Cover Page
Cover Page | 12 Months Ended |
Sep. 30, 2022 shares | |
Entity Information [Line Items] | |
Document Type | 40-F |
Document Registration Statement | false |
Document Annual Report | true |
Document Period End Date | Sep. 30, 2022 |
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 |
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 | 2022 |
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 | 211,302,549 |
Class B multiple voting shares | |
Entity Information [Line Items] | |
Entity Common Stock, Shares Outstanding | 26,445,706 |
Audit Information
Audit Information | 12 Months Ended |
Sep. 30, 2022 | |
Auditor Information [Abstract] | |
Auditor Name | PricewaterhouseCoopers LLP |
Auditor Firm ID | 271 |
Auditor Location | Montréal, Canada |
Consolidated Statements of Earn
Consolidated Statements of Earnings - CAD ($) $ in Thousands | 12 Months Ended | |
Sep. 30, 2022 | Sep. 30, 2021 | |
Profit or loss [abstract] | ||
Revenue | $ 12,867,201 | $ 12,126,793 |
Operating expenses | ||
Costs of services, selling and administrative | 10,776,564 | 10,178,164 |
Acquisition-related and integration costs | 27,654 | 7,371 |
Net finance costs | 92,023 | 106,798 |
Foreign exchange loss (gain) | 4,001 | (3,532) |
Operating expenses | 10,900,242 | 10,288,801 |
Earnings before income taxes | 1,966,959 | 1,837,992 |
Income tax expense | 500,817 | 468,920 |
Net earnings | $ 1,466,142 | $ 1,369,072 |
Earnings per share | ||
Basic earnings per share (CAD per share) | $ 6.13 | $ 5.50 |
Diluted earnings per share (CAD per share) | $ 6.04 | $ 5.41 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income - CAD ($) $ in Thousands | 12 Months Ended | |
Sep. 30, 2022 | Sep. 30, 2021 | |
Statement of comprehensive income [abstract] | ||
Net earnings | $ 1,466,142 | $ 1,369,072 |
Items that will be reclassified subsequently to net earnings (net of income taxes): | ||
Net unrealized losses on translating financial statements of foreign operations | (319,698) | (391,574) |
Net (losses) gains on cross-currency swaps and on translating long-term debt designated as hedges of net investments in foreign operations | (4,541) | 150,313 |
Deferred gains (costs) of hedging on cross-currency swaps | 21,705 | (7,484) |
Net unrealized gains on cash flow hedges | 25,245 | 10,964 |
Net unrealized losses on financial assets at fair value through other comprehensive income | (6,263) | (2,149) |
Items that will not be reclassified subsequently to net earnings (net of income taxes): | ||
Net remeasurement (losses) gains on defined benefit plans | (8,282) | 25,800 |
Other comprehensive loss | (291,834) | (214,130) |
Comprehensive income (loss) | $ 1,174,308 | $ 1,154,942 |
Consolidated Balance Sheets
Consolidated Balance Sheets - CAD ($) $ in Thousands | Sep. 30, 2022 | Sep. 30, 2021 |
Current assets | ||
Cash and cash equivalents | $ 966,458 | $ 1,699,206 |
Accounts receivable | 1,363,545 | 1,231,452 |
Work in progress | 1,191,844 | 1,045,058 |
Current financial assets | 33,858 | 18,961 |
Prepaid expenses and other current assets | 189,366 | 172,371 |
Income taxes | 5,137 | 4,936 |
Total current assets before funds held for clients | 3,750,208 | 4,171,984 |
Funds held for clients | 598,839 | 593,154 |
Total current assets | 4,349,047 | 4,765,138 |
Property, plant and equipment | 369,608 | 352,092 |
Right-of-use assets | 535,121 | 586,207 |
Contract costs | 261,612 | 230,562 |
Intangible assets | 615,959 | 506,793 |
Other long-term assets | 139,666 | 191,512 |
Long-term financial assets | 337,156 | 152,658 |
Deferred tax assets | 85,795 | 96,358 |
Goodwill | 8,481,456 | 8,139,701 |
Assets | 15,175,420 | 15,021,021 |
Current liabilities | ||
Accounts payable and accrued liabilities | 1,016,407 | 891,374 |
Accrued compensation and employee-related liabilities | 1,130,726 | 1,084,014 |
Deferred revenue | 453,579 | 445,740 |
Income taxes | 153,984 | 160,651 |
Current portion of long-term debt | 93,447 | 392,727 |
Current portion of lease liabilities | 157,944 | 167,819 |
Provisions | 33,103 | 63,549 |
Current derivative financial instruments | 5,710 | 6,497 |
Total current liabilities before clients’ funds obligations | 3,044,900 | 3,212,371 |
Clients’ funds obligations | 604,431 | 591,101 |
Total current liabilities | 3,649,331 | 3,803,472 |
Long-term debt | 3,173,587 | 3,008,929 |
Long-term lease liabilities | 551,257 | 609,121 |
Long-term provisions | 17,482 | 26,576 |
Other long-term liabilities | 192,108 | 202,662 |
Long-term derivative financial instruments | 6,480 | 41,784 |
Long-term income taxes | 0 | 5,719 |
Deferred tax liabilities | 157,406 | 132,038 |
Retirement benefits obligations | 155,045 | 204,488 |
Liabilities | 7,902,696 | 8,034,789 |
Equity | ||
Retained earnings | 5,425,005 | 4,732,229 |
Accumulated other comprehensive income | 39,746 | 331,580 |
Capital stock | 1,493,169 | 1,632,705 |
Contributed surplus | 314,804 | 289,718 |
Equity | 7,272,724 | 6,986,232 |
Liabilities and Equity | $ 15,175,420 | $ 15,021,021 |
Consolidated Statements of Chan
Consolidated Statements of Changes in Equity - CAD ($) $ in Thousands | Total | Retained earnings | Accumulated other comprehensive income | Capital stock | Contributed surplus |
Equity at beginning of period 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 | (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) | |||
Equity at end of period at Sep. 30, 2021 | 6,986,232 | 4,732,229 | 331,580 | 1,632,705 | 289,718 |
Net earnings | 1,466,142 | 1,466,142 | |||
Other comprehensive loss | (291,834) | (291,834) | |||
Comprehensive income (loss) | 1,174,308 | 1,466,142 | (291,834) | ||
Share-based payment costs | 48,996 | 48,996 | |||
Income tax impact associated with stock options | 460 | 460 | |||
Exercise of stock options | 41,687 | 50,236 | (8,549) | ||
Exercise of performance share units | 0 | 15,821 | (15,821) | ||
Purchase for cancellation of Class A subordinate voting shares | (908,656) | (773,366) | (135,290) | ||
Purchase of Class A subordinate voting shares held in trusts | (70,303) | (70,303) | |||
Equity at end of period at Sep. 30, 2022 | $ 7,272,724 | $ 5,425,005 | $ 39,746 | $ 1,493,169 | $ 314,804 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - CAD ($) $ in Thousands | 12 Months Ended | |
Sep. 30, 2022 | Sep. 30, 2021 | |
Operating activities | ||
Net earnings | $ 1,466,142 | $ 1,369,072 |
Adjustments for: | ||
Amortization, depreciation and impairment | 474,622 | 510,570 |
Deferred income tax recovery | (7,496) | (25,934) |
Foreign exchange (gain) loss | (254) | 3,950 |
Share-based payment costs | 48,996 | 45,592 |
Gain on lease terminations and sale of property, plant and equipment | (6,119) | (2,186) |
Net change in non-cash working capital items | (110,893) | 214,864 |
Cash provided by operating activities | 1,864,998 | 2,115,928 |
Investing activities | ||
Net change in short-term investments | (4,881) | 446 |
Business acquisitions (considering bank overdraft assumed and cash acquired) | (571,911) | (98,926) |
Purchase of property, plant and equipment | (156,136) | (121,806) |
Proceeds from sale of property, plant and equipment | 3,790 | 0 |
Additions to contract costs | (84,283) | (65,001) |
Additions to intangible assets | (137,621) | (113,934) |
Purchase of long-term investments | (11,905) | (43,465) |
Proceeds from sale of long-term investments | 51,000 | 54,179 |
Cash used in investing activities | (911,947) | (388,507) |
Financing activities | ||
Increase of long-term debt | 0 | 1,885,262 |
Repayment of long-term debt | (401,654) | (1,888,777) |
Payment of lease liabilities | (153,996) | (169,674) |
Repayment of debt assumed in business acquisitions | (113,036) | 0 |
Settlement of derivative financial instruments | 6,258 | (6,992) |
Purchase of Class A subordinate voting shares held in trusts | (70,303) | (31,404) |
Purchase and cancellation of Class A subordinate voting shares | (913,388) | (1,502,824) |
Issuance of Class A subordinate voting shares | 41,691 | 61,133 |
Net change in client funds obligations | 13,330 | (129,221) |
Cash used in financing activities | (1,591,098) | (1,782,497) |
Effect of foreign exchange rate changes on cash and cash equivalents | (46,500) | (73,884) |
Net decrease in cash, cash equivalents and cash included in funds held for clients | (684,547) | (128,960) |
Cash, cash equivalents and cash included in funds held for clients, beginning of year | 2,155,731 | 2,284,691 |
Cash, cash equivalents and cash included in funds held for clients, end of year | 1,471,184 | 2,155,731 |
Cash composition: | ||
Cash and cash equivalents | 966,458 | 1,699,206 |
Cash included in funds held for clients | $ 504,726 | $ 456,525 |
Description of business
Description of business | 12 Months Ended |
Sep. 30, 2022 | |
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 and strategic IT consulting and systems integration services, 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, 2022 | |
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, 2022 and 2021 were authorized for issue by the Board of Directors on November 8, 2022. |
Summary of significant accounti
Summary of significant accounting policies | 12 Months Ended |
Sep. 30, 2022 | |
Disclosure Of Significant Accounting Policies [Abstract] | |
Summary of significant accounting policies | Summary of significant accounting policies CHANGE IN ACCOUNTING POLICY- IAS 7 STATEMENT OF CASH FLOWS In 2022, the IFRS Interpretations Committee finalized its agenda decision that restrictions on the use of demand deposits arising from a contract with a third party do not result in those deposits no longer being cash and cash equivalents when they are available to an entity on demand. Therefore, they should be included in cash and cash equivalents in the statements of cash flows, with disclosure provided on significant cash and cash equivalents balances with restrictions on use. The Company has retrospectively applied this guidance and included the cash component of funds held for clients as part of cash, cash equivalents and cash included in funds held for clients in its consolidated Statements of Cash Flows, with the 2021 comparative figures adjusted consequently. The Company determined that as it had access to these funds on demand, despite being held solely for the purpose of satisfying the clients’ funds obligations. The cash balance under funds held for clients represents $504,726,000 at September 30, 2022 ($456,525,000 at September 30, 2021). The net changes in the client funds obligations are presented within financing activities, while the purchase and proceeds from the sale of long-term investments are presented within investing activities. This retrospective change in accounting policy does not impact the consolidated balance sheets, statement of earnings, comprehensive income, or changes in equity. 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. 3. Summary of significant accounting policies (continued) USE OF JUDGEMENTS AND ESTIMATES The preparation of the consolidated financial statements requires management to make judgements and estimates that affect the reported amounts of assets, liabilities, equity and the accompanying disclosures at the date of the consolidated financial statements and the reported amounts of revenue and expenses during the reporting period. Because the use of judgements and estimates is inherent in the financial reporting process, actual results could differ. Significant judgements and estimates about the future and other major sources of estimation uncertainty at the end of the reporting period could have a significant risk of causing a material adjustment to the carrying amounts of the following within the next financial year: revenue recognition, deferred tax assets, estimated losses on revenue-generating contracts, goodwill impairment, right-of-use assets, business combinations, provisions for uncertain tax treatments and litigation and claims. The judgements, apart from those involving estimations, that have the most significant effect on the amounts recognized in the consolidated financial statements are: Revenue recognition of multiple deliverable arrangements Assessing whether the deliverables within an arrangement are separate performance obligations requires judgement by management. A deliverable is identified as a separate performance obligation if the customer benefits from it on its own or together with resources that are readily available to the customer and if it is separately identifiable from the other deliverables in the contract. The Company assesses if the deliverables are separately identifiable in the context of the contract by determining if it is highly interrelated with other deliverables in the contract. If these criteria are not met, the deliverables are accounted for as a combined performance obligation. 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 relies on 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, 2022, 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. In line with the phase down of the pandemic, 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 and strategic IT consulting and systems integration services, 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 performance obligations, the Company recognizes the remaining consideration prospectively. 3. Summary of significant accounting policies (continued) REVENUE RECOGNITION, WORK IN PROGRESS AND DEFERRED REVENUE (CONTINUED) Revenue is recognized when or as the Company satisfies a performance obligation by transferring a promise of good or service to the customer and are measured at the amount of consideration the Company expects to be entitled to receive, including variable consideration, such as, discounts, volume rebates, service-level penalties, and incentives. Variable consideration is estimated using either the expected value method or most likely amount method and is included only to the extent it is highly probable that a significant reversal of cumulative revenue recognized will not occur. In making this judgement, management will mostly consider all information available at the time (historical, current and forecasted), the Company’s knowledge of the client or the industry, the type of services to be delivered and the specific contractual terms of each arrangement. Revenue from sales of third party vendor's products, such as software licenses, hardware or services is recorded on a gross basis when the Company is a principal to the transaction and is recorded net of costs when the Company is acting as an agent between the client and vendor. To determine whether the Company is a principal or an agent, it evaluates whether control is obtained of the goods or services before they are transferred to the client. This is often demonstrated when the Company provides significant integration of the goods and services from a third party vendor into the Company's goods and services delivered to the client. Other factors considered include whether the Company has the primary responsibility for providing the product or service, has inventory risk before the specified good or service has been transferred to a client, or after transfer of control to a client, 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 and strategic IT consulting and systems integration services Revenue from business and strategic IT consulting and systems integration services under time and material arrangements is recognized over time as the services are rendered, and revenue under cost-based arrangements is recognized over time as reimbursable costs are incurred. Contractual billings of such arrangements correspond with the value provided to the client, and therefore revenues are generally recognized when amounts become billable. Revenue from business and strategic IT consulting and systems integration services under fixed-fee arrangements is recognized using the percentage-of-completion method over time, as the Company has no alternative use for the asset created and has an enforceable right to payment for performance completed to date. The Company primarily uses labour costs to measure the progress towards completion. This method relies on estimates of total expected labour costs, which are compared to labour costs incurred to date, to arrive at an estimate of the progress to completion which determines 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. 3. Summary of significant accounting policies (continued) REVENUE RECOGNITION, WORK IN PROGRESS AND DEFERRED REVENUE (CONTINUED) 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 and strategic IT consulting and systems integration services section above. Revenue from maintenance services for software licenses sold is recognized straight-line over the term of the maintenance period. Work in progress and deferred revenue Amounts recognized as revenue in excess of billings are classified as work in progress. Amounts received in advance of the performance of services or delivery of products are classified as deferred revenue. Work in progress and deferred revenue are presented net on a contract by-contract basis. During the year ended September 30, 2022, the revenues recognized from the short-term deferred revenue was not significantly different than what was presented as at September 30, 2021. 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 3. Summary of significant accounting policies (continued) LEASES 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. 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 at the lease date. 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 or a change in the assessment of an option to purchase or terminate the lease, for – a modification in the residual guarantees or in future lease payments due to a change of an index or rate tied to the payments, for which the lease liability is remeasured by discounting the revised lease payments using the initial discount rate determined when setting up the liability. 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. 3. Summary of significant accounting policies (continued) 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 consisting of employee compensation and related fringe benefits. Labour costs also include 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. When a contract is not expected to be profitable, the estimated loss is first applied to impair the related capitalized contract costs. The excess of the expected loss over the capitalized contract costs is recorded as onerous revenue-generating contracts in provisions. If at a future date the contract returns to profitability, the previously recognized impairment loss must be reversed. First the estimated losses on revenue-generating contracts must be reversed, and if there is still additional projected profitability then any capitalized contract costs that were impaired must be reversed. The reversal of the impairment loss is limited so that the carrying amount does not exceed its recoverable amount, nor exceed the carrying amount that would have been determined, net of amortization, had no impairment loss been recognized for the contract costs in prior years. INTANGIBLE ASSETS Intangible assets consist 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 3 to 10 years Software licenses 3 to 8 years Client relationships 5 to 7 years 3. Summary of significant accounting policies (continued) 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. 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. 3. Summary of significant accounting policies (continued) 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 judgements and estimates 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 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 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. 3. Summary of significant accounting policies (continued) INCOME TAXES (CONTINUED) 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 mater |
Accounts receivable
Accounts receivable | 12 Months Ended |
Sep. 30, 2022 | |
Subclassifications of assets, liabilities and equities [abstract] | |
Accounts receivable | 4. Accounts receivable As at As at $ $ Trade (Note 31) 1,106,187 938,417 R&D and other tax credits 1 163,608 187,347 Other 93,750 105,688 1,363,545 1,231,452 1 |
Funds held for clients
Funds held for clients | 12 Months Ended |
Sep. 30, 2022 | |
Subclassifications of assets, liabilities and equities [abstract] | |
Funds held for clients | Funds held for clients As at As at $ $ Cash (Note 31) 504,726 456,525 Long-term bonds (Note 31) 94,113 136,629 598,839 593,154 |
Property, plant and equipment
Property, plant and equipment | 12 Months Ended |
Sep. 30, 2022 | |
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, 2021 78,907 244,824 150,617 592,892 1,067,240 Additions 5,202 24,040 9,344 117,196 155,782 Additions - business acquisitions (Note 26a) — 4,776 984 2,404 8,164 Disposals/retirements (4,116) (6,997) (6,466) (88,261) (105,840) Foreign currency translation adjustment (2,622) (3,671) (2,396) (25,506) (34,195) As at September 30, 2022 77,371 262,972 152,083 598,725 1,091,151 Accumulated depreciation As at September 30, 2021 21,961 156,012 97,693 439,482 715,148 Depreciation expense (Note 24) 2,888 24,127 11,815 94,821 133,651 Impairment (Note 24) — 858 — — 858 Disposals/retirements (893) (6,958) (6,424) (88,261) (102,536) Foreign currency translation adjustment (489) (3,392) (1,782) (19,915) (25,578) As at September 30, 2022 23,467 170,647 101,302 426,127 721,543 Net carrying amount as at September 30, 2022 53,904 92,325 50,781 172,598 369,608 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 26b) — 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 |
Right-of-use assets
Right-of-use assets | 12 Months Ended |
Sep. 30, 2022 | |
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, 2021 1,080,867 174,354 39,093 1,294,314 Additions 90,830 25,554 3,683 120,067 Additions - business acquisitions (Note 26a) 21,622 492 — 22,114 Change in estimates and lease modifications (7,946) — — (7,946) Disposals/retirements (88,546) (11,704) — (100,250) Foreign currency translation adjustment (47,382) (8,532) (2,087) (58,001) As at September 30, 2022 1,049,445 180,164 40,689 1,270,298 Accumulated depreciation As at September 30, 2021 606,558 67,975 33,574 708,107 Depreciation expense (Note 24) 103,489 33,260 4,546 141,295 Impairment (Note 24) 3,858 — — 3,858 Disposals/retirements (74,973) (7,749) — (82,722) Foreign currency translation adjustment (28,925) (4,563) (1,873) (35,361) As at September 30, 2022 610,007 88,923 36,247 735,177 Net carrying amount as at September 30, 2022 439,438 91,241 4,442 535,121 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 26b) 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 |
Contract costs
Contract costs | 12 Months Ended |
Sep. 30, 2022 | |
Revenue From Contracts With Customers [Abstract] | |
Contract costs | Contract costs As at September 30, 2022 As at September 30, 2021 Cost Accumulated amortization and impairment Net carrying amount Cost Accumulated amortization and impairment Net carrying amount $ $ $ $ $ $ Transition costs 481,836 225,468 256,368 487,106 262,311 224,795 Incentives 50,331 45,087 5,244 52,200 46,433 5,767 532,167 270,555 261,612 539,306 308,744 230,562 |
Intangible assets
Intangible assets | 12 Months Ended |
Sep. 30, 2022 | |
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, 2021 79,210 98,891 78,641 624,850 167,374 1,154,620 2,203,586 Additions 1,385 10,111 1,160 103,309 22,015 — 137,980 Additions - business acquisitions (Note 26a) 3,176 — 1,630 — 303 105,538 110,647 Disposals/retirements (6,399) (2,647) (2,007) (28,932) (23,020) — (63,005) Foreign currency translation adjustment (1,410) (1,869) (844) 34,794 (3,694) (28,765) (1,788) As at September 30, 2022 75,962 104,486 78,580 734,021 162,978 1,231,393 2,387,420 Accumulated amortization and As at September 30, 2021 72,303 53,834 72,731 365,597 124,201 1,008,127 1,696,793 Amortization expense (Note 24) 4,948 14,711 3,201 48,211 21,655 47,214 139,940 Impairment (Note 24) — 519 — 2,840 — — 3,359 Disposals/retirements (6,399) (2,647) (2,007) (28,932) (23,020) — (63,005) Foreign currency translation adjustment (1,230) (1,094) (831) 20,582 (2,819) (20,234) (5,626) As at September 30, 2022 69,622 65,323 73,094 408,298 120,017 1,035,107 1,771,461 Net carrying amount as at September 30, 6,340 39,163 5,486 325,723 42,961 196,286 615,959 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 26b) — — 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 and 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 |
Other long-term assets
Other long-term assets | 12 Months Ended |
Sep. 30, 2022 | |
Subclassifications of assets, liabilities and equities [abstract] | |
Other long-term assets | Other long-term assets As at As at $ $ Prepaid long-term maintenance agreements 28,720 32,019 Insurance contracts held to fund defined benefit pension and life assurance arrangements - reimbursement rights (Note 17) 18,877 21,250 Retirement benefits assets (Note 17) 47,071 106,228 Deposits 22,595 15,641 Deferred financing fees 2,827 2,533 Other 19,576 13,841 139,666 191,512 |
Long-term financial assets
Long-term financial assets | 12 Months Ended |
Sep. 30, 2022 | |
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) 71,863 81,633 Long-term investments (Note 31) 16,826 19,354 Long-term receivables 10,590 18,093 Long-term derivative financial instruments (Note 31) 237,877 33,578 337,156 152,658 |
Goodwill
Goodwill | 12 Months Ended |
Sep. 30, 2022 | |
Intangible assets and goodwill [abstract] | |
Goodwill | Goodwill Effective April 1, 2022, the Company realigned its management structure, resulting in a reorganization and the creation of two new operating segments, namely Scandinavia and Central Europe (Germany, Sweden and Norway) and Northwest and Central-East Europe (primarily Netherlands, Denmark and Czech Republic), collectively formerly known as Scandinavia and Central and Eastern Europe in the prior fiscal year, and, less significantly, the transfer of our Belgium operations from Western and Southern Europe operating segment to the Northwest and Central-East Europe operating segment. As a result, the Company is managed through the following nine operating segments: Western and Southern Europe (primarily France, Spain and Portugal); United States (U.S.) Commercial and State Government; Canada; U.S. Federal; Scandinavia and Central Europe; United Kingdom (U.K.) and Australia; Finland, Poland and Baltics; Northwest and Central-East Europe; and Asia Pacific Global Delivery Centers of Excellence (mainly India and Philippines) (Asia Pacific). Western and Southern Europe U.S. Commercial and State Government Canada U.S. Federal Scandinavia and Central Europe U.K. and Australia Finland, Poland and Baltics Northwest and Central-East Europe Asia Pacific Total $ $ $ $ $ $ $ $ $ $ As at September 30, 2021 1,022,350 1,169,772 1,142,148 947,782 1,140,573 895,921 619,990 931,361 269,804 8,139,701 Business acquisitions (Note 26) 516,204 9,970 — 73,375 — 31,299 — — — 630,848 Goodwill reallocation (3,236) — — — 367,907 — — (364,671) — — Foreign currency translation adjustment (95,299) 98,434 — 87,110 (163,134) (92,260) (52,362) (65,383) (6,199) (289,093) As at September 30, 2022 1,440,019 1,278,176 1,142,148 1,108,267 1,345,346 834,960 567,628 501,307 263,605 8,481,456 Key assumptions in goodwill impairment testing The key assumptions for the CGUs are disclosed in the following tables for the years ended September 30: 2022 Western and Southern Europe U.S. Commercial and State Government Canada U.S. Federal Scandinavia and Central Europe U.K. and Australia Finland, Poland and Baltics Northwest and Central-East Europe Asia Pacific % % % % % % % % % Pre-tax WACC 10.0 10.6 10.7 9.2 10.5 10.6 10.7 10.7 19.2 Long-term growth rate of net operating cash flows 1 1.8 2.0 2.0 2.0 2.0 1.9 2.0 1.9 2.0 2021 Western and Southern Europe U.S. Commercial and State Government Canada U.S. Federal Scandinavia U.K. and Australia Finland, Poland and Baltics Central and Eastern Europe Asia Pacific % % % % % % % % % Pre-tax WACC 10.0 8.5 9.1 8.1 9.3 8.8 9.5 9.4 18.5 Long-term growth rate of net operating cash flows 1 1.6 2.0 2.0 2.0 1.8 1.9 1.7 1.8 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, 2022 | |
Provisions [abstract] | |
Provisions | Provisions Restructuring 1 Decommissioning liabilities 2 Others 3 Total $ $ $ $ As at September 30, 2021 19,648 24,852 45,625 90,125 Additional provisions 10,948 1,374 13,875 26,197 Business acquisitions — 1,935 4,308 6,243 Utilized amounts (19,140) (1,222) (27,096) (47,458) Reversals of unused amounts — (2,201) (18,008) (20,209) Discount rate adjustment and imputed interest — 168 — 168 Foreign currency translation adjustment (812) (1,976) (1,693) (4,481) As at September 30, 2022 10,644 22,930 17,011 50,585 Current portion 10,561 6,256 16,286 33,103 Non-current portion 83 16,674 725 17,482 1 Restructuring provisions include integration costs for terminations of employment. 2 As at September 30, 2022, the decommissioning liabilities were based on the expected cash flows of $23,641,000 and were discounted at a weighted average rate of 0.62%. The timing of settlements of these obligations ranges between one 3 As at September 30, 2022, others included litigation and claims, provisions on revenue-generating contracts and onerous supplier contracts. |
Long-term debt
Long-term debt | 12 Months Ended |
Sep. 30, 2022 | |
Borrowings [abstract] | |
Long-term debt | Long-term debt As at As at $ $ 2011 U.S. Senior unsecured note of $319,663 (U.S.$250,000) 1 — 318,009 2014 U.S. Senior unsecured notes repayable in September by tranches of $412,680 (U.S.$300,000) in 2024 and $137,560 (U.S.$100,000) in two yearly repayments of U.S.$50,000 in 2023 and 2024 2 550,177 570,298 2021 U.S. Senior unsecured notes repayable of $825,360 (U.S.$600,000) in September 2026 and $550,240 (U.S.$400,000) in September 2031 3 1,361,974 1,253,226 2021 CAD Senior unsecured notes repayable of $600,000 in September 2028 4 595,900 595,331 Unsecured committed term loan credit facility 5 687,705 633,623 Other long-term debt 71,278 31,169 3,267,034 3,401,656 Current portion 93,447 392,727 3,173,587 3,008,929 1 In December 2021, the Company repaid the last tranche of the Senior U.S. unsecured note issued in 2011 of U.S. $250,000,000 (2011 U.S. Senior Note), for a total amount of $319,663,000, and settled the related interest rate swaps (Note 31). 2 As at September 30, 2022, an amount of $550,240,000 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 1.8 years and a weighted average interest rate of 3.98% (3.95% in 2021) (2014 U.S. Senior Notes). In September 2022, the Company repaid the fifth 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 $64,880,000 and settled the related cross-currency swaps (Note 31). The Senior unsecured notes contain covenants that require the Company to maintain certain financial ratios (Note 32). As at September 30, 2022, the Company was in compliance with these covenants. 3 As at September 30, 2022, an amount of $1,375,600,000 was borrowed less financing fees. The 2021 U.S. Senior Notes are comprised of two series of Senior U.S. unsecured notes with a weighted average maturity of 6 years and a weighted average interest rate of 1.79%. During the year ended September 30, 2022, the Company completed an offer to exchange all of its outstanding U.S.$1,000,000,000 in aggregate principal amount of senior unsecured notes, originally issued in September 2021 for an equivalent amount of notes registered with the U.S. Securities and Exchange Commission (2021 U.S. Senior Notes). 4 As at September 30, 2022, an amount of $600,000,000 was borrowed, less financing fees. The 2021 CAD Senior Notes are due in September 2028, with an interest rate of 2.10%. 5 As at September 30, 2022, an amount of $687,800,000 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 4.00%. The unsecured committed term loan credit facility contains covenants that require the Company to maintain certain financial ratios (Note 32). As at September 30, 2022, the Company was in compliance with these covenants. The Company has an unsecured committed revolving credit facility available for an amount of $1,500,000,000 that expires in October 2026. This facility bears interest at bankers' acceptance, LIBOR or Canadian prime, plus a variable margin that is determined based on the Company's leverage ratio. As at September 30, 2022, there was no amount drawn upon this facility. An amount of $4,270,000 has been committed against this facility to cover various letters of credit issued for clients and other parties. On November 1, 2022, the unsecured committed revolving credit facility was extended by one year to November 1, 2027 and can be further extended. There were no material changes in the terms and conditions including interest rates and banking covenants. The unsecured committed revolving credit facility contains covenants that require the Company to maintain certain financial ratios (Note 32). As at September 30, 2022 |
Other long-term liabilities
Other long-term liabilities | 12 Months Ended |
Sep. 30, 2022 | |
Subclassifications of assets, liabilities and equities [abstract] | |
Other long-term liabilities | Other long-term liabilities As at As at $ $ Deferred revenue 90,371 59,349 Deferred compensation plan liabilities (Note 17) 81,452 91,943 Other 1 20,285 51,370 192,108 202,662 1 As at September 30, 2021, other is mainly composed of $33,686,000 in relation with the deferral of the employer side social security payments under the U.S. Government Coronavirus Aid, Relief, and Economic Security Act (CARES Act). The amount related to CARES Act was nil as at September 30, 2022. |
Income taxes
Income taxes | 12 Months Ended |
Sep. 30, 2022 | |
Income Taxes [Abstract] | |
