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Net Income (Loss) Per Share - Summary of Computation of Basic and Diluted Net Income (Loss) Per Common Share (Detail) - CAD ($) $ in Millions	12 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Mar. 31, 2020
Text Block [Abstract]
Loss on change in fair value of warrants(i)	$ 6.4	$ 0.0	$ 0.0
Net income (loss) attributable to ordinary shareholders (diluted)	$ 864.1	$ (76.1)	$ (175.9)
Dilutive effect of warrants	10,900

Schedule I - Combined Condensed Statement of Changes in Shareholders' Equity (Detail) - CAD ($) $ in Millions	12 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Mar. 31, 2020
Parent Company Combined Condensed Statement of Changes in Shareholders Equity [Line Items]
Equity in other comprehensive income of subsidiary	$ 157.6		$ 84.1
Exercise of performance share units and director units		$ 4.1
Deficit in other comprehensive income of subsidiary		$ (54.1)
Issuance and modification of performance share units	(30.0)
Issuance of deferred share units	0.7
Return of capital	(8.3)
Earnout rights	$ (521.3)

Commitments And Contingencies- Additional Information (Detail) $ in Millions, $ in Millions	Mar. 31, 2022 CAD ($)	Mar. 31, 2022 USD ($)	Mar. 31, 2021 CAD ($)	Mar. 31, 2021 USD ($)
Statement [Line Items]
Governmental loans current and non current	$ 95.2		$ 86.4
Libor [Member]
Statement [Line Items]
Letters of credit outstanding and borrowing base reserves	$ 34.1	$ 27.3	$ 27.4	$ 21.8

Other Post-Employment Benefits

12 Months Ended

Mar. 31, 2022

Text Block [Abstract]

Other Post-Employment Benefits

23.	OTHER POST-EMPLOYMENT BENEFITS

The Company offers post-employment life insurance, health care and dental care to some of its retirees. These obligations are not

pre-funded.

The most recent actuarial valuations of the present value of the other post-employment benefit obligation were carried out at November 1, 2021.

The principal assumptions used for the purposes of the actuarial valuations were as follows:


As at and for the years ended,	March 31, 2022		March 31, 2021
Assumptions for determination of defined benefit cost:
Discount rate
Defined benefit obligation		3.41%		4.15%
Current service cost		3.68%		4.43%
Interest cost on benefit obligation		2.79%		3.65%
Interest cost on current service cost		3.58%		4.31%
Health care cost immediate trend rate		5.04%		5.09%
Assumptions for determination of defined benefit obligation:
Effective discount rate		4.31%		3.41%
Health care cost immediate trend rate		5.04%		5.04%
Assumptions for determination of defined benefit cost and defined benefit obligation:
Health care cost ultimate trend rate		4.00%		4.00%
Year ultimate health care cost trend rate reached		2040		2040
Salary Increases per annum		2.00%		2.00%
Mortality		105%CPM 2014 Private Projection CPM-B		105%CPM 2014 Private Projection CPM-B

The components of amounts recognized in the consolidated statements of net income (loss) in respect of these other post-employment benefit plans are presented below:


Years ended,	March 31, 2022		March 31, 2021		March 31, 2020
Amounts recognized in net income (loss) were as follows:
Current service cost	$	4.0	$	3.2	$	4.0
Net interest cost		8.0		9.6		8.9

	$	12.0	$	12.8	$	12.9

Post employment benefit costs recognized in:
Cost of sales	$	3.6	$	2.8	$	3.6
Administrative and selling expense		0.4		0.4		0.4
Interest on pension liability		8.0		9.6		8.9

	$	12.0	$	12.8	$	12.9

The components of amounts recognized in the consolidated statements of comprehensive income (loss) in respect of these other post-employment benefit plans are presented below:


Years ended,	March 31, 2022			March 31, 2021		March 31, 2020
Amounts recognized in other comprehensive (income) loss, were as follows:
Actuarial (income) losses on accrued post employment benefit liability	$	(60.0	)	$	28.8	$	(33.2	)
Less tax effect		—			—		2.6

	$	(60.0	)	$	28.8	$	(30.6	)

The amounts included in the consolidated statements of financial position arising from the Company’s obligation in respect of its other post-retirement benefit plans were as follows:


As at,	March 31, 2022		March 31, 2021
Present value of post-employment benefit obligation	$	239.8	$	297.8
Fair value of plan assets		—		—

Accrued other post-employment benefit obligation	$	239.8	$	297.8

Reconciliation of the amounts recognized in accumulated other comprehensive income (loss) in the consolidated statements of changes in shareholder’s equity were as follows:


	Actuarial (gain) loss immediately recognized			Tax effect		Actuarial (gain) loss immediately recognized, net of tax


Balance at March 31, 2020	$	(22.8	)	$	—	$	(22.8	)
Actuarial loss immediately recognized		28.8			—		28.8
Balance at March 31, 2021	$	6.0		$	—	$	6.0

Actuarial gain immediately recognized		(60.0	)		—		(60.0	)

Balance at March 31, 2022	$	(54.0	)	$	—	$	(54.0	)

Continuities of the other post-employment benefit plan assets and obligations are as follows:


Movements in the present value of the post-employment benefit plan assets were as follows:
Fair value of plan assets at beginning of year	$	—		$	—
Employer contributions		10.3			(11.0	)
Benefits paid		(10.3	)		11.0

Fair value of plan assets at end of the year, March 31, 2022 and March 31, 2021, respectively	$	—		$	—

Movements in the present value of the other post-employment benefit obligation were as follows:
Defined benefit obligation at the beginning of the year	$	297.8		$	267.3
Current service cost		4.0			3.2
Interest cost		8.0			9.6
Actuarial (gains) losses arising from financial assumptions		(31.6	)		30.9
Actuarial gains arising from demographic assumptions		(20.2	)		—
Actuarial gains from experience adjustments		(7.8	)		(2.2	)
Benefits paid		(10.3	)		(11.0	)

Defined benefit obli g ation at end of the year, March 31, 2022 and March 31, 2021, respectively	$	239.8		$	297.8

Cash flow information

For the year ended March 31, 2022, the amounts included in the consolidated statements of cash flows in respect of these other post-employment benefit plans was

$10.3

million (March 31, 2021 - $

11.0

million, March 31, 2020 - $11.6 million). The Company’s expected contributions for the
fiscal year ending March 31, 2023 is $

12.6 million.

Sensitivity of results to actuarial assumptions

The sensitivity of the other post-employment benefit obligation to changes in the discount rate, health care cost trend rate and mortality assumptions are as follows:


Years ended,	March 31, 2022			March 31, 2021
Effect of change in discount rate assumption

One percentage point increase	$	(29.9	)	$	(38.8	)
One percentage point decrease	$	37.7		$	49.8
Effect of change in health care cost trend rates
One percentage point increase	$	29.6		$	41.2
One percentage point decrease	$	(24.9	)	$	(32.9	)
Effect of change in mortality assumption
Set forward one year	$	9.5		$	14.0
Set back one year	$	(9.3	)	$	(13.6	)

The discount rate sensitivities presented above are estimates based on plan durations. The other post-employment benefit obligation and the current service cost have an implied duration of 14.4 and 30 years, respectively at current discount rates.

Financial Instruments - Summary of Company's Contractually Agreed (Undiscounted) Cash Flows Payable Under Financial Liabilities (Detail) - CAD ($) $ in Millions	Mar. 31, 2022	Mar. 31, 2021
Maturity Analysis For Financial Liabilities [Line Items]
Taxes payable	$ 64.3	$ 27.2
Governmental Loans	95.2	86.4
Taxes Payable Undiscounted Cash Flows	0.0	0.0
Government Loans Undiscounted Cash Flows	(45.2)	(70.1)
Interest Payable Undiscounted Cash Flows	0.0	0.0
Financial Liabilities Undiscounted Cash Flows	$ (45.2)	(70.1)
Available for use asset costs		49.4
Loans Received Undiscounted Cash Flows		0.0
Available for use asset costs undiscounted cash flows		$ 0.0

Governmental Loans – Additional Information (Detail) - CAD ($) $ in Millions			12 Months Ended
	Mar. 29, 2019	Nov. 30, 2018	Mar. 31, 2022	Mar. 31, 2021	Sep. 20, 2021
Statement [Line Items]
Eligible interest free loan		$ 60.0	$ 15.0	$ 15.0
Borrowings maturity start date	Apr. 30, 2024	Dec. 31, 2024
Non current portion of governmental loans			8.8	8.0
Aggregate loan and grant eligible amount	$ 30.0
Interest free loan amount	$ 15.0
Additional eligible interest free loan			15.0	6.3
Additional income from government grants			6.2	3.9
Nonrevolving Construction Credit Facility [Member]
Statement [Line Items]
Credit Facility			0.0
Algoma Steel Parent SCA [Member]
Statement [Line Items]
Eligible interest free loan			2.2	0.0
Non current portion of governmental loans			$ 1.1	$ 0.0
Aggregate loan and grant eligible amount					$ 200.0

Inventories, Net (Tables)

12 Months Ended

Mar. 31, 2022

Text Block [Abstract]

