v3.26.1
LEASES
 12 Months Ended
Mar. 31, 2026
Disclosure of leases [Abstract]  
LEASES LEASES
Leases as lessee
Right-of-use assets
   Machinery 
  Buildings and 
and landSimulatorsequipmentAircraftTotal
Net book value as at March 31, 2024$473.9 $51.9 $9.9 $10.1 $545.8 
Additions and remeasurements135.4 — 18.0 — 153.4 
Business combinations (Note 2)
22.4 106.0 — — 128.4 
Depreciation(45.8)(13.3)(5.2)(1.0)(65.3)
Impairment(0.7)— — — (0.7)
Purchase of assets under lease (Note 13)
— — — (9.1)(9.1)
Transfers and others(0.9)— 0.7 — (0.2)
Foreign currency exchange differences29.0 6.5 0.2 — 35.7 
Net book value as at March 31, 2025$613.3 $151.1 $23.6 $— $788.0 
Additions and remeasurements37.4 — — — 37.4 
Depreciation(52.4)(14.4)(6.6)— (73.4)
Transfers and others(7.9)6.1 — — (1.8)
Foreign currency exchange differences(2.5)(3.8)(0.5)— (6.8)
Net book value as at March 31, 2026$587.9 $139.0 $16.5 $— $743.4 
During the year ended March 31, 2026, depreciation of $72.7 million (2025 – $64.0 million) has been recorded in cost of sales and $0.7 million (2025 – $1.3 million) in selling, general and administrative expenses.

Short-term leases, leases of low-value assets and variable lease payments
During the year ended March 31, 2026, expenses of $17.5 million (2025 – $21.0 million) have been recognized in net income relating to short-term leases, leases of low-value assets and variable lease payments not included in the measurement of lease liabilities.

Leases as lessor

Operating Leases
As at March 31, 2026, the net book value of simulators leased under operating leases to third parties was $123.4 million (2025 – $115.9 million).

Undiscounted lease payments to be received under operating leases are as follows:
20262025
Less than 1 year$52.5 $49.1 
Between 1 and 2 years40.4 39.3 
Between 2 and 3 years24.0 30.7 
Between 3 and 4 years14.1 17.0 
Between 4 and 5 years11.5 13.4 
More than 5 years19.7 14.0 
Total undiscounted lease payments receivable$162.2 $163.5 
Finance Leases
Undiscounted lease payments to be received under finance leases are as follows:
20262025
Less than 1 year$29.2 $23.9 
Between 1 and 2 years23.1 21.3 
Between 2 and 3 years19.6 18.2 
Between 3 and 4 years18.3 15.9 
Between 4 and 5 years15.1 16.4 
More than 5 years109.3 118.4 
Total undiscounted lease payments receivable$214.6 $214.1 
Unearned finance income(52.3)(56.3)
Discounted unguaranteed residual values of leased assets(12.4)(15.8)
Total investment in finance leases$149.9 $142.0 
Current portion (Note 10)
21.0 16.0 
Non-current portion (Note 17)
$128.9 $126.0