Financial instruments (Tables)
|
12 Months Ended |
Sep. 30, 2025 |
|---|
| 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, 2025 |
As at September 30, 2024 |
|
Level |
Carrying amount |
Fair value |
Carrying amount |
Fair value |
| |
|
$ |
$ |
$ |
$ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 2021 U.S. Senior Notes |
Level 2 |
1,386,564 |
|
1,310,044 |
|
1,342,758 |
|
1,223,120 |
|
| 2021 CAD Senior Notes |
Level 2 |
597,892 |
|
580,561 |
|
597,212 |
|
564,768 |
|
| 2024 CAD Senior Notes |
Level 2 |
747,001 |
|
766,844 |
|
746,144 |
|
759,375 |
|
| 2025 U.S. Senior Notes |
Level 2 |
894,509 |
|
930,366 |
|
— |
|
— |
|
| Other long-term debt |
Level 2 |
11,869 |
|
11,892 |
|
2,194 |
|
2,119 |
|
|
|
3,637,835 |
|
3,599,707 |
|
2,688,308 |
|
2,549,382 |
|
|
| 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, 2025 |
As at September 30, 2024 |
|
|
$ |
$ |
| Financial assets |
|
|
|
|
|
| FVTE |
|
|
|
|
|
| Cash and cash equivalents |
Level 2 |
|
864,209 |
|
|
1,461,145 |
|
Cash included in funds held for clients (Note 5) |
Level 2 |
|
704,503 |
|
|
233,584 |
|
Deferred compensation plan assets (Note 11) |
Level 1 |
|
125,388 |
|
|
112,270 |
|
|
|
|
1,694,100 |
|
|
1,806,999 |
|
Derivative financial instruments designated as
hedging instruments |
|
|
|
|
|
| Current derivative financial instruments included in current financial assets |
Level 2 |
|
|
|
|
Cross-currency swaps |
|
|
1,011 |
|
|
— |
|
Foreign currency forward contracts |
|
|
1,481 |
|
|
5,055 |
|
|
|
|
|
|
|
Long-term derivative financial instruments (Note 11) |
Level 2 |
|
|
|
|
Cross-currency swaps |
|
|
395 |
|
|
— |
|
| Foreign currency forward contracts |
|
|
459 |
|
|
2,644 |
|
|
|
|
|
|
|
|
|
|
3,346 |
|
|
7,699 |
|
| FVOCI |
|
|
|
|
|
| Short-term investments included in current financial assets |
Level 2 |
|
3,675 |
|
|
3,279 |
|
Long-term bonds included in funds held for clients (Note 5) |
Level 2 |
|
240,932 |
|
|
223,196 |
|
Long-term investments (Note 11) |
Level 2 |
|
27,687 |
|
|
24,209 |
|
|
|
|
272,294 |
|
|
250,684 |
|
| Financial liabilities |
|
|
|
|
|
Derivative financial instruments designated as
hedging instruments |
|
|
|
|
|
| Current derivative financial instruments |
Level 2 |
|
|
|
|
Cross-currency swaps |
|
|
3,036 |
|
|
— |
|
Foreign currency forward contracts |
|
|
21,586 |
|
|
13,073 |
|
|
|
|
|
|
|
| Long-term derivative financial instruments |
Level 2 |
|
|
|
|
Cross-currency swaps |
|
|
136,155 |
|
|
9,500 |
|
Foreign currency forward contracts |
|
|
36,950 |
|
|
10,204 |
|
|
|
|
|
|
|
|
|
|
197,727 |
|
|
32,777 |
|
|
| 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, 2025 |
As at September 30, 2024 |
|
|
$ |
$ |
| Financial assets |
|
|
|
|
|
| FVTE |
|
|
|
|
|
| Cash and cash equivalents |
Level 2 |
|
864,209 |
|
|
1,461,145 |
|
Cash included in funds held for clients (Note 5) |
Level 2 |
|
704,503 |
|
|
233,584 |
|
