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LEASES | 12 Months Ended
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Mar. 31, 2023
Disclosure of leases [Abstract] |
LEASES | LEASES Leases as lessee Right-of-use assets
|  |  |  |  |  | Machinery |  |  |  |  |  |  |
|  |  | Buildings |  |  |  | and |  |  |  |  |  |  |  |
|  |  | and land | Simulators | equipment |  | Aircraft |  |  |  |  | Total
Net book value as at March 31, 2021 |  |  | $ | 212.0 |  | $ | 65.9 |  | $ | 18.1 |  | $ | 12.5 |  |  |  |  |  | $ | 308.5 |
Additions and remeasurements |  |  |  | 59.4 |  |  | 60.0 |  |  | 0.2 |  |  | — |  |  |  |  |  |  | 119.6 |
Business combinations (Note 2) |  |  |  | 32.7 |  |  | — |  |  | — |  |  | — |  |  |  |  |  |  | 32.7 |
Depreciation |  |  |  | (31.2) |  |  | (13.8) |  |  | (2.6) |  |  | (0.8) |  |  |  |  |  |  | (48.4) |
Impairment |  |  |  | (8.1) |  |  | — |  |  | — |  |  | — |  |  |  |  |  |  | (8.1) |
Purchase of assets under lease (Note 12) |  |  |  | — |  |  | (21.7) |  |  | — |  |  | — |  |  |  |  |  |  | (21.7) |
Transfers and others |  |  |  | (3.3) |  |  | 0.5 |  |  | (0.2) |  |  | — |  |  |  |  |  |  | (3.0) |
Foreign currency exchange differences |  |  |  | (6.2) |  |  | (0.4) |  |  | — |  |  | — |  |  |  |  |  |  | (6.6) |
Net book value as at March 31, 2022 |  |  | $ | 255.3 |  | $ | 90.5 |  | $ | 15.5 |  | $ | 11.7 |  |  |  |  |  | $ | 373.0 |
Additions and remeasurements |  |  |  | 120.9 |  |  | 7.3 |  |  | — |  |  | — |  |  |  |  |  |  | 128.2 |
Depreciation |  |  |  | (36.6) |  |  | (9.9) |  |  | (2.8) |  |  | (0.8) |  |  |  |  |  |  | (50.1) |
Purchase of assets under lease (Note 12) |  |  |  | — |  |  | (34.6) |  |  | — |  |  | — |  |  |  |  |  |  | (34.6) |
Transfers and others |  |  |  | (6.1) |  |  | (2.3) |  |  | (0.3) |  |  | — |  |  |  |  |  |  | (8.7) |
Foreign currency exchange differences |  |  |  | 13.2 |  |  | 5.9 |  |  | — |  |  | — |  |  |  |  |  |  | 19.1 |
Net book value as at March 31, 2023 |  |  | $ | 346.7 |  | $ | 56.9 |  | $ | 12.4 |  | $ | 10.9 |  |  |  |  |  | $ | 426.9 |
During the year ended March 31, 2023, depreciation of $47.5 million (2022 – $46.0 million) has been recorded in cost of sales and $2.6 million (2022 – $2.4 million) in selling, general and administrative expenses. Short-term leases, leases of low-value assets and variable lease payments During the year ended March 31, 2023, expenses of $16.8 million (2022 – $15.4 million) have been recognized in net income relating to short-term leases, leases of low-value assets and variable lease payments not included in the measurement of lease liabilities. Leases as lessor Operating Leases As at March 31, 2023, the net book value of property, plant and equipment leased under operating leases to third parties was $76.1 million (2022 – $51.8 million). Undiscounted lease payments to be received under operating leases are as follows:
|  | 2023 |  | 2022
Less than 1 year | $ | 33.0 |  | $ | 36.3 |
Between 1 and 2 years |  | 32.6 |  |  | 24.1 |
Between 2 and 3 years |  | 30.0 |  |  | 23.3 |
Between 3 and 4 years |  | 21.7 |  |  | 21.0 |
Between 4 and 5 years |  | 16.5 |  |  | 13.6 |
More than 5 years |  | 13.8 |  |  | 26.8 |
Total undiscounted lease payments receivable | $ | 147.6 |  | $ | 145.1 |
Finance Leases Undiscounted lease payments to be received under finance leases are as follows:
|  | 2023 |  |  |  | 2022 |  |
Less than 1 year | $ | 16.6 |  |  |  | $ | 24.9 |  |  |
Between 1 and 2 years |  | 14.6 |  |  |  |  | 12.0 |  |  |
Between 2 and 3 years |  | 15.1 |  |  |  |  | 12.9 |  |  |
Between 3 and 4 years |  | 16.3 |  |  |  |  | 11.1 |  |  |
Between 4 and 5 years |  | 13.6 |  |  |  |  | 11.8 |  |  |
More than 5 years |  | 128.2 |  |  |  |  | 114.5 |  |  |
Total undiscounted lease payments receivable | $ | 204.4 |  |  |  | $ | 187.2 |  |  |
Unearned finance income |  | (68.0) |  |  |  |  | (59.1) |  |  |
Discounted unguaranteed residual values of leased assets |  | (10.7) |  |  |  |  | (9.4) |  |  |
Total investment in finance leases | $ | 125.7 |  |  |  | $ | 118.7 |  |  |
Current portion (Note 9) |  | 13.5 |  |  |  |  | 21.6 |  |  |
Non-current portion (Note 15) | $ | 112.2 |  |  |  | $ | 97.1 |  |  |

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- Definition The entire disclosure for leases. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Name IFRS -Number 16 -IssueDate 2022-03-24 -Section Presentation -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=16&code=ifrs-tx-2022-en-r&doctype=Standard&dita_xref=IFRS16_g47-50__IFRS16_g47-50_TI -URIDate 2022-03-24 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Name IFRS -Number 16 -IssueDate 2022-03-24 -Section Disclosure -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=16&code=ifrs-tx-2022-en-r&doctype=Standard&dita_xref=IFRS16_g51-60__IFRS16_g51-60_TI -URIDate 2022-03-24 + Details
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