Document and Entity Information
Document and Entity Information | 12 Months Ended |
Sep. 30, 2020shares | |
Entity Information [Line Items] | |
Entity Registrant Name | CGI Inc |
Entity Central Index Key | 0001061574 |
Current Fiscal Year End Date | --09-30 |
Document Type | 40-F |
Document Period End Date | Sep. 30, 2020 |
Document Fiscal Year Focus | 2020 |
Document Fiscal Period Focus | FY |
Amendment Flag | false |
Emerging Growth Company | false |
Entity Current Reporting Status | Yes |
Entity Interactive Data Current | Yes |
Class A subordinate voting shares | |
Entity Information [Line Items] | |
Entity Common Stock, Shares Outstanding | 230,690,875 |
Class B multiple voting shares | |
Entity Information [Line Items] | |
Entity Common Stock, Shares Outstanding | 28,945,706 |
Consolidated Statements of Earn
Consolidated Statements of Earnings - CAD ($) | 12 Months Ended | |
Sep. 30, 2020 | Sep. 30, 2019 | |
Profit or loss [abstract] | ||
Revenue | $ 12,164,115,000 | $ 12,111,236,000 |
Operating expenses | ||
Costs of services, selling and administrative | 10,302,068,000 | 10,284,007,000 |
Acquisition-related and integration costs | 76,794,000 | 77,417,000 |
Restructuring costs | 155,411,000 | 0 |
Net finance costs | 114,474,000 | 70,630,000 |
Foreign exchange (gain) loss | (899,000) | 2,234,000 |
Operating expenses | 10,647,848,000 | 10,434,288,000 |
Earnings before income taxes | 1,516,267,000 | 1,676,948,000 |
Income tax expense | 398,405,000 | 413,741,000 |
Net earnings | $ 1,117,862,000 | $ 1,263,207,000 |
Earnings per share | ||
Basic earnings per share (CAD per share) | $ 4.27 | $ 4.63 |
Diluted earnings per share (CAD per share) | $ 4.20 | $ 4.55 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income - CAD ($) $ in Thousands | 12 Months Ended | |
Sep. 30, 2020 | Sep. 30, 2019 | |
Statement of comprehensive income [abstract] | ||
Net earnings | $ 1,117,862 | $ 1,263,207 |
Items that will be reclassified subsequently to net earnings (net of income taxes): | ||
Net unrealized gains (losses) on translating financial statements of foreign operations | 406,445 | (162,657) |
Net gains on cross-currency swaps and on translating long-term debt designated as hedges of net investments in foreign operations | 8,914 | 53,024 |
Deferred gains (costs) of hedging on cross-currency swaps | 18,144 | (4,091) |
Net unrealized (losses) gains on cash flow hedges | (30,091) | 50,943 |
Other comprehensive income, net of tax, financial assets measured at fair value through other comprehensive income | 2,854 | 4,102 |
Items that will not be reclassified subsequently to net earnings (net of income taxes): | ||
Net remeasurement (losses) gains on defined benefit plans | (37,250) | 33,777 |
Other comprehensive income (loss) | 369,016 | (24,902) |
Comprehensive income | $ 1,486,878 | $ 1,238,305 |
Consolidated Balance Sheets
Consolidated Balance Sheets - CAD ($) $ in Thousands | Sep. 30, 2020 | Sep. 30, 2019 |
Current assets | ||
Cash and cash equivalents | $ 1,707,985 | $ 213,831 |
Accounts receivable | 1,219,302 | 1,357,090 |
Work in progress | 1,075,252 | 1,096,031 |
Current financial assets | 18,500 | 39,931 |
Prepaid expenses and other current assets | 160,406 | 172,182 |
Income taxes | 29,363 | 10,206 |
Total current assets before funds held for clients | 4,210,808 | 2,889,271 |
Funds held for clients | 725,178 | 368,112 |
Total current assets | 4,935,986 | 3,257,383 |
Property, plant and equipment | 372,946 | 397,661 |
Right-of-use assets | 666,865 | 0 |
Contract costs | 239,376 | 222,965 |
Intangible assets | 521,462 | 517,982 |
Other long-term assets | 163,739 | 180,480 |
Long-term financial assets | 156,569 | 176,899 |
Deferred tax assets | 113,484 | 100,539 |
Goodwill | 8,379,931 | 7,767,837 |
Total assets | 15,550,358 | 12,621,746 |
Current liabilities | ||
Accounts payable and accrued liabilities | 1,025,963 | 1,108,895 |
Accrued compensation | 672,775 | 642,897 |
Current derivative financial instruments | 8,328 | 4,902 |
Deferred revenue | 426,393 | 397,370 |
Income taxes | 136,928 | 176,243 |
Provisions | 175,632 | 73,509 |
Current portion of long-term debt | 310,764 | 113,511 |
Current portion of lease liabilities | 178,720 | 0 |
Total current liabilities before clients’ funds obligations | 2,935,503 | 2,517,327 |
Clients’ funds obligations | 720,322 | 366,796 |
Total current liabilities | 3,655,825 | 2,884,123 |
Long-term income taxes | 6,720 | 7,690 |
Long-term provisions | 23,888 | 24,946 |
Long-term debt | 3,276,331 | 2,217,696 |
Long-term lease liabilities | 697,650 | 0 |
Other long-term liabilities | 185,374 | 213,392 |
Long-term derivative financial instruments | 56,622 | 18,322 |
Deferred tax liabilities | 158,341 | 178,265 |
Retirement benefits obligations | 225,447 | 193,209 |
Total liabilities | 8,286,198 | 5,737,643 |
Equity | ||
Retained earnings | 4,703,642 | 4,557,855 |
Accumulated other comprehensive income | 545,710 | 176,694 |
Capital stock | 1,761,873 | 1,903,977 |
Contributed surplus | 252,935 | 245,577 |
Total equity | 7,264,160 | 6,884,103 |
Total equity and liabilities | $ 15,550,358 | $ 12,621,746 |
Consolidated Statements of Chan
Consolidated Statements of Changes in Equity - CAD ($) $ in Thousands | Total | Retained earnings | Accumulated other comprehensive income | Capital stock | Contributed surplus |
Beginning balance at Sep. 30, 2018 | $ 6,684,807 | $ 4,251,424 | $ 201,596 | $ 2,018,592 | $ 213,195 |
Net earnings | 1,263,207 | 1,263,207 | |||
Other comprehensive income (loss) | (24,902) | (24,902) | |||
Comprehensive income (loss) | 1,238,305 | 1,263,207 | (24,902) | ||
Share-based payment costs | 39,440 | 39,440 | |||
Income tax impact associated with stock options | 14,663 | 14,663 | |||
Exercise of stock options | 63,703 | 77,773 | (14,070) | ||
Exercise of performance share units | 0 | 7,651 | (7,651) | ||
Purchase for cancellation of Class A subordinate voting shares | (1,126,075) | (956,776) | (169,299) | ||
Purchase of Class A subordinate voting shares held in trusts | (30,740) | (30,740) | |||
Ending balance (Previously stated) at Sep. 30, 2019 | 6,884,103 | 4,557,855 | 176,694 | 1,903,977 | 245,577 |
Ending balance at Sep. 30, 2019 | 6,884,103 | 4,557,855 | 176,694 | 1,903,977 | 245,577 |
Net earnings | 1,117,862 | 1,117,862 | |||
Other comprehensive income (loss) | 369,016 | 369,016 | |||
Comprehensive income (loss) | 1,486,878 | 1,117,862 | 369,016 | ||
Share-based payment costs | 37,358 | 37,358 | |||
Income tax impact associated with stock options | (8,653) | (8,653) | |||
Exercise of stock options | 57,151 | 69,420 | (12,269) | ||
Exercise of performance share units | 0 | 9,078 | (9,078) | ||
Purchase for cancellation of Class A subordinate voting shares | (1,043,517) | (878,202) | (165,315) | ||
Purchase of Class A subordinate voting shares held in trusts | (55,287) | (55,287) | |||
Ending balance at Sep. 30, 2020 | $ 7,264,160 | $ 4,703,642 | $ 545,710 | $ 1,761,873 | $ 252,935 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - CAD ($) $ in Thousands | 12 Months Ended | |
Sep. 30, 2020 | Sep. 30, 2019 | |
Operating activities | ||
Net earnings | $ 1,117,862 | $ 1,263,207 |
Adjustments for: | ||
Amortization, depreciation and impairment | 565,692 | 392,301 |
Deferred income tax expense (recovery) | 6,170 | (8,297) |
Foreign exchange (gain) loss | (7,956) | 3,519 |
Share-based payment costs | 37,358 | 39,440 |
Loss on sale of business | (1,266) | 0 |
Net change in non-cash working capital items | 218,164 | (56,251) |
Cash provided by operating activities | 1,938,556 | 1,633,919 |
Investing activities | ||
Net change in short-term investments | 8,414 | (9,889) |
Business acquisitions (considering the bank overdraft assumed and cash acquired) | (269,585) | (480,366) |
Investment in Acando AB | 0 | (140,248) |
Proceeds from sale of business | 2,647 | 600 |
Purchase of property, plant and equipment | (128,478) | (162,061) |
Additions to contract costs | (72,845) | (60,191) |
Additions to intangible assets | (114,112) | (105,976) |
Purchase of long-term investments | (10,594) | (523) |
Proceeds from sale of long-term investments | 12,100 | 7,845 |
Cash used in investing activities | (572,453) | (950,809) |
Financing activities | ||
Net change in unsecured committed revolving credit facility | (334,370) | 139,575 |
Increase of long-term debt | 1,807,167 | 686,810 |
Repayment of long-term debt | (106,496) | (355,406) |
Payment of lease liabilities | (175,320) | 0 |
Repayment of debt assumed in business acquisitions | (28,281) | (2,141) |
Payment for remaining shares of Acando | (23,123) | 0 |
Settlement of derivative financial instruments | (3,903) | (554) |
Purchase of Class A subordinate voting shares held in trusts | (55,287) | (30,740) |
Purchase and cancellation of Class A subordinate voting shares | (1,043,517) | (1,130,255) |
Issuance of Class A subordinate voting shares | 57,302 | 63,602 |
Cash provided by (used in) financing activities | 94,172 | (629,109) |
Effect of foreign exchange rate changes on cash and cash equivalents | 33,879 | (24,261) |
Net increase in cash and cash equivalents | 1,494,154 | 29,740 |
Cash and cash equivalents, beginning of year | 213,831 | 184,091 |
Cash and cash equivalents, end of year | $ 1,707,985 | $ 213,831 |
Description of business
Description of business | 12 Months Ended |
Sep. 30, 2020 | |
Corporate Information And Statement Of IFRS Compliance [Abstract] | |
Description of business | Description of business CGI Inc. (the Company), directly or through its subsidiaries, provides managed information technology (IT) and business process services (BPS), systems integration and consulting, as well as the sale of software solutions to help clients effectively realize their strategies and create added value. The Company was incorporated under Part IA of the Companies Act (Québec), predecessor to the Business Corporations Act (Québec) which came into force on February 14, 2011 and its Class A subordinate voting shares are publicly traded. The executive and registered office of the Company is situated at 1350 René-Lévesque Blvd. West, Montréal, Québec, Canada, H3G 1T4. |
Basis of preparation
Basis of preparation | 12 Months Ended |
Sep. 30, 2020 | |
Corporate Information And Statement Of IFRS Compliance [Abstract] | |
Basis of preparation | Basis of preparation These consolidated financial statements have been prepared in accordance with International Financial Reporting Standards (IFRS) as issued by the International Accounting Standards Board (IASB). The Company’s consolidated financial statements for the years ended September 30, 2020 and 2019 were authorized for issue by the Board of Directors on November 10, 2020 . |
Summary of significant accounti
Summary of significant accounting policies | 12 Months Ended |
Sep. 30, 2020 | |
Corporate Information And Statement Of IFRS Compliance [Abstract] | |
Summary of significant accounting policies | Summary of significant accounting policies BASIS OF CONSOLIDATION The consolidated financial statements include the accounts of the Company and its subsidiaries. All intercompany transactions and balances have been eliminated on consolidation. Subsidiaries are entities controlled by the Company. The Company controls an entity when it is exposed or has right to variable returns from its involvement with the entity and has the ability to affect those returns through its power over the relevant activities of the entity. Subsidiaries are fully consolidated from the date of acquisition and continue to be consolidated until the date control over the subsidiaries ceases. BASIS OF MEASUREMENT The consolidated financial statements have been prepared on a historical cost basis, except for certain financial assets and liabilities, which have been measured at fair value as described below. USE OF JUDGEMENTS AND ESTIMATES The preparation of the consolidated financial statements requires management to make judgements and estimates that affect the reported amounts of assets, liabilities, equity and the accompanying disclosures at the date of the consolidated financial statements and the reported amounts of revenue and expenses during the reporting period. Because the use of judgements and estimates is inherent in the financial reporting process, actual results could differ. Significant judgements and estimates about the future and other major sources of estimation uncertainty at the end of the reporting period could have a significant risk of causing a material adjustment to the carrying amounts of the following within the next financial year: revenue recognition, deferred tax assets, estimated losses on revenue-generating contracts, goodwill impairment, right-of-use assets, business combinations, provisions for uncertain tax treatments and litigation and claims. The judgements, apart from those involving estimations, that have the most significant effect on the amounts recognized in the consolidated financial statements are: Revenue recognition of multiple deliverable arrangements Assessing whether the deliverables within an arrangement are separate performance obligations requires judgement by management. A deliverable is identified as a separate performance obligation if the customer benefits from it on its own or together with resources that are readily available to the customer and if it is separately identifiable from the other deliverables in the contract. The Company assesses if the deliverables are separately identifiable in the context of the contract by determining if it is highly interrelated with other deliverables in the contract. If these criteria are not met, the deliverables are accounted for as a combined performance obligation. 3. Summary of significant accounting policies (continued) USE OF JUDGEMENTS AND ESTIMATES (CONTINUED) Deferred tax assets Deferred tax assets are recognized for unused tax losses to the extent that it is probable that taxable income will be available against which the losses can be utilized. Management judgement is required concerning uncertainties that exist with respect to the timing of future taxable income required to recognize a deferred tax asset. The Company recognizes an income tax benefit only when it is probable that the tax benefit will be realized in the future. In making this judgement, the Company assesses forecasts and the availability of future tax planning strategies. A description of estimates is included in the respective sections within the Notes to the Consolidated Financial Statements. COVID-19 pandemic For the year ended September 30, 2020, the Company assessed the impact of the uncertainties around the outbreak of the novel strain of the coronavirus, specifically identified as COVID-19 pandemic, on its balance sheet carrying amounts. This review required the use of judgements and estimates and resulted in no material impacts outside of the restructuring costs, refer to Note 25. The future impact of COVID-19 uncertainties could generate, in future reporting periods, a significant risk of material adjustments to the following: revenue recognition, deferred tax assets, estimated losses on revenue-generating contracts, impairment of PP&E, right-of-use assets, intangible assets and goodwill and litigation and claims. REVENUE RECOGNITION, WORK IN PROGRESS AND DEFERRED REVENUE The Company generates revenue through the provision of managed IT and BPS, systems integration and consulting, as well as the sale of software solutions as described in Note 1, Description of business. The Company provides services and products under arrangements that contain various pricing mechanisms. The Company accounts for a contract or a group of contracts when the following criteria are met: the parties to the contract have approved the contract in which their rights, their obligations and the payment terms have been identified, the contract has commercial substance, and the collectability of the consideration is probable. A contract modification is a change in the scope or price of an existing revenue-generating customer contract. The Company accounts for a contract modification as a separate contract when the scope of the contract increases because of the addition of promised performance obligations and the price of the contract increases by an amount of consideration that reflects its stand-alone selling prices. When the contract is not accounted for as a separate contract, the Company recognizes an adjustment to revenue on the existing contract on a cumulative catch-up basis as at the date of the contract modification or, if the remaining goods and services are distinct, the Company recognizes the remaining consideration prospectively. Revenue is recognized when or as the Company satisfies a performance obligation by transferring a promise of good or service to the customer and are measured at the amount of consideration the Company expects to be entitled to receive, including variable consideration, such as, discounts, volume rebates, service-level penalties, and incentives. Variable consideration is estimated using either the expected value method or most likely amount method and is included only to the extent it is highly probable that a significant reversal of cumulative revenue recognized will not occur. In making this judgement, management will mostly consider all information available at the time (historical, current and forecasted), the Company’s knowledge of the client or the industry, the type of services to be delivered and the specific contractual terms of each arrangement. Revenue from sales of third party vendor's products, such as software licenses, hardware or services is recorded on a gross basis when the Company is a principal to the transaction and is recorded net of costs when the Company is acting as an agent between the client and vendor. To determine whether the Company is a principal or an agent, it evaluates whether control is obtained of the goods or services before they are transferred to the client. Factors generally considered include whether the Company has the primary responsibility for providing the product or service, adds meaningful value to the vendor’s product or service and has discretion establishing the price. 3. Summary of significant accounting policies (continued) REVENUE RECOGNITION, WORK IN PROGRESS AND DEFERRED REVENUE (CONTINUED) Relative stand-alone selling price The Company’s arrangements often include a mix of the services and products as described below. If an arrangement involves the provision of multiple performance obligations, the total arrangement value is allocated to each performance obligations based on its relative stand-alone selling price. When estimating the stand-alone selling price of each performance obligations, the Company maximizes the use of observable prices which are established using the Company’s prices for same or similar deliverables. When observable prices are not available, the Company estimates stand-alone selling prices based on its best estimate. The best estimate of the stand-alone selling price is the price at which the Company would normally expect to offer the services or products and is established by considering a number of internal and external factors including, but not limited to, geographies, the Company’s pricing policies, internal costs and margins. Additionally, in certain circumstances, the Company may apply the residual approach when estimating the stand-alone price of software license products, for which the Company has not yet established the price or has not previously sold on a stand-alone basis. The appropriate revenue recognition method is applied for each performance obligation as described below. Managed IT and business process services Revenue from managed IT and business process services arrangements is generally recognized over time as the services are provided at the contractual billings, which corresponds with the value provided to the client, unless there is a better measure of performance or delivery. Systems integration and consulting services Revenue from systems integration and consulting services under time and material arrangements is recognized over time as the services are rendered, and revenue under cost-based arrangements is recognized over time as reimbursable costs are incurred. Contractual billings of such arrangements correspond with the value provided to the client, and therefore revenues are generally recognized when amounts become billable. Revenue from systems integration and consulting services under fixed-fee arrangements is recognized using the percentage-of-completion method over time, as the Company has no alternative use for the asset created and has an enforceable right to payment for performance completed to date. The Company primarily uses labour costs or labour hours to measure the progress towards completion. This method relies on estimates of total expected labour costs or total expected labour hours to complete the service, which are compared to labour costs or labour hours incurred to date, to arrive at an estimate of the percentage of revenue earned to date. Factors considered in the estimates include: changes in scope of the contracts, delays in reaching milestones, complexities in project delivery, availability and retention of qualified IT professionals and/or the ability of the subcontractors to perform their obligation within agreed upon budget and timeframes. Management regularly reviews underlying estimates of total expected labour costs or hours. Software licenses Most of the Company’s software license arrangements include other services such as implementation, customization and maintenance. For these types of arrangements, revenue from a software license, when identified as a performance obligation, is recognized at a point in time upon delivery. Otherwise when the software is significantly customized, integrated or modified, it is combined with the implementation and customization services and is accounted for as described in the systems integration and consulting services section above. Revenue from maintenance services for software licenses sold is recognized straight-line over the term of the maintenance period. Work in progress and deferred revenue Amounts recognized as revenue in excess of billings are classified as work in progress. Amounts received in advance of the performance of services or delivery of products are classified as deferred revenue. Work in progress and deferred revenue are presented net on a contract by-contract basis. During the year ended September, 30 2020, the revenues recognized from the short-term deferred revenue was not significantly different than what was presented as at September, 30 2019. CASH AND CASH EQUIVALENTS Cash and cash equivalents consist of unrestricted cash and short-term investments having a maturity of three months or less from the date of purchase. 3. Summary of significant accounting policies (continued) SHORT-TERM INVESTMENTS Short-term investments, comprise generally of term deposits, have remaining maturities over three months, but not more than one year, at the date of purchase. FUNDS HELD FOR CLIENTS AND CLIENTS’ FUNDS OBLIGATIONS In connection with the Company’s payroll, tax filing and claims services, the Company collects funds for payment of payroll, taxes and claims, temporarily holds such funds until payment is due, remits the funds to the clients’ employees, appropriate tax authorities or claims holders, files tax returns and handles related regulatory correspondence and amendments. The funds held for clients include cash and long-term bonds. The Company presents the funds held for clients and related obligations separately. Funds held for clients are classified as current assets since, based upon management’s intentions, these funds are held solely for the purpose of satisfying the clients’ funds obligations, which will be repaid within one year of the consolidated balance sheet date. The market fluctuations affect the fair value of the long-term bonds. Due to those fluctuations, funds held for clients might not equal to the clients' funds obligations. Interest income earned and realized gains and losses on the disposal of bonds are recorded in revenue in the period that the income is earned, as the collecting, holding and remitting of these funds are critical components of providing these services. PROPERTY, PLANT AND EQUIPMENT Property, plant and equipment (PP&E), are recorded at cost and are depreciated over their estimated useful lives using the straight-line method. Buildings 10 to 40 years Leasehold improvements Lesser of the useful life or lease term Furniture, fixtures and equipment 3 to 20 years Computer equipment 3 to 5 years LEASES For the fiscal year ended September 30, 2020, under IFRS 16, Leases When the Company enters into contractual agreements with suppliers or other parties, an assessment is performed to determine if the contract contains a lease. The Company identified lease agreements under the following categories: Properties, Motor vehicules and others as well as Computer equipment. The Company identifies a lease if it conveys the right to control the use of an identified asset for a specific period in exchange for a determined consideration. At inception, a right-of-use asset for the underlying asset and corresponding lease liability are presented in the consolidated balance sheet measured on a present value basis except for short-term leases (expected term of 12 months or less) and leases with low value underlying asset for which payments are recorded as an expense on a straight-line basis over the lease term. The right-of-use assets are measured at initial lease liabilities adjusted by lease payments made before the commencement date, indirect costs and cash incentives received. The right-of-use assets are depreciated on a straight-line basis over the expected lease term of the underlying asset. Lease liabilities are measured at present value of non-cancellable payments of the expected lease term, which are mostly made of fixed payments of rent excluding maintenance fees; variable payments that are based on an index or a rate; amounts expected to be payable as residual value guaranties and extension or termination option if reasonably certain to be exercised. The Company estimates the lease term in order to calculate the value of the lease liability at the initial date of the lease. Management uses judgement to determine the appropriate lease term based on the conditions of each lease. To determine the lease term, the Company considers all factors that create economic incentives to exercise an extension or a termination option. The extension or termination options are only included in the lease term if it is reasonably certain of being exercised. Management considers all facts that create incentive to exercise an extension option or not to take a termination option including leasehold improvements, significant modification of the underlying asset or a business decision. 3. Summary of significant accounting policies (continued) LEASES (CONTINUED) Discount rate used in the present value calculation is the incremental borrowing rate unless the implicit interest rate in the lease can be readily determined. The Company estimates the incremental borrowing rate for each lease or portfolio of leased assets, as most of the implicit interest rates in the leases are not readily determinable. To calculate the incremental borrowing rate, the Company considers its credit worthiness, the term of the arrangement, any collateral received and the economic environment. The incremental borrowing rates are subject to change mainly due to changes in the economic environment. The lease liabilities are subsequently adjusted to reflect interest on the lease liabilities and lease payments made. Lease liabilities are remeasured (along with the corresponding adjustment to the right-of-use asset), whenever the following situations occur; a modification in the lease term, a change in the assessment of an option to purchase, a modification in the residual guarantees or in future lease payments due to a change of an index or rate tied to the payments. CONTRACT COSTS Contract costs are comprised primarily of transition costs incurred to implement long-term managed IT and business process services contracts and incentives. Transition costs Transition costs consist mostly of costs associated with the installation of systems and processes, as well as conversion of the client’s applications to the Company’s platforms incurred after the award of managed IT and business process services contracts. Transition costs are comprised essentially of labour costs, including compensation and related fringe benefits, as well as subcontractor costs. Incentives Occasionally, incentives are granted to clients upon the signing of managed IT and business process services contracts. These incentives are granted in the form of cash payments. Amortization of contract costs Contract costs are amortized using the straight-line method over the period services are provided. Amortization of transition costs is included in costs of services, selling and administrative and amortization of incentives is recorded as a reduction of revenue. Impairment of contract costs When a contract is not expected to be profitable, the estimated loss is first applied to impair the related capitalized contract costs. The excess of the expected loss over the capitalized contract costs is recorded as onerous revenue-generating contracts in provisions. If at a future date the contract returns to profitability, the previously recognized impairment loss must be reversed. First the estimated losses on revenue-generating contracts must be reversed, and if there is still additional projected profitability then any capitalized contract costs that were impaired must be reversed. The reversal of the impairment loss is limited so that the carrying amount does not exceed its recoverable amount, nor exceed the carrying amount that would have been determined, net of amortization, had no impairment loss been recognized for the contract costs in prior years. INTANGIBLE ASSETS Intangible assets consist mainly of internal-use software, business solutions, software licenses and client relationships. Internal-use software, business solutions and software licenses are recorded at cost. Internal-use software developed internally is capitalized when it meets specific capitalization criteria related to technical and financial feasibility and when the Company demonstrates its ability and intention to use it. Business solutions developed internally and marketed are capitalized when they meet specific capitalization criteria related to technical, market and financial feasibility. Internal-use software, business solutions, software licenses and client relationships acquired through business combinations are initially recorded at their fair value based on the present value of expected future cash flows, which involves estimates, such as the forecasting of future cash flows and discount rates. 3. Summary of significant accounting policies (continued) INTANGIBLE ASSETS (CONTINUED) Amortization of intangible assets The Company amortizes its intangible assets using the straight-line method over their estimated useful lives. Internal-use software 2 to 7 years Business solutions 2 to 10 years Software licenses 3 to 8 years Client relationships 2 to 10 years IMPAIRMENT OF PP&E, RIGHT-OF-USE ASSETS, INTANGIBLE ASSETS AND GOODWILL Timing of impairment testing The carrying values of PP&E, right-of-use assets, intangible assets and goodwill are reviewed for impairment when events or changes in circumstances indicate that the carrying value may be impaired. The Company assesses at each reporting date whether any such events or changes in circumstances exist. The carrying values of intangible assets not available for use are tested for impairment annually as at September 30. Goodwill is tested for impairment annually during the fourth quarter of each fiscal year. Impairment testing If any indication of impairment exists or when annual impairment testing for an asset is required, the Company estimates the recoverable amount of the asset or cash-generating unit (CGU) to which the asset relates to determine the extent of any impairment loss. The recoverable amount is the higher of an asset’s or CGU’s fair value less costs of disposal and its value in use (VIU) to the Company. The Company mainly uses the VIU. In assessing the VIU, estimated future cash flows are discounted to their present value using a discount rate that reflects current market assessments of the time value of money and the risks specific to the asset or CGU. In determining fair value less costs of disposal, recent market transactions are taken into account, if available. If the recoverable amount of an asset or a CGU is estimated to be less than its carrying amount, the carrying amount is reduced to its recoverable amount. An impairment loss is recognized immediately in the consolidated statements of earnings. Goodwill acquired through business combinations is allocated to the CGU or group of CGUs that are expected to benefit from acquired work force and synergies of the related business combination. The group of CGUs that benefit from the acquired work force and synergies correspond to the Company’s operating segments. For goodwill impairment testing purposes, the group of CGUs that represents the lowest level within the Company at which management monitors goodwill is the operating segment level. The recoverable amount of each operating segment has been determined based on the VIU calculation which includes estimates about their future financial performance based on cash flows approved by management covering a period of five years. Key assumptions used in the VIU calculations are the discount rate applied and the long-term growth rate of net operating cash flows. In determining these assumptions, management has taken into consideration the current economic environment and its resulting impact on expected growth and discount rates. The cash flow projections reflect management’s expectations of the operating segment's operating performance and growth prospects in the operating segment’s market. The discount rate applied to an operating segment is the weighted average cost of capital (WACC). Management considers factors such as country risk premium, risk-free rate, size premium and cost of debt to derive the WACC. Impairment losses relating to goodwill cannot be reversed in future periods. For impaired assets, other than goodwill, an assessment is made at each reporting date as to whether there is any indication that previously recognized impairment losses may no longer exist or may have decreased. If such indication exists, the Company estimates the recoverable amount of the asset. A previously recognized impairment loss is reversed only if there has been a change in the assumptions used to determine the recoverable amount of the asset since the last impairment loss was recognized. The reversal is limited so that the carrying amount of the asset does not exceed its recoverable amount, nor exceed the carrying amount that would have been determined, net of amortization, had no impairment loss been recognized for the asset in prior years. Such reversal is recognized in the consolidated statements of earnings. 3. Summary of significant accounting policies (continued) LONG-TERM FINANCIAL ASSETS Long-term investments presented in long-term financial assets are comprised of bonds which are presented as long-term based on management’s intentions. BUSINESS COMBINATIONS The Company accounts for its business combinations using the acquisition method. Under this method, the consideration transferred is measured at fair value. Acquisition-related and integration costs associated with the business combination are expensed as incurred or when a present legal or constructive obligation exists. The Company recognizes goodwill as the excess of the cost of the acquisition over the net identifiable tangible and intangible assets acquired and liabilities assumed at their acquisition-date fair values. The goodwill recognized is composed of the future economic value associated to acquired work force and synergies with the Company’s operations which are primarily due to reduction of costs and new business opportunities. Management makes assumptions when determining the acquisition-date fair values of the identifiable tangible and intangible assets acquired and liabilities assumed which involve estimates, such as the forecasting of future cash flows, discount rates, and the useful lives of the assets acquired. Subsequent changes in fair values are recorded as part of the purchase price allocation and therefore result in corresponding goodwill adjustments if they qualify as measurement period adjustments. The measurement period is the period between the date of acquisition and the date where all significant information necessary to determine the fair values is available, not to exceed 12 months. All other subsequent changes in estimates and judgements are recognized in the consolidated statements of earnings. EARNINGS PER SHARE Basic earnings per share is based on the weighted average number of shares outstanding during the period. Diluted earnings per share is determined using the treasury stock method to evaluate the dilutive effect of stock options and performance share units (PSUs). RESEARCH AND SOFTWARE DEVELOPMENT COSTS Research costs are charged to earnings in the period in which they are incurred, net of related tax credits. Software development costs related to internal-use software and business solutions are charged to earnings in the year they are incurred, net of related tax credits, unless they meet specific capitalization criteria related to technical, market and financial feasibility as described in the Intangible assets section above. TAX CREDITS The Company follows the income approach to account for research and development (R&D) and other tax credits, whereby investment tax credits are recorded when there is a reasonable assurance that the assistance will be received and that the Company will comply with all relevant conditions. Under this method, tax credits related to operating expenditures are recorded as a reduction of the related expenses and recognized in the period in which the related expenditures are charged to earnings. Tax credits related to capital expenditures are recorded as a reduction of the cost of the related assets. The tax credits recorded are based on management's best estimates of amounts expected to be received and are subject to audit by the taxation authorities. 3. Summary of significant accounting policies (continued) INCOME TAXES Income taxes are accounted for using the liability method of accounting. Current income taxes are recognized with respect to the amounts expected to be paid or recovered under the tax rates and laws that have been enacted or substantively enacted at the balance sheets date. Deferred tax assets and liabilities are determined based on deductible or taxable temporary differences between the amounts reported for consolidated financial statement purposes and tax values of the assets and liabilities using enacted or substantively enacted tax rates that will be in effect for the year in which the differences are expected to be recovered or settled. Deferred tax assets and liabilities are recognized in earnings, in other comprehensive income or in equity based on the classification of the item to which they relate. Deferred tax assets are recognized for unused tax losses and deductible temporary differences to the extent that it is probable that taxable profit will be available against which the losses can be utilized. Once this assessment is made, the Company considers the analysis of forecasts and future tax planning strategies. Estimates of taxable profit are made based on the forecast by jurisdiction on an undiscounted basis. In addition, management considers factors such as substantively enacted tax rates, the history of the taxable profits and availability of tax strategies. The Company is subject to income tax laws in numerous jurisdictions. Judgement is required in determining the worldwide provision for income taxes as the determination of tax liabilities and assets involves uncertainties in the interpretation of complex tax regulations and requires estimates and assumptions considering the existing facts and circumstances. The Company provides for potential tax liabilities based on the most likely amount of the possible outcomes. Estimates are reviewed each reporting period and updated, based on new information available, and could result in changes to the income tax liabilities and deferred tax liabilities in the period in which such determinations are made. PROVISIONS Provisions are recognized when the Company has a present legal or constructive obligation as a result of a past event, it is probable that an outflow of resources embodying economic benefits will be required to settle the obligation and a reliable estimate can be made of the amount of the obligation. The Company’s provisions consist of liabilities for litigation and claims provisions arising in the ordinary course of business, decommissioning liabilities for leases of office buildings, onerous supplier contracts and onerous revenue-generating contracts. The Company also records restructuring provisions for termination of employment costs related to specific initiatives and to the integration of its business acquisitions. The amount recognized as a provision is the best estimate of the consideration required to settle the present obligation at the end of the reporting period, taking into account the risks and uncertainties surrounding the obligation. Provisions are discounted using a current pre-tax rate when the impact of the time value of money is material. The increase in the provisions due to the passage of time is recognized as finance costs. The accrued litigation and legal claims provisions are based on historical experience, current trends and other assumptions that are believed to be reasonable under the circumstances. Estimates include the period in which the underlying cause of the claim occurred and the degree of probability of an unfavourable outcome. Decommissioning liabilities pertain to leases of buildings where certain arrangements require premises to be returned to their original state at the end of the lease term. The provision is determined using the present value of the estimated future cash outflows. Provisions for onerous supplier contracts are recorded when the unavoidable net cash flows from honoring the contract are negative. The provision represents the lowest of the costs to fulfill the contract and the penalties to exit the contract. Provisions for onerous revenue-generating contracts are recorded when unavoidable costs of fulfilling the contract exceed the estimated total revenue from the contract. Management regularly reviews arrangement profitability and the underlying estimates. Restructuring provisions are recognized when a detailed formal plan identifies the business or part of the business concerned, the location and number of employees affected, a detailed estimate of the associated costs, appropriate timelines and has been communicated to those affected by it. 3. Summary of significant accounting policies (continued) TRANSLATION OF FOREIGN CURRENCIES The Company’s consolidated |
Accounts receivable
Accounts receivable | 12 Months Ended |
Sep. 30, 2020 | |
Subclassifications of assets, liabilities and equities [abstract] | |
Accounts receivable | Accounts receivable As at As at $ $ Trade (Note 32) 904,887 979,728 R&D and other tax credits 1 180,953 259,289 Other 133,462 118,073 1,219,302 1,357,090 1 R&D and other tax credits were related to government programs in Canada, the United States, France, the United Kingdom and other countries. |
Funds held for clients
Funds held for clients | 12 Months Ended |
Sep. 30, 2020 | |
Funds Held For Clients [Abstract] | |
Funds held for clients | Funds held for clients As at As at $ $ Cash 576,708 187,823 Long-term bonds (Note 32) 148,470 180,289 725,178 368,112 |
Property, plant and equipment
Property, plant and equipment | 12 Months Ended |
Sep. 30, 2020 | |
Property, plant and equipment [abstract] | |
Property, plant and equipment | Property, plant and equipment Land and buildings Leasehold improvements Furniture, fixtures and equipment Computer equipment Total $ $ $ $ $ Cost As at September 30, 2019 58,614 224,559 180,638 714,629 1,178,440 Adoption of IFRS 16 (Note 3) — — (14,578 ) (40,357 ) (54,935 ) As at October 1, 2019 58,614 224,559 166,060 674,272 1,123,505 Additions 5,759 28,188 12,225 79,057 125,229 Additions - business acquisitions (Note 27a) 12,730 1,013 2,683 2,474 18,900 Disposals/retirements — (17,160 ) (19,405 ) (118,490 ) (155,055 ) Foreign currency translation adjustment 2,178 4,942 3,656 24,578 35,354 As at September 30, 2020 79,281 241,542 165,219 661,891 1,147,933 Accumulated depreciation As at September 30, 2019 16,961 139,726 118,672 505,420 780,779 Adoption of IFRS 16 (Note 3) — — (8,285 ) (24,787 ) (33,072 ) As at October 1, 2019 16,961 139,726 110,387 480,633 747,707 Depreciation expense (Note 24) 1,895 24,965 14,240 115,490 156,590 Impairment (Note 24) — — — 1,035 1,035 Disposals/retirements — (17,160 ) (19,021 ) (117,681 ) (153,862 ) Foreign currency translation adjustment 1,268 3,041 2,454 16,754 23,517 As at September 30, 2020 20,124 150,572 108,060 496,231 774,987 Net carrying amount as at September 30, 2020 59,157 90,970 57,159 165,660 372,946 Land and buildings Leasehold improvements Furniture, fixtures and equipment Computer equipment Total $ $ $ $ $ Cost As at September 30, 2018 58,455 204,888 164,634 686,499 1,114,476 Additions 619 40,915 19,568 104,887 165,989 Additions - business acquisitions ( Note 27b ) — 5,320 981 1,374 7,675 Disposals/retirements — (25,565 ) (4,146 ) (67,291 ) (97,002 ) Foreign currency translation adjustment (460 ) (999 ) (399 ) (10,840 ) (12,698 ) As at September 30, 2019 58,614 224,559 180,638 714,629 1,178,440 Accumulated depreciation As at September 30, 2018 14,652 144,275 106,223 461,233 726,383 Depreciation expense (Note 24) 2,601 21,021 16,428 119,214 159,264 Disposals/retirements — (25,099 ) (3,836 ) (67,223 ) (96,158 ) Foreign currency translation adjustment (292 ) (471 ) (143 ) (7,804 ) (8,710 ) As at September 30, 2019 16,961 139,726 118,672 505,420 780,779 Net carrying amount as at September 30, 2019 41,653 84,833 61,966 209,209 397,661 |
Right of use assets
Right of use assets | 12 Months Ended |
Sep. 30, 2020 | |
Presentation of leases for lessee [abstract] | |
Right-of-use-assets | Right-of-use assets Properties Motor vehicles and others Computer equipment Total $ $ $ $ Cost As at September 30, 2019 — — — — Adoption of IFRS 16 (Note 3) 1,070,987 230,707 40,357 1,342,051 As at October 1, 2019 1,070,987 230,707 40,357 1,342,051 Additions 59,556 56,976 2,390 118,922 Additions - business acquisitions (Note 27a) 11,859 — — 11,859 Change in estimates and lease modifications (6,460 ) — — (6,460 ) Disposals/retirements (56,986 ) (61,941 ) (3,110 ) (122,037 ) Foreign currency translation adjustment 45,302 8,234 1,328 54,864 As at September 30, 2020 1,124,258 233,976 40,965 1,399,199 Accumulated depreciation As at September 30, 2019 — — — — Adoption of IFRS 16 (Note 3) 546,537 69,381 24,787 640,705 As at October 1, 2019 546,537 69,381 24,787 640,705 Depreciation expense (Note 24) 127,931 33,140 7,168 168,239 Impairment (Note 24) 8,361 — — 8,361 Disposals/retirements (56,986 ) (52,467 ) (3,110 ) (112,563 ) Foreign currency translation adjustment 24,028 2,803 761 27,592 As at September 30, 2020 649,871 52,857 29,606 732,334 Net carrying amount as at September 30, 2020 474,387 181,119 11,359 666,865 |
Contract costs
Contract costs | 12 Months Ended |
Sep. 30, 2020 | |
Revenue From Contracts With Customers [Abstract] | |
Contract costs | Contract costs As at September 30, 2020 As at September 30, 2019 Cost Accumulated amortization Net carrying amount Cost Accumulated amortization Net carrying amount $ $ $ $ $ $ Transition costs 477,174 246,468 230,706 476,075 258,283 217,792 Incentives 67,545 58,875 8,670 61,258 56,085 5,173 544,719 305,343 239,376 537,333 314,368 222,965 |
Intangible assets
Intangible assets | 12 Months Ended |
Sep. 30, 2020 | |
Intangible Assets [Abstract] | |
Intangible assets | Intangible assets Internal-use software acquired Internal-use software internally developed Business solutions acquired Business solutions internally developed Software licenses Client relationships Total $ $ $ $ $ $ $ Cost As at September 30, 2019 99,204 123,289 81,028 511,384 221,510 1,095,339 2,131,754 Additions 929 9,861 229 88,900 10,738 — 110,657 Additions - business acquisitions (Note 27a) — — — — 507 47,303 47,810 Disposals/retirements (4,652 ) (2,826 ) (7,506 ) (34,810 ) (47,888 ) (2,376 ) (100,058 ) Foreign currency translation adjustment 1,419 974 2,527 5,541 5,505 47,596 63,562 As at September 30, 2020 96,900 131,298 76,278 571,015 190,372 1,187,862 2,253,725 Accumulated amortization As at September 30, 2019 80,467 69,095 79,907 317,846 159,591 906,866 1,613,772 Amortization expense (Note 24) 7,336 12,986 316 41,928 26,411 68,401 157,378 Impairment (Note 24) — — — 10,633 — — 10,633 Disposals/retirements (4,652 ) (2,826 ) (7,506 ) (34,810 ) (47,146 ) (453 ) (97,393 ) Foreign currency translation adjustment 1,280 490 2,453 2,525 3,600 37,525 47,873 As at September 30, 2020 84,431 79,745 75,170 338,122 142,456 1,012,339 1,732,263 Net carrying amount as at September 30, 12,469 51,553 1,108 232,893 47,916 175,523 521,462 Internal-use software acquired Internal-use software internally developed Business solutions acquired Business solutions internally developed Software licenses Client relationships Total $ $ $ $ $ $ $ Cost As at September 30, 2018 95,707 114,701 82,256 444,593 216,490 1,025,083 1,978,830 Additions 4,321 9,433 911 61,693 20,196 — 96,554 Additions - business acquisitions (Note 27b) 77 — — — 201 113,786 114,064 Disposals/retirements (436 ) (326 ) (803 ) (46 ) (13,281 ) (24,321 ) (39,213 ) Foreign currency translation adjustment (465 ) (519 ) (1,336 ) 5,144 (2,096 ) (19,209 ) (18,481 ) As at September 30, 2019 99,204 123,289 81,028 511,384 221,510 1,095,339 2,131,754 Accumulated amortization As at September 30, 2018 72,177 58,212 80,586 277,092 145,078 866,359 1,499,504 Amortization expense (Note 24) 8,872 11,513 1,319 37,318 29,356 76,182 164,560 Disposals/retirements (436 ) (326 ) (803 ) (46 ) (13,247 ) (24,321 ) (39,179 ) Foreign currency translation adjustment (146 ) (304 ) (1,195 ) 3,482 (1,596 ) (11,354 ) (11,113 ) As at September 30, 2019 80,467 69,095 79,907 317,846 159,591 906,866 1,613,772 Net carrying amount as at September 30, 18,737 54,194 1,121 193,538 61,919 188,473 517,982 |
Other long-term assets
Other long-term assets | 12 Months Ended |
Sep. 30, 2020 | |
Subclassifications of assets, liabilities and equities [abstract] | |
Other long-term assets | Other long-term assets As at As at $ $ Prepaid long-term maintenance agreements 17,567 20,532 Insurance contracts held to fund defined benefit pension and life assurance arrangements - reimbursement rights (Note 17) 24,033 23,879 Retirement benefits assets (Note 17) 86,127 96,620 Deposits 13,312 13,999 Deferred financing fees 3,408 3,798 Other 19,292 21,652 163,739 180,480 |
Long-term financial assets
Long-term financial assets | 12 Months Ended |
Sep. 30, 2020 | |
Subclassifications of assets, liabilities and equities [abstract] | |
Long-term financial assets | Long-term financial assets As at As at $ $ Deferred compensation plan assets (Notes 17 and 32) 73,156 62,627 Long-term investments (Note 32) 22,612 24,596 Long-term receivables 20,623 18,034 Long-term derivative financial instruments (Note 32) 40,178 71,642 156,569 176,899 |
Goodwill
Goodwill | 12 Months Ended |
Sep. 30, 2020 | |
Intangible Assets [Abstract] | |
Goodwill | Goodwill Effective October 1, 2019, the Company realigned its management structure, resulting primarily in the creation of two new operating segments, namely Scandinavia (Sweden, Denmark and Norway) and Finland, Poland and Baltics, collectively formerly known as Northern Europe in the prior fiscal year. As a result, the Company is now managed through nine operating segments, namely: Western and Southern Europe (primarily France, Portugal and Belgium); United States (U.S.) Commercial and State Government; Canada; U.S. Federal; United Kingdom (U.K.) and Australia; Central and Eastern Europe (primarily Germany and Netherlands); Scandinavia; Finland, Poland and Baltics; and Asia Pacific Global Delivery Centers of Excellence (mainly India and Philippines) (Asia Pacific). This realignment of management structure also included, to a lesser extent, transfers of some lines of business between our operating segments. Due to the changes in operating segments and that CGUs correspond to the operating segments, the Company reallocated goodwill to the revised CGUs using their relative fair value. The operating segments reflect the fiscal year 2020 management structure and the way that the chief operating decision-maker, who is the President and Chief Executive Officer of the Company, evaluates the business. The Company completed the annual impairment test during the fourth quarter of the fiscal year 2020 and did not identify any impairment. The variations in goodwill were as follows: Western and Southern Europe U.S. Commercial and State Government Canada U.S. Federal U.K. and Australia Central and Eastern Europe Scandinavia Finland, Poland and Baltics Asia Pacific Total $ $ $ $ $ $ $ $ $ $ As at September 30, 2019 975,075 1,134,246 1,136,737 918,064 806,318 820,565 1,703,927 — 272,905 7,767,837 Business acquisitions (Note 27) 32,272 — 5,411 86,882 53,021 95,285 (6,604 ) — — 266,267 Goodwill reallocation — 6,324 — (6,324 ) — — (613,472 ) 613,472 — — Sale of business — — — — — — (3,411 ) — — (3,411 ) Foreign currency translation adjustment 81,752 6,737 — 540 45,633 69,999 89,433 46,406 8,738 349,238 As at September 30, 2020 1,089,099 1,147,307 1,142,148 999,162 904,972 985,849 1,169,873 659,878 281,643 8,379,931 Key assumptions in goodwill impairment testing The key assumptions for the CGUs are disclosed in the following tables for the years ended September 30: 2020 Western and Southern Europe U.S. Commercial and State Government Canada U.S. Federal U.K. and Australia Central and Eastern Europe Scandinavia Finland, Poland and Baltics Asia Pacific % % % % % % % % % Pre-tax WACC 11.2 9.3 9.6 8.5 9.3 10.2 10.0 10.8 23.0 Long-term growth rate of net operating cash flows 1 1.7 2.0 2.0 2.0 2.0 1.9 1.9 1.7 2.0 2019 Western and Southern Europe U.S. Commercial and State Government Canada U.S. Federal U.K. and Australia Central and Eastern Europe Northern Europe Asia Pacific % % % % % % % % Pre-tax WACC 9.1 10.0 8.9 9.9 8.9 9.1 9.4 21.4 Long-term growth rate of net operating cash flows 1 1.8 2.0 2.0 2.0 1.9 1.5 1.8 2.0 1 The long-term growth rate is based on published industry research. |
Provisions
Provisions | 12 Months Ended |
Sep. 30, 2020 | |
Subclassifications of assets, liabilities and equities [abstract] | |
Provisions | Provisions Restructuring 1 Decommissioning liabilities 2 Others 3 Total $ $ $ $ As at September 30, 2019 39,212 25,824 33,419 98,455 Adoption of IFRS 16 (Note 3) — — (5,987 ) (5,987 ) As at October 1, 2019 39,212 25,824 27,432 92,468 Additional provisions 193,592 5,328 34,842 233,762 Business acquisitions — 351 24,823 25,174 Utilized amounts (119,331 ) (3,667 ) (24,091 ) (147,089 ) Reversals of unused amounts — (3,006 ) (6,532 ) (9,538 ) Discount rate adjustment and imputed interest — 158 — 158 Foreign currency translation adjusment 1,799 1,573 1,213 4,585 As at September 30, 2020 115,272 26,561 57,687 199,520 Current portion 112,731 8,609 54,292 175,632 Non-current portion 2,541 17,952 3,395 23,888 1 See Note 25, Restructuring costs and Note 27c), Investments in subsidiaries. 2 As at September 30, 2020 , the decommissioning liabilities were based on the expected cash flows of $ 27,390,000 and were discounted at a weighted average rate of 0.59% . The timing of settlements of these obligations ranges between one and thirteen years as at September 30, 2020. The reversals of unused amounts are mostly due to favourable settlements. 3 As at September 30, 2020 , others included onerous revenue-generating contracts, onerous supplier contracts and litigation and claims. |
Long-term debt
Long-term debt | 12 Months Ended |
Sep. 30, 2020 | |
Financial Instruments [Abstract] | |
Long-term debt | Long-term debt As at As at $ $ Senior U.S. unsecured note repayable of $333,125 (U.S.$250,000) in December 2021 1 339,682 332,533 Senior unsecured notes repayable in September by tranches of $73,288 (U.S.$55,000) in 2021, $399,750 (U.S.$300,000) in 2024, $266,500 (U.S.$200,000) in four yearly repayments of U.S.$50,000 from 2021 to 2024 and $132,787 (€85,000) in 2021 2 872,283 924,021 Unsecured committed revolving credit facility 3 — 334,370 Unsecured committed term loan credit facilities 4 2,330,288 661,939 Obligations under finance leases repayable in blended monthly installments (maturing at various dates until 2024, bearing a weighted average interest rate of 2.44% in 2019) (Note 3) — 30,339 Other long-term debt 44,842 48,005 3,587,095 2,331,207 Current portion 310,764 113,511 3,276,331 2,217,696 1 As at September 30, 2020 , an amount of $333,125,000 was borrowed, plus fair value adjustments relating to interest rate swaps designated as fair value hedges of $6,470,000 and less financing fees. The private placement financing with U.S. institutional investors is comprised of one tranche of Senior U.S. unsecured note, due in December 2021, with an interest rate of 4.99% (interest rate of 4.99% in 2019 ). The Senior U.S. unsecured note contains covenants that require the Company to maintain certain financial ratios (Note 33). As at September 30, 2020 , the Company was in compliance with these covenants. 2 As at September 30, 2020 , an amount of $872,325,000 was borrowed, less financing fees. The private placement is comprised of three tranches of Senior U.S. unsecured notes and one tranche of Senior euro unsecured note, with a weighted average maturity of 2.8 years and a weighted average interest rate of 3.64% ( 3.66% in 2019 ). In September 2020 , the Company repaid the third of the seven yearly scheduled repayments of U.S. $50,000,000 on a tranche of the Senior U . S. unsecured notes for a total amount of $65,860,000 and settled the related cross-currency swaps (Note 32). The Senior unsecured notes contain covenants that require the Company to maintain certain financial ratios (Note 33). As at September 30, 2020 , the Company was in compliance with these covenants. 3 The Company has an unsecured committed revolving credit facility available for an amount of $1,500,000,000 that expires in December 2024. This facility bears interest at bankers' acceptance, LIBOR or Canadian prime, plus a variable margin that is determined based on the Company's leverage ratio. As at September 30, 2020 , there was no amount drawn upon this facility. An amount of $9,699,000 has been committed against this facility to cover various letters of credit issued for clients and other parties. The unsecured committed revolving credit facility contains covenants that require the Company to maintain certain financial ratios (Note 33). As at September 30, 2020 , the Company was in compliance with these covenants. 4 During the year ended September 30, 2020, the Company entered into the 2020 Term Loan for a total principal amount of U.S. $1,250,000,000 (Note 32). The 2020 Term Loan expires in March 2022, bears interest based on the 1 month USD LIBOR rate, plus a variable margin that is determined based on the Company's leverage ratio. As at September 30, 2020 , an amount of $1,665,625,000 was borrowed less financing fees with a weighted average interest rate of 0.16 % and a margin of 1.50% . In addition, the Company has an unsecured committed term loan credit facility for a notional amount of U.S. $500,000,000 expiring in December 2023. This facility bears interest based on the 1 month USD LIBOR rate, plus a variable margin that is determined based on the Company's leverage ratio. As at September 30, 2020, an amount of $666,250,000 was borrowed less financing fees with a weighted average interest rate ratio of 0.16% and a margin of 1.00 %. The unsecured committed term loan credit facilities contains covenants that require the Company to maintain certain financial ratios (Note 33). As at September 30, 2020 , the Company was in compliance with these covenants. |