Deferred compensation plan assets (Note 11) |
Level 1 |
|
125,388 |
|
|
112,270 |
|
|
|
|
1,694,100 |
|
|
1,806,999 |
|
Derivative financial instruments designated as
hedging instruments |
|
|
|
|
|
| Current derivative financial instruments included in current financial assets |
Level 2 |
|
|
|
|
Cross-currency swaps |
|
|
1,011 |
|
|
— |
|
Foreign currency forward contracts |
|
|
1,481 |
|
|
5,055 |
|
|
|
|
|
|
|
Long-term derivative financial instruments (Note 11) |
Level 2 |
|
|
|
|
Cross-currency swaps |
|
|
395 |
|
|
— |
|
| Foreign currency forward contracts |
|
|
459 |
|
|
2,644 |
|
|
|
|
|
|
|
|
|
|
3,346 |
|
|
7,699 |
|
| FVOCI |
|
|
|
|
|
| Short-term investments included in current financial assets |
Level 2 |
|
3,675 |
|
|
3,279 |
|
Long-term bonds included in funds held for clients (Note 5) |
Level 2 |
|
240,932 |
|
|
223,196 |
|
Long-term investments (Note 11) |
Level 2 |
|
27,687 |
|
|
24,209 |
|
|
|
|
272,294 |
|
|
250,684 |
|
| Financial liabilities |
|
|
|
|
|
Derivative financial instruments designated as
hedging instruments |
|
|
|
|
|
| Current derivative financial instruments |
Level 2 |
|
|
|
|
Cross-currency swaps |
|
|
3,036 |
|
|
— |
|
Foreign currency forward contracts |
|
|
21,586 |
|
|
13,073 |
|
|
|
|
|
|
|
| Long-term derivative financial instruments |
Level 2 |
|
|
|
|
Cross-currency swaps |
|
|
136,155 |
|
|
9,500 |
|
Foreign currency forward contracts |
|
|
36,950 |
|
|
10,204 |
|
|
|
|
|
|
|
|
|
|
197,727 |
|
|
32,777 |
|
|
| 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
September 30, 2025 |
As at
September 30, 2024 |
| Receive Notional |
Receive Rate |
Pay Notional |
Pay rate |
Maturity |
Fair value |
Fair value |
|
|
|
|
|
$ |
$ |
| Hedges of net investments in European operations |
| $1,270,000 |
From 1.62% to 4.15% |
€866,365 |
From (0.14)% to 3.70% |
From September 2027 to 2029 |
(109,168) |
|
(7,806) |
|
| $80,000 |
4.15% |
SEK609,940 |
From 3.49% to 3.51% |
September 2029 |
(9,090) |
|
(1,694) |
|
Hedges of net investments in European operations and cash flow hedges on the 2021 U.S. Senior Notes
|
| U.S.$63,500 |
From 1.45% to 2.30% |
SEK619,583 |
From (0.73)% to 1.01% |
From September 2026 to 2031 |
(2,448) |
|
— |
|
| U.S.$11,500 |
From 1.45% to 2.30% |
DKK73,986 |
From (1.01)% to 0.85% |
From September 2026 to 2031 |
(54) |
|
— |
|
| Cash flow hedges on the 2025 U.S. Senior Notes |
| U.S.$650,000 |
4.95% |
$933,985 |
3.71% |
March 2030 |
(17,025) |
|
— |
|
| Total |
|
|
|
|
(137,785) |
|
(9,500) |
|
|
| Disclosure of notional, average contract rates, maturities and sensitivity analysis for currency risk |
As at September 30, 2025, 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
September 30, 2025 |
As at
September 30, 2024 |
Foreign currency forward contracts |
Notional |
Less than one year |
More than one year |
Fair value |
Fair value |
|
|
|
|
$ |
$ |
| USD/INR |
U.S.$482,362 |
87.72 |
