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

Leases (Tables)

v3.24.1.1.u2
Leases (Tables)
 12 Months Ended
Mar. 31, 2024
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) 2024 2023
Assets:
Operating leases, net $ 60.9  $ 59.4 
Finance leases, net 3.0  2.0 
Total right-of-use assets $ 63.9  $ 61.4 
Liabilities:
Operating leases:
Current $ 19.0  $ 18.1 
Non-Current 59.4  61.1 
Total operating lease liabilities $ 78.4  $ 79.2 
Finance leases:
Current $ 1.2  $ 0.8 
Non-Current 2.1  1.4 
Total finance lease liabilities $ 3.3  $ 2.2 
Total lease liabilities $ 81.7  $ 81.4 
Schedule of Lease Expense
The following table represents the Company’s lease expense:
Years Ended 31 March
(Millions of US dollars) 2024 2023 2022
Operating leases $ 22.3  $ 20.2  $ 21.6 
Short-term leases 4.6  3.2  1.7 
Finance leases 1.1  1.4  1.0 
Interest on lease liabilities 0.2  0.2  0.1 
Total lease expense $ 28.2  $ 25.0  $ 24.4 
Supplemental cash flow and other information related to leases were as follows:
Years Ended 31 March
(Millions of US dollars) 2024 2023
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows used for operating leases $ 24.3  $ 20.9 
Operating cash flows used for finance leases 0.2  0.2 
Financing cash flows used for finance leases 1.1  1.5 
Non-cash ROU assets obtained in exchange for new lease liabilities 26.0  16.8 
Non-cash remeasurements (decreasing) increasing ROU assets and lease liabilities (3.6) 5.7 
Schedule of Lease Expense
The weighted-average remaining lease term of the Company’s leases is as follows:
31 March
(In Years) 2024 2023
Operating leases 7.1 7.9
Finance leases 3.4 3.1

The weighted-average discount rate of the Company’s leases is as follows:
31 March
2024 2023
Operating leases 5.4  % 4.6  %
Finance leases 5.6  % 4.3  %
Operating Lease, Future Lease Payments
The following are future lease payments for non-cancellable leases at 31 March 2024:
Years ended 31 March (Millions of US dollars):
 Operating
Leases		 Finance
Leases		 Total
2025 $ 21.6  $ 1.3  $ 22.9 
2026 18.1  1.0  19.1 
2027 11.2  0.6  11.8 
2028 8.4  0.4  8.8 
2029 6.4  0.2  6.6 
Thereafter 30.1  —  30.1 
Total $ 95.8  $ 3.5  $ 99.3 
Less: imputed interest 17.6 
Total lease liabilities $ 81.7 
Finance Lease, Future Lease Payments
The following are future lease payments for non-cancellable leases at 31 March 2024:
Years ended 31 March (Millions of US dollars):
 Operating
Leases		 Finance
Leases		 Total
2025 $ 21.6  $ 1.3  $ 22.9 
2026 18.1  1.0  19.1 
2027 11.2  0.6  11.8 
2028 8.4  0.4  8.8 
2029 6.4  0.2  6.6 
Thereafter 30.1  —  30.1 
Total $ 95.8  $ 3.5  $ 99.3 
Less: imputed interest 17.6 
Total lease liabilities $ 81.7