DEBT FACILITIES

12 Months Ended

Mar. 31, 2024

Debt and Financing Obligations [Abstract]

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.