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Stock-based compensation (Tables)

12 Months Ended

Mar. 31, 2023

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:

			2023									2022
			Number of options			Weighted average exercise price						Number of options			Weighted average exercise price
						$									$
Outstanding – Beginning of year*			11,823,310			36.36						6,796,039			24.56
Granted**			2,817,149			19.93						7,920,684			49.47
Exercised			(942,641)			5.00						(1,061,359)			16.48
Forfeited/Cancelled			(3,637,522)			47.76						(1,832,054)			47.84
Outstanding – End of fiscal year			10,060,296			30.58						11,823,310			38.37
Exercisable – End of fiscal year			3,771,711			31.24						2,600,818			23.05

*The 2023 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 year's weighted average exercise prices.
**Included in the stock options granted in the fiscal year ended March 31, 2022 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, 2023 are summarized as follows:

			2023									2023									2023
			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			3,314,131			46.71						34,421			37.95						953,290			28.73
Granted			4,397,629			20.77						47,577			18.72						—			—
Settled			(956,837)			41.58						(16,600)			40.50						(333,650)			28.73
Forfeited			(1,214,156)			37.97						—			—						—			—
Outstanding – End of year			5,540,767			28.92						65,398			23.31						619,640			28.73

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
Settled			(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

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:

			2023			2022
Expected volatility			52.22		%	47.25		%
Risk-free interest rate			3.05		%	1.04		%
Expected option life			3.92 years			4.07 years
Expected dividend yield			0		%	0		%
Forfeiture rate			26.55		%	27.07		%

The fair value of stock options granted in the fiscal year ended March 31, 2022 to certain executives 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, 2023:

			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
$									$												$
2.17 to 18.92			1,930,537			5.09			12.19						719,850			2.21			5.80
18.93 to 22.62			1,886,776			5.61			21.49						384,078			4.24			21.79
22.63 to 27.73			2,268,067			4.46			23.99						1,409,502			3.77			24.27
27.74 to 41.54			1,896,698			5.51			31.49						291,923			3.79			31.80
41.55 to 93.45			2,078,218			5.42			62.27						966,358			5.38			63.92
Total			10,060,296			5.19			30.58						3,771,711			3.94			31.24

The following table summarizes information with respect to stock options outstanding 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

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, 2023:

			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
$									$												$
2.17 to 18.92			1,930,537			5.09			12.19						719,850			2.21			5.80
18.93 to 22.62			1,886,776			5.61			21.49						384,078			4.24			21.79
22.63 to 27.73			2,268,067			4.46			23.99						1,409,502			3.77			24.27
27.74 to 41.54			1,896,698			5.51			31.49						291,923			3.79			31.80
41.55 to 93.45			2,078,218			5.42			62.27						966,358			5.38			63.92
Total			10,060,296			5.19			30.58						3,771,711			3.94			31.24

The following table summarizes information with respect to stock options outstanding 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

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