Revenue Recognition (Tables)

3 Months Ended

Jun. 30, 2018

Revenue Recognition [Abstract]

Disaggregation of Revenue

The table below presents revenue to external customers for each of the Company’s business segments by primary end market, by geographic location and based upon the timing of revenue recognition.

	Three months ended June 30, 2018
	VTS		CIS		BHVAC		Segment Total
Primary end market:
Automotive	$	145.1	$	-	$	-	$	145.1
Commercial vehicle		99.7		-		-		99.7
Off-highway		83.8		-		-		83.8
Commercial HVAC		-		84.5		32.0		116.5
Commercial refrigeration		-		50.8		-		50.8
Data center cooling		-		34.1		12.2		46.3
Industrial cooling		-		11.5		-		11.5
Other		24.2		3.0		0.8		28.0
Net sales	$	352.8	$	183.9	$	45.0	$	581.7
Geographic location:
Americas	$	150.9	$	104.8	$	25.3	$	281.0
Europe		148.4		65.2		19.7		233.3
Asia		53.5		13.9		-		67.4
Net sales	$	352.8	$	183.9	$	45.0	$	581.7
Timing of revenue recognition:
Products transferred at a point in time	$	342.8	$	153.6	$	45.0	$	541.4
Products transferred over time		10.0		30.3		-		40.3
Net sales	$	352.8	$	183.9	$	45.0	$	581.7

Contract Assets and Contract Liabilities from Contracts with Customers

Contract assets and contract liabilities from contracts with customers were as follows:

	June 30, 2018		March 31, 2018
Contract assets		18.8		13.5
Contract liabilities		11.7		12.4

Impacts of Adopting New Accounting Guidance

The impacts from the adoption of the new revenue recognition guidance to the Company’s consolidated statement of operations for the three months ended June 30, 2018 and its consolidated balance sheet as of June 30, 2018 were as follows:

	Three months ended June 30, 2018
	As Reported		Impact of New Accounting Guidance			Results Without Impact of New Accounting Guidance
Net sales	$	566.1	$	(1.2	)	$	564.9
Net earnings attributable to Modine		22.0		(0.3	)		21.7
Net earnings per share attributable to Modine shareholders:
Basic	$	0.43	$	(0.01	)	$	0.43
Diluted		0.43		(0.01	)		0.42

	June 30, 2018
	As Reported		Impact of New Accounting Guidance			Balances Without Impact of New Accounting Guidance
ASSETS
Inventories	$	203.7	$	2.8		$	206.5
Other current assets		68.6		(4.2	)		64.4
Deferred income taxes		94.9		0.1			95.0
LIABILITIES AND SHAREHOLDERS' EQUITY
Deferred income taxes	$	9.1	$	(0.2	)	$	8.9
Retained earnings		409.3		(1.1	)		408.2