Income taxes | Income taxes Year ended September 30 2022 2021 $ $ Current income tax expense Current income tax expense in respect of the current year 506,608 475,833 Adjustments recognized in the current year in relation to the income tax expense of prior years 1,705 19,021 Total current income tax expense 508,313 494,854 Deferred income tax recovery Deferred income tax expense (recovery) relating to the origination and reversal of temporary differences 359 (6,165) Deferred income tax recovery relating to changes in tax rates — (460) Adjustments recognized in the current year in relation to the deferred income tax recovery of prior (7,855) (19,309) Total deferred income tax recovery (7,496) (25,934) Total income tax expense 500,817 468,920 The Company’s effective income tax rate differs from the combined Federal and Provincial Canadian statutory tax rate as follows: Year ended September 30 2022 2021 % % Company's statutory tax rate 26.5 26.5 Effect of foreign tax rate differences (1.0) (1.0) Final determination from agreements with tax authorities and expirations of statutes of limitations (0.4) 0.2 Non-deductible and tax exempt items — (0.4) Recognition of previously unrecognized temporary differences — (0.2) Minimum income tax charge 0.4 0.4 Effective income tax rate 25.5 25.5 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 51,156 6,986 (20,232) — — 2,304 40,214 Tax benefits on losses carried 43,181 1,489 9,450 — — (2,157) 51,963 Accrued compensation and 40,108 141 17,724 — (7,194) 357 51,136 Retirement benefits obligations 17,561 2,425 (2,082) 1,011 — 602 19,517 Lease liabilities 179,318 1,577 252 — — (10,075) 171,072 PP&E, contract costs, intangible (121,309) (27,347) 5,912 — — (8,310) (151,054) Right-of-use assets (134,808) (1,405) (6,179) — — 9,635 (132,757) Work in progress (22,190) — 9,018 — — 344 (12,828) Goodwill (70,845) — (5,619) — — (5,153) (81,617) Refundable tax credits on (19,673) — (376) — — — (20,049) Cash flow hedges (5,626) — 4,333 (9,146) — 41 (10,398) Other 7,447 180 (4,705) (223) — 491 3,190 Deferred taxes, net (35,680) (15,954) 7,496 (8,358) (7,194) (11,921) (71,611) As at September 30, 2020 Additions Recognized in earnings Recognized Recognized in equity Foreign currency translation 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) The deferred tax balances are presented as follows in the consolidated balance sheets: As at As at $ $ Deferred tax assets 85,795 96,358 Deferred tax liabilities (157,406) (132,038) (71,611) (35,680) 16. Income taxes (continued) As at September 30, 2022, the Company had $258,244,000 ($225,002,000 as at September 30, 2021) in operating tax losses carried forward, of which $110,918,000 ($82,548,000 as at September 30, 2021) expire at various dates from 2029 to 2042 and $147,326,000 ($142,454,000 as at September 30, 2021) have no expiry dates. As at September 30, 2022, a deferred income tax asset of $46,893,000 ($38,371,000 as at September 30, 2021) has been recognized on $179,329,000 ($162,693,000 as at September 30, 2021) 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, 2022, the Company had $12,450,000 ($25,325,000 as at September 30, 2021) of unrecognized operating tax losses that will expire at various dates from 2029 to 2042 and $66,466,000 ($36,984,000 as at September 30, 2021) that have no expiry date. As at September 30, 2022, the Company had $421,218,000 ($469,097,000 as at September 30, 2021) in non-operating tax losses carried forward that have no expiry dates. As at September 30, 2022, a deferred income tax asset of $5,070,000 ($4,810,000 as at September 30, 2021) has been recognized on $20,295,000 ($20,534,000 as at September 30, 2021) of these losses. As at September 30, 2022, the Company had $400,923,000 ($448,563,000 as at September 30, 2021) of unrecognized non-operating tax losses. As at September 30, 2022, the Company had $907,577,702 ($1,420,634,000 as at September 30, 2021) 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 $7,100,148,000 ($6,290,351,000 as at September 30, 2021) 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, 2022 | |
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., France and Germany: 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 45% 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 latest funding actuarial valuations of the three defined benefit pension plans described above were being performed as at September 30, 2021 and the results were finalized during the year ended September 30, 2022 with the following recommendations: – The actuarial valuation of the CMG U.K. Pension Scheme reported a surplus of $34,707,000. It specified that no supplementary contributions were required in order to reach the plan funding objectives. During fiscal 2022, the Company contributed an amount of $693,000 to cover administration expenses; and – The actuarial valuation of the Logica U.K. Pension & Life Assurance Scheme reported a surplus of $85,000. It specified that no supplementary contributions were required in order to reach the plan funding objectives. During fiscal 2022, the Company contributed an amount of $314,000 to cover service costs; and – The actuarial valuation of the Logica Defined Benefit Pension Plan reported a surplus of $17,819,000. It specified that no supplementary contributions were required in order to reach the plan funding objectives. Since November 30, 2019, the Company did not contribute to the plan. 17. Employee benefits (continued) DEFINED BENEFIT PLANS (CONTINUED) France In France, the retirement indemnities are provided in accordance with the Labour Code. Upon retirement, employees receive an indemnity, depending on the salary and seniority in the Company, in the form of a lump-sum payment. 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.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. The following tables present amounts for post-employment benefits plans included in the consolidated balance sheets: As at September 30, 2022 U.K. France Germany Other Total $ $ $ $ $ Defined benefit obligations (525,262) (77,477) (61,420) (60,368) (724,527) Fair value of plan assets 571,909 — 11,028 33,616 616,553 46,647 (77,477) (50,392) (26,752) (107,974) Fair value of reimbursement rights — — 18,495 382 18,877 Net asset (liability) recognized in the balance sheet 46,647 (77,477) (31,897) (26,370) (89,097) Other long-term assets (Note 10) Insurance contracts held to fund defined — — 18,495 382 18,877 Retirement benefits assets 46,647 — — 424 47,071 Retirement benefits obligations — (77,477) (50,392) (27,176) (155,045) 46,647 (77,477) (31,897) (26,370) (89,097) As at September 30, 2021 U.K. France Germany Other Total $ $ $ $ $ Defined benefit obligations (881,008) (77,006) (94,381) (82,159) (1,134,554) Fair value of plan assets 986,359 661 12,234 37,040 1,036,294 105,351 (76,345) (82,147) (45,119) (98,260) Fair value of reimbursement rights — — 20,823 427 21,250 Net asset (liability) recognized in the balance sheet 105,351 (76,345) (61,324) (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 — (76,345) (82,147) (45,996) (204,488) 105,351 (76,345) (61,324) (44,692) (77,010) 17. Employee benefits (continued) DEFINED BENEFIT PLANS (CONTINUED) Defined benefit obligations U.K. France Germany Other Total $ $ $ $ $ As at September 30, 2021 881,008 77,006 94,381 82,159 1,134,554 Current service cost 1,114 5,673 531 5,735 13,053 Interest cost 16,877 740 768 2,748 21,133 Business acquisitions (Note 26a) — 10,192 — — 10,192 Actuarial gains due to change in financial assumptions 1 (285,653) (20,586) (25,735) (10,104) (342,078) Actuarial losses (gains) due to change in demographic assumptions 1 7,882 921 — (520) 8,283 Actuarial losses due to experience 1 4,081 12,112 2,214 3,848 22,255 Plan participant contributions 80 — — — 80 Benefits paid from the plan (24,018) (622) (647) (6,421) (31,708) Benefits paid directly by employer — (1,318) (2,848) (866) (5,032) Foreign currency translation adjustment 1 (76,109) (6,641) (7,244) (4,217) (94,211) Other — — — (11,994) (11,994) As at September 30, 2022 525,262 77,477 61,420 60,368 724,527 Defined benefit obligations of unfunded plans — 77,477 — 18,829 96,306 Defined benefit obligations of funded plans 525,262 — 61,420 41,539 628,221 As at September 30, 2022 525,262 77,477 61,420 60,368 724,527 Defined benefit obligations U.K. France Germany Other Total $ $ $ $ $ As at September 30, 2020 891,628 84,442 104,090 83,584 1,163,744 Current service cost 1,114 6,004 665 8,095 15,878 Interest cost 13,490 529 642 2,867 17,528 Past service cost 346 — — — 346 Actuarial losses (gains) due to change in financial assumptions 1 21,722 (2,922) (1,201) (1,125) 16,474 Actuarial (gains) losses due to experience 1 (9,994) (3,498) 521 (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 — (2,492) (2,954) (2,242) (7,688) Foreign currency translation adjustment 1 (7,454) (5,057) (6,329) (4,940) (23,780) As at September 30, 2021 881,008 77,006 94,381 82,159 1,134,554 Defined benefit obligations of unfunded — 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 77,006 94,381 82,159 1,134,554 1 Amounts recognized in other comprehensive income. 17. Employee benefits (continued) DEFINED BENEFIT PLANS (CONTINUED) Plan assets and reimbursement rights U.K. France Germany Other Total $ $ $ $ $ As at September 30, 2021 986,359 661 33,057 37,467 1,057,544 Interest income on plan assets 18,901 — 274 1,907 21,082 Employer contributions 1,007 1,318 2,638 4,449 9,412 Return on assets excluding interest income 1 (324,003) — (214) (1,836) (326,053) Plan participant contributions 80 — — 393 473 Benefits paid from the plan (24,018) (622) (647) (6,421) (31,708) Benefits paid directly by employer — (1,318) (2,848) (866) (5,032) Administration expenses paid from the plan (1,568) — — (7) (1,575) Foreign currency translation adjustment 1 (84,849) (39) (2,737) (1,088) (88,713) As at September 30, 2022 571,909 — 29,523 33,998 635,430 Plan assets 571,909 — 11,028 33,616 616,553 Reimbursement rights — — 18,495 382 18,877 As at September 30, 2022 571,909 — 29,523 33,998 635,430 Plan assets and reimbursement rights U.K. France Germany Other Total $ $ $ $ $ As at September 30, 2020 977,137 692 35,271 35,357 1,048,457 Interest income on plan assets 14,795 5 216 1,507 16,523 Employer contributions 1,640 2,492 3,462 7,649 15,243 Return on assets excluding interest income 1 32,252 7 384 1,836 34,479 Plan participant contributions 92 — — 393 485 Benefits paid from the plan (29,936) — (1,053) (3,521) (34,510) Benefits paid directly by employer — (2,492) (2,954) (2,242) (7,688) Administration expenses paid from the plan (1,400) — — (8) (1,408) Foreign currency translation adjustment 1 (8,221) (43) (2,269) (3,504) (14,037) As at September 30, 2021 986,359 661 33,057 37,467 1,057,544 Plan assets 986,359 661 12,234 37,040 1,036,294 Reimbursement rights — — 20,823 427 21,250 As at September 30, 2021 986,359 661 33,057 37,467 1,057,544 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, 2022 U.K. France Germany Other Total $ $ $ $ $ Quoted equities 196,611 — — — 196,611 Quoted bonds 102,658 — — — 102,658 Cash 143,312 — — 65 143,377 Other 1 129,328 — 11,028 33,551 173,907 571,909 — 11,028 33,616 616,553 As at September 30, 2021 U.K. France Germany Other Total $ $ $ $ $ Quoted equities 426,066 — — — 426,066 Quoted bonds 109,787 — — — 109,787 Cash 36,974 — — 64 37,038 Other 1 413,532 661 12,234 36,976 463,403 986,359 661 12,234 37,040 1,036,294 1 Other is mainly composed of quoted investment funds and various insurance policies 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 2022 2021 $ $ Current service cost 13,053 15,878 Past service cost — 346 Net interest on net defined benefit obligations or assets 51 1,005 Administration expenses 1,575 1,408 14,679 18,637 1 The expense was presented as costs of services, selling and administrative for an amount of $13,053,000 and as net finance costs for an amount of $1,626,000 (Note 25) ($16,224,000 and $2,413,000, respectively for the year ended September 30, 2021). 17. Employee benefits (continued) DEFINED BENEFIT PLANS (CONTINUED) Actuarial assumptions The following are the principal actuarial assumptions calculated as weighted averages of the defined benefit obligations. 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, 2022 U.K France Germany Other % % % % Discount rate 4.95 3.75 4.07 6.02 Future salary increases 0.35 3.77 2.50 2.51 Future pension increases 3.30 — 2.10 0.60 Inflation rate 3.60 2.20 2.00 4.06 As at September 30, 2021 U.K. France Germany Other % % % % Discount rate 2.03 0.90 0.88 4.22 Future salary increases 0.35 3.75 2.50 2.36 Future pension increases 3.38 — 1.80 0.10 Inflation rate 3.45 1.50 2.00 3.75 The average longevity over 65 of a member presently at age 45 and 65 are as follows: As at September 30, 2022 U.K. Germany (in years) Longevity at age 65 for current members Males 22.0 21.0 Females 23.8 24.0 Longevity at age 45 for current members Males 23.3 23.0 Females 25.3 26.0 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 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, 2022: (1) U.K.: 100% S2PxA (year of birth) plus CMI_2020 projections with 1.25% p.a. minimum long term improvement rate, (2) Germany: Heubeck RT2018G and (3) France: INSEE TVTD 2016-2018. The following tables show the sensitivity of the defined benefit obligations to changes in the principal actuarial assumptions: As at September 30, 2022 U.K. France Germany $ $ $ Increase of 0.25% in the discount rate (19,249) (2,294) (1,512) Decrease of 0.25% in the discount rate 20,234 2,500 1,578 Salary increase of 0.25% 193 2,584 20 Salary decrease of 0.25% (188) (2,388) (19) Pension increase of 0.25% 13,324 — 774 Pension decrease of 0.25% (12,614) — (747) Increase of 0.25% in inflation rate 21,301 2,584 774 Decrease of 0.25% in inflation rate (16,005) (2,388) (747) Increase of one year in life expectancy 12,957 281 1,511 Decrease of one year in life expectancy (13,093) (320) (1,360) As at September 30, 2021 U.K. France Germany $ $ $ Increase of 0.25% in the discount rate (36,571) (2,716) (2,986) Decrease of 0.25% in the discount rate 38,221 2,851 3,144 Salary increase of 0.25% 480 2,870 35 Salary decrease of 0.25% (471) (2,746) (34) 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 2,870 1,440 Decrease of 0.25% in inflation rate (34,478) (2,746) (1,381) Increase of one year in life expectancy 27,907 555 3,131 Decrease of one year in life expectancy (27,556) (585) (2,761) 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 2022 2021 (in years) U.K. 17 18 France 13 15 Germany 11 13 Other 8 9 17. Employee benefits (continued) DEFINED BENEFIT PLANS (CONTINUED) The Company expects to contribute $7,257,000 to defined benefit plans during the next year, of which $329,000 relates to the U.K. plans, and $6,928,000 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 $226,079,000 in 2022 ($224,010,000 in 2021). 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 0.48% and the Company’s proportion of the total number of active members in the plan is 0.47%. 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 funding ratio is normally allowed to vary between 125% and 175%. As at September 30, 2022, Alecta collective funding ratio was 189% (169% in 2021). The plan expense was $29,539,000 in 2022 ($31,807,000 in 2021). The Company expects to contribute $20,131,000 to the plan during the next year. OTHER BENEFIT PLANS As at September 30, 2022, the deferred compensation liability totaled $81,452,000 ($91,943,000 as at September 30, 2021) (Note 15) and the deferred compensation assets totaled $71,863,000 ($81,633,000 as at September 30, 2021) (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 $71,863,000 as at September 30, 2022 ($81,245,000 as at September 30, 2021). |
Accumulated other comprehensive
Accumulated other comprehensive income | 12 Months Ended |
Sep. 30, 2022 | |
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 $45,419 ($43,208 as at September 30, 2021) 291,532 611,230 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 $43,936 ($41,611 as at September 30, 2021) (271,690) (267,149) Deferred gains of hedging on cross-currency swaps, net of accumulated income tax expense of $4,664 ($2,369 as at September 30, 2021) 28,274 6,569 Net unrealized gains on cash flow hedges, net of accumulated income tax expense of $10,398 $1,252 as at September 30, 2021) 30,274 5,029 Net unrealized (losses) gains on financial assets at fair value through other comprehensive income, net of accumulated income tax recovery of $1,367 (net of accumulated income tax expense of $592 as at September 30, 2021) (4,072) 2,191 Items that will not be reclassified subsequently to net earnings: Net remeasurement losses on defined benefit plans, net of accumulated income tax recovery of $12,095 ($11,084 as at September 30, 2021) (34,572) (26,290) 39,746 331,580 For the year ended September 30, 2022, $4,151,000 of the net unrealized gains on cash flow hedges, net of income tax expense of $998,000, previously recognized in other comprehensive income were reclassified in the consolidated statements of earnings ($412,000 of net unrealized loss on cash flow hedges, net of income tax recovery of $623,000, were reclassified for the year ended September 30, 2021). For the year ended September 30, 2022, $10,746,000 of the deferred gains of hedging on cross-currency swaps, net of income tax expense of 3,876,000, were also reclassified in the consolidated statements of earnings ($10,317,000 and $3,719,000, respectively for the year ended September 30, 2021 ). |
Capital stock
Capital stock | 12 Months Ended |
Sep. 30, 2022 | |
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 2022 and 2021, 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, 2020 230,690,875 1,721,491 28,945,706 40,382 259,636,581 1,761,873 Release of shares held in trusts 1 — 7,150 — — — 7,150 Issued upon exercise of stock options 2 1,290,919 73,827 — — 1,290,919 73,827 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 Release of shares held in trusts 1 — 15,821 — — — 15,821 Issued upon exercise of stock options 2 941,059 50,236 — — 941,059 50,236 Purchased and cancelled 3 (8,809,839) (134,409) — — (8,809,839) (134,409) Purchased and not cancelled 3 — (881) — — — (881) Purchased and held in trusts 4 — (70,303) — — — (70,303) As at September 30, 2022 211,302,549 1,456,275 26,445,706 36,894 237,748,255 1,493,169 1 During the year ended September 30, 2022, 235,441 shares held in trust were released (119,108 during the year ended September 30, 2021) with a recorded value of $15,821,000 ($7,150,000 during the year ended September 30, 2021) that was removed from contributed surplus. As at September 30, 2022, $1,841,709 Class A subordinate voting shares were held in trusts under the PSU plans (1,433,521 as at September 30, 2021). 2 The carrying value of Class A subordinate voting shares includes $8,549,000 ($12,773,000 during the year ended September 30, 2021), 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, 2022. 3 On February 1, 2022, 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 18,781,981 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, 2022 until no later than February 5, 2023, 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, 2022, the Company purchased for cancellation 4,907,073 Class A subordinate voting shares from the Caisse de dépôt et placement du Québec, in two separate transactions on March 1, 2022 and August 1, 2022, for total aggregate cash consideration of $500,000,000 (4,204,865 and $400,000,000, respectively during the year ended September 30, 2021). The excess of the purchase price over the carrying value in the amount of $395,026,000 was charged to retained earnings ($310,048,000 during the year ended September 30, 2021). The purchases were made pursuant to two exemption orders issued by the Autorité des marchés financiers and are considered within the annual aggregate limit that the Company is entitled to purchase under its current NCIB. 1 In addition, during the year ended September 30, 2022, the Company purchased for cancellation 3,866,171 Class A subordinate voting shares (11,255,600 during the year ended September 30, 2021) under its previous and current NCIB for a cash consideration of $408,656,000 ($1,119,226,000 during the year ended September 30, 2021) and the excess of the purchase price over the carrying value in the amount of $378,340,000 ($1,030,437,000 during the year ended September 30, 2021) was charged to retained earnings. Of the purchased Class A subordinate voting shares, 113,405 shares with a carrying value of $881,000 and a purchase value of $11,670,000 were held by the Company and were paid and cancelled subsequent to September 30, 2022. 1 As of September 30, 2021, 150,000 Class A subordinate voting shares purchased for cancellation, for a cash consideration of $16,402,000 and with a carrying value of $1,181,000, were held by the Company and were paid and cancelled during the year ended September 30, 2022. 4 During the year ended September 30, 2022, the trustees, in accordance with the terms of the PSU plans and Trust Agreements, purchased 643,629 Class A subordinate voting shares of the Company on the open market (309,606 during the year ended September 30, 2021) for a cash consideration of $70,303,000 ($31,404,000 during the year ended September 30, 2021). 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, 2022 | |
Share-Based Payment Arrangements [Abstract] | |
Share-based payments | Share-based payments a) 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 second plan vest at the end of the four-year period while granted PSUs under the first plan vest annually over a period of four years from the date of the grant. 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, 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 Granted 1 805,699 Exercised (Note 19) (237,294) Forfeited (175,017) Outstanding as at September 30, 2022 1,809,591 1 The PSUs granted in 2022 had a grant date fair value of $109.07 per unit ($94.00 in 2021). b) 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, 2022, 15,327,686 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: 2022 2021 Number of options Weighted Number of options Weighted $ $ Outstanding, beginning of year 8,012,077 64.49 8,934,097 61.33 Granted 11,940 110.10 995,160 97.86 Exercised (Note 19) (941,059) 44.30 (1,290,919) 47.29 Forfeited (188,130) 97.55 (622,940) 107.82 Expired (11,983) 104.36 (3,321) 108.44 Outstanding, end of year 6,882,845 66.36 8,012,077 64.49 Exercisable, end of year 5,837,921 61.02 5,781,579 54.76 The weighted average share price at the date of exercise for stock options exercised in 2022 was $107.09 ($104.75 in 2021). 20. Share-based payments (continued) b) Stock options (continued) The following table summarizes information about the outstanding stock options granted by the Company as at September 30, 2022: Options outstanding Options exercisable Range of Number of options Weighted Weighted Number of options Weighted average exercise price $ (in years) $ $ 23.65 to 38.79 982,507 1.06 33.01 982,507 33.01 39.47 to 50.94 970,493 2.71 45.46 970,493 45.46 52.63 to 63.72 2,532,301 4.45 63.04 2,532,301 63.04 67.04 to 87.65 1,311,981 5.92 84.05 1,005,535 83.60 97.84 to 115.01 1,085,563 7.91 101.61 347,085 103.69 6,882,845 4.54 66.36 5,837,921 61.02 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 2022 2021 Grant date fair value ($) 20.94 16.76 Dividend yield (%) 0.00 0.00 Expected volatility (%) 1 21.27 20.76 Risk-free interest rate (%) 1.28 0.40 Expected life (years) 4.00 4.00 Exercise price ($) 110.10 97.86 Share price ($) 110.10 97.86 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. 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. 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, 2022, the number of outstanding DSUs was 119,090 (101,578 DSUs as at September 30, 2021). 20. Share-based payments (continued) 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 2022 2021 $ $ PSUs 42,148 32,484 Stock options 6,848 13,108 Share purchase plan 136,275 128,662 DSUs 1,455 2,876 186,726 177,130 |
Earnings per share
Earnings per share | 12 Months Ended |
Sep. 30, 2022 | |
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: 2022 2021 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 1,466,142 239,262,004 6.13 1,369,072 249,119,219 5.50 Net effect of dilutive stock options and PSUs 2 3,605,441 3,969,661 Diluted 1,466,142 242,867,445 6.04 1,369,072 253,088,880 5.41 1 During the year ended September 30, 2022, 8,839,439 Class A subordinate voting shares purchased for cancellation and 1,841,709 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 (15,460,465 and 1,433,521, respectively during the year ended September 30, 2021). 2 The calculation of the diluted earnings per share excluded 307,272 stock options for the year ended September 30, 2022 (1,276,809 for the year ended September 30, 2021), as they were anti-dilutive. |
Remaining performance obligatio
Remaining performance obligations | 12 Months Ended |
Sep. 30, 2022 | |
Disclosure of performance obligations [abstract] | |
Remaining performance obligations | 22. Remaining performance obligations Remaining performance obligations relates to Company’s performance obligations that are partially or fully unsatisfied under fixed-fee arrangements. |
Cost of services, selling and a
Cost of services, selling and administrative | 12 Months Ended |
Sep. 30, 2022 | |
Analysis of income and expense [abstract] | |
Cost of services, selling and administrative | Costs of services, selling and administrative Year ended September 30 2022 2021 $ $ Salaries and other member costs 1 7,798,407 7,317,113 Professional fees and other contracted labour 1,459,295 1,262,659 Hardware, software and data center related costs 790,447 830,199 Property costs 214,430 216,506 Amortization, depreciation and impairment (Note 24) 468,334 505,562 Other operating expenses 45,651 46,125 10,776,564 10,178,164 1 Net of R&D and other tax credits of $155,856,000 in 2022 ($167,198,000 in 2021). |
Amortization, depreciation and
Amortization, depreciation and impairment | 12 Months Ended |
Sep. 30, 2022 | |
Analysis of income and expense [abstract] | |
Amortization, depreciation and impairment | Amortization, depreciation and impairment Year ended September 30 2022 2021 $ $ Depreciation of PP&E (Note 6) 133,651 144,423 Depreciation of right-of-use assets (Note 7) 141,295 160,240 Impairment of right-of-use assets (Note 7) 1,495 956 Amortization of contract costs related to transition costs 48,594 61,369 Impairment of contract costs related to transition costs — 4,592 Amortization of intangible assets (Note 9) 139,940 129,861 Impairment of intangible assets (Note 9) 3,359 4,121 Included in costs of services, selling and administrative (Note 23) 468,334 505,562 Amortization of contract costs related to incentives (presented as a reduction of revenue) 2,201 2,611 Amortization of deferred financing fees (presented in finance costs) 829 875 Amortization of premiums and discounts on investments related to funds held for clients (presented net as a reduction (increase) of revenue) 37 (102) Impairment of PP&E (presented in integration costs) (Note 6) 858 1,113 Impairment of right-of-use assets (presented in integration costs) (Note 7) 2,363 511 474,622 510,570 |
Net finance costs
Net finance costs | 12 Months Ended |
Sep. 30, 2022 | |
Analysis of income and expense [abstract] | |
Net finance costs | Net finance costs Year ended September 30 2022 2021 $ $ Interest on long-term debt 57,752 67,467 Interest on lease liabilities 27,426 33,255 Net interest costs on net defined benefit obligations or assets (Note 17) 1,626 2,413 Other finance costs 8,413 6,774 Finance costs 95,217 109,909 Finance income (3,194) (3,111) 92,023 106,798 |
Investments in subsidiaries
Investments in subsidiaries | 12 Months Ended |
Sep. 30, 2022 | |
Business Combinations [Abstract] | |
Investments in subsidiaries | 26. Investments in subsidiaries a) Business acquisitions realized in current fiscal year The Company made the following acquisitions during the year ended September 30, 2022: – On October 1, 2021, the Company acquired all of the outstanding shares of Array Holding Company, Inc. (Array), for a purchase price of $60,337,000. Based in the United States, Array is a 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 $90,900,000. Based in Spain, CMC is a provider of technology and management consulting services and solutions, headquartered in Madrid. – On February 28, 2022, the Company acquired all of the outstanding shares of Unico Computer Systems Pty Ltd (Unico), for a purchase price of $39,814,000. Based in Australia, Unico is a technology consultancy and systems integrator, headquartered in Melbourne. – On May 25, 2022, the Company acquired all of the outstanding shares of Harwell Management (Harwell), for a purchase price of $47,309,000. Based in France, Harwell is a management consulting firm specializing in the financial services industry, headquartered in Paris. – On May 31, 2022, the Company acquired control of Umanis SA (Umanis) through the acquisition of 72.4% of its outstanding shares (excluding treasury shares), for a purchase price of $303,896,000, and filed with the French financial markets authority (Autorité des Marchés Financiers) the draft mandatory tender offer to purchase all remaining outstanding shares. . These acquisitions were made to further expand CGI’s footprint in their respective regions and to complement CGI's proximity model. 26. Investments in subsidiaries (continued) a) Business acquisitions realized in current 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: CMC Umanis Others Total $ $ $ $ Current assets 46,900 106,102 18,267 171,269 PP&E (Note 6) 1,556 5,179 1,429 8,164 Right-of-use assets (Note 7) 3,353 12,855 5,906 22,114 Contract costs 979 — — 979 Intangible assets 1 (Note 9) 20,657 62,337 27,653 110,647 Other long-term assets 2,336 16,362 — 18,698 Goodwill 2 (Note 12) 93,638 391,026 146,184 630,848 Current liabilities (41,055) (96,141) (26,904) (164,100) Long-term debt (37,937) (77,973) (46,730) (162,640) Lease liabilities (3,920) (12,919) (6,342) (23,181) Deferred tax liabilities (2,706) (12,688) (560) (15,954) Retirement benefits obligations (Note 17) — (9,743) (449) (10,192) 83,801 384,397 118,454 586,652 Cash acquired 7,099 35,861 29,006 71,966 Net assets acquired 90,900 420,258 147,460 658,618 Consideration paid 79,291 420,258 139,643 639,192 Consideration payable 11,609 — 7,817 19,426 1 Intangible assets are mainly composed of client relationships. 2 The goodwill arising from the acquisitions mainly represents the future economic value associated to acquired work force and synergies with the Company’s operations. The goodwill is not deductible for tax purposes. During the year ended September 30, 2022, the Company finalized the fair value of assets acquired and liabilities assumed for Array and CMC. The fair value of all assets acquired and liabilities assumed for Unico, Harwell and Umanis are preliminary and are expected to be completed as soon as management will have gathered all the information available and considered necessary in order to finalize this allocation. The following 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 and adjustments to the fair value of assets acquired and liabilities assumed. For the year ended September 30, 2022, on a pro-forma basis, the above acquisitions would have contributed approximately $600,000,000 of revenues and $43,000,000 of earnings before income taxes to the financial results of the Company had the acquisition dates been October 1, 2021. Since their respective date of acquisition, on a pro-forma basis, the Umanis and CMC acquisitions generated approximately $113,000,000 and $112,000,000, respectively, in revenues and contributed approximately $9,000,000 and $5,000,000, respectively, to the earnings before income taxes to the financial results of the Company. 26. Investments in subsidiaries (continued) b) Business acquisitions realized in the prior 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. These acquisitions were made to further expand CGI's footprint in the region and to complement CGI's proximity model. 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 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. In addition, during the year ended September 30, 2022, the Company paid $4,700,000 related to acquisitions realized in prior fiscal years. 26. Investments in subsidiaries (continued) c) Acquisition-related and integration costs During the year ended September 30, 2022, the Company expensed $27,654,000, for acquisition-related and integration costs. This amount includes acquisition-related costs of $3,094,000, and integration costs of $24,560,000. The acquisition-related costs consist mainly of professional fees incurred for the acquisitions. The integration costs include terminations of employment of $10,948,000, accounted for in restructuring provisions (note 13), and other integration costs of $13,612,000, mainly related to lease of vacated premises. During the year ended September 30, 2021, the Company expensed $7,371,000, for acquisition-related and integration costs. This amount included acquisition-related costs of $293,000, and integration costs of $7,078,000. The acquisition-related costs consisted mainly of professional fees incurred for the acquisitions. The integration costs included terminations of employment of $1,008,000, accounted for in restructuring provisions, and other integration costs of $6,070,000. d) Disposal There was no significant disposal during the years ended September 30, 2022 and 2021. |
Supplementary cash flow informa
Supplementary cash flow information | 12 Months Ended |
Sep. 30, 2022 | |
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: 2022 2021 $ $ Accounts receivable (47,789) (42,336) Work in progress (116,260) (12,354) Prepaid expenses and other assets (10,907) (33,631) Long-term financial assets 22,929 (10,241) Accounts payable and accrued liabilities 108,188 60,822 Accrued compensation and employee-related liabilities (43,429) 233,670 Deferred revenue 43,656 62,307 Income taxes (2,626) 59,620 Provisions (41,561) (105,292) Long-term liabilities (28,074) 1,535 Derivative financial instruments (70) (249) Retirement benefits obligations 5,050 1,013 (110,893) 214,864 b) Non-cash operating and investing activities related to operations are as follows for the years ended September 30: 2022 2021 $ $ Operating activities Accounts payable and accrued liabilities 7,720 18,707 Provisions 262 805 7,982 19,512 Investing activities Purchase of PP&E (16,732) (18,162) Additions, disposals/retirements, change in estimates and lease modifications of right-of-use assets (101,180) (104,467) Additions to intangible assets (1,127) (1,350) (119,039) (123,979) 27. Supplementary cash flow information (continued) c) Changes arising from financing activities are as follows for the years ended September 30: 2022 2021 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 3,401,656 17,187 776,940 3,587,095 32,234 876,370 Cash used in financing activities excluding equity Increase of long-term debt — — — 1,885,262 — — Repayment of long-term debt and lease liabilities (401,654) — (160,583) (1,888,777) — (174,808) Repayment of debt assumed in business acquisitions (113,036) — — — — — Settlement of derivative financial instruments (Note 31) — 6,258 — — (6,992) — Non-cash financing activities Additions, disposals/retirements and change in estimates and lease modifications of right-of-use assets — — 95,547 — — 102,281 Additions through business acquisitions (Note 26) 162,640 — 23,181 — — 5,733 Changes in foreign currency exchange rates 207,561 (169,660) (25,153) (172,984) (8,055) (30,721) Other 9,867 — (731) (8,940) — (1,915) Balance, end of year 3,267,034 (146,215) 709,201 3,401,656 17,187 776,940 d) Interest paid and received and income taxes paid are classified within operating activities and are as follows for the years ended September 30: 2022 2021 $ $ Interest paid 115,408 131,646 Interest received 28,247 15,929 Income taxes paid 435,558 382,833 e) Cash and cash equivalents consisted of unrestricted cash as at September 30, 2022 and 2021. |
Segmented information
Segmented information | 12 Months Ended |
Sep. 30, 2022 | |
Disclosure of operating segments [abstract] | |
