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Stock-based compensation (Tables)

12 Months Ended

Mar. 31, 2022

Disclosure Of Share Based Payment Arrangements [Abstract]

Stock option activity and the weighted average exercise price

The stock option activity and the weighted average exercise price are summarized as follows:

			2022									2021
			Number of options			Weighted average exercise price						Number of options			Weighted average exercise price
						$									$
Outstanding – Beginning of year*			6,796,039			24.56						7,557,574			15.38
Granted**			7,920,684			49.47						2,183,108			41.55
Assumed through business combination			—			—						1,226,214			6.40
Exercised			(1,061,359)			16.48						(2,951,034)			7.12
Forfeited			(1,832,054)			47.84						(1,219,823)			22.48
Outstanding – End of fiscal year			11,823,310			38.37						6,796,039			24.48
Exercisable – End of fiscal year			2,600,818			23.05						1,523,685			17.40

*the 2022 beginning of year weighted average exercise price was adjusted from the prior year closing weighted average exercise price to account for the CAD to USD foreign exchange rate used when calculating the current fiscal years weighted average exercise prices.
**Included in the stock options granted in the year were 2,500,000 stock options with vesting dependent on market conditions tied to the Company's future share price performance.

The RSU, DSU and PSU activity and the weighted average grant date fair values

The RSU, DSU and PSU activity and the weighted average grant date fair values as at March 31, 2022 are summarized as follows:

			2022									2022									2022
			RSU									DSU									PSU
			Number of awards			Weighted average grant date fair value						Number of awards			Weighted average grant date fair value						Number of awards			Weighted average grant date fair value
						$									$									$
Outstanding – Beginning of year			939,833			44.93						14,751			26.68						75,182			24.90
Granted			3,016,792			48.89						20,227			47.14						953,290			28.73
Released			(219,208)			52.19						(557)			73.39						(51,094)			24.97
Forfeited			(423,286)			55.50						—			—						(24,088)			24.75
Outstanding – End of year			3,314,131			46.71						34,421			37.95						953,290			28.73

The RSU, DSU and PSU activity and the weighted average grant date fair values as at March 31, 2021 are summarized as follows:

			2021									2021									2021
			RSU									DSU									PSU
			Number of awards			Weighted average grant date fair value						Number of awards			Weighted average grant date fair value						Number of awards			Weighted average grant date fair value
						$									$									$
Outstanding – Beginning of year			117,769			24.67						7,109			25.66						84,326			24.75
Granted			989,384			45.73						7,642			27.64						66,038			25.09
Released			(36,515)			32.17						—			—						(51,094)			24.97
Forfeited			(130,805)			36.30						—			—						(24,088)			24.75
Outstanding – End of year			939,833			44.93						14,751			26.68						75,182			24.90

Weighted average assumptions

The fair value of stock options granted to employees, excluding stock options that contain market conditions, was estimated at the dates of grant using the Black-Scholes option-pricing model with the following weighted average assumptions:

			2022			2021
Expected volatility			47.25		%	45.55		%
Risk-free interest rate			1.04		%	0.38		%
Expected option life			4.07 years			4.27 years
Expected dividend yield			0		%	0		%
Forfeiture rate			27.07		%	28.51		%

The fair value of stock options granted to employees with vesting dependent on market conditions tied to the Company's future share price performance is measured using the Monte Carlo pricing model to estimate the Company's potential future share price. This model leverages assumptions that the expected volatility of the share price is 41% and the expected option life is 7 years.

Range of exercise prices of outstanding share options

The following table summarizes information with respect to stock options outstanding and stock options exercisable as at March 31, 2022:

			Options outstanding												Options exercisable
Exercise price			Number of options			Weighted average remaining contractual life (years)			Weighted average exercise price						Number of options			Weighted average remaining contractual life (years)			Weighted average exercise price
$									$												$
0.30 to 21.90			2,735,944			4.82			11.60						1,017,325			3.28			5.02
21.91 to 27.52			2,137,518			5.67			24.29						796,323			5.12			24.90
27.53 to 33.19			2,238,268			6.34			30.75						302,339			4.94			28.71
33.20 to 65.89			1,855,419			6.25			45.76						286,652			5.07			38.86
65.90 to 94.03			2,856,161			6.22			75.73						198,179			6.14			76.67
Total			11,823,310			5.82			38.37						2,600,818			4.45			23.05

The following table summarizes information with respect to stock options outstanding stock options exercisable as at March 31, 2021:

			Options outstanding												Options exercisable
Exercise price			Number of options			Weighted average remaining contractual life (years)			Weighted average exercise price						Number of options			Weighted average remaining contractual life (years)			Weighted average exercise price
$									$												$
0.30 to 4.86			1,551,131			4.51			3.95						419,063			3.94			3.09
4.87 to 24.52			1,334,262			5.35			14.22						472,154			5.36			14.77
24.53 to 26.73			1,424,350			5.92			25.82						308,005			5.83			25.53
26.74 to 33.52			1,308,231			5.95			29.54						179,099			5.87			28.73
33.53 to 72.94			1,178,065			6.30			55.88						145,364			5.47			35.96
Total			6,796,039			5.56			24.48						1,523,685			5.13			17.40

Stock options outstanding and stock options exercisable

The following table summarizes information with respect to stock options outstanding and stock options exercisable as at March 31, 2022:

			Options outstanding												Options exercisable
Exercise price			Number of options			Weighted average remaining contractual life (years)			Weighted average exercise price						Number of options			Weighted average remaining contractual life (years)			Weighted average exercise price
$									$												$
0.30 to 21.90			2,735,944			4.82			11.60						1,017,325			3.28			5.02
21.91 to 27.52			2,137,518			5.67			24.29						796,323			5.12			24.90
27.53 to 33.19			2,238,268			6.34			30.75						302,339			4.94			28.71
33.20 to 65.89			1,855,419			6.25			45.76						286,652			5.07			38.86
65.90 to 94.03			2,856,161			6.22			75.73						198,179			6.14			76.67
Total			11,823,310			5.82			38.37						2,600,818			4.45			23.05

The following table summarizes information with respect to stock options outstanding stock options exercisable as at March 31, 2021:

			Options outstanding												Options exercisable
Exercise price			Number of options			Weighted average remaining contractual life (years)			Weighted average exercise price						Number of options			Weighted average remaining contractual life (years)			Weighted average exercise price
$									$												$
0.30 to 4.86			1,551,131			4.51			3.95						419,063			3.94			3.09
4.87 to 24.52			1,334,262			5.35			14.22						472,154			5.36			14.77
24.53 to 26.73			1,424,350			5.92			25.82						308,005			5.83			25.53
26.74 to 33.52			1,308,231			5.95			29.54						179,099			5.87			28.73
33.53 to 72.94			1,178,065			6.30			55.88						145,364			5.47			35.96
Total			6,796,039			5.56			24.48						1,523,685			5.13			17.40

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