depreciated items were excluded from the balances. The correction had no impact on the consolidated balance sheets, statements of operations and comprehensive income, and cash flows for any of the periods presented.
Depreciation expense for the years ended 31 March 2017, 2016 and 2015 was US$80.3 million, US$76.3 million and US$70.2 million, 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 2017, 2016 and 2015, the Company recorded US$0.5 million, US$3.5 million and US$3.7 million 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=64827811&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=64862545&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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