92.05 |
(16,732) |
|
2,091 |
|
| CAD/INR |
$458,999 |
64.89 |
68.22 |
(5,425) |
|
314 |
|
| EUR/INR |
€170,890 |
99.00 |
107.80 |
(17,312) |
|
(1,156) |
|
| GBP/INR |
£129,282 |
112.00 |
120.29 |
(12,921) |
|
(8,700) |
|
| SEK/INR |
kr258,452 |
8.72 |
9.63 |
(3,075) |
|
(720) |
|
| GBP/EUR |
£104,627 |
1.15 |
— |
223 |
|
(5,763) |
|
| GBP/SEK |
£56,618 |
12.63 |
— |
(210) |
|
— |
|
| EUR/MAD |
€6,000 |
10.58 |
— |
(87) |
|
(548) |
|
| EUR/CZK |
€25,800 |
25.04 |
25.51 |
724 |
|
(473) |
|
|
|
|
|
|
|
| Others |
$58,644 |
|
|
(1,781) |
|
(623) |
|
| Total |
|
|
|
(56,596) |
|
(15,578) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| The following table details the Company's sensitivity to a 10% strengthening of the euro, the U.S. dollar, the British pound and the Swedish krona, foreign currency rates on net earnings and on other comprehensive income (loss). 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 (loss) 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.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2025 |
|
|
|
2024 |
|
euro
impact |
U.S. dollar
impact |
British pound impact |
Swedish
krona impact |
euro
impact |
U.S. dollar
impact |
British pound impact |
Swedish
krona impact |
|
$ |
$ |
$ |
$ |
$ |
$ |
$ |
$ |
Increase in net earnings |
2,806 |
|
5,827 |
|
990 |
|
265 |
|
150 |
|
1,359 |
|
1,179 |
|
521 |
|
Decrease in other comprehensive income (loss) |
(211,271) |
|
(235,753) |
|
(22,262) |
|
(20,296) |
|
(174,239) |
|
(180,405) |
|
(17,269) |
|
(9,631) |
|
|
| 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, 2025 |
Carrying amount |
Contractual cash flows |
Less than one year |
Between one and three years |
Between three and five years |
Beyond
five years |
|
$ |
$ |
$ |
$ |
$ |
$ |
| Non-derivative financial liabilities |
|
|
|
|
|
|
| Accounts payable and accrued liabilities |
1,014,834 |
|
1,014,834 |
|
1,014,834 |
|
— |
|
— |
|
— |
|
Accrued compensation and employee-related
liabilities |
1,269,767 |
|
1,269,767 |
|
1,269,767 |
|
— |
|
— |
|
— |
|
|
|
|
|
|
|
|
| 2021 U.S. Senior Notes |
1,386,564 |
|
1,481,011 |
|
859,688 |
|
25,633 |
|
25,633 |
|
570,057 |
|
| 2021 CAD Senior Notes |
597,892 |
|
637,380 |
|
12,180 |
|
625,200 |
|
— |
|
— |
|
| 2024 CAD Senior Notes |
747,001 |
|
846,508 |
|
28,562 |
|
349,284 |
|
468,662 |
|
— |
|
| 2025 U.S. Senior Notes |
894,509 |
|
1,105,226 |
|
42,831 |
|
89,646 |
|
972,749 |
|
— |
|
| Lease liabilities |
693,484 |
|
779,572 |
|
197,735 |
|
296,202 |
|
177,385 |
|
108,250 |
|
| Other long-term debt |
11,869 |
|
12,016 |
|
11,147 |
|
570 |
|
204 |
|
95 |
|
| Clients’ funds obligations |
973,673 |
|
973,673 |
|
973,673 |
|
— |
|
— |
|
— |
|
| Derivative financial liabilities |
|
|
|
|
|
|
| Cash flow hedges of future revenue |
58,536 |
|
|
|
|
|
|
Outflow |
|
1,602,133 |
|
505,880 |
|
845,772 |
|
250,481 |
|
— |
|
(Inflow) |
|
(1,632,658) |
|
(492,218) |
|
(865,405) |
