Annual and transition report of foreign private issuers pursuant to Section 13 or 15(d)

Leases (Tables)

v3.23.1
Leases (Tables)
 12 Months Ended
Mar. 31, 2023
Leases [Abstract]  
Schedule of ROU Assets and Lease Liabilities
The following table represents the Company's ROU assets and lease liabilities:
31 March
(Millions of US dollars) 2023 2022
Assets:
Operating leases, net $ 59.4  $ 57.8 
Finance leases, net 2.0  2.3 
Total right-of-use assets $ 61.4  $ 60.1 
Liabilities:
Operating leases:
Current $ 18.1  $ 12.5 
Non-Current 61.1  63.1 
Total operating lease liabilities $ 79.2  $ 75.6 
Finance leases:
Current $ 0.8  $ 1.1 
Non-Current 1.4  1.5 
Total finance lease liabilities $ 2.2  $ 2.6 
Total lease liabilities $ 81.4  $ 78.2 
Schedule of Lease Expense
The following table represents the Company's lease expense:
Years Ended 31 March
(Millions of US dollars) 2023 2022 2021
Operating leases $ 20.2  $ 21.6  $ 17.0 
Short-term leases 3.2  1.7  2.1 
Finance leases 1.4  1.0  0.9 
Interest on lease liabilities 0.2  0.1  0.1 
Total lease expense $ 25.0  $ 24.4  $ 20.1 
Supplemental cash flow and other information related to leases were as follows:
Years Ended 31 March
(Millions of US dollars) 2023 2022
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows used for operating leases $ 20.9  $ 23.8 
Operating cash flows used for finance leases 0.2  0.1 
Financing cash flows used for finance leases 1.5  1.0 
Non-cash ROU assets obtained in exchange for new lease liabilities 16.8  31.8 
Non-cash remeasurements increasing ROU assets and lease liabilities 5.7  1.3 
Schedule of Lease Expense
The weighted-average remaining lease term of the Company's leases is as follows:
31 March
(In Years) 2023 2022
Operating leases 7.9 8.0
Finance leases 3.1 3.2

The weighted-average discount rate of the Company's leases is as follows:
31 March
2023 2022
Operating leases 4.6  % 4.3  %
Finance leases 4.3  % 4.1  %
Operating Lease, Future Lease Payments
The following are future lease payments for non-cancellable leases at 31 March 2023:
Years ended 31 March (Millions of US dollars):
 Operating
Leases		 Finance
Leases		 Total
2024 $ 20.2  $ 0.8  $ 21.0 
2025 15.4  0.7  16.1 
2026 11.8  0.5  12.3 
2027 7.4  0.1  7.5 
2028 6.7  —  6.7 
Thereafter 35.9  —  35.9 
Total $ 97.4  $ 2.1  $ 99.5 
Less: imputed interest 18.1 
Total lease liabilities $ 81.4 
Finance Lease, Future Lease Payments
The following are future lease payments for non-cancellable leases at 31 March 2023:
Years ended 31 March (Millions of US dollars):
 Operating
Leases		 Finance
Leases		 Total
2024 $ 20.2  $ 0.8  $ 21.0 
2025 15.4  0.7  16.1 
2026 11.8  0.5  12.3 
2027 7.4  0.1  7.5 
2028 6.7  —  6.7 
Thereafter 35.9  —  35.9 
Total $ 97.4  $ 2.1  $ 99.5 
Less: imputed interest 18.1 
Total lease liabilities $ 81.4