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EMPLOYEE BENEFITS OBLIGATIONS (Tables)
 12 Months Ended
Mar. 31, 2024
Disclosure of share-based payments arrangements [Abstract]  
Disclosure of net defined benefit liability (asset)
The employee benefits obligations are as follows:
20242023
Funded defined benefit pension obligations$476.3 $590.7 
Fair value of plan assets542.0 641.7 
Funded defined benefit pension surplus – net$(65.7)$(51.0)
Unfunded defined benefit pension obligations98.7 91.8 
Employee benefits obligations - net$33.0 $40.8 
Employee benefit assets$(65.7)$(51.1)
Employee benefit obligations$98.7 $91.9 

Changes in funded defined benefit pension obligations and fair value of plan assets are as follows:
  2024  2023
CanadianForeignTotalCanadianForeignTotal
Pension obligations, beginning of year$585.5 $5.2 $590.7 $631.8 $6.9 $638.7 
Current service cost31.9 — 31.9 32.5 — 32.5 
Interest cost22.5 0.3 22.8 23.9 0.2 24.1 
Past service cost2.9 — 2.9 — — — 
Actuarial loss (gain) arising from:    
Experience adjustments(3.0)— (3.0)25.5 0.2 25.7 
Economic assumptions4.6 — 4.6 (102.8)(1.8)(104.6)
Demographic assumptions— (0.1)(0.1)2.6 (0.1)2.5 
Employee contributions9.5 — 9.5 9.2 — 9.2 
Pension benefits paid(14.0)(0.4)(14.4)(25.5)(0.2)(25.7)
Settlements(168.9)— (168.9)(11.7)— (11.7)
Net transfers0.3 — 0.3 — — — 
Foreign currency exchange differences— — — — — — 
Pension obligations, end of year$471.3 $5.0 $476.3 $585.5 $5.2 $590.7 
Fair value of plan assets, beginning of year$635.3 $6.4 $641.7 $617.1 $6.8 $623.9 
Interest income25.1 0.3 25.4 23.9 0.2 24.1 
Return on plan assets, excluding amounts    
included in interest income18.2 0.3 18.5 (10.1)(0.9)(11.0)
Employer contributions24.9 0.3 25.2 33.0 0.4 33.4 
Employee contributions9.5 — 9.5 9.2 — 9.2 
Pension benefits paid(14.0)(0.4)(14.4)(25.5)(0.2)(25.7)
Settlements(163.5)— (163.5)(11.7)— (11.7)
Net transfers0.3 — 0.3 — — — 
Administrative costs(0.8)— (0.8)(0.6)— (0.6)
Foreign currency exchange differences— 0.1 0.1 — 0.1 0.1 
Fair value of plan assets, end of year$535.0 $7.0 $542.0 $635.3 $6.4 $641.7 
Changes in unfunded defined benefit pension obligations are as follows:
  2024  2023
 CanadianForeignTotalCanadianForeignTotal
Pension obligations, beginning of year$81.3 $10.5 $91.8 $82.6 $12.3 $94.9 
Current service cost3.9 1.3 5.2 4.1 1.0 5.1 
Interest cost3.9 0.5 4.4 3.0 0.3 3.3 
Past service cost— — — — 0.2 0.2 
Actuarial loss (gain) arising from:  
Experience adjustments(0.4)0.4 — 5.5 (0.6)4.9 
Economic assumptions0.5 0.5 1.0 (11.0)(2.7)(13.7)
Pension benefits paid(3.0)(0.7)(3.7)(2.9)(0.6)(3.5)
Foreign currency exchange differences— — — — 0.6 0.6 
Pension obligations, end of year$86.2 $12.5 $98.7 $81.3 $10.5 $91.8 
Disclosure of additional information about defined benefit plans
Net pension cost is as follows:
  2024  2023
 CanadianForeignTotalCanadianForeignTotal
Funded plans      
Current service cost$31.9 $— $31.9 $32.5 $— $32.5 
Interest cost22.5 0.3 22.8 23.9 0.2 24.1 
Interest income(25.1)(0.3)(25.4)(23.9)(0.2)(24.1)
Past service cost2.9 — 2.9 — — — 
Settlement gain(5.4)— (5.4)— — — 
Administrative cost0.8 — 0.8 0.6 — 0.6 
Net pension cost of funded plans$27.6 $— $27.6 $33.1 $— $33.1 
Unfunded plans     
Current service cost$3.9 $1.3 $5.2 $4.1 $1.0 $5.1 
Interest cost3.9 0.5 4.4 3.0 0.3 3.3 
Past service cost— — — — 0.2 0.2 
Net pension cost of unfunded plans$7.8 $1.8 $9.6 $7.1 $1.5 $8.6 
Total net pension cost$35.4 $1.8 $37.2 $40.2 $1.5 $41.7 
Disclosure of fair value of plan assets Fair value of the plan assets, by major categories, are as follows:
 (amounts in millions)
20242023
  QuotedUnquotedTotalQuotedUnquotedTotal
Canadian plans       
Equity funds
      