Summary of Inventories Net Explanatory


As at,	March 31, 2022		March 31, 2021
The carrying amount of:
Raw materials and consumables	$	308.7	$	278.3
Work in progress		103.6		109.2
Finished goods		67.7		27.8

	$	480.0	$	415.3

Finance Costs - Summary of Detailed Information About Finance Cost Explanatory (Detail) - CAD ($) $ in Millions	12 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Mar. 31, 2020
Disclosure Of Detailed Information About Finance Cost Explanatory [Line Items]
Other interest expense	$ 1.5	$ 1.5	$ 1.5
Unwinding of issuance costs of debt facilities and accretion of governmental loan benefits and discounts on environmental liabilities	$ 18.8	$ 13.8	$ 10.3

Finance Costs - Additional Information (Detail) $ in Millions, $ in Millions		12 Months Ended
	Jan. 10, 2020	Mar. 31, 2022 CAD ($)	Mar. 31, 2022 USD ($)
Disclosure Of Detailed Information About Finance Cost Explanatory [Line Items]
Percentage of premium paid	1.00%
Paid In kind Interest		$ 2.9	$ 2.1

Cost of Sales - Additional Information (Detail) - CAD ($) $ in Millions	12 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Mar. 31, 2020
Disclosure of Detailed Information About Cost of Sales [Line Items]
Government grant recognized		$ 52.8	$ 0.0
Carbon tax recognized as recovery	$ 0.6
Carbon tax recognized as expense	13.4	6.9
United States Steel Tariff [Member]
Disclosure of Detailed Information About Cost of Sales [Line Items]
Tariff costs	$ 0.0	$ 0.0	$ 27.8

Other Long-Term Liabilities (Tables)

12 Months Ended

Mar. 31, 2022

Text Block [Abstract]

Summary of Detailed about Other Long term Liabilities


As at,	March 31, 2022		March 31, 2021
The carrying amount of the following other long term liabilities:

Accrued interest payable, Provincial MENDM Loan	$	2.3	$	1.4
Long-term disability plan obligation		0.8		1.1
Long-term portion of lease liability		0.9		—

	$	4.0	$	2.5

Administrative and Selling Expenses - Summary of Detailed Information About Administrative and Selling Expenses (Detail) - CAD ($) $ in Millions	12 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Mar. 31, 2020
Administrative and selling expense is comprised of:
Software licenses	$ 4.6	$ 3.1	$ 2.7
Amortization of intangible assets and non-producing assets	0.4	0.4	0.5
Other administrative and selling	$ 7.6	$ 7.1	$ 6.9

Net Change In Non-Cash Operating Working Capital - Summary Of Changes In Non Cash Operating Working Capital (Detail) - Non Cash Item [Member] - CAD ($) $ in Millions	12 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Mar. 31, 2020
Schedule Of Changes In Non Cash Operating Working Capital Line Item [Line Items]
Taxes payable and accrued taxes	$ (22.1)	$ 16.7	$ 3.7
Prepaid expenses and other current assets	12.5	(70.3)	20.2
Secured term loan interest payment in kind	$ 0.0	$ 33.2	$ 0.0

Governmental Loans (Tables)

12 Months Ended

Mar. 31, 2022

Text Block [Abstract]

Summary of Details in Tabular Form of Governmental Loans


As at,	March 31, 2022		March 31, 2021
The carrying amount of:
Long-term portion
Federal AMF Loan, denominated in Canadian dollars , due March 1, 2028	$	33.4	$	39.7
Provincial MENDM Loan, denominated in Canadian dollars, due November 30, 2028		41.9		38.7
Federal SIF Agreement loan, denominated in Canadian dollars, due April 30, 2031		8.8		8.0
Federal SIF Agreement loan, denominated in Canadian dollars, due January 1, 2030		1.1		—

	$	85.2	$	86.4

Current portion
Federal AMF Loan, denominated in Canadian dollars	$	10.0	$	—

	$	95.2	$	86.4

Summary of Company's Long-term Debt Facilities Arising From Financing Activities

The changes in the Company’s Long-term governmental loan facilities arising from financing activities are presented

below:


	Governmental Loan Issued (Repaid)			Governmental loan benefit recognized immediately			Acretion of governmental loan benefit		Carrying value
Federal AMF Loan
Balance at March 31, 2021	$	60.2		$	(26.5	)	$	6.0	$	39.7
		(0.8	)		—			4.5		3.7
Balance at March 31, 2022	$	59.4		$	(26.5	)	$	10.5	$	43.4
Provincial MENDM Loan
Balance at March 31, 2021	$	59.9		$	(26.4	)	$	5.2	$	38.7
		—			—			3.2		3.2
Balance at March 31, 2022	$	59.9		$	(26.4	)	$	8.4	$	41.9
Federal SIF Loan
Balance at March 31, 2021	$	15.0		$	(7.8	)	$	0.8	$	8.0
		—			—			0.8		0.8
Balance at March 31, 2022	$	15.0		$	(7.8	)	$	1.6	$	8.8
Federal SIF Loan (EAF)
Balance at March 31, 2021	$	—		$	—		$	—	$	—
		2.2			(1.1	)		—		1.1
Balance at March 31, 2022	$	2.2		$	(1.1	)	$	—	$	1.1
Total, Governmental Loans
Balance at March 31, 2021	$	135.1		$	(60.7	)	$	12.0	$	86.4
		1.4			(1.1	)		8.5		8.8
Balance at March 31, 2022	$	136.5		$	(61.8	)	$	20.5	$	95.2

Summary of applicable interest rates

The applicable interest rates since the inception of this agreement are as follows:


December 1, 2019 to November 30, 2020	2.500	%
December 1, 2020 to November 30, 2021	2.500	%

Pension Benefits

12 Months Ended

Mar. 31, 2022

Text Block [Abstract]

Pension Benefits

22.	PENSION BENEFITS

Defined contribution plan

The Company maintains a defined contribution pension plan established by Old Steelco Inc.’s predecessor in 2004 for

non-unionized

employees in Canada joining the Company after January 1, 2003. As part of Old Steelco Inc.’s contract negotiations with its locals which concluded on July 31, 2010, the locals and Old Steelco Inc. agreed to include in this plan all unionized employees hired subsequent to August 1, 2010 and to offer to all the current employees the option to move to the Defined Contribution Pension Plan. The plan was revised by Old Steelco Inc. during the year ended March 31, 2011; these revisions went into effect March 1, 2011. Based on this revision, the Company is obligated to provide a base contribution of 5% of salary and also match employee contributions to a maximum of 2%, depending on years of service for

non-unionized

employees. Additionally, The Company is obligated to provide a contribution for unionized employees per qualified hour worked of $2.85.

The pension expense under this plan is equal to the Company’s contribution. The pension expense for the year ended March 31, 2022 was $9.0 million (March 31, 2021 was $8.7

million).

Defined benefit plans

The Company maintains

non-contributory

defined benefit pension plans that are closed to new entrants and cover all employees in Canada not covered under the Defined Contribution Pension Plan. The benefits are based on years of service and average earnings for a defined period prior to retirement.

The Company also maintains a closed plan for pensioners who retired prior to January 1, 2002, that provides the pensioners with a pension benefit in excess of the limits provided by the Ontario Pension Benefit Guarantee Fund (the “Closed Retiree Plan”).

These defined benefit pension plans are registered under the Pension Benefits Act (Ontario), and are legally separated from the Company. The Pension Benefits Act (Ontario) is a regulatory framework that has jurisdiction over the administration and funding of defined benefit pension plans. Within this framework, the Company has fiduciary responsibility over the administration of the defined benefit pension plans, including the development and oversight of the investment policy for pension funds and the selection and oversight of pension fund investment managers.

The defined benefit pension plans expose the Company to various risks such as: investment risk, interest rate risk, foreign currency risk, price risk, credit risk and liquidity risk.

The most recent actuarial valuations of plan assets and the present value of the defined benefit obligation were carried out at March 1, 2021 for salaried and hourly plans and at April 1, 2021 for the wrap plan.

