Other Financial Statements Details

9 Months Ended

Dec. 31, 2018

Accounts Receivable, Net [Abstract]

Other Financial Statements Details

Other Financial Statement Details

Accounts Receivable

Accounts receivable consists of the following (in millions):

	December 31, 2018		March 31, 2018
Trade accounts receivable	$	539.3	$	557.8
Other	7.5		8.1
Total accounts receivable, gross	546.8		565.9
Less allowance for doubtful accounts	2.0		2.2
Total accounts receivable, net	$	544.8	$	563.7

Inventories

The components of inventories consist of the following (in millions):

	December 31, 2018		March 31, 2018
Raw materials	$	81.4	$	26.0
Work in process	392.8		311.8
Finished goods	228.3		138.4
Total inventories	$	702.5	$	476.2

Inventories are valued at the lower of cost and net realizable value using the first-in, first-out method. Inventory impairment charges establish a new cost basis for inventory and charges are not subsequently reversed to income even if circumstances later suggest that increased carrying amounts are recoverable.

Property, Plant and Equipment

Property, plant and equipment consists of the following (in millions):

	December 31, 2018		March 31, 2018
Land	$	82.3	$	73.4
Building and building improvements	634.3		508.5
Machinery and equipment	2,197.1		1,943.9
Projects in process	129.0		118.3
Total property, plant and equipment, gross	3,042.7		2,644.1
Less accumulated depreciation and amortization	2,003.0		1,876.2
Total property, plant and equipment, net	$	1,039.7	$	767.9

Depreciation expense attributed to property, plant and equipment was $47.0 million and $132.2 million for the three and nine months ended December 31, 2018, respectively, compared to $32.0 million and $90.9 million for the three and nine months ended December 31, 2017, respectively.