FINANCIAL RISK MANAGEMENT (Tables)

12 Months Ended

Mar. 31, 2025

Disclosure of notes and other explanatory information [Abstract]

Credit risk and credit loss allowances for accounts receivable and contract assets by segment

Exposure to credit risk and credit loss allowances for accounts receivable and contract assets by segment are as follows:


As at March 31, 2025		Civil Aviation			Defense and Security			Amounts not allocated to a segment			Total
Gross accounts receivable	$	384.8		$	211.8		$	36.7		$	633.3
Gross contract assets		163.2			357.8			—			521.0
Total	$	548.0		$	569.6		$	36.7		$	1,154.3
Credit loss allowances	$	(19.3)		$	(2.0)		$	—		$	(21.3)
As a %		3.5	%		0.4	%		—	%		1.8	%


As at March 31, 2024		Civil Aviation			Defense and Security			Amounts not allocated to a segment			Total
Gross accounts receivable	$	347.1		$	258.2		$	40.1		$	645.4
Gross contract assets		177.3			401.9			—			579.2
Total	$	524.4		$	660.1		$	40.1		$	1,224.6
Credit loss allowances	$	(19.9)		$	(1.0)		$	—		$	(20.9)
As a %		3.8	%		0.2	%		—	%		1.7	%

Disclosure of how entity manages liquidity risk

The following tables present a maturity analysis based on the contractual maturity date of the Company’s financial liabilities based on expected cash flows. Cash flows from derivatives presented either as derivative assets or liabilities have been included, as the Company manages its derivative contracts on a gross basis. The amounts are the contractual undiscounted cash flows. All amounts contractually denominated in foreign currency are presented in Canadian dollar equivalent amounts using the period-end spot rate except as otherwise stated:


							Between		Between		Between		Between
	Carrying		Contractual		Less than			1 and		2 and		3 and		4 and	More than
As at March 31, 2025	amount		cash flows			1 year		2 years		3 years		4 years		5 years		5 years
Non-derivative financial liabilities
Accounts payable and accrued liabilities (1)	$	914.4	$	914.4	$	914.4	$	—	$	—	$	—	$	—	$	—
Total long-term debt (2)
Long-term debt (other than lease liabilities)		2,678.3		2,678.3		277.9		469.3		140.6		654.5		121.7		1,014.3
Interest and accretion		—		686.2		93.2		74.6		67.5		50.0		34.7		366.2
Lease liabilities		792.1		1,237.2		170.7		98.9		90.3		101.8		69.9		705.6
Other non-current liabilities (3)		91.4		155.2		—		25.0		31.4		28.1		23.9		46.8
	$	4,476.2	$	5,671.3	$	1,456.2	$	667.8	$	329.8	$	834.4	$	250.2	$	2,132.9
Net derivative financial liabilities (assets)

Forward foreign currency contracts (4)	$	38.3
Outflow			$	2,829.3	$	2,481.4	$	305.6	$	39.4	$	2.9	$	—	$	—
Inflow				(2,780.2)		(2,443.3)		(295.4)		(38.5)		(3.0)		—		—
Foreign currency and
interest rate swap agreements		14.4		36.2		1.0		1.7		1.9		31.6		—		—


Equity swap agreements		(13.0)		(13.0)		(13.0)		—		—		—		—		—
	$	39.7	$	72.3	$	26.1	$	11.9	$	2.8	$	31.5	$	—	$	—
	$	4,515.9	$	5,743.6	$	1,482.3	$	679.7	$	332.6	$	865.9	$	250.2	$	2,132.9