Other long-term liabilities
Other long-term liabilities | 12 Months Ended |
Sep. 30, 2020 | |
Subclassifications of assets, liabilities and equities [abstract] | |
Other long-term liabilities | Other long-term liabilities As at As at $ $ Deferred revenue 38,466 70,522 Deferred compensation plan liabilities (Note 17) 82,221 63,838 Deferred rent (Note 3) — 64,655 Other 1 64,687 14,377 185,374 213,392 1 As at September 30, 2020, other is mainly composed of $48,299,000 in relation with the deferral of the employer side social security payments under the U.S. Government Coronavirus Aid, Relief, and Economic Security Act (CARES Act). |
Income taxes
Income taxes | 12 Months Ended |
Sep. 30, 2020 | |
Income Taxes [Abstract] | |
Income taxes | Income taxes Year ended September 30 2020 2019 $ $ Current income tax expense Current income tax expense in respect of the current year 416,563 439,972 Adjustments recognized in the current year in relation to the income tax expense of prior years (24,328 ) (17,934 ) Total current income tax expense 392,235 422,038 Deferred income tax expense (recovery) Deferred income tax recovery relating to the origination and reversal of temporary differences (1,120 ) (959 ) Deferred income tax (recovery) expense relating to changes in tax rates (3,479 ) 784 Adjustments recognized in the current year in relation to the deferred income tax recovery of prior years 10,769 — Recognition of previously unrecognized temporary differences — (8,122 ) Total deferred income tax expense (recovery) 6,170 (8,297 ) Total income tax expense 398,405 413,741 The Company’s effective income tax rate differs from the combined Federal and Provincial Canadian statutory tax rate as follows: Year ended September 30 2020 2019 % % Company's statutory tax rate 26.5 26.6 Effect of foreign tax rate differences (0.9 ) (1.6 ) Final determination from agreements with tax authorities and expirations of statutes of limitations (0.9 ) (1.4 ) Non-deductible and tax exempt items 0.2 0.2 Effect of integration-related costs 0.7 0.1 Minimum income tax charge 0.9 0.8 Changes in tax laws and rates (0.2 ) — Effective income tax rate 26.3 24.7 16. Income taxes (continued) The continuity schedule of deferred tax balances is as follows: As at Adoption of IFRS 16 (Note 3) As at October 1, 2020 Additions from business acquisitions Recognized in earnings Recognized Recognized in equity Foreign currency translation adjustment and other As at $ $ $ $ $ $ $ $ $ Accounts payable and accrued liabilities, provisions and other long-term liabilities 67,926 (17,150 ) 50,776 47 12,819 (7 ) — 573 64,208 Tax benefits on losses carried forward 59,163 — 59,163 886 (17,492 ) — — 3,671 46,228 Accrued compensation 45,407 — 45,407 — (2,464 ) — (16,933 ) 1,410 27,420 Retirement benefits obligations 17,904 — 17,904 60 (4,959 ) 8,282 — 1,879 23,166 Lease liabilities — 231,562 231,562 3,751 (18,864 ) — — 6,548 222,997 PP&E, contract costs, intangible assets and other long-term assets (123,147 ) — (123,147 ) (5,933 ) (6,710 ) — — (670 ) (136,460 ) Right-of-use assets — (182,822 ) (182,822 ) (3,658 ) 21,133 — — (6,488 ) (171,835 ) Work in progress (43,569 ) — (43,569 ) 170 9,532 — — (410 ) (34,277 ) Goodwill (60,366 ) — (60,366 ) (757 ) (2,127 ) — — (959 ) (64,209 ) Refundable tax credits on salaries (25,819 ) — (25,819 ) — 3,095 — — — (22,724 ) Cash flow hedges (13,903 ) — (13,903 ) — (869 ) 13,773 — 524 (475 ) Other (1,322 ) — (1,322 ) 1,354 736 1,095 — (759 ) 1,104 Deferred taxes, net (77,726 ) 31,590 (46,136 ) (4,080 ) (6,170 ) 23,143 (16,933 ) 5,319 (44,857 ) As at September 30, 2018 Additions from business acquisitions Recognized in earnings Recognized Recognized in equity Foreign currency translation adjustment and other As at 30, 2019 $ $ $ $ $ $ $ Accounts payable and accrued liabilities, provisions and other long-term liabilities 78,177 (3,220 ) (8,394 ) — — 1,363 67,926 Tax benefits on losses carried forward 62,415 — (1,001 ) — — (2,251 ) 59,163 Accrued compensation 34,887 18 3,995 — 6,132 375 45,407 Retirement benefits obligations 25,418 — (2,683 ) (4,324 ) — (507 ) 17,904 Allowance for doubtful accounts (260 ) — 260 — — — — PP&E, contract costs, intangible assets and other long-term assets (106,207 ) (24,514 ) 7,788 — — (214 ) (123,147 ) Work in progress (59,142 ) — 16,010 — — (437 ) (43,569 ) Goodwill (53,891 ) — (5,407 ) — — (1,068 ) (60,366 ) Refundable tax credits on salaries (26,502 ) — 683 — — — (25,819 ) Cash flow hedges 12,398 — (1,470 ) (25,290 ) — 459 (13,903 ) Other (638 ) 76 (1,484 ) 2,374 — (1,650 ) (1,322 ) Deferred taxes, net (33,345 ) (27,640 ) 8,297 (27,240 ) 6,132 (3,930 ) (77,726 ) The deferred tax balances are presented as follows in the consolidated balance sheets: As at As at $ $ Deferred tax assets 113,484 100,539 Deferred tax liabilities (158,341 ) (178,265 ) (44,857 ) (77,726 ) 16. Income taxes (continued) As at September 30, 2020 , the Company had $291,255,000 ( $367,352,000 as at September 30, 2019 ) in operating tax losses carried forward, of which $59,390,000 ( $37,480,000 as at September 30, 2019 ) expire at various dates from 2029 to 2040 and $231,865,000 ( $329,872,000 as at September 30, 2019 ) have no expiry dates. As at September 30, 2020 , a deferred income tax asset of $41,380,000 ( $54,814,000 as at September 30, 2019 ) has been recognized on $217,563,000 ( $289,976,000 as at September 30, 2019 ) of these losses. The deferred income tax assets are recognized only to the extent that it is probable that taxable income will be available against which the unused tax losses can be utilized. As at September 30, 2020 , the Company had $31,639,000 ( $29,287,000 as at September 30, 2019 ) of the unrecognized operating tax losses that will expire at various dates from 2029 to 2032 and 42,053,000 ( $48,089,000 as at September 30, 2019 ) that have no expiry date. As at September 30, 2020 , the Company had $485,546,000 ( $471,772,000 as at September 30, 2019 ) in non-operating tax losses carried forward that have no expiry dates. As at September 30, 2020 , a deferred income tax asset of $4,848,000 ( $4,349,000 as at September 30, 2019 ) has been recognized on $19,436,000 ( $18,151,000 as at September 30, 2019 ) of these losses. As at September 30, 2020 , the Company had $466,110,000 ( $453,621,000 as at September 30, 2019 ) of unrecognized non-operating tax losses. As at September 30, 2020 , the Company had $836,101,000 ( $149,121,000 as at September 30, 2019 ) of cash and cash equivalents held by foreign subsidiaries. The tax implications of the repatriation of cash and cash equivalents not considered indefinitely reinvested have been accounted for and will not materially affect the Company’s liquidity. In addition, the Company has not recorded deferred tax liabilities on undistributed earnings of $5,565,437,000 ( $4,457,906,000 as at September 30, 2019 ) coming from its foreign subsidiaries as they are considered indefinitely reinvested. Upon distribution of these earnings in the form of dividends or otherwise, the Company may be subject to taxation. On September 30, 2019, the Company recorded a deferred tax asset of $18,500,000 attributable to the recognition of additional operating tax losses following a settlement with the German tax authority. |
Employee benefits
Employee benefits | 12 Months Ended |
Sep. 30, 2020 | |
Employee Benefits [Abstract] | |
Employee benefits | Employee benefits The Company operates various post-employment plans, including defined benefit and defined contribution pension plans as well as other benefit plans for its employees. DEFINED BENEFIT PLANS The Company operates defined benefit pension plans primarily for the benefit of employees in the U.K., Germany and France, with smaller plans in other countries. The benefits are based on pensionable salary and years of service and are funded with assets held in separate funds. The defined benefit plans expose the Company to interest risk, inflation risk, longevity risk, currency risk and market investment risk. The following description focuses mainly on plans registered in the U.K., Germany and France: U.K. In the U.K., the Company has three defined benefit pension plans, the CMG U.K. Pension Scheme, the Logica U.K. Pension & Life Assurance Scheme and the Logica Defined Benefit Pension Plan. The CMG U.K. Pension Scheme is closed to new members and is closed to further accrual of rights for existing members. The Logica U.K. Pension & Life Assurance Scheme is still open but only for employees who come from the civil service with protected pensions. The Logica Defined Benefit Pension Plan was created to mirror the Electricity Supply Pension Scheme and was created for employees that worked for National Grid and Welsh Water with protected benefits. Both the Logica U.K. Pension & Life Assurance Scheme and the Logica Defined Benefit Pension Plan are employer and employee based contribution plans. The trustees are the custodians of the defined benefit pension plans and are responsible for the plan administration, including investment strategies. The trustees review periodically the investment and the asset allocation policies. As such, the CMG U.K. Pension Scheme policy is to target an allocation up to a maximum of 70% to return-seeking assets such as equities; the Logica U.K. Pension & Life Assurance Scheme policy is to invest 15% of the scheme assets in equities and 85% in bonds; and the Logica Defined Benefit Pension Plan policy is to invest 30% of the plan assets in equities and 70% in bonds. The U.K. Pensions Act 2004 requires that full formal actuarial valuations are carried out at least every three years to determine the contributions that the Company should pay in order for the plan to meet its statutory objective, taking into account the assets already held. In the interim years, the trustees need to obtain estimated funding updates unless the scheme has less than 100 members in total. The latest funding actuarial valuations of the three defined benefit pension plans described above were performed as at September 30, 2018 and the results were finalized during the year ended September 30, 2020 with the following recommendations: – The actuarial valuation of the CMG U.K. Pension Scheme reported a deficit of $26,546,000 . A new recovery plan was proposed, and during fiscal 2020, the Company contributed a total amount of $12,432,000 to ensure that the funding objectives of the scheme were met, and stopped the contributions on June 30, 2020 accordingly to the plan. The Company also contributed an amount of $1,279,000 to cover administration expenses; and – The actuarial valuation of the Logica Defined Benefit Pension Plan specified that no supplementary contributions were required after November 30, 2019 in order to reach the plan funding objectives. During fiscal 2020, the Company contributed a total amount of $344,200 and then stopped the contributions. Germany In Germany, the Company has numerous defined benefit pension plans which are all closed to new members. In the majority of the plans, upon retirement of employees, the benefits are in the form of a monthly pension and in a few plans, the employees receive an indemnity in the form of a lump-sum payment. About one third of the plans are bound by the former Works Council agreements. There are no mandatory funding requirements. The plans are funded by the contributions made by the Company. In some plans, insurance policies are taken out to fund retirement benefit plans. These do not qualify as plan assets and are presented as reimbursement rights, unless they are part of a reinsured support fund or are pledged to the employees. 17. Employee benefits (continued) DEFINED BENEFIT PLANS (CONTINUED) France In France, the retirement indemnities are provided in accordance with the Labour Code. Upon retirement, employees receive an indemnity, depending on the salary and seniority in the Company, in the form of a lump-sum payment. The following tables present amounts for post-employment benefits plans included in the consolidated balance sheets: As at September 30, 2020 U.K. Germany France Other Total $ $ $ $ $ Defined benefit obligations (891,628 ) (104,090 ) (84,442 ) (83,584 ) (1,163,744 ) Fair value of plan assets 977,137 12,766 692 33,829 1,024,424 85,509 (91,324 ) (83,750 ) (49,755 ) (139,320 ) Fair value of reimbursement rights — 22,505 — 1,528 24,033 Net asset (liability) recognized in the balance sheet 85,509 (68,819 ) (83,750 ) (48,227 ) (115,287 ) Presented as: Other long-term assets (Note 10) Insurance contracts held to fund defined benefit pension and life assurance arrangements - reimbursement rights — 22,505 — 1,528 24,033 Retirement benefits assets 85,509 — — 618 86,127 Retirement benefits obligations — (91,324 ) (83,750 ) (50,373 ) (225,447 ) 85,509 (68,819 ) (83,750 ) (48,227 ) (115,287 ) As at September 30, 2019 U.K. Germany France Other Total $ $ $ $ $ Defined benefit obligations (812,179 ) (101,298 ) (58,048 ) (73,059 ) (1,044,584 ) Fair value of plan assets 908,406 12,803 — 26,786 947,995 96,227 (88,495 ) (58,048 ) (46,273 ) (96,589 ) Fair value of reimbursement rights — 22,360 — 1,519 23,879 Net asset (liability) recognized in the balance sheet 96,227 (66,135 ) (58,048 ) (44,754 ) (72,710 ) Presented as: Other long-term assets (Note 10) Insurance contracts held to fund defined benefit pension and life assurance arrangements - reimbursement rights — 22,360 — 1,519 23,879 Retirement benefits assets 96,227 — — 393 96,620 Retirement benefits obligations — (88,495 ) (58,048 ) (46,666 ) (193,209 ) 96,227 (66,135 ) (58,048 ) (44,754 ) (72,710 ) 17. Employee benefits (continued) DEFINED BENEFIT PLANS (CONTINUED) Defined benefit obligations U.K. Germany France Other Total $ $ $ $ $ As at September 30, 2019 812,179 101,298 58,048 73,059 1,044,584 Current service cost 1,060 776 4,665 7,974 14,475 Interest cost 15,253 576 347 2,878 19,054 Business acquisitions (Note 27a) — — 1,732 — 1,732 Actuarial losses (gains) due to change in financial assumptions 1 36,135 (1,258 ) 4,279 1,138 40,294 Actuarial losses due to change in demographic assumptions 1 17,671 — 6,401 — 24,072 Actuarial (gains) losses due to experience 1 (8,033 ) (530 ) 4,054 (1,374 ) (5,883 ) Plan participant contributions 91 — — — 91 Benefits paid from the plan (28,793 ) (1,645 ) — (2,426 ) (32,864 ) Benefits paid directly by employer — (2,787 ) (454 ) (1,832 ) (5,073 ) Foreign currency translation adjustment 1 46,065 7,660 5,370 4,167 63,262 As at September 30, 2020 891,628 104,090 84,442 83,584 1,163,744 Defined benefit obligations of unfunded plans — — 84,442 35,070 119,512 Defined benefit obligations of funded plans 891,628 104,090 — 48,514 1,044,232 As at September 30, 2020 891,628 104,090 84,442 83,584 1,163,744 Defined benefit obligations U.K. Germany France Other Total $ $ $ $ $ As at September 30, 2018 760,244 89,959 55,276 58,594 964,073 Current service cost 889 689 4,251 6,547 12,376 Interest cost 21,261 1,512 950 3,558 27,281 Past service cost 8,239 — — — 8,239 Business acquisitions (Note 27b) — 1,444 — 6,550 7,994 Actuarial losses due to change in financial assumptions 1 99,257 15,253 7,806 7,072 129,388 Actuarial gains due to change in demographic assumptions 1 (6,947 ) (292 ) (6,667 ) (1,802 ) (15,708 ) Actuarial (gains) losses due to experience 1 (16,773 ) 1,065 (11 ) (1,389 ) (17,108 ) Plan participant contributions 102 — — — 102 Benefits paid from the plan (25,395 ) (263 ) — (3,228 ) (28,886 ) Benefits paid directly by employer — (4,020 ) (1,248 ) (1,831 ) (7,099 ) Foreign currency translation adjustment 1 (28,698 ) (4,049 ) (2,309 ) (1,012 ) (36,068 ) As at September 30, 2019 812,179 101,298 58,048 73,059 1,044,584 Defined benefit obligations of unfunded plans — — 58,048 34,690 92,738 Defined benefit obligations of funded plans 812,179 101,298 — 38,369 951,846 As at September 30, 2019 812,179 101,298 58,048 73,059 1,044,584 1 Amounts recognized in other comprehensive income. 17. Employee benefits (continued) DEFINED BENEFIT PLANS (CONTINUED) Plan assets and reimbursement rights U.K. Germany France Other Total $ $ $ $ $ As at September 30, 2019 908,406 35,163 — 28,305 971,874 Interest income on plan assets 17,255 204 3 964 18,426 Business acquisitions (Note 27a) — — 664 — 664 Employer contributions 14,398 2,430 454 6,874 24,156 Return on assets excluding interest income 1 15,976 46 — (396 ) 15,626 Plan participants contributions 91 — — — 91 Benefits paid from the plan (28,793 ) (1,645 ) — (2,426 ) (32,864 ) Benefits paid directly by employer — (2,787 ) (454 ) (1,831 ) (5,072 ) Administration expenses paid from the plan (1,189 ) — — (58 ) (1,247 ) Foreign currency translation adjustment 1 50,993 1,860 25 3,925 56,803 As at September 30, 2020 977,137 35,271 692 35,357 1,048,457 Plan assets 977,137 12,766 692 33,829 1,024,424 Reimbursement rights — 22,505 — 1,528 24,033 As at September 30, 2020 977,137 35,271 692 35,357 1,048,457 Plan assets and reimbursement rights U.K. Germany France Other Total $ $ $ $ $ As at September 30, 2018 787,550 36,420 — 22,903 846,873 Interest income on plan assets 22,271 620 — 2,425 25,316 Employer contributions 24,430 2,765 1,248 7,025 35,468 Return on assets excluding interest income 1 133,821 (784 ) — 669 133,706 Plan participants contributions 102 — — — 102 Benefits paid from the plan (25,395 ) (263 ) — (3,228 ) (28,886 ) Benefits paid directly by employer — (2,576 ) (1,248 ) (1,831 ) (5,655 ) Administration expenses paid from the plan (1,696 ) — — (152 ) (1,848 ) Foreign currency translation adjustment 1 (32,677 ) (1,019 ) — 494 (33,202 ) As at September 30, 2019 908,406 35,163 — 28,305 971,874 Plan assets 908,406 12,803 — 26,786 947,995 Reimbursement rights — 22,360 — 1,519 23,879 As at September 30, 2019 908,406 35,163 — 28,305 971,874 1 Amounts recognized in other comprehensive income. 17. Employee benefits (continued) DEFINED BENEFIT PLANS (CONTINUED) The plan assets at the end of the years consist of: As at September 30, 2020 U.K. Germany France Other Total $ $ $ $ $ Quoted equities 472,318 — — — 472,318 Quoted bonds 93,003 — — — 93,003 Cash 52,230 — — 88 52,318 Other 1 359,586 12,766 692 33,741 406,785 977,137 12,766 692 33,829 1,024,424 As at September 30, 2019 U.K. Germany France Other Total $ $ $ $ $ Quoted equities 366,203 — — — 366,203 Quoted bonds 200,599 — — — 200,599 Cash 111,454 — — 91 111,545 Other 1 230,150 12,803 — 26,695 269,648 908,406 12,803 — 26,786 947,995 1 Other is mainly composed of various insurance policies and quoted investment funds to cover some of the defined benefit obligations. Plan assets do not include any shares of the Company, property occupied by the Company or any other assets used by the Company. The following table summarizes the expense 1 recognized in the consolidated statements of earnings: Year ended September 30 2020 2019 $ $ Current service cost 14,475 12,376 Past service cost — 8,239 Net interest on net defined benefit obligations or assets 629 1,965 Administration expenses 1,247 1,848 16,351 24,428 1 The expense was presented as costs of services, selling and administrative for an amount of $14,475,000 and as net finance costs for an amount of $1,876,000 (Note 26) ( $20,615,000 and $3,813,000 , respectively for the year ended September 30, 2019 ). 17. Employee benefits (continued) DEFINED BENEFIT PLANS (CONTINUED) Actuarial assumptions The following are the principal actuarial assumptions (expressed as weighted averages). The assumed discount rates, future salary and pension increases, inflation rates and mortality all have a significant effect on the accounting valuation. As at September 30, 2020 U.K Germany France Other % % % % Discount rate 1.53 0.65 0.65 3.11 Future salary increases 2.84 2.50 3.79 1.51 Future pension increases 2.82 1.50 — 2.51 Inflation rate 2.84 2.00 2.00 0.08 As at September 30, 2019 U.K. Germany France Other % % % % Discount rate 1.82 0.56 0.56 3.05 Future salary increases 3.03 2.50 3.29 1.07 Future pension increases 3.00 1.50 — 0.06 Inflation rate 3.03 2.00 2.00 2.40 The average longevity over 65 of a member presently at age 45 and 65 are as follows: As at September 30, 2020 U.K. Germany (in years) Longevity at age 65 for current members Males 21.8 20.0 Females 23.7 23.0 Longevity at age 45 for current members Males 23.2 24.0 Females 25.3 26.0 As at September 30, 2019 U.K. Germany (in years) Longevity at age 65 for current members Males 21.8 20.0 Females 23.1 23.0 Longevity at age 45 for current members Males 23.6 24.0 Females 25.2 26.0 17. Employee benefits (continued) DEFINED BENEFIT PLANS (CONTINUED) Actuarial assumptions (continued) Assumptions regarding future mortality are set based on actuarial advice in accordance with published statistics and experience in each country. Mortality assumptions for the most significant countries are based on the following post-retirement mortality tables for the year ended September 30, 2020 : (1) U.K.: 100% S2PxA (year of birth) plus CMI_2018 projections with 1.25% p.a. minimum long term improvement rate, (2) Germany: Heubeck RT2018G and (3) France: INSEE TVTD 2014-2016. The following tables show the sensitivity of the defined benefit obligations to changes in the principal actuarial assumptions: As at September 30, 2020 U.K. Germany France $ $ $ Increase of 0.25% in the discount rate (36,622 ) (3,445 ) (2,936 ) Decrease of 0.25% in the discount rate 38,192 3,632 3,079 Salary increase of 0.25% 441 36 3,091 Salary decrease of 0.25% (437 ) (36 ) (2,962 ) Pension increase of 0.25% 18,528 1,598 — Pension decrease of 0.25% (18,132 ) (1,531 ) — Increase of 0.25% in inflation rate 29,148 1,598 3,091 Decrease of 0.25% in inflation rate (28,207 ) (1,531 ) (2,962 ) Increase of one year in life expectancy 27,126 3,615 558 Decrease of one year in life expectancy (26,843 ) (3,040 ) (592 ) As at September 30, 2019 U.K. Germany France $ $ $ Increase of 0.25% in the discount rate (33,082 ) (3,440 ) (2,027 ) Decrease of 0.25% in the discount rate 34,484 3,632 2,126 Salary increase of 0.25% 408 56 2,132 Salary decrease of 0.25% (404 ) (55 ) (2,044 ) Pension increase of 0.25% 16,758 1,601 — Pension decrease of 0.25% (16,398 ) (1,531 ) — Increase of 0.25% in inflation rate 26,342 1,601 2,132 Decrease of 0.25% in inflation rate (25,490 ) (1,531 ) (2,044 ) Increase of one year in life expectancy 20,884 3,325 384 Decrease of one year in life expectancy (20,824 ) (2,938 ) (406 ) The sensitivity analysis above has been based on a method that extrapolates the impact on the defined benefit obligations as a result of reasonable changes in key assumptions occurring at the end of the year. The weighted average duration of the defined benefit obligations are as follows: Year ended September 30 2020 2019 (in years) U.K. 18 18 Germany 14 14 France 14 14 Other 12 13 17. Employee benefits (continued) DEFINED BENEFIT PLANS (CONTINUED) The Company expects to contribute $7,903,000 to defined benefit plans during the next year, of which $1,657,000 relates to the U.K. plans, and $6,246,000 relates to the other plans. The contributions will include funding payments and new benefit accruals. DEFINED CONTRIBUTION PLANS The Company also operates defined contribution pension plans. In some countries, contributions are made into the state pension plans. The pension cost for defined contribution plans amounted to $228,998,000 in 2020 ( $221,063,000 in 2019 ). In addition, in Sweden, the Company contributes to a multi-employer plan, Alecta SE (Alecta) pension plan, which is a defined benefit pension plan. This pension plan is classified as a defined contribution plan as sufficient information is not available to use defined benefit accounting. Alecta lacks the possibility of establishing an exact distribution of assets and provisions to the respective employers. The Company’s proportion of the total contributions to the plan is 0.40% and the Company’s proportion of the total number of active members in the plan is 0.50% . Alecta uses a collective funding ratio to determine the surplus or deficit in the pension plan. Any surplus or deficit in the plan will affect the amount of future contributions payable. The collective funding is the difference between Alecta’s assets and the commitments to the policy holders and insured individuals. The collective solvency is normally allowed to vary between 125% and 175% . As at September 30, 2020 , Alecta collective funding ratio was 144% ( 142% in 2019 ). The plan expense was $30,269,000 in 2020 ( $32,512,000 in 2019 ). The Company expects to contribute $25,709,000 to the plan during the next year. OTHER BENEFIT PLANS As at September 30, 2020 , the deferred compensation liability totaled $82,221,000 ( $63,838,000 as at September 30, 2019 ) (Note 15) and the deferred compensation assets totaled $73,156,000 ( $62,627,000 as at September 30, 2019 ) (Note 11). The deferred compensation liability is mainly related to plans covering some of its U.S. and German management. Some of the plans include assets that will be used to fund the liabilities. For the deferred compensation plan in the U.S., a trust was established so that the plan assets could be segregated; however, the assets are subject to the Company’s general creditors in the case of bankruptcy. The assets composed of investments vary with employees’ contributions and changes in the value of the investments. The change in liabilities associated with the plan is equal to the change of the assets. The assets in the trust and the associated liabilities totaled $72,743,000 as at September 30, 2020 ( $62,247,000 as at September 30, 2019 ). |
Accumulated other comprehensive
Accumulated other comprehensive income | 12 Months Ended |
Sep. 30, 2020 | |
Analysis Of Other Comprehensive Income By Item [Abstract] | |
Accumulated other comprehensive income | Accumulated other comprehensive income As at As at $ $ Items that will be reclassified subsequently to net earnings: Net unrealized gains on translating financial statements of foreign operations, net of accumulated income tax expense of $56,239 ($63,579 as at September 30, 2019) 1,002,804 596,358 Net losses on cross-currency swaps and on translating long-term debt designated as hedges of net investments in foreign operations, net of accumulated income tax recovery of $63,692 ($67,165 as at September 30, 2019) (417,462 ) (426,376 ) Deferred gains (costs) of hedging on cross-currency swaps, net of accumulated income tax expense of $4,049 (net of accumulated income tax recovery $1,113 as at September 30, 2019) 14,053 (4,091 ) Net unrealized (losses) gains on cash flow hedges, net of accumulated income tax recovery of $2,554 (net of accumulated income tax expense of $13,003 as at September 30, 2019) (5,935 ) 24,157 Net unrealized gains on financial assets at fair value through other comprehensive income, net of accumulated income tax expense of $1,291 ($352 as at September 30, 2019) 4,340 1,486 Items that will not be reclassified subsequently to net earnings: Net remeasurement losses on defined benefit plans, net of accumulated income tax recovery of $18,920 ($8,698 as at September 30, 2019) (52,090 ) (14,840 ) 545,710 176,694 For the year ended September 30, 2020 , $5,616,000 of the net unrealized gains on cash flow hedges, net of income tax expense of $1,648,000 , previously recognized in other comprehensive income were reclassified in the consolidated statements of earnings ( $8,306,000 , net of income tax expense of $4,311,000 , for the year ended September 30, 2019 ). For the year ended September 30, 2020 , $10,268,000 of the deferred gains of hedging on cross-currency swaps, net of income tax expense of $3,702,000 , were also reclassified in the consolidated statements of earnings (deferred costs of $5,203,000 , net of income tax recovery of $1,113,000 , for the year ended September 30, 2019 ). |
Capital stock
Capital stock | 12 Months Ended |
Sep. 30, 2020 | |
Share Capital , Reserves And Other Equity Interest [Abstract] | |
Capital stock | Capital stock The Company's authorized share capital is comprised of an unlimited number, all without par value, of: – First preferred shares, issuable in series, carrying one vote per share, each series ranking equal with other series, but prior to second preferred shares, Class A subordinate voting shares and Class B multiple voting shares with respect to the payment of dividends; – Second preferred shares, issuable in series, non-voting, each series ranking equal with other series, but prior to Class A subordinate voting shares and Class B multiple voting shares with respect to the payment of dividends; – Class A subordinate voting shares, carrying one vote per share, participating equally with Class B multiple voting shares with respect to the payment of dividends and convertible into Class B multiple voting shares under certain conditions in the event of certain takeover bids on Class B multiple voting shares; and – Class B multiple voting shares, carrying ten votes per share, participating equally with Class A subordinate voting shares with respect to the payment of dividends and convertible at any time at the option of the holder into Class A subordinate voting shares. 19. Capital stock (continued) For the fiscal years 2020 and 2019 , the number of issued and outstanding Class A subordinate voting shares and Class B multiple voting shares varied as follows: Class A subordinate voting shares Class B multiple voting shares Total Number Carrying value Number Carrying value Number Carrying value $ $ $ As at September 30, 2018 250,425,114 1,978,210 28,945,706 40,382 279,370,820 2,018,592 Issued upon exercise of stock options 1 1,942,580 77,773 — — 1,942,580 77,773 PSUs exercised 2 — 7,651 — — — 7,651 Purchased and cancelled 3 (12,510,232 ) (169,299 ) — — (12,510,232 ) (169,299 ) Purchased and held in trusts 4 — (30,740 ) — — — (30,740 ) As at September 30, 2019 239,857,462 1,863,595 28,945,706 40,382 268,803,168 1,903,977 Issued upon exercise of stock options 1 1,438,877 69,420 — — 1,438,877 69,420 PSUs exercised 2 — 9,078 — — — 9,078 Purchased and cancelled 3 (10,605,464 ) (165,315 ) — — (10,605,464 ) (165,315 ) Purchased and held in trusts 4 — (55,287 ) — — — (55,287 ) As at September 30, 2020 230,690,875 1,721,491 28,945,706 40,382 259,636,581 1,761,873 1 The carrying value of Class A subordinate voting shares includes $12,269,000 ( $14,070,000 for the year ended September 30, 2019 ), which corresponds to a reduction in contributed surplus representing the value of accumulated compensation costs associated with the stock options exercised during the year. 2 During the year ended September 30, 2020 , 157,788 PSUs were exercised ( 160,694 during the year ended September 30, 2019 ) with a recorded value of $9,078,000 ( $7,651,000 during the year ended September 30, 2019 ) that was removed from contributed surplus. As at September 30, 2020 , 1,243,022 Class A subordinate voting shares were held in trusts under the PSU plans ( 875,480 as at September 30, 2019 ). 3 On January 29, 2020 , the Company’s Board of Directors authorized and subsequently received the regulatory approval from the Toronto Stock Exchange (TSX), for the renewal of the Normal Course Issuer Bid (NCIB) for the purchase for cancellation of up to 20,149,100 Class A subordinate voting shares on the open market through the TSX, the New York Stock Exchange (NYSE) and/or alternative trading systems or otherwise pursuant to exemption orders issued by securities regulators. The Class A subordinate voting shares are available for purchase for cancellation commencing on February 6, 2020 until no later than February 5, 2021, or on such earlier date when the Company has either acquired the maximum number of Class A subordinate voting shares allowable under the NCIB or decided not to make any further purchases for cancellation under it. During the year ended September 30, 2020 , the Company purchased for cancellation 6,008,905 Class A subordinate voting shares from the Caisse de dépôt et placement du Québec for a cash consideration of $600,000,000 ( 5,158,362 and $500,000,000 , respectively during the year ended September 30, 2019 ). The excess of the purchase price over the carrying value in the amount of $471,455,000 was charged to retained earnings ( $389,651,000 during the year ended September 30, 2019 ). The purchase was made pursuant to an exemption order issued by the Autorité des marchés financiers and is considered within the annual aggregate limit that the Company is entitled to purchase under its current NCIB. In addition, during the year ended September 30, 2020 , the Company purchased for cancellation 4,596,559 Class A subordinate voting shares ( 7,301,870 during the year ended September 30, 2019 ) under its previous and current NCIB for a cash consideration of $443,517,000 ( $626,075,000 during the year ended September 30, 2019 ) and the excess of the purchase price over the carrying value in the amount of $406,747,000 ( $567,125,000 during the year ended September 30, 2019 ) was charged to retained earnings. 4 During the year ended September 30, 2020 , the trustees, in accordance with the terms of the PSU plans and Trust Agreements, purchased 525,331 Class A subordinate voting shares of the Company on the open market ( 374,995 during the year ended September 30, 2019 ) for a cash consideration of $55,287,000 ( $30,740,000 during the year ended September 30, 2019 ). |
Share-based payments
Share-based payments | 12 Months Ended |
Sep. 30, 2020 | |
Share-Based Payment Arrangements [Abstract] | |
Share-based payments | Share-based payments a) Stock options Under the Company’s stock option plan, the Board of Directors may grant, at its discretion, stock options to purchase Class A subordinate voting shares to certain employees, officers and directors of the Company and its subsidiaries. The exercise price is established by the Board of Directors and is equal to the closing price of the Class A subordinate voting shares on the TSX on the day preceding the date of the grant. Stock options generally vest over four years from the date of grant conditionally upon achievement of performance objectives and must be exercised within a ten -year period, except in the event of retirement, termination of employment or death. As at September 30, 2020 , 24,442,509 Class A subordinate voting shares were reserved for issuance under the stock option plan. The following table presents information concerning the outstanding stock options granted by the Company: 2020 2019 Number of options Weighted average exercise price per share Number of options Weighted average exercise price per share $ $ Outstanding, beginning of year 9,891,592 54.64 12,830,826 52.01 Granted 913,560 110.65 52,735 82.59 Exercised (Note 19) (1,438,877 ) 39.72 (1,942,580 ) 32.81 Forfeited (431,223 ) 84.50 (1,045,783 ) 64.11 Expired (955 ) 74.55 (3,606 ) 34.79 Outstanding, end of year 8,934,097 61.33 9,891,592 54.64 Exercisable, end of year 5,748,402 49.02 5,460,470 41.32 The weighted average share price at the date of exercise for stock options exercised in 2020 was $99.79 ( $93.68 in 2019 ). The following table summarizes information about the outstanding stock options granted by the Company as at September 30, 2020 : Options outstanding Options exercisable Range of Number of options Weighted Weighted Number of options Weighted average exercise price $ (in years) $ $ 14.48 to 38.79 1,945,743 2.70 29.83 1,945,743 29.83 39.47 to 50.94 1,356,156 4.68 45.21 1,356,156 45.21 52.63 to 63.72 3,235,718 6.43 63.00 2,019,298 62.87 67.04 to 87.65 1,523,387 7.92 84.05 426,416 82.94 102.79 to 110.73 873,093 9.17 110.70 789 102.79 8,934,097 5.87 61.33 5,748,402 49.02 20. Share-based payments (continued) a) Stock options (continued) The weighted average fair value of stock options granted in the year and the weighted average assumptions used in the calculation of their fair value on the date of grant using the Black-Scholes option pricing model were as follows: Year ended September 30 2020 2019 Grant date fair value ($) 17.71 16.24 Dividend yield (%) 0.00 0.00 Expected volatility (%) 1 16.60 19.79 Risk-free interest rate (%) 1.55 2.26 Expected life (years) 4.00 4.00 Exercise price ($) 110.65 82.59 Share price ($) 110.65 82.59 1 Expected volatility was determined using statistical formulas and based on the weekly historical average of closing daily share prices over the period of the expected life of stock options. b) Performance share units The Company operates two PSU plans with similar terms and conditions. Under both plans, the Board of Directors may grant PSUs to certain employees and officers which entitle them to receive one Class A subordinate voting share for each PSU. The vesting performance conditions are determined by the Board of Directors at the time of each grant. PSUs expire on the business day preceding December 31 of the third calendar year following the end of the fiscal year during which the PSU award was made, except in the event of retirement, termination of employment or death. Conditionally upon achievement of performance objectives, granted PSUs under the first plan vest annually over a period of four years from the date of the grant and granted PSUs under the second plan vest at the end of the four -year period. Class A subordinate voting shares purchased in connection with the PSU plans are held in trusts for the benefit of the participants. The trusts, considered as structured entities, are consolidated in the Company’s consolidated financial statements with the cost of the purchased shares recorded as a reduction of capital stock (Note 19). The following table presents information concerning the number of outstanding PSUs granted by the Company: Outstanding as at September 30, 2018 658,732 Granted 1 472,187 Exercised (Note 19) (160,694 ) Forfeited (108,740 ) Outstanding as at September 30, 2019 861,485 Granted 1 607,342 Exercised (Note 19) (157,788 ) Forfeited (79,569 ) Outstanding as at September 30, 2020 1,231,470 1 The PSUs granted in 2020 had a grant date fair value of $107.39 per unit ( $83.24 in 2019 ). c) Share purchase plan Under the share purchase plan, the Company contributes an amount equal to a percentage of the employee's basic contribution, up to a maximum of 3.50% . An employee may make additional contributions in excess of the basic contribution. However, the Company does not match contributions in the case of such additional contributions. The employee and Company's contributions are remitted to an independent plan administrator who purchases Class A subordinate voting shares on the open market on behalf of the employee through either the TSX or NYSE. 20. Share-based payments (continued) d) Deferred share unit plan External members of the Board of Directors (participants) are entitled to receive part or their entire retainer fee in DSUs. DSUs are granted with immediate vesting and must be exercised no later than December 15 of the calendar year immediately following the calendar year during which the participant ceases to act as a director. Each DSU entitles the holder to receive a cash payment equal to the closing price of Class A subordinate voting shares on the TSX on the payment date. As at September 30, 2020 , the number of outstanding DSUs was 152,743 ( 137,571 DSUs as at September 30, 2019 ). e) Share-based payment costs The share-based payment expense recorded in costs of services, selling and administrative is as follows: Year ended September 30 2020 2019 $ $ Stock options 16,378 21,674 PSUs 20,979 17,766 Share purchase plan 127,983 115,287 DSUs (607 ) 3,334 164,733 158,061 |
Earnings per share
Earnings per share | 12 Months Ended |
Sep. 30, 2020 | |
Earnings per share [abstract] | |
Earnings per share | Earnings per share The following table sets forth the computation of basic and diluted earnings per share for the years ended September 30: 2020 2019 Net earnings Weighted average number of shares outstanding 1 Earnings per share Net earnings Weighted average number of shares outstanding 1 Earnings per share $ $ $ $ Basic 1,117,862 262,005,521 4.27 1,263,207 272,719,309 4.63 Net effect of dilutive stock options and PSUs 2 4,098,541 5,066,415 1,117,862 266,104,062 4.20 1,263,207 277,785,724 4.55 1 During the year ended September 30, 2020 , 10,605,464 Class A subordinate voting shares purchased for cancellation and 1,243,022 Class A subordinate voting shares held in trust were excluded from the calculation of weighted average number of shares outstanding as of the date of transaction ( 12,460,232 and 875,480 , respectively during the year ended September 30, 2019 ). 2 The calculation of the diluted earnings per share excluded 876,213 stock options for the year ended September 30, 2020 ( 1,716,774 for the year ended September 30, 2019 ), as they were anti-dilutive. |
Remaining performance obligatio
Remaining performance obligations | 12 Months Ended |
Sep. 30, 2020 | |
Disclosure of performance obligations [abstract] | |
Remaining performance obligations | Remaining performance obligations Remaining performance obligations relates to Company’s performance obligations that are partially or fully unsatisfied under fixed-fee arrangements. The amount of the selling price allocated to remaining performance obligations as at September 30, 2020 is $824,854,000 ( $964,052,000 as at September 30, 2019) and is expected to be recognized as revenue within a weighted average of 1.4 years ( 1.6 years as at September 30, 2019). |
Cost of services, selling and a
Cost of services, selling and administrative | 12 Months Ended |
Sep. 30, 2020 | |
Analysis of income and expense [abstract] | |
Cost of services, selling and administrative | Costs of services, selling and administrative Year ended September 30 2020 2019 $ $ Salaries and other member costs 1 7,264,839 7,158,588 Professional fees and other contracted labour 1,355,065 1,439,915 Hardware, software and data center related costs 800,496 873,158 Property costs 259,306 363,812 Amortization, depreciation and impairment (Note 24) 556,061 388,087 Other operating expenses 66,301 60,447 10,302,068 10,284,007 1 Net of R&D and other tax credits of $160,335,000 in 2020 ( $171,389,000 in 2019 ). |
Amortization, depreciation and
Amortization, depreciation and impairment | 12 Months Ended |
Sep. 30, 2020 | |
Analysis of income and expense [abstract] | |
Amortization, depreciation and impairment | Amortization, depreciation and impairment Year ended September 30 2020 2019 $ $ Depreciation of PP&E (Note 6) 156,590 159,264 Depreciation of right-of-use assets (Note 7) 168,239 — Impairment of right-of-use assets (Note 7) 3,269 — Amortization of contract costs related to transition costs 55,905 64,263 Impairment of contract costs related to transition costs 4,047 — Amortization of intangible assets (Note 9) 157,378 164,560 Impairment of intangible assets (Note 9) 10,633 — Included in costs of services, selling and administrative (Note 23) 556,061 388,087 Amortization of contract costs related to incentives (presented as a reduction of revenue) 2,535 2,919 Amortization of deferred financing fees (presented in finance costs) 890 1,012 Amortization of premiums and discounts on investments related to funds held for clients (presented net as a reduction of revenue) 79 283 Impairment of PP&E (presented in restructuring costs) (Note 6 and 25) 1,035 — Impairment of right-of-use assets (presented in restructuring costs) (Note 7 and 25) 5,092 — 565,692 392,301 |
Restructuring costs
Restructuring costs | 12 Months Ended |
Sep. 30, 2020 | |
Restructuring And Related Activities 1 [Abstract] | |
Restructuring costs | Restructuring costs During the year ended September 30, 2020, the Company incurred restructuring costs related to terminations of employment primarily in France, Canada and Germany, in relation with the COVID-19 impacts. During the year ended September 30, 2020, the Company also announced a restructuring plan mainly for the closure of the Brazil operations, the refocusing of the Portugal infrastructure business towards nearshore delivery and the optimization of the Sweden infrastructure business. The Company recorded $155,411,000 of restructuring costs during the year ended September 30, 2020 (nil during the year ended September 30, 2019). This amount includes restructuring costs for terminations of employment of $144,202,000 , accounted for in restructuring provisions, impairment of PP&E of $1,035,000 (Notes 6 and 24), impairment of right-of-use assets of $5,092,000 (Note 24), as well as other restructuring costs of $5,082,000 . |
Net finance costs
Net finance costs | 12 Months Ended |
Sep. 30, 2020 | |
Analysis of income and expense [abstract] | |
Net finance costs | Net finance costs Year ended September 30 2020 2019 $ $ Interest on long-term debt 75,667 63,312 Interest on lease liabilities (Note 3) 33,017 — Net interest costs on net defined benefit obligations or assets (Note 17) 1,876 3,813 Other finance costs 9,029 15,071 Finance costs 119,589 82,196 Finance income (5,115 ) (11,566 ) 114,474 70,630 |
Investments in subsidiaries
Investments in subsidiaries | 12 Months Ended |
Sep. 30, 2020 | |
Business Combinations 1 [Abstract] | |
Investments in subsidiaries | Investments in subsidiaries a) Business acquisitions realized in current fiscal year The Company made the following significant acquisitions during the year ended September 30, 2020 : – On December 18, 2019, the Company acquired all of the outstanding shares of SCISYS Group Plc (SCISYS), for a purchase price of $130,260,000 . Predominantly based in United Kingdom and Germany, SCISYS operates in several sectors, with deep expertise and industry leading solutions in the space and defense sectors, as well as in the media and broadcast news industries, headquartered in Dublin, Ireland. – On January 20, 2020, the Company acquired all of the outstanding shares of Meti Logiciels et Services SAS (Meti), for a purchase price of $43,404,000 . Based in France, Meti is specialized in the development of software solutions for the retail sector across Europe and works with some of Europe's largest retailers. – On March 31, 2020, the Company acquired all of the outstanding shares of TeraThink Corporation (TeraThink), for a purchase price of $99,388,000 . Based in the United States, TeraThink is an information technology and management consulting firm providing digitization, enterprise finance, risk management, and data analytics services to the U.S. federal government and is headquartered in Reston, Virginia. The following table presents the fair value of assets acquired and liabilities assumed for all acquisitions based on the acquisition-date fair values of the identifiable tangible and intangible assets acquired and liabilities assumed: SCISYS TeraThink Other Total $ $ $ $ Current assets 28,461 14,227 12,995 55,683 PP&E (Note 6) 16,893 1,369 638 18,900 Right-of-use assets (Note 7) 3,362 4,228 4,269 11,859 Intangible assets (Note 9) 16,837 19,025 10,661 46,523 Goodwill 1 (Note 12) 144,712 86,642 37,683 269,037 Current liabilities (68,254 ) (13,910 ) (14,414 ) (96,578 ) Deferred tax liabilities (3,030 ) — (1,507 ) (4,537 ) Retirement benefits obligations (Note 17) — — (1,068 ) (1,068 ) Long-term debt (10,880 ) (9,732 ) (122 ) (20,734 ) Lease liabilities (4,336 ) (4,935 ) (4,321 ) (13,592 ) 123,765 96,914 44,814 265,493 Cash acquired 6,495 2,474 7,035 16,004 Net assets acquired 130,260 99,388 51,849 281,497 Consideration paid 130,260 99,388 51,849 281,497 1 The goodwill arising from the acquisitions mainly represents the future economic value associated to acquired work force and synergies with the Company’s operations. As at September 30, 2020 , $32,272,000 of the goodwill is included in the Western and Southern Europe operating segment, $5,411,000 in the Canada operating segment, $86,642,000 in the U.S. Federal operating segment, $53,170,000 in the U.K and Australia operating segment and $91,542,000 in the Central and Eastern Europe operating segment. The goodwill is only deductible for tax purposes for TeraThink. 27. Investments in subsidiaries (continued) a) Business acquisitions realized in current fiscal year (continued) The fair value of assets acquired and liabilities assumed for SCISYS, TeraThink and Meti are preliminary and are expected to be completed as soon as management will have gathered all the information available and considered necessary in order to finalize this allocation. For the year ended September 30, 2020 , the above significant acquisitions would have contributed approximately $250,000,000 of revenues and individually between 6.0% and 10.5% of earnings before acquisition-related and integration costs, and income taxes to the financial results of the Company had the acquisition dates been October 1, 2019. These figures are indicative of the actual contribution when considering the specific dates of acquisition. With significant strategic consulting, system integration and customer-centric digital innovation capabilities, these acquisitions were made to complement CGI's proximity model and expertise across key sectors, including communications, retail, space and defense and government. b) Business acquisitions realized in the prior fiscal year The Company made the following acquisitions during the year ended September 30, 2019 : – On October 11, 2018, the Company acquired all outstanding shares of ckc AG (ckc), a specialized provider of agile software development and management services, with a focus on the automotive sector, headquartered in Brunswick, Germany. – During the year, the Company acquired the control of Acando AB (Acando), a consulting services firm headquartered in Stockholm, Sweden, through a step acquisition. In March 2019, the Company acquired 22.6% of the outstanding shares of Acando which was accounted for as an investment in an associate using the equity method. On April 16, 2019, the Company acquired control of Acando through the acquisition of an additional 71.1% of the outstanding shares under a tender offer and by May 14, 2019, an additional 2.4% was acquired. The remaining 3.9% of the outstanding shares, which are included in accounts payable and accrued liabilities in the consolidated balance sheet, were acquired on October 11, 2019. – On August 30, 2019, the Company acquired all outstanding shares of Annams Systems Corporation d/b/a Sunflower Systems (Sunflower), a specialized provider of asset management software, solutions and services, headquartered in San Ramon, California. With strategic consulting, system integration and customer-centric digital innovation capabilities, these acquisitions were made to complement CGI's proximity model and expertise across key sectors, including manufacturing, retail and government. 27. Investments in subsidiaries (continued) b) Business acquisitions realized in the prior fiscal year (continued) The following table presents the fair value of assets acquired and liabilities assumed for all the above acquisitions based on the acquisition-date fair values of the identifiable tangible and intangible assets acquired and liabilities assumed. During the year ended September 30, 2019 , the Company finalized the fair value of assets acquired and liabilities assumed for ckc. The fair value of assets acquired and liabilities assumed for Acando and Sunflower were preliminary. Acando Other Total $ $ $ Current assets 105,298 14,674 119,972 PP&E ( Note 6) 6,404 1,271 7,675 Intangible assets (Note 9) 102,889 9,855 112,744 Goodwill 1 555,921 31,916 587,837 Current liabilities (120,746 ) (12,735 ) (133,481 ) Deferred tax liabilities (25,966 ) (1,324 ) (27,290 ) Retirement benefits obligations (Note 17) (6,550 ) (1,444 ) (7,994 ) Long-term debt (9,828 ) — (9,828 ) 607,422 42,213 649,635 Cash acquired 16,348 (2,481 ) 13,867 Net assets acquired 623,770 39,732 663,502 Consideration paid 599,744 37,738 637,482 Consideration payable 24,026 1,994 26,020 1 The goodwill arising from the acquisitions mainly represents the future economic value associated to acquired work force and synergies with the Company’s operations. As at September 30, 2019 , $465,209,000 of the goodwill is included in the Scandinavia operating segment, $90,943,000 in the Central and Eastern Europe operating segment, $17,730,000 in the Finland, Poland and Baltics operating segment and $13,955,000 in the U.S. Federal operating segment. The goodwill is only deductible for tax purposes for Sunflower. During fiscal year 2019, the Company acquired 96.1% of the outstanding shares of Acando and the remaining 3.9% on October 11, 2019 for $23,123,000 . During the year ended September 30, 2020, the Company finalized the fair value of assets acquired and liabilities assumed for Acando and Sunflower with no significant adjustments. c) Acquisition-related and integration costs During the year ended September 30, 2020, the Company expensed $76,794,000 , for acquisition-related and integration costs. This amount includes acquisition-related costs of $6,545,000 , and integration costs of $70,249,000 . The acquisition-related costs consist mainly of professional fees incurred for the acquisitions. The integration costs mainly include terminations of employment of $49,390,000 , accounted for in restructuring provisions, as well as other integration costs of $20,859,000 . During the year ended September 30, 2019, the Company expensed $77,417,000 , for acquisition-related and integration costs. This amount included acquisition-related costs of $1,992,000 , and integration costs of $75,425,000 . The acquisition-related costs consist mainly of professional fees incurred for the acquisitions. The integration costs mainly include terminations of employment of $56,268,000 , accounted for in restructuring provisions, as well as other integration costs of $19,157,000 . d) Disposal There was no significant disposal during the years ended September 30, 2020 and 2019 . |
Supplementary cash flow informa
Supplementary cash flow information | 12 Months Ended |
Sep. 30, 2020 | |
Cash Flow Statement [Abstract] | |
Supplementary cash flow information | Supplementary cash flow information a) Net change in non-cash working capital items is as follows for the years ended September 30: 2020 2019 $ $ Accounts receivable 225,441 205,549 Work in progress 79,809 (161,031 ) Prepaid expenses and other assets 21,342 (22,238 ) Long-term financial assets (12,081 ) (3,547 ) Accounts payable and accrued liabilities (106,828 ) (54,822 ) Accrued compensation (17,472 ) 13,112 Deferred revenue (48,264 ) (22,659 ) Provisions 76,671 737 Long-term liabilities 59,822 19,353 Retirement benefits obligations (4,022 ) (2,814 ) Derivative financial instruments 373 (271 ) Income taxes (56,627 ) (27,620 ) 218,164 (56,251 ) b) Non-cash operating and investing activities related to operations are as follows for the years ended September 30: 2020 2019 $ $ Operating activities Accounts payable and accrued liabilities 4,788 14,573 Provisions 690 2,512 5,478 17,085 Investing activities Purchase of PP&E (4,698 ) (14,913 ) Additions, disposals/retirements and change in estimates and lease modifications of right-of-use assets (102,584 ) — Additions to intangible assets (780 ) (14,267 ) (108,062 ) (29,180 ) 28. Supplementary cash flow information (continued) c) Changes arising from financing activities are as follows for the years ended September 30: 2020 2019 Long-term debt Derivative financial instruments to hedge long-term debt Lease liabilities Long-term debt Derivative financial instruments to hedge long-term debt $ $ $ $ $ Balance, beginning of year 2,331,207 (29,894 ) — 1,800,893 43,217 Adoption of IFRS 16 (Note 3) (30,339 ) — 911,525 — — Balance as at October 1, 2019 2,300,868 (29,894 ) 911,525 1,800,893 43,217 Cash used in financing activities excluding equity Net change in unsecured committed revolving credit facility (334,370 ) — — 139,575 — Increase of long-term debt 1,807,167 — — 686,810 — Repayment of long-term debt and lease liabilities (106,496 ) — (175,320 ) (355,406 ) — Repayment of debt assumed in business acquisitions (28,281 ) — — (2,141 ) — Settlement of derivative financial instruments (Note 32) — (3,903 ) — — (554 ) Non-cash financing activities Additions, disposals/retirements and change in estimates and lease modifications of right-of-use assets (New obligations under finance leases for 2019) — — 102,584 12,095 — Additions through business acquisitions (Note 27) 19,333 — 13,592 9,828 — Changes in foreign currency exchange rates (77,126 ) 66,031 31,766 25,304 (72,557 ) Other 6,000 — (7,777 ) 14,249 — Balance, end of year 3,587,095 32,234 876,370 2,331,207 (29,894 ) d) Interest paid and received and income taxes paid are classified within operating activities and are as follows for the years ended September 30: 2020 2019 $ $ Interest paid 180,453 102,108 Interest received 5,116 3,080 Income taxes paid 390,867 386,953 e) Cash and cash equivalents consisted of unrestricted cash as at September 30, 2020 and 2019 . |
Segmented information
Segmented information | 12 Months Ended |
Sep. 30, 2020 | |
Operating segments [Abstract] | |
