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DEBT FACILITIES | 12 Months Ended
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Mar. 31, 2024
Debt and Financing Obligations [Abstract] |
DEBT FACILITIES | DEBT FACILITIES Long-term debt, net of transaction costs is as follows:
|  |  | Repayment |  |  |  | 2024 |  |  |  | 2023
Notional amount |  | period |  | Current | Non-current |  | Current | Non-current
Unsecured senior notes |  |  |  |  |  |  |  |  |  |  |  |
U.S. dollar, fixed rate - 3.60% to 4.90% |  | US$ | 933.0 |  |  | 2024-2034 | $ | 190.5 |  | $ | 1,068.8 |  | $ | 18.5 |  | $ | 1,257.9 |
Canadian dollar, Series 1, fixed rate - 5.541% |  | $ | 400.0 |  |  | 2028 |  | — |  |  | 397.5 |  |  | — |  |  | — |
Canadian dollar, fixed rate - 4.15% |  | $ | 21.5 |  |  | 2024-2027 |  | 12.9 |  |  | 8.6 |  |  | 2.9 |  |  | 21.4 |
Term loans |  |  |  |  |  |  |  |  |  |  |  |
U.S. dollar, variable rate |  | US$ | 125.0 |  |  | 2025 |  | — |  |  | 168.9 |  |  | 67.0 |  |  | 405.4 |
Canadian dollar, variable rate |  | $ | 23.9 |  |  | 2024-2028 |  | 5.6 |  |  | 18.3 |  |  | 5.6 |  |  | 23.8 |
Other |  |  |  | 2024-2026 |  | 14.3 |  |  | 32.8 |  |  | 15.2 |  |  | 47.4 |
Lease liabilities |  |  |  |  |  |  |  |  |  |  |  |
U.S. dollar |  |  |  | 2024-2071 |  | 30.2 |  |  | 368.2 |  |  | 55.7 |  |  | 241.3 |
Other |  |  |  | 2024-2043 |  | 25.0 |  |  | 128.5 |  |  | 25.5 |  |  | 133.4 |
R&D obligations |  |  |  |  |  |  |  |  |  |  |  |
Canadian dollar |  |  |  | 2023-2048 |  | 30.4 |  |  | 543.8 |  |  | 24.2 |  |  | 471.9 |
Revolving credit facilities |  |  |  |  |  |  |  |  |  |  |  |
U.S. dollar, variable rate |  |  |  |  |  | — |  |  | — |  |  | — |  |  | 433.0 |
Canadian dollar, variable rate |  |  |  |  |  | — |  |  | 30.0 |  |  | — |  |  | — |
Total long-term debt |  |  |  |  | $ | 308.9 |  | $ | 2,765.4 |  | $ | 214.6 |  | $ | 3,035.5 |
Unsecured senior notes In June 2023, the Company completed a private offering of $400.0 million of unsecured senior notes, bearing interest at 5.541% per annum, payable in equal semi-annual installments until maturity in June 2028. Term loans In February 2024, the Company prepaid a US$175.0 million term loan due in July 2024. In March 2024, the Company repaid a term loan of US$50.0 million. Information on the change in long-term debt for which cash flows have been classified as financing activities in the statement of cash flows are as follows:
| Unsecured |  |  |  |  |  |  | Revolving |  |  |
|  | senior |  | Term |  | Lease |  | R&D |  | credit |  |  |
|  | notes |  | loans |  | liabilities | obligations |  | facility |  | Total |
Net book value as at March 31, 2022 | $ | 1,221.0 |  | $ | 620.3 |  | $ | 395.0 |  | $ | 473.0 |  | $ | 336.9 |  | $ | 3,046.2 |  |
Changes from financing cash flows |  |  |  |  |  |  |  |  |  |  |  |  |
Net repayment from borrowing under |  |  |  |  |  |  |  |  |  |  |  |  |
revolving credit facilities |  | — |  |  | — |  |  | — |  |  | — |  |  | 44.5 |  |  | 44.5 |  |
Proceeds from long-term debt |  | — |  |  | — |  |  | — |  |  | 31.2 |  |  | — |  |  | 31.2 |  |
Repayment of long-term debt |  | (21.8) |  |  | (106.1) |  |  | — |  |  | (33.1) |  |  | — |  |  | (161.0) |  |
Repayment of lease liabilities |  | — |  |  | — |  |  | (83.4) |  |  | — |  |  | — |  |  | (83.4) |  |
