Asbestos (Tables)
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12 Months Ended |
Mar. 31, 2026 |
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| Asbestos [Abstract] |
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| Schedule Of Asbestos Adjustments |
Asbestos adjustments included in the consolidated statements of operations and comprehensive income comprise of the following: | | | | | | | | | | | | | | | | | | | | Years Ended March 31 | | (Millions of US dollars) | 2026 | | 2025 | | 2024 | | Change in actuarial estimate - asbestos liability | $ | 46.7 | | | $ | 139.6 | | | $ | 148.1 | | | Change in actuarial estimate - insurance receivable | 3.0 | | | (2.1) | | | (3.1) | | | Change in estimate - AICF claims-handling costs | 0.8 | | | (0.5) | | | 8.5 | | | Subtotal - Change in estimates | 50.5 | | | 137.0 | | | 153.5 | | | Effect of foreign exchange on Asbestos net liabilities | — | | | — | | | (9.7) | | | Loss on foreign currency forward contracts | — | | | — | | | 7.8 | | | Other | 1.3 | | | 0.6 | | | 0.1 | | | Asbestos adjustments | $ | 51.8 | | | $ | 137.6 | | | $ | 151.7 | |
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| Schedule Of Central Estimates, Net of Insurance Recoveries |
The following table sets forth the central estimates, net of insurance recoveries, calculated by KPMG as of March 31, 2026: | | | | | | | | | | | | | As of March 31, 2026 | | (Millions of US and Australian dollars, respectively) | US$ | | A$ | | Central Estimate – Discounted and Inflated | 924.7 | | | 1,351.1 | | | Central Estimate – Undiscounted but Inflated | 1,264.3 | | | 1,847.3 | | | Central Estimate – Undiscounted and Uninflated | 939.2 | | | 1,372.3 | |
The following summarizes the results of the analysis: | | | | | | | | | | | | | As of March 31, 2026 | | (In millions) | US$ | | A$ | Discounted (but inflated) - Low | 749.1 | | | 1,094.5 | | Discounted (but inflated) - High | 1,364.9 | | | 1,994.3 | | | | | | Undiscounted (but inflated) - Low | 1,005.7 | | | 1,469.4 | | Undiscounted (but inflated) - High | 1,963.1 | | | 2,868.3 | |
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| Schedule of Numbers of Open Claims, New Claims and Closed Claims and Average Settlement Per Settled Claim and Case Closed |
The following table shows the activity related to the number of open claims, new claims and closed claims during each of the past five years and the average settlement per settled claim and case closed: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | For the Years Ended March 31 | | | 2026 | | 2025 | | 2024 | | 2023 | | 2022 | | Number of open claims at beginning of period | 482 | | | 379 | | | 359 | | | 365 | | | 360 | | | Number of new claims | | | | | | | | | | | Direct claims | 348 | | | 443 | | | 410 | | | 403 | | | 411 | | | Cross claims | 150 | | | 210 | | | 154 | | | 152 | | | 144 | | | Number of closed claims | 535 | | | 550 | | | 544 | | | 561 | | | 550 | | | Number of open claims at end of period | 445 | | | 482 | | | 379 | | | 359 | | | 365 | | | Average settlement amount per settled claim | A$307,000 | | A$327,000 | | A$289,000 | | A$303,000 | | A$314,000 | Average settlement amount per case closed 1 | A$257,000 | | A$291,000 | | A$262,000 | | A$271,000 | | A$282,000 | | | | | | | | | | | | Average settlement amount per settled claim | US$203,000 | | US$213,000 | | US$190,000 | | US$208,000 | | US$232,000 | Average settlement amount per case closed 1 | US$170,000 | | US$190,000 | | US$172,000 | | US$186,000 | | US$208,000 | 1 The average settlement amount per case closed includes nil settlements. |
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| Schedule of Net Unfunded AFFA Liability, Net of Tax |
The following is a detailed rollforward of the Net Unfunded AFFA liability, net of tax, for the fiscal year ended March 31, 2026: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | (Millions of US dollars) | Asbestos
Liability | | Insurance
Receivables | | Restricted
Cash and
Investments | | Other
Assets
and
Liabilities | | Net
Unfunded
AFFA
Liability | | Deferred
Tax
Assets | | Income
Tax
Payable | | Net
Unfunded
AFFA
Liability,
net of tax | Opening Balance - March 31, 2025 | $ | (983.6) | | | $ | 28.7 | | | $ | 213.7 | | | $ | 0.7 | | | $ | (740.5) | | | $ | 284.5 | | | $ | 37.9 | | | $ | (418.1) | | | Asbestos claims paid | 105.4 | | | — | | | (105.4) | | | — | | | — | | | — | | | — | | | — | | | Payment received in accordance with AFFA | — | | | — | | | 125.4 | | | — | | | 125.4 | | | — | | | — | | | 125.4 | | | AICF claims-handling costs incurred (paid) | 1.6 | | | — | | | (1.6) | | | — | | | — | | | — | | | — | | | — | | | AICF operating costs paid - non claims-handling | — | | | — | | | (1.9) | | | — | | | (1.9) | | | — | | | — | | | (1.9) | | | Change in actuarial estimate | (46.7) | | | (3.0) | | | — | | | — | | | (49.7) | | | — | | | — | | | (49.7) | | | Change in claims handling cost estimate | (0.8) | | | — | | | — | | | — | | | (0.8) | | | — | | | — | | | (0.8) | | | Impact on deferred income tax due to change in actuarial estimate | — | | | — | | | — | | | — | | | — | | | 15.2 | | | — | | | 15.2 | | | Insurance recoveries | — | | | (3.8) | | | 3.8 | | | — | | | — | | | — | | | — | | | — | | | Movement in income tax payable | — | | | — | | | — | | | — | | | — | | | (38.5) | | | (0.2) | | | (38.7) | | | Other movements | — | | | — | | | 17.6 | | | (0.5) | | | 17.1 | | | (2.9) | | | 0.4 | | | 14.6 | | | Effect of foreign exchange | (84.5) | | | 2.4 | | | 17.1 | | | — | | | (65.0) | | | 24.2 | | | 2.1 | | | (38.7) | | Closing Balance - March 31, 2026 | $ | (1,008.6) | | | $ | 24.3 | | | $ | 268.7 | | | $ | 0.2 | | | $ | (715.4) | | | $ | 282.5 | | | $ | 40.2 | | | $ | (392.7) | |
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| Schedule of Contributions to AICF |
The following are amounts contributed to AICF, excluding interest, during the last three fiscal years: | | | | | | | | | | | | | (In millions) | US$ | | A$ | Fiscal 2026 | 125.4 | | 193.6 | Fiscal 2025 | 99.2 | | 149.6 | Fiscal 2024 | 91.8 | | 137.5 |
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| Schedule of Remaining Time Deposits |
The following table represents the investments outstanding as of March 31, 2026: | | | | | | | | | | | | | | | | | | | | | | Date Invested | | Maturity Date | | Interest Rate | | A$ Millions | | January 2026 | | January 27, 2027 | | 4.78% | | 70.0 | | October 2025 | | October 16, 2026 | | 4.14% | | 70.0 | | July 2025 | | July 24, 2026 | | 4.14% | | 60.0 | | April 2025 | | April 7, 2026 | | 4.16% | | 90.0 |
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