Segmented information | Segmented information The following tables present information on the Company's operations based on its revised management structure. Segment results are based on the location from which the services are delivered - the geographic delivery model. The Company has retrospectively revised the segmented information for the comparative period to conform to the new segmented information structure (Note 12). Year ended September 30, 2020 Western and Southern Europe U.S. Commercial and State Government Canada U.S. Federal U.K. and Australia Central and Eastern Europe Scandinavia Finland, Poland and Baltics Asia Pacific Eliminations Total $ $ $ $ $ $ $ $ $ $ $ Segment revenue 1,911,477 1,863,467 1,686,269 1,712,244 1,358,469 1,212,196 1,104,121 777,152 674,946 (136,226 ) 12,164,115 Segment earnings before acquisition-related and integration costs, restructuring costs, net finance costs and income tax expense 1 264,009 295,795 364,424 221,793 215,924 122,548 57,231 120,959 200,263 — 1,862,946 Acquisition-related and integration costs (Note 27) (76,794 ) Restructuring costs (Note 25) (155,411 ) Net finance costs (Note 26) (114,474 ) Earnings before income taxes 1,516,267 1 Total amortization and depreciation of $558,675,000 included in the Western and Southern Europe, U.S. Commercial and State Government, Canada, U.S. Federal, U.K. and Australia, Central and Eastern Europe, Scandinavia, Finland, Poland and Baltics and Asia Pacific segments is $64,084,000 , $89,150,000 , $69,921,000 , $47,443,000 , $68,346,000 , $84,592,000 , $71,590,000 , $39,055,000 and $24,494,000 , respectively for the year ended September 30, 2020 . Amortization includes impairments of $14,680,000 from business solutions and contract costs which are mainly included in U.S. Commercial and State Government for $3,396,000 of business solutions, Canada for $3,589,000 of business solutions and Finland, Poland and Baltics for $4,065,000 of contract costs and a business solution. These assets were no longer expected to generate future economic benefits. Year ended September 30, 2019 Western and Southern Europe U.S. Commercial and State Government Canada U.S. Federal U.K. and Australia Central and Eastern Europe Scandinavia Finland, Poland and Baltics Asia Pacific Eliminations Total $ $ $ $ $ $ $ $ $ $ $ Segment revenue 2,022,677 1,834,917 1,768,924 1,597,922 1,356,858 1,166,486 1,095,330 787,640 606,252 (125,770 ) 12,111,236 Segment earnings before acquisition-related and integration costs, net finance costs and income tax expense 1 275,535 333,210 359,089 230,054 185,290 100,244 76,648 118,771 146,154 — 1,824,995 Acquisition-related and integration costs (Note 27) (77,417 ) Net finance costs (Note 26) (70,630 ) Earnings before income taxes 1,676,948 1 Total amortization and depreciation of $391,289,000 included in the Western and Southern Europe, U.S. Commercial and State Government, Canada, U.S. Federal, U.K. and Australia, Central and Eastern Europe, Scandinavia, Finland, Poland and Baltics and Asia Pacific segments is $42,558,000 , $73,647,000 , $62,486,000 , $27,433,000 , $67,110,000 , $37,314,000 , $26,534,000 , $38,968,000 and $15,239,000 , respectively for the year ended September 30, 2019 . The accounting policies of each operating segment are the same as those described in Note 3, Summary of significant accounting policies. Intersegment revenue is priced as if the revenue was from third parties. 29. Segmented information (continued) GEOGRAPHIC INFORMATION The following table provides external revenue information based on the client’s location which is different from the revenue presented under operating segments, due to the intersegment revenue, for the years ended September 30: 2020 2019 $ $ Western and Southern Europe France 1,672,355 1,761,861 Others 239,053 264,252 1,911,408 2,026,113 U.S. 1 3,637,070 3,474,418 Canada 1,820,265 1,881,364 U.K. and Australia U.K. 1,508,719 1,480,627 Australia 63,708 75,268 1,572,427 1,555,895 Central and Eastern Europe Germany 718,166 655,713 Netherlands 465,340 463,633 Others 68,537 74,271 1,252,043 1,193,617 Scandinavia Sweden 835,682 854,565 Others 322,711 297,101 1,158,393 1,151,666 Finland, Poland and Baltics Finland 766,732 785,285 Others 37,269 37,179 804,001 822,464 Asia Pacific Others 8,508 5,699 8,508 5,699 12,164,115 12,111,236 1 External revenue included in the U.S Commercial and State Government and U.S. Federal operating segments was $1,902,661,000 and $1,734,409,000 , respectively in 2020 ( $1,853,154,000 and $1,621,264,000 , respectively in 2019 ). 29. Segmented information (continued) GEOGRAPHIC INFORMATION (CONTINUED) The following table provides information for PP&E, right-of-use assets (only as at September 30, 2020), contract costs and intangible assets based on their location: As at As at $ $ U.S. 487,698 367,415 Canada 412,469 292,291 U.K. 138,391 103,803 France 137,307 45,501 Sweden 162,506 125,987 Finland 93,948 46,828 Germany 107,809 47,800 Netherlands 64,551 22,187 Rest of the world 195,970 86,796 1,800,649 1,138,608 INFORMATION ABOUT SERVICES The following table provides revenue information based on services provided by the Company for the year ended September 30: 2020 2019 $ $ Systems integration and consulting 5,554,622 5,998,486 Management of IT and business functions 6,609,493 6,112,750 12,164,115 12,111,236 MAJOR CLIENT INFORMATION Contracts with the U.S. federal government and its various agencies, included within the U.S. Federal operating segment, accounted for $1,675,326,000 and 13.8% of revenues for the year ended September 30, 2020 ( $1,554,933,000 and 12.8% for the year ended September 30, 2019 ). |
Related party transactions
Related party transactions | 12 Months Ended |
Sep. 30, 2020 | |
Related Party [Abstract] | |
Related party transactions | Related party transactions a) Transactions with subsidiaries and other related parties Balances and transactions between the Company and its subsidiaries have been eliminated on consolidation. The Company owns 100% of the equity interests of its principal subsidiaries. The Company’s principal subsidiaries whose revenues, based on the geographic delivery model, represent more than 3% of the consolidated revenues are as follows: Name of subsidiary Country of incorporation CGI Technologies and Solutions Inc. United States CGI France SAS France CGI Federal Inc. United States CGI IT UK Limited United Kingdom CGI Information Systems and Management Consultants Inc. Canada Conseillers en gestion et informatique CGI Inc. Canada CGI Sverige AB Sweden CGI Deutschland B.V. & Co KG Germany CGI Suomi Oy Finland CGI Information Systems and Management Consultants Private Limited India CGI Nederland BV Netherlands b) Compensation of key management personnel Compensation of key management personnel, currently defined as the executive officers and the Board of Directors of the Company, was as follows for the year ended September 30: 2020 2019 $ $ Short-term employee benefits 14,462 22,185 Share-based payments 22,122 23,991 |
Commitments, contingencies and
Commitments, contingencies and guarantees | 12 Months Ended |
Sep. 30, 2020 | |
Other Provisions, Contingent Liabilities And Contingent Assets [Abstract] | |
Commitments, contingencies and guarantees | Commitments, contingencies and guarantees a) Commitments As at September 30, 2020 , the Company entered into long-term service agreements representing a total commitment of $235,781,000 . Minimum payments under these agreements are due as follows: $ Less than one year 124,776 Between one and three years 110,790 Between three and five years 215 b) Contingencies From time to time, the Company is involved in legal proceedings, audits, litigation and claims which primarily relate to tax exposure, contractual disputes and employee claims arising in the ordinary course of its business. Certain of these matters seek damages in significant amounts and will ultimately be resolved when one or more future events occur or fail to occur. Although the outcome of such matters is not predictable with assurance, the Company has no reason to believe that the disposition of any such current matter could reasonably be expected to have a materially adverse impact on the Company’s financial position, results of operations or the ability to carry on any of its business activities. Claims for which there is a probable unfavourable outcome are recorded in provisions. In addition, the Company is engaged to provide services under contracts with various government agencies. Some of these contracts are subject to extensive legal and regulatory requirements and, from time to time, government agencies investigate whether the Company’s operations are being conducted in accordance with these requirements. Generally, the governments agencies have the right to change the scope of, or terminate, these projects at its convenience. The termination or reduction in the scope of a major government contract or project could have a materially adverse effect on the results of operations and the financial condition of the Company. c) Guarantees Sale of assets and business divestitures In connection with the sale of assets and business divestitures, the Company may be required to pay counterparties for costs and losses incurred as the result of breaches in contractual obligations, representations and warranties, intellectual property right infringement and litigation against counterparties, among others. While some of the agreements specify a maximum potential exposure, others do not specify a maximum amount or limited period. It is not possible to reasonably estimate the maximum amount that may have to be paid under such guarantees. The amounts are dependent upon the outcome of future contingent events, the nature and likelihood of which cannot be determined at this time. No amount has been accrued in the consolidated balance sheets relating to this type of indemnification as at September 30, 2020 . The Company does not expect to incur any potential payment in connection with these guarantees that could have a materially adverse effect on its consolidated financial statements. Other transactions In the normal course of business, the Company may provide certain clients, principally governmental entities, with bid and performance bonds. In general, the Company would only be liable for the amount of the bid bonds if the Company refuses to perform the project once the bid is awarded. The Company would also be liable for the performance bonds in the event of default in the performance of its obligations. As at September 30, 2020 , the Company had committed a total of $32,130,000 of these bonds. To the best of its knowledge, the Company is in compliance with its performance obligations under all service contracts for which there is a bid or performance bond, and the ultimate liability, if any, incurred in connection with these guarantees, would not have a materially adverse effect on the Company’s consolidated results of operations or financial condition. Moreover, the Company has letters of credit for a total of $76,795,000 in addition to the letters of credit covered by the unsecured committed revolving credit facility (Note 14). These guarantees are required in some of the Company’s contracts with customers. |
Financial instruments
Financial instruments | 12 Months Ended |
Sep. 30, 2020 | |
Financial Instruments [Abstract] | |
Financial instruments | Financial instruments FAIR VALUE MEASUREMENTS Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Valuation techniques used to value financial instruments are as follows: - The fair value of Senior U.S. and euro unsecured notes, the unsecured committed revolving credit facility, the unsecured committed term loan credit facilities and the other long-term debt is estimated by discounting expected cash flows at rates currently offered to the Company for debts of the same remaining maturities and conditions; - The fair value of long-term bonds included in funds held for clients and in long-term investments is determined by discounting the future cash flows using observable inputs, such as interest rate yield curves or credit spreads, or according to similar transactions on an arm's-length basis; - The fair value of foreign currency forward contracts is determined using forward exchange rates at the end of the reporting period; - The fair value of cross-currency swaps and interest rate swaps is determined based on market data (primarily yield curves, exchange rates and interest rates) to calculate the present value of all estimated cash flows; - The fair value of cash and cash equivalents is determined using observable quotes; and - The fair value of deferred compensation plan assets within long-term financial assets is based on observable price quotations and net assets values at the reporting date. As at September 30, 2020 , there were no changes in valuation techniques. The following table presents the financial liabilities included in the long-term debt (Note 14) measured at amortized cost categorized using the fair value hierarchy. As at September 30, 2020 As at September 30, 2019 Level Carrying amount Fair value Carrying amount Fair value $ $ $ $ Senior U.S. and euro unsecured notes Level 2 1,211,965 1,297,632 1,256,554 1,330,809 Obligations under finance leases Level 2 — — 30,339 29,792 Other long-term debt Level 2 44,842 43,536 48,005 46,743 1,256,807 1,341,168 1,334,898 1,407,344 For the remaining financial assets and liabilities measured at amortized cost, the carrying values approximate the fair values of the financial instruments given their short term maturity. During the year ended September 30, 2020, the Company entered into the 2020 Term Loan for a total principal amount of U.S. $1,250,000,000 . The 2020 Term Loan was designated as a hedge of a portion of the Company’s net investment in its U.S. operations. 32. Financial instruments (continued) FAIR VALUE MEASUREMENTS (CONTINUED) The following table presents financial assets and liabilities measured at fair value categorized using the fair value hierarchy: Level As at September 30, 2020 As at September 30, 2019 $ $ Financial assets FVTE Cash and cash equivalents Level 2 1,707,985 213,831 Deferred compensation plan assets (Note 11) Level 1 73,156 62,627 1,781,141 276,458 Derivative financial instruments designated as hedging instruments Current derivative financial instruments included in current financial assets Level 2 Cross-currency swaps — 4,243 Foreign currency forward contracts 17,027 25,799 Long-term derivative financial instruments (Note 11) Level 2 Cross-currency swaps 25,362 45,193 Foreign currency forward contracts 8,636 25,069 Interest rate swaps 6,180 1,380 57,205 101,684 FVOCI Short-term investments included in current financial assets Level 2 1,473 9,889 Long-term bonds included in funds held for clients (Note 5) Level 2 148,470 180,289 Long-term investments (Note 11) Level 2 22,612 24,596 172,555 214,774 Financial liabilities Derivative financial instruments designated as hedging instruments Current derivative financial instruments Level 2 Cross-currency swaps 5,320 2,982 Foreign currency forward contracts 3,008 1,920 Long-term derivative financial instruments Level 2 Cross-currency swaps 52,275 16,560 Foreign currency forward contracts 4,347 1,762 64,950 23,224 There have been no transfers between Level 1 and Level 2 for the years ended September 30, 2020 and 2019 . 32. Financial instruments (continued) MARKET RISK Market risk incorporates a range of risks. Movements in risk factors, such as interest rate risk and currency risk, affect the fair values of financial assets and liabilities. Interest rate risk The Company has interest rate swaps whereby the Company receives a fixed rate of interest and pays interest at a variable rate of its Senior U.S. unsecured note. These swaps are being used to hedge the exposure to changes in the fair value of the debt. The following table summarizes the fair value of theses swaps: As at As at Interest rate swaps Notional amount Receive Rate Pay Rate Maturity Fair value Fair value $ $ Fair value hedges of Senior U.S. unsecured note U.S.$250,000 4.99 % LIBOR 1 month + 3.26% December 2021 6,180 1,380 Senior U.S. unsecured note with a carrying value of $339,682,000 , includes an accumulated amount of fair value hedge adjustments of $6,470,000 as at September 30, 2020 . In addition, the Company designates cross-currency interest rate swaps as cash flow hedges for changes in both interest rates and foreign exchange rates of foreign currency denominated long-term debt as described below. The Company is also exposed to interest rate risk on its unsecured committed revolving credit facility and on its 2020 Term Loan . The Company analyzes its interest rate risk exposure on an ongoing basis using various scenarios to simulate refinancing or the renewal of existing positions. Based on these scenarios, a change in the interest rate of 1% would not have had a significant impact on net earnings. Currency risk The Company operates internationally and is exposed to risk from changes in foreign currency exchange rates. The Company mitigates this risk principally through foreign currency denominated debt and derivative financial instruments, which includes foreign currency forward contracts and cross-currency swaps. The Company hedges a portion of the translation of the Company’s net investments in its U.S. and European operations into Canadian dollar, with Senior U.S. and euro unsecured notes and the 2020 Term Loan. As of September 30, 2020 , the Senior U.S. and euro unsecured notes and the 2020 Term Loan of a carrying value of $2,316,639,000 and a nominal amount of $2,311,425,000 have been designated as hedging instruments to hedge portions of the Company’s net investments in its U.S. and European operations. The Company also hedges a portion of the translation of the Company’s net investments in its European operations with cross-currency swaps. 32. Financial instruments (continued) MARKET RISK (CONTINUED) Currency risk (continued) The following tables summarize the cross-currency swap agreements that the Company had entered into in order to manage its currency: As at As at Receive Notional Receive Rate Pay Notional Pay rate Maturity Fair value Fair value $ $ Hedges of net investments in European operations $374,200 From 3.40% to 3.81% €240,800 From 2.10% to 2.51% From September 2021 to 2024 189 19,305 $136,274 From 3.57% to 3.63% £75,842 From 2.67% to 2.80% September 2024 8,977 12,511 $58,419 From 3.57% to 3.68% Skr371,900 From 2.12% to 2.18% September 2024 5,359 7,995 Hedges of net investments in European operations and cash flow hedges on unsecured committed term loan credit facility U.S.$500,000 LIBOR 1 month + 1.00% €443,381 From 1.13% to 1.17% December 2023 (45,599 ) (3,627 ) Cash flow hedges of Senior U.S. unsecured notes U.S.$420,000 From 3.74% to 4.06% $568,893 From 3.40% to 3.81% From September 2021 to 2024 (1,159 ) (6,290 ) Total (32,233 ) 29,894 During the year ended September 30, 2020 , the Company settled cross-currency swaps with a notional amount of $69,300,000 for a net amount of $3,903,000 . The related amounts recognized in accumulated other comprehensive income will be transferred to earnings when the net investment is disposed of. The Company enters into foreign currency forward contracts to hedge the variability in various foreign currency exchange rates on future revenues. Hedging relationships are designated and documented at inception and quarterly effectiveness assessments are performed during the year. As at September 30, 2020 , the Company held foreign currency forward contracts to hedge exposures to changes in foreign currency, which have the following notional, average contract rates and maturities: Average contract rates As at As at Foreign currency forward contracts Notional Less than one year More than one year Fair value Fair value $ $ USD/INR U.S.$146,778 75.30 80.89 2,473 1,498 CAD/INR $288,942 57.94 61.59 6,196 11,687 EUR/INR €107,190 91.92 95.77 4,731 14,985 GBP/INR £86,833 100.26 105.18 4,522 11,929 SEK/INR Skr248,637 8.61 8.79 477 3,945 EUR/GBP €39,291 0.90 0.90 (1,210 ) (311 ) EUR/MAD €47,010 11.60 11.46 2,534 4,416 EUR/CZK €27,456 26.09 26.69 (1,039 ) 243 EUR/SEK €30,773 10.45 10.70 120 (1,828 ) Others $74,054 (496 ) 622 Total 18,308 47,186 32. Financial instruments (continued) MARKET RISK (CONTINUED) Currency risk (continued) The following table details the Company's sensitivity to a 10% strengthening of the Swedish krona, the U.S. dollar, the euro and the British pound foreign currency rates on net earnings and comprehensive income. The sensitivity analysis on net earnings presents the impact of foreign currency denominated financial instruments and adjusts their translation at period end for a 10% strengthening in foreign currency rates. The sensitivity analysis on other comprehensive income presents the impact of a 10% strengthening in foreign currency rates on the fair value of foreign currency forward contracts designated as cash flow hedges and on net investment hedges. 2020 2019 Swedish krona impact U.S. dollar impact euro impact British pound impact Swedish krona impact U.S. dollar impact euro impact British pound impact $ $ $ $ $ $ $ $ Increase in net earnings 317 1,215 190 931 875 2,333 167 2,166 Decrease in other comprehensive income (loss) (11,047 ) (233,182 ) (116,136 ) (29,080 ) (7,724 ) (65,034 ) (109,838 ) (24,736 ) LIQUIDITY RISK Liquidity risk is the risk that the Company is not able to meet its financial obligations as they fall due or can do so only at excessive cost. The Company’s activities are financed through a combination of the cash flows from operations, borrowing under existing unsecured committed revolving credit facility, the issuance of debt and the issuance of equity. One of management’s primary goals is to maintain an optimal level of liquidity through the active management of the assets and liabilities as well as the cash flows. The Company regularly monitors its cash forecasts to ensure it has sufficient flexibility under its available liquidity to meet its obligations. 32. Financial instruments (continued) LIQUIDITY RISK (CONTINUED) The following tables summarize the carrying amount and the contractual maturities of both the interest and principal portion of financial liabilities. All amounts contractually denominated in foreign currency are presented in Canadian dollar equivalent amounts using the period-end spot rate or floating rate. As at September 30, 2020 Carrying amount Contractual cash flows Less than one year Between one and three years Between three and five years Beyond $ $ $ $ $ $ Non-derivative financial liabilities Accounts payable and accrued liabilities 1,025,963 1,025,963 1,025,963 — — — Accrued compensation 672,775 672,775 672,775 — — — Senior U.S. and euro unsecured notes 1,211,965 1,325,791 321,089 519,605 485,097 — Unsecured committed term loan credit facilities 2,330,288 2,400,927 35,869 1,696,940 668,118 — Lease liabilities 876,370 1,002,493 207,617 325,964 229,871 239,041 Other long-term debt 44,842 45,221 38,240 5,387 1,587 7 Clients’ funds obligations 720,322 720,322 720,322 — — — Derivative financial liabilities Cash flow hedges of future revenue 6,694 Outflow 290,661 108,478 163,183 19,000 — (Inflow) (299,279 ) (107,621 ) (169,846 ) (21,812 ) — Cross-currency swaps 57,595 Outflow 1,272,197 315,839 168,458 787,900 — (Inflow) (1,232,774 ) (311,715 ) (163,025 ) (758,034 ) — Non deliverable forwards 661 Outflow 661 661 — — — 6,947,475 7,224,958 3,027,517 2,546,666 1,411,727 239,048 As at September 30, 2019 Carrying amount Contractual cash flows Less than one year Between one and three years Between three and five years Beyond $ $ $ $ $ $ Non-derivative financial liabilities Accounts payable and accrued liabilities 1,108,895 1,108,895 1,108,895 — — — Accrued compensation 642,897 642,897 642,897 — — — Senior U.S. and euro unsecured notes 1,256,554 1,425,138 116,613 738,987 569,538 — Unsecured committed revolving credit facility 334,370 378,298 10,493 20,986 346,819 — Unsecured committed term loan credit facility 661,939 747,921 19,677 40,804 687,440 — Obligations other than finance leases 14,295 14,609 10,938 3,558 113 — Obligations under finance leases 30,339 31,245 14,534 16,172 539 — Other long-term debt 33,710 34,181 22,719 8,885 1,986 591 Clients’ funds obligations 366,796 366,796 366,796 — — — Derivative financial liabilities Cash flow hedges of future revenue 3,682 Outflow 224,440 97,993 126,447 — — (Inflow) (228,672 ) (97,250 ) (131,422 ) — — Cross-currency swaps 19,542 Outflow 1,160,635 91,857 250,763 818,015 — (Inflow) (1,218,430 ) (101,823 ) (267,794 ) (848,813 ) — 4,473,019 4,687,953 2,304,339 807,386 1,575,637 591 32. Financial instruments (continued) LIQUIDITY RISK (CONTINUED) As at September 30, 2020 , the Company held cash and cash equivalents, funds held for clients, short-term investments and long-term investments of $2,457,248,000 ( $616,428,000 as at September 30, 2019 ). The Company also had available $1,490,301,000 in unsecured committed revolving credit facility ( $1,155,369,000 as at September 30, 2019 ). As at September 30, 2020 , trade accounts receivable amounted to $904,887,000 (Note 4) ( $979,728,000 as at September 30, 2019 ). Given the Company’s available liquid resources as compared to the timing of the payments of liabilities, management assesses the Company’s liquidity risk to be low. CREDIT RISK The Company takes on exposure to credit risk, which is the risk that a counterparty will be unable to pay amounts in full when due. Financial instruments that potentially subject the Company to concentrations of credit risk consist of cash and cash equivalents, accounts receivable, work in progress, long-term investments and derivative financial instruments with a positive fair value. The maximum exposure of credit risk is generally represented by the carrying amount of these items reported on the consolidated balance sheets. The Company is exposed to credit risk in connection with long-term investments through the possible inability of borrowers to meet the terms of their obligations. The Company mitigates this risk by investing primarily in high credit quality corporate and government bonds with a credit rating of A - or higher. The application of the low credit exemption had no material impact on the Company's consolidated financial statements. The Company has accounts receivable derived from clients engaged in various industries including government; manufacturing, retail & distribution; financial services; communications & utilities; and health that are not concentrated in any specific geographic area. These specific industries may be affected by economic factors that may impact trade accounts receivable. However, management does not believe that the Company is subject to any significant credit risk in view of the Company’s large and diversified client base and that any single industry or geographic region represents a significant credit risk to the Company. Historically, the Company has not made any significant write-offs and had low bad debt ratios. The application of the simplified approach to measure expected credit losses for trade accounts receivable and work in progress had no material impact on the Company's consolidated financial statements. The following table sets forth details of the age of trade accounts receivable that are past due: 2020 2019 $ $ Not past due 775,975 793,387 Past due 1-30 days 44,278 96,106 Past due 31-60 days 29,948 23,125 Past due 61-90 days 6,407 17,392 Past due more than 90 days 53,546 54,192 910,154 984,202 Allowance for doubtful accounts (5,267 ) (4,474 ) 904,887 979,728 In addition, the exposure to credit risk of cash and cash equivalents and derivatives financial instruments is limited given that the Company deals mainly with a diverse group of high-grade financial institutions and that derivatives agreements are generally subject to master netting agreements, such as the International Swaps and Derivatives Association, which provide for net settlement of all outstanding contracts with the counterparty in case of an event of default. |
Capital risk management
Capital risk management | 12 Months Ended |
Sep. 30, 2020 | |
Corporate Information And Statement Of IFRS Compliance [Abstract] | |
Capital risk management | Capital risk management The Company is exposed to risks of varying degrees of significance which could affect its ability to achieve its strategic objectives for growth. The main objectives of the Company’s risk management process are to ensure that risks are properly identified and that the capital base is adequate in relation to these risks. The Company manages its capital to ensure that there are adequate capital resources while maximizing the return to shareholders through the optimization of the debt and equity balance. As at September 30, 2020 , total managed capital was $13,459,695,000 ( $9,463,626,000 as at September 30, 2019 ). Managed capital consists of long-term debt, including the current portion (Note 14), lease liabilities, cash and cash equivalents, short-term investments, long-term investments (Note 11) and shareholders’ equity. The basis for the Company’s capital structure is dependent on the Company’s expected business growth and changes in the business environment. When capital needs have been specified, the Company’s management proposes capital transactions for the approval of the Company’s Audit and Risk Management Committee and Board of Directors. The capital risk policy remains unchanged from prior periods. The Company monitors its capital by reviewing various financial metrics, including the following: - Net Debt/Capitalization - Debt/EBITDA Net debt, capitalization and EBITDA are additional measures. Net debt represents debt (including the current portion and the fair value of foreign currency derivative financial instruments related to debt) less cash and cash equivalents, short-term investments and long-term investments. Capitalization is shareholders’ equity plus debt. EBITDA is calculated as earnings from continuing operations before finance costs, income taxes, depreciation, amortization, restructuring costs and acquisition-related and integration costs. The Company believes that the results of the current internal ratios are consistent with its capital management credit facility and unsecured committed revolving credit facilities. The ratios are as follows: - Leverage ratios, which are the ratio of total debt to EBITDA for its Senior U.S. and euro unsecured notes and the ratio of total debt net of cash and cash equivalent investments to EBITDA for its unsecured committed revolving credit facility and unsecured committed term loan credit facilities for the four most recent quarters 1. - An interest and rent coverage ratio, which is the ratio of the EBITDAR for the four most recent quarters to the total finance costs and the operating rentals in the same periods. EBITDAR is calculated as EBITDA before rent expense 1 . - In the case of the Senior U.S. and euro unsecured notes, a minimum net worth is required, whereby shareholders’ equity, excluding foreign exchange translation adjustments included in accumulated other comprehensive income, cannot be less than a specified threshold. These ratios are calculated on a consolidated basis. The Company is in compliance with these covenants and monitors them on an ongoing basis. The ratios are also reviewed quarterly by the Company’s Audit and Risk Management Committee. The Company is not subject to any other externally imposed capital requirements. 1 In the event of an acquisition, the available historical financial information of the acquired company will be used in the computation of the ratios. |
Summary of significant accoun_2
Summary of significant accounting policies (Policies) | 12 Months Ended |
Sep. 30, 2020 | |
Corporate Information And Statement Of IFRS Compliance [Abstract] | |
STATEMENT OF IFRS COMPLIANCE | These consolidated financial statements have been prepared in accordance with International Financial Reporting Standards (IFRS) as issued by the International Accounting Standards Board (IASB). |
BASIS OF CONSOLIDATION | BASIS OF CONSOLIDATION The consolidated financial statements include the accounts of the Company and its subsidiaries. All intercompany transactions and balances have been eliminated on consolidation. Subsidiaries are entities controlled by the Company. The Company controls an entity when it is exposed or has right to variable returns from its involvement with the entity and has the ability to affect those returns through its power over the relevant activities of the entity. Subsidiaries are fully consolidated from the date of acquisition and continue to be consolidated until the date control over the subsidiaries ceases. |
BASIS OF MEASUREMENT | BASIS OF MEASUREMENT The consolidated financial statements have been prepared on a historical cost basis, except for certain financial assets and liabilities, which have been measured at fair value as described below. |
USE OF JUDGEMENTS AND ESTIMATES | USE OF JUDGEMENTS AND ESTIMATES The preparation of the consolidated financial statements requires management to make judgements and estimates that affect the reported amounts of assets, liabilities, equity and the accompanying disclosures at the date of the consolidated financial statements and the reported amounts of revenue and expenses during the reporting period. Because the use of judgements and estimates is inherent in the financial reporting process, actual results could differ. Significant judgements and estimates about the future and other major sources of estimation uncertainty at the end of the reporting period could have a significant risk of causing a material adjustment to the carrying amounts of the following within the next financial year: revenue recognition, deferred tax assets, estimated losses on revenue-generating contracts, goodwill impairment, right-of-use assets, business combinations, provisions for uncertain tax treatments and litigation and claims. The judgements, apart from those involving estimations, that have the most significant effect on the amounts recognized in the consolidated financial statements are: Revenue recognition of multiple deliverable arrangements Assessing whether the deliverables within an arrangement are separate performance obligations requires judgement by management. A deliverable is identified as a separate performance obligation if the customer benefits from it on its own or together with resources that are readily available to the customer and if it is separately identifiable from the other deliverables in the contract. The Company assesses if the deliverables are separately identifiable in the context of the contract by determining if it is highly interrelated with other deliverables in the contract. If these criteria are not met, the deliverables are accounted for as a combined performance obligation. 3. Summary of significant accounting policies (continued) USE OF JUDGEMENTS AND ESTIMATES (CONTINUED) Deferred tax assets Deferred tax assets are recognized for unused tax losses to the extent that it is probable that taxable income will be available against which the losses can be utilized. Management judgement is required concerning uncertainties that exist with respect to the timing of future taxable income required to recognize a deferred tax asset. The Company recognizes an income tax benefit only when it is probable that the tax benefit will be realized in the future. In making this judgement, the Company assesses forecasts and the availability of future tax planning strategies. A description of estimates is included in the respective sections within the Notes to the Consolidated Financial Statements. COVID-19 pandemic For the year ended September 30, 2020, the Company assessed the impact of the uncertainties around the outbreak of the novel strain of the coronavirus, specifically identified as COVID-19 pandemic, on its balance sheet carrying amounts. This review required the use of judgements and estimates and resulted in no material impacts outside of the restructuring costs, refer to Note 25. The future impact of COVID-19 uncertainties could generate, in future reporting periods, a significant risk of material adjustments to the following: revenue recognition, deferred tax assets, estimated losses on revenue-generating contracts, impairment of PP&E, right-of-use assets, intangible assets and goodwill and litigation and claims. |
REVENUE RECOGNITION, WORK IN PROGRESS AND DEFERRED REVENUE | REVENUE RECOGNITION, WORK IN PROGRESS AND DEFERRED REVENUE The Company generates revenue through the provision of managed IT and BPS, systems integration and consulting, as well as the sale of software solutions as described in Note 1, Description of business. The Company provides services and products under arrangements that contain various pricing mechanisms. The Company accounts for a contract or a group of contracts when the following criteria are met: the parties to the contract have approved the contract in which their rights, their obligations and the payment terms have been identified, the contract has commercial substance, and the collectability of the consideration is probable. A contract modification is a change in the scope or price of an existing revenue-generating customer contract. The Company accounts for a contract modification as a separate contract when the scope of the contract increases because of the addition of promised performance obligations and the price of the contract increases by an amount of consideration that reflects its stand-alone selling prices. When the contract is not accounted for as a separate contract, the Company recognizes an adjustment to revenue on the existing contract on a cumulative catch-up basis as at the date of the contract modification or, if the remaining goods and services are distinct, the Company recognizes the remaining consideration prospectively. Revenue is recognized when or as the Company satisfies a performance obligation by transferring a promise of good or service to the customer and are measured at the amount of consideration the Company expects to be entitled to receive, including variable consideration, such as, discounts, volume rebates, service-level penalties, and incentives. Variable consideration is estimated using either the expected value method or most likely amount method and is included only to the extent it is highly probable that a significant reversal of cumulative revenue recognized will not occur. In making this judgement, management will mostly consider all information available at the time (historical, current and forecasted), the Company’s knowledge of the client or the industry, the type of services to be delivered and the specific contractual terms of each arrangement. Revenue from sales of third party vendor's products, such as software licenses, hardware or services is recorded on a gross basis when the Company is a principal to the transaction and is recorded net of costs when the Company is acting as an agent between the client and vendor. To determine whether the Company is a principal or an agent, it evaluates whether control is obtained of the goods or services before they are transferred to the client. Factors generally considered include whether the Company has the primary responsibility for providing the product or service, adds meaningful value to the vendor’s product or service and has discretion establishing the price. 3. Summary of significant accounting policies (continued) REVENUE RECOGNITION, WORK IN PROGRESS AND DEFERRED REVENUE (CONTINUED) Relative stand-alone selling price The Company’s arrangements often include a mix of the services and products as described below. If an arrangement involves the provision of multiple performance obligations, the total arrangement value is allocated to each performance obligations based on its relative stand-alone selling price. When estimating the stand-alone selling price of each performance obligations, the Company maximizes the use of observable prices which are established using the Company’s prices for same or similar deliverables. When observable prices are not available, the Company estimates stand-alone selling prices based on its best estimate. The best estimate of the stand-alone selling price is the price at which the Company would normally expect to offer the services or products and is established by considering a number of internal and external factors including, but not limited to, geographies, the Company’s pricing policies, internal costs and margins. Additionally, in certain circumstances, the Company may apply the residual approach when estimating the stand-alone price of software license products, for which the Company has not yet established the price or has not previously sold on a stand-alone basis. The appropriate revenue recognition method is applied for each performance obligation as described below. Managed IT and business process services Revenue from managed IT and business process services arrangements is generally recognized over time as the services are provided at the contractual billings, which corresponds with the value provided to the client, unless there is a better measure of performance or delivery. Systems integration and consulting services Revenue from systems integration and consulting services under time and material arrangements is recognized over time as the services are rendered, and revenue under cost-based arrangements is recognized over time as reimbursable costs are incurred. Contractual billings of such arrangements correspond with the value provided to the client, and therefore revenues are generally recognized when amounts become billable. Revenue from systems integration and consulting services under fixed-fee arrangements is recognized using the percentage-of-completion method over time, as the Company has no alternative use for the asset created and has an enforceable right to payment for performance completed to date. The Company primarily uses labour costs or labour hours to measure the progress towards completion. This method relies on estimates of total expected labour costs or total expected labour hours to complete the service, which are compared to labour costs or labour hours incurred to date, to arrive at an estimate of the percentage of revenue earned to date. Factors considered in the estimates include: changes in scope of the contracts, delays in reaching milestones, complexities in project delivery, availability and retention of qualified IT professionals and/or the ability of the subcontractors to perform their obligation within agreed upon budget and timeframes. Management regularly reviews underlying estimates of total expected labour costs or hours. Software licenses Most of the Company’s software license arrangements include other services such as implementation, customization and maintenance. For these types of arrangements, revenue from a software license, when identified as a performance obligation, is recognized at a point in time upon delivery. Otherwise when the software is significantly customized, integrated or modified, it is combined with the implementation and customization services and is accounted for as described in the systems integration and consulting services section above. Revenue from maintenance services for software licenses sold is recognized straight-line over the term of the maintenance period. Work in progress and deferred revenue Amounts recognized as revenue in excess of billings are classified as work in progress. Amounts received in advance of the performance of services or delivery of products are classified as deferred revenue. Work in progress and deferred revenue are presented net on a contract by-contract basis. During the year ended September, 30 2020, the revenues recognized from the short-term deferred revenue was not significantly different than what was presented as at September, 30 2019. |
CASH AND CASH EQUIVALENTS | CASH AND CASH EQUIVALENTS Cash and cash equivalents consist of unrestricted cash and short-term investments having a maturity of three months or less from the date of purchase. |
SHORT-TERM INVESTMENTS | SHORT-TERM INVESTMENTS Short-term investments, comprise generally of term deposits, have remaining maturities over three months, but not more than one year, at the date of purchase. |
FUNDS HELD FOR CLIENTS AND CLIENTS’ FUNDS OBLIGATIONS | FUNDS HELD FOR CLIENTS AND CLIENTS’ FUNDS OBLIGATIONS In connection with the Company’s payroll, tax filing and claims services, the Company collects funds for payment of payroll, taxes and claims, temporarily holds such funds until payment is due, remits the funds to the clients’ employees, appropriate tax authorities or claims holders, files tax returns and handles related regulatory correspondence and amendments. The funds held for clients include cash and long-term bonds. The Company presents the funds held for clients and related obligations separately. Funds held for clients are classified as current assets since, based upon management’s intentions, these funds are held solely for the purpose of satisfying the clients’ funds obligations, which will be repaid within one year of the consolidated balance sheet date. The market fluctuations affect the fair value of the long-term bonds. Due to those fluctuations, funds held for clients might not equal to the clients' funds obligations. Interest income earned and realized gains and losses on the disposal of bonds are recorded in revenue in the period that the income is earned, as the collecting, holding and remitting of these funds are critical components of providing these services. |
PROPERTY, PLANT AND EQUIPMENT | PROPERTY, PLANT AND EQUIPMENT Property, plant and equipment (PP&E), are recorded at cost and are depreciated over their estimated useful lives using the straight-line method. Buildings 10 to 40 years Leasehold improvements Lesser of the useful life or lease term Furniture, fixtures and equipment 3 to 20 years Computer equipment 3 to 5 years |
LEASES | LEASES For the fiscal year ended September 30, 2020, under IFRS 16, Leases When the Company enters into contractual agreements with suppliers or other parties, an assessment is performed to determine if the contract contains a lease. The Company identified lease agreements under the following categories: Properties, Motor vehicules and others as well as Computer equipment. The Company identifies a lease if it conveys the right to control the use of an identified asset for a specific period in exchange for a determined consideration. At inception, a right-of-use asset for the underlying asset and corresponding lease liability are presented in the consolidated balance sheet measured on a present value basis except for short-term leases (expected term of 12 months or less) and leases with low value underlying asset for which payments are recorded as an expense on a straight-line basis over the lease term. The right-of-use assets are measured at initial lease liabilities adjusted by lease payments made before the commencement date, indirect costs and cash incentives received. The right-of-use assets are depreciated on a straight-line basis over the expected lease term of the underlying asset. Lease liabilities are measured at present value of non-cancellable payments of the expected lease term, which are mostly made of fixed payments of rent excluding maintenance fees; variable payments that are based on an index or a rate; amounts expected to be payable as residual value guaranties and extension or termination option if reasonably certain to be exercised. The Company estimates the lease term in order to calculate the value of the lease liability at the initial date of the lease. Management uses judgement to determine the appropriate lease term based on the conditions of each lease. To determine the lease term, the Company considers all factors that create economic incentives to exercise an extension or a termination option. The extension or termination options are only included in the lease term if it is reasonably certain of being exercised. Management considers all facts that create incentive to exercise an extension option or not to take a termination option including leasehold improvements, significant modification of the underlying asset or a business decision. 3. Summary of significant accounting policies (continued) LEASES (CONTINUED) Discount rate used in the present value calculation is the incremental borrowing rate unless the implicit interest rate in the lease can be readily determined. The Company estimates the incremental borrowing rate for each lease or portfolio of leased assets, as most of the implicit interest rates in the leases are not readily determinable. To calculate the incremental borrowing rate, the Company considers its credit worthiness, the term of the arrangement, any collateral received and the economic environment. The incremental borrowing rates are subject to change mainly due to changes in the economic environment. The lease liabilities are subsequently adjusted to reflect interest on the lease liabilities and lease payments made. Lease liabilities are remeasured (along with the corresponding adjustment to the right-of-use asset), whenever the following situations occur; a modification in the lease term, a change in the assessment of an option to purchase, a modification in the residual guarantees or in future lease payments due to a change of an index or rate tied to the payments. |
CONTRACT COSTS | CONTRACT COSTS Contract costs are comprised primarily of transition costs incurred to implement long-term managed IT and business process services contracts and incentives. Transition costs Transition costs consist mostly of costs associated with the installation of systems and processes, as well as conversion of the client’s applications to the Company’s platforms incurred after the award of managed IT and business process services contracts. Transition costs are comprised essentially of labour costs, including compensation and related fringe benefits, as well as subcontractor costs. Incentives Occasionally, incentives are granted to clients upon the signing of managed IT and business process services contracts. These incentives are granted in the form of cash payments. Amortization of contract costs Contract costs are amortized using the straight-line method over the period services are provided. Amortization of transition costs is included in costs of services, selling and administrative and amortization of incentives is recorded as a reduction of revenue. Impairment of contract costs When a contract is not expected to be profitable, the estimated loss is first applied to impair the related capitalized contract costs. The excess of the expected loss over the capitalized contract costs is recorded as onerous revenue-generating contracts in provisions. If at a future date the contract returns to profitability, the previously recognized impairment loss must be reversed. First the estimated losses on revenue-generating contracts must be reversed, and if there is still additional projected profitability then any capitalized contract costs that were impaired must be reversed. The reversal of the impairment loss is limited so that the carrying amount does not exceed its recoverable amount, nor exceed the carrying amount that would have been determined, net of amortization, had no impairment loss been recognized for the contract costs in prior years. |
INTANGIBLE ASSETS | INTANGIBLE ASSETS Intangible assets consist mainly of internal-use software, business solutions, software licenses and client relationships. Internal-use software, business solutions and software licenses are recorded at cost. Internal-use software developed internally is capitalized when it meets specific capitalization criteria related to technical and financial feasibility and when the Company demonstrates its ability and intention to use it. Business solutions developed internally and marketed are capitalized when they meet specific capitalization criteria related to technical, market and financial feasibility. Internal-use software, business solutions, software licenses and client relationships acquired through business combinations are initially recorded at their fair value based on the present value of expected future cash flows, which involves estimates, such as the forecasting of future cash flows and discount rates. 3. Summary of significant accounting policies (continued) INTANGIBLE ASSETS (CONTINUED) Amortization of intangible assets The Company amortizes its intangible assets using the straight-line method over their estimated useful lives. Internal-use software 2 to 7 years Business solutions 2 to 10 years Software licenses 3 to 8 years Client relationships 2 to 10 years |
IMPAIRMENT OF PP&E, INTANGIBLE ASSETS AND GOODWILL | IMPAIRMENT OF PP&E, RIGHT-OF-USE ASSETS, INTANGIBLE ASSETS AND GOODWILL Timing of impairment testing The carrying values of PP&E, right-of-use assets, intangible assets and goodwill are reviewed for impairment when events or changes in circumstances indicate that the carrying value may be impaired. The Company assesses at each reporting date whether any such events or changes in circumstances exist. The carrying values of intangible assets not available for use are tested for impairment annually as at September 30. Goodwill is tested for impairment annually during the fourth quarter of each fiscal year. Impairment testing If any indication of impairment exists or when annual impairment testing for an asset is required, the Company estimates the recoverable amount of the asset or cash-generating unit (CGU) to which the asset relates to determine the extent of any impairment loss. The recoverable amount is the higher of an asset’s or CGU’s fair value less costs of disposal and its value in use (VIU) to the Company. The Company mainly uses the VIU. In assessing the VIU, estimated future cash flows are discounted to their present value using a discount rate that reflects current market assessments of the time value of money and the risks specific to the asset or CGU. In determining fair value less costs of disposal, recent market transactions are taken into account, if available. If the recoverable amount of an asset or a CGU is estimated to be less than its carrying amount, the carrying amount is reduced to its recoverable amount. An impairment loss is recognized immediately in the consolidated statements of earnings. Goodwill acquired through business combinations is allocated to the CGU or group of CGUs that are expected to benefit from acquired work force and synergies of the related business combination. The group of CGUs that benefit from the acquired work force and synergies correspond to the Company’s operating segments. For goodwill impairment testing purposes, the group of CGUs that represents the lowest level within the Company at which management monitors goodwill is the operating segment level. The recoverable amount of each operating segment has been determined based on the VIU calculation which includes estimates about their future financial performance based on cash flows approved by management covering a period of five years. Key assumptions used in the VIU calculations are the discount rate applied and the long-term growth rate of net operating cash flows. In determining these assumptions, management has taken into consideration the current economic environment and its resulting impact on expected growth and discount rates. The cash flow projections reflect management’s expectations of the operating segment's operating performance and growth prospects in the operating segment’s market. The discount rate applied to an operating segment is the weighted average cost of capital (WACC). Management considers factors such as country risk premium, risk-free rate, size premium and cost of debt to derive the WACC. Impairment losses relating to goodwill cannot be reversed in future periods. For impaired assets, other than goodwill, an assessment is made at each reporting date as to whether there is any indication that previously recognized impairment losses may no longer exist or may have decreased. If such indication exists, the Company estimates the recoverable amount of the asset. A previously recognized impairment loss is reversed only if there has been a change in the assumptions used to determine the recoverable amount of the asset since the last impairment loss was recognized. The reversal is limited so that the carrying amount of the asset does not exceed its recoverable amount, nor exceed the carrying amount that would have been determined, net of amortization, had no impairment loss been recognized for the asset in prior years. Such reversal is recognized in the consolidated statements of earnings. |
LONG-TERM FINANCIAL ASSETS | LONG-TERM FINANCIAL ASSETS Long-term investments presented in long-term financial assets are comprised of bonds which are presented as long-term based on management’s intentions. |
BUSINESS COMBINATIONS | BUSINESS COMBINATIONS The Company accounts for its business combinations using the acquisition method. Under this method, the consideration transferred is measured at fair value. Acquisition-related and integration costs associated with the business combination are expensed as incurred or when a present legal or constructive obligation exists. The Company recognizes goodwill as the excess of the cost of the acquisition over the net identifiable tangible and intangible assets acquired and liabilities assumed at their acquisition-date fair values. The goodwill recognized is composed of the future economic value associated to acquired work force and synergies with the Company’s operations which are primarily due to reduction of costs and new business opportunities. Management makes assumptions when determining the acquisition-date fair values of the identifiable tangible and intangible assets acquired and liabilities assumed which involve estimates, such as the forecasting of future cash flows, discount rates, and the useful lives of the assets acquired. Subsequent changes in fair values are recorded as part of the purchase price allocation and therefore result in corresponding goodwill adjustments if they qualify as measurement period adjustments. The measurement period is the period between the date of acquisition and the date where all significant information necessary to determine the fair values is available, not to exceed 12 months. All other subsequent changes in estimates and judgements are recognized in the consolidated statements of earnings. |
EARNINGS PER SHARE | EARNINGS PER SHARE Basic earnings per share is based on the weighted average number of shares outstanding during the period. Diluted earnings per share is determined using the treasury stock method to evaluate the dilutive effect of stock options and performance share units (PSUs). |
RESEARCH AND SOFTWARE DEVELOPMENT COSTS | RESEARCH AND SOFTWARE DEVELOPMENT COSTS Research costs are charged to earnings in the period in which they are incurred, net of related tax credits. Software development costs related to internal-use software and business solutions are charged to earnings in the year they are incurred, net of related tax credits, unless they meet specific capitalization criteria related to technical, market and financial feasibility as described in the Intangible assets section above. |
TAX CREDITS | TAX CREDITS The Company follows the income approach to account for research and development (R&D) and other tax credits, whereby investment tax credits are recorded when there is a reasonable assurance that the assistance will be received and that the Company will comply with all relevant conditions. Under this method, tax credits related to operating expenditures are recorded as a reduction of the related expenses and recognized in the period in which the related expenditures are charged to earnings. Tax credits related to capital expenditures are recorded as a reduction of the cost of the related assets. The tax credits recorded are based on management's best estimates of amounts expected to be received and are subject to audit by the taxation authorities. |