Segmented information | Segmented information The following tables present information on the Company's operations based on its revised management structure. Segment results are based on the location from which the services are delivered - the geographic delivery model. The company has restated the segmented information for the comparative period to conform to the new segmented information structure (Note 12). Year ended September 30, 2022 Western and Southern Europe U.S. Commercial and State Government Canada U.S. Federal Scandinavia and Central Europe U.K. and Australia Finland, Poland and Baltics Northwest and Central-East Europe Asia Pacific Eliminations Total $ $ $ $ $ $ $ $ $ $ $ Segment revenue 2,152,113 2,075,321 1,981,380 1,750,902 1,571,118 1,291,125 729,024 692,859 799,661 (176,302) 12,867,201 Segment earnings before acquisition-related and integration costs, net finance costs and income tax expense 1 289,730 304,767 463,289 276,395 125,728 200,117 96,651 88,287 241,672 — 2,086,636 Acquisition-related and integration costs (Note 26c) (27,654) Net finance costs (Note 25) (92,023) Earnings before income taxes 1,966,959 1 Total amortization and depreciation of $470,572,000 included in the Western and Southern Europe, U.S. Commercial and State Government, Canada, U.S. Federal, Scandinavia and Central Europe, U.K. and Australia, Finland, Poland and Baltics, Northwest and Central-East Europe and Asia Pacific segments is $62,922,000,$70,417,000, $57,528,000, $54,073,000, $91,435,000, $40,765,000, $33,219,000, $34,323,000 and $25,890,000, respectively, for the year ended September 30, 2022. Amortization in intangible assets of $3,359,000 includes impairments mainly from a business solution in Northwest and Central-East Europe for $2,131,000.These assets were no longer expected to generate future economic benefits. Year ended September 30, 2021 Western and Southern Europe U.S. Commercial and State Government Canada U.S. Federal Scandinavia and Central Europe U.K. and Australia Finland, Poland and Baltics Northwest and Central-East Europe Asia Pacific Eliminations Total $ $ $ $ $ $ $ $ $ $ $ Segment revenue 1,917,760 1,800,747 1,755,804 1,607,431 1,663,470 1,355,603 768,994 716,183 680,554 (139,753) 12,126,793 Segment earnings before acquisition-related and integration costs, net finance costs and income tax expense 1 269,350 281,217 390,370 252,657 138,191 218,624 114,358 79,898 207,496 — 1,952,161 Acquisition-related and integration costs (Note 26c) (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, Scandinavia and Central Europe, U.K. and Australia, Finland, Poland and Baltics, Northwest and Central-East Europe and Asia Pacific segments is $60,186,000, $71,037,000, $65,038,000, $49,636,000, $102,474,000, $57,888,000, $39,275,000, $35,298,000 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. 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: 2022 2021 $ $ Western and Southern Europe France 1,846,832 1,721,622 Spain 111,515 33,490 Portugal 105,225 105,776 Others 52,510 42,332 2,116,082 1,903,220 U.S. 1 3,987,025 3,510,193 Canada 2,143,211 1,892,246 Scandinavia and Central Europe Germany 811,458 786,426 Sweden 697,941 782,581 Norway 143,259 166,127 1,652,658 1,735,134 U.K. and Australia U.K. 1,397,161 1,487,774 Australia 75,746 67,916 1,472,907 1,555,690 Finland, Poland and Baltics Finland 727,853 754,412 Others 34,676 37,660 762,529 792,072 Northwest and Central-East Europe Netherlands 494,227 479,597 Denmark 114,849 124,553 Czech Republic 54,621 55,821 Others 64,632 73,493 728,329 733,464 Asia Pacific Others 4,460 4,774 4,460 4,774 12,867,201 12,126,793 1 External revenue included in the U.S Commercial and State Government and U.S. Federal operating segments was $2,226,473,000 and $1,760,552,000, respectively in 2022 ($1,889,999,000 and $1,620,194,000, respectively in 2021). 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. 556,075 488,262 Canada 374,757 388,408 France 217,261 120,360 U.K. 112,924 132,897 Sweden 100,088 140,409 Finland 97,486 89,451 Germany 89,527 105,998 India 71,942 70,288 Netherlands 47,274 45,082 Rest of the world 114,966 94,499 1,782,300 1,675,654 INFORMATION ABOUT SERVICES The following table provides revenue information based on services provided by the Company for the year ended September 30: 2022 2021 $ $ Managed IT and business process services 6,980,988 6,722,967 Business and strategic IT consulting and systems integration services 5,886,213 5,403,826 12,867,201 12,126,793 MAJOR CLIENT INFORMATION Contracts with the U.S. federal government and its various agencies, included within the U.S. Federal operating segment, accounted for $1,705,173,000 and 13.3% of revenues for the year ended September 30, 2022 ($1,550,345,000 and 12.8% for the year ended September 30, 2021). |
Related party transactions
Related party transactions | 12 Months Ended |
Sep. 30, 2022 | |
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: 2022 2021 $ $ Short-term employee benefits 34,430 30,325 Share-based payments 23,819 19,727 |
Commitments, contingencies and
Commitments, contingencies and guarantees | 12 Months Ended |
Sep. 30, 2022 | |
Other Provisions, Contingent Liabilities And Contingent Assets [Abstract] | |
Commitments, contingencies and guarantees | Commitments, contingencies and guarantees a) Commitments As at September 30, 2022, the Company entered into long-term service agreements representing a total commitment of $250,049,000. Minimum payments under these agreements are due as follows: $ Less than one year 146,662 Between one and three years 83,065 Between three and five years 20,322 Beyond five years — 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, 2022. 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, 2022, the Company had committed a total of $19,259,000 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 $67,566,000 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, 2022 | |
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 the 2014 U.S. Senior 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 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 c ash, cash equivalents and cash included in funds held for clients 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, 2022, 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, 2022 As at September 30, 2021 Level Carrying amount Fair value Carrying amount Fair value $ $ $ $ 2014 U.S. Senior Notes Level 2 550,177 539,752 888,307 936,084 2021 U.S. Senior Notes Level 2 1,361,974 1,127,739 1,253,226 1,255,055 2021 CAD Senior Notes Level 2 595,900 503,227 595,331 585,506 Other long-term debt Level 2 71,278 68,991 31,169 30,345 2,579,329 2,239,709 2,768,033 2,806,990 For the remaining financial assets and liabilities measured at amortized cost, the carrying values approximate the fair values of the financial instruments given their short term maturity. During the year ended September 30, 2022, the Company entered into Canadian dollar to euro fixed for fixed cross-currency swap agreements for a notional amount of $600,000,000, related to the 2021 CAD Senior Notes, which has a maturity date of September 2028. The cross-currency swaps were designated as hedging instruments on the Company’s net investment in European operations. 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, 2022 As at September 30, 2021 $ $ Financial assets FVTE Cash and cash equivalents Level 2 966,458 1,699,206 Cash included in funds held for clients (Note 5) Level 2 504,726 456,525 Deferred compensation plan assets (Note 11) Level 1 71,863 81,633 1,543,047 2,237,364 Derivative financial instruments designated as Current derivative financial instruments included in current Level 2 Cross-currency swaps 8,740 4,146 Foreign currency forward contracts 18,934 12,745 Interest rate swaps — 1,043 Long-term derivative financial instruments (Note 11) Level 2 Cross-currency swaps 222,246 24,347 Foreign currency forward contracts 15,631 9,231 265,551 51,512 FVOCI Short-term investments included in current financial assets Level 2 6,184 1,027 Long-term bonds included in funds held for clients (Note 5) Level 2 94,113 136,629 Long-term investments (Note 11) Level 2 16,826 19,354 117,123 157,010 Financial liabilities Derivative financial instruments designated as Current derivative financial instruments Level 2 Cross-currency swaps — 5,762 Foreign currency forward contracts 5,710 735 Long-term derivative financial instruments Level 2 Cross-currency swaps 1,685 39,918 Foreign currency forward contracts 4,795 1,866 12,190 48,281 There have been no transfers between Level 1 and Level 2 for the years ended September 30, 2022 and 2021. 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 During the year ended September 30, 2022, the Company had interest rate swaps whereby the Company received a fixed rate of interest and paid interest at a variable rate of its 2011 U.S. Senior Note. These swaps were being used to hedge the exposure to changes in the fair value of the debt. In December 2021, the Company repaid the last tranche of the 2011 U.S. Senior Note and settled the related interest rate swaps (Note 14). 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 2011 U.S. Senior Note U.S.$250,000 4.99% LIBOR 1 month +3.26% December 2021 — 1,043 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, 2022, the Senior U.S. unsecured notes of a carrying value of $1,547,617,000 and a nominal amount of $1,547,680,000 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 $759,400 From 1.62% to 3.81% €521,337 From (0.14)% to 2.51% From September 2023 to 2028 78,647 12,859 $136,274 From 3.57% to 3.63% £75,842 From 2.67% to 2.80% September 2024 24,247 9,814 $58,419 From 3.57% to 3.68% kr371,900 From 2.12% to 2.18% September 2024 12,625 5,820 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 104,330 (27,819) Cash flow hedges of 2014 U.S Senior Notes US$265,000 From 3.74% to 4.06% $354,093 From 3.45% to 3.81% From September 2023 to 2024 9,452 (17,861) Total 229,301 (17,187) During the year ended September 30, 2022, the Company settled cross-currency swaps with a notional amount of $69,300,000 for a net amount of $6,258,000. 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, 2022, 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$227,289 80.99 83.17 (7,803) 4,002 CAD/INR $302,557 62.40 64.41 7,865 882 EUR/INR €67,895 96.28 95.93 11,690 6,650 GBP/INR £61,686 106.91 105.62 12,753 2,390 SEK/INR kr49,908 9.04 7.40 1,047 (10) EUR/GBP — 1,033 EUR/MAD €22,190 11.00 10.70 (201) 2,064 EUR/CZK €7,082 26.80 26.87 611 758 EUR/SEK €7,241 10.77 10.36 (148) 1,396 Others $65,935 (1,754) 210 Total 24,060 19,375 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. 2022 2021 euro U.S. dollar British pound impact Swedish euro U.S. dollar British pound impact Swedish $ $ $ $ $ $ $ $ Increase in net earnings 2,835 3,604 622 883 1,294 1,416 1,227 171 Decrease in other comprehensive loss (183,986) (179,780) (31,700) (8,577) (83,334) (187,587) (25,622) (8,287) 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, 2022 Carrying amount Contractual cash flows Less than one year Between one and three years Between three and five years Beyond $ $ $ $ $ $ Non-derivative financial liabilities Accounts payable and accrued liabilities 1,016,407 1,016,407 1,016,407 — — — Accrued compensation and employee-related 1,130,726 1,130,726 1,130,726 — — — 2014 U.S. Senior Notes 550,177 591,467 90,680 500,787 — — 2021 U.S. Senior Notes 1,361,974 1,537,370 24,623 49,246 862,639 600,862 2021 CAD Senior Notes 595,900 675,600 12,600 25,200 25,200 612,600 Unsecured committed term loan credit 687,705 721,807 27,053 694,754 — — Lease liabilities 709,201 808,445 182,815 295,017 166,848 163,765 Other long-term debt 71,278 80,324 25,843 11,919 42,557 5 Clients’ funds obligations 604,431 604,431 604,431 — — — Derivative financial liabilities Cash flow hedges of future revenue 10,505 Outflow 304,698 110,827 193,871 — — (Inflow) (311,446) (109,319) (202,127) — — Cross-currency swaps 1,685 Outflow 168,213 74,902 93,311 — — (Inflow) (167,586) (74,762) (92,824) — — 6,739,989 7,160,456 3,116,826 1,569,154 1,097,244 1,377,232 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 — — — 2011 & 2014 U.S. Senior 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 31. Financial instruments (continued) LIQUIDITY RISK (CONTINUED) As at September 30, 2022, the Company held cash and cash equivalents, funds held for clients, short-term investments and long-term investments of $1,588,307,000 ($2,312,741,000 as at September 30, 2021). The Company also had available $1,495,730,000 in unsecured committed revolving credit facility ($1,493,372,000 as at September 30, 2021). As at September 30, 2022, trade accounts receivable amounted to $1,106,187,000 (Note 4) ($938,417,000 as at September 30, 2021). 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; financial services; manufacturing, retail & distribution; 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: 2022 2021 $ $ Not past due 950,928 818,520 Past due 1-30 days 81,000 47,702 Past due 31-60 days 25,694 21,582 Past due 61-90 days 12,142 7,402 Past due more than 90 days 39,883 46,939 1,109,647 942,145 Allowance for doubtful accounts (3,460) (3,728) 1,106,187 938,417 In addition, the exposure to credit risk of cash, cash equivalents and cash included in funds held for clients 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, 2022 | |
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, 2022, total managed capital was $12,238,427,000 ($12,884,415,000 as at September 30, 2021). 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, 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 2014 U.S. Senior 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 2011 U.S. Senior 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, 2022 | |
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 - IAS 7 Statement of Cash Flows | CHANGE IN ACCOUNTING POLICY- IAS 7 STATEMENT OF CASH FLOWS In 2022, the IFRS Interpretations Committee finalized its agenda decision that restrictions on the use of demand deposits arising from a contract with a third party do not result in those deposits no longer being cash and cash equivalents when they are available to an entity on demand. Therefore, they should be included in cash and cash equivalents in the statements of cash flows, with disclosure provided on significant cash and cash equivalents balances with restrictions on use. |
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. 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 relies on 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, 2022, 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 and strategic IT consulting and systems integration services, 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 performance obligations, the Company recognizes the remaining consideration prospectively. 3. Summary of significant accounting policies (continued) REVENUE RECOGNITION, WORK IN PROGRESS AND DEFERRED REVENUE (CONTINUED) Revenue is recognized when or as the Company satisfies a performance obligation by transferring a promise of good or service to the customer and are measured at the amount of consideration the Company expects to be entitled to receive, including variable consideration, such as, discounts, volume rebates, service-level penalties, and incentives. Variable consideration is estimated using either the expected value method or most likely amount method and is included only to the extent it is highly probable that a significant reversal of cumulative revenue recognized will not occur. In making this judgement, management will mostly consider all information available at the time (historical, current and forecasted), the Company’s knowledge of the client or the industry, the type of services to be delivered and the specific contractual terms of each arrangement. Revenue from sales of third party vendor's products, such as software licenses, hardware or services is recorded on a gross basis when the Company is a principal to the transaction and is recorded net of costs when the Company is acting as an agent between the client and vendor. To determine whether the Company is a principal or an agent, it evaluates whether control is obtained of the goods or services before they are transferred to the client. This is often demonstrated when the Company provides significant integration of the goods and services from a third party vendor into the Company's goods and services delivered to the client. Other factors considered include whether the Company has the primary responsibility for providing the product or service, has inventory risk before the specified good or service has been transferred to a client, or after transfer of control to a client, 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 and strategic IT consulting and systems integration services Revenue from business and strategic IT consulting and systems integration services under time and material arrangements is recognized over time as the services are rendered, and revenue under cost-based arrangements is recognized over time as reimbursable costs are incurred. Contractual billings of such arrangements correspond with the value provided to the client, and therefore revenues are generally recognized when amounts become billable. Revenue from business and strategic IT consulting and systems integration services under fixed-fee arrangements is recognized using the percentage-of-completion method over time, as the Company has no alternative use for the asset created and has an enforceable right to payment for performance completed to date. The Company primarily uses labour costs to measure the progress towards completion. This method relies on estimates of total expected labour costs, which are compared to labour costs incurred to date, to arrive at an estimate of the progress to completion which determines 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. 3. Summary of significant accounting policies (continued) REVENUE RECOGNITION, WORK IN PROGRESS AND DEFERRED REVENUE (CONTINUED) 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 and strategic IT consulting and systems integration services section above. Revenue from maintenance services for software licenses sold is recognized straight-line over the term of the maintenance period. Work in progress and deferred revenue Amounts recognized as revenue in excess of billings are classified as work in progress. Amounts received in advance of the performance of services or delivery of products are classified as deferred revenue. Work in progress and deferred revenue are presented net on a contract by-contract basis. During the year ended September 30, 2022, the revenues recognized from the short-term deferred revenue was not significantly different than what was presented as at September 30, 2021. |
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 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. 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 at the lease date. 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 or a change in the assessment of an option to purchase or terminate the lease, for – a modification in the residual guarantees or in future lease payments due to a change of an index or rate tied to the payments, for which the lease liability is remeasured by discounting the revised lease payments using the initial discount rate determined when setting up the liability. |
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 consisting of employee compensation and related fringe benefits. Labour costs also include 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. |
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 3 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. |
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 judgements and estimates 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 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. 3. Summary of significant accounting policies (continued) INCOME TAXES (CONTINUED) 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 | 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. 3. Summary of significant accounting policies (continued) TRANSLATION OF FOREIGN CURRENCIES (CONTINUED) 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 PSU and equity-settled stock option 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 closing price of Class A subordinate voting shares of the Company on the Toronto Stock Exchange (TSX) for the PSUs and the grant date using the Black-Scholes option pricing model for the stock options. The number of PSUs and stock options 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 PSUs are exercised, the recorded fair value of PSUs is removed from contributed surplus and credited to capital stock. 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. 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, cash included in funds held for clients, 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. 3. Summary of significant accounting policies (continued) FINANCIAL INSTRUMENTS (CONTINUED) Amortized Cost Trade accounts receivable, 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 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. |
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. 3. Summary of significant accounting policies (continued) DERIVATIVE FINANCIAL INSTRUMENTS AND HEDGING TRANSACTIONS (CONTINUED) 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 repaid in December 2021. Under the interest rate swaps, the Company received a fixed rate of interest and paid interest at a variable rate on the notional amount. The changes in the fair value of the interest rate swaps are recognized in the consolidated statements of earnings as finance costs. The changes in the fair value of the hedged items attributable to the risk hedged is recorded as part of the carrying value of the Senior U.S. unsecured notes and are also recognized in the consolidated statements of earnings as finance costs. If the hedged items are derecognized, the unamortized fair value is recognized immediately in the consolidated statements of earnings. Cost of hedging The Company has elected to account for forward element and foreign currency basis spread of forward contracts and cross-currency swaps as costs of hedging. In such cases, the deferred costs (gains) 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. 3. Summary of significant accounting policies (continued) EMPLOYEE BENEFITS (CONTINUED) 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 standard and future accounting standard changes | ADOPTION OF ACCOUNTING STANDARD The following standard amendments have been adopted by the Company on October 1, 2021: 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 standard 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 standard amendments introduce 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 instrument relationships 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, 2022, 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 Company is currently managing the process to transition the existing impacted agreements to an alternative rate. The implementation of these standard amendments resulted in no impact on the Company’s consolidated financial statements. FUTURE ACCOUNTING STANDARD CHANGES The following standard amendments are effective as of October 1, 2022 for the Company. 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 standard amendments clarify 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 implementation of these standard amendments will result in no significant impact on the Company's consolidated financial statements. The following standard amendments 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 these standard amendments 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 standard amendments clarify 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. 3. Summary of significant accounting policies (continued) FUTURE ACCOUNTING STANDARD CHANGES (CONTINUED) 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. 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. The following standard amendments have been issued and will be effective as of October 1, 2024 for the Company, with earlier application permitted. The Company is currently evaluating the impact of these standard amendments on its consolidated financial statements. Information about long-term debt with covenants – Amendments to IAS 1 In October, 2022, the IASB has issued standard amendments to IAS 1 Presentation of Financial Statements |
Summary of significant accoun_3
Summary of significant accounting policies (Tables) | 12 Months Ended |
Sep. 30, 2022 | |
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, 2021 78,907 244,824 150,617 592,892 1,067,240 Additions 5,202 24,040 9,344 117,196 155,782 Additions - business acquisitions (Note 26a) — 4,776 984 2,404 8,164 Disposals/retirements (4,116) (6,997) (6,466) (88,261) (105,840) Foreign currency translation adjustment (2,622) (3,671) (2,396) (25,506) (34,195) As at September 30, 2022 77,371 262,972 152,083 598,725 1,091,151 Accumulated depreciation As at September 30, 2021 21,961 156,012 97,693 439,482 715,148 Depreciation expense (Note 24) 2,888 24,127 11,815 94,821 133,651 Impairment (Note 24) — 858 — — 858 Disposals/retirements (893) (6,958) (6,424) (88,261) (102,536) Foreign currency translation adjustment (489) (3,392) (1,782) (19,915) (25,578) As at September 30, 2022 23,467 170,647 101,302 426,127 721,543 Net carrying amount as at September 30, 2022 53,904 92,325 50,781 172,598 369,608 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 26b) — 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 |
Disclosure of estimated useful lives of intangible assets | Internal-use software 2 to 7 years Business solutions 3 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, 2021 79,210 98,891 78,641 624,850 167,374 1,154,620 2,203,586 Additions 1,385 10,111 1,160 103,309 22,015 — 137,980 Additions - business acquisitions (Note 26a) 3,176 — 1,630 — 303 105,538 110,647 Disposals/retirements (6,399) (2,647) (2,007) (28,932) (23,020) — (63,005) Foreign currency translation adjustment (1,410) (1,869) (844) 34,794 (3,694) (28,765) (1,788) As at September 30, 2022 75,962 104,486 78,580 734,021 162,978 1,231,393 2,387,420 Accumulated amortization and As at September 30, 2021 72,303 53,834 72,731 365,597 124,201 1,008,127 1,696,793 Amortization expense (Note 24) 4,948 14,711 3,201 48,211 21,655 47,214 139,940 Impairment (Note 24) — 519 — 2,840 — — 3,359 Disposals/retirements (6,399) (2,647) (2,007) (28,932) (23,020) — (63,005) Foreign currency translation adjustment (1,230) (1,094) (831) 20,582 (2,819) (20,234) (5,626) As at September 30, 2022 69,622 65,323 73,094 408,298 120,017 1,035,107 1,771,461 Net carrying amount as at September 30, 6,340 39,163 5,486 325,723 42,961 196,286 615,959 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 26b) — — 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 and 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 |
Accounts receivable (Tables)
Accounts receivable (Tables) | 12 Months Ended |
Sep. 30, 2022 | |
Subclassifications of assets, liabilities and equities [abstract] | |
Disclosure of accounts receivable | As at As at $ $ Trade (Note 31) 1,106,187 938,417 R&D and other tax credits 1 163,608 187,347 Other 93,750 105,688 1,363,545 1,231,452 1 |
Funds held for clients (Tables)
Funds held for clients (Tables) | 12 Months Ended |
Sep. 30, 2022 | |
Subclassifications of assets, liabilities and equities [abstract] | |
Disclosure of funds held for clients | As at As at $ $ Cash (Note 31) 504,726 456,525 Long-term bonds (Note 31) 94,113 136,629 598,839 593,154 |
Property, plant and equipment (
Property, plant and equipment (Tables) | 12 Months Ended |
Sep. 30, 2022 | |
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, 2021 78,907 244,824 150,617 592,892 1,067,240 Additions 5,202 24,040 9,344 117,196 155,782 Additions - business acquisitions (Note 26a) — 4,776 984 2,404 8,164 Disposals/retirements (4,116) (6,997) (6,466) (88,261) (105,840) Foreign currency translation adjustment (2,622) (3,671) (2,396) (25,506) (34,195) As at September 30, 2022 77,371 262,972 152,083 598,725 1,091,151 Accumulated depreciation As at September 30, 2021 21,961 156,012 97,693 439,482 715,148 Depreciation expense (Note 24) 2,888 24,127 11,815 94,821 133,651 Impairment (Note 24) — 858 — — 858 Disposals/retirements (893) (6,958) (6,424) (88,261) (102,536) Foreign currency translation adjustment (489) (3,392) (1,782) (19,915) (25,578) As at September 30, 2022 23,467 170,647 101,302 426,127 721,543 Net carrying amount as at September 30, 2022 53,904 92,325 50,781 172,598 369,608 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 26b) — 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 |
Right-of-use assets (Tables)
Right-of-use assets (Tables) | 12 Months Ended |
Sep. 30, 2022 | |
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, 2021 1,080,867 174,354 39,093 1,294,314 Additions 90,830 25,554 3,683 120,067 Additions - business acquisitions (Note 26a) 21,622 492 — 22,114 Change in estimates and lease modifications (7,946) — — (7,946) Disposals/retirements (88,546) (11,704) — (100,250) Foreign currency translation adjustment (47,382) (8,532) (2,087) (58,001) As at September 30, 2022 1,049,445 180,164 40,689 1,270,298 Accumulated depreciation As at September 30, 2021 606,558 67,975 33,574 708,107 Depreciation expense (Note 24) 103,489 33,260 4,546 141,295 Impairment (Note 24) 3,858 — — 3,858 Disposals/retirements (74,973) (7,749) — (82,722) Foreign currency translation adjustment (28,925) (4,563) (1,873) (35,361) As at September 30, 2022 610,007 88,923 36,247 735,177 Net carrying amount as at September 30, 2022 439,438 91,241 4,442 535,121 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 26b) 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 |
Contract costs (Tables)
Contract costs (Tables) | 12 Months Ended |
Sep. 30, 2022 | |
Revenue From Contracts With Customers [Abstract] | |
Disclosure of contract costs | As at September 30, 2022 As at September 30, 2021 Cost Accumulated amortization and impairment Net carrying amount Cost Accumulated amortization and impairment Net carrying amount $ $ $ $ $ $ Transition costs 481,836 225,468 256,368 487,106 262,311 224,795 Incentives 50,331 45,087 5,244 52,200 46,433 5,767 532,167 270,555 261,612 539,306 308,744 230,562 |
Intangible assets (Tables)
Intangible assets (Tables) | 12 Months Ended |
Sep. 30, 2022 | |
Intangible assets other than goodwill [abstract] | |
Disclosure of detailed information about intangible assets | Internal-use software 2 to 7 years Business solutions 3 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, 2021 79,210 98,891 78,641 624,850 167,374 1,154,620 2,203,586 Additions 1,385 10,111 1,160 103,309 22,015 — 137,980 Additions - business acquisitions (Note 26a) 3,176 — 1,630 — 303 105,538 110,647 Disposals/retirements (6,399) (2,647) (2,007) (28,932) (23,020) — (63,005) Foreign currency translation adjustment (1,410) (1,869) (844) 34,794 (3,694) (28,765) (1,788) As at September 30, 2022 75,962 104,486 78,580 734,021 162,978 1,231,393 2,387,420 Accumulated amortization and As at September 30, 2021 72,303 53,834 72,731 365,597 124,201 1,008,127 1,696,793 Amortization expense (Note 24) 4,948 14,711 3,201 48,211 21,655 47,214 139,940 Impairment (Note 24) — 519 — 2,840 — — 3,359 Disposals/retirements (6,399) (2,647) (2,007) (28,932) (23,020) — (63,005) Foreign currency translation adjustment (1,230) (1,094) (831) 20,582 (2,819) (20,234) (5,626) As at September 30, 2022 69,622 65,323 73,094 408,298 120,017 1,035,107 1,771,461 Net carrying amount as at September 30, 6,340 39,163 5,486 325,723 42,961 196,286 615,959 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 26b) — — 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 and 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 |
Other long-term assets (Tables)
Other long-term assets (Tables) | 12 Months Ended |
Sep. 30, 2022 | |
Subclassifications of assets, liabilities and equities [abstract] | |
Disclosure of other long-term assets | As at As at $ $ Prepaid long-term maintenance agreements 28,720 32,019 Insurance contracts held to fund defined benefit pension and life assurance arrangements - reimbursement rights (Note 17) 18,877 21,250 Retirement benefits assets (Note 17) 47,071 106,228 Deposits 22,595 15,641 Deferred financing fees 2,827 2,533 Other 19,576 13,841 139,666 191,512 |
Long-term financial assets (Tab
Long-term financial assets (Tables) | 12 Months Ended |
Sep. 30, 2022 | |
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) 71,863 81,633 Long-term investments (Note 31) 16,826 19,354 Long-term receivables 10,590 18,093 Long-term derivative financial instruments (Note 31) 237,877 33,578 337,156 152,658 |
Goodwill (Tables)
Goodwill (Tables) | 12 Months Ended |
Sep. 30, 2022 | |
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 Scandinavia and Central Europe U.K. and Australia Finland, Poland and Baltics Northwest and Central-East Europe Asia Pacific Total $ $ $ $ $ $ $ $ $ $ As at September 30, 2021 1,022,350 1,169,772 1,142,148 947,782 1,140,573 895,921 619,990 931,361 269,804 8,139,701 Business acquisitions (Note 26) 516,204 9,970 — 73,375 — 31,299 — — — 630,848 Goodwill reallocation (3,236) — — — 367,907 — — (364,671) — — Foreign currency translation adjustment (95,299) 98,434 — 87,110 (163,134) (92,260) (52,362) (65,383) (6,199) (289,093) As at September 30, 2022 1,440,019 1,278,176 1,142,148 1,108,267 1,345,346 834,960 567,628 501,307 263,605 8,481,456 |
Key assumptions for cash-generating units | The key assumptions for the CGUs are disclosed in the following tables for the years ended September 30: 2022 Western and Southern Europe U.S. Commercial and State Government Canada U.S. Federal Scandinavia and Central Europe U.K. and Australia Finland, Poland and Baltics Northwest and Central-East Europe Asia Pacific % % % % % % % % % Pre-tax WACC 10.0 10.6 10.7 9.2 10.5 10.6 10.7 10.7 19.2 Long-term growth rate of net operating cash flows 1 1.8 2.0 2.0 2.0 2.0 1.9 2.0 1.9 2.0 2021 Western and Southern Europe U.S. Commercial and State Government Canada U.S. Federal Scandinavia U.K. and Australia Finland, Poland and Baltics Central and Eastern Europe Asia Pacific % % % % % % % % % Pre-tax WACC 10.0 8.5 9.1 8.1 9.3 8.8 9.5 9.4 18.5 Long-term growth rate of net operating cash flows 1 1.6 2.0 2.0 2.0 1.8 1.9 1.7 1.8 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, 2022 | |
Provisions [abstract] | |
Disclosure of movement in provisions | Restructuring 1 Decommissioning liabilities 2 Others 3 Total $ $ $ $ As at September 30, 2021 19,648 24,852 45,625 90,125 Additional provisions 10,948 1,374 13,875 26,197 Business acquisitions — 1,935 4,308 6,243 Utilized amounts (19,140) (1,222) (27,096) (47,458) Reversals of unused amounts — (2,201) (18,008) (20,209) Discount rate adjustment and imputed interest — 168 — 168 Foreign currency translation adjustment (812) (1,976) (1,693) (4,481) As at September 30, 2022 10,644 22,930 17,011 50,585 Current portion 10,561 6,256 16,286 33,103 Non-current portion 83 16,674 725 17,482 1 Restructuring provisions include integration costs for terminations of employment. 2 As at September 30, 2022, the decommissioning liabilities were based on the expected cash flows of $23,641,000 and were discounted at a weighted average rate of 0.62%. The timing of settlements of these obligations ranges between one 3 As at September 30, 2022, others included litigation and claims, provisions on revenue-generating contracts and onerous supplier contracts. |
Long-term debt (Tables)
Long-term debt (Tables) | 12 Months Ended |
Sep. 30, 2022 | |
Borrowings [abstract] | |
