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

Leases (Tables)

v3.22.1
Leases (Tables)
 12 Months Ended
Mar. 31, 2022
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) 2022 2021
Assets:
Operating leases, net $ 57.8  $ 46.4 
Finance leases, net 2.3  2.7 
Total right-of-use assets $ 60.1  $ 49.1 
Liabilities:
Operating leases:
Current $ 12.5  $ 7.8 
Non-Current 63.1  53.3 
Total operating lease liabilities $ 75.6  $ 61.1 
Finance leases:
Current $ 1.1  $ 1.0 
Non-Current 1.5  1.9 
Total finance lease liabilities $ 2.6  $ 2.9 
Total lease liabilities $ 78.2  $ 64.0 
Schedule of Lease Expense
The following table represents the Company's lease expense:
Years Ended 31 March
(Millions of US dollars) 2022 2021 2020
Operating leases $ 21.6  $ 17.0  $ 18.4 
Short-term leases 1.7  2.1  1.0 
Variable leases —  —  0.1 
Finance leases 1.0  0.9  0.3 
Interest on lease liabilities 0.1  0.1  0.1 
Total lease expense $ 24.4  $ 20.1  $ 19.9 
Supplemental cash flow and other information related to leases were as follows:
Years Ended 31 March
(Millions of US dollars) 2022 2021
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows used for operating leases $ 23.8  $ 19.2 
Operating cash flows used for finance leases 0.1  0.1 
Financing cash flows used for finance leases 1.0  0.8 
Non-cash ROU assets obtained in exchange for new lease liabilities 31.8  26.0 
Non-cash remeasurements reducing ROU assets and lease liabilities 1.3  (5.1)
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) 2022 2021
Operating leases 8.0 7.8
Finance leases 3.2 3.5

The weighted-average discount rate of the Company's leases is as follows:
31 March
2022 2021
Operating leases 4.3  % 4.6  %
Finance leases 4.1  % 4.5  %
Operating Lease, Future Lease Payments
The following are future lease payments for non-cancellable leases at 31 March 2022:
Years ended 31 March (Millions of US dollars): Operating
Leases		 Finance
Leases		 Total
2023 $ 14.6  $ 1.1  $ 15.7 
2024 15.7  0.6  16.3 
2025 11.3  0.5  11.8 
2026 9.5  0.3  9.8 
2027 5.7  —  5.7 
Thereafter 37.4  —  37.4 
Total $ 94.2  $ 2.5  $ 96.7 
Less: imputed interest 18.5 
Total lease liabilities $ 78.2 
Finance Lease, Future Lease Payments
The following are future lease payments for non-cancellable leases at 31 March 2022:
Years ended 31 March (Millions of US dollars): Operating
Leases		 Finance
Leases		 Total
2023 $ 14.6  $ 1.1  $ 15.7 
2024 15.7  0.6  16.3 
2025 11.3  0.5  11.8 
2026 9.5  0.3  9.8 
2027 5.7  —  5.7 
Thereafter 37.4  —  37.4 
Total $ 94.2  $ 2.5  $ 96.7 
Less: imputed interest 18.5 
Total lease liabilities $ 78.2