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Additional Financial Information (Tables)

3 Months Ended

Jun. 30, 2022

Additional Financial Information [Abstract]

Schedule of Cash, Cash Equivalents and Restricted Cash

The following table provides a reconciliation of cash, cash equivalents and restricted cash reported in the unaudited condensed consolidated balance sheet to the total amounts reported in the unaudited condensed consolidated statement of cash flows at June 30, 2022 and March 31, 2022. At June 30, 2022 and March 31, 2022, restricted cash represents amounts related to required cash reserves for interest payments associated with the Production Tax Credit Facility, IP Credit Facility and Backlog Financing Facility.

						June 30, 2022						March 31, 2022
						(Amounts in millions)
Cash and cash equivalents						$	378.5					$	371.2
Restricted cash included in other current assets						15.4						13.4
Restricted cash included in other non-current assets						12.0						—
Total cash, cash equivalents and restricted cash						$	405.9					$	384.6

Schedule of Other Assets

The composition of the Company’s other assets is as follows as of June 30, 2022 and March 31, 2022:

			June 30, 2022						March 31, 2022
			(Amounts in millions)
Other current assets
Prepaid expenses and other			$	102.3					$	102.3
Product inventory			13.9						14.1
Tax credits receivable			106.7						128.3
			$	222.9					$	244.7
Other non-current assets
Prepaid expenses and other			$	31.3					$	19.8
Accounts receivable			48.9						39.0
Tax credits receivable			335.2						316.1
Operating lease right-of-use assets			172.6						170.7
Interest rate swap assets			4.2						32.0
			$	592.2					$	577.6

Summary of Receivables Transferred

The following table sets forth a summary of the receivables transferred under individual agreements or purchases during the three months ended June 30, 2022 and 2021:

									Three Months Ended
									June 30,
															2022						2021
															(Amounts in millions)
Carrying value of receivables transferred and derecognized															$	337.3					$	340.4
Net cash proceeds received															333.7						338.5
Loss recorded related to transfers of receivables															3.6						1.9

The following table sets forth a summary of the receivables transferred under the pooled monetization agreement during the three months ended June 30, 2022 and 2021:

									Three Months Ended
									June 30,
															2022						2021
															(Amounts in millions)
Gross cash proceeds received for receivables transferred and derecognized															$	60.8					$	39.1
Less amounts from collections reinvested under revolving agreement															(24.1)						(29.3)
Proceeds from new transfers															36.7						9.8
Collections not reinvested and remitted or to be remitted															(16.8)						(12.4)
Net cash proceeds received (paid or to be paid)(1)															$	19.9					$	(2.6)
Carrying value of receivables transferred and derecognized (2)															$	59.1					$	39.0
Obligations recorded															$	3.0					$	(0.1)
Loss (gain) recorded related to transfers of receivables															$	1.3					$	(0.2)

___________________

(1)In addition, during the three months ended June 30, 2022, the Company repurchased $20.9 million of receivables previously transferred, as separately agreed upon with the third-party purchasers, in order to monetize such receivables under the individual monetization program discussed above without being subject to the collateral requirements under the pooled monetization program.

(2)Receivables net of unamortized discounts on long-term, non-interest bearing receivables.

Schedule of Accumulated Other Comprehensive Loss

The following table summarizes the changes in the components of accumulated other comprehensive income (loss), net of tax:

			Foreign currency translation adjustments												Net unrealized gain (loss) on cash flow hedges						Total
			(Amounts in millions)
March 31, 2022			$	(19.7)											$	49.0					$	29.3
Other comprehensive income (loss)			(3.0)												36.3						33.3
Reclassifications to net loss(1)			—												12.6						12.6
June 30, 2022			$	(22.7)											$	97.9					$	75.2
March 31, 2021			$	(15.1)											$	(68.2)					$	(83.3)
Other comprehensive income (loss)			0.1												(36.4)						(36.3)
Reclassifications to net loss(1)			—												12.4						12.4
June 30, 2021			$	(15.0)											$	(92.2)					$	(107.2)

___________________

(1)Represents a loss of $0.9 million included in direct operating expense and a loss of $11.7 million included in interest expense on the unaudited condensed consolidated statement of operations in the three months ended June 30, 2022 (three months ended June 30, 2021 - loss of $0.3 million included in direct operating expense and loss of $12.1 million included in interest expense) (see Note 16).

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