Disclosure of long-term debt | As at As at $ $ 2011 U.S. Senior unsecured note of $319,663 (U.S.$250,000) 1 — 318,009 2014 U.S. Senior unsecured notes repayable in September by tranches of $412,680 (U.S.$300,000) in 2024 and $137,560 (U.S.$100,000) in two yearly repayments of U.S.$50,000 in 2023 and 2024 2 550,177 570,298 2021 U.S. Senior unsecured notes repayable of $825,360 (U.S.$600,000) in September 2026 and $550,240 (U.S.$400,000) in September 2031 3 1,361,974 1,253,226 2021 CAD Senior unsecured notes repayable of $600,000 in September 2028 4 595,900 595,331 Unsecured committed term loan credit facility 5 687,705 633,623 Other long-term debt 71,278 31,169 3,267,034 3,401,656 Current portion 93,447 392,727 3,173,587 3,008,929 1 In December 2021, the Company repaid the last tranche of the Senior U.S. unsecured note issued in 2011 of U.S. $250,000,000 (2011 U.S. Senior Note), for a total amount of $319,663,000, and settled the related interest rate swaps (Note 31). 2 As at September 30, 2022, an amount of $550,240,000 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 1.8 years and a weighted average interest rate of 3.98% (3.95% in 2021) (2014 U.S. Senior Notes). In September 2022, the Company repaid the fifth 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 $64,880,000 and settled the related cross-currency swaps (Note 31). The Senior unsecured notes contain covenants that require the Company to maintain certain financial ratios (Note 32). As at September 30, 2022, the Company was in compliance with these covenants. 3 As at September 30, 2022, an amount of $1,375,600,000 was borrowed less financing fees. The 2021 U.S. Senior Notes are comprised of two series of Senior U.S. unsecured notes with a weighted average maturity of 6 years and a weighted average interest rate of 1.79%. During the year ended September 30, 2022, the Company completed an offer to exchange all of its outstanding U.S.$1,000,000,000 in aggregate principal amount of senior unsecured notes, originally issued in September 2021 for an equivalent amount of notes registered with the U.S. Securities and Exchange Commission (2021 U.S. Senior Notes). 4 As at September 30, 2022, an amount of $600,000,000 was borrowed, less financing fees. The 2021 CAD Senior Notes are due in September 2028, with an interest rate of 2.10%. |
Other long-term liabilities (Ta
Other long-term liabilities (Tables) | 12 Months Ended |
Sep. 30, 2022 | |
Subclassifications of assets, liabilities and equities [abstract] | |
Disclosure of other long-term liabilities | As at As at $ $ Deferred revenue 90,371 59,349 Deferred compensation plan liabilities (Note 17) 81,452 91,943 Other 1 20,285 51,370 192,108 202,662 1 As at September 30, 2021, other is mainly composed of $33,686,000 in relation with the deferral of the employer side social security payments under the U.S. Government Coronavirus Aid, Relief, and Economic Security Act (CARES Act). The amount related to CARES Act was nil as at September 30, 2022. |
Income taxes (Tables)
Income taxes (Tables) | 12 Months Ended |
Sep. 30, 2022 | |
Income Taxes [Abstract] | |
Disclosure of income tax expense | Year ended September 30 2022 2021 $ $ Current income tax expense Current income tax expense in respect of the current year 506,608 475,833 Adjustments recognized in the current year in relation to the income tax expense of prior years 1,705 19,021 Total current income tax expense 508,313 494,854 Deferred income tax recovery Deferred income tax expense (recovery) relating to the origination and reversal of temporary differences 359 (6,165) Deferred income tax recovery relating to changes in tax rates — (460) Adjustments recognized in the current year in relation to the deferred income tax recovery of prior (7,855) (19,309) Total deferred income tax recovery (7,496) (25,934) Total income tax expense 500,817 468,920 |
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 2022 2021 % % Company's statutory tax rate 26.5 26.5 Effect of foreign tax rate differences (1.0) (1.0) Final determination from agreements with tax authorities and expirations of statutes of limitations (0.4) 0.2 Non-deductible and tax exempt items — (0.4) Recognition of previously unrecognized temporary differences — (0.2) Minimum income tax charge 0.4 0.4 Effective income tax rate 25.5 25.5 |
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 51,156 6,986 (20,232) — — 2,304 40,214 Tax benefits on losses carried 43,181 1,489 9,450 — — (2,157) 51,963 Accrued compensation and 40,108 141 17,724 — (7,194) 357 51,136 Retirement benefits obligations 17,561 2,425 (2,082) 1,011 — 602 19,517 Lease liabilities 179,318 1,577 252 — — (10,075) 171,072 PP&E, contract costs, intangible (121,309) (27,347) 5,912 — — (8,310) (151,054) Right-of-use assets (134,808) (1,405) (6,179) — — 9,635 (132,757) Work in progress (22,190) — 9,018 — — 344 (12,828) Goodwill (70,845) — (5,619) — — (5,153) (81,617) Refundable tax credits on (19,673) — (376) — — — (20,049) Cash flow hedges (5,626) — 4,333 (9,146) — 41 (10,398) Other 7,447 180 (4,705) (223) — 491 3,190 Deferred taxes, net (35,680) (15,954) 7,496 (8,358) (7,194) (11,921) (71,611) As at September 30, 2020 Additions Recognized in earnings Recognized Recognized in equity Foreign currency translation 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) The deferred tax balances are presented as follows in the consolidated balance sheets: As at As at $ $ Deferred tax assets 85,795 96,358 Deferred tax liabilities (157,406) (132,038) (71,611) (35,680) |
Employee benefits (Tables)
Employee benefits (Tables) | 12 Months Ended |
Sep. 30, 2022 | |
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, 2022 U.K. France Germany Other Total $ $ $ $ $ Defined benefit obligations (525,262) (77,477) (61,420) (60,368) (724,527) Fair value of plan assets 571,909 — 11,028 33,616 616,553 46,647 (77,477) (50,392) (26,752) (107,974) Fair value of reimbursement rights — — 18,495 382 18,877 Net asset (liability) recognized in the balance sheet 46,647 (77,477) (31,897) (26,370) (89,097) Other long-term assets (Note 10) Insurance contracts held to fund defined — — 18,495 382 18,877 Retirement benefits assets 46,647 — — 424 47,071 Retirement benefits obligations — (77,477) (50,392) (27,176) (155,045) 46,647 (77,477) (31,897) (26,370) (89,097) As at September 30, 2021 U.K. France Germany Other Total $ $ $ $ $ Defined benefit obligations (881,008) (77,006) (94,381) (82,159) (1,134,554) Fair value of plan assets 986,359 661 12,234 37,040 1,036,294 105,351 (76,345) (82,147) (45,119) (98,260) Fair value of reimbursement rights — — 20,823 427 21,250 Net asset (liability) recognized in the balance sheet 105,351 (76,345) (61,324) (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 — (76,345) (82,147) (45,996) (204,488) 105,351 (76,345) (61,324) (44,692) (77,010) 17. Employee benefits (continued) DEFINED BENEFIT PLANS (CONTINUED) Defined benefit obligations U.K. France Germany Other Total $ $ $ $ $ As at September 30, 2021 881,008 77,006 94,381 82,159 1,134,554 Current service cost 1,114 5,673 531 5,735 13,053 Interest cost 16,877 740 768 2,748 21,133 Business acquisitions (Note 26a) — 10,192 — — 10,192 Actuarial gains due to change in financial assumptions 1 (285,653) (20,586) (25,735) (10,104) (342,078) Actuarial losses (gains) due to change in demographic assumptions 1 7,882 921 — (520) 8,283 Actuarial losses due to experience 1 4,081 12,112 2,214 3,848 22,255 Plan participant contributions 80 — — — 80 Benefits paid from the plan (24,018) (622) (647) (6,421) (31,708) Benefits paid directly by employer — (1,318) (2,848) (866) (5,032) Foreign currency translation adjustment 1 (76,109) (6,641) (7,244) (4,217) (94,211) Other — — — (11,994) (11,994) As at September 30, 2022 525,262 77,477 61,420 60,368 724,527 Defined benefit obligations of unfunded plans — 77,477 — 18,829 96,306 Defined benefit obligations of funded plans 525,262 — 61,420 41,539 628,221 As at September 30, 2022 525,262 77,477 61,420 60,368 724,527 Defined benefit obligations U.K. France Germany Other Total $ $ $ $ $ As at September 30, 2020 891,628 84,442 104,090 83,584 1,163,744 Current service cost 1,114 6,004 665 8,095 15,878 Interest cost 13,490 529 642 2,867 17,528 Past service cost 346 — — — 346 Actuarial losses (gains) due to change in financial assumptions 1 21,722 (2,922) (1,201) (1,125) 16,474 Actuarial (gains) losses due to experience 1 (9,994) (3,498) 521 (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 — (2,492) (2,954) (2,242) (7,688) Foreign currency translation adjustment 1 (7,454) (5,057) (6,329) (4,940) (23,780) As at September 30, 2021 881,008 77,006 94,381 82,159 1,134,554 Defined benefit obligations of unfunded — 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 77,006 94,381 82,159 1,134,554 1 Amounts recognized in other comprehensive income. 17. Employee benefits (continued) DEFINED BENEFIT PLANS (CONTINUED) Plan assets and reimbursement rights U.K. France Germany Other Total $ $ $ $ $ As at September 30, 2021 986,359 661 33,057 37,467 1,057,544 Interest income on plan assets 18,901 — 274 1,907 21,082 Employer contributions 1,007 1,318 2,638 4,449 9,412 Return on assets excluding interest income 1 (324,003) — (214) (1,836) (326,053) Plan participant contributions 80 — — 393 473 Benefits paid from the plan (24,018) (622) (647) (6,421) (31,708) Benefits paid directly by employer — (1,318) (2,848) (866) (5,032) Administration expenses paid from the plan (1,568) — — (7) (1,575) Foreign currency translation adjustment 1 (84,849) (39) (2,737) (1,088) (88,713) As at September 30, 2022 571,909 — 29,523 33,998 635,430 Plan assets 571,909 — 11,028 33,616 616,553 Reimbursement rights — — 18,495 382 18,877 As at September 30, 2022 571,909 — 29,523 33,998 635,430 Plan assets and reimbursement rights U.K. France Germany Other Total $ $ $ $ $ As at September 30, 2020 977,137 692 35,271 35,357 1,048,457 Interest income on plan assets 14,795 5 216 1,507 16,523 Employer contributions 1,640 2,492 3,462 7,649 15,243 Return on assets excluding interest income 1 32,252 7 384 1,836 34,479 Plan participant contributions 92 — — 393 485 Benefits paid from the plan (29,936) — (1,053) (3,521) (34,510) Benefits paid directly by employer — (2,492) (2,954) (2,242) (7,688) Administration expenses paid from the plan (1,400) — — (8) (1,408) Foreign currency translation adjustment 1 (8,221) (43) (2,269) (3,504) (14,037) As at September 30, 2021 986,359 661 33,057 37,467 1,057,544 Plan assets 986,359 661 12,234 37,040 1,036,294 Reimbursement rights — — 20,823 427 21,250 As at September 30, 2021 986,359 661 33,057 37,467 1,057,544 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, 2022 U.K. France Germany Other Total $ $ $ $ $ Quoted equities 196,611 — — — 196,611 Quoted bonds 102,658 — — — 102,658 Cash 143,312 — — 65 143,377 Other 1 129,328 — 11,028 33,551 173,907 571,909 — 11,028 33,616 616,553 As at September 30, 2021 U.K. France Germany Other Total $ $ $ $ $ Quoted equities 426,066 — — — 426,066 Quoted bonds 109,787 — — — 109,787 Cash 36,974 — — 64 37,038 Other 1 413,532 661 12,234 36,976 463,403 986,359 661 12,234 37,040 1,036,294 1 Other is mainly composed of quoted investment funds and various insurance policies 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 2022 2021 $ $ Current service cost 13,053 15,878 Past service cost — 346 Net interest on net defined benefit obligations or assets 51 1,005 Administration expenses 1,575 1,408 14,679 18,637 1 The expense was presented as costs of services, selling and administrative for an amount of $13,053,000 and as net finance costs for an amount of $1,626,000 (Note 25) ($16,224,000 and $2,413,000, respectively for the year ended September 30, 2021). |
Disclosure of principal actuarial assumptions regarding defined benefit plans | The following are the principal actuarial assumptions calculated as weighted averages of the defined benefit obligations. 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, 2022 U.K France Germany Other % % % % Discount rate 4.95 3.75 4.07 6.02 Future salary increases 0.35 3.77 2.50 2.51 Future pension increases 3.30 — 2.10 0.60 Inflation rate 3.60 2.20 2.00 4.06 As at September 30, 2021 U.K. France Germany Other % % % % Discount rate 2.03 0.90 0.88 4.22 Future salary increases 0.35 3.75 2.50 2.36 Future pension increases 3.38 — 1.80 0.10 Inflation rate 3.45 1.50 2.00 3.75 The average longevity over 65 of a member presently at age 45 and 65 are as follows: As at September 30, 2022 U.K. Germany (in years) Longevity at age 65 for current members Males 22.0 21.0 Females 23.8 24.0 Longevity at age 45 for current members Males 23.3 23.0 Females 25.3 26.0 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 |
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, 2022 U.K. France Germany $ $ $ Increase of 0.25% in the discount rate (19,249) (2,294) (1,512) Decrease of 0.25% in the discount rate 20,234 2,500 1,578 Salary increase of 0.25% 193 2,584 20 Salary decrease of 0.25% (188) (2,388) (19) Pension increase of 0.25% 13,324 — 774 Pension decrease of 0.25% (12,614) — (747) Increase of 0.25% in inflation rate 21,301 2,584 774 Decrease of 0.25% in inflation rate (16,005) (2,388) (747) Increase of one year in life expectancy 12,957 281 1,511 Decrease of one year in life expectancy (13,093) (320) (1,360) As at September 30, 2021 U.K. France Germany $ $ $ Increase of 0.25% in the discount rate (36,571) (2,716) (2,986) Decrease of 0.25% in the discount rate 38,221 2,851 3,144 Salary increase of 0.25% 480 2,870 35 Salary decrease of 0.25% (471) (2,746) (34) 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 2,870 1,440 Decrease of 0.25% in inflation rate (34,478) (2,746) (1,381) Increase of one year in life expectancy 27,907 555 3,131 Decrease of one year in life expectancy (27,556) (585) (2,761) |
Disclosure of weighted average duration of benefit obligation | The weighted average duration of the defined benefit obligations are as follows: Year ended September 30 2022 2021 (in years) U.K. 17 18 France 13 15 Germany 11 13 Other 8 9 |
Accumulated other comprehensi_2
Accumulated other comprehensive income (Tables) | 12 Months Ended |
Sep. 30, 2022 | |
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 $45,419 ($43,208 as at September 30, 2021) 291,532 611,230 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 $43,936 ($41,611 as at September 30, 2021) (271,690) (267,149) Deferred gains of hedging on cross-currency swaps, net of accumulated income tax expense of $4,664 ($2,369 as at September 30, 2021) 28,274 6,569 Net unrealized gains on cash flow hedges, net of accumulated income tax expense of $10,398 $1,252 as at September 30, 2021) 30,274 5,029 Net unrealized (losses) gains on financial assets at fair value through other comprehensive income, net of accumulated income tax recovery of $1,367 (net of accumulated income tax expense of $592 as at September 30, 2021) (4,072) 2,191 Items that will not be reclassified subsequently to net earnings: Net remeasurement losses on defined benefit plans, net of accumulated income tax recovery of $12,095 ($11,084 as at September 30, 2021) (34,572) (26,290) 39,746 331,580 |
Capital stock (Tables)
Capital stock (Tables) | 12 Months Ended |
Sep. 30, 2022 | |
Disclosure of classes of share capital [abstract] | |
Schedule of outstanding shares | For the fiscal years 2022 and 2021, 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, 2020 230,690,875 1,721,491 28,945,706 40,382 259,636,581 1,761,873 Release of shares held in trusts 1 — 7,150 — — — 7,150 Issued upon exercise of stock options 2 1,290,919 73,827 — — 1,290,919 73,827 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 Release of shares held in trusts 1 — 15,821 — — — 15,821 Issued upon exercise of stock options 2 941,059 50,236 — — 941,059 50,236 Purchased and cancelled 3 (8,809,839) (134,409) — — (8,809,839) (134,409) Purchased and not cancelled 3 — (881) — — — (881) Purchased and held in trusts 4 — (70,303) — — — (70,303) As at September 30, 2022 211,302,549 1,456,275 26,445,706 36,894 237,748,255 1,493,169 1 During the year ended September 30, 2022, 235,441 shares held in trust were released (119,108 during the year ended September 30, 2021) with a recorded value of $15,821,000 ($7,150,000 during the year ended September 30, 2021) that was removed from contributed surplus. As at September 30, 2022, $1,841,709 Class A subordinate voting shares were held in trusts under the PSU plans (1,433,521 as at September 30, 2021). 2 The carrying value of Class A subordinate voting shares includes $8,549,000 ($12,773,000 during the year ended September 30, 2021), 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, 2022. 3 On February 1, 2022, 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 18,781,981 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, 2022 until no later than February 5, 2023, 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, 2022, the Company purchased for cancellation 4,907,073 Class A subordinate voting shares from the Caisse de dépôt et placement du Québec, in two separate transactions on March 1, 2022 and August 1, 2022, for total aggregate cash consideration of $500,000,000 (4,204,865 and $400,000,000, respectively during the year ended September 30, 2021). The excess of the purchase price over the carrying value in the amount of $395,026,000 was charged to retained earnings ($310,048,000 during the year ended September 30, 2021). The purchases were made pursuant to two exemption orders issued by the Autorité des marchés financiers and are considered within the annual aggregate limit that the Company is entitled to purchase under its current NCIB. 1 In addition, during the year ended September 30, 2022, the Company purchased for cancellation 3,866,171 Class A subordinate voting shares (11,255,600 during the year ended September 30, 2021) under its previous and current NCIB for a cash consideration of $408,656,000 ($1,119,226,000 during the year ended September 30, 2021) and the excess of the purchase price over the carrying value in the amount of $378,340,000 ($1,030,437,000 during the year ended September 30, 2021) was charged to retained earnings. Of the purchased Class A subordinate voting shares, 113,405 shares with a carrying value of $881,000 and a purchase value of $11,670,000 were held by the Company and were paid and cancelled subsequent to September 30, 2022. 1 As of September 30, 2021, 150,000 Class A subordinate voting shares purchased for cancellation, for a cash consideration of $16,402,000 and with a carrying value of $1,181,000, were held by the Company and were paid and cancelled during the year ended September 30, 2022. 4 During the year ended September 30, 2022, the trustees, in accordance with the terms of the PSU plans and Trust Agreements, purchased 643,629 Class A subordinate voting shares of the Company on the open market (309,606 during the year ended September 30, 2021) for a cash consideration of $70,303,000 ($31,404,000 during the year ended September 30, 2021). 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, 2022 | |
Share-Based Payment Arrangements [Abstract] | |
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, 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 Granted 1 805,699 Exercised (Note 19) (237,294) Forfeited (175,017) Outstanding as at September 30, 2022 1,809,591 1 |
Disclosure of information concerning outstanding stock options | The following table presents information concerning the outstanding stock options granted by the Company: 2022 2021 Number of options Weighted Number of options Weighted $ $ Outstanding, beginning of year 8,012,077 64.49 8,934,097 61.33 Granted 11,940 110.10 995,160 97.86 Exercised (Note 19) (941,059) 44.30 (1,290,919) 47.29 Forfeited (188,130) 97.55 (622,940) 107.82 Expired (11,983) 104.36 (3,321) 108.44 Outstanding, end of year 6,882,845 66.36 8,012,077 64.49 Exercisable, end of year 5,837,921 61.02 5,781,579 54.76 |
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, 2022: Options outstanding Options exercisable Range of Number of options Weighted Weighted Number of options Weighted average exercise price $ (in years) $ $ 23.65 to 38.79 982,507 1.06 33.01 982,507 33.01 39.47 to 50.94 970,493 2.71 45.46 970,493 45.46 52.63 to 63.72 2,532,301 4.45 63.04 2,532,301 63.04 67.04 to 87.65 1,311,981 5.92 84.05 1,005,535 83.60 97.84 to 115.01 1,085,563 7.91 101.61 347,085 103.69 6,882,845 4.54 66.36 5,837,921 61.02 |
Disclosure of number of options and weighted average remaining contractual life | The following table summarizes information about the outstanding stock options granted by the Company as at September 30, 2022: Options outstanding Options exercisable Range of Number of options Weighted Weighted Number of options Weighted average exercise price $ (in years) $ $ 23.65 to 38.79 982,507 1.06 33.01 982,507 33.01 39.47 to 50.94 970,493 2.71 45.46 970,493 45.46 52.63 to 63.72 2,532,301 4.45 63.04 2,532,301 63.04 67.04 to 87.65 1,311,981 5.92 84.05 1,005,535 83.60 97.84 to 115.01 1,085,563 7.91 101.61 347,085 103.69 6,882,845 4.54 66.36 5,837,921 61.02 |
Disclosure of weighted average assumptions used in the calculation of fair value of stock options | The weighted average fair value of stock options granted in the year and the weighted average assumptions used in the calculation of their fair value on the date of grant using the Black-Scholes option pricing model were as follows: Year ended September 30 2022 2021 Grant date fair value ($) 20.94 16.76 Dividend yield (%) 0.00 0.00 Expected volatility (%) 1 21.27 20.76 Risk-free interest rate (%) 1.28 0.40 Expected life (years) 4.00 4.00 Exercise price ($) 110.10 97.86 Share price ($) 110.10 97.86 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 share-based payment expense | The share-based payment expense recorded in costs of services, selling and administrative is as follows: Year ended September 30 2022 2021 $ $ PSUs 42,148 32,484 Stock options 6,848 13,108 Share purchase plan 136,275 128,662 DSUs 1,455 2,876 186,726 177,130 |
Earnings per share (Tables)
Earnings per share (Tables) | 12 Months Ended |
Sep. 30, 2022 | |
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: 2022 2021 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 1,466,142 239,262,004 6.13 1,369,072 249,119,219 5.50 Net effect of dilutive stock options and PSUs 2 3,605,441 3,969,661 Diluted 1,466,142 242,867,445 6.04 1,369,072 253,088,880 5.41 1 During the year ended September 30, 2022, 8,839,439 Class A subordinate voting shares purchased for cancellation and 1,841,709 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 (15,460,465 and 1,433,521, respectively during the year ended September 30, 2021). 2 The calculation of the diluted earnings per share excluded 307,272 stock options for the year ended September 30, 2022 (1,276,809 for the year ended September 30, 2021), as they were anti-dilutive. |
Cost of services, selling and_2
Cost of services, selling and administrative (Tables) | 12 Months Ended |
Sep. 30, 2022 | |
Analysis of income and expense [abstract] | |
Disclosure of cost of services, selling and administrative | Year ended September 30 2022 2021 $ $ Salaries and other member costs 1 7,798,407 7,317,113 Professional fees and other contracted labour 1,459,295 1,262,659 Hardware, software and data center related costs 790,447 830,199 Property costs 214,430 216,506 Amortization, depreciation and impairment (Note 24) 468,334 505,562 Other operating expenses 45,651 46,125 10,776,564 10,178,164 1 |
Amortization, depreciation an_2
Amortization, depreciation and impairment (Tables) | 12 Months Ended |
Sep. 30, 2022 | |
Analysis of income and expense [abstract] | |
Disclosure of amortization, depreciation and impairment | Year ended September 30 2022 2021 $ $ Depreciation of PP&E (Note 6) 133,651 144,423 Depreciation of right-of-use assets (Note 7) 141,295 160,240 Impairment of right-of-use assets (Note 7) 1,495 956 Amortization of contract costs related to transition costs 48,594 61,369 Impairment of contract costs related to transition costs — 4,592 Amortization of intangible assets (Note 9) 139,940 129,861 Impairment of intangible assets (Note 9) 3,359 4,121 Included in costs of services, selling and administrative (Note 23) 468,334 505,562 Amortization of contract costs related to incentives (presented as a reduction of revenue) 2,201 2,611 Amortization of deferred financing fees (presented in finance costs) 829 875 Amortization of premiums and discounts on investments related to funds held for clients (presented net as a reduction (increase) of revenue) 37 (102) Impairment of PP&E (presented in integration costs) (Note 6) 858 1,113 Impairment of right-of-use assets (presented in integration costs) (Note 7) 2,363 511 474,622 510,570 |
Net finance costs (Tables)
Net finance costs (Tables) | 12 Months Ended |
Sep. 30, 2022 | |
Analysis of income and expense [abstract] | |
Disclosure of finance costs | Year ended September 30 2022 2021 $ $ Interest on long-term debt 57,752 67,467 Interest on lease liabilities 27,426 33,255 Net interest costs on net defined benefit obligations or assets (Note 17) 1,626 2,413 Other finance costs 8,413 6,774 Finance costs 95,217 109,909 Finance income (3,194) (3,111) 92,023 106,798 |
Investments in subsidiaries (Ta
Investments in subsidiaries (Tables) | 12 Months Ended |
Sep. 30, 2022 | |
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: CMC Umanis Others Total $ $ $ $ Current assets 46,900 106,102 18,267 171,269 PP&E (Note 6) 1,556 5,179 1,429 8,164 Right-of-use assets (Note 7) 3,353 12,855 5,906 22,114 Contract costs 979 — — 979 Intangible assets 1 (Note 9) 20,657 62,337 27,653 110,647 Other long-term assets 2,336 16,362 — 18,698 Goodwill 2 (Note 12) 93,638 391,026 146,184 630,848 Current liabilities (41,055) (96,141) (26,904) (164,100) Long-term debt (37,937) (77,973) (46,730) (162,640) Lease liabilities (3,920) (12,919) (6,342) (23,181) Deferred tax liabilities (2,706) (12,688) (560) (15,954) Retirement benefits obligations (Note 17) — (9,743) (449) (10,192) 83,801 384,397 118,454 586,652 Cash acquired 7,099 35,861 29,006 71,966 Net assets acquired 90,900 420,258 147,460 658,618 Consideration paid 79,291 420,258 139,643 639,192 Consideration payable 11,609 — 7,817 19,426 1 Intangible assets are mainly composed of client relationships. 2 The goodwill arising from the acquisitions mainly represents the future economic value associated to acquired work force and synergies with the Company’s operations. The goodwill is not 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: 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 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. |
Supplementary cash flow infor_2
Supplementary cash flow information (Tables) | 12 Months Ended |
Sep. 30, 2022 | |
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: 2022 2021 $ $ Accounts receivable (47,789) (42,336) Work in progress (116,260) (12,354) Prepaid expenses and other assets (10,907) (33,631) Long-term financial assets 22,929 (10,241) Accounts payable and accrued liabilities 108,188 60,822 Accrued compensation and employee-related liabilities (43,429) 233,670 Deferred revenue 43,656 62,307 Income taxes (2,626) 59,620 Provisions (41,561) (105,292) Long-term liabilities (28,074) 1,535 Derivative financial instruments (70) (249) Retirement benefits obligations 5,050 1,013 (110,893) 214,864 |
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: 2022 2021 $ $ Operating activities Accounts payable and accrued liabilities 7,720 18,707 Provisions 262 805 7,982 19,512 Investing activities Purchase of PP&E (16,732) (18,162) Additions, disposals/retirements, change in estimates and lease modifications of right-of-use assets (101,180) (104,467) Additions to intangible assets (1,127) (1,350) (119,039) (123,979) |
Disclosure of financing activities | Changes arising from financing activities are as follows for the years ended September 30: 2022 2021 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 3,401,656 17,187 776,940 3,587,095 32,234 876,370 Cash used in financing activities excluding equity Increase of long-term debt — — — 1,885,262 — — Repayment of long-term debt and lease liabilities (401,654) — (160,583) (1,888,777) — (174,808) Repayment of debt assumed in business acquisitions (113,036) — — — — — Settlement of derivative financial instruments (Note 31) — 6,258 — — (6,992) — Non-cash financing activities Additions, disposals/retirements and change in estimates and lease modifications of right-of-use assets — — 95,547 — — 102,281 Additions through business acquisitions (Note 26) 162,640 — 23,181 — — 5,733 Changes in foreign currency exchange rates 207,561 (169,660) (25,153) (172,984) (8,055) (30,721) Other 9,867 — (731) (8,940) — (1,915) Balance, end of year 3,267,034 (146,215) 709,201 3,401,656 17,187 776,940 |
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: 2022 2021 $ $ Interest paid 115,408 131,646 Interest received 28,247 15,929 Income taxes paid 435,558 382,833 |
Segmented information (Tables)
Segmented information (Tables) | 12 Months Ended |
Sep. 30, 2022 | |
Disclosure of operating segments [abstract] | |
Disclosure of operating segment information | The following tables present information on the Company's operations based on its revised management structure. Segment results are based on the location from which the services are delivered - the geographic delivery model. The company has restated the segmented information for the comparative period to conform to the new segmented information structure (Note 12). Year ended September 30, 2022 Western and Southern Europe U.S. Commercial and State Government Canada U.S. Federal Scandinavia and Central Europe U.K. and Australia Finland, Poland and Baltics Northwest and Central-East Europe Asia Pacific Eliminations Total $ $ $ $ $ $ $ $ $ $ $ Segment revenue 2,152,113 2,075,321 1,981,380 1,750,902 1,571,118 1,291,125 729,024 692,859 799,661 (176,302) 12,867,201 Segment earnings before acquisition-related and integration costs, net finance costs and income tax expense 1 289,730 304,767 463,289 276,395 125,728 200,117 96,651 88,287 241,672 — 2,086,636 Acquisition-related and integration costs (Note 26c) (27,654) Net finance costs (Note 25) (92,023) Earnings before income taxes 1,966,959 1 Total amortization and depreciation of $470,572,000 included in the Western and Southern Europe, U.S. Commercial and State Government, Canada, U.S. Federal, Scandinavia and Central Europe, U.K. and Australia, Finland, Poland and Baltics, Northwest and Central-East Europe and Asia Pacific segments is $62,922,000,$70,417,000, $57,528,000, $54,073,000, $91,435,000, $40,765,000, $33,219,000, $34,323,000 and $25,890,000, respectively, for the year ended September 30, 2022. Amortization in intangible assets of $3,359,000 includes impairments mainly from a business solution in Northwest and Central-East Europe for $2,131,000.These assets were no longer expected to generate future economic benefits. Year ended September 30, 2021 Western and Southern Europe U.S. Commercial and State Government Canada U.S. Federal Scandinavia and Central Europe U.K. and Australia Finland, Poland and Baltics Northwest and Central-East Europe Asia Pacific Eliminations Total $ $ $ $ $ $ $ $ $ $ $ Segment revenue 1,917,760 1,800,747 1,755,804 1,607,431 1,663,470 1,355,603 768,994 716,183 680,554 (139,753) 12,126,793 Segment earnings before acquisition-related and integration costs, net finance costs and income tax expense 1 269,350 281,217 390,370 252,657 138,191 218,624 114,358 79,898 207,496 — 1,952,161 Acquisition-related and integration costs (Note 26c) (7,371) Net finance costs (Note 25) (106,798) Earnings before income taxes 1,837,992 |
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: 2022 2021 $ $ Western and Southern Europe France 1,846,832 1,721,622 Spain 111,515 33,490 Portugal 105,225 105,776 Others 52,510 42,332 2,116,082 1,903,220 U.S. 1 3,987,025 3,510,193 Canada 2,143,211 1,892,246 Scandinavia and Central Europe Germany 811,458 786,426 Sweden 697,941 782,581 Norway 143,259 166,127 1,652,658 1,735,134 U.K. and Australia U.K. 1,397,161 1,487,774 Australia 75,746 67,916 1,472,907 1,555,690 Finland, Poland and Baltics Finland 727,853 754,412 Others 34,676 37,660 762,529 792,072 Northwest and Central-East Europe Netherlands 494,227 479,597 Denmark 114,849 124,553 Czech Republic 54,621 55,821 Others 64,632 73,493 728,329 733,464 Asia Pacific Others 4,460 4,774 4,460 4,774 12,867,201 12,126,793 1 External revenue included in the U.S Commercial and State Government and U.S. Federal operating segments was $2,226,473,000 and $1,760,552,000, respectively in 2022 ($1,889,999,000 and $1,620,194,000, respectively in 2021). 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. 556,075 488,262 Canada 374,757 388,408 France 217,261 120,360 U.K. 112,924 132,897 Sweden 100,088 140,409 Finland 97,486 89,451 Germany 89,527 105,998 India 71,942 70,288 Netherlands 47,274 45,082 Rest of the world 114,966 94,499 1,782,300 1,675,654 |
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: 2022 2021 $ $ Managed IT and business process services 6,980,988 6,722,967 Business and strategic IT consulting and systems integration services 5,886,213 5,403,826 12,867,201 12,126,793 |
Related party transactions (Tab
Related party transactions (Tables) | 12 Months Ended |
Sep. 30, 2022 | |
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: 2022 2021 $ $ Short-term employee benefits 34,430 30,325 Share-based payments 23,819 19,727 |
Commitments, contingencies an_2
Commitments, contingencies and guarantees (Tables) | 12 Months Ended |
Sep. 30, 2022 | |
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 146,662 Between one and three years 83,065 Between three and five years 20,322 Beyond five years — |
Financial instruments (Tables)
Financial instruments (Tables) | 12 Months Ended |
Sep. 30, 2022 | |
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, 2022 As at September 30, 2021 Level Carrying amount Fair value Carrying amount Fair value $ $ $ $ 2014 U.S. Senior Notes Level 2 550,177 539,752 888,307 936,084 2021 U.S. Senior Notes Level 2 1,361,974 1,127,739 1,253,226 1,255,055 2021 CAD Senior Notes Level 2 595,900 503,227 595,331 585,506 Other long-term debt Level 2 71,278 68,991 31,169 30,345 2,579,329 2,239,709 2,768,033 2,806,990 |
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, 2022 As at September 30, 2021 $ $ Financial assets FVTE Cash and cash equivalents Level 2 966,458 1,699,206 Cash included in funds held for clients (Note 5) Level 2 504,726 456,525 Deferred compensation plan assets (Note 11) Level 1 71,863 81,633 1,543,047 2,237,364 Derivative financial instruments designated as Current derivative financial instruments included in current Level 2 Cross-currency swaps 8,740 4,146 Foreign currency forward contracts 18,934 12,745 Interest rate swaps — 1,043 Long-term derivative financial instruments (Note 11) Level 2 Cross-currency swaps 222,246 24,347 Foreign currency forward contracts 15,631 9,231 265,551 51,512 FVOCI Short-term investments included in current financial assets Level 2 6,184 1,027 Long-term bonds included in funds held for clients (Note 5) Level 2 94,113 136,629 Long-term investments (Note 11) Level 2 16,826 19,354 117,123 157,010 Financial liabilities Derivative financial instruments designated as Current derivative financial instruments Level 2 Cross-currency swaps — 5,762 Foreign currency forward contracts 5,710 735 Long-term derivative financial instruments Level 2 Cross-currency swaps 1,685 39,918 Foreign currency forward contracts 4,795 1,866 12,190 48,281 |