INCOME TAXES | INCOME TAXES Income taxes are accounted for using the liability method of accounting. Current income taxes are recognized with respect to the amounts expected to be paid or recovered under the tax rates and laws that have been enacted or substantively enacted at the balance sheets date. Deferred tax assets and liabilities are determined based on deductible or taxable temporary differences between the amounts reported for consolidated financial statement purposes and tax values of the assets and liabilities using enacted or substantively enacted tax rates that will be in effect for the year in which the differences are expected to be recovered or settled. Deferred tax assets and liabilities are recognized in earnings, in other comprehensive income or in equity based on the classification of the item to which they relate. Deferred tax assets are recognized for unused tax losses and deductible temporary differences to the extent that it is probable that taxable profit will be available against which the losses can be utilized. Once this assessment is made, the Company considers the analysis of forecasts and future tax planning strategies. Estimates of taxable profit are made based on the forecast by jurisdiction on an undiscounted basis. In addition, management considers factors such as substantively enacted tax rates, the history of the taxable profits and availability of tax strategies. The Company is subject to income tax laws in numerous jurisdictions. Judgement is required in determining the worldwide provision for income taxes as the determination of tax liabilities and assets involves uncertainties in the interpretation of complex tax regulations and requires estimates and assumptions considering the existing facts and circumstances. The Company provides for potential tax liabilities based on the most likely amount of the possible outcomes. Estimates are reviewed each reporting period and updated, based on new information available, and could result in changes to the income tax liabilities and deferred tax liabilities in the period in which such determinations are made. |
PROVISIONS | PROVISIONS Provisions are recognized when the Company has a present legal or constructive obligation as a result of a past event, it is probable that an outflow of resources embodying economic benefits will be required to settle the obligation and a reliable estimate can be made of the amount of the obligation. The Company’s provisions consist of liabilities for litigation and claims provisions arising in the ordinary course of business, decommissioning liabilities for leases of office buildings, onerous supplier contracts and onerous revenue-generating contracts. The Company also records restructuring provisions for termination of employment costs related to specific initiatives and to the integration of its business acquisitions. The amount recognized as a provision is the best estimate of the consideration required to settle the present obligation at the end of the reporting period, taking into account the risks and uncertainties surrounding the obligation. Provisions are discounted using a current pre-tax rate when the impact of the time value of money is material. The increase in the provisions due to the passage of time is recognized as finance costs. The accrued litigation and legal claims provisions are based on historical experience, current trends and other assumptions that are believed to be reasonable under the circumstances. Estimates include the period in which the underlying cause of the claim occurred and the degree of probability of an unfavourable outcome. Decommissioning liabilities pertain to leases of buildings where certain arrangements require premises to be returned to their original state at the end of the lease term. The provision is determined using the present value of the estimated future cash outflows. Provisions for onerous supplier contracts are recorded when the unavoidable net cash flows from honoring the contract are negative. The provision represents the lowest of the costs to fulfill the contract and the penalties to exit the contract. Provisions for onerous revenue-generating contracts are recorded when unavoidable costs of fulfilling the contract exceed the estimated total revenue from the contract. Management regularly reviews arrangement profitability and the underlying estimates. Restructuring provisions are recognized when a detailed formal plan identifies the business or part of the business concerned, the location and number of employees affected, a detailed estimate of the associated costs, appropriate timelines and has been communicated to those affected by it. |
TRANSLATION OF FOREIGN CURRENCIES | TRANSLATION OF FOREIGN CURRENCIES The Company’s consolidated financial statements are presented in Canadian dollars, which is also the parent company’s functional currency. Each entity in the Company determines its own functional currency and items included in the financial statements of each entity are measured using that functional currency. Functional currency is the currency of the primary economic environment in which the entity operates. Foreign currency transactions and balances Revenue, expenses and non-monetary assets and liabilities denominated in foreign currencies are recorded at the rate of exchange prevailing at the transaction date. Monetary assets and liabilities denominated in foreign currencies are translated at exchange rates prevailing at the balance sheets date. Unrealized and realized translation gains and losses are reflected in the consolidated statements of earnings. Foreign operations For foreign operations that have functional currencies different from the Company, assets and liabilities denominated in a foreign currency are translated at exchange rates in effect at the balance sheets date. Revenue and expenses are translated at average exchange rates prevailing during the period. Resulting unrealized gains or losses on translating financial statements of foreign operations are reported in other comprehensive income. For foreign operations with the same functional currency as the Company, monetary assets and liabilities are translated at the exchange rates in effect at the balance sheets date and non-monetary assets and liabilities are translated at historical exchange rates. Revenue and expenses are translated at average exchange rates during the period. Translation exchange gains or losses of such operations are reflected in the consolidated statements of earnings. |
SHARE-BASED PAYMENTS | SHARE-BASED PAYMENTS Equity-settled plans The Company operates equity-settled stock option and PSU plans under which the Company receives services from employees, officers and directors as consideration for equity instruments. The fair value of those share-based payments is established on the grant date using the Black-Scholes option pricing model for the stock options and the closing price of Class A subordinate voting shares of the Company on the Toronto Stock Exchange (TSX) for the PSUs. The number of stock options and PSUs expected to vest are estimated on the grant date and subsequently revised on each reporting date. For stock options, the estimation of fair value requires making assumptions for the most appropriate inputs to the valuation model including the expected life of the option and expected stock price volatility. The fair value of share-based payments, adjusted for expectations related to performance conditions and forfeitures, are recognized as share-based payment costs over the vesting period in earnings with a corresponding credit to contributed surplus on a graded-vesting basis if they vest annually or on a straight-line basis if they vest at the end of the vesting period. When stock options are exercised, any consideration paid is credited to capital stock and the recorded fair value of the stock options is removed from contributed surplus and credited to capital stock. When PSUs are exercised, the recorded fair value of PSUs is removed from contributed surplus and credited to capital stock. Share purchase plan The Company operates a share purchase plan for eligible employees. Under this plan, the Company matches the contributions made by employees up to a maximum percentage of the employee's salary. The Company's contributions to the plan are recognized in salaries and other member costs within costs of services, selling and administrative. Cash-settled deferred share units The Company operates a deferred share unit (DSU) plan to compensate the external members of the Board of Directors. The expense is recognized within costs of services, selling and administrative for each DSU granted equal to the closing price of Class A subordinate voting shares of the Company on the TSX at the date on which DSUs are awarded and a corresponding liability is recorded in accrued compensation. After the grant date, the DSU liability is remeasured for subsequent changes in the fair value of the Company's shares. |
FINANCIAL INSTRUMENTS | FINANCIAL INSTRUMENTS All financial instruments are initially measured at their fair value and are subsequently classified either at amortized cost, at fair value through earnings (FVTE) or at fair value through other comprehensive income (FVOCI). Financial assets are classified based on the Company’s management model of such instruments and their contractual cash flows they generate. Financial liabilities are classified and measured at amortized cost, unless they are held for trading and classified as FVTE. The Company has made the following classifications: FVTE Cash and cash equivalents, derivative financial instruments and deferred compensation plan assets within long-term financial assets are measured at fair value at the end of each reporting period and the resulting gains or losses are recorded in the consolidated statements of earnings. Amortized Cost Trade accounts receivable, cash included in funds held for clients, long-term receivables within long-term financial assets, accounts payable and accrued liabilities, accrued compensation, long-term debt and clients’ funds obligations are measured at amortized cost using the effective interest method. Financial assets classified at amortized cost are subject to impairment. For trade accounts receivable and work in progress, the Company applies the simplified approach to measure expected credit losses, which requires lifetime expected loss allowance to be recorded upon initial recognition of the financial assets. FVOCI Long-term bonds included in funds held for clients and in long-term investments within long-term financial assets are measured at fair value through other comprehensive income and are subject to impairment for which the Company uses the low credit risk exemption. The unrealized gains and losses, net of applicable income taxes, are recorded in other comprehensive income. Interest income measured using the effective interest method and realized gains and losses on derecognition are recorded in the consolidated statements of earnings. Transaction costs are comprised primarily of legal, accounting and other costs directly attributable to the issuance of the respective financial assets. Transaction costs are capitalized to the cost of financial assets classified as other than FVTE. Financial assets are derecognized if the contractual rights to the cash flows from the financial asset expire or the asset is transferred and the transfer qualifies for derecognition as substantially all the risks and rewards of ownership of the financial asset have been transferred. Fair value hierarchy Fair value measurements recognized on the balance sheets are classified in accordance with the following levels: Level 1: quoted prices (unadjusted) in active markets for identical assets or liabilities; Level 2: inputs other than quoted prices included in Level 1, but that are observable for the asset or liability, either directly or indirectly; and Level 3: inputs for the asset or liability that are not based on observable market data. DERIVATIVE FINANCIAL INSTRUMENTS AND HEDGING TRANSACTIONS The Company enters into a variety of derivative financial instruments to manage its exposure to interest rate and foreign currency exchange risks. Derivative financial instruments are initially recognized at fair value at the date the derivative contracts are entered into and are subsequently remeasured to their fair value at the end of each reporting date. The resulting gain or loss is recognized in the consolidated statements of earnings, unless the derivative is designated and is effective as a hedging instrument, in which event the timing of the recognition in the consolidated statements of earnings depends on the nature of the hedge relationship. The cash flows of the hedging instruments are classified in the same manner as the cash flows of the item being hedged. 3. Summary of significant accounting policies (continued) DERIVATIVE FINANCIAL INSTRUMENTS AND HEDGING TRANSACTIONS (CONTINUED) At the inception of a hedge relationship, the Company formally designates and documents the hedge relationship to which the Company wishes to apply hedge accounting and the risk management's objective and strategy for undertaking the hedge. The documentation includes the identification of the nature of the risk being hedged, the economic relationship between the hedged item and the hedging instruments which should not be dominated by credit risk, the hedge ratio consistent with the risk management strategy pursued and how the Company will assess the effectiveness of the hedging relationship on an ongoing basis. Management evaluates hedge effectiveness at inception of the hedge instrument and quarterly thereafter generally based on a managed hedge ratio of 1:1. Hedge effectiveness is measured prospectively as the extent to which changes in the fair value or cash flows of the derivative offsets the changes in the fair value or cash flows of the underlying hedged instrument or risk when there is a significant mismatch between the terms of the hedging instrument and the hedged item. Any meaningful imbalance is considered ineffectiveness in the hedge and accounted for accordingly in the consolidated statements of earnings. Hedges of net investments in foreign operations The Company uses cross-currency swaps and foreign currency denominated long-term debt to hedge portions of the Company’s net investments in its U.S. and European operations. Foreign exchange translation gains or losses on the net investments and the effective portions of gains or losses on instruments hedging the net investments are recorded in other comprehensive income. Gains or losses relating to the ineffective portion are recognized in consolidated statements of earnings. When the hedged net investment is disposed of, the relevant amount in other comprehensive income is transferred to earnings as part of the gain or loss on disposal. Cash flow hedges of future revenue and long-term debt The majority of the Company’s revenue and costs are denominated in a currency other than the Canadian dollar. The risk of foreign exchange fluctuations impacting the results is substantially mitigated by matching the Company’s costs with revenue denominated in the same currency. In certain cases where there is a substantial imbalance for a specific currency, the Company enters into foreign currency forward contracts to hedge the variability in the foreign currency exchange rates. The Company also uses interest rate and cross-currency swaps to hedge either the cash flow exposure or the foreign exchange exposure of the long-term debt. The effective portion of the change in fair value of the derivative financial instruments is recognized in other comprehensive income and the ineffective portion, if any, in the consolidated statements of earnings. The effective portion of the change in fair value of the derivatives is reclassified out of other comprehensive income into the consolidated statements of earnings when the hedged item is recognized in the consolidated statements of earnings. Fair value hedges of Senior U.S. unsecured notes The Company entered into interest rate swaps to hedge the fair value exposure of the issued fixed rate Senior U.S. unsecured notes. Under the interest rate swaps, the Company receives a fixed rate of interest and pays interest at a variable rate on the notional amount. The changes in the fair value of the interest rate swaps are recognized in the consolidated statements of earnings as finance costs. The changes in the fair value of the hedged items attributable to the risk hedged is recorded as part of the carrying value of the Senior U.S. unsecured notes and are also recognized in the consolidated statements of earnings as finance costs. If the hedged items are derecognized, the unamortized fair value is recognized immediately in the consolidated statements of earnings. Cost of hedging The Company has elected to account for forward element of forward contracts or foreign currency basis spread as costs of hedging. In such cases, the deferred costs of hedging, net of applicable income taxes, are recognized as a separate component of the accumulated other comprehensive income and reclassified in the consolidated statements of earnings when the hedged item is recognized. |
DERIVATIVE FINANCIAL INSTRUMENTS AND HEDGING TRANSACTIONS | DERIVATIVE FINANCIAL INSTRUMENTS AND HEDGING TRANSACTIONS The Company enters into a variety of derivative financial instruments to manage its exposure to interest rate and foreign currency exchange risks. Derivative financial instruments are initially recognized at fair value at the date the derivative contracts are entered into and are subsequently remeasured to their fair value at the end of each reporting date. The resulting gain or loss is recognized in the consolidated statements of earnings, unless the derivative is designated and is effective as a hedging instrument, in which event the timing of the recognition in the consolidated statements of earnings depends on the nature of the hedge relationship. The cash flows of the hedging instruments are classified in the same manner as the cash flows of the item being hedged. 3. Summary of significant accounting policies (continued) DERIVATIVE FINANCIAL INSTRUMENTS AND HEDGING TRANSACTIONS (CONTINUED) At the inception of a hedge relationship, the Company formally designates and documents the hedge relationship to which the Company wishes to apply hedge accounting and the risk management's objective and strategy for undertaking the hedge. The documentation includes the identification of the nature of the risk being hedged, the economic relationship between the hedged item and the hedging instruments which should not be dominated by credit risk, the hedge ratio consistent with the risk management strategy pursued and how the Company will assess the effectiveness of the hedging relationship on an ongoing basis. Management evaluates hedge effectiveness at inception of the hedge instrument and quarterly thereafter generally based on a managed hedge ratio of 1:1. Hedge effectiveness is measured prospectively as the extent to which changes in the fair value or cash flows of the derivative offsets the changes in the fair value or cash flows of the underlying hedged instrument or risk when there is a significant mismatch between the terms of the hedging instrument and the hedged item. Any meaningful imbalance is considered ineffectiveness in the hedge and accounted for accordingly in the consolidated statements of earnings. Hedges of net investments in foreign operations The Company uses cross-currency swaps and foreign currency denominated long-term debt to hedge portions of the Company’s net investments in its U.S. and European operations. Foreign exchange translation gains or losses on the net investments and the effective portions of gains or losses on instruments hedging the net investments are recorded in other comprehensive income. Gains or losses relating to the ineffective portion are recognized in consolidated statements of earnings. When the hedged net investment is disposed of, the relevant amount in other comprehensive income is transferred to earnings as part of the gain or loss on disposal. Cash flow hedges of future revenue and long-term debt The majority of the Company’s revenue and costs are denominated in a currency other than the Canadian dollar. The risk of foreign exchange fluctuations impacting the results is substantially mitigated by matching the Company’s costs with revenue denominated in the same currency. In certain cases where there is a substantial imbalance for a specific currency, the Company enters into foreign currency forward contracts to hedge the variability in the foreign currency exchange rates. The Company also uses interest rate and cross-currency swaps to hedge either the cash flow exposure or the foreign exchange exposure of the long-term debt. The effective portion of the change in fair value of the derivative financial instruments is recognized in other comprehensive income and the ineffective portion, if any, in the consolidated statements of earnings. The effective portion of the change in fair value of the derivatives is reclassified out of other comprehensive income into the consolidated statements of earnings when the hedged item is recognized in the consolidated statements of earnings. Fair value hedges of Senior U.S. unsecured notes The Company entered into interest rate swaps to hedge the fair value exposure of the issued fixed rate Senior U.S. unsecured notes. Under the interest rate swaps, the Company receives a fixed rate of interest and pays interest at a variable rate on the notional amount. The changes in the fair value of the interest rate swaps are recognized in the consolidated statements of earnings as finance costs. The changes in the fair value of the hedged items attributable to the risk hedged is recorded as part of the carrying value of the Senior U.S. unsecured notes and are also recognized in the consolidated statements of earnings as finance costs. If the hedged items are derecognized, the unamortized fair value is recognized immediately in the consolidated statements of earnings. Cost of hedging The Company has elected to account for forward element of forward contracts or foreign currency basis spread as costs of hedging. In such cases, the deferred costs of hedging, net of applicable income taxes, are recognized as a separate component of the accumulated other comprehensive income and reclassified in the consolidated statements of earnings when the hedged item is recognized. |
EMPLOYEE BENEFITS | EMPLOYEE BENEFITS The Company operates both defined benefit and defined contribution post-employment benefit plans. The cost of defined contribution plans is charged to the consolidated statements of earnings on the basis of contributions payable by the Company during the year. For defined benefit plans, the defined benefit obligations are calculated by independent actuaries using the projected unit credit method. The retirement benefits obligations in the consolidated balance sheets represent the present value of the defined benefit obligations as reduced by the fair value of plan assets. The retirement benefits assets are recognized to the extent that the Company can benefit from refunds or a reduction in future contributions. Retirement benefits plans that are funded by the payment of insurance premiums are treated as defined contribution plans unless the Company has an obligation either to pay the benefits directly when they fall due or to pay further amounts if assets accumulated with the insurer do not cover all future employee benefits. In such circumstances, the plan is treated as a defined benefit plan. Insurance policies are treated as plan assets of a defined benefit plan if the proceeds of the policy: - Can only be used to fund employee benefits; - Are not available to the Company’s creditors; and - Either cannot be paid to the Company unless the proceeds represent surplus assets not needed to meet all the benefit obligations or are a reimbursement for benefits already paid by the Company. Insurance policies that do not meet the above criteria are treated as non-current investments and are held at fair value as long-term financial assets in the consolidated balance sheets. The actuarial valuations used to determine the cost of defined benefit pension plans and their present value involve making assumptions about discount rates, future salary and pension increases, inflation rates and mortality. Any changes in these assumptions will impact the carrying amount of pension obligations. In determining the appropriate discount rate, management considers the interest rates of high quality corporate bonds that are denominated in the currency in which the benefits will be paid, and that have terms to maturity approximating the terms of the related pension liability. The current service cost is recognized in the consolidated statements of earnings under costs of services, selling and administrative. The net interest cost calculated by applying the discount rate to the net defined benefit liabilities or assets is recognized as net finance cost or income. When the benefits of a plan are changed or when a plan is curtailed, the resulting change in benefits that relates to past services or the gains or losses on curtailment is recognized immediately in the consolidated statements of earnings. The gains or losses on the settlement of a defined benefit plan are recognized when the settlement occurs. Remeasurements on defined benefit plans include actuarial gains and losses, changes in the effect of the asset ceiling and the return on plan assets, excluding the amount included in net interest on the net defined liabilities or assets. Remeasurements are charged or credited to other comprehensive income in the period in which they arise. |
ADOPTION OF ACCOUNTING STANDARDS AND FUTURE ACCOUNTING STANDARD CHANGES | ADOPTION OF ACCOUNTING STANDARDS The following standards have been adopted by the Company on October 1, 2019: IFRS 16 - Leases Adoption IFRS 16 - Leases In January 2016, the IASB issued IFRS 16, Leases , to set out the principles for the recognition, measurement, presentation and disclosure of leases for both parties to a lease agreement. The standard supersedes IAS 17, Leases , and other leases related interpretations, eliminates the lessee's classification of leases as either operating leases or finance leases and introduces a single lessee accounting model. Lessees recognize a right-of-use asset representing its control of, and right to use, the underlying asset and a lease liability representing its obligation to make future lease payments. The Company adopted IFRS 16 using the modified retrospective method, with no restatement of comparative figures. The Company applied the new standard to contracts that were classified as leases under IAS 17 at the date of initial application. The right-of-use assets were recognized as if IFRS 16 had been applied since the commencement date for real estate leases. For all other leases, the right-of-use assets were measured at an amount equal to the lease liability adjusted by the prepaid amount and the accrued lease payment related to the lease in the balance sheet as at September 30, 2019. The Company made use of the following practical expedients available on transition date: the definition of a lease, the use of hindsight in determining the lease term, the exclusion of initial direct costs from the measurement of the right-of-use asset at the transition date, the usage of a single incremental borrowing rate for a portfolio of leases with reasonably similar characteristics and adjusting the right-of-use assets for any onerous lease provisions as an alternative to an impairment review. Impacts at adoption date The following table shows the impacts of the adoption of IFRS 16 on the Company’s consolidated balance sheet as of October 1, 2019: Balance sheet as at September 30, 2019 IFRS 16 adoption Balance sheet as at October 1, 2019 $ $ $ Assets Accounts receivable 1,357,090 3,319 1,360,409 Prepaid expenses and other current assets 172,182 (6,365 ) 165,817 Property, plant and equipment 397,661 (21,863 ) 375,798 Right-of-use assets — 701,346 701,346 Other long-term assets 180,480 607 181,087 Deferred tax assets 100,539 14,778 115,317 Other assets 10,413,794 — 10,413,794 12,621,746 691,822 13,313,568 Liabilities Accounts payable and accrued liabilities 1,108,895 (8,037 ) 1,100,858 Current portion of provisions 73,509 (3,723 ) 69,786 Current portion of long-term debt 113,511 (14,086 ) 99,425 Current portion of lease liabilities — 172,402 172,402 Long-term provisions 24,946 (2,264 ) 22,682 Long-term debt 2,217,696 (16,253 ) 2,201,443 Long-term lease liabilities — 739,123 739,123 Other long-term liabilities 213,392 (64,655 ) 148,737 Deferred tax liabilities 178,265 (16,812 ) 161,453 Other liabilities 1,807,429 — 1,807,429 5,737,643 785,695 6,523,338 Equity Retained earnings 4,557,855 (93,873 ) 4,463,982 Other equity 2,326,248 — 2,326,248 6,884,103 (93,873 ) 6,790,230 12,621,746 691,822 13,313,568 3. Summary of significant accounting policies (continued) ADOPTION OF ACCOUNTING STANDARDS (CONTINUED) IFRS 16 - Leases (continued) Impacts at adoption date (continued) Upon adoption of IFRS 16, all operating lease commitments that were presented in the Note 29 of the consolidated financial statements as at September 30, 2019 were recognized as lease liabilities and are now presented in the balance sheet. The Company used its incremental borrowing rates as at October 1, 2019 to measure lease liabilities. The weighted average incremental borrowing rate was 3.69% at the initial application. The following table reconciles operating lease commitments presented in the consolidated financial statements as at September 30, 2019 and the lease liabilities recognized on October 1, 2019: Operating lease commitments as at September 30, 2019 847,502 Discounted using the weighted average incremental borrowing rate as at October 1, 2019 (96,638 ) Finance lease obligations presented as at September 30, 2019 30,339 Termination options reasonably certain to be exercised (22,748 ) Extension options reasonably certain to be exercised 153,070 Lease liabilities recognized as at October 1, 2019 911,525 Current portion of lease liabilities 172,402 Long-term lease liabilities 739,123 Total lease liabilities recognized as at October 1, 2019 911,525 For the year ended September 30, 2020, the impacts of the application of IFRS 16 are a decrease in property costs of $195,848,000 , an increase in amortization and depreciation of $157,974,000 , as well as an increase in finance costs of $31,957,000 . In addition, the cash provided by operating activities increased by $165,348,000 , with the offset presented in the cash provided by (used in) financing activities. Accounting policies for the fiscal year ended September 30, 2019, under IAS 17, Leases Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee. All other leases are classified as operating leases. Assets held under finance leases are initially recognized in PP&E at an amount equal to the fair value of the leased assets or, if lower, the present value of minimum lease payments at the inception of the lease, and then depreciated over the economic useful life of the asset or lease term, whichever is shorter. The capital element of future lease payments is included in the consolidated balance sheets within long-term debt. Interest is charged to the consolidated statements of earnings so as to achieve a constant rate of interest on the remaining balance of the liability. Lease payments under operating leases are charged to the consolidated statements of earnings on a straight-line basis over the lease term. Operating lease incentives, typically for premises, are recognized as a reduction in rental expense over the lease term. The Company accrues provisions for onerous leases which consist of estimated costs associated with vacated premises. The provisions reflect the present value of lease payments in excess of the expected sublease proceeds on the remaining term of the lease. 3. Summary of significant accounting policies (continued) ADOPTION OF ACCOUNTING STANDARDS (CONTINUED) Amendments to IFRS 9, IAS 39 and IFRS 7 - Interest rate benchmark reform In September 2019, the IASB has amended some of its requirements to address the uncertainty arising from the planned phasing out of interest-rate benchmarks such as interbank offered rates (IBORs). The amendments provide temporary relief from applying specific hedge accounting requirements affected by the interest rate benchmark reform. The amendments impact IFRS 9 Financial instruments , IAS 39 Financial instruments: Recognition and measurement and IFRS 7 Financial instruments: Disclosures . The amendments come into effect for annual periods beginning on or after January 1, 2020 but early adoption is permitted. The Company elected to early adopt the Amendments to IFRS 9, IAS 39 and IFRS 7 - Interest rate benchmark reform as at October 1, 2019 and applied retrospectively the reform to hedging relationship that existed on the application date and to the amount accumulated in the cash flow hedge reserve at that date. The Company has a debt expiring in December 2023 with a principal amount of U.S. $500,000,000 bearing interest based on the 1 month USD LIBOR rate. The debt has a carrying value of $666,250,000 as at September 30, 2020. The Company has entered into cross-currency interest rate swaps with aggregate notional amounts of U.S. $500,000,000 maturing on the same date as the debt (the hedging instruments) on which it receives interest based on the same 1 month USD LIBOR rate. The cross-currency interest rate swaps were designated as cash flow hedge for the debt. During the year ended September 30, 2020, the Company entered into a two -year unsecured committed term loan credit facility (the 2020 Term Loan) for a total principal amount of U.S. $1,250,000,000 , refer to Note 32. The 2020 Term Loan expires in March 2022, bears interest based on the 1 month USD LIBOR rate and has a carrying value of $1,665,625,000 as at September 30, 2020. For its hedges relationship, the Company assumes that the LIBOR interest rates used for the settlements on the debts and the swaps will continue to be available beyond the planned phase out date at the end of December 2021. FUTURE ACCOUNTING STANDARD CHANGES The following standards have been issued but are not yet effective as of September 30, 2020 . LIBOR reform with amendments to IFRS 9, IAS 29, IFRS 7 and IFRS 16 In August 2020, the IASB issued Interest Rate Benchmark Reform-Phase 2, which amends IFRS 9 Financial Instruments , IAS 39 Financial Instruments: Recognition and Measurement , IFRS 7 Financial Instruments: Disclosures and IFRS 16 Leases . The amendments complement those issued in 2019 and focus on the effects on financial statements when a company replaces the old interest rate benchmark with an alternative benchmark rate as a result of the reform. The standard will be effective on October 1, 2021 for the Company. The Company is currently evaluating the impact of this standard on its financial statements. |
Summary of significant accoun_3
Summary of significant accounting policies (Tables) | 12 Months Ended |
Sep. 30, 2020 | |
Corporate Information And Statement Of IFRS Compliance [Abstract] | |
Disclosure of detailed information about property, plant and equipment | Buildings 10 to 40 years Leasehold improvements Lesser of the useful life or lease term Furniture, fixtures and equipment 3 to 20 years Computer equipment 3 to 5 years Land and buildings Leasehold improvements Furniture, fixtures and equipment Computer equipment Total $ $ $ $ $ Cost As at September 30, 2019 58,614 224,559 180,638 714,629 1,178,440 Adoption of IFRS 16 (Note 3) — — (14,578 ) (40,357 ) (54,935 ) As at October 1, 2019 58,614 224,559 166,060 674,272 1,123,505 Additions 5,759 28,188 12,225 79,057 125,229 Additions - business acquisitions (Note 27a) 12,730 1,013 2,683 2,474 18,900 Disposals/retirements — (17,160 ) (19,405 ) (118,490 ) (155,055 ) Foreign currency translation adjustment 2,178 4,942 3,656 24,578 35,354 As at September 30, 2020 79,281 241,542 165,219 661,891 1,147,933 Accumulated depreciation As at September 30, 2019 16,961 139,726 118,672 505,420 780,779 Adoption of IFRS 16 (Note 3) — — (8,285 ) (24,787 ) (33,072 ) As at October 1, 2019 16,961 139,726 110,387 480,633 747,707 Depreciation expense (Note 24) 1,895 24,965 14,240 115,490 156,590 Impairment (Note 24) — — — 1,035 1,035 Disposals/retirements — (17,160 ) (19,021 ) (117,681 ) (153,862 ) Foreign currency translation adjustment 1,268 3,041 2,454 16,754 23,517 As at September 30, 2020 20,124 150,572 108,060 496,231 774,987 Net carrying amount as at September 30, 2020 59,157 90,970 57,159 165,660 372,946 Land and buildings Leasehold improvements Furniture, fixtures and equipment Computer equipment Total $ $ $ $ $ Cost As at September 30, 2018 58,455 204,888 164,634 686,499 1,114,476 Additions 619 40,915 19,568 104,887 165,989 Additions - business acquisitions ( Note 27b ) — 5,320 981 1,374 7,675 Disposals/retirements — (25,565 ) (4,146 ) (67,291 ) (97,002 ) Foreign currency translation adjustment (460 ) (999 ) (399 ) (10,840 ) (12,698 ) As at September 30, 2019 58,614 224,559 180,638 714,629 1,178,440 Accumulated depreciation As at September 30, 2018 14,652 144,275 106,223 461,233 726,383 Depreciation expense (Note 24) 2,601 21,021 16,428 119,214 159,264 Disposals/retirements — (25,099 ) (3,836 ) (67,223 ) (96,158 ) Foreign currency translation adjustment (292 ) (471 ) (143 ) (7,804 ) (8,710 ) As at September 30, 2019 16,961 139,726 118,672 505,420 780,779 Net carrying amount as at September 30, 2019 41,653 84,833 61,966 209,209 397,661 |
Disclosure of estimated useful lives of intangible assets | Internal-use software 2 to 7 years Business solutions 2 to 10 years Software licenses 3 to 8 years Client relationships 2 to 10 years Internal-use software acquired Internal-use software internally developed Business solutions acquired Business solutions internally developed Software licenses Client relationships Total $ $ $ $ $ $ $ Cost As at September 30, 2019 99,204 123,289 81,028 511,384 221,510 1,095,339 2,131,754 Additions 929 9,861 229 88,900 10,738 — 110,657 Additions - business acquisitions (Note 27a) — — — — 507 47,303 47,810 Disposals/retirements (4,652 ) (2,826 ) (7,506 ) (34,810 ) (47,888 ) (2,376 ) (100,058 ) Foreign currency translation adjustment 1,419 974 2,527 5,541 5,505 47,596 63,562 As at September 30, 2020 96,900 131,298 76,278 571,015 190,372 1,187,862 2,253,725 Accumulated amortization As at September 30, 2019 80,467 69,095 79,907 317,846 159,591 906,866 1,613,772 Amortization expense (Note 24) 7,336 12,986 316 41,928 26,411 68,401 157,378 Impairment (Note 24) — — — 10,633 — — 10,633 Disposals/retirements (4,652 ) (2,826 ) (7,506 ) (34,810 ) (47,146 ) (453 ) (97,393 ) Foreign currency translation adjustment 1,280 490 2,453 2,525 3,600 37,525 47,873 As at September 30, 2020 84,431 79,745 75,170 338,122 142,456 1,012,339 1,732,263 Net carrying amount as at September 30, 12,469 51,553 1,108 232,893 47,916 175,523 521,462 Internal-use software acquired Internal-use software internally developed Business solutions acquired Business solutions internally developed Software licenses Client relationships Total $ $ $ $ $ $ $ Cost As at September 30, 2018 95,707 114,701 82,256 444,593 216,490 1,025,083 1,978,830 Additions 4,321 9,433 911 61,693 20,196 — 96,554 Additions - business acquisitions (Note 27b) 77 — — — 201 113,786 114,064 Disposals/retirements (436 ) (326 ) (803 ) (46 ) (13,281 ) (24,321 ) (39,213 ) Foreign currency translation adjustment (465 ) (519 ) (1,336 ) 5,144 (2,096 ) (19,209 ) (18,481 ) As at September 30, 2019 99,204 123,289 81,028 511,384 221,510 1,095,339 2,131,754 Accumulated amortization As at September 30, 2018 72,177 58,212 80,586 277,092 145,078 866,359 1,499,504 Amortization expense (Note 24) 8,872 11,513 1,319 37,318 29,356 76,182 164,560 Disposals/retirements (436 ) (326 ) (803 ) (46 ) (13,247 ) (24,321 ) (39,179 ) Foreign currency translation adjustment (146 ) (304 ) (1,195 ) 3,482 (1,596 ) (11,354 ) (11,113 ) As at September 30, 2019 80,467 69,095 79,907 317,846 159,591 906,866 1,613,772 Net carrying amount as at September 30, 18,737 54,194 1,121 193,538 61,919 188,473 517,982 |
Disclosure of initial application of standards | The following table shows the impacts of the adoption of IFRS 16 on the Company’s consolidated balance sheet as of October 1, 2019: Balance sheet as at September 30, 2019 IFRS 16 adoption Balance sheet as at October 1, 2019 $ $ $ Assets Accounts receivable 1,357,090 3,319 1,360,409 Prepaid expenses and other current assets 172,182 (6,365 ) 165,817 Property, plant and equipment 397,661 (21,863 ) 375,798 Right-of-use assets — 701,346 701,346 Other long-term assets 180,480 607 181,087 Deferred tax assets 100,539 14,778 115,317 Other assets 10,413,794 — 10,413,794 12,621,746 691,822 13,313,568 Liabilities Accounts payable and accrued liabilities 1,108,895 (8,037 ) 1,100,858 Current portion of provisions 73,509 (3,723 ) 69,786 Current portion of long-term debt 113,511 (14,086 ) 99,425 Current portion of lease liabilities — 172,402 172,402 Long-term provisions 24,946 (2,264 ) 22,682 Long-term debt 2,217,696 (16,253 ) 2,201,443 Long-term lease liabilities — 739,123 739,123 Other long-term liabilities 213,392 (64,655 ) 148,737 Deferred tax liabilities 178,265 (16,812 ) 161,453 Other liabilities 1,807,429 — 1,807,429 5,737,643 785,695 6,523,338 Equity Retained earnings 4,557,855 (93,873 ) 4,463,982 Other equity 2,326,248 — 2,326,248 6,884,103 (93,873 ) 6,790,230 12,621,746 691,822 13,313,568 |
Explanation of difference between operating lease commitments disclosed applying IAS 17 and lease liabilities recognised at date of initial application of IFRS 16 | The following table reconciles operating lease commitments presented in the consolidated financial statements as at September 30, 2019 and the lease liabilities recognized on October 1, 2019: Operating lease commitments as at September 30, 2019 847,502 Discounted using the weighted average incremental borrowing rate as at October 1, 2019 (96,638 ) Finance lease obligations presented as at September 30, 2019 30,339 Termination options reasonably certain to be exercised (22,748 ) Extension options reasonably certain to be exercised 153,070 Lease liabilities recognized as at October 1, 2019 911,525 Current portion of lease liabilities 172,402 Long-term lease liabilities 739,123 Total lease liabilities recognized as at October 1, 2019 911,525 |
Accounts receivable (Tables)
Accounts receivable (Tables) | 12 Months Ended |
Sep. 30, 2020 | |
Subclassifications of assets, liabilities and equities [abstract] | |
Disclosure of Accounts Receivable | As at As at $ $ Trade (Note 32) 904,887 979,728 R&D and other tax credits 1 180,953 259,289 Other 133,462 118,073 1,219,302 1,357,090 1 R&D and other tax credits were related to government programs in Canada, the United States, France, the United Kingdom and other countries. |
Funds held for clients (Tables)
Funds held for clients (Tables) | 12 Months Ended |
Sep. 30, 2020 | |
Funds Held For Clients [Abstract] | |
Disclosure of Funds Held For Clients | As at As at $ $ Cash 576,708 187,823 Long-term bonds (Note 32) 148,470 180,289 725,178 368,112 |
Property, plant and equipment (
Property, plant and equipment (Tables) | 12 Months Ended |
Sep. 30, 2020 | |
Property, plant and equipment [abstract] | |
Disclosure of detailed information about property, plant and equipment | Buildings 10 to 40 years Leasehold improvements Lesser of the useful life or lease term Furniture, fixtures and equipment 3 to 20 years Computer equipment 3 to 5 years Land and buildings Leasehold improvements Furniture, fixtures and equipment Computer equipment Total $ $ $ $ $ Cost As at September 30, 2019 58,614 224,559 180,638 714,629 1,178,440 Adoption of IFRS 16 (Note 3) — — (14,578 ) (40,357 ) (54,935 ) As at October 1, 2019 58,614 224,559 166,060 674,272 1,123,505 Additions 5,759 28,188 12,225 79,057 125,229 Additions - business acquisitions (Note 27a) 12,730 1,013 2,683 2,474 18,900 Disposals/retirements — (17,160 ) (19,405 ) (118,490 ) (155,055 ) Foreign currency translation adjustment 2,178 4,942 3,656 24,578 35,354 As at September 30, 2020 79,281 241,542 165,219 661,891 1,147,933 Accumulated depreciation As at September 30, 2019 16,961 139,726 118,672 505,420 780,779 Adoption of IFRS 16 (Note 3) — — (8,285 ) (24,787 ) (33,072 ) As at October 1, 2019 16,961 139,726 110,387 480,633 747,707 Depreciation expense (Note 24) 1,895 24,965 14,240 115,490 156,590 Impairment (Note 24) — — — 1,035 1,035 Disposals/retirements — (17,160 ) (19,021 ) (117,681 ) (153,862 ) Foreign currency translation adjustment 1,268 3,041 2,454 16,754 23,517 As at September 30, 2020 20,124 150,572 108,060 496,231 774,987 Net carrying amount as at September 30, 2020 59,157 90,970 57,159 165,660 372,946 Land and buildings Leasehold improvements Furniture, fixtures and equipment Computer equipment Total $ $ $ $ $ Cost As at September 30, 2018 58,455 204,888 164,634 686,499 1,114,476 Additions 619 40,915 19,568 104,887 165,989 Additions - business acquisitions ( Note 27b ) — 5,320 981 1,374 7,675 Disposals/retirements — (25,565 ) (4,146 ) (67,291 ) (97,002 ) Foreign currency translation adjustment (460 ) (999 ) (399 ) (10,840 ) (12,698 ) As at September 30, 2019 58,614 224,559 180,638 714,629 1,178,440 Accumulated depreciation As at September 30, 2018 14,652 144,275 106,223 461,233 726,383 Depreciation expense (Note 24) 2,601 21,021 16,428 119,214 159,264 Disposals/retirements — (25,099 ) (3,836 ) (67,223 ) (96,158 ) Foreign currency translation adjustment (292 ) (471 ) (143 ) (7,804 ) (8,710 ) As at September 30, 2019 16,961 139,726 118,672 505,420 780,779 Net carrying amount as at September 30, 2019 41,653 84,833 61,966 209,209 397,661 |
Right of use assets (Tables)
Right of use assets (Tables) | 12 Months Ended |
Sep. 30, 2020 | |
Presentation of leases for lessee [abstract] | |
Disclosure of quantitative information about right-of-use assets | Properties Motor vehicles and others Computer equipment Total $ $ $ $ Cost As at September 30, 2019 — — — — Adoption of IFRS 16 (Note 3) 1,070,987 230,707 40,357 1,342,051 As at October 1, 2019 1,070,987 230,707 40,357 1,342,051 Additions 59,556 56,976 2,390 118,922 Additions - business acquisitions (Note 27a) 11,859 — — 11,859 Change in estimates and lease modifications (6,460 ) — — (6,460 ) Disposals/retirements (56,986 ) (61,941 ) (3,110 ) (122,037 ) Foreign currency translation adjustment 45,302 8,234 1,328 54,864 As at September 30, 2020 1,124,258 233,976 40,965 1,399,199 Accumulated depreciation As at September 30, 2019 — — — — Adoption of IFRS 16 (Note 3) 546,537 69,381 24,787 640,705 As at October 1, 2019 546,537 69,381 24,787 640,705 Depreciation expense (Note 24) 127,931 33,140 7,168 168,239 Impairment (Note 24) 8,361 — — 8,361 Disposals/retirements (56,986 ) (52,467 ) (3,110 ) (112,563 ) Foreign currency translation adjustment 24,028 2,803 761 27,592 As at September 30, 2020 649,871 52,857 29,606 732,334 Net carrying amount as at September 30, 2020 474,387 181,119 11,359 666,865 |
Contract costs (Tables)
Contract costs (Tables) | 12 Months Ended |
Sep. 30, 2020 | |
Revenue From Contracts With Customers [Abstract] | |
Disclosure of Contract Costs | As at September 30, 2020 As at September 30, 2019 Cost Accumulated amortization Net carrying amount Cost Accumulated amortization Net carrying amount $ $ $ $ $ $ Transition costs 477,174 246,468 230,706 476,075 258,283 217,792 Incentives 67,545 58,875 8,670 61,258 56,085 5,173 544,719 305,343 239,376 537,333 314,368 222,965 |
Intangible assets (Tables)
Intangible assets (Tables) | 12 Months Ended |
Sep. 30, 2020 | |
Intangible Assets [Abstract] | |
Disclosure of detailed information about intangible assets | Internal-use software 2 to 7 years Business solutions 2 to 10 years Software licenses 3 to 8 years Client relationships 2 to 10 years Internal-use software acquired Internal-use software internally developed Business solutions acquired Business solutions internally developed Software licenses Client relationships Total $ $ $ $ $ $ $ Cost As at September 30, 2019 99,204 123,289 81,028 511,384 221,510 1,095,339 2,131,754 Additions 929 9,861 229 88,900 10,738 — 110,657 Additions - business acquisitions (Note 27a) — — — — 507 47,303 47,810 Disposals/retirements (4,652 ) (2,826 ) (7,506 ) (34,810 ) (47,888 ) (2,376 ) (100,058 ) Foreign currency translation adjustment 1,419 974 2,527 5,541 5,505 47,596 63,562 As at September 30, 2020 96,900 131,298 76,278 571,015 190,372 1,187,862 2,253,725 Accumulated amortization As at September 30, 2019 80,467 69,095 79,907 317,846 159,591 906,866 1,613,772 Amortization expense (Note 24) 7,336 12,986 316 41,928 26,411 68,401 157,378 Impairment (Note 24) — — — 10,633 — — 10,633 Disposals/retirements (4,652 ) (2,826 ) (7,506 ) (34,810 ) (47,146 ) (453 ) (97,393 ) Foreign currency translation adjustment 1,280 490 2,453 2,525 3,600 37,525 47,873 As at September 30, 2020 84,431 79,745 75,170 338,122 142,456 1,012,339 1,732,263 Net carrying amount as at September 30, 12,469 51,553 1,108 232,893 47,916 175,523 521,462 Internal-use software acquired Internal-use software internally developed Business solutions acquired Business solutions internally developed Software licenses Client relationships Total $ $ $ $ $ $ $ Cost As at September 30, 2018 95,707 114,701 82,256 444,593 216,490 1,025,083 1,978,830 Additions 4,321 9,433 911 61,693 20,196 — 96,554 Additions - business acquisitions (Note 27b) 77 — — — 201 113,786 114,064 Disposals/retirements (436 ) (326 ) (803 ) (46 ) (13,281 ) (24,321 ) (39,213 ) Foreign currency translation adjustment (465 ) (519 ) (1,336 ) 5,144 (2,096 ) (19,209 ) (18,481 ) As at September 30, 2019 99,204 123,289 81,028 511,384 221,510 1,095,339 2,131,754 Accumulated amortization As at September 30, 2018 72,177 58,212 80,586 277,092 145,078 866,359 1,499,504 Amortization expense (Note 24) 8,872 11,513 1,319 37,318 29,356 76,182 164,560 Disposals/retirements (436 ) (326 ) (803 ) (46 ) (13,247 ) (24,321 ) (39,179 ) Foreign currency translation adjustment (146 ) (304 ) (1,195 ) 3,482 (1,596 ) (11,354 ) (11,113 ) As at September 30, 2019 80,467 69,095 79,907 317,846 159,591 906,866 1,613,772 Net carrying amount as at September 30, 18,737 54,194 1,121 193,538 61,919 188,473 517,982 |
Other long-term assets (Tables)
Other long-term assets (Tables) | 12 Months Ended |
Sep. 30, 2020 | |
Subclassifications of assets, liabilities and equities [abstract] | |
Disclosure of Other Long-Term Assets | As at As at $ $ Prepaid long-term maintenance agreements 17,567 20,532 Insurance contracts held to fund defined benefit pension and life assurance arrangements - reimbursement rights (Note 17) 24,033 23,879 Retirement benefits assets (Note 17) 86,127 96,620 Deposits 13,312 13,999 Deferred financing fees 3,408 3,798 Other 19,292 21,652 163,739 180,480 |
Long-term financial assets (Tab
Long-term financial assets (Tables) | 12 Months Ended |
Sep. 30, 2020 | |
Subclassifications of assets, liabilities and equities [abstract] | |
Disclosure of Long-Term Financial Assets | As at As at $ $ Deferred compensation plan assets (Notes 17 and 32) 73,156 62,627 Long-term investments (Note 32) 22,612 24,596 Long-term receivables 20,623 18,034 Long-term derivative financial instruments (Note 32) 40,178 71,642 156,569 176,899 |
Goodwill (Tables)
Goodwill (Tables) | 12 Months Ended |
Sep. 30, 2020 | |
Intangible Assets [Abstract] | |
Disclosure of variations in goodwill | The variations in goodwill were as follows: Western and Southern Europe U.S. Commercial and State Government Canada U.S. Federal U.K. and Australia Central and Eastern Europe Scandinavia Finland, Poland and Baltics Asia Pacific Total $ $ $ $ $ $ $ $ $ $ As at September 30, 2019 975,075 1,134,246 1,136,737 918,064 806,318 820,565 1,703,927 — 272,905 7,767,837 Business acquisitions (Note 27) 32,272 — 5,411 86,882 53,021 95,285 (6,604 ) — — 266,267 Goodwill reallocation — 6,324 — (6,324 ) — — (613,472 ) 613,472 — — Sale of business — — — — — — (3,411 ) — — (3,411 ) Foreign currency translation adjustment 81,752 6,737 — 540 45,633 69,999 89,433 46,406 8,738 349,238 As at September 30, 2020 1,089,099 1,147,307 1,142,148 999,162 904,972 985,849 1,169,873 659,878 281,643 8,379,931 |
Key assumptions for cash-generating units | The key assumptions for the CGUs are disclosed in the following tables for the years ended September 30: 2020 Western and Southern Europe U.S. Commercial and State Government Canada U.S. Federal U.K. and Australia Central and Eastern Europe Scandinavia Finland, Poland and Baltics Asia Pacific % % % % % % % % % Pre-tax WACC 11.2 9.3 9.6 8.5 9.3 10.2 10.0 10.8 23.0 Long-term growth rate of net operating cash flows 1 1.7 2.0 2.0 2.0 2.0 1.9 1.9 1.7 2.0 2019 Western and Southern Europe U.S. Commercial and State Government Canada U.S. Federal U.K. and Australia Central and Eastern Europe Northern Europe Asia Pacific % % % % % % % % Pre-tax WACC 9.1 10.0 8.9 9.9 8.9 9.1 9.4 21.4 Long-term growth rate of net operating cash flows 1 1.8 2.0 2.0 2.0 1.9 1.5 1.8 2.0 1 The long-term growth rate is based on published industry research. |
Provisions (Tables)
Provisions (Tables) | 12 Months Ended |
Sep. 30, 2020 | |
Subclassifications of assets, liabilities and equities [abstract] | |
Disclosure of Movement in Provisions | Restructuring 1 Decommissioning liabilities 2 Others 3 Total $ $ $ $ As at September 30, 2019 39,212 25,824 33,419 98,455 Adoption of IFRS 16 (Note 3) — — (5,987 ) (5,987 ) As at October 1, 2019 39,212 25,824 27,432 92,468 Additional provisions 193,592 5,328 34,842 233,762 Business acquisitions — 351 24,823 25,174 Utilized amounts (119,331 ) (3,667 ) (24,091 ) (147,089 ) Reversals of unused amounts — (3,006 ) (6,532 ) (9,538 ) Discount rate adjustment and imputed interest — 158 — 158 Foreign currency translation adjusment 1,799 1,573 1,213 4,585 As at September 30, 2020 115,272 26,561 57,687 199,520 Current portion 112,731 8,609 54,292 175,632 Non-current portion 2,541 17,952 3,395 23,888 1 See Note 25, Restructuring costs and Note 27c), Investments in subsidiaries. 2 As at September 30, 2020 , the decommissioning liabilities were based on the expected cash flows of $ 27,390,000 and were discounted at a weighted average rate of 0.59% . The timing of settlements of these obligations ranges between one and thirteen years as at September 30, 2020. The reversals of unused amounts are mostly due to favourable settlements. 3 As at September 30, 2020 , others included onerous revenue-generating contracts, onerous supplier contracts and litigation and claims. |
Long-term debt (Tables)
Long-term debt (Tables) | 12 Months Ended |
Sep. 30, 2020 | |
Financial Instruments [Abstract] | |
Disclosure of Long-Term Debt | As at As at $ $ Senior U.S. unsecured note repayable of $333,125 (U.S.$250,000) in December 2021 1 339,682 332,533 Senior unsecured notes repayable in September by tranches of $73,288 (U.S.$55,000) in 2021, $399,750 (U.S.$300,000) in 2024, $266,500 (U.S.$200,000) in four yearly repayments of U.S.$50,000 from 2021 to 2024 and $132,787 (€85,000) in 2021 2 872,283 924,021 Unsecured committed revolving credit facility 3 — 334,370 Unsecured committed term loan credit facilities 4 2,330,288 661,939 Obligations under finance leases repayable in blended monthly installments (maturing at various dates until 2024, bearing a weighted average interest rate of 2.44% in 2019) (Note 3) — 30,339 Other long-term debt 44,842 48,005 3,587,095 2,331,207 Current portion 310,764 113,511 3,276,331 2,217,696 1 As at September 30, 2020 , an amount of $333,125,000 was borrowed, plus fair value adjustments relating to interest rate swaps designated as fair value hedges of $6,470,000 and less financing fees. The private placement financing with U.S. institutional investors is comprised of one tranche of Senior U.S. unsecured note, due in December 2021, with an interest rate of 4.99% (interest rate of 4.99% in 2019 ). The Senior U.S. unsecured note contains covenants that require the Company to maintain certain financial ratios (Note 33). As at September 30, 2020 , the Company was in compliance with these covenants. 2 As at September 30, 2020 , an amount of $872,325,000 was borrowed, less financing fees. The private placement is comprised of three tranches of Senior U.S. unsecured notes and one tranche of Senior euro unsecured note, with a weighted average maturity of 2.8 years and a weighted average interest rate of 3.64% ( 3.66% in 2019 ). In September 2020 , the Company repaid the third of the seven yearly scheduled repayments of U.S. $50,000,000 on a tranche of the Senior U . S. unsecured notes for a total amount of $65,860,000 and settled the related cross-currency swaps (Note 32). The Senior unsecured notes contain covenants that require the Company to maintain certain financial ratios (Note 33). As at September 30, 2020 , the Company was in compliance with these covenants. 3 The Company has an unsecured committed revolving credit facility available for an amount of $1,500,000,000 that expires in December 2024. This facility bears interest at bankers' acceptance, LIBOR or Canadian prime, plus a variable margin that is determined based on the Company's leverage ratio. As at September 30, 2020 , there was no amount drawn upon this facility. An amount of $9,699,000 has been committed against this facility to cover various letters of credit issued for clients and other parties. The unsecured committed revolving credit facility contains covenants that require the Company to maintain certain financial ratios (Note 33). As at September 30, 2020 , the Company was in compliance with these covenants. 4 During the year ended September 30, 2020, the Company entered into the 2020 Term Loan for a total principal amount of U.S. $1,250,000,000 (Note 32). The 2020 Term Loan expires in March 2022, bears interest based on the 1 month USD LIBOR rate, plus a variable margin that is determined based on the Company's leverage ratio. As at September 30, 2020 , an amount of $1,665,625,000 was borrowed less financing fees with a weighted average interest rate of 0.16 % and a margin of 1.50% . In addition, the Company has an unsecured committed term loan credit facility for a notional amount of U.S. $500,000,000 expiring in December 2023. This facility bears interest based on the 1 month USD LIBOR rate, plus a variable margin that is determined based on the Company's leverage ratio. As at September 30, 2020, an amount of $666,250,000 was borrowed less financing fees with a weighted average interest rate ratio of 0.16% and a margin of 1.00 %. The unsecured committed term loan credit facilities contains covenants that require the Company to maintain certain financial ratios (Note 33). As at September 30, 2020 , the Company was in compliance with these covenants. |
Other long-term liabilities (Ta
Other long-term liabilities (Tables) | 12 Months Ended |
Sep. 30, 2020 | |
Subclassifications of assets, liabilities and equities [abstract] | |
Disclosure of Other Long-Term Liabilities | As at As at $ $ Deferred revenue 38,466 70,522 Deferred compensation plan liabilities (Note 17) 82,221 63,838 Deferred rent (Note 3) — 64,655 Other 1 64,687 14,377 185,374 213,392 1 As at September 30, 2020, other is mainly composed of $48,299,000 in relation with the deferral of the employer side social security payments under the U.S. Government Coronavirus Aid, Relief, and Economic Security Act (CARES Act). |
Income taxes (Tables)
Income taxes (Tables) | 12 Months Ended |
Sep. 30, 2020 | |
Income Taxes [Abstract] | |
Disclosure of Income Tax Expense | Year ended September 30 2020 2019 $ $ Current income tax expense Current income tax expense in respect of the current year 416,563 439,972 Adjustments recognized in the current year in relation to the income tax expense of prior years (24,328 ) (17,934 ) Total current income tax expense 392,235 422,038 Deferred income tax expense (recovery) Deferred income tax recovery relating to the origination and reversal of temporary differences (1,120 ) (959 ) Deferred income tax (recovery) expense relating to changes in tax rates (3,479 ) 784 Adjustments recognized in the current year in relation to the deferred income tax recovery of prior years 10,769 — Recognition of previously unrecognized temporary differences — (8,122 ) Total deferred income tax expense (recovery) 6,170 (8,297 ) Total income tax expense 398,405 413,741 |