The principal assumptions used for the purposes of the actuarial valuations were as follows:


Years ended,	March 31, 2022		March 31, 2021
Assumptions for determination of defined benefit cost:
Defined obligation and past service cost		3.28%		4.03%
Net interest cost		2.53%		3.47%
Current service cost		3.55%		4.25%
Interest cost on current service cost		3.13%		3.92%
Discount rate for determination of defined benefit obligation		4.16%		3.16%

Assumptions for determination of defined benefit cost and defined benefit obligation:
Ultimate rate of compensation increase		2.00%		2.00%
Mortality		105%		105%
		CPM2014 Private Projection CPM-B		CPM2014 Private Projection CPM-B

The components of amounts recognized in the consolidated statements of net income (loss) in respect of these defined benefit plans are presented below:


Years ended,	March 31, 2022		March 31, 2021		March 31, 2020
Amounts recognized in net income (loss) were as follows:
Current service cost	$	20.8	$	20.0	$	23.0
Net interest cost		3.6		7.6		8.4

	$	24.4	$	27.6	$	31.4

Defined benefit costs recognized in:
Cost of sales	$	18.8	$	18.0	$	20.6
Administrative and selling expense		2.0		2.0		2.4
Interest on pension liability		3.6		7.6		8.4

	$	24.4	$	27.6	$	31.4

The components of amounts recognized in the consolidated statements of comprehensive income (loss) in respect of these defined benefit plans are presented below:


Years ended,	March 31, 2022			March 31, 2021			March 31, 2020
Amounts recognized in other comprehensive income (loss), were as follows:
Actuarial gain on accrued pension liability	$	(57.9	)	$	(51.8	)	$	(48.6	)

Less tax effect		—			—			4.6

	$	(57.9	)	$	(51.8	)	$	(44.0	)

The amounts included in the consolidated statements of financial position in respect of the Company’s net obligation in respect of its defined benefit plans are as follows:


As at,	March 31, 2022		March 31, 2021
Present value of defined benefit obligation	$	1,343.6	$	1,504.3
Fair value of plan assets		1,225.5		1,334.2

Net accrued pension liability	$	118.1	$	170.1

Continuities of the defined benefit plan assets and obligations are as follows:


Years ended,
Movements in the present value of the plan assets were as follows:
Fair value of plan assets at beginning of year	$	1,334.2		$	1,155.8
Actual return (net of investment management expenses)		(46.5	)		209.5
Administration expenses		(1.5	)		(1.2	)
Employer contributions		18.4			50.3
Benefits paid		(79.1	)		(80.2	)

Fair value of plan assets at end of the year, March 31, 2022 and March 31, 2021, respectively	$	1,225.5		$	1,334.2

Movements in the present value of the defined benefit obligation were as follows:
Defined benefit obligation at the beginning of the year	$	1,504.3		$	1,400.8
Current service cost		19.8			18.7
Interest cost		37.0			47.2
Actuarial (gains) losses arising from financial assumptions		(154.6	)		127.3
Effect of experience adjustments		16.2			(8.3	)
Effect of demographic assumptions		—			(1.2	)
Benefits paid		(79.1	)		(80.2	)

Defined benefit obligation at end of the y e ar, March 31, 2022 and March 31, 2021, respectively	$	1,343.6		$	1,504.3

Reconciliation of the amounts recognized in accumulated other comprehensive income (loss) in the consolidated statements of changes in shareholders’ equity were as follows:


	Actuarial gain immediately recognized			Tax effect			Actuarial gain immediately recognized, net of tax
Balance at March 31, 2020	$	(29.1	)	$	(0.3	)	$	(29.4	)
Actuarial gain immediately recognized		(51.8	)		—			(51.8	)

Balance at March 31, 2021	$	(80.9	)	$	(0.3	)	$	(81.2	)
Actuarial gain immediately recognized		(57.9	)		—			(57.9	)

Balance at March 31, 2022	$	(138.8	)	$	(0.3	)	$	(139.1	)

The major categories of plan assets were as follows:


As at	March 31, 2022			March 31, 2021
Cash and cash equivalents		1	%		1	%
Equity instruments		45	%		51	%
Debt instruments		43	%		42	%
Other		11	%		6	%

		100	%		100	%

Cash flow information

The Company is required to make contributions equal to current service cost. Contributions for the year ended March 31, 2022 under these regulations were $18.4 million (March 31, 2021 - $50.3

million, March 31, 2020 - $51.4 million).

The Company’s expected future cash flow in respect of its defined benefit pension plans for the fiscal year ending March 31, 2023 is $18.9

million.

Sensitivity of results to actuarial assumptions

The sensitivity of the defined benefit obligation to the key actuarial assumptions is as follows:


Years ended,	March 31, 2022			March 31, 2021
Effect of change in discount rate assumption
One percentage point increase	$	(134.5	)	$	(164.4	)
One percentage point decrease	$	162.7		$	202.0
Effect of change in salary scale
One percentage point increase	$	19.4		$	25.2
One percentage point decrease	$	(17.5	)	$	(22.6	)
Effect of change in mortality assumption
Set forward one year	$	34.4		$	41.4
Set back one year	$	(33.6	)	$	(40.6	)

The discount rate sensitivities presented above are estimates based on plan durations. The defined benefit obligation and the current service cost have an implied duration of 10 and 17 years, respectively at current discount rates.

If the returns on plan assets had been 10% lower than the actual returns of plan assets experienced in the year ended March 31, 2022, the actuarial loss immediately recognized in other comprehensive

income (loss) would

have increased by approximately $130.0 million (March 31, 2021 - $114.0 million).

Governmental Loans

12 Months Ended

Mar. 31, 2022

Text Block [Abstract]

Governmental Loans

20.	GOVERNMENTAL LOANS


As at,	March 31, 2022		March 31, 2021
The carrying amount of:
Long-term portion
Federal AMF Loan, denominated in Canadian dollars , due March 1, 2028	$	33.4	$	39.7
Provincial MENDM Loan, denominated in Canadian dollars, due November 30, 2028		41.9		38.7
Federal SIF Agreement loan, denominated in Canadian dollars, due April 30, 2031		8.8		8.0
Federal SIF Agreement loan, denominated in Canadian dollars, due January 1, 2030		1.1		—

	$	85.2	$	86.4

Current portion
Federal AMF Loan, denominated in Canadian dollars	$	10.0	$	—

	$	95.2	$	86.4

Federal Economic Development Agency for Southern Ontario

On November 30, 2018, the Company, together with the Federal Economic Development Agency, through the Advanced Manufacturing Fund (“Federal AMF Loan”), entered into an agreement executed on December 19, 2018, under which, the Company will receive a $60.0 million interest free loan. Under the terms of the Federal AM Loan, the Company will be reimbursed for certain defined capital expenditures made by Old Steelco Inc. between October 1, 2014 and November 30, 2018 and

by the Company between December 1, 2018 and March 31, 2021. The Company will repay the loan balance in equal monthly installments beginning on

April 1, 2022

with the final installment payable on

March 1, 2028

. Under the General Security Agreement, this facility has a third priority claim on all of the Company’s assets which is

pari passu

with the Provincial MENDM Loan, defined below.

As at March 31, 2022, the Company had applied for reimbursements of $60.0 million (March 31,

2021 -

$60.0 million) and recognized a benefit, net of accretion, of $15.8 million (March 31,

2021 -

$20.3 million). Accordingly, the carrying value of the Federal AMF Loan was $43.4 million at March 31, 2022 (March 31,

2021 -

$39.7

million).

Ministry of Energy, Northern Development and Mines

On November 30, 2018, the Company entered into an agreement with the Ministry of Energy, Northern Development and Mines (the “Provincial MENDM Loan”) under which, the Company will receive a $60.0 million low interest loan. Under the terms of this agreement, the Company will be reimbursed for certain defined capital expenditures made by Old Steelco Inc. between April 1, 2017 and November 30, 2018 and by the Company between December 1, 2018 and November 30, 2024. Following the completion of the projects to which these certain defined capital expenditures relate the Company will repay the loan in monthly blended payments of principal and interest beginning on December 31, 2024 and ending on November 30, 2028. This facility bears interest at an annual interest rate equal to the greater of 2.5% per annum; and the lenders cost of funds. Under the General Security Agreement, this facility has a third priority claim on all of the Company’s assets which is

pari passu

with the Federal AMF Loan.

The applicable interest rates since the inception of this agreement are as follows:


December 1, 2019 to November 30, 2020	2.500	%
December 1, 2020 to November 30, 2021	2.500	%

As at March 31, 2022, the Company had applied for reimbursements of $60.0 million (March 31, 2021 – $60.0 million) and recognized a benefit, net of accretion, of $18.1

million (March 31, 2021 - $

21.3 million). Accordingly, the carrying value of the Provincial MENDM Loan was $41.9

million at March 31, 2022 (March 31, 2021 - $

38.7 million).

Ministry of Industry

On March 29, 2019, the Company, together with the government of Canada, entered into an agreement whereby a benefit of $30.0 million would flow to the Company; $15.0 million in the form of a grant, and $15.0 million in the form of an interest free loan; from the Ministry of Industry, Strategic Innovation Fund (the “SIF Agreement”). Under the terms of this agreement, the Company will be reimbursed for certain defined capital expenditures made by Old Steelco Inc. between November 1, 2018 and November 30, 2018 and by the Company between December 1, 2018 and May 1, 2021. Following the completion of the projects to which these certain defined capital expenditures relate the Company will repay the $15.0 million interest free loan portion of this agreement in equal annual payments beginning on April 30, 2024 and ending on April 30, 2031. The agreement is guaranteed by the Company’s parent, Algoma Steel Intermediate Holdings Inc.

At March 31, 2022, the Company had applied for reimbursements of

$15.0

million under the grant portion of the agreement (March 31, 2021 -

15.0 million), and recognized a benefit of $15.0

million (March 31, 2021 - $

15.0 million). Additionally, at March 31, 2022, the Company had applied for reimbursements of $15.0 million under the loan portion of the agreement (March 31, 2021 – $6.3 million), and had recognized a benefit, net of accretion, of $6.2 million (March 31, 2021 – $3.9 million). The carrying value of the Federal SIF Agreement was $8.8 million at March 31, 2022 (March 31, 2021 – $8.0 million).

