Segment Information

6 Months Ended

Sep. 30, 2019

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 September 30,
	2019								2018
	External Sales		Inter-segment Sales			Total			External Sales		Inter-segment Sales			Total
Net sales:
VTS	$	288.8	$	10.5		$	299.3		$	321.5	$	14.1		$	335.6
CIS		155.7		1.0			156.7			177.4		0.8			178.2
BHVAC		55.7		0.3			56.0			50.0		0.7			50.7
Segment total		500.2		11.8			512.0			548.9		15.6			564.5
Corporate and eliminations		-		(11.8	)		(11.8	)		-		(15.6	)		(15.6	)
Net sales	$	500.2	$	-		$	500.2		$	548.9	$	-		$	548.9

	Six months ended September 30,
	2019								2018
	External Sales		Inter-segment Sales			Total			External Sales		Inter-segment Sales			Total
Net sales:
VTS	$	601.4	$	24.4		$	625.8		$	659.8	$	28.6		$	688.4
CIS		323.6		1.9			325.5			360.9		1.2			362.1
BHVAC		104.2		0.8			105.0			94.3		1.4			95.7
Segment total		1,029.2		27.1			1,056.3			1,115.0		31.2			1,146.2
Corporate and eliminations		-		(27.1	)		(27.1	)		-		(31.2	)		(31.2	)
Net sales	$	1,029.2	$	-		$	1,029.2		$	1,115.0	$	-		$	1,115.0

	Three months ended September 30,											Six months ended September 30,
	2019						2018					2019					2018
	$'s			% of sales			$'s		% of sales			$'s		% of sales			$'s		% of sales
Gross profit:
VTS	$	35.3			11.8	%	$	44.6		13.3	%	$	80.3		12.8	%	$	98.6		14.3	%
CIS		22.9			14.6	%		28.3		15.9	%		47.2		14.5	%		56.9		15.7	%
BHVAC		17.7			31.7	%		15.0		29.5	%		31.4		29.9	%		26.6		27.8	%
Segment total		75.9			14.8	%		87.9		15.6	%		158.9		15.0	%		182.1		15.9	%
Corporate and eliminations		(0.2	)		-			-		-			0.2		-			0.1		-
Gross profit	$	75.7			15.1	%	$	87.9		16.0	%	$	159.1		15.5	%	$	182.2		16.3	%

	Three months ended September 30,						Six months ended September 30,
	2019			2018			2019			2018
Operating income:
VTS	$	7.4		$	14.1		$	24.7		$	39.6
CIS		8.5			12.9			17.5			26.1
BHVAC		8.8			4.8			14.1			8.0
Segment total		24.7			31.8			56.3			73.7
Corporate and eliminations		(18.7	)		(9.0	)		(32.2	)		(16.1	)
Operating income	$	6.0		$	22.8		$	24.1		$	57.6

	September 30, 2019		March 31, 2019
Total assets: (a)
VTS	$	755.3	$	749.9
CIS		612.8		604.2
BHVAC		103.4		89.4
Corporate and eliminations		93.0		94.5
Total assets	$	1,564.5	$	1,538.0

(a) The Company adopted new lease accounting guidance and, as a result, recorded $61.3 million of operating lease assets on its consolidated balance sheet on April 1, 2019.  See Note 1 for additional information.