Net contract liabilities are as follows:


		2026		2025
Contract assets - current	$	485.3	$	482.2
Contract assets - non-current (Note 17)		37.3		38.8
Contract liabilities - current		(1,086.9)		(1,001.6)
Contract liabilities - non-current (Note 22)		(144.0)		(126.8)
Net contract liabilities	$	(708.3)	$	(607.4)

During the year ended March 31, 2026, the Company recognized revenue of $802.9 million (2025 – $740.0 million) that was included in the contract liability balance at the beginning of the year.

During the year ended March 31, 2026, the Company recognized an increase in revenue of $11.8 million (2025 – increase of $45.7 million) related to performance obligations partially satisfied in previous years. This primarily related to revisions to estimated costs to complete certain contracts that impacted revenue and measures of completion and changes in transaction price.

As at March 31, 2026, the amount of revenue expected to be realized in future years from performance obligations that are unsatisfied, or partially unsatisfied, was $8,562.4 million. The Company expects to recognize approximately 35% of these remaining performance obligations as revenue by March 31, 2027, an additional 18% by March 31, 2028 and the balance thereafter.