On September 20, 2021, the Company, together with the government of Canada, entered into an agreement of which a benefit of up to

$200.0

million would flow to the Company in the form of a loan from the SIF. Under the terms of the SIF agreement, the Company will be reimbursed for certain defined capital expenditures incurred to transition from blast furnace steel production to EAF steel production between March 3, 2021 and March 31, 2025. Annual repayments of the SIF loan will be scalable based on the Company’s greenhouse gas emission performance.

As at March 31, 2022, the Company had applied for reimbursements under the SIF loan agreement

of $2.2 million for which the amount is receivable (March 31, 2021 – nil), and recognized a benefit in respect of this agreement of $1.1

million (March 31, 2021 –

nil). As at March 31, 2022, the total benefit recognized in respect of this agreement was $1.1

million (March 31, 2021 -

nil). Accordingly, the carrying value of the SIF EAF Agreement was $1.1 million (March 31, 2021 – nil).

Canada Infrastructure Bank

On September 20, 2021, the Company, entered into an agreement of which a benefit of up to $220.0 million would flow to the Company in the form of a loan from the CIB. CIB is an independent bank incorporated by special legislation, is not an agency of the government of Canada, but is accountable to the government

of Canada

through the Minister of Infrastructure and Communities. Further, on November 29, 2021, the CIB and the Company entered into a definitive agreement. Under the terms

of the CIB agreement, the Company may draw on a

non-revolving

construction credit facility. Following the completion of the project, quarterly payments including interest at a rate per annum equal to the base rate from the date of borrowing until November 27, 2031, then at a base rate plus 150 basis points until maturity of the loan are required prior to the loan maturity date, November 26, 2046. As of March 31, 2022, the Company has not drawn on this facility.

The changes in the Company’s Long-term governmental loan facilities arising from financing activities are presented

below:


	Governmental Loan Issued (Repaid)			Governmental loan benefit recognized immediately			Acretion of governmental loan benefit		Carrying value
Federal AMF Loan
Balance at March 31, 2021	$	60.2		$	(26.5	)	$	6.0	$	39.7
		(0.8	)		—			4.5		3.7
Balance at March 31, 2022	$	59.4		$	(26.5	)	$	10.5	$	43.4
Provincial MENDM Loan
Balance at March 31, 2021	$	59.9		$	(26.4	)	$	5.2	$	38.7
		—			—			3.2		3.2
Balance at March 31, 2022	$	59.9		$	(26.4	)	$	8.4	$	41.9
Federal SIF Loan
Balance at March 31, 2021	$	15.0		$	(7.8	)	$	0.8	$	8.0
		—			—			0.8		0.8
Balance at March 31, 2022	$	15.0		$	(7.8	)	$	1.6	$	8.8
Federal SIF Loan (EAF)
Balance at March 31, 2021	$	—		$	—		$	—	$	—
		2.2			(1.1	)		—		1.1
Balance at March 31, 2022	$	2.2		$	(1.1	)	$	—	$	1.1
Total, Governmental Loans
Balance at March 31, 2021	$	135.1		$	(60.7	)	$	12.0	$	86.4
		1.4			(1.1	)		8.5		8.8
Balance at March 31, 2022	$	136.5		$	(61.8	)	$	20.5	$	95.2

Merger Transaction - Summary of Table Reconciles the Elements of the Merger (Detail) - Oct. 19, 2021 $ in Millions, $ in Millions	CAD ($)	USD ($)
Disclosure Details of Allocation of Asset and Liabilities Pursuant to Share Based Arrangement in a Merger Transaction [Line Items]
Total fair value of consideration	$ 421.3	$ 30.3
Net assets acquired: Cash	261.2	211.4
Intercompany loan settled the subsequent day of transaction close	20.0	16.2
Less: warrant liability	$ (92.0)	$ (74.5)

Basis Of Presentation - Additional Information (Detail) - PurchaseAgreement [Member]	Mar. 29, 2021 shares
Disclosure of Basis of Presentation [Line Items]
Conversion of Shares Issued	100,000,001
Conversion of Shares Converted	100,000,000

Tax Matters - Summary of Income taxes in the consolidated statements of net (loss) income (Details) - CAD ($) $ in Millions	12 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Mar. 31, 2020
Disclosure Of Reconciliation Of Tax Expense Income At Applicable Tax Rate To Provision For Income Taxes [Abstract]
Non-deductible pension contributions	$ 4.7	$ 3.3	$ 3.8
Non-deductible accretion of financial obligations	0.8	2.7	1.7
Change in unrecognized tax benefits	(45.1)	2.7	45.9
Adjustment in respect of prior years	2.2	7.2	(13.7)
Share-based payment compensation	1.4	0.0	0.0
Listing expense	58.9	0.0	0.0
Changes in fair value of warrant liability	1.6	0.0	0.0
Changes in fair value of earnout liability	(19.2)	0.0	0.0
Income tax expense (recovery) based on the applicable	$ 298.9	$ 0.0	$ (4.3)

Financial Instruments (Tables)

12 Months Ended

Mar. 31, 2022

Text Block [Abstract]

Summary of Detailed Information Financial Assets And Liabilities Classified And Measured

The Company’s financial assets and financial liabilities are classified and measured as follows:


As at,		March 31, 2022				March 31, 2021
	Category	Carrying Value		Fair Value		Carrying Value		Fair Value
Financial assets
Cash (1)	Financial assets at amortized cost	$	915.3	$	915.3	$	21.2	$	21.2
Restricted cash (1)	Financial assets at amortized cost	$	3.9	$	3.9	$	3.9	$	3.9
Accounts receivable (2)	Financial assets at amortized cost	$	402.3	$	402.3	$	274.6	$	274.6
Margin payments (1)	Financial assets at amortized cost	$	29.5	$	29.5	$	49.4	$	49.4
Related party receivable (1)	Financial assets at amortized cost	$	—	$	—		2.2		2.2
Financial liabilities
Bank indebtedness (1)	Financial liabilities at amortized cost	$	0.1	$	0.1	$	90.1	$	90.1
Accounts payable and accrued liabilities (1)	Financial liabilities at amortized cost	$	261.9	$	261.9	$	153.8	$	153.8
Current portion of governmental loans (1)	Financial liabilities at amortized cost	$	10.0	$	10.0	$	—	$	—
Long-term debt (1)	Financial liabilities at amortized cost	$	—	$	—	$	439.3	$	439.3
Long-term governmental loans (1)	Financial liabilities at amortized cost	$	95.2	$	95.2	$	86.4	$	86.4
Derivative instruments (3)	Financial instruments at FVTOCI(L)	$	28.8	$	28.8	$	49.4	$	49.4
Warrant liability (4)	Financial instruments at FVTP(L)	$	99.4	$	99.4	$	—	$	—
Earnout liability (4)	Financial instruments at FVTP(L)	$	22.7	$	22.7	$	—	$	—

Initial measurement at fair value and subsequent remeasurement at amortized cost.

Initial measurement at transaction price and subsequent remeasurement at amortized cost.

Level 2; Initial measurement at fair value and subsequent remeasurement at FVTOCI(L)

- Level 1; Initial measurement at fair value and subsequent remeasurement at FVTP(L)

Summary of Company's Contractually Agreed (Undiscounted) Cash Flows Payable Under Financial Liabilities

The following table discloses the Company’s contractually agreed (undiscounted) cash flows payable under financial liabilities, as at March 31, 2022:


	Carrying Amount		Contractual Cash Flows			Year 1			Year 2			Years 3 to 5			Greater than 5 Years
Revolving Credit Facility	$	0.1	$	(0.1	)	$	(0.1	)	$	—		$	—		$	—
Accounts payable and accrued liabilities		261.9		(261.9	)		(261.9	)		—			—			—
Taxes payable		64.3		(64.3	)		(64.3	)		—			—			—
Governmental Loans		95.2		(136.5	)		(9.9	)		(9.9	)		(71.5	)		(45.2	)
Interest on Provincial MENDM Loan		2.3		(2.3	)		(2.3	)		—			—			—
Derivative financial instruments		28.8		(28.8	)		(28.8	)		—			—			—

	$	452.6	$	(493.9	)	$	(367.3	)	$	(9.9	)	$	(71.5	)	$	(45.2	)

The following table discloses the Company’s contractually agreed (undiscounted) cash flows payable under financial liabilities as at March 31, 2021:


	Carrying Amount		Contractual Cash Flows			Year 1			Year 2			Years 3 to 5			Greater than 5 Years
Revolving Credit Facility	$	90.1	$	(90.1	)	$	(90.1	)	$	—		$	—		$	—
Accounts payable and accrued liabilities		144.3		(144.3	)		(144.3	)		—			—			—
Taxes payable		27.2		(27.2	)		(27.2	)		—			—			—
Secured Term Loan Facility		381.9		(381.9	)		(3.6	)		(3.6	)		(374.7	)		—
Interest on Secured Term Loan		9.1		(176.4	)		(38.5	)		(38.1	)		(99.8	)		—
Algoma Docks Term Loan		76.0		(76.0	)		(11.1	)		(13.2	)		(51.7	)		—
Interest on Algoma Docks Term Loan		0.4		(10.8	)		(3.5	)		(3.1	)		(4.2	)		—
Governmental Loans		86.4		(135.1	)		—			(10.0	)		(55.0	)		(70.1	)
Interest on Provincial MENDM Loan		1.4		—			—			—			—			—
Available for use asset costs		49.4		(49.4	)		(49.4	)		—			—			—

