Cover Page
Cover Page | 12 Months Ended |
Sep. 30, 2021shares | |
Entity Information [Line Items] | |
Document Type | 40-F |
Document Registration Statement | false |
Document Annual Report | true |
Document Period End Date | Sep. 30, 2021 |
Current Fiscal Year End Date | --09-30 |
Entity File Number | 001-14858 |
Entity Registrant Name | CGI INC. |
Entity Incorporation, State or Country Code | Z4 |
Entity Address, Address Line One | 1350 René-Lévesque Boulevard West |
Entity Address, Address Line Two | 25th Floor |
Entity Address, City or Town | Montréal |
Entity Address, State or Province | QC |
Entity Address, Country | CA |
Entity Address, Postal Zip Code | H3G 1T4 |
City Area Code | 514 |
Local Phone Number | 841-3200 |
Title of 12(b) Security | Class A subordinate voting shares |
Trading Symbol | GIB |
Security Exchange Name | NYSE |
Annual Information Form | true |
Audited Annual Financial Statements | true |
Entity Current Reporting Status | Yes |
Entity Interactive Data Current | Yes |
Entity Emerging Growth Company | false |
ICFR Auditor Attestation Flag | true |
Entity Central Index Key | 0001061574 |
Document Fiscal Year Focus | 2021 |
Document Fiscal Period Focus | FY |
Amendment Flag | false |
Business Contact | |
Entity Information [Line Items] | |
Entity Address, Address Line One | 11325 Random Hills |
Entity Address, City or Town | Fairfax |
Entity Address, State or Province | VA |
Entity Address, Postal Zip Code | 22030 |
City Area Code | 703 |
Local Phone Number | 267-8679 |
Contact Personnel Name | CGI Technologies and Solutions Inc. |
Class A subordinate voting shares | |
Entity Information [Line Items] | |
Entity Common Stock, Shares Outstanding | 219,171,329 |
Class B multiple voting shares | |
Entity Information [Line Items] | |
Entity Common Stock, Shares Outstanding | 26,445,706 |
Consolidated Statements of Earn
Consolidated Statements of Earnings - CAD ($) $ in Thousands | 12 Months Ended | |
Sep. 30, 2021 | Sep. 30, 2020 | |
Profit or loss [abstract] | ||
Revenue | $ 12,126,793 | $ 12,164,115 |
Operating expenses | ||
Costs of services, selling and administrative | 10,178,164 | 10,302,068 |
Acquisition-related and integration costs | 7,371 | 76,794 |
Restructuring costs | 0 | 155,411 |
Net finance costs | 106,798 | 114,474 |
Foreign exchange gain | (3,532) | (899) |
Operating expenses | 10,288,801 | 10,647,848 |
Earnings before income taxes | 1,837,992 | 1,516,267 |
Income tax expense | 468,920 | 398,405 |
Net earnings | $ 1,369,072 | $ 1,117,862 |
Earnings per share | ||
Basic earnings per share (CAD per share) | $ 5.50 | $ 4.27 |
Diluted earnings per share (CAD per share) | $ 5.41 | $ 4.20 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income - CAD ($) $ in Thousands | 12 Months Ended | |
Sep. 30, 2021 | Sep. 30, 2020 | |
Statement of comprehensive income [abstract] | ||
Net earnings | $ 1,369,072 | $ 1,117,862 |
Items that will be reclassified subsequently to net earnings: | ||
Net unrealized (losses) gains on translating financial statements of foreign operations | (391,574) | 406,445 |
Net gains on cross-currency swaps and on translating long-term debt designated as hedges of net investments in foreign operations | 150,313 | 8,914 |
Deferred (costs) gains of hedging on cross-currency swaps | (7,484) | 18,144 |
Net unrealized gains (losses) on cash flow hedges | 10,964 | (30,091) |
Net unrealized (losses) gains on financial assets at fair value through other comprehensive income | (2,149) | 2,854 |
Items that will not be reclassified subsequently to net earnings: | ||
Net remeasurement gains (losses) on defined benefit plans | 25,800 | (37,250) |
Other comprehensive (loss) income | (214,130) | 369,016 |
Comprehensive income (loss) | $ 1,154,942 | $ 1,486,878 |
Consolidated Balance Sheets
Consolidated Balance Sheets - CAD ($) $ in Thousands | Sep. 30, 2021 | Sep. 30, 2020 |
Current assets | ||
Cash and cash equivalents | $ 1,699,206 | $ 1,707,985 |
Accounts receivable | 1,231,452 | 1,219,302 |
Work in progress | 1,045,058 | 1,075,252 |
Current financial assets | 18,961 | 18,500 |
Prepaid expenses and other current assets | 172,371 | 160,406 |
Income taxes | 4,936 | 29,363 |
Total current assets before funds held for clients | 4,171,984 | 4,210,808 |
Funds held for clients | 593,154 | 725,178 |
Total current assets | 4,765,138 | 4,935,986 |
Property, plant and equipment | 352,092 | 372,946 |
Right-of-use assets | 586,207 | 666,865 |
Contract costs | 230,562 | 239,376 |
Intangible assets | 506,793 | 521,462 |
Other long-term assets | 191,512 | 163,739 |
Long-term financial assets | 152,658 | 156,569 |
Deferred tax assets | 96,358 | 113,484 |
Goodwill | 8,139,701 | 8,379,931 |
Total assets | 15,021,021 | 15,550,358 |
Current liabilities | ||
Accounts payable and accrued liabilities | 891,374 | 814,119 |
Accrued compensation and employee-related liabilities | 1,084,014 | 884,619 |
Current portion of long-term debt | 392,727 | 310,764 |
Deferred revenue | 445,740 | 426,393 |
Income taxes | 160,651 | 136,928 |
Current portion of lease liabilities | 167,819 | 178,720 |
Provisions | 63,549 | 175,632 |
Current derivative financial instruments | 6,497 | 8,328 |
Total current liabilities before clients’ funds obligations | 3,212,371 | 2,935,503 |
Clients’ funds obligations | 591,101 | 720,322 |
Total current liabilities | 3,803,472 | 3,655,825 |
Long-term debt | 3,008,929 | 3,276,331 |
Long-term income taxes | 5,719 | 6,720 |
Long-term lease liabilities | 609,121 | 697,650 |
Long-term provisions | 26,576 | 23,888 |
Other long-term liabilities | 202,662 | 185,374 |
Long-term derivative financial instruments | 41,784 | 56,622 |
Deferred tax liabilities | 132,038 | 158,341 |
Retirement benefits obligations | 204,488 | 225,447 |
Financial liabilities | 8,034,789 | 8,286,198 |
Equity | ||
Retained earnings | 4,732,229 | 4,703,642 |
Accumulated other comprehensive income | 331,580 | 545,710 |
Capital stock | 1,632,705 | 1,761,873 |
Contributed surplus | 289,718 | 252,935 |
Total equity | 6,986,232 | 7,264,160 |
Total equity and liabilities | $ 15,021,021 | $ 15,550,358 |
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 (Previously stated) at Sep. 30, 2019 | $ 6,884,103 | $ 4,557,855 | $ 176,694 | $ 1,903,977 | $ 245,577 |
Beginning balance (Adoption of IFRS 16) at Sep. 30, 2019 | (93,873) | (93,873) | |||
Beginning balance at Sep. 30, 2019 | 6,790,230 | 4,463,982 | 176,694 | 1,903,977 | 245,577 |
Net earnings | 1,117,862 | 1,117,862 | |||
Other comprehensive (loss) income | 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 |
Net earnings | 1,369,072 | 1,369,072 | |||
Other comprehensive (loss) income | (214,130) | (214,130) | |||
Comprehensive income (loss) | 1,154,942 | 1,369,072 | (214,130) | ||
Share-based payment costs | 45,592 | 45,592 | |||
Income tax impact associated with stock options | 11,114 | 11,114 | |||
Exercise of stock options | 61,054 | 73,827 | (12,773) | ||
Exercise of performance share units | 0 | 7,150 | (7,150) | ||
Purchase for cancellation of Class A subordinate voting shares | (1,519,226) | (1,340,485) | (178,741) | ||
Purchase of Class A subordinate voting shares held in trusts | (31,404) | (31,404) | |||
Ending balance at Sep. 30, 2021 | $ 6,986,232 | $ 4,732,229 | $ 331,580 | $ 1,632,705 | $ 289,718 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - CAD ($) $ in Thousands | 12 Months Ended | ||
Sep. 30, 2021 | Sep. 30, 2020 | ||
Operating activities | |||
Net earnings | $ 1,369,072 | $ 1,117,862 | |
Adjustments for: | |||
Amortization, depreciation and impairment | 510,570 | 565,692 | |
Deferred income tax (recovery) expense | (25,934) | 6,170 | |
Foreign exchange loss (gain) | 3,950 | (7,956) | |
Share-based payment costs | 45,592 | 37,358 | |
Gain on leases termination | (2,186) | 0 | |
Loss on sale of business | 0 | 1,266 | |
Net change in non-cash working capital items | 214,864 | 218,164 | |
Cash provided by operating activities | 2,115,928 | 1,938,556 | |
Investing activities | |||
Net change in short-term investments | 446 | 8,414 | |
Business acquisitions (considering the bank overdraft assumed and cash acquired) | (98,926) | (269,585) | |
Proceeds from sale of business | 0 | 2,647 | |
Purchase of property, plant and equipment | (121,806) | (128,478) | |
Additions to contract costs | (65,001) | (72,845) | |
Additions to intangible assets | (113,934) | (114,112) | |
Purchase of long-term investments | (6,957) | (10,594) | |
Proceeds from sale of long-term investments | 8,631 | 12,100 | |
Cash used in investing activities | (397,547) | (572,453) | |
Financing activities | |||
Net change in unsecured committed revolving credit facility | 0 | (334,370) | |
Increase of long-term debt | 1,885,262 | 1,807,167 | |
Repayment of long-term debt | (1,888,777) | (106,496) | |
Payment of lease liabilities | (169,674) | (175,320) | |
Repayment of debt assumed in business acquisitions | 0 | (28,281) | |
Payment for remaining shares of Acando | [1] | 0 | (23,123) |
Settlement of derivative financial instruments | (6,992) | (3,903) | |
Purchase of Class A subordinate voting shares held in trusts | (31,404) | (55,287) | |
Purchase and cancellation of Class A subordinate voting shares | (1,502,824) | (1,043,517) | |
Issuance of Class A subordinate voting shares | 61,133 | 57,302 | |
Cash (used in) provided by financing activities | (1,653,276) | 94,172 | |
Effect of foreign exchange rate changes on cash and cash equivalents | (73,884) | 33,879 | |
Net (decrease) increase in cash and cash equivalents | (8,779) | 1,494,154 | |
Cash and cash equivalents, beginning of year | 1,707,985 | 213,831 | |
Cash and cash equivalents, end of year | $ 1,699,206 | $ 1,707,985 | |
[1] | Related to a business acquisition made during the year ended September 30, 2019. |
Description of business
Description of business | 12 Months Ended |
Sep. 30, 2021 | |
Corporate Information And Statement Of IFRS Compliance [Abstract] | |
Description of business | Description of businessCGI Inc. (the Company), directly or through its subsidiaries, provides managed information technology (IT) and business process services, business consulting, strategic IT consulting and systems integration, 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, 2021 | |
Corporate Information And Statement Of IFRS Compliance [Abstract] | |
Basis of preparation | Basis of preparationThese 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, 2021 and 2020 were authorized for issue by the Board of Directors on November 9, 2021. |
Summary of significant accounti
Summary of significant accounting policies | 12 Months Ended |
Sep. 30, 2021 | |
Disclosure Of Significant Accounting Policies [Abstract] | |
Summary of significant accounting policies | Summary of significant accounting policies CHANGE IN ACCOUNTING POLICY - ACCRUED COMPENSATION AND EMPLOYEE-RELATED LIABILITIES During the year ended September 30, 2021, the Company modified the presentation of employee’s related liabilities which mainly include payroll related benefits accruals and remittances due to governments to reflect a preferable classification of the nature of these items. Previously under Accounts payable and accrued liabilities these items are now included under Accrued compensation and employee-related liabilities for an amount of $229,686,000 as at September 30, 2021. An amount of $211,844,000, as at September 30, 2020, was reclassified for comparability. 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. 3. Summary of significant accounting policies (continued) USE OF JUDGEMENTS AND ESTIMATES (CONTINUED) 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. 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, 2021, the Company assessed the impact of the uncertainties around the COVID-19 pandemic on its balance sheet carrying amounts. This review required the use of judgements and estimates and resulted in no material impact. The Company will continue to monitor the impact of the development of the COVID-19 pandemic in future reporting periods. REVENUE RECOGNITION, WORK IN PROGRESS AND DEFERRED REVENUE The Company generates revenue through the provision of managed IT and business process services, business consulting, strategic IT consulting and systems integration, 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. 3. Summary of significant accounting policies (continued) REVENUE RECOGNITION, WORK IN PROGRESS AND DEFERRED REVENUE (CONTINUED) 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. 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 selling 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. Business consulting, strategic IT consulting and systems integration Revenue from business consulting, strategic IT consulting and systems integration 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 business consulting, strategic IT consulting and systems integration 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 business consulting, strategic IT consulting and systems integration section above. Revenue from maintenance services for software licenses sold is recognized straight-line over the term of the maintenance period. 3. Summary of significant accounting policies (continued) REVENUE RECOGNITION, WORK IN PROGRESS AND DEFERRED REVENUE (CONTINUED) 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, 2021, the revenues recognized from the short-term deferred revenue was not significantly different than what was presented as at September 30, 2020. 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, 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 expectations, 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 (PP&E) 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 The Company adopted IFRS 16, Leases on October 1, 2019. When the Company enters into contractual agreements, an assessment is performed to determine if the contract contains a lease. The Company identified lease agreements under the following categories: Properties, Motor vehicles 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. 3. Summary of significant accounting policies (continued) LEASES (CONTINUED) 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. The Company 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. The extension or termination options are only included in the lease term if it is reasonably certain of being exercised. 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. In addition, upon partial or full termination of a lease, the difference between the carrying amounts of the lease liability and the right-of-use asset is recorded in the consolidated statements of earnings. 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. 3. Summary of significant accounting policies (continued) INTANGIBLE ASSETS Intangible assets consist 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. 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 5 to 7 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 pre-tax 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 pre-tax discount rate applied to an operating segment is derived from 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. 3. Summary of significant accounting policies (continued) IMPAIRMENT OF PP&E, RIGHT-OF-USE ASSETS, INTANGIBLE ASSETS AND GOODWILL (CONTINUED) Impairment testing (continued) 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 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 revenue-generating contracts and onerous supplier 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 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. Provisions for onerous |
Accounts receivable
Accounts receivable | 12 Months Ended |
Sep. 30, 2021 | |
Subclassifications of assets, liabilities and equities [abstract] | |
Accounts receivable | Accounts receivable As at As at $ $ Trade (Note 31) 938,417 904,887 R&D and other tax credits 1 187,347 180,953 Other 105,688 133,462 1,231,452 1,219,302 1 |
Funds held for clients
Funds held for clients | 12 Months Ended |
Sep. 30, 2021 | |
Subclassifications of assets, liabilities and equities [abstract] | |
Funds held for clients | Funds held for clients As at As at $ $ Cash 456,525 576,708 Long-term bonds (Note 31) 136,629 148,470 593,154 725,178 |
Property, plant and equipment
Property, plant and equipment | 12 Months Ended |
Sep. 30, 2021 | |
Property, plant and equipment [abstract] | |
Property, plant and equipment | Property, plant and equipment Land and Leasehold improvements Furniture, fixtures and equipment Computer equipment Total $ $ $ $ $ Cost As at September 30, 2020 79,281 241,542 165,219 661,891 1,147,933 Additions 2,000 26,349 10,956 96,418 135,723 Additions - business acquisitions (Note 26a) — 1,200 208 414 1,822 Disposals/retirements — (15,284) (20,238) (142,724) (178,246) Foreign currency translation adjustment (2,374) (8,983) (5,528) (23,107) (39,992) As at September 30, 2021 78,907 244,824 150,617 592,892 1,067,240 Accumulated depreciation As at September 30, 2020 20,124 150,572 108,060 496,231 774,987 Depreciation expense (Note 24) 2,590 25,512 13,547 102,774 144,423 Impairment (Note 24) — 612 50 451 1,113 Disposals/retirements — (15,284) (20,238) (142,724) (178,246) Foreign currency translation adjustment (753) (5,400) (3,726) (17,250) (27,129) As at September 30, 2021 21,961 156,012 97,693 439,482 715,148 Net carrying amount as at September 30, 2021 56,946 88,812 52,924 153,410 352,092 Land and 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 26c ) 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 |
Right-of-use assets
Right-of-use assets | 12 Months Ended |
Sep. 30, 2021 | |
Right-Of-Use Assets [Abstract] | |
Right-of-use assets | Right-of-use assets Properties Motor vehicles and others Computer Total $ $ $ $ Cost As at September 30, 2020 1,124,258 233,976 40,965 1,399,199 Additions 60,318 21,955 828 83,101 Additions - business acquisitions (Note 26a) 4,982 — — 4,982 Change in estimates and lease modifications 33,774 — — 33,774 Disposals/retirements (99,373) (73,190) (2,183) (174,746) Foreign currency translation adjustment (43,092) (8,387) (517) (51,996) As at September 30, 2021 1,080,867 174,354 39,093 1,294,314 Accumulated depreciation As at September 30, 2020 605,155 97,573 29,606 732,334 Depreciation expense (Note 24) 111,899 41,766 6,575 160,240 Impairment (Note 24) 1,467 — — 1,467 Disposals/retirements (87,557) (67,464) (2,183) (157,204) Foreign currency translation adjustment (24,406) (3,900) (424) (28,730) As at September 30, 2021 606,558 67,975 33,574 708,107 Net carrying amount as at September 30, 2021 474,309 106,379 5,519 586,207 Properties Motor vehicles and others Computer 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 26c) 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) 501,821 114,097 24,787 640,705 As at October 1, 2019 501,821 114,097 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 605,155 97,573 29,606 732,334 Net carrying amount as at September 30, 2020 519,103 136,403 11,359 666,865 |
Contract costs
Contract costs | 12 Months Ended |
Sep. 30, 2021 | |
Revenue From Contracts With Customers [Abstract] | |
Contract costs | Contract costs As at September 30, 2021 As at September 30, 2020 Cost Accumulated amortization Net carrying amount Cost Accumulated amortization Net carrying amount $ $ $ $ $ $ Transition costs 487,106 262,311 224,795 477,174 246,468 230,706 Incentives 52,200 46,433 5,767 67,545 58,875 8,670 539,306 308,744 230,562 544,719 305,343 239,376 |
Intangible assets
Intangible assets | 12 Months Ended |
Sep. 30, 2021 | |
Intangible assets other than goodwill [abstract] | |
Intangible assets | Intangible assets Internal-use software acquired Internal-use software internally developed Business solutions acquired Business solutions internally developed Software Client relationships Total $ $ $ $ $ $ $ Cost As at September 30, 2020 96,900 131,298 76,278 571,015 190,372 1,187,862 2,253,725 Additions 107 7,712 — 85,572 21,086 — 114,477 Additions - business acquisitions (Note 26a) — — 8,081 — — 14,026 22,107 Disposals/retirements (16,427) (39,284) (3,242) (9,041) (39,656) — (107,650) Foreign currency translation adjustment (1,370) (835) (2,476) (22,696) (4,428) (47,268) (79,073) As at September 30, 2021 79,210 98,891 78,641 624,850 167,374 1,154,620 2,203,586 Accumulated amortization As at September 30, 2020 84,431 79,745 75,170 338,122 142,456 1,012,339 1,732,263 Amortization expense (Note 24) 5,464 13,882 3,043 44,439 24,963 38,070 129,861 Impairment (Note 24) — — — 4,121 — — 4,121 Disposals/retirements (16,427) (39,284) (3,242) (9,041) (39,656) — (107,650) Foreign currency translation adjustment (1,165) (509) (2,240) (12,044) (3,562) (42,282) (61,802) As at September 30, 2021 72,303 53,834 72,731 365,597 124,201 1,008,127 1,696,793 Net carrying amount as at September 30, 6,907 45,057 5,910 259,253 43,173 146,493 506,793 Internal-use software acquired Internal-use software internally developed Business solutions acquired Business solutions internally developed Software 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 26c) — — — — 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 |
Other long-term assets
Other long-term assets | 12 Months Ended |
Sep. 30, 2021 | |
Subclassifications of assets, liabilities and equities [abstract] | |
Other long-term assets | Other long-term assets As at As at $ $ Prepaid long-term maintenance agreements 32,019 17,567 Insurance contracts held to fund defined benefit pension and life assurance arrangements - reimbursement rights (Note 17) 21,250 24,033 Retirement benefits assets (Note 17) 106,228 86,127 Deposits 15,641 13,312 Deferred financing fees 2,533 3,408 Other 13,841 19,292 191,512 163,739 |
Long-term financial assets
Long-term financial assets | 12 Months Ended |
Sep. 30, 2021 | |
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 31) 81,633 73,156 Long-term investments (Note 31) 19,354 22,612 Long-term receivables 18,093 20,623 Long-term derivative financial instruments (Note 31) 33,578 40,178 152,658 156,569 |
Goodwill
Goodwill | 12 Months Ended |
Sep. 30, 2021 | |
Intangible assets and goodwill [abstract] | |
Goodwill | Goodwill The Company’s operations are managed through the following nine operating segments, namely: Western and Southern Europe (primarily France and Portugal); 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 the Netherlands); Scandinavia; Finland, Poland and Baltics; and Asia Pacific Global Delivery Centers of Excellence (mainly India and Philippines) (Asia Pacific). The operating segments reflect the current 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 2021 and did not identify any impairment. The movements 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, 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 Business acquisitions (Note 26) (994) 75,697 — (2,740) (276) 1,812 — — — 73,499 Foreign currency translation adjustment (65,755) (53,232) — (48,640) (8,775) (56,300) (29,300) (39,888) (11,839) (313,729) As at September 30, 2021 1,022,350 1,169,772 1,142,148 947,782 895,921 931,361 1,140,573 619,990 269,804 8,139,701 Key assumptions in goodwill impairment testing The key assumptions for the CGUs are disclosed in the following tables for the years ended September 30: 2021 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 10.0 8.5 9.1 8.1 8.8 9.4 9.3 9.5 18.5 Long-term growth rate of net operating cash flows 1 1.6 2.0 2.0 2.0 1.9 1.8 1.8 1.7 2.0 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 1 The long-term growth rate is based on the lower of published industry research growth and 2.0%. |
Provisions
Provisions | 12 Months Ended |
Sep. 30, 2021 | |
Provisions [abstract] | |
Provisions | Provisions Restructuring 1, 4 Decommissioning liabilities 2 Others 3 Total $ $ $ $ As at September 30, 2020 115,272 26,561 57,687 199,520 Additional provisions 1,008 2,239 52,728 55,975 Utilized amounts (93,340) (2,677) (50,880) (146,897) Reversals of unused amounts — (437) (11,958) (12,395) Discount rate adjustment and imputed interest — 117 — 117 Foreign currency translation adjustment (3,292) (951) (1,952) (6,195) As at September 30, 2021 19,648 24,852 45,625 90,125 Current portion 19,289 4,466 39,794 63,549 Non-current portion 359 20,386 5,831 26,576 1 See Note 26d), Investments in subsidiaries. 2 As at September 30, 2021, the decommissioning liabilities were based on the expected cash flows of $25,491,000 and were discounted at a weighted average rate of 0.57%. The timing of settlements of these obligations ranges between one 3 As at September 30, 2021, others included onerous revenue-generating contracts, litigation and claims and onerous supplier contracts. 4 During the year ended September 30, 2020, the Company recorded $155,411,000 of restructuring costs related to announced restructuring plans. This amount included 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. |
Long-term debt
Long-term debt | 12 Months Ended |
Sep. 30, 2021 | |
Borrowings [abstract] | |
Long-term debt | Long-term debt As at As at $ $ Senior U.S. unsecured note repayable of $316,900 (U.S.$250,000) in December 2021 1 318,009 339,682 Senior unsecured notes repayable in September by tranches of $380,280 (U.S.$300,000) in 2024 and $190,140 (U.S.$150,000) in three yearly repayments of U.S.$50,000 from 2022 to 2024 2 570,298 872,283 Senior U.S. unsecured notes repayable of $760,560 (U.S.$600,000) in September 2026 and $507,040 (U.S.$400,000) in September 2031 3 1,253,226 — Senior unsecured notes repayable of $600,000 in September 2028 4 595,331 — Unsecured committed term loan credit facilities 5 633,623 2,330,288 Other long-term debt 31,169 44,842 3,401,656 3,587,095 Current portion 392,727 310,764 3,008,929 3,276,331 1 As at September 30, 2021, an amount of $316,900,000 was borrowed, plus fair value adjustments relating to interest rate swaps designated as fair value hedges of $1,132,000 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 a fixed interest rate of 4.99%. The Senior U.S. unsecured note contains covenants that require the Company to maintain certain financial ratios (Note 32). As at September 30, 2021, the Company was in compliance with these covenants. 2 As at September 30, 2021, an amount of $570,420,000 was borrowed, less financing fees. The private placement is comprised of two tranches of Senior U.S. unsecured notes with a weighted average maturity of 2.6 years and a weighted average interest rate of 3.95% (3.64% in 2020). In September 2021, the Company repaid the fourth 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 $63,220,000 and settled the related cross-currency swaps (Note 31). In September 2021, the Company repaid the scheduled repayment of U.S.$55,000,000 on another tranche of the Senior U.S. unsecured notes for a total amount of $69,542,000 and settled the related cross-currency swaps (Note 31). In September 2021, the Company also repaid the scheduled repayment of €85,000,000 of the Senior euro unsecured notes for a total amount of $126,914,000. The Senior unsecured notes contain covenants that require the Company to maintain certain financial ratios (Note 32). As at September 30, 2021, the Company was in compliance with these covenants. 3 During the year ended September 30, 2021, the Company issued Senior U.S. unsecured notes (2021 U.S. Senior Notes) for a total principal amount of U.S.$1,000,000,000. This issuance is comprised of two series of Senior U.S. unsecured notes with a weighted average maturity of 7 years and a weighted average interest rate of 1.79%. As at September 30, 2021, an amount of $1,267,600,000 was borrowed, less financing fees. 4 During the year ended September 30, 2021, the Company issued Senior unsecured notes (2021 CAD Senior Notes) for a total principal amount of $600,000,000. This issuance is due in September 2028, with an interest rate of 2.10%. As at September 30, 2021, an amount of $600,000,000 was borrowed, less financing fees. 5 As at September 30, 2021, an amount of $633,800,000 was borrowed less financing fees. 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. The unsecured committed term loan credit facility is due in December 2023, with a weighted average interest rate of 1.09%. The unsecured committed term loan credit facility contains covenants that require the Company to maintain certain financial ratios (Note 32). As at September 30, 2021, the Company was in compliance with these covenants. In September 2021, the Company repaid the amended and restated unsecured committed term loan credit facility entered into in April 2020 of U.S.$1,250,000,000 for a total amount of $1,583,546,000. |
Other long-term liabilities
Other long-term liabilities | 12 Months Ended |
Sep. 30, 2021 | |
Subclassifications of assets, liabilities and equities [abstract] | |
Other long-term liabilities | Other long-term liabilities As at As at $ $ Deferred revenue 59,349 38,466 Deferred compensation plan liabilities (Note 17) 91,943 82,221 Other 1 51,370 64,687 202,662 185,374 1 |
Income taxes
Income taxes | 12 Months Ended |
Sep. 30, 2021 | |
Income Taxes [Abstract] | |
Income taxes | Income taxes Year ended September 30 2021 2020 $ $ Current income tax expense Current income tax expense in respect of the current year 475,833 416,563 Adjustments recognized in the current year in relation to the income tax expense of prior years 19,021 (24,328) Total current income tax expense 494,854 392,235 Deferred income tax (recovery) expense Deferred income tax recovery relating to the origination and reversal of temporary differences (6,165) (1,120) Deferred income tax recovery relating to changes in tax rates (460) (3,479) Adjustments recognized in the current year in relation to the deferred income tax recovery of prior (19,309) 10,769 Total deferred income tax (recovery) expense (25,934) 6,170 Total income tax expense 468,920 398,405 The Company’s effective income tax rate differs from the combined Federal and Provincial Canadian statutory tax rate as follows: Year ended September 30 2021 2020 % % Company's statutory tax rate 26.5 26.5 Effect of foreign tax rate differences (1.0) (0.9) Final determination from agreements with tax authorities and expirations of statutes of limitations 0.2 (0.9) Non-deductible and tax exempt items (0.4) 0.2 Recognition of previously unrecognized temporary differences (0.2) — Effect of integration-related costs — 0.7 Minimum income tax charge 0.4 0.9 Changes in tax laws and rates — (0.2) Effective income tax rate 25.5 26.3 16. Income taxes (continued) The continuity schedule of deferred tax balances is as follows: As at Additions Recognized in earnings Recognized Recognized Foreign currency translation adjustment and other As at $ $ $ $ $ $ $ Accounts payable and accrued 64,208 (2,427) (7,553) (1) — (3,071) 51,156 Tax benefits on losses carried 46,228 4,654 (6,284) — — (1,417) 43,181 Accrued compensation and 27,420 — 7,811 — 6,137 (1,260) 40,108 Retirement benefits obligations 23,166 — 2,573 (5,919) — (2,259) 17,561 Lease liabilities 222,997 — (36,103) — — (7,576) 179,318 PP&E, contract costs, intangible (136,460) (3,905) 14,280 — — 4,776 (121,309) Right-of-use assets (171,835) — 31,255 — — 5,772 (134,808) Work in progress (34,277) — 11,139 — — 948 (22,190) Goodwill (64,209) — (10,493) — — 3,857 (70,845) Refundable tax credits on (22,724) — 3,051 — — — (19,673) Cash flow hedges (475) — 675 (6,157) — 331 (5,626) Other 1,104 — 15,583 (8,542) — (698) 7,447 Deferred taxes, net (44,857) (1,678) 25,934 (20,619) 6,137 (597) (35,680) As at September 30, 2019 Adoption of IFRS 16 (Note 3) As at October Additions Recognized in earnings Recognized Recognized in equity Foreign currency translation As at $ $ $ $ $ $ $ $ $ Accounts payable and accrued 67,926 (17,150) 50,776 47 12,819 (7) — 573 64,208 Tax benefits on losses carried 59,163 — 59,163 886 (17,492) — — 3,671 46,228 Accrued compensation and 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 (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 (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) The deferred tax balances are presented as follows in the consolidated balance sheets: As at As at $ $ Deferred tax assets 96,358 113,484 Deferred tax liabilities (132,038) (158,341) (35,680) (44,857) 16. Income taxes (continued) As at September 30, 2021, the Company had $225,002,000 ($291,255,000 as at September 30, 2020) in operating tax losses carried forward, of which $82,548,000 ($59,390,000 as at September 30, 2020) expire at various dates from 2029 to 2040 and $142,454,000 ($231,865,000 as at September 30, 2020) have no expiry dates. As at September 30, 2021, a deferred income tax asset of $38,371,000 ($41,380,000 as at September 30, 2020) has been recognized on $162,693,000 ($217,563,000 as at September 30, 2020) 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, 2021, the Company had $25,325,000 ($31,639,000 as at September 30, 2020) of the unrecognized operating tax losses that will expire at various dates from 2029 to 2032 and $36,984,000 ($42,053,000 as at September 30, 2020) that have no expiry date. As at September 30, 2021, the Company had $469,097,000 ($485,546,000 as at September 30, 2020) in non-operating tax losses carried forward that have no expiry dates. As at September 30, 2021, a deferred income tax asset of $4,810,000 ($4,848,000 as at September 30, 2020) has been recognized on $20,534,000 ($19,436,000 as at September 30, 2020) of these losses. As at September 30, 2021, the Company had $448,563,000 ($466,110,000 as at September 30, 2020) of unrecognized non-operating tax losses. As at September 30, 2021, the Company had $1,420,634,000 ($836,101,000 as at September 30, 2020) 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 $6,290,351,000 ($5,565,437,000 as at September 30, 2020) 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. |
Employee benefits
Employee benefits | 12 Months Ended |
Sep. 30, 2021 | |
