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Restructuring and Other Similar Charges
6 Months Ended
Sep. 30, 2019
Restructuring and Related Activities [Abstract]  
Restructuring and Other Similar Charges Restructuring and Other Similar Charges
During fiscal 2020, the Company continued to execute various restructuring actions. These initiatives were implemented to drive efficiencies and reduce operating costs while also modifying the Company's footprint to reflect changes in the markets it serves, the impact of acquisitions on the Company's overall manufacturing capacity and the refinement of its overall product portfolio. These restructuring actions primarily resulted in workforce reductions, lease termination costs, and other facility rationalization costs. Management expects to continue executing initiatives and select product-line rationalizations to optimize its operating margin and manufacturing footprint. As such, the Company expects further expenses related to workforce reductions, potential impairment or accelerated depreciation of assets, lease termination costs, and other facility rationalization costs. The Company's restructuring plans are preliminary and related expenses are not yet estimable.
The following table summarizes the Company's restructuring and other similar charges during the three and six months ended September 30, 2019 and September 30, 2018 by classification of operating segment (in millions):
 
 
Restructuring and Other Similar Charges
Three Months Ended September 30, 2019
 
 
Process & Motion Control
 
Water Management
 
Corporate
 
Consolidated
Employee termination benefits
 
$
1.8

 
$
0.1

 
$

 
$
1.9

Contract termination and other associated costs
 
0.2

 

 

 
0.2

Total restructuring and other similar costs
 
$
2.0

 
$
0.1

 
$

 
$
2.1

 
 
Restructuring and Other Similar Charges
Six Months Ended September 30, 2019
 
 
Process & Motion Control
 
Water Management
 
Corporate
 
Consolidated
Employee termination benefits
 
$
4.4

 
$
0.4

 
$

 
$
4.8

Contract termination and other associated costs
 
0.5

 

 

 
0.5

Total restructuring and other similar costs
 
$
4.9

 
$
0.4

 
$

 
$
5.3

 
 
Restructuring and Other Similar Charges
Three Months Ended September 30, 2018
 
 
Process & Motion Control
 
Water Management
 
Corporate
 
Consolidated
Employee termination benefits
 
$
1.9

 
$

 
$

 
$
1.9

Contract termination and other associated costs
 
0.8

 

 
1.0

 
1.8

Total restructuring and other similar costs
 
$
2.7

 
$

 
$
1.0

 
$
3.7


 
 
Restructuring and Other Similar Charges
Six Months Ended September 30, 2018
 
 
Process & Motion Control
 
Water Management
 
Corporate
 
Consolidated
Employee termination benefits
 
$
3.7

 
$
0.3

 
$
0.6

 
$
4.6

Contract termination and other associated costs
 
1.0

 
0.1

 
1.1

 
2.2

Total restructuring and other similar costs
 
$
4.7

 
$
0.4

 
$
1.7

 
$
6.8


The following table summarizes the activity in the Company's restructuring accrual for the six months ended September 30, 2019 (in millions):
 
 
Employee termination benefits
 
Contract termination and other associated costs
 
Total
Restructuring accrual, March 31, 2019 (1)
 
$
2.4

 
$
1.9

 
$
4.3

Charges
 
4.8

 
0.5

 
5.3

Cash payments
 
(3.2
)
 
(1.2
)
 
(4.4
)
Restructuring accrual, September 30, 2019 (1)
 
$
4.0

 
$
1.2

 
$
5.2

____________________
(1)
The restructuring accrual is included in other current liabilities in the condensed consolidated balance sheets.

In connection with the ongoing supply chain optimization and footprint repositioning initiatives, the Company has taken several actions to consolidate existing manufacturing facilities and rationalize its product offerings. These actions require the Company to assess whether the carrying amount of impacted long-lived assets will be recoverable as well as whether the remaining useful lives require adjustment. As a result, the Company recognized accelerated depreciation of $0.7 million and $1.3 million during the three and six months ended September 30, 2019, and $1.2 million and $2.5 million during the three and six months ended September 30, 2018. Accelerated depreciation is recorded within Cost of sales in the condensed consolidated statements of operations.