Revenue Recognition (Tables)

9 Months Ended

Dec. 31, 2023

Revenue Recognition [Abstract]

Disaggregation of Revenue

The tables below present revenue for each of the Company’s operating segments.  Each segment’s revenue is disaggregated by product group, by geographic location and based upon the timing of revenue recognition.

Beginning in fiscal 2024 and in connection with the Company’s strategic transformation and continued application of 80/20 principles across its businesses, the Company refined its reporting of disaggregated revenue within the Climate Solutions segment to be more consistent with how the segment has aligned its teams around three market-based verticals: i) heat transfer products; ii) HVAC & refrigeration; and iii) data center cooling.  For the refined fiscal 2024 presentation, the Company reports revenue based upon the respective product lines and related customer relationships managed by each market-based vertical team.  The disaggregated revenue information presented in the tables below for fiscal 2023 has been recast to be comparable with the fiscal 2024 presentation.

	Three months ended December 31, 2023						Three months ended December 31, 2022
	Climate Solutions		Performance Technologies		Segment Total		Climate Solutions		Performance Technologies		Segment Total
Product groups:
Heat transfer	$	90.0	$	-	$	90.0	$	113.7	$	-	$	113.7
HVAC & refrigeration		92.0		-		92.0		89.8		-		89.8
Data center cooling		60.5		-		60.5		45.1		-		45.1
Air-cooled		-		162.0		162.0		-		158.9		158.9
Liquid-cooled		-		112.1		112.1		-		117.3		117.3
Advanced solutions		-		44.8		44.8		-		35.2		35.2
Inter-segment sales		-		4.1		4.1		-		6.4		6.4
Net sales	$	242.5	$	323.0	$	565.5	$	248.6	$	317.8	$	566.4
Geographic location:
Americas	$	145.2	$	184.9	$	330.1	$	148.5	$	167.2	$	315.7
Europe		89.1		89.9		179.0		94.4		97.6		192.0
Asia		8.2		48.2		56.4		5.7		53.0		58.7
Net sales	$	242.5	$	323.0	$	565.5	$	248.6	$	317.8	$	566.4
Timing of revenue recognition:
Products transferred at a point in time	$	233.0	$	309.4	$	542.4	$	233.3	$	301.0	$	534.3
Products transferred over time		9.5		13.6		23.1		15.3		16.8		32.1
Net sales	$	242.5	$	323.0	$	565.5	$	248.6	$	317.8	$	566.4

	Nine months ended December 31, 2023						Nine months ended December 31, 2022
	Climate Solutions		Performance Technologies		Segment Total		Climate Solutions		Performance Technologies		Segment Total
Product groups:
Heat transfer	$	321.7	$	-	$	321.7	$	374.7	$	-	$	374.7
HVAC & refrigeration		260.9		-		260.9		262.0		-		262.0
Data center cooling		207.5		-		207.5		111.9		-		111.9
Air-cooled		-		508.0		508.0		-		481.2		481.2
Liquid-cooled		-		373.2		373.2		-		347.2		347.2
Advanced solutions		-		133.0		133.0		-		102.8		102.8
Inter-segment sales		-		19.4		19.4		0.3		20.9		21.2
Net sales	$	790.1	$	1,033.6	$	1,823.7	$	748.9	$	952.1	$	1,701.0
Geographic location:
Americas	$	450.0	$	559.8	$	1,009.8	$	444.2	$	514.3	$	958.5
Europe		319.4		326.3		645.7		284.3		285.0		569.3
Asia		20.7		147.5		168.2		20.4		152.8		173.2
Net sales	$	790.1	$	1,033.6	$	1,823.7	$	748.9	$	952.1	$	1,701.0
Timing of revenue recognition:
Products transferred at a point in time	$	761.8	$	986.0	$	1,747.8	$	707.1	$	892.6	$	1,599.7
Products transferred over time		28.3		47.6		75.9		41.8		59.5		101.3
Net sales	$	790.1	$	1,033.6	$	1,823.7	$	748.9	$	952.1	$	1,701.0

Contract Assets and Contract Liabilities from Contracts with Customers

Contract assets and contract liabilities from contracts with customers were as follows:

	December 31, 2023		March 31, 2023
Contract assets	$	14.7	$	19.3
Contract liabilities		79.2		21.5