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 15% of the plan assets in equities and 85% 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 new funding actuarial valuations of the three defined benefit pension plans described above are being performed as at September 30, 2021 and the results are expected to be available by the end of the 2022 calendar year. In the meantime, in line with the last funding actuarial valuations, the Company contributed an amount of $1,336,000 to the CMG U.K. Pension Scheme and $282,000 to the Logica UK Pension & Life Assurance Scheme to cover mainly administration expenses and future service in the scheme, during the year ended September 30, 2021. In addition, during the year ended September 30, 2020, the Company followed the below recommendations from the last funding valuation: – 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. 17. Employee benefits (continued) DEFINED BENEFIT PLANS (CONTINUED) 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. 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, 2021 U.K. Germany France Other Total $ $ $ $ $ Defined benefit obligations (881,008) (94,381) (77,006) (82,159) (1,134,554) Fair value of plan assets 986,359 12,234 661 37,040 1,036,294 105,351 (82,147) (76,345) (45,119) (98,260) Fair value of reimbursement rights — 20,823 — 427 21,250 Net asset (liability) recognized in the balance sheet 105,351 (61,324) (76,345) (44,692) (77,010) Other long-term assets (Note 10) Insurance contracts held to fund defined — 20,823 — 427 21,250 Retirement benefits assets 105,351 — — 877 106,228 Retirement benefits obligations — (82,147) (76,345) (45,996) (204,488) 105,351 (61,324) (76,345) (44,692) (77,010) 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) Other long-term assets (Note 10) Insurance contracts held to fund defined — 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) 17. Employee benefits (continued) DEFINED BENEFIT PLANS (CONTINUED) Defined benefit obligations U.K. Germany France Other Total $ $ $ $ $ As at September 30, 2020 891,628 104,090 84,442 83,584 1,163,744 Current service cost 1,114 665 6,004 8,095 15,878 Interest cost 13,490 642 529 2,867 17,528 Past service cost 346 — — — 346 Actuarial losses (gains) due to change in financial assumptions 1 21,722 (1,201) (2,922) (1,125) 16,474 Actuarial (gains) losses due to experience 1 (9,994) 521 (3,498) (559) (13,530) Plan participant contributions 92 — — — 92 Benefits paid from the plan (29,936) (1,053) — (3,521) (34,510) Benefits paid directly by employer — (2,954) (2,492) (2,242) (7,688) Foreign currency translation adjustment 1 (7,454) (6,329) (5,057) (4,940) (23,780) As at September 30, 2021 881,008 94,381 77,006 82,159 1,134,554 Defined benefit obligations of unfunded plans — — 77,006 40,491 117,497 Defined benefit obligations of funded plans 881,008 94,381 — 41,668 1,017,057 As at September 30, 2021 881,008 94,381 77,006 82,159 1,134,554 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 26c) — — 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 — — 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 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, 2020 977,137 35,271 692 35,357 1,048,457 Interest income on plan assets 14,795 216 5 1,507 16,523 Employer contributions 1,640 3,462 2,492 7,649 15,243 Return on assets excluding interest income 1 32,252 384 7 1,836 34,479 Plan participants contributions 92 — — 393 485 Benefits paid from the plan (29,936) (1,053) — (3,521) (34,510) Benefits paid directly by employer — (2,954) (2,492) (2,242) (7,688) Administration expenses paid from the plan (1,400) — — (8) (1,408) Foreign currency translation adjustment 1 (8,221) (2,269) (43) (3,504) (14,037) As at September 30, 2021 986,359 33,057 661 37,467 1,057,544 Plan assets 986,359 12,234 661 37,040 1,036,294 Reimbursement rights — 20,823 — 427 21,250 As at September 30, 2021 986,359 33,057 661 37,467 1,057,544 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 26c) — — 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 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, 2021 U.K. Germany France Other Total $ $ $ $ $ Quoted equities 426,066 — — — 426,066 Quoted bonds 109,787 — — — 109,787 Cash 36,974 — — 64 37,038 Other 1 413,532 12,234 661 36,976 463,403 986,359 12,234 661 37,040 1,036,294 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 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 2021 2020 $ $ Current service cost 15,878 14,475 Past service cost 346 — Net interest on net defined benefit obligations or assets 1,005 629 Administration expenses 1,408 1,247 18,637 16,351 1 The expense was presented as costs of services, selling and administrative for an amount of $16,224,000 and as net finance costs for an amount of $2,413,000 (Note 25) ($14,475,000 and $1,876,000, respectively for the year ended September 30, 2020). 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, 2021 U.K Germany France Other % % % % Discount rate 2.03 0.88 0.90 3.30 Future salary increases 3.45 2.50 3.75 1.34 Future pension increases 3.38 1.80 — 0.07 Inflation rate 3.45 2.00 1.50 2.83 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 — 0.08 Inflation rate 2.84 2.00 1.50 2.51 The average longevity over 65 of a member presently at age 45 and 65 are as follows: As at September 30, 2021 U.K. Germany (in years) Longevity at age 65 for current members Males 21.9 21.0 Females 23.8 24.0 Longevity at age 45 for current members Males 23.3 23.0 Females 25.4 26.0 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 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, 2021: (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, 2021 U.K. Germany France $ $ $ Increase of 0.25% in the discount rate (36,571) (2,986) (2,716) Decrease of 0.25% in the discount rate 38,221 3,144 2,851 Salary increase of 0.25% 480 35 2,870 Salary decrease of 0.25% (471) (34) (2,746) Pension increase of 0.25% 25,254 1,440 — Pension decrease of 0.25% (24,480) (1,381) — Increase of 0.25% in inflation rate 36,172 1,440 2,870 Decrease of 0.25% in inflation rate (34,478) (1,381) (2,746) Increase of one 27,907 3,131 555 Decrease of one (27,556) (2,761) (585) 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 27,126 3,615 558 Decrease of one (26,843) (3,040) (592) 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 2021 2020 (in years) U.K. 18 18 Germany 13 14 France 15 14 Other 12 12 17. Employee benefits (continued) DEFINED BENEFIT PLANS (CONTINUED) The Company expects to contribute $8,534,000 to defined benefit plans during the next year, of which $1,673,000 relates to the U.K. plans, and $6,861,000 relates to the other plans. The contributions will include 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 $224,010,000 in 2021 ($228,998,000 in 2020). 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 0.65% and the Company’s proportion of the total number of active members in the plan is 0.49%. 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, 2021, Alecta collective funding ratio was 169% (144% in 2020). The plan expense was $31,807,000 in 2021 ($30,269,000 in 2020). The Company expects to contribute $26,825,000 to the plan during the next year. OTHER BENEFIT PLANS As at September 30, 2021, the deferred compensation liability totaled $91,943,000 ($82,221,000 as at September 30, 2020) (Note 15) and the deferred compensation assets totaled $81,633,000 ($73,156,000 as at September 30, 2020) (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 $81,245,000 as at September 30, 2021 ($72,743,000 as at September 30, 2020). |
Accumulated other comprehensive
Accumulated other comprehensive income | 12 Months Ended |
Sep. 30, 2021 | |
Disclosure of 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 $43,208 ($56,239 as at September 30, 2020) 611,230 1,002,804 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 $41,611 ($63,692 as at September 30, 2020) (267,149) (417,462) Deferred gains of hedging on cross-currency swaps, net of accumulated income tax expense of $2,369 ($4,049 as at September 30, 2020) 6,569 14,053 Net unrealized gains (losses) on cash flow hedges, net of accumulated income tax expense of $1,252 (net of accumulated income tax recovery of $2,554 as at September 30, 2020) 5,029 (5,935) Net unrealized gains on financial assets at fair value through other comprehensive income, net of accumulated income tax expense of $592 ($1,291 as at September 30, 2020) 2,191 4,340 Items that will not be reclassified subsequently to net earnings: Net remeasurement losses on defined benefit plans, net of accumulated income tax recovery of $11,084 ($18,920 as at September 30, 2020) (26,290) (52,090) 331,580 545,710 For the year ended September 30, 2021, $412,000 of the net unrealized loss on cash flow hedges, net of income tax recovery of $623,000, previously recognized in other comprehensive income were reclassified in the consolidated statements of earnings ($5,616,000.00 of net unrealized gains on cash flow hedges, net of income tax expense of $1,648,000.00, were reclassified for the year ended September 30, 2020). For the year ended September 30, 2021, $10,317,000 of the deferred gains of hedging on cross-currency swaps, net of income tax expense of $3,719,000, were also reclassified in the consolidated statements of earnings ($10,268,000 and $3,702,000, respectively for the year ended September 30, 2020 ). |
Capital stock
Capital stock | 12 Months Ended |
Sep. 30, 2021 | |
Disclosure of classes of share capital [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 2021 and 2020, 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, 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 Issued upon exercise of stock options 1 1,290,919 73,827 — — 1,290,919 73,827 PSUs exercised 2 — 7,150 — — — 7,150 Purchased and cancelled 3 (15,310,465) (177,560) — — (15,310,465) (177,560) Purchased and not cancelled 3 — (1,181) — — — (1,181) Purchased and held in trusts 4 — (31,404) — — — (31,404) Conversion of shares 5 2,500,000 3,488 (2,500,000) (3,488) — — As at September 30, 2021 219,171,329 1,595,811 26,445,706 36,894 245,617,035 1,632,705 1 The carrying value of Class A subordinate voting shares includes $12,773,000 ($12,269,000 during the year ended September 30, 2020), which corresponds to a reduction in contributed surplus representing the value of accumulated compensation costs associated with the stock options exercised during the year ended September 30, 2021. 2 During the year ended September 30, 2021, 119,108 PSUs were exercised (157,788 during the year ended September 30, 2020) with a recorded value of $7,150,000 ($9,078,000 during the year ended September 30, 2020) that was removed from contributed surplus. As at September 30, 2021, 1,433,521 Class A subordinate voting shares were held in trusts under the PSU plans (1,243,022 as at September 30, 2020). 3 On January 26, 2021, 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 19,184,831 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, 2021 until no later than February 5, 2022, 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 elects to terminate the bid. During the year ended September 30, 2021, the Company purchased for cancellation 4,204,865 Class A subordinate voting shares from the Caisse de dépôt et placement du Québec for a cash consideration of $400,000,000 (6,008,905 and $600,000,000, respectively during the year ended September 30, 2020). The excess of the purchase price over the carrying value in the amount of $310,048,000 was charged to retained earnings ($471,455,000 during the year ended September 30, 2020). 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, 2021, the Company purchased for cancellation 11,255,600 Class A subordinate voting shares (4,596,559 during the year ended September 30, 2020) under its previous and current NCIB for a cash consideration of $1,119,226,000 ($443,517,000 during the year ended September 30, 2020) and the excess of the purchase price over the carrying value in the amount of $1,030,437,000 ($406,747,000 during the year ended September 30, 2020) was charged to retained earnings. Of the purchased Class A subordinate voting shares, 150,000 shares with a carrying value of $1,181,000 and a purchase value of $16,402,000 were held by the Company and were paid and cancelled subsequent to September 30, 2021. 4 During the year ended September 30, 2021, the trustees, in accordance with the terms of the PSU plans and Trust Agreements, purchased 309,606 Class A subordinate voting shares of the Company on the open market (525,331 during the year ended September 30, 2020) for a cash consideration of $31,404,000 ($55,287,000 during the year ended September 30, 2020). 5 On March 1, 2021, the Co-founder and Advisor to the Executive Chairman of the Board of the Company, also a related party of the Company, converted a total of 2,500,000 Class B multiple voting shares into 2,500,000 Class A subordinate voting shares. |
Share-based payments
Share-based payments | 12 Months Ended |
Sep. 30, 2021 | |
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, 2021, 15,139,513 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: 2021 2020 Number of options Weighted Number of options Weighted $ $ Outstanding, beginning of year 8,934,097 61.33 9,891,592 54.64 Granted 995,160 97.86 913,560 110.65 Exercised (Note 19) (1,290,919) 47.29 (1,438,877) 39.72 Forfeited (622,940) 107.82 (431,223) 84.50 Expired (3,321) 108.44 (955) 74.55 Outstanding, end of year 8,012,077 64.49 8,934,097 61.33 Exercisable, end of year 5,781,579 54.76 5,748,402 49.02 The weighted average share price at the date of exercise for stock options exercised in 2021 was $104.75 ($99.79 in 2020). The following table summarizes information about the outstanding stock options granted by the Company as at September 30, 2021: Options outstanding Options exercisable Range of Number of options Weighted Weighted Number of options Weighted average exercise price $ (in years) $ $ 19.30 to 38.79 1,455,630 1.81 30.55 1,455,630 30.55 39.47 to 50.94 1,096,265 3.70 45.41 1,096,265 45.41 52.63 to 63.72 2,775,587 5.46 63.06 2,419,052 63.03 67.04 to 87.65 1,403,429 6.92 84.04 725,445 83.36 97.84 to 115.01 1,281,166 8.93 101.09 85,187 110.58 8,012,077 5.37 64.49 5,781,579 54.76 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 2021 2020 Grant date fair value ($) 16.76 17.71 Dividend yield (%) 0.00 0.00 Expected volatility (%) 1 20.76 16.60 Risk-free interest rate (%) 0.40 1.55 Expected life (years) 4.00 4.00 Exercise price ($) 97.86 110.65 Share price ($) 97.86 110.65 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, 2019 861,485 Granted 1 607,342 Exercised (Note 19) (157,788) Forfeited (79,569) Outstanding as at September 30, 2020 1,231,470 Granted 1 669,252 Exercised (Note 19) (119,108) Forfeited (365,411) Outstanding as at September 30, 2021 1,416,203 1 The PSUs granted in 2021 had a grant date fair value of $94.00 per unit ($107.39 in 2020). 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, 2021, the number of outstanding DSUs was 101,578 (152,743 DSUs as at September 30, 2020). 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 2021 2020 $ $ Stock options 13,108 16,378 PSUs 32,484 20,979 Share purchase plan 128,662 127,983 DSUs 2,876 (607) 177,130 164,733 |
Earnings per share
Earnings per share | 12 Months Ended |
Sep. 30, 2021 | |
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: 2021 2020 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 1,369,072 249,119,219 5.50 1,117,862 262,005,521 4.27 Net effect of dilutive stock options and PSUs 2 3,969,661 4,098,541 1,369,072 253,088,880 5.41 1,117,862 266,104,062 4.20 1 During the year ended September 30, 2021, 15,460,465 Class A subordinate voting shares purchased for cancellation and 1,433,521 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 (10,605,464 and 1,243,022, respectively during the year ended September 30, 2020). 2 The calculation of the diluted earnings per share excluded 1,276,809 stock options for the year ended September 30, 2021 (876,213 for the year ended September 30, 2020), as they were anti-dilutive. |
Remaining performance obligatio
Remaining performance obligations | 12 Months Ended |
Sep. 30, 2021 | |
Disclosure of performance obligations [abstract] | |
Remaining performance obligations | Remaining performance obligationsRemaining 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, 2021 is $939,499,000 ($824,854,000 as at September 30, 2020) and is expected to be recognized as revenue within a weighted average of 1.8 years (1.4 years as at September 30, 2020). |
Cost of services, selling and a
Cost of services, selling and administrative | 12 Months Ended |
Sep. 30, 2021 | |
Analysis of income and expense [abstract] | |
Cost of services, selling and administrative | Costs of services, selling and administrative Year ended September 30 2021 2020 $ $ Salaries and other member costs 1 7,317,113 7,264,839 Professional fees and other contracted labour 1,262,659 1,355,065 Hardware, software and data center related costs 830,199 800,496 Property costs 216,506 259,306 Amortization, depreciation and impairment (Note 24) 505,562 556,061 Other operating expenses 46,125 66,301 10,178,164 10,302,068 1 Net of R&D and other tax credits of $167,198,000 in 2021 ($160,335,000 in 2020). |
Amortization, depreciation and
Amortization, depreciation and impairment | 12 Months Ended |
Sep. 30, 2021 | |
Analysis of income and expense [abstract] | |
Amortization, depreciation and impairment | Amortization, depreciation and impairment Year ended September 30 2021 2020 $ $ Depreciation of PP&E (Note 6) 144,423 156,590 Depreciation of right-of-use assets (Note 7) 160,240 168,239 Impairment of right-of-use assets (Note 7) 956 3,269 Amortization of contract costs related to transition costs 61,369 55,905 Impairment of contract costs related to transition costs 4,592 4,047 Amortization of intangible assets (Note 9) 129,861 157,378 Impairment of intangible assets (Note 9) 4,121 10,633 Included in costs of services, selling and administrative (Note 23) 505,562 556,061 Amortization of contract costs related to incentives (presented as a reduction of revenue) 2,611 2,535 Amortization of deferred financing fees (presented in finance costs) 875 890 Amortization of premiums and discounts on investments related to funds held for clients (presented net as a (increase) reduction of revenue) (102) 79 Impairment of PP&E (presented in restructuring costs) (Note 6 and 13) — 1,035 Impairment of right-of-use assets (presented in restructuring costs) (Note 7 and 13) — 5,092 Impairment of PP&E (presented in integration costs) (Note 6) 1,113 — Impairment of right-of-use assets (presented in integration costs) (Note 7) 511 — 510,570 565,692 |
Net finance costs
Net finance costs | 12 Months Ended |
Sep. 30, 2021 | |
Analysis of income and expense [abstract] | |
Net finance costs | Net finance costs Year ended September 30 2021 2020 $ $ Interest on long-term debt 67,467 75,667 Interest on lease liabilities 33,255 33,017 Net interest costs on net defined benefit obligations or assets (Note 17) 2,413 1,876 Other finance costs 6,774 9,029 Finance costs 109,909 119,589 Finance income (3,111) (5,115) 106,798 114,474 |
Investments in subsidiaries
Investments in subsidiaries | 12 Months Ended |
Sep. 30, 2021 | |
Business Combinations [Abstract] | |
Investments in subsidiaries | Investments in subsidiaries a) Business acquisitions realized in current fiscal year The Company made the following acquisitions during the year ended September 30, 2021: – On December 31, 2020, the Company acquired the assets of Harris, Mackessy & Brennan, Inc.’s Professional Services Division (HMB), for a purchase price of $30,340,000. Based in the United States, the division focused on high-end technology consulting and services for commercial and government clients and is headquartered in Columbus, Ohio. – On May 3, 2021, the Company acquired all of the outstanding shares of Sense Corp, for a purchase price of $81,173,000. Based in the United States, the professional services firm focused on digital systems integration and consulting for state and local government and commercial clients and is headquartered in Saint-Louis, Missouri. 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: 2021 $ Current assets 17,746 PP&E (Note 6) 1,869 Right-of-use assets (Note 7) 4,982 Intangible assets (Note 9) 22,107 Deferred tax assets 749 Goodwill 1 (Note 12) 75,697 Current liabilities (11,859) Lease liabilities (5,733) 105,558 Cash acquired 5,955 Net assets acquired 111,513 Consideration paid 104,148 Consideration payable 7,365 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, 2021, $75,697,000 of the goodwill is included in the U.S. Commercial and State Government operating segment. An amount of goodwill of $23,985,000 is deductible for tax purposes. 26. Investments in subsidiaries (continued) a) Business acquisitions realized in current fiscal year (continued) During the year ended September 30, 2021, the Company finalized the fair value of assets acquired and liabilities assumed for HMB and Sense Corp. For the year ended September 30, 2021, the above acquisitions would have contributed approximately $100,000,000 of revenues and $8,000,000 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, 2020. These pro-forma figures are estimated based on the historical financial performance of the acquired businesses prior to the business combinations and do not include any financial synergies. These acquisitions were made to further expand CGI’s footprint in the region and to complement CGI's proximity model. b) Subsequent events On October 1, 2021, the Company acquired all of the outstanding shares of Array Holding Company, Inc. (Array), for a purchase price of $63,279,000. Based in the United States, Array is a leading digital services provider that optimizes mission performance for the U.S. Department of Defense and other government organizations and is headquartered in Greenbelt, Maryland . On October 28, 2021, the Company acquired all of the outstanding shares of Cognicase Management Consulting (CMC), for a purchase price of $93,080,000. Based in Spain, CMC is a leading provider of technology and management consulting services and solutions, headquartered in Madrid. The acquisition will be reported under the Western and Southern Europe operating segment. Due to the limited period of time between the date of the CMC acquisition and the filing of the Company's consolidated financial statements for the year ended September 30, 2021, it was impracticable to provide certain business acquisitions required disclosures, including the fair value of assets acquired and liabilities assumed. The Company will issue the preliminary assessments in its interim condensed consolidated financial statements for the three months ending December 31, 2021. These acquisitions were made to further expand CGI’s footprint in the regions and to complement CGI's proximity model. c) Business acquisitions realized in the prior 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. 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. 26. Investments in subsidiaries (continued) c) Business acquisitions realized in the prior fiscal year (continued) 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. During the year ended September 30, 2020, the fair value of assets acquired and liabilities assumed for SCISYS, TeraThink and Meti were preliminary. 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 1 144,712 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. During the year ended September 30, 2021, the Company finalized the fair value of assets acquired and liabilities assumed for TeraThink with no significant adjustments. During the year ended September 30, 2021, the Company finalized the fair value of assets acquired and liabilities assumed for SCISYS and Meti with adjustments resulting mainly in an increase of business solutions acquired and a decrease of client relationships. d) Acquisition-related and integration costs During the year ended September 30, 2021, the Company expensed $7,371,000, for acquisition-related and integration costs. This amount includes acquisition-related costs of $293,000, and integration costs of $7,078,000. The acquisition-related costs consist mainly of professional fees incurred for the acquisitions. The integration costs include terminations of employment of $1,008,000, accounted for in restructuring provisions, and other integration costs of $6,070,000. During the year ended September 30, 2020, the Company expensed $76,794,000, for acquisition-related and integration costs. This amount included acquisition-related costs of $6,545,000, and integration costs of $70,249,000. The acquisition-related costs consisted mainly of professional fees incurred for the acquisitions. The integration costs included terminations of employment of $49,390,000, accounted for in restructuring provisions, and other integration costs of $20,859,000. e) Disposal There was no significant disposal during the years ended September 30, 2021 and 2020. |
Supplementary cash flow informa
Supplementary cash flow information | 12 Months Ended |
Sep. 30, 2021 | |
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: 2021 2020 $ $ Accounts receivable (42,336) 225,441 Work in progress (12,354) 79,809 Prepaid expenses and other assets (33,631) 21,342 Long-term financial assets (10,241) (12,081) Accounts payable and accrued liabilities 60,822 (105,239) Accrued compensation and employee-related liabilities 233,670 (19,061) Deferred revenue 62,307 (48,264) Income taxes 59,620 (56,627) Provisions (105,292) 76,671 Long-term liabilities 1,535 59,822 Derivative financial instruments (249) 373 Retirement benefits obligations 1,013 (4,022) 214,864 218,164 b) Non-cash operating and investing activities related to operations are as follows for the years ended September 30: 2021 2020 $ $ Operating activities Accounts payable and accrued liabilities 18,707 4,788 Provisions 805 690 19,512 5,478 Investing activities Purchase of PP&E (18,162) (4,698) Additions, disposals/retirements, change in estimates and lease modifications of right-of-use assets (104,467) (102,584) Additions to intangible assets (1,350) (780) (123,979) (108,062) 27. Supplementary cash flow information (continued) c) Changes arising from financing activities are as follows for the years ended September 30: 2021 2020 Long-term debt Derivative financial instruments to hedge long-term debt Lease liabilities Long-term debt Derivative financial instruments to hedge long-term debt Lease liabilities $ $ $ $ $ $ Balance, beginning of year 3,587,095 32,234 876,370 2,331,207 (29,894) — Adoption of IFRS 16 (Note 3) — — — (30,339) — 911,525 Opening balance 3,587,095 32,234 876,370 2,300,868 (29,894) 911,525 Cash used in financing activities excluding equity Net change in unsecured committed revolving credit facility — — — (334,370) — — Increase of long-term debt 1,885,262 — — 1,807,167 — — Repayment of long-term debt and lease liabilities (1,888,777) — (174,808) (106,496) — (175,320) Repayment of debt assumed in business acquisitions — — — (28,281) — — Settlement of derivative financial instruments (Note 31) — (6,992) — — (3,903) — Non-cash financing activities Additions, disposals/retirements and change in estimates and lease modifications of right-of-use assets — — 102,281 — — 102,584 Additions through business acquisitions (Note 26) — — 5,733 19,333 — 13,592 Changes in foreign currency exchange rates (172,984) (8,055) (30,721) (77,126) 66,031 31,766 Other (8,940) — (1,915) 6,000 — (7,777) Balance, end of year 3,401,656 17,187 776,940 3,587,095 32,234 876,370 d) Interest paid and received and income taxes paid are classified within operating activities and are as follows for the years ended September 30: 2021 2020 $ $ Interest paid 131,646 131,433 Interest received 15,929 21,951 Income taxes paid 382,833 390,867 e) Cash and cash equivalents consisted of unrestricted cash as at September 30, 2021 and 2020. |
Segmented information
Segmented information | 12 Months Ended |
Sep. 30, 2021 | |
Disclosure of operating segments [abstract] | |
Segmented information | Segmented information The following tables present information on the Company's operations based on its current management structure. Segment results are based on the location from which the services are delivered - the geographic delivery model (Note 12). Year ended September 30, 2021 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 1,963,791 1,800,747 1,755,804 1,607,431 1,355,603 1,303,917 1,027,902 768,994 680,554 (137,950) 12,126,793 Segment earnings before acquisition-related and integration costs, net finance costs and income tax expense 1 271,324 281,217 390,370 252,657 218,624 149,935 66,180 114,358 207,496 — 1,952,161 Acquisition-related and integration costs (Note 26d) (7,371) Net finance costs (Note 25) (106,798) Earnings before income taxes 1,837,992 1 Total amortization and depreciation of $508,071,000 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 $63,511,000, $71,037,000, $65,038,000, $49,636,000, $57,888,000, $70,076,000, $64,371,000, $39,275,000 and $27,239,000, respectively for the year ended September 30, 2021. Amortization includes impairments of $8,713,000 from business solutions and contract costs which are mainly included in Western and Southern Europe for $3,058,000 related to a business solution and in Finland, Poland and Baltics for $3,490,000 related to contract costs. These assets were no longer expected to generate future economic benefits. 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 26d) (76,794) Restructuring costs (155,411) Net finance costs (Note 25) (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. 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. 28. 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 inter-segment revenue, for the years ended September 30: 2021 2020 $ $ Western and Southern Europe France 1,721,622 1,672,355 Portugal 105,776 103,847 Others 128,925 138,503 1,956,323 1,914,705 U.S. 1 3,510,193 3,637,070 Canada 1,892,246 1,820,265 U.K. and Australia U.K. 1,487,774 1,508,719 Australia 67,916 63,708 1,555,690 1,572,427 Central and Eastern Europe Germany 786,426 718,166 Netherlands 479,597 465,340 Others 76,211 68,537 1,342,234 1,252,043 Scandinavia Sweden 782,581 835,682 Others 290,680 322,711 1,073,261 1,158,393 Finland, Poland and Baltics Finland 754,412 766,732 Others 37,660 37,269 792,072 804,001 Asia Pacific Others 4,774 5,211 4,774 5,211 12,126,793 12,164,115 1 External revenue included in the U.S Commercial and State Government and U.S. Federal operating segments was $1,889,999,000 and $1,620,194,000, respectively in 2021 ($1,902,661,000 and $1,734,409,000, respectively in 2020). 28. Segmented information (continued) GEOGRAPHIC INFORMATION (CONTINUED) The following table provides information for PP&E, right-of-use assets, contract costs and intangible assets based on their location: As at As at $ $ U.S. 488,262 487,698 Canada 388,408 412,469 U.K. 132,897 138,391 France 120,360 137,307 Sweden 140,409 162,506 Finland 89,451 93,948 Germany 105,998 107,809 Netherlands 45,082 64,551 Rest of the world 164,787 195,970 1,675,654 1,800,649 INFORMATION ABOUT SERVICES The following table provides revenue information based on services provided by the Company for the year ended September 30: 2021 2020 $ $ Business consulting, strategic IT consulting and systems integration 5,403,826 5,554,622 Managed IT and business process services 6,722,967 6,609,493 12,126,793 12,164,115 MAJOR CLIENT INFORMATION Contracts with the U.S. federal government and its various agencies, included within the U.S. Federal operating segment, accounted for $1,550,345,000 and 12.8% of revenues for the year ended September 30, 2021 ($1,675,326,000 and 13.8% for the year ended September 30, 2020). |
Related party transactions
Related party transactions | 12 Months Ended |
Sep. 30, 2021 | |
Related party transactions [abstract] | |
Related party transactions | Related party transactions During the year ended September 30, 2021, the Company entered into a share conversion transaction with a related party as described in Note 19. As a result, the Company and related subsidiaries are controlled by the Founder and Executive Chairman of the Board. 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 Deutschland B.V. & Co KG Germany CGI Sverige AB Sweden 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: 2021 2020 $ $ Short-term employee benefits 30,325 14,462 Share-based payments 19,727 18,374 |
Commitments, contingencies and
Commitments, contingencies and guarantees | 12 Months Ended |
Sep. 30, 2021 | |
Other Provisions, Contingent Liabilities And Contingent Assets [Abstract] | |
Commitments, contingencies and guarantees | Commitments, contingencies and guarantees a) Commitments As at September 30, 2021, the Company entered into long-term service agreements representing a total commitment of $279,823,000. Minimum payments under these agreements are due as follows: $ Less than one year 148,663 Between one and three years 91,690 Between three and five years 38,981 Beyond five years 489 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 a maturity date. 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, 2021. 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, 2021, the Company had committed a total of $21,419,000 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 $69,683,000 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, 2021 | |
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. unsecured notes, the 2021 U.S. Senior Notes, the 2021 CAD Senior Notes, the unsecured committed revolving credit facility, the unsecured committed term loan credit facility 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 and short-term investments included in current financial assets 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, 2021, 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, 2021 As at September 30, 2020 Level Carrying amount Fair value Carrying amount Fair value $ $ $ $ Senior U.S. unsecured notes Level 2 888,307 936,084 1,211,965 1,297,632 2021 U.S. Senior Notes Level 2 1,253,226 1,255,055 — — 2021 CAD Senior Notes Level 2 595,331 585,506 — — Other long-term debt Level 2 31,169 30,345 44,842 43,536 2,768,033 2,806,990 1,256,807 1,341,168 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. 31. 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, 2021 As at September 30, 2020 $ $ Financial assets FVTE Cash and cash equivalents Level 2 1,699,206 1,707,985 Deferred compensation plan assets (Note 11) Level 1 81,633 73,156 1,780,839 1,781,141 Derivative financial instruments designated as Current derivative financial instruments included in current Level 2 Cross-currency swaps 4,146 — Foreign currency forward contracts 12,745 17,027 Interest rate swaps 1,043 — Long-term derivative financial instruments (Note 11) Level 2 Cross-currency swaps 24,347 25,362 Foreign currency forward contracts 9,231 8,636 Interest rate swaps — 6,180 51,512 57,205 FVOCI Short-term investments included in current financial assets Level 2 1,027 1,473 Long-term bonds included in funds held for clients (Note 5) Level 2 136,629 148,470 Long-term investments (Note 11) Level 2 19,354 22,612 157,010 172,555 Financial liabilities Derivative financial instruments designated as Current derivative financial instruments Level 2 Cross-currency swaps 5,762 5,320 Foreign currency forward contracts 735 3,008 Long-term derivative financial instruments Level 2 Cross-currency swaps 39,918 52,275 Foreign currency forward contracts 1,866 4,347 48,281 64,950 There have been no transfers between Level 1 and Level 2 for the years ended September 30, 2021 and 2020. 31. 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 these 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 1,043 6,180 Senior U.S. unsecured note with a carrying value of $318,009,000, includes an accumulated amount of fair value hedge adjustments of $1,132,000 as at September 30, 2021. 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 carrying amount. 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. operations into Canadian dollar, with Senior U.S. unsecured notes. As of September 30, 2021, the Senior U.S. unsecured notes of a carrying value of $1,742,324,000 and a nominal amount of $1,741,252,000 have been designated as hedging instruments to hedge portions of the Company’s net investments in its U.S. operations. The Company also hedges a portion of the translation of the Company’s net investments in its European operations with cross-currency swaps. 31. 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 $228,700 From 3.41% to 3.81% €147,200 From 2.14% to 2.51% From September 2022 to 2024 12,859 189 $136,274 From 3.57% to 3.63% £75,842 From 2.67% to 2.80% September 2024 9,814 8,977 $58,419 From 3.57% to 3.68% kr371,900 From 2.12% to 2.18% September 2024 5,820 5,359 Hedges of net investments in European operations and cash flow hedges on unsecured committed term loan credit facility US$500,000 LIBOR 1 month + 1.00% €443,381 From 1.13% to 1.17% December 2023 (27,819) (45,599) Cash flow hedges of Senior U.S. unsecured notes US$315,000 From 3.74% to 4.06% $423,393 From 3.41% to 3.81% From September 2022 to 2024 (17,861) (1,159) Total (17,187) (32,233) During the year ended September 30, 2021, the Company settled cross-currency swaps with a notional amount of $145,500,000 for a net amount of $6,992,000. 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, 2021, 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 US$146,367 76.52 82.88 4,002 2,473 CAD/INR $266,077 59.50 63.87 882 6,196 EUR/INR €86,244 92.21 99.38 6,650 4,731 GBP/INR £70,552 102.82 111.37 2,390 4,522 SEK/INR kr151,588 8.60 9.04 (10) 477 EUR/GBP €31,955 0.89 0.89 1,033 (1,210) EUR/MAD €32,196 10.67 10.99 2,064 2,534 EUR/CZK €17,704 26.63 26.81 758 (1,039) EUR/SEK €19,185 10.66 10.75 1,396 120 Others $60,293 210 (496) Total 19,375 18,308 31. 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. 2021 2020 Swedish krona impact U.S. dollar impact euro British pound impact Swedish U.S. dollar euro British pound impact $ $ $ $ $ $ $ $ Increase in net earnings 171 1,416 1,294 1,227 317 1,215 190 931 Decrease in other comprehensive (loss) income (8,287) (187,587) (83,334) (25,622) (11,047) (233,182) (116,136) (29,080) LIQUIDITY RISK Liquidity risk that an entity will encounter difficulty in meeting obligations associated with financial liabilities that are settled by delivering cash or another financial assets. 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. 31. 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, 2021 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 891,374 891,374 891,374 — — — Accrued compensation and employee-related 1,084,014 1,084,014 1,084,014 — — — Senior U.S. unsecured notes 888,307 955,768 410,738 545,030 — — 2021 U.S. Senior Notes 1,253,226 1,439,360 22,690 45,380 805,940 565,350 2021 CAD Senior Notes 595,331 688,269 12,669 25,200 25,200 625,200 Unsecured committed term loan credit 633,623 649,498 7,043 642,455 — — Lease liabilities 776,940 877,498 192,750 318,993 180,593 185,162 Other long-term debt 31,169 32,071 13,133 18,337 595 6 Clients’ funds obligations 591,101 591,101 591,101 — — — Derivative financial liabilities Cash flow hedges of future revenue 2,601 Outflow 163,162 55,039 103,373 4,750 — (Inflow) (171,282) (55,756) (110,294) (5,232) — Cross-currency swaps 45,680 Outflow 1,128,791 91,667 1,037,124 — — (Inflow) (1,088,240) (85,776) (1,002,464) — — 6,793,366 7,241,384 3,230,686 1,623,134 1,011,846 1,375,718 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 814,119 814,119 814,119 — — — Accrued compensation and employee-related 884,619 884,619 884,619 — — — Senior U.S. and euro unsecured notes 1,211,965 1,325,791 321,089 519,605 485,097 — Unsecured committed term loan credit 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 31. Financial instruments (continued) LIQUIDITY RISK (CONTINUED) As at September 30, 2021, the Company held cash and cash equivalents, funds held for clients, short-term investments and long-term investments of $2,312,741,000 ($2,457,248,000 as at September 30, 2020). The Company also had available $1,493,372,000 in unsecured committed revolving credit facility ($1,490,301,000 as at September 30, 2020). As at September 30, 2021, trade accounts receivable amounted to $938,417,000 (Note 4) ($904,887,000 as at September 30, 2020). 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: 2021 2020 $ $ Not past due 818,520 775,975 Past due 1-30 days 47,702 44,278 Past due 31-60 days 21,582 29,948 Past due 61-90 days 7,402 6,407 Past due more than 90 days 46,939 53,546 942,145 910,154 Allowance for doubtful accounts (3,728) (5,267) 938,417 904,887 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, 2021 | |
