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OPERATING SEGMENTS AND GEOGRAPHIC INFORMATION | 12 Months Ended
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Mar. 31, 2019
Disclosure of operating segments [abstract] |
OPERATING SEGMENTS AND GEOGRAPHIC INFORMATION | OPERATING SEGMENTS AND GEOGRAPHIC INFORMATION The Company elected to organize its operating segments principally on the basis of its customer markets. The Company manages its operations through its three segments. Operating segments are reported in a manner consistent with the internal reporting provided to the chief operating decision-maker. The Company has decided to disaggregate revenue from contracts with customers by segment, by products and services and by geographic location as the Company believes it best depicts how the nature, amount, timing and uncertainty of its revenue and cash flows are affected by economic factors. Results by segment The profitability measure employed by the Company for making decisions about allocating resources to segments and assessing segment performance is operating profit (hereinafter referred to as segment operating income). The accounting principles used to prepare the information by operating segments are the same as those used to prepare the Company’s consolidated financial statements. The method used for the allocation of assets jointly used by operating segments and costs and liabilities jointly incurred (mostly corporate costs) between operating segments is based on the level of utilization when determinable and measurable, otherwise the allocation is based on a proportion of each segment’s cost of sales and revenue.
|  | Civil Aviation |  |  | Defence |  |  |  |  |  |  |  |  |
|  | Training Solutions |  |  | and Security |  |  | Healthcare |  |  |  |  | Total |
|  | 2019 |  |  | 2018 |  |  | 2019 |  |  | 2018 |  |  | 2019 |  |  | 2018 |  |  | 2019 |  |  | 2018 |
|  |  | Restated |  |  | Restated |  |  |  | Restated |  |  |  | Restated |
External revenue |  | $ | 1,875.8 |  |  | $ | 1,625.3 |  |  | $ | 1,306.7 |  |  | $ | 1,083.0 |  |  | $ | 121.6 |  |  | $ | 115.2 |  |  | $ | 3,304.1 |  |  | $ | 2,823.5 |
Depreciation and amortization |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Property, plant and equipment |  | 115.9 |  |  | 99.1 |  |  | 19.0 |  |  | 19.1 |  |  | 2.7 |  |  | 2.6 |  |  | 137.6 |  |  | 120.8 |
Intangible and other assets |  | 41.3 |  |  | 37.5 |  |  | 27.5 |  |  | 30.8 |  |  | 10.8 |  |  | 10.5 |  |  | 79.6 |  |  | 78.8 |
Impairment of non-financial |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
assets – net (Note 21) |  | (4.9 | ) |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (4.9 | ) |  | — |
Write-downs of inventories – net |  | 0.7 |  |  | 2.6 |  |  | 0.9 |  |  | 0.8 |  |  | 0.1 |  |  | — |  |  | 1.7 |  |  | 3.4 |
Write-downs (reversals of write-downs) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
of accounts receivable – net |  | 4.4 |  |  | 9.2 |  |  | 0.2 |  |  | — |  |  | — |  |  | (0.1 | ) |  | 4.6 |  |  | 9.1 |
After tax share in profit of |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
equity accounted investees |  | 23.0 |  |  | 32.2 |  |  | 10.4 |  |  | 11.0 |  |  | — |  |  | — |  |  | 33.4 |  |  | 43.2 |
Segment operating income |  | 344.3 |  |  | 330.1 |  |  | 131.5 |  |  | 123.9 |  |  | 4.8 |  |  | 8.8 |  |  | 480.6 |  |  | 462.8 |
Capital expenditures which consist of additions to non-current assets (other than financial instruments and deferred tax assets), by segment are as follows:
|  | 2019 |  |  | 2018 |
Civil Aviation Training Solutions | $ | 260.1 |  | $ | 162.0 |
Defence and Security |  | 65.7 |  |  | 49.2 |
Healthcare |  | 12.6 |  |  | 10.0 |
Total capital expenditures | $ | 338.4 |  | $ | 221.2 |
