Segment and Geographic Information (Tables)

12 Months Ended

Mar. 31, 2024

Segment and Geographic Information [Abstract]

Net Sales, Gross Profit, Operating Income and Assets by Segment

The following is a summary of net sales, gross profit, and operating income by segment. See Note 3 for additional information regarding net sales by product groups within each segment.

	Year ended March 31, 2024
	External Sales		Inter-segment Sales			Total
Net sales:
Climate Solutions	$	1,054.6	$	-		$	1,054.6
Performance Technologies		1,353.2		24.8			1,378.0
Segment total		2,407.8		24.8			2,432.6
Corporate and eliminations		-		(24.8	)		(24.8	)
Net sales	$	2,407.8	$	-		$	2,407.8

	Year ended March 31, 2023
	External Sales		Inter-segment Sales			Total
Net sales:
Climate Solutions	$	1,011.5	$	0.4		$	1,011.9
Performance Technologies		1,286.4		29.8			1,316.2
Segment total		2,297.9		30.2			2,328.1
Corporate and eliminations		-		(30.2	)		(30.2	)
Net sales	$	2,297.9	$	-		$	2,297.9

	Year ended March 31, 2022
	External Sales		Inter-segment Sales			Total
Net sales:
Climate Solutions	$	910.1	$	0.4		$	910.5
Performance Technologies		1,140.0		32.4			1,172.4
Segment total		2,050.1		32.8			2,082.9
Corporate and eliminations		-		(32.8	)		(32.8	)
Net sales	$	2,050.1	$	-		$	2,050.1

Inter-segment sales are accounted for based upon an established markup over production costs.  Net sales for Corporate and eliminations primarily represent the elimination of inter-segment sales.

	Years ended March 31,
	2024							2023							2022
Gross profit:	_$’s				% of sales			_$’s				% of sales			$’s			% of sales
Climate Solutions		$	275.4			26.1	%		$	223.6			22.1	%		$	166.3		18.3	%
Performance Technologies			251.1			18.2	%			166.1			12.6	%			142.2		12.1	%
Segment total			526.5			21.6	%			389.7			16.7	%			308.5		14.8	%
Corporate and eliminations			(0.9	)		-				(0.3	)		-				0.8		-
Gross profit		$	525.6			21.8	%		$	389.4			16.9	%		$	309.3		15.1	%

	Years ended March 31,
Operating income:	2024			2023			2022
Climate Solutions	$	166.9		$	124.1		$	73.4
Performance Technologies		123.4			65.6			77.4
Segment total		290.3			189.7			150.8
Corporate and eliminations (a)		(49.6	)		(39.3	)		(31.6	)
Operating income	$	240.7		$	150.4		$	119.2

(a) The operating loss for Corporate includes certain research and development costs, legal, finance and other general corporate and central services expenses, and other costs that are either not directly attributable to an operating segment or not considered when management evaluates segment performance.

The following is a summary of segment assets, comprised entirely of trade accounts receivable and inventories, and other assets:

	March 31,
Assets:	2024		2023
Climate Solutions	$	400.6	$	334.8
Performance Technologies		380.2		388.1
Other (a)		1,070.7		843.0
Total assets	$	1,851.5	$	1,565.9

(a) Represents cash and cash equivalents, other current assets, property plant and equipment, intangible assets, goodwill, deferred income taxes, and other noncurrent assets for the Climate Solutions and Performance Technologies segments and Corporate.

Capital Expenditures and Depreciation and Amortization Expense by Segment

The following is a summary of capital expenditures and depreciation and amortization expense by segment:

	Years ended March 31,
Capital expenditures:	2024		2023		2022
Climate Solutions (a)	$	50.6	$	24.2	$	9.9
Performance Technologies		36.4		25.2		29.2
Corporate		0.7		1.3		1.2
Total capital expenditures	$	87.7	$	50.7	$	40.3

(a) In March 2024, the Company purchased a manufacturing site in the U.K. for $13.4 million in order to expand its  production capacity for data center cooling products.

	Years ended March 31,
Depreciation and amortization expense:	2024		2023		2022
Climate Solutions	$	23.5	$	21.7	$	23.6
Performance Technologies		31.7		31.8		29.9
Corporate		0.9		1.0		1.3
Total depreciation and amortization expense	$	56.1	$	54.5	$	54.8

Net Sales by Geographic Area

The following is a summary of net sales by geographic area, based upon the location of the selling unit:

	Years ended March 31,
	2024		2023		2022
United States	$	1,233.7	$	1,139.3	$	949.6
Italy		242.4		249.5		232.0
Hungary		224.7		210.7		185.2
China		144.2		151.6		166.0
United Kingdom		135.8		93.6		118.6
Other		427.0		453.2		398.7
Net sales	$	2,407.8	$	2,297.9	$	2,050.1

Property, Plant and Equipment by Geographic Area

The following is a summary of property, plant and equipment by geographic area:

	March 31,
	2024		2023
United States	$	117.5	$	96.4
Hungary		40.7		40.8
China		39.4		40.2
Mexico		35.2		34.0
Italy		33.8		32.8
Other		99.1		70.3
Total property, plant and equipment	$	365.7	$	314.5