Capital Risk Management [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, 2021, total managed capital was $12,884,415,000 ($13,459,695,000 as at September 30, 2020). 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/Adjusted EBITDA Net debt, capitalization and adjusted 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) and lease liabilities less cash and cash equivalents, short-term investments and long-term investments. Capitalization is shareholders’ equity plus net debt. Adjusted 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 adjusted EBITDA for its Senior U.S. unsecured notes and the ratio of total debt net of cash and cash equivalent investments to adjusted EBITDA for its unsecured committed revolving credit facility and unsecured committed term loan credit facility 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 adjusted EBITDA before rent expense 1 . - In the case of the Senior U.S. 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, 2021 | |
Disclosure Of Significant Accounting Policies [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). |
Change in accounting policy - accrued compensation and employee-related liabilities | CHANGE IN ACCOUNTING POLICY - ACCRUED COMPENSATION AND EMPLOYEE-RELATED LIABILITIES During the year ended September 30, 2021, the Company modified the presentation of employee’s related liabilities which mainly include payroll related benefits accruals and remittances due to governments to reflect a preferable classification of the nature of these items. Previously under Accounts payable and accrued liabilities these items are now included under Accrued compensation and employee-related liabilities for an amount of $229,686,000 as at September 30, 2021. An amount of $211,844,000, as at September 30, 2020, was reclassified for comparability. |
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 MEASUREMENTThe 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. 3. Summary of significant accounting policies (continued) USE OF JUDGEMENTS AND ESTIMATES (CONTINUED) 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. 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, 2021, the Company assessed the impact of the uncertainties around the COVID-19 pandemic on its balance sheet carrying amounts. This review required the use of judgements and estimates and resulted in no material impact. |
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 business process services, business consulting, strategic IT consulting and systems integration, 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. 3. Summary of significant accounting policies (continued) REVENUE RECOGNITION, WORK IN PROGRESS AND DEFERRED REVENUE (CONTINUED) 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. 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 selling 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. Business consulting, strategic IT consulting and systems integration Revenue from business consulting, strategic IT consulting and systems integration 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 business consulting, strategic IT consulting and systems integration 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 business consulting, strategic IT consulting and systems integration section above. Revenue from maintenance services for software licenses sold is recognized straight-line over the term of the maintenance period. 3. Summary of significant accounting policies (continued) REVENUE RECOGNITION, WORK IN PROGRESS AND DEFERRED REVENUE (CONTINUED) 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, 2021, the revenues recognized from the short-term deferred revenue was not significantly different than what was presented as at September 30, 2020. |
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 expectations, 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. |
Property, plant and equipment (PP&E) | PROPERTY, PLANT AND EQUIPMENT (PP&E) 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 The Company adopted IFRS 16, Leases on October 1, 2019. When the Company enters into contractual agreements, an assessment is performed to determine if the contract contains a lease. The Company identified lease agreements under the following categories: Properties, Motor vehicles 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. 3. Summary of significant accounting policies (continued) LEASES (CONTINUED) 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. The Company 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. The extension or termination options are only included in the lease term if it is reasonably certain of being exercised. 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. In addition, upon partial or full termination of a lease, the difference between the carrying amounts of the lease liability and the right-of-use asset is recorded in the consolidated statements of earnings. |
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 |
Intangible assets | INTANGIBLE ASSETS Intangible assets consist 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. 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 5 to 7 years |
Impairment of PP&E, right-of-use assets, 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 pre-tax 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 pre-tax discount rate applied to an operating segment is derived from 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. 3. Summary of significant accounting policies (continued) IMPAIRMENT OF PP&E, RIGHT-OF-USE ASSETS, INTANGIBLE ASSETS AND GOODWILL (CONTINUED) Impairment testing (continued) |
Long-term financial assets | LONG-TERM FINANCIAL ASSETSLong-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 revenue-generating contracts and onerous supplier 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 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. 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. 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 and employee-related liabilities. 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 and employee-related liabilities, 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 Short-term investments included in current financial assets, 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 acquisition or issuance of financial instruments. Transaction costs related to financial instruments other than FVTE are included in the initial recognition of the corresponding asset or liability and are amortized using effective interest method. Transaction costs related to the unsecured committed revolving credit facility are included in other long-term assets and are amortized using the straight-line method over the expected life of the underlying agreement. 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. 3. Summary of significant accounting policies (continued) 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. 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 for 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 repayable in December 2021. 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. 3. Summary of significant accounting policies (continued) DERIVATIVE FINANCIAL INSTRUMENTS AND HEDGING TRANSACTIONS (CONTINUED) 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. 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 for 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 repayable in December 2021. 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. 3. Summary of significant accounting policies (continued) DERIVATIVE FINANCIAL INSTRUMENTS AND HEDGING TRANSACTIONS (CONTINUED) 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. |
Adoption of accounting interpretation and future accounting standard changes | ADOPTION OF ACCOUNTING INTERPRETATION Configuration or customization costs in a cloud computing arrangement - IAS 38 For the year ended September 30, 2021, the Company considered and applied the IFRS Interpretations Committee agenda decision on configuration or customization costs in a cloud computing arrangement, more specifically on Software as a Service arrangements. The agenda decision clarifies that configuration or customization costs under such arrangements often do not meet the capitalization criteria under IAS 38 Intangible assets. Judgement is required to determine if the capitalization criteria are met. The adoption of the interpretation was considered retrospectively and did not have a material impact on the Company's consolidated financial statements. FUTURE ACCOUNTING STANDARD CHANGES The following standard is effective as of October 1, 2021 for the Company. IBOR reform with amendments to IFRS 9, IAS 39, 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. For financial instruments at amortized cost, the amendment introduces a practical expedient such that if a change to contractual cash flow occurs as a direct consequence of the interbank offered rates (IBORs) reform and on economically equivalent terms to the previous basis, it will not result in an immediate gain or loss recognition. As for hedge accounting, the practical expedient allows hedge instruments relationship directly affected by the reform to continue. However, additional ineffectiveness might need to be recorded. The Company has financial instruments exposed to the 1 month USD Libor rate which is planned to expire in June 2023. As at September 30, 2021, the only instruments with a maturity date subsequent to June 2023 directly impacted by the IBORs reform are the unsecured committed term loan credit facility and the related cross-currency interest rate swaps (the hedging instruments) expiring in December 2023. The implementation of this amendment will result in no impact on the Company’s consolidated financial statements on adoption date. The Company is currently managing the process to transition the existing impacted agreements to an alternative rate. The following standard has been issued and will be effective on October 1, 2022 for the Company, with earlier application permitted. The Company is currently evaluating the impact of this standard on its consolidated financial statements. Onerous contracts – Cost of Fulfilling a Contract - Amendments to IAS 37 In May, 2020, the IASB amended IAS 37 Provisions, Contingent Liabilities and Contingent Assets . The amendment clarifies that for assessing whether a contract is onerous, the cost of fulfilling the contract includes both the incremental cost of fulfilling that contract and an allocation of other costs that relates directly to fulfilling the contract. The following standards have been issued and will be effective on October 1, 2023 for the Company, with earlier application permitted. The Company is currently evaluating the impact of those standards on its consolidated financial statements. Classification of Liabilities as Current or Non-current – Amendments to IAS 1 In January, 2020, the IASB amended IAS 1 Presentation of Financial Statements . The amendment clarifies that the classification of liabilities as current or non-current is based on rights that are in existence at the end of the reporting period which only impacts the presentation of liabilities in the balance sheet. The classification is unaffected by expectations about whether the Company will exercise its right to defer settlement of a liability. Disclosure of Accounting Policy Information – Amendments to IAS 1 and IFRS Practice Statement 2 In February, 2021, the IASB amended IAS 1 Presentation of Financial Statements and IFRS Practice Statement 2 Making Materiality Judgements to require the Company to disclose its material accounting policy information rather than its significant accounting policies. 3. Summary of significant accounting policies (continued) FUTURE ACCOUNTING STANDARD CHANGES (CONTINUED) Definition of Accounting Estimates – Amendments to IAS 8 In February, 2021, the IASB amended IAS 8 Accounting Policies, Changes in Accounting estimates and Errors to introduce a definition of accounting estimates and to help entities distinguish changes in accounting policies from changes in accounting estimates. This distinction is important because changes in accounting policies must be applied retrospectively while changes in accounting estimates are accounted for prospectively. Deferred Tax related to Assets and Liabilities arising from a Single Transaction – Amendments to IAS 12 In May 2021, the IASB amended IAS 12 Income Taxes , to narrow the scope of the initial recognition exemption so that it does not apply to transactions that give rise to equal and offsetting temporary differences. |
Summary of significant accoun_3
Summary of significant accounting policies (Tables) | 12 Months Ended |
Sep. 30, 2021 | |
Disclosure Of Significant Accounting Policies [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 Leasehold improvements Furniture, fixtures and equipment Computer equipment Total $ $ $ $ $ Cost As at September 30, 2020 79,281 241,542 165,219 661,891 1,147,933 Additions 2,000 26,349 10,956 96,418 135,723 Additions - business acquisitions (Note 26a) — 1,200 208 414 1,822 Disposals/retirements — (15,284) (20,238) (142,724) (178,246) Foreign currency translation adjustment (2,374) (8,983) (5,528) (23,107) (39,992) As at September 30, 2021 78,907 244,824 150,617 592,892 1,067,240 Accumulated depreciation As at September 30, 2020 20,124 150,572 108,060 496,231 774,987 Depreciation expense (Note 24) 2,590 25,512 13,547 102,774 144,423 Impairment (Note 24) — 612 50 451 1,113 Disposals/retirements — (15,284) (20,238) (142,724) (178,246) Foreign currency translation adjustment (753) (5,400) (3,726) (17,250) (27,129) As at September 30, 2021 21,961 156,012 97,693 439,482 715,148 Net carrying amount as at September 30, 2021 56,946 88,812 52,924 153,410 352,092 Land and 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 26c ) 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 |
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 5 to 7 years Internal-use software acquired Internal-use software internally developed Business solutions acquired Business solutions internally developed Software Client relationships Total $ $ $ $ $ $ $ Cost As at September 30, 2020 96,900 131,298 76,278 571,015 190,372 1,187,862 2,253,725 Additions 107 7,712 — 85,572 21,086 — 114,477 Additions - business acquisitions (Note 26a) — — 8,081 — — 14,026 22,107 Disposals/retirements (16,427) (39,284) (3,242) (9,041) (39,656) — (107,650) Foreign currency translation adjustment (1,370) (835) (2,476) (22,696) (4,428) (47,268) (79,073) As at September 30, 2021 79,210 98,891 78,641 624,850 167,374 1,154,620 2,203,586 Accumulated amortization As at September 30, 2020 84,431 79,745 75,170 338,122 142,456 1,012,339 1,732,263 Amortization expense (Note 24) 5,464 13,882 3,043 44,439 24,963 38,070 129,861 Impairment (Note 24) — — — 4,121 — — 4,121 Disposals/retirements (16,427) (39,284) (3,242) (9,041) (39,656) — (107,650) Foreign currency translation adjustment (1,165) (509) (2,240) (12,044) (3,562) (42,282) (61,802) As at September 30, 2021 72,303 53,834 72,731 365,597 124,201 1,008,127 1,696,793 Net carrying amount as at September 30, 6,907 45,057 5,910 259,253 43,173 146,493 506,793 Internal-use software acquired Internal-use software internally developed Business solutions acquired Business solutions internally developed Software 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 26c) — — — — 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 |
Accounts receivable (Tables)
Accounts receivable (Tables) | 12 Months Ended |
Sep. 30, 2021 | |
Subclassifications of assets, liabilities and equities [abstract] | |
Disclosure of accounts receivable | As at As at $ $ Trade (Note 31) 938,417 904,887 R&D and other tax credits 1 187,347 180,953 Other 105,688 133,462 1,231,452 1,219,302 1 |
Funds held for clients (Tables)
Funds held for clients (Tables) | 12 Months Ended |
Sep. 30, 2021 | |
Subclassifications of assets, liabilities and equities [abstract] | |
Disclosure of funds held for clients | As at As at $ $ Cash 456,525 576,708 Long-term bonds (Note 31) 136,629 148,470 593,154 725,178 |
Property, plant and equipment (
Property, plant and equipment (Tables) | 12 Months Ended |
Sep. 30, 2021 | |
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 Leasehold improvements Furniture, fixtures and equipment Computer equipment Total $ $ $ $ $ Cost As at September 30, 2020 79,281 241,542 165,219 661,891 1,147,933 Additions 2,000 26,349 10,956 96,418 135,723 Additions - business acquisitions (Note 26a) — 1,200 208 414 1,822 Disposals/retirements — (15,284) (20,238) (142,724) (178,246) Foreign currency translation adjustment (2,374) (8,983) (5,528) (23,107) (39,992) As at September 30, 2021 78,907 244,824 150,617 592,892 1,067,240 Accumulated depreciation As at September 30, 2020 20,124 150,572 108,060 496,231 774,987 Depreciation expense (Note 24) 2,590 25,512 13,547 102,774 144,423 Impairment (Note 24) — 612 50 451 1,113 Disposals/retirements — (15,284) (20,238) (142,724) (178,246) Foreign currency translation adjustment (753) (5,400) (3,726) (17,250) (27,129) As at September 30, 2021 21,961 156,012 97,693 439,482 715,148 Net carrying amount as at September 30, 2021 56,946 88,812 52,924 153,410 352,092 Land and 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 26c ) 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 |
Right-of-use assets (Tables)
Right-of-use assets (Tables) | 12 Months Ended |
Sep. 30, 2021 | |
Right-Of-Use Assets [Abstract] | |
Disclosure of quantitative information about right-of-use assets | Properties Motor vehicles and others Computer Total $ $ $ $ Cost As at September 30, 2020 1,124,258 233,976 40,965 1,399,199 Additions 60,318 21,955 828 83,101 Additions - business acquisitions (Note 26a) 4,982 — — 4,982 Change in estimates and lease modifications 33,774 — — 33,774 Disposals/retirements (99,373) (73,190) (2,183) (174,746) Foreign currency translation adjustment (43,092) (8,387) (517) (51,996) As at September 30, 2021 1,080,867 174,354 39,093 1,294,314 Accumulated depreciation As at September 30, 2020 605,155 97,573 29,606 732,334 Depreciation expense (Note 24) 111,899 41,766 6,575 160,240 Impairment (Note 24) 1,467 — — 1,467 Disposals/retirements (87,557) (67,464) (2,183) (157,204) Foreign currency translation adjustment (24,406) (3,900) (424) (28,730) As at September 30, 2021 606,558 67,975 33,574 708,107 Net carrying amount as at September 30, 2021 474,309 106,379 5,519 586,207 Properties Motor vehicles and others Computer 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 26c) 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) 501,821 114,097 24,787 640,705 As at October 1, 2019 501,821 114,097 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 605,155 97,573 29,606 732,334 Net carrying amount as at September 30, 2020 519,103 136,403 11,359 666,865 |
Contract costs (Tables)
Contract costs (Tables) | 12 Months Ended |
Sep. 30, 2021 | |
Revenue From Contracts With Customers [Abstract] | |
Disclosure of contract costs | As at September 30, 2021 As at September 30, 2020 Cost Accumulated amortization Net carrying amount Cost Accumulated amortization Net carrying amount $ $ $ $ $ $ Transition costs 487,106 262,311 224,795 477,174 246,468 230,706 Incentives 52,200 46,433 5,767 67,545 58,875 8,670 539,306 308,744 230,562 544,719 305,343 239,376 |
Intangible assets (Tables)
Intangible assets (Tables) | 12 Months Ended |
Sep. 30, 2021 | |
Intangible assets other than goodwill [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 5 to 7 years Internal-use software acquired Internal-use software internally developed Business solutions acquired Business solutions internally developed Software Client relationships Total $ $ $ $ $ $ $ Cost As at September 30, 2020 96,900 131,298 76,278 571,015 190,372 1,187,862 2,253,725 Additions 107 7,712 — 85,572 21,086 — 114,477 Additions - business acquisitions (Note 26a) — — 8,081 — — 14,026 22,107 Disposals/retirements (16,427) (39,284) (3,242) (9,041) (39,656) — (107,650) Foreign currency translation adjustment (1,370) (835) (2,476) (22,696) (4,428) (47,268) (79,073) As at September 30, 2021 79,210 98,891 78,641 624,850 167,374 1,154,620 2,203,586 Accumulated amortization As at September 30, 2020 84,431 79,745 75,170 338,122 142,456 1,012,339 1,732,263 Amortization expense (Note 24) 5,464 13,882 3,043 44,439 24,963 38,070 129,861 Impairment (Note 24) — — — 4,121 — — 4,121 Disposals/retirements (16,427) (39,284) (3,242) (9,041) (39,656) — (107,650) Foreign currency translation adjustment (1,165) (509) (2,240) (12,044) (3,562) (42,282) (61,802) As at September 30, 2021 72,303 53,834 72,731 365,597 124,201 1,008,127 1,696,793 Net carrying amount as at September 30, 6,907 45,057 5,910 259,253 43,173 146,493 506,793 Internal-use software acquired Internal-use software internally developed Business solutions acquired Business solutions internally developed Software 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 26c) — — — — 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 |
Other long-term assets (Tables)
Other long-term assets (Tables) | 12 Months Ended |
Sep. 30, 2021 | |
Subclassifications of assets, liabilities and equities [abstract] | |
Disclosure of other long-term assets | As at As at $ $ Prepaid long-term maintenance agreements 32,019 17,567 Insurance contracts held to fund defined benefit pension and life assurance arrangements - reimbursement rights (Note 17) 21,250 24,033 Retirement benefits assets (Note 17) 106,228 86,127 Deposits 15,641 13,312 Deferred financing fees 2,533 3,408 Other 13,841 19,292 191,512 163,739 |
Long-term financial assets (Tab
Long-term financial assets (Tables) | 12 Months Ended |
Sep. 30, 2021 | |
Subclassifications of assets, liabilities and equities [abstract] | |
Disclosure of long-term financial assets | As at As at $ $ Deferred compensation plan assets (Notes 17 and 31) 81,633 73,156 Long-term investments (Note 31) 19,354 22,612 Long-term receivables 18,093 20,623 Long-term derivative financial instruments (Note 31) 33,578 40,178 152,658 156,569 |
Goodwill (Tables)
Goodwill (Tables) | 12 Months Ended |
Sep. 30, 2021 | |
Intangible assets and goodwill [abstract] | |
Disclosure of movements in goodwill | The movements 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, 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 Business acquisitions (Note 26) (994) 75,697 — (2,740) (276) 1,812 — — — 73,499 Foreign currency translation adjustment (65,755) (53,232) — (48,640) (8,775) (56,300) (29,300) (39,888) (11,839) (313,729) As at September 30, 2021 1,022,350 1,169,772 1,142,148 947,782 895,921 931,361 1,140,573 619,990 269,804 8,139,701 |
Key assumptions for cash-generating units | The key assumptions for the CGUs are disclosed in the following tables for the years ended September 30: 2021 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 10.0 8.5 9.1 8.1 8.8 9.4 9.3 9.5 18.5 Long-term growth rate of net operating cash flows 1 1.6 2.0 2.0 2.0 1.9 1.8 1.8 1.7 2.0 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 1 The long-term growth rate is based on the lower of published industry research growth and 2.0%. |
Provisions (Tables)
Provisions (Tables) | 12 Months Ended |
Sep. 30, 2021 | |
Provisions [abstract] | |
Disclosure of movement in provisions | Restructuring 1, 4 Decommissioning liabilities 2 Others 3 Total $ $ $ $ As at September 30, 2020 115,272 26,561 57,687 199,520 Additional provisions 1,008 2,239 52,728 55,975 Utilized amounts (93,340) (2,677) (50,880) (146,897) Reversals of unused amounts — (437) (11,958) (12,395) Discount rate adjustment and imputed interest — 117 — 117 Foreign currency translation adjustment (3,292) (951) (1,952) (6,195) As at September 30, 2021 19,648 24,852 45,625 90,125 Current portion 19,289 4,466 39,794 63,549 Non-current portion 359 20,386 5,831 26,576 1 See Note 26d), Investments in subsidiaries. 2 As at September 30, 2021, the decommissioning liabilities were based on the expected cash flows of $25,491,000 and were discounted at a weighted average rate of 0.57%. The timing of settlements of these obligations ranges between one 3 As at September 30, 2021, others included onerous revenue-generating contracts, litigation and claims and onerous supplier contracts. 4 During the year ended September 30, 2020, the Company recorded $155,411,000 of restructuring costs related to announced restructuring plans. This amount included 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. |
Long-term debt (Tables)
Long-term debt (Tables) | 12 Months Ended |
Sep. 30, 2021 | |
Borrowings [abstract] | |
Disclosure of long-term debt | As at As at $ $ Senior U.S. unsecured note repayable of $316,900 (U.S.$250,000) in December 2021 1 318,009 339,682 Senior unsecured notes repayable in September by tranches of $380,280 (U.S.$300,000) in 2024 and $190,140 (U.S.$150,000) in three yearly repayments of U.S.$50,000 from 2022 to 2024 2 570,298 872,283 Senior U.S. unsecured notes repayable of $760,560 (U.S.$600,000) in September 2026 and $507,040 (U.S.$400,000) in September 2031 3 1,253,226 — Senior unsecured notes repayable of $600,000 in September 2028 4 595,331 — Unsecured committed term loan credit facilities 5 633,623 2,330,288 Other long-term debt 31,169 44,842 3,401,656 3,587,095 Current portion 392,727 310,764 3,008,929 3,276,331 1 As at September 30, 2021, an amount of $316,900,000 was borrowed, plus fair value adjustments relating to interest rate swaps designated as fair value hedges of $1,132,000 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 a fixed interest rate of 4.99%. The Senior U.S. unsecured note contains covenants that require the Company to maintain certain financial ratios (Note 32). As at September 30, 2021, the Company was in compliance with these covenants. 2 As at September 30, 2021, an amount of $570,420,000 was borrowed, less financing fees. The private placement is comprised of two tranches of Senior U.S. unsecured notes with a weighted average maturity of 2.6 years and a weighted average interest rate of 3.95% (3.64% in 2020). In September 2021, the Company repaid the fourth 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 $63,220,000 and settled the related cross-currency swaps (Note 31). In September 2021, the Company repaid the scheduled repayment of U.S.$55,000,000 on another tranche of the Senior U.S. unsecured notes for a total amount of $69,542,000 and settled the related cross-currency swaps (Note 31). In September 2021, the Company also repaid the scheduled repayment of €85,000,000 of the Senior euro unsecured notes for a total amount of $126,914,000. The Senior unsecured notes contain covenants that require the Company to maintain certain financial ratios (Note 32). As at September 30, 2021, the Company was in compliance with these covenants. 3 During the year ended September 30, 2021, the Company issued Senior U.S. unsecured notes (2021 U.S. Senior Notes) for a total principal amount of U.S.$1,000,000,000. This issuance is comprised of two series of Senior U.S. unsecured notes with a weighted average maturity of 7 years and a weighted average interest rate of 1.79%. As at September 30, 2021, an amount of $1,267,600,000 was borrowed, less financing fees. 4 During the year ended September 30, 2021, the Company issued Senior unsecured notes (2021 CAD Senior Notes) for a total principal amount of $600,000,000. This issuance is due in September 2028, with an interest rate of 2.10%. As at September 30, 2021, an amount of $600,000,000 was borrowed, less financing fees. |
Other long-term liabilities (Ta
Other long-term liabilities (Tables) | 12 Months Ended |
Sep. 30, 2021 | |
Subclassifications of assets, liabilities and equities [abstract] | |
Disclosure of other long-term liabilities | As at As at $ $ Deferred revenue 59,349 38,466 Deferred compensation plan liabilities (Note 17) 91,943 82,221 Other 1 51,370 64,687 202,662 185,374 1 |
Income taxes (Tables)
Income taxes (Tables) | 12 Months Ended |
Sep. 30, 2021 | |
Income Taxes [Abstract] | |
Disclosure of income tax expense | Year ended September 30 2021 2020 $ $ Current income tax expense Current income tax expense in respect of the current year 475,833 416,563 Adjustments recognized in the current year in relation to the income tax expense of prior years 19,021 (24,328) Total current income tax expense 494,854 392,235 Deferred income tax (recovery) expense Deferred income tax recovery relating to the origination and reversal of temporary differences (6,165) (1,120) Deferred income tax recovery relating to changes in tax rates (460) (3,479) Adjustments recognized in the current year in relation to the deferred income tax recovery of prior (19,309) 10,769 Total deferred income tax (recovery) expense (25,934) 6,170 Total income tax expense 468,920 398,405 |
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 2021 2020 % % Company's statutory tax rate 26.5 26.5 Effect of foreign tax rate differences (1.0) (0.9) Final determination from agreements with tax authorities and expirations of statutes of limitations 0.2 (0.9) Non-deductible and tax exempt items (0.4) 0.2 Recognition of previously unrecognized temporary differences (0.2) — Effect of integration-related costs — 0.7 Minimum income tax charge 0.4 0.9 Changes in tax laws and rates — (0.2) Effective income tax rate 25.5 26.3 |
Disclosure of continuity of deferred tax balance | The continuity schedule of deferred tax balances is as follows: As at Additions Recognized in earnings Recognized Recognized Foreign currency translation adjustment and other As at $ $ $ $ $ $ $ Accounts payable and accrued 64,208 (2,427) (7,553) (1) — (3,071) 51,156 Tax benefits on losses carried 46,228 4,654 (6,284) — — (1,417) 43,181 Accrued compensation and 27,420 — 7,811 — 6,137 (1,260) 40,108 Retirement benefits obligations 23,166 — 2,573 (5,919) — (2,259) 17,561 Lease liabilities 222,997 — (36,103) — — (7,576) 179,318 PP&E, contract costs, intangible (136,460) (3,905) 14,280 — — 4,776 (121,309) Right-of-use assets (171,835) — 31,255 — — 5,772 (134,808) Work in progress (34,277) — 11,139 — — 948 (22,190) Goodwill (64,209) — (10,493) — — 3,857 (70,845) Refundable tax credits on (22,724) — 3,051 — — — (19,673) Cash flow hedges (475) — 675 (6,157) — 331 (5,626) Other 1,104 — 15,583 (8,542) — (698) 7,447 Deferred taxes, net (44,857) (1,678) 25,934 (20,619) 6,137 (597) (35,680) As at September 30, 2019 Adoption of IFRS 16 (Note 3) As at October Additions Recognized in earnings Recognized Recognized in equity Foreign currency translation As at $ $ $ $ $ $ $ $ $ Accounts payable and accrued 67,926 (17,150) 50,776 47 12,819 (7) — 573 64,208 Tax benefits on losses carried 59,163 — 59,163 886 (17,492) — — 3,671 46,228 Accrued compensation and 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 (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 (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) The deferred tax balances are presented as follows in the consolidated balance sheets: As at As at $ $ Deferred tax assets 96,358 113,484 Deferred tax liabilities (132,038) (158,341) (35,680) (44,857) |
Employee benefits (Tables)
Employee benefits (Tables) | 12 Months Ended |
Sep. 30, 2021 | |
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, 2021 U.K. Germany France Other Total $ $ $ $ $ Defined benefit obligations (881,008) (94,381) (77,006) (82,159) (1,134,554) Fair value of plan assets 986,359 12,234 661 37,040 1,036,294 105,351 (82,147) (76,345) (45,119) (98,260) Fair value of reimbursement rights — 20,823 — 427 21,250 Net asset (liability) recognized in the balance sheet 105,351 (61,324) (76,345) (44,692) (77,010) Other long-term assets (Note 10) Insurance contracts held to fund defined — 20,823 — 427 21,250 Retirement benefits assets 105,351 — — 877 106,228 Retirement benefits obligations — (82,147) (76,345) (45,996) (204,488) 105,351 (61,324) (76,345) (44,692) (77,010) 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) Other long-term assets (Note 10) Insurance contracts held to fund defined — 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) 17. Employee benefits (continued) DEFINED BENEFIT PLANS (CONTINUED) Defined benefit obligations U.K. Germany France Other Total $ $ $ $ $ As at September 30, 2020 891,628 104,090 84,442 83,584 1,163,744 Current service cost 1,114 665 6,004 8,095 15,878 Interest cost 13,490 642 529 2,867 17,528 Past service cost 346 — — — 346 Actuarial losses (gains) due to change in financial assumptions 1 21,722 (1,201) (2,922) (1,125) 16,474 Actuarial (gains) losses due to experience 1 (9,994) 521 (3,498) (559) (13,530) Plan participant contributions 92 — — — 92 Benefits paid from the plan (29,936) (1,053) — (3,521) (34,510) Benefits paid directly by employer — (2,954) (2,492) (2,242) (7,688) Foreign currency translation adjustment 1 (7,454) (6,329) (5,057) (4,940) (23,780) As at September 30, 2021 881,008 94,381 77,006 82,159 1,134,554 Defined benefit obligations of unfunded plans — — 77,006 40,491 117,497 Defined benefit obligations of funded plans 881,008 94,381 — 41,668 1,017,057 As at September 30, 2021 881,008 94,381 77,006 82,159 1,134,554 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 26c) — — 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 — — 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 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, 2020 977,137 35,271 692 35,357 1,048,457 Interest income on plan assets 14,795 216 5 1,507 16,523 Employer contributions 1,640 3,462 2,492 7,649 15,243 Return on assets excluding interest income 1 32,252 384 7 1,836 34,479 Plan participants contributions 92 — — 393 485 Benefits paid from the plan (29,936) (1,053) — (3,521) (34,510) Benefits paid directly by employer — (2,954) (2,492) (2,242) (7,688) Administration expenses paid from the plan (1,400) — — (8) (1,408) Foreign currency translation adjustment 1 (8,221) (2,269) (43) (3,504) (14,037) As at September 30, 2021 986,359 33,057 661 37,467 1,057,544 Plan assets 986,359 12,234 661 37,040 1,036,294 Reimbursement rights — 20,823 — 427 21,250 As at September 30, 2021 986,359 33,057 661 37,467 1,057,544 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 26c) — — 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 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, 2021 U.K. Germany France Other Total $ $ $ $ $ Quoted equities 426,066 — — — 426,066 Quoted bonds 109,787 — — — 109,787 Cash 36,974 — — 64 37,038 Other 1 413,532 12,234 661 36,976 463,403 986,359 12,234 661 37,040 1,036,294 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 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 2021 2020 $ $ Current service cost 15,878 14,475 Past service cost 346 — Net interest on net defined benefit obligations or assets 1,005 629 Administration expenses 1,408 1,247 18,637 16,351 1 The expense was presented as costs of services, selling and administrative for an amount of $16,224,000 and as net finance costs for an amount of $2,413,000 (Note 25) ($14,475,000 and $1,876,000, respectively for the year ended September 30, 2020). |