	$	866.2	$	(1,091.2	)	$	(367.7	)	$	(68.0	)	$	(585.4	)	$	(70.1	)

Interest On Pension And Other Post-Employment Benefit Obligations (Tables)

12 Months Ended

Mar. 31, 2022

Text Block [Abstract]

Summary of Interest On Pension And Other Post Employment Benefit Obligations


Years ended,	March 31, 2022		March 31, 2021		March 31, 2020

Interest on pension and other post-employment benefit obligations is comprised of:
Interest on defined benefit pension obligation (Note 22)	$	3.6	$	7.4	$	8.4
Interest on other post-employment benefit obligation (Note 23)		8.0		9.6		8.9

	$	11.6	$	17.0	$	17.3

Environmental Liabilities (Tables)

12 Months Ended

Mar. 31, 2022

Text Block [Abstract]

Summary of Environmental Liabilities


As at,	March 31, 2022		March 31, 2021
The carrying amount of Environmental liabilities in respect of:

The Company’s Operation Site	$	33.7	$	35.0
Northern Ontario mine sites owned by Old Steelco Inc.		4.3		4.9

	$	38.0	$	39.9

Current portion	$	4.5	$	4.5
Long-term portion		33.5		35.4

	$	38.0	$	39.9

Summary of Reconciliation of Environmental Liabilities


	The Company’s Operation Site			Northern Ontario mine sites owned by Old Steelco Inc.			Total

Balance at March 31, 2020	$	34.3		$	4.6		$	38.9
Payments		(1.6	)		—			(1.6	)
Accretion of discount		2.3			0.3			2.6

Balance at March 31, 2021	$	35.0		$	4.9		$	39.9
Payments		(4.6	)		(1.0	)		(5.6	)
Accretion of discount		3.3			0.4			3.7

Balance at March 31, 2022	$	33.7		$	4.3		$	38.0

Cost of Sales (Tables)

12 Months Ended

Mar. 31, 2022

Text Block [Abstract]

Summary of Detailed Information About Cost of Sales Explanatory


Years ended,	March 31, 2022		March 31, 2021		March 31, 2020

Total cost of sales is comprised of:
Cost of steel revenue	$	2,054.6	$	1,457.9	$	1,822.7
Cost of freight revenue		173.1		150.4		175.1
Cost of non-steel revenue		64.3		29.4		39.2

	$	2,292.0	$	1,637.7	$	2,037.0

Inventories recognized as cost of sales:	$	2,118.9	$	2,974.6	$	1,861.9

Net inventory write-downs as a result of net realizable value lower than cost included in cost of sales:	$	2.8	$	2.5	$	—

Amortization

included in cost of steel revenue for the year ended March 31, 2022 was $

86.7

million (March 31, 2021 - $

86.8

million and March 31, 2020 - $

127.6

million). Wages and

benefits

included in cost of steel revenue for the year ended March 31, 2022 was $

305.6

million (March 31, 2021 - $

288.8

million and March 31, 2020

—

325.1

million).

Schedule I - Combined Condensed Statements of Cash Flows

12 Months Ended

Mar. 31, 2022

Parent Company Combined Condensed Statements Of Cash Flows [Abstract]

Combined Condensed Statements of Cash Flows

Schedule I – Combined Condensed Statements of Cash Flows


Years ended,	March 31, 2022			March 31, 2021			March 31, 2020

expressed in millions of Canadian dollars
Operating activities
Net income (loss)	$	857.7		$	(76.1	)	$	(175.9	)
Items not affecting cash:
Increase in fair value of warrant liability		6.4			—			—
Decrease in fair value of earnout liability		(78.1	)		—			—
Listing expense		235.6			—			—
Investment in shares of subsidiary		(1,028.8	)		62.0			175.9

		(7.2	)		(14.1	)		—
Net change in non-cash operating working capital		16.5			14.1			—

Cash used in operating activities	$	9.3		$	—		$	—

Cash used in investing activities	$	—		$	—		$	—

Financing activities
Dividends paid	$	(9.3	)	$	—		$	—

Cash used in financing activities	$	(9.3	)	$	—		$	—

Cash
Decrease in cash	$	—		$	—		$	—
Opening balance		—			—			—

Ending balance	$	—		$	—		$	—

Other Post-Employment Benefits (Tables)

12 Months Ended

Mar. 31, 2022

Statement [Line Items]

Disclosure In Tabular Form Of Acturial Assumptons For Pension Plans [Table Text Block]

The principal assumptions used for the purposes of the actuarial valuations were as follows:


As at and for the years ended,	March 31, 2022		March 31, 2021
Assumptions for determination of defined benefit cost:
Discount rate
Defined benefit obligation		3.41%		4.15%
Current service cost		3.68%		4.43%
Interest cost on benefit obligation		2.79%		3.65%
Interest cost on current service cost		3.58%		4.31%
Health care cost immediate trend rate		5.04%		5.09%
Assumptions for determination of defined benefit obligation:
Effective discount rate		4.31%		3.41%
Health care cost immediate trend rate		5.04%		5.04%
Assumptions for determination of defined benefit cost and defined benefit obligation:
Health care cost ultimate trend rate		4.00%		4.00%
Year ultimate health care cost trend rate reached		2040		2040
Salary Increases per annum		2.00%		2.00%
Mortality		105%CPM 2014 Private Projection CPM-B		105%CPM 2014 Private Projection CPM-B

Disclosure of Detailed Information About Other Post Employment Benefits Recognized in Statements of Income Loss Explanatory


Years ended,	March 31, 2022		March 31, 2021		March 31, 2020
Amounts recognized in net income (loss) were as follows:
Current service cost	$	4.0	$	3.2	$	4.0
Net interest cost		8.0		9.6		8.9

	$	12.0	$	12.8	$	12.9

Post employment benefit costs recognized in:
Cost of sales	$	3.6	$	2.8	$	3.6
Administrative and selling expense		0.4		0.4		0.4
Interest on pension liability		8.0		9.6		8.9

	$	12.0	$	12.8	$	12.9

Disclosure of Detailed Information About Other Post Employment Benefits Recognized in Statements of Other Comprehensive income Loss Explanatory

The components of amounts recognized in the consolidated statements of comprehensive income (loss) in respect of these other post-employment benefit plans are presented below:


Years ended,	March 31, 2022			March 31, 2021		March 31, 2020
Amounts recognized in other comprehensive (income) loss, were as follows:
Actuarial (income) losses on accrued post employment benefit liability	$	(60.0	)	$	28.8	$	(33.2	)
Less tax effect		—			—		2.6

	$	(60.0	)	$	28.8	$	(30.6	)

Summary of Other Comprehensive Income (Loss) in the Consolidated Statements of Changes in Shareholder's Equity

Reconciliation of the amounts recognized in accumulated other comprehensive income (loss) in the consolidated statements of changes in shareholder’s equity were as follows:


	Actuarial (gain) loss immediately recognized			Tax effect		Actuarial (gain) loss immediately recognized, net of tax


Balance at March 31, 2020	$	(22.8	)	$	—	$	(22.8	)
Actuarial loss immediately recognized		28.8			—		28.8
Balance at March 31, 2021	$	6.0		$	—	$	6.0

Actuarial gain immediately recognized		(60.0	)		—		(60.0	)

Balance at March 31, 2022	$	(54.0	)	$	—	$	(54.0	)

Summary of Continuities of the Defined Benefit Plan Assets and Obligations

Continuities of the other post-employment benefit plan assets and obligations are as follows:


Movements in the present value of the post-employment benefit plan assets were as follows:
Fair value of plan assets at beginning of year	$	—		$	—
Employer contributions		10.3			(11.0	)
Benefits paid		(10.3	)		11.0

Fair value of plan assets at end of the year, March 31, 2022 and March 31, 2021, respectively	$	—		$	—

Movements in the present value of the other post-employment benefit obligation were as follows:
Defined benefit obligation at the beginning of the year	$	297.8		$	267.3
Current service cost		4.0			3.2
Interest cost		8.0			9.6
Actuarial (gains) losses arising from financial assumptions		(31.6	)		30.9
Actuarial gains arising from demographic assumptions		(20.2	)		—
Actuarial gains from experience adjustments		(7.8	)		(2.2	)
Benefits paid		(10.3	)		(11.0	)

Defined benefit obli g ation at end of the year, March 31, 2022 and March 31, 2021, respectively	$	239.8		$	297.8

Environmental Liabilities

12 Months Ended

Mar. 31, 2022

Text Block [Abstract]

Environmental Liabilites

25.	ENVIRONMENTAL LIABILITIES


As at,	March 31, 2022		March 31, 2021
The carrying amount of Environmental liabilities in respect of:

The Company’s Operation Site	$	33.7	$	35.0
Northern Ontario mine sites owned by Old Steelco Inc.		4.3		4.9

	$	38.0	$	39.9

Current portion	$	4.5	$	4.5
Long-term portion		33.5		35.4

	$	38.0	$	39.9

On November

30, 2018, the Company entered into agreements with the Province of Ontario, through the Ministry of the Environment, Conservation and Parks and the Ministry of Energy, Northern Development and Mines. These agreements relate to the Company’s operation site, and certain Northern Ontario mine sites owned by Old Steelco Inc., and not purchased by the Company. These agreements limit the Company’s obligations with respect to legacy environmental contamination, and impose certain risk management, risk mitigation, site remediation and funding obligations on the Company. The Company recognizes the present value of these environmental liabilities over 20 years commencing November 2018 at a discount rate of 9.0%.

