Acquisition of Luvata HTS (Tables)

6 Months Ended

Sep. 30, 2017

Acquisition of Luvata HTS [Abstract]

Preliminary allocation of purchase price

The Company’s allocation of the purchase price for its acquisition of Luvata HTS is as follows:

Cash and cash equivalents	$	27.4
Trade accounts receivable		86.1
Inventories		55.0
Property, plant and equipment		120.4
Intangible assets		130.2
Goodwill		151.9
Other assets		39.1
Accounts payable		(73.7	)
Accrued compensation and employee benefits		(24.3	)
Deferred income taxes		(39.5	)
Pensions		(14.3	)
Other liabilities		(42.7	)
Purchase price	$	415.6

Supplemental proforma information

The following unaudited supplemental pro forma information presents the Company’s consolidated results of operations as though the acquisition of Luvata HTS had occurred at the beginning of fiscal 2016.  This pro forma financial information is presented for illustrative purposes only and is not considered to be indicative of the operating results that would have been achieved had the acquisition been completed as of the date indicated.

	Three months ended September 30, 2016		Six months ended September 30, 2016
Net sales	$	466.1	$	953.8
Net earnings attributable to Modine		2.3		18.3
Net earnings per share attributable to Modine shareholders:
Basic	$	0.05	$	0.37
Diluted		0.05		0.37