Disclosure of principal actuarial assumptions 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, 2021 U.K Germany France Other % % % % Discount rate 2.03 0.88 0.90 3.30 Future salary increases 3.45 2.50 3.75 1.34 Future pension increases 3.38 1.80 — 0.07 Inflation rate 3.45 2.00 1.50 2.83 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 — 0.08 Inflation rate 2.84 2.00 1.50 2.51 The average longevity over 65 of a member presently at age 45 and 65 are as follows: As at September 30, 2021 U.K. Germany (in years) Longevity at age 65 for current members Males 21.9 21.0 Females 23.8 24.0 Longevity at age 45 for current members Males 23.3 23.0 Females 25.4 26.0 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 |
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, 2021 U.K. Germany France $ $ $ Increase of 0.25% in the discount rate (36,571) (2,986) (2,716) Decrease of 0.25% in the discount rate 38,221 3,144 2,851 Salary increase of 0.25% 480 35 2,870 Salary decrease of 0.25% (471) (34) (2,746) Pension increase of 0.25% 25,254 1,440 — Pension decrease of 0.25% (24,480) (1,381) — Increase of 0.25% in inflation rate 36,172 1,440 2,870 Decrease of 0.25% in inflation rate (34,478) (1,381) (2,746) Increase of one 27,907 3,131 555 Decrease of one (27,556) (2,761) (585) 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 27,126 3,615 558 Decrease of one (26,843) (3,040) (592) |
Disclosure of weighted average duration of benefit obligation | The weighted average duration of the defined benefit obligations are as follows: Year ended September 30 2021 2020 (in years) U.K. 18 18 Germany 13 14 France 15 14 Other 12 12 |
Accumulated other comprehensi_2
Accumulated other comprehensive income (Tables) | 12 Months Ended |
Sep. 30, 2021 | |
Disclosure of 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 $43,208 ($56,239 as at September 30, 2020) 611,230 1,002,804 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 $41,611 ($63,692 as at September 30, 2020) (267,149) (417,462) Deferred gains of hedging on cross-currency swaps, net of accumulated income tax expense of $2,369 ($4,049 as at September 30, 2020) 6,569 14,053 Net unrealized gains (losses) on cash flow hedges, net of accumulated income tax expense of $1,252 (net of accumulated income tax recovery of $2,554 as at September 30, 2020) 5,029 (5,935) Net unrealized gains on financial assets at fair value through other comprehensive income, net of accumulated income tax expense of $592 ($1,291 as at September 30, 2020) 2,191 4,340 Items that will not be reclassified subsequently to net earnings: Net remeasurement losses on defined benefit plans, net of accumulated income tax recovery of $11,084 ($18,920 as at September 30, 2020) (26,290) (52,090) 331,580 545,710 |
Capital stock (Tables)
Capital stock (Tables) | 12 Months Ended |
Sep. 30, 2021 | |
Disclosure of classes of share capital [abstract] | |
Schedule of outstanding shares | For the fiscal years 2021 and 2020, 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, 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 Issued upon exercise of stock options 1 1,290,919 73,827 — — 1,290,919 73,827 PSUs exercised 2 — 7,150 — — — 7,150 Purchased and cancelled 3 (15,310,465) (177,560) — — (15,310,465) (177,560) Purchased and not cancelled 3 — (1,181) — — — (1,181) Purchased and held in trusts 4 — (31,404) — — — (31,404) Conversion of shares 5 2,500,000 3,488 (2,500,000) (3,488) — — As at September 30, 2021 219,171,329 1,595,811 26,445,706 36,894 245,617,035 1,632,705 1 The carrying value of Class A subordinate voting shares includes $12,773,000 ($12,269,000 during the year ended September 30, 2020), which corresponds to a reduction in contributed surplus representing the value of accumulated compensation costs associated with the stock options exercised during the year ended September 30, 2021. 2 During the year ended September 30, 2021, 119,108 PSUs were exercised (157,788 during the year ended September 30, 2020) with a recorded value of $7,150,000 ($9,078,000 during the year ended September 30, 2020) that was removed from contributed surplus. As at September 30, 2021, 1,433,521 Class A subordinate voting shares were held in trusts under the PSU plans (1,243,022 as at September 30, 2020). 3 On January 26, 2021, 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 19,184,831 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, 2021 until no later than February 5, 2022, 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 elects to terminate the bid. During the year ended September 30, 2021, the Company purchased for cancellation 4,204,865 Class A subordinate voting shares from the Caisse de dépôt et placement du Québec for a cash consideration of $400,000,000 (6,008,905 and $600,000,000, respectively during the year ended September 30, 2020). The excess of the purchase price over the carrying value in the amount of $310,048,000 was charged to retained earnings ($471,455,000 during the year ended September 30, 2020). 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, 2021, the Company purchased for cancellation 11,255,600 Class A subordinate voting shares (4,596,559 during the year ended September 30, 2020) under its previous and current NCIB for a cash consideration of $1,119,226,000 ($443,517,000 during the year ended September 30, 2020) and the excess of the purchase price over the carrying value in the amount of $1,030,437,000 ($406,747,000 during the year ended September 30, 2020) was charged to retained earnings. Of the purchased Class A subordinate voting shares, 150,000 shares with a carrying value of $1,181,000 and a purchase value of $16,402,000 were held by the Company and were paid and cancelled subsequent to September 30, 2021. 4 During the year ended September 30, 2021, the trustees, in accordance with the terms of the PSU plans and Trust Agreements, purchased 309,606 Class A subordinate voting shares of the Company on the open market (525,331 during the year ended September 30, 2020) for a cash consideration of $31,404,000 ($55,287,000 during the year ended September 30, 2020). 5 On March 1, 2021, the Co-founder and Advisor to the Executive Chairman of the Board of the Company, also a related party of the Company, converted a total of 2,500,000 Class B multiple voting shares into 2,500,000 Class A subordinate voting shares. |
Share-based payments (Tables)
Share-based payments (Tables) | 12 Months Ended |
Sep. 30, 2021 | |
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: 2021 2020 Number of options Weighted Number of options Weighted $ $ Outstanding, beginning of year 8,934,097 61.33 9,891,592 54.64 Granted 995,160 97.86 913,560 110.65 Exercised (Note 19) (1,290,919) 47.29 (1,438,877) 39.72 Forfeited (622,940) 107.82 (431,223) 84.50 Expired (3,321) 108.44 (955) 74.55 Outstanding, end of year 8,012,077 64.49 8,934,097 61.33 Exercisable, end of year 5,781,579 54.76 5,748,402 49.02 |
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, 2021: Options outstanding Options exercisable Range of Number of options Weighted Weighted Number of options Weighted average exercise price $ (in years) $ $ 19.30 to 38.79 1,455,630 1.81 30.55 1,455,630 30.55 39.47 to 50.94 1,096,265 3.70 45.41 1,096,265 45.41 52.63 to 63.72 2,775,587 5.46 63.06 2,419,052 63.03 67.04 to 87.65 1,403,429 6.92 84.04 725,445 83.36 97.84 to 115.01 1,281,166 8.93 101.09 85,187 110.58 8,012,077 5.37 64.49 5,781,579 54.76 |
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, 2021: Options outstanding Options exercisable Range of Number of options Weighted Weighted Number of options Weighted average exercise price $ (in years) $ $ 19.30 to 38.79 1,455,630 1.81 30.55 1,455,630 30.55 39.47 to 50.94 1,096,265 3.70 45.41 1,096,265 45.41 52.63 to 63.72 2,775,587 5.46 63.06 2,419,052 63.03 67.04 to 87.65 1,403,429 6.92 84.04 725,445 83.36 97.84 to 115.01 1,281,166 8.93 101.09 85,187 110.58 8,012,077 5.37 64.49 5,781,579 54.76 |
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 2021 2020 Grant date fair value ($) 16.76 17.71 Dividend yield (%) 0.00 0.00 Expected volatility (%) 1 20.76 16.60 Risk-free interest rate (%) 0.40 1.55 Expected life (years) 4.00 4.00 Exercise price ($) 97.86 110.65 Share price ($) 97.86 110.65 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, 2019 861,485 Granted 1 607,342 Exercised (Note 19) (157,788) Forfeited (79,569) Outstanding as at September 30, 2020 1,231,470 Granted 1 669,252 Exercised (Note 19) (119,108) Forfeited (365,411) Outstanding as at September 30, 2021 1,416,203 1 |
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 2021 2020 $ $ Stock options 13,108 16,378 PSUs 32,484 20,979 Share purchase plan 128,662 127,983 DSUs 2,876 (607) 177,130 164,733 |
Earnings per share (Tables)
Earnings per share (Tables) | 12 Months Ended |
Sep. 30, 2021 | |
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: 2021 2020 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 1,369,072 249,119,219 5.50 1,117,862 262,005,521 4.27 Net effect of dilutive stock options and PSUs 2 3,969,661 4,098,541 1,369,072 253,088,880 5.41 1,117,862 266,104,062 4.20 1 During the year ended September 30, 2021, 15,460,465 Class A subordinate voting shares purchased for cancellation and 1,433,521 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 (10,605,464 and 1,243,022, respectively during the year ended September 30, 2020). 2 The calculation of the diluted earnings per share excluded 1,276,809 stock options for the year ended September 30, 2021 (876,213 for the year ended September 30, 2020), as they were anti-dilutive. |
Cost of services, selling and_2
Cost of services, selling and administrative (Tables) | 12 Months Ended |
Sep. 30, 2021 | |
Analysis of income and expense [abstract] | |
Disclosure of cost of services, selling and administrative | Year ended September 30 2021 2020 $ $ Salaries and other member costs 1 7,317,113 7,264,839 Professional fees and other contracted labour 1,262,659 1,355,065 Hardware, software and data center related costs 830,199 800,496 Property costs 216,506 259,306 Amortization, depreciation and impairment (Note 24) 505,562 556,061 Other operating expenses 46,125 66,301 10,178,164 10,302,068 1 Net of R&D and other tax credits of $167,198,000 in 2021 ($160,335,000 in 2020). |
Amortization, depreciation an_2
Amortization, depreciation and impairment (Tables) | 12 Months Ended |
Sep. 30, 2021 | |
Analysis of income and expense [abstract] | |
Disclosure of amortization, depreciation and impairment | Year ended September 30 2021 2020 $ $ Depreciation of PP&E (Note 6) 144,423 156,590 Depreciation of right-of-use assets (Note 7) 160,240 168,239 Impairment of right-of-use assets (Note 7) 956 3,269 Amortization of contract costs related to transition costs 61,369 55,905 Impairment of contract costs related to transition costs 4,592 4,047 Amortization of intangible assets (Note 9) 129,861 157,378 Impairment of intangible assets (Note 9) 4,121 10,633 Included in costs of services, selling and administrative (Note 23) 505,562 556,061 Amortization of contract costs related to incentives (presented as a reduction of revenue) 2,611 2,535 Amortization of deferred financing fees (presented in finance costs) 875 890 Amortization of premiums and discounts on investments related to funds held for clients (presented net as a (increase) reduction of revenue) (102) 79 Impairment of PP&E (presented in restructuring costs) (Note 6 and 13) — 1,035 Impairment of right-of-use assets (presented in restructuring costs) (Note 7 and 13) — 5,092 Impairment of PP&E (presented in integration costs) (Note 6) 1,113 — Impairment of right-of-use assets (presented in integration costs) (Note 7) 511 — 510,570 565,692 |
Net finance costs (Tables)
Net finance costs (Tables) | 12 Months Ended |
Sep. 30, 2021 | |
Analysis of income and expense [abstract] | |
Disclosure of finance costs | Year ended September 30 2021 2020 $ $ Interest on long-term debt 67,467 75,667 Interest on lease liabilities 33,255 33,017 Net interest costs on net defined benefit obligations or assets (Note 17) 2,413 1,876 Other finance costs 6,774 9,029 Finance costs 109,909 119,589 Finance income (3,111) (5,115) 106,798 114,474 |
Investments in subsidiaries (Ta
Investments in subsidiaries (Tables) | 12 Months Ended |
Sep. 30, 2021 | |
Business Combinations [Abstract] | |
Disclosure of detailed information about business combinations | 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: 2021 $ Current assets 17,746 PP&E (Note 6) 1,869 Right-of-use assets (Note 7) 4,982 Intangible assets (Note 9) 22,107 Deferred tax assets 749 Goodwill 1 (Note 12) 75,697 Current liabilities (11,859) Lease liabilities (5,733) 105,558 Cash acquired 5,955 Net assets acquired 111,513 Consideration paid 104,148 Consideration payable 7,365 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, 2021, $75,697,000 of the goodwill is included in the U.S. Commercial and State Government operating segment. An amount of goodwill of $23,985,000 is deductible for tax purposes. 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. During the year ended September 30, 2020, the fair value of assets acquired and liabilities assumed for SCISYS, TeraThink and Meti were preliminary. 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 1 144,712 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, 2021 | |
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: 2021 2020 $ $ Accounts receivable (42,336) 225,441 Work in progress (12,354) 79,809 Prepaid expenses and other assets (33,631) 21,342 Long-term financial assets (10,241) (12,081) Accounts payable and accrued liabilities 60,822 (105,239) Accrued compensation and employee-related liabilities 233,670 (19,061) Deferred revenue 62,307 (48,264) Income taxes 59,620 (56,627) Provisions (105,292) 76,671 Long-term liabilities 1,535 59,822 Derivative financial instruments (249) 373 Retirement benefits obligations 1,013 (4,022) 214,864 218,164 |
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: 2021 2020 $ $ Operating activities Accounts payable and accrued liabilities 18,707 4,788 Provisions 805 690 19,512 5,478 Investing activities Purchase of PP&E (18,162) (4,698) Additions, disposals/retirements, change in estimates and lease modifications of right-of-use assets (104,467) (102,584) Additions to intangible assets (1,350) (780) (123,979) (108,062) |
Disclosure of financing activities | Changes arising from financing activities are as follows for the years ended September 30: 2021 2020 Long-term debt Derivative financial instruments to hedge long-term debt Lease liabilities Long-term debt Derivative financial instruments to hedge long-term debt Lease liabilities $ $ $ $ $ $ Balance, beginning of year 3,587,095 32,234 876,370 2,331,207 (29,894) — Adoption of IFRS 16 (Note 3) — — — (30,339) — 911,525 Opening balance 3,587,095 32,234 876,370 2,300,868 (29,894) 911,525 Cash used in financing activities excluding equity Net change in unsecured committed revolving credit facility — — — (334,370) — — Increase of long-term debt 1,885,262 — — 1,807,167 — — Repayment of long-term debt and lease liabilities (1,888,777) — (174,808) (106,496) — (175,320) Repayment of debt assumed in business acquisitions — — — (28,281) — — Settlement of derivative financial instruments (Note 31) — (6,992) — — (3,903) — Non-cash financing activities Additions, disposals/retirements and change in estimates and lease modifications of right-of-use assets — — 102,281 — — 102,584 Additions through business acquisitions (Note 26) — — 5,733 19,333 — 13,592 Changes in foreign currency exchange rates (172,984) (8,055) (30,721) (77,126) 66,031 31,766 Other (8,940) — (1,915) 6,000 — (7,777) Balance, end of year 3,401,656 17,187 776,940 3,587,095 32,234 876,370 |
Disclosure of interest and income taxes paid and received | Interest paid and received and income taxes paid are classified within operating activities and are as follows for the years ended September 30: 2021 2020 $ $ Interest paid 131,646 131,433 Interest received 15,929 21,951 Income taxes paid 382,833 390,867 |
Segmented information (Tables)
Segmented information (Tables) | 12 Months Ended |
Sep. 30, 2021 | |
Disclosure of operating segments [abstract] | |
Disclosure of operating segment information | The following tables present information on the Company's operations based on its current management structure. Segment results are based on the location from which the services are delivered - the geographic delivery model (Note 12). Year ended September 30, 2021 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 1,963,791 1,800,747 1,755,804 1,607,431 1,355,603 1,303,917 1,027,902 768,994 680,554 (137,950) 12,126,793 Segment earnings before acquisition-related and integration costs, net finance costs and income tax expense 1 271,324 281,217 390,370 252,657 218,624 149,935 66,180 114,358 207,496 — 1,952,161 Acquisition-related and integration costs (Note 26d) (7,371) Net finance costs (Note 25) (106,798) Earnings before income taxes 1,837,992 1 Total amortization and depreciation of $508,071,000 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 $63,511,000, $71,037,000, $65,038,000, $49,636,000, $57,888,000, $70,076,000, $64,371,000, $39,275,000 and $27,239,000, respectively for the year ended September 30, 2021. Amortization includes impairments of $8,713,000 from business solutions and contract costs which are mainly included in Western and Southern Europe for $3,058,000 related to a business solution and in Finland, Poland and Baltics for $3,490,000 related to contract costs. These assets were no longer expected to generate future economic benefits. 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 26d) (76,794) Restructuring costs (155,411) Net finance costs (Note 25) (114,474) Earnings before income taxes 1,516,267 |
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 inter-segment revenue, for the years ended September 30: 2021 2020 $ $ Western and Southern Europe France 1,721,622 1,672,355 Portugal 105,776 103,847 Others 128,925 138,503 1,956,323 1,914,705 U.S. 1 3,510,193 3,637,070 Canada 1,892,246 1,820,265 U.K. and Australia U.K. 1,487,774 1,508,719 Australia 67,916 63,708 1,555,690 1,572,427 Central and Eastern Europe Germany 786,426 718,166 Netherlands 479,597 465,340 Others 76,211 68,537 1,342,234 1,252,043 Scandinavia Sweden 782,581 835,682 Others 290,680 322,711 1,073,261 1,158,393 Finland, Poland and Baltics Finland 754,412 766,732 Others 37,660 37,269 792,072 804,001 Asia Pacific Others 4,774 5,211 4,774 5,211 12,126,793 12,164,115 1 External revenue included in the U.S Commercial and State Government and U.S. Federal operating segments was $1,889,999,000 and $1,620,194,000, respectively in 2021 ($1,902,661,000 and $1,734,409,000, respectively in 2020). 28. Segmented information (continued) GEOGRAPHIC INFORMATION (CONTINUED) The following table provides information for PP&E, right-of-use assets, contract costs and intangible assets based on their location: As at As at $ $ U.S. 488,262 487,698 Canada 388,408 412,469 U.K. 132,897 138,391 France 120,360 137,307 Sweden 140,409 162,506 Finland 89,451 93,948 Germany 105,998 107,809 Netherlands 45,082 64,551 Rest of the world 164,787 195,970 1,675,654 1,800,649 |
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: 2021 2020 $ $ Business consulting, strategic IT consulting and systems integration 5,403,826 5,554,622 Managed IT and business process services 6,722,967 6,609,493 12,126,793 12,164,115 |
Related party transactions (Tab
Related party transactions (Tables) | 12 Months Ended |
Sep. 30, 2021 | |
Related party transactions [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 Deutschland B.V. & Co KG Germany CGI Sverige AB Sweden 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: 2021 2020 $ $ Short-term employee benefits 30,325 14,462 Share-based payments 19,727 18,374 |
Commitments, contingencies an_2
Commitments, contingencies and guarantees (Tables) | 12 Months Ended |
Sep. 30, 2021 | |
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 148,663 Between one and three years 91,690 Between three and five years 38,981 Beyond five years 489 |
Financial instruments (Tables)
Financial instruments (Tables) | 12 Months Ended |
Sep. 30, 2021 | |
Financial Instruments [Abstract] | |
Disclosure of financial liabilities included in the long-term debt | 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, 2021 As at September 30, 2020 Level Carrying amount Fair value Carrying amount Fair value $ $ $ $ Senior U.S. unsecured notes Level 2 888,307 936,084 1,211,965 1,297,632 2021 U.S. Senior Notes Level 2 1,253,226 1,255,055 — — 2021 CAD Senior Notes Level 2 595,331 585,506 — — Other long-term debt Level 2 31,169 30,345 44,842 43,536 2,768,033 2,806,990 1,256,807 1,341,168 |
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, 2021 As at September 30, 2020 $ $ Financial assets FVTE Cash and cash equivalents Level 2 1,699,206 1,707,985 Deferred compensation plan assets (Note 11) Level 1 81,633 73,156 1,780,839 1,781,141 Derivative financial instruments designated as Current derivative financial instruments included in current Level 2 Cross-currency swaps 4,146 — Foreign currency forward contracts 12,745 17,027 Interest rate swaps 1,043 — Long-term derivative financial instruments (Note 11) Level 2 Cross-currency swaps 24,347 25,362 Foreign currency forward contracts 9,231 8,636 Interest rate swaps — 6,180 51,512 57,205 FVOCI Short-term investments included in current financial assets Level 2 1,027 1,473 Long-term bonds included in funds held for clients (Note 5) Level 2 136,629 148,470 Long-term investments (Note 11) Level 2 19,354 22,612 157,010 172,555 Financial liabilities Derivative financial instruments designated as Current derivative financial instruments Level 2 Cross-currency swaps 5,762 5,320 Foreign currency forward contracts 735 3,008 Long-term derivative financial instruments Level 2 Cross-currency swaps 39,918 52,275 Foreign currency forward contracts 1,866 4,347 48,281 64,950 |
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, 2021 As at September 30, 2020 $ $ Financial assets FVTE Cash and cash equivalents Level 2 1,699,206 1,707,985 Deferred compensation plan assets (Note 11) Level 1 81,633 73,156 1,780,839 1,781,141 Derivative financial instruments designated as Current derivative financial instruments included in current Level 2 Cross-currency swaps 4,146 — Foreign currency forward contracts 12,745 17,027 Interest rate swaps 1,043 — Long-term derivative financial instruments (Note 11) Level 2 Cross-currency swaps 24,347 25,362 Foreign currency forward contracts 9,231 8,636 Interest rate swaps — 6,180 51,512 57,205 FVOCI Short-term investments included in current financial assets Level 2 1,027 1,473 Long-term bonds included in funds held for clients (Note 5) Level 2 136,629 148,470 Long-term investments (Note 11) Level 2 19,354 22,612 157,010 172,555 Financial liabilities Derivative financial instruments designated as Current derivative financial instruments Level 2 Cross-currency swaps 5,762 5,320 Foreign currency forward contracts 735 3,008 Long-term derivative financial instruments Level 2 Cross-currency swaps 39,918 52,275 Foreign currency forward contracts 1,866 4,347 48,281 64,950 |
Disclosure of financial instruments by type of interest rate | The following table summarizes the fair value of these 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 1,043 6,180 |
Disclosure of detailed information about cross-currency swap agreements | 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 $228,700 From 3.41% to 3.81% €147,200 From 2.14% to 2.51% From September 2022 to 2024 12,859 189 $136,274 From 3.57% to 3.63% £75,842 From 2.67% to 2.80% September 2024 9,814 8,977 $58,419 From 3.57% to 3.68% kr371,900 From 2.12% to 2.18% September 2024 5,820 5,359 Hedges of net investments in European operations and cash flow hedges on unsecured committed term loan credit facility US$500,000 LIBOR 1 month + 1.00% €443,381 From 1.13% to 1.17% December 2023 (27,819) (45,599) Cash flow hedges of Senior U.S. unsecured notes US$315,000 From 3.74% to 4.06% $423,393 From 3.41% to 3.81% From September 2022 to 2024 (17,861) (1,159) Total (17,187) (32,233) |
Disclosure of notional, average contract rates, maturities and sensitivity analysis for currency risk | As at September 30, 2021, 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 US$146,367 76.52 82.88 4,002 2,473 CAD/INR $266,077 59.50 63.87 882 6,196 EUR/INR €86,244 92.21 99.38 6,650 4,731 GBP/INR £70,552 102.82 111.37 2,390 4,522 SEK/INR kr151,588 8.60 9.04 (10) 477 EUR/GBP €31,955 0.89 0.89 1,033 (1,210) EUR/MAD €32,196 10.67 10.99 2,064 2,534 EUR/CZK €17,704 26.63 26.81 758 (1,039) EUR/SEK €19,185 10.66 10.75 1,396 120 Others $60,293 210 (496) Total 19,375 18,308 31. 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. 2021 2020 Swedish krona impact U.S. dollar impact euro British pound impact Swedish U.S. dollar euro British pound impact $ $ $ $ $ $ $ $ Increase in net earnings 171 1,416 1,294 1,227 317 1,215 190 931 Decrease in other comprehensive (loss) income (8,287) (187,587) (83,334) (25,622) (11,047) (233,182) (116,136) (29,080) |
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, 2021 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 891,374 891,374 891,374 — — — Accrued compensation and employee-related 1,084,014 1,084,014 1,084,014 — — — Senior U.S. unsecured notes 888,307 955,768 410,738 545,030 — — 2021 U.S. Senior Notes 1,253,226 1,439,360 22,690 45,380 805,940 565,350 2021 CAD Senior Notes 595,331 688,269 12,669 25,200 25,200 625,200 Unsecured committed term loan credit 633,623 649,498 7,043 642,455 — — Lease liabilities 776,940 877,498 192,750 318,993 180,593 185,162 Other long-term debt 31,169 32,071 13,133 18,337 595 6 Clients’ funds obligations 591,101 591,101 591,101 — — — Derivative financial liabilities Cash flow hedges of future revenue 2,601 Outflow 163,162 55,039 103,373 4,750 — (Inflow) (171,282) (55,756) (110,294) (5,232) — Cross-currency swaps 45,680 Outflow 1,128,791 91,667 1,037,124 — — (Inflow) (1,088,240) (85,776) (1,002,464) — — 6,793,366 7,241,384 3,230,686 1,623,134 1,011,846 1,375,718 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 814,119 814,119 814,119 — — — Accrued compensation and employee-related 884,619 884,619 884,619 — — — Senior U.S. and euro unsecured notes 1,211,965 1,325,791 321,089 519,605 485,097 — Unsecured committed term loan credit 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 |
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, 2021 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 891,374 891,374 891,374 — — — Accrued compensation and employee-related 1,084,014 1,084,014 1,084,014 — — — Senior U.S. unsecured notes 888,307 955,768 410,738 545,030 — — 2021 U.S. Senior Notes 1,253,226 1,439,360 22,690 45,380 805,940 565,350 2021 CAD Senior Notes 595,331 688,269 12,669 25,200 25,200 625,200 Unsecured committed term loan credit 633,623 649,498 7,043 642,455 — — Lease liabilities 776,940 877,498 192,750 318,993 180,593 185,162 Other long-term debt 31,169 32,071 13,133 18,337 595 6 Clients’ funds obligations 591,101 591,101 591,101 — — — Derivative financial liabilities Cash flow hedges of future revenue 2,601 Outflow 163,162 55,039 103,373 4,750 — (Inflow) (171,282) (55,756) (110,294) (5,232) — Cross-currency swaps 45,680 Outflow 1,128,791 91,667 1,037,124 — — (Inflow) (1,088,240) (85,776) (1,002,464) — — 6,793,366 7,241,384 3,230,686 1,623,134 1,011,846 1,375,718 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 814,119 814,119 814,119 — — — Accrued compensation and employee-related 884,619 884,619 884,619 — — — Senior U.S. and euro unsecured notes 1,211,965 1,325,791 321,089 519,605 485,097 — Unsecured committed term loan credit 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 |
Disclosure of analysis of age of trade accounts receivable | The following table sets forth details of the age of trade accounts receivable that are past due: 2021 2020 $ $ Not past due 818,520 775,975 Past due 1-30 days 47,702 44,278 Past due 31-60 days 21,582 29,948 Past due 61-90 days 7,402 6,407 Past due more than 90 days 46,939 53,546 942,145 910,154 Allowance for doubtful accounts (3,728) (5,267) 938,417 904,887 |
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, 2021 | |
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, 2021 | |
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 | 5 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 | 7 years |
Summary of significant accoun_6
Summary of significant accounting policies - Narrative (Details) - CAD ($) $ in Thousands | Sep. 30, 2021 | Sep. 30, 2020 |
Disclosure of voluntary change in accounting policy [line items] | ||
Accrued compensation and employee-related liabilities | $ 1,084,014 | $ 884,619 |
Accrued Compensation and Employee-Related Liabilities | ||
Disclosure of voluntary change in accounting policy [line items] | ||
Accrued compensation and employee-related liabilities | $ 229,686 | $ 211,844 |
Accounts receivable (Details)
Accounts receivable (Details) - CAD ($) $ in Thousands | Sep. 30, 2021 | Sep. 30, 2020 |
Subclassifications of assets, liabilities and equities [abstract] | ||
Trade (Note 31) | $ 938,417 | $ 904,887 |
R&D and other tax credits | 187,347 | 180,953 |
Other | 105,688 | 133,462 |
Total accounts receivable | $ 1,231,452 | $ 1,219,302 |
Funds held for clients (Details
Funds held for clients (Details) - CAD ($) $ in Thousands | Sep. 30, 2021 | Sep. 30, 2020 |
Disclosure Of Funds Held For Clients [Line Items] | ||
Funds held for clients | $ 593,154 | $ 725,178 |
Cash | ||
Disclosure Of Funds Held For Clients [Line Items] | ||
Funds held for clients | 456,525 | 576,708 |
Long-term bonds (Note 31) | ||
Disclosure Of Funds Held For Clients [Line Items] | ||
Funds held for clients | $ 136,629 | $ 148,470 |
Property, plant and equipment_2
Property, plant and equipment (Details) - CAD ($) $ in Thousands | 12 Months Ended | |
Sep. 30, 2021 | Sep. 30, 2020 | |
Reconciliation of changes in property, plant and equipment [abstract] | ||
Beginning Balance | $ 372,946 | |
Impairment (Note 24) | $ 1,035 | |
Ending Balance | 352,092 | 372,946 |
Cost | ||
Reconciliation of changes in property, plant and equipment [abstract] | ||
Beginning Balance | 1,147,933 | 1,123,505 |
Additions | 135,723 | 125,229 |
Additions - business acquisitions (Note 26a) | 1,822 | 18,900 |
Disposals/retirements | (178,246) | (155,055) |
Foreign currency translation adjustment | (39,992) | 35,354 |
Ending Balance | 1,067,240 | 1,147,933 |
Cost | Previously stated | ||
Reconciliation of changes in property, plant and equipment [abstract] | ||
Beginning Balance | 1,178,440 | |
Cost | Adoption of IFRS 16 | ||
Reconciliation of changes in property, plant and equipment [abstract] | ||
Beginning Balance | (54,935) | |
Accumulated depreciation | ||
Reconciliation of changes in property, plant and equipment [abstract] | ||
Beginning Balance | (774,987) | (747,707) |
Disposals/retirements | 178,246 | 153,862 |
Foreign currency translation adjustment | 27,129 | (23,517) |
Depreciation expense (Note 24) | 144,423 | 156,590 |
Impairment (Note 24) | 1,113 | 1,035 |
Ending Balance | (715,148) | (774,987) |
Accumulated depreciation | Previously stated | ||
Reconciliation of changes in property, plant and equipment [abstract] | ||
Beginning Balance | (780,779) | |
Accumulated depreciation | Adoption of IFRS 16 | ||
Reconciliation of changes in property, plant and equipment [abstract] | ||
Beginning Balance | 33,072 | |
Land and buildings | ||
Reconciliation of changes in property, plant and equipment [abstract] | ||
Beginning Balance | 59,157 | |
Ending Balance | 56,946 | 59,157 |
Land and buildings | Cost | ||
Reconciliation of changes in property, plant and equipment [abstract] | ||
Beginning Balance | 79,281 | 58,614 |
Additions | 2,000 | 5,759 |
Additions - business acquisitions (Note 26a) | 0 | 12,730 |
Disposals/retirements | 0 | 0 |
Foreign currency translation adjustment | (2,374) | 2,178 |
Ending Balance | 78,907 | 79,281 |
Land and buildings | Cost | Previously stated | ||
Reconciliation of changes in property, plant and equipment [abstract] | ||
Beginning Balance | 58,614 | |
Land and buildings | Cost | Adoption of IFRS 16 | ||
Reconciliation of changes in property, plant and equipment [abstract] | ||
Beginning Balance | 0 | |
Land and buildings | Accumulated depreciation | ||
Reconciliation of changes in property, plant and equipment [abstract] | ||
Beginning Balance | (20,124) | (16,961) |
Disposals/retirements | 0 | 0 |
Foreign currency translation adjustment | 753 | (1,268) |
Depreciation expense (Note 24) | 2,590 | 1,895 |
Impairment (Note 24) | 0 | 0 |
Ending Balance | (21,961) | (20,124) |
Land and buildings | Accumulated depreciation | Previously stated | ||
Reconciliation of changes in property, plant and equipment [abstract] | ||
Beginning Balance | (16,961) | |
Land and buildings | Accumulated depreciation | Adoption of IFRS 16 | ||
Reconciliation of changes in property, plant and equipment [abstract] | ||
Beginning Balance | 0 | |
Leasehold improvements | ||
Reconciliation of changes in property, plant and equipment [abstract] | ||
Beginning Balance | 90,970 | |
Ending Balance | 88,812 | 90,970 |
Leasehold improvements | Cost | ||
Reconciliation of changes in property, plant and equipment [abstract] | ||
Beginning Balance | 241,542 | 224,559 |
Additions | 26,349 | 28,188 |
Additions - business acquisitions (Note 26a) | 1,200 | 1,013 |
Disposals/retirements | (15,284) | (17,160) |
Foreign currency translation adjustment | (8,983) | 4,942 |
Ending Balance | 244,824 | 241,542 |
Leasehold improvements | Cost | Previously stated | ||
Reconciliation of changes in property, plant and equipment [abstract] | ||
Beginning Balance | 224,559 | |
Leasehold improvements | Cost | Adoption of IFRS 16 | ||
Reconciliation of changes in property, plant and equipment [abstract] | ||
Beginning Balance | 0 | |
Leasehold improvements | Accumulated depreciation | ||
Reconciliation of changes in property, plant and equipment [abstract] | ||
Beginning Balance | (150,572) | (139,726) |
Disposals/retirements | 15,284 | 17,160 |
Foreign currency translation adjustment | 5,400 | (3,041) |
Depreciation expense (Note 24) | 25,512 | 24,965 |
Impairment (Note 24) | 612 | 0 |
Ending Balance | (156,012) | (150,572) |
Leasehold improvements | Accumulated depreciation | Previously stated | ||
Reconciliation of changes in property, plant and equipment [abstract] | ||
Beginning Balance | (139,726) | |
Leasehold improvements | Accumulated depreciation | Adoption of IFRS 16 | ||
Reconciliation of changes in property, plant and equipment [abstract] | ||
Beginning Balance | 0 | |
Furniture, fixtures and equipment | ||
Reconciliation of changes in property, plant and equipment [abstract] | ||
Beginning Balance | 57,159 | |
Ending Balance | 52,924 | 57,159 |
Furniture, fixtures and equipment | Cost | ||
Reconciliation of changes in property, plant and equipment [abstract] | ||
Beginning Balance | 165,219 | 166,060 |
Additions | 10,956 | 12,225 |
Additions - business acquisitions (Note 26a) | 208 | 2,683 |
Disposals/retirements | (20,238) | (19,405) |
Foreign currency translation adjustment | (5,528) | 3,656 |
Ending Balance | 150,617 | 165,219 |
Furniture, fixtures and equipment | Cost | Previously stated | ||
Reconciliation of changes in property, plant and equipment [abstract] | ||
Beginning Balance | 180,638 | |
Furniture, fixtures and equipment | Cost | Adoption of IFRS 16 | ||
Reconciliation of changes in property, plant and equipment [abstract] | ||
Beginning Balance | (14,578) | |
Furniture, fixtures and equipment | Accumulated depreciation | ||
Reconciliation of changes in property, plant and equipment [abstract] | ||
Beginning Balance | (108,060) | (110,387) |
Disposals/retirements | 20,238 | 19,021 |