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, 2022 As at September 30, 2021 $ $ Financial assets FVTE Cash and cash equivalents Level 2 966,458 1,699,206 Cash included in funds held for clients (Note 5) Level 2 504,726 456,525 Deferred compensation plan assets (Note 11) Level 1 71,863 81,633 1,543,047 2,237,364 Derivative financial instruments designated as Current derivative financial instruments included in current Level 2 Cross-currency swaps 8,740 4,146 Foreign currency forward contracts 18,934 12,745 Interest rate swaps — 1,043 Long-term derivative financial instruments (Note 11) Level 2 Cross-currency swaps 222,246 24,347 Foreign currency forward contracts 15,631 9,231 265,551 51,512 FVOCI Short-term investments included in current financial assets Level 2 6,184 1,027 Long-term bonds included in funds held for clients (Note 5) Level 2 94,113 136,629 Long-term investments (Note 11) Level 2 16,826 19,354 117,123 157,010 Financial liabilities Derivative financial instruments designated as Current derivative financial instruments Level 2 Cross-currency swaps — 5,762 Foreign currency forward contracts 5,710 735 Long-term derivative financial instruments Level 2 Cross-currency swaps 1,685 39,918 Foreign currency forward contracts 4,795 1,866 12,190 48,281 |
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 2011 U.S. Senior Note U.S.$250,000 4.99% LIBOR 1 month +3.26% December 2021 — 1,043 |
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 $759,400 From 1.62% to 3.81% €521,337 From (0.14)% to 2.51% From September 2023 to 2028 78,647 12,859 $136,274 From 3.57% to 3.63% £75,842 From 2.67% to 2.80% September 2024 24,247 9,814 $58,419 From 3.57% to 3.68% kr371,900 From 2.12% to 2.18% September 2024 12,625 5,820 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 104,330 (27,819) Cash flow hedges of 2014 U.S Senior Notes US$265,000 From 3.74% to 4.06% $354,093 From 3.45% to 3.81% From September 2023 to 2024 9,452 (17,861) Total 229,301 (17,187) |
Disclosure of notional, average contract rates, maturities and sensitivity analysis for currency risk | As at September 30, 2022, 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$227,289 80.99 83.17 (7,803) 4,002 CAD/INR $302,557 62.40 64.41 7,865 882 EUR/INR €67,895 96.28 95.93 11,690 6,650 GBP/INR £61,686 106.91 105.62 12,753 2,390 SEK/INR kr49,908 9.04 7.40 1,047 (10) EUR/GBP — 1,033 EUR/MAD €22,190 11.00 10.70 (201) 2,064 EUR/CZK €7,082 26.80 26.87 611 758 EUR/SEK €7,241 10.77 10.36 (148) 1,396 Others $65,935 (1,754) 210 Total 24,060 19,375 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. 2022 2021 euro U.S. dollar British pound impact Swedish euro U.S. dollar British pound impact Swedish $ $ $ $ $ $ $ $ Increase in net earnings 2,835 3,604 622 883 1,294 1,416 1,227 171 Decrease in other comprehensive loss (183,986) (179,780) (31,700) (8,577) (83,334) (187,587) (25,622) (8,287) |
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, 2022 Carrying amount Contractual cash flows Less than one year Between one and three years Between three and five years Beyond $ $ $ $ $ $ Non-derivative financial liabilities Accounts payable and accrued liabilities 1,016,407 1,016,407 1,016,407 — — — Accrued compensation and employee-related 1,130,726 1,130,726 1,130,726 — — — 2014 U.S. Senior Notes 550,177 591,467 90,680 500,787 — — 2021 U.S. Senior Notes 1,361,974 1,537,370 24,623 49,246 862,639 600,862 2021 CAD Senior Notes 595,900 675,600 12,600 25,200 25,200 612,600 Unsecured committed term loan credit 687,705 721,807 27,053 694,754 — — Lease liabilities 709,201 808,445 182,815 295,017 166,848 163,765 Other long-term debt 71,278 80,324 25,843 11,919 42,557 5 Clients’ funds obligations 604,431 604,431 604,431 — — — Derivative financial liabilities Cash flow hedges of future revenue 10,505 Outflow 304,698 110,827 193,871 — — (Inflow) (311,446) (109,319) (202,127) — — Cross-currency swaps 1,685 Outflow 168,213 74,902 93,311 — — (Inflow) (167,586) (74,762) (92,824) — — 6,739,989 7,160,456 3,116,826 1,569,154 1,097,244 1,377,232 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 — — — 2011 & 2014 U.S. Senior 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 |
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, 2022 Carrying amount Contractual cash flows Less than one year Between one and three years Between three and five years Beyond $ $ $ $ $ $ Non-derivative financial liabilities Accounts payable and accrued liabilities 1,016,407 1,016,407 1,016,407 — — — Accrued compensation and employee-related 1,130,726 1,130,726 1,130,726 — — — 2014 U.S. Senior Notes 550,177 591,467 90,680 500,787 — — 2021 U.S. Senior Notes 1,361,974 1,537,370 24,623 49,246 862,639 600,862 2021 CAD Senior Notes 595,900 675,600 12,600 25,200 25,200 612,600 Unsecured committed term loan credit 687,705 721,807 27,053 694,754 — — Lease liabilities 709,201 808,445 182,815 295,017 166,848 163,765 Other long-term debt 71,278 80,324 25,843 11,919 42,557 5 Clients’ funds obligations 604,431 604,431 604,431 — — — Derivative financial liabilities Cash flow hedges of future revenue 10,505 Outflow 304,698 110,827 193,871 — — (Inflow) (311,446) (109,319) (202,127) — — Cross-currency swaps 1,685 Outflow 168,213 74,902 93,311 — — (Inflow) (167,586) (74,762) (92,824) — — 6,739,989 7,160,456 3,116,826 1,569,154 1,097,244 1,377,232 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 — — — 2011 & 2014 U.S. Senior 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 |
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: 2022 2021 $ $ Not past due 950,928 818,520 Past due 1-30 days 81,000 47,702 Past due 31-60 days 25,694 21,582 Past due 61-90 days 12,142 7,402 Past due more than 90 days 39,883 46,939 1,109,647 942,145 Allowance for doubtful accounts (3,460) (3,728) 1,106,187 938,417 |
Summary of significant accoun_4
Summary of significant accounting policies - Narrative (Details) - CAD ($) $ in Thousands | Sep. 30, 2022 | Sep. 30, 2021 |
Disclosure of voluntary change in accounting policy [line items] | ||
Funds held for clients | $ 598,839 | $ 593,154 |
Cash and cash equivalents | ||
Disclosure of voluntary change in accounting policy [line items] | ||
Funds held for clients | $ 504,726 | $ 456,525 |
Summary of significant accoun_5
Summary of significant accounting policies - Disclosure of estimated useful lives of property, plant and equipment (Details) | 12 Months Ended |
Sep. 30, 2022 | |
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_6
Summary of significant accounting policies - Disclosure of estimated useful lives of intangible assets (Details) | 12 Months Ended |
Sep. 30, 2022 | |
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 | 3 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 |
Accounts receivable (Details)
Accounts receivable (Details) - CAD ($) $ in Thousands | Sep. 30, 2022 | Sep. 30, 2021 |
Subclassifications of assets, liabilities and equities [abstract] | ||
Trade (Note 31) | $ 1,106,187 | $ 938,417 |
R&D and other tax credits | 163,608 | 187,347 |
Other | 93,750 | 105,688 |
Total accounts receivable | $ 1,363,545 | $ 1,231,452 |
Funds held for clients (Details
Funds held for clients (Details) - CAD ($) $ in Thousands | Sep. 30, 2022 | Sep. 30, 2021 |
Disclosure Of Funds Held For Clients [Line Items] | ||
Funds held for clients | $ 598,839 | $ 593,154 |
Cash (Note 31) | ||
Disclosure Of Funds Held For Clients [Line Items] | ||
Funds held for clients | 504,726 | 456,525 |
Long-term bonds (Note 31) | ||
Disclosure Of Funds Held For Clients [Line Items] | ||
Funds held for clients | $ 94,113 | $ 136,629 |
Property, plant and equipment_2
Property, plant and equipment (Details) - CAD ($) $ in Thousands | 12 Months Ended | |
Sep. 30, 2022 | Sep. 30, 2021 | |
Reconciliation of changes in property, plant and equipment [abstract] | ||
Beginning balance | $ 352,092 | |
Ending balance | 369,608 | $ 352,092 |
Cost | ||
Reconciliation of changes in property, plant and equipment [abstract] | ||
Beginning balance | 1,067,240 | 1,147,933 |
Additions | 155,782 | 135,723 |
Additions - business acquisitions | 8,164 | 1,822 |
Disposals/retirements | (105,840) | (178,246) |
Foreign currency translation adjustment | (34,195) | (39,992) |
Ending balance | 1,091,151 | 1,067,240 |
Accumulated depreciation | ||
Reconciliation of changes in property, plant and equipment [abstract] | ||
Beginning balance | (715,148) | (774,987) |
Disposals/retirements | 102,536 | 178,246 |
Foreign currency translation adjustment | 25,578 | 27,129 |
Depreciation expense (Note 24) | 133,651 | 144,423 |
Impairment (Note 24) | 858 | 1,113 |
Ending balance | (721,543) | (715,148) |
Land and buildings | ||
Reconciliation of changes in property, plant and equipment [abstract] | ||
Beginning balance | 56,946 | |
Ending balance | 53,904 | 56,946 |
Land and buildings | Cost | ||
Reconciliation of changes in property, plant and equipment [abstract] | ||
Beginning balance | 78,907 | 79,281 |
Additions | 5,202 | 2,000 |
Additions - business acquisitions | 0 | 0 |
Disposals/retirements | (4,116) | 0 |
Foreign currency translation adjustment | (2,622) | (2,374) |
Ending balance | 77,371 | 78,907 |
Land and buildings | Accumulated depreciation | ||
Reconciliation of changes in property, plant and equipment [abstract] | ||
Beginning balance | (21,961) | (20,124) |
Disposals/retirements | 893 | 0 |
Foreign currency translation adjustment | 489 | 753 |
Depreciation expense (Note 24) | 2,888 | 2,590 |
Impairment (Note 24) | 0 | 0 |
Ending balance | (23,467) | (21,961) |
Leasehold improvements | ||
Reconciliation of changes in property, plant and equipment [abstract] | ||
Beginning balance | 88,812 | |
Ending balance | 92,325 | 88,812 |
Leasehold improvements | Cost | ||
Reconciliation of changes in property, plant and equipment [abstract] | ||
Beginning balance | 244,824 | 241,542 |
Additions | 24,040 | 26,349 |
Additions - business acquisitions | 4,776 | 1,200 |
Disposals/retirements | (6,997) | (15,284) |
Foreign currency translation adjustment | (3,671) | (8,983) |
Ending balance | 262,972 | 244,824 |
Leasehold improvements | Accumulated depreciation | ||
Reconciliation of changes in property, plant and equipment [abstract] | ||
Beginning balance | (156,012) | (150,572) |
Disposals/retirements | 6,958 | 15,284 |
Foreign currency translation adjustment | 3,392 | 5,400 |
Depreciation expense (Note 24) | 24,127 | 25,512 |
Impairment (Note 24) | 858 | 612 |
Ending balance | (170,647) | (156,012) |
Furniture, fixtures and equipment | ||
Reconciliation of changes in property, plant and equipment [abstract] | ||
Beginning balance | 52,924 | |
Ending balance | 50,781 | 52,924 |
Furniture, fixtures and equipment | Cost | ||
Reconciliation of changes in property, plant and equipment [abstract] | ||
Beginning balance | 150,617 | 165,219 |
Additions | 9,344 | 10,956 |
Additions - business acquisitions | 984 | 208 |
Disposals/retirements | (6,466) | (20,238) |
Foreign currency translation adjustment | (2,396) | (5,528) |
Ending balance | 152,083 | 150,617 |
Furniture, fixtures and equipment | Accumulated depreciation | ||
Reconciliation of changes in property, plant and equipment [abstract] | ||
Beginning balance | (97,693) | (108,060) |
Disposals/retirements | 6,424 | 20,238 |
Foreign currency translation adjustment | 1,782 | 3,726 |
Depreciation expense (Note 24) | 11,815 | 13,547 |
Impairment (Note 24) | 0 | 50 |
Ending balance | (101,302) | (97,693) |
Computer equipment | ||
Reconciliation of changes in property, plant and equipment [abstract] | ||
Beginning balance | 153,410 | |
Ending balance | 172,598 | 153,410 |
Computer equipment | Cost | ||
Reconciliation of changes in property, plant and equipment [abstract] | ||
Beginning balance | 592,892 | 661,891 |
Additions | 117,196 | 96,418 |
Additions - business acquisitions | 2,404 | 414 |
Disposals/retirements | (88,261) | (142,724) |
Foreign currency translation adjustment | (25,506) | (23,107) |
Ending balance | 598,725 | 592,892 |
Computer equipment | Accumulated depreciation | ||
Reconciliation of changes in property, plant and equipment [abstract] | ||
Beginning balance | (439,482) | (496,231) |
Disposals/retirements | 88,261 | 142,724 |
Foreign currency translation adjustment | 19,915 | 17,250 |
Depreciation expense (Note 24) | 94,821 | 102,774 |
Impairment (Note 24) | 0 | 451 |
Ending balance | $ (426,127) | $ (439,482) |
Right-of-use assets (Details)
Right-of-use assets (Details) - CAD ($) $ in Thousands | 12 Months Ended | |
Sep. 30, 2022 | Sep. 30, 2021 | |
Reconciliation Of Changes In Right-Of-Use Assets [Abstract] | ||
Beginning balance | $ 586,207 | |
Ending balance | 535,121 | $ 586,207 |
Properties | ||
Reconciliation Of Changes In Right-Of-Use Assets [Abstract] | ||
Beginning balance | 474,309 | |
Ending balance | 439,438 | 474,309 |
Motor vehicles and others | ||
Reconciliation Of Changes In Right-Of-Use Assets [Abstract] | ||
Beginning balance | 106,379 | |
Ending balance | 91,241 | 106,379 |
Computer equipment | ||
Reconciliation Of Changes In Right-Of-Use Assets [Abstract] | ||
Beginning balance | 5,519 | |
Ending balance | 4,442 | 5,519 |
Cost | ||
Reconciliation Of Changes In Right-Of-Use Assets [Abstract] | ||
Beginning balance | 1,294,314 | 1,399,199 |
Additions | 120,067 | 83,101 |
Additions - business acquisitions | 22,114 | 4,982 |
Change in estimates and lease modifications | (7,946) | 33,774 |
Disposals/retirements | (100,250) | (174,746) |
Foreign currency translation adjustment | (58,001) | (51,996) |
Ending balance | 1,270,298 | 1,294,314 |
Cost | Properties | ||
Reconciliation Of Changes In Right-Of-Use Assets [Abstract] | ||
Beginning balance | 1,080,867 | 1,124,258 |
Additions | 90,830 | 60,318 |
Additions - business acquisitions | 21,622 | 4,982 |
Change in estimates and lease modifications | (7,946) | 33,774 |
Disposals/retirements | (88,546) | (99,373) |
Foreign currency translation adjustment | (47,382) | (43,092) |
Ending balance | 1,049,445 | 1,080,867 |
Cost | Motor vehicles and others | ||
Reconciliation Of Changes In Right-Of-Use Assets [Abstract] | ||
Beginning balance | 174,354 | 233,976 |
Additions | 25,554 | 21,955 |
Additions - business acquisitions | 492 | 0 |
Change in estimates and lease modifications | 0 | 0 |
Disposals/retirements | (11,704) | (73,190) |
Foreign currency translation adjustment | (8,532) | (8,387) |
Ending balance | 180,164 | 174,354 |
Cost | Computer equipment | ||
Reconciliation Of Changes In Right-Of-Use Assets [Abstract] | ||
Beginning balance | 39,093 | 40,965 |
Additions | 3,683 | 828 |
Additions - business acquisitions | 0 | 0 |
Change in estimates and lease modifications | 0 | 0 |
Disposals/retirements | 0 | (2,183) |
Foreign currency translation adjustment | (2,087) | (517) |
Ending balance | 40,689 | 39,093 |
Accumulated depreciation | ||
Reconciliation Of Changes In Right-Of-Use Assets [Abstract] | ||
Beginning balance | (708,107) | (732,334) |
Disposals/retirements | 82,722 | 157,204 |
Foreign currency translation adjustment | 35,361 | 28,730 |
Depreciation expense (Note 24) | 141,295 | 160,240 |
Impairment (Note 24) | 3,858 | 1,467 |
Ending balance | (735,177) | (708,107) |
Accumulated depreciation | Properties | ||
Reconciliation Of Changes In Right-Of-Use Assets [Abstract] | ||
Beginning balance | (606,558) | (605,155) |
Disposals/retirements | 74,973 | 87,557 |
Foreign currency translation adjustment | 28,925 | 24,406 |
Depreciation expense (Note 24) | 103,489 | 111,899 |
Impairment (Note 24) | 3,858 | 1,467 |
Ending balance | (610,007) | (606,558) |
Accumulated depreciation | Motor vehicles and others | ||
Reconciliation Of Changes In Right-Of-Use Assets [Abstract] | ||
Beginning balance | (67,975) | (97,573) |
Disposals/retirements | 7,749 | 67,464 |
Foreign currency translation adjustment | 4,563 | 3,900 |
Depreciation expense (Note 24) | 33,260 | 41,766 |
Impairment (Note 24) | 0 | 0 |
Ending balance | (88,923) | (67,975) |
Accumulated depreciation | Computer equipment | ||
Reconciliation Of Changes In Right-Of-Use Assets [Abstract] | ||
Beginning balance | (33,574) | (29,606) |
Disposals/retirements | 0 | 2,183 |
Foreign currency translation adjustment | 1,873 | 424 |
Depreciation expense (Note 24) | 4,546 | 6,575 |
Impairment (Note 24) | 0 | 0 |
Ending balance | $ (36,247) | $ (33,574) |
Contract costs (Details)
Contract costs (Details) - CAD ($) $ in Thousands | Sep. 30, 2022 | Sep. 30, 2021 |
Disclosure Of Contract Costs [Line Items] | ||
Transition costs | $ 256,368 | $ 224,795 |
Incentives | 5,244 | 5,767 |
Contract assets | 261,612 | 230,562 |
Cost | ||
Disclosure Of Contract Costs [Line Items] | ||
Transition costs | 481,836 | 487,106 |
Incentives | 50,331 | 52,200 |
Contract assets | 532,167 | 539,306 |
Accumulated amortization and impairment | ||
Disclosure Of Contract Costs [Line Items] | ||
Transition costs | 225,468 | 262,311 |
Incentives | 45,087 | 46,433 |
Contract assets | $ 270,555 | $ 308,744 |
Intangible assets (Details)
Intangible assets (Details) - CAD ($) $ in Thousands | 12 Months Ended | |
Sep. 30, 2022 | Sep. 30, 2021 | |
Reconciliation of changes in intangible assets other than goodwill [abstract] | ||
Beginning balance | $ 506,793 | |
Ending balance | 615,959 | $ 506,793 |
Cost | ||
Reconciliation of changes in intangible assets other than goodwill [abstract] | ||
Beginning balance | 2,203,586 | 2,253,725 |
Additions | 137,980 | 114,477 |
Additions - business acquisitions | 110,647 | 22,107 |
Disposals/retirements | (63,005) | (107,650) |
Foreign currency translation adjustment | (1,788) | (79,073) |
Ending balance | 2,387,420 | 2,203,586 |
Accumulated amortization and impairment | ||
Reconciliation of changes in intangible assets other than goodwill [abstract] | ||
Beginning balance | (1,696,793) | (1,732,263) |
Disposals/retirements | 63,005 | 107,650 |
Foreign currency translation adjustment | 5,626 | 61,802 |
Amortization expense (Note 24) | 139,940 | 129,861 |
Impairment (Note 24) | 3,359 | 4,121 |
Ending balance | (1,771,461) | (1,696,793) |
Internal-use software | Acquired | ||
Reconciliation of changes in intangible assets other than goodwill [abstract] | ||
Beginning balance | 6,907 | |
Ending balance | 6,340 | 6,907 |
Internal-use software | Acquired | Cost | ||
Reconciliation of changes in intangible assets other than goodwill [abstract] | ||
Beginning balance | 79,210 | 96,900 |
Additions | 1,385 | 107 |
Additions - business acquisitions | 3,176 | 0 |
Disposals/retirements | (6,399) | (16,427) |
Foreign currency translation adjustment | (1,410) | (1,370) |
Ending balance | 75,962 | 79,210 |
Internal-use software | Acquired | Accumulated amortization and impairment | ||
Reconciliation of changes in intangible assets other than goodwill [abstract] | ||
Beginning balance | (72,303) | (84,431) |
Disposals/retirements | 6,399 | 16,427 |
Foreign currency translation adjustment | 1,230 | 1,165 |
Amortization expense (Note 24) | 4,948 | 5,464 |
Impairment (Note 24) | 0 | 0 |
Ending balance | (69,622) | (72,303) |
Internal-use software | Internally developed | ||
Reconciliation of changes in intangible assets other than goodwill [abstract] | ||
Beginning balance | 45,057 | |
Ending balance | 39,163 | 45,057 |
Internal-use software | Internally developed | Cost | ||
Reconciliation of changes in intangible assets other than goodwill [abstract] | ||
Beginning balance | 98,891 | 131,298 |
Additions | 10,111 | 7,712 |
Additions - business acquisitions | 0 | 0 |
Disposals/retirements | (2,647) | (39,284) |
Foreign currency translation adjustment | (1,869) | (835) |
Ending balance | 104,486 | 98,891 |
Internal-use software | Internally developed | Accumulated amortization and impairment | ||
Reconciliation of changes in intangible assets other than goodwill [abstract] | ||
Beginning balance | (53,834) | (79,745) |
Disposals/retirements | 2,647 | 39,284 |
Foreign currency translation adjustment | 1,094 | 509 |
Amortization expense (Note 24) | 14,711 | 13,882 |
Impairment (Note 24) | 519 | 0 |
Ending balance | (65,323) | (53,834) |
Business solutions | Acquired | ||
Reconciliation of changes in intangible assets other than goodwill [abstract] | ||
Beginning balance | 5,910 | |
Ending balance | 5,486 | 5,910 |
Business solutions | Acquired | Cost | ||
Reconciliation of changes in intangible assets other than goodwill [abstract] | ||
Beginning balance | 78,641 | 76,278 |
Additions | 1,160 | 0 |
Additions - business acquisitions | 1,630 | 8,081 |
Disposals/retirements | (2,007) | (3,242) |
Foreign currency translation adjustment | (844) | (2,476) |
Ending balance | 78,580 | 78,641 |
Business solutions | Acquired | Accumulated amortization and impairment | ||
Reconciliation of changes in intangible assets other than goodwill [abstract] | ||
Beginning balance | (72,731) | (75,170) |
Disposals/retirements | 2,007 | 3,242 |
Foreign currency translation adjustment | 831 | 2,240 |
Amortization expense (Note 24) | 3,201 | 3,043 |
Impairment (Note 24) | 0 | 0 |
Ending balance | (73,094) | (72,731) |
Business solutions | Internally developed | ||
Reconciliation of changes in intangible assets other than goodwill [abstract] | ||
Beginning balance | 259,253 | |
Ending balance | 325,723 | 259,253 |
Business solutions | Internally developed | Cost | ||
Reconciliation of changes in intangible assets other than goodwill [abstract] | ||
Beginning balance | 624,850 | 571,015 |
Additions | 103,309 | 85,572 |
Additions - business acquisitions | 0 | 0 |
Disposals/retirements | (28,932) | (9,041) |
Foreign currency translation adjustment | 34,794 | (22,696) |
Ending balance | 734,021 | 624,850 |
Business solutions | Internally developed | Accumulated amortization and impairment | ||
Reconciliation of changes in intangible assets other than goodwill [abstract] | ||
Beginning balance | (365,597) | (338,122) |
Disposals/retirements | 28,932 | 9,041 |
Foreign currency translation adjustment | (20,582) | 12,044 |
Amortization expense (Note 24) | 48,211 | 44,439 |
Impairment (Note 24) | 2,840 | 4,121 |
Ending balance | (408,298) | (365,597) |
Software licenses | ||
Reconciliation of changes in intangible assets other than goodwill [abstract] | ||
Beginning balance | 43,173 | |
Ending balance | 42,961 | 43,173 |
Software licenses | Cost | ||
Reconciliation of changes in intangible assets other than goodwill [abstract] | ||
Beginning balance | 167,374 | 190,372 |
Additions | 22,015 | 21,086 |
Additions - business acquisitions | 303 | 0 |
Disposals/retirements | (23,020) | (39,656) |
Foreign currency translation adjustment | (3,694) | (4,428) |
Ending balance | 162,978 | 167,374 |
Software licenses | Accumulated amortization and impairment | ||
Reconciliation of changes in intangible assets other than goodwill [abstract] | ||
Beginning balance | (124,201) | (142,456) |
Disposals/retirements | 23,020 | 39,656 |
Foreign currency translation adjustment | 2,819 | 3,562 |
Amortization expense (Note 24) | 21,655 | 24,963 |
Impairment (Note 24) | 0 | 0 |
Ending balance | (120,017) | (124,201) |
Client relationships | ||
Reconciliation of changes in intangible assets other than goodwill [abstract] | ||
Beginning balance | 146,493 | |
Ending balance | 196,286 | 146,493 |
Client relationships | Cost | ||
Reconciliation of changes in intangible assets other than goodwill [abstract] | ||
Beginning balance | 1,154,620 | 1,187,862 |
Additions | 0 | 0 |
Additions - business acquisitions | 105,538 | 14,026 |
Disposals/retirements | 0 | 0 |
Foreign currency translation adjustment | (28,765) | (47,268) |
Ending balance | 1,231,393 | 1,154,620 |
Client relationships | Accumulated amortization and impairment | ||
Reconciliation of changes in intangible assets other than goodwill [abstract] | ||
Beginning balance | (1,008,127) | (1,012,339) |
Disposals/retirements | 0 | 0 |
Foreign currency translation adjustment | 20,234 | 42,282 |
Amortization expense (Note 24) | 47,214 | 38,070 |
Impairment (Note 24) | 0 | 0 |
Ending balance | $ (1,035,107) | $ (1,008,127) |
Other long-term assets (Details
Other long-term assets (Details) - CAD ($) $ in Thousands | Sep. 30, 2022 | Sep. 30, 2021 |
Subclassifications of assets, liabilities and equities [abstract] | ||
Prepaid long-term maintenance agreements | $ 28,720 | $ 32,019 |
Insurance contracts held to fund defined benefit pension and life assurance arrangements - reimbursement rights (Note 17) | 18,877 | 21,250 |
Retirement benefits assets (Note 17) | 47,071 | 106,228 |
Deposits | 22,595 | 15,641 |
Deferred financing fees | 2,827 | 2,533 |
Other | 19,576 | 13,841 |
Other long-term assets | $ 139,666 | $ 191,512 |
Long-term financial assets (Det
Long-term financial assets (Details) - CAD ($) $ in Thousands | Sep. 30, 2022 | Sep. 30, 2021 |
Subclassifications of assets, liabilities and equities [abstract] | ||
Deferred compensation plan assets (Notes 17 and 31) | $ 71,863 | $ 81,633 |
Long-term investments (Note 31) | 16,826 | 19,354 |
Long-term receivables | 10,590 | 18,093 |
Long-term derivative financial instruments (Note 31) | 237,877 | 33,578 |
Long-term financial assets | $ 337,156 | $ 152,658 |
Goodwill - Narrative (Details)
Goodwill - Narrative (Details) - segment | 6 Months Ended | 12 Months Ended |
Sep. 30, 2022 | Sep. 30, 2022 | |
Intangible assets and goodwill [abstract] | ||
Number of new operating segments | 2 | |
Number of operating segments | 9 |
Goodwill - Movements in goodwil
Goodwill - Movements in goodwill (Details) - Goodwill $ in Thousands | 12 Months Ended |
Sep. 30, 2022 CAD ($) | |
Reconciliation of changes in goodwill [abstract] | |
Beginning balance | $ 8,139,701 |
Business acquisitions | 630,848 |
Goodwill reallocation | 0 |
Foreign currency translation adjustment | (289,093) |
Ending balance | 8,481,456 |
Western and Southern Europe | |
Reconciliation of changes in goodwill [abstract] | |
Beginning balance | 1,022,350 |
Business acquisitions | 516,204 |
Goodwill reallocation | (3,236) |
Foreign currency translation adjustment | (95,299) |
Ending balance | 1,440,019 |
U.S. Commercial and State Government | |
Reconciliation of changes in goodwill [abstract] | |
Beginning balance | 1,169,772 |
Business acquisitions | 9,970 |
Goodwill reallocation | 0 |
Foreign currency translation adjustment | 98,434 |
Ending balance | 1,278,176 |
Canada | |
Reconciliation of changes in goodwill [abstract] | |
Beginning balance | 1,142,148 |
Business acquisitions | 0 |
Goodwill reallocation | 0 |
Foreign currency translation adjustment | 0 |
Ending balance | 1,142,148 |
U.S. Federal | |
Reconciliation of changes in goodwill [abstract] | |
Beginning balance | 947,782 |
Business acquisitions | 73,375 |
Goodwill reallocation | 0 |
Foreign currency translation adjustment | 87,110 |
Ending balance | 1,108,267 |
Scandinavia and Central Europe | |
Reconciliation of changes in goodwill [abstract] | |
Beginning balance | 1,140,573 |
Business acquisitions | 0 |
Goodwill reallocation | 367,907 |
Foreign currency translation adjustment | (163,134) |
Ending balance | 1,345,346 |
U.K. and Australia | |
Reconciliation of changes in goodwill [abstract] | |
Beginning balance | 895,921 |
Business acquisitions | 31,299 |
Goodwill reallocation | 0 |
Foreign currency translation adjustment | (92,260) |
Ending balance | 834,960 |
Finland, Poland and Baltics | |
Reconciliation of changes in goodwill [abstract] | |
Beginning balance | 619,990 |
Business acquisitions | 0 |
Goodwill reallocation | 0 |
Foreign currency translation adjustment | (52,362) |
Ending balance | 567,628 |
Northwest and Central-East Europe | |
Reconciliation of changes in goodwill [abstract] | |
Beginning balance | 931,361 |
Business acquisitions | 0 |
Goodwill reallocation | (364,671) |
Foreign currency translation adjustment | (65,383) |
Ending balance | 501,307 |
Asia Pacific | |
Reconciliation of changes in goodwill [abstract] | |
Beginning balance | 269,804 |
Business acquisitions | 0 |
Goodwill reallocation | 0 |
Foreign currency translation adjustment | (6,199) |
Ending balance | $ 263,605 |
Goodwill - Key assumptions for
Goodwill - Key assumptions for cash-generating units (Details) | Sep. 30, 2022 | Sep. 30, 2021 |
Maximum | ||
Disclosure of information for cash-generating units [line items] | ||
Long-term growth rate of net operating cash flows | 2% | 2% |
Western and Southern Europe | ||
Disclosure of information for cash-generating units [line items] | ||
Pre-tax WACC | 10% | 10% |
Long-term growth rate of net operating cash flows | 1.80% | 1.60% |
U.S. Commercial and State Government | ||
Disclosure of information for cash-generating units [line items] | ||
Pre-tax WACC | 10.60% | 8.50% |
Long-term growth rate of net operating cash flows | 2% | 2% |
Canada | ||
Disclosure of information for cash-generating units [line items] | ||
Pre-tax WACC | 10.70% | 9.10% |
Long-term growth rate of net operating cash flows | 2% | 2% |
U.S. Federal | ||
Disclosure of information for cash-generating units [line items] | ||
Pre-tax WACC | 9.20% | 8.10% |
Long-term growth rate of net operating cash flows | 2% | 2% |
Scandinavia and Central Europe | ||
Disclosure of information for cash-generating units [line items] | ||
Pre-tax WACC | 10.50% | |
Long-term growth rate of net operating cash flows | 2% | |
Scandinavia | ||
Disclosure of information for cash-generating units [line items] | ||
Pre-tax WACC | 9.30% | |
Long-term growth rate of net operating cash flows | 1.80% | |
U.K. and Australia | ||
Disclosure of information for cash-generating units [line items] | ||
Pre-tax WACC | 10.60% | 8.80% |
Long-term growth rate of net operating cash flows | 1.90% | 1.90% |
Finland, Poland and Baltics | ||
Disclosure of information for cash-generating units [line items] | ||
Pre-tax WACC | 10.70% | 9.50% |
Long-term growth rate of net operating cash flows | 2% | 1.70% |
Northwest and Central-East Europe | ||
Disclosure of information for cash-generating units [line items] | ||
Pre-tax WACC | 10.70% | |
Long-term growth rate of net operating cash flows | 1.90% | |
Central and Eastern Europe | ||
Disclosure of information for cash-generating units [line items] | ||
Pre-tax WACC | 9.40% | |
Long-term growth rate of net operating cash flows | 1.80% | |
Asia Pacific | ||
Disclosure of information for cash-generating units [line items] | ||
Pre-tax WACC | 19.20% | 18.50% |
Long-term growth rate of net operating cash flows | 2% | 2% |
Provisions (Details)
Provisions (Details) - CAD ($) $ in Thousands | 12 Months Ended | |
Sep. 30, 2022 | Sep. 30, 2021 | |
Reconciliation of changes in other provisions [abstract] | ||
Beginning balance | $ 90,125 | |
Additional provisions | 26,197 | |
Business acquisitions | 6,243 | |
Utilized amounts | (47,458) | |
Reversals of unused amounts | (20,209) | |
Discount rate adjustment and imputed interest | 168 | |
Foreign currency translation adjustment | (4,481) | |
Ending balance | 50,585 | |
Current portion | 33,103 | $ 63,549 |
Non-current portion | 17,482 | $ 26,576 |
Restructuring | ||
Reconciliation of changes in other provisions [abstract] | ||
Beginning balance | 19,648 | |
Additional provisions | 10,948 | |
Business acquisitions | 0 | |
Utilized amounts | (19,140) | |
Reversals of unused amounts | 0 | |
Discount rate adjustment and imputed interest | 0 | |
Foreign currency translation adjustment | (812) | |
Ending balance | 10,644 | |
Current portion | 10,561 | |
Non-current portion | 83 | |
Decommissioning liabilities | ||
Reconciliation of changes in other provisions [abstract] | ||
Beginning balance | 24,852 | |
Additional provisions | 1,374 | |
Business acquisitions | 1,935 | |
Utilized amounts | (1,222) | |
Reversals of unused amounts | (2,201) | |
Discount rate adjustment and imputed interest | 168 | |
Foreign currency translation adjustment | (1,976) | |
Ending balance | 22,930 | |
Current portion | 6,256 | |
Non-current portion | 16,674 | |
Provisons based on expected cash flows | $ 23,641 | |
Weighted average rate | 0.62% | |
Others | ||
Reconciliation of changes in other provisions [abstract] | ||
Beginning balance | $ 45,625 | |
Additional provisions | 13,875 | |
Business acquisitions | 4,308 | |
Utilized amounts | (27,096) | |
Reversals of unused amounts | (18,008) | |
Discount rate adjustment and imputed interest | 0 | |
Foreign currency translation adjustment | (1,693) | |
Ending balance | 17,011 | |
Current portion | 16,286 | |
Non-current portion | $ 725 | |
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 | 11 years |
Long-term debt - Long-term debt
Long-term debt - Long-term debt (Details) $ in Thousands | 1 Months Ended | 12 Months Ended | ||||
Dec. 31, 2021 CAD ($) | Dec. 31, 2021 USD ($) | Sep. 30, 2022 CAD ($) tranche payment | Sep. 30, 2022 USD ($) tranche payment | Sep. 30, 2021 CAD ($) | Sep. 30, 2022 USD ($) | |
Disclosure of detailed information about borrowings [line items] | ||||||
Borrowings | $ 3,267,034 | $ 3,401,656 | ||||
Current portion | 93,447 | 392,727 | ||||
Long-term debt | 3,173,587 | 3,008,929 | ||||
Repayments of borrowings | 401,654 | 1,888,777 | ||||
Settled cross-currency swap agreement | ||||||
Disclosure of detailed information about borrowings [line items] | ||||||
Notional amount | 69,300 | |||||
2011 U.S. Senior Notes | ||||||
Disclosure of detailed information about borrowings [line items] | ||||||
Notional amount | 319,663 | $ 250,000,000 | ||||
Borrowings | 0 | 318,009 | ||||
2011 U.S. Senior Notes | Remaining tranche | ||||||
Disclosure of detailed information about borrowings [line items] | ||||||
Repayments of borrowings | $ 250,000,000 | |||||
2011 U.S. Senior Notes | Remaining tranche | Settled interest rate swap agreement | ||||||
Disclosure of detailed information about borrowings [line items] | ||||||
Repayments of borrowings | $ 319,663 | |||||
2014 U.S. Senior Notes | ||||||
Disclosure of detailed information about borrowings [line items] | ||||||
Borrowings | $ 550,177 | $ 570,298 | ||||
Number of remaining yearly payments | payment | 2 | 2 | ||||
Borrowings, number of tranches | tranche | 2 | 2 | ||||
Borrowings, number of yearly payments | payment | 7 | 7 | ||||
2014 U.S. Senior Notes | Later than one year and not later than two years | ||||||
Disclosure of detailed information about borrowings [line items] | ||||||
Notional amount | $ 412,680 | $ 300,000,000 | ||||
2014 U.S. Senior Notes | Gross carrying amount | ||||||
Disclosure of detailed information about borrowings [line items] | ||||||
Notional amount | $ 550,240 | |||||
2014 U.S. Senior Notes | Weighted average | ||||||
Disclosure of detailed information about borrowings [line items] | ||||||
Borrowings, maturity term | 1 year 9 months 18 days | 1 year 9 months 18 days | ||||
Borrowings, interest rate | 3.98% | 3.95% | 3.98% | |||
2014 U.S. Senior Notes | Remaining total tranches | ||||||
Disclosure of detailed information about borrowings [line items] | ||||||
Notional amount | $ 137,560 | $ 100,000,000 | ||||
2014 U.S. Senior Notes | Tranche six | Less than one year | ||||||
Disclosure of detailed information about borrowings [line items] | ||||||
Notional amount | 50,000 | |||||
2014 U.S. Senior Notes | Tranche seven | Later than one year and not later than two years | ||||||
Disclosure of detailed information about borrowings [line items] | ||||||
Notional amount | 50,000 | |||||
2014 U.S. Senior Notes | Tranche five | ||||||
Disclosure of detailed information about borrowings [line items] | ||||||
Repayments of borrowings | $ 50,000,000 | |||||
2014 U.S. Senior Notes | Tranche five | Settled cross-currency swap agreement | ||||||
Disclosure of detailed information about borrowings [line items] | ||||||
Repayments of borrowings | 64,880 | |||||
2021 U.S. Senior Notes | ||||||
Disclosure of detailed information about borrowings [line items] | ||||||
Notional amount | 1,000,000,000 | |||||