Reconciliation of Effective Income Tax Rate from the Combined Federal and Provincial Canadian Statutory Tax Rate | The Company’s effective income tax rate differs from the combined Federal and Provincial Canadian statutory tax rate as follows: Year ended September 30 2020 2019 % % Company's statutory tax rate 26.5 26.6 Effect of foreign tax rate differences (0.9 ) (1.6 ) Final determination from agreements with tax authorities and expirations of statutes of limitations (0.9 ) (1.4 ) Non-deductible and tax exempt items 0.2 0.2 Effect of integration-related costs 0.7 0.1 Minimum income tax charge 0.9 0.8 Changes in tax laws and rates (0.2 ) — Effective income tax rate 26.3 24.7 |
Disclosure of the Continuity of Deferred Tax Balances | The continuity schedule of deferred tax balances is as follows: As at Adoption of IFRS 16 (Note 3) As at October 1, 2020 Additions from business acquisitions Recognized in earnings Recognized Recognized in equity Foreign currency translation adjustment and other As at $ $ $ $ $ $ $ $ $ Accounts payable and accrued liabilities, provisions and other long-term liabilities 67,926 (17,150 ) 50,776 47 12,819 (7 ) — 573 64,208 Tax benefits on losses carried forward 59,163 — 59,163 886 (17,492 ) — — 3,671 46,228 Accrued compensation 45,407 — 45,407 — (2,464 ) — (16,933 ) 1,410 27,420 Retirement benefits obligations 17,904 — 17,904 60 (4,959 ) 8,282 — 1,879 23,166 Lease liabilities — 231,562 231,562 3,751 (18,864 ) — — 6,548 222,997 PP&E, contract costs, intangible assets and other long-term assets (123,147 ) — (123,147 ) (5,933 ) (6,710 ) — — (670 ) (136,460 ) Right-of-use assets — (182,822 ) (182,822 ) (3,658 ) 21,133 — — (6,488 ) (171,835 ) Work in progress (43,569 ) — (43,569 ) 170 9,532 — — (410 ) (34,277 ) Goodwill (60,366 ) — (60,366 ) (757 ) (2,127 ) — — (959 ) (64,209 ) Refundable tax credits on salaries (25,819 ) — (25,819 ) — 3,095 — — — (22,724 ) Cash flow hedges (13,903 ) — (13,903 ) — (869 ) 13,773 — 524 (475 ) Other (1,322 ) — (1,322 ) 1,354 736 1,095 — (759 ) 1,104 Deferred taxes, net (77,726 ) 31,590 (46,136 ) (4,080 ) (6,170 ) 23,143 (16,933 ) 5,319 (44,857 ) As at September 30, 2018 Additions from business acquisitions Recognized in earnings Recognized Recognized in equity Foreign currency translation adjustment and other As at 30, 2019 $ $ $ $ $ $ $ Accounts payable and accrued liabilities, provisions and other long-term liabilities 78,177 (3,220 ) (8,394 ) — — 1,363 67,926 Tax benefits on losses carried forward 62,415 — (1,001 ) — — (2,251 ) 59,163 Accrued compensation 34,887 18 3,995 — 6,132 375 45,407 Retirement benefits obligations 25,418 — (2,683 ) (4,324 ) — (507 ) 17,904 Allowance for doubtful accounts (260 ) — 260 — — — — PP&E, contract costs, intangible assets and other long-term assets (106,207 ) (24,514 ) 7,788 — — (214 ) (123,147 ) Work in progress (59,142 ) — 16,010 — — (437 ) (43,569 ) Goodwill (53,891 ) — (5,407 ) — — (1,068 ) (60,366 ) Refundable tax credits on salaries (26,502 ) — 683 — — — (25,819 ) Cash flow hedges 12,398 — (1,470 ) (25,290 ) — 459 (13,903 ) Other (638 ) 76 (1,484 ) 2,374 — (1,650 ) (1,322 ) Deferred taxes, net (33,345 ) (27,640 ) 8,297 (27,240 ) 6,132 (3,930 ) (77,726 ) The deferred tax balances are presented as follows in the consolidated balance sheets: As at As at $ $ Deferred tax assets 113,484 100,539 Deferred tax liabilities (158,341 ) (178,265 ) (44,857 ) (77,726 ) |
Employee benefits (Tables)
Employee benefits (Tables) | 12 Months Ended |
Sep. 30, 2020 | |
Employee Benefits [Abstract] | |
Disclosure of net defined benefit liability (asset) | The following tables present amounts for post-employment benefits plans included in the consolidated balance sheets: As at September 30, 2020 U.K. Germany France Other Total $ $ $ $ $ Defined benefit obligations (891,628 ) (104,090 ) (84,442 ) (83,584 ) (1,163,744 ) Fair value of plan assets 977,137 12,766 692 33,829 1,024,424 85,509 (91,324 ) (83,750 ) (49,755 ) (139,320 ) Fair value of reimbursement rights — 22,505 — 1,528 24,033 Net asset (liability) recognized in the balance sheet 85,509 (68,819 ) (83,750 ) (48,227 ) (115,287 ) Presented as: Other long-term assets (Note 10) Insurance contracts held to fund defined benefit pension and life assurance arrangements - reimbursement rights — 22,505 — 1,528 24,033 Retirement benefits assets 85,509 — — 618 86,127 Retirement benefits obligations — (91,324 ) (83,750 ) (50,373 ) (225,447 ) 85,509 (68,819 ) (83,750 ) (48,227 ) (115,287 ) As at September 30, 2019 U.K. Germany France Other Total $ $ $ $ $ Defined benefit obligations (812,179 ) (101,298 ) (58,048 ) (73,059 ) (1,044,584 ) Fair value of plan assets 908,406 12,803 — 26,786 947,995 96,227 (88,495 ) (58,048 ) (46,273 ) (96,589 ) Fair value of reimbursement rights — 22,360 — 1,519 23,879 Net asset (liability) recognized in the balance sheet 96,227 (66,135 ) (58,048 ) (44,754 ) (72,710 ) Presented as: Other long-term assets (Note 10) Insurance contracts held to fund defined benefit pension and life assurance arrangements - reimbursement rights — 22,360 — 1,519 23,879 Retirement benefits assets 96,227 — — 393 96,620 Retirement benefits obligations — (88,495 ) (58,048 ) (46,666 ) (193,209 ) 96,227 (66,135 ) (58,048 ) (44,754 ) (72,710 ) 17. Employee benefits (continued) DEFINED BENEFIT PLANS (CONTINUED) Defined benefit obligations U.K. Germany France Other Total $ $ $ $ $ As at September 30, 2019 812,179 101,298 58,048 73,059 1,044,584 Current service cost 1,060 776 4,665 7,974 14,475 Interest cost 15,253 576 347 2,878 19,054 Business acquisitions (Note 27a) — — 1,732 — 1,732 Actuarial losses (gains) due to change in financial assumptions 1 36,135 (1,258 ) 4,279 1,138 40,294 Actuarial losses due to change in demographic assumptions 1 17,671 — 6,401 — 24,072 Actuarial (gains) losses due to experience 1 (8,033 ) (530 ) 4,054 (1,374 ) (5,883 ) Plan participant contributions 91 — — — 91 Benefits paid from the plan (28,793 ) (1,645 ) — (2,426 ) (32,864 ) Benefits paid directly by employer — (2,787 ) (454 ) (1,832 ) (5,073 ) Foreign currency translation adjustment 1 46,065 7,660 5,370 4,167 63,262 As at September 30, 2020 891,628 104,090 84,442 83,584 1,163,744 Defined benefit obligations of unfunded plans — — 84,442 35,070 119,512 Defined benefit obligations of funded plans 891,628 104,090 — 48,514 1,044,232 As at September 30, 2020 891,628 104,090 84,442 83,584 1,163,744 Defined benefit obligations U.K. Germany France Other Total $ $ $ $ $ As at September 30, 2018 760,244 89,959 55,276 58,594 964,073 Current service cost 889 689 4,251 6,547 12,376 Interest cost 21,261 1,512 950 3,558 27,281 Past service cost 8,239 — — — 8,239 Business acquisitions (Note 27b) — 1,444 — 6,550 7,994 Actuarial losses due to change in financial assumptions 1 99,257 15,253 7,806 7,072 129,388 Actuarial gains due to change in demographic assumptions 1 (6,947 ) (292 ) (6,667 ) (1,802 ) (15,708 ) Actuarial (gains) losses due to experience 1 (16,773 ) 1,065 (11 ) (1,389 ) (17,108 ) Plan participant contributions 102 — — — 102 Benefits paid from the plan (25,395 ) (263 ) — (3,228 ) (28,886 ) Benefits paid directly by employer — (4,020 ) (1,248 ) (1,831 ) (7,099 ) Foreign currency translation adjustment 1 (28,698 ) (4,049 ) (2,309 ) (1,012 ) (36,068 ) As at September 30, 2019 812,179 101,298 58,048 73,059 1,044,584 Defined benefit obligations of unfunded plans — — 58,048 34,690 92,738 Defined benefit obligations of funded plans 812,179 101,298 — 38,369 951,846 As at September 30, 2019 812,179 101,298 58,048 73,059 1,044,584 1 Amounts recognized in other comprehensive income. 17. Employee benefits (continued) DEFINED BENEFIT PLANS (CONTINUED) Plan assets and reimbursement rights U.K. Germany France Other Total $ $ $ $ $ As at September 30, 2019 908,406 35,163 — 28,305 971,874 Interest income on plan assets 17,255 204 3 964 18,426 Business acquisitions (Note 27a) — — 664 — 664 Employer contributions 14,398 2,430 454 6,874 24,156 Return on assets excluding interest income 1 15,976 46 — (396 ) 15,626 Plan participants contributions 91 — — — 91 Benefits paid from the plan (28,793 ) (1,645 ) — (2,426 ) (32,864 ) Benefits paid directly by employer — (2,787 ) (454 ) (1,831 ) (5,072 ) Administration expenses paid from the plan (1,189 ) — — (58 ) (1,247 ) Foreign currency translation adjustment 1 50,993 1,860 25 3,925 56,803 As at September 30, 2020 977,137 35,271 692 35,357 1,048,457 Plan assets 977,137 12,766 692 33,829 1,024,424 Reimbursement rights — 22,505 — 1,528 24,033 As at September 30, 2020 977,137 35,271 692 35,357 1,048,457 Plan assets and reimbursement rights U.K. Germany France Other Total $ $ $ $ $ As at September 30, 2018 787,550 36,420 — 22,903 846,873 Interest income on plan assets 22,271 620 — 2,425 25,316 Employer contributions 24,430 2,765 1,248 7,025 35,468 Return on assets excluding interest income 1 133,821 (784 ) — 669 133,706 Plan participants contributions 102 — — — 102 Benefits paid from the plan (25,395 ) (263 ) — (3,228 ) (28,886 ) Benefits paid directly by employer — (2,576 ) (1,248 ) (1,831 ) (5,655 ) Administration expenses paid from the plan (1,696 ) — — (152 ) (1,848 ) Foreign currency translation adjustment 1 (32,677 ) (1,019 ) — 494 (33,202 ) As at September 30, 2019 908,406 35,163 — 28,305 971,874 Plan assets 908,406 12,803 — 26,786 947,995 Reimbursement rights — 22,360 — 1,519 23,879 As at September 30, 2019 908,406 35,163 — 28,305 971,874 1 Amounts recognized in other comprehensive income. |
Disclosure of fair value of plan assets | The plan assets at the end of the years consist of: As at September 30, 2020 U.K. Germany France Other Total $ $ $ $ $ Quoted equities 472,318 — — — 472,318 Quoted bonds 93,003 — — — 93,003 Cash 52,230 — — 88 52,318 Other 1 359,586 12,766 692 33,741 406,785 977,137 12,766 692 33,829 1,024,424 As at September 30, 2019 U.K. Germany France Other Total $ $ $ $ $ Quoted equities 366,203 — — — 366,203 Quoted bonds 200,599 — — — 200,599 Cash 111,454 — — 91 111,545 Other 1 230,150 12,803 — 26,695 269,648 908,406 12,803 — 26,786 947,995 1 Other is mainly composed of various insurance policies and quoted investment funds to cover some of the defined benefit obligations. |
Disclosure of defined benefit plan expense | The following table summarizes the expense 1 recognized in the consolidated statements of earnings: Year ended September 30 2020 2019 $ $ Current service cost 14,475 12,376 Past service cost — 8,239 Net interest on net defined benefit obligations or assets 629 1,965 Administration expenses 1,247 1,848 16,351 24,428 1 The expense was presented as costs of services, selling and administrative for an amount of $14,475,000 and as net finance costs for an amount of $1,876,000 (Note 26) ( $20,615,000 and $3,813,000 , respectively for the year ended September 30, 2019 ). |
Disclosure of information regarding defined benefit plans | The following are the principal actuarial assumptions (expressed as weighted averages). The assumed discount rates, future salary and pension increases, inflation rates and mortality all have a significant effect on the accounting valuation. As at September 30, 2020 U.K Germany France Other % % % % Discount rate 1.53 0.65 0.65 3.11 Future salary increases 2.84 2.50 3.79 1.51 Future pension increases 2.82 1.50 — 2.51 Inflation rate 2.84 2.00 2.00 0.08 As at September 30, 2019 U.K. Germany France Other % % % % Discount rate 1.82 0.56 0.56 3.05 Future salary increases 3.03 2.50 3.29 1.07 Future pension increases 3.00 1.50 — 0.06 Inflation rate 3.03 2.00 2.00 2.40 The average longevity over 65 of a member presently at age 45 and 65 are as follows: As at September 30, 2020 U.K. Germany (in years) Longevity at age 65 for current members Males 21.8 20.0 Females 23.7 23.0 Longevity at age 45 for current members Males 23.2 24.0 Females 25.3 26.0 As at September 30, 2019 U.K. Germany (in years) Longevity at age 65 for current members Males 21.8 20.0 Females 23.1 23.0 Longevity at age 45 for current members Males 23.6 24.0 Females 25.2 26.0 |
Disclosure of sensitivity analysis for actuarial assumptions | The following tables show the sensitivity of the defined benefit obligations to changes in the principal actuarial assumptions: As at September 30, 2020 U.K. Germany France $ $ $ Increase of 0.25% in the discount rate (36,622 ) (3,445 ) (2,936 ) Decrease of 0.25% in the discount rate 38,192 3,632 3,079 Salary increase of 0.25% 441 36 3,091 Salary decrease of 0.25% (437 ) (36 ) (2,962 ) Pension increase of 0.25% 18,528 1,598 — Pension decrease of 0.25% (18,132 ) (1,531 ) — Increase of 0.25% in inflation rate 29,148 1,598 3,091 Decrease of 0.25% in inflation rate (28,207 ) (1,531 ) (2,962 ) Increase of one year in life expectancy 27,126 3,615 558 Decrease of one year in life expectancy (26,843 ) (3,040 ) (592 ) As at September 30, 2019 U.K. Germany France $ $ $ Increase of 0.25% in the discount rate (33,082 ) (3,440 ) (2,027 ) Decrease of 0.25% in the discount rate 34,484 3,632 2,126 Salary increase of 0.25% 408 56 2,132 Salary decrease of 0.25% (404 ) (55 ) (2,044 ) Pension increase of 0.25% 16,758 1,601 — Pension decrease of 0.25% (16,398 ) (1,531 ) — Increase of 0.25% in inflation rate 26,342 1,601 2,132 Decrease of 0.25% in inflation rate (25,490 ) (1,531 ) (2,044 ) Increase of one year in life expectancy 20,884 3,325 384 Decrease of one year in life expectancy (20,824 ) (2,938 ) (406 ) |
Disclosure of information about maturity profile of defined benefit obligation | The weighted average duration of the defined benefit obligations are as follows: Year ended September 30 2020 2019 (in years) U.K. 18 18 Germany 14 14 France 14 14 Other 12 13 |
Accumulated other comprehensi_2
Accumulated other comprehensive income (Tables) | 12 Months Ended |
Sep. 30, 2020 | |
Analysis Of Other Comprehensive Income By Item [Abstract] | |
Schedule of accumulated other comprehensive income | As at As at $ $ Items that will be reclassified subsequently to net earnings: Net unrealized gains on translating financial statements of foreign operations, net of accumulated income tax expense of $56,239 ($63,579 as at September 30, 2019) 1,002,804 596,358 Net losses on cross-currency swaps and on translating long-term debt designated as hedges of net investments in foreign operations, net of accumulated income tax recovery of $63,692 ($67,165 as at September 30, 2019) (417,462 ) (426,376 ) Deferred gains (costs) of hedging on cross-currency swaps, net of accumulated income tax expense of $4,049 (net of accumulated income tax recovery $1,113 as at September 30, 2019) 14,053 (4,091 ) Net unrealized (losses) gains on cash flow hedges, net of accumulated income tax recovery of $2,554 (net of accumulated income tax expense of $13,003 as at September 30, 2019) (5,935 ) 24,157 Net unrealized gains on financial assets at fair value through other comprehensive income, net of accumulated income tax expense of $1,291 ($352 as at September 30, 2019) 4,340 1,486 Items that will not be reclassified subsequently to net earnings: Net remeasurement losses on defined benefit plans, net of accumulated income tax recovery of $18,920 ($8,698 as at September 30, 2019) (52,090 ) (14,840 ) 545,710 176,694 |
Capital stock (Tables)
Capital stock (Tables) | 12 Months Ended |
Sep. 30, 2020 | |
Share Capital , Reserves And Other Equity Interest [Abstract] | |
Schedule of outstanding shares | For the fiscal years 2020 and 2019 , the number of issued and outstanding Class A subordinate voting shares and Class B multiple voting shares varied as follows: Class A subordinate voting shares Class B multiple voting shares Total Number Carrying value Number Carrying value Number Carrying value $ $ $ As at September 30, 2018 250,425,114 1,978,210 28,945,706 40,382 279,370,820 2,018,592 Issued upon exercise of stock options 1 1,942,580 77,773 — — 1,942,580 77,773 PSUs exercised 2 — 7,651 — — — 7,651 Purchased and cancelled 3 (12,510,232 ) (169,299 ) — — (12,510,232 ) (169,299 ) Purchased and held in trusts 4 — (30,740 ) — — — (30,740 ) As at September 30, 2019 239,857,462 1,863,595 28,945,706 40,382 268,803,168 1,903,977 Issued upon exercise of stock options 1 1,438,877 69,420 — — 1,438,877 69,420 PSUs exercised 2 — 9,078 — — — 9,078 Purchased and cancelled 3 (10,605,464 ) (165,315 ) — — (10,605,464 ) (165,315 ) Purchased and held in trusts 4 — (55,287 ) — — — (55,287 ) As at September 30, 2020 230,690,875 1,721,491 28,945,706 40,382 259,636,581 1,761,873 1 The carrying value of Class A subordinate voting shares includes $12,269,000 ( $14,070,000 for the year ended September 30, 2019 ), which corresponds to a reduction in contributed surplus representing the value of accumulated compensation costs associated with the stock options exercised during the year. 2 During the year ended September 30, 2020 , 157,788 PSUs were exercised ( 160,694 during the year ended September 30, 2019 ) with a recorded value of $9,078,000 ( $7,651,000 during the year ended September 30, 2019 ) that was removed from contributed surplus. As at September 30, 2020 , 1,243,022 Class A subordinate voting shares were held in trusts under the PSU plans ( 875,480 as at September 30, 2019 ). 3 On January 29, 2020 , the Company’s Board of Directors authorized and subsequently received the regulatory approval from the Toronto Stock Exchange (TSX), for the renewal of the Normal Course Issuer Bid (NCIB) for the purchase for cancellation of up to 20,149,100 Class A subordinate voting shares on the open market through the TSX, the New York Stock Exchange (NYSE) and/or alternative trading systems or otherwise pursuant to exemption orders issued by securities regulators. The Class A subordinate voting shares are available for purchase for cancellation commencing on February 6, 2020 until no later than February 5, 2021, or on such earlier date when the Company has either acquired the maximum number of Class A subordinate voting shares allowable under the NCIB or decided not to make any further purchases for cancellation under it. During the year ended September 30, 2020 , the Company purchased for cancellation 6,008,905 Class A subordinate voting shares from the Caisse de dépôt et placement du Québec for a cash consideration of $600,000,000 ( 5,158,362 and $500,000,000 , respectively during the year ended September 30, 2019 ). The excess of the purchase price over the carrying value in the amount of $471,455,000 was charged to retained earnings ( $389,651,000 during the year ended September 30, 2019 ). The purchase was made pursuant to an exemption order issued by the Autorité des marchés financiers and is considered within the annual aggregate limit that the Company is entitled to purchase under its current NCIB. In addition, during the year ended September 30, 2020 , the Company purchased for cancellation 4,596,559 Class A subordinate voting shares ( 7,301,870 during the year ended September 30, 2019 ) under its previous and current NCIB for a cash consideration of $443,517,000 ( $626,075,000 during the year ended September 30, 2019 ) and the excess of the purchase price over the carrying value in the amount of $406,747,000 ( $567,125,000 during the year ended September 30, 2019 ) was charged to retained earnings. 4 During the year ended September 30, 2020 , the trustees, in accordance with the terms of the PSU plans and Trust Agreements, purchased 525,331 Class A subordinate voting shares of the Company on the open market ( 374,995 during the year ended September 30, 2019 ) for a cash consideration of $55,287,000 ( $30,740,000 during the year ended September 30, 2019 ). |
Share-based payments (Tables)
Share-based payments (Tables) | 12 Months Ended |
Sep. 30, 2020 | |
Share-Based Payment Arrangements [Abstract] | |
Disclosure of Information Concerning Outstanding Stock Options | The following table presents information concerning the outstanding stock options granted by the Company: 2020 2019 Number of options Weighted average exercise price per share Number of options Weighted average exercise price per share $ $ Outstanding, beginning of year 9,891,592 54.64 12,830,826 52.01 Granted 913,560 110.65 52,735 82.59 Exercised (Note 19) (1,438,877 ) 39.72 (1,942,580 ) 32.81 Forfeited (431,223 ) 84.50 (1,045,783 ) 64.11 Expired (955 ) 74.55 (3,606 ) 34.79 Outstanding, end of year 8,934,097 61.33 9,891,592 54.64 Exercisable, end of year 5,748,402 49.02 5,460,470 41.32 |
Disclosure of Range of Exercise Prices of Outstanding Stock Options | The following table summarizes information about the outstanding stock options granted by the Company as at September 30, 2020 : Options outstanding Options exercisable Range of Number of options Weighted Weighted Number of options Weighted average exercise price $ (in years) $ $ 14.48 to 38.79 1,945,743 2.70 29.83 1,945,743 29.83 39.47 to 50.94 1,356,156 4.68 45.21 1,356,156 45.21 52.63 to 63.72 3,235,718 6.43 63.00 2,019,298 62.87 67.04 to 87.65 1,523,387 7.92 84.05 426,416 82.94 102.79 to 110.73 873,093 9.17 110.70 789 102.79 8,934,097 5.87 61.33 5,748,402 49.02 |
Disclosure of Number of Options and Weighted Average Remaining Contractual Life | The following table summarizes information about the outstanding stock options granted by the Company as at September 30, 2020 : Options outstanding Options exercisable Range of Number of options Weighted Weighted Number of options Weighted average exercise price $ (in years) $ $ 14.48 to 38.79 1,945,743 2.70 29.83 1,945,743 29.83 39.47 to 50.94 1,356,156 4.68 45.21 1,356,156 45.21 52.63 to 63.72 3,235,718 6.43 63.00 2,019,298 62.87 67.04 to 87.65 1,523,387 7.92 84.05 426,416 82.94 102.79 to 110.73 873,093 9.17 110.70 789 102.79 8,934,097 5.87 61.33 5,748,402 49.02 |
Disclosure of Weighted Average Assumptions Used in the Calculation of Fair Value of Stock Options | The weighted average fair value of stock options granted in the year and the weighted average assumptions used in the calculation of their fair value on the date of grant using the Black-Scholes option pricing model were as follows: Year ended September 30 2020 2019 Grant date fair value ($) 17.71 16.24 Dividend yield (%) 0.00 0.00 Expected volatility (%) 1 16.60 19.79 Risk-free interest rate (%) 1.55 2.26 Expected life (years) 4.00 4.00 Exercise price ($) 110.65 82.59 Share price ($) 110.65 82.59 1 Expected volatility was determined using statistical formulas and based on the weekly historical average of closing daily share prices over the period of the expected life of stock options. |
Disclosure of Information Concerning PSUs | The following table presents information concerning the number of outstanding PSUs granted by the Company: Outstanding as at September 30, 2018 658,732 Granted 1 472,187 Exercised (Note 19) (160,694 ) Forfeited (108,740 ) Outstanding as at September 30, 2019 861,485 Granted 1 607,342 Exercised (Note 19) (157,788 ) Forfeited (79,569 ) Outstanding as at September 30, 2020 1,231,470 1 The PSUs granted in 2020 had a grant date fair value of $107.39 per unit ( $83.24 in 2019 ). |
Disclosure of Share-Based Payment Expense | The share-based payment expense recorded in costs of services, selling and administrative is as follows: Year ended September 30 2020 2019 $ $ Stock options 16,378 21,674 PSUs 20,979 17,766 Share purchase plan 127,983 115,287 DSUs (607 ) 3,334 164,733 158,061 |
Earnings per share (Tables)
Earnings per share (Tables) | 12 Months Ended |
Sep. 30, 2020 | |
Earnings per share [abstract] | |
Computation of basic and diluted earnings per share | The following table sets forth the computation of basic and diluted earnings per share for the years ended September 30: 2020 2019 Net earnings Weighted average number of shares outstanding 1 Earnings per share Net earnings Weighted average number of shares outstanding 1 Earnings per share $ $ $ $ Basic 1,117,862 262,005,521 4.27 1,263,207 272,719,309 4.63 Net effect of dilutive stock options and PSUs 2 4,098,541 5,066,415 1,117,862 266,104,062 4.20 1,263,207 277,785,724 4.55 1 During the year ended September 30, 2020 , 10,605,464 Class A subordinate voting shares purchased for cancellation and 1,243,022 Class A subordinate voting shares held in trust were excluded from the calculation of weighted average number of shares outstanding as of the date of transaction ( 12,460,232 and 875,480 , respectively during the year ended September 30, 2019 ). 2 The calculation of the diluted earnings per share excluded 876,213 stock options for the year ended September 30, 2020 ( 1,716,774 for the year ended September 30, 2019 ), as they were anti-dilutive. |
Cost of services, selling and_2
Cost of services, selling and administrative (Tables) | 12 Months Ended |
Sep. 30, 2020 | |
Analysis of income and expense [abstract] | |
Disclosure of Cost of Services, Selling and Administrative | Year ended September 30 2020 2019 $ $ Salaries and other member costs 1 7,264,839 7,158,588 Professional fees and other contracted labour 1,355,065 1,439,915 Hardware, software and data center related costs 800,496 873,158 Property costs 259,306 363,812 Amortization, depreciation and impairment (Note 24) 556,061 388,087 Other operating expenses 66,301 60,447 10,302,068 10,284,007 1 Net of R&D and other tax credits of $160,335,000 in 2020 ( $171,389,000 in 2019 ). |
Amortization, depreciation an_2
Amortization, depreciation and impairment (Tables) | 12 Months Ended |
Sep. 30, 2020 | |
Analysis of income and expense [abstract] | |
Disclosure of Amortization, Depreciation and Impairment | Year ended September 30 2020 2019 $ $ Depreciation of PP&E (Note 6) 156,590 159,264 Depreciation of right-of-use assets (Note 7) 168,239 — Impairment of right-of-use assets (Note 7) 3,269 — Amortization of contract costs related to transition costs 55,905 64,263 Impairment of contract costs related to transition costs 4,047 — Amortization of intangible assets (Note 9) 157,378 164,560 Impairment of intangible assets (Note 9) 10,633 — Included in costs of services, selling and administrative (Note 23) 556,061 388,087 Amortization of contract costs related to incentives (presented as a reduction of revenue) 2,535 2,919 Amortization of deferred financing fees (presented in finance costs) 890 1,012 Amortization of premiums and discounts on investments related to funds held for clients (presented net as a reduction of revenue) 79 283 Impairment of PP&E (presented in restructuring costs) (Note 6 and 25) 1,035 — Impairment of right-of-use assets (presented in restructuring costs) (Note 7 and 25) 5,092 — 565,692 392,301 |
Net finance costs (Tables)
Net finance costs (Tables) | 12 Months Ended |
Sep. 30, 2020 | |
Analysis of income and expense [abstract] | |
Disclosure of finance costs | Year ended September 30 2020 2019 $ $ Interest on long-term debt 75,667 63,312 Interest on lease liabilities (Note 3) 33,017 — Net interest costs on net defined benefit obligations or assets (Note 17) 1,876 3,813 Other finance costs 9,029 15,071 Finance costs 119,589 82,196 Finance income (5,115 ) (11,566 ) 114,474 70,630 |
Investments in subsidiaries (Ta
Investments in subsidiaries (Tables) | 12 Months Ended |
Sep. 30, 2020 | |
Business Combinations 1 [Abstract] | |
Disclosure of detailed information about business combinations | The following table presents the fair value of assets acquired and liabilities assumed for all the above acquisitions based on the acquisition-date fair values of the identifiable tangible and intangible assets acquired and liabilities assumed. During the year ended September 30, 2019 , the Company finalized the fair value of assets acquired and liabilities assumed for ckc. The fair value of assets acquired and liabilities assumed for Acando and Sunflower were preliminary. Acando Other Total $ $ $ Current assets 105,298 14,674 119,972 PP&E ( Note 6) 6,404 1,271 7,675 Intangible assets (Note 9) 102,889 9,855 112,744 Goodwill 1 555,921 31,916 587,837 Current liabilities (120,746 ) (12,735 ) (133,481 ) Deferred tax liabilities (25,966 ) (1,324 ) (27,290 ) Retirement benefits obligations (Note 17) (6,550 ) (1,444 ) (7,994 ) Long-term debt (9,828 ) — (9,828 ) 607,422 42,213 649,635 Cash acquired 16,348 (2,481 ) 13,867 Net assets acquired 623,770 39,732 663,502 Consideration paid 599,744 37,738 637,482 Consideration payable 24,026 1,994 26,020 1 The goodwill arising from the acquisitions mainly represents the future economic value associated to acquired work force and synergies with the Company’s operations. As at September 30, 2019 , $465,209,000 of the goodwill is included in the Scandinavia operating segment, $90,943,000 in the Central and Eastern Europe operating segment, $17,730,000 in the Finland, Poland and Baltics operating segment and $13,955,000 in the U.S. Federal operating segment. The goodwill is only deductible for tax purposes for Sunflower. The following table presents the fair value of assets acquired and liabilities assumed for all acquisitions based on the acquisition-date fair values of the identifiable tangible and intangible assets acquired and liabilities assumed: SCISYS TeraThink Other Total $ $ $ $ Current assets 28,461 14,227 12,995 55,683 PP&E (Note 6) 16,893 1,369 638 18,900 Right-of-use assets (Note 7) 3,362 4,228 4,269 11,859 Intangible assets (Note 9) 16,837 19,025 10,661 46,523 Goodwill 1 (Note 12) 144,712 86,642 37,683 269,037 Current liabilities (68,254 ) (13,910 ) (14,414 ) (96,578 ) Deferred tax liabilities (3,030 ) — (1,507 ) (4,537 ) Retirement benefits obligations (Note 17) — — (1,068 ) (1,068 ) Long-term debt (10,880 ) (9,732 ) (122 ) (20,734 ) Lease liabilities (4,336 ) (4,935 ) (4,321 ) (13,592 ) 123,765 96,914 44,814 265,493 Cash acquired 6,495 2,474 7,035 16,004 Net assets acquired 130,260 99,388 51,849 281,497 Consideration paid 130,260 99,388 51,849 281,497 1 The goodwill arising from the acquisitions mainly represents the future economic value associated to acquired work force and synergies with the Company’s operations. As at September 30, 2020 , $32,272,000 of the goodwill is included in the Western and Southern Europe operating segment, $5,411,000 in the Canada operating segment, $86,642,000 in the U.S. Federal operating segment, $53,170,000 in the U.K and Australia operating segment and $91,542,000 in the Central and Eastern Europe operating segment. The goodwill is only deductible for tax purposes for TeraThink |
Supplementary cash flow infor_2
Supplementary cash flow information (Tables) | 12 Months Ended |
Sep. 30, 2020 | |
Cash Flow Statement [Abstract] | |
Disclosure of net change in non-cash working capital | Net change in non-cash working capital items is as follows for the years ended September 30: 2020 2019 $ $ Accounts receivable 225,441 205,549 Work in progress 79,809 (161,031 ) Prepaid expenses and other assets 21,342 (22,238 ) Long-term financial assets (12,081 ) (3,547 ) Accounts payable and accrued liabilities (106,828 ) (54,822 ) Accrued compensation (17,472 ) 13,112 Deferred revenue (48,264 ) (22,659 ) Provisions 76,671 737 Long-term liabilities 59,822 19,353 Retirement benefits obligations (4,022 ) (2,814 ) Derivative financial instruments 373 (271 ) Income taxes (56,627 ) (27,620 ) 218,164 (56,251 ) |
Disclosure of non-cash operating and investing activities | Non-cash operating and investing activities related to operations are as follows for the years ended September 30: 2020 2019 $ $ Operating activities Accounts payable and accrued liabilities 4,788 14,573 Provisions 690 2,512 5,478 17,085 Investing activities Purchase of PP&E (4,698 ) (14,913 ) Additions, disposals/retirements and change in estimates and lease modifications of right-of-use assets (102,584 ) — Additions to intangible assets (780 ) (14,267 ) (108,062 ) (29,180 ) |
Disclosure of financing activities | Changes arising from financing activities are as follows for the years ended September 30: 2020 2019 Long-term debt Derivative financial instruments to hedge long-term debt Lease liabilities Long-term debt Derivative financial instruments to hedge long-term debt $ $ $ $ $ Balance, beginning of year 2,331,207 (29,894 ) — 1,800,893 43,217 Adoption of IFRS 16 (Note 3) (30,339 ) — 911,525 — — Balance as at October 1, 2019 2,300,868 (29,894 ) 911,525 1,800,893 43,217 Cash used in financing activities excluding equity Net change in unsecured committed revolving credit facility (334,370 ) — — 139,575 — Increase of long-term debt 1,807,167 — — 686,810 — Repayment of long-term debt and lease liabilities (106,496 ) — (175,320 ) (355,406 ) — Repayment of debt assumed in business acquisitions (28,281 ) — — (2,141 ) — Settlement of derivative financial instruments (Note 32) — (3,903 ) — — (554 ) Non-cash financing activities Additions, disposals/retirements and change in estimates and lease modifications of right-of-use assets (New obligations under finance leases for 2019) — — 102,584 12,095 — Additions through business acquisitions (Note 27) 19,333 — 13,592 9,828 — Changes in foreign currency exchange rates (77,126 ) 66,031 31,766 25,304 (72,557 ) Other 6,000 — (7,777 ) 14,249 — Balance, end of year 3,587,095 32,234 876,370 2,331,207 (29,894 ) |
Disclosure of interest and income taxes paid | Interest paid and received and income taxes paid are classified within operating activities and are as follows for the years ended September 30: 2020 2019 $ $ Interest paid 180,453 102,108 Interest received 5,116 3,080 Income taxes paid 390,867 386,953 |
Segmented information (Tables)
Segmented information (Tables) | 12 Months Ended |
Sep. 30, 2020 | |
Operating segments [Abstract] | |
Disclosure of Operating Segment Information | The following tables present information on the Company's operations based on its revised management structure. Segment results are based on the location from which the services are delivered - the geographic delivery model. The Company has retrospectively revised the segmented information for the comparative period to conform to the new segmented information structure (Note 12). Year ended September 30, 2020 Western and Southern Europe U.S. Commercial and State Government Canada U.S. Federal U.K. and Australia Central and Eastern Europe Scandinavia Finland, Poland and Baltics Asia Pacific Eliminations Total $ $ $ $ $ $ $ $ $ $ $ Segment revenue 1,911,477 1,863,467 1,686,269 1,712,244 1,358,469 1,212,196 1,104,121 777,152 674,946 (136,226 ) 12,164,115 Segment earnings before acquisition-related and integration costs, restructuring costs, net finance costs and income tax expense 1 264,009 295,795 364,424 221,793 215,924 122,548 57,231 120,959 200,263 — 1,862,946 Acquisition-related and integration costs (Note 27) (76,794 ) Restructuring costs (Note 25) (155,411 ) Net finance costs (Note 26) (114,474 ) Earnings before income taxes 1,516,267 1 Total amortization and depreciation of $558,675,000 included in the Western and Southern Europe, U.S. Commercial and State Government, Canada, U.S. Federal, U.K. and Australia, Central and Eastern Europe, Scandinavia, Finland, Poland and Baltics and Asia Pacific segments is $64,084,000 , $89,150,000 , $69,921,000 , $47,443,000 , $68,346,000 , $84,592,000 , $71,590,000 , $39,055,000 and $24,494,000 , respectively for the year ended September 30, 2020 . Amortization includes impairments of $14,680,000 from business solutions and contract costs which are mainly included in U.S. Commercial and State Government for $3,396,000 of business solutions, Canada for $3,589,000 of business solutions and Finland, Poland and Baltics for $4,065,000 of contract costs and a business solution. These assets were no longer expected to generate future economic benefits. Year ended September 30, 2019 Western and Southern Europe U.S. Commercial and State Government Canada U.S. Federal U.K. and Australia Central and Eastern Europe Scandinavia Finland, Poland and Baltics Asia Pacific Eliminations Total $ $ $ $ $ $ $ $ $ $ $ Segment revenue 2,022,677 1,834,917 1,768,924 1,597,922 1,356,858 1,166,486 1,095,330 787,640 606,252 (125,770 ) 12,111,236 Segment earnings before acquisition-related and integration costs, net finance costs and income tax expense 1 275,535 333,210 359,089 230,054 185,290 100,244 76,648 118,771 146,154 — 1,824,995 Acquisition-related and integration costs (Note 27) (77,417 ) Net finance costs (Note 26) (70,630 ) Earnings before income taxes 1,676,948 1 Total amortization and depreciation of $391,289,000 included in the Western and Southern Europe, U.S. Commercial and State Government, Canada, U.S. Federal, U.K. and Australia, Central and Eastern Europe, Scandinavia, Finland, Poland and Baltics and Asia Pacific segments is $42,558,000 , $73,647,000 , $62,486,000 , $27,433,000 , $67,110,000 , $37,314,000 , $26,534,000 , $38,968,000 and $15,239,000 , respectively for the year ended September 30, 2019 |
Disclosure of Geographic Information | The following table provides external revenue information based on the client’s location which is different from the revenue presented under operating segments, due to the intersegment revenue, for the years ended September 30: 2020 2019 $ $ Western and Southern Europe France 1,672,355 1,761,861 Others 239,053 264,252 1,911,408 2,026,113 U.S. 1 3,637,070 3,474,418 Canada 1,820,265 1,881,364 U.K. and Australia U.K. 1,508,719 1,480,627 Australia 63,708 75,268 1,572,427 1,555,895 Central and Eastern Europe Germany 718,166 655,713 Netherlands 465,340 463,633 Others 68,537 74,271 1,252,043 1,193,617 Scandinavia Sweden 835,682 854,565 Others 322,711 297,101 1,158,393 1,151,666 Finland, Poland and Baltics Finland 766,732 785,285 Others 37,269 37,179 804,001 822,464 Asia Pacific Others 8,508 5,699 8,508 5,699 12,164,115 12,111,236 1 External revenue included in the U.S Commercial and State Government and U.S. Federal operating segments was $1,902,661,000 and $1,734,409,000 , respectively in 2020 ( $1,853,154,000 and $1,621,264,000 , respectively in 2019 ). 29. Segmented information (continued) GEOGRAPHIC INFORMATION (CONTINUED) The following table provides information for PP&E, right-of-use assets (only as at September 30, 2020), contract costs and intangible assets based on their location: As at As at $ $ U.S. 487,698 367,415 Canada 412,469 292,291 U.K. 138,391 103,803 France 137,307 45,501 Sweden 162,506 125,987 Finland 93,948 46,828 Germany 107,809 47,800 Netherlands 64,551 22,187 Rest of the world 195,970 86,796 1,800,649 1,138,608 |
Disclosure of Revenue Information Based on Services Provided by the Company | The following table provides revenue information based on services provided by the Company for the year ended September 30: 2020 2019 $ $ Systems integration and consulting 5,554,622 5,998,486 Management of IT and business functions 6,609,493 6,112,750 12,164,115 12,111,236 |
Related party transactions (Tab
Related party transactions (Tables) | 12 Months Ended |
Sep. 30, 2020 | |
Related Party [Abstract] | |
Disclosure of transactions with subsidiaries | The Company’s principal subsidiaries whose revenues, based on the geographic delivery model, represent more than 3% of the consolidated revenues are as follows: Name of subsidiary Country of incorporation CGI Technologies and Solutions Inc. United States CGI France SAS France CGI Federal Inc. United States CGI IT UK Limited United Kingdom CGI Information Systems and Management Consultants Inc. Canada Conseillers en gestion et informatique CGI Inc. Canada CGI Sverige AB Sweden CGI Deutschland B.V. & Co KG Germany CGI Suomi Oy Finland CGI Information Systems and Management Consultants Private Limited India CGI Nederland BV Netherlands |
Disclosure of compensation of key management personnel | Compensation of key management personnel, currently defined as the executive officers and the Board of Directors of the Company, was as follows for the year ended September 30: 2020 2019 $ $ Short-term employee benefits 14,462 22,185 Share-based payments 22,122 23,991 |
Commitments, contingencies an_2
Commitments, contingencies and guarantees (Tables) | 12 Months Ended |
Sep. 30, 2020 | |
Other Provisions, Contingent Liabilities And Contingent Assets [Abstract] | |
Disclosure of Minimum Payments Under Long-Term Service and Other Agreements | Minimum payments under these agreements are due as follows: $ Less than one year 124,776 Between one and three years 110,790 Between three and five years 215 |
Financial instruments (Tables)
Financial instruments (Tables) | 12 Months Ended |
Sep. 30, 2020 | |
Financial Instruments [Abstract] | |
Disclosure of financial liabilities | The following table presents the financial liabilities included in the long-term debt (Note 14) measured at amortized cost categorized using the fair value hierarchy. As at September 30, 2020 As at September 30, 2019 Level Carrying amount Fair value Carrying amount Fair value $ $ $ $ Senior U.S. and euro unsecured notes Level 2 1,211,965 1,297,632 1,256,554 1,330,809 Obligations under finance leases Level 2 — — 30,339 29,792 Other long-term debt Level 2 44,842 43,536 48,005 46,743 1,256,807 1,341,168 1,334,898 1,407,344 |
Disclosure of fair value measurement of financial assets | The following table presents financial assets and liabilities measured at fair value categorized using the fair value hierarchy: Level As at September 30, 2020 As at September 30, 2019 $ $ Financial assets FVTE Cash and cash equivalents Level 2 1,707,985 213,831 Deferred compensation plan assets (Note 11) Level 1 73,156 62,627 1,781,141 276,458 Derivative financial instruments designated as hedging instruments Current derivative financial instruments included in current financial assets Level 2 Cross-currency swaps — 4,243 Foreign currency forward contracts 17,027 25,799 Long-term derivative financial instruments (Note 11) Level 2 Cross-currency swaps 25,362 45,193 Foreign currency forward contracts 8,636 25,069 Interest rate swaps 6,180 1,380 57,205 101,684 FVOCI Short-term investments included in current financial assets Level 2 1,473 9,889 Long-term bonds included in funds held for clients (Note 5) Level 2 148,470 180,289 Long-term investments (Note 11) Level 2 22,612 24,596 172,555 214,774 Financial liabilities Derivative financial instruments designated as hedging instruments Current derivative financial instruments Level 2 Cross-currency swaps 5,320 2,982 Foreign currency forward contracts 3,008 1,920 Long-term derivative financial instruments Level 2 Cross-currency swaps 52,275 16,560 Foreign currency forward contracts 4,347 1,762 64,950 23,224 |
Disclosure of fair value measurement of financial liabilities | The following table presents financial assets and liabilities measured at fair value categorized using the fair value hierarchy: Level As at September 30, 2020 As at September 30, 2019 $ $ Financial assets FVTE Cash and cash equivalents Level 2 1,707,985 213,831 Deferred compensation plan assets (Note 11) Level 1 73,156 62,627 1,781,141 276,458 Derivative financial instruments designated as hedging instruments Current derivative financial instruments included in current financial assets Level 2 Cross-currency swaps — 4,243 Foreign currency forward contracts 17,027 25,799 Long-term derivative financial instruments (Note 11) Level 2 Cross-currency swaps 25,362 45,193 Foreign currency forward contracts 8,636 25,069 Interest rate swaps 6,180 1,380 57,205 101,684 FVOCI Short-term investments included in current financial assets Level 2 1,473 9,889 Long-term bonds included in funds held for clients (Note 5) Level 2 148,470 180,289 Long-term investments (Note 11) Level 2 22,612 24,596 172,555 214,774 Financial liabilities Derivative financial instruments designated as hedging instruments Current derivative financial instruments Level 2 Cross-currency swaps 5,320 2,982 Foreign currency forward contracts 3,008 1,920 Long-term derivative financial instruments Level 2 Cross-currency swaps 52,275 16,560 Foreign currency forward contracts 4,347 1,762 64,950 23,224 |
Disclosure of financial instruments by type of interest rate | The following table summarizes the fair value of theses swaps: As at As at Interest rate swaps Notional amount Receive Rate Pay Rate Maturity Fair value Fair value $ $ Fair value hedges of Senior U.S. unsecured note U.S.$250,000 4.99 % LIBOR 1 month + 3.26% December 2021 6,180 1,380 |
Disclosure of detailed information about hedging instruments | The following tables summarize the cross-currency swap agreements that the Company had entered into in order to manage its currency: As at As at Receive Notional Receive Rate Pay Notional Pay rate Maturity Fair value Fair value $ $ Hedges of net investments in European operations $374,200 From 3.40% to 3.81% €240,800 From 2.10% to 2.51% From September 2021 to 2024 189 19,305 $136,274 From 3.57% to 3.63% £75,842 From 2.67% to 2.80% September 2024 8,977 12,511 $58,419 From 3.57% to 3.68% Skr371,900 From 2.12% to 2.18% September 2024 5,359 7,995 Hedges of net investments in European operations and cash flow hedges on unsecured committed term loan credit facility U.S.$500,000 LIBOR 1 month + 1.00% €443,381 From 1.13% to 1.17% December 2023 (45,599 ) (3,627 ) Cash flow hedges of Senior U.S. unsecured notes U.S.$420,000 From 3.74% to 4.06% $568,893 From 3.40% to 3.81% From September 2021 to 2024 (1,159 ) (6,290 ) Total (32,233 ) 29,894 |
Disclosure of sensitivity analysis for currency risk | As at September 30, 2020 , the Company held foreign currency forward contracts to hedge exposures to changes in foreign currency, which have the following notional, average contract rates and maturities: Average contract rates As at As at Foreign currency forward contracts Notional Less than one year More than one year Fair value Fair value $ $ USD/INR U.S.$146,778 75.30 80.89 2,473 1,498 CAD/INR $288,942 57.94 61.59 6,196 11,687 EUR/INR €107,190 91.92 95.77 4,731 14,985 GBP/INR £86,833 100.26 105.18 4,522 11,929 SEK/INR Skr248,637 8.61 8.79 477 3,945 EUR/GBP €39,291 0.90 0.90 (1,210 ) (311 ) EUR/MAD €47,010 11.60 11.46 2,534 4,416 EUR/CZK €27,456 26.09 26.69 (1,039 ) 243 EUR/SEK €30,773 10.45 10.70 120 (1,828 ) Others $74,054 (496 ) 622 Total 18,308 47,186 The following table details the Company's sensitivity to a 10% strengthening of the Swedish krona, the U.S. dollar, the euro and the British pound foreign currency rates on net earnings and comprehensive income. The sensitivity analysis on net earnings presents the impact of foreign currency denominated financial instruments and adjusts their translation at period end for a 10% strengthening in foreign currency rates. The sensitivity analysis on other comprehensive income presents the impact of a 10% strengthening in foreign currency rates on the fair value of foreign currency forward contracts designated as cash flow hedges and on net investment hedges. 2020 2019 Swedish krona impact U.S. dollar impact euro impact British pound impact Swedish krona impact U.S. dollar impact euro impact British pound impact $ $ $ $ $ $ $ $ Increase in net earnings 317 1,215 190 931 875 2,333 167 2,166 Decrease in other comprehensive income (loss) (11,047 ) (233,182 ) (116,136 ) (29,080 ) (7,724 ) (65,034 ) (109,838 ) (24,736 ) |
Disclosure of maturity analysis for non-derivative financial liabilities | The following tables summarize the carrying amount and the contractual maturities of both the interest and principal portion of financial liabilities. All amounts contractually denominated in foreign currency are presented in Canadian dollar equivalent amounts using the period-end spot rate or floating rate. As at September 30, 2020 Carrying amount Contractual cash flows Less than one year Between one and three years Between three and five years Beyond $ $ $ $ $ $ Non-derivative financial liabilities Accounts payable and accrued liabilities 1,025,963 1,025,963 1,025,963 — — — Accrued compensation 672,775 672,775 672,775 — — — Senior U.S. and euro unsecured notes 1,211,965 1,325,791 321,089 519,605 485,097 — Unsecured committed term loan credit facilities 2,330,288 2,400,927 35,869 1,696,940 668,118 — Lease liabilities 876,370 1,002,493 207,617 325,964 229,871 239,041 Other long-term debt 44,842 45,221 38,240 5,387 1,587 7 Clients’ funds obligations 720,322 720,322 720,322 — — — Derivative financial liabilities Cash flow hedges of future revenue 6,694 Outflow 290,661 108,478 163,183 19,000 — (Inflow) (299,279 ) (107,621 ) (169,846 ) (21,812 ) — Cross-currency swaps 57,595 Outflow 1,272,197 315,839 168,458 787,900 — (Inflow) (1,232,774 ) (311,715 ) (163,025 ) (758,034 ) — Non deliverable forwards 661 Outflow 661 661 — — — 6,947,475 7,224,958 3,027,517 2,546,666 1,411,727 239,048 As at September 30, 2019 Carrying amount Contractual cash flows Less than one year Between one and three years Between three and five years Beyond $ $ $ $ $ $ Non-derivative financial liabilities Accounts payable and accrued liabilities 1,108,895 1,108,895 1,108,895 — — — Accrued compensation 642,897 642,897 642,897 — — — Senior U.S. and euro unsecured notes 1,256,554 1,425,138 116,613 738,987 569,538 — Unsecured committed revolving credit facility 334,370 378,298 10,493 20,986 346,819 — Unsecured committed term loan credit facility 661,939 747,921 19,677 40,804 687,440 — Obligations other than finance leases 14,295 14,609 10,938 3,558 113 — Obligations under finance leases 30,339 31,245 14,534 16,172 539 — Other long-term debt 33,710 34,181 22,719 8,885 1,986 591 Clients’ funds obligations 366,796 366,796 366,796 — — — Derivative financial liabilities Cash flow hedges of future revenue 3,682 Outflow 224,440 97,993 126,447 — — (Inflow) (228,672 ) (97,250 ) (131,422 ) — — Cross-currency swaps 19,542 Outflow 1,160,635 91,857 250,763 818,015 — (Inflow) (1,218,430 ) (101,823 ) (267,794 ) (848,813 ) — 4,473,019 4,687,953 2,304,339 807,386 1,575,637 591 |
Disclosure of maturity analysis for derivative financial liabilities | The following tables summarize the carrying amount and the contractual maturities of both the interest and principal portion of financial liabilities. All amounts contractually denominated in foreign currency are presented in Canadian dollar equivalent amounts using the period-end spot rate or floating rate. As at September 30, 2020 Carrying amount Contractual cash flows Less than one year Between one and three years Between three and five years Beyond $ $ $ $ $ $ Non-derivative financial liabilities Accounts payable and accrued liabilities 1,025,963 1,025,963 1,025,963 — — — Accrued compensation 672,775 672,775 672,775 — — — Senior U.S. and euro unsecured notes 1,211,965 1,325,791 321,089 519,605 485,097 — Unsecured committed term loan credit facilities 2,330,288 2,400,927 35,869 1,696,940 668,118 — Lease liabilities 876,370 1,002,493 207,617 325,964 229,871 239,041 Other long-term debt 44,842 45,221 38,240 5,387 1,587 7 Clients’ funds obligations 720,322 720,322 720,322 — — — Derivative financial liabilities Cash flow hedges of future revenue 6,694 Outflow 290,661 108,478 163,183 19,000 — (Inflow) (299,279 ) (107,621 ) (169,846 ) (21,812 ) — Cross-currency swaps 57,595 Outflow 1,272,197 315,839 168,458 787,900 — (Inflow) (1,232,774 ) (311,715 ) (163,025 ) (758,034 ) — Non deliverable forwards 661 Outflow 661 661 — — — 6,947,475 7,224,958 3,027,517 2,546,666 1,411,727 239,048 As at September 30, 2019 Carrying amount Contractual cash flows Less than one year Between one and three years Between three and five years Beyond $ $ $ $ $ $ Non-derivative financial liabilities Accounts payable and accrued liabilities 1,108,895 1,108,895 1,108,895 — — — Accrued compensation 642,897 642,897 642,897 — — — Senior U.S. and euro unsecured notes 1,256,554 1,425,138 116,613 738,987 569,538 — Unsecured committed revolving credit facility 334,370 378,298 10,493 20,986 346,819 — Unsecured committed term loan credit facility 661,939 747,921 19,677 40,804 687,440 — Obligations other than finance leases 14,295 14,609 10,938 3,558 113 — Obligations under finance leases 30,339 31,245 14,534 16,172 539 — Other long-term debt 33,710 34,181 22,719 8,885 1,986 591 Clients’ funds obligations 366,796 366,796 366,796 — — — Derivative financial liabilities Cash flow hedges of future revenue 3,682 Outflow 224,440 97,993 126,447 — — (Inflow) (228,672 ) (97,250 ) (131,422 ) — — Cross-currency swaps 19,542 Outflow 1,160,635 91,857 250,763 818,015 — (Inflow) (1,218,430 ) (101,823 ) (267,794 ) (848,813 ) — 4,473,019 4,687,953 2,304,339 807,386 1,575,637 591 |
Disclosure of analysis of age of financial assets that are past due | The following table sets forth details of the age of trade accounts receivable that are past due: 2020 2019 $ $ Not past due 775,975 793,387 Past due 1-30 days 44,278 96,106 Past due 31-60 days 29,948 23,125 Past due 61-90 days 6,407 17,392 Past due more than 90 days 53,546 54,192 910,154 984,202 Allowance for doubtful accounts (5,267 ) (4,474 ) 904,887 979,728 |
Summary of significant accoun_4
Summary of significant accounting policies - Disclosure of estimated useful lives of property, plant and equipment (Details) | 12 Months Ended |
Sep. 30, 2020 | |
Minimum | Buildings | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Estimated useful life | 10 years |
Minimum | Furniture, fixtures and equipment | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Estimated useful life | 3 years |
Minimum | Computer equipment | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Estimated useful life | 3 years |
Maximum | Buildings | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Estimated useful life | 40 years |
Maximum | Furniture, fixtures and equipment | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Estimated useful life | 20 years |
Maximum | Computer equipment | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Estimated useful life | 5 years |
Summary of significant accoun_5
Summary of significant accounting policies - Disclosure of estimated useful lives of intangible assets (Details) | 12 Months Ended |
Sep. 30, 2020 | |
Minimum | Internal-use software | |
Disclosure of detailed information about intangible assets [line items] | |
Estimated useful life | 2 years |
Minimum | Business solutions | |
Disclosure of detailed information about intangible assets [line items] | |
Estimated useful life | 2 years |
Minimum | Software licenses | |
Disclosure of detailed information about intangible assets [line items] | |
Estimated useful life | 3 years |
Minimum | Client relationships | |
Disclosure of detailed information about intangible assets [line items] | |
Estimated useful life | 2 years |
Maximum | Internal-use software | |
Disclosure of detailed information about intangible assets [line items] | |
Estimated useful life | 7 years |
Maximum | Business solutions | |
Disclosure of detailed information about intangible assets [line items] | |
Estimated useful life | 10 years |
Maximum | Software licenses | |
Disclosure of detailed information about intangible assets [line items] | |
Estimated useful life | 8 years |
Maximum | Client relationships | |
Disclosure of detailed information about intangible assets [line items] | |
Estimated useful life | 10 years |
Summary of significant accoun_6
Summary of significant accounting policies - Disclosure of lease adoption (Details) - CAD ($) $ in Thousands | Sep. 30, 2020 | Oct. 01, 2019 | Sep. 30, 2019 | Sep. 30, 2018 |
Assets | ||||
Accounts receivable | $ 1,219,302 | $ 1,360,409 | $ 1,357,090 | |
Prepaid expenses and other current assets | 160,406 | 165,817 | 172,182 | |
Property, plant and equipment | 372,946 | 375,798 | 397,661 | |
Right-of-use assets | 666,865 | 701,346 | 0 | |
Other long-term assets | 163,739 | 181,087 | 180,480 | |
Deferred tax assets | 113,484 | 115,317 | 100,539 | |
Other assets | 10,413,794 | 10,413,794 | ||
Total assets | 15,550,358 | 13,313,568 | 12,621,746 | |
Liabilities | ||||
Accounts payable and accrued liabilities | 1,025,963 | 1,100,858 | 1,108,895 | |
Provisions | 175,632 | 69,786 | 73,509 | |
Current portion of long-term debt | 310,764 | 99,425 | 113,511 | |
Current portion of lease liabilities | 178,720 | 172,402 | 0 | |
Long-term provisions | 23,888 | 22,682 | 24,946 | |
Long-term debt | 3,276,331 | 2,201,443 | 2,217,696 | |
Long-term lease liabilities | 697,650 | 739,123 | 0 | |
Other long-term liabilities | 185,374 | 148,737 | 213,392 | |
Deferred tax liabilities | 158,341 | 161,453 | 178,265 | |
Other liabilities | 1,807,429 | 1,807,429 | ||
Total liabilities | 8,286,198 | 6,523,338 | 5,737,643 | |
Equity | ||||
Retained earnings | 4,703,642 | 4,463,982 | 4,557,855 | |
Other Equity | 2,326,248 | 2,326,248 | ||
Total equity | 7,264,160 | 6,790,230 | 6,884,103 | $ 6,684,807 |
Total equity and liabilities | $ 15,550,358 | 13,313,568 | $ 12,621,746 | |
IFRS 16 adoption | ||||
Assets | ||||
Accounts receivable | 3,319 | |||
Prepaid expenses and other current assets | (6,365) | |||
Property, plant and equipment | (21,863) | |||
Right-of-use assets | 701,346 | |||
Other long-term assets | 607 | |||
Deferred tax assets | 14,778 | |||
Other assets | 0 | |||
Total assets | 691,822 | |||
Liabilities | ||||
Accounts payable and accrued liabilities | (8,037) | |||
Provisions | (3,723) | |||
Current portion of long-term debt | (14,086) | |||
Current portion of lease liabilities | 172,402 | |||
Long-term provisions | (2,264) | |||
Long-term debt | (16,253) | |||
Long-term lease liabilities | 739,123 | |||
Other long-term liabilities | (64,655) | |||
Deferred tax liabilities | (16,812) | |||
Other liabilities | 0 | |||
Total liabilities | 785,695 | |||
Equity | ||||
Retained earnings | (93,873) | |||
Other Equity | 0 | |||
Total equity | (93,873) | |||
Total equity and liabilities | $ 691,822 |
Summary of significant accoun_7
Summary of significant accounting policies - Narrative (Details) | Oct. 01, 2019CAD ($) | Sep. 30, 2020CAD ($) | Sep. 30, 2019CAD ($) | Sep. 30, 2020USD ($) | Sep. 30, 2020CAD ($) |
Disclosure of initial application of standards or interpretations [line items] | |||||
Weighted average lessee's incremental borrowing rate applied to lease liabilities recognised at date of initial application of IFRS 16 | 3.69% | ||||
Increase in cash provided by operating activities | $ 1,938,556,000 | $ 1,633,919,000 | |||
Borrowings | $ 2,331,207,000 | $ 3,587,095,000 | |||
IFRS 16 adoption | |||||
Disclosure of initial application of standards or interpretations [line items] | |||||
Decrease in property costs | $ 195,848,000 | ||||
Increase in amortization and depreciation | 157,974,000 | ||||
Increase for finance costs | 31,957,000 | ||||
Increase in cash provided by operating activities | $ 165,348,000 | ||||
Hedges of net investments in European operations and cash flow hedges on unsecured committed term loan credit facility | Currency risk | Cross-Currency Swap Agreement Between USD To Euro | |||||
Disclosure of initial application of standards or interpretations [line items] | |||||
Receive Notional | $ 500,000,000 | ||||
Unsecured committed term loan credit facilities, expiring 2023 | |||||
Disclosure of initial application of standards or interpretations [line items] | |||||
Notional amount | 500,000,000 | ||||
Borrowings | 666,250,000 | ||||
Unsecured committed term loan credit facility, 2020 term loan | |||||
Disclosure of initial application of standards or interpretations [line items] | |||||
Notional amount | 1,250,000,000 | ||||
Borrowings | $ 1,665,625,000 | ||||
Borrowings maturity term | 2 years |
Summary of significant accoun_8