Foreign currency translation adjustment | 3,726 | (2,454) |
Depreciation expense (Note 24) | 13,547 | 14,240 |
Impairment (Note 24) | 50 | 0 |
Ending Balance | (97,693) | (108,060) |
Furniture, fixtures and equipment | Accumulated depreciation | Previously stated | ||
Reconciliation of changes in property, plant and equipment [abstract] | ||
Beginning Balance | (118,672) | |
Furniture, fixtures and equipment | Accumulated depreciation | Adoption of IFRS 16 | ||
Reconciliation of changes in property, plant and equipment [abstract] | ||
Beginning Balance | 8,285 | |
Computer equipment | ||
Reconciliation of changes in property, plant and equipment [abstract] | ||
Beginning Balance | 165,660 | |
Ending Balance | 153,410 | 165,660 |
Computer equipment | Cost | ||
Reconciliation of changes in property, plant and equipment [abstract] | ||
Beginning Balance | 661,891 | 674,272 |
Additions | 96,418 | 79,057 |
Additions - business acquisitions (Note 26a) | 414 | 2,474 |
Disposals/retirements | (142,724) | (118,490) |
Foreign currency translation adjustment | (23,107) | 24,578 |
Ending Balance | 592,892 | 661,891 |
Computer equipment | Cost | Previously stated | ||
Reconciliation of changes in property, plant and equipment [abstract] | ||
Beginning Balance | 714,629 | |
Computer equipment | Cost | Adoption of IFRS 16 | ||
Reconciliation of changes in property, plant and equipment [abstract] | ||
Beginning Balance | (40,357) | |
Computer equipment | Accumulated depreciation | ||
Reconciliation of changes in property, plant and equipment [abstract] | ||
Beginning Balance | (496,231) | (480,633) |
Disposals/retirements | 142,724 | 117,681 |
Foreign currency translation adjustment | 17,250 | (16,754) |
Depreciation expense (Note 24) | 102,774 | 115,490 |
Impairment (Note 24) | 451 | 1,035 |
Ending Balance | $ (439,482) | (496,231) |
Computer equipment | Accumulated depreciation | Previously stated | ||
Reconciliation of changes in property, plant and equipment [abstract] | ||
Beginning Balance | (505,420) | |
Computer equipment | Accumulated depreciation | Adoption of IFRS 16 | ||
Reconciliation of changes in property, plant and equipment [abstract] | ||
Beginning Balance | $ 24,787 |
Right-of-use assets (Details)
Right-of-use assets (Details) - CAD ($) $ in Thousands | 12 Months Ended | |
Sep. 30, 2021 | Sep. 30, 2020 | |
Reconciliation Of Changes In Right-Of-Use Assets [Abstract] | ||
Beginning balance | $ 666,865 | |
Ending balance | 586,207 | $ 666,865 |
Properties | ||
Reconciliation Of Changes In Right-Of-Use Assets [Abstract] | ||
Beginning balance | 519,103 | |
Ending balance | 474,309 | 519,103 |
Motor vehicles and others | ||
Reconciliation Of Changes In Right-Of-Use Assets [Abstract] | ||
Beginning balance | 136,403 | |
Ending balance | 106,379 | 136,403 |
Computer equipment | ||
Reconciliation Of Changes In Right-Of-Use Assets [Abstract] | ||
Beginning balance | 11,359 | |
Ending balance | 5,519 | 11,359 |
Cost | ||
Reconciliation Of Changes In Right-Of-Use Assets [Abstract] | ||
Beginning balance | 1,399,199 | 1,342,051 |
Additions | 83,101 | 118,922 |
Additions - business acquisitions (Note 26a) | 4,982 | 11,859 |
Change in estimates and lease modifications | 33,774 | (6,460) |
Disposals/retirements | (174,746) | (122,037) |
Foreign currency translation adjustment | (51,996) | 54,864 |
Ending balance | 1,294,314 | 1,399,199 |
Cost | Previously stated | ||
Reconciliation Of Changes In Right-Of-Use Assets [Abstract] | ||
Beginning balance | 0 | |
Cost | Adoption of IFRS 16 | ||
Reconciliation Of Changes In Right-Of-Use Assets [Abstract] | ||
Beginning balance | 1,342,051 | |
Cost | Properties | ||
Reconciliation Of Changes In Right-Of-Use Assets [Abstract] | ||
Beginning balance | 1,124,258 | 1,070,987 |
Additions | 60,318 | 59,556 |
Additions - business acquisitions (Note 26a) | 4,982 | 11,859 |
Change in estimates and lease modifications | 33,774 | (6,460) |
Disposals/retirements | (99,373) | (56,986) |
Foreign currency translation adjustment | (43,092) | 45,302 |
Ending balance | 1,080,867 | 1,124,258 |
Cost | Properties | Previously stated | ||
Reconciliation Of Changes In Right-Of-Use Assets [Abstract] | ||
Beginning balance | 0 | |
Cost | Properties | Adoption of IFRS 16 | ||
Reconciliation Of Changes In Right-Of-Use Assets [Abstract] | ||
Beginning balance | 1,070,987 | |
Cost | Motor vehicles and others | ||
Reconciliation Of Changes In Right-Of-Use Assets [Abstract] | ||
Beginning balance | 233,976 | 230,707 |
Additions | 21,955 | 56,976 |
Additions - business acquisitions (Note 26a) | 0 | 0 |
Change in estimates and lease modifications | 0 | 0 |
Disposals/retirements | (73,190) | (61,941) |
Foreign currency translation adjustment | (8,387) | 8,234 |
Ending balance | 174,354 | 233,976 |
Cost | Motor vehicles and others | Previously stated | ||
Reconciliation Of Changes In Right-Of-Use Assets [Abstract] | ||
Beginning balance | 0 | |
Cost | Motor vehicles and others | Adoption of IFRS 16 | ||
Reconciliation Of Changes In Right-Of-Use Assets [Abstract] | ||
Beginning balance | 230,707 | |
Cost | Computer equipment | ||
Reconciliation Of Changes In Right-Of-Use Assets [Abstract] | ||
Beginning balance | 40,965 | 40,357 |
Additions | 828 | 2,390 |
Additions - business acquisitions (Note 26a) | 0 | 0 |
Change in estimates and lease modifications | 0 | 0 |
Disposals/retirements | (2,183) | (3,110) |
Foreign currency translation adjustment | (517) | 1,328 |
Ending balance | 39,093 | 40,965 |
Cost | Computer equipment | Previously stated | ||
Reconciliation Of Changes In Right-Of-Use Assets [Abstract] | ||
Beginning balance | 0 | |
Cost | Computer equipment | Adoption of IFRS 16 | ||
Reconciliation Of Changes In Right-Of-Use Assets [Abstract] | ||
Beginning balance | 40,357 | |
Accumulated depreciation | ||
Reconciliation Of Changes In Right-Of-Use Assets [Abstract] | ||
Beginning balance | (732,334) | (640,705) |
Disposals/retirements | 157,204 | 112,563 |
Foreign currency translation adjustment | 28,730 | (27,592) |
Depreciation expense (Note 24) | 160,240 | 168,239 |
Impairment (Note 24) | 1,467 | 8,361 |
Ending balance | (708,107) | (732,334) |
Accumulated depreciation | Previously stated | ||
Reconciliation Of Changes In Right-Of-Use Assets [Abstract] | ||
Beginning balance | 0 | |
Accumulated depreciation | Adoption of IFRS 16 | ||
Reconciliation Of Changes In Right-Of-Use Assets [Abstract] | ||
Beginning balance | (640,705) | |
Accumulated depreciation | Properties | ||
Reconciliation Of Changes In Right-Of-Use Assets [Abstract] | ||
Beginning balance | (605,155) | (501,821) |
Disposals/retirements | 87,557 | 56,986 |
Foreign currency translation adjustment | 24,406 | (24,028) |
Depreciation expense (Note 24) | 111,899 | 127,931 |
Impairment (Note 24) | 1,467 | 8,361 |
Ending balance | (606,558) | (605,155) |
Accumulated depreciation | Properties | Previously stated | ||
Reconciliation Of Changes In Right-Of-Use Assets [Abstract] | ||
Beginning balance | 0 | |
Accumulated depreciation | Properties | Adoption of IFRS 16 | ||
Reconciliation Of Changes In Right-Of-Use Assets [Abstract] | ||
Beginning balance | (501,821) | |
Accumulated depreciation | Motor vehicles and others | ||
Reconciliation Of Changes In Right-Of-Use Assets [Abstract] | ||
Beginning balance | (97,573) | (114,097) |
Disposals/retirements | 67,464 | 52,467 |
Foreign currency translation adjustment | 3,900 | (2,803) |
Depreciation expense (Note 24) | 41,766 | 33,140 |
Impairment (Note 24) | 0 | 0 |
Ending balance | (67,975) | (97,573) |
Accumulated depreciation | Motor vehicles and others | Previously stated | ||
Reconciliation Of Changes In Right-Of-Use Assets [Abstract] | ||
Beginning balance | 0 | |
Accumulated depreciation | Motor vehicles and others | Adoption of IFRS 16 | ||
Reconciliation Of Changes In Right-Of-Use Assets [Abstract] | ||
Beginning balance | (114,097) | |
Accumulated depreciation | Computer equipment | ||
Reconciliation Of Changes In Right-Of-Use Assets [Abstract] | ||
Beginning balance | (29,606) | (24,787) |
Disposals/retirements | 2,183 | 3,110 |
Foreign currency translation adjustment | 424 | (761) |
Depreciation expense (Note 24) | 6,575 | 7,168 |
Impairment (Note 24) | 0 | 0 |
Ending balance | $ (33,574) | (29,606) |
Accumulated depreciation | Computer equipment | Previously stated | ||
Reconciliation Of Changes In Right-Of-Use Assets [Abstract] | ||
Beginning balance | 0 | |
Accumulated depreciation | Computer equipment | Adoption of IFRS 16 | ||
Reconciliation Of Changes In Right-Of-Use Assets [Abstract] | ||
Beginning balance | $ (24,787) |
Contract costs (Details)
Contract costs (Details) - CAD ($) $ in Thousands | Sep. 30, 2021 | Sep. 30, 2020 |
Disclosure Of Contract Costs [Line Items] | ||
Transition costs | $ 224,795 | $ 230,706 |
Incentives | 5,767 | 8,670 |
Contract assets | 230,562 | 239,376 |
Cost | ||
Disclosure Of Contract Costs [Line Items] | ||
Transition costs | 487,106 | 477,174 |
Incentives | 52,200 | 67,545 |
Contract assets | 539,306 | 544,719 |
Accumulated amortization | ||
Disclosure Of Contract Costs [Line Items] | ||
Transition costs | 262,311 | 246,468 |
Incentives | 46,433 | 58,875 |
Contract assets | $ 308,744 | $ 305,343 |
Intangible assets (Details)
Intangible assets (Details) - CAD ($) $ in Thousands | 12 Months Ended | |
Sep. 30, 2021 | Sep. 30, 2020 | |
Reconciliation of changes in intangible assets other than goodwill [abstract] | ||
Beginning balance | $ 521,462 | |
Ending balance | 506,793 | $ 521,462 |
Cost | ||
Reconciliation of changes in intangible assets other than goodwill [abstract] | ||
Beginning balance | 2,253,725 | 2,131,754 |
Additions | 114,477 | 110,657 |
Additions - business acquisitions (Note 26a) | 22,107 | 47,810 |
Disposals/retirements | (107,650) | (100,058) |
Foreign currency translation adjustment | (79,073) | 63,562 |
Ending balance | 2,203,586 | 2,253,725 |
Accumulated amortization | ||
Reconciliation of changes in intangible assets other than goodwill [abstract] | ||
Beginning balance | (1,732,263) | (1,613,772) |
Disposals/retirements | 107,650 | 97,393 |
Foreign currency translation adjustment | 61,802 | (47,873) |
Amortization expense (Note 24) | 129,861 | 157,378 |
Impairment (Note 24) | 4,121 | 10,633 |
Ending balance | (1,696,793) | (1,732,263) |
Internal-use software | Acquired | ||
Reconciliation of changes in intangible assets other than goodwill [abstract] | ||
Beginning balance | 12,469 | |
Ending balance | 6,907 | 12,469 |
Internal-use software | Acquired | Cost | ||
Reconciliation of changes in intangible assets other than goodwill [abstract] | ||
Beginning balance | 96,900 | 99,204 |
Additions | 107 | 929 |
Additions - business acquisitions (Note 26a) | 0 | 0 |
Disposals/retirements | (16,427) | (4,652) |
Foreign currency translation adjustment | (1,370) | 1,419 |
Ending balance | 79,210 | 96,900 |
Internal-use software | Acquired | Accumulated amortization | ||
Reconciliation of changes in intangible assets other than goodwill [abstract] | ||
Beginning balance | (84,431) | (80,467) |
Disposals/retirements | 16,427 | 4,652 |
Foreign currency translation adjustment | 1,165 | (1,280) |
Amortization expense (Note 24) | 5,464 | 7,336 |
Impairment (Note 24) | 0 | 0 |
Ending balance | (72,303) | (84,431) |
Internal-use software | Internally developed | ||
Reconciliation of changes in intangible assets other than goodwill [abstract] | ||
Beginning balance | 51,553 | |
Ending balance | 45,057 | 51,553 |
Internal-use software | Internally developed | Cost | ||
Reconciliation of changes in intangible assets other than goodwill [abstract] | ||
Beginning balance | 131,298 | 123,289 |
Additions | 7,712 | 9,861 |
Additions - business acquisitions (Note 26a) | 0 | 0 |
Disposals/retirements | (39,284) | (2,826) |
Foreign currency translation adjustment | (835) | 974 |
Ending balance | 98,891 | 131,298 |
Internal-use software | Internally developed | Accumulated amortization | ||
Reconciliation of changes in intangible assets other than goodwill [abstract] | ||
Beginning balance | (79,745) | (69,095) |
Disposals/retirements | 39,284 | 2,826 |
Foreign currency translation adjustment | 509 | (490) |
Amortization expense (Note 24) | 13,882 | 12,986 |
Impairment (Note 24) | 0 | 0 |
Ending balance | (53,834) | (79,745) |
Business solutions | Acquired | ||
Reconciliation of changes in intangible assets other than goodwill [abstract] | ||
Beginning balance | 1,108 | |
Ending balance | 5,910 | 1,108 |
Business solutions | Acquired | Cost | ||
Reconciliation of changes in intangible assets other than goodwill [abstract] | ||
Beginning balance | 76,278 | 81,028 |
Additions | 0 | 229 |
Additions - business acquisitions (Note 26a) | 8,081 | 0 |
Disposals/retirements | (3,242) | (7,506) |
Foreign currency translation adjustment | (2,476) | 2,527 |
Ending balance | 78,641 | 76,278 |
Business solutions | Acquired | Accumulated amortization | ||
Reconciliation of changes in intangible assets other than goodwill [abstract] | ||
Beginning balance | (75,170) | (79,907) |
Disposals/retirements | 3,242 | 7,506 |
Foreign currency translation adjustment | 2,240 | (2,453) |
Amortization expense (Note 24) | 3,043 | 316 |
Impairment (Note 24) | 0 | 0 |
Ending balance | (72,731) | (75,170) |
Business solutions | Internally developed | ||
Reconciliation of changes in intangible assets other than goodwill [abstract] | ||
Beginning balance | 232,893 | |
Ending balance | 259,253 | 232,893 |
Business solutions | Internally developed | Cost | ||
Reconciliation of changes in intangible assets other than goodwill [abstract] | ||
Beginning balance | 571,015 | 511,384 |
Additions | 85,572 | 88,900 |
Additions - business acquisitions (Note 26a) | 0 | 0 |
Disposals/retirements | (9,041) | (34,810) |
Foreign currency translation adjustment | (22,696) | 5,541 |
Ending balance | 624,850 | 571,015 |
Business solutions | Internally developed | Accumulated amortization | ||
Reconciliation of changes in intangible assets other than goodwill [abstract] | ||
Beginning balance | (338,122) | (317,846) |
Disposals/retirements | 9,041 | 34,810 |
Foreign currency translation adjustment | 12,044 | (2,525) |
Amortization expense (Note 24) | 44,439 | 41,928 |
Impairment (Note 24) | 4,121 | 10,633 |
Ending balance | (365,597) | (338,122) |
Software licenses | ||
Reconciliation of changes in intangible assets other than goodwill [abstract] | ||
Beginning balance | 47,916 | |
Ending balance | 43,173 | 47,916 |
Software licenses | Cost | ||
Reconciliation of changes in intangible assets other than goodwill [abstract] | ||
Beginning balance | 190,372 | 221,510 |
Additions | 21,086 | 10,738 |
Additions - business acquisitions (Note 26a) | 0 | 507 |
Disposals/retirements | (39,656) | (47,888) |
Foreign currency translation adjustment | (4,428) | 5,505 |
Ending balance | 167,374 | 190,372 |
Software licenses | Accumulated amortization | ||
Reconciliation of changes in intangible assets other than goodwill [abstract] | ||
Beginning balance | (142,456) | (159,591) |
Disposals/retirements | 39,656 | 47,146 |
Foreign currency translation adjustment | 3,562 | (3,600) |
Amortization expense (Note 24) | 24,963 | 26,411 |
Impairment (Note 24) | 0 | 0 |
Ending balance | (124,201) | (142,456) |
Client relationships | ||
Reconciliation of changes in intangible assets other than goodwill [abstract] | ||
Beginning balance | 175,523 | |
Ending balance | 146,493 | 175,523 |
Client relationships | Cost | ||
Reconciliation of changes in intangible assets other than goodwill [abstract] | ||
Beginning balance | 1,187,862 | 1,095,339 |
Additions | 0 | 0 |
Additions - business acquisitions (Note 26a) | 14,026 | 47,303 |
Disposals/retirements | 0 | (2,376) |
Foreign currency translation adjustment | (47,268) | 47,596 |
Ending balance | 1,154,620 | 1,187,862 |
Client relationships | Accumulated amortization | ||
Reconciliation of changes in intangible assets other than goodwill [abstract] | ||
Beginning balance | (1,012,339) | (906,866) |
Disposals/retirements | 0 | 453 |
Foreign currency translation adjustment | 42,282 | (37,525) |
Amortization expense (Note 24) | 38,070 | 68,401 |
Impairment (Note 24) | 0 | 0 |
Ending balance | $ (1,008,127) | $ (1,012,339) |
Other long-term assets (Details
Other long-term assets (Details) - CAD ($) $ in Thousands | Sep. 30, 2021 | Sep. 30, 2020 |
Subclassifications of assets, liabilities and equities [abstract] | ||
Prepaid long-term maintenance agreements | $ 32,019 | $ 17,567 |
Insurance contracts held to fund defined benefit pension and life assurance arrangements - reimbursement rights (Note 17) | 21,250 | 24,033 |
Retirement benefits assets (Note 17) | 106,228 | 86,127 |
Deposits | 15,641 | 13,312 |
Deferred financing fees | 2,533 | 3,408 |
Other | 13,841 | 19,292 |
Other long-term assets | $ 191,512 | $ 163,739 |
Long-term financial assets (Det
Long-term financial assets (Details) - CAD ($) $ in Thousands | Sep. 30, 2021 | Sep. 30, 2020 |
Subclassifications of assets, liabilities and equities [abstract] | ||
Deferred compensation plan assets (Notes 17 and 31) | $ 81,633 | $ 73,156 |
Long-term investments (Note 31) | 19,354 | 22,612 |
Long-term receivables | 18,093 | 20,623 |
Long-term derivative financial instruments (Note 31) | 33,578 | 40,178 |
Long-term financial assets | $ 152,658 | $ 156,569 |
Goodwill - Narrative (Details)
Goodwill - Narrative (Details) | 12 Months Ended |
Sep. 30, 2021segment | |
Disclosure of information for cash-generating units [line items] | |
Number of operating segments | 9 |
Maximum | |
Disclosure of information for cash-generating units [line items] | |
Growth rate used to extrapolate cash flow projections | 2.00% |
Goodwill - Movements in goodwil
Goodwill - Movements in goodwill (Details) - Goodwill $ in Thousands | 12 Months Ended |
Sep. 30, 2021CAD ($) | |
Reconciliation of changes in goodwill [abstract] | |
Beginning balance | $ 8,379,931 |
Business acquisitions (Note 26) | 73,499 |
Foreign currency translation adjustment | (313,729) |
Ending balance | 8,139,701 |
Western and Southern Europe | |
Reconciliation of changes in goodwill [abstract] | |
Beginning balance | 1,089,099 |
Business acquisitions (Note 26) | (994) |
Foreign currency translation adjustment | (65,755) |
Ending balance | 1,022,350 |
U.S. Commercial and State Government | |
Reconciliation of changes in goodwill [abstract] | |
Beginning balance | 1,147,307 |
Business acquisitions (Note 26) | 75,697 |
Foreign currency translation adjustment | (53,232) |
Ending balance | 1,169,772 |
Canada | |
Reconciliation of changes in goodwill [abstract] | |
Beginning balance | 1,142,148 |
Business acquisitions (Note 26) | 0 |
Foreign currency translation adjustment | 0 |
Ending balance | 1,142,148 |
U.S. Federal | |
Reconciliation of changes in goodwill [abstract] | |
Beginning balance | 999,162 |
Business acquisitions (Note 26) | (2,740) |
Foreign currency translation adjustment | (48,640) |
Ending balance | 947,782 |
U.K. and Australia | |
Reconciliation of changes in goodwill [abstract] | |
Beginning balance | 904,972 |
Business acquisitions (Note 26) | (276) |
Foreign currency translation adjustment | (8,775) |
Ending balance | 895,921 |
Central and Eastern Europe | |
Reconciliation of changes in goodwill [abstract] | |
Beginning balance | 985,849 |
Business acquisitions (Note 26) | 1,812 |
Foreign currency translation adjustment | (56,300) |
Ending balance | 931,361 |
Scandinavia | |
Reconciliation of changes in goodwill [abstract] | |
Beginning balance | 1,169,873 |
Business acquisitions (Note 26) | 0 |
Foreign currency translation adjustment | (29,300) |
Ending balance | 1,140,573 |
Finland, Poland and Baltics | |
Reconciliation of changes in goodwill [abstract] | |
Beginning balance | 659,878 |
Business acquisitions (Note 26) | 0 |
Foreign currency translation adjustment | (39,888) |
Ending balance | 619,990 |
Asia Pacific | |
Reconciliation of changes in goodwill [abstract] | |
Beginning balance | 281,643 |
Business acquisitions (Note 26) | 0 |
Foreign currency translation adjustment | (11,839) |
Ending balance | $ 269,804 |
Goodwill - Key assumptions for
Goodwill - Key assumptions for cash-generating units (Details) | Sep. 30, 2021 | Sep. 30, 2020 |
Maximum | ||
Disclosure of information for cash-generating units [line items] | ||
Growth rate used to extrapolate cash flow projections | 2.00% | |
Western and Southern Europe | ||
Disclosure of information for cash-generating units [line items] | ||
Pre-tax WACC | 10.00% | 11.20% |
Growth rate used to extrapolate cash flow projections | 1.60% | 1.70% |
U.S. Commercial and State Government | ||
Disclosure of information for cash-generating units [line items] | ||
Pre-tax WACC | 8.50% | 9.30% |
Growth rate used to extrapolate cash flow projections | 2.00% | 2.00% |
Canada | ||
Disclosure of information for cash-generating units [line items] | ||
Pre-tax WACC | 9.10% | 9.60% |
Growth rate used to extrapolate cash flow projections | 2.00% | 2.00% |
U.S. Federal | ||
Disclosure of information for cash-generating units [line items] | ||
Pre-tax WACC | 8.10% | 8.50% |
Growth rate used to extrapolate cash flow projections | 2.00% | 2.00% |
U.K. and Australia | ||
Disclosure of information for cash-generating units [line items] | ||
Pre-tax WACC | 8.80% | 9.30% |
Growth rate used to extrapolate cash flow projections | 1.90% | 2.00% |
Central and Eastern Europe | ||
Disclosure of information for cash-generating units [line items] | ||
Pre-tax WACC | 9.40% | 10.20% |
Growth rate used to extrapolate cash flow projections | 1.80% | 1.90% |
Scandinavia | ||
Disclosure of information for cash-generating units [line items] | ||
Pre-tax WACC | 9.30% | 10.00% |
Growth rate used to extrapolate cash flow projections | 1.80% | 1.90% |
Finland, Poland and Baltics | ||
Disclosure of information for cash-generating units [line items] | ||
Pre-tax WACC | 9.50% | 10.80% |
Growth rate used to extrapolate cash flow projections | 1.70% | 1.70% |
Asia Pacific | ||
Disclosure of information for cash-generating units [line items] | ||
Pre-tax WACC | 18.50% | 23.00% |
Growth rate used to extrapolate cash flow projections | 2.00% | 2.00% |
Provisions (Details)
Provisions (Details) - CAD ($) $ in Thousands | 12 Months Ended | |
Sep. 30, 2021 | Sep. 30, 2020 | |
Reconciliation of changes in other provisions [abstract] | ||
Beginning balance | $ 199,520 | |
Additional provisions | 55,975 | |
Utilized amounts | (146,897) | |
Reversals of unused amounts | (12,395) | |
Discount rate adjustment and imputed interest | 117 | |
Foreign currency translation adjustment | (6,195) | |
Ending balance | 90,125 | $ 199,520 |
Current portion | 63,549 | 175,632 |
Non-current portion | 26,576 | 23,888 |
Restructuring costs | 0 | 155,411 |
Termination of employment costs | 144,202 | |
Impairment of PP&E | 1,035 | |
Impairment of right of use assets | 0 | 5,092 |
Other restructuring costs | 5,082 | |
Restructuring | ||
Reconciliation of changes in other provisions [abstract] | ||
Beginning balance | 115,272 | |
Additional provisions | 1,008 | |
Utilized amounts | (93,340) | |
Reversals of unused amounts | 0 | |
Discount rate adjustment and imputed interest | 0 | |
Foreign currency translation adjustment | (3,292) | |
Ending balance | 19,648 | 115,272 |
Current portion | 19,289 | |
Non-current portion | 359 | |
Decommissioning liabilities | ||
Reconciliation of changes in other provisions [abstract] | ||
Beginning balance | 26,561 | |
Additional provisions | 2,239 | |
Utilized amounts | (2,677) | |
Reversals of unused amounts | (437) | |
Discount rate adjustment and imputed interest | 117 | |
Foreign currency translation adjustment | (951) | |
Ending balance | 24,852 | 26,561 |
Current portion | 4,466 | |
Non-current portion | 20,386 | |
Provisons based on expected cash flows | $ 25,491 | |
Weighted average rate | 0.57% | |
Others | ||
Reconciliation of changes in other provisions [abstract] | ||
Beginning balance | $ 57,687 | |
Additional provisions | 52,728 | |
Utilized amounts | (50,880) | |
Reversals of unused amounts | (11,958) | |
Discount rate adjustment and imputed interest | 0 | |
Foreign currency translation adjustment | (1,952) | |
Ending balance | 45,625 | $ 57,687 |
Current portion | 39,794 | |
Non-current portion | $ 5,831 | |
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 | 12 years |
Long-term debt - Long-term debt
Long-term debt - Long-term debt (Details) € in Thousands, $ in Thousands, $ in Thousands | Sep. 30, 2021CAD ($) | Sep. 30, 2021CAD ($) | Sep. 30, 2021CAD ($)paymenttranche | Sep. 30, 2021USD ($)paymenttranche | Sep. 30, 2021EUR (€)paymenttranche | Sep. 30, 2020CAD ($) | Sep. 30, 2021USD ($) |
Disclosure of detailed information about borrowings [line items] | |||||||
Borrowings | $ 3,401,656 | $ 3,401,656 | $ 3,401,656 | $ 3,587,095 | |||
Current portion | 392,727 | 392,727 | 392,727 | 310,764 | |||
Long-term debt | 3,008,929 | 3,008,929 | 3,008,929 | 3,276,331 | |||
Proceeds from borrowings | 1,885,262 | 1,807,167 | |||||
Repayments of borrowings | 1,888,777 | 106,496 | |||||
Settled cross-currency swap agreements | |||||||
Disclosure of detailed information about borrowings [line items] | |||||||
Notional amount | 145,500 | 145,500 | 145,500 | ||||
Senior U.S. unsecured notes, repayable in 2021 | |||||||
Disclosure of detailed information about borrowings [line items] | |||||||
Borrowings | 318,009 | $ 318,009 | $ 318,009 | 339,682 | |||
Proceeds from borrowings | $ 316,900 | ||||||
Borrowings, number of tranches | tranche | 1 | 1 | 1 | ||||
Borrowings, interest rate | 4.99% | 4.99% | 4.99% | 4.99% | |||
Senior U.S. unsecured notes, repayable in 2021 | Not later than three months | |||||||
Disclosure of detailed information about borrowings [line items] | |||||||
Borrowings | $ 316,900 | $ 316,900 | $ 316,900 | $ 250,000 | |||
Senior U.S. unsecured notes, repayable in 2021 | Interest rate swaps | Fair value hedges | |||||||
Disclosure of detailed information about borrowings [line items] | |||||||
Fair value adjustments relating to interest rate swaps designated as fair value hedges | 1,132 | ||||||
Senior U.S. unsecured notes, repayable from 2022 to 2024 | |||||||
Disclosure of detailed information about borrowings [line items] | |||||||
Borrowings | 570,298 | $ 570,298 | $ 570,298 | $ 872,283 | |||
Number of remaining yearly payments | payment | 3 | 3 | 3 | ||||
Proceeds from borrowings | $ 570,420 | ||||||
Borrowings, number of tranches | tranche | 2 | 2 | 2 | ||||
Borrowings, number of yearly payments | payment | 7 | 7 | 7 | ||||
Repayments of borrowings | $ 55,000 | ||||||
Senior U.S. unsecured notes, repayable from 2022 to 2024 | Weighted average | |||||||
Disclosure of detailed information about borrowings [line items] | |||||||
Borrowings, interest rate | 3.95% | 3.95% | 3.95% | 3.64% | 3.95% | ||
Borrowings, maturity term | 2 years 7 months 6 days | 2 years 7 months 6 days | 2 years 7 months 6 days | ||||
Senior U.S. unsecured notes, repayable from 2022 to 2024 | Later than two years and not later than three years | |||||||
Disclosure of detailed information about borrowings [line items] | |||||||
Borrowings | $ 380,280 | $ 380,280 | $ 380,280 | $ 300,000 | |||
Senior U.S. unsecured notes, repayable from 2022 to 2024 | Settled cross-currency swap agreements | |||||||
Disclosure of detailed information about borrowings [line items] | |||||||
Repayments of borrowings | 69,542 | ||||||
Senior U.S. unsecured notes, repayable from 2022 to 2024 | Tranche four | |||||||
Disclosure of detailed information about borrowings [line items] | |||||||
Repayments of borrowings | $ 50,000 | ||||||
Senior U.S. unsecured notes, repayable from 2022 to 2024 | Tranche four | Settled cross-currency swap agreements | |||||||
Disclosure of detailed information about borrowings [line items] | |||||||
Repayments of borrowings | 63,220 | ||||||
Senior U.S. unsecured notes, repayable from 2022 to 2024 | Tranche five | Less than one year | |||||||
Disclosure of detailed information about borrowings [line items] | |||||||
Borrowings | 50,000 | ||||||
Senior U.S. unsecured notes, repayable from 2022 to 2024 | Tranche six | Later than one year and not later than two years | |||||||
Disclosure of detailed information about borrowings [line items] | |||||||
Borrowings | 50,000 | ||||||
Senior U.S. unsecured notes, repayable from 2022 to 2024 | Tranche seven | Later than two years and not later than three years | |||||||
Disclosure of detailed information about borrowings [line items] | |||||||
Borrowings | 50,000 | ||||||
Senior U.S. unsecured notes, repayable from 2022 to 2024 | Remaining total tranches | |||||||
Disclosure of detailed information about borrowings [line items] | |||||||
Borrowings | 190,140 | 190,140 | 190,140 | 150,000 | |||
Senior U.S. unsecured notes, repayable from 2026 to 2031 | |||||||
Disclosure of detailed information about borrowings [line items] | |||||||
Borrowings | 1,253,226 | 1,253,226 | $ 1,253,226 | $ 0 | |||
Borrowings, number of tranches | tranche | 2 | 2 | 2 | ||||
Notional amount | $ 1,000,000 | ||||||
Senior U.S. unsecured notes, repayable from 2026 to 2031 | Gross carrying amount | |||||||
Disclosure of detailed information about borrowings [line items] | |||||||
Borrowings | $ 1,267,600 | $ 1,267,600 | $ 1,267,600 | ||||
Senior U.S. unsecured notes, repayable from 2026 to 2031 | Weighted average | |||||||
Disclosure of detailed information about borrowings [line items] | |||||||
Borrowings, interest rate | 1.79% | 1.79% | 1.79% | 1.79% | |||
Borrowings, maturity term | 7 years | 7 years | 7 years | ||||
Senior U.S. unsecured notes, repayable from 2026 to 2031 | Later than four years and not later than five years | |||||||
Disclosure of detailed information about borrowings [line items] | |||||||
Borrowings | $ 760,560 | $ 760,560 | $ 760,560 | $ 600,000 | |||
Senior U.S. unsecured notes, repayable from 2026 to 2031 | Beyond five years | |||||||
Disclosure of detailed information about borrowings [line items] | |||||||
Borrowings | 507,040 | 507,040 | 507,040 | $ 400,000 | |||
Senior unsecured notes, repayable in 2028 | |||||||
Disclosure of detailed information about borrowings [line items] | |||||||
Borrowings | $ 595,331 | $ 595,331 | $ 595,331 | 0 | |||
Borrowings, interest rate | 2.10% | 2.10% | 2.10% | 2.10% | |||
Notional amount | $ 600,000 | $ 600,000 | $ 600,000 | ||||
Senior unsecured notes, repayable in 2028 | Gross carrying amount | |||||||
Disclosure of detailed information about borrowings [line items] | |||||||
Borrowings | 600,000 | 600,000 | 600,000 | ||||
Senior unsecured notes, repayable in 2028 | Beyond five years | |||||||
Disclosure of detailed information about borrowings [line items] | |||||||
Borrowings | $ 600,000 | ||||||
Unsecured committed term loan credit facility | |||||||
Disclosure of detailed information about borrowings [line items] | |||||||
Borrowings | 633,623 | 633,623 | 633,623 | 2,330,288 | |||
Unsecured committed term loan credit facility | Gross carrying amount | |||||||
Disclosure of detailed information about borrowings [line items] | |||||||
Borrowings | 633,800 | 633,800 | 633,800 | ||||
Other long-term debt | |||||||
Disclosure of detailed information about borrowings [line items] | |||||||
Borrowings | $ 31,169 | $ 31,169 | 31,169 | $ 44,842 | |||
Senior unsecured euro notes | |||||||
Disclosure of detailed information about borrowings [line items] | |||||||
Repayments of borrowings | $ 126,914 | € 85,000 | |||||
Unsecured committed term loan credit facility, due in 2023 | LIBOR | Weighted average | |||||||
Disclosure of detailed information about borrowings [line items] | |||||||
Borrowings, interest rate | 1.09% | 1.09% | 1.09% | 1.09% | |||
Unsecured committed term loan credit facility, April 2020 | |||||||
Disclosure of detailed information about borrowings [line items] | |||||||
Repayments of borrowings | $ 1,583,546 | ||||||
Notional amount | $ 1,250,000 |
Long-term debt - Narrative (Det
Long-term debt - Narrative (Details) - CAD ($) | Oct. 29, 2021 | Sep. 30, 2021 | Sep. 30, 2020 |
Disclosure of detailed information about borrowings [line items] | |||
Borrowings | $ 3,401,656,000 | $ 3,587,095,000 | |
Unsecured committed revolving credit facility | |||
Disclosure of detailed information about borrowings [line items] | |||
Borrowings, capacity of unsecured credit facility | 1,500,000,000 | ||
Borrowings | 0 | ||
Collateral amount against facility to cover letters of credits | $ 6,628,000 | ||
Borrowings, extension period | 2 years |
Other long-term liabilities (De
Other long-term liabilities (Details) - CAD ($) $ in Thousands | Sep. 30, 2021 | Sep. 30, 2020 |
Subclassifications of assets, liabilities and equities [abstract] | ||
Deferred revenue | $ 59,349 | $ 38,466 |
Deferred compensation plan liabilities (Note 17) | 91,943 | 82,221 |
Other | 51,370 | 64,687 |
Other long-term liabilities | 202,662 | 185,374 |
Deferral of the employer side of social security payments under the CARES Act | $ 33,686 | $ 48,299 |
Income taxes - Disclosure of in
Income taxes - Disclosure of income tax expense (Details) - CAD ($) $ in Thousands | 12 Months Ended | |
Sep. 30, 2021 | Sep. 30, 2020 | |
Current income tax expense | ||
Current income tax expense in respect of the current year | $ 475,833 | $ 416,563 |
Adjustments recognized in the current year in relation to the income tax expense of prior years | 19,021 | (24,328) |
Total current income tax expense | 494,854 | 392,235 |
Deferred income tax (recovery) expense | ||
Deferred income tax recovery relating to the origination and reversal of temporary differences | (6,165) | (1,120) |
Deferred income tax recovery relating to changes in tax rates | (460) | (3,479) |
Adjustments recognized in the current year in relation to the deferred income tax recovery of prior years | (19,309) | 10,769 |
Total deferred income tax (recovery) expense | (25,934) | 6,170 |
Total income tax expense | $ 468,920 | $ 398,405 |
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, 2021 | Sep. 30, 2020 | |
Income Taxes [Abstract] | ||
Company's statutory tax rate | 26.50% | 26.50% |
Effect of foreign tax rate differences | (1.00%) | (0.90%) |
Final determination from agreements with tax authorities and expirations of statutes of limitations | 0.20% | (0.90%) |
Non-deductible and tax exempt items | (0.40%) | 0.20% |
Recognition of previously unrecognized temporary differences | (0.20%) | 0.00% |
Effect of integration-related costs | 0.00% | 0.70% |
Minimum income tax charge | 0.40% | 0.90% |
Changes in tax laws and rates | 0.00% | (0.20%) |
Effective income tax rate | 25.50% | 26.30% |
Income taxes - Disclosure of th
Income taxes - Disclosure of the continuity of deferred tax balances (Details) - CAD ($) $ in Thousands | 12 Months Ended | |
Sep. 30, 2021 | Sep. 30, 2020 | |
Reconciliation of changes in deferred tax liability (asset) [abstract] | ||
Beginning balance | $ (44,857) | $ (46,136) |
Additions from business acquisitions | (1,678) | (4,080) |
Recognized in earnings | 25,934 | (6,170) |
Recognized in other comprehensive income | (20,619) | 23,143 |
Recognized in equity | 6,137 | (16,933) |
Foreign currency translation adjustment and other | (597) | 5,319 |
Ending balance | (35,680) | (44,857) |
Previously stated | ||
Reconciliation of changes in deferred tax liability (asset) [abstract] | ||
Beginning balance | (77,726) | |
Adoption of IFRS 16 | ||
Reconciliation of changes in deferred tax liability (asset) [abstract] | ||
Beginning balance | 31,590 | |
Accounts payable and accrued liabilities, provisions and other long-term liabilities | ||
Reconciliation of changes in deferred tax liability (asset) [abstract] | ||
Beginning balance | 64,208 | 50,776 |
Additions from business acquisitions | (2,427) | 47 |
Recognized in earnings | (7,553) | 12,819 |
Recognized in other comprehensive income | (1) | (7) |
Recognized in equity | 0 | 0 |
Foreign currency translation adjustment and other | (3,071) | 573 |
Ending balance | 51,156 | 64,208 |
Accounts payable and accrued liabilities, provisions and other long-term liabilities | Previously stated | ||
Reconciliation of changes in deferred tax liability (asset) [abstract] | ||
Beginning balance | 67,926 | |
Accounts payable and accrued liabilities, provisions and other long-term liabilities | Adoption of IFRS 16 | ||
Reconciliation of changes in deferred tax liability (asset) [abstract] | ||
Beginning balance | (17,150) | |
Tax benefits on losses carried forward | ||
Reconciliation of changes in deferred tax liability (asset) [abstract] | ||