Borrowings | $ 1,361,974 | $ 1,253,226 | ||||
Borrowings, number of tranches | tranche | 2 | 2 | ||||
2021 U.S. Senior Notes | Later than three years and not later than four years | ||||||
Disclosure of detailed information about borrowings [line items] | ||||||
Notional amount | $ 825,360 | 600,000,000 | ||||
2021 U.S. Senior Notes | Beyond five years | ||||||
Disclosure of detailed information about borrowings [line items] | ||||||
Notional amount | 550,240 | $ 400,000,000 | ||||
2021 U.S. Senior Notes | Gross carrying amount | ||||||
Disclosure of detailed information about borrowings [line items] | ||||||
Notional amount | $ 1,375,600 | |||||
2021 U.S. Senior Notes | Weighted average | ||||||
Disclosure of detailed information about borrowings [line items] | ||||||
Borrowings, maturity term | 6 years | 6 years | ||||
Borrowings, interest rate | 1.79% | 1.79% | ||||
2021 CAD Senior Notes | ||||||
Disclosure of detailed information about borrowings [line items] | ||||||
Borrowings | $ 595,900 | 595,331 | ||||
Borrowings, interest rate | 2.10% | 2.10% | ||||
2021 CAD Senior Notes | Beyond five years | ||||||
Disclosure of detailed information about borrowings [line items] | ||||||
Notional amount | $ 600,000,000 | |||||
2021 CAD Senior Notes | Gross carrying amount | ||||||
Disclosure of detailed information about borrowings [line items] | ||||||
Notional amount | $ 600,000 | |||||
Unsecured committed term loan credit facility | ||||||
Disclosure of detailed information about borrowings [line items] | ||||||
Borrowings | 687,705 | 633,623 | ||||
Unsecured committed term loan credit facility | Gross carrying amount | ||||||
Disclosure of detailed information about borrowings [line items] | ||||||
Notional amount | $ 687,800 | |||||
Unsecured committed term loan credit facility | LIBOR | Weighted average | ||||||
Disclosure of detailed information about borrowings [line items] | ||||||
Borrowings, interest rate | 4% | 4% | ||||
Other long-term debt | ||||||
Disclosure of detailed information about borrowings [line items] | ||||||
Borrowings | $ 71,278 | $ 31,169 |
Long-term debt - Narrative (Det
Long-term debt - Narrative (Details) - CAD ($) | Nov. 01, 2022 | Sep. 30, 2022 | Sep. 30, 2021 |
Disclosure of detailed information about borrowings [line items] | |||
Borrowings | $ 3,267,034,000 | $ 3,401,656,000 | |
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 | $ 4,270,000 | ||
Borrowings, extension period | 1 year |
Other long-term liabilities (De
Other long-term liabilities (Details) - CAD ($) $ in Thousands | Sep. 30, 2022 | Sep. 30, 2021 |
Subclassifications of assets, liabilities and equities [abstract] | ||
Deferred revenue | $ 90,371 | $ 59,349 |
Deferred compensation plan liabilities | 81,452 | 91,943 |
Other | 20,285 | 51,370 |
Other long-term liabilities | $ 192,108 | 202,662 |
Deferral of the employer side of social security payments under the CARES Act | $ 33,686 |
Income taxes - Disclosure of in
Income taxes - Disclosure of income tax expense (Details) - CAD ($) $ in Thousands | 12 Months Ended | |
Sep. 30, 2022 | Sep. 30, 2021 | |
Current income tax expense | ||
Current income tax expense in respect of the current year | $ 506,608 | $ 475,833 |
Adjustments recognized in the current year in relation to the income tax expense of prior years | 1,705 | 19,021 |
Total current income tax expense | 508,313 | 494,854 |
Deferred income tax recovery | ||
Deferred income tax expense (recovery) relating to the origination and reversal of temporary differences | 359 | (6,165) |
Deferred income tax recovery relating to changes in tax rates | 0 | (460) |
Adjustments recognized in the current year in relation to the deferred income tax recovery of prior years | (7,855) | (19,309) |
Total deferred income tax recovery | (7,496) | (25,934) |
Total income tax expense | $ 500,817 | $ 468,920 |
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, 2022 | Sep. 30, 2021 | |
Income Taxes [Abstract] | ||
Company's statutory tax rate | 26.50% | 26.50% |
Effect of foreign tax rate differences | (1.00%) | (1.00%) |
Final determination from agreements with tax authorities and expirations of statutes of limitations | (0.40%) | 0.20% |
Non-deductible and tax exempt items | 0% | (0.40%) |
Recognition of previously unrecognized temporary differences | 0% | (0.20%) |
Minimum income tax charge | 0.40% | 0.40% |
Effective income tax rate | 25.50% | 25.50% |
Income taxes - Disclosure of th
Income taxes - Disclosure of the continuity of deferred tax balances (Details) - CAD ($) $ in Thousands | 12 Months Ended | |
Sep. 30, 2022 | Sep. 30, 2021 | |
Reconciliation of changes in deferred tax liability (asset) [abstract] | ||
Beginning balance | $ (35,680) | $ (44,857) |
Additions from business acquisitions | (15,954) | (1,678) |
Recognized in earnings | 7,496 | 25,934 |
Recognized in other comprehensive income | (8,358) | (20,619) |
Recognized in equity | (7,194) | 6,137 |
Foreign currency translation adjustment and other | (11,921) | (597) |
Ending balance | (71,611) | (35,680) |
Accounts payable and accrued liabilities, provisions and other long-term liabilities | ||
Reconciliation of changes in deferred tax liability (asset) [abstract] | ||
Beginning balance | 51,156 | 64,208 |
Additions from business acquisitions | 6,986 | (2,427) |
Recognized in earnings | (20,232) | (7,553) |
Recognized in other comprehensive income | 0 | (1) |
Recognized in equity | 0 | 0 |
Foreign currency translation adjustment and other | 2,304 | (3,071) |
Ending balance | 40,214 | 51,156 |
Tax benefits on losses carried forward | ||
Reconciliation of changes in deferred tax liability (asset) [abstract] | ||
Beginning balance | 43,181 | 46,228 |
Additions from business acquisitions | 1,489 | 4,654 |
Recognized in earnings | 9,450 | (6,284) |
Recognized in other comprehensive income | 0 | 0 |
Recognized in equity | 0 | 0 |
Foreign currency translation adjustment and other | (2,157) | (1,417) |
Ending balance | 51,963 | 43,181 |
Accrued compensation and employee-related liabilities | ||
Reconciliation of changes in deferred tax liability (asset) [abstract] | ||
Beginning balance | 40,108 | 27,420 |
Additions from business acquisitions | 141 | 0 |
Recognized in earnings | 17,724 | 7,811 |
Recognized in other comprehensive income | 0 | 0 |
Recognized in equity | (7,194) | 6,137 |
Foreign currency translation adjustment and other | 357 | (1,260) |
Ending balance | 51,136 | 40,108 |
Retirement benefits obligations | ||
Reconciliation of changes in deferred tax liability (asset) [abstract] | ||
Beginning balance | 17,561 | 23,166 |
Additions from business acquisitions | 2,425 | 0 |
Recognized in earnings | (2,082) | 2,573 |
Recognized in other comprehensive income | 1,011 | (5,919) |
Recognized in equity | 0 | 0 |
Foreign currency translation adjustment and other | 602 | (2,259) |
Ending balance | 19,517 | 17,561 |
Lease liabilities | ||
Reconciliation of changes in deferred tax liability (asset) [abstract] | ||
Beginning balance | 179,318 | 222,997 |
Additions from business acquisitions | 1,577 | 0 |
Recognized in earnings | 252 | (36,103) |
Recognized in other comprehensive income | 0 | 0 |
Recognized in equity | 0 | 0 |
Foreign currency translation adjustment and other | (10,075) | (7,576) |
Ending balance | 171,072 | 179,318 |
PP&E, contract costs, intangible assets and other long-term assets | ||
Reconciliation of changes in deferred tax liability (asset) [abstract] | ||
Beginning balance | (121,309) | (136,460) |
Additions from business acquisitions | (27,347) | (3,905) |
Recognized in earnings | 5,912 | 14,280 |
Recognized in other comprehensive income | 0 | 0 |
Recognized in equity | 0 | 0 |
Foreign currency translation adjustment and other | (8,310) | 4,776 |
Ending balance | (151,054) | (121,309) |
Right-of-use assets | ||
Reconciliation of changes in deferred tax liability (asset) [abstract] | ||
Beginning balance | (134,808) | (171,835) |
Additions from business acquisitions | (1,405) | 0 |
Recognized in earnings | (6,179) | 31,255 |
Recognized in other comprehensive income | 0 | 0 |
Recognized in equity | 0 | 0 |
Foreign currency translation adjustment and other | 9,635 | 5,772 |
Ending balance | (132,757) | (134,808) |
Work in progress | ||
Reconciliation of changes in deferred tax liability (asset) [abstract] | ||
Beginning balance | (22,190) | (34,277) |
Additions from business acquisitions | 0 | 0 |
Recognized in earnings | 9,018 | 11,139 |
Recognized in other comprehensive income | 0 | 0 |
Recognized in equity | 0 | 0 |
Foreign currency translation adjustment and other | 344 | 948 |
Ending balance | (12,828) | (22,190) |
Goodwill | ||
Reconciliation of changes in deferred tax liability (asset) [abstract] | ||
Beginning balance | (70,845) | (64,209) |
Additions from business acquisitions | 0 | 0 |
Recognized in earnings | (5,619) | (10,493) |
Recognized in other comprehensive income | 0 | 0 |
Recognized in equity | 0 | 0 |
Foreign currency translation adjustment and other | (5,153) | 3,857 |
Ending balance | (81,617) | (70,845) |
Refundable tax credits on salaries | ||
Reconciliation of changes in deferred tax liability (asset) [abstract] | ||
Beginning balance | (19,673) | (22,724) |
Additions from business acquisitions | 0 | 0 |
Recognized in earnings | (376) | 3,051 |
Recognized in other comprehensive income | 0 | 0 |
Recognized in equity | 0 | 0 |
Foreign currency translation adjustment and other | 0 | 0 |
Ending balance | (20,049) | (19,673) |
Cash flow hedges | ||
Reconciliation of changes in deferred tax liability (asset) [abstract] | ||
Beginning balance | (5,626) | (475) |
Additions from business acquisitions | 0 | 0 |
Recognized in earnings | 4,333 | 675 |
Recognized in other comprehensive income | (9,146) | (6,157) |
Recognized in equity | 0 | 0 |
Foreign currency translation adjustment and other | 41 | 331 |
Ending balance | (10,398) | (5,626) |
Other | ||
Reconciliation of changes in deferred tax liability (asset) [abstract] | ||
Beginning balance | 7,447 | 1,104 |
Additions from business acquisitions | 180 | 0 |
Recognized in earnings | (4,705) | 15,583 |
Recognized in other comprehensive income | (223) | (8,542) |
Recognized in equity | 0 | 0 |
Foreign currency translation adjustment and other | 491 | (698) |
Ending balance | $ 3,190 | $ 7,447 |
Income taxes - Disclosure of de
Income taxes - Disclosure of deferred tax balances (Details) - CAD ($) $ in Thousands | Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2020 |
Income Taxes [Abstract] | |||
Deferred tax assets | $ 85,795 | $ 96,358 | |
Deferred tax liabilities | (157,406) | (132,038) | |
Deferred tax assets (liabilities) | $ (71,611) | $ (35,680) | $ (44,857) |
Income taxes - Narrative (Detai
Income taxes - Narrative (Details) - CAD ($) | Sep. 30, 2022 | Sep. 30, 2021 |
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Net deferred tax asset | $ 46,893,000 | $ 38,371,000 |
Cash and cash equivalents | 966,458,000 | 1,699,206,000 |
Operating tax losses carried forward | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Tax losses carried forward | 258,244,000 | 225,002,000 |
Deferred tax asset is recognised from loss | 179,329,000 | 162,693,000 |
Non-operating tax losses carried forward | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Tax losses carried forward | 421,218,000 | 469,097,000 |
Net deferred tax asset | 5,070,000 | 4,810,000 |
Deferred tax asset is recognised from loss | 20,295,000 | 20,534,000 |
Unrecognized losses | 400,923,000 | 448,563,000 |
Expiring at various dates up to 2042 | Operating tax losses carried forward | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Tax losses carried forward | 110,918,000 | 82,548,000 |
Unrecognized losses | 12,450,000 | 25,325,000 |
No expiry dates | Operating tax losses carried forward | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Tax losses carried forward | 147,326,000 | 142,454,000 |
Unrecognized losses | 66,466,000 | 36,984,000 |
Foreign countries | Subsidiaries | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Cash and cash equivalents | 907,577,702 | 1,420,634,000 |
Undistributed earnings from foreign subsidiaries for which deferred tax liabilities have not been recorded | $ 7,100,148,000 | $ 6,290,351,000 |
Employee benefits - Narrative (
Employee benefits - Narrative (Details) $ in Thousands | 12 Months Ended | |
Sep. 30, 2022 CAD ($) plan | Sep. 30, 2021 CAD ($) | |
Disclosure of defined benefit plans [line items] | ||
Surplus in plan | $ (107,974) | $ (98,260) |
Administration expenses paid from the plan | 1,575 | 1,408 |
Current service cost | 13,053 | 15,878 |
Annual contributions | 7,257 | |
Pension cost for defined contribution plans | 226,079 | 224,010 |
Deferred compensation plan liabilities | 81,452 | 91,943 |
Deferred compensation plan assets (Notes 17 and 31) | $ 71,863 | 81,633 |
U.K. | ||
Disclosure of defined benefit plans [line items] | ||
Number of defined benefit pension plans | plan | 3 | |
Surplus in plan | $ 46,647 | 105,351 |
Annual contributions | 329 | |
Other | ||
Disclosure of defined benefit plans [line items] | ||
Surplus in plan | (26,752) | (45,119) |
Annual contributions | 6,928 | |
UNITED STATES | ||
Disclosure of defined benefit plans [line items] | ||
Deferred compensation plan assets (Notes 17 and 31) | $ 71,863 | 81,245 |
CMG U.K. Pension Scheme | U.K. | ||
Disclosure of defined benefit plans [line items] | ||
Equity investments, target allocation percentage of plan assets | 45% | |
Surplus in plan | $ 34,707 | |
Administration expenses paid from the plan | $ 693 | |
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% | |
Bond investments, target allocation percentage of plan assets | 85% | |
Surplus in plan | $ 85 | |
Current service cost | $ 314 | |
Logica Defined Benefit Pension Plan | U.K. | ||
Disclosure of defined benefit plans [line items] | ||
Equity investments, target allocation percentage of plan assets | 15% | |
Bond investments, target allocation percentage of plan assets | 85% | |
Surplus in plan | $ 17,819 | |
Alecta multi-employer plan | ||
Disclosure of defined benefit plans [line items] | ||
Annual contributions | 20,131 | |
Pension cost for defined contribution plans | $ 29,539 | $ 31,807 |
Proportion of total contributions to the plan | 0.48% | |
Proportion of total number of active members in the plan | 0.47% | |
Collective funding solvency percentage | 189% | 169% |
Alecta multi-employer plan | Minimum | ||
Disclosure of defined benefit plans [line items] | ||
Collective funding solvency allowed | 125% | |
Alecta multi-employer plan | Maximum | ||
Disclosure of defined benefit plans [line items] | ||
Collective funding solvency allowed | 175% |
Employee benefits - Post-employ
Employee benefits - Post-employment benefits plan (Details) - CAD ($) $ in Thousands | Sep. 30, 2022 | Sep. 30, 2021 |
Disclosure of defined benefit plans [line items] | ||
Defined benefit obligations | $ (724,527) | $ (1,134,554) |
Fair value of plan assets | 616,553 | 1,036,294 |
Surplus (deficit) in plan | (107,974) | (98,260) |
Fair value of reimbursement rights | 18,877 | 21,250 |
Net asset (liability) recognized in the balance sheet | (89,097) | (77,010) |
Retirement benefits assets | 47,071 | 106,228 |
Retirement benefits obligations | (155,045) | (204,488) |
U.K. | ||
Disclosure of defined benefit plans [line items] | ||
Defined benefit obligations | (525,262) | (881,008) |
Fair value of plan assets | 571,909 | 986,359 |
Surplus (deficit) in plan | 46,647 | 105,351 |
Fair value of reimbursement rights | 0 | 0 |
Net asset (liability) recognized in the balance sheet | 46,647 | 105,351 |
Retirement benefits assets | 46,647 | 105,351 |
Retirement benefits obligations | 0 | 0 |
France | ||
Disclosure of defined benefit plans [line items] | ||
Defined benefit obligations | (77,477) | (77,006) |
Fair value of plan assets | 0 | 661 |
Surplus (deficit) in plan | (77,477) | (76,345) |
Fair value of reimbursement rights | 0 | 0 |
Net asset (liability) recognized in the balance sheet | (77,477) | (76,345) |
Retirement benefits assets | 0 | 0 |
Retirement benefits obligations | (77,477) | (76,345) |
Germany | ||
Disclosure of defined benefit plans [line items] | ||
Defined benefit obligations | (61,420) | (94,381) |
Fair value of plan assets | 11,028 | 12,234 |
Surplus (deficit) in plan | (50,392) | (82,147) |
Fair value of reimbursement rights | 18,495 | 20,823 |
Net asset (liability) recognized in the balance sheet | (31,897) | (61,324) |
Retirement benefits assets | 0 | 0 |
Retirement benefits obligations | (50,392) | (82,147) |
Other | ||
Disclosure of defined benefit plans [line items] | ||
Defined benefit obligations | (60,368) | (82,159) |
Fair value of plan assets | 33,616 | 37,040 |
Surplus (deficit) in plan | (26,752) | (45,119) |
Fair value of reimbursement rights | 382 | 427 |
Net asset (liability) recognized in the balance sheet | (26,370) | (44,692) |
Retirement benefits assets | 424 | 877 |
Retirement benefits obligations | $ (27,176) | $ (45,996) |
Employee benefits - Defined ben
Employee benefits - Defined benefit obligations (Details) - CAD ($) $ in Thousands | 12 Months Ended | |
Sep. 30, 2022 | Sep. 30, 2021 | |
Disclosure of net defined benefit liability (asset) [line items] | ||
Defined benefit liability (asset), beginning balance | $ 77,010 | |
Current service cost | 13,053 | $ 15,878 |
Interest cost | 51 | 1,005 |
Past service cost | 0 | 346 |
Defined benefit liability (asset), ending balance | 89,097 | 77,010 |
U.K. | ||
Disclosure of net defined benefit liability (asset) [line items] | ||
Defined benefit liability (asset), beginning balance | (105,351) | |
Defined benefit liability (asset), ending balance | (46,647) | (105,351) |
France | ||
Disclosure of net defined benefit liability (asset) [line items] | ||
Defined benefit liability (asset), beginning balance | 76,345 | |
Defined benefit liability (asset), ending balance | 77,477 | 76,345 |
Germany | ||
Disclosure of net defined benefit liability (asset) [line items] | ||
Defined benefit liability (asset), beginning balance | 61,324 | |
Defined benefit liability (asset), ending balance | 31,897 | 61,324 |
Other | ||
Disclosure of net defined benefit liability (asset) [line items] | ||
Defined benefit liability (asset), beginning balance | 44,692 | |
Defined benefit liability (asset), ending balance | 26,370 | 44,692 |
Present value of defined benefit obligation | ||
Disclosure of net defined benefit liability (asset) [line items] | ||
Defined benefit liability (asset), beginning balance | 1,134,554 | 1,163,744 |
Current service cost | 13,053 | 15,878 |
Interest cost | 21,133 | 17,528 |
Business acquisitions | 10,192 | |
Past service cost | 346 | |
Actuarial losses (gains) due to change in financial assumptions | (342,078) | 16,474 |
Actuarial losses (gains) due to change in demographic assumptions | 8,283 | |
Actuarial (gains) losses due to experience | 22,255 | (13,530) |
Plan participant contributions | 80 | 92 |
Benefits paid from the plan | (31,708) | (34,510) |
Benefits paid directly by employer | (5,032) | (7,688) |
Foreign currency translation adjustment | (94,211) | (23,780) |
Other | (11,994) | |
Defined benefit liability (asset), ending balance | 724,527 | 1,134,554 |
Present value of defined benefit obligation | Unfunded Plans | ||
Disclosure of net defined benefit liability (asset) [line items] | ||
Defined benefit liability (asset), beginning balance | 117,497 | |
Defined benefit liability (asset), ending balance | 96,306 | 117,497 |
Present value of defined benefit obligation | Funded Plans | ||
Disclosure of net defined benefit liability (asset) [line items] | ||
Defined benefit liability (asset), beginning balance | 1,017,057 | |
Defined benefit liability (asset), ending balance | 628,221 | 1,017,057 |
Present value of defined benefit obligation | U.K. | ||
Disclosure of net defined benefit liability (asset) [line items] | ||
Defined benefit liability (asset), beginning balance | 881,008 | 891,628 |
Current service cost | 1,114 | 1,114 |
Interest cost | 16,877 | 13,490 |
Business acquisitions | 0 | |
Past service cost | 346 | |
Actuarial losses (gains) due to change in financial assumptions | (285,653) | 21,722 |
Actuarial losses (gains) due to change in demographic assumptions | 7,882 | |
Actuarial (gains) losses due to experience | 4,081 | (9,994) |
Plan participant contributions | 80 | 92 |
Benefits paid from the plan | (24,018) | (29,936) |
Benefits paid directly by employer | 0 | 0 |
Foreign currency translation adjustment | (76,109) | (7,454) |
Other | 0 | |
Defined benefit liability (asset), ending balance | 525,262 | 881,008 |
Present value of defined benefit obligation | 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 |
Present value of defined benefit obligation | U.K. | Funded Plans | ||
Disclosure of net defined benefit liability (asset) [line items] | ||
Defined benefit liability (asset), beginning balance | 881,008 | |
Defined benefit liability (asset), ending balance | 525,262 | 881,008 |
Present value of defined benefit obligation | France | ||
Disclosure of net defined benefit liability (asset) [line items] | ||
Defined benefit liability (asset), beginning balance | 77,006 | 84,442 |
Current service cost | 5,673 | 6,004 |
Interest cost | 740 | 529 |
Business acquisitions | 10,192 | |
Past service cost | 0 | |
Actuarial losses (gains) due to change in financial assumptions | (20,586) | (2,922) |
Actuarial losses (gains) due to change in demographic assumptions | 921 | |
Actuarial (gains) losses due to experience | 12,112 | (3,498) |
Plan participant contributions | 0 | 0 |
Benefits paid from the plan | (622) | 0 |
Benefits paid directly by employer | (1,318) | (2,492) |
Foreign currency translation adjustment | (6,641) | (5,057) |
Other | 0 | |
Defined benefit liability (asset), ending balance | 77,477 | 77,006 |
Present value of defined benefit obligation | France | Unfunded Plans | ||
Disclosure of net defined benefit liability (asset) [line items] | ||
Defined benefit liability (asset), beginning balance | 77,006 | |
Defined benefit liability (asset), ending balance | 77,477 | 77,006 |
Present value of defined benefit obligation | 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 |
Present value of defined benefit obligation | Germany | ||
Disclosure of net defined benefit liability (asset) [line items] | ||
Defined benefit liability (asset), beginning balance | 94,381 | 104,090 |
Current service cost | 531 | 665 |
Interest cost | 768 | 642 |
Business acquisitions | 0 | |
Past service cost | 0 | |
Actuarial losses (gains) due to change in financial assumptions | (25,735) | (1,201) |
Actuarial losses (gains) due to change in demographic assumptions | 0 | |
Actuarial (gains) losses due to experience | 2,214 | 521 |
Plan participant contributions | 0 | 0 |
Benefits paid from the plan | (647) | (1,053) |
Benefits paid directly by employer | (2,848) | (2,954) |
Foreign currency translation adjustment | (7,244) | (6,329) |
Other | 0 | |
Defined benefit liability (asset), ending balance | 61,420 | 94,381 |
Present value of defined benefit obligation | 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 |
Present value of defined benefit obligation | Germany | Funded Plans | ||
Disclosure of net defined benefit liability (asset) [line items] | ||
Defined benefit liability (asset), beginning balance | 94,381 | |
Defined benefit liability (asset), ending balance | 61,420 | 94,381 |
Present value of defined benefit obligation | Other | ||
Disclosure of net defined benefit liability (asset) [line items] | ||
Defined benefit liability (asset), beginning balance | 82,159 | 83,584 |
Current service cost | 5,735 | 8,095 |
Interest cost | 2,748 | 2,867 |
Business acquisitions | 0 | |
Past service cost | 0 | |
Actuarial losses (gains) due to change in financial assumptions | (10,104) | (1,125) |
Actuarial losses (gains) due to change in demographic assumptions | (520) | |
Actuarial (gains) losses due to experience | 3,848 | (559) |
Plan participant contributions | 0 | 0 |
Benefits paid from the plan | (6,421) | (3,521) |
Benefits paid directly by employer | (866) | (2,242) |
Foreign currency translation adjustment | (4,217) | (4,940) |
Other | (11,994) | |
Defined benefit liability (asset), ending balance | 60,368 | 82,159 |
Present value of defined benefit obligation | Other | Unfunded Plans | ||
Disclosure of net defined benefit liability (asset) [line items] | ||
Defined benefit liability (asset), beginning balance | 40,491 | |
Defined benefit liability (asset), ending balance | 18,829 | 40,491 |
Present value of defined benefit obligation | Other | Funded Plans | ||
Disclosure of net defined benefit liability (asset) [line items] | ||
Defined benefit liability (asset), beginning balance | 41,668 | |
Defined benefit liability (asset), ending balance | $ 41,539 | $ 41,668 |
Employee benefits - Plan assets
Employee benefits - Plan assets and reimbursement rights (Details) - CAD ($) $ in Thousands | 12 Months Ended | |
Sep. 30, 2022 | Sep. 30, 2021 | |
Disclosure of net defined benefit liability (asset) [line items] | ||
Defined benefit liability (asset), beginning balance | $ (77,010) | |
Interest income on plan assets | 51 | $ 1,005 |
Administration expenses paid from the plan | 1,575 | 1,408 |
Defined benefit liability (asset), ending balance | (89,097) | (77,010) |
Plan assets | 616,553 | 1,036,294 |
Reimbursement rights | 18,877 | 21,250 |
Plan assets | ||
Disclosure of net defined benefit liability (asset) [line items] | ||
Defined benefit liability (asset), beginning balance | 1,057,544 | 1,048,457 |
Interest income on plan assets | 21,082 | 16,523 |
Employer contributions | 9,412 | 15,243 |
Return on assets excluding interest income | (326,053) | 34,479 |
Plan participant contributions | 473 | 485 |
Benefits paid from the plan | (31,708) | (34,510) |
Benefits paid directly by employer | (5,032) | (7,688) |
Administration expenses paid from the plan | (1,575) | (1,408) |
Foreign currency translation adjustment | (88,713) | (14,037) |
Defined benefit liability (asset), ending balance | 635,430 | 1,057,544 |
Plan assets | 616,553 | 1,036,294 |
Reimbursement rights | 18,877 | 21,250 |
U.K. | ||
Disclosure of net defined benefit liability (asset) [line items] | ||
Defined benefit liability (asset), beginning balance | 105,351 | |
Defined benefit liability (asset), ending balance | 46,647 | 105,351 |
Plan assets | 571,909 | 986,359 |
Reimbursement rights | 0 | 0 |
U.K. | Plan assets | ||
Disclosure of net defined benefit liability (asset) [line items] | ||
Defined benefit liability (asset), beginning balance | 986,359 | 977,137 |
Interest income on plan assets | 18,901 | 14,795 |
Employer contributions | 1,007 | 1,640 |
Return on assets excluding interest income | (324,003) | 32,252 |
Plan participant contributions | 80 | 92 |
Benefits paid from the plan | (24,018) | (29,936) |
Benefits paid directly by employer | 0 | 0 |
Administration expenses paid from the plan | (1,568) | (1,400) |
Foreign currency translation adjustment | (84,849) | (8,221) |
Defined benefit liability (asset), ending balance | 571,909 | 986,359 |
Plan assets | 571,909 | 986,359 |
Reimbursement rights | 0 | 0 |
France | ||
Disclosure of net defined benefit liability (asset) [line items] | ||
Defined benefit liability (asset), beginning balance | (76,345) | |
Defined benefit liability (asset), ending balance | (77,477) | (76,345) |
Plan assets | 0 | 661 |
Reimbursement rights | 0 | 0 |
France | Plan assets | ||
Disclosure of net defined benefit liability (asset) [line items] | ||
Defined benefit liability (asset), beginning balance | 661 | 692 |
Interest income on plan assets | 0 | 5 |
Employer contributions | 1,318 | 2,492 |
Return on assets excluding interest income | 0 | 7 |
Plan participant contributions | 0 | 0 |
Benefits paid from the plan | (622) | 0 |
Benefits paid directly by employer | (1,318) | (2,492) |
Administration expenses paid from the plan | 0 | 0 |
Foreign currency translation adjustment | (39) | (43) |
Defined benefit liability (asset), ending balance | 0 | 661 |
Plan assets | 0 | 661 |
Reimbursement rights | 0 | 0 |
Germany | ||
Disclosure of net defined benefit liability (asset) [line items] | ||
Defined benefit liability (asset), beginning balance | (61,324) | |
Defined benefit liability (asset), ending balance | (31,897) | (61,324) |
Plan assets | 11,028 | 12,234 |
Reimbursement rights | 18,495 | 20,823 |
Germany | Plan assets | ||
Disclosure of net defined benefit liability (asset) [line items] | ||
Defined benefit liability (asset), beginning balance | 33,057 | 35,271 |
Interest income on plan assets | 274 | 216 |
Employer contributions | 2,638 | 3,462 |
Return on assets excluding interest income | (214) | 384 |
Plan participant contributions | 0 | 0 |
Benefits paid from the plan | (647) | (1,053) |
Benefits paid directly by employer | (2,848) | (2,954) |
Administration expenses paid from the plan | 0 | 0 |
Foreign currency translation adjustment | (2,737) | (2,269) |
Defined benefit liability (asset), ending balance | 29,523 | 33,057 |
Plan assets | 11,028 | 12,234 |
Reimbursement rights | 18,495 | 20,823 |
Other | ||
Disclosure of net defined benefit liability (asset) [line items] | ||
Defined benefit liability (asset), beginning balance | (44,692) | |
Defined benefit liability (asset), ending balance | (26,370) | (44,692) |
Plan assets | 33,616 | 37,040 |
Reimbursement rights | 382 | 427 |
Other | Plan assets | ||
Disclosure of net defined benefit liability (asset) [line items] | ||
Defined benefit liability (asset), beginning balance | 37,467 | 35,357 |
Interest income on plan assets | 1,907 | 1,507 |
Employer contributions | 4,449 | 7,649 |
Return on assets excluding interest income | (1,836) | 1,836 |
Plan participant contributions | 393 | 393 |
Benefits paid from the plan | (6,421) | (3,521) |
Benefits paid directly by employer | (866) | (2,242) |
Administration expenses paid from the plan | (7) | (8) |
Foreign currency translation adjustment | (1,088) | (3,504) |
Defined benefit liability (asset), ending balance | 33,998 | 37,467 |
Plan assets | 33,616 | 37,040 |
Reimbursement rights | $ 382 | $ 427 |
Employee benefits - Fair value
Employee benefits - Fair value of plan assets (Details) - CAD ($) $ in Thousands | Sep. 30, 2022 | Sep. 30, 2021 |
Disclosure of fair value of plan assets [line items] | ||
Quoted equities | $ 196,611 | $ 426,066 |
Quoted bonds | 102,658 | 109,787 |
Cash | 143,377 | 37,038 |
Other | 173,907 | 463,403 |
Plan assets | 616,553 | 1,036,294 |
U.K. | ||
Disclosure of fair value of plan assets [line items] | ||
Quoted equities | 196,611 | 426,066 |
Quoted bonds | 102,658 | 109,787 |
Cash | 143,312 | 36,974 |
Other | 129,328 | 413,532 |
Plan assets | 571,909 | 986,359 |
France | ||
Disclosure of fair value of plan assets [line items] | ||
Quoted equities | 0 | 0 |
Quoted bonds | 0 | 0 |
Cash | 0 | 0 |
Other | 0 | 661 |
Plan assets | 0 | 661 |
Germany | ||
Disclosure of fair value of plan assets [line items] | ||
Quoted equities | 0 | 0 |
Quoted bonds | 0 | 0 |
Cash | 0 | 0 |
Other | 11,028 | 12,234 |
Plan assets | 11,028 | 12,234 |
Other | ||
Disclosure of fair value of plan assets [line items] | ||
Quoted equities | 0 | 0 |
Quoted bonds | 0 | 0 |
Cash | 65 | 64 |
Other | 33,551 | 36,976 |
Plan assets | $ 33,616 | $ 37,040 |
Employee benefits - Defined b_2
Employee benefits - Defined benefit plan expense (Details) - CAD ($) $ in Thousands | 12 Months Ended | |
Sep. 30, 2022 | Sep. 30, 2021 | |
Disclosure of defined benefit plans [line items] | ||
Current service cost | $ 13,053 | $ 15,878 |
Past service cost | 0 | 346 |
Net interest on net defined benefit obligations or assets | 51 | 1,005 |
Administration expenses | 1,575 | 1,408 |
Defined benefit plan expenses | 14,679 | 18,637 |
Costs of services, selling and administrative | ||
Disclosure of defined benefit plans [line items] | ||
Defined benefit plan expenses | 13,053 | 16,224 |
Net finance costs | ||
Disclosure of defined benefit plans [line items] | ||
Defined benefit plan expenses | $ 1,626 | $ 2,413 |
Employee benefits - Principal a
Employee benefits - Principal actuarial assumptions regarding defined benefit plans (Details) - year | Sep. 30, 2022 | Sep. 30, 2021 |
U.K. | ||
Disclosure of defined benefit plans [line items] | ||
Discount rate | 4.95% | 2.03% |
Future salary increases | 0.35% | 0.35% |
Future pension increases | 3.30% | 3.38% |
Inflation rate | 3.60% | 3.45% |
Longevity at age 65 for current members, Males | 22 | 21.9 |
Longevity at age 65 for current members, Females | 23.8 | 23.8 |
Longevity at age 45 for current members, Males | 23.3 | 23.3 |
Longevity at age 45 for current members, Females | 25.3 | 25.4 |
France | ||
Disclosure of defined benefit plans [line items] | ||
Discount rate | 3.75% | 0.90% |
Future salary increases | 3.77% | 3.75% |
Future pension increases | 0% | 0% |
Inflation rate | 2.20% | 1.50% |
Germany | ||
Disclosure of defined benefit plans [line items] | ||
Discount rate | 4.07% | 0.88% |
Future salary increases | 2.50% | 2.50% |
Future pension increases | 2.10% | 1.80% |
Inflation rate | 2% | 2% |
Longevity at age 65 for current members, Males | 21 | 21 |
Longevity at age 65 for current members, Females | 24 | 24 |
Longevity at age 45 for current members, Males | 23 | 23 |
Longevity at age 45 for current members, Females | 26 | 26 |
Other | ||
Disclosure of defined benefit plans [line items] | ||
Discount rate | 6.02% | 4.22% |
Future salary increases | 2.51% | 2.36% |
Future pension increases | 0.60% | 0.10% |
Inflation rate | 4.06% | 3.75% |
Employee benefits - Sensitivity
Employee benefits - Sensitivity analysis for actuarial assumptions (Details) - CAD ($) $ in Thousands | 12 Months Ended | |
Sep. 30, 2022 | Sep. 30, 2021 | |
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 | $ (19,249) | $ (36,571) |
Increase (decrease) in defined benefit obligation due to reasonably possible decrease in actuarial assumption | $ 20,234 | $ 38,221 |
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 | $ (2,294) | $ (2,716) |
Increase (decrease) in defined benefit obligation due to reasonably possible decrease in actuarial assumption | $ 2,500 | $ 2,851 |
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 | $ (1,512) | $ (2,986) |
Increase (decrease) in defined benefit obligation due to reasonably possible decrease in actuarial assumption | $ 1,578 | $ 3,144 |
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 | $ 193 | $ 480 |
Increase (decrease) in defined benefit obligation due to reasonably possible decrease in actuarial assumption | $ (188) | $ (471) |
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 | $ 2,584 | $ 2,870 |
Increase (decrease) in defined benefit obligation due to reasonably possible decrease in actuarial assumption | $ (2,388) | $ (2,746) |
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 | $ 20 | $ 35 |
Increase (decrease) in defined benefit obligation due to reasonably possible decrease in actuarial assumption | $ (19) | $ (34) |
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 | $ 13,324 | $ 25,254 |
Increase (decrease) in defined benefit obligation due to reasonably possible decrease in actuarial assumption | $ (12,614) | $ (24,480) |
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 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 | $ 774 | $ 1,440 |
Increase (decrease) in defined benefit obligation due to reasonably possible decrease in actuarial assumption | $ (747) | $ (1,381) |
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 | $ 21,301 | $ 36,172 |