Addition of assets through the monetization of royalties In November 2018, the Company agreed to monetize its future royalty obligations under an Authorized Training Provider agreement with Bombardier and extend this agreement to 2038. In December, the Company concluded the monetization transaction which resulted in a cash outlay of $202.7 million. The monetization represents the discounted sum of expected royalties payable by CAE over the next 20 years. As a result of this transaction, $156.7 million (Note 7 ) of intangible assets and $46.0 million (Note 6) of property, plant and equipment were recognized in the Civil Aviation Training Solutions segment. Assets and liabilities employed by segment The Company uses assets employed and liabilities employed to assess resources allocated to each segment. Assets employed include accounts receivable, contract assets, inventories, prepayments, property, plant and equipment, intangible assets, investment in equity accounted investees, derivative financial assets and other assets. Liabilities employed include accounts payable and accrued liabilities, provisions, contract liabilities, deferred gains and other liabilities and derivative financial liabilities. Assets and liabilities employed by segment are reconciled to total assets and liabilities as follows:
|  | 2019 |  |  | 2018 |
|  |  |  | Restated |
Assets employed |  |  |  |  |
Civil Aviation Training Solutions | $ | 4,373.0 |  | $ | 3,072.8 |
Defence and Security |  | 1,627.2 |  |  | 1,414.0 |
Healthcare |  | 271.6 |  |  | 253.5 |
Assets not included in assets employed |  | 893.7 |  |  | 1,039.9 |
Total assets | $ | 7,165.5 |  | $ | 5,780.2 |
Liabilities employed |  |  |  |  |  |
Civil Aviation Training Solutions | $ | 1,098.3 |  | $ | 1,031.0 |
Defence and Security |  | 595.2 |  |  | 469.8 |
Healthcare |  | 48.8 |  |  | 42.0 |
Liabilities not included in liabilities employed |  | 3,013.2 |  |  | 1,939.9 |
Total liabilities | $ | 4,755.5 |  | $ | 3,482.7 |
Products and services information The Company's revenue from external customers for its products and services are as follows:
|  | 2019 |  |  | 2018 |
|  |  |  | Restated |
Revenue |  |  |  |  |  |
Simulation products | $ | 1,473.8 |  | $ | 1,278.2 |
Training and services |  | 1,830.3 |  |  | 1,545.3 |
| $ | 3,304.1 |  | $ | 2,823.5 |
Geographic information The Company markets its products and services globally. Revenues are attributed to countries based on the location of customers. Non-current assets other than financial instruments and deferred tax assets are attributed to countries based on the location of the assets.
|  | 2019 |  |  | 2018 |
|  |  |  | Restated |
Revenues from external customers |  |  |  |  |  |
Canada | $ | 253.3 |  | $ | 265.5 |
United States |  | 1,283.3 |  |  | 1,068.2 |
United Kingdom |  | 210.4 |  |  | 231.4 |
Germany |  | 118.9 |  |  | 95.7 |
Netherlands |  | 79.7 |  |  | 95.7 |
Spain |  | 114.5 |  |  | 76.0 |
Other European countries |  | 367.7 |  |  | 250.9 |
United Arab Emirates |  | 109.0 |  |  | 110.0 |
China |  | 226.5 |  |  | 207.6 |
Other Asian countries |  | 361.1 |  |  | 268.2 |
Australia |  | 50.1 |  |  | 55.8 |
Other countries |  | 129.6 |  |  | 98.5 |
| $ | 3,304.1 |  | $ | 2,823.5 |
|  | 2019 |  |  | 2018 |
|  |  |  | Restated |
Non-current assets other than financial instruments and deferred tax assets |  |  |  |  |  |
Canada | $ | 1,557.0 |  | $ | 903.2 |
United States |  | 1,580.7 |  |  | 945.7 |
Brazil |  | 116.4 |  |  | 118.1 |
United Kingdom |  | 285.2 |  |  | 250.3 |
Luxembourg |  | 187.0 |  |  | 194.1 |
Netherlands |  | 196.9 |  |  | 223.6 |
Other European countries |  | 336.5 |  |  | 324.8 |
Malaysia |  | 177.6 |  |  | 197.1 |
Other Asian countries |  | 177.8 |  |  | 149.2 |
Other countries |  | 176.4 |  |  | 82.1 |
| $ | 4,791.5 |  | $ | 3,388.2 |

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