Table of Contents Management’s Discussion and Analysis 1. Highlights 1 2. Introduction 2 3. About CAE 6 4. Foreign exchange 7 5. Consolidated results 8 6. Results by segment 12 7. Consolidated cash movements and liquidity 16 8. Consolidated financial position 17 9. Discontinued operations 19 10. Business risk and uncertainty 20 11. Non-IFRS and other financial measures and supplementary non-financial information 21 12. Changes in accounting policies 26 13. Internal control over financial reporting 27 14. Se ...