At March 31, 2022, the Company has provided letters of credit totalling of $16.1

million (March 31, 2021 - $

17.2 million) to the Ministry of Energy, Northern Development and Mines; $13.7

million in respect of the Company’s operation site (March 31, 2021 - $

13.7 million) and

$2.4

million (March 31, 2021 - $

3.5 million) in respect of certain Northern Ontario mine sites owned by Old Steelco Inc. Letters of credit are disclosed in Note 12 and Note 16.

Reconciliation of Environmental liabilities


	The Company’s Operation Site			Northern Ontario mine sites owned by Old Steelco Inc.			Total

Balance at March 31, 2020	$	34.3		$	4.6		$	38.9
Payments		(1.6	)		—			(1.6	)
Accretion of discount		2.3			0.3			2.6

Balance at March 31, 2021	$	35.0		$	4.9		$	39.9
Payments		(4.6	)		(1.0	)		(5.6	)
Accretion of discount		3.3			0.4			3.7

Balance at March 31, 2022	$	33.7		$	4.3		$	38.0

Merger Transaction - Additional Information (Detail) $ / shares in Units, $ in Millions, $ in Millions				12 Months Ended
	Oct. 19, 2021 CAD ($) shares	Oct. 19, 2021 USD ($) $ / shares shares	Oct. 01, 2020	Mar. 31, 2022 CAD ($)	Mar. 31, 2022 USD ($) $ / shares shares	Feb. 09, 2022 $ / shares shares
Disclosure of Merger Transaction Share Based [Line Items]
Reverse stock split percentage	71.76775%	71.76775%		71.76775%	71.76775%
Share based transaction fair value of instruments granted during the period	$ 421.3	$ 340.9
Class of warrants or rights warrants outstanding					24,179,000
Share Based Arrangements Other Equity Instruments Date Of Expiry				Dec. 31, 2025	Dec. 31, 2025
Number of days for determining the volume weighted average price of shares				5 days	5 days
Transfer from equity settled share based arrangements to liabilities settled share based arrangements value				$ 35.2	$ 28.7
Estimated Fair Value Of Other Equity Instruments Outstanding In A Share Based Payment Arrangement					11.25%
Warrants estimated fair value per share \| $ / shares					$ 3.29
Class of warrants or rights warrants outstanding per share \| $ / shares		$ 11.5
Public Warrants [Member]
Disclosure of Merger Transaction Share Based [Line Items]
Class of warrants or rights warrants outstanding		23,575,000
Class of warrants or rights term			5 years
Private Placement Warrants [Member]
Disclosure of Merger Transaction Share Based [Line Items]
Class of warrants or rights warrants outstanding		604,000
Merger Agreement [Member]
Disclosure of Merger Transaction Share Based [Line Items]
Earnout shares issuable shares					37,500,000
Earnout shares outstanding					1,616,305	35,883,692
Earnout shares fair value per share \| $ / shares					$ 11.25	$ 9.54
Private Investment In Public Equity Investors [Member] \| Subscription Agreement [Member]
Disclosure of Merger Transaction Share Based [Line Items]
Stock issued during the period shares	10,000,000	10,000,000
Shares issued price per share \| $ / shares		$ 10

Net Change In Non-Cash Operating Working Capital (Tables)

12 Months Ended

Mar. 31, 2022

Text Block [Abstract]

Summary Of Changes In Non Cash Operating Working Capital


Years ended,	March 31, 2022			March 31, 2021			March 31, 2020
Accounts receivable	$	(127.0	)	$	(47.2	)	$	88.4
Taxes payable and accrued taxes		(22.1	)		16.7			3.7
Inventories		(63.6	)		(33.6	)		(36.8	)
Prepaid expenses and other current assets		12.5			(70.3	)		20.2
Accounts payable and accrued liabilities		166.6			(21.2	)		(42.4	)
Derivative financial instruments (net)		12.5			(15.3	)		1.2
Secured term loan interest payment in kind		—			33.2			—

	$	(21.1	)	$	(137.7	)	$	34.3

Significant Accounting Policies (Policies)

12 Months Ended

Mar. 31, 2022

Text Block [Abstract]

Cash flow hedges

The effective portion of changes in the fair value of derivatives and other qualifying hedging instruments that are designated and qualify as cash flow hedge is recognized in other comprehensive income (loss) and accumulated under the heading of cash flow hedge reserve – unrealized loss, limited to the cumulative change in fair value of the hedged item from inception of the hedge. The gain or loss relating to the ineffective portion is recognized immediately in profit or loss, and is included in revenue (steel hedges) and cost of sales (natural gas hedge) line items.

When a hedging instrument expires or is sold, or when a hedge no longer meets the criteria for hedge accounting, any cumulative gain or loss in equity at that time remains in equity and is recognized when the forecasted transaction affects income (loss). When a forecasted transaction does not occur, the cumulative gain or loss that was reported in equity is immediately classified to the statement of profit and loss.

Retirement benefit costs

The Company provides pensions and certain health care, dental care, life insurance and other benefits for certain retired employees pursuant to Company policy. For defined benefit pension plans and other post-employment benefits, the defined benefit cost is actuarially determined on an annual basis by independent actuaries using the projected unit credit method. Remeasurement comprising of actuarial gains and losses, the effect of the asset ceiling and the return on plan assets (excluding interest) are recognized immediately in the consolidated statements of financial position with a charge to other comprehensive income (loss) in the period in which they occur. The Company has elected to transfer those amounts recognized in other comprehensive income (loss) to a separate reserve within equity.

Net-interest

is calculated by applying the discount rate to the net defined benefit liability. Defined benefit and other post-employment benefit costs are split into three categories:

•

service cost, past-service cost, gains and losses on curtailments and settlements;

•

net interest expense; and

•

remeasurement.

The Company recognizes the first two

components of defined benefit costs in profit or loss in its consolidated statements of net income (loss): service cost, past service cost, gains and losses on curtailments and settlements in Cost of sales and Administrative and selling expenses; and net interest expense in Interest on pension and other post-employment benefit obligations. The determination of a benefit expense requires assumptions such as the discount rate, the expected mortality, the expected rate of future compensation increases and the expected healthcare cost trend rate. Actual results will differ from estimated results which are based on these assumptions.

The asset or liability recognized in the consolidated statements of financial position represents the actual plan situation in the Company’s defined benefit and other post-employment benefit plans. All actuarial gains and losses that arise in calculating the present value of the defined benefit obligation and the plan assets, the remeasurement components, are recognized immediately in other comprehensive income (loss). Any defined benefit asset resulting from this calculation is limited to the present value of any economic benefit in the form of refunds from the plan or reduction in future contributions to the plan.

Payments to defined contribution retirement benefit plans are recognized as an expense when employees have rendered service entitling them to the contributions.

Short-term benefits

Short-term employee benefit obligations are measured on an undiscounted basis and are expensed as the related service is provided. A liability is recognized for the amount expected to be paid under short-term cash bonus or profit-sharing plans if the Company has a present legal or constructive obligation to pay this amount as a result of past service provided by the employee and the obligation can be estimated reliably.

Finance income

Finance income is comprised of interest income on short-term deposits.

Interest income

Interest income from financial assets is recognized when it is probable that the economic benefits will flow to the Company and the amount of income can be measured reliably. Interest income is accrued on a time basis, by reference to the principal outstanding and at the effective interest rate applicable.

Comprehensive Income (Loss)

Other comprehensive income (loss) (“OCI(L)”) includes foreign exchange gain on translation to the Company’s presentation currency from the US Dollar functional currency. OCI(L) includes actuarially determined gains and losses on post employment benefits offered to certain employees and the effect of any limits applied to the defined benefit asset. OCI(L) also includes unrealized loss on cash flow hedge reserve. Comprehensive income (loss) is composed of net income (loss) and OCI(L).

Accumulated OCI(L) is a separate component of Shareholders’ Equity which includes the accumulated balances of all components of OCI(L) which are recognized in comprehensive income (loss) but excluded from net income (loss).

Standards and Interpretations issued and not yet adopted

Proceeds before Intended Use

IAS 16 “Property, Plant and Equipment (PPE)” sets out an amendment prohibiting an entity from deducting from the cost of an item of PP&E any proceeds received from selling items produced while

the entity is preparing the asset for its intended use. The application of this amendment

is not expected to have a significant impact on the financial position and performance of the Company, or on the Company’s financial reporting. The amendment is effective for annual reporting periods beginning on or after January 1, 2022.

