XML 80 R27.htm IDEA: XBRL DOCUMENT v3.24.1
Income Taxes (Tables)
 12 Months Ended
Feb. 29, 2024
Income Tax Disclosure [Abstract]  
Components of Provision for (Recovery of) Income Tax and Income from Continuing Operations Before Income Tax
The difference between the amount of the provision for (recovery of) income taxes and the amount computed by multiplying income (loss) before income taxes by the statutory Canadian tax rate is reconciled as follows:
 For the Years Ended
 February 29, 2024February 28, 2023February 28, 2022
Statutory Canadian tax rate26.5 %26.5 %26.5 %
Expected provision for (recovery of) income taxes$(28)$(191)$5 
Differences in income taxes resulting from:
Valuation allowance28 125 (9)
Investment tax credits(11)(10)7 
Change in unrecognized income tax benefits(1)1 (2)
Foreign tax rate differences4 10 3 
Non-deductible permanent differences8 5 3 
Goodwill impairment 9 65 — 
Prior period adjustments9 4 (1)
Other differences6 5 1 
$24 $14 $7 
Income (Loss) from Continuing Operations Before Income Taxes
 For the Years Ended
 February 29, 2024February 28, 2023February 28, 2022
Income (loss) before income taxes:
Canadian$(18)$(128)$133 
Foreign(88)(592)(114)
$(106)$(720)$19 
Provision for Income Taxes from Continuing Operations
The provision for (recovery of) income taxes consists of the following:
 For the Years Ended
 February 29, 2024February 28, 2023February 28, 2022
Current
Canadian$2 $1 $(1)
Foreign22 13 8 
$24 $14 $7 
Components of Deferred Income Tax Assets and Liabilities
Deferred income tax assets and liabilities consist of the following temporary differences:
 As at
 February 29, 2024February 28, 2023
Assets
Property, plant, equipment and intangibles assets$258 $264 
Non-deductible reserves37 44 
Minimum taxes207 207 
Debentures (note 6)
— 1 
Research and development402 390 
Tax loss carryforwards514 495 
Other125 122 
Deferred income tax assets1,543 1,523 
Valuation allowance1,520 1,492 
Deferred income tax assets net of valuation allowance23 31 
Liabilities
Property, plant, equipment and intangibles assets(23)(31)
Deferred income tax liabilities(23)(31)
Net deferred income tax asset (liability)$— $— 
Reconciliation of Beginning and Ending Amount of Unrecognized Income Tax Benefits
The Company’s total unrecognized income tax benefits as at February 29, 2024 and February 28, 2023 were $20 million and $21 million, respectively. A reconciliation of the beginning and ending amount of unrecognized income tax benefits that, if recognized, would affect the Company’s effective income tax rate is as follows:
For the Years Ended
February 29, 2024February 28, 2023February 28, 2022
Unrecognized income tax benefits, opening balance$21 $20 $24 
Increase for income tax positions of current year1 1 — 
Settlement of tax positions(2)— (4)
Unrecognized income tax benefits, ending balance$20 $21 $20 
Summary of Open Tax Years by Major Jurisdiction
A summary of open tax years by major jurisdiction is presented below:
Jurisdiction
Canada (1)
Fiscal 2016 - 2024
United States (2)
Fiscal 2021 - 2024
United Kingdom
Fiscal 2023 - 2024
______________________________
(1)    Includes federal as well as provincial jurisdictions, as applicable.
(2)     Pertains to federal tax years. Certain state jurisdictions remain open from fiscal 2020 through fiscal 2024.
Summary of Net Operating Losses and Tax Credits Carryforward
As at February 29, 2024, the Company has the following net operating loss carryforwards and tax credits, which are scheduled to expire in the following years:
Year of ExpiryNet Operating Losses
Research and Development Tax Credits (1)
Minimum Taxes
2029$10 $— $1 
2030— — 108 
20311 12 72 
203228 1 22 
203388 133 — 
203496 124 — 
203592 52 4 
2036326 40 — 
2037492 23 — 
2038199 17 — 
203913 14 — 
20403 13 — 
2041— 8 — 
2042— 11 — 
2043182 14 — 
2044— 12 — 
Indefinite422 22 — 
$1,952 $496 $207 
______________________________
(1)    Includes federal, provincial and state balances.