Segment Information

9 Months Ended

Dec. 31, 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 December 31,
	2019								2018
	External Sales		Inter-segment Sales			Total			External Sales		Inter-segment Sales			Total
Net sales:
VTS	$	262.8	$	9.1		$	271.9		$	311.5	$	11.8		$	323.3
CIS		146.3		1.2			147.5			166.1		0.9			167.0
BHVAC		64.3		0.6			64.9			63.4		0.8			64.2
Segment total		473.4		10.9			484.3			541.0		13.5			554.5
Corporate and eliminations		-		(10.9	)		(10.9	)		-		(13.5	)		(13.5	)
Net sales	$	473.4	$	-		$	473.4		$	541.0	$	-		$	541.0

	Nine months ended December 31,
	2019								2018
	External Sales		Inter-segment Sales			Total			External Sales		Inter-segment Sales			Total
Net sales:
VTS	$	864.2	$	33.5		$	897.7		$	971.3	$	40.4		$	1,011.7
CIS		469.9		3.1			473.0			527.0		2.1			529.1
BHVAC		168.5		1.4			169.9			157.7		2.2			159.9
Segment total		1,502.6		38.0			1,540.6			1,656.0		44.7			1,700.7
Corporate and eliminations		-		(38.0	)		(38.0	)		-		(44.7	)		(44.7	)
Net sales	$	1,502.6	$	-		$	1,502.6		$	1,656.0	$	-		$	1,656.0

	Three months ended December 31,											Nine months ended December 31,
	2019						2018					2019						2018
	$'s			% of sales			$'s		% of sales			$'s			% of sales			$'s		% of sales
Gross profit:
VTS	$	28.9			10.6	%	$	41.4		12.8	%	$	109.2			12.2	%	$	140.0		13.8	%
CIS		22.7			15.4	%		28.2		16.9	%		69.9			14.8	%		85.1		16.1	%
BHVAC		23.1			35.5	%		22.0		34.3	%		54.5			32.1	%		48.6		30.4	%
Segment total		74.7			15.4	%		91.6		16.5	%		233.6			15.2	%		273.7		16.1	%
Corporate and eliminations		(1.2	)		-			0.1		-			(1.0	)		-			0.2		-
Gross profit	$	73.5			15.5	%	$	91.7		16.9	%	$	232.6			15.5	%	$	273.9		16.5	%

	Three months ended December 31,						Nine months ended December 31,
	2019			2018			2019			2018
Operating income:
VTS	$	4.3		$	15.5		$	29.0		$	55.1
CIS		8.3			13.1			25.8			39.2
BHVAC		13.5			13.0			27.6			21.0
Segment total		26.1			41.6			82.4			115.3
Corporate and eliminations		(17.9	)		(8.0	)		(50.1	)		(24.1	)
Operating income	$	8.2		$	33.6		$	32.3		$	91.2

	December 31, 2019		March 31, 2019
Total assets: (a)
VTS	$	716.1	$	749.9
CIS		623.3		604.2
BHVAC		103.4		89.4
Corporate and eliminations		92.4		94.5
Total assets	$	1,535.2	$	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.