Restructuring Activities (Tables)

9 Months Ended

Dec. 31, 2023

Restructuring Activities [Abstract]

Restructuring and Repositioning Expenses

Restructuring and repositioning expenses were as follows:

	Three months ended December 31,				Nine months ended December 31,
	2023		2022		2023		2022
Employee severance and related benefits	$	0.7	$	-	$	0.8	$	1.4
Other restructuring and repositioning expenses		0.9		0.1		1.3		0.8
Total	$	1.6	$	0.1	$	2.1	$	2.2

Changes in Accrued Severance

The Company accrues severance in accordance with its written plans, procedures, and relevant statutory requirements.  Changes in accrued severance were as follows:

	Three months ended December 31,
	2023			2022
Beginning balance	$	3.2		$	12.9
Additions		0.7			-
Payments		(1.0	)		(1.9	)
Effect of exchange rate changes		0.1			1.2
Ending balance	$	3.0		$	12.2

	Nine months ended December 31,
	2023			2022
Beginning balance	$	10.6		$	20.2
Additions		0.8			1.4
Payments		(5.9	)		(8.6	)
Disposition of businesses (a)		(2.5	)		-
Effect of exchange rate changes		-			(0.8	)
Ending balance	$	3.0		$	12.2

(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 severance 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.