Increase (decrease) in defined benefit obligation due to reasonably possible decrease in actuarial assumption | $ (16,005) | $ (34,478) |
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 | $ 2,584 | $ 2,870 |
Increase (decrease) in defined benefit obligation due to reasonably possible decrease in actuarial assumption | $ (2,388) | $ (2,746) |
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 | $ 774 | $ 1,440 |
Increase (decrease) in defined benefit obligation due to reasonably possible decrease in actuarial assumption | $ (747) | $ (1,381) |
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 | $ 12,957 | $ 27,907 |
Increase (decrease) in defined benefit obligation due to reasonably possible decrease in actuarial assumption | $ (13,093) | $ (27,556) |
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 | $ 281 | $ 555 |
Increase (decrease) in defined benefit obligation due to reasonably possible decrease in actuarial assumption | $ (320) | $ (585) |
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 | $ 1,511 | $ 3,131 |
Increase (decrease) in defined benefit obligation due to reasonably possible decrease in actuarial assumption | $ (1,360) | $ (2,761) |
Employee benefits - Weighted av
Employee benefits - Weighted average duration of benefit obligations (Details) | 12 Months Ended | |
Sep. 30, 2022 | Sep. 30, 2021 | |
U.K. | ||
Disclosure of defined benefit plans [line items] | ||
Weighted average duration of defined benefit obligation | 17 years | 18 years |
France | ||
Disclosure of defined benefit plans [line items] | ||
Weighted average duration of defined benefit obligation | 13 years | 15 years |
Germany | ||
Disclosure of defined benefit plans [line items] | ||
Weighted average duration of defined benefit obligation | 11 years | 13 years |
Other | ||
Disclosure of defined benefit plans [line items] | ||
Weighted average duration of defined benefit obligation | 8 years | 9 years |
Accumulated other comprehensi_3
Accumulated other comprehensive income (Details) - CAD ($) $ in Thousands | 12 Months Ended | |
Sep. 30, 2022 | Sep. 30, 2021 | |
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 $45,419 ($43,208 as at September 30, 2021) | $ 291,532 | $ 611,230 |
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 $43,936 ($41,611 as at September 30, 2021) | (271,690) | (267,149) |
Deferred gains of hedging on cross-currency swaps, net of accumulated income tax expense of $4,664 ($2,369 as at September 30, 2021) | 28,274 | 6,569 |
Net unrealized gains on cash flow hedges, net of accumulated income tax expense of $10,398 $1,252 as at September 30, 2021) | 30,274 | 5,029 |
Net unrealized (losses) gains on financial assets at fair value through other comprehensive income, net of accumulated income tax recovery of $1,367 (net of accumulated income tax expense of $592 as at September 30, 2021) | (4,072) | 2,191 |
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) | 45,419 | 43,208 |
Net losses on cross-currency swaps and on translating long-term debt designated as hedges of net investments in foreign operations, accumulated income tax recovery | 43,936 | 41,611 |
Deferred gains of hedging on cross-currency swaps, accumulated income tax expense (recovery) | 4,664 | 2,369 |
Net unrealized gains on cash flow hedges, accumulated income tax expense (recovery) | 10,398 | 1,252 |
Net unrealized (losses) gains on financial assets at fair value through other comprehensive income, accumulated income tax (recovery) expense | (1,367) | 592 |
Items that will not be reclassified subsequently to net earnings: | ||
Net remeasurement losses on defined benefit plans, net of accumulated income tax recovery of $12,095 ($11,084 as at September 30, 2021) | (34,572) | (26,290) |
Items that will not be reclassified subsequently to net earnings, tax portion: | ||
Net remeasurement losses on defined benefit plans, accumulated income tax recovery | 12,095 | 11,084 |
Accumulated other comprehensive income | 39,746 | 331,580 |
Net unrealized gains on cash flow hedges previously recognized in other comprehensive income, reclassified to net earnings | 4,151 | 412 |
Net unrealized gains on cash flow hedges previously recognized in other comprehensive income, reclassified to net earnings, income tax expense | 998 | (623) |
Deferred costs of hedging on cross-currency swaps | 10,746 | 10,317 |
Reclassification adjustments on other comprehensive income (loss), deferred gains (cost) of hedging, tax | $ 3,876 | $ 3,719 |
Capital stock - Narrative (Deta
Capital stock - Narrative (Details) - Capital stock | 12 Months Ended |
Sep. 30, 2022 vote | |
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 | 12 Months Ended | |||
Feb. 01, 2022 shares | Mar. 01, 2021 shares | Sep. 30, 2022 CAD ($) shares transaction | Sep. 30, 2021 CAD ($) shares | |
Reconciliation of number of shares outstanding [abstract] | ||||
Equity at beginning of period | $ 6,986,232 | $ 7,264,160 | ||
Release of shares held in trusts | $ 0 | $ 0 | ||
Issued upon exercise of stock options (in shares) | shares | 941,059 | 1,290,919 | ||
Issued upon exercise of stock options | $ 41,687 | $ 61,054 | ||
Purchased and held in trust | (70,303) | (31,404) | ||
Equity at end of period | $ 7,272,724 | $ 6,986,232 | ||
Capital stock | ||||
Reconciliation of number of shares outstanding [abstract] | ||||
Beginning balance (in shares) | shares | 245,617,035,000 | 259,636,581,000 | ||
Equity at beginning of period | $ 1,632,705 | $ 1,761,873 | ||
Release of shares held in trusts (in shares) | shares | 0 | 0 | ||
Release of shares held in trusts | $ 15,821 | $ 7,150 | ||
Issued upon exercise of stock options (in shares) | shares | 941,059,000 | 1,290,919,000 | ||
Issued upon exercise of stock options | $ 50,236 | $ 73,827 | ||
Purchased and cancelled (in shares) | shares | (8,809,839,000) | (15,310,465,000) | ||
Purchased and cancelled | $ (134,409) | $ (177,560) | ||
Purchased and not cancelled (in shares) | shares | 0 | 0 | ||
Purchased and not cancelled | $ (881) | $ (1,181) | ||
Purchased and held in trust (in shares) | shares | 0 | 0 | ||
Purchased and held in trust | $ (70,303) | $ (31,404) | ||
Conversion of shares (in shares) | shares | 0 | |||
Conversion of shares | $ 0 | |||
Ending balance (in shares) | shares | 237,748,255,000 | 245,617,035,000 | ||
Equity at end of period | $ 1,493,169 | $ 1,632,705 | ||
Capital stock | Class A subordinate voting shares | ||||
Reconciliation of number of shares outstanding [abstract] | ||||
Beginning balance (in shares) | shares | 219,171,329,000 | 230,690,875,000 | ||
Equity at beginning of period | $ 1,595,811 | $ 1,721,491 | ||
Release of shares held in trusts (in shares) | shares | 0 | 0 | ||
Release of shares held in trusts | $ 15,821 | $ 7,150 | ||
Issued upon exercise of stock options (in shares) | shares | 941,059,000 | 1,290,919,000 | ||
Issued upon exercise of stock options | $ 50,236 | $ 73,827 | ||
Purchased and cancelled (in shares) | shares | (8,809,839,000) | (15,310,465,000) | ||
Purchased and cancelled | $ (134,409) | $ (177,560) | ||
Purchased and not cancelled (in shares) | shares | 0 | 0 | ||
Purchased and not cancelled | $ (881) | $ (1,181) | ||
Purchased and held in trust (in shares) | shares | 0 | 0 | ||
Purchased and held in trust | $ (70,303) | $ (31,404) | ||
Conversion of shares (in shares) | shares | 2,500,000 | 2,500,000,000 | ||
Conversion of shares | $ 3,488 | |||
Ending balance (in shares) | shares | 211,302,549,000 | 219,171,329,000 | ||
Equity at end of period | $ 1,456,275 | $ 1,595,811 | ||
Number of treasury shares purchased and cancelled, after the reporting period (in shares) | shares | 150,000 | |||
Purchase and cancellation of treasury shares, after the reporting period | $ 1,181 | |||
Payments to acquire or redeem entity's shares and cancellation, after the reporting period | $ 16,402 | |||
Shares purchased (in shares) | shares | 643,629 | 309,606 | ||
Capital stock | Class A subordinate voting shares | Major ordinary share transactions | ||||
Reconciliation of number of shares outstanding [abstract] | ||||
Number of treasury shares purchased and cancelled, after the reporting period (in shares) | shares | 113,405 | |||
Purchase and cancellation of treasury shares, after the reporting period | $ 881 | |||
Payments to acquire or redeem entity's shares and cancellation, after the reporting period | $ 11,670 | |||
Capital stock | Class B multiple voting shares | ||||
Reconciliation of number of shares outstanding [abstract] | ||||
Beginning balance (in shares) | shares | 26,445,706,000 | 28,945,706,000 | ||
Equity at beginning of period | $ 36,894 | $ 40,382 | ||
Release of shares held in trusts (in shares) | shares | 0 | 0 | ||
Release of shares held in trusts | $ 0 | $ 0 | ||
Issued upon exercise of stock options (in shares) | shares | 0 | 0 | ||
Issued upon exercise of stock options | $ 0 | $ 0 | ||
Purchased and cancelled (in shares) | shares | 0 | 0 | ||
Purchased and cancelled | $ 0 | $ 0 | ||
Purchased and not cancelled (in shares) | shares | 0 | 0 | ||
Purchased and not cancelled | $ 0 | $ 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 | 26,445,706,000 | ||
Equity at end of period | $ 36,894 | $ 36,894 | ||
Contributed surplus | ||||
Reconciliation of number of shares outstanding [abstract] | ||||
Equity at beginning of period | 289,718 | 252,935 | ||
Release of shares held in trusts | (15,821) | (7,150) | ||
Issued upon exercise of stock options | (8,549) | (12,773) | ||
Equity at end of period | 314,804 | 289,718 | ||
Contributed surplus | Class A subordinate voting shares | ||||
Reconciliation of number of shares outstanding [abstract] | ||||
Issued upon exercise of stock options | 8,549 | 12,773 | ||
Retained earnings | ||||
Reconciliation of number of shares outstanding [abstract] | ||||
Equity at beginning of period | 4,732,229 | 4,703,642 | ||
Equity at end of period | $ 5,425,005 | $ 4,732,229 | ||
PSUs | ||||
Reconciliation of number of shares outstanding [abstract] | ||||
Release of shares held in trusts (in shares) | shares | 237,294 | 119,108 | ||
PSUs | Capital stock | ||||
Reconciliation of number of shares outstanding [abstract] | ||||
Release of shares held in trusts (in shares) | shares | 235,441 | 119,108 | ||
PSUs | Capital stock | Class A subordinate voting shares | ||||
Reconciliation of number of shares outstanding [abstract] | ||||
Shares outstanding, held in trust (in shares) | shares | 1,841,709 | 1,433,521 | ||
Normal Course Issuer Bid | Capital stock | Class A subordinate voting shares | ||||
Reconciliation of number of shares outstanding [abstract] | ||||
Purchased and cancelled (in shares) | shares | (3,866,171) | (11,255,600) | ||
Purchased and cancelled | $ (408,656) | $ (1,119,226) | ||
Number of shares authorized for purchase and cancellation (in shares) | shares | 18,781,981 | |||
Normal Course Issuer Bid | Retained earnings | Class A subordinate voting shares | ||||
Reconciliation of number of shares outstanding [abstract] | ||||
Purchased and cancelled | $ (378,340) | $ (1,030,437) | ||
Normal Course Issuer Bid - Caisse de depot | ||||
Reconciliation of number of shares outstanding [abstract] | ||||
Number of transactions | transaction | 2 | |||
Number of exemption order issued by the AMF | transaction | 2 | |||
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 | (4,907,073) | (4,204,865) | ||
Purchased and cancelled | $ (500,000) | $ (400,000) | ||
Normal Course Issuer Bid - Caisse de depot | Retained earnings | Class A subordinate voting shares | ||||
Reconciliation of number of shares outstanding [abstract] | ||||
Purchased and cancelled | $ (395,026) | $ (310,048) |
Share-based payments - Performa
Share-based payments - Performance share units (Details) - PSUs | 12 Months Ended |
Sep. 30, 2022 plan shares | |
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 - Disclosu
Share-based payments - Disclosure of information concerning PSUs (Details) - PSUs | 12 Months Ended | |
Sep. 30, 2022 CAD ($) shares | Sep. 30, 2021 CAD ($) shares | |
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||
Outstanding, beginning of period (in shares) | 1,416,203 | 1,231,470 |
Granted (in shares) | 805,699 | 669,252 |
Exercised (in shares) | (237,294) | (119,108) |
Forfeited (in shares) | (175,017) | (365,411) |
Outstanding, end of period (in shares) | 1,809,591 | 1,416,203 |
Grant date fair value (in CAD per share) | $ | $ 109.07 | $ 94 |
Share-based payments - Stock op
Share-based payments - Stock options (Details) - $ / shares | 12 Months Ended | |
Sep. 30, 2022 | Sep. 30, 2021 | |
Disclosure of classes of share capital [line items] | ||
Weighted average share price for share options at date of exercise (in CAD per share) | $ 107.09 | $ 104.75 |
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) | 15,327,686 |
Share-based payments - Disclo_2
Share-based payments - Disclosure of information concerning outstanding stock options (Details) | 12 Months Ended | |
Sep. 30, 2022 shares $ / shares | Sep. 30, 2021 shares $ / shares | |
Share-Based Payment Arrangements [Abstract] | ||
Outstanding, beginning of year (in shares) | shares | 8,012,077 | 8,934,097 |
Granted (in shares) | shares | 11,940 | 995,160 |
Exercised (in shares) | shares | (941,059) | (1,290,919) |
Forfeited (in shares) | shares | (188,130) | (622,940) |
Expired (in shares) | shares | (11,983) | (3,321) |
Outstanding, end of year (in shares) | shares | 6,882,845 | 8,012,077 |
Exercisable, end of year (in shares) | shares | 5,837,921 | 5,781,579 |
Outstanding, beginning of year (in CAD per share) | $ / shares | $ 64.49 | $ 61.33 |
Granted (in CAD per share) | $ / shares | 110.10 | 97.86 |
Excercised (in CAD per share) | $ / shares | 44.30 | 47.29 |
Forfeited (in CAD per share) | $ / shares | 97.55 | 107.82 |
Expired (in CAD per share) | $ / shares | 104.36 | 108.44 |
Outstanding, end of year (in CAD per share) | $ / shares | 66.36 | 64.49 |
Excercisable (in CAD per share) | $ / shares | $ 61.02 | $ 54.76 |
Share-based payments - Disclo_3
Share-based payments - Disclosure of range of exercise prices, number of options and weighted average remaining contractual life (Details) | 12 Months Ended | ||
Sep. 30, 2022 shares $ / shares | Sep. 30, 2021 shares $ / shares | Sep. 30, 2020 shares $ / shares | |
Disclosure of number and weighted average remaining contractual life of outstanding share options [line items] | |||
Number of options outstanding (in shares) | shares | 6,882,845 | 8,012,077 | 8,934,097 |
Weighted average remaining contractual life of options outstanding | 4 years 6 months 14 days | ||
Weighted average exercise price of options outstanding (in CAD per share) | $ 66.36 | $ 64.49 | $ 61.33 |
Number of options exercisable (in shares) | shares | 5,837,921 | 5,781,579 | |
Weighted average exercise price of options exercisable (in CAD per share) | $ 61.02 | $ 54.76 | |
23.65 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 | 982,507 | ||
Weighted average remaining contractual life of options outstanding | 1 year 21 days | ||
Weighted average exercise price of options outstanding (in CAD per share) | $ 33.01 | ||
Number of options exercisable (in shares) | shares | 982,507 | ||
Weighted average exercise price of options exercisable (in CAD per share) | $ 33.01 | ||
23.65 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) | 23.65 | ||
23.65 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 | 970,493 | ||
Weighted average remaining contractual life of options outstanding | 2 years 8 months 15 days | ||
Weighted average exercise price of options outstanding (in CAD per share) | $ 45.46 | ||
Number of options exercisable (in shares) | shares | 970,493 | ||
Weighted average exercise price of options exercisable (in CAD per share) | $ 45.46 | ||
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 | 2,532,301 | ||
Weighted average remaining contractual life of options outstanding | 4 years 5 months 12 days | ||
Weighted average exercise price of options outstanding (in CAD per share) | $ 63.04 | ||
Number of options exercisable (in shares) | shares | 2,532,301 | ||
Weighted average exercise price of options exercisable (in CAD per share) | $ 63.04 | ||
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 | 1,311,981 | ||
Weighted average remaining contractual life of options outstanding | 5 years 11 months 1 day | ||
Weighted average exercise price of options outstanding (in CAD per share) | $ 84.05 | ||
Number of options exercisable (in shares) | shares | 1,005,535 | ||
Weighted average exercise price of options exercisable (in CAD per share) | $ 83.60 | ||
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 | 1,085,563 | ||
Weighted average remaining contractual life of options outstanding | 7 years 10 months 28 days | ||
Weighted average exercise price of options outstanding (in CAD per share) | $ 101.61 | ||
Number of options exercisable (in shares) | shares | 347,085 | ||
Weighted average exercise price of options exercisable (in CAD per share) | $ 103.69 | ||
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_4
Share-based payments - Disclosure of weighted average assumptions used in the calculation of fair value of stock options (Details) | 12 Months Ended | |
Sep. 30, 2022 CAD ($) year $ / shares | Sep. 30, 2021 CAD ($) year $ / shares | |
Share-Based Payment Arrangements [Abstract] | ||
Grant date fair value (in CAD per share) | $ | $ 20.94 | $ 16.76 |
Dividend yield (%) | 0% | 0% |
Expected volatility (%) | 21.27% | 20.76% |
Risk-free interest rate (%) | 1.28% | 0.40% |
Expected life (years) | year | 4 | 4 |
Exercise price (in CAD per share) | $ 110.10 | $ 97.86 |
Share price (in CAD per share) | $ 110.10 | $ 97.86 |
Share-based payments - Share pu
Share-based payments - Share purchase plan (Details) | 12 Months Ended |
Sep. 30, 2022 | |
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, 2022 | Sep. 30, 2021 |
DSUs | ||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||
Number of outstanding DSUs (in shares) | 119,090 | 101,578 |
Share-based payments - Disclo_5
Share-based payments - Disclosure of share-based payment expense (Details) - CAD ($) $ in Thousands | 12 Months Ended | |
Sep. 30, 2022 | Sep. 30, 2021 | |
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||
Share-based payment expense | $ 186,726 | $ 177,130 |
PSUs | ||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||
Share-based payment expense | 42,148 | 32,484 |
Stock options | ||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||
Share-based payment expense | 6,848 | 13,108 |
Share purchase plan | ||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||
Share-based payment expense | 136,275 | 128,662 |
DSUs | ||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||
Share-based payment expense | $ 1,455 | $ 2,876 |
Earnings per share (Details)
Earnings per share (Details) - CAD ($) $ / shares in Units, $ in Thousands | 12 Months Ended | |
Sep. 30, 2022 | Sep. 30, 2021 | |
Earnings per share [line items] | ||
Basic net earnings | $ 1,466,142 | $ 1,369,072 |
Diluted net earnings | $ 1,466,142 | $ 1,369,072 |
Basic weighted average number of ordinary shares outstanding (in shares) | 239,262,004 | 249,119,219 |
Net effect of dilutive stock options and PSUs (in shares) | 3,605,441 | 3,969,661 |
Diluted weighted average number of ordinary shares outstanding (in shares) | 242,867,445 | 253,088,880 |
Basic earnings per share (CAD per share) | $ 6.13 | $ 5.50 |
Diluted earnings per share (CAD per share) | $ 6.04 | $ 5.41 |
Anti-dilutive securities excluded from computation of earnings per share (in shares) | 307,272 | 1,276,809 |
Class A subordinate voting shares | Capital stock | ||
Earnings per share [line items] | ||
Anti-dilutive securities excluded from computation of earnings per share (in shares) | 1,841,709 | 15,460,465 |
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) | 8,839,439 | 1,433,521 |
Remaining performance obligat_2
Remaining performance obligations (Details) - CAD ($) $ in Thousands | 12 Months Ended | |
Sep. 30, 2022 | Sep. 30, 2021 | |
Disclosure of performance obligations [abstract] | ||
Transaction price allocated to remaining performance obligations | $ 919,664 | $ 939,499 |
Remaining performance obligations, weighted average average period | 1 year 10 months 24 days | 1 year 9 months 18 days |
Cost of services, selling and_3
Cost of services, selling and administrative (Details) - CAD ($) $ in Thousands | 12 Months Ended | |
Sep. 30, 2022 | Sep. 30, 2021 | |
Analysis of income and expense [abstract] | ||
Salaries and other member costs | $ 7,798,407 | $ 7,317,113 |
Professional fees and other contracted labour | 1,459,295 | 1,262,659 |
Hardware, software and data center related costs | 790,447 | 830,199 |
Property costs | 214,430 | 216,506 |
Amortization, depreciation and impairment (Note 24) | 468,334 | 505,562 |
Other operating expenses | 45,651 | 46,125 |
Costs of services, selling and administrative | 10,776,564 | 10,178,164 |
R&D and other tax credits | $ 155,856 | $ 167,198 |
Amortization, depreciation an_3
Amortization, depreciation and impairment (Details) - CAD ($) $ in Thousands | 12 Months Ended | |
Sep. 30, 2022 | Sep. 30, 2021 | |
Disclosure of impairment loss and reversal of impairment loss [line items] | ||
Included in costs of services, selling and administrative (Note 23) | $ 474,622 | $ 510,570 |
Amortization of contract costs related to incentives (presented as a reduction of revenue) | 2,201 | 2,611 |
Amortization of deferred financing fees (presented in finance costs) | 829 | 875 |
Amortization of premiums and discounts on investments related to funds held for clients (presented net as a reduction (increase) of revenue) | 37 | (102) |
Impairment of PP&E (presented in integration costs) (Note 6) | 858 | 1,113 |
Impairment of right-of-use assets (presented in integration costs) (Note 7) | 2,363 | 511 |
Included in costs of services, selling and administrative (Note 23) | 474,622 | 510,570 |
Costs of services, selling and administrative | ||
Disclosure of impairment loss and reversal of impairment loss [line items] | ||
Depreciation of PP&E (Note 6) | 133,651 | 144,423 |
Depreciation of right-of-use assets (Note 7) | 141,295 | 160,240 |
Impairment of right-of-use assets (Note 7) | 1,495 | 956 |
Amortization of contract costs related to transition costs | 48,594 | 61,369 |
Impairment of contract costs related to transition costs | 0 | 4,592 |
Amortization of intangible assets (Note 9) | 139,940 | 129,861 |
Impairment of intangible assets (Note 9) | 3,359 | 4,121 |
Included in costs of services, selling and administrative (Note 23) | 468,334 | 505,562 |
Included in costs of services, selling and administrative (Note 23) | $ 468,334 | $ 505,562 |
Net finance costs (Details)
Net finance costs (Details) - CAD ($) $ in Thousands | 12 Months Ended | |
Sep. 30, 2022 | Sep. 30, 2021 | |
Analysis of income and expense [abstract] | ||
Interest on long-term debt | $ 57,752 | $ 67,467 |
Interest on lease liabilities | 27,426 | 33,255 |
Net interest costs on net defined benefit obligations or assets (Note 17) | 1,626 | 2,413 |
Other finance costs | 8,413 | 6,774 |
Finance costs | 95,217 | 109,909 |
Finance income | (3,194) | (3,111) |
Net finance costs | $ 92,023 | $ 106,798 |
Investments in subsidiaries - N
Investments in subsidiaries - Narrative (Details) - CAD ($) $ in Thousands | 12 Months Ended | ||||||||||
Sep. 30, 2022 | Sep. 30, 2021 | Jul. 29, 2022 | Jul. 18, 2022 | May 31, 2022 | May 25, 2022 | Feb. 28, 2022 | Oct. 28, 2021 | Oct. 01, 2021 | May 03, 2021 | Dec. 31, 2020 | |
Disclosure of detailed information about business combination [line items] | |||||||||||
Identifiable assets acquired (liabilities assumed) | $ 658,618 | $ 111,513 | |||||||||
Consideration paid | 639,192 | 104,148 | |||||||||
Revenue of combined entity as if combination occurred at beginning of period | 600,000 | ||||||||||
Profit (loss) of combined entity as if combination occurred at beginning of period | 43,000 | ||||||||||
Expenses for acquisition-related and integration costs | 27,654 | 7,371 | |||||||||
Acquisition-related costs | 3,094 | 293 | |||||||||
Integration costs | 24,560 | 7,078 | |||||||||
Termination of employment costs | 10,948 | 1,008 | |||||||||
Other integration costs | 13,612 | $ 6,070 | |||||||||
Array Holding Company, Inc | |||||||||||
Disclosure of detailed information about business combination [line items] | |||||||||||
Identifiable assets acquired (liabilities assumed) | $ 60,337 | ||||||||||
CMC | |||||||||||
Disclosure of detailed information about business combination [line items] | |||||||||||
Identifiable assets acquired (liabilities assumed) | 90,900 | $ 90,900 | |||||||||
Consideration paid | 79,291 | ||||||||||
Revenue of acquiree since acquisition date | 112,000 | ||||||||||
Profit (loss) of acquiree since acquisition date | 5,000 | ||||||||||
Unico Computer Systems Pty Ltd | |||||||||||
Disclosure of detailed information about business combination [line items] | |||||||||||
Identifiable assets acquired (liabilities assumed) | $ 39,814 | ||||||||||
Harwell Management | |||||||||||
Disclosure of detailed information about business combination [line items] | |||||||||||
Identifiable assets acquired (liabilities assumed) | $ 47,309 | ||||||||||
Umanis | |||||||||||
Disclosure of detailed information about business combination [line items] | |||||||||||
Identifiable assets acquired (liabilities assumed) | 420,258 | $ 303,896 | |||||||||
Percentage of voting equity interests acquired | 90% | 72.40% | |||||||||
Consideration paid | 420,258 | $ 116,362 | |||||||||
Revenue of acquiree since acquisition date | 113,000 | ||||||||||
Profit (loss) of acquiree since acquisition date | 9,000 | ||||||||||
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 | ||||||||||
Prior fiscal year acquisitions | |||||||||||
Disclosure of detailed information about business combination [line items] | |||||||||||
Consideration paid | $ 4,700 |
Investments in subsidiaries - A
Investments in subsidiaries - Assets acquired and liabilities assumed in current fiscal year (Details) - CAD ($) $ in Thousands | Sep. 30, 2022 | Jul. 29, 2022 | May 31, 2022 | Oct. 28, 2021 | Sep. 30, 2021 |
Disclosure of detailed information about borrowings [line items] | |||||
Current assets | $ 171,269 | $ 17,746 | |||
PP&E (Note 6) | 8,164 | 1,869 | |||
Right-of-use assets (Note 7) | 22,114 | 4,982 | |||
Contract costs | 979 | ||||
Intangible assets (Note 9) | 110,647 | 22,107 | |||
Other long-term assets | 18,698 | ||||
Goodwill | 630,848 | 75,697 | |||
Current liabilities | (164,100) | (11,859) | |||
Long-term debt | (162,640) | ||||
Lease liabilities | (23,181) | (5,733) | |||
Deferred tax liabilities | (15,954) | ||||
Retirement benefits obligations (Note 17) | (10,192) | ||||
Identifiable assets acquired, net, excluding cash and cash equivalents | 586,652 | 105,558 | |||
Cash acquired | 71,966 | 5,955 | |||
Net assets acquired | 658,618 | 111,513 | |||
Consideration paid | 639,192 | 104,148 | |||
Consideration payable | 19,426 | $ 7,365 | |||
CMC | |||||
Disclosure of detailed information about borrowings [line items] | |||||
Current assets | 46,900 | ||||
PP&E (Note 6) | 1,556 | ||||
Right-of-use assets (Note 7) | 3,353 | ||||
Contract costs | 979 | ||||
Intangible assets (Note 9) | 20,657 | ||||
Other long-term assets | 2,336 | ||||
Goodwill | 93,638 | ||||
Current liabilities | (41,055) | ||||
Long-term debt | (37,937) | ||||
Lease liabilities | (3,920) | ||||
Deferred tax liabilities | (2,706) | ||||
Retirement benefits obligations (Note 17) | 0 | ||||
Identifiable assets acquired, net, excluding cash and cash equivalents | 83,801 | ||||
Cash acquired | 7,099 | ||||
Net assets acquired | 90,900 | $ 90,900 | |||
Consideration paid | 79,291 | ||||
Consideration payable | 11,609 | ||||
Umanis | |||||
Disclosure of detailed information about borrowings [line items] | |||||
Current assets | 106,102 | ||||
PP&E (Note 6) | 5,179 | ||||
Right-of-use assets (Note 7) | 12,855 | ||||
Contract costs | 0 | ||||
Intangible assets (Note 9) | 62,337 | ||||
Other long-term assets | 16,362 | ||||
Goodwill | 391,026 | ||||
Current liabilities | (96,141) | ||||
Long-term debt | (77,973) | ||||
Lease liabilities | (12,919) | ||||
Deferred tax liabilities | (12,688) | ||||
Retirement benefits obligations (Note 17) | (9,743) | ||||
Identifiable assets acquired, net, excluding cash and cash equivalents | 384,397 | ||||
Cash acquired | 35,861 | ||||
Net assets acquired | 420,258 | $ 303,896 | |||
Consideration paid | 420,258 | $ 116,362 | |||
Consideration payable | 0 | ||||
Others | |||||
Disclosure of detailed information about borrowings [line items] | |||||
Current assets | 18,267 | ||||
PP&E (Note 6) | 1,429 | ||||
Right-of-use assets (Note 7) | 5,906 | ||||
Contract costs | 0 | ||||
Intangible assets (Note 9) | 27,653 | ||||
Other long-term assets | 0 | ||||
Goodwill | 146,184 | ||||
Current liabilities | (26,904) | ||||
Long-term debt | (46,730) | ||||
Lease liabilities | (6,342) | ||||
Deferred tax liabilities | (560) | ||||
Retirement benefits obligations (Note 17) | (449) | ||||
Identifiable assets acquired, net, excluding cash and cash equivalents | 118,454 | ||||
Cash acquired | 29,006 | ||||
Net assets acquired | 147,460 | ||||
Consideration paid | 139,643 | ||||
Consideration payable | $ 7,817 |
Investments in subsidiaries -_2
Investments in subsidiaries - Assets acquired and liabilities assumed in previous fiscal year (Details) - CAD ($) $ in Thousands | Sep. 30, 2022 | Sep. 30, 2021 |
Disclosure of detailed information about borrowings [line items] | ||
Current assets | $ 171,269 | $ 17,746 |
PP&E (Note 6) | 8,164 | 1,869 |
Right-of-use assets (Note 7) | 22,114 | 4,982 |
Intangible assets (Note 9) | 110,647 | 22,107 |
Deferred tax assets | 749 | |
Goodwill | 630,848 | 75,697 |
Current liabilities | (164,100) | (11,859) |
Lease liabilities | (23,181) | (5,733) |
Identifiable assets acquired, net, excluding cash and cash equivalents | 586,652 | 105,558 |
Cash acquired | 71,966 | 5,955 |
Net assets acquired | 658,618 | 111,513 |
Consideration paid | 639,192 | 104,148 |
Consideration payable | $ 19,426 | 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 |
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, 2022 | Sep. 30, 2021 | |
Cash Flow Statement [Abstract] | ||
Accounts receivable | $ (47,789) | $ (42,336) |
Work in progress | (116,260) | (12,354) |
Prepaid expenses and other assets | (10,907) | (33,631) |
Long-term financial assets | 22,929 | (10,241) |
Accounts payable and accrued liabilities | 108,188 | 60,822 |
Accrued compensation and employee-related liabilities | (43,429) | 233,670 |
Deferred revenue | 43,656 | 62,307 |
Income taxes | (2,626) | 59,620 |
Provisions | (41,561) | (105,292) |
Long-term liabilities | (28,074) | 1,535 |
Derivative financial instruments | (70) | (249) |
Retirement benefits obligations | 5,050 | 1,013 |
Increase (decrease) in working capital | $ (110,893) | $ 214,864 |
Supplementary cash flow infor_4
Supplementary cash flow information - Non-cash operating and investing activities (Details) - CAD ($) $ in Thousands | 12 Months Ended | |
Sep. 30, 2022 | Sep. 30, 2021 | |
Operating activities | ||
Accounts payable and accrued liabilities | $ 7,720 | $ 18,707 |
Provisions | 262 | 805 |
Non-cash operating activities | 7,982 | 19,512 |
Investing activities | ||
Purchase of PP&E | (16,732) | (18,162) |
Additions, disposals/retirements, change in estimates and lease modifications of right-of-use assets | (101,180) | (104,467) |
Additions to intangible assets | (1,127) | (1,350) |
Non-cash investing activities | $ (119,039) | $ (123,979) |
Supplementary cash flow infor_5
Supplementary cash flow information - Financing activities (Details) - CAD ($) $ in Thousands | 12 Months Ended | |
Sep. 30, 2022 | Sep. 30, 2021 | |
Cash used in financing activities excluding equity | ||
Repayment of debt assumed in business acquisitions | $ (113,036) | $ 0 |
Settlement of derivative financial instruments | 6,258 | (6,992) |
Non-cash financing activities | ||
Additions, disposals/retirements, change in estimates and lease modifications of right-of-use assets | 101,180 | 104,467 |
Long-term debt | ||
Financing activities | ||
Balance, beginning of year | 3,401,656 | 3,587,095 |
Cash used in financing activities excluding equity | ||
Increase of long-term debt | 0 | 1,885,262 |
Repayment of long-term debt and lease liabilities | (401,654) | (1,888,777) |
Repayment of debt assumed in business acquisitions | (113,036) | 0 |
Settlement of derivative financial instruments | 0 | 0 |
Non-cash financing activities | ||
Additions, disposals/retirements, change in estimates and lease modifications of right-of-use assets | 0 | 0 |
Additions through business acquisitions (Note 26) | 162,640 | 0 |
Changes in foreign currency exchange rates | 207,561 | (172,984) |
Other | 9,867 | (8,940) |
Balance, end of year | 3,267,034 | 3,401,656 |
Derivative financial instruments to hedge long-term debt | ||
Financing activities | ||
Balance, beginning of year | 17,187 | 32,234 |
Cash used in financing activities excluding equity | ||
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 | 6,258 | (6,992) |
Non-cash financing activities | ||
Additions, disposals/retirements, 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 | (169,660) | (8,055) |
Other | 0 | 0 |
Balance, end of year | (146,215) | 17,187 |
Lease liabilities | ||
Financing activities | ||
Balance, beginning of year | 776,940 | 876,370 |
Cash used in financing activities excluding equity | ||
Increase of long-term debt | 0 | 0 |
Repayment of long-term debt and lease liabilities | (160,583) | (174,808) |
Repayment of debt assumed in business acquisitions | 0 | 0 |
Settlement of derivative financial instruments | 0 | 0 |
Non-cash financing activities | ||
Additions, disposals/retirements, change in estimates and lease modifications of right-of-use assets | 95,547 | 102,281 |
Additions through business acquisitions (Note 26) | 23,181 | 5,733 |
Changes in foreign currency exchange rates | (25,153) | (30,721) |
Other | (731) | (1,915) |
Balance, end of year | $ 709,201 | $ 776,940 |
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, 2022 | Sep. 30, 2021 | |
Cash Flow Statement [Abstract] | ||
Interest paid | $ 115,408 | $ 131,646 |
Interest received | 28,247 | 15,929 |
Income taxes paid | $ 435,558 | $ 382,833 |
Segmented information - Disclos
Segmented information - Disclosure of operating segment information (Details) - CAD ($) $ in Thousands | 12 Months Ended | |
Sep. 30, 2022 | Sep. 30, 2021 | |
Disclosure of operating segments [line items] | ||
Segment revenue | $ 12,867,201 | $ 12,126,793 |
Segment earnings before acquisition-related and integration costs, net finance costs and income tax expense | 2,086,636 | 1,952,161 |
Acquisition-related and integration costs (Note 26c) | (27,654) | (7,371) |
Net finance costs | (92,023) | (106,798) |
Earnings before income taxes | 1,966,959 | 1,837,992 |
Amortization and depreciation, without amortization of deferred financing fees | 470,572 | 508,071 |
Impairment included in amortisation from business solutions and contract costs | 3,359 | 8,713 |
Western and Southern Europe | ||
Disclosure of operating segments [line items] | ||
Segment revenue | 2,152,113 | 1,917,760 |
Segment earnings before acquisition-related and integration costs, net finance costs and income tax expense | 289,730 | 269,350 |
Amortization and depreciation, without amortization of deferred financing fees | 62,922 | 60,186 |