Beginning balance | 46,228 | 59,163 |
Additions from business acquisitions | 4,654 | 886 |
Recognized in earnings | (6,284) | (17,492) |
Recognized in other comprehensive income | 0 | 0 |
Recognized in equity | 0 | 0 |
Foreign currency translation adjustment and other | (1,417) | 3,671 |
Ending balance | 43,181 | 46,228 |
Tax benefits on losses carried forward | Previously stated | ||
Reconciliation of changes in deferred tax liability (asset) [abstract] | ||
Beginning balance | 59,163 | |
Tax benefits on losses carried forward | Adoption of IFRS 16 | ||
Reconciliation of changes in deferred tax liability (asset) [abstract] | ||
Beginning balance | 0 | |
Accrued compensation and employee-related liabilities | ||
Reconciliation of changes in deferred tax liability (asset) [abstract] | ||
Beginning balance | 27,420 | 45,407 |
Additions from business acquisitions | 0 | 0 |
Recognized in earnings | 7,811 | (2,464) |
Recognized in other comprehensive income | 0 | 0 |
Recognized in equity | 6,137 | (16,933) |
Foreign currency translation adjustment and other | (1,260) | 1,410 |
Ending balance | 40,108 | 27,420 |
Accrued compensation and employee-related liabilities | Previously stated | ||
Reconciliation of changes in deferred tax liability (asset) [abstract] | ||
Beginning balance | 45,407 | |
Accrued compensation and employee-related liabilities | Adoption of IFRS 16 | ||
Reconciliation of changes in deferred tax liability (asset) [abstract] | ||
Beginning balance | 0 | |
Retirement benefits obligations | ||
Reconciliation of changes in deferred tax liability (asset) [abstract] | ||
Beginning balance | 23,166 | 17,904 |
Additions from business acquisitions | 0 | 60 |
Recognized in earnings | 2,573 | (4,959) |
Recognized in other comprehensive income | (5,919) | 8,282 |
Recognized in equity | 0 | 0 |
Foreign currency translation adjustment and other | (2,259) | 1,879 |
Ending balance | 17,561 | 23,166 |
Retirement benefits obligations | Previously stated | ||
Reconciliation of changes in deferred tax liability (asset) [abstract] | ||
Beginning balance | 17,904 | |
Retirement benefits obligations | Adoption of IFRS 16 | ||
Reconciliation of changes in deferred tax liability (asset) [abstract] | ||
Beginning balance | 0 | |
Lease liabilities | ||
Reconciliation of changes in deferred tax liability (asset) [abstract] | ||
Beginning balance | 222,997 | 231,562 |
Additions from business acquisitions | 0 | 3,751 |
Recognized in earnings | (36,103) | (18,864) |
Recognized in other comprehensive income | 0 | 0 |
Recognized in equity | 0 | 0 |
Foreign currency translation adjustment and other | (7,576) | 6,548 |
Ending balance | 179,318 | 222,997 |
Lease liabilities | Previously stated | ||
Reconciliation of changes in deferred tax liability (asset) [abstract] | ||
Beginning balance | 0 | |
Lease liabilities | Adoption of IFRS 16 | ||
Reconciliation of changes in deferred tax liability (asset) [abstract] | ||
Beginning balance | 231,562 | |
PP&E, contract costs, intangible assets and other long-term assets | ||
Reconciliation of changes in deferred tax liability (asset) [abstract] | ||
Beginning balance | (136,460) | (123,147) |
Additions from business acquisitions | (3,905) | (5,933) |
Recognized in earnings | 14,280 | (6,710) |
Recognized in other comprehensive income | 0 | 0 |
Recognized in equity | 0 | 0 |
Foreign currency translation adjustment and other | 4,776 | (670) |
Ending balance | (121,309) | (136,460) |
PP&E, contract costs, intangible assets and other long-term assets | Previously stated | ||
Reconciliation of changes in deferred tax liability (asset) [abstract] | ||
Beginning balance | (123,147) | |
PP&E, contract costs, intangible assets and other long-term assets | Adoption of IFRS 16 | ||
Reconciliation of changes in deferred tax liability (asset) [abstract] | ||
Beginning balance | 0 | |
Right-of-use assets | ||
Reconciliation of changes in deferred tax liability (asset) [abstract] | ||
Beginning balance | (171,835) | (182,822) |
Additions from business acquisitions | 0 | (3,658) |
Recognized in earnings | 31,255 | 21,133 |
Recognized in other comprehensive income | 0 | 0 |
Recognized in equity | 0 | 0 |
Foreign currency translation adjustment and other | 5,772 | (6,488) |
Ending balance | (134,808) | (171,835) |
Right-of-use assets | Previously stated | ||
Reconciliation of changes in deferred tax liability (asset) [abstract] | ||
Beginning balance | 0 | |
Right-of-use assets | Adoption of IFRS 16 | ||
Reconciliation of changes in deferred tax liability (asset) [abstract] | ||
Beginning balance | (182,822) | |
Work in progress | ||
Reconciliation of changes in deferred tax liability (asset) [abstract] | ||
Beginning balance | (34,277) | (43,569) |
Additions from business acquisitions | 0 | 170 |
Recognized in earnings | 11,139 | 9,532 |
Recognized in other comprehensive income | 0 | 0 |
Recognized in equity | 0 | 0 |
Foreign currency translation adjustment and other | 948 | (410) |
Ending balance | (22,190) | (34,277) |
Work in progress | Previously stated | ||
Reconciliation of changes in deferred tax liability (asset) [abstract] | ||
Beginning balance | (43,569) | |
Work in progress | Adoption of IFRS 16 | ||
Reconciliation of changes in deferred tax liability (asset) [abstract] | ||
Beginning balance | 0 | |
Goodwill | ||
Reconciliation of changes in deferred tax liability (asset) [abstract] | ||
Beginning balance | (64,209) | (60,366) |
Additions from business acquisitions | 0 | (757) |
Recognized in earnings | (10,493) | (2,127) |
Recognized in other comprehensive income | 0 | 0 |
Recognized in equity | 0 | 0 |
Foreign currency translation adjustment and other | 3,857 | (959) |
Ending balance | (70,845) | (64,209) |
Goodwill | Previously stated | ||
Reconciliation of changes in deferred tax liability (asset) [abstract] | ||
Beginning balance | (60,366) | |
Goodwill | Adoption of IFRS 16 | ||
Reconciliation of changes in deferred tax liability (asset) [abstract] | ||
Beginning balance | 0 | |
Refundable tax credits on salaries | ||
Reconciliation of changes in deferred tax liability (asset) [abstract] | ||
Beginning balance | (22,724) | (25,819) |
Additions from business acquisitions | 0 | 0 |
Recognized in earnings | 3,051 | 3,095 |
Recognized in other comprehensive income | 0 | 0 |
Recognized in equity | 0 | 0 |
Foreign currency translation adjustment and other | 0 | 0 |
Ending balance | (19,673) | (22,724) |
Refundable tax credits on salaries | Previously stated | ||
Reconciliation of changes in deferred tax liability (asset) [abstract] | ||
Beginning balance | (25,819) | |
Refundable tax credits on salaries | Adoption of IFRS 16 | ||
Reconciliation of changes in deferred tax liability (asset) [abstract] | ||
Beginning balance | 0 | |
Cash flow hedges | ||
Reconciliation of changes in deferred tax liability (asset) [abstract] | ||
Beginning balance | (475) | (13,903) |
Additions from business acquisitions | 0 | 0 |
Recognized in earnings | 675 | (869) |
Recognized in other comprehensive income | (6,157) | 13,773 |
Recognized in equity | 0 | 0 |
Foreign currency translation adjustment and other | 331 | 524 |
Ending balance | (5,626) | (475) |
Cash flow hedges | Previously stated | ||
Reconciliation of changes in deferred tax liability (asset) [abstract] | ||
Beginning balance | (13,903) | |
Cash flow hedges | Adoption of IFRS 16 | ||
Reconciliation of changes in deferred tax liability (asset) [abstract] | ||
Beginning balance | 0 | |
Other | ||
Reconciliation of changes in deferred tax liability (asset) [abstract] | ||
Beginning balance | 1,104 | (1,322) |
Additions from business acquisitions | 0 | 1,354 |
Recognized in earnings | 15,583 | 736 |
Recognized in other comprehensive income | (8,542) | 1,095 |
Recognized in equity | 0 | 0 |
Foreign currency translation adjustment and other | (698) | (759) |
Ending balance | $ 7,447 | 1,104 |
Other | Previously stated | ||
Reconciliation of changes in deferred tax liability (asset) [abstract] | ||
Beginning balance | (1,322) | |
Other | Adoption of IFRS 16 | ||
Reconciliation of changes in deferred tax liability (asset) [abstract] | ||
Beginning balance | $ 0 |
Income taxes - Disclosure of de
Income taxes - Disclosure of deferred tax balances (Details) - CAD ($) $ in Thousands | Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2019 |
Income Taxes [Abstract] | |||
Deferred tax assets | $ 96,358 | $ 113,484 | |
Deferred tax liabilities | (132,038) | (158,341) | |
Deferred tax assets (liabilities) | $ (35,680) | $ (44,857) | $ (46,136) |
Income taxes - Narrative (Detai
Income taxes - Narrative (Details) - CAD ($) $ in Thousands | Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2019 |
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
Net deferred tax asset | $ 38,371 | $ 41,380 | |
Cash and cash equivalents | 1,699,206 | 1,707,985 | $ 213,831 |
Operating tax losses carried forward | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
Tax losses carried forward | 225,002 | 291,255 | |
Deferred tax asset is recognised from loss | 162,693 | 217,563 | |
Non-operating tax losses carried forward | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
Tax losses carried forward | 469,097 | 485,546 | |
Net deferred tax asset | 4,810 | 4,848 | |
Deferred tax asset is recognised from loss | 20,534 | 19,436 | |
Unrecognized losses | 448,563 | 466,110 | |
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 | 82,548 | 59,390 | |
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 | 142,454 | 231,865 | |
Unrecognized losses | 36,984 | 42,053 | |
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 | 25,325 | 31,639 | |
Foreign countries | Subsidiaries | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
Cash and cash equivalents | 1,420,634 | 836,101 | |
Undistributed earnings from foreign subsidiaries for which deferred tax liabilities have not been recorded | $ 6,290,351 | $ 5,565,437 |
Employee benefits - Narrative (
Employee benefits - Narrative (Details) | 12 Months Ended | |
Sep. 30, 2021CAD ($)plan | Sep. 30, 2020CAD ($) | |
Disclosure of defined benefit plans [line items] | ||
Deficit in plan | $ 98,260,000 | $ 139,320,000 |
Administration expenses paid from the plan | 1,408,000 | 1,247,000 |
Annual contributions | 8,534,000 | |
Pension cost for defined contribution plans | 224,010,000 | 228,998,000 |
Deferred compensation plan liabilities | 91,943,000 | 82,221,000 |
Deferred compensation plan assets | $ 81,633,000 | 73,156,000 |
U.K. | ||
Disclosure of defined benefit plans [line items] | ||
Number of defined benefit pension plans | plan | 3 | |
Deficit in plan | $ (105,351,000) | (85,509,000) |
Annual contributions | 1,673,000 | |
Other | ||
Disclosure of defined benefit plans [line items] | ||
Deficit in plan | 45,119,000 | 49,755,000 |
Annual contributions | 6,861,000 | |
U.S. | ||
Disclosure of defined benefit plans [line items] | ||
Deferred compensation plan assets | $ 81,245,000 | 72,743,000 |
CMG U.K. Pension Scheme | U.K. | ||
Disclosure of defined benefit plans [line items] | ||
Equity investments, target allocation percentage of plan assets | 70.00% | |
Administrative expenses and future services paid from the plan | $ 1,336,000 | |
Deficit in plan | 26,546,000 | |
Contributions to plan by employer | 12,432,000 | |
Administration expenses paid from the plan | 1,279,000 | |
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% | |
Administrative expenses and future services paid from the plan | $ 282,000 | |
Logica Defined Benefit Pension Plan | 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% | |
Contributions to plan by employer | 344,200 | |
Alecta multi-employer plan | ||
Disclosure of defined benefit plans [line items] | ||
Annual contributions | $ 26,825,000 | |
Pension cost for defined contribution plans | $ 31,807,000 | $ 30,269,000 |
Proportion of total contributions to the plan | 0.65% | |
Proportion of total number of active members in the plan | 0.49% | |
Collective funding solvency percentage | 169.00% | 144.00% |
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 - Post-employ
Employee benefits - Post-employment benefits plan (Details) - CAD ($) $ in Thousands | Sep. 30, 2021 | Sep. 30, 2020 |
Disclosure of defined benefit plans [line items] | ||
Defined benefit obligations | $ (1,134,554) | $ (1,163,744) |
Fair value of plan assets | 1,036,294 | 1,024,424 |
Surplus (deficit) in plan | (98,260) | (139,320) |
Fair value of reimbursement rights | 21,250 | 24,033 |
Net asset (liability) recognized in the balance sheet | (77,010) | (115,287) |
Retirement benefits assets | 106,228 | 86,127 |
Retirement benefits obligations | (204,488) | (225,447) |
U.K. | ||
Disclosure of defined benefit plans [line items] | ||
Defined benefit obligations | (881,008) | (891,628) |
Fair value of plan assets | 986,359 | 977,137 |
Surplus (deficit) in plan | 105,351 | 85,509 |
Fair value of reimbursement rights | 0 | 0 |
Net asset (liability) recognized in the balance sheet | 105,351 | 85,509 |
Retirement benefits assets | 105,351 | 85,509 |
Retirement benefits obligations | 0 | 0 |
Germany | ||
Disclosure of defined benefit plans [line items] | ||
Defined benefit obligations | (94,381) | (104,090) |
Fair value of plan assets | 12,234 | 12,766 |
Surplus (deficit) in plan | (82,147) | (91,324) |
Fair value of reimbursement rights | 20,823 | 22,505 |
Net asset (liability) recognized in the balance sheet | (61,324) | (68,819) |
Retirement benefits assets | 0 | 0 |
Retirement benefits obligations | (82,147) | (91,324) |
France | ||
Disclosure of defined benefit plans [line items] | ||
Defined benefit obligations | (77,006) | (84,442) |
Fair value of plan assets | 661 | 692 |
Surplus (deficit) in plan | (76,345) | (83,750) |
Fair value of reimbursement rights | 0 | 0 |
Net asset (liability) recognized in the balance sheet | (76,345) | (83,750) |
Retirement benefits assets | 0 | 0 |
Retirement benefits obligations | (76,345) | (83,750) |
Other | ||
Disclosure of defined benefit plans [line items] | ||
Defined benefit obligations | (82,159) | (83,584) |
Fair value of plan assets | 37,040 | 33,829 |
Surplus (deficit) in plan | (45,119) | (49,755) |
Fair value of reimbursement rights | 427 | 1,528 |
Net asset (liability) recognized in the balance sheet | (44,692) | (48,227) |
Retirement benefits assets | 877 | 618 |
Retirement benefits obligations | $ (45,996) | $ (50,373) |
Employee benefits - Defined ben
Employee benefits - Defined benefit obligations (Details) - CAD ($) $ in Thousands | 12 Months Ended | |
Sep. 30, 2021 | Sep. 30, 2020 | |
Disclosure of net defined benefit liability (asset) [line items] | ||
Defined benefit liability (asset), beginning balance | $ 115,287 | |
Current service cost | 15,878 | $ 14,475 |
Interest cost | 1,005 | 629 |
Past service cost | 346 | 0 |
Defined benefit liability (asset), ending balance | 77,010 | 115,287 |
U.K. | ||
Disclosure of net defined benefit liability (asset) [line items] | ||
Defined benefit liability (asset), beginning balance | (85,509) | |
Defined benefit liability (asset), ending balance | (105,351) | (85,509) |
Germany | ||
Disclosure of net defined benefit liability (asset) [line items] | ||
Defined benefit liability (asset), beginning balance | 68,819 | |
Defined benefit liability (asset), ending balance | 61,324 | 68,819 |
France | ||
Disclosure of net defined benefit liability (asset) [line items] | ||
Defined benefit liability (asset), beginning balance | 83,750 | |
Defined benefit liability (asset), ending balance | 76,345 | 83,750 |
Other | ||
Disclosure of net defined benefit liability (asset) [line items] | ||
Defined benefit liability (asset), beginning balance | 48,227 | |
Defined benefit liability (asset), ending balance | 44,692 | 48,227 |
Defined benefit obligations | ||
Disclosure of net defined benefit liability (asset) [line items] | ||
Defined benefit liability (asset), beginning balance | 1,163,744 | 1,044,584 |
Current service cost | 15,878 | 14,475 |
Interest cost | 17,528 | 19,054 |
Past service cost | 346 | |
Actuarial losses (gains) due to change in financial assumptions | 16,474 | 40,294 |
Actuarial (gains) losses due to experience | (13,530) | (5,883) |
Plan participant contributions | 92 | 91 |
Benefits paid from the plan | (34,510) | (32,864) |
Benefits paid directly by employer | (7,688) | (5,073) |
Foreign currency translation adjustment | (23,780) | 63,262 |
Business acquisitions (Note 26c) | 1,732 | |
Actuarial losses due to change in demographic assumptions | 24,072 | |
Defined benefit liability (asset), ending balance | 1,134,554 | 1,163,744 |
Defined benefit obligations | Unfunded Plans | ||
Disclosure of net defined benefit liability (asset) [line items] | ||
Defined benefit liability (asset), beginning balance | 119,512 | |
Defined benefit liability (asset), ending balance | 117,497 | 119,512 |
Defined benefit obligations | Funded Plans | ||
Disclosure of net defined benefit liability (asset) [line items] | ||
Defined benefit liability (asset), beginning balance | 1,044,232 | |
Defined benefit liability (asset), ending balance | 1,017,057 | 1,044,232 |
Defined benefit obligations | U.K. | ||
Disclosure of net defined benefit liability (asset) [line items] | ||
Defined benefit liability (asset), beginning balance | 891,628 | 812,179 |
Current service cost | 1,114 | 1,060 |
Interest cost | 13,490 | 15,253 |
Past service cost | 346 | |
Actuarial losses (gains) due to change in financial assumptions | 21,722 | 36,135 |
Actuarial (gains) losses due to experience | (9,994) | (8,033) |
Plan participant contributions | 92 | 91 |
Benefits paid from the plan | (29,936) | (28,793) |
Benefits paid directly by employer | 0 | 0 |
Foreign currency translation adjustment | (7,454) | 46,065 |
Business acquisitions (Note 26c) | 0 | |
Actuarial losses due to change in demographic assumptions | 17,671 | |
Defined benefit liability (asset), ending balance | 881,008 | 891,628 |
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 | 891,628 | |
Defined benefit liability (asset), ending balance | 881,008 | 891,628 |
Defined benefit obligations | Germany | ||
Disclosure of net defined benefit liability (asset) [line items] | ||
Defined benefit liability (asset), beginning balance | 104,090 | 101,298 |
Current service cost | 665 | 776 |
Interest cost | 642 | 576 |
Past service cost | 0 | |
Actuarial losses (gains) due to change in financial assumptions | (1,201) | (1,258) |
Actuarial (gains) losses due to experience | 521 | (530) |
Plan participant contributions | 0 | 0 |
Benefits paid from the plan | (1,053) | (1,645) |
Benefits paid directly by employer | (2,954) | (2,787) |
Foreign currency translation adjustment | (6,329) | 7,660 |
Business acquisitions (Note 26c) | 0 | |
Actuarial losses due to change in demographic assumptions | 0 | |
Defined benefit liability (asset), ending balance | 94,381 | 104,090 |
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 | 104,090 | |
Defined benefit liability (asset), ending balance | 94,381 | 104,090 |
Defined benefit obligations | France | ||
Disclosure of net defined benefit liability (asset) [line items] | ||
Defined benefit liability (asset), beginning balance | 84,442 | 58,048 |
Current service cost | 6,004 | 4,665 |
Interest cost | 529 | 347 |
Past service cost | 0 | |
Actuarial losses (gains) due to change in financial assumptions | (2,922) | 4,279 |
Actuarial (gains) losses due to experience | (3,498) | 4,054 |
Plan participant contributions | 0 | 0 |
Benefits paid from the plan | 0 | 0 |
Benefits paid directly by employer | (2,492) | (454) |
Foreign currency translation adjustment | (5,057) | 5,370 |
Business acquisitions (Note 26c) | 1,732 | |
Actuarial losses due to change in demographic assumptions | 6,401 | |
Defined benefit liability (asset), ending balance | 77,006 | 84,442 |
Defined benefit obligations | France | Unfunded Plans | ||
Disclosure of net defined benefit liability (asset) [line items] | ||
Defined benefit liability (asset), beginning balance | 84,442 | |
Defined benefit liability (asset), ending balance | 77,006 | 84,442 |
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 | 83,584 | 73,059 |
Current service cost | 8,095 | 7,974 |
Interest cost | 2,867 | 2,878 |
Past service cost | 0 | |
Actuarial losses (gains) due to change in financial assumptions | (1,125) | 1,138 |
Actuarial (gains) losses due to experience | (559) | (1,374) |
Plan participant contributions | 0 | 0 |
Benefits paid from the plan | (3,521) | (2,426) |
Benefits paid directly by employer | (2,242) | (1,832) |
Foreign currency translation adjustment | (4,940) | 4,167 |
Business acquisitions (Note 26c) | 0 | |
Actuarial losses due to change in demographic assumptions | 0 | |
Defined benefit liability (asset), ending balance | 82,159 | 83,584 |
Defined benefit obligations | Other | Unfunded Plans | ||
Disclosure of net defined benefit liability (asset) [line items] | ||
Defined benefit liability (asset), beginning balance | 35,070 | |
Defined benefit liability (asset), ending balance | 40,491 | 35,070 |
Defined benefit obligations | Other | Funded Plans | ||
Disclosure of net defined benefit liability (asset) [line items] | ||
Defined benefit liability (asset), beginning balance | 48,514 | |
Defined benefit liability (asset), ending balance | $ 41,668 | $ 48,514 |
Employee benefits - Plan assets
Employee benefits - Plan assets and reimbursement rights (Details) - CAD ($) $ in Thousands | 12 Months Ended | |
Sep. 30, 2021 | Sep. 30, 2020 | |
Disclosure of net defined benefit liability (asset) [line items] | ||
Defined benefit liability (asset), beginning balance | $ (115,287) | |
Interest income on plan assets | 1,005 | $ 629 |
Administration expenses paid from the plan | 1,408 | 1,247 |
Defined benefit liability (asset), ending balance | (77,010) | (115,287) |
Plan assets | 1,036,294 | 1,024,424 |
Reimbursement rights | 21,250 | 24,033 |
Plan assets and reimbursement rights | ||
Disclosure of net defined benefit liability (asset) [line items] | ||
Defined benefit liability (asset), beginning balance | 1,048,457 | 971,874 |
Interest income on plan assets | 16,523 | 18,426 |
Business acquisitions (Note 26c) | 664 | |
Employer contributions | 15,243 | 24,156 |
Return on assets excluding interest income | 34,479 | 15,626 |
Plan participants contributions | 485 | 91 |
Benefits paid from the plan | (34,510) | (32,864) |
Benefits paid directly by employer | (7,688) | (5,072) |
Administration expenses paid from the plan | (1,408) | (1,247) |
Foreign currency translation adjustment | (14,037) | 56,803 |
Defined benefit liability (asset), ending balance | 1,057,544 | 1,048,457 |
Plan assets | 1,036,294 | 1,024,424 |
Reimbursement rights | 21,250 | 24,033 |
U.K. | ||
Disclosure of net defined benefit liability (asset) [line items] | ||
Defined benefit liability (asset), beginning balance | 85,509 | |
Defined benefit liability (asset), ending balance | 105,351 | 85,509 |
Plan assets | 986,359 | 977,137 |
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 | 977,137 | 908,406 |
Interest income on plan assets | 14,795 | 17,255 |
Business acquisitions (Note 26c) | 0 | |
Employer contributions | 1,640 | 14,398 |
Return on assets excluding interest income | 32,252 | 15,976 |
Plan participants contributions | 92 | 91 |
Benefits paid from the plan | (29,936) | (28,793) |
Benefits paid directly by employer | 0 | 0 |
Administration expenses paid from the plan | (1,400) | (1,189) |
Foreign currency translation adjustment | (8,221) | 50,993 |
Defined benefit liability (asset), ending balance | 986,359 | 977,137 |
Plan assets | 986,359 | 977,137 |
Reimbursement rights | 0 | 0 |
Germany | ||
Disclosure of net defined benefit liability (asset) [line items] | ||
Defined benefit liability (asset), beginning balance | (68,819) | |
Defined benefit liability (asset), ending balance | (61,324) | (68,819) |
Plan assets | 12,234 | 12,766 |
Reimbursement rights | 20,823 | 22,505 |
Germany | Plan assets and reimbursement rights | ||
Disclosure of net defined benefit liability (asset) [line items] | ||
Defined benefit liability (asset), beginning balance | 35,271 | 35,163 |
Interest income on plan assets | 216 | 204 |
Business acquisitions (Note 26c) | 0 | |
Employer contributions | 3,462 | 2,430 |
Return on assets excluding interest income | 384 | 46 |
Plan participants contributions | 0 | 0 |
Benefits paid from the plan | (1,053) | (1,645) |
Benefits paid directly by employer | (2,954) | (2,787) |
Administration expenses paid from the plan | 0 | 0 |
Foreign currency translation adjustment | (2,269) | 1,860 |
Defined benefit liability (asset), ending balance | 33,057 | 35,271 |
Plan assets | 12,234 | 12,766 |
Reimbursement rights | 20,823 | 22,505 |
France | ||
Disclosure of net defined benefit liability (asset) [line items] | ||
Defined benefit liability (asset), beginning balance | (83,750) | |
Defined benefit liability (asset), ending balance | (76,345) | (83,750) |
Plan assets | 661 | 692 |
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 | 692 | 0 |
Interest income on plan assets | 5 | 3 |
Business acquisitions (Note 26c) | 664 | |
Employer contributions | 2,492 | 454 |
Return on assets excluding interest income | 7 | 0 |
Plan participants contributions | 0 | 0 |
Benefits paid from the plan | 0 | 0 |
Benefits paid directly by employer | (2,492) | (454) |
Administration expenses paid from the plan | 0 | 0 |
Foreign currency translation adjustment | (43) | 25 |
Defined benefit liability (asset), ending balance | 661 | 692 |
Plan assets | 661 | 692 |
Reimbursement rights | 0 | 0 |
Other | ||
Disclosure of net defined benefit liability (asset) [line items] | ||
Defined benefit liability (asset), beginning balance | (48,227) | |
Defined benefit liability (asset), ending balance | (44,692) | (48,227) |
Plan assets | 37,040 | 33,829 |
Reimbursement rights | 427 | 1,528 |
Other | Plan assets and reimbursement rights | ||
Disclosure of net defined benefit liability (asset) [line items] | ||
Defined benefit liability (asset), beginning balance | 35,357 | 28,305 |
Interest income on plan assets | 1,507 | 964 |
Business acquisitions (Note 26c) | 0 | |
Employer contributions | 7,649 | 6,874 |
Return on assets excluding interest income | 1,836 | (396) |
Plan participants contributions | 393 | 0 |
Benefits paid from the plan | (3,521) | (2,426) |
Benefits paid directly by employer | (2,242) | (1,831) |
Administration expenses paid from the plan | (8) | (58) |
Foreign currency translation adjustment | (3,504) | 3,925 |
Defined benefit liability (asset), ending balance | 37,467 | 35,357 |
Plan assets | 37,040 | 33,829 |
Reimbursement rights | $ 427 | $ 1,528 |
Employee benefits - Fair value
Employee benefits - Fair value of plan assets (Details) - CAD ($) $ in Thousands | Sep. 30, 2021 | Sep. 30, 2020 |
Disclosure of fair value of plan assets [line items] | ||
Quoted equities | $ 426,066 | $ 472,318 |
Quoted bonds | 109,787 | 93,003 |
Cash | 37,038 | 52,318 |
Other | 463,403 | 406,785 |
Plan assets | 1,036,294 | 1,024,424 |
U.K. | ||
Disclosure of fair value of plan assets [line items] | ||
Quoted equities | 426,066 | 472,318 |
Quoted bonds | 109,787 | 93,003 |
Cash | 36,974 | 52,230 |
Other | 413,532 | 359,586 |
Plan assets | 986,359 | 977,137 |
Germany | ||
Disclosure of fair value of plan assets [line items] | ||
Quoted equities | 0 | 0 |
Quoted bonds | 0 | 0 |
Cash | 0 | 0 |
Other | 12,234 | 12,766 |
Plan assets | 12,234 | 12,766 |
France | ||
Disclosure of fair value of plan assets [line items] | ||
Quoted equities | 0 | 0 |
Quoted bonds | 0 | 0 |
Cash | 0 | 0 |
Other | 661 | 692 |
Plan assets | 661 | 692 |
Other | ||
Disclosure of fair value of plan assets [line items] | ||
Quoted equities | 0 | 0 |
Quoted bonds | 0 | 0 |
Cash | 64 | 88 |
Other | 36,976 | 33,741 |
Plan assets | $ 37,040 | $ 33,829 |
Employee benefits - Defined b_2
Employee benefits - Defined benefit plan expense (Details) - CAD ($) $ in Thousands | 12 Months Ended | |
Sep. 30, 2021 | Sep. 30, 2020 | |
Disclosure of defined benefit plans [line items] | ||
Current service cost | $ 15,878 | $ 14,475 |
Past service cost | 346 | 0 |
Net interest on net defined benefit obligations or assets | 1,005 | 629 |
Administration expenses | 1,408 | 1,247 |
Defined benefit plan expenses | 18,637 | 16,351 |
Costs of services, selling and administrative | ||
Disclosure of defined benefit plans [line items] | ||
Defined benefit plan expenses | 16,224 | 14,475 |
Net finance costs | ||
Disclosure of defined benefit plans [line items] | ||
Defined benefit plan expenses | $ 2,413 | $ 1,876 |
Employee benefits - Principal a
Employee benefits - Principal actuarial assumptions regarding defined benefit plans (Details) - year | Sep. 30, 2021 | Sep. 30, 2020 |
U.K. | ||
Disclosure of defined benefit plans [line items] | ||
Discount rate | 2.03% | 1.53% |
Future salary increases | 3.45% | 2.84% |
Future pension increases | 3.38% | 2.82% |
Inflation rate | 3.45% | 2.84% |
Longevity at age 65 for current members, Males | 21.9 | 21.8 |
Longevity at age 65 for current members, Females | 23.8 | 23.7 |
Longevity at age 45 for current members, Males | 23.3 | 23.2 |
Longevity at age 45 for current members, Females | 25.4 | 25.3 |
Germany | ||
Disclosure of defined benefit plans [line items] | ||
Discount rate | 0.88% | 0.65% |
Future salary increases | 2.50% | 2.50% |
Future pension increases | 1.80% | 1.50% |
Inflation rate | 2.00% | 2.00% |
Longevity at age 65 for current members, Males | 21 | 20 |
Longevity at age 65 for current members, Females | 24 | 23 |
Longevity at age 45 for current members, Males | 23 | 24 |
Longevity at age 45 for current members, Females | 26 | 26 |
France | ||
Disclosure of defined benefit plans [line items] | ||
Discount rate | 0.90% | 0.65% |
Future salary increases | 3.75% | 3.79% |
Future pension increases | 0.00% | 0.00% |
Inflation rate | 1.50% | 1.50% |
Other | ||
Disclosure of defined benefit plans [line items] | ||
Discount rate | 3.30% | 3.11% |
Future salary increases | 1.34% | 1.51% |
Future pension increases | 0.07% | 0.08% |
Inflation rate | 2.83% | 2.51% |
Employee benefits - Sensitivity
Employee benefits - Sensitivity analysis for actuarial assumptions (Details) - CAD ($) $ in Thousands | 12 Months Ended | |
Sep. 30, 2021 | Sep. 30, 2020 | |
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 | $ (36,571) | $ (36,622) |
Increase (decrease) in defined benefit obligation due to reasonably possible decrease in actuarial assumption | $ 38,221 | $ 38,192 |
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 | $ (2,986) | $ (3,445) |
Increase (decrease) in defined benefit obligation due to reasonably possible decrease in actuarial assumption | $ 3,144 | $ 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 | $ (2,716) | $ (2,936) |
Increase (decrease) in defined benefit obligation due to reasonably possible decrease in actuarial assumption | $ 2,851 | $ 3,079 |
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 | $ 480 | $ 441 |
Increase (decrease) in defined benefit obligation due to reasonably possible decrease in actuarial assumption | $ (471) | $ (437) |
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 | $ 35 | $ 36 |
Increase (decrease) in defined benefit obligation due to reasonably possible decrease in actuarial assumption | $ (34) | $ (36) |
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 | $ 2,870 | $ 3,091 |
Increase (decrease) in defined benefit obligation due to reasonably possible decrease in actuarial assumption | $ (2,746) | $ (2,962) |
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 | $ 25,254 | $ 18,528 |
Increase (decrease) in defined benefit obligation due to reasonably possible decrease in actuarial assumption | $ (24,480) | $ (18,132) |
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 | $ 1,440 | $ 1,598 |
Increase (decrease) in defined benefit obligation due to reasonably possible decrease in actuarial assumption | $ (1,381) | $ (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 | $ 36,172 | $ 29,148 |
Increase (decrease) in defined benefit obligation due to reasonably possible decrease in actuarial assumption | $ (34,478) | $ (28,207) |
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 | $ 1,440 | $ 1,598 |
Increase (decrease) in defined benefit obligation due to reasonably possible decrease in actuarial assumption | $ (1,381) | $ (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 | $ 2,870 | $ 3,091 |
Increase (decrease) in defined benefit obligation due to reasonably possible decrease in actuarial assumption | $ (2,746) | $ (2,962) |
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 | $ 27,907 | $ 27,126 |
Increase (decrease) in defined benefit obligation due to reasonably possible decrease in actuarial assumption | $ (27,556) | $ (26,843) |
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 | $ 3,131 | $ 3,615 |
Increase (decrease) in defined benefit obligation due to reasonably possible decrease in actuarial assumption | $ (2,761) | $ (3,040) |
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 | $ 555 | $ 558 |
Increase (decrease) in defined benefit obligation due to reasonably possible decrease in actuarial assumption | $ (585) | $ (592) |
Employee benefits - Weighted av
Employee benefits - Weighted average duration of benefit obligations (Details) | 12 Months Ended | |
Sep. 30, 2021 | Sep. 30, 2020 | |
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 | 13 years | 14 years |
France | ||
Disclosure of defined benefit plans [line items] | ||
Weighted average duration of defined benefit obligation | 15 years | 14 years |
Other | ||
Disclosure of defined benefit plans [line items] | ||
Weighted average duration of defined benefit obligation | 12 years | 12 years |
Accumulated other comprehensi_3
Accumulated other comprehensive income (Details) - CAD ($) $ in Thousands | 12 Months Ended | |
Sep. 30, 2021 | Sep. 30, 2020 | |
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 $43,208 ($56,239 as at September 30, 2020) | $ 611,230 | $ 1,002,804 |
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 $41,611 ($63,692 as at September 30, 2020) | (267,149) | (417,462) |
Deferred gains of hedging on cross-currency swaps, net of accumulated income tax expense of $2,369 ($4,049 as at September 30, 2020) | 6,569 | 14,053 |
Net unrealized gains (losses) on cash flow hedges, net of accumulated income tax expense of $1,252 (net of accumulated income tax recovery of $2,554 as at September 30, 2020) | 5,029 | (5,935) |
Net unrealized gains on financial assets at fair value through other comprehensive income, net of accumulated income tax expense of $592 ($1,291 as at September 30, 2020) | 2,191 | 4,340 |
Items that will be reclassified subsequently to net earnings, tax portion: | ||
Net unrealized gains on translating financial statements of foreign operations, accumulated income tax expense (recovery) | 43,208 | 56,239 |
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) | 41,611 | 63,692 |
Deferred costs of hedging on cross-currency swaps, accumulated income tax expense (recovery) | 2,369 | 4,049 |
Net unrealized (losses) gains on cash flow hedges, accumulated income tax expense (recovery) | 1,252 | 2,554 |
Net unrealized gains (losses) on available-for-sale investments, accumulated income tax expense (recovery) | 592 | 1,291 |
Items that will not be reclassified subsequently to net earnings: | ||
Net remeasurement losses on defined benefit plans, net of accumulated income tax recovery of $11,084 ($18,920 as at September 30, 2020) | (26,290) | (52,090) |
Items that will not be reclassified subsequently to net earnings, tax portion: | ||
Net remeasurement losses on defined benefit plans, accumulated income tax expense (recovery) | 11,084 | 18,920 |
Accumulated other comprehensive income | 331,580 | 545,710 |
Net unrealized gains on cash flow hedges previously recognized in other comprehensive income, reclassified to net earnings | 412 | 5,616 |
Net unrealized gains on cash flow hedges previously recognized in other comprehensive income, reclassified to net earnings, income tax expense | (623) | 1,648 |
Deferred costs of hedging on cross-currency swaps | 10,317 | 10,268 |
Reclassification adjustments on other comprehensive income (loss), deferred gains (cost) of hedging, tax | $ 3,719 | $ 3,702 |
Capital stock - Narrative (Deta
Capital stock - Narrative (Details) - Capital stock | 12 Months Ended |
Sep. 30, 2021vote | |
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 out
