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OPERATING SEGMENTS AND GEOGRAPHIC INFORMATION (Tables) | 12 Months Ended
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Mar. 31, 2025
Disclosure of operating segments [abstract] |
Results by segment | Specified items included in the segment profitability measure are as follows:
|  | Defense |  |  |  |  |
| Civil Aviation | and Security |  |  | Total
| 2025 | 2024 | 2025 | 2024 |  |  |  | 2025 | 2024
External revenue | $ | 2,709.3 |  | $ | 2,435.8 |  | $ | 1,998.6 |  | $ | 1,847.0 |  |  |  |  | $ | 4,707.9 |  | $ | 4,282.8 |
Depreciation and amortization | 312.4 |  | 272.0 |  | 102.3 |  | 96.7 |  |  |  |  | 414.7 |  | 368.7 |
Share of after-tax profit of equity accounted investees | 68.3 |  | 60.8 |  | 20.0 |  | 11.4 |  |  |  |  | 88.3 |  | 72.2 |
Gross profit | 883.6 |  | 867.8 |  | 416.5 |  | 286.7 |  |  |  |  | 1,300.1 |  | 1,154.5 |
Operating income (loss) | 605.3 |  | 442.0 |  | 123.9 |  | (627.4) |  |  |  |  | 729.2 |  | (185.4) |
Adjusted segment operating income | 581.5 |  | 548.9 |  | 150.5 |  | 0.8 |  |  |  |  | 732.0 |  | 549.7 |
Reconciliation of adjusted segment operating income is as follows:
|  | Defense |  |  |  |  |  |
| Civil Aviation | and Security |  |  |  | Total
| 2025 | 2024 | 2025 | 2024 |  |  |  |  | 2025 | 2024
Operating income (loss) | $ | 605.3 |  | $ | 442.0 |  | $ | 123.9 |  | $ | (627.4) |  |  |  |  |  | $ | 729.2 |  | $ | (185.4) |
Restructuring, integration and acquisition costs (Note 6) | 37.8 |  | 106.9 |  | 18.7 |  | 24.5 |  |  |  |  |  | 56.5 |  | 131.4 |
Impairments and other gains and losses arising from |  |  |  |  |  |  |  |  |  |
significant strategic transactions or specific events: |  |  |  |  |  |  |  |  |  |
Gain on fair value remeasurement of SIMCOM (Note 7) | (72.6) | — |  | — |  | — |  |  |  |  |  | (72.6) |  | — |
Shareholder matters | 6.3 | — |  | 4.3 |  | — |  |  |  |  |  | 10.6 |  | — |
Executive management transition costs | 4.7 | — |  | 3.6 |  | — |  |  |  |  |  | 8.3 |  | — |
Impairment of goodwill (Note 15) | — | — |  | — |  | 568.0 |  |  |  |  |  | — |  | 568.0 |
Impairment of technology and other non-financial assets (Note 5) | — | — |  | — |  | 35.7 |  |  |  |  |  | — |  | 35.7 |
Adjusted segment operating income | $ | 581.5 |  | $ | 548.9 |  | $ | 150.5 |  | $ | 0.8 |  |  |  |  |  | $ | 732.0 |  | $ | 549.7 |
Capital expenditures by segment, which consist of property, plant and equipment expenditures and intangible assets expenditures (excluding those acquired in business combinations), are as follows:
|  | 2025 |  | 2024
Civil Aviation |  | $ | 296.3 |  |  | $ | 335.3 |
Defense and Security |  | 147.8 |  |  | 128.7 |
Discontinued operations (Note 3) |  | — |  |  | 13.7 |
Total capital expenditures |  | $ | 444.1 |  |  | $ | 477.7 |
Assets and liabilities employed by segment are reconciled to total assets and liabilities as follows:
|  | 2025 |  | 2024
Assets employed |  |  |  |
Civil Aviation | $ | 7,263.4 |  | $ | 6,131.8 |
Defense and Security |  | 3,000.6 |  |  | 2,869.3 |
Assets not included in assets employed by segment |  | 949.8 |  |  | 833.0 |
Total assets | $ | 11,213.8 |  | $ | 9,834.1 |
Liabilities employed |  |  |  |
Civil Aviation | $ | 1,369.1 |  | $ | 1,260.1 |
Defense and Security |  | 1,009.3 |  |  | 828.1 |
Liabilities not included in liabilities employed by segment |  | 3,859.4 |  |  | 3,443.3 |
Total liabilities | $ | 6,237.8 |  | $ | 5,531.5 |
Products and services information | The Company's revenue from external customers for its products and services are as follows:
|  | Defense |  |
| Civil Aviation | and Security |  | Total
| 2025 | 2024 | 2025 | 2024 | 2025 | 2024
Products | $ | 963.7 |  | $ | 786.6 |  | $ | 907.7 |  | $ | 708.7 |  | $ | 1,871.4 |  | $ | 1,495.3 |
Training, software and services | 1,745.6 |  | 1,649.2 |  | 1,090.9 |  | 1,138.3 |  | 2,836.5 |  | 2,787.5 |
Total external revenue | $ | 2,709.3 |  | $ | 2,435.8 |  | $ | 1,998.6 |  | $ | 1,847.0 |  | $ | 4,707.9 |  | $ | 4,282.8 |
Geographic information | The Company markets its products and services globally. Revenues are attributed to geographical regions based on the location of customers. Non-current assets other than financial instruments and deferred tax assets are attributed to geographical regions based on the location of the assets, excluding goodwill. Goodwill is presented by geographical regions based on the Company’s allocation of the related purchase price.
|  | 2025 |  | 2024
External revenue |  |  |  |
Canada | $ | 474.2 |  | $ | 460.7 |
United States |  | 2,241.8 |  |  | 2,076.3 |
United Kingdom |  | 281.6 |  |  | 271.1 |
Rest of Americas |  | 133.0 |  |  | 98.8 |
Europe |  | 663.6 |  |  | 645.1 |
Asia |  | 759.9 |  |  | 566.1 |
Oceania and Africa |  | 153.8 |  |  | 164.7 |
| $ | 4,707.9 |  | $ | 4,282.8 |
|  | 2025 |  | 2024
Non-current assets other than financial instruments, deferred tax assets and employee benefits assets |  |  |  |
Canada | $ | 1,541.7 |  | $ | 1,527.7 |
United States |  | 4,534.7 |  |  | 3,623.5 |
United Kingdom |  | 399.0 |  |  | 360.5 |
Rest of Americas |  | 221.8 |  |  | 201.9 |
Europe |  | 1,162.3 |  |  | 985.5 |
Asia |  | 610.8 |  |  | 532.0 |
Oceania and Africa |  | 188.2 |  |  | 108.9 |
| $ | 8,658.5 |  | $ | 7,340.0 |

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