|
(275,035) |
|
— |
|
| Cross-currency swaps |
139,191 |
|
|
|
|
|
|
Outflow |
|
2,797,646 |
|
133,358 |
|
1,127,564 |
|
1,499,067 |
|
37,657 |
|
(Inflow) |
|
(2,691,418) |
|
(153,134) |
|
(1,059,582) |
|
(1,442,517) |
|
(36,185) |
|
|
7,787,320 |
|
8,195,690 |
|
4,404,303 |
|
1,434,884 |
|
1,676,629 |
|
679,874 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| As at September 30, 2024 |
Carrying amount |
Contractual cash flows |
Less than one year |
Between one and three years |
Between three and five years |
Beyond
five years |
|
$ |
$ |
$ |
$ |
$ |
$ |
| Non-derivative financial liabilities |
|
|
|
|
|
|
| Accounts payable and accrued liabilities |
999,790 |
|
999,790 |
|
999,790 |
|
— |
|
— |
|
— |
|
Accrued compensation and employee-related
liabilities |
1,165,903 |
|
1,165,903 |
|
1,165,903 |
|
— |
|
— |
|
— |
|
|
|
|
|
|
|
|
| 2021 U.S. Senior Notes |
1,342,758 |
|
1,462,053 |
|
24,191 |
|
847,526 |
|
24,868 |
|
565,468 |
|
| 2021 CAD Senior Notes |
597,212 |
|
650,400 |
|
12,600 |
|
25,200 |
|
612,600 |
|
— |
|
| 2024 CAD Senior Notes |
746,144 |
|
879,191 |
|
30,623 |
|
361,245 |
|
487,323 |
|
— |
|
|
|
|
|
|
|
|
| Lease liabilities |
620,095 |
|
697,298 |
|
173,061 |
|
254,475 |
|
166,326 |
|
103,436 |
|
| Other long-term debt |
2,194 |
|
2,312 |
|
1,028 |
|
823 |
|
197 |
|
264 |
|
| Clients’ funds obligations |
504,515 |
|
504,515 |
|
504,515 |
|
— |
|
— |
|
— |
|
| Derivative financial liabilities |
|
|
|
|
|
|
| Cash flow hedges of future revenue |
23,277 |
|
|
|
|
|
|
| Outflow |
|
744,758 |
|
186,439 |
|
545,077 |
|
13,242 |
|
— |
|
| (Inflow) |
|
(758,162) |
|
(175,510) |
|
(568,052) |
|
(14,600) |
|
— |
|
| Cross-currency swaps |
9,500 |
|
|
|
|
|
|
| Outflow |
|
1,496,435 |
|
26,090 |
|
353,834 |
|
1,116,511 |
|
— |
|
| (Inflow) |
|
(1,518,971) |
|
(40,681) |
|
(381,060) |
|
(1,097,230) |
|
— |
|
|
6,011,388 |
|
6,325,522 |
|
2,908,049 |
|
1,439,068 |
|
1,309,237 |
|
669,168 |
|
|
| 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, 2025 |
Carrying amount |
Contractual cash flows |
Less than one year |
Between one and three years |
Between three and five years |
Beyond
five years |
|
$ |
$ |
$ |
$ |
$ |
$ |
| Non-derivative financial liabilities |
|
|
|
|
|
|
| Accounts payable and accrued liabilities |
1,014,834 |
|
1,014,834 |
|
1,014,834 |
|
— |
|
— |
|
— |
|
Accrued compensation and employee-related
liabilities |
1,269,767 |
|
1,269,767 |
|
1,269,767 |
|
— |
|
— |
|
— |
|
|
|
|
|
|
|
|
| 2021 U.S. Senior Notes |
1,386,564 |
|
1,481,011 |
|
859,688 |
|
25,633 |
|
25,633 |
|
570,057 |
|
| 2021 CAD Senior Notes |
597,892 |
|
637,380 |
|
12,180 |
|
625,200 |
|
— |
|
— |
|
| 2024 CAD Senior Notes |
747,001 |
|
846,508 |
|
28,562 |
|
349,284 |
|
468,662 |
|
— |
|
| 2025 U.S. Senior Notes |
894,509 |
|
1,105,226 |
|
42,831 |
|
89,646 |
|
972,749 |
|
— |
|
| Lease liabilities |
693,484 |
|
779,572 |
|
197,735 |
|