Capital stock - Schedule of outstanding shares (Details) $ in Thousands | Mar. 01, 2021shares | Jan. 26, 2021shares | Sep. 30, 2021CAD ($)shares | Sep. 30, 2020CAD ($)shares |
Reconciliation of number of shares outstanding [abstract] | ||||
Beginning balance | $ 7,264,160 | $ 6,790,230 | ||
Issued upon exercise of stock options (in shares) | shares | 1,290,919 | 1,438,877 | ||
Issued upon exercise of stock options | $ 61,054 | $ 57,151 | ||
PSUs exercised | 0 | 0 | ||
Purchased and held in trust | (31,404) | (55,287) | ||
Ending balance | 6,986,232 | 7,264,160 | ||
Purchase and cancellation of Class A subordinate voting shares | $ 1,502,824 | $ 1,043,517 | ||
Capital stock | ||||
Reconciliation of number of shares outstanding [abstract] | ||||
Beginning balance (in shares) | shares | 259,636,581,000 | 268,803,168,000 | ||
Beginning balance | $ 1,761,873 | $ 1,903,977 | ||
Issued upon exercise of stock options (in shares) | shares | 1,290,919,000 | 1,438,877,000 | ||
Issued upon exercise of stock options | $ 73,827 | $ 69,420 | ||
PSUs exercised (in shares) | shares | 0 | 0 | ||
PSUs exercised | $ 7,150 | $ 9,078 | ||
Purchased and cancelled (in shares) | shares | (15,310,465,000) | (10,605,464,000) | ||
Purchased and cancelled | $ (177,560) | $ (165,315) | ||
Purchased and not cancelled (in shares) | shares | 0 | |||
Purchased and not cancelled | $ (1,181) | |||
Purchased and held in trust (in shares) | shares | 0 | 0 | ||
Purchased and held in trust | $ (31,404) | $ (55,287) | ||
Conversion of shares (in shares) | shares | 0 | |||
Conversion of shares | $ 0 | |||
Ending balance (in shares) | shares | 245,617,035,000 | 259,636,581,000 | ||
Ending balance | $ 1,632,705 | $ 1,761,873 | ||
Capital stock | Class A subordinate voting shares | ||||
Reconciliation of number of shares outstanding [abstract] | ||||
Beginning balance (in shares) | shares | 230,690,875,000 | 239,857,462,000 | ||
Beginning balance | $ 1,721,491 | $ 1,863,595 | ||
Issued upon exercise of stock options (in shares) | shares | 1,290,919,000 | 1,438,877,000 | ||
Issued upon exercise of stock options | $ 73,827 | $ 69,420 | ||
PSUs exercised (in shares) | shares | 0 | 0 | ||
PSUs exercised | $ 7,150 | $ 9,078 | ||
Purchased and cancelled (in shares) | shares | (15,310,465,000) | (10,605,464,000) | ||
Purchased and cancelled | $ (177,560) | $ (165,315) | ||
Purchased and not cancelled (in shares) | shares | 0 | |||
Purchased and not cancelled | $ (1,181) | |||
Purchased and held in trust (in shares) | shares | 0 | 0 | ||
Purchased and held in trust | $ (31,404) | $ (55,287) | ||
Conversion of shares (in shares) | shares | 2,500,000 | 2,500,000,000 | ||
Conversion of shares | $ 3,488 | |||
Ending balance (in shares) | shares | 219,171,329,000 | 230,690,875,000 | ||
Ending balance | $ 1,595,811 | $ 1,721,491 | ||
Shares purchased (in shares) | shares | 309,606 | 525,331 | ||
Capital stock | Class A subordinate voting shares | Major ordinary share transactions | ||||
Reconciliation of number of shares outstanding [abstract] | ||||
Purchased and cancelled (in shares) | shares | (150,000) | |||
Purchased and cancelled | $ (1,181) | |||
Purchase and cancellation of Class A subordinate voting shares | $ 16,402 | |||
Capital stock | Class B multiple voting shares | ||||
Reconciliation of number of shares outstanding [abstract] | ||||
Beginning balance (in shares) | shares | 28,945,706,000 | 28,945,706,000 | ||
Beginning balance | $ 40,382 | $ 40,382 | ||
Issued upon exercise of stock options (in shares) | shares | 0 | 0 | ||
Issued upon exercise of stock options | $ 0 | $ 0 | ||
PSUs exercised (in shares) | shares | 0 | 0 | ||
PSUs exercised | $ 0 | $ 0 | ||
Purchased and cancelled (in shares) | shares | 0 | 0 | ||
Purchased and cancelled | $ 0 | $ 0 | ||
Purchased and not cancelled (in shares) | shares | 0 | |||
Purchased and not cancelled | $ 0 | |||
Purchased and held in trust (in shares) | shares | 0 | 0 | ||
Purchased and held in trust | $ 0 | $ 0 | ||
Conversion of shares (in shares) | shares | 2,500,000 | (2,500,000,000) | ||
Conversion of shares | $ (3,488) | |||
Ending balance (in shares) | shares | 26,445,706,000 | 28,945,706,000 | ||
Ending balance | $ 36,894 | $ 40,382 | ||
Contributed surplus | ||||
Reconciliation of number of shares outstanding [abstract] | ||||
Beginning balance | 252,935 | 245,577 | ||
Issued upon exercise of stock options | (12,773) | (12,269) | ||
PSUs exercised | (7,150) | (9,078) | ||
Ending balance | 289,718 | 252,935 | ||
Contributed surplus | Class A subordinate voting shares | ||||
Reconciliation of number of shares outstanding [abstract] | ||||
Issued upon exercise of stock options | 12,773 | 12,269 | ||
Retained earnings | ||||
Reconciliation of number of shares outstanding [abstract] | ||||
Beginning balance | 4,703,642 | 4,463,982 | ||
Ending balance | $ 4,732,229 | $ 4,703,642 | ||
PSUs | ||||
Reconciliation of number of shares outstanding [abstract] | ||||
PSUs exercised (in shares) | shares | 119,108 | 157,788 | ||
PSUs | Capital stock | ||||
Reconciliation of number of shares outstanding [abstract] | ||||
PSUs exercised (in shares) | shares | 119,108 | 157,788 | ||
PSUs | Capital stock | Class A subordinate voting shares | ||||
Reconciliation of number of shares outstanding [abstract] | ||||
Shares outstanding, held in trust (in shares) | shares | 1,433,521 | 1,243,022 | ||
Normal Course Issuer Bid | Capital stock | Class A subordinate voting shares | ||||
Reconciliation of number of shares outstanding [abstract] | ||||
Purchased and cancelled (in shares) | shares | (11,255,600) | (4,596,559) | ||
Purchased and cancelled | $ (1,119,226) | $ (443,517) | ||
Number of shares authorized for purchase and cancellation (in shares) | shares | 19,184,831 | |||
Normal Course Issuer Bid | Retained earnings | Class A subordinate voting shares | ||||
Reconciliation of number of shares outstanding [abstract] | ||||
Purchased and cancelled | $ (1,030,437) | $ (406,747) | ||
Normal Course Issuer Bid - Caisse De Depot | Capital stock | Class A subordinate voting shares | ||||
Reconciliation of number of shares outstanding [abstract] | ||||
Purchased and cancelled (in shares) | shares | (4,204,865) | (6,008,905) | ||
Purchased and cancelled | $ (400,000) | $ (600,000) | ||
Normal Course Issuer Bid - Caisse De Depot | Retained earnings | Class A subordinate voting shares | ||||
Reconciliation of number of shares outstanding [abstract] | ||||
Purchased and cancelled | $ (310,048) | $ (471,455) |
Share-based payments - Stock op
Share-based payments - Stock options (Details) - $ / shares | 12 Months Ended | |
Sep. 30, 2021 | Sep. 30, 2020 | |
Disclosure of classes of share capital [line items] | ||
Weighted average share price for share options at date of exercise (in CAD per share) | $ 104.75 | $ 99.79 |
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 voting shares | ||
Disclosure of classes of share capital [line items] | ||
Number of shares reserved for issuance under the stock option plan (in shares) | 15,139,513 |
Share-based payments - Disclosu
Share-based payments - Disclosure of information concerning outstanding stock options (Details) | 12 Months Ended | |
Sep. 30, 2021shares$ / shares | Sep. 30, 2020shares$ / shares | |
Share-Based Payment Arrangements [Abstract] | ||
Outstanding, beginning of year (in shares) | shares | 8,934,097 | 9,891,592 |
Granted (in shares) | shares | 995,160 | 913,560 |
Exercised (in shares) | shares | (1,290,919) | (1,438,877) |
Forfeited (in shares) | shares | (622,940) | (431,223) |
Expired (in shares) | shares | (3,321) | (955) |
Outstanding, end of year (in shares) | shares | 8,012,077 | 8,934,097 |
Exercisable, end of year (in shares) | shares | 5,781,579 | 5,748,402 |
Outstanding, beginning of year (in CAD per share) | $ / shares | $ 61.33 | $ 54.64 |
Granted (in CAD per share) | $ / shares | 97.86 | 110.65 |
Excercised (in CAD per share) | $ / shares | 47.29 | 39.72 |
Forfeited (in CAD per share) | $ / shares | 107.82 | 84.50 |
Expired (in CAD per share) | $ / shares | 108.44 | 74.55 |
Outstanding, end of year (in CAD per share) | $ / shares | 64.49 | 61.33 |
Excercisable (in CAD per share) | $ / shares | $ 54.76 | $ 49.02 |
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, 2021shares$ / shares | Sep. 30, 2020shares$ / shares | Sep. 30, 2019shares$ / shares | |
Disclosure of number and weighted average remaining contractual life of outstanding share options [line items] | |||
Number of options outstanding (in shares) | shares | 8,012,077 | 8,934,097 | 9,891,592 |
Weighted average remaining contractual life of options outstanding | 5 years 4 months 13 days | ||
Weighted average exercise price of options outstanding (in CAD per share) | $ 64.49 | $ 61.33 | $ 54.64 |
Number of options exercisable (in shares) | shares | 5,781,579 | 5,748,402 | |
Weighted average exercise price of options exercisable (in CAD per share) | $ 54.76 | $ 49.02 | |
19.30 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 | 1,455,630 | ||
Weighted average remaining contractual life of options outstanding | 1 year 9 months 21 days | ||
Weighted average exercise price of options outstanding (in CAD per share) | $ 30.55 | ||
Number of options exercisable (in shares) | shares | 1,455,630 | ||
Weighted average exercise price of options exercisable (in CAD per share) | $ 30.55 | ||
19.30 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) | 19.30 | ||
19.30 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 | 1,096,265 | ||
Weighted average remaining contractual life of options outstanding | 3 years 8 months 12 days | ||
Weighted average exercise price of options outstanding (in CAD per share) | $ 45.41 | ||
Number of options exercisable (in shares) | shares | 1,096,265 | ||
Weighted average exercise price of options exercisable (in CAD per share) | $ 45.41 | ||
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 | 2,775,587 | ||
Weighted average remaining contractual life of options outstanding | 5 years 5 months 15 days | ||
Weighted average exercise price of options outstanding (in CAD per share) | $ 63.06 | ||
Number of options exercisable (in shares) | shares | 2,419,052 | ||
Weighted average exercise price of options exercisable (in CAD per share) | $ 63.03 | ||
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 | 1,403,429 | ||
Weighted average remaining contractual life of options outstanding | 6 years 11 months 1 day | ||
Weighted average exercise price of options outstanding (in CAD per share) | $ 84.04 | ||
Number of options exercisable (in shares) | shares | 725,445 | ||
Weighted average exercise price of options exercisable (in CAD per share) | $ 83.36 | ||
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 | ||
97.84 to 115.01 | |||
Disclosure of number and weighted average remaining contractual life of outstanding share options [line items] | |||
Number of options outstanding (in shares) | shares | 1,281,166 | ||
Weighted average remaining contractual life of options outstanding | 8 years 11 months 4 days | ||
Weighted average exercise price of options outstanding (in CAD per share) | $ 101.09 | ||
Number of options exercisable (in shares) | shares | 85,187 | ||
Weighted average exercise price of options exercisable (in CAD per share) | $ 110.58 | ||
97.84 to 115.01 | Minimum | |||
Disclosure of number and weighted average remaining contractual life of outstanding share options [line items] | |||
Exercise price (in CAD per share) | 97.84 | ||
97.84 to 115.01 | Maximum | |||
Disclosure of number and weighted average remaining contractual life of outstanding share options [line items] | |||
Exercise price (in CAD per share) | $ 115.01 |
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, 2021CAD ($)year$ / shares | Sep. 30, 2020CAD ($)year$ / shares | |
Share-Based Payment Arrangements [Abstract] | ||
Grant date fair value (in CAD per share) | $ | $ 16.76 | $ 17.71 |
Dividend yield (%) | 0.00% | 0.00% |
Expected volatility (%) | 20.76% | 16.60% |
Risk-free interest rate (%) | 0.40% | 1.55% |
Expected life (years) | year | 4 | 4 |
Exercise price (in CAD per share) | $ 97.86 | $ 110.65 |
Share price (in CAD per share) | $ 97.86 | $ 110.65 |
Share-based payments - Performa
Share-based payments - Performance share units (Details) - PSUs | 12 Months Ended |
Sep. 30, 2021planshares | |
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 voting 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, 2021CAD ($)shares | Sep. 30, 2020CAD ($)shares | |
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||
Outstanding, beginning of period (in shares) | 1,231,470 | 861,485 |
Granted (in shares) | 669,252 | 607,342 |
Exercised (in shares) | (119,108) | (157,788) |
Forfeited (in shares) | (365,411) | (79,569) |
Outstanding, end of period (in shares) | 1,416,203 | 1,231,470 |
Grant date fair value (in CAD per share) | $ | $ 94 | $ 107.39 |
Share-based payments - Share pu
Share-based payments - Share purchase plan (Details) | 12 Months Ended |
Sep. 30, 2021 | |
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 (Details) - shares | Sep. 30, 2021 | Sep. 30, 2020 |
DSUs | ||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||
Number of outstanding DSUs (in shares) | 101,578 | 152,743 |
Share-based payments - Disclo_5
Share-based payments - Disclosure of share-based payment expense (Details) - CAD ($) $ in Thousands | 12 Months Ended | |
Sep. 30, 2021 | Sep. 30, 2020 | |
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||
Share-based payment expense | $ 177,130 | $ 164,733 |
Stock options | ||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||
Share-based payment expense | 13,108 | 16,378 |
PSUs | ||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||
Share-based payment expense | 32,484 | 20,979 |
Share purchase plan | ||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||
Share-based payment expense | 128,662 | 127,983 |
DSUs | ||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||
Share-based payment expense | $ 2,876 | $ (607) |
Earnings per share (Details)
Earnings per share (Details) - CAD ($) $ / shares in Units, $ in Thousands | 12 Months Ended | |
Sep. 30, 2021 | Sep. 30, 2020 | |
Earnings per share [line items] | ||
Basic net earnings | $ 1,369,072 | $ 1,117,862 |
Diluted net earnings | $ 1,369,072 | $ 1,117,862 |
Basic weighted average number of ordinary shares outstanding (in shares) | 249,119,219 | 262,005,521 |
Net effect of dilutive stock options and PSUs (in shares) | 3,969,661 | 4,098,541 |
Diluted weighted average number of ordinary shares outstanding (in shares) | 253,088,880 | 266,104,062 |
Basic earnings per share (CAD per share) | $ 5.50 | $ 4.27 |
Diluted earnings per share (CAD per share) | $ 5.41 | $ 4.20 |
Anti-dilutive securities excluded from computation of earnings per share (in shares) | 1,276,809 | 876,213 |
Class A subordinate voting shares | Capital stock | ||
Earnings per share [line items] | ||
Anti-dilutive securities excluded from computation of earnings per share (in shares) | 15,460,465 | 10,605,464 |
PSUs | Class A subordinate voting shares | Capital stock | ||
Earnings per share [line items] | ||
Anti-dilutive securities excluded from computation of earnings per share (in shares) | 1,433,521 | 1,243,022 |
Remaining performance obligat_2
Remaining performance obligations (Details) - CAD ($) $ in Thousands | 12 Months Ended | |
Sep. 30, 2021 | Sep. 30, 2020 | |
Disclosure of performance obligations [abstract] | ||
Transaction price allocated to remaining performance obligations | $ 939,499 | $ 824,854 |
Remaining performance obligations, weighted average average period | 1 year 9 months 18 days | 1 year 4 months 24 days |
Cost of services, selling and_3
Cost of services, selling and administrative (Details) - CAD ($) $ in Thousands | 12 Months Ended | |
Sep. 30, 2021 | Sep. 30, 2020 | |
Analysis of income and expense [abstract] | ||
Salaries and other member costs | $ 7,317,113 | $ 7,264,839 |
Professional fees and other contracted labour | 1,262,659 | 1,355,065 |
Hardware, software and data center related costs | 830,199 | 800,496 |
Property costs | 216,506 | 259,306 |
Amortization, depreciation and impairment (Note 24) | 505,562 | 556,061 |
Other operating expenses | 46,125 | 66,301 |
Costs of services, selling and administrative | 10,178,164 | 10,302,068 |
R&D and other tax credits | $ 167,198 | $ 160,335 |
Amortization, depreciation an_3
Amortization, depreciation and impairment (Details) - CAD ($) $ in Thousands | 12 Months Ended | |
Sep. 30, 2021 | Sep. 30, 2020 | |
Disclosure of impairment loss and reversal of impairment loss [line items] | ||
Included in costs of services, selling and administrative (Note 23) | $ 510,570 | $ 565,692 |
Amortization of contract costs related to incentives (presented as a reduction of revenue) | 2,611 | 2,535 |
Amortization of deferred financing fees (presented in finance costs) | 875 | 890 |
Amortization of premiums and discounts on investments related to funds held for clients (presented net as a (increase) reduction of revenue) | (102) | 79 |
Impairment of PP&E (presented in restructuring costs) (Note 6 and 13) | 0 | 1,035 |
Impairment of right-of-use assets (presented in restructuring costs) (Note 7 and 13) | 0 | 5,092 |
Impairment of PP&E (presented in integration costs) (Note 6) | 1,113 | 0 |
Impairment of right-of-use assets (presented in integration costs) (Note 7) | 511 | 0 |
Amortization, depreciation and impairment | 510,570 | 565,692 |
Costs of services, selling and administrative | ||
Disclosure of impairment loss and reversal of impairment loss [line items] | ||
Depreciation of PP&E (Note 6) | 144,423 | 156,590 |
Depreciation of right-of-use assets (Note 7) | 160,240 | 168,239 |
Impairment of right-of-use assets (Note 7) | 956 | 3,269 |
Amortization of contract costs related to transition costs | 61,369 | 55,905 |
Impairment of contract costs related to transition costs | 4,592 | 4,047 |
Amortization of intangible assets (Note 9) | 129,861 | 157,378 |
Impairment of intangible assets (Note 9) | 4,121 | 10,633 |
Included in costs of services, selling and administrative (Note 23) | 505,562 | 556,061 |
Amortization, depreciation and impairment | $ 505,562 | $ 556,061 |
Net finance costs (Details)
Net finance costs (Details) - CAD ($) $ in Thousands | 12 Months Ended | |
Sep. 30, 2021 | Sep. 30, 2020 | |
Analysis of income and expense [abstract] | ||
Interest on long-term debt | $ 67,467 | $ 75,667 |
Interest on lease liabilities | 33,255 | 33,017 |
Net interest costs on net defined benefit obligations or assets (Note 17) | 2,413 | 1,876 |
Other finance costs | 6,774 | 9,029 |
Finance costs | 109,909 | 119,589 |
Finance income | (3,111) | (5,115) |
Net finance costs | $ 106,798 | $ 114,474 |
Investments in subsidiaries - N
Investments in subsidiaries - Narrative (Details) - CAD ($) $ in Thousands | 12 Months Ended | ||||||||
Sep. 30, 2021 | Sep. 30, 2020 | Oct. 28, 2021 | Oct. 01, 2021 | May 03, 2021 | Dec. 31, 2020 | Mar. 31, 2020 | Jan. 20, 2020 | Dec. 18, 2019 | |
Disclosure of detailed information about business combination [line items] | |||||||||
Identifiable assets acquired (liabilities assumed) | $ 111,513 | $ 281,497 | |||||||
Expenses for acquisition-related and integration costs | 7,371 | 76,794 | |||||||
Acquisition-related costs | 293 | 6,545 | |||||||
Integration costs | 7,078 | 70,249 | |||||||
Termination of employment costs | 1,008 | 49,390 | |||||||
Other integration costs | 6,070 | 20,859 | |||||||
Harris, Mackessy & Brennan, Inc | |||||||||
Disclosure of detailed information about business combination [line items] | |||||||||
Identifiable assets acquired (liabilities assumed) | $ 30,340 | ||||||||
Sense Corp | |||||||||
Disclosure of detailed information about business combination [line items] | |||||||||
Identifiable assets acquired (liabilities assumed) | $ 81,173 | ||||||||
Harris, Mackessy & Brennan, Inc And Sense Corp | |||||||||
Disclosure of detailed information about business combination [line items] | |||||||||
Revenue of acquiree as if combination occurred at beginning of period | 100,000 | ||||||||
Earnings before acquisition related and integration costs, and income taxes | $ 8,000 | ||||||||
SCISYS | |||||||||
Disclosure of detailed information about business combination [line items] | |||||||||
Identifiable assets acquired (liabilities assumed) | 130,260 | $ 130,260 | |||||||
Meti Logiciels et Services SAS | |||||||||
Disclosure of detailed information about business combination [line items] | |||||||||
Identifiable assets acquired (liabilities assumed) | $ 43,404 | ||||||||
TeraThink | |||||||||
Disclosure of detailed information about business combination [line items] | |||||||||
Identifiable assets acquired (liabilities assumed) | $ 99,388 | $ 99,388 | |||||||
Major business combination | Array Holding Company, Inc | |||||||||
Disclosure of detailed information about business combination [line items] | |||||||||
Identifiable assets acquired (liabilities assumed) | $ 63,279 | ||||||||
Major business combination | Cognicase Management Consulting | |||||||||
Disclosure of detailed information about business combination [line items] | |||||||||
Identifiable assets acquired (liabilities assumed) | $ 93,080 |
Investments in subsidiaries - A
Investments in subsidiaries - Assets acquired and liabilities assumed in current fiscal year (Details) - CAD ($) $ in Thousands | Sep. 30, 2021 | Sep. 30, 2020 |
Disclosure of detailed information about borrowings [line items] | ||
Current assets | $ 17,746 | $ 55,683 |
PP&E (Note 6) | 1,869 | 18,900 |
Right-of-use assets (Note 7) | 4,982 | 11,859 |
Intangible assets (Note 9) | 22,107 | 46,523 |
Deferred tax assets | 749 | |
Goodwill | 75,697 | 269,037 |
Current liabilities | (11,859) | (96,578) |
Lease liabilities | (5,733) | (13,592) |
Identifiable assets acquired, net, excluding cash and cash equivalents | 105,558 | 265,493 |
Cash acquired | 5,955 | 16,004 |
Net assets acquired | 111,513 | 281,497 |
Consideration paid | 104,148 | $ 281,497 |
Consideration payable | 7,365 | |
Goodwill expected to be deductible for tax purposes | 23,985 | |
U.S. Commercial and State Government | ||
Disclosure of detailed information about borrowings [line items] | ||
Goodwill | $ 75,697 |
Investments in subsidiaries -_2
Investments in subsidiaries - Assets acquired and liabilities assumed in previous fiscal year (Details) - CAD ($) $ in Thousands | Sep. 30, 2021 | Sep. 30, 2020 | Mar. 31, 2020 | Dec. 18, 2019 |
Disclosure of detailed information about borrowings [line items] | ||||
Current assets | $ 17,746 | $ 55,683 | ||
PP&E (Note 6) | 1,869 | 18,900 | ||
Right-of-use assets (Note 7) | 4,982 | 11,859 | ||
Intangible assets (Note 9) | 22,107 | 46,523 | ||
Goodwill | 75,697 | 269,037 | ||
Current liabilities | (11,859) | (96,578) | ||
Deferred tax liabilities | (4,537) | |||
Retirement benefits obligations (Note 17) | (1,068) | |||
Long-term debt | (20,734) | |||
Lease liabilities | (5,733) | (13,592) | ||
Identifiable assets acquired, net, excluding cash and cash equivalents | 105,558 | 265,493 | ||
Cash acquired | 5,955 | 16,004 | ||
Net assets acquired | 111,513 | 281,497 | ||
Consideration paid | $ 104,148 | 281,497 | ||
Western and Southern Europe | ||||
Disclosure of detailed information about borrowings [line items] | ||||
Goodwill | 32,272 | |||
Canada | ||||
Disclosure of detailed information about borrowings [line items] | ||||
Goodwill | 5,411 | |||
U.S. Federal | ||||
Disclosure of detailed information about borrowings [line items] | ||||
Goodwill | 86,642 | |||
U.K. and Australia | ||||
Disclosure of detailed information about borrowings [line items] | ||||
Goodwill | 53,170 | |||
Central and Eastern Europe | ||||
Disclosure of detailed information about borrowings [line items] | ||||
Goodwill | 91,542 | |||
SCISYS | ||||
Disclosure of detailed information about borrowings [line items] | ||||
Current assets | 28,461 | |||
PP&E (Note 6) | 16,893 | |||
Right-of-use assets (Note 7) | 3,362 | |||
Intangible assets (Note 9) | 16,837 | |||
Goodwill | 144,712 | |||
Current liabilities | (68,254) | |||
Deferred tax liabilities | (3,030) | |||
Retirement benefits obligations (Note 17) | 0 | |||
Long-term debt | (10,880) | |||
Lease liabilities | (4,336) | |||
Identifiable assets acquired, net, excluding cash and cash equivalents | 123,765 | |||
Cash acquired | 6,495 | |||
Net assets acquired | 130,260 | $ 130,260 | ||
Consideration paid | 130,260 | |||
TeraThink | ||||
Disclosure of detailed information about borrowings [line items] | ||||
Current assets | 14,227 | |||
PP&E (Note 6) | 1,369 | |||
Right-of-use assets (Note 7) | 4,228 | |||
Intangible assets (Note 9) | 19,025 | |||
Goodwill | 86,642 | |||
Current liabilities | (13,910) | |||
Deferred tax liabilities | 0 | |||
Retirement benefits obligations (Note 17) | 0 | |||
Long-term debt | (9,732) | |||
Lease liabilities | (4,935) | |||
Identifiable assets acquired, net, excluding cash and cash equivalents | 96,914 | |||
Cash acquired | 2,474 | |||
Net assets acquired | 99,388 | $ 99,388 | ||
Consideration paid | 99,388 | |||
Other | ||||
Disclosure of detailed information about borrowings [line items] | ||||
Current assets | 12,995 | |||
PP&E (Note 6) | 638 | |||
Right-of-use assets (Note 7) | 4,269 | |||
Intangible assets (Note 9) | 10,661 | |||
Goodwill | 37,683 | |||
Current liabilities | (14,414) | |||
Deferred tax liabilities | (1,507) | |||
Retirement benefits obligations (Note 17) | (1,068) | |||
Long-term debt | (122) | |||
Lease liabilities | (4,321) | |||
Identifiable assets acquired, net, excluding cash and cash equivalents | 44,814 | |||
Cash acquired | 7,035 | |||
Net assets acquired | 51,849 | |||
Consideration paid | $ 51,849 |
Supplementary cash flow infor_3
Supplementary cash flow information - Net change in non-cash working capital (Details) - CAD ($) $ in Thousands | 12 Months Ended | |
Sep. 30, 2021 | Sep. 30, 2020 | |
Cash Flow Statement [Abstract] | ||
Accounts receivable | $ (42,336) | $ 225,441 |
Work in progress | (12,354) | 79,809 |
Prepaid expenses and other assets | (33,631) | 21,342 |
Long-term financial assets | (10,241) | (12,081) |
Accounts payable and accrued liabilities | 60,822 | (105,239) |
Accrued compensation and employee-related liabilities | 233,670 | (19,061) |
Deferred revenue | 62,307 | (48,264) |
Income taxes | 59,620 | (56,627) |
Provisions | (105,292) | 76,671 |
Long-term liabilities | 1,535 | 59,822 |
Derivative financial instruments | (249) | 373 |
Retirement benefits obligations | 1,013 | (4,022) |
Net change in non-cash working capital items | $ 214,864 | $ 218,164 |
Supplementary cash flow infor_4
Supplementary cash flow information - Non-cash operating and investing activities (Details) - CAD ($) $ in Thousands | 12 Months Ended | |
Sep. 30, 2021 | Sep. 30, 2020 | |
Operating activities | ||
Accounts payable and accrued liabilities | $ 18,707 | $ 4,788 |
Provisions | 805 | 690 |
Non-cash operating activities | 19,512 | 5,478 |
Investing activities | ||
Purchase of PP&E | (18,162) | (4,698) |
Additions, disposals/retirements and change in estimates and lease modifications of right-of-use assets | (104,467) | (102,584) |
Additions to intangible assets | (1,350) | (780) |
Non-cash investing activities | $ (123,979) | $ (108,062) |
Supplementary cash flow infor_5
Supplementary cash flow information - Financing activities (Details) - CAD ($) $ in Thousands | 12 Months Ended | |
Sep. 30, 2021 | Sep. 30, 2020 | |
Cash used in financing activities excluding equity | ||
Net change in unsecured committed revolving credit facility | $ 0 | $ (334,370) |
Repayment of debt assumed in business acquisitions | 0 | (28,281) |
Settlement of derivative financial instruments | (6,992) | (3,903) |
Non-cash financing activities | ||
Additions, disposals/retirements and change in estimates and lease modifications of right-of-use assets | (104,467) | (102,584) |
Long-term debt | ||
Financing activities | ||
Balance, beginning of year | 3,587,095 | 2,300,868 |
Cash used in financing activities excluding equity | ||
Net change in unsecured committed revolving credit facility | 0 | (334,370) |
Increase of long-term debt | 1,885,262 | 1,807,167 |
Repayment of long-term debt and lease liabilities | (1,888,777) | (106,496) |
Repayment of debt assumed in business acquisitions | 0 | (28,281) |
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 | 0 | 0 |
Additions through business acquisitions (Note 26) | 0 | 19,333 |
Changes in foreign currency exchange rates | (172,984) | (77,126) |
Other | (8,940) | 6,000 |
Balance, end of year | 3,401,656 | 3,587,095 |
Long-term debt | Previously stated | ||
Financing activities | ||
Balance, beginning of year | 3,587,095 | 2,331,207 |
Non-cash financing activities | ||
Balance, end of year | 3,587,095 | |
Long-term debt | Adoption of IFRS 16 | ||
Financing activities | ||
Balance, beginning of year | 0 | (30,339) |
Non-cash financing activities | ||
Balance, end of year | 0 | |
Derivative financial instruments to hedge long-term debt | ||
Financing activities | ||
Balance, beginning of year | 32,234 | (29,894) |
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 | (6,992) | (3,903) |
Non-cash financing activities | ||
Additions, disposals/retirements and change in estimates and lease modifications of right-of-use assets | 0 | 0 |
Additions through business acquisitions (Note 26) | 0 | 0 |
Changes in foreign currency exchange rates | (8,055) | 66,031 |
Other | 0 | 0 |
Balance, end of year | 17,187 | 32,234 |
Derivative financial instruments to hedge long-term debt | Previously stated | ||
Financing activities | ||
Balance, beginning of year | 32,234 | (29,894) |
Non-cash financing activities | ||
Balance, end of year | 32,234 | |
Derivative financial instruments to hedge long-term debt | Adoption of IFRS 16 | ||
Financing activities | ||
Balance, beginning of year | 0 | 0 |
Non-cash financing activities | ||
Balance, end of year | 0 | |
Lease liabilities | ||
Financing activities | ||
Balance, beginning of year | 876,370 | 911,525 |
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 | (174,808) | (175,320) |
Repayment of debt assumed in business acquisitions | 0 | 0 |
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 | 102,281 | 102,584 |
Additions through business acquisitions (Note 26) | 5,733 | 13,592 |
Changes in foreign currency exchange rates | (30,721) | 31,766 |
Other | (1,915) | (7,777) |
Balance, end of year | 776,940 | 876,370 |
Lease liabilities | Previously stated | ||
Financing activities | ||
Balance, beginning of year | 876,370 | 0 |
Non-cash financing activities | ||
Balance, end of year | 876,370 | |
Lease liabilities | Adoption of IFRS 16 | ||
Financing activities | ||
Balance, beginning of year | $ 0 | 911,525 |
Non-cash financing activities | ||
Balance, end of year | $ 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, 2021 | Sep. 30, 2020 | |
Cash Flow Statement [Abstract] | ||
Interest paid | $ 131,646 | $ 131,433 |
Interest received | 15,929 | 21,951 |
Income taxes paid | $ 382,833 | $ 390,867 |
Segmented information - Disclos
Segmented information - Disclosure of operating segment information (Details) - CAD ($) $ in Thousands | 12 Months Ended | |
Sep. 30, 2021 | Sep. 30, 2020 | |
Disclosure of operating segments [line items] | ||
Segment revenue | $ 12,126,793 | $ 12,164,115 |
Segment earnings before acquisition-related and integration costs, net finance costs and income tax expense | 1,952,161 | |
Acquisition-related and integration costs | (7,371) | (76,794) |
Net finance costs (Note 25) | (106,798) | (114,474) |
Segment earnings before acquisition-related and integration costs, restructuring costs, net finance costs and income tax expense | 1,862,946 | |
Restructuring costs | 0 | (155,411) |
Earnings before income taxes | 1,837,992 | 1,516,267 |
Amortization and depreciation, without amortization of deferred financing fees | 508,071 | 558,675 |
Impairment included in amortisation from business solutions and contract costs | 8,713 | 14,680 |
Western and Southern Europe | ||
Disclosure of operating segments [line items] | ||
Segment revenue | 1,963,791 | 1,911,477 |
Segment earnings before acquisition-related and integration costs, net finance costs and income tax expense | 271,324 | |
Segment earnings before acquisition-related and integration costs, restructuring costs, net finance costs and income tax expense | 264,009 | |
Amortization and depreciation, without amortization of deferred financing fees | 63,511 | 64,084 |
Impairment included in amortisation from business solutions and contract costs | 3,058 | |
U.S. Commercial and State Government | ||
Disclosure of operating segments [line items] | ||
Segment revenue | 1,800,747 | 1,863,467 |
Segment earnings before acquisition-related and integration costs, net finance costs and income tax expense | 281,217 | |
Segment earnings before acquisition-related and integration costs, restructuring costs, net finance costs and income tax expense | 295,795 | |
Amortization and depreciation, without amortization of deferred financing fees | 71,037 | 89,150 |
Impairment included in amortisation from business solutions and contract costs | 3,396 | |
Canada | ||
Disclosure of operating segments [line items] | ||
Segment revenue | 1,755,804 | 1,686,269 |
Segment earnings before acquisition-related and integration costs, net finance costs and income tax expense | 390,370 | |
Segment earnings before acquisition-related and integration costs, restructuring costs, net finance costs and income tax expense | 364,424 | |
Amortization and depreciation, without amortization of deferred financing fees | 65,038 | 69,921 |
Impairment included in amortisation from business solutions and contract costs | 3,589 | |
U.S. Federal | ||
Disclosure of operating segments [line items] | ||
Segment revenue | 1,607,431 | 1,712,244 |
Segment earnings before acquisition-related and integration costs, net finance costs and income tax expense | 252,657 | |
Segment earnings before acquisition-related and integration costs, restructuring costs, net finance costs and income tax expense | 221,793 | |
Amortization and depreciation, without amortization of deferred financing fees | 49,636 | 47,443 |
U.K. and Australia | ||
Disclosure of operating segments [line items] | ||
Segment revenue | 1,355,603 | 1,358,469 |
Segment earnings before acquisition-related and integration costs, net finance costs and income tax expense | 218,624 | |
Segment earnings before acquisition-related and integration costs, restructuring costs, net finance costs and income tax expense | 215,924 | |
Amortization and depreciation, without amortization of deferred financing fees | 57,888 | 68,346 |
Central and Eastern Europe | ||
Disclosure of operating segments [line items] | ||
Segment revenue | 1,303,917 | 1,212,196 |
Segment earnings before acquisition-related and integration costs, net finance costs and income tax expense | 149,935 | |
Segment earnings before acquisition-related and integration costs, restructuring costs, net finance costs and income tax expense | 122,548 | |
Amortization and depreciation, without amortization of deferred financing fees | 70,076 | 84,592 |
Scandinavia | ||
Disclosure of operating segments [line items] | ||
Segment revenue | 1,027,902 | 1,104,121 |
Segment earnings before acquisition-related and integration costs, net finance costs and income tax expense | 66,180 | |
Segment earnings before acquisition-related and integration costs, restructuring costs, net finance costs and income tax expense | 57,231 | |
Amortization and depreciation, without amortization of deferred financing fees | 64,371 | 71,590 |
Finland, Poland and Baltics | ||
Disclosure of operating segments [line items] | ||
Segment revenue | 768,994 | 777,152 |
Segment earnings before acquisition-related and integration costs, net finance costs and income tax expense | 114,358 | |
Segment earnings before acquisition-related and integration costs, restructuring costs, net finance costs and income tax expense | 120,959 | |
Amortization and depreciation, without amortization of deferred financing fees | 39,275 | 39,055 |
Impairment included in amortisation from business solutions and contract costs | 3,490 | 4,065 |
Asia Pacific | ||
Disclosure of operating segments [line items] | ||
Segment revenue | 680,554 | 674,946 |
Segment earnings before acquisition-related and integration costs, net finance costs and income tax expense | 207,496 | |