Cost of Fulfilling a Contract

IAS 37 “Onerous Contracts” sets out an amendment clarifying the meaning of “costs to fulfil a contract”. The amendment clarifies that, before a separate provision for an onerous contract is established, an entity recognizes any impairment loss that has occurred on assets used in fulfilling the contract, rather than on assets dedicated to that contract. The application of this amendment is not expected to have a significant impact on the financial position and performance of the Company, or on the Company’s financial reporting. The amendment is effective for annual reporting periods beginning on or after

January 1, 2022.

mended Disclosure for Accounting Policies

IAS 1 “Presentation of Financial Statements” sets out amendments that are intended to help preparers in deciding which accounting policies to disclose in their financial statements. The application of this amendment is not expected to have a significant impact on the financial position and performance of the Company, or on the Company’s financial reporting. The amendments are effective for annual reporting periods beginning on or after January 1, 2023.

Amended Scope of Recognition

IAS 12 “Income Taxes” sets out amendments that narrow the scope of recognition exemption in paragraphs 15 and 24 (recognition exemption) so that it no longer applies to transactions that, on initial recognition, give rise to equal taxable and deductible temporary differences. The application of this amendment is not expected to have a significant impact on the financial position and performance of the Company, or on the Company’s financial reporting. The amendments are effective for annual reporting periods beginning on or after January 1, 2023. Early adoption is permitted.

Definition of Accounting Estimates

IAS 8 “Accounting Policies, Changes in Accounting Estimates and Errors” sets out amendments introducing the definition of an accounting estimate and include other amendments to assist entities distinguish changes in accounting estimates from changes in accounting policies. The application of this amendment is not expected to

have a significant impact on the financial position and performance of the Company, or on the Company’s financial reporting. The amendment is effective for annual reporting periods beginning on or after January 1, 2023 and changes in accounting estimates that occur on or after the start of that period. Early adoption is

permitted.

Classification of Liabilities as Current or

Non-current

IAS 1 “Presentation of Financial Statements” sets out amendments to remove the requirement for a right to defer settlement or roll over of a liability for at least twelve months to be unconditional. Instead, such a right must have substance and exist at the end of the reporting period. The amendments also clarify how a company classifies a liability that includes a counterparty conversion option. The application of this amendment is not expected to have a significant impact on the financial position and performance of the Company, or on the Company’s financial reporting. This amendment is effective for annual reporting periods beginning on or after January 1, 2023. Early adoption is permitted.

Property, Plant and Equipment, Net (Tables)

12 Months Ended

Mar. 31, 2022

Text Block [Abstract]

Summary of Changes in Cost of Property Plant and Equipment

The

following table presents the changes to the cost of the Company’s property, plant and equipment for the years ended March 31, 2022 and March 31, 2021:


Cost	Freehold Land			Buildings			Machinery & Equipment			Computer Hardware			Right-of-use assets			Property under construction			Total

Balance at March 31, 2020	$	6.9		$	73.9		$	804.7		$	1.2		$	2.2		$	83.6		$	972.5
Additions		—			—			3.8			—			—			67.9			71.7
Transfers		—			0.4			107.2			0.1			—			(107.7	)		0.0
Disposals		—			—			(0.2	)		—			—			(1.7	)		(1.9	)
Foreign exchange		(0.8	)		(7.8	)		(87.4	)		(0.1	)		(0.3	)		(9.6	)		(105.9	)

Balance at March 31, 2021	$	6.1		$	66.5		$	828.1		$	1.2		$	1.9		$	32.6		$	936.4
Additions		—			—			3.3			—			—			164.6			167.9
Transfers		—			0.2			74.7			0.2			2.0			(77.1	)		—
Disposals		—			(0.3	)		(0.3	)		—			—			—			(0.6	)
Foreign exchange		—			(0.5	)		(5.5	)		—			0.1			(1.3	)		(7.2	)

Balance at March 31, 2022	$	6.1		$	65.9		$	900.3		$	1.4		$	4.0		$	118.8		$	1,096.5

Summary of Changes to Accumulated Amortization of Property Plant and Equipment

The

following table presents the changes to accumulated amortization on the Company’s property, plant and equipment for the years ended March 31, 2022 and March 31, 2021:


Accumulated Amortization:	Freehold Land		Buildings			Machinery & Equipment			Computer Hardware		Right-of-use assets		Property under construction		Total

Balance at March 31, 2020	$	—	$	18.9		$	153.5		$	0.4	$	0.2	$	—	$	173.0
Amortization expense		—		5.4			80.2			0.2		0.2		—		86.0
Foreign exchange		—		(2.4	)		(20.2	)		—		—		—		(22.6	)

Balance at March 31, 2021	$	—	$	21.9		$	213.5		$	0.6	$	0.4	$	—	$	236.5
Amortization expense		—		4.7			82.6			0.2		0.2		—		87.7
Disposals		—		—			0.3			—		—		—		0.3
Foreign exchange		—		—			(1.6	)		—		—		—		(1.7	)

Balance at March 31, 2022	$	—	$	26.6		$	294.8		$	0.8	$	0.6	$	—	$	322.8

Pension Benefits (Tables)

12 Months Ended

Mar. 31, 2022

Text Block [Abstract]

Summary of principal assumptions used for the purposes of the actuarial valuations

The principal assumptions used for the purposes of the actuarial valuations were as follows:


As at and for the years ended,	March 31, 2022		March 31, 2021
Assumptions for determination of defined benefit cost:
Discount rate
Defined benefit obligation		3.41%		4.15%
Current service cost		3.68%		4.43%
Interest cost on benefit obligation		2.79%		3.65%
Interest cost on current service cost		3.58%		4.31%
Health care cost immediate trend rate		5.04%		5.09%
Assumptions for determination of defined benefit obligation:
Effective discount rate		4.31%		3.41%
Health care cost immediate trend rate		5.04%		5.04%
Assumptions for determination of defined benefit cost and defined benefit obligation:
Health care cost ultimate trend rate		4.00%		4.00%
Year ultimate health care cost trend rate reached		2040		2040
Salary Increases per annum		2.00%		2.00%
Mortality		105%CPM 2014 Private Projection CPM-B		105%CPM 2014 Private Projection CPM-B

Summary of Continuities of the defined benefit plan assets and obligations

Continuities of the defined benefit plan assets and obligations are as follows:


Years ended,
Movements in the present value of the plan assets were as follows:
Fair value of plan assets at beginning of year	$	1,334.2		$	1,155.8
Actual return (net of investment management expenses)		(46.5	)		209.5
Administration expenses		(1.5	)		(1.2	)
Employer contributions		18.4			50.3
Benefits paid		(79.1	)		(80.2	)

Fair value of plan assets at end of the year, March 31, 2022 and March 31, 2021, respectively	$	1,225.5		$	1,334.2

Movements in the present value of the defined benefit obligation were as follows:
Defined benefit obligation at the beginning of the year	$	1,504.3		$	1,400.8
Current service cost		19.8			18.7
Interest cost		37.0			47.2
Actuarial (gains) losses arising from financial assumptions		(154.6	)		127.3
Effect of experience adjustments		16.2			(8.3	)
Effect of demographic assumptions		—			(1.2	)
Benefits paid		(79.1	)		(80.2	)

Defined benefit obligation at end of the y e ar, March 31, 2022 and March 31, 2021, respectively	$	1,343.6		$	1,504.3

Summary of Reconciliation of the amounts recognized in accumulated other comprehensive income (loss)

Reconciliation of the amounts recognized in accumulated other comprehensive income (loss) in the consolidated statements of changes in shareholder’s equity were as follows:


	Actuarial (gain) loss immediately recognized			Tax effect		Actuarial (gain) loss immediately recognized, net of tax


Balance at March 31, 2020	$	(22.8	)	$	—	$	(22.8	)
Actuarial loss immediately recognized		28.8			—		28.8
Balance at March 31, 2021	$	6.0		$	—	$	6.0

Actuarial gain immediately recognized		(60.0	)		—		(60.0	)

Balance at March 31, 2022	$	(54.0	)	$	—	$	(54.0	)

Summary of major categories of plan assets

The major categories of plan assets were as follows:


As at	March 31, 2022			March 31, 2021
Cash and cash equivalents		1	%		1	%
Equity instruments		45	%		51	%
Debt instruments		43	%		42	%
Other		11	%		6	%

		100	%		100	%

Significant Accounting Policies (Tables)

12 Months Ended

Mar. 31, 2022

Text Block [Abstract]

Summary of Detailed Information About Estimated Useful life

Depreciation is calculated generally by the straight-line method based on estimated useful lives as follow


Category of Property, Plant and Equipment		Range of Estimated Useful Life

Buildings		5 to 30 years
Machinery and equipment		5 to 40 years
Vehicles		6 to 12 years
Computer hardware		3 to 5 years

Taxes Payable and Accrued Taxes - Summary of Taxes Payable and Accrued Taxes (Detail) - CAD ($) $ in Millions	Mar. 31, 2022	Mar. 31, 2021
Disclosure of Detailed Information About Taxes Payable and Accrued Taxes [Abstract]
Carbon tax accrual	$ 3.1	$ 20.2
Taxes Payable and Accrued Taxes Current	$ 64.3	$ 27.2

