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Revenue Recognition (Tables)
 12 Months Ended
Mar. 31, 2019
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:

  
Year ended March 31, 2019
 
  
VTS
  
CIS
  
BHVAC
  
Segment
Total
 
Primary end market:
            
Automotive
 
$
542.8
  
$
-
  
$
-
  
$
542.8
 
Commercial vehicle
  
387.6
   
-
   
-
   
387.6
 
Off-highway
  
314.1
   
-
   
-
   
314.1
 
Commercial HVAC&R
  
-
   
506.3
   
167.7
   
674.0
 
Data center cooling
  
-
   
145.7
   
41.3
   
187.0
 
Industrial cooling
  
-
   
47.8
   
-
   
47.8
 
Other
  
107.2
   
7.8
   
3.4
   
118.4
 
Net sales
 
$
1,351.7
  
$
707.6
  
$
212.4
  
$
2,271.7
 
                 
Geographic location:
                
Americas
 
$
613.7
  
$
413.6
  
$
124.9
  
$
1,152.2
 
Europe
  
538.2
   
244.8
   
87.5
   
870.5
 
Asia
  
199.8
   
49.2
   
-
   
249.0
 
Net sales
 
$
1,351.7
  
$
707.6
  
$
212.4
  
$
2,271.7
 
                 
Timing of revenue recognition:
                
Products transferred at a point in time
 
$
1,308.5
  
$
571.1
  
$
212.4
  
$
2,092.0
 
Products transferred over time
  
43.2
   
136.5
   
-
   
179.7
 
Net sales
 
$
1,351.7
  
$
707.6
  
$
212.4
  
$
2,271.7
 
Contract Assets and Contract Liabilities from Contracts with Customers
Contract assets and contract liabilities from contracts with customers were as follows:

  
March 31, 2019
  
March 31, 2018
 
Contract assets
 
$
22.6
  
$
13.5
 
Contract liabilities
  
4.0
   
6.8
 
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 year ended March 31, 2019 and its consolidated balance sheet as of March 31, 2019 were as follows:

  
Year ended March 31, 2019
 
  
As Reported
  
Impact of New
Accounting Guidance
  
Results Without
Impact of New Accounting
Guidance
 
Net sales
 
$
2,212.7
  
$
(4.4
)
 
$
2,208.3
 
Net earnings attributable to Modine
  
84.8
   
(2.0
)
  
82.8
 
             
Net earnings per share attributable to Modine shareholders:
            
Basic
 
$
1.67
  
$
(0.04
)
 
$
1.63
 
Diluted
  
1.65
   
(0.04
)
  
1.61
 

  
March 31, 2019
 
  
As Reported
  
Impact of New
Accounting Guidance
  
Balances Without
Impact of New Accounting
Guidance
 
ASSETS
         
Inventories
 
$
200.7
  
$
3.8
  
$
204.5
 
Other current assets
  
65.8
   
(7.4
)
  
58.4
 
Deferred income taxes
  
97.1
   
0.6
   
97.7
 
             
LIABILITIES AND SHAREHOLDERS’ EQUITY
            
Deferred income taxes
 
$
8.2
  
$
(0.3
)
 
$
7.9
 
Retained earnings
  
472.1
   
(2.7
)
  
469.4