Segment earnings before acquisition-related and integration costs, restructuring costs, net finance costs and income tax expense | 200,263 | |
Amortization and depreciation, without amortization of deferred financing fees | 27,239 | 24,494 |
Eliminations | ||
Disclosure of operating segments [line items] | ||
Segment revenue | (137,950) | (136,226) |
Segment earnings before acquisition-related and integration costs, net finance costs and income tax expense | $ 0 | |
Segment earnings before acquisition-related and integration costs, restructuring costs, net finance costs and income tax expense | $ 0 |
Segmented information - Discl_2
Segmented information - Disclosure of revenue information by location (Details) - CAD ($) $ in Thousands | 12 Months Ended | |
Sep. 30, 2021 | Sep. 30, 2020 | |
Disclosure of geographical areas [line items] | ||
Revenue | $ 12,126,793 | $ 12,164,115 |
U.S. | ||
Disclosure of geographical areas [line items] | ||
Revenue | 3,510,193 | 3,637,070 |
Western and Southern Europe | ||
Disclosure of geographical areas [line items] | ||
Revenue | 1,956,323 | 1,914,705 |
Revenue | 1,963,791 | 1,911,477 |
Western and Southern Europe | France | ||
Disclosure of geographical areas [line items] | ||
Revenue | 1,721,622 | 1,672,355 |
Western and Southern Europe | Portugal | ||
Disclosure of geographical areas [line items] | ||
Revenue | 105,776 | 103,847 |
Western and Southern Europe | Others | ||
Disclosure of geographical areas [line items] | ||
Revenue | 128,925 | 138,503 |
Canada | ||
Disclosure of geographical areas [line items] | ||
Revenue | 1,892,246 | 1,820,265 |
Revenue | 1,755,804 | 1,686,269 |
U.K. and Australia | ||
Disclosure of geographical areas [line items] | ||
Revenue | 1,555,690 | 1,572,427 |
Revenue | 1,355,603 | 1,358,469 |
U.K. and Australia | U.K. | ||
Disclosure of geographical areas [line items] | ||
Revenue | 1,487,774 | 1,508,719 |
U.K. and Australia | Australia | ||
Disclosure of geographical areas [line items] | ||
Revenue | 67,916 | 63,708 |
Central and Eastern Europe | ||
Disclosure of geographical areas [line items] | ||
Revenue | 1,342,234 | 1,252,043 |
Revenue | 1,303,917 | 1,212,196 |
Central and Eastern Europe | Others | ||
Disclosure of geographical areas [line items] | ||
Revenue | 76,211 | 68,537 |
Central and Eastern Europe | Germany | ||
Disclosure of geographical areas [line items] | ||
Revenue | 786,426 | 718,166 |
Central and Eastern Europe | Netherlands | ||
Disclosure of geographical areas [line items] | ||
Revenue | 479,597 | 465,340 |
Scandinavia | ||
Disclosure of geographical areas [line items] | ||
Revenue | 1,073,261 | 1,158,393 |
Revenue | 1,027,902 | 1,104,121 |
Scandinavia | Others | ||
Disclosure of geographical areas [line items] | ||
Revenue | 290,680 | 322,711 |
Scandinavia | Sweden | ||
Disclosure of geographical areas [line items] | ||
Revenue | 782,581 | 835,682 |
Finland, Poland and Baltics | ||
Disclosure of geographical areas [line items] | ||
Revenue | 792,072 | 804,001 |
Revenue | 768,994 | 777,152 |
Finland, Poland and Baltics | Others | ||
Disclosure of geographical areas [line items] | ||
Revenue | 37,660 | 37,269 |
Finland, Poland and Baltics | Finland | ||
Disclosure of geographical areas [line items] | ||
Revenue | 754,412 | 766,732 |
Asia Pacific | ||
Disclosure of geographical areas [line items] | ||
Revenue | 4,774 | 5,211 |
Revenue | 680,554 | 674,946 |
Asia Pacific | Others | ||
Disclosure of geographical areas [line items] | ||
Revenue | 4,774 | 5,211 |
U.S. Commercial and State Government | ||
Disclosure of geographical areas [line items] | ||
Revenue | 1,800,747 | 1,863,467 |
U.S. Commercial and State Government | U.S. | ||
Disclosure of geographical areas [line items] | ||
Revenue | 1,889,999 | 1,902,661 |
U.S. Federal | ||
Disclosure of geographical areas [line items] | ||
Revenue | 1,607,431 | 1,712,244 |
U.S. Federal | U.S. | ||
Disclosure of geographical areas [line items] | ||
Revenue | $ 1,620,194 | $ 1,734,409 |
Segmented information - Discl_3
Segmented information - Disclosure of PP&E, contract costs and intangible assets information by location (Details) - CAD ($) $ in Thousands | Sep. 30, 2021 | Sep. 30, 2020 |
Disclosure of operating segments [line items] | ||
PP&E, contract costs and intangible assets | $ 1,675,654 | $ 1,800,649 |
U.S. | ||
Disclosure of operating segments [line items] | ||
PP&E, contract costs and intangible assets | 488,262 | 487,698 |
Canada | ||
Disclosure of operating segments [line items] | ||
PP&E, contract costs and intangible assets | 388,408 | 412,469 |
U.K. | ||
Disclosure of operating segments [line items] | ||
PP&E, contract costs and intangible assets | 132,897 | 138,391 |
France | ||
Disclosure of operating segments [line items] | ||
PP&E, contract costs and intangible assets | 120,360 | 137,307 |
Sweden | ||
Disclosure of operating segments [line items] | ||
PP&E, contract costs and intangible assets | 140,409 | 162,506 |
Finland | ||
Disclosure of operating segments [line items] | ||
PP&E, contract costs and intangible assets | 89,451 | 93,948 |
Germany | ||
Disclosure of operating segments [line items] | ||
PP&E, contract costs and intangible assets | 105,998 | 107,809 |
Netherlands | ||
Disclosure of operating segments [line items] | ||
PP&E, contract costs and intangible assets | 45,082 | 64,551 |
Rest of the world | ||
Disclosure of operating segments [line items] | ||
PP&E, contract costs and intangible assets | $ 164,787 | $ 195,970 |
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, 2021 | Sep. 30, 2020 | |
Disclosure of products and services [line items] | ||
Revenue | $ 12,126,793 | $ 12,164,115 |
Business consulting, strategic IT consulting and systems integration | ||
Disclosure of products and services [line items] | ||
Revenue | 5,403,826 | 5,554,622 |
Managed IT and business process services | ||
Disclosure of products and services [line items] | ||
Revenue | $ 6,722,967 | $ 6,609,493 |
Segmented information - Narrati
Segmented information - Narrative (Details) - CAD ($) $ in Thousands | 12 Months Ended | |
Sep. 30, 2021 | Sep. 30, 2020 | |
Disclosure of major customers [line items] | ||
Revenue | $ 12,126,793 | $ 12,164,115 |
U.S. Federal | ||
Disclosure of major customers [line items] | ||
Revenue | 1,607,431 | 1,712,244 |
U.S. Federal | Government | ||
Disclosure of major customers [line items] | ||
Revenue | $ 1,550,345 | $ 1,675,326 |
Percentage of revenues | 12.80% | 13.80% |
Related party transactions (Det
Related party transactions (Details) - CAD ($) $ in Thousands | 12 Months Ended | |
Sep. 30, 2021 | Sep. 30, 2020 | |
Related party transactions [abstract] | ||
Short-term employee benefits | $ 30,325 | $ 14,462 |
Share-based payments | $ 19,727 | $ 18,374 |
Commitments, contingencies an_3
Commitments, contingencies and guarantees - Commitments (Details) $ in Thousands | Sep. 30, 2021CAD ($) |
Other Provisions, Contingent Liabilities And Contingent Assets [Abstract] | |
Minimum payments due under long-term service and other agreements | $ 279,823 |
Commitments, contingencies an_4
Commitments, contingencies and guarantees - Disclosure of minimum payments under long-term service and other agreements (Details) $ in Thousands | Sep. 30, 2021CAD ($) |
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | |
Minimum payments due under long-term service and other agreements | $ 279,823 |
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 | 148,663 |
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 | 91,690 |
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 | 38,981 |
Beyond five years | |
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | |
Minimum payments due under long-term service and other agreements | $ 489 |
Commitments, contingencies an_5
Commitments, contingencies and guarantees - Guarantees (Details) $ in Thousands | Sep. 30, 2021CAD ($) |
Disclosure of contingent liabilities [line items] | |
Letters of credit in addition to the letters of credit covered by the unsecured committed revolving credit facility | $ 69,683 |
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 | $ 21,419 |
Financial instruments - Financi
Financial instruments - Financial liabilities included in long-term debt (Details) - CAD ($) $ in Thousands | Sep. 30, 2021 | Sep. 30, 2020 |
Disclosure of financial liabilities [line items] | ||
Financial liabilities | $ 6,793,366 | $ 6,947,475 |
Carrying amount | ||
Disclosure of financial liabilities [line items] | ||
Financial liabilities | 2,768,033 | 1,256,807 |
Fair value | ||
Disclosure of financial liabilities [line items] | ||
Financial liabilities | 2,806,990 | 1,341,168 |
Senior U.S. unsecured notes | Carrying amount | ||
Disclosure of financial liabilities [line items] | ||
Financial liabilities | 888,307 | 1,211,965 |
Senior U.S. unsecured notes | Fair value | ||
Disclosure of financial liabilities [line items] | ||
Financial liabilities | 936,084 | 1,297,632 |
2021 U.S. Senior Notes | Carrying amount | ||
Disclosure of financial liabilities [line items] | ||
Financial liabilities | 1,253,226 | 0 |
2021 U.S. Senior Notes | Fair value | ||
Disclosure of financial liabilities [line items] | ||
Financial liabilities | 1,255,055 | 0 |
2021 CAD Senior Notes | Carrying amount | ||
Disclosure of financial liabilities [line items] | ||
Financial liabilities | 595,331 | 0 |
2021 CAD Senior Notes | Fair value | ||
Disclosure of financial liabilities [line items] | ||
Financial liabilities | 585,506 | 0 |
Other long-term debt | Carrying amount | ||
Disclosure of financial liabilities [line items] | ||
Financial liabilities | 31,169 | 44,842 |
Other long-term debt | Fair value | ||
Disclosure of financial liabilities [line items] | ||
Financial liabilities | $ 30,345 | $ 43,536 |
Financial instruments - Fair va
Financial instruments - Fair value measurement of financial assets and liabilities (Details) - CAD ($) $ in Thousands | Sep. 30, 2021 | Sep. 30, 2020 |
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial assets | $ 15,021,021 | $ 15,550,358 |
Financial liabilities | 8,034,789 | 8,286,198 |
At fair value | FVTE | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial assets | 1,780,839 | 1,781,141 |
At fair value | Derivative financial instruments designated as hedging instruments | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial assets | 51,512 | 57,205 |
Financial assets | 157,010 | 172,555 |
Financial liabilities | 48,281 | 64,950 |
At fair value | Cash and cash equivalents | FVTE | Level 2 | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial assets | 1,699,206 | 1,707,985 |
At fair value | Deferred compensation plan assets (Note 11) | FVTE | Level 1 | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial assets | 81,633 | 73,156 |
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 | 1,027 | 1,473 |
At fair value | Long-term bonds included in funds held for clients (Note 5) | Derivative financial instruments designated as hedging instruments | Level 2 | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial assets | 136,629 | 148,470 |
At fair value | Long-term investments (Note 11) | Derivative financial instruments designated as hedging instruments | Level 2 | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial assets | 19,354 | 22,612 |
Cross-currency swaps | At fair value | Derivative financial instruments designated as hedging instruments | Current derivative financial instruments included in current financial assets | Level 2 | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial liabilities | 5,762 | 5,320 |
Cross-currency swaps | At fair value | Derivative financial instruments designated as hedging instruments | Long-term derivative financial instruments (Note 11) | Level 2 | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial liabilities | 39,918 | 52,275 |
Cross-currency swaps | At fair value | Current derivative financial instruments 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 | 4,146 | 0 |
Cross-currency swaps | At fair value | Long-term derivative financial instruments (Note 11) | Derivative financial instruments designated as hedging instruments | Level 2 | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial assets | 24,347 | 25,362 |
Foreign currency forward contracts | At fair value | Derivative financial instruments designated as hedging instruments | Current derivative financial instruments included in current financial assets | Level 2 | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial liabilities | 735 | 3,008 |
Foreign currency forward contracts | At fair value | Derivative financial instruments designated as hedging instruments | Long-term derivative financial instruments (Note 11) | Level 2 | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial liabilities | 1,866 | 4,347 |
Foreign currency forward contracts | At fair value | Current derivative financial instruments 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 | 12,745 | 17,027 |
Foreign currency forward contracts | At fair value | Long-term derivative financial instruments (Note 11) | Derivative financial instruments designated as hedging instruments | Level 2 | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial assets | 9,231 | 8,636 |
Interest rate swaps | At fair value | Current derivative financial instruments 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 | 1,043 | 0 |
Interest rate swaps | At fair value | Long-term derivative financial instruments (Note 11) | Derivative financial instruments designated as hedging instruments | Level 2 | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial assets | $ 0 | $ 6,180 |
Financial instruments - Finan_2
Financial instruments - Financial instruments by type or interest rate (Details) $ in Thousands, $ in Thousands | Sep. 30, 2021CAD ($) | Sep. 30, 2021USD ($) | Sep. 30, 2020CAD ($) |
Disclosure of information about credit exposures designated as measured at fair value through profit or loss [line items] | |||
Assets | $ 15,021,021 | $ 15,550,358 | |
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 | ||
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 | $ 1,043 | $ 6,180 |
Financial instruments - Narrati
Financial instruments - Narrative (Details) - CAD ($) $ in Thousands | 12 Months Ended | |
Sep. 30, 2021 | Sep. 30, 2020 | |
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Borrowings | $ 3,401,656 | $ 3,587,095 |
Settlement of derivative financial instruments | 6,992 | 3,903 |
Cash and cash equivalents, funds held for clients, short-term investments and long-term investments | 2,312,741 | 2,457,248 |
Available credit facility | 1,493,372 | 1,490,301 |
Trade receivables | 938,417 | $ 904,887 |
Settled cross-currency swap agreements | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Notional amount | $ 145,500 | |
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 | $ 318,009 | |
Senior U.S. unsecured notes | Currency risk | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Borrowings | 1,742,324 | |
Hedges of net investments in European operations | Currency risk | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Notional amount | 1,741,252 | |
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 | 6,992 | |
At fair value | Senior U.S. unsecured notes | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Fair value adjustments relating to interest rate swaps designated as fair value hedges | $ 1,132 |
Financial instruments - Cross-c
Financial instruments - Cross-currency swap agreements (Details) € in Thousands, £ in Thousands, kr in Thousands, $ in Thousands, $ in Thousands | Sep. 30, 2021CAD ($) | Sep. 30, 2021EUR (€) | Sep. 30, 2021GBP (£) | Sep. 30, 2021SEK (kr) | Sep. 30, 2021USD ($) | Sep. 30, 2020CAD ($) |
Cross-currency swaps | ||||||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||||||
Hedges of net investments in European operations | $ (17,187) | $ (32,233) | ||||
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 | 12,859 | 189 | ||||
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 | 228,700 | |||||
Pay Notional | € | € 147,200 | |||||
Hedges of net investments in European operations | Cross-currency swaps in British pound | ||||||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||||||
Hedges of net investments in European operations | 9,814 | 8,977 | ||||
Hedges of net investments in European operations | Cross-currency swaps in British pound | Currency risk | ||||||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||||||
Receive Notional | 136,274 | |||||
Pay Notional | £ | £ 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 | 5,820 | 5,359 | ||||
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 | $ (27,819) | (45,599) | ||||
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 | |||||
Receive Rate | 1.00% | 1.00% | 1.00% | 1.00% | 1.00% | |
Pay Notional | € | € 443,381 | |||||
Cash flow hedges of Senior U.S. unsecured notes | Cross-currency swap agreement between USD to CAD | ||||||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||||||
Cash flow hedges of Senior U.S. unsecured notes | $ (17,861) | $ (1,159) | ||||
Cash flow hedges of Senior U.S. unsecured notes | Cross-currency swap agreement between USD to CAD | Currency risk | ||||||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||||||
Receive Notional | $ 315,000 | |||||
Pay Notional | $ 423,393 | |||||
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 | 3.41% | 3.41% | 3.41% | 3.41% | 3.41% | |
Pay rate | 2.14% | 2.14% | 2.14% | 2.14% | 2.14% | |
Minimum | Hedges of net investments in European operations | Cross-currency swaps in 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 of Senior U.S. unsecured notes | Cross-currency swap agreement between USD to CAD | 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 | 3.41% | 3.41% | 3.41% | 3.41% | 3.41% | |
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 swaps in 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 of Senior U.S. unsecured notes | Cross-currency swap agreement between USD to CAD | 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, 2021USD ($) | Sep. 30, 2021CAD ($) | Sep. 30, 2021EUR (€) | Sep. 30, 2021GBP (£) | Sep. 30, 2021SEK (kr) | Sep. 30, 2020CAD ($) |
USD/INR | ||||||
Disclosure of detailed information about hedges [line items] | ||||||
Notional amount | $ 146,367 | |||||
USD/INR | Less than one year | ||||||
Disclosure of detailed information about hedges [line items] | ||||||
Average rate of hedging instrument | 76.52% | 76.52% | 76.52% | 76.52% | 76.52% | |
USD/INR | More than one year | ||||||
Disclosure of detailed information about hedges [line items] | ||||||
Average rate of hedging instrument | 82.88% | 82.88% | 82.88% | 82.88% | 82.88% | |
CAD/INR | ||||||
Disclosure of detailed information about hedges [line items] | ||||||
Notional amount | $ 266,077 | |||||
CAD/INR | Less than one year | ||||||
Disclosure of detailed information about hedges [line items] | ||||||
Average rate of hedging instrument | 59.50% | 59.50% | 59.50% | 59.50% | 59.50% | |
CAD/INR | More than one year | ||||||
Disclosure of detailed information about hedges [line items] | ||||||
Average rate of hedging instrument | 63.87% | 63.87% | 63.87% | 63.87% | 63.87% | |
EUR/INR | ||||||
Disclosure of detailed information about hedges [line items] | ||||||
Notional amount | € | € 86,244 | |||||
EUR/INR | Less than one year | ||||||
Disclosure of detailed information about hedges [line items] | ||||||
Average rate of hedging instrument | 92.21% | 92.21% | 92.21% | 92.21% | 92.21% | |
EUR/INR | More than one year | ||||||
Disclosure of detailed information about hedges [line items] | ||||||
Average rate of hedging instrument | 99.38% | 99.38% | 99.38% | 99.38% | 99.38% | |
GBP/INR | ||||||
Disclosure of detailed information about hedges [line items] | ||||||
Notional amount | £ | £ 70,552 | |||||
GBP/INR | Less than one year | ||||||
Disclosure of detailed information about hedges [line items] | ||||||
Average rate of hedging instrument | 102.82% | 102.82% | 102.82% | 102.82% | 102.82% | |
GBP/INR | More than one year | ||||||
Disclosure of detailed information about hedges [line items] | ||||||
Average rate of hedging instrument | 111.37% | 111.37% | 111.37% | 111.37% | 111.37% | |
SEK/INR | ||||||
Disclosure of detailed information about hedges [line items] | ||||||
Notional amount | kr | kr 151,588 | |||||
SEK/INR | Less than one year | ||||||
Disclosure of detailed information about hedges [line items] | ||||||
Average rate of hedging instrument | 8.60% | 8.60% | 8.60% | 8.60% | 8.60% | |
SEK/INR | More than one year | ||||||
Disclosure of detailed information about hedges [line items] | ||||||
Average rate of hedging instrument | 9.04% | 9.04% | 9.04% | 9.04% | 9.04% | |
EUR/GBP | ||||||
Disclosure of detailed information about hedges [line items] | ||||||
Notional amount | € | € 31,955 | |||||
EUR/GBP | Less than one year | ||||||
Disclosure of detailed information about hedges [line items] | ||||||
Average rate of hedging instrument | 0.89% | 0.89% | 0.89% | 0.89% | 0.89% | |
EUR/GBP | More than one year | ||||||
Disclosure of detailed information about hedges [line items] | ||||||
Average rate of hedging instrument | 0.89% | 0.89% | 0.89% | 0.89% | 0.89% | |
EUR/MAD | ||||||
Disclosure of detailed information about hedges [line items] | ||||||
Notional amount | € | € 32,196 | |||||
EUR/MAD | Less than one year | ||||||
Disclosure of detailed information about hedges [line items] | ||||||
Average rate of hedging instrument | 10.67% | 10.67% | 10.67% | 10.67% | 10.67% | |
EUR/MAD | More than one year | ||||||
Disclosure of detailed information about hedges [line items] | ||||||
Average rate of hedging instrument | 10.99% | 10.99% | 10.99% | 10.99% | 10.99% | |
EUR/CZK | ||||||
Disclosure of detailed information about hedges [line items] | ||||||
Notional amount | € | € 17,704 | |||||
EUR/CZK | Less than one year | ||||||
Disclosure of detailed information about hedges [line items] | ||||||
Average rate of hedging instrument | 26.63% | 26.63% | 26.63% | 26.63% | 26.63% | |
EUR/CZK | More than one year | ||||||
Disclosure of detailed information about hedges [line items] | ||||||
Average rate of hedging instrument | 26.81% | 26.81% | 26.81% | 26.81% | 26.81% | |
EUR/SEK | ||||||
Disclosure of detailed information about hedges [line items] | ||||||
Notional amount | € | € 19,185 | |||||
EUR/SEK | Less than one year | ||||||
Disclosure of detailed information about hedges [line items] | ||||||
Average rate of hedging instrument | 10.66% | 10.66% | 10.66% | 10.66% | 10.66% | |
EUR/SEK | More than one year | ||||||
Disclosure of detailed information about hedges [line items] | ||||||
Average rate of hedging instrument | 10.75% | 10.75% | 10.75% | 10.75% | 10.75% | |
Others | ||||||
Disclosure of detailed information about hedges [line items] | ||||||
Notional amount | $ 60,293 | |||||
At fair value | ||||||
Disclosure of detailed information about hedges [line items] | ||||||
Hedging instrument, assets | 19,375 | $ 18,308 | ||||
At fair value | USD/INR | ||||||
Disclosure of detailed information about hedges [line items] | ||||||
Hedging instrument, assets | 4,002 | 2,473 | ||||
At fair value | CAD/INR | ||||||
Disclosure of detailed information about hedges [line items] | ||||||
Hedging instrument, assets | 882 | 6,196 | ||||
At fair value | EUR/INR | ||||||
Disclosure of detailed information about hedges [line items] | ||||||
Hedging instrument, assets | 6,650 | 4,731 | ||||
At fair value | GBP/INR | ||||||
Disclosure of detailed information about hedges [line items] | ||||||
Hedging instrument, assets | 2,390 | 4,522 | ||||
At fair value | SEK/INR | ||||||
Disclosure of detailed information about hedges [line items] | ||||||
Hedging instrument, assets | 477 | |||||
Hedged item, liabilities | 10 | |||||
At fair value | EUR/GBP | ||||||
Disclosure of detailed information about hedges [line items] | ||||||
Hedging instrument, assets | 1,033 | |||||
Hedged item, liabilities | 1,210 | |||||
At fair value | EUR/MAD | ||||||
Disclosure of detailed information about hedges [line items] | ||||||
Hedging instrument, assets | 2,064 | 2,534 | ||||
At fair value | EUR/CZK | ||||||
Disclosure of detailed information about hedges [line items] | ||||||
Hedging instrument, assets | 758 | |||||
Hedged item, liabilities | 1,039 | |||||
At fair value | EUR/SEK | ||||||
Disclosure of detailed information about hedges [line items] | ||||||
Hedging instrument, assets | 1,396 | 120 | ||||
At fair value | Others | ||||||
Disclosure of detailed information about hedges [line items] | ||||||
Hedging instrument, assets | $ 210 | |||||
Hedged item, liabilities | $ 496 |
Financial instruments - Sensiti
Financial instruments - Sensitivity analysis (Details) - Currency risk - CAD ($) $ in Thousands | 12 Months Ended | |
Sep. 30, 2021 | Sep. 30, 2020 | |
Swedish krona impact | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Increase in net earnings | $ 171 | $ 317 |
Decrease in other comprehensive (loss) income | (8,287) | (11,047) |
U.S. dollar impact | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Increase in net earnings | 1,416 | 1,215 |
Decrease in other comprehensive (loss) income | (187,587) | (233,182) |
euro impact | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Increase in net earnings | 1,294 | 190 |
Decrease in other comprehensive (loss) income | (83,334) | (116,136) |
British pound impact | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Increase in net earnings | 1,227 | 931 |
Decrease in other comprehensive (loss) income | $ (25,622) | $ (29,080) |
Financial instruments - Maturit
Financial instruments - Maturity analysis for financial liabilities (Details) - CAD ($) $ in Thousands | Sep. 30, 2021 | Sep. 30, 2020 |
Disclosure Of Maturity Analysis For Derivative And Non-Derivative Financial Liabilities [Line Items] | ||
Accounts payable and accrued liabilities | $ 891,374 | $ 814,119 |
Accrued compensation and employee-related liabilities | 1,084,014 | 884,619 |
Borrowings | 3,401,656 | 3,587,095 |
Clients’ funds obligations | 591,101 | 720,322 |
Financial liabilities | 6,793,366 | 6,947,475 |
Accounts payable and accrued liabilities, contractual cash flows | 891,374 | 814,119 |
Accrued compensation and employee related liabilities, contractual cash flows | 1,084,014 | 884,619 |
Clients' funds obligations, contractual cash flows | 591,101 | 720,322 |
Financial liabilities, contractual cash flows | 7,241,384 | 7,224,958 |
Senior U.S. unsecured notes | ||
Disclosure Of Maturity Analysis For Derivative And Non-Derivative Financial Liabilities [Line Items] | ||
Borrowings | 888,307 | 1,211,965 |
Borrowings, contractual cash flows | 955,768 | 1,325,791 |
2021 U.S. Senior Notes | ||
Disclosure Of Maturity Analysis For Derivative And Non-Derivative Financial Liabilities [Line Items] | ||
Borrowings | 1,253,226 | |
Borrowings, contractual cash flows | 1,439,360 | |
2021 CAD Senior Notes | ||
Disclosure Of Maturity Analysis For Derivative And Non-Derivative Financial Liabilities [Line Items] | ||
Borrowings | 595,331 | |
Borrowings, contractual cash flows | 688,269 | |
Unsecured committed term loan credit facility | ||
Disclosure Of Maturity Analysis For Derivative And Non-Derivative Financial Liabilities [Line Items] | ||
Borrowings | 633,623 | 2,330,288 |
Borrowings, contractual cash flows | 649,498 | 2,400,927 |
Lease liabilities | ||
Disclosure Of Maturity Analysis For Derivative And Non-Derivative Financial Liabilities [Line Items] | ||
Lease liabilities | 776,940 | 876,370 |
Lease liabilities, undiscounted cash flows | 877,498 | 1,002,493 |
Other long-term debt | ||
Disclosure Of Maturity Analysis For Derivative And Non-Derivative Financial Liabilities [Line Items] | ||
Borrowings | 31,169 | 44,842 |
Borrowings, contractual cash flows | 32,071 | 45,221 |
Cash flow hedges of future revenue | ||
Disclosure Of Maturity Analysis For Derivative And Non-Derivative Financial Liabilities [Line Items] | ||
Derivative financial liabilities | 2,601 | 6,694 |
Derivative financial liabilities, contractual cash flows | 163,162 | 290,661 |
Derivative financial assets, contractual cash flows | (171,282) | (299,279) |
Cross-currency swaps | ||
Disclosure Of Maturity Analysis For Derivative And Non-Derivative Financial Liabilities [Line Items] | ||
Derivative financial liabilities | 45,680 | 57,595 |
Derivative financial liabilities, contractual cash flows | 1,128,791 | 1,272,197 |
Derivative financial assets, contractual cash flows | (1,088,240) | (1,232,774) |
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 | 891,374 | 814,119 |
Accrued compensation and employee related liabilities, contractual cash flows | 1,084,014 | 884,619 |
Clients' funds obligations, contractual cash flows | 591,101 | 720,322 |
Financial liabilities, contractual cash flows | 3,230,686 | 3,027,517 |
Less than one year | Senior U.S. unsecured notes | ||
Disclosure Of Maturity Analysis For Derivative And Non-Derivative Financial Liabilities [Line Items] | ||
Borrowings, contractual cash flows | 410,738 | 321,089 |
Less than one year | 2021 U.S. Senior Notes | ||
Disclosure Of Maturity Analysis For Derivative And Non-Derivative Financial Liabilities [Line Items] | ||
Borrowings, contractual cash flows | 22,690 | |
Less than one year | 2021 CAD Senior Notes | ||
Disclosure Of Maturity Analysis For Derivative And Non-Derivative Financial Liabilities [Line Items] | ||
Borrowings, contractual cash flows | 12,669 | |
Less than one year | Unsecured committed term loan credit facility | ||
Disclosure Of Maturity Analysis For Derivative And Non-Derivative Financial Liabilities [Line Items] | ||
Borrowings, contractual cash flows | 7,043 | 35,869 |
Less than one year | Lease liabilities | ||
Disclosure Of Maturity Analysis For Derivative And Non-Derivative Financial Liabilities [Line Items] | ||
Lease liabilities, undiscounted cash flows | 192,750 | 207,617 |
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 | 13,133 | 38,240 |
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 | 55,039 | 108,478 |
Derivative financial assets, contractual cash flows | (55,756) | (107,621) |
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 | 91,667 | 315,839 |
Derivative financial assets, contractual cash flows | (85,776) | (311,715) |
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 and employee related liabilities, contractual cash flows | 0 | 0 |
Clients' funds obligations, contractual cash flows | 0 | 0 |
Financial liabilities, contractual cash flows | 1,623,134 | 2,546,666 |
Between one and three years | Senior U.S. unsecured notes | ||
Disclosure Of Maturity Analysis For Derivative And Non-Derivative Financial Liabilities [Line Items] | ||
Borrowings, contractual cash flows | 545,030 | 519,605 |
Between one and three years | 2021 U.S. Senior Notes | ||
Disclosure Of Maturity Analysis For Derivative And Non-Derivative Financial Liabilities [Line Items] | ||
Borrowings, contractual cash flows | 45,380 | |
Between one and three years | 2021 CAD Senior Notes | ||
Disclosure Of Maturity Analysis For Derivative And Non-Derivative Financial Liabilities [Line Items] | ||
Borrowings, contractual cash flows | 25,200 | |
Between one and three years | Unsecured committed term loan credit facility | ||
Disclosure Of Maturity Analysis For Derivative And Non-Derivative Financial Liabilities [Line Items] | ||
Borrowings, contractual cash flows | 642,455 | 1,696,940 |
Between one and three years | Lease liabilities | ||
Disclosure Of Maturity Analysis For Derivative And Non-Derivative Financial Liabilities [Line Items] | ||
Lease liabilities, undiscounted cash flows | 318,993 | 325,964 |
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 | 18,337 | 5,387 |
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 | 103,373 | 163,183 |
Derivative financial assets, contractual cash flows | (110,294) | (169,846) |
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 | 1,037,124 | 168,458 |
Derivative financial assets, contractual cash flows | (1,002,464) | (163,025) |
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 and employee related liabilities, contractual cash flows | 0 | 0 |
Clients' funds obligations, contractual cash flows | 0 | 0 |
Financial liabilities, contractual cash flows | 1,011,846 | 1,411,727 |
Between three and five years | Senior U.S. unsecured notes | ||
Disclosure Of Maturity Analysis For Derivative And Non-Derivative Financial Liabilities [Line Items] | ||
Borrowings, contractual cash flows | 0 | 485,097 |
Between three and five years | 2021 U.S. Senior Notes | ||
Disclosure Of Maturity Analysis For Derivative And Non-Derivative Financial Liabilities [Line Items] | ||
Borrowings, contractual cash flows | 805,940 | |
Between three and five years | 2021 CAD Senior Notes | ||
Disclosure Of Maturity Analysis For Derivative And Non-Derivative Financial Liabilities [Line Items] | ||
Borrowings, contractual cash flows | 25,200 | |
Between three and five years | Unsecured committed term loan credit facility | ||
Disclosure Of Maturity Analysis For Derivative And Non-Derivative Financial Liabilities [Line Items] | ||
Borrowings, contractual cash flows | 0 | 668,118 |
Between three and five years | Lease liabilities | ||
Disclosure Of Maturity Analysis For Derivative And Non-Derivative Financial Liabilities [Line Items] | ||
Lease liabilities, undiscounted cash flows | 180,593 | 229,871 |
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 | 595 | 1,587 |
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 | 4,750 | 19,000 |
Derivative financial assets, contractual cash flows | (5,232) | (21,812) |
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 | 0 | 787,900 |
Derivative financial assets, contractual cash flows | 0 | (758,034) |
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 and employee related liabilities, contractual cash flows | 0 | 0 |
Clients' funds obligations, contractual cash flows | 0 | 0 |
Financial liabilities, contractual cash flows | 1,375,718 | 239,048 |
Beyond five years | Senior U.S. unsecured notes | ||
Disclosure Of Maturity Analysis For Derivative And Non-Derivative Financial Liabilities [Line Items] | ||
Borrowings, contractual cash flows | 0 | 0 |
Beyond five years | 2021 U.S. Senior Notes | ||
Disclosure Of Maturity Analysis For Derivative And Non-Derivative Financial Liabilities [Line Items] | ||
Borrowings, contractual cash flows | 565,350 | |
Beyond five years | 2021 CAD Senior Notes | ||
Disclosure Of Maturity Analysis For Derivative And Non-Derivative Financial Liabilities [Line Items] | ||
Borrowings, contractual cash flows | 625,200 | |
Beyond five years | Unsecured committed term loan credit facility | ||
Disclosure Of Maturity Analysis For Derivative And Non-Derivative Financial Liabilities [Line Items] | ||
Borrowings, contractual cash flows | 0 | 0 |
Beyond five years | Lease liabilities | ||
Disclosure Of Maturity Analysis For Derivative And Non-Derivative Financial Liabilities [Line Items] | ||
Lease liabilities, undiscounted cash flows | 185,162 | 239,041 |
Beyond five years | Other long-term debt | ||
Disclosure Of Maturity Analysis For Derivative And Non-Derivative Financial Liabilities [Line Items] | ||
Borrowings, contractual cash flows | 6 | 7 |
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 - Disclos
Financial instruments - Disclosure of analysis of age of trade accounts receivable (Details) - Trade accounts receivable - CAD ($) $ in Thousands | Sep. 30, 2021 | Sep. 30, 2020 |
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | $ 938,417 | $ 904,887 |
Cost | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 942,145 | 910,154 |
Cost | Not past due | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 818,520 | 775,975 |
Cost | Past due 1-30 days | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 47,702 | 44,278 |
Cost | Past due 31-60 days | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 21,582 | 29,948 |
Cost | Past due 61-90 days | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 7,402 | 6,407 |
Cost | Past due more than 90 days | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 46,939 | 53,546 |
Allowance for doubtful accounts | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | $ (3,728) | $ (5,267) |
Capital risk management (Detail
Capital risk management (Details) - CAD ($) $ in Thousands | Sep. 30, 2021 | Sep. 30, 2020 |
Capital Risk Management [Abstract] | ||
Total managed capital | $ 12,884,415 | $ 13,459,695 |