Long-Term Debt (Tables)

12 Months Ended

Mar. 31, 2022

Disclosure Of Long Term Borrowings Other Than Bank Loan [Line Items]

Summary of Long Term Borrowings Other Than Bank Loans


As at,	March 31, 2022		March 31, 2021
The carrying amount of:
Secured Term Loan Facility due November 30, 2025
Current portion	$	—	$	3.6
Long-term portion		—		378.3

	$	—	$	381.9

Algoma Docks Term Loan Facility due May 31, 2025
Current portion	$	—	$	11.1
Long-term portion		—		64.9

	$	—	$	76.0

Less: unamortized financing costs
Current portion	$	—	$	1.1
Long-term portion		—		3.9

	$	—	$	5.0

	$	—	$	452.9

Current portion of long-term debt	$	—	$	13.6
Long-term portion of long-term debt		—		439.3

	$	—	$	452.9

Governmental Loans - Summary of Details in Tabular Form of Governmental Loans (Detail) - CAD ($) $ in Millions	Mar. 31, 2022	Mar. 31, 2021
Disclosure Details Of Governmental Loans [Line Items]
Long-term governmental loans	$ 85.2	$ 86.4
Current portion of governmental loans	10.0	0.0
Governmental loans current and non current	$ 95.2	$ 86.4

Environmental Liabilities - Summary of Environmental Liabilities (Detail) - CAD ($) $ in Millions	Mar. 31, 2022	Mar. 31, 2021
Disclosure of Detailed Information About Environmental liabilities [Line Items]
Environmental Liabilities	$ 38.0	$ 39.9
Current portion	4.5	4.5
Long-term portion	33.5	35.4
The Companys Operation Site [Member]
Disclosure of Detailed Information About Environmental liabilities [Line Items]
Environmental Liabilities	33.7	35.0
Northern Ontario mine sites owned by Old Steelco Inc [Member]
Disclosure of Detailed Information About Environmental liabilities [Line Items]
Environmental Liabilities	$ 4.3	$ 4.9

Bank Indebtedness

12 Months Ended

Mar. 31, 2022

Text Block [Abstract]

Bank Indebtedness

16.	BANK INDEBTEDNESS

On November 30, 2018, the Company obtained US $250.0 million in the form of a traditional asset-based revolving credit facility (the “Revolving Credit Facility”). The Revolving Credit Facility is secured by substantially all of the Company’s assets. Under the General Security Agreement, the Revolving

Credit Facility has a priority claim on the accounts receivable and the inventories of the Company and a secondary claim on the rest of the Company’s assets. The Revolving Credit Facility bears interest at a rate of London Inter-Bank Overnight Rate (“LIBOR”) plus an applicable margin of

1.5

At March 31, 2022, the Company had drawn $0.1 million (US $0.09 million), and there was $278.2 million (US $222.6 million) of unused availability after taking into account $34.1 million (US $27.3 million) of outstanding letters of credit and borrowing base reserves. At March 31, 2021, the Company had drawn $90.1 million (US $71.7 million), and there was $200.8 million (US $156.5 million) of unused availability after taking into account $27.4 million (US $21.8 million) of outstanding letters of credit, and borrowing base reserves. The Revolving Credit Facility has an initial maturity date of

November 30, 2023.

Transaction

costs

related to the Revolving Credit Facility amounted to $

7.0

million, and are disclosed as other assets in the consolidated statements of financial position, and have been amortized to net

income

(loss) on a straight line basis over the life of this facility. At March 31, 2022, the unamortized transaction costs related to the Revolving Credit Facility amounted to $

2.1

million (March 31,

2021 - $

3.5

million)

Under the terms of the Revolving Credit Facility the Company is required to be in compliance with various restrictive covenants which, among other things, limit the incurrence of additional indebtedness, limit investments and dividends, permitted acquisitions, asset sales, liens and encumbrances and other matters customarily restricted in such agreements. At March 31, 2022 and March 31, 2021, the Company was in compliance with these covenants.

The changes in the Company’s bank indebtedness for the years ended March 31, 2022 and March 31, 202

arising from financing activities are presented below:


Balance at March 31, 2020	$	256.2
Revolving Credit Facility drawn		173.3
Repayment of Revolving Credit Facility		(318.4	)
Exchange		(21.0	)

Balance at March 31, 2021	$	90.1
Revolving Credit Facility drawn		18.3
Repayment of Revolving Credit Facility		(105.1	)
Foreign exchange		(3.2	)

Balance at March 31, 2022	$	0.1

Administrative and Selling Expenses - Additional Information (Detail) - CAD ($) $ in Millions	12 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Government Grant [Member]
Statement [Line Items]
Adjustment to personnel expenses	$ 4.2	$ 0.0

Tax Matters (Tables)

12 Months Ended

Mar. 31, 2022

Text Block [Abstract]

Summary of Detailed Information About Components of Income Tax Expense Explanatory

The components of income tax (recovery) expense for the years ended March 31, 2022, March 31, 2021, and March 31, 2020 are as follows:


Years ended,	March 31, 2022		March 31, 2021		March 31, 2020
Income tax expense (recovery) recognized in net income (loss):

Current tax expense	$	197.2	$	—	$	—
Deferred income tax expense		101.7		—		(4.3	)

	$	298.9	$	—	$	(4.3	)

Income tax expense recognized in other comprehensive income (loss):
Tax effect of net unrealized loss on cash flow hedges flow hedges	$	7.8	$	—	$	—
Tax effect of actuarial gains on defined benefit pension obligation		—		—		4.6
Tax effect of actuarial gains on other post-employment benefits		—		—		2.6

	$	7.8	$	—	$	7.2

Summary of Income taxes in the consolidated statements of net (loss) income

Income taxes in the consolidated statements of net income (loss) for the years ended March 31, 2022, March 31, 2020 and March 31, 2020 vary from amounts that would be computed by applying statutory income tax rates for the following reason:


Years ended,	March 31, 2022			March 31, 2021			March 31, 2020

Income (loss) before income taxes	$	1,156.6		$	(76.1	)	$	(180.2	)

Income tax expense (recovery) based on the applicable tax rate of 25%	$	289.1		$	(19.0	)	$	(45.1	)
Add / (deduct):
Non-deductible post-employment benefits payments		3.0			3.2			3.1
Non-deductible pension contributions		4.7			3.3			3.8
Non-deductible accretion of financial obligations		0.8			2.7			1.7
Change in unrecognized tax benefits		(45.1	)		2.7			45.9
Adjustment in respect of prior years		2.2			7.2			(13.7	)
Share-based payment compensation		1.4			—			—
Listing expense		58.9			—			—
Changes in fair value of warrant liability		1.6			—			—
Changes in fair value of earnout liability		(19.2	)		—			—
Other		1.5			—			—

Income tax expense (recovery) based on the applicable	$	298.9		$	—		$	(4.3	)

Other Post-Employment Benefits - Summary of Continuities of the Defined Benefit Plan Assets and Obligations (Detail) - CAD ($) $ in Millions	12 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Statement [Line Items]
Benefits paid	$ 10.3	$ 11.0

Revenue and Segmented Information - Additional Information (Detail) - Customer	12 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Mar. 31, 2020
Disclosure Of Revenue [Line Items]
Number Of customer over ten percent revenue benchmark	1	0	1

Label

Element

Value

NumberOfSharesIssuedDuringPeriod

astl_Numberofsharesissuedduringperiod

71,767,775

^[1]

NumberOfSharesIssuedDuringPeriod

astl_Numberofsharesissuedduringperiod

40,306,320

NumberOfSharesIssuedDuringPeriod

astl_Numberofsharesissuedduringperiod

35,883,692

NumberOfSharesIssuedDuringPeriod

astl_Numberofsharesissuedduringperiod

NumberOfSharesIssuedDuringPeriod

astl_Numberofsharesissuedduringperiod

147,957,790

Accounts receivable overdue period.

astl_AccountsReceivableOverduePeriod.

90 days

Current Liabilities From Share based Payment Transactions

astl_CurrentLiabilitiesFromShareBasedPaymentTransactions

$ 45,400,000

Current Liabilities From Share based Payment Transactions

astl_CurrentLiabilitiesFromShareBasedPaymentTransactions

10,000,000

Current Liabilities From Share based Payment Transactions

astl_CurrentLiabilitiesFromShareBasedPaymentTransactions

45,400,000

Adjustments For increase decrease In Fair Value Of Warrant Liability

astl_AdjustmentsForIncreaseDecreaseInFairValueOfWarrantLiability

6,400,000

Decrease Through Financing Cash Flows Liabilities Arising From Financing Activities

astl_DecreaseThroughFinancingCashFlowsLiabilitiesArisingFromFinancingActivities

(318,400,000)

Decrease Through Financing Cash Flows Liabilities Arising From Financing Activities

astl_DecreaseThroughFinancingCashFlowsLiabilitiesArisingFromFinancingActivities

(105,100,000)

Increase Decrease Through Unrecognized Deferred Tax Asset