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FINANCIAL RISK MANAGEMENT (Tables)
 12 Months Ended
Mar. 31, 2020
Disclosure of notes and other explanatory information [Abstract]  
Disclosure of how entity manages liquidity risk
The following tables present a maturity analysis based on contractual maturity date, of the Company’s financial liabilities based on expected cash flows. Cash flows from derivatives presented either as derivative assets or liabilities have been included, as the Company manages its derivative contracts on a gross basis. The amounts are the contractual undiscounted cash flows. All amounts contractually denominated in foreign currency are presented in Canadian dollar equivalent amounts using the period-end spot rate except as otherwise stated:
 
 
 
 
 
 
 
Between
 
Between
 
Between
 
Between
 
 
 
   
Carrying
 
Contractual

 
Less than
 
 
1 and

 
2 and

 
3 and

 
4 and

More than
 
As at March 31, 2020
amount
 
cash flows
 
 
1 year

 
2 years

 
3 years

 
4 years

 
 5 years

 
5 years

Non-derivative financial liabilities
 
 

 
 

 
 

 
 

 
 

 
 

 
 

 
 

Accounts payable and
 
 

 
 

 
 

 
 

 
 

 
 

 
 

 
 

accrued liabilities (1)
$
709.1

$
709.1

$
709.1

$
—

$
—

$
—

$
—

$
—

Total long-term debt (2)
 
3,305.2

 
4,319.8

 
296.5

 
555.1

 
564.8

 
383.4

 
340.1

 
2,179.9

Other non-current liabilities (3)
 
182.0

 
397.8

 
0.7

 
49.8

 
31.2

 
32.1

 
32.4

 
251.6

  
$
4,196.3

$
5,426.7

$
1,006.3

$
604.9

$
596.0

$
415.5

$
372.5

$
2,431.5

Net derivative financial liabilities
 
 
 

 
 

 
 

 
 

 
 

 
 

 
 

 
 

Forward foreign  
 
 

 
 

 
 

 
 

 
 

 
 

 
 

 
 

currency contracts (4)
$
38.8

 
 

 
 

 
 

 
 

 
 

 
 

 
 

Outflow
 
 

$
1,862.5

$
1,636.1

$
171.0

$
42.4

$
9.2

$
3.8

$
—

Inflow
 
 

 
(1,822.8
)
 
(1,606.6
)
 
(164.8
)
 
(39.4
)
 
(8.5
)
 
(3.5
)
 
—

Swap derivatives on total
 
 

 
 

 
 

 
 

 
 

 
 

 
 

 
 

long-term debt
 
0.3

 
(6.3
)
 
7.8

 
(4.0
)
 
(3.9
)
 
(3.0
)
 
(2.2
)
 
(1.0
)
Equity swap agreement
 
55.5

 
55.5

 
55.5

 
—

 
—

 
—

 
—

 
—

  
$
94.6

$
88.9

$
92.8

$
2.2

$
(0.9
)
$
(2.3
)
$
(1.9
)
$
(1.0
)
  
$
4,290.9

$
5,515.6

$
1,099.1

$
607.1

$
595.1

$
413.2

$
370.6

$
2,430.5

 
 
 
 
 
 
 
Between
 
Between
 
Between
 
Between
 
 
 
   
 
Carrying

Contractual
 
Less than
 
 
1 and

 
2 and

 
3 and

 
4 and

More than
 
As at March 31, 2019
 
amount

cash flows
 
 
1 year

 
2 years

 
3 years

 
4 years

 
 5 years

 
5 years

Non-derivative financial liabilities
 
 

 
 

 
 

 
 

 
 

 
 

 
 

 
 

Accounts payable and  
 
 

 
 

 
 

 
 

 
 

 
 

 
 

 
 

accrued liabilities (1)
$
770.8

$
770.8

$
770.8

$
—

$
—

$
—

$
—

$
—

Total long-term debt (2)
 
2,335.4

 
3,393.0

 
359.8

 
251.7

 
200.3

 
239.4

 
228.6

 
2,113.2

Other non-current liabilities (3)
 
175.9

 
413.0

 
0.3

 
19.3

 
44.2

 
31.6

 
32.6

 
285.0

  
$
3,282.1

$
4,576.8

$
1,130.9

$
271.0

$
244.5

$
271.0

$
261.2

$
2,398.2

Net derivative financial  
 
 

 
 

 
 

 
 

 
 

 
 

 
 

 
 

liabilities (assets)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Forward foreign  
 
 

 
 

 
 

 
 

 
 

 
 

 
 

 
 

currency contracts (4)
$
9.0

 
 

 
 

 
 

 
 

 
 

 
 

 
 

