Segment Information

9 Months Ended

Dec. 31, 2013

Segment Information [Abstract]

Segment Information

Note 19: Segment Information

The following is a summary of net sales, gross profit, operating income, and total assets by segment:

	Three months ended December 31,						Nine months ended December 31,
	2013			2012			2013			2012
Net sales:
North America	$	128.9		$	128.2		$	423.6		$	425.2
Europe		140.5			115.7			425.6			359.9
South America		27.4			31.7			93.6			97.1
Asia		17.1			13.2			51.6			42.8
Commercial Products		37.0			41.3			104.2			105.3
Segment net sales		350.9			330.1			1,098.6			1,030.3
Corporate and eliminations		(3.9	)		(4.0	)		(11.6	)		(13.9	)
Net sales	$	347.0		$	326.1		$	1,087.0		$	1,016.4

	Three months ended December 31,										Nine months ended December 31,
	2013					2012					2013					2012
Gross profit:			% of sales					% of sales					% of sales					% of sales
North America	$	20.0		15.5	%	$	17.3		13.5	%	$	70.5		16.6	%	$	59.4		14.0	%
Europe		17.2		12.2	%		12.1		10.4	%		51.2		12.0	%		44.7		12.4	%
South America		4.5		16.3	%		5.6		17.5	%		16.4		17.5	%		16.1		16.5	%
Asia		2.0		11.7	%		-		0.2	%		6.1		11.8	%		0.5		1.1	%
Commercial Products		13.1		35.5	%		13.1		31.6	%		31.4		30.1	%		31.1		29.5	%
Segment gross profit		56.8		16.2	%		48.1		14.6	%		175.6		16.0	%		151.8		14.7	%
Corporate and eliminations		-		-			0.1		-			0.3		-			0.7		-
Gross profit	$	56.8		16.4	%	$	48.2		14.8	%	$	175.9		16.2	%	$	152.5		15.0	%

	Three months ended December 31,						Nine months ended December 31,
	2013			2012			2013			2012
Operating income (loss):
North America	$	8.7		$	8.2		$	34.7		$	28.9
Europe (a)		(5.3	)		(7.9	)		6.0			(22.6	)
South America		1.1			2.6			6.2			7.6
Asia		(0.6	)		(2.5	)		(2.0	)		(7.1	)
Commercial Products		5.3			4.7			7.5			8.3
Segment operating income		9.2			5.1			52.4			15.1
Corporate and eliminations (a)		(8.3	)		(8.9	)		(21.9	)		(21.8	)
Operating income (loss)	$	0.9		$	(3.8	)	$	30.5		$	(6.7	)

	December 31, 2013		March 31, 2013
Total assets:
North America	$	202.3	$	218.3
Europe		354.8		332.2
South America		75.9		91.8
Asia		92.9		91.3
Commercial Products (b)		133.7		73.7
Corporate and eliminations		29.9		11.5
Total assets	$	889.5	$	818.8

(a) Segment operating income for fiscal 2013 has been recast to conform to the fiscal 2014 presentation. The Company has modified its internal financial reporting of intercompany charges for research and development and intercompany royalties between Corporate and the Europe segment.  For the three and nine months ended December 31, 2012, the impact was $2.2 million and $6.8 million, respectively. There was no impact on the total Company financial results.

(b) Total assets within the Commercial Products segment included receivables and cash advances from the Company’s insurance provider related to the Airedale fire, which totaled $50.0 million as of December 31, 2013.  See Note 2 for additional information.