Income Taxes |
3 Months Ended |
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Jun. 30, 2026 | |
| Income Tax Disclosure [Abstract] | |
| 14. INCOME TAXES | 14. INCOME TAXES For the three months ended June 30, 2026, our effective tax rate differs from the Canadian statutory rate primarily due to the full-year forecasted effective tax rate taking into account income taxed at rates that differ from the 25% Canadian rate, including withholding taxes, offset by the availability of tax credits. For the three months ended June 30, 2025, our effective tax rate differs from the Canadian statutory rate primarily due to the full-year forecasted effective tax rate taking into account income taxed at rates that differ from the 25% Canadian rate, including withholding taxes, and changes to the Brazilian real foreign exchange rate, offset by the availability of tax credits and changes in uncertain tax positions. As of June 30, 2026, we had a net deferred tax asset of $101 million. This amount included gross deferred tax assets of approximately $1.5 billion and a valuation allowance of $580 million. It is reasonably possible that our estimates of future taxable income may change within the next twelve months resulting in a change to the valuation allowance in one or more jurisdictions. Tax Uncertainties Tax authorities continue to examine certain other of our tax filings for the fiscal year ended March 31, 2005, and the fiscal years ended March 31, 2013, through March 31, 2020, as well as for calendar years 2015 through 2024. Our reserves for unrecognized tax benefits, as well as reserves for interest and penalties, are expected to decrease in the next 12 months as a result of further settlement of audits, judicial decisions, the filing of amended tax returns, or the expiration of statutes of limitations. With few exceptions, tax returns for all jurisdictions for all tax years before 2005 are no longer subject to examination by taxing authorities. During the three months ended June 30, 2026, certain other estimates associated with uncertain tax positions also changed, none of which had a material impact on our financial statements for any periods presented.
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