296,202 |
|
177,385 |
|
108,250 |
|
| Other long-term debt |
11,869 |
|
12,016 |
|
11,147 |
|
570 |
|
204 |
|
95 |
|
| Clients’ funds obligations |
973,673 |
|
973,673 |
|
973,673 |
|
— |
|
— |
|
— |
|
| Derivative financial liabilities |
|
|
|
|
|
|
| Cash flow hedges of future revenue |
58,536 |
|
|
|
|
|
|
Outflow |
|
1,602,133 |
|
505,880 |
|
845,772 |
|
250,481 |
|
— |
|
(Inflow) |
|
(1,632,658) |
|
(492,218) |
|
(865,405) |
|
(275,035) |
|
— |
|
| Cross-currency swaps |
139,191 |
|
|
|
|
|
|
Outflow |
|
2,797,646 |
|
133,358 |
|
1,127,564 |
|
1,499,067 |
|
37,657 |
|
(Inflow) |
|
(2,691,418) |
|
(153,134) |
|
(1,059,582) |
|
(1,442,517) |
|
(36,185) |
|
|
7,787,320 |
|
8,195,690 |
|
4,404,303 |
|
1,434,884 |
|
1,676,629 |
|
679,874 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| As at September 30, 2024 |
Carrying amount |
Contractual cash flows |
Less than one year |
Between one and three years |
Between three and five years |
Beyond
five years |
|
$ |
$ |
$ |
$ |
$ |
$ |
| Non-derivative financial liabilities |
|
|
|
|
|
|
| Accounts payable and accrued liabilities |
999,790 |
|
999,790 |
|
999,790 |
|
— |
|
— |
|
— |
|
Accrued compensation and employee-related
liabilities |
1,165,903 |
|
1,165,903 |
|
1,165,903 |
|
— |
|
— |
|
— |
|
|
|
|
|
|
|
|
| 2021 U.S. Senior Notes |
1,342,758 |
|
1,462,053 |
|
24,191 |
|
847,526 |
|
24,868 |
|
565,468 |
|
| 2021 CAD Senior Notes |
597,212 |
|
650,400 |
|
12,600 |
|
25,200 |
|
612,600 |
|
— |
|
| 2024 CAD Senior Notes |
746,144 |
|
879,191 |
|
30,623 |
|
361,245 |
|
487,323 |
|
— |
|
|
|
|
|
|
|
|
| Lease liabilities |
620,095 |
|
697,298 |
|
173,061 |
|
254,475 |
|
166,326 |
|
103,436 |
|
| Other long-term debt |
2,194 |
|
2,312 |
|
1,028 |
|
823 |
|
197 |
|
264 |
|
| Clients’ funds obligations |
504,515 |
|
504,515 |
|
504,515 |
|
— |
|
— |
|
— |
|
| Derivative financial liabilities |
|
|
|
|
|
|
| Cash flow hedges of future revenue |
23,277 |
|
|
|
|
|
|
| Outflow |
|
744,758 |
|
186,439 |
|
545,077 |
|
13,242 |
|
— |
|
| (Inflow) |
|
(758,162) |
|
(175,510) |
|
(568,052) |
|
(14,600) |
|
— |
|
| Cross-currency swaps |
9,500 |
|
|
|
|
|
|
| Outflow |
|
1,496,435 |
|
26,090 |
|
353,834 |
|
1,116,511 |
|
— |
|
| (Inflow) |
|
(1,518,971) |
|
(40,681) |
|
(381,060) |
|
(1,097,230) |
|
— |
|
|
6,011,388 |
|
6,325,522 |
|
2,908,049 |
|
1,439,068 |
|
1,309,237 |
|
669,168 |
|
|
| 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:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2025 |
2024 |
|
|
|
$ |
$ |
| Not past due |
|
|
1,195,658 |
|
1,005,651 |
|
| Past due 1-30 days |
|
|
92,167 |
|
71,445 |
|
| Past due 31-60 days |
|
|
24,089 |
|
18,352 |
|
| Past due 61-90 days |
|
|
11,284 |
|
11,957 |
|
| Past due more than 90 days |
|
|
26,238 |
|
13,367 |
|
|
|
|
1,349,436 |
|
1,120,772 |
|
| Allowance for doubtful accounts |
|
|
(6,154) |
|
(3,060) |
|
|
|
|
1,343,282 |
|
1,117,712 |
|
|