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Operating Segment Information and Concentrations of Risk (Tables)
12 Months Ended
Mar. 31, 2024
Segment Reporting [Abstract]  
Summary of Operating Segments
The following is the Company’s operating segment information: 
 
Net Sales
Years Ended 31 March
(Millions of US dollars)202420232022
North America Fiber Cement$2,891.4 $2,787.6 $2,551.3 
Asia Pacific Fiber Cement562.8 539.2 574.9 
Europe Building Products482.1 450.3 488.5 
Worldwide total$3,936.3 $3,777.1 $3,614.7 
 
Operating Income
Years Ended 31 March
(Millions of US dollars)202420232022
North America Fiber Cement$921.1 $767.5 $741.2 
Asia Pacific Fiber Cement166.1 142.8 160.8 
Europe Building Products45.0 26.5 62.9 
Research and Development(37.0)(33.3)(34.4)
Segments total1,095.2 903.5 930.5 
General Corporate(327.8)(162.1)(247.9)
Total operating income767.4 741.4 682.6 
Depreciation and Amortization
Years ended 31 March
(Millions of US dollars)202420232022
North America Fiber Cement$133.8 $126.1 $114.4 
Asia Pacific Fiber Cement17.0 14.7 13.6 
Europe Building Products29.7 28.0 29.8 
General Corporate2.4 1.8 2.8 
Research and Development2.1 2.0 1.2 
Total$185.0 $172.6 $161.8 
Research and Development Expenses
 
Years Ended 31 March
(Millions of US dollars)202420232022
North America Fiber Cement$8.4 $5.5 $5.3 
Asia Pacific Fiber Cement1.3 1.3 1.5 
Europe Building Products3.3 1.7 0.9 
Research and Development34.0 31.1 30.3 
$47.0 $39.6 $38.0 
 
Total Identifiable Assets
31 March
(Millions of US dollars)20242023
North America Fiber Cement$1,871.8 $1,672.9 
Asia Pacific Fiber Cement434.9 509.7 
Europe Building Products846.6 781.5 
Research and Development21.7 15.6 
Segments total3,175.0 2,979.7 
General Corporate 1
1,737.6 1,499.4 
Worldwide total$4,912.6 $4,479.1 
Summary of Geographical Information
The following is the Company’s geographical information:
 
Net Sales
Years Ended 31 March
(Millions of US dollars)202420232022
North America 2
$2,891.4 $2,787.6 $2,551.3 
Australia403.8 380.9 391.7 
Germany140.5 137.8 165.0 
New Zealand87.7 88.1 115.9 
Other Countries 3
412.9 382.7 390.8 
Worldwide total$3,936.3 $3,777.1 $3,614.7 
   
 
Total Identifiable Assets
31 March
(Millions of US dollars) 20242023
North America 2
$1,879.7 $1,679.8 
Australia334.6 398.8 
Germany502.7 490.9 
New Zealand29.5 41.2 
Other Countries 3
428.5 369.0 
Segments total3,175.0 2,979.7 
General Corporate 1
1,737.6 1,499.4 
Worldwide total$4,912.6 $4,479.1 
____________
1Included in General Corporate are deferred tax assets for each operating segment that are not held directly accountable for deferred income taxes and Asbestos-related assets.
2The amounts disclosed for North America are substantially all related to the USA.
3Included are all other countries that account for less than 5% of net sales and total identifiable assets individually, primarily in the Philippines, Spain and other European countries.
Summary of Gross Sales by Major Customers The following represents net sales generated by this customer, which is from the North America Fiber Cement segment:
 
Years Ended 31 March
(Millions of US dollars)202420232022
Customer A$558.2 14.2 %$450.1 12.0 %$418.3 12.0 %