Canadian$— $35.0 $35.0 $— $45.6 $45.6 
Foreign— 130.8 130.8 — 174.8 174.8 
Bond funds
Government— 117.4 117.4 — 133.3 133.3 
Corporate— 58.7 58.7 — 74.4 74.4 
Private and property investments— 180.9 180.9 — 191.7 191.7 
Cash and cash equivalents
— 9.9 9.9 — 14.4 14.4 
Other
— 2.3 2.3 — 1.1 1.1 
Total Canadian plans $— $535.0 $535.0 $— $635.3 $635.3 
Foreign plans       
Equity instruments
$2.5 $— $2.5 $2.3 $— $2.3 
Debt instruments
Corporate3.4 — 3.4 3.3 — 3.3 
Other
— 1.1 1.1 — 0.8 0.8 
Total Foreign plans $5.9 $1.1 $7.0 $5.6 $0.8 $6.4 
Total plans $5.9 $536.1 $542.0 $5.6 $636.1 $641.7 
Assumptions for defined benefit plans
Significant assumptions (weighted average) used are as follows:
 CanadianForeign
 2024202320242023
Pension obligations as at March 31:    
Discount rate5.00 %5.05 %4.43 %4.70 %
Compensation rate increases3.69 %3.66 %2.68 %2.54 %
Net pension cost for years ended March 31:
Discount rate5.05 %4.14 %4.70 %2.41 %
Compensation rate increases3.66 %3.65 %2.54 %2.66 %

Assumptions regarding future mortality are based on actuarial advice in accordance with published statistics and mortality tables and experience in each territory. The mortality tables and the average life expectancy in years for a member age 45 and 65 are as follows:
As at March 31, 2024Life expectancy over 65 for a member
(in years)
 Male  Female
CountryMortality tableat age 45at age 65 at age 45at age 65
CanadaCPM private tables23.822.426.325.0
GermanyHeubeck RT2018G23.520.826.424.2
United KingdomS3PFA M CMI 2022 22.721.424.823.3
United StatesCPM private tables25.023.626.525.5

As at March 31, 2023Life expectancy over 65 for a member
(in years)
   Male Female
CountryMortality tableat age 45at age 65at age 45at age 65
CanadaCPM private tables 23.722.226.124.8
GermanyHeubeck RT2018G23.420.626.324.0
United KingdomS2PxA CMI 2020 22.621.624.623.4
United StatesCPM private tables24.923.526.425.1
Disclosure of sensitivity analysis for actuarial assumptions
The impact on the defined benefit obligation as a result of a 0.25% change in the significant assumptions as at March 31, 2024 are as follows:
 Funded plans Unfunded plans 
Canadian ForeignCanadianForeignTotal
Discount rate:       
Increase$(21.4)
$
(0.1)
$
(2.4)
$
(0.4)
$
(24.3)
Decrease22.9 0.1 2.5 0.4 25.9 
Compensation rate:      
Increase10.3 — 0.4 0.1 10.8 
Decrease(9.7)— (0.4)(0.1)(10.2)
Expected future employer contribution
Contributions reflect actuarial assumptions of future investment returns, salary projections and future service benefits. The expected employer contributions and expected benefits paid for the next fiscal year are as follows:
CanadianForeignTotal
Expected employer contributions in funded plans

$26.9 $— $26.9 
Expected benefits paid in unfunded plans3.0 0.7 3.7