Summary of significant accounting policies - Reconciliation of operating lease liabilities under IAS 17 and lease liabilities recognized at date of initial application of IFRS 16 (Details) - CAD ($) $ in Thousands | Sep. 30, 2020 | Oct. 01, 2019 | Sep. 30, 2019 |
Corporate Information And Statement Of IFRS Compliance [Abstract] | |||
Operating lease commitments as at September 30, 2019 | $ 847,502 | ||
Discounted using the weighted average incremental borrowing rate as at October 1, 2019 | (96,638) | ||
Finance lease obligations presented as at September 30, 2019 | 30,339 | ||
Termination options reasonably certain to be exercised | (22,748) | ||
Extension options reasonably certain to be exercised | 153,070 | ||
Lease liabilities recognized as at October 1, 2019 | $ 911,525 | ||
Current portion of lease liabilities | $ 178,720 | 172,402 | 0 |
Long-term lease liabilities | $ 697,650 | $ 739,123 | $ 0 |
Accounts receivable (Details)
Accounts receivable (Details) - CAD ($) $ in Thousands | Sep. 30, 2020 | Oct. 01, 2019 | Sep. 30, 2019 |
Subclassifications of assets, liabilities and equities [abstract] | |||
Trade (Note 32) | $ 904,887 | $ 979,728 | |
R&D and other tax credits | 180,953 | 259,289 | |
Other | 133,462 | 118,073 | |
Total accounts receivable | $ 1,219,302 | $ 1,360,409 | $ 1,357,090 |
Funds held for clients - (Detai
Funds held for clients - (Details) - CAD ($) $ in Thousands | Sep. 30, 2020 | Sep. 30, 2019 |
Disclosure Of Funds Held For Clients [Line Items] | ||
Funds held for clients | $ 725,178 | $ 368,112 |
Cash and cash equivalents | ||
Disclosure Of Funds Held For Clients [Line Items] | ||
Funds held for clients | 576,708 | 187,823 |
Long-term bonds | ||
Disclosure Of Funds Held For Clients [Line Items] | ||
Funds held for clients | $ 148,470 | $ 180,289 |
Property, plant and equipment -
Property, plant and equipment - Schedule of property, plant and equipment (Details) - CAD ($) $ in Thousands | 12 Months Ended | |
Sep. 30, 2020 | Sep. 30, 2019 | |
Reconciliation of changes in property, plant and equipment [abstract] | ||
Beginning Balance | $ 397,661 | |
Impairment (Note 24) | 1,035 | $ 0 |
Ending Balance | 372,946 | 397,661 |
Cost | ||
Reconciliation of changes in property, plant and equipment [abstract] | ||
Beginning Balance | 1,178,440 | 1,114,476 |
Additions | 125,229 | 165,989 |
Additions - business acquisitions (Note 27a) | 18,900 | 7,675 |
Disposals/retirements | (155,055) | (97,002) |
Foreign currency translation adjustment | (35,354) | 12,698 |
Ending Balance | 1,147,933 | 1,178,440 |
Accumulated depreciation | ||
Reconciliation of changes in property, plant and equipment [abstract] | ||
Beginning Balance | (780,779) | (726,383) |
Disposals/retirements | 153,862 | 96,158 |
Foreign currency translation adjustment | 23,517 | (8,710) |
Depreciation expense (Note 24) | 156,590 | 159,264 |
Impairment (Note 24) | 1,035 | |
Ending Balance | (774,987) | (780,779) |
Land and buildings | ||
Reconciliation of changes in property, plant and equipment [abstract] | ||
Beginning Balance | 41,653 | |
Ending Balance | 59,157 | 41,653 |
Land and buildings | Cost | ||
Reconciliation of changes in property, plant and equipment [abstract] | ||
Beginning Balance | 58,614 | 58,455 |
Additions | 5,759 | 619 |
Additions - business acquisitions (Note 27a) | 12,730 | 0 |
Disposals/retirements | 0 | 0 |
Foreign currency translation adjustment | (2,178) | 460 |
Ending Balance | 79,281 | 58,614 |
Land and buildings | Accumulated depreciation | ||
Reconciliation of changes in property, plant and equipment [abstract] | ||
Beginning Balance | (16,961) | (14,652) |
Disposals/retirements | 0 | 0 |
Foreign currency translation adjustment | 1,268 | (292) |
Depreciation expense (Note 24) | 1,895 | 2,601 |
Impairment (Note 24) | 0 | |
Ending Balance | (20,124) | (16,961) |
Leasehold improvements | ||
Reconciliation of changes in property, plant and equipment [abstract] | ||
Beginning Balance | 84,833 | |
Ending Balance | 90,970 | 84,833 |
Leasehold improvements | Cost | ||
Reconciliation of changes in property, plant and equipment [abstract] | ||
Beginning Balance | 224,559 | 204,888 |
Additions | 28,188 | 40,915 |
Additions - business acquisitions (Note 27a) | 1,013 | 5,320 |
Disposals/retirements | (17,160) | (25,565) |
Foreign currency translation adjustment | (4,942) | 999 |
Ending Balance | 241,542 | 224,559 |
Leasehold improvements | Accumulated depreciation | ||
Reconciliation of changes in property, plant and equipment [abstract] | ||
Beginning Balance | (139,726) | (144,275) |
Disposals/retirements | 17,160 | 25,099 |
Foreign currency translation adjustment | 3,041 | (471) |
Depreciation expense (Note 24) | 24,965 | 21,021 |
Impairment (Note 24) | 0 | |
Ending Balance | (150,572) | (139,726) |
Furniture, fixtures and equipment | ||
Reconciliation of changes in property, plant and equipment [abstract] | ||
Beginning Balance | 61,966 | |
Ending Balance | 57,159 | 61,966 |
Furniture, fixtures and equipment | Cost | ||
Reconciliation of changes in property, plant and equipment [abstract] | ||
Beginning Balance | 180,638 | 164,634 |
Additions | 12,225 | 19,568 |
Additions - business acquisitions (Note 27a) | 2,683 | 981 |
Disposals/retirements | (19,405) | (4,146) |
Foreign currency translation adjustment | (3,656) | 399 |
Ending Balance | 165,219 | 180,638 |
Furniture, fixtures and equipment | Accumulated depreciation | ||
Reconciliation of changes in property, plant and equipment [abstract] | ||
Beginning Balance | (118,672) | (106,223) |
Disposals/retirements | 19,021 | 3,836 |
Foreign currency translation adjustment | 2,454 | (143) |
Depreciation expense (Note 24) | 14,240 | 16,428 |
Impairment (Note 24) | 0 | |
Ending Balance | (108,060) | (118,672) |
Computer equipment | ||
Reconciliation of changes in property, plant and equipment [abstract] | ||
Beginning Balance | 209,209 | |
Ending Balance | 165,660 | 209,209 |
Computer equipment | Cost | ||
Reconciliation of changes in property, plant and equipment [abstract] | ||
Beginning Balance | 714,629 | 686,499 |
Additions | 79,057 | 104,887 |
Additions - business acquisitions (Note 27a) | 2,474 | 1,374 |
Disposals/retirements | (118,490) | (67,291) |
Foreign currency translation adjustment | (24,578) | 10,840 |
Ending Balance | 661,891 | 714,629 |
Computer equipment | Accumulated depreciation | ||
Reconciliation of changes in property, plant and equipment [abstract] | ||
Beginning Balance | (505,420) | (461,233) |
Disposals/retirements | 117,681 | 67,223 |
Foreign currency translation adjustment | 16,754 | (7,804) |
Depreciation expense (Note 24) | 115,490 | 119,214 |
Impairment (Note 24) | 1,035 | |
Ending Balance | $ (496,231) | $ (505,420) |
Right of use assets (Details)
Right of use assets (Details) $ in Thousands | 12 Months Ended |
Sep. 30, 2020CAD ($) | |
Disclosure of quantitative information about right-of-use assets [line items] | |
Beginning balance | $ 0 |
Ending balance | 666,865 |
Properties | |
Disclosure of quantitative information about right-of-use assets [line items] | |
Ending balance | 474,387 |
Motor vehicles and others | |
Disclosure of quantitative information about right-of-use assets [line items] | |
Ending balance | 181,119 |
Computer equipment | |
Disclosure of quantitative information about right-of-use assets [line items] | |
Ending balance | 11,359 |
Cost | |
Disclosure of quantitative information about right-of-use assets [line items] | |
Beginning balance | 0 |
Additions | 118,922 |
Additions - business acquisitions (Note 27a) | 11,859 |
Change in estimates and lease modifications | (6,460) |
Disposals/retirements | (122,037) |
Foreign currency translation adjustment | (54,864) |
Ending balance | 1,399,199 |
Cost | Properties | |
Disclosure of quantitative information about right-of-use assets [line items] | |
Beginning balance | 0 |
Additions | 59,556 |
Additions - business acquisitions (Note 27a) | 11,859 |
Change in estimates and lease modifications | (6,460) |
Disposals/retirements | (56,986) |
Foreign currency translation adjustment | (45,302) |
Ending balance | 1,124,258 |
Cost | Motor vehicles and others | |
Disclosure of quantitative information about right-of-use assets [line items] | |
Beginning balance | 0 |
Additions | 56,976 |
Additions - business acquisitions (Note 27a) | 0 |
Change in estimates and lease modifications | 0 |
Disposals/retirements | (61,941) |
Foreign currency translation adjustment | (8,234) |
Ending balance | 233,976 |
Cost | Computer equipment | |
Disclosure of quantitative information about right-of-use assets [line items] | |
Beginning balance | 0 |
Additions | 2,390 |
Additions - business acquisitions (Note 27a) | 0 |
Change in estimates and lease modifications | 0 |
Disposals/retirements | (3,110) |
Foreign currency translation adjustment | (1,328) |
Ending balance | 40,965 |
Accumulated depreciation | |
Disclosure of quantitative information about right-of-use assets [line items] | |
Beginning balance | 0 |
Disposals/retirements | 112,563 |
Foreign currency translation adjustment | 27,592 |
Depreciation expense (Note 24) | 168,239 |
Impairment of right-of-use assets (Note 7) | 8,361 |
Ending balance | (732,334) |
Accumulated depreciation | Properties | |
Disclosure of quantitative information about right-of-use assets [line items] | |
Beginning balance | 0 |
Disposals/retirements | 56,986 |
Foreign currency translation adjustment | 24,028 |
Depreciation expense (Note 24) | 127,931 |
Impairment of right-of-use assets (Note 7) | 8,361 |
Ending balance | (649,871) |
Accumulated depreciation | Motor vehicles and others | |
Disclosure of quantitative information about right-of-use assets [line items] | |
Beginning balance | 0 |
Disposals/retirements | 52,467 |
Foreign currency translation adjustment | 2,803 |
Depreciation expense (Note 24) | 33,140 |
Impairment of right-of-use assets (Note 7) | 0 |
Ending balance | (52,857) |
Accumulated depreciation | Computer equipment | |
Disclosure of quantitative information about right-of-use assets [line items] | |
Beginning balance | 0 |
Disposals/retirements | 3,110 |
Foreign currency translation adjustment | 761 |
Depreciation expense (Note 24) | 7,168 |
Impairment of right-of-use assets (Note 7) | 0 |
Ending balance | $ (29,606) |
Contract costs (Details)
Contract costs (Details) - CAD ($) $ in Thousands | Sep. 30, 2020 | Sep. 30, 2019 |
Disclosure Of Contract Costs [Line Items] | ||
Transition costs | $ 230,706 | $ 217,792 |
Incentives | 8,670 | 5,173 |
Contract assets | 239,376 | 222,965 |
Cost | ||
Disclosure Of Contract Costs [Line Items] | ||
Transition costs | 477,174 | 476,075 |
Incentives | 67,545 | 61,258 |
Contract assets | 544,719 | 537,333 |
Accumulated amortization | ||
Disclosure Of Contract Costs [Line Items] | ||
Transition costs | 246,468 | 258,283 |
Incentives | 58,875 | 56,085 |
Contract assets | $ 305,343 | $ 314,368 |
Intangible assets (Details)
Intangible assets (Details) - CAD ($) $ in Thousands | 12 Months Ended | |
Sep. 30, 2020 | Sep. 30, 2019 | |
Reconciliation of changes in intangible assets other than goodwill [abstract] | ||
Beginning balance | $ (517,982) | |
Ending balance | (521,462) | $ (517,982) |
Cost | ||
Reconciliation of changes in intangible assets other than goodwill [abstract] | ||
Beginning balance | (2,131,754) | (1,978,830) |
Additions | 110,657 | 96,554 |
Additions - business acquisitions (Note 27a) | 47,810 | 114,064 |
Disposals/retirements | (100,058) | (39,213) |
Foreign currency translation adjustment | (63,562) | 18,481 |
Ending balance | (2,253,725) | (2,131,754) |
Accumulated amortization | ||
Reconciliation of changes in intangible assets other than goodwill [abstract] | ||
Beginning balance | 1,613,772 | 1,499,504 |
Amortization expense (Note 24) | 157,378 | 164,560 |
Impairment (Note 24) | 10,633 | |
Disposals/retirements | 97,393 | 39,179 |
Foreign currency translation adjustment | 47,873 | (11,113) |
Ending balance | 1,732,263 | 1,613,772 |
Internal-use software | Acquired | ||
Reconciliation of changes in intangible assets other than goodwill [abstract] | ||
Beginning balance | (18,737) | |
Ending balance | (12,469) | (18,737) |
Internal-use software | Acquired | Cost | ||
Reconciliation of changes in intangible assets other than goodwill [abstract] | ||
Beginning balance | (99,204) | (95,707) |
Additions | 929 | 4,321 |
Additions - business acquisitions (Note 27a) | 0 | 77 |
Disposals/retirements | (4,652) | (436) |
Foreign currency translation adjustment | (1,419) | 465 |
Ending balance | (96,900) | (99,204) |
Internal-use software | Acquired | Accumulated amortization | ||
Reconciliation of changes in intangible assets other than goodwill [abstract] | ||
Beginning balance | 80,467 | 72,177 |
Amortization expense (Note 24) | 7,336 | 8,872 |
Impairment (Note 24) | 0 | |
Disposals/retirements | 4,652 | 436 |
Foreign currency translation adjustment | 1,280 | (146) |
Ending balance | 84,431 | 80,467 |
Internal-use software | Internally developed | ||
Reconciliation of changes in intangible assets other than goodwill [abstract] | ||
Beginning balance | (54,194) | |
Ending balance | (51,553) | (54,194) |
Internal-use software | Internally developed | Cost | ||
Reconciliation of changes in intangible assets other than goodwill [abstract] | ||
Beginning balance | (123,289) | (114,701) |
Additions | 9,861 | 9,433 |
Additions - business acquisitions (Note 27a) | 0 | 0 |
Disposals/retirements | (2,826) | (326) |
Foreign currency translation adjustment | (974) | 519 |
Ending balance | (131,298) | (123,289) |
Internal-use software | Internally developed | Accumulated amortization | ||
Reconciliation of changes in intangible assets other than goodwill [abstract] | ||
Beginning balance | 69,095 | 58,212 |
Amortization expense (Note 24) | 12,986 | 11,513 |
Impairment (Note 24) | 0 | |
Disposals/retirements | 2,826 | 326 |
Foreign currency translation adjustment | 490 | (304) |
Ending balance | 79,745 | 69,095 |
Business solutions | Acquired | ||
Reconciliation of changes in intangible assets other than goodwill [abstract] | ||
Beginning balance | (1,121) | |
Ending balance | (1,108) | (1,121) |
Business solutions | Acquired | Cost | ||
Reconciliation of changes in intangible assets other than goodwill [abstract] | ||
Beginning balance | (81,028) | (82,256) |
Additions | 229 | 911 |
Additions - business acquisitions (Note 27a) | 0 | 0 |
Disposals/retirements | (7,506) | (803) |
Foreign currency translation adjustment | (2,527) | 1,336 |
Ending balance | (76,278) | (81,028) |
Business solutions | Acquired | Accumulated amortization | ||
Reconciliation of changes in intangible assets other than goodwill [abstract] | ||
Beginning balance | 79,907 | 80,586 |
Amortization expense (Note 24) | 316 | 1,319 |
Impairment (Note 24) | 0 | |
Disposals/retirements | 7,506 | 803 |
Foreign currency translation adjustment | 2,453 | (1,195) |
Ending balance | 75,170 | 79,907 |
Business solutions | Internally developed | ||
Reconciliation of changes in intangible assets other than goodwill [abstract] | ||
Beginning balance | (193,538) | |
Ending balance | (232,893) | (193,538) |
Business solutions | Internally developed | Cost | ||
Reconciliation of changes in intangible assets other than goodwill [abstract] | ||
Beginning balance | (511,384) | (444,593) |
Additions | 88,900 | 61,693 |
Additions - business acquisitions (Note 27a) | 0 | 0 |
Disposals/retirements | (34,810) | (46) |
Foreign currency translation adjustment | (5,541) | (5,144) |
Ending balance | (571,015) | (511,384) |
Business solutions | Internally developed | Accumulated amortization | ||
Reconciliation of changes in intangible assets other than goodwill [abstract] | ||
Beginning balance | 317,846 | 277,092 |
Amortization expense (Note 24) | 41,928 | 37,318 |
Impairment (Note 24) | 10,633 | |
Disposals/retirements | 34,810 | 46 |
Foreign currency translation adjustment | 2,525 | 3,482 |
Ending balance | 338,122 | 317,846 |
Software licenses | ||
Reconciliation of changes in intangible assets other than goodwill [abstract] | ||
Beginning balance | (61,919) | |
Ending balance | (47,916) | (61,919) |
Software licenses | Cost | ||
Reconciliation of changes in intangible assets other than goodwill [abstract] | ||
Beginning balance | (221,510) | (216,490) |
Additions | 10,738 | 20,196 |
Additions - business acquisitions (Note 27a) | 507 | 201 |
Disposals/retirements | (47,888) | (13,281) |
Foreign currency translation adjustment | (5,505) | 2,096 |
Ending balance | (190,372) | (221,510) |
Software licenses | Accumulated amortization | ||
Reconciliation of changes in intangible assets other than goodwill [abstract] | ||
Beginning balance | 159,591 | 145,078 |
Amortization expense (Note 24) | 26,411 | 29,356 |
Impairment (Note 24) | 0 | |
Disposals/retirements | 47,146 | 13,247 |
Foreign currency translation adjustment | 3,600 | (1,596) |
Ending balance | 142,456 | 159,591 |
Client relationships | ||
Reconciliation of changes in intangible assets other than goodwill [abstract] | ||
Beginning balance | (188,473) | |
Ending balance | (175,523) | (188,473) |
Client relationships | Cost | ||
Reconciliation of changes in intangible assets other than goodwill [abstract] | ||
Beginning balance | (1,095,339) | (1,025,083) |
Additions | 0 | 0 |
Additions - business acquisitions (Note 27a) | 47,303 | 113,786 |
Disposals/retirements | (2,376) | (24,321) |
Foreign currency translation adjustment | (47,596) | 19,209 |
Ending balance | (1,187,862) | (1,095,339) |
Client relationships | Accumulated amortization | ||
Reconciliation of changes in intangible assets other than goodwill [abstract] | ||
Beginning balance | 906,866 | 866,359 |
Amortization expense (Note 24) | 68,401 | 76,182 |
Impairment (Note 24) | 0 | |
Disposals/retirements | 453 | 24,321 |
Foreign currency translation adjustment | 37,525 | (11,354) |
Ending balance | $ 1,012,339 | $ 906,866 |
Other long-term assets (Details
Other long-term assets (Details) - CAD ($) $ in Thousands | Sep. 30, 2020 | Oct. 01, 2019 | Sep. 30, 2019 |
Subclassifications of assets, liabilities and equities [abstract] | |||
Prepaid long-term maintenance agreements | $ 17,567 | $ 20,532 | |
Insurance contracts held to fund defined benefit pension and life assurance arrangements - reimbursement rights (Note 17) | 24,033 | 23,879 | |
Retirement benefits assets (Note 17) | 86,127 | 96,620 | |
Deposits | 13,312 | 13,999 | |
Deferred financing fees | 3,408 | 3,798 | |
Other | 19,292 | 21,652 | |
Other long-term assets | $ 163,739 | $ 181,087 | $ 180,480 |
Long-term financial assets (Det
Long-term financial assets (Details) - CAD ($) | Sep. 30, 2020 | Sep. 30, 2019 |
Subclassifications of assets, liabilities and equities [abstract] | ||
Deferred compensation plan assets (Notes 17 and 32) | $ 73,156,000 | $ 62,627,000 |
Long-term investments (Note 32) | 22,612,000 | 24,596,000 |
Long-term receivables | 20,623,000 | 18,034,000 |
Long-term derivative financial instruments (Note 32) | 40,178,000 | 71,642,000 |
Long-term financial assets | $ 156,569,000 | $ 176,899,000 |
Goodwill - Variations in goodwi
Goodwill - Variations in goodwill (Details) $ in Thousands | Oct. 01, 2019CAD ($)segment | Sep. 30, 2020CAD ($)segment |
Disclosure of reconciliation of changes in goodwill [line items] | ||
Number of new operating segments | segment | 2 | |
Number of operating segments | segment | 9 | |
Goodwill | ||
Reconciliation of changes in goodwill [abstract] | ||
Beginning balance | $ 7,767,837 | $ 7,767,837 |
Business acquisitions (Note 27) | 266,267 | |
Goodwill reallocation | 0 | |
Sale of business | 3,411 | |
Foreign currency translation adjustment | 349,238 | |
Ending balance | 8,379,931 | |
Western and Southern Europe | Goodwill | ||
Reconciliation of changes in goodwill [abstract] | ||
Beginning balance | 975,075 | 975,075 |
Business acquisitions (Note 27) | 32,272 | |
Goodwill reallocation | 0 | |
Sale of business | 0 | |
Foreign currency translation adjustment | 81,752 | |
Ending balance | 1,089,099 | |
U.S. Commercial and State Government | Goodwill | ||
Reconciliation of changes in goodwill [abstract] | ||
Beginning balance | 1,134,246 | 1,134,246 |
Business acquisitions (Note 27) | 0 | |
Goodwill reallocation | 6,324 | |
Sale of business | 0 | |
Foreign currency translation adjustment | 6,737 | |
Ending balance | 1,147,307 | |
Canada | Goodwill | ||
Reconciliation of changes in goodwill [abstract] | ||
Beginning balance | 1,136,737 | 1,136,737 |
Business acquisitions (Note 27) | 5,411 | |
Goodwill reallocation | 0 | |
Sale of business | 0 | |
Foreign currency translation adjustment | 0 | |
Ending balance | 1,142,148 | |
U.S. Federal | Goodwill | ||
Reconciliation of changes in goodwill [abstract] | ||
Beginning balance | 918,064 | 918,064 |
Business acquisitions (Note 27) | 86,882 | |
Goodwill reallocation | (6,324) | |
Sale of business | 0 | |
Foreign currency translation adjustment | 540 | |
Ending balance | 999,162 | |
U.K. and Australia | Goodwill | ||
Reconciliation of changes in goodwill [abstract] | ||
Beginning balance | 806,318 | 806,318 |
Business acquisitions (Note 27) | 53,021 | |
Goodwill reallocation | 0 | |
Sale of business | 0 | |
Foreign currency translation adjustment | 45,633 | |
Ending balance | 904,972 | |
Central and Eastern Europe | Goodwill | ||
Reconciliation of changes in goodwill [abstract] | ||
Beginning balance | 820,565 | 820,565 |
Business acquisitions (Note 27) | 95,285 | |
Goodwill reallocation | 0 | |
Sale of business | 0 | |
Foreign currency translation adjustment | 69,999 | |
Ending balance | 985,849 | |
Scandinavia | Goodwill | ||
Reconciliation of changes in goodwill [abstract] | ||
Beginning balance | 1,703,927 | 1,703,927 |
Business acquisitions (Note 27) | (6,604) | |
Goodwill reallocation | (613,472) | |
Sale of business | 3,411 | |
Foreign currency translation adjustment | 89,433 | |
Ending balance | 1,169,873 | |
Finland, Poland and Baltics | Goodwill | ||
Reconciliation of changes in goodwill [abstract] | ||
Beginning balance | 0 | 0 |
Business acquisitions (Note 27) | 0 | |
Goodwill reallocation | 613,472 | |
Sale of business | 0 | |
Foreign currency translation adjustment | 46,406 | |
Ending balance | 659,878 | |
Asia Pacific | Goodwill | ||
Reconciliation of changes in goodwill [abstract] | ||
Beginning balance | $ 272,905 | 272,905 |
Business acquisitions (Note 27) | 0 | |
Goodwill reallocation | 0 | |
Sale of business | 0 | |
Foreign currency translation adjustment | 8,738 | |
Ending balance | $ 281,643 |
Goodwill - Key assumptions for
Goodwill - Key assumptions for cash-generating units (Details) | Sep. 30, 2020 | Sep. 30, 2019 |
Western and Southern Europe | ||
Disclosure of information for cash-generating units [line items] | ||
Pre-tax WACC | 11.20% | 9.10% |
Long-term growth rate of net operating cash flows | 1.70% | 1.80% |
U.S. Commercial and State Government | ||
Disclosure of information for cash-generating units [line items] | ||
Pre-tax WACC | 9.30% | 10.00% |
Long-term growth rate of net operating cash flows | 2.00% | 2.00% |
Canada | ||
Disclosure of information for cash-generating units [line items] | ||
Pre-tax WACC | 9.60% | 8.90% |
Long-term growth rate of net operating cash flows | 2.00% | 2.00% |
U.S. Federal | ||
Disclosure of information for cash-generating units [line items] | ||
Pre-tax WACC | 8.50% | 9.90% |
Long-term growth rate of net operating cash flows | 2.00% | 2.00% |
U.K. and Australia | ||
Disclosure of information for cash-generating units [line items] | ||
Pre-tax WACC | 9.30% | 8.90% |
Long-term growth rate of net operating cash flows | 2.00% | 1.90% |
Central and Eastern Europe | ||
Disclosure of information for cash-generating units [line items] | ||
Pre-tax WACC | 10.20% | 9.10% |
Long-term growth rate of net operating cash flows | 1.90% | 1.50% |
Scandinavia | ||
Disclosure of information for cash-generating units [line items] | ||
Pre-tax WACC | 10.00% | |
Long-term growth rate of net operating cash flows | 1.90% | |
Finland, Poland and Baltics | ||
Disclosure of information for cash-generating units [line items] | ||
Pre-tax WACC | 10.80% | |
Long-term growth rate of net operating cash flows | 1.70% | |
Northern Europe | ||
Disclosure of information for cash-generating units [line items] | ||
Pre-tax WACC | 9.40% | |
Long-term growth rate of net operating cash flows | 1.80% | |
Asia Pacific | ||
Disclosure of information for cash-generating units [line items] | ||
Pre-tax WACC | 23.00% | 21.40% |
Long-term growth rate of net operating cash flows | 2.00% | 2.00% |
Provisions - Summary of Proviso
Provisions - Summary of Provisons (Details) - CAD ($) | 12 Months Ended | ||
Sep. 30, 2020 | Oct. 01, 2019 | Sep. 30, 2019 | |
Reconciliation of changes in other provisions [abstract] | |||
Beginning balance | $ 98,455,000 | ||
Additional provisions | 233,762,000 | ||
Business acquisitions | 25,174,000 | ||
Utilized amounts | (147,089,000) | ||
Reversals of unused amounts | (9,538,000) | ||
Discount rate adjustment and imputed interest | 158,000 | ||
Foreign currency translation adjustment | 4,585,000 | ||
Ending balance | 199,520,000 | ||
Current portion | 175,632,000 | $ 69,786,000 | $ 73,509,000 |
Non-current portion | 23,888,000 | 22,682,000 | $ 24,946,000 |
Restructuring provision | |||
Reconciliation of changes in other provisions [abstract] | |||
Beginning balance | 39,212,000 | ||
Additional provisions | 193,592,000 | ||
Business acquisitions | 0 | ||
Utilized amounts | (119,331,000) | ||
Reversals of unused amounts | 0 | ||
Discount rate adjustment and imputed interest | 0 | ||
Foreign currency translation adjustment | 1,799,000 | ||
Ending balance | 115,272,000 | ||
Current portion | 112,731,000 | ||
Non-current portion | 2,541,000 | ||
Decommissioning liabilities | |||
Reconciliation of changes in other provisions [abstract] | |||
Beginning balance | 25,824,000 | ||
Additional provisions | 5,328,000 | ||
Business acquisitions | 351,000 | ||
Utilized amounts | (3,667,000) | ||
Reversals of unused amounts | (3,006,000) | ||
Discount rate adjustment and imputed interest | 158,000 | ||
Foreign currency translation adjustment | 1,573,000 | ||
Ending balance | 26,561,000 | ||
Current portion | 8,609,000 | ||
Non-current portion | 17,952,000 | ||
Provisons based on expected cash flows | $ 27,390,000 | ||
Weighted average rate | 0.59% | ||
Others | |||
Reconciliation of changes in other provisions [abstract] | |||
Beginning balance | $ 33,419,000 | ||
Additional provisions | 34,842,000 | ||
Business acquisitions | 24,823,000 | ||
Utilized amounts | (24,091,000) | ||
Reversals of unused amounts | (6,532,000) | ||
Discount rate adjustment and imputed interest | 0 | ||
Foreign currency translation adjustment | 1,213,000 | ||
Ending balance | 57,687,000 | ||
Current portion | 54,292,000 | ||
Non-current portion | $ 3,395,000 | ||
IFRS 16 adoption | |||
Reconciliation of changes in other provisions [abstract] | |||
Current portion | (3,723,000) | ||
Non-current portion | $ (2,264,000) | ||
Minimum | Decommissioning liabilities | |||
Reconciliation of changes in other provisions [abstract] | |||
Timing of settlements | 1 year | ||
Maximum | Decommissioning liabilities | |||
Reconciliation of changes in other provisions [abstract] | |||
Timing of settlements | 13 years |
Long-term debt - Disclosure of
Long-term debt - Disclosure of long-term debt (Details) € in Thousands, $ in Thousands | Sep. 30, 2020CAD ($) | Sep. 30, 2020CAD ($)paymenttranche | Sep. 30, 2019CAD ($) | Sep. 30, 2020USD ($) | Sep. 30, 2020CAD ($) | Sep. 30, 2020EUR (€) | Oct. 01, 2019CAD ($) |
Disclosure of detailed information about borrowings [line items] | |||||||
Borrowings | $ 2,331,207,000 | $ 3,587,095,000 | |||||
Current portion | 113,511,000 | 310,764,000 | $ 99,425,000 | ||||
Long-term debt | 2,217,696,000 | 3,276,331,000 | $ 2,201,443,000 | ||||
Proceeds from borrowings | $ 1,807,167,000 | 686,810,000 | |||||
Senior U.S. unsecured notes | |||||||
Disclosure of detailed information about borrowings [line items] | |||||||
Borrowings | 332,533,000 | 339,682,000 | |||||
Proceeds from borrowings | $ 333,125,000 | ||||||
Number of tranches | tranche | 1 | ||||||
Senior unsecured notes | |||||||
Disclosure of detailed information about borrowings [line items] | |||||||
Borrowings | 924,021,000 | 872,283,000 | |||||
Proceeds from borrowings | 872,325,000 | ||||||
Number of tranches | tranche | 3 | ||||||
Unsecured committed revolving credit facility | |||||||
Disclosure of detailed information about borrowings [line items] | |||||||
Borrowings | 334,370,000 | 0 | |||||
Borrowing capacity of unsecured credit facility | 1,500,000,000 | ||||||
Unsecured committed term loan credit facilities | |||||||
Disclosure of detailed information about borrowings [line items] | |||||||
Borrowings | 661,939,000 | 2,330,288,000 | |||||
Proceeds from borrowings | 666,250,000 | ||||||
Notional amount | 500,000,000 | ||||||
Obligations under finance leases, blended monthly installments | |||||||
Disclosure of detailed information about borrowings [line items] | |||||||
Borrowings | 30,339,000 | 0 | |||||
Other long-term debt | |||||||
Disclosure of detailed information about borrowings [line items] | |||||||
Borrowings | $ 48,005,000 | 44,842,000 | |||||
Committed to cover various letters of credit issued for clients and other parties | |||||||
Disclosure of detailed information about borrowings [line items] | |||||||
Borrowings | 9,699,000 | ||||||
Unsecured committed term loan credit facility, 2020 term loan | |||||||
Disclosure of detailed information about borrowings [line items] | |||||||
Borrowings | 1,665,625,000 | ||||||
Proceeds from borrowings | $ 1,665,625,000 | ||||||
Borrowings maturity term | 2 years | ||||||
Notional amount | $ 1,250,000,000 | ||||||
Weighted average | Senior U.S. unsecured notes | |||||||
Disclosure of detailed information about borrowings [line items] | |||||||
Weighted average interest rate | 4.99% | 4.99% | 4.99% | 4.99% | |||
Weighted average | Senior unsecured notes | |||||||
Disclosure of detailed information about borrowings [line items] | |||||||
Weighted average interest rate | 3.66% | 3.64% | 3.64% | 3.64% | |||
Borrowings maturity term | 2 years 9 months 18 days | ||||||
Weighted average | Obligations under finance leases, blended monthly installments | |||||||
Disclosure of detailed information about borrowings [line items] | |||||||
Weighted average interest rate | 2.44% | 2.44% | 2.44% | ||||
Tranche three | Senior unsecured notes | |||||||
Disclosure of detailed information about borrowings [line items] | |||||||
Borrowings | $ 200,000 | $ 266,500,000 | |||||
Number of remaining yearly payments | payment | 4 | ||||||
Number of yearly payments | payment | 7 | ||||||
Repayments Of Borrowings, Tranche Four [Member] | Senior unsecured notes | |||||||
Disclosure of detailed information about borrowings [line items] | |||||||
Number of tranches | tranche | 1 | ||||||
Fair value hedges | Interest rate swaps | Senior U.S. unsecured notes | |||||||
Disclosure of detailed information about borrowings [line items] | |||||||
Fair value adjustments relating to interest rate swaps designated as fair value hedges | $ 6,470,000 | ||||||
Settled cross-currency swap agreements | |||||||
Disclosure of detailed information about borrowings [line items] | |||||||
Notional amount | $ 69,300,000 | ||||||
Settled cross-currency swap agreements | Tranche three | Senior unsecured notes | |||||||
Disclosure of detailed information about borrowings [line items] | |||||||
Borrowings | $ 65,860 | ||||||
LIBOR | Unsecured committed term loan credit facilities | |||||||
Disclosure of detailed information about borrowings [line items] | |||||||
Borrowing margin rate | 1.00% | 1.00% | 1.00% | ||||
LIBOR | Unsecured committed term loan credit facility, 2020 term loan | |||||||
Disclosure of detailed information about borrowings [line items] | |||||||
Borrowing margin rate | 1.50% | 1.50% | 1.50% | ||||
LIBOR | Weighted average | Unsecured committed term loan credit facilities | |||||||
Disclosure of detailed information about borrowings [line items] | |||||||
Weighted average interest rate | 0.16% | 0.16% | 0.16% | ||||
LIBOR | Weighted average | Unsecured committed term loan credit facility, 2020 term loan | |||||||
Disclosure of detailed information about borrowings [line items] | |||||||
Weighted average interest rate | 0.16% | 0.16% | 0.16% | ||||
Between one and two years | Senior U.S. unsecured notes | |||||||
Disclosure of detailed information about borrowings [line items] | |||||||
Borrowings | $ 250,000 | $ 333,125,000 | |||||
Between one and two years | Tranche three | Senior unsecured notes | |||||||
Disclosure of detailed information about borrowings [line items] | |||||||
Borrowings | 50,000 | ||||||
Less than one year | Repayments Of Borrowings, Tranche One | Senior unsecured notes | |||||||
Disclosure of detailed information about borrowings [line items] | |||||||
Borrowings | 55,000 | 73,288,000 | |||||
Less than one year | Tranche three | Senior unsecured notes | |||||||
Disclosure of detailed information about borrowings [line items] | |||||||
Borrowings | 50,000 | ||||||
Less than one year | Repayments Of Borrowings, Tranche Four [Member] | Senior unsecured notes | |||||||
Disclosure of detailed information about borrowings [line items] | |||||||
Borrowings | 132,787,000 | € 85,000 | |||||
Later than two years and not later than three years [member] | Tranche three | Senior unsecured notes | |||||||
Disclosure of detailed information about borrowings [line items] | |||||||
Borrowings | 50,000 | ||||||
Later than three years and not later than four years [member] | Tranche two | Senior unsecured notes | |||||||
Disclosure of detailed information about borrowings [line items] | |||||||
Borrowings | 300,000 | $ 399,750,000 | |||||
Later than three years and not later than four years [member] | Tranche three | Senior unsecured notes | |||||||
Disclosure of detailed information about borrowings [line items] | |||||||
Borrowings | $ 50,000 |
Other long-term liabilities (De
Other long-term liabilities (Details) - CAD ($) | Sep. 30, 2020 | Oct. 01, 2019 | Sep. 30, 2019 |
Subclassifications of assets, liabilities and equities [abstract] | |||
Deferred revenue | $ 38,466,000 | $ 70,522,000 | |
Deferred compensation plan liabilities (Note 17) | 82,221,000 | 63,838,000 | |
Deferred rent (Note 3) | 0 | 64,655,000 | |
Other | 64,687,000 | 14,377,000 | |
Other long-term liabilities | 185,374,000 | $ 148,737,000 | $ 213,392,000 |
Deferral of the employer side of social security payments under the CARES Act | $ 48,299,000 |
Income taxes - Disclosure of in
Income taxes - Disclosure of income tax expense (Details) - CAD ($) $ in Thousands | 12 Months Ended | |
Sep. 30, 2020 | Sep. 30, 2019 | |
Current income tax expense | ||
Current income tax expense in respect of the current year | $ 416,563 | $ 439,972 |
Adjustments recognized in the current year in relation to the income tax expense of prior years | (24,328) | (17,934) |
Total current income tax expense | 392,235 | 422,038 |
Deferred income tax expense (recovery) | ||
Deferred income tax recovery relating to the origination and reversal of temporary differences | (1,120) | (959) |
Deferred income tax (recovery) expense relating to changes in tax rates | (3,479) | 784 |
Adjustments recognized in the current year in relation to the deferred income tax recovery of prior years | 10,769 | 0 |
Recognition of previously unrecognized temporary differences | 0 | (8,122) |
Total deferred income tax expense (recovery) | 6,170 | (8,297) |
Total income tax expense | $ 398,405 | $ 413,741 |
Income taxes - Reconciliation o
Income taxes - Reconciliation of effective income tax rate from the combined federal and provincial canadian statutory tax rate (Details) | 12 Months Ended | |
Sep. 30, 2020 | Sep. 30, 2019 | |
Income Taxes [Abstract] | ||
Company's statutory tax rate | 26.50% | 26.60% |
Effect of foreign tax rate differences | (0.90%) | (1.60%) |
Final determination from agreements with tax authorities and expirations of statutes of limitations | (0.90%) | (1.40%) |
Non-deductible and tax exempt items | 0.20% | 0.20% |
Effect of integration-related costs | 0.70% | 0.10% |
Minimum income tax charge | 0.90% | 0.80% |
Changes in tax laws and rates | (0.20%) | 0.00% |
Effective income tax rate | 26.30% | 24.70% |
Income taxes - Disclosure of th
Income taxes - Disclosure of the continuity of deferred tax balances (Details) - CAD ($) $ in Thousands | 12 Months Ended | |
Sep. 30, 2020 | Sep. 30, 2019 | |
Reconciliation of changes in deferred tax liability (asset) [abstract] | ||
Beginning balance | $ (77,726) | $ (33,345) |
Additions from business acquisitions | (4,080) | (27,640) |
Recognized in earnings | (6,170) | 8,297 |
Recognized in other comprehensive income | 23,143 | (27,240) |
Recognized in equity | (16,933) | 6,132 |
Foreign currency translation adjustment and other | 5,319 | (3,930) |
Ending balance | (44,857) | (77,726) |
Accounts payable and accrued liabilities, provisions and other long-term liabilities | ||
Reconciliation of changes in deferred tax liability (asset) [abstract] | ||
Beginning balance | 67,926 | 78,177 |
Additions from business acquisitions | 47 | (3,220) |
Recognized in earnings | 12,819 | (8,394) |
Recognized in other comprehensive income | (7) | 0 |
Recognized in equity | 0 | 0 |
Foreign currency translation adjustment and other | 573 | 1,363 |
Ending balance | 64,208 | 67,926 |
Tax benefits on losses carried forward | ||
Reconciliation of changes in deferred tax liability (asset) [abstract] | ||
Beginning balance | 59,163 | 62,415 |
Additions from business acquisitions | 886 | 0 |
Recognized in earnings | (17,492) | (1,001) |
Recognized in other comprehensive income | 0 | 0 |
Recognized in equity | 0 | 0 |
Foreign currency translation adjustment and other | 3,671 | (2,251) |
Ending balance | 46,228 | 59,163 |
Accrued compensation | ||
Reconciliation of changes in deferred tax liability (asset) [abstract] | ||
Beginning balance | 45,407 | 34,887 |
Additions from business acquisitions | 0 | 18 |
Recognized in earnings | (2,464) | 3,995 |
Recognized in other comprehensive income | 0 | 0 |
Recognized in equity | (16,933) | 6,132 |
Foreign currency translation adjustment and other | 1,410 | 375 |
Ending balance | 27,420 | 45,407 |
Retirement benefits obligations | ||
Reconciliation of changes in deferred tax liability (asset) [abstract] | ||
Beginning balance | 17,904 | 25,418 |
Additions from business acquisitions | 60 | 0 |
Recognized in earnings | (4,959) | (2,683) |
Recognized in other comprehensive income | 8,282 | (4,324) |
Recognized in equity | 0 | 0 |
Foreign currency translation adjustment and other | 1,879 | (507) |
Ending balance | 23,166 | 17,904 |
Lease liabilities | ||
Reconciliation of changes in deferred tax liability (asset) [abstract] | ||
Beginning balance | 0 | |
Additions from business acquisitions | 3,751 | |
Recognized in earnings | (18,864) | |
Recognized in other comprehensive income | 0 | |
Recognized in equity | 0 | |
Foreign currency translation adjustment and other | 6,548 | |
Ending balance | 222,997 | 0 |
Allowance for doubtful accounts | ||
Reconciliation of changes in deferred tax liability (asset) [abstract] | ||
Beginning balance | 0 | (260) |
Additions from business acquisitions | 0 | |
Recognized in earnings | 260 | |
Recognized in other comprehensive income | 0 | |
Recognized in equity | 0 | |
Foreign currency translation adjustment and other | 0 | |
Ending balance | 0 | |
PP&E, contract costs, intangible assets and other long-term assets | ||
Reconciliation of changes in deferred tax liability (asset) [abstract] | ||
Beginning balance | (123,147) | (106,207) |
Additions from business acquisitions | (5,933) | (24,514) |
Recognized in earnings | (6,710) | 7,788 |
Recognized in other comprehensive income | 0 | 0 |
Recognized in equity | 0 | 0 |
Foreign currency translation adjustment and other | (670) | (214) |
Ending balance | (136,460) | (123,147) |
Right-of-use assets | ||
Reconciliation of changes in deferred tax liability (asset) [abstract] | ||
Beginning balance | 0 | |
Additions from business acquisitions | (3,658) | |
Recognized in earnings | 21,133 | |
Recognized in other comprehensive income | 0 | |
Recognized in equity | 0 | |
Foreign currency translation adjustment and other | (6,488) | |
Ending balance | (171,835) | 0 |
Work in progress | ||
Reconciliation of changes in deferred tax liability (asset) [abstract] | ||
Beginning balance | (43,569) | (59,142) |
Additions from business acquisitions | 170 | 0 |
Recognized in earnings | 9,532 | 16,010 |
Recognized in other comprehensive income | 0 | 0 |
Recognized in equity | 0 | 0 |
Foreign currency translation adjustment and other | (410) | (437) |
Ending balance | (34,277) | (43,569) |
Goodwill | ||
Reconciliation of changes in deferred tax liability (asset) [abstract] | ||
Beginning balance | (60,366) | (53,891) |
Additions from business acquisitions | (757) | 0 |
Recognized in earnings | (2,127) | (5,407) |
Recognized in other comprehensive income | 0 | 0 |
Recognized in equity | 0 | 0 |
Foreign currency translation adjustment and other | (959) | (1,068) |
Ending balance | (64,209) | (60,366) |
Refundable tax credits on salaries | ||
Reconciliation of changes in deferred tax liability (asset) [abstract] | ||
Beginning balance | (25,819) | (26,502) |
Additions from business acquisitions | 0 | 0 |
Recognized in earnings | 3,095 | 683 |
Recognized in other comprehensive income | 0 | 0 |
Recognized in equity | 0 | 0 |
Foreign currency translation adjustment and other | 0 | 0 |
Ending balance | (22,724) | (25,819) |
Cash flow hedges | ||
Reconciliation of changes in deferred tax liability (asset) [abstract] | ||
Beginning balance | (13,903) | 12,398 |
Additions from business acquisitions | 0 | 0 |
Recognized in earnings | (869) | (1,470) |
Recognized in other comprehensive income | 13,773 | (25,290) |
Recognized in equity | 0 | 0 |
Foreign currency translation adjustment and other | 524 | 459 |
Ending balance | (475) | (13,903) |
Other | ||
Reconciliation of changes in deferred tax liability (asset) [abstract] | ||
Beginning balance | (1,322) | (638) |
Additions from business acquisitions | 1,354 | 76 |
Recognized in earnings | 736 | (1,484) |
Recognized in other comprehensive income | 1,095 | 2,374 |
Recognized in equity | 0 | 0 |
Foreign currency translation adjustment and other | (759) | (1,650) |
Ending balance | $ 1,104 | $ (1,322) |
Income taxes - Disclosure of de
Income taxes - Disclosure of deferred tax balances (Details) - CAD ($) $ in Thousands | Sep. 30, 2020 | Oct. 01, 2019 | Sep. 30, 2019 | Sep. 30, 2018 |
Income Taxes [Abstract] | ||||
Deferred tax assets | $ 113,484 | $ 115,317 | $ 100,539 | |
Deferred tax liabilities | (158,341) | (161,453) | (178,265) | |
Deferred tax assets (liabilities) | $ (44,857) | $ (46,136) | $ (77,726) | $ (33,345) |
Income taxes - Narrative (Detai
Income taxes - Narrative (Details) - CAD ($) | Sep. 30, 2020 | Oct. 01, 2019 | Sep. 30, 2019 | Sep. 30, 2018 |
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||||
Net deferred tax asset | $ 41,380,000 | $ 54,814,000 | ||
Cash and cash equivalents | 1,707,985,000 | 213,831,000 | $ 184,091,000 | |
Deferred tax assets | 113,484,000 | $ 115,317,000 | 100,539,000 | |
Operating tax losses carried forward | ||||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||||
Tax losses carried forward | 291,255,000 | 367,352,000 | ||
Deferred tax asset Is recognised from loss | 217,563,000 | 289,976,000 | ||
Non-operating tax losses carried forward | ||||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||||
Tax losses carried forward | 485,546,000 | 471,772,000 | ||
Net deferred tax asset | 4,848,000 | 4,349,000 | ||
Deferred tax asset Is recognised from loss | 19,436,000 | 18,151,000 | ||
Unrecognized losses | 466,110,000 | 453,621,000 | ||
Expiring at various dates up to 2040 | Operating tax losses carried forward | ||||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||||
Tax losses carried forward | 59,390,000 | |||
Expiring at various dates up to 2038 | Operating tax losses carried forward | ||||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||||
Tax losses carried forward | 37,480,000 | |||
Unrecognized losses | 29,287,000 | |||
No expiry dates | Operating tax losses carried forward | ||||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||||
Tax losses carried forward | 231,865,000 | 329,872,000 | ||
Unrecognized losses | 42,053,000 | 48,089,000 | ||
Expiring at various dates up to 2032 | Operating tax losses carried forward | ||||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||||
Unrecognized losses | 31,639,000 | |||
Foreign countries | Subsidiaries | ||||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||||
Cash and cash equivalents | 836,101,000 | 149,121,000 | ||
Undistributed earnings from foreign subsidiaries for which deferred tax liabilities have not been recorded | $ 5,565,437,000 | 4,457,906,000 | ||
Germany | ||||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||||
Deferred tax assets | $ 18,500,000 |
Employee benefits - Narrative (
Employee benefits - Narrative (Details) | 12 Months Ended | |
Sep. 30, 2020CAD ($)plan | Sep. 30, 2019CAD ($) | |
Disclosure of defined benefit plans [line items] | ||
Deficit in plan | $ 139,320,000 | $ 96,589,000 |
Administration expenses paid from the plan | 1,247,000 | 1,848,000 |
Annual contributions | 7,903,000 | |
Pension cost for defined contribution plans | 228,998,000 | 221,063,000 |
Deferred compensation plan liabilities | 82,221,000 | 63,838,000 |
Deferred compensation plan assets | $ 73,156,000 | 62,627,000 |
U.K. | ||
Disclosure of defined benefit plans [line items] | ||
Number of defined benefit pension plans | plan | 3 | |
Deficit in plan | $ (85,509,000) | (96,227,000) |
Annual contributions | 1,657,000 | |
Other | ||
Disclosure of defined benefit plans [line items] | ||
Deficit in plan | 49,755,000 | 46,273,000 |
Annual contributions | 6,246,000 | |
U.S. | ||
Disclosure of defined benefit plans [line items] | ||
Deferred compensation plan assets | 72,743,000 | 62,247,000 |
CMG U.K. Pension Scheme | ||
Disclosure of defined benefit plans [line items] | ||
Deficit in plan | 26,546,000 | |
Contributions to plan by employer | 12,432,000 | |
Administration expenses paid from the plan | $ 1,279,000 | |
CMG U.K. Pension Scheme | U.K. | ||
Disclosure of defined benefit plans [line items] | ||
Equity investments, target allocation percentage of plan assets | 70.00% | |
Logica U.K. Pension & Life Assurance Scheme | U.K. | ||
Disclosure of defined benefit plans [line items] | ||
Equity investments, target allocation percentage of plan assets | 15.00% | |
Bond investments, target allocation percentage of plan assets | 85.00% | |
Logica Defined Benefit Pension Plan | ||
Disclosure of defined benefit plans [line items] | ||
Contributions to plan by employer | $ 344,200 | |
Logica Defined Benefit Pension Plan | U.K. | ||
Disclosure of defined benefit plans [line items] | ||
Equity investments, target allocation percentage of plan assets | 30.00% | |
Bond investments, target allocation percentage of plan assets | 70.00% | |
Alecta multi-employer plan | ||
Disclosure of defined benefit plans [line items] | ||
Annual contributions | $ 25,709,000 | |
Pension cost for defined contribution plans | $ 30,269,000 | $ 32,512,000 |
Proportion of total contributions to the plan | 0.40% | |
Proportion of total number of active members in the plan | 0.50% | |
Collective funding solvency percentage | 144.00% | 142.00% |
Alecta multi-employer plan | Minimum | ||
Disclosure of defined benefit plans [line items] | ||
Collective funding solvency allowed | 125.00% | |
Alecta multi-employer plan | Maximum | ||
Disclosure of defined benefit plans [line items] | ||
Collective funding solvency allowed | 175.00% |
Employee benefits - Amounts for
Employee benefits - Amounts for benefit plans included in balance sheet (Details) - CAD ($) $ in Thousands | Sep. 30, 2020 | Sep. 30, 2019 |
Disclosure of defined benefit plans [line items] | ||
Defined benefit obligations | $ (1,163,744) | $ (1,044,584) |
Fair value of plan assets | 1,024,424 | 947,995 |
Surplus (deficit) in plan | (139,320) | (96,589) |
Fair value of reimbursement rights | 24,033 | 23,879 |
Retirement benefits assets | 86,127 | 96,620 |
Retirement benefits obligations | (225,447) | (193,209) |
Net asset (liability) recognized in the balance sheet | (115,287) | (72,710) |
U.K. | ||
Disclosure of defined benefit plans [line items] | ||
Defined benefit obligations | (891,628) | (812,179) |
Fair value of plan assets | 977,137 | 908,406 |
Surplus (deficit) in plan | 85,509 | 96,227 |
Fair value of reimbursement rights | 0 | 0 |
Retirement benefits assets | 85,509 | 96,227 |
Retirement benefits obligations | 0 | 0 |
Net asset (liability) recognized in the balance sheet | 85,509 | 96,227 |
Germany | ||
Disclosure of defined benefit plans [line items] | ||
Defined benefit obligations | (104,090) | (101,298) |
Fair value of plan assets | 12,766 | 12,803 |
Surplus (deficit) in plan | (91,324) | (88,495) |
Fair value of reimbursement rights | 22,505 | 22,360 |
Retirement benefits assets | 0 | 0 |
Retirement benefits obligations | (91,324) | (88,495) |
Net asset (liability) recognized in the balance sheet | (68,819) | (66,135) |
France | ||
Disclosure of defined benefit plans [line items] | ||
Defined benefit obligations | (84,442) | (58,048) |
Fair value of plan assets | 692 | 0 |
Surplus (deficit) in plan | (83,750) | (58,048) |
Fair value of reimbursement rights | 0 | 0 |
Retirement benefits assets | 0 | 0 |
Retirement benefits obligations | (83,750) | (58,048) |
Net asset (liability) recognized in the balance sheet | (83,750) | (58,048) |
Other | ||
Disclosure of defined benefit plans [line items] | ||
Defined benefit obligations | (83,584) | (73,059) |
Fair value of plan assets | 33,829 | 26,786 |
Surplus (deficit) in plan | (49,755) | (46,273) |
Fair value of reimbursement rights | 1,528 | 1,519 |
Retirement benefits assets | 618 | 393 |
Retirement benefits obligations | (50,373) | (46,666) |
Net asset (liability) recognized in the balance sheet | $ (48,227) | $ (44,754) |
Employee benefits - Defined ben
Employee benefits - Defined benefit obligations (Details) - CAD ($) $ in Thousands | 12 Months Ended | |
Sep. 30, 2020 | Sep. 30, 2019 | |
Disclosure of net defined benefit liability (asset) [line items] | ||
Defined benefit liability (asset), beginning balance | $ 72,710 | |
Current service cost | 14,475 | $ 12,376 |
Interest cost | 629 | 1,965 |
Past service cost | 0 | 8,239 |
Defined benefit liability (asset), ending balance | 115,287 | 72,710 |
U.K. | ||
Disclosure of net defined benefit liability (asset) [line items] | ||
Defined benefit liability (asset), beginning balance | (96,227) | |
Defined benefit liability (asset), ending balance | (85,509) | (96,227) |
Germany | ||
Disclosure of net defined benefit liability (asset) [line items] | ||
Defined benefit liability (asset), beginning balance | 66,135 | |
Defined benefit liability (asset), ending balance | 68,819 | 66,135 |
France | ||
Disclosure of net defined benefit liability (asset) [line items] | ||
Defined benefit liability (asset), beginning balance | 58,048 | |
Defined benefit liability (asset), ending balance | 83,750 | 58,048 |
Other | ||
Disclosure of net defined benefit liability (asset) [line items] | ||
Defined benefit liability (asset), beginning balance | 44,754 | |
Defined benefit liability (asset), ending balance | 48,227 | 44,754 |
Defined benefit obligations | ||
Disclosure of net defined benefit liability (asset) [line items] | ||
Defined benefit liability (asset), beginning balance | 1,044,584 | 964,073 |
Current service cost | 14,475 | 12,376 |
Interest cost | 19,054 | 27,281 |
Past service cost | 8,239 | |
Business acquisitions (Note 27a) | 1,732 | 7,994 |
Actuarial (gains) losses due to change in financial assumptions | 40,294 | 129,388 |
Actuarial (gains) losses due to change in demographic assumptions | 24,072 | (15,708) |
Actuarial (gains) losses due to experience | (5,883) | (17,108) |
Plan participant contributions | 91 | 102 |
Benefits paid from the plan | (32,864) | (28,886) |
Benefits paid directly by employer | (5,073) | (7,099) |
Foreign currency translation adjustment | 63,262 | (36,068) |
Defined benefit liability (asset), ending balance | 1,163,744 | 1,044,584 |
Defined benefit obligations | Unfunded Plans | ||
Disclosure of net defined benefit liability (asset) [line items] | ||
Defined benefit liability (asset), beginning balance | 92,738 | |
Defined benefit liability (asset), ending balance | 119,512 | 92,738 |
Defined benefit obligations | Funded Plans | ||
Disclosure of net defined benefit liability (asset) [line items] | ||
Defined benefit liability (asset), beginning balance | 951,846 | |
Defined benefit liability (asset), ending balance | 1,044,232 | 951,846 |
Defined benefit obligations | U.K. | ||
Disclosure of net defined benefit liability (asset) [line items] | ||
Defined benefit liability (asset), beginning balance | 812,179 | 760,244 |
Current service cost | 1,060 | 889 |
Interest cost | 15,253 | 21,261 |
Past service cost | 8,239 | |
Business acquisitions (Note 27a) | 0 | 0 |
Actuarial (gains) losses due to change in financial assumptions | 36,135 | 99,257 |
Actuarial (gains) losses due to change in demographic assumptions | 17,671 | (6,947) |
Actuarial (gains) losses due to experience | (8,033) | (16,773) |
Plan participant contributions | 91 | 102 |
Benefits paid from the plan | (28,793) | (25,395) |
Benefits paid directly by employer | 0 | 0 |
Foreign currency translation adjustment | 46,065 | (28,698) |
Defined benefit liability (asset), ending balance | 891,628 | 812,179 |
Defined benefit obligations | U.K. | Unfunded Plans | ||
Disclosure of net defined benefit liability (asset) [line items] | ||
Defined benefit liability (asset), beginning balance | 0 | |
Defined benefit liability (asset), ending balance | 0 | 0 |
Defined benefit obligations | U.K. | Funded Plans | ||
Disclosure of net defined benefit liability (asset) [line items] | ||
Defined benefit liability (asset), beginning balance | 812,179 | |
Defined benefit liability (asset), ending balance | 891,628 | 812,179 |
Defined benefit obligations | Germany | ||
Disclosure of net defined benefit liability (asset) [line items] | ||
Defined benefit liability (asset), beginning balance | 101,298 | 89,959 |
Current service cost | 776 | 689 |
Interest cost | 576 | 1,512 |
Past service cost | 0 | |
Business acquisitions (Note 27a) | 0 | 1,444 |
Actuarial (gains) losses due to change in financial assumptions | (1,258) | 15,253 |
Actuarial (gains) losses due to change in demographic assumptions | 0 | (292) |
Actuarial (gains) losses due to experience | (530) | 1,065 |
Plan participant contributions | 0 | 0 |
Benefits paid from the plan | (1,645) | (263) |
Benefits paid directly by employer | (2,787) | (4,020) |
Foreign currency translation adjustment | 7,660 | (4,049) |
Defined benefit liability (asset), ending balance | 104,090 | 101,298 |
Defined benefit obligations | Germany | Unfunded Plans | ||
Disclosure of net defined benefit liability (asset) [line items] | ||
Defined benefit liability (asset), beginning balance | 0 | |
Defined benefit liability (asset), ending balance | 0 | 0 |
Defined benefit obligations | Germany | Funded Plans | ||
Disclosure of net defined benefit liability (asset) [line items] | ||
Defined benefit liability (asset), beginning balance | 101,298 | |
Defined benefit liability (asset), ending balance | 104,090 | 101,298 |
Defined benefit obligations | France | ||
Disclosure of net defined benefit liability (asset) [line items] | ||
Defined benefit liability (asset), beginning balance | 58,048 | 55,276 |
Current service cost | 4,665 | 4,251 |
Interest cost | 347 | 950 |
Past service cost | 0 | |
Business acquisitions (Note 27a) | 1,732 | 0 |
Actuarial (gains) losses due to change in financial assumptions | 4,279 | 7,806 |
Actuarial (gains) losses due to change in demographic assumptions | 6,401 | (6,667) |
Actuarial (gains) losses due to experience | 4,054 | (11) |
Plan participant contributions | 0 | 0 |
Benefits paid from the plan | 0 | 0 |
Benefits paid directly by employer | (454) | (1,248) |
Foreign currency translation adjustment | 5,370 | (2,309) |
Defined benefit liability (asset), ending balance | 84,442 | 58,048 |
Defined benefit obligations | France | Unfunded Plans | ||
Disclosure of net defined benefit liability (asset) [line items] | ||
Defined benefit liability (asset), beginning balance | 58,048 | |
Defined benefit liability (asset), ending balance | 84,442 | 58,048 |
Defined benefit obligations | France | Funded Plans | ||
Disclosure of net defined benefit liability (asset) [line items] | ||
Defined benefit liability (asset), beginning balance | 0 | |
Defined benefit liability (asset), ending balance | 0 | 0 |
Defined benefit obligations | Other | ||
Disclosure of net defined benefit liability (asset) [line items] | ||
Defined benefit liability (asset), beginning balance | 73,059 | 58,594 |
Current service cost | 7,974 | 6,547 |
Interest cost | 2,878 | 3,558 |
Past service cost | 0 | |
Business acquisitions (Note 27a) | 0 | 6,550 |
Actuarial (gains) losses due to change in financial assumptions | 1,138 | 7,072 |
Actuarial (gains) losses due to change in demographic assumptions | 0 | (1,802) |
Actuarial (gains) losses due to experience | (1,374) | (1,389) |
Plan participant contributions | 0 | 0 |
Benefits paid from the plan | (2,426) | (3,228) |
Benefits paid directly by employer | (1,832) | (1,831) |
Foreign currency translation adjustment | 4,167 | (1,012) |
Defined benefit liability (asset), ending balance | 83,584 | 73,059 |
Defined benefit obligations | Other | Unfunded Plans | ||
Disclosure of net defined benefit liability (asset) [line items] | ||
Defined benefit liability (asset), beginning balance | 34,690 | |
Defined benefit liability (asset), ending balance | 35,070 | 34,690 |
Defined benefit obligations | Other | Funded Plans | ||
Disclosure of net defined benefit liability (asset) [line items] | ||
Defined benefit liability (asset), beginning balance | 38,369 | |
Defined benefit liability (asset), ending balance | $ 48,514 | $ 38,369 |
Employee benefits - Plan assets
Employee benefits - Plan assets and reimbursement rights (Details) - CAD ($) $ in Thousands | 12 Months Ended | |
Sep. 30, 2020 | Sep. 30, 2019 | |
Disclosure of net defined benefit liability (asset) [line items] | ||
Defined benefit liability (asset), beginning balance | $ (72,710) | |
Interest income on plan assets | 629 | $ 1,965 |
Administration expenses paid from the plan | 1,247 | 1,848 |
Defined benefit liability (asset), ending balance | (115,287) | (72,710) |
Plan assets | 1,024,424 | 947,995 |
Reimbursement rights | 24,033 | 23,879 |
Plan assets and reimbursement rights | ||
Disclosure of net defined benefit liability (asset) [line items] | ||
Defined benefit liability (asset), beginning balance | 971,874 | 846,873 |
Interest income on plan assets | 18,426 | 25,316 |
Business acquisitions (Note 27a) | 664 | |
Employer contributions | 24,156 | 35,468 |
Return on assets excluding interest income | 15,626 | 133,706 |
Plan participants contributions | 91 | 102 |
Benefits paid from the plan | (32,864) | (28,886) |
Benefits paid directly by employer | (5,072) | (5,655) |
Administration expenses paid from the plan | (1,247) | (1,848) |
Foreign currency translation adjustment | 56,803 | (33,202) |
Defined benefit liability (asset), ending balance | 1,048,457 | 971,874 |
Plan assets | 1,024,424 | 947,995 |
Reimbursement rights | 24,033 | 23,879 |
U.K. | ||
Disclosure of net defined benefit liability (asset) [line items] | ||