Total changes from financing cash flows | $ | (21.8) |  | $ | (106.1) |  | $ | (83.4) |  | $ | (1.9) |  | $ | 44.5 |  | $ | (168.7) |  |
Non-cash changes |  |  |  |  |  |  |  |  |  |  |  |  |
Foreign currency exchange differences |  | 101.1 |  |  | 48.9 |  |  | 21.7 |  |  | — |  |  | 51.6 |  |  | 223.3 |  |
Additions and remeasurement of lease liabilities |  | — |  |  | — |  |  | 128.2 |  |  | — |  |  | — |  |  | 128.2 |  |
Accretion |  | — |  |  | — |  |  | — |  |  | 25.0 |  |  | — |  |  | 25.0 |  |
Other |  | 0.4 |  |  | 1.3 |  |  | (5.6) |  |  | — |  |  | — |  |  | (3.9) |  |
Total non-cash changes | $ | 101.5 |  | $ | 50.2 |  | $ | 144.3 |  | $ | 25.0 |  | $ | 51.6 |  | $ | 372.6 |  |
Net book value as at March 31, 2023 | $ | 1,300.7 |  | $ | 564.4 |  | $ | 455.9 |  | $ | 496.1 |  | $ | 433.0 |  | $ | 3,250.1 |  |
Changes from financing cash flows |  |  |  |  |  |  |  |  |  |  |  |  |
Net proceeds from borrowing under |  |  |  |  |  |  |  |  |  |  |  |  |
revolving credit facilities |  | — |  |  | — |  |  | — |  |  | — |  |  | (396.7) |  |  | (396.7) |  |
Proceeds from long-term debt |  | 397.1 |  |  | — |  |  | — |  |  | 36.4 |  |  | — |  |  | 433.5 |  |
Repayment of long-term debt |  | (21.7) |  |  | (324.0) |  |  | — |  |  | (24.7) |  |  | — |  |  | (370.4) |  |
Repayment of lease liabilities |  | — |  |  | — |  |  | (69.5) |  |  | — |  |  | — |  |  | (69.5) |  |
Total changes from financing cash flows | $ | 375.4 |  | $ | (324.0) |  | $ | (69.5) |  | $ | 11.7 |  | $ | (396.7) |  | $ | (403.1) |  |
Non-cash changes |  |  |  |  |  |  |  |  |  |  |  |  |
Foreign currency exchange differences |  | 1.2 |  |  | (1.3) |  |  | 0.5 |  |  | — |  |  | (6.3) |  |  | (5.9) |  |
Additions and remeasurement of lease liabilities |  | — |  |  | — |  |  | 177.2 |  |  | — |  |  | — |  |  | 177.2 |  |
Disposal of discontinued operations (Note 2) |  | — |  |  | — |  |  | (12.2) |  |  | — |  |  | — |  |  | (12.2) |  |
Accretion |  | — |  |  | — |  |  | — |  |  | 27.9 |  |  | — |  |  | 27.9 |  |
Transfer from royalty obligations (Note 2) |  | — |  |  | — |  |  | — |  |  | 36.9 |  |  | — |  |  | 36.9 |  |
Other |  | 1.0 |  |  | 0.8 |  |  | — |  |  | 1.6 |  |  | — |  |  | 3.4 |  |
Total non-cash changes | $ | 2.2 |  | $ | (0.5) |  | $ | 165.5 |  | $ | 66.4 |  | $ | (6.3) |  | $ | 227.3 |  |
Net book value as at March 31, 2024 | $ | 1,678.3 |  | $ | 239.9 |  | $ | 551.9 |  | $ | 574.2 |  | $ | 30.0 |  | $ | 3,074.3 |  |
The Company's unsecured senior notes, term loans and revolving credit facility include standard events of default and covenant provisions whereby accelerated repayment and/or termination of the agreements may result if the Company were to default on payment or violate certain covenants. As at March 31, 2024, the Company is in compliance with all of its financial covenants, as amended from time to time.

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- Definition The disclosure of borrowings. [Refer: Borrowings] + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Name IAS -Number 1 -IssueDate 2023-01-01 -Paragraph 10 -Subparagraph e -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=1&code=ifrs-tx-2023-en-r&anchor=para_10_e&doctype=Standard -URIDate 2023-03-23 + Details
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