							Between		Between		Between		Between
		Carrying	Contractual		Less than			1 and		2 and		3 and		4 and	More than
As at March 31, 2024		amount	cash flows			1 year		2 years		3 years		4 years		5 years		5 years
Non-derivative financial liabilities
Accounts payable and accrued liabilities (1)	$	775.8	$	775.8	$	775.8	$	—	$	—	$	—	$	—	$	—
Total long-term debt (2)
Long-term debt (other than lease liabilities)		2,522.4		2,522.4		253.7		265.0		174.1		164.1		644.1		1,021.4
Interest and accretion		—		743.2		94.1		78.7		70.5		66.2		44.3		389.4
Lease liabilities		551.9		922.0		88.2		75.9		72.1		62.5		53.0		570.3
Other non-current liabilities (3)		87.1		164.7		—		24.8		22.7		28.5		21.9		66.8
	$	3,937.2	$	5,128.1	$	1,211.8	$	444.4	$	339.4	$	321.3	$	763.3	$	2,047.9
Net derivative financial liabilities (assets)

Forward foreign currency contracts (4)	$	9.3
Outflow			$	2,916.5	$	2,522.6	$	302.0	$	69.3	$	20.4	$	2.2	$	—
Inflow				(2,905.7)		(2,514.3)		(299.2)		(68.7)		(21.1)		(2.4)		—
Foreign currency and
interest rate swap agreements		(4.8)		3.9		(2.6)		(0.4)		0.3		0.6		6.0		—


Equity swap agreements		15.8		15.8		15.8		—		—		—		—		—
	$	20.3	$	30.5	$	21.5	$	2.4	$	0.9	$	(0.1)	$	5.8	$	—
	$	3,957.5	$	5,158.6	$	1,233.3	$	446.8	$	340.3	$	321.2	$	769.1	$	2,047.9

(1) Includes trade accounts payable, accrued liabilities, interest payable, current portion of royalty obligations and certain payroll-related liabilities.

(2) Contractual cash flows include contractual interest and principal payments related to debt obligations. Contractual interests on debt obligations with variable interest rate are presented using the period-end rate.

(3) Includes non-current royalty obligations and other non-current liabilities.

(4) Outflows and inflows are presented in Canadian dollar equivalent using the contractual forward foreign currency rate.

Disclosure of foreign currency risks

The forward foreign currency contracts outstanding are as follows:


(amounts in millions, except average rate)				2025				2024
		Notional		Average		Notional		Average
Currencies (sold/bought)		amount	(1)	rate		amount	(1)	rate
USD/CDN
Less than 1 year	$	1,257.8		0.72	$	1,280.2		0.74
Between 1 and 3 years		250.8		0.73		268.9		0.75
Between 3 and 5 years		0.4		0.75		2.6		0.75




EUR/CDN
Less than 1 year		308.1		0.66		340.1		0.68
Between 1 and 3 years		60.7		0.66		71.0		0.67
Between 3 and 5 years		2.4		0.65		19.4		0.65








CDN/USD
Less than 1 year		489.6		1.42		467.9		1.35
Between 1 and 3 years		31.3		1.39		22.5		1.34
Between 3 and 5 years		0.2		1.37		—		—



Other currencies
Less than 1 year		426.4		n.a.		435.1		n.a.
Between 1 and 3 years		1.6		n.a.		8.8		n.a.
Total	$	2,829.3			$	2,916.5

(1) Exchange rates as at the end of the respective periods were used to translate amounts in foreign currencies.

Sensitivity analysis for types of market risk

The sensitivity analysis on pre-tax net income presents the impact of foreign currency denominated financial instruments and adjusts their translation for a 5% strengthening in the relevant foreign currency as at the end of the respective periods. The sensitivity analysis on other comprehensive income (loss) presents the impact of a 5% strengthening in foreign currency rates on the fair value of foreign currency forward contracts designated as cash flow hedges as at the end of the respective periods. This analysis assumes all other variables remain constant.


	USD			EUR
	Net income		OCI	Net income		OCI
As at March 31, 2025		2.1	(10.5)		0.6	(1.1)
As at March 31, 2024		0.6	(15.7)		(1.3)	(1.9)

Disclosure of letters of credit and guarantees


		2025		2024
Advance payments	$	207.2	$	63.6
Contract performance		110.7		100.2
Lease obligations		17.3		19.8
Financial obligations		69.5		58.9
Other		1.5		2.0
	$	406.2	$	244.5