CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($) $ in Millions	Dec. 31, 2019		Mar. 31, 2019
ASSETS
Cash and cash equivalents	$ 36.2		$ 41.7
Trade accounts receivable - net	283.7		338.6
Inventories	223.9		200.7
Other current assets	67.5		65.8
Total current assets	611.3		646.8
Property, plant and equipment - net	467.4		484.7
Intangible assets - net	109.5		116.2
Goodwill	168.4		168.5
Deferred income taxes	96.1		97.1
Other noncurrent assets	82.5		24.7
Total assets	1,535.2		1,538.0	[1]
LIABILITIES AND SHAREHOLDERS' EQUITY
Short-term debt	101.2		66.0
Long-term debt - current portion	16.2	[2]	48.6
Accounts payable	236.9		280.9
Accrued compensation and employee benefits	69.5		81.7
Other current liabilities	50.4		39.9
Total current liabilities	474.2		517.1
Long-term debt	330.3		335.1
Deferred income taxes	8.5		8.2
Pensions	95.5		101.7
Other noncurrent liabilities	83.7		34.8
Total liabilities	992.2		996.9
Commitments and contingencies (see Note 17)
Shareholders' equity:
Preferred stock, $0.025 par value, authorized 16.0 million shares, issued - none	0.0		0.0
Common stock, $0.625 par value, authorized 80.0 million shares, issued 53.3 million and 52.8 million shares	33.2		33.0
Additional paid-in capital	243.7		238.6
Retained earnings	476.6		472.1
Accumulated other comprehensive loss	(179.2)		(178.4)
Treasury stock, at cost, 2.5 million and 2.1 million shares	(37.0)		(31.4)
Total Modine shareholders' equity	537.3		533.9
Noncontrolling interest	5.7		7.2
Total equity	543.0		541.1
Total liabilities and equity	$ 1,535.2		$ 1,538.0

[1] 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.

[2] On January 31, 2020, the Company issued $100.0 million of 5.9 percent Senior Notes with repayments ending in fiscal 2029.  The Company used the proceeds to prepay the $73.0 million principal balance of the 6.8 percent Senior Notes, which were scheduled to mature in August 2020, and to repay $27.0 million of borrowings on its revolving credit facility.  Since it had both the intent and ability to refinance these obligations on a long-term basis, the Company classified the $73.0 million of 6.8 percent Senior Notes and $27.0 million of its revolving credit facility borrowings within long-term debt on its consolidated balance sheet as of December 31, 2019.