Outflow
 
 

$
1,708.0

$
1,448.0

$
186.4

$
55.0

$
16.3

$
1.0

$
1.3

Inflow
 
 

 
(1,699.0
)
 
(1,437.1
)
 
(189.4
)
 
(54.7
)
 
(15.5
)
 
(1.0
)
 
(1.3
)
Swap derivatives on total
 
 

 
 

 
 

 
 

 
 

 
 

 
 

 
 

long-term debt
 
(11.1
)
 
(12.7
)
 
(2.1
)
 
(2.0
)
 
(2.0
)
 
(2.0
)
 
(1.9
)
 
(2.7
)
Embedded foreign currency
 
 

 
 

 
 

 
 

 
 

 
 

 
 

 
 

derivatives 
 
(0.1
)
 
(0.1
)
 
(0.1
)
 
—

 
—

 
—

 
—

 
—

Equity swap agreement
 
(10.4
)
 
(10.4
)
 
(10.4
)
 
—

 
—

 
—

 
—

 
—

  
$
(12.6
)
$
(14.2
)
$
(1.7
)
$
(5.0
)
$
(1.7
)
$
(1.2
)
$
(1.9
)
$
(2.7
)
  
$
3,269.5

$
4,562.6

$
1,129.2

$
266.0

$
242.8

$
269.8

$
259.3

$
2,395.5

(1) Includes trade accounts payable, accrued liabilities, interest payable and certain payroll-related liabilities.
(2) Contractual cash flows include contractual interest and principal payments related to debt obligations and excludes transaction costs.
(3) Includes non-current royalty obligations and other non-current liabilities.
(4) Outflows and inflows are presented in CDN equivalent using the contractual forward foreign currency rate and include forward foreign currency contracts
Disclosure of foreign currency risk exposure
The forward foreign currency contracts outstanding are as follows:
 (amounts in millions, except average rate)
 
 
 
2020

 
 

 
2019

  
 
Notional

(1)
Average

 
Notional

(1)
Average

Currencies (sold/bought)
 
Amount

 
Rate

 
Amount

 
Rate

USD/CDN
 
 

 
 
 
 
 
 
Less than 1 year
$
833.7

 
0.74

$
717.4

 
0.77

Between 1 and 3 years
 
176.4

 
0.76

 
167.3

 
0.77

Between 3 and 5 years
 
13.0

 
0.77

 
17.4

 
0.79

More than 5 years
 
—

 
—

 
1.3

 
—

EUR/CDN
 
 

 
 

 
 

 
 

Less than 1 year
 
180.5

 
0.64

 
166.2

 
0.65

Between 1 and 3 years
 
12.3

 
0.60

 
71.3

 
0.61

GBP/CDN
 
 

 
 

 
 

 
 

Less than 1 year
 
71.5

 
0.59

 
49.8

 
0.58

Between 1 and 3 years
 
0.2

 
0.60

 
1.8

 
0.55

CDN/USD
 
 

 
 

 
 

 
 

Less than 1 year
 
289.7

 
1.36

 
282.9

 
1.33

Between 1 and 3 years
 
23.7

 
1.32

 
—

 
—

Other currencies
 
 

 
 

 
 

 
 

Less than 1 year
 
247.5

 
n.a.

 
231.6

 
n.a.

Between 1 and 3 years
 
0.8

 
n.a.

 
1.0

 
n.a.

Between 3 and 5 years
 
13.2

 
n.a.

 
—

 
n.a.

Total
$
1,862.5

 
 

$
1,708.0

 
 

(1) Exchange rates as at the end of the respective periods were used to translate amounts in foreign currencies.
Sensitivity analysis for types of market risk
The following table presents the Company’s exposure to foreign currency risk of financial instruments and the pre-tax effects on net income and OCI as a result of a reasonably possible strengthening of 5% in the relevant foreign currency against the Canadian dollar as at March 31. This analysis assumes all other variables remain constant.
 
USD
€
GBP
 
Net income
 
 
OCI

Net income
 
 
OCI

Net income
 
 
OCI

2020
 
$
4.8

 
$
(19.6
)
 
$
(0.5
)
 
$
(3.1
)
 
$
0.2

 
$
(0.4
)
2019
 
3.0

 
(17.2
)
 
(0.4
)
 
(4.0
)
 
1.2

 
(0.2
)
Disclosure of letters of credit and guarantees
 
 
2020

 
2019

Advance payments
$
36.0

$
44.7

Contract performance
 
44.0

 
42.3

Lease obligations
 
37.1

 
39.9

Financial obligations
 
63.0

 
76.9

Other
 
9.5

 
1.2

  
$
189.6

$
205.0