XML 33 R23.htm IDEA: XBRL DOCUMENT v3.24.0.1
Product Warranties
 9 Months Ended
Dec. 31, 2023
Product Warranties [Abstract]  
Product Warranties
Note 15: Product Warranties

Changes in accrued warranty costs were as follows:

 
Three months ended December 31,
  
   
2023
    
2022
  
Beginning balance
  
$
10.3
    
$
6.2
  
Warranties recorded at time of sale
    
1.6
      
0.9
  
Adjustments to pre-existing warranties
    
(0.4
)
    
(0.3
)
Settlements
    
(1.4
)
    
(1.4
)
Effect of exchange rate changes
    
0.3
      
0.3
  
Ending balance
  
$
10.4
    
$
5.7
  

 
Nine months ended December 31,
  
   
2023
    
2022
  
Beginning balance
  
$
6.9
    
$
6.3
  
Warranties recorded at time of sale
    
4.7
      
4.2
  
Adjustments to pre-existing warranties
    
2.7
      
(0.8
)
Settlements
    
(3.9
)
    
(3.8
)
Disposition of businesses (a)
     (0.2 )     -  
Effect of exchange rate changes
    
0.2
   
(0.2
)
Ending balance
  
$
10.4
    
$
5.7
  
 
(a)  
The Company sold three automotive businesses based in Germany during the third quarter of fiscal 2024. Prior to the sale, the Company reclassified the warranty liability related to these businesses as held for sale on the September 30, 2023 consolidated balance sheet. See Note 2 for additional information regarding the sale.