Income Taxes (Tables)

12 Months Ended

Feb. 28, 2025

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 28, 2025			February 29, 2024			February 28, 2023
Statutory Canadian tax rate (1)	26.5		%	26.5		%	26.5		%
Expected provision for (recovery of) income taxes	$	2.3		$	7.9		$	(53.5)
Differences in income taxes resulting from:
Valuation allowance	1.6			(3.3)			23.3
Investment tax credits	(8.1)			(10.0)			(10.5)
Change in unrecognized income tax benefits	(0.1)			(1.1)			0.7
Foreign tax rate differences	5.9			4.5			10.1
Non-deductible permanent differences	8.8			7.7			5.4
Goodwill de-recognition	—			4.2			29.7
Prior period adjustments	(0.4)			8.6			4.0
Other differences	7.0			5.7			4.5
	$	17.0		$	24.2		$	13.7

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(1) Our Canadian corporate tax rate is comprised of a basic Part I federal tax rate of 38%, net 15% after federal tax abatement and general tax reduction, plus the additional provincial tax of 11.5%.

Income (Loss) from Continuing Operations Before Income Taxes

	For the Years Ended
	February 28, 2025		February 29, 2024		February 28, 2023
Income (loss) before income taxes:
Canadian	$	(9.1)	$	(18.3)	$	(128.0)
Foreign	17.6		48.1		(73.8)
	$	8.5	$	29.8	$	(201.8)

Provision for Income Taxes from Continuing Operations

The provision for (recovery of) income taxes consists of the following:

	For the Years Ended
	February 28, 2025		February 29, 2024		February 28, 2023
Current
Canadian	$	5.3	$	2.2	$	0.4
Foreign	11.7		22.0		13.3
	$	17.0	$	24.2	$	13.7

Components of Deferred Income Tax Assets and Liabilities

Deferred income tax assets and liabilities consist of the following temporary differences:

	As at
	February 28, 2025		February 29, 2024
Assets
Property, plant, equipment and intangibles assets	$	263.3	$	257.6
Non-deductible reserves	21.3		36.9
Minimum taxes	206.7		206.7
Research and development	410.5		402.4
Tax loss carryforwards	474.7		513.6
Other	141.3		124.9
Deferred income tax assets	1,517.8		1,542.1
Valuation allowance	1,517.2		1,519.7
Deferred income tax assets net of valuation allowance	0.6		22.4
Liabilities
Property, plant, equipment and intangibles assets	0.6		22.4
Deferred income tax liabilities	0.6		22.4
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 28, 2025 and February 29, 2024 were $19.5 million and $19.6 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 28, 2025		February 29, 2024		February 28, 2023
Unrecognized income tax benefits, opening balance	$	19.6	$	20.6	$	19.9
Increase for income tax positions of current year	0.2		1.0		0.7
Settlement of tax positions	(0.3)		(2.0)		—
Unrecognized income tax benefits, ending balance	$	19.5	$	19.6	$	20.6

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 - 2025
United States (2)	Fiscal 2022 - 2025
United Kingdom	Fiscal 2024 - 2025
Germany	Fiscal 2020 - 2025

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(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 2025.

Summary of Net Operating Losses and Tax Credits Carryforward

As at February 28, 2025, the Company has the following net operating loss carryforwards and tax credits, which are scheduled to expire in the following years:

Year of Expiry	Net Operating Losses		Research and Development Tax Credits (1)		Minimum Taxes
2029	$	—	$	—	$	1.1
2030	—		—		107.8
2031	—		11.5		71.7
2032	27.4		0.7		22.2
2033	80.5		132.7		0.2
2034	85.5		123.9		0.1
2035	81.0		51.9		3.6
2036	249.0		39.7		—
2037	492.5		23.7		—
2038	199.3		17.3		—
2039	13.1		14.6		—
2040	3.3		12.9		—
2041	—		8.3		—
2042	—		10.5		—
2043	181.6		13.6		—
2044	—		12.8		—
2045	—		9.6		—
Indefinite	417.9		20.9		—
	$	1,831.1	$	504.6	$	206.7

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(1)    Includes federal, provincial and state balances.