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 | 2,075,321 | 1,800,747 |
Segment earnings before acquisition-related and integration costs, net finance costs and income tax expense | 304,767 | 281,217 |
Amortization and depreciation, without amortization of deferred financing fees | 70,417 | 71,037 |
Canada | ||
Disclosure of operating segments [line items] | ||
Segment revenue | 1,981,380 | 1,755,804 |
Segment earnings before acquisition-related and integration costs, net finance costs and income tax expense | 463,289 | 390,370 |
Amortization and depreciation, without amortization of deferred financing fees | 57,528 | 65,038 |
U.S. Federal | ||
Disclosure of operating segments [line items] | ||
Segment revenue | 1,750,902 | 1,607,431 |
Segment earnings before acquisition-related and integration costs, net finance costs and income tax expense | 276,395 | 252,657 |
Amortization and depreciation, without amortization of deferred financing fees | 54,073 | 49,636 |
Scandinavia and Central Europe | ||
Disclosure of operating segments [line items] | ||
Segment revenue | 1,571,118 | 1,663,470 |
Segment earnings before acquisition-related and integration costs, net finance costs and income tax expense | 125,728 | 138,191 |
Amortization and depreciation, without amortization of deferred financing fees | 91,435 | 102,474 |
U.K. and Australia | ||
Disclosure of operating segments [line items] | ||
Segment revenue | 1,291,125 | 1,355,603 |
Segment earnings before acquisition-related and integration costs, net finance costs and income tax expense | 200,117 | 218,624 |
Amortization and depreciation, without amortization of deferred financing fees | 40,765 | 57,888 |
Finland, Poland and Baltics | ||
Disclosure of operating segments [line items] | ||
Segment revenue | 729,024 | 768,994 |
Segment earnings before acquisition-related and integration costs, net finance costs and income tax expense | 96,651 | 114,358 |
Amortization and depreciation, without amortization of deferred financing fees | 33,219 | 39,275 |
Impairment included in amortisation from business solutions and contract costs | 3,490 | |
Northwest and Central-East Europe | ||
Disclosure of operating segments [line items] | ||
Segment revenue | 692,859 | 716,183 |
Segment earnings before acquisition-related and integration costs, net finance costs and income tax expense | 88,287 | 79,898 |
Amortization and depreciation, without amortization of deferred financing fees | 34,323 | 35,298 |
Impairment included in amortisation from business solutions and contract costs | 2,131 | |
Asia Pacific | ||
Disclosure of operating segments [line items] | ||
Segment revenue | 799,661 | 680,554 |
Segment earnings before acquisition-related and integration costs, net finance costs and income tax expense | 241,672 | 207,496 |
Amortization and depreciation, without amortization of deferred financing fees | 25,890 | 27,239 |
Eliminations | ||
Disclosure of operating segments [line items] | ||
Segment revenue | (176,302) | (139,753) |
Segment earnings before acquisition-related and integration costs, net finance costs and income tax expense | $ 0 | $ 0 |
Segmented information - Discl_2
Segmented information - Disclosure of revenue information by location (Details) - CAD ($) $ in Thousands | 12 Months Ended | |
Sep. 30, 2022 | Sep. 30, 2021 | |
Disclosure of geographical areas [line items] | ||
Revenue | $ 12,867,201 | $ 12,126,793 |
Western and Southern Europe | ||
Disclosure of geographical areas [line items] | ||
Revenue | 2,116,082 | 1,903,220 |
Revenue | 2,152,113 | 1,917,760 |
Western and Southern Europe | France | ||
Disclosure of geographical areas [line items] | ||
Revenue | 1,846,832 | 1,721,622 |
Western and Southern Europe | Spain | ||
Disclosure of geographical areas [line items] | ||
Revenue | 111,515 | 33,490 |
Western and Southern Europe | Portugal | ||
Disclosure of geographical areas [line items] | ||
Revenue | 105,225 | 105,776 |
Western and Southern Europe | Others | ||
Disclosure of geographical areas [line items] | ||
Revenue | 52,510 | 42,332 |
U.S. | U.S. | ||
Disclosure of geographical areas [line items] | ||
Revenue | 3,987,025 | 3,510,193 |
U.S. Commercial and State Government | ||
Disclosure of geographical areas [line items] | ||
Revenue | 2,075,321 | 1,800,747 |
U.S. Commercial and State Government | U.S. | ||
Disclosure of geographical areas [line items] | ||
Revenue | 2,226,473 | 1,889,999 |
U.S. Federal | ||
Disclosure of geographical areas [line items] | ||
Revenue | 1,750,902 | 1,607,431 |
U.S. Federal | U.S. | ||
Disclosure of geographical areas [line items] | ||
Revenue | 1,760,552 | 1,620,194 |
Canada | ||
Disclosure of geographical areas [line items] | ||
Revenue | 1,981,380 | 1,755,804 |
Canada | Canada | ||
Disclosure of geographical areas [line items] | ||
Revenue | 2,143,211 | 1,892,246 |
Scandinavia and Central Europe | ||
Disclosure of geographical areas [line items] | ||
Revenue | 1,652,658 | 1,735,134 |
Revenue | 1,571,118 | 1,663,470 |
Scandinavia and Central Europe | Germany | ||
Disclosure of geographical areas [line items] | ||
Revenue | 811,458 | 786,426 |
Scandinavia and Central Europe | Sweden | ||
Disclosure of geographical areas [line items] | ||
Revenue | 697,941 | 782,581 |
Scandinavia and Central Europe | Norway | ||
Disclosure of geographical areas [line items] | ||
Revenue | 143,259 | 166,127 |
U.K. and Australia | ||
Disclosure of geographical areas [line items] | ||
Revenue | 1,472,907 | 1,555,690 |
Revenue | 1,291,125 | 1,355,603 |
U.K. and Australia | U.K. | ||
Disclosure of geographical areas [line items] | ||
Revenue | 1,397,161 | 1,487,774 |
U.K. and Australia | Australia | ||
Disclosure of geographical areas [line items] | ||
Revenue | 75,746 | 67,916 |
Finland, Poland and Baltics | ||
Disclosure of geographical areas [line items] | ||
Revenue | 762,529 | 792,072 |
Revenue | 729,024 | 768,994 |
Finland, Poland and Baltics | Others | ||
Disclosure of geographical areas [line items] | ||
Revenue | 34,676 | 37,660 |
Finland, Poland and Baltics | Finland | ||
Disclosure of geographical areas [line items] | ||
Revenue | 727,853 | 754,412 |
Northwest and Central-East Europe | ||
Disclosure of geographical areas [line items] | ||
Revenue | 728,329 | 733,464 |
Revenue | 692,859 | 716,183 |
Northwest and Central-East Europe | Others | ||
Disclosure of geographical areas [line items] | ||
Revenue | 64,632 | 73,493 |
Northwest and Central-East Europe | Netherlands | ||
Disclosure of geographical areas [line items] | ||
Revenue | 494,227 | 479,597 |
Northwest and Central-East Europe | Denmark | ||
Disclosure of geographical areas [line items] | ||
Revenue | 114,849 | 124,553 |
Northwest and Central-East Europe | Czech Republic | ||
Disclosure of geographical areas [line items] | ||
Revenue | 54,621 | 55,821 |
Asia Pacific | ||
Disclosure of geographical areas [line items] | ||
Revenue | 4,460 | 4,774 |
Revenue | 799,661 | 680,554 |
Asia Pacific | Others | ||
Disclosure of geographical areas [line items] | ||
Revenue | $ 4,460 | $ 4,774 |
Segmented information - Discl_3
Segmented information - Disclosure of PP&E, contract costs and intangible assets information by location (Details) - CAD ($) $ in Thousands | Sep. 30, 2022 | Sep. 30, 2021 |
Disclosure of operating segments [line items] | ||
PP&E, contract costs and intangible assets | $ 1,782,300 | $ 1,675,654 |
U.S. | ||
Disclosure of operating segments [line items] | ||
PP&E, contract costs and intangible assets | 556,075 | 488,262 |
Canada | ||
Disclosure of operating segments [line items] | ||
PP&E, contract costs and intangible assets | 374,757 | 388,408 |
France | ||
Disclosure of operating segments [line items] | ||
PP&E, contract costs and intangible assets | 217,261 | 120,360 |
U.K. | ||
Disclosure of operating segments [line items] | ||
PP&E, contract costs and intangible assets | 112,924 | 132,897 |
Sweden | ||
Disclosure of operating segments [line items] | ||
PP&E, contract costs and intangible assets | 100,088 | 140,409 |
Finland | ||
Disclosure of operating segments [line items] | ||
PP&E, contract costs and intangible assets | 97,486 | 89,451 |
Germany | ||
Disclosure of operating segments [line items] | ||
PP&E, contract costs and intangible assets | 89,527 | 105,998 |
India | ||
Disclosure of operating segments [line items] | ||
PP&E, contract costs and intangible assets | 71,942 | 70,288 |
Netherlands | ||
Disclosure of operating segments [line items] | ||
PP&E, contract costs and intangible assets | 47,274 | 45,082 |
Rest of the world | ||
Disclosure of operating segments [line items] | ||
PP&E, contract costs and intangible assets | $ 114,966 | $ 94,499 |
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, 2022 | Sep. 30, 2021 | |
Disclosure of products and services [line items] | ||
Revenue | $ 12,867,201 | $ 12,126,793 |
Managed IT and business process services | ||
Disclosure of products and services [line items] | ||
Revenue | 6,980,988 | 6,722,967 |
Business and strategic IT consulting and systems integration services | ||
Disclosure of products and services [line items] | ||
Revenue | $ 5,886,213 | $ 5,403,826 |
Segmented information - Narrati
Segmented information - Narrative (Details) - CAD ($) $ in Thousands | 12 Months Ended | |
Sep. 30, 2022 | Sep. 30, 2021 | |
Disclosure of major customers [line items] | ||
Revenue | $ 12,867,201 | $ 12,126,793 |
U.S. Federal | ||
Disclosure of major customers [line items] | ||
Revenue | 1,750,902 | 1,607,431 |
U.S. Federal | Government | ||
Disclosure of major customers [line items] | ||
Revenue | $ 1,705,173 | $ 1,550,345 |
Percentage of revenues | 13.30% | 12.80% |
Related party transactions (Det
Related party transactions (Details) - CAD ($) $ in Thousands | 12 Months Ended | |
Sep. 30, 2022 | Sep. 30, 2021 | |
Related party transactions [abstract] | ||
Short-term employee benefits | $ 34,430 | $ 30,325 |
Share-based payments | $ 23,819 | $ 19,727 |
Commitments, contingencies an_3
Commitments, contingencies and guarantees - Commitments (Details) $ in Thousands | Sep. 30, 2022 CAD ($) |
Other Provisions, Contingent Liabilities And Contingent Assets [Abstract] | |
Minimum payments due under long-term service and other agreements | $ 250,049 |
Commitments, contingencies an_4
Commitments, contingencies and guarantees - Disclosure of minimum payments under long-term service and other agreements (Details) $ in Thousands | Sep. 30, 2022 CAD ($) |
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | |
Minimum payments due under long-term service and other agreements | $ 250,049 |
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 | 146,662 |
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 | 83,065 |
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 | 20,322 |
Beyond five years | |
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | |
Minimum payments due under long-term service and other agreements | $ 0 |
Commitments, contingencies an_5
Commitments, contingencies and guarantees - Guarantees (Details) $ in Thousands | Sep. 30, 2022 CAD ($) |
Disclosure of contingent liabilities [line items] | |
Letters of credit in addition to the letters of credit covered by the unsecured committed revolving credit facility | $ 67,566 |
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 | $ 19,259 |
Financial instruments - Financi
Financial instruments - Financial liabilities included in long-term debt (Details) - CAD ($) $ in Thousands | Sep. 30, 2022 | Sep. 30, 2021 |
Disclosure of financial liabilities [line items] | ||
Financial liabilities | $ 6,739,989 | $ 6,793,366 |
Carrying amount | ||
Disclosure of financial liabilities [line items] | ||
Financial liabilities | 2,579,329 | 2,768,033 |
Fair value | ||
Disclosure of financial liabilities [line items] | ||
Financial liabilities | 2,239,709 | 2,806,990 |
2014 U.S. Senior Notes | Carrying amount | ||
Disclosure of financial liabilities [line items] | ||
Financial liabilities | 550,177 | 888,307 |
2014 U.S. Senior Notes | Fair value | ||
Disclosure of financial liabilities [line items] | ||
Financial liabilities | 539,752 | 936,084 |
2021 U.S. Senior Notes | Carrying amount | ||
Disclosure of financial liabilities [line items] | ||
Financial liabilities | 1,361,974 | 1,253,226 |
2021 U.S. Senior Notes | Fair value | ||
Disclosure of financial liabilities [line items] | ||
Financial liabilities | 1,127,739 | 1,255,055 |
2021 CAD Senior Notes | Carrying amount | ||
Disclosure of financial liabilities [line items] | ||
Financial liabilities | 595,900 | 595,331 |
2021 CAD Senior Notes | Fair value | ||
Disclosure of financial liabilities [line items] | ||
Financial liabilities | 503,227 | 585,506 |
Other long-term debt | Carrying amount | ||
Disclosure of financial liabilities [line items] | ||
Financial liabilities | 71,278 | 31,169 |
Other long-term debt | Fair value | ||
Disclosure of financial liabilities [line items] | ||
Financial liabilities | $ 68,991 | $ 30,345 |
Financial instruments - Narrati
Financial instruments - Narrative (Details) - CAD ($) $ in Thousands | 12 Months Ended | |
Sep. 30, 2022 | Sep. 30, 2021 | |
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Borrowings | $ 3,267,034 | $ 3,401,656 |
Settlement of derivative financial instruments | 6,258 | (6,992) |
Cash and cash equivalents, funds held for clients, short-term investments and long-term investments | 1,588,307 | 2,312,741 |
Available credit facility | 1,495,730 | 1,493,372 |
Trade receivables | 1,106,187 | $ 938,417 |
Settled cross-currency swap agreement | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Notional amount | $ 69,300 | |
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% | |
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% | |
Senior U.S. Unsecured Notes [Member] | Currency risk | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Borrowings | $ 1,547,617 | |
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] | ||
Notional amount | 600,000 | |
Hedges of net investments in European operations | Currency risk | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Notional amount | 1,547,680 | |
At fair value | Settled cross-currency swap agreement | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Settlement of derivative financial instruments | $ 6,258 |
Financial instruments - Fair va
Financial instruments - Fair value measurement of financial assets and liabilities (Details) - At fair value - CAD ($) $ in Thousands | Sep. 30, 2022 | Sep. 30, 2021 |
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Derivative financial liabilities | $ 12,190 | $ 48,281 |
FVTE | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial assets | 1,543,047 | 2,237,364 |
Derivative financial instruments designated as hedging instruments | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial assets | 117,123 | 157,010 |
Derivative financial assets | 265,551 | 51,512 |
Cash and cash equivalents | FVTE | Level 2 | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial assets | 966,458 | 1,699,206 |
Cash included in funds held for clients (Note 5) | FVTE | Level 2 | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial assets | 504,726 | 456,525 |
Deferred compensation plan assets (Note 11) | FVTE | Level 1 | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial assets | 71,863 | 81,633 |
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 | 6,184 | 1,027 |
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 | 94,113 | 136,629 |
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 | 16,826 | 19,354 |
Cross-currency swaps | Current derivative financial instruments included in current financial assets | Level 2 | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Derivative financial liabilities | 0 | 5,762 |
Cross-currency swaps | Long-term derivative financial instruments (Note 11) | Level 2 | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Derivative financial liabilities | 1,685 | 39,918 |
Cross-currency swaps | 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] | ||
Derivative financial assets | 8,740 | 4,146 |
Cross-currency swaps | 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] | ||
Derivative financial assets | 222,246 | 24,347 |
Foreign currency forward contracts | Current derivative financial instruments included in current financial assets | Level 2 | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Derivative financial liabilities | 5,710 | 735 |
Foreign currency forward contracts | Long-term derivative financial instruments (Note 11) | Level 2 | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Derivative financial liabilities | 4,795 | 1,866 |
Foreign currency forward contracts | 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] | ||
Derivative financial assets | 18,934 | 12,745 |
Foreign currency forward contracts | 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] | ||
Derivative financial assets | 15,631 | 9,231 |
Interest rate swaps | 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] | ||
Derivative financial assets | $ 0 | $ 1,043 |
Financial instruments - Finan_2
Financial instruments - Financial instruments by type or interest rate (Details) $ in Thousands, $ in Thousands | Sep. 30, 2022 CAD ($) | Sep. 30, 2022 USD ($) | Sep. 30, 2021 CAD ($) |
Disclosure of information about credit exposures designated as measured at fair value through profit or loss [line items] | |||
Assets | $ 15,175,420 | $ 15,021,021 | |
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 | ||
Receive Rate | 4.99% | 4.99% | |
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 | $ 0 | $ 1,043 |
Financial instruments - Cross-c
Financial instruments - Cross-currency swap agreements (Details) € in Thousands, £ in Thousands, kr in Thousands, $ in Thousands, $ in Thousands | Sep. 30, 2022 CAD ($) | Sep. 30, 2022 EUR (€) | Sep. 30, 2022 GBP (£) | Sep. 30, 2022 SEK (kr) | Sep. 30, 2022 USD ($) | Sep. 30, 2021 CAD ($) |
Cross-currency swaps | ||||||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||||||
Hedges of net investments in European operations | $ 229,301 | $ (17,187) | ||||
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 | 78,647 | 12,859 | ||||
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 | 759,400 | |||||
Pay Notional | € | € 521,337 | |||||
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 | 24,247 | 9,814 | ||||
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 | 12,625 | 5,820 | ||||
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 | $ 104,330 | (27,819) | ||||
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% | 1% | 1% | 1% | 1% | |
Pay Notional | € | € 443,381 | |||||
Cash flow hedges of 2014 U.S Senior 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 2014 U.S Senior Notes | $ 9,452 | $ 17,861 | ||||
Cash flow hedges of 2014 U.S Senior 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 | $ 265,000 | |||||
Pay Notional | $ 354,093 | |||||
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 | 1.62% | 1.62% | 1.62% | 1.62% | 1.62% | |
Pay rate | (0.14%) | (0.14%) | (0.14%) | (0.14%) | (0.14%) | |
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 2014 U.S Senior 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 | 3.45% | 3.45% | 3.45% | 3.45% | 3.45% | |
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 2014 U.S Senior 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, 2022 CAD ($) | Sep. 30, 2022 USD ($) | Sep. 30, 2022 EUR (€) | Sep. 30, 2022 GBP (£) | Sep. 30, 2022 SEK (kr) | Sep. 30, 2021 CAD ($) |
USD/INR | ||||||
Disclosure of detailed information about hedges [line items] | ||||||
Notional amount | $ 227,289 | |||||
USD/INR | Less than one year | ||||||
Disclosure of detailed information about hedges [line items] | ||||||
Average rate of hedging instrument | 80.99% | 80.99% | 80.99% | 80.99% | 80.99% | |
USD/INR | More than one year | ||||||
Disclosure of detailed information about hedges [line items] | ||||||
Average rate of hedging instrument | 83.17% | 83.17% | 83.17% | 83.17% | 83.17% | |
CAD/INR | ||||||
Disclosure of detailed information about hedges [line items] | ||||||
Notional amount | $ 302,557 | |||||
CAD/INR | Less than one year | ||||||
Disclosure of detailed information about hedges [line items] | ||||||
Average rate of hedging instrument | 62.40% | 62.40% | 62.40% | 62.40% | 62.40% | |
CAD/INR | More than one year | ||||||
Disclosure of detailed information about hedges [line items] | ||||||
Average rate of hedging instrument | 64.41% | 64.41% | 64.41% | 64.41% | 64.41% | |
EUR/INR | ||||||
Disclosure of detailed information about hedges [line items] | ||||||
Notional amount | € | € 67,895 | |||||
EUR/INR | Less than one year | ||||||
Disclosure of detailed information about hedges [line items] | ||||||
Average rate of hedging instrument | 96.28% | 96.28% | 96.28% | 96.28% | 96.28% | |
EUR/INR | More than one year | ||||||
Disclosure of detailed information about hedges [line items] | ||||||
Average rate of hedging instrument | 95.93% | 95.93% | 95.93% | 95.93% | 95.93% | |
GBP/INR | ||||||
Disclosure of detailed information about hedges [line items] | ||||||
Notional amount | £ | £ 61,686 | |||||
GBP/INR | Less than one year | ||||||
Disclosure of detailed information about hedges [line items] | ||||||
Average rate of hedging instrument | 106.91% | 106.91% | 106.91% | 106.91% | 106.91% | |
GBP/INR | More than one year | ||||||
Disclosure of detailed information about hedges [line items] | ||||||
Average rate of hedging instrument | 105.62% | 105.62% | 105.62% | 105.62% | 105.62% | |
SEK/INR | ||||||
Disclosure of detailed information about hedges [line items] | ||||||
Notional amount | kr | kr 49,908 | |||||
SEK/INR | Less 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% | |
SEK/INR | More than one year | ||||||
Disclosure of detailed information about hedges [line items] | ||||||
Average rate of hedging instrument | 7.40% | 7.40% | 7.40% | 7.40% | 7.40% | |
EUR/MAD | ||||||
Disclosure of detailed information about hedges [line items] | ||||||
Notional amount | € | € 22,190 | |||||
EUR/MAD | Less than one year | ||||||
Disclosure of detailed information about hedges [line items] | ||||||
Average rate of hedging instrument | 11% | 11% | 11% | 11% | 11% | |
EUR/MAD | More than one year | ||||||
Disclosure of detailed information about hedges [line items] | ||||||
Average rate of hedging instrument | 10.70% | 10.70% | 10.70% | 10.70% | 10.70% | |
EUR/CZK | ||||||
Disclosure of detailed information about hedges [line items] | ||||||
Notional amount | € | € 7,082 | |||||
EUR/CZK | Less than one year | ||||||
Disclosure of detailed information about hedges [line items] | ||||||
Average rate of hedging instrument | 26.80% | 26.80% | 26.80% | 26.80% | 26.80% | |
EUR/CZK | More than one year | ||||||
Disclosure of detailed information about hedges [line items] | ||||||
Average rate of hedging instrument | 26.87% | 26.87% | 26.87% | 26.87% | 26.87% | |
EUR/SEK | ||||||
Disclosure of detailed information about hedges [line items] | ||||||
Notional amount | € | € 7,241 | |||||
EUR/SEK | Less than one year | ||||||
Disclosure of detailed information about hedges [line items] | ||||||
Average rate of hedging instrument | 10.77% | 10.77% | 10.77% | 10.77% | 10.77% | |
EUR/SEK | More than one year | ||||||
Disclosure of detailed information about hedges [line items] | ||||||
Average rate of hedging instrument | 10.36% | 10.36% | 10.36% | 10.36% | 10.36% | |
Others | ||||||
Disclosure of detailed information about hedges [line items] | ||||||
Notional amount | $ 65,935 | |||||
At fair value | ||||||
Disclosure of detailed information about hedges [line items] | ||||||
Hedging instrument, assets | 24,060 | $ 19,375 | ||||
At fair value | USD/INR | ||||||
Disclosure of detailed information about hedges [line items] | ||||||
Hedging instrument, assets | 4,002 | |||||
Hedged item, liabilities | (7,803) | |||||
At fair value | CAD/INR | ||||||
Disclosure of detailed information about hedges [line items] | ||||||
Hedging instrument, assets | 7,865 | 882 | ||||
At fair value | EUR/INR | ||||||
Disclosure of detailed information about hedges [line items] | ||||||
Hedging instrument, assets | 11,690 | 6,650 | ||||
At fair value | GBP/INR | ||||||
Disclosure of detailed information about hedges [line items] | ||||||
Hedging instrument, assets | 12,753 | 2,390 | ||||
At fair value | SEK/INR | ||||||
Disclosure of detailed information about hedges [line items] | ||||||
Hedging instrument, assets | 1,047 | |||||
Hedged item, liabilities | (10) | |||||
At fair value | EUR/GBP | ||||||
Disclosure of detailed information about hedges [line items] | ||||||
Hedging instrument, assets | 0 | 1,033 | ||||
At fair value | EUR/MAD | ||||||
Disclosure of detailed information about hedges [line items] | ||||||
Hedging instrument, assets | 2,064 | |||||
Hedged item, liabilities | (201) | |||||
At fair value | EUR/CZK | ||||||
Disclosure of detailed information about hedges [line items] | ||||||
Hedging instrument, assets | 611 | 758 | ||||
At fair value | EUR/SEK | ||||||
Disclosure of detailed information about hedges [line items] | ||||||
Hedging instrument, assets | 1,396 | |||||
Hedged item, liabilities | (148) | |||||
At fair value | Others | ||||||
Disclosure of detailed information about hedges [line items] | ||||||
Hedging instrument, assets | $ 210 | |||||
Hedged item, liabilities | $ (1,754) |
Financial instruments - Sensiti
Financial instruments - Sensitivity analysis (Details) - Currency risk - CAD ($) $ in Thousands | 12 Months Ended | |
Sep. 30, 2022 | Sep. 30, 2021 | |
euro impact | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Increase in net earnings | $ 2,835 | $ 1,294 |
Decrease in other comprehensive loss | (183,986) | (83,334) |
U.S. dollar impact | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Increase in net earnings | 3,604 | 1,416 |
Decrease in other comprehensive loss | (179,780) | (187,587) |
British pound impact | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Increase in net earnings | 622 | 1,227 |
Decrease in other comprehensive loss | (31,700) | (25,622) |
Swedish krona impact | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Increase in net earnings | 883 | 171 |
Decrease in other comprehensive loss | $ (8,577) | $ (8,287) |
Financial instruments - Maturit
Financial instruments - Maturity analysis for financial liabilities (Details) - CAD ($) $ in Thousands | Sep. 30, 2022 | Sep. 30, 2021 |
Disclosure Of Maturity Analysis For Derivative And Non-Derivative Financial Liabilities [Line Items] | ||
Accounts payable and accrued liabilities | $ 1,016,407 | $ 891,374 |
Accrued compensation and employee-related liabilities | 1,130,726 | 1,084,014 |
Borrowings | 3,267,034 | 3,401,656 |
Clients’ funds obligations | 604,431 | 591,101 |
Financial liabilities | 6,739,989 | 6,793,366 |
Accounts payable and accrued liabilities, contractual cash flows | 1,016,407 | 891,374 |
Accrued compensation and employee related liabilities, contractual cash flows | 1,130,726 | 1,084,014 |
Clients' funds obligations, contractual cash flows | 604,431 | 591,101 |
Financial liabilities, contractual cash flows | 7,160,456 | 7,241,384 |
2014 U.S. Senior Notes | ||
Disclosure Of Maturity Analysis For Derivative And Non-Derivative Financial Liabilities [Line Items] | ||
Borrowings | 550,177 | |
Borrowings, contractual cash flows | 591,467 | |
2011 & 2014 U.S. Senior Notes | ||
Disclosure Of Maturity Analysis For Derivative And Non-Derivative Financial Liabilities [Line Items] | ||
Borrowings | 888,307 | |
Borrowings, contractual cash flows | 955,768 | |
2021 U.S. Senior Notes | ||
Disclosure Of Maturity Analysis For Derivative And Non-Derivative Financial Liabilities [Line Items] | ||
Borrowings | 1,361,974 | 1,253,226 |
Borrowings, contractual cash flows | 1,537,370 | 1,439,360 |
2021 CAD Senior Notes | ||
Disclosure Of Maturity Analysis For Derivative And Non-Derivative Financial Liabilities [Line Items] | ||
Borrowings | 595,900 | 595,331 |
Borrowings, contractual cash flows | 675,600 | 688,269 |
Unsecured committed term loan credit facility | ||
Disclosure Of Maturity Analysis For Derivative And Non-Derivative Financial Liabilities [Line Items] | ||
Borrowings | 687,705 | 633,623 |
Borrowings, contractual cash flows | 721,807 | 649,498 |
Lease liabilities | ||
Disclosure Of Maturity Analysis For Derivative And Non-Derivative Financial Liabilities [Line Items] | ||
Lease liabilities | 709,201 | 776,940 |
Lease liabilities, undiscounted cash flows | 808,445 | 877,498 |
Other long-term debt | ||
Disclosure Of Maturity Analysis For Derivative And Non-Derivative Financial Liabilities [Line Items] | ||
Borrowings | 71,278 | 31,169 |
Borrowings, contractual cash flows | 80,324 | 32,071 |
Cash flow hedges of future revenue | ||
Disclosure Of Maturity Analysis For Derivative And Non-Derivative Financial Liabilities [Line Items] | ||
Derivative financial liabilities | 10,505 | 2,601 |
Derivative financial liabilities, contractual cash flows | 304,698 | 163,162 |
Derivative financial assets, contractual cash flows | (311,446) | (171,282) |
Cross-currency swaps | ||
Disclosure Of Maturity Analysis For Derivative And Non-Derivative Financial Liabilities [Line Items] | ||
Derivative financial liabilities | 1,685 | 45,680 |
Derivative financial liabilities, contractual cash flows | 168,213 | 1,128,791 |
Derivative financial assets, contractual cash flows | (167,586) | (1,088,240) |
Less than one year | ||
Disclosure Of Maturity Analysis For Derivative And Non-Derivative Financial Liabilities [Line Items] | ||
Accounts payable and accrued liabilities, contractual cash flows | 1,016,407 | 891,374 |
Accrued compensation and employee related liabilities, contractual cash flows | 1,130,726 | 1,084,014 |
Clients' funds obligations, contractual cash flows | 604,431 | 591,101 |
Financial liabilities, contractual cash flows | 3,116,826 | 3,230,686 |
Less than one year | 2014 U.S. Senior Notes | ||
Disclosure Of Maturity Analysis For Derivative And Non-Derivative Financial Liabilities [Line Items] | ||
Borrowings, contractual cash flows | 90,680 | |
Less than one year | 2011 & 2014 U.S. Senior Notes | ||
Disclosure Of Maturity Analysis For Derivative And Non-Derivative Financial Liabilities [Line Items] | ||
Borrowings, contractual cash flows | 410,738 | |
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 | 24,623 | 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 | 12,600 | 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 | 27,053 | 7,043 |
Less than one year | Lease liabilities | ||
Disclosure Of Maturity Analysis For Derivative And Non-Derivative Financial Liabilities [Line Items] | ||
Lease liabilities, undiscounted cash flows | 182,815 | 192,750 |
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 | 25,843 | 13,133 |
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 | 110,827 | 55,039 |
Derivative financial assets, contractual cash flows | (109,319) | (55,756) |
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 | 74,902 | 91,667 |
Derivative financial assets, contractual cash flows | (74,762) | (85,776) |
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 | 1,569,154 | 1,623,134 |
Between one and three years | 2014 U.S. Senior Notes | ||
Disclosure Of Maturity Analysis For Derivative And Non-Derivative Financial Liabilities [Line Items] | ||
Borrowings, contractual cash flows | 500,787 | |
Between one and three years | 2011 & 2014 U.S. Senior Notes | ||
Disclosure Of Maturity Analysis For Derivative And Non-Derivative Financial Liabilities [Line Items] | ||
Borrowings, contractual cash flows | 545,030 | |
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 | 49,246 | 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 | 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 | 694,754 | 642,455 |
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 | 295,017 | 318,993 |
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 | 11,919 | 18,337 |
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 | 193,871 | 103,373 |
Derivative financial assets, contractual cash flows | (202,127) | (110,294) |
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 | 93,311 | 1,037,124 |
Derivative financial assets, contractual cash flows | (92,824) | (1,002,464) |
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 | 1,097,244 | 1,011,846 |
Between three and five years | 2014 U.S. Senior Notes | ||
Disclosure Of Maturity Analysis For Derivative And Non-Derivative Financial Liabilities [Line Items] | ||
Borrowings, contractual cash flows | 0 | |
Between three and five years | 2011 & 2014 U.S. Senior Notes | ||
Disclosure Of Maturity Analysis For Derivative And Non-Derivative Financial Liabilities [Line Items] | ||
Borrowings, contractual cash flows | 0 | |
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 | 862,639 | 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 | 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 | 0 |
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 | 166,848 | 180,593 |
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 | 42,557 | 595 |
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 | 0 | 4,750 |
Derivative financial assets, contractual cash flows | 0 | (5,232) |
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 | 0 |
Derivative financial assets, contractual cash flows | 0 | 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 | 1,377,232 | 1,375,718 |
Beyond five years | 2014 U.S. Senior Notes | ||
Disclosure Of Maturity Analysis For Derivative And Non-Derivative Financial Liabilities [Line Items] | ||
Borrowings, contractual cash flows | 0 | |
Beyond five years | 2011 & 2014 U.S. Senior Notes | ||
Disclosure Of Maturity Analysis For Derivative And Non-Derivative Financial Liabilities [Line Items] | ||
Borrowings, contractual cash flows | 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 | 600,862 | 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 | 612,600 | 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 | 163,765 | 185,162 |
Beyond five years | Other long-term debt | ||
Disclosure Of Maturity Analysis For Derivative And Non-Derivative Financial Liabilities [Line Items] | ||
Borrowings, contractual cash flows | 5 | 6 |
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 |
Financial instruments - Disclos
Financial instruments - Disclosure of analysis of age of trade accounts receivable (Details) - Trade accounts receivable - CAD ($) $ in Thousands | Sep. 30, 2022 | Sep. 30, 2021 |
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | $ 1,106,187 | $ 938,417 |
Cost | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 1,109,647 | 942,145 |
Cost | Not past due | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 950,928 | 818,520 |
Cost | Past due 1-30 days | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 81,000 | 47,702 |
Cost | Past due 31-60 days | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 25,694 | 21,582 |
Cost | Past due 61-90 days | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 12,142 | 7,402 |
Cost | Past due more than 90 days | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 39,883 | 46,939 |
Allowance for doubtful accounts | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | $ (3,460) | $ (3,728) |
Capital risk management (Detail
Capital risk management (Details) - CAD ($) $ in Thousands | Sep. 30, 2022 | Sep. 30, 2021 |
Capital Risk Management [Abstract] | ||
Total managed capital | $ 12,238,427 | $ 12,884,415 |