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

Leases (Tables)

v3.21.1
Leases (Tables)
 12 Months Ended
Mar. 31, 2021
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) 2021 2020
Assets:
Operating leases, net $ 46.4  $ 40.5 
Finance leases, net 2.7  1.7 
Total right-of-use assets $ 49.1  $ 42.2 
Liabilities:
Operating leases:
Current $ 7.8  $ 14.3 
Non-Current 53.3  41.4 
Total operating lease liabilities $ 61.1  $ 55.7 
Finance leases:
Current $ 1.0  $ 0.5 
Non-Current 1.9  1.5 
Total finance lease liabilities $ 2.9  $ 2.0 
Total lease liabilities $ 64.0  $ 57.7 
Schedule of Lease Expense
The following table represents the Company's lease expense:
Years Ended 31 March
(Millions of US dollars) 2021 2020
Operating leases $ 17.0  $ 18.4 
Short-term leases 2.1  1.0 
Variable leases —  0.1 
Finance leases 0.9  0.3 
Interest on lease liabilities 0.1  0.1 
Total lease expense $ 20.1  $ 19.9 
Supplemental cash flow and other information related to leases were as follows:
Years Ended 31 March
(Millions of US dollars) 2021 2020
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows used for operating leases $ 19.2  $ 18.0 
Operating cash flows used for finance leases 0.1  0.1 
Financing cash flows used for finance leases 0.8  0.4 
Non-cash ROU assets obtained in exchange for new lease liabilities 26.0  12.9 
Non-cash remeasurements reducing ROU assets and lease liabilities (5.1) (19.4)
Schedule of Weighted-Average Remaining Lease Term and Discount Rate
The weighted-average remaining lease term of the Company's leases is as follows:
31 March
(In Years) 2021 2020
Operating leases 7.8 5.4
Finance leases 3.5 4.4

The weighted-average discount rate of the Company's leases is as follows:
31 March
2021 2020
Operating leases 4.6  % 4.4  %
Finance leases 4.5  % 4.4  %
Operating Lease, Future Lease Payments
The following are future lease payments for non-cancellable leases at 31 March 2021:
Years ended 31 March (Millions of US dollars): Operating
Leases		 Finance
Leases		 Total
2022 $ 9.6  $ 1.0  $ 10.6 
2023 14.3  1.0  15.3 
2024 10.5  0.5  11.0 
2025 7.2  0.3  7.5 
2026 6.1  0.2  6.3 
Thereafter 30.9  —  30.9 
Total $ 78.6  $ 3.0  $ 81.6 
Less: imputed interest 17.6 
Total lease liabilities $ 64.0 
Finance Lease, Future Lease Payments
The following are future lease payments for non-cancellable leases at 31 March 2021:
Years ended 31 March (Millions of US dollars): Operating
Leases		 Finance
Leases		 Total
2022 $ 9.6  $ 1.0  $ 10.6 
2023 14.3  1.0  15.3 
2024 10.5  0.5  11.0 
2025 7.2  0.3  7.5 
2026 6.1  0.2  6.3 
Thereafter 30.9  —  30.9 
Total $ 78.6  $ 3.0  $ 81.6 
Less: imputed interest 17.6 
Total lease liabilities $ 64.0