Annual and transition report of foreign private issuers [Sections 13 or 15(d)]

Leases (Tables)

v3.25.1
Leases (Tables)
 12 Months Ended
Mar. 31, 2025
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) 2025 2024
Assets:
Operating leases, net $ 70.4  $ 60.9 
Finance leases, net 2.7  3.0 
Total right-of-use assets $ 73.1  $ 63.9 
Liabilities:
Operating leases:
Current $ 21.6  $ 19.0 
Non-Current 63.9  59.4 
Total operating lease liabilities $ 85.5  $ 78.4 
Finance leases:
Current $ 1.1  $ 1.2 
Non-Current 1.9  2.1 
Total finance lease liabilities $ 3.0  $ 3.3 
Total lease liabilities $ 88.5  $ 81.7 
Schedule of Lease Expense
The following table represents the Company’s lease expense:
Years Ended 31 March
(Millions of US dollars) 2025 2024 2023
Operating leases $ 25.1  $ 22.3  $ 20.2 
Short-term leases 6.6  4.6  3.2 
Finance leases 1.2  1.1  1.4 
Interest on lease liabilities 0.2  0.2  0.2 
Total lease expense $ 33.1  $ 28.2  $ 25.0 
Supplemental cash flow and other information related to leases were as follows:
Years Ended 31 March
(Millions of US dollars) 2025 2024
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows used for operating leases $ 27.4  $ 24.3 
Operating cash flows used for finance leases 0.2  0.2 
Financing cash flows used for finance leases 1.2  1.1 
Non-cash ROU assets obtained in exchange for new lease liabilities 34.3  26.0 
Non-cash remeasurements decreasing ROU assets and lease liabilities (0.7) (3.6)
Schedule of Lease Expense
The weighted-average remaining lease term of the Company’s leases is as follows:
31 March
(In Years) 2025 2024
Operating leases 6.3 7.1
Finance leases 3.2 3.4

The weighted-average discount rate of the Company’s leases is as follows:
31 March
2025 2024
Operating leases 5.8  % 5.4  %
Finance leases 6.2  % 5.6  %
Operating Lease, Future Lease Payments
The following are future lease payments for non-cancellable leases at 31 March 2025:
Years ended 31 March (Millions of US dollars):
 Operating
Leases		 Finance
Leases		 Total
2026 $ 25.3  $ 1.2  $ 26.5 
2027 19.3  0.8  20.1 
2028 15.9  0.6  16.5 
2029 10.7  0.4  11.1 
2030 6.6  0.1  6.7 
Thereafter 25.2  —  25.2 
Total $ 103.0  $ 3.1  $ 106.1 
Less: imputed interest 17.6 
Total lease liabilities $ 88.5 
Finance Lease, Future Lease Payments
The following are future lease payments for non-cancellable leases at 31 March 2025:
Years ended 31 March (Millions of US dollars):
 Operating
Leases		 Finance
Leases		 Total
2026 $ 25.3  $ 1.2  $ 26.5 
2027 19.3  0.8  20.1 
2028 15.9  0.6  16.5 
2029 10.7  0.4  11.1 
2030 6.6  0.1  6.7 
Thereafter 25.2  —  25.2 
Total $ 103.0  $ 3.1  $ 106.1 
Less: imputed interest 17.6 
Total lease liabilities $ 88.5