Defined benefit liability (asset), beginning balance | 96,227 | |
Defined benefit liability (asset), ending balance | 85,509 | 96,227 |
Plan assets | 977,137 | 908,406 |
Reimbursement rights | 0 | 0 |
U.K. | Plan assets and reimbursement rights | ||
Disclosure of net defined benefit liability (asset) [line items] | ||
Defined benefit liability (asset), beginning balance | 908,406 | 787,550 |
Interest income on plan assets | 17,255 | 22,271 |
Business acquisitions (Note 27a) | 0 | |
Employer contributions | 14,398 | 24,430 |
Return on assets excluding interest income | 15,976 | 133,821 |
Plan participants contributions | 91 | 102 |
Benefits paid from the plan | (28,793) | (25,395) |
Benefits paid directly by employer | 0 | 0 |
Administration expenses paid from the plan | (1,189) | (1,696) |
Foreign currency translation adjustment | 50,993 | (32,677) |
Defined benefit liability (asset), ending balance | 977,137 | 908,406 |
Plan assets | 977,137 | 908,406 |
Reimbursement rights | 0 | 0 |
Germany | ||
Disclosure of net defined benefit liability (asset) [line items] | ||
Defined benefit liability (asset), beginning balance | (66,135) | |
Defined benefit liability (asset), ending balance | (68,819) | (66,135) |
Plan assets | 12,766 | 12,803 |
Reimbursement rights | 22,505 | 22,360 |
Germany | Plan assets and reimbursement rights | ||
Disclosure of net defined benefit liability (asset) [line items] | ||
Defined benefit liability (asset), beginning balance | 35,163 | 36,420 |
Interest income on plan assets | 204 | 620 |
Business acquisitions (Note 27a) | 0 | |
Employer contributions | 2,430 | 2,765 |
Return on assets excluding interest income | 46 | (784) |
Plan participants contributions | 0 | 0 |
Benefits paid from the plan | (1,645) | (263) |
Benefits paid directly by employer | (2,787) | (2,576) |
Administration expenses paid from the plan | 0 | 0 |
Foreign currency translation adjustment | 1,860 | (1,019) |
Defined benefit liability (asset), ending balance | 35,271 | 35,163 |
Plan assets | 12,766 | 12,803 |
Reimbursement rights | 22,505 | 22,360 |
France | ||
Disclosure of net defined benefit liability (asset) [line items] | ||
Defined benefit liability (asset), beginning balance | (58,048) | |
Defined benefit liability (asset), ending balance | (83,750) | (58,048) |
Plan assets | 692 | 0 |
Reimbursement rights | 0 | 0 |
France | Plan assets and reimbursement rights | ||
Disclosure of net defined benefit liability (asset) [line items] | ||
Defined benefit liability (asset), beginning balance | 0 | 0 |
Interest income on plan assets | 3 | 0 |
Business acquisitions (Note 27a) | 664 | |
Employer contributions | 454 | 1,248 |
Return on assets excluding interest income | 0 | 0 |
Plan participants contributions | 0 | 0 |
Benefits paid from the plan | 0 | 0 |
Benefits paid directly by employer | (454) | (1,248) |
Administration expenses paid from the plan | 0 | 0 |
Foreign currency translation adjustment | 25 | 0 |
Defined benefit liability (asset), ending balance | 692 | 0 |
Plan assets | 692 | 0 |
Reimbursement rights | 0 | 0 |
Other | ||
Disclosure of net defined benefit liability (asset) [line items] | ||
Defined benefit liability (asset), beginning balance | (44,754) | |
Defined benefit liability (asset), ending balance | (48,227) | (44,754) |
Plan assets | 33,829 | 26,786 |
Reimbursement rights | 1,528 | 1,519 |
Other | Plan assets and reimbursement rights | ||
Disclosure of net defined benefit liability (asset) [line items] | ||
Defined benefit liability (asset), beginning balance | 28,305 | 22,903 |
Interest income on plan assets | 964 | 2,425 |
Business acquisitions (Note 27a) | 0 | |
Employer contributions | 6,874 | 7,025 |
Return on assets excluding interest income | (396) | 669 |
Plan participants contributions | 0 | 0 |
Benefits paid from the plan | (2,426) | (3,228) |
Benefits paid directly by employer | (1,831) | (1,831) |
Administration expenses paid from the plan | (58) | (152) |
Foreign currency translation adjustment | 3,925 | 494 |
Defined benefit liability (asset), ending balance | 35,357 | 28,305 |
Plan assets | 33,829 | 26,786 |
Reimbursement rights | $ 1,528 | $ 1,519 |
Employee benefits - Fair value
Employee benefits - Fair value of plan assets (Details) - CAD ($) $ in Thousands | Sep. 30, 2020 | Sep. 30, 2019 |
Disclosure of fair value of plan assets [line items] | ||
Quoted equities | $ 472,318 | $ 366,203 |
Quoted bonds | 93,003 | 200,599 |
Cash | 52,318 | 111,545 |
Other | 406,785 | 269,648 |
Plan assets | 1,024,424 | 947,995 |
U.K. | ||
Disclosure of fair value of plan assets [line items] | ||
Quoted equities | 472,318 | 366,203 |
Quoted bonds | 93,003 | 200,599 |
Cash | 52,230 | 111,454 |
Other | 359,586 | 230,150 |
Plan assets | 977,137 | 908,406 |
Germany | ||
Disclosure of fair value of plan assets [line items] | ||
Quoted equities | 0 | 0 |
Quoted bonds | 0 | 0 |
Cash | 0 | 0 |
Other | 12,766 | 12,803 |
Plan assets | 12,766 | 12,803 |
France | ||
Disclosure of fair value of plan assets [line items] | ||
Quoted equities | 0 | 0 |
Quoted bonds | 0 | 0 |
Cash | 0 | 0 |
Other | 692 | 0 |
Plan assets | 692 | 0 |
Other | ||
Disclosure of fair value of plan assets [line items] | ||
Quoted equities | 0 | 0 |
Quoted bonds | 0 | 0 |
Cash | 88 | 91 |
Other | 33,741 | 26,695 |
Plan assets | $ 33,829 | $ 26,786 |
Employee benefits - Employee be
Employee benefits - Employee benefit expenses (Details) - CAD ($) | 12 Months Ended | |
Sep. 30, 2020 | Sep. 30, 2019 | |
Disclosure of defined benefit plans [line items] | ||
Current service cost | $ 14,475,000 | $ 12,376,000 |
Past service cost | 0 | 8,239,000 |
Net interest on net defined benefit obligations or assets | 629,000 | 1,965,000 |
Administration expenses | 1,247,000 | 1,848,000 |
Defined benefit plan expenses | 16,351,000 | 24,428,000 |
Net finance costs | 1,876,000 | 3,813,000 |
Costs of services, selling and administrative | ||
Disclosure of defined benefit plans [line items] | ||
Defined benefit plan expenses | $ 14,475,000 | $ 20,615,000 |
Employee benefits - Actuarial a
Employee benefits - Actuarial assumptions (Details) - year | Sep. 30, 2020 | Sep. 30, 2019 |
U.K. | ||
Disclosure of defined benefit plans [line items] | ||
Discount rate | 1.53% | 1.82% |
Future salary increases | 2.84% | 3.03% |
Future pension increases | 2.82% | 3.00% |
Inflation rate | 2.84% | 3.03% |
Longevity at age 65 for current members, Males | 21.8 | 21.8 |
Longevity at age 65 for current members, Females | 23.7 | 23.1 |
Longevity at age 45 for current members, Males | 23.2 | 23.6 |
Longevity at age 45 for current members, Females | 25.3 | 25.2 |
Germany | ||
Disclosure of defined benefit plans [line items] | ||
Discount rate | 0.65% | 0.56% |
Future salary increases | 2.50% | 2.50% |
Future pension increases | 1.50% | 1.50% |
Inflation rate | 2.00% | 2.00% |
Longevity at age 65 for current members, Males | 20 | 20 |
Longevity at age 65 for current members, Females | 23 | 23 |
Longevity at age 45 for current members, Males | 24 | 24 |
Longevity at age 45 for current members, Females | 26 | 26 |
France | ||
Disclosure of defined benefit plans [line items] | ||
Discount rate | 0.65% | 0.56% |
Future salary increases | 3.79% | 3.29% |
Future pension increases | 0.00% | 0.00% |
Inflation rate | 2.00% | 2.00% |
Other | ||
Disclosure of defined benefit plans [line items] | ||
Discount rate | 3.11% | 3.05% |
Future salary increases | 1.51% | 1.07% |
Future pension increases | 2.51% | 0.06% |
Inflation rate | 0.08% | 2.40% |
Employee benefits - Change in p
Employee benefits - Change in principal actuarial assumptions (Details) - CAD ($) $ in Thousands | 12 Months Ended | |
Sep. 30, 2020 | Sep. 30, 2019 | |
Actuarial assumption of discount rates | U.K. | ||
Disclosure of sensitivity analysis for actuarial assumptions [line items] | ||
Percentage of reasonably possible increase in actuarial assumption | 0.25% | 0.25% |
Percentage of reasonably possible decrease in actuarial assumption | 0.25% | 0.25% |
Increase (decrease) in defined benefit obligation due to reasonably possible increase in actuarial assumption | $ (36,622) | $ (33,082) |
Increase (decrease) in defined benefit obligation due to reasonably possible decrease in actuarial assumption | $ 38,192 | $ 34,484 |
Actuarial assumption of discount rates | Germany | ||
Disclosure of sensitivity analysis for actuarial assumptions [line items] | ||
Percentage of reasonably possible increase in actuarial assumption | 0.25% | 0.25% |
Percentage of reasonably possible decrease in actuarial assumption | 0.25% | 0.25% |
Increase (decrease) in defined benefit obligation due to reasonably possible increase in actuarial assumption | $ (3,445) | $ (3,440) |
Increase (decrease) in defined benefit obligation due to reasonably possible decrease in actuarial assumption | $ 3,632 | $ 3,632 |
Actuarial assumption of discount rates | France | ||
Disclosure of sensitivity analysis for actuarial assumptions [line items] | ||
Percentage of reasonably possible increase in actuarial assumption | 0.25% | 0.25% |
Percentage of reasonably possible decrease in actuarial assumption | 0.25% | 0.25% |
Increase (decrease) in defined benefit obligation due to reasonably possible increase in actuarial assumption | $ (2,936) | $ (2,027) |
Increase (decrease) in defined benefit obligation due to reasonably possible decrease in actuarial assumption | $ 3,079 | $ 2,126 |
Actuarial assumption of expected rates of salary increases | U.K. | ||
Disclosure of sensitivity analysis for actuarial assumptions [line items] | ||
Percentage of reasonably possible increase in actuarial assumption | 0.25% | 0.25% |
Percentage of reasonably possible decrease in actuarial assumption | 0.25% | 0.25% |
Increase (decrease) in defined benefit obligation due to reasonably possible increase in actuarial assumption | $ 441 | $ 408 |
Increase (decrease) in defined benefit obligation due to reasonably possible decrease in actuarial assumption | $ (437) | $ (404) |
Actuarial assumption of expected rates of salary increases | Germany | ||
Disclosure of sensitivity analysis for actuarial assumptions [line items] | ||
Percentage of reasonably possible increase in actuarial assumption | 0.25% | 0.25% |
Percentage of reasonably possible decrease in actuarial assumption | 0.25% | 0.25% |
Increase (decrease) in defined benefit obligation due to reasonably possible increase in actuarial assumption | $ 36 | $ 56 |
Increase (decrease) in defined benefit obligation due to reasonably possible decrease in actuarial assumption | $ (36) | $ (55) |
Actuarial assumption of expected rates of salary increases | France | ||
Disclosure of sensitivity analysis for actuarial assumptions [line items] | ||
Percentage of reasonably possible increase in actuarial assumption | 0.25% | 0.25% |
Percentage of reasonably possible decrease in actuarial assumption | 0.25% | 0.25% |
Increase (decrease) in defined benefit obligation due to reasonably possible increase in actuarial assumption | $ 3,091 | $ 2,132 |
Increase (decrease) in defined benefit obligation due to reasonably possible decrease in actuarial assumption | $ (2,962) | $ (2,044) |
Actuarial assumption of expected rates of pension increases | U.K. | ||
Disclosure of sensitivity analysis for actuarial assumptions [line items] | ||
Percentage of reasonably possible increase in actuarial assumption | 0.25% | 0.25% |
Percentage of reasonably possible decrease in actuarial assumption | 0.25% | 0.25% |
Increase (decrease) in defined benefit obligation due to reasonably possible increase in actuarial assumption | $ 18,528 | $ 16,758 |
Increase (decrease) in defined benefit obligation due to reasonably possible decrease in actuarial assumption | $ (18,132) | $ (16,398) |
Actuarial assumption of expected rates of pension increases | Germany | ||
Disclosure of sensitivity analysis for actuarial assumptions [line items] | ||
Percentage of reasonably possible increase in actuarial assumption | 0.25% | 0.25% |
Percentage of reasonably possible decrease in actuarial assumption | 0.25% | 0.25% |
Increase (decrease) in defined benefit obligation due to reasonably possible increase in actuarial assumption | $ 1,598 | $ 1,601 |
Increase (decrease) in defined benefit obligation due to reasonably possible decrease in actuarial assumption | $ (1,531) | $ (1,531) |
Actuarial assumption of expected rates of pension increases | France | ||
Disclosure of sensitivity analysis for actuarial assumptions [line items] | ||
Percentage of reasonably possible increase in actuarial assumption | 0.25% | 0.25% |
Percentage of reasonably possible decrease in actuarial assumption | 0.25% | 0.25% |
Increase (decrease) in defined benefit obligation due to reasonably possible increase in actuarial assumption | $ 0 | $ 0 |
Increase (decrease) in defined benefit obligation due to reasonably possible decrease in actuarial assumption | $ 0 | $ 0 |
Actuarial assumption of expected rates of inflation | U.K. | ||
Disclosure of sensitivity analysis for actuarial assumptions [line items] | ||
Percentage of reasonably possible increase in actuarial assumption | 0.25% | 0.25% |
Percentage of reasonably possible decrease in actuarial assumption | 0.25% | 0.25% |
Increase (decrease) in defined benefit obligation due to reasonably possible increase in actuarial assumption | $ 29,148 | $ 26,342 |
Increase (decrease) in defined benefit obligation due to reasonably possible decrease in actuarial assumption | $ (28,207) | $ (25,490) |
Actuarial assumption of expected rates of inflation | Germany | ||
Disclosure of sensitivity analysis for actuarial assumptions [line items] | ||
Percentage of reasonably possible increase in actuarial assumption | 0.25% | 0.25% |
Percentage of reasonably possible decrease in actuarial assumption | 0.25% | 0.25% |
Increase (decrease) in defined benefit obligation due to reasonably possible increase in actuarial assumption | $ 1,598 | $ 1,601 |
Increase (decrease) in defined benefit obligation due to reasonably possible decrease in actuarial assumption | $ (1,531) | $ (1,531) |
Actuarial assumption of expected rates of inflation | France | ||
Disclosure of sensitivity analysis for actuarial assumptions [line items] | ||
Percentage of reasonably possible increase in actuarial assumption | 0.25% | 0.25% |
Percentage of reasonably possible decrease in actuarial assumption | 0.25% | 0.25% |
Increase (decrease) in defined benefit obligation due to reasonably possible increase in actuarial assumption | $ 3,091 | $ 2,132 |
Increase (decrease) in defined benefit obligation due to reasonably possible decrease in actuarial assumption | $ (2,962) | $ (2,044) |
Actuarial assumption of life expectancy after retirement | U.K. | ||
Disclosure of sensitivity analysis for actuarial assumptions [line items] | ||
Period of reasonably possible increase in actuarial assumption | 1 year | 1 year |
Period of reasonably possible decrease in actuarial assumption | 1 year | 1 year |
Increase (decrease) in defined benefit obligation due to reasonably possible increase in actuarial assumption | $ 27,126 | $ 20,884 |
Increase (decrease) in defined benefit obligation due to reasonably possible decrease in actuarial assumption | $ (26,843) | $ (20,824) |
Actuarial assumption of life expectancy after retirement | Germany | ||
Disclosure of sensitivity analysis for actuarial assumptions [line items] | ||
Period of reasonably possible increase in actuarial assumption | 1 year | 1 year |
Period of reasonably possible decrease in actuarial assumption | 1 year | 1 year |
Increase (decrease) in defined benefit obligation due to reasonably possible increase in actuarial assumption | $ 3,615 | $ 3,325 |
Increase (decrease) in defined benefit obligation due to reasonably possible decrease in actuarial assumption | $ (3,040) | $ (2,938) |
Actuarial assumption of life expectancy after retirement | France | ||
Disclosure of sensitivity analysis for actuarial assumptions [line items] | ||
Period of reasonably possible increase in actuarial assumption | 1 year | 1 year |
Period of reasonably possible decrease in actuarial assumption | 1 year | 1 year |
Increase (decrease) in defined benefit obligation due to reasonably possible increase in actuarial assumption | $ 558 | $ 384 |
Increase (decrease) in defined benefit obligation due to reasonably possible decrease in actuarial assumption | $ (592) | $ (406) |
Employee benefits - Weighted av
Employee benefits - Weighted average duration of benefit obligations (Details) | 12 Months Ended | |
Sep. 30, 2020 | Sep. 30, 2019 | |
U.K. | ||
Disclosure of defined benefit plans [line items] | ||
Weighted average duration of defined benefit obligation | 18 years | 18 years |
Germany | ||
Disclosure of defined benefit plans [line items] | ||
Weighted average duration of defined benefit obligation | 14 years | 14 years |
France | ||
Disclosure of defined benefit plans [line items] | ||
Weighted average duration of defined benefit obligation | 14 years | 14 years |
Other | ||
Disclosure of defined benefit plans [line items] | ||
Weighted average duration of defined benefit obligation | 12 years | 13 years |
Accumulated other comprehensi_3
Accumulated other comprehensive income (Details) - CAD ($) | 12 Months Ended | |
Sep. 30, 2020 | Sep. 30, 2019 | |
Items that will be reclassified subsequently to net earnings (net of income taxes): | ||
Net unrealized gains on translating financial statements of foreign operations, net of accumulated income tax expense of $56,239 ($63,579 as at September 30, 2019) | $ 1,002,804,000 | $ 596,358,000 |
Net losses on cross-currency swaps and on translating long-term debt designated as hedges of net investments in foreign operations, net of accumulated income tax recovery of $63,692 ($67,165 as at September 30, 2019) | (417,462,000) | (426,376,000) |
Deferred gains (costs) of hedging on cross-currency swaps, net of accumulated income tax expense of $4,049 (net of accumulated income tax recovery $1,113 as at September 30, 2019) | 14,053,000 | (4,091,000) |
Net unrealized (losses) gains on cash flow hedges, net of accumulated income tax recovery of $2,554 (net of accumulated income tax expense of $13,003 as at September 30, 2019) | (5,935,000) | 24,157,000 |
Other comprehensive income, net of tax, financial assets measured at fair value through other comprehensive income | 4,340,000 | 1,486,000 |
Items that will be reclassified subsequently to net earnings, tax portion: | ||
Net unrealized gains on translating financial statement of foreign operations, accumulated income tax expense (recovery) | 56,239,000 | 63,579,000 |
Net losses on derivative financial instruments and translating long-term debt designated as hedges in net investments in foreign operations, accumulated income tax expense (recovery) | (63,692,000) | (67,165,000) |
Deferred costs of hedging on cross-currency swaps, net of accumulated income tax recovery | 4,049,000 | (1,113,000) |
Net unrealized (losses) gains on cash flow hedges, accumulated income tax expense (recovery) | (2,554,000) | 13,003,000 |
Net unrealized (losses) gains on available-for-sale investments, accumulated income tax expense (recovery) | 1,291,000 | 352,000 |
Items that will not be reclassified subsequently to net earnings (net of income taxes): | ||
Net remeasurement losses on defined benefit plans, net of accumulated income tax recovery of $18,920 ($8,698 as at September 30, 2019) | (52,090,000) | (14,840,000) |
Items that will not be reclassified subsequently to net earnings, tax portion: | ||
Net remeasurement losses on defined benefit plans, accumulated income tax expense (recovery) | (18,920,000) | (8,698,000) |
Accumulated other comprehensive income | 545,710,000 | 176,694,000 |
Net unrealized gains on cash flow hedges previously recognized in other comprehensive income, reclassified to net earnings | 5,616,000 | 8,306,000 |
Net unrealized gains on cash flow hedges previously recognized in other comprehensive income, reclassified to net earnings, income tax expense | (1,648,000) | 4,311,000 |
Deferred costs of hedging on cross-currency swaps | 10,268,000 | 5,203,000 |
Reclassification adjustments on other comprehensive income (loss), deferred gains (cost) of hedging, tax | $ 3,702,000 | $ (1,113,000) |
Capital stock - Narrative (Deta
Capital stock - Narrative (Details) - Capital stock | 12 Months Ended |
Sep. 30, 2020vote | |
Preferred shares | |
Disclosure of classes of share capital [line items] | |
Number of votes per share | 1 |
Class A subordinate voting shares | |
Disclosure of classes of share capital [line items] | |
Number of votes per share | 1 |
Class B multiple voting shares | |
Disclosure of classes of share capital [line items] | |
Number of votes per share | 10 |
Capital stock - Schedule of Sha
Capital stock - Schedule of Shares (Details) - CAD ($) | Jan. 29, 2020 | Sep. 30, 2020 | Sep. 30, 2019 |
Reconciliation of number of shares outstanding [abstract] | |||
Beginning balance | $ 6,884,103,000 | $ 6,684,807,000 | |
Issued upon exercise of stock options (in shares) | 1,438,877 | 1,942,580 | |
Issued upon exercise of stock options | $ 57,151,000 | $ 63,703,000 | |
PSUs exercised | 0 | 0 | |
Purchased and held in trust | (55,287,000) | (30,740,000) | |
Ending balance | 7,264,160,000 | 6,884,103,000 | |
Contributed surplus | |||
Reconciliation of number of shares outstanding [abstract] | |||
Beginning balance | 245,577,000 | 213,195,000 | |
Issued upon exercise of stock options | (12,269,000) | (14,070,000) | |
PSUs exercised | (9,078,000) | (7,651,000) | |
Ending balance | 252,935,000 | 245,577,000 | |
Contributed surplus | Class A subordinate shares | |||
Reconciliation of number of shares outstanding [abstract] | |||
Issued upon exercise of stock options | $ (12,269,000) | $ (14,070,000) | |
Capital stock | |||
Reconciliation of number of shares outstanding [abstract] | |||
Beginning balance (in shares) | 268,803,168,000 | 279,370,820,000 | |
Beginning balance | $ 1,903,977,000 | $ 2,018,592,000 | |
Issued upon exercise of stock options (in shares) | 1,438,877,000 | 1,942,580,000 | |
Issued upon exercise of stock options | $ 69,420,000 | $ 77,773,000 | |
PSUs exercised (in shares) | 0 | 0 | |
PSUs exercised | $ 9,078,000 | $ 7,651,000 | |
Purchased and cancelled (in shares) | (10,605,464,000) | (12,510,232,000) | |
Purchased and cancelled | $ (165,315,000) | $ (169,299,000) | |
Purchased and held in trust (in shares) | 0 | 0 | |
Purchased and held in trust | $ (55,287,000) | $ (30,740,000) | |
Ending balance (in shares) | 259,636,581,000 | 268,803,168,000 | |
Ending balance | $ 1,761,873,000 | $ 1,903,977,000 | |
Capital stock | Class A subordinate shares | |||
Reconciliation of number of shares outstanding [abstract] | |||
Beginning balance (in shares) | 239,857,462,000 | 250,425,114,000 | |
Beginning balance | $ 1,863,595,000 | $ 1,978,210,000 | |
Issued upon exercise of stock options (in shares) | 1,438,877,000 | 1,942,580,000 | |
Issued upon exercise of stock options | $ 69,420,000 | $ 77,773,000 | |
PSUs exercised (in shares) | 0 | 0 | |
PSUs exercised | $ 9,078,000 | $ 7,651,000 | |
Purchased and cancelled (in shares) | (10,605,464,000) | (12,510,232,000) | |
Purchased and cancelled | $ (165,315,000) | $ (169,299,000) | |
Purchased and held in trust (in shares) | 0 | 0 | |
Purchased and held in trust | $ (55,287,000) | $ (30,740,000) | |
Ending balance (in shares) | 230,690,875,000 | 239,857,462,000 | |
Ending balance | $ 1,721,491,000 | $ 1,863,595,000 | |
Shares purchased (in shares) | 525,331 | 374,995 | |
Capital stock | Class B multiple voting shares | |||
Reconciliation of number of shares outstanding [abstract] | |||
Beginning balance (in shares) | 28,945,706,000 | 28,945,706,000 | |
Beginning balance | $ 40,382,000 | $ 40,382,000 | |
Issued upon exercise of stock options (in shares) | 0 | 0 | |
Issued upon exercise of stock options | $ 0 | $ 0 | |
PSUs exercised (in shares) | 0 | 0 | |
PSUs exercised | $ 0 | $ 0 | |
Purchased and cancelled (in shares) | 0 | 0 | |
Purchased and cancelled | $ 0 | $ 0 | |
Purchased and held in trust (in shares) | 0 | 0 | |
Purchased and held in trust | $ 0 | $ 0 | |
Ending balance (in shares) | 28,945,706,000 | 28,945,706,000 | |
Ending balance | $ 40,382,000 | $ 40,382,000 | |
Retained earnings | |||
Reconciliation of number of shares outstanding [abstract] | |||
Beginning balance | 4,557,855,000 | 4,251,424,000 | |
Ending balance | $ 4,703,642,000 | $ 4,557,855,000 | |
PSUs | |||
Reconciliation of number of shares outstanding [abstract] | |||
PSUs exercised (in shares) | 157,788 | 160,694 | |
PSUs | Capital stock | |||
Reconciliation of number of shares outstanding [abstract] | |||
PSUs exercised (in shares) | 157,788 | 160,694 | |
PSUs | Capital stock | Class A subordinate shares | |||
Reconciliation of number of shares outstanding [abstract] | |||
Shares outstanding, held in trust (in shares) | 1,243,022 | 875,480 | |
NCIB | Capital stock | Class A subordinate shares | |||
Reconciliation of number of shares outstanding [abstract] | |||
Purchased and cancelled (in shares) | (4,596,559) | (7,301,870) | |
Purchased and cancelled | $ 443,517,000 | $ 626,075,000 | |
Number of shares authorized for purchase and cancellation (in shares) | 20,149,100 | ||
NCIB | Retained earnings | Class A subordinate shares | |||
Reconciliation of number of shares outstanding [abstract] | |||
Purchased and cancelled | $ 406,747,000 | $ 567,125,000 | |
Normal Course Issuer Bid - Caisse De Depot | Capital stock | Class A subordinate shares | |||
Reconciliation of number of shares outstanding [abstract] | |||
Purchased and cancelled (in shares) | (6,008,905) | (5,158,362) | |
Purchased and cancelled | $ (600,000,000) | $ (500,000,000) | |
Normal Course Issuer Bid - Caisse De Depot | Retained earnings | Class A subordinate shares | |||
Reconciliation of number of shares outstanding [abstract] | |||
Purchased and cancelled | $ (471,455,000) | $ (389,651,000) |
Share-based payments - Stock op
Share-based payments - Stock options (Details) - $ / shares | 12 Months Ended | |
Sep. 30, 2020 | Sep. 30, 2019 | |
Disclosure of classes of share capital [line items] | ||
Weighted average share price for share options at date of exercise (in CAD per share) | $ 99.79 | $ 93.68 |
Stock options | ||
Disclosure of classes of share capital [line items] | ||
Vesting period for stock options | 4 years | |
Expiration period for stock options | 10 years | |
Stock options | Class A subordinate shares | ||
Disclosure of classes of share capital [line items] | ||
Number of shares reserved for issuance under the stock option plan (in shares) | 24,442,509 |
Share-based payments - Disclosu
Share-based payments - Disclosure of information concerning outstanding stock options (Details) | 12 Months Ended | |
Sep. 30, 2020shares$ / shares | Sep. 30, 2019shares$ / shares | |
Share-Based Payment Arrangements [Abstract] | ||
Outstanding, beginning of year (in shares) | shares | 9,891,592 | 12,830,826 |
Granted (in shares) | shares | 913,560 | 52,735 |
Exercised (in shares) | shares | (1,438,877) | (1,942,580) |
Forfeited (in shares) | shares | (431,223) | (1,045,783) |
Expired (in shares) | shares | (955) | (3,606) |
Outstanding, end of year (in shares) | shares | 8,934,097 | 9,891,592 |
Exercisable, end of year (in shares) | shares | 5,748,402 | 5,460,470 |
Outstanding, beginning of year (in CAD per share) | $ / shares | $ 54.64 | $ 52.01 |
Granted (in CAD per share) | $ / shares | 110.65 | 82.59 |
Excercised (in CAD per share) | $ / shares | 39.72 | 32.81 |
Forfeited (in CAD per share) | $ / shares | 84.50 | 64.11 |
Expired (in CAD per share) | $ / shares | 74.55 | 34.79 |
Outstanding, end of year (in CAD per share) | $ / shares | 61.33 | 54.64 |
Excercisable (in CAD per share) | $ / shares | $ 49.02 | $ 41.32 |
Share-based payments - Disclo_2
Share-based payments - Disclosure of range of exercise prices, number of options and weighted average remaining contractual life (Details) | 12 Months Ended | ||
Sep. 30, 2020shares$ / shares | Sep. 30, 2019shares$ / shares | Sep. 30, 2018shares$ / shares | |
Disclosure of number and weighted average remaining contractual life of outstanding share options [line items] | |||
Number of options outstanding (in shares) | shares | 8,934,097 | 9,891,592 | 12,830,826 |
Weighted average remaining contractual life of options outstanding | 5 years 10 months 13 days | ||
Weighted average exercise price of options outstanding (in CAD per share) | $ 61.33 | $ 54.64 | $ 52.01 |
Number of options exercisable (in shares) | shares | 5,748,402 | 5,460,470 | |
Weighted average exercise price of options exercisable (in CAD per share) | $ 49.02 | $ 41.32 | |
14.48 to 38.79 | |||
Disclosure of number and weighted average remaining contractual life of outstanding share options [line items] | |||
Number of options outstanding (in shares) | shares | 1,945,743 | ||
Weighted average remaining contractual life of options outstanding | 2 years 8 months 12 days | ||
Weighted average exercise price of options outstanding (in CAD per share) | $ 29.83 | ||
Number of options exercisable (in shares) | shares | 1,945,743 | ||
Weighted average exercise price of options exercisable (in CAD per share) | $ 29.83 | ||
14.48 to 38.79 | Minimum | |||
Disclosure of number and weighted average remaining contractual life of outstanding share options [line items] | |||
Exercise price (in CAD per share) | 14.48 | ||
14.48 to 38.79 | Maximum | |||
Disclosure of number and weighted average remaining contractual life of outstanding share options [line items] | |||
Exercise price (in CAD per share) | $ 38.79 | ||
39.47 to 50.94 | |||
Disclosure of number and weighted average remaining contractual life of outstanding share options [line items] | |||
Number of options outstanding (in shares) | shares | 1,356,156 | ||
Weighted average remaining contractual life of options outstanding | 4 years 8 months 5 days | ||
Weighted average exercise price of options outstanding (in CAD per share) | $ 45.21 | ||
Number of options exercisable (in shares) | shares | 1,356,156 | ||
Weighted average exercise price of options exercisable (in CAD per share) | $ 45.21 | ||
39.47 to 50.94 | Minimum | |||
Disclosure of number and weighted average remaining contractual life of outstanding share options [line items] | |||
Exercise price (in CAD per share) | 39.47 | ||
39.47 to 50.94 | Maximum | |||
Disclosure of number and weighted average remaining contractual life of outstanding share options [line items] | |||
Exercise price (in CAD per share) | $ 50.94 | ||
52.63 to 63.72 | |||
Disclosure of number and weighted average remaining contractual life of outstanding share options [line items] | |||
Number of options outstanding (in shares) | shares | 3,235,718 | ||
Weighted average remaining contractual life of options outstanding | 6 years 5 months 5 days | ||
Weighted average exercise price of options outstanding (in CAD per share) | $ 63 | ||
Number of options exercisable (in shares) | shares | 2,019,298 | ||
Weighted average exercise price of options exercisable (in CAD per share) | $ 62.87 | ||
52.63 to 63.72 | Minimum | |||
Disclosure of number and weighted average remaining contractual life of outstanding share options [line items] | |||
Exercise price (in CAD per share) | 52.63 | ||
52.63 to 63.72 | Maximum | |||
Disclosure of number and weighted average remaining contractual life of outstanding share options [line items] | |||
Exercise price (in CAD per share) | $ 63.72 | ||
67.04 to 87.65 | |||
Disclosure of number and weighted average remaining contractual life of outstanding share options [line items] | |||
Number of options outstanding (in shares) | shares | 1,523,387 | ||
Weighted average remaining contractual life of options outstanding | 7 years 11 months 1 day | ||
Weighted average exercise price of options outstanding (in CAD per share) | $ 84.05 | ||
Number of options exercisable (in shares) | shares | 426,416 | ||
Weighted average exercise price of options exercisable (in CAD per share) | $ 82.94 | ||
67.04 to 87.65 | Minimum | |||
Disclosure of number and weighted average remaining contractual life of outstanding share options [line items] | |||
Exercise price (in CAD per share) | 67.04 | ||
67.04 to 87.65 | Maximum | |||
Disclosure of number and weighted average remaining contractual life of outstanding share options [line items] | |||
Exercise price (in CAD per share) | $ 87.65 | ||
102.79 to 110.73 | |||
Disclosure of number and weighted average remaining contractual life of outstanding share options [line items] | |||
Number of options outstanding (in shares) | shares | 873,093 | ||
Weighted average remaining contractual life of options outstanding | 9 years 2 months 1 day | ||
Weighted average exercise price of options outstanding (in CAD per share) | $ 110.70 | ||
Number of options exercisable (in shares) | shares | 789 | ||
Weighted average exercise price of options exercisable (in CAD per share) | $ 102.79 | ||
102.79 to 110.73 | Minimum | |||
Disclosure of number and weighted average remaining contractual life of outstanding share options [line items] | |||
Exercise price (in CAD per share) | 102.79 | ||
102.79 to 110.73 | Maximum | |||
Disclosure of number and weighted average remaining contractual life of outstanding share options [line items] | |||
Exercise price (in CAD per share) | $ 110.73 |
Share-based payments - Disclo_3
Share-based payments - Disclosure of weighted average assumptions used in the calculation of fair value of stock options (Details) | 12 Months Ended | |
Sep. 30, 2020CAD ($)year$ / shares | Sep. 30, 2019CAD ($)year$ / shares | |
Share-Based Payment Arrangements [Abstract] | ||
Grant date fair value (in CAD per share) | $ | $ 17.71 | $ 16.24 |
Dividend yield (%) | 0.00% | 0.00% |
Expected volatility (%) | 16.60% | 19.79% |
Risk-free interest rate (%) | 1.55% | 2.26% |
Expected life (years) | year | 4 | 4 |
Exercise price (in CAD per share) | $ 110.65 | $ 82.59 |
Share price (in CAD per share) | $ 110.65 | $ 82.59 |
Share-based payments - Performa
Share-based payments - Performance share units (Details) - PSUs | 12 Months Ended |
Sep. 30, 2020planshares | |
Disclosure of terms and conditions of share-based payment arrangement [line items] | |
Number of plans in share-based payment arrangement | plan | 2 |
Vesting period for PSUs | 4 years |
Class A subordinate shares | |
Disclosure of terms and conditions of share-based payment arrangement [line items] | |
Number of shares per PSU to which participants are entitled (in shares) | shares | 1 |
Share-based payments - Disclo_4
Share-based payments - Disclosure of information concerning PSUs (Details) - PSUs | 12 Months Ended | |
Sep. 30, 2020CAD ($)shares | Sep. 30, 2019CAD ($)shares | |
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||
Outstanding, beginning of period (in shares) | 861,485 | 658,732 |
Granted (in shares) | 607,342 | 472,187 |
Exercised (in shares) | (157,788) | (160,694) |
Forfeited (in shares) | (79,569) | (108,740) |
Outstanding, end of period (in shares) | 1,231,470 | 861,485 |
Grant date fair value (in CAD per share) | $ | $ 107.39 | $ 83.24 |
Share-based payments - Share pu
Share-based payments - Share purchase plan (Narrative) (Details) | 12 Months Ended |
Sep. 30, 2020 | |
Share purchase plan | |
Disclosure of terms and conditions of share-based payment arrangement [line items] | |
Maximum match of employee's basic contribution (as a percent) | 3.50% |
Share-based payments - Deferred
Share-based payments - Deferred share unit plan (Narrative) (Details) - shares | Sep. 30, 2020 | Sep. 30, 2019 |
DSUs | ||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||
Number of outstanding DSUs (in shares) | 152,743 | 137,571 |
Share-based payments - Disclo_5
Share-based payments - Disclosure of share-based payment expense (Details) - CAD ($) $ in Thousands | 12 Months Ended | |
Sep. 30, 2020 | Sep. 30, 2019 | |
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||
Share-based payment expense | $ 164,733 | $ 158,061 |
Stock options | ||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||
Share-based payment expense | 16,378 | 21,674 |
PSUs | ||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||
Share-based payment expense | 20,979 | 17,766 |
Share purchase plan | ||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||
Share-based payment expense | 127,983 | 115,287 |
DSUs | ||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||
Share-based payment expense | $ (607) | $ 3,334 |
Earnings per share (Details)
Earnings per share (Details) - CAD ($) $ / shares in Units, $ in Thousands | 12 Months Ended | |
Sep. 30, 2020 | Sep. 30, 2019 | |
Earnings per share [line items] | ||
Basic net earnings | $ 1,117,862 | $ 1,263,207 |
Diluted net earnings | $ 1,117,862 | $ 1,263,207 |
Weighted average number of ordinary shares outstanding (in shares) | 262,005,521 | 272,719,309 |
Net effect of dilutive stock options and PSUs (in shares) | 4,098,541 | 5,066,415 |
Diluted weighted average number of ordinary shares outstanding (in shares) | 266,104,062 | 277,785,724 |
Basic earnings per share (CAD per share) | $ 4.27 | $ 4.63 |
Diluted earnings per share (CAD per share) | $ 4.20 | $ 4.55 |
Anti-dilutive securities excluded from computation of earnings per share (in shares) | 876,213 | 1,716,774 |
Class A subordinate shares | Capital stock | ||
Earnings per share [line items] | ||
Anti-dilutive securities excluded from computation of earnings per share (in shares) | 10,605,464 | 12,460,232 |
PSUs | Class A subordinate shares | Capital stock | ||
Earnings per share [line items] | ||
Anti-dilutive securities excluded from computation of earnings per share (in shares) | 1,243,022 | 875,480 |
Remaining performance obligat_2
Remaining performance obligations (Details) - CAD ($) | 12 Months Ended | |
Sep. 30, 2020 | Sep. 30, 2019 | |
Disclosure of performance obligations [abstract] | ||
Transaction price allocated to remaining performance obligations | $ 824,854,000 | $ 964,052,000 |
Remaining performance obligations, weighted average average period | 1 year 4 months 24 days | 1 year 7 months 6 days |
Cost of services, selling and_3
Cost of services, selling and administrative (Details) - CAD ($) $ in Thousands | 12 Months Ended | |
Sep. 30, 2020 | Sep. 30, 2019 | |
Analysis of income and expense [abstract] | ||
Salaries and other member costs | $ 7,264,839 | $ 7,158,588 |
Professional fees and other contracted labour | 1,355,065 | 1,439,915 |
Hardware, software and data center related costs | 800,496 | 873,158 |
Property costs | 259,306 | 363,812 |
Included in costs of services, selling and administrative (Note 23) | 556,061 | 388,087 |
Other operating expenses | 66,301 | 60,447 |
Costs of services, selling and administrative | 10,302,068 | 10,284,007 |
Research and development expense | $ 160,335 | $ 171,389 |
Amortization, depreciation an_3
Amortization, depreciation and impairment (Details) - CAD ($) | 12 Months Ended | |
Sep. 30, 2020 | Sep. 30, 2019 | |
Disclosure of impairment loss and reversal of impairment loss [line items] | ||
Included in costs of services, selling and administrative (Note 23) | $ 565,692,000 | $ 392,301,000 |
Amortization of contract costs related to incentives (presented as a reduction of revenue) | 2,535,000 | 2,919,000 |
Amortization of deferred financing fees (presented in finance costs) | 890,000 | 1,012,000 |
Amortization of premiums and discounts on investments related to funds held for clients (presented net as a reduction of revenue) | 79,000 | 283,000 |
Impairment (Note 24) | 1,035,000 | 0 |
Impairment of right-of-use assets (presented in restructuring costs) (Note 7 and 25) | 5,092,000 | 0 |
Amortization, depreciation and impairment | 565,692,000 | 392,301,000 |
Costs of services, selling and administrative | ||
Disclosure of impairment loss and reversal of impairment loss [line items] | ||
Depreciation of PP&E (Note 6) | 156,590,000 | 159,264,000 |
Depreciation of right-of-use assets (Note 7) | 168,239,000 | 0 |
Impairment of right-of-use assets (Note 7) | 3,269,000 | 0 |
Amortization of contract costs related to transition costs | 55,905,000 | 64,263,000 |
Impairment of contract costs related to transition costs | 4,047,000 | 0 |
Amortization of intangible assets (Note 9) | 157,378,000 | 164,560,000 |
Impairment of intangible assets (Note 9) | 10,633,000 | 0 |
Included in costs of services, selling and administrative (Note 23) | 556,061,000 | 388,087,000 |
Amortization, depreciation and impairment | $ 556,061,000 | $ 388,087,000 |
Restructuring costs (Details)
Restructuring costs (Details) - CAD ($) | 12 Months Ended | |
Sep. 30, 2020 | Sep. 30, 2019 | |
Disclosure of detailed information about property, plant and equipment [line items] | ||
Restructuring costs | $ 155,411,000 | $ 0 |
Termination of employment costs | 144,202,000 | |
Impairment loss from PP&E | 1,035,000 | 0 |
Impairment of right of use assets | 5,092,000 | $ 0 |
Other restructuring costs | 5,082,000 | |
Accumulated depreciation | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Impairment loss from PP&E | $ 1,035,000 |
Net finance costs (Details)
Net finance costs (Details) - CAD ($) | 12 Months Ended | |
Sep. 30, 2020 | Sep. 30, 2019 | |
Analysis of income and expense [abstract] | ||
Interest on long-term debt | $ 75,667,000 | $ 63,312,000 |
Interest on lease liabilities (Note 3) | 33,017,000 | 0 |
Net interest costs on net defined benefit obligations or assets (Note 17) | 1,876,000 | 3,813,000 |
Other finance costs | 9,029,000 | 15,071,000 |
Finance costs | 119,589,000 | 82,196,000 |
Finance income | (5,115,000) | (11,566,000) |
Net finance costs | $ 114,474,000 | $ 70,630,000 |
Investments in subsidiaries - N
Investments in subsidiaries - Narrative (Details) - CAD ($) | 12 Months Ended | ||||||||
Sep. 30, 2020 | Sep. 30, 2019 | Mar. 31, 2020 | Jan. 20, 2020 | Dec. 18, 2019 | Oct. 11, 2019 | May 14, 2019 | Apr. 16, 2019 | Mar. 31, 2019 | |
Disclosure of detailed information about business combination [line items] | |||||||||
Identifiable assets acquired (liabilities assumed) | $ 281,497,000 | $ 663,502,000 | |||||||
Revenue of acquiree since acquisition date | 250,000,000 | ||||||||
Cash consideration | 281,497,000 | 637,482,000 | |||||||
Expenses for acquisition-related and integration costs | 76,794,000 | 77,417,000 | |||||||
Acquisition-related costs | 6,545,000 | 1,992,000 | |||||||
Integration costs | 70,249,000 | 75,425,000 | |||||||
Termination of employment costs | 49,390,000 | 56,268,000 | |||||||
Other integration costs | 20,859,000 | 19,157,000 | |||||||
SCISYS Group Plc | |||||||||
Disclosure of detailed information about business combination [line items] | |||||||||
Identifiable assets acquired (liabilities assumed) | 130,260,000 | $ 130,260,000 | |||||||
Cash consideration | 130,260,000 | ||||||||
Meti Logiciels et Services SAS | |||||||||
Disclosure of detailed information about business combination [line items] | |||||||||
Identifiable assets acquired (liabilities assumed) | $ 43,404,000 | ||||||||
TeraThink | |||||||||
Disclosure of detailed information about business combination [line items] | |||||||||
Identifiable assets acquired (liabilities assumed) | 99,388,000 | $ 99,388,000 | |||||||
Cash consideration | $ 99,388,000 | ||||||||
Acando | |||||||||
Disclosure of detailed information about business combination [line items] | |||||||||
Identifiable assets acquired (liabilities assumed) | $ 623,770,000 | ||||||||
Percentage of voting equity interests acquired | 96.10% | 3.90% | 2.40% | 71.10% | 22.60% | ||||
Cash consideration | $ 599,744,000 | $ 23,123,000 | |||||||
Major business combination | Acando | |||||||||
Disclosure of detailed information about business combination [line items] | |||||||||
Percentage of voting equity interests acquired | 3.90% | ||||||||
Minimum | |||||||||
Disclosure of detailed information about business combination [line items] | |||||||||
Earnings before acquisition related and integration costs, and income taxes | 6.00% | ||||||||
Maximum | |||||||||
Disclosure of detailed information about business combination [line items] | |||||||||
Earnings before acquisition related and integration costs, and income taxes | 10.50% |
Investments in subsidiaries - A
Investments in subsidiaries - Assets acquired and liabilities assumed (Details) - CAD ($) | Sep. 30, 2020 | Mar. 31, 2020 | Dec. 18, 2019 | Oct. 11, 2019 | Sep. 30, 2019 |
Disclosure of detailed information about borrowings [line items] | |||||
Current assets | $ 55,683,000 | $ 119,972,000 | |||
PP&E (Note 6) | 18,900,000 | 7,675,000 | |||
Right-of-use assets (Note 7) | 11,859,000 | ||||
Intangible assets (Note 9) | 46,523,000 | 112,744,000 | |||
Goodwill | 269,037,000 | 587,837,000 | |||
Current liabilities | (96,578,000) | (133,481,000) | |||
Deferred tax liabilities | (4,537,000) | (27,290,000) | |||
Retirement benefits obligations (Note 17) | (1,068,000) | (7,994,000) | |||
Long-term debt | (20,734,000) | (9,828,000) | |||
Lease liabilities | (13,592,000) | ||||
Identifiable assets acquired, net, excluding cash and cash equivalents | 265,493,000 | 649,635,000 | |||
Cash acquired | 16,004,000 | 13,867,000 | |||
Net assets acquired | 281,497,000 | 663,502,000 | |||
Consideration paid | 281,497,000 | 637,482,000 | |||
Consideration payable | 26,020,000 | ||||
Western and Southern Europe | |||||
Disclosure of detailed information about borrowings [line items] | |||||
Goodwill | 32,272,000 | ||||
Canada | |||||
Disclosure of detailed information about borrowings [line items] | |||||
Goodwill | 5,411,000 | ||||
U.S. Federal | |||||
Disclosure of detailed information about borrowings [line items] | |||||
Goodwill | 86,642,000 | 13,955,000 | |||
U.K. and Australia | |||||
Disclosure of detailed information about borrowings [line items] | |||||
Goodwill | 53,170,000 | ||||
Scandinavia | |||||
Disclosure of detailed information about borrowings [line items] | |||||
Goodwill | 465,209,000 | ||||
Central and Eastern Europe | |||||
Disclosure of detailed information about borrowings [line items] | |||||
Goodwill | 91,542,000 | 90,943,000 | |||
Finland, Poland and Baltics | |||||
Disclosure of detailed information about borrowings [line items] | |||||
Goodwill | 17,730,000 | ||||
SCISYS Group Plc | |||||
Disclosure of detailed information about borrowings [line items] | |||||
Current assets | 28,461,000 | ||||
PP&E (Note 6) | 16,893,000 | ||||
Right-of-use assets (Note 7) | 3,362,000 | ||||
Intangible assets (Note 9) | 16,837,000 | ||||
Goodwill | 144,712,000 | ||||
Current liabilities | (68,254,000) | ||||
Deferred tax liabilities | (3,030,000) | ||||
Retirement benefits obligations (Note 17) | 0 | ||||
Long-term debt | (10,880,000) | ||||
Lease liabilities | (4,336,000) | ||||
Identifiable assets acquired, net, excluding cash and cash equivalents | 123,765,000 | ||||
Cash acquired | 6,495,000 | ||||
Net assets acquired | 130,260,000 | $ 130,260,000 | |||
Consideration paid | 130,260,000 | ||||
TeraThink | |||||
Disclosure of detailed information about borrowings [line items] | |||||
Current assets | 14,227,000 | ||||
PP&E (Note 6) | 1,369,000 | ||||
Right-of-use assets (Note 7) | 4,228,000 | ||||
Intangible assets (Note 9) | 19,025,000 | ||||
Goodwill | 86,642,000 | ||||
Current liabilities | (13,910,000) | ||||
Deferred tax liabilities | 0 | ||||
Retirement benefits obligations (Note 17) | 0 | ||||
Long-term debt | (9,732,000) | ||||
Lease liabilities | (4,935,000) | ||||
Identifiable assets acquired, net, excluding cash and cash equivalents | 96,914,000 | ||||
Cash acquired | 2,474,000 | ||||
Net assets acquired | 99,388,000 | $ 99,388,000 | |||
Consideration paid | 99,388,000 | ||||
Acando | |||||
Disclosure of detailed information about borrowings [line items] | |||||
Current assets | 105,298,000 | ||||
PP&E (Note 6) | 6,404,000 | ||||
Intangible assets (Note 9) | 102,889,000 | ||||
Goodwill | 555,921,000 | ||||
Current liabilities | (120,746,000) | ||||
Deferred tax liabilities | (25,966,000) | ||||
Retirement benefits obligations (Note 17) | (6,550,000) | ||||
Long-term debt | (9,828,000) | ||||
Identifiable assets acquired, net, excluding cash and cash equivalents | 607,422,000 | ||||
Cash acquired | 16,348,000 | ||||
Net assets acquired | 623,770,000 | ||||
Consideration paid | $ 23,123,000 | 599,744,000 | |||
Consideration payable | 24,026,000 | ||||
Other | |||||
Disclosure of detailed information about borrowings [line items] | |||||
Current assets | 12,995,000 | 14,674,000 | |||
PP&E (Note 6) | 638,000 | 1,271,000 | |||
Right-of-use assets (Note 7) | 4,269,000 | ||||
Intangible assets (Note 9) | 10,661,000 | 9,855,000 | |||
Goodwill | 37,683,000 | 31,916,000 | |||
Current liabilities | (14,414,000) | (12,735,000) | |||
Deferred tax liabilities | (1,507,000) | (1,324,000) | |||
Retirement benefits obligations (Note 17) | (1,068,000) | (1,444,000) | |||
Long-term debt | (122,000) | 0 | |||
Lease liabilities | (4,321,000) | ||||
Identifiable assets acquired, net, excluding cash and cash equivalents | 44,814,000 | 42,213,000 | |||
Cash acquired | 7,035,000 | (2,481,000) | |||
Net assets acquired | 51,849,000 | 39,732,000 | |||
Consideration paid | $ 51,849,000 | 37,738,000 | |||
Consideration payable | $ 1,994,000 |
Supplementary cash flow infor_3
Supplementary cash flow information - Non-cash working capital (Details) - CAD ($) $ in Thousands | 12 Months Ended | |
Sep. 30, 2020 | Sep. 30, 2019 | |
Cash Flow Statement [Abstract] | ||
Accounts receivable | $ 225,441 | $ 205,549 |
Work in progress | 79,809 | (161,031) |
Prepaid expenses and other assets | 21,342 | (22,238) |
Long-term financial assets | (12,081) | (3,547) |
Accounts payable and accrued liabilities | (106,828) | (54,822) |
Accrued compensation | (17,472) | 13,112 |
Deferred revenue | (48,264) | (22,659) |
Provisions | 76,671 | 737 |
Long-term liabilities | 59,822 | 19,353 |
Retirement benefits obligations | (4,022) | (2,814) |
Derivative financial instruments | 373 | (271) |
Income taxes | (56,627) | (27,620) |
Net change in non-cash working capital items | $ 218,164 | $ (56,251) |
Supplementary cash flow infor_4
Supplementary cash flow information - Non-cash operating and investing activities (Details) - CAD ($) $ in Thousands | 12 Months Ended | |
Sep. 30, 2020 | Sep. 30, 2019 | |
Cash flows from (used in) operating activities [abstract] | ||
Accounts payable and accrued liabilities | $ 4,788 | $ 14,573 |
Provisions | 690 | 2,512 |
Non-cash operating activities | 5,478 | 17,085 |
Cash flows from (used in) investing activities [abstract] | ||
Purchase of PP&E | (4,698) | (14,913) |
Additions, disposals/retirements and change in estimates and lease modifications of right-of-use assets (New obligations under finance leases for 2019) | (102,584) | 0 |
Additions to intangible assets | (780) | (14,267) |
Non-cash investing activities | $ (108,062) | $ (29,180) |
Supplementary cash flow infor_5
Supplementary cash flow information - Financing activities (Details) - CAD ($) $ in Thousands | 12 Months Ended | |
Sep. 30, 2020 | Sep. 30, 2019 | |
Cash used in financing activities excluding equity | ||
Net change in unsecured committed revolving credit facility | $ (334,370) | $ 139,575 |
Repayment of debt assumed in business acquisitions | (28,281) | (2,141) |
Settlement of derivative financial instruments | (3,903) | (554) |
Non-cash financing activities | ||
Additions, disposals/retirements and change in estimates and lease modifications of right-of-use assets (New obligations under finance leases for 2019) | (102,584) | 0 |
Long-term debt | ||
Financing activities | ||
Balance, beginning of year | 2,331,207 | 1,800,893 |
Cash used in financing activities excluding equity | ||
Net change in unsecured committed revolving credit facility | (334,370) | 139,575 |
Increase of long-term debt | 1,807,167 | 686,810 |
Repayment of long-term debt and lease liabilities | (106,496) | (355,406) |
Repayment of debt assumed in business acquisitions | (28,281) | (2,141) |
Settlement of derivative financial instruments | 0 | 0 |
Non-cash financing activities | ||
Additions, disposals/retirements and change in estimates and lease modifications of right-of-use assets (New obligations under finance leases for 2019) | 0 | 12,095 |
Additions through business acquisitions (Note 27) | 19,333 | 9,828 |
Changes in foreign currency exchange rates | (77,126) | 25,304 |
Other | 6,000 | 14,249 |
Balance, end of year | 3,587,095 | 2,331,207 |
Derivative financial instruments to hedge long-term debt | ||
Financing activities | ||
Balance, beginning of year | (29,894) | 43,217 |
Cash used in financing activities excluding equity | ||
Net change in unsecured committed revolving credit facility | 0 | 0 |
Increase of long-term debt | 0 | 0 |
Repayment of long-term debt and lease liabilities | 0 | 0 |
Repayment of debt assumed in business acquisitions | 0 | 0 |
Settlement of derivative financial instruments | (3,903) | (554) |
Non-cash financing activities | ||
Additions, disposals/retirements and change in estimates and lease modifications of right-of-use assets (New obligations under finance leases for 2019) | 0 | 0 |
Additions through business acquisitions (Note 27) | 0 | 0 |
Changes in foreign currency exchange rates | 66,031 | (72,557) |
Other | 0 | 0 |
Balance, end of year | 32,234 | (29,894) |
Lease liabilities | ||
Financing activities | ||
Balance, beginning of year | 0 | |
Cash used in financing activities excluding equity | ||
Net change in unsecured committed revolving credit facility | 0 | |
Increase of long-term debt | 0 | |
Repayment of long-term debt and lease liabilities | (175,320) | |
Repayment of debt assumed in business acquisitions | 0 | |
Settlement of derivative financial instruments | 0 | |
Non-cash financing activities | ||
Additions, disposals/retirements and change in estimates and lease modifications of right-of-use assets (New obligations under finance leases for 2019) | 102,584 | |
Additions through business acquisitions (Note 27) | 13,592 | |
Changes in foreign currency exchange rates | 31,766 | |
Other | (7,777) | |
Balance, end of year | $ 876,370 | $ 0 |
Supplementary cash flow infor_6
Supplementary cash flow information - Interest and income taxes paid and received (Details) - CAD ($) $ in Thousands | 12 Months Ended | |
Sep. 30, 2020 | Sep. 30, 2019 | |
Cash Flow Statement [Abstract] | ||
Interest paid | $ 180,453 | $ 102,108 |
Interest received | 5,116 | 3,080 |
Income taxes paid | $ 390,867 | $ 386,953 |
Segmented information - Disclos
Segmented information - Disclosure of operating segment information (Details) - CAD ($) | 12 Months Ended | |
Sep. 30, 2020 | Sep. 30, 2019 | |
Disclosure of operating segments [line items] | ||
Segment revenue | $ 12,164,115,000 | $ 12,111,236,000 |
Segment earnings before acquisition-related and integration costs, restructuring costs, net finance costs and income tax expense1 | 1,862,946,000 | |
Segment earnings before acquisition-related and integration costs, net finance costs and income tax expense1 | 1,824,995,000 | |
Acquisition-related and integration costs | 76,794,000 | 77,417,000 |
Restructuring costs | (155,411,000) | 0 |
Net finance costs | (114,474,000) | (70,630,000) |
Earnings before income taxes | 1,516,267,000 | 1,676,948,000 |
Amortization and depreciation, without amortization of deferred financing fees | 558,675,000 | 391,289,000 |
Impairment included in amortisation from business solutions and contract costs | 14,680,000 | |
Western and Southern Europe | ||
Disclosure of operating segments [line items] | ||
Segment revenue | 1,911,477,000 | 2,022,677,000 |
Segment earnings before acquisition-related and integration costs, restructuring costs, net finance costs and income tax expense1 | 264,009,000 | |
Segment earnings before acquisition-related and integration costs, net finance costs and income tax expense1 | 275,535,000 | |
Amortization and depreciation, without amortization of deferred financing fees | 64,084,000 | 42,558,000 |
U.S. Commercial and State Government | ||
Disclosure of operating segments [line items] | ||
Segment revenue | 1,863,467,000 | 1,834,917,000 |
Segment earnings before acquisition-related and integration costs, restructuring costs, net finance costs and income tax expense1 | 295,795,000 | |
Segment earnings before acquisition-related and integration costs, net finance costs and income tax expense1 | 333,210,000 | |
Amortization and depreciation, without amortization of deferred financing fees | 89,150,000 | 73,647,000 |
Impairment included in amortisation from business solutions and contract costs | 3,396,000 | |
Canada | ||
Disclosure of operating segments [line items] | ||
Segment revenue | 1,686,269,000 | 1,768,924,000 |
Segment earnings before acquisition-related and integration costs, restructuring costs, net finance costs and income tax expense1 | 364,424,000 | |
Segment earnings before acquisition-related and integration costs, net finance costs and income tax expense1 | 359,089,000 | |
Amortization and depreciation, without amortization of deferred financing fees | 69,921,000 | 62,486,000 |
Impairment included in amortisation from business solutions and contract costs | 3,589,000 | |
U.S. Federal | ||
Disclosure of operating segments [line items] | ||
Segment revenue | 1,712,244,000 | 1,597,922,000 |
Segment earnings before acquisition-related and integration costs, restructuring costs, net finance costs and income tax expense1 | 221,793,000 | |
Segment earnings before acquisition-related and integration costs, net finance costs and income tax expense1 | 230,054,000 | |
Amortization and depreciation, without amortization of deferred financing fees | 47,443,000 | 27,433,000 |
U.K. and Australia | ||
Disclosure of operating segments [line items] | ||
Segment revenue | 1,358,469,000 | 1,356,858,000 |
Segment earnings before acquisition-related and integration costs, restructuring costs, net finance costs and income tax expense1 | 215,924,000 | |
Segment earnings before acquisition-related and integration costs, net finance costs and income tax expense1 | 185,290,000 | |
Amortization and depreciation, without amortization of deferred financing fees | 68,346,000 | 67,110,000 |
Central and Eastern Europe | ||
Disclosure of operating segments [line items] | ||
Segment revenue | 1,212,196,000 | 1,166,486,000 |
Segment earnings before acquisition-related and integration costs, restructuring costs, net finance costs and income tax expense1 | 122,548,000 | |
Segment earnings before acquisition-related and integration costs, net finance costs and income tax expense1 | 100,244,000 | |
Amortization and depreciation, without amortization of deferred financing fees | 84,592,000 | 37,314,000 |
Scandinavia | ||
Disclosure of operating segments [line items] | ||
Segment revenue | 1,104,121,000 | 1,095,330,000 |
Segment earnings before acquisition-related and integration costs, restructuring costs, net finance costs and income tax expense1 | 57,231,000 | |
Segment earnings before acquisition-related and integration costs, net finance costs and income tax expense1 | 76,648,000 | |
Amortization and depreciation, without amortization of deferred financing fees | 71,590,000 | 26,534,000 |
Finland, Poland and Baltics | ||
Disclosure of operating segments [line items] | ||
Segment revenue | 777,152,000 | 787,640,000 |
Segment earnings before acquisition-related and integration costs, restructuring costs, net finance costs and income tax expense1 | 120,959,000 | |
Segment earnings before acquisition-related and integration costs, net finance costs and income tax expense1 | 118,771,000 | |
Amortization and depreciation, without amortization of deferred financing fees | 39,055,000 | 38,968,000 |
