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INCOME TAXES (Tables) | 12 Months Ended
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Mar. 31, 2025
Income Tax [Abstract] |
Effective Income Tax Rate Reconciliation | The reconciliation of income taxes at Canadian statutory rates with the income tax expense (recovery) is as follows:
|  | 2025 |  | 2024
Earnings (loss) before income taxes | $ | 513.7 |  | $ | (390.4) |
Canadian statutory income tax rates |  | 26.5 | % |  | 26.5 | %
Income taxes at Canadian statutory rates | $ | 136.2 |  | $ | (103.5) |
Effect of differences in tax rates in other jurisdictions |  | 1.8 |  |  | 7.4 |
Non-deductible impairment of goodwill |  | — |  |  | 41.6 |
Tax benefits not previously recognized and unrecognized tax benefits |  | (6.8) |  |  | 18.3 |
Non-taxable gain on fair value remeasurement of SIMCOM |  | (21.9) |  |  | — |
Non-taxable revenues |  | — |  |  | (4.1) |
Tax impact on after tax profit of equity accounted investees |  | (18.5) |  |  | (18.8) |
Prior years' tax adjustments |  | 2.8 |  |  | (14.4) |
Other |  | 5.1 |  |  | 0.7 |
Income tax expense (recovery) | $ | 98.7 |  | $ | (72.8) |
Effective tax rate |  | 19 | % |  | 19 | %
Schedule of Components of Income Tax Expense (Benefit) | Significant components of the provision for the income tax expense (recovery) are as follows:
|  | 2025 |  | 2024
Current income tax expense : |  |  |  |
Current year | $ | 56.7 |  | $ | 74.0 |
Prior years' tax adjustments |  | (2.7) |  |  | 68.2 |
Deferred income tax expense (recovery): |  |  |  |
Tax benefit not previously recognized used to reduce the deferred tax expense |  | (6.8) |  |  | 18.3 |
Origination and reversal of temporary differences |  | 51.5 |  |  | (233.3) |
Income tax expense (recovery) | $ | 98.7 |  | $ | (72.8) |
Disclosure of temporary difference, unused tax losses and unused tax credits | During the year ended March 31, 2025, movements in temporary differences are as follows:
|  |  |  |  |  |  |  |  |  | Foreign |  |
| Balance |  |  |  | Business | currency |  |
| beginning | Recognized | Recognized | Recognized | combinations | exchange |  | Balance
| of year | in income |  | in OCI |  | in equity | (Note 2) | differences | end of year
Non-capital loss carryforwards | $ | 142.5 |  |  | $ | (61.3) |  |  | $ | — |  |  | $ | — |  |  | $ | 3.3 |  |  | $ | 5.2 |  |  | $ | 89.7 |
Unclaimed research & development expenditures | 162.1 |  |  | 59.0 |  |  | — |  |  | — |  |  | — |  |  | 6.7 |  |  | 227.8 |
Investment tax credits | (73.8) |  |  | (3.0) |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (76.8) |
Property, plant and equipment and right-of-use of assets | (154.1) |  |  | 9.3 |  |  | — |  |  | — |  |  | (11.1) |  |  | (12.1) |  |  | (168.0) |
Intangible assets | (39.0) |  |  | (59.7) |  |  | — |  |  | — |  |  | (26.3) |  |  | (1.8) |  |  | (126.8) |
Amounts not currently deductible including interest limitation | 76.9 |  |  | 22.7 |  |  | — |  |  | 2.4 |  |  | 6.5 |  |  | 2.2 |  |  | 110.7 |
Government participation | 86.4 |  |  | 7.2 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 93.6 |
Other | (4.3) |  |  | (18.9) |  |  | 20.3 |  |  | — |  |  | 3.9 |  |  | (0.1) |  |  | 0.9 |
Net deferred tax assets | $ | 196.7 |  |  | $ | (44.7) |  |  | $ | 20.3 |  |  | $ | 2.4 |  |  | $ | (23.7) |  |  | $ | 0.1 |  |  | $ | 151.1 |
During the year ended March 31, 2024, movements in temporary differences are as follows:
|  |  |  |  |  |  |  |  |  | Foreign |  |
| Balance |  |  |  | Disposal of |  |  | currency |  |
| beginning | Recognized | Recognized | discontinued |  |  | exchange |  | Balance
| of year | in income |  | in OCI | operations |  |  | differences | end of year
Non-capital loss carryforwards | $ | 98.2 |  |  | $ | 59.4 |  |  | $ | — |  |  | (14.6) |  |  |  |  | $ | (0.5) |  |  | $ | 142.5 |
Unclaimed research & development expenditures | 162.3 |  |  | 13.5 |  |  | — |  |  | (13.7) |  |  |  |  | — |  |  | 162.1 |
Investment tax credits | (82.1) |  |  | 5.8 |  |  | — |  |  | 2.1 |  |  |  |  | 0.4 |  |  | (73.8) |
Property, plant and equipment and right-of-use of assets | (114.8) |  |  | (41.0) |  |  | — |  |  | 1.1 |  |  |  |  | 0.6 |  |  | (154.1) |
Intangible assets | (114.7) |  |  | 64.6 |  |  | — |  |  | 10.5 |  |  |  |  | 0.6 |  |  | (39.0) |
Amounts not currently deductible including interest limitation | 80.3 |  |  | 3.0 |  |  | — |  |  | (6.9) |  |  |  |  | 0.5 |  |  | 76.9 |
Government participation | (32.6) |  |  | 118.7 |  |  | — |  |  | 0.3 |  |  |  |  | — |  |  | 86.4 |
Other | (0.8) |  |  | 9.7 |  |  | (10.6) |  |  | (3.9) |  |  |  |  | 1.3 |  |  | (4.3) |
Net deferred tax assets (liabilities) | $ | (4.2) |  |  | $ | 233.7 |  |  | $ | (10.6) |  |  | $ | (25.1) |  |  |  |  | $ | 2.9 |  |  | $ | 196.7 |
The non-capital losses incurred in various jurisdictions expire as follows:
Expiry date | Unrecognized | Recognized
2026-2030 | $ | 23.2 |  | $ | 8.4 |
2031-2045 |  | 23.4 |  |  | 86.9 |
No expiry date |  | 167.4 |  |  | 265.6 |
| $ | 214.0 |  | $ | 360.9 |

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