DEBT FACILITIES

12 Months Ended

Mar. 31, 2025

Debt and Financing Obligations [Abstract]

Long-term debt, net of transaction costs is as follows:


			Repayment					2025				2024
Notional amount				period		Current	Non-current			Current	Non-current
Unsecured senior notes
U.S. dollar, fixed rate - 3.60% to 4.90%	US$	792.0		2025-2034	$	20.0	$	1,114.7	$	190.5	$	1,068.8
Canadian dollar, Series 1, fixed rate - 5.54%	$	400.0		2028		—		398.1		—		397.5
Canadian dollar, fixed rate - 4.15%	$	8.6		2025-2027		2.9		5.7		12.9		8.6

Term loans
U.S. dollar, variable rate	US$	325.0		2025-2026		178.7		288.3		—		168.9
Canadian dollar, variable rate	$	18.3		2025-2028		5.6		12.6		5.6		18.3
Other				2025-2026		33.5		—		14.3		32.8
Lease liabilities
U.S. dollar				2025-2071		92.0		432.0		30.2		368.2
Other				2025-2054		29.1		239.0		25.0		128.5

R&D obligations
Canadian dollar				2025-2048		37.2		581.0		30.4		543.8
Revolving credit facilities
U.S. dollar, variable rate						—		—		—		—
Canadian dollar, variable rate						—		—		—		30.0
Total long-term debt					$	399.0	$	3,071.4	$	308.9	$	2,765.4

Revolving credit facility extension

In September 2024, the Company extended the maturity date of its US$1.0 billion unsecured revolving credit facility until September 2028.

Term loan

In December 2024, the Company entered into an unsecured term loan agreement with a syndicated group of banks amounting to US$200.0 million maturing in June 2026, bearing interest at a variable rate.

Unsecured senior notes

In December 2024, the Company repaid unsecured senior notes of US$127.0 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, 2023	$	1,300.7	$	564.4	$	455.9	$	496.1	$	433.0	$	3,250.1
Changes from financing cash flows
Net repayment 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 remeasurements of lease liabilities		—		—		177.2		—		—		177.2
Disposal of discontinued operations (Note 3)		—		—		(12.2)		—		—		(12.2)
Accretion		—		—		—		27.9		—		27.9
Transfer from royalty obligations (Note 3)		—		—		—		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
Changes from financing cash flows
Net repayment from borrowing under
revolving credit facilities		—		—		—		—		(45.0)		(45.0)
Proceeds from long-term debt		—		285.8		—		45.7		—		331.5
Repayment of long-term debt		(216.1)		(72.6)		—		(32.6)		—		(321.3)
Repayment of lease liabilities		—		—		(59.9)		—		—		(59.9)
Total changes from financing cash flows	$	(216.1)	$	213.2	$	(59.9)	$	13.1	$	(45.0)	$	(94.7)
Non-cash changes
Business combinations (Note 2)		—		48.5		110.0		—		—		158.5
Foreign currency exchange differences		78.1		16.3		36.7		—		15.0		146.1
Additions and remeasurements of lease liabilities		—		—		153.4		—		—		153.4

Accretion		—		—		—		32.5		—		32.5

Other		1.1		0.8		—		(1.6)		—		0.3
Total non-cash changes	$	79.2	$	65.6	$	300.1	$	30.9	$	15.0	$	490.8
Net book value as at March 31, 2025	$	1,541.4	$	518.7	$	792.1	$	618.2	$	—	$	3,470.4

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, 2025, the Company is in compliance with all of its financial covenants, as amended from time to time.