Impairment included in amortisation from business solutions and contract costs | 4,065,000 | |
Asia Pacific | ||
Disclosure of operating segments [line items] | ||
Segment revenue | 674,946,000 | 606,252,000 |
Segment earnings before acquisition-related and integration costs, restructuring costs, net finance costs and income tax expense1 | 200,263,000 | |
Segment earnings before acquisition-related and integration costs, net finance costs and income tax expense1 | 146,154,000 | |
Amortization and depreciation, without amortization of deferred financing fees | 24,494,000 | 15,239,000 |
Eliminations | ||
Disclosure of operating segments [line items] | ||
Segment revenue | (136,226,000) | (125,770,000) |
Segment earnings before acquisition-related and integration costs, restructuring costs, net finance costs and income tax expense1 | $ 0 | |
Segment earnings before acquisition-related and integration costs, net finance costs and income tax expense1 | $ 0 |
Segmented information - Discl_2
Segmented information - Disclosure of geographic information (Details) - CAD ($) | 12 Months Ended | |
Sep. 30, 2020 | Sep. 30, 2019 | |
Disclosure of geographical areas [line items] | ||
Revenue | $ 12,164,115,000 | $ 12,111,236,000 |
U.S. | ||
Disclosure of geographical areas [line items] | ||
Revenue | 3,637,070,000 | 3,474,418,000 |
Western and Southern Europe | ||
Disclosure of geographical areas [line items] | ||
Revenue | 1,911,408,000 | 2,026,113,000 |
Revenue | 1,911,477,000 | 2,022,677,000 |
Western and Southern Europe | France | ||
Disclosure of geographical areas [line items] | ||
Revenue | 1,672,355,000 | 1,761,861,000 |
Western and Southern Europe | Others | ||
Disclosure of geographical areas [line items] | ||
Revenue | 239,053,000 | 264,252,000 |
Canada | ||
Disclosure of geographical areas [line items] | ||
Revenue | 1,820,265,000 | 1,881,364,000 |
Revenue | 1,686,269,000 | 1,768,924,000 |
U.K. and Australia | ||
Disclosure of geographical areas [line items] | ||
Revenue | 1,572,427,000 | 1,555,895,000 |
Revenue | 1,358,469,000 | 1,356,858,000 |
U.K. and Australia | U.K. | ||
Disclosure of geographical areas [line items] | ||
Revenue | 1,508,719,000 | 1,480,627,000 |
U.K. and Australia | Australia | ||
Disclosure of geographical areas [line items] | ||
Revenue | 63,708,000 | 75,268,000 |
Central and Eastern Europe | ||
Disclosure of geographical areas [line items] | ||
Revenue | 1,252,043,000 | 1,193,617,000 |
Revenue | 1,212,196,000 | 1,166,486,000 |
Central and Eastern Europe | Others | ||
Disclosure of geographical areas [line items] | ||
Revenue | 68,537,000 | 74,271,000 |
Central and Eastern Europe | Germany | ||
Disclosure of geographical areas [line items] | ||
Revenue | 718,166,000 | 655,713,000 |
Central and Eastern Europe | Netherlands | ||
Disclosure of geographical areas [line items] | ||
Revenue | 465,340,000 | 463,633,000 |
Scandinavia | ||
Disclosure of geographical areas [line items] | ||
Revenue | 1,158,393,000 | 1,151,666,000 |
Revenue | 1,104,121,000 | 1,095,330,000 |
Scandinavia | Others | ||
Disclosure of geographical areas [line items] | ||
Revenue | 322,711,000 | 297,101,000 |
Scandinavia | Sweden | ||
Disclosure of geographical areas [line items] | ||
Revenue | 835,682,000 | 854,565,000 |
Finland, Poland and Baltics | ||
Disclosure of geographical areas [line items] | ||
Revenue | 804,001,000 | 822,464,000 |
Revenue | 777,152,000 | 787,640,000 |
Finland, Poland and Baltics | Others | ||
Disclosure of geographical areas [line items] | ||
Revenue | 37,269,000 | 37,179,000 |
Finland, Poland and Baltics | Finland | ||
Disclosure of geographical areas [line items] | ||
Revenue | 766,732,000 | 785,285,000 |
Asia Pacific | ||
Disclosure of geographical areas [line items] | ||
Revenue | 8,508,000 | 5,699,000 |
Revenue | 674,946,000 | 606,252,000 |
Asia Pacific | Others | ||
Disclosure of geographical areas [line items] | ||
Revenue | 8,508,000 | 5,699,000 |
U.S. Commercial and State Government | ||
Disclosure of geographical areas [line items] | ||
Revenue | 1,863,467,000 | 1,834,917,000 |
U.S. Commercial and State Government | U.S. | ||
Disclosure of geographical areas [line items] | ||
Revenue | 1,902,661,000 | 1,853,154,000 |
U.S. Federal | ||
Disclosure of geographical areas [line items] | ||
Revenue | 1,712,244,000 | 1,597,922,000 |
U.S. Federal | U.S. | ||
Disclosure of geographical areas [line items] | ||
Revenue | $ 1,734,409,000 | $ 1,621,264,000 |
Segmented information - Discl_3
Segmented information - Disclosure of PP&E, contract costs and intangible assets (Details) - CAD ($) $ in Thousands | Sep. 30, 2020 | Sep. 30, 2019 |
Disclosure of operating segments [line items] | ||
PP&E, contract costs and intangible assets | $ 1,800,649 | $ 1,138,608 |
U.S. | ||
Disclosure of operating segments [line items] | ||
PP&E, contract costs and intangible assets | 487,698 | 367,415 |
Canada | ||
Disclosure of operating segments [line items] | ||
PP&E, contract costs and intangible assets | 412,469 | 292,291 |
U.K. | ||
Disclosure of operating segments [line items] | ||
PP&E, contract costs and intangible assets | 138,391 | 103,803 |
France | ||
Disclosure of operating segments [line items] | ||
PP&E, contract costs and intangible assets | 137,307 | 45,501 |
Sweden | ||
Disclosure of operating segments [line items] | ||
PP&E, contract costs and intangible assets | 162,506 | 125,987 |
Finland | ||
Disclosure of operating segments [line items] | ||
PP&E, contract costs and intangible assets | 93,948 | 46,828 |
Germany | ||
Disclosure of operating segments [line items] | ||
PP&E, contract costs and intangible assets | 107,809 | 47,800 |
Netherlands | ||
Disclosure of operating segments [line items] | ||
PP&E, contract costs and intangible assets | 64,551 | 22,187 |
Rest of the world | ||
Disclosure of operating segments [line items] | ||
PP&E, contract costs and intangible assets | $ 195,970 | $ 86,796 |
Segmented information - Discl_4
Segmented information - Disclosure of revenue information based on services provided by the Company (Details) - CAD ($) $ in Thousands | 12 Months Ended | |
Sep. 30, 2020 | Sep. 30, 2019 | |
Disclosure of products and services [line items] | ||
Revenue | $ 12,164,115 | $ 12,111,236 |
Systems integration and consulting | ||
Disclosure of products and services [line items] | ||
Revenue | 5,554,622 | 5,998,486 |
Management of IT and business functions | ||
Disclosure of products and services [line items] | ||
Revenue | $ 6,609,493 | $ 6,112,750 |
Segmented information - Narrati
Segmented information - Narrative (Details) - CAD ($) | 12 Months Ended | |
Sep. 30, 2020 | Sep. 30, 2019 | |
Disclosure of major customers [line items] | ||
Revenue | $ 12,164,115,000 | $ 12,111,236,000 |
U.S. Federal | ||
Disclosure of major customers [line items] | ||
Revenue | 1,712,244,000 | 1,597,922,000 |
U.S. Federal | Government | ||
Disclosure of major customers [line items] | ||
Revenue | $ 1,675,326,000 | $ 1,554,933,000 |
Percentage of revenues | 13.80% | 12.80% |
Related party transactions (Det
Related party transactions (Details) - CAD ($) $ in Thousands | 12 Months Ended | |
Sep. 30, 2020 | Sep. 30, 2019 | |
Related Party [Abstract] | ||
Short-term employee benefits | $ 14,462 | $ 22,185 |
Share-based payments | $ 22,122 | $ 23,991 |
Commitments, contingencies an_3
Commitments, contingencies and guarantees - Narrative (Details) | Sep. 30, 2020CAD ($) |
Other Provisions, Contingent Liabilities And Contingent Assets [Abstract] | |
Minimum payments due under long-term service and other agreements | $ 235,781,000 |
Commitments, contingencies an_4
Commitments, contingencies and guarantees - Disclosure of minimum payments under long-term service and other agreements (Details) | Sep. 30, 2020CAD ($) |
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | |
Minimum payments due under long-term service and other agreements | $ 235,781,000 |
Less than one year | |
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | |
Minimum payments due under long-term service and other agreements | 124,776,000 |
Between one and three years | |
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | |
Minimum payments due under long-term service and other agreements | 110,790,000 |
Between three and five years | |
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | |
Minimum payments due under long-term service and other agreements | $ 215,000 |
Commitments, contingencies an_5
Commitments, contingencies and guarantees - Guarantees (Details) | Sep. 30, 2020CAD ($) |
Disclosure of contingent liabilities [line items] | |
Letters of credit in addition to the letters of credit covered by the unsecured committed revolving credit facility | $ 76,795,000 |
Liability for refusal or failure to perform under bid and performance bonds | Guarantees | |
Disclosure of contingent liabilities [line items] | |
Maximum potential exposure if specified in agreement | $ 32,130,000 |
Financial instruments - Financi
Financial instruments - Financial liabilities included in long-term debt (Details) - CAD ($) $ in Thousands | Sep. 30, 2020 | Sep. 30, 2019 |
Disclosure of financial liabilities [line items] | ||
Financial liabilities | $ 6,947,475 | $ 4,473,019 |
Carrying amount | ||
Disclosure of financial liabilities [line items] | ||
Financial liabilities | 1,256,807 | 1,334,898 |
Fair value | ||
Disclosure of financial liabilities [line items] | ||
Financial liabilities | 1,341,168 | 1,407,344 |
Senior U.S. and euro unsecured notes | Carrying amount | ||
Disclosure of financial liabilities [line items] | ||
Financial liabilities | 1,211,965 | 1,256,554 |
Senior U.S. and euro unsecured notes | Fair value | ||
Disclosure of financial liabilities [line items] | ||
Financial liabilities | 1,297,632 | 1,330,809 |
Obligations under finance leases | Carrying amount | ||
Disclosure of financial liabilities [line items] | ||
Financial liabilities | 0 | 30,339 |
Obligations under finance leases | Fair value | ||
Disclosure of financial liabilities [line items] | ||
Financial liabilities | 0 | 29,792 |
Other long-term debt | Carrying amount | ||
Disclosure of financial liabilities [line items] | ||
Financial liabilities | 44,842 | 48,005 |
Other long-term debt | Fair value | ||
Disclosure of financial liabilities [line items] | ||
Financial liabilities | $ 43,536 | $ 46,743 |
Financial instruments - Narrati
Financial instruments - Narrative (Details) - CAD ($) | 12 Months Ended | |
Sep. 30, 2020 | Sep. 30, 2019 | |
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Borrowings | $ 3,587,095,000 | $ 2,331,207,000 |
Settlement of derivative financial instruments | 3,903,000 | 554,000 |
Cash and cash equivalents, funds held for clients, short-term investments and long-term investments | 2,457,248,000 | 616,428,000 |
Available credit facility | 1,490,301,000 | 1,155,369,000 |
Trade receivables | 904,887,000 | 979,728,000 |
Settled cross-currency swap agreements | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Notional amount | $ 69,300,000 | |
Interest rate risk | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Sensitivity analysis for types of market risk, reasonably possible change in risk variable, percent | 1.00% | |
Currency risk | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Sensitivity analysis for types of market risk, reasonably possible change in risk variable, percent | 10.00% | |
Senior U.S. unsecured notes | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Borrowings | $ 339,682,000 | $ 332,533,000 |
Senior U.S. Unsecured Notes and 2020 Term Loan [Member] | Currency risk | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Borrowings | 2,316,639,000 | |
Hedges of net investments in European operations | Currency risk | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Notional amount | 2,311,425,000 | |
At fair value | Settled cross-currency swap agreements | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Settlement of derivative financial instruments | 3,903,000 | |
At fair value | Senior U.S. unsecured notes | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Net unrealized gains on financial assets at fair value through other comprehensive income, net of accumulated income tax expense of $1,291 ($352 as at September 30, 2019) | 6,470,000 | |
Carrying amount | 2020 Term Loan | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Notional amount | $ 1,250,000,000 |
Financial instruments - Fair va
Financial instruments - Fair value of financial assets and liabilities (Details) - CAD ($) $ in Thousands | Sep. 30, 2020 | Oct. 01, 2019 | Sep. 30, 2019 |
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||
Financial assets | $ 15,550,358 | $ 13,313,568 | $ 12,621,746 |
Financial liabilities | 8,286,198 | $ 6,523,338 | 5,737,643 |
At fair value | FVTE | |||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||
Financial assets | 1,781,141 | 276,458 | |
At fair value | Derivative financial instruments designated as hedging instruments | |||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||
Financial assets | 57,205 | 101,684 | |
Financial assets | 172,555 | 214,774 | |
Financial liabilities | 64,950 | 23,224 | |
At fair value | Cash and cash equivalents | FVTE | Level 2 | |||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||
Financial assets | 1,707,985 | 213,831 | |
At fair value | Deferred compensation plan assets | FVTE | Level 1 | |||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||
Financial assets | 73,156 | 62,627 | |
At fair value | Short-term investments included in current financial assets | Derivative financial instruments designated as hedging instruments | Level 2 | |||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||
Financial assets | 1,473 | 9,889 | |
At fair value | Long-term bonds included in funds held for clients | Derivative financial instruments designated as hedging instruments | Level 2 | |||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||
Financial assets | 148,470 | 180,289 | |
At fair value | Long-term investments | Derivative financial instruments designated as hedging instruments | Level 2 | |||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||
Financial assets | 22,612 | 24,596 | |
Cross-currency swaps | At fair value | Derivative financial instruments designated as hedging instruments | Current derivative financial instruments | Level 2 | |||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||
Financial liabilities | 5,320 | 2,982 | |
Cross-currency swaps | At fair value | Derivative financial instruments designated as hedging instruments | Long-term derivative financial instruments | Level 2 | |||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||
Financial liabilities | 52,275 | 16,560 | |
Cross-currency swaps | At fair value | Current derivative financial instruments | Derivative financial instruments designated as hedging instruments | Level 2 | |||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||
Financial assets | 0 | 4,243 | |
Cross-currency swaps | At fair value | Long-term derivative financial instruments | Derivative financial instruments designated as hedging instruments | Level 2 | |||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||
Financial assets | 25,362 | 45,193 | |
Foreign currency forward contracts | At fair value | Derivative financial instruments designated as hedging instruments | Current derivative financial instruments | Level 2 | |||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||
Financial liabilities | 3,008 | 1,920 | |
Foreign currency forward contracts | At fair value | Derivative financial instruments designated as hedging instruments | Long-term derivative financial instruments | Level 2 | |||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||
Financial liabilities | 4,347 | 1,762 | |
Foreign currency forward contracts | At fair value | Current derivative financial instruments | Derivative financial instruments designated as hedging instruments | Level 2 | |||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||
Financial assets | 17,027 | 25,799 | |
Foreign currency forward contracts | At fair value | Long-term derivative financial instruments | Derivative financial instruments designated as hedging instruments | Level 2 | |||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||
Financial assets | 8,636 | 25,069 | |
Interest rate swaps | At fair value | Long-term derivative financial instruments | Derivative financial instruments designated as hedging instruments | Level 2 | |||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||
Financial assets | $ 6,180 | $ 1,380 |
Financial instruments - Interes
Financial instruments - Interest rate risk (Details) $ in Thousands, $ in Thousands | Sep. 30, 2020USD ($) | Sep. 30, 2020CAD ($) | Oct. 01, 2019CAD ($) | Sep. 30, 2019CAD ($) |
Disclosure of information about credit exposures designated as measured at fair value through profit or loss [line items] | ||||
Assets | $ 15,550,358 | $ 13,313,568 | $ 12,621,746 | |
Interest rate risk | ||||
Disclosure of information about credit exposures designated as measured at fair value through profit or loss [line items] | ||||
Receive Rate | 4.99% | 4.99% | ||
Interest rate swaps | Interest rate risk | ||||
Disclosure of information about credit exposures designated as measured at fair value through profit or loss [line items] | ||||
Notional amount | $ 250,000 | |||
Pay Rate | 3.26% | 3.26% | ||
Interest rate swaps | At fair value | Interest rate risk | ||||
Disclosure of information about credit exposures designated as measured at fair value through profit or loss [line items] | ||||
Assets | $ 6,180 | $ 1,380 |
Financial instruments - Currenc
Financial instruments - Currency risk (Details) € in Thousands, £ in Thousands, kr in Thousands, $ in Thousands | Sep. 30, 2020USD ($) | Sep. 30, 2020CAD ($) | Sep. 30, 2020EUR (€) | Sep. 30, 2020SEK (kr) | Sep. 30, 2020GBP (£) | Sep. 30, 2019CAD ($) |
Cross-currency swaps | ||||||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||||||
Hedges of net investments in European operations | $ (32,233) | $ 29,894 | ||||
Hedges of net investments in European operations | Cross-currency swaps in euro | ||||||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||||||
Hedges of net investments in European operations | 189 | 19,305 | ||||
Hedges of net investments in European operations | Cross-currency swaps in euro | Currency risk | ||||||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||||||
Receive Notional | 374,200 | |||||
Pay Notional | € | € 240,800 | |||||
Hedges of net investments in European operations | Cross-currency swap agreement between Canadian dollar to British pound | ||||||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||||||
Hedges of net investments in European operations | 8,977 | 12,511 | ||||
Hedges of net investments in European operations | Cross-currency swap agreement between Canadian dollar to British pound | Currency risk | ||||||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||||||
Receive Notional | 136,274 | |||||
Pay Notional | ÂŁ | ÂŁ 75,842 | |||||
Hedges of net investments in European operations | Cross-currency swaps in Swedish krona | ||||||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||||||
Hedges of net investments in European operations | 5,359 | 7,995 | ||||
Hedges of net investments in European operations | Cross-currency swaps in Swedish krona | Currency risk | ||||||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||||||
Receive Notional | 58,419 | |||||
Pay Notional | kr | kr 371,900 | |||||
Hedges of net investments in European operations and cash flow hedges on unsecured committed term loan credit facility | Cross-Currency Swap Agreement Between USD To Euro | ||||||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||||||
Hedges of net investments in European operations and cash flow hedges on unsecured committed term loan credit facility | $ (45,599) | (3,627) | ||||
Hedges of net investments in European operations and cash flow hedges on unsecured committed term loan credit facility | Cross-Currency Swap Agreement Between USD To Euro | Currency risk | ||||||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||||||
Receive Notional | $ 500,000,000 | |||||
Receive Rate | 1.00% | 1.00% | 1.00% | 1.00% | 1.00% | |
Pay Notional | € | € 443,381 | |||||
Cash flow hedges on Senior U.S. unsecured notes | USD 550,000 Cross-Currency Swaps To CAD, Net Investment Hedge In Euro | ||||||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||||||
Cash flow hedges of Senior U.S. unsecured notes | $ (1,159) | $ (6,290) | ||||
Cash flow hedges on Senior U.S. unsecured notes | USD 550,000 Cross-Currency Swaps To CAD, Net Investment Hedge In Euro | Currency risk | ||||||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||||||
Receive Notional | $ 420,000,000 | |||||
Pay Notional | $ 568,893 | |||||
Minimum | Hedges of net investments in European operations | Cross-currency swaps in euro | Currency risk | ||||||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||||||
Receive Rate | 3.40% | 3.40% | 3.40% | 3.40% | 3.40% | |
Pay rate | 2.10% | 2.10% | 2.10% | 2.10% | 2.10% | |
Minimum | Hedges of net investments in European operations | Cross-currency swap agreement between Canadian dollar to British pound | Currency risk | ||||||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||||||
Receive Rate | 3.57% | 3.57% | 3.57% | 3.57% | 3.57% | |
Pay rate | 2.67% | 2.67% | 2.67% | 2.67% | 2.67% | |
Minimum | Hedges of net investments in European operations | Cross-currency swaps in Swedish krona | Currency risk | ||||||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||||||
Receive Rate | 3.57% | 3.57% | 3.57% | 3.57% | 3.57% | |
Pay rate | 2.12% | 2.12% | 2.12% | 2.12% | 2.12% | |
Minimum | Hedges of net investments in European operations and cash flow hedges on unsecured committed term loan credit facility | Cross-Currency Swap Agreement Between USD To Euro | Currency risk | ||||||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||||||
Pay rate | 1.13% | 1.13% | 1.13% | 1.13% | 1.13% | |
Minimum | Cash flow hedges on Senior U.S. unsecured notes | USD 550,000 Cross-Currency Swaps To CAD, Net Investment Hedge In Euro | Currency risk | ||||||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||||||
Receive Rate | 3.74% | 3.74% | 3.74% | 3.74% | 3.74% | |
Pay rate | 3.40% | 3.40% | 3.40% | 3.40% | 3.40% | |
Maximum | Hedges of net investments in European operations | Cross-currency swaps in euro | Currency risk | ||||||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||||||
Receive Rate | 3.81% | 3.81% | 3.81% | 3.81% | 3.81% | |
Pay rate | 2.51% | 2.51% | 2.51% | 2.51% | 2.51% | |
Maximum | Hedges of net investments in European operations | Cross-currency swap agreement between Canadian dollar to British pound | Currency risk | ||||||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||||||
Receive Rate | 3.63% | 3.63% | 3.63% | 3.63% | 3.63% | |
Pay rate | 2.80% | 2.80% | 2.80% | 2.80% | 2.80% | |
Maximum | Hedges of net investments in European operations | Cross-currency swaps in Swedish krona | Currency risk | ||||||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||||||
Receive Rate | 3.68% | 3.68% | 3.68% | 3.68% | 3.68% | |
Pay rate | 2.18% | 2.18% | 2.18% | 2.18% | 2.18% | |
Maximum | Hedges of net investments in European operations and cash flow hedges on unsecured committed term loan credit facility | Cross-Currency Swap Agreement Between USD To Euro | Currency risk | ||||||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||||||
Pay rate | 1.17% | 1.17% | 1.17% | 1.17% | 1.17% | |
Maximum | Cash flow hedges on Senior U.S. unsecured notes | USD 550,000 Cross-Currency Swaps To CAD, Net Investment Hedge In Euro | Currency risk | ||||||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||||||
Receive Rate | 4.06% | 4.06% | 4.06% | 4.06% | 4.06% | |
Pay rate | 3.81% | 3.81% | 3.81% | 3.81% | 3.81% |
Financial instruments - Notiona
Financial instruments - Notional, average contract rates and maturities (Details) € in Thousands, £ in Thousands, kr in Thousands, $ in Thousands, $ in Thousands | Sep. 30, 2020USD ($) | Sep. 30, 2020CAD ($) | Sep. 30, 2020EUR (€) | Sep. 30, 2020SEK (kr) | Sep. 30, 2020GBP (£) | Sep. 30, 2019CAD ($) |
USD/INR | ||||||
Disclosure of detailed information about hedges [line items] | ||||||
Notional amount | $ 146,778 | |||||
USD/INR | Less than one year | ||||||
Disclosure of detailed information about hedges [line items] | ||||||
Average rate of hedging instrument | 7530.00% | 7530.00% | 7530.00% | 7530.00% | 7530.00% | |
USD/INR | More than one year | ||||||
Disclosure of detailed information about hedges [line items] | ||||||
Average rate of hedging instrument | 8089.00% | 8089.00% | 8089.00% | 8089.00% | 8089.00% | |
CAD/INR | ||||||
Disclosure of detailed information about hedges [line items] | ||||||
Notional amount | $ 2,488,942 | |||||
CAD/INR | Less than one year | ||||||
Disclosure of detailed information about hedges [line items] | ||||||
Average rate of hedging instrument | 5794.00% | 5794.00% | 5794.00% | 5794.00% | 5794.00% | |
CAD/INR | More than one year | ||||||
Disclosure of detailed information about hedges [line items] | ||||||
Average rate of hedging instrument | 6159.00% | 6159.00% | 6159.00% | 6159.00% | 6159.00% | |
EUR/INR | ||||||
Disclosure of detailed information about hedges [line items] | ||||||
Notional amount | € | € 107,190 | |||||
EUR/INR | Less than one year | ||||||
Disclosure of detailed information about hedges [line items] | ||||||
Average rate of hedging instrument | 9192.00% | 9192.00% | 9192.00% | 9192.00% | 9192.00% | |
EUR/INR | More than one year | ||||||
Disclosure of detailed information about hedges [line items] | ||||||
Average rate of hedging instrument | 9577.00% | 9577.00% | 9577.00% | 9577.00% | 9577.00% | |
GBP/INR | ||||||
Disclosure of detailed information about hedges [line items] | ||||||
Notional amount | ÂŁ | ÂŁ 86,833 | |||||
GBP/INR | Less than one year | ||||||
Disclosure of detailed information about hedges [line items] | ||||||
Average rate of hedging instrument | 10026.00% | 10026.00% | 10026.00% | 10026.00% | 10026.00% | |
GBP/INR | More than one year | ||||||
Disclosure of detailed information about hedges [line items] | ||||||
Average rate of hedging instrument | 10518.00% | 10518.00% | 10518.00% | 10518.00% | 10518.00% | |
SEK/INR | ||||||
Disclosure of detailed information about hedges [line items] | ||||||
Notional amount | kr | kr 248,637 | |||||
SEK/INR | Less than one year | ||||||
Disclosure of detailed information about hedges [line items] | ||||||
Average rate of hedging instrument | 861.00% | 861.00% | 861.00% | 861.00% | 861.00% | |
SEK/INR | More than one year | ||||||
Disclosure of detailed information about hedges [line items] | ||||||
Average rate of hedging instrument | 879.00% | 879.00% | 879.00% | 879.00% | 879.00% | |
EUR/GBP | ||||||
Disclosure of detailed information about hedges [line items] | ||||||
Notional amount | € | € 39,291 | |||||
EUR/GBP | Less than one year | ||||||
Disclosure of detailed information about hedges [line items] | ||||||
Average rate of hedging instrument | 90.00% | 90.00% | 90.00% | 90.00% | 90.00% | |
EUR/GBP | More than one year | ||||||
Disclosure of detailed information about hedges [line items] | ||||||
Average rate of hedging instrument | 90.00% | 90.00% | 90.00% | 90.00% | 90.00% | |
EUR/MAD | ||||||
Disclosure of detailed information about hedges [line items] | ||||||
Notional amount | € | € 47,010 | |||||
EUR/MAD | Less than one year | ||||||
Disclosure of detailed information about hedges [line items] | ||||||
Average rate of hedging instrument | 1160.00% | 1160.00% | 1160.00% | 1160.00% | 1160.00% | |
EUR/MAD | More than one year | ||||||
Disclosure of detailed information about hedges [line items] | ||||||
Average rate of hedging instrument | 1146.00% | 1146.00% | 1146.00% | 1146.00% | 1146.00% | |
EUR/CZK | ||||||
Disclosure of detailed information about hedges [line items] | ||||||
Notional amount | € | € 27,456 | |||||
EUR/CZK | Less than one year | ||||||
Disclosure of detailed information about hedges [line items] | ||||||
Average rate of hedging instrument | 2609.00% | 2609.00% | 2609.00% | 2609.00% | 2609.00% | |
EUR/CZK | More than one year | ||||||
Disclosure of detailed information about hedges [line items] | ||||||
Average rate of hedging instrument | 2669.00% | 2669.00% | 2669.00% | 2669.00% | 2669.00% | |
EUR/SEK | ||||||
Disclosure of detailed information about hedges [line items] | ||||||
Notional amount | € | € 30,773 | |||||
EUR/SEK | Less than one year | ||||||
Disclosure of detailed information about hedges [line items] | ||||||
Average rate of hedging instrument | 1045.00% | 1045.00% | 1045.00% | 1045.00% | 1045.00% | |
EUR/SEK | More than one year | ||||||
Disclosure of detailed information about hedges [line items] | ||||||
Average rate of hedging instrument | 1070.00% | 1070.00% | 1070.00% | 1070.00% | 1070.00% | |
Others | ||||||
Disclosure of detailed information about hedges [line items] | ||||||
Notional amount | $ 74,054 | |||||
At fair value | ||||||
Disclosure of detailed information about hedges [line items] | ||||||
Hedging instrument, assets | 18,308 | $ 47,186 | ||||
At fair value | USD/INR | ||||||
Disclosure of detailed information about hedges [line items] | ||||||
Hedging instrument, assets | 2,473 | 1,498 | ||||
At fair value | CAD/INR | ||||||
Disclosure of detailed information about hedges [line items] | ||||||
Hedging instrument, assets | 6,196 | 11,687 | ||||
At fair value | EUR/INR | ||||||
Disclosure of detailed information about hedges [line items] | ||||||
Hedging instrument, assets | 4,731 | 14,985 | ||||
At fair value | GBP/INR | ||||||
Disclosure of detailed information about hedges [line items] | ||||||
Hedging instrument, assets | 4,522 | 11,929 | ||||
At fair value | SEK/INR | ||||||
Disclosure of detailed information about hedges [line items] | ||||||
Hedging instrument, assets | 477 | 3,945 | ||||
At fair value | EUR/GBP | ||||||
Disclosure of detailed information about hedges [line items] | ||||||
Hedged item, liabilities | (1,210) | (311) | ||||
At fair value | EUR/MAD | ||||||
Disclosure of detailed information about hedges [line items] | ||||||
Hedging instrument, assets | 2,534 | 4,416 | ||||
At fair value | EUR/CZK | ||||||
Disclosure of detailed information about hedges [line items] | ||||||
Hedging instrument, assets | 243 | |||||
Hedged item, liabilities | (1,039) | |||||
At fair value | EUR/SEK | ||||||
Disclosure of detailed information about hedges [line items] | ||||||
Hedging instrument, assets | 120 | |||||
Hedged item, liabilities | (1,828) | |||||
At fair value | Others | ||||||
Disclosure of detailed information about hedges [line items] | ||||||
Hedging instrument, assets | $ 622 | |||||
Hedged item, liabilities | $ (496) |
Financial instruments - Sensiti
Financial instruments - Sensitivity analysis (Details) - Currency risk - CAD ($) $ in Thousands | 12 Months Ended | |
Sep. 30, 2020 | Sep. 30, 2019 | |
Sweden, Kronor | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Increase in net earnings | $ 317 | $ 875 |
Decrease in other comprehensive income (loss) | (11,047) | (7,724) |
United States of America, Dollars | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Increase in net earnings | 1,215 | 2,333 |
Decrease in other comprehensive income (loss) | (233,182) | (65,034) |
Euro Member Countries, Euro | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Increase in net earnings | 190 | 167 |
Decrease in other comprehensive income (loss) | (116,136) | (109,838) |
United Kingdom, Pounds | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Increase in net earnings | 931 | 2,166 |
Decrease in other comprehensive income (loss) | $ (29,080) | $ (24,736) |
Financial instruments - Contrac
Financial instruments - Contractual maturities (Details) - CAD ($) $ in Thousands | Sep. 30, 2020 | Oct. 01, 2019 | Sep. 30, 2019 |
Disclosure Of Maturity Analysis For Derivative And Non-Derivative Financial Liabilities [Line Items] | |||
Accounts payable and accrued liabilities | $ 1,025,963 | $ 1,100,858 | $ 1,108,895 |
Accrued compensation | 672,775 | 642,897 | |
Borrowings | 3,587,095 | 2,331,207 | |
Lease liabilities | $ 911,525 | ||
Clients’ funds obligations | 720,322 | 366,796 | |
Financial liabilities | 6,947,475 | 4,473,019 | |
Accounts payable and accrued liabilities, contractual cash flows | 1,025,963 | 1,108,895 | |
Accrued compensation, contractual cash flows | 672,775 | 642,897 | |
Clients' funds obligations, contractual cash flows | 720,322 | 366,796 | |
Financial liabilities, contractual cash flows | 7,224,958 | 4,687,953 | |
Senior U.S. and euro unsecured notes | |||
Disclosure Of Maturity Analysis For Derivative And Non-Derivative Financial Liabilities [Line Items] | |||
Borrowings | 1,211,965 | 1,256,554 | |
Borrowings, contractual cash flows | 1,325,791 | 1,425,138 | |
Unsecured committed revolving credit facility | |||
Disclosure Of Maturity Analysis For Derivative And Non-Derivative Financial Liabilities [Line Items] | |||
Borrowings | 334,370 | ||
Borrowings, contractual cash flows | 378,298 | ||
Unsecured committed term loan credit facilities | |||
Disclosure Of Maturity Analysis For Derivative And Non-Derivative Financial Liabilities [Line Items] | |||
Borrowings | 2,330,288 | 661,939 | |
Borrowings, contractual cash flows | 2,400,927 | 747,921 | |
Obligations under finance leases | |||
Disclosure Of Maturity Analysis For Derivative And Non-Derivative Financial Liabilities [Line Items] | |||
Borrowings | 14,295 | ||
Borrowings, contractual cash flows | 14,609 | ||
Obligations under finance leases | |||
Disclosure Of Maturity Analysis For Derivative And Non-Derivative Financial Liabilities [Line Items] | |||
Borrowings | 30,339 | ||
Lease liabilities | 876,370 | ||
Lease liabilities, undiscounted cash flows | 1,002,493 | ||
Borrowings, contractual cash flows | 31,245 | ||
Other long-term debt | |||
Disclosure Of Maturity Analysis For Derivative And Non-Derivative Financial Liabilities [Line Items] | |||
Borrowings | 44,842 | 33,710 | |
Borrowings, contractual cash flows | 45,221 | 34,181 | |
Cash flow hedges of future revenue | |||
Disclosure Of Maturity Analysis For Derivative And Non-Derivative Financial Liabilities [Line Items] | |||
Derivative financial liabilities | 6,694 | 3,682 | |
Derivative financial liabilities, contractual cash flows | 290,661 | 224,440 | |
Derivative financial assets, contractual cash flows | (299,279) | (228,672) | |
Cross-currency swaps | |||
Disclosure Of Maturity Analysis For Derivative And Non-Derivative Financial Liabilities [Line Items] | |||
Derivative financial liabilities | 57,595 | 19,542 | |
Derivative financial liabilities, contractual cash flows | 1,272,197 | 1,160,635 | |
Derivative financial assets, contractual cash flows | (1,232,774) | (1,218,430) | |
Non deliverable forwards | |||
Disclosure Of Maturity Analysis For Derivative And Non-Derivative Financial Liabilities [Line Items] | |||
Derivative financial liabilities | 661 | ||
Derivative financial liabilities, contractual cash flows | 661 | ||
Less than one year | |||
Disclosure Of Maturity Analysis For Derivative And Non-Derivative Financial Liabilities [Line Items] | |||
Accounts payable and accrued liabilities, contractual cash flows | 1,025,963 | 1,108,895 | |
Accrued compensation, contractual cash flows | 672,775 | 642,897 | |
Clients' funds obligations, contractual cash flows | 720,322 | 366,796 | |
Financial liabilities, contractual cash flows | 3,027,517 | 2,304,339 | |
Less than one year | Senior U.S. and euro unsecured notes | |||
Disclosure Of Maturity Analysis For Derivative And Non-Derivative Financial Liabilities [Line Items] | |||
Borrowings, contractual cash flows | 321,089 | 116,613 | |
Less than one year | Unsecured committed revolving credit facility | |||
Disclosure Of Maturity Analysis For Derivative And Non-Derivative Financial Liabilities [Line Items] | |||
Borrowings, contractual cash flows | 10,493 | ||
Less than one year | Unsecured committed term loan credit facilities | |||
Disclosure Of Maturity Analysis For Derivative And Non-Derivative Financial Liabilities [Line Items] | |||
Borrowings, contractual cash flows | 35,869 | 19,677 | |
Less than one year | Obligations under finance leases | |||
Disclosure Of Maturity Analysis For Derivative And Non-Derivative Financial Liabilities [Line Items] | |||
Borrowings, contractual cash flows | 10,938 | ||
Less than one year | Obligations under finance leases | |||
Disclosure Of Maturity Analysis For Derivative And Non-Derivative Financial Liabilities [Line Items] | |||
Lease liabilities, undiscounted cash flows | 207,617 | ||
Borrowings, contractual cash flows | 14,534 | ||
Less than one year | Other long-term debt | |||
Disclosure Of Maturity Analysis For Derivative And Non-Derivative Financial Liabilities [Line Items] | |||
Borrowings, contractual cash flows | 38,240 | 22,719 | |
Less than one year | Cash flow hedges of future revenue | |||
Disclosure Of Maturity Analysis For Derivative And Non-Derivative Financial Liabilities [Line Items] | |||
Derivative financial liabilities, contractual cash flows | 108,478 | 97,993 | |
Derivative financial assets, contractual cash flows | (107,621) | (97,250) | |
Less than one year | Cross-currency swaps | |||
Disclosure Of Maturity Analysis For Derivative And Non-Derivative Financial Liabilities [Line Items] | |||
Derivative financial liabilities, contractual cash flows | 315,839 | 91,857 | |
Derivative financial assets, contractual cash flows | (311,715) | (101,823) | |
Less than one year | Non deliverable forwards | |||
Disclosure Of Maturity Analysis For Derivative And Non-Derivative Financial Liabilities [Line Items] | |||
Derivative financial liabilities, contractual cash flows | 661 | ||
Between one and three years | |||
Disclosure Of Maturity Analysis For Derivative And Non-Derivative Financial Liabilities [Line Items] | |||
Accounts payable and accrued liabilities, contractual cash flows | 0 | 0 | |
Accrued compensation, contractual cash flows | 0 | 0 | |
Clients' funds obligations, contractual cash flows | 0 | 0 | |
Financial liabilities, contractual cash flows | 2,546,666 | 807,386 | |
Between one and three years | Senior U.S. and euro unsecured notes | |||
Disclosure Of Maturity Analysis For Derivative And Non-Derivative Financial Liabilities [Line Items] | |||
Borrowings, contractual cash flows | 519,605 | 738,987 | |
Between one and three years | Unsecured committed revolving credit facility | |||
Disclosure Of Maturity Analysis For Derivative And Non-Derivative Financial Liabilities [Line Items] | |||
Borrowings, contractual cash flows | 20,986 | ||
Between one and three years | Unsecured committed term loan credit facilities | |||
Disclosure Of Maturity Analysis For Derivative And Non-Derivative Financial Liabilities [Line Items] | |||
Borrowings, contractual cash flows | 1,696,940 | 40,804 | |
Between one and three years | Obligations under finance leases | |||
Disclosure Of Maturity Analysis For Derivative And Non-Derivative Financial Liabilities [Line Items] | |||
Borrowings, contractual cash flows | 3,558 | ||
Between one and three years | Obligations under finance leases | |||
Disclosure Of Maturity Analysis For Derivative And Non-Derivative Financial Liabilities [Line Items] | |||
Lease liabilities, undiscounted cash flows | 325,964 | ||
Borrowings, contractual cash flows | 16,172 | ||
Between one and three years | Other long-term debt | |||
Disclosure Of Maturity Analysis For Derivative And Non-Derivative Financial Liabilities [Line Items] | |||
Borrowings, contractual cash flows | 5,387 | 8,885 | |
Between one and three years | Cash flow hedges of future revenue | |||
Disclosure Of Maturity Analysis For Derivative And Non-Derivative Financial Liabilities [Line Items] | |||
Derivative financial liabilities, contractual cash flows | 163,183 | 126,447 | |
Derivative financial assets, contractual cash flows | (169,846) | (131,422) | |
Between one and three years | Cross-currency swaps | |||
Disclosure Of Maturity Analysis For Derivative And Non-Derivative Financial Liabilities [Line Items] | |||
Derivative financial liabilities, contractual cash flows | 168,458 | 250,763 | |
Derivative financial assets, contractual cash flows | (163,025) | (267,794) | |
Between one and three years | Non deliverable forwards | |||
Disclosure Of Maturity Analysis For Derivative And Non-Derivative Financial Liabilities [Line Items] | |||
Derivative financial liabilities, contractual cash flows | 0 | ||
Between three and five years | |||
Disclosure Of Maturity Analysis For Derivative And Non-Derivative Financial Liabilities [Line Items] | |||
Accounts payable and accrued liabilities, contractual cash flows | 0 | 0 | |
Accrued compensation, contractual cash flows | 0 | 0 | |
Clients' funds obligations, contractual cash flows | 0 | 0 | |
Financial liabilities, contractual cash flows | 1,411,727 | 1,575,637 | |
Between three and five years | Senior U.S. and euro unsecured notes | |||
Disclosure Of Maturity Analysis For Derivative And Non-Derivative Financial Liabilities [Line Items] | |||
Borrowings, contractual cash flows | 485,097 | 569,538 | |
Between three and five years | Unsecured committed revolving credit facility | |||
Disclosure Of Maturity Analysis For Derivative And Non-Derivative Financial Liabilities [Line Items] | |||
Borrowings, contractual cash flows | 346,819 | ||
Between three and five years | Unsecured committed term loan credit facilities | |||
Disclosure Of Maturity Analysis For Derivative And Non-Derivative Financial Liabilities [Line Items] | |||
Borrowings, contractual cash flows | 668,118 | 687,440 | |
Between three and five years | Obligations under finance leases | |||
Disclosure Of Maturity Analysis For Derivative And Non-Derivative Financial Liabilities [Line Items] | |||
Borrowings, contractual cash flows | 113 | ||
Between three and five years | Obligations under finance leases | |||
Disclosure Of Maturity Analysis For Derivative And Non-Derivative Financial Liabilities [Line Items] | |||
Lease liabilities, undiscounted cash flows | 229,871 | ||
Borrowings, contractual cash flows | 539 | ||
Between three and five years | Other long-term debt | |||
Disclosure Of Maturity Analysis For Derivative And Non-Derivative Financial Liabilities [Line Items] | |||
Borrowings, contractual cash flows | 1,587 | 1,986 | |
Between three and five years | Cash flow hedges of future revenue | |||
Disclosure Of Maturity Analysis For Derivative And Non-Derivative Financial Liabilities [Line Items] | |||
Derivative financial liabilities, contractual cash flows | 19,000 | 0 | |
Derivative financial assets, contractual cash flows | (21,812) | 0 | |
Between three and five years | Cross-currency swaps | |||
Disclosure Of Maturity Analysis For Derivative And Non-Derivative Financial Liabilities [Line Items] | |||
Derivative financial liabilities, contractual cash flows | 787,900 | 818,015 | |
Derivative financial assets, contractual cash flows | (758,034) | (848,813) | |
Between three and five years | Non deliverable forwards | |||
Disclosure Of Maturity Analysis For Derivative And Non-Derivative Financial Liabilities [Line Items] | |||
Derivative financial liabilities, contractual cash flows | 0 | ||
Beyond five years | |||
Disclosure Of Maturity Analysis For Derivative And Non-Derivative Financial Liabilities [Line Items] | |||
Accounts payable and accrued liabilities, contractual cash flows | 0 | 0 | |
Accrued compensation, contractual cash flows | 0 | 0 | |
Clients' funds obligations, contractual cash flows | 0 | 0 | |
Financial liabilities, contractual cash flows | 239,048 | 591 | |
Beyond five years | Senior U.S. and euro unsecured notes | |||
Disclosure Of Maturity Analysis For Derivative And Non-Derivative Financial Liabilities [Line Items] | |||
Borrowings, contractual cash flows | 0 | 0 | |
Beyond five years | Unsecured committed revolving credit facility | |||
Disclosure Of Maturity Analysis For Derivative And Non-Derivative Financial Liabilities [Line Items] | |||
Borrowings, contractual cash flows | 0 | ||
Beyond five years | Unsecured committed term loan credit facilities | |||
Disclosure Of Maturity Analysis For Derivative And Non-Derivative Financial Liabilities [Line Items] | |||
Borrowings, contractual cash flows | 0 | 0 | |
Beyond five years | Obligations under finance leases | |||
Disclosure Of Maturity Analysis For Derivative And Non-Derivative Financial Liabilities [Line Items] | |||
Borrowings, contractual cash flows | 0 | ||
Beyond five years | Obligations under finance leases | |||
Disclosure Of Maturity Analysis For Derivative And Non-Derivative Financial Liabilities [Line Items] | |||
Lease liabilities, undiscounted cash flows | 239,041 | ||
Borrowings, contractual cash flows | 0 | ||
Beyond five years | Other long-term debt | |||
Disclosure Of Maturity Analysis For Derivative And Non-Derivative Financial Liabilities [Line Items] | |||
Borrowings, contractual cash flows | 7 | 591 | |
Beyond five years | Cash flow hedges of future revenue | |||
Disclosure Of Maturity Analysis For Derivative And Non-Derivative Financial Liabilities [Line Items] | |||
Derivative financial liabilities, contractual cash flows | 0 | 0 | |
Derivative financial assets, contractual cash flows | 0 | 0 | |
Beyond five years | Cross-currency swaps | |||
Disclosure Of Maturity Analysis For Derivative And Non-Derivative Financial Liabilities [Line Items] | |||
Derivative financial liabilities, contractual cash flows | 0 | 0 | |
Derivative financial assets, contractual cash flows | 0 | $ 0 | |
Beyond five years | Non deliverable forwards | |||
Disclosure Of Maturity Analysis For Derivative And Non-Derivative Financial Liabilities [Line Items] | |||
Derivative financial liabilities, contractual cash flows | $ 0 |
Financial instruments - Credit
Financial instruments - Credit risk (Details) - Trade accounts receivable - CAD ($) $ in Thousands | Sep. 30, 2020 | Sep. 30, 2019 |
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | $ 904,887 | $ 979,728 |
Cost | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 910,154 | 984,202 |
Cost | Not past due | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 775,975 | 793,387 |
Cost | Past due 1-30 days | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 44,278 | 96,106 |
Cost | Past due 31-60 days | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 29,948 | 23,125 |
Cost | Past due 61-90 days | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 6,407 | 17,392 |
Cost | Past due more than 90 days | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 53,546 | 54,192 |
Allowance for doubtful accounts | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | $ (5,267) | $ (4,474) |
Capital risk management (Detail
Capital risk management (Details) - CAD ($) | Sep. 30, 2020 | Sep. 30, 2019 |
Corporate Information And Statement Of IFRS Compliance [Abstract] | ||
Total managed capital | $ 13,459,695,000 | $ 9,463,626,000 |
Uncategorized Items - gib-20200
Label | Element | Value |
Provisions | ifrs-full_Provisions | $ 92,468,000 |
Property, Plant And Equipment, Contract Costs, Intangible Assets And Other Long-Term Assets, Related Temporary Difference [Member] | ||
Deferred tax liability (asset) | ifrs-full_DeferredTaxLiabilityAsset | 123,147,000 |
Refundable Tax Credits On Salaries, Related Temporary Difference [Member] | ||
Deferred tax liability (asset) | ifrs-full_DeferredTaxLiabilityAsset | 25,819,000 |
Work In Progress, Related Temporary Difference [Member] | ||
Deferred tax liability (asset) | ifrs-full_DeferredTaxLiabilityAsset | 43,569,000 |
Accounts Payable And Accrued Liabilities, Provisions And Other Long-Term Liabilities, Related Temporary Difference [Member] | ||
Deferred tax liability (asset) | ifrs-full_DeferredTaxLiabilityAsset | (50,776,000) |
Tax Benefits On Losses Carried Forward, Related Temporary Difference [Member] | ||
Deferred tax liability (asset) | ifrs-full_DeferredTaxLiabilityAsset | (59,163,000) |
Right-of-use assets [member] | ||
Deferred tax liability (asset) | ifrs-full_DeferredTaxLiabilityAsset | 182,822,000 |
Goodwill, Related Temporary Difference [Member] | ||
Deferred tax liability (asset) | ifrs-full_DeferredTaxLiabilityAsset | 60,366,000 |
Lease liabilities [member] | ||
Deferred tax liability (asset) | ifrs-full_DeferredTaxLiabilityAsset | (231,562,000) |
Other temporary differences [member] | ||
Deferred tax liability (asset) | ifrs-full_DeferredTaxLiabilityAsset | 1,322,000 |
Retirement Benefits Obligations, Related Temporary Difference [Member] | ||
Deferred tax liability (asset) | ifrs-full_DeferredTaxLiabilityAsset | (17,904,000) |
Cash Flow Hedges, Related Temporary Difference [Member] | ||
Deferred tax liability (asset) | ifrs-full_DeferredTaxLiabilityAsset | 13,903,000 |
Accrued Compensation, Related Temporary Difference [Member] | ||
Deferred tax liability (asset) | ifrs-full_DeferredTaxLiabilityAsset | (45,407,000) |
Increase (decrease) due to changes in accounting policy required by IFRSs [member] | ||
Equity | ifrs-full_Equity | (93,873,000) |
Assets held to hedge liabilities arising from financing activities [member] | ||
Liabilities arising from financing activities | ifrs-full_LiabilitiesArisingFromFinancingActivities | (29,894,000) |
Long-term borrowings [member] | ||
Liabilities arising from financing activities | ifrs-full_LiabilitiesArisingFromFinancingActivities | 2,300,868,000 |
Lease liabilities [member] | ||
Liabilities arising from financing activities | ifrs-full_LiabilitiesArisingFromFinancingActivities | 911,525,000 |
In Accordance With IFRS 16 [Member] | ||
Provisions | ifrs-full_Provisions | (5,987,000) |
Deferred tax liability (asset) | ifrs-full_DeferredTaxLiabilityAsset | (31,590,000) |
In Accordance With IFRS 16 [Member] | Property, Plant And Equipment, Contract Costs, Intangible Assets And Other Long-Term Assets, Related Temporary Difference [Member] | ||
Deferred tax liability (asset) | ifrs-full_DeferredTaxLiabilityAsset | 0 |
In Accordance With IFRS 16 [Member] | Refundable Tax Credits On Salaries, Related Temporary Difference [Member] | ||
Deferred tax liability (asset) | ifrs-full_DeferredTaxLiabilityAsset | 0 |
In Accordance With IFRS 16 [Member] | Work In Progress, Related Temporary Difference [Member] | ||
Deferred tax liability (asset) | ifrs-full_DeferredTaxLiabilityAsset | 0 |
In Accordance With IFRS 16 [Member] | Accounts Payable And Accrued Liabilities, Provisions And Other Long-Term Liabilities, Related Temporary Difference [Member] | ||
Deferred tax liability (asset) | ifrs-full_DeferredTaxLiabilityAsset | 17,150,000 |
In Accordance With IFRS 16 [Member] | Tax Benefits On Losses Carried Forward, Related Temporary Difference [Member] | ||
Deferred tax liability (asset) | ifrs-full_DeferredTaxLiabilityAsset | 0 |
In Accordance With IFRS 16 [Member] | Right-of-use assets [member] | ||
Deferred tax liability (asset) | ifrs-full_DeferredTaxLiabilityAsset | 182,822,000 |
In Accordance With IFRS 16 [Member] | Goodwill, Related Temporary Difference [Member] | ||
Deferred tax liability (asset) | ifrs-full_DeferredTaxLiabilityAsset | 0 |
In Accordance With IFRS 16 [Member] | Lease liabilities [member] | ||
Deferred tax liability (asset) | ifrs-full_DeferredTaxLiabilityAsset | (231,562,000) |
In Accordance With IFRS 16 [Member] | Other temporary differences [member] | ||
Deferred tax liability (asset) | ifrs-full_DeferredTaxLiabilityAsset | 0 |
In Accordance With IFRS 16 [Member] | Retirement Benefits Obligations, Related Temporary Difference [Member] | ||
Deferred tax liability (asset) | ifrs-full_DeferredTaxLiabilityAsset | 0 |
In Accordance With IFRS 16 [Member] | Cash Flow Hedges, Related Temporary Difference [Member] | ||
Deferred tax liability (asset) | ifrs-full_DeferredTaxLiabilityAsset | 0 |
In Accordance With IFRS 16 [Member] | Accrued Compensation, Related Temporary Difference [Member] | ||
Deferred tax liability (asset) | ifrs-full_DeferredTaxLiabilityAsset | 0 |
In Accordance With IFRS 16 [Member] | Assets held to hedge liabilities arising from financing activities [member] | ||
Liabilities arising from financing activities | ifrs-full_LiabilitiesArisingFromFinancingActivities | 0 |
In Accordance With IFRS 16 [Member] | Long-term borrowings [member] | ||
Liabilities arising from financing activities | ifrs-full_LiabilitiesArisingFromFinancingActivities | (30,339,000) |
In Accordance With IFRS 16 [Member] | Lease liabilities [member] | ||
Liabilities arising from financing activities | ifrs-full_LiabilitiesArisingFromFinancingActivities | 911,525,000 |
Additional paid-in capital [member] | ||
Equity | ifrs-full_Equity | 245,577,000 |
Accumulated other comprehensive income [member] | ||
Equity | ifrs-full_Equity | 176,694,000 |
Retained earnings [member] | ||
Equity | ifrs-full_Equity | 4,463,982,000 |
Retained earnings [member] | Increase (decrease) due to changes in accounting policy required by IFRSs [member] | ||
Equity | ifrs-full_Equity | (93,873,000) |
Issued capital [member] | ||
Equity | ifrs-full_Equity | 1,903,977,000 |
Restructuring provision [member] | ||
Provisions | ifrs-full_Provisions | 39,212,000 |
Restructuring provision [member] | In Accordance With IFRS 16 [Member] | ||
Provisions | ifrs-full_Provisions | 0 |
Miscellaneous other provisions [member] | ||
Provisions | ifrs-full_Provisions | 27,432,000 |
Miscellaneous other provisions [member] | In Accordance With IFRS 16 [Member] | ||
Provisions | ifrs-full_Provisions | (5,987,000) |
Provision for decommissioning, restoration and rehabilitation costs [member] | ||
Provisions | ifrs-full_Provisions | 25,824,000 |
Provision for decommissioning, restoration and rehabilitation costs [member] | In Accordance With IFRS 16 [Member] | ||
Provisions | ifrs-full_Provisions | 0 |
Accumulated depreciation, amortisation and impairment [member] | ||
Right-of-use assets | ifrs-full_RightofuseAssets | (640,705,000) |
Property, plant and equipment | ifrs-full_PropertyPlantAndEquipment | (747,707,000) |
Accumulated depreciation, amortisation and impairment [member] | In Accordance With IFRS 16 [Member] | ||
Right-of-use assets | ifrs-full_RightofuseAssets | (640,705,000) |
Property, plant and equipment | ifrs-full_PropertyPlantAndEquipment | 33,072,000 |
Accumulated depreciation, amortisation and impairment [member] | Computer equipment [member] | ||
Property, plant and equipment | ifrs-full_PropertyPlantAndEquipment | (480,633,000) |
Accumulated depreciation, amortisation and impairment [member] | Computer equipment [member] | In Accordance With IFRS 16 [Member] | ||
Property, plant and equipment | ifrs-full_PropertyPlantAndEquipment | 24,787,000 |
Accumulated depreciation, amortisation and impairment [member] | Land and buildings [member] | ||
Property, plant and equipment | ifrs-full_PropertyPlantAndEquipment | (16,961,000) |
Accumulated depreciation, amortisation and impairment [member] | Land and buildings [member] | In Accordance With IFRS 16 [Member] | ||
Property, plant and equipment | ifrs-full_PropertyPlantAndEquipment | 0 |
Accumulated depreciation, amortisation and impairment [member] | Leasehold improvements [member] | ||
Property, plant and equipment | ifrs-full_PropertyPlantAndEquipment | (139,726,000) |
Accumulated depreciation, amortisation and impairment [member] | Leasehold improvements [member] | In Accordance With IFRS 16 [Member] | ||
Property, plant and equipment | ifrs-full_PropertyPlantAndEquipment | 0 |
Accumulated depreciation, amortisation and impairment [member] | Fixtures and fittings [member] | ||
Property, plant and equipment | ifrs-full_PropertyPlantAndEquipment | (110,387,000) |
Accumulated depreciation, amortisation and impairment [member] | Fixtures and fittings [member] | In Accordance With IFRS 16 [Member] | ||
Property, plant and equipment | ifrs-full_PropertyPlantAndEquipment | 8,285,000 |
Accumulated depreciation, amortisation and impairment [member] | Computer equipment [member] | ||
Right-of-use assets | ifrs-full_RightofuseAssets | (24,787,000) |
Accumulated depreciation, amortisation and impairment [member] | Computer equipment [member] | In Accordance With IFRS 16 [Member] | ||
Right-of-use assets | ifrs-full_RightofuseAssets | (24,787,000) |
Accumulated depreciation, amortisation and impairment [member] | Motor vehicles and others [Member] | ||
Right-of-use assets | ifrs-full_RightofuseAssets | (69,381,000) |
Accumulated depreciation, amortisation and impairment [member] | Motor vehicles and others [Member] | In Accordance With IFRS 16 [Member] | ||
Right-of-use assets | ifrs-full_RightofuseAssets | (69,381,000) |
Accumulated depreciation, amortisation and impairment [member] | Properties [Member] | ||
Right-of-use assets | ifrs-full_RightofuseAssets | (546,537,000) |
Accumulated depreciation, amortisation and impairment [member] | Properties [Member] | In Accordance With IFRS 16 [Member] | ||
Right-of-use assets | ifrs-full_RightofuseAssets | (546,537,000) |
Gross carrying amount [member] | ||
Right-of-use assets | ifrs-full_RightofuseAssets | 1,342,051,000 |
Property, plant and equipment | ifrs-full_PropertyPlantAndEquipment | 1,123,505,000 |
Gross carrying amount [member] | In Accordance With IFRS 16 [Member] | ||
Right-of-use assets | ifrs-full_RightofuseAssets | 1,342,051,000 |
Property, plant and equipment | ifrs-full_PropertyPlantAndEquipment | (54,935,000) |
Gross carrying amount [member] | Computer equipment [member] | ||
Property, plant and equipment | ifrs-full_PropertyPlantAndEquipment | 674,272,000 |
Gross carrying amount [member] | Computer equipment [member] | In Accordance With IFRS 16 [Member] | ||
Property, plant and equipment | ifrs-full_PropertyPlantAndEquipment | (40,357,000) |
Gross carrying amount [member] | Land and buildings [member] | ||
Property, plant and equipment | ifrs-full_PropertyPlantAndEquipment | 58,614,000 |
Gross carrying amount [member] | Land and buildings [member] | In Accordance With IFRS 16 [Member] | ||
Property, plant and equipment | ifrs-full_PropertyPlantAndEquipment | 0 |
Gross carrying amount [member] | Leasehold improvements [member] | ||
Property, plant and equipment | ifrs-full_PropertyPlantAndEquipment | 224,559,000 |
Gross carrying amount [member] | Leasehold improvements [member] | In Accordance With IFRS 16 [Member] | ||
Property, plant and equipment | ifrs-full_PropertyPlantAndEquipment | 0 |
Gross carrying amount [member] | Fixtures and fittings [member] | ||
Property, plant and equipment | ifrs-full_PropertyPlantAndEquipment | 166,060,000 |
Gross carrying amount [member] | Fixtures and fittings [member] | In Accordance With IFRS 16 [Member] | ||
Property, plant and equipment | ifrs-full_PropertyPlantAndEquipment | (14,578,000) |
Gross carrying amount [member] | Computer equipment [member] | ||
Right-of-use assets | ifrs-full_RightofuseAssets | 40,357,000 |
Gross carrying amount [member] | Computer equipment [member] | In Accordance With IFRS 16 [Member] | ||
Right-of-use assets | ifrs-full_RightofuseAssets | 40,357,000 |
Gross carrying amount [member] | Motor vehicles and others [Member] | ||
Right-of-use assets | ifrs-full_RightofuseAssets | 230,707,000 |
Gross carrying amount [member] | Motor vehicles and others [Member] | In Accordance With IFRS 16 [Member] | ||
Right-of-use assets | ifrs-full_RightofuseAssets | 230,707,000 |
Gross carrying amount [member] | Properties [Member] | ||
Right-of-use assets | ifrs-full_RightofuseAssets | 1,070,987,000 |
Gross carrying amount [member] | Properties [Member] | In Accordance With IFRS 16 [Member] | ||
Right-of-use assets | ifrs-full_RightofuseAssets | $ 1,070,987,000 |