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Guarantor Subsidiaries
12 Months Ended
Mar. 31, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Guarantor Subsidiaries Guarantor Subsidiaries        The following schedules present condensed consolidating financial information of the Company as of March 31, 2020 and 2019, and for the twelve-month periods ended March 31, 2020, 2019 and 2018, for (a) Rexnord Corporation, the parent company (the "Parent") (b) RBS Global, Inc. and its wholly-owned subsidiary Rexnord LLC, which together are co-issuers (the "Issuers") of the outstanding Notes; (c) on a combined basis, the domestic subsidiaries of the Company, all of which are wholly-owned by the Issuers (collectively, the "Guarantor Subsidiaries") and guarantors of those Notes; and (d) on a combined basis, the foreign subsidiaries of the Company (collectively, the "Non-Guarantor Subsidiaries"). Separate financial statements of the Guarantor Subsidiaries are not presented because their guarantees of the Notes are full, unconditional and joint and several, and the Company believes separate financial statements and other disclosures regarding the Guarantor Subsidiaries are not material to investors.
Condensed Consolidating Balance Sheets
March 31, 2020
(in millions)
ParentIssuersGuarantor SubsidiariesNon-Guarantor SubsidiariesEliminationsConsolidated
Assets
Current assets:
Cash and cash equivalents$11.0  $0.4  $383.9  $178.1  $—  $573.4  
Receivables, net—  —  223.5  111.2  —  334.7  
Inventories—  —  224.8  92.7  —  317.5  
Other current assets—  —  20.5  18.2  —  38.7  
Total current assets11.0  0.4  852.7  400.2  —  1,264.3  
Property, plant and equipment, net—  —  256.1  122.7  —  378.8  
Intangible assets, net—  —  424.8  89.4  —  514.2  
Goodwill—  —  1,043.6  278.3  —  1,321.9  
Investment in:
Issuer subsidiaries1,381.1  —  —  —  (1,381.1) —  
Guarantor subsidiaries—  3,324.9  —  —  (3,324.9) —  
Non-guarantor subsidiaries—  —  621.1  —  (621.1) —  
Other assets—  —  88.7  59.2  —  147.9  
Total assets$1,392.1  $3,325.3  $3,287.0  $949.8  $(5,327.1) $3,627.1  
Liabilities and stockholders' equity
Current liabilities:
Current maturities of debt$—  $—  $75.4  $1.0  $—  $76.4  
Trade payables—  —  123.9  61.7  —  185.6  
Compensation and benefits—  —  42.4  19.4  —  61.8  
Current portion of pension and postretirement benefit obligations—  —  1.8  1.4  —  3.2  
Other current liabilities—  7.9  79.9  40.7  —  128.5  
Total current liabilities—  7.9  323.4  124.2  —  455.5  
Long-term debt—  1,290.9  101.8  4.3  —  1,397.0  
Note payable to (receivable from) affiliates, net77.9  645.4  (795.9) 72.6  —  —  
Pension and postretirement benefit obligations—  —  142.8  46.8  —  189.6  
Deferred income taxes—  —  98.6  22.4  —  121.0  
Other liabilities0.5  —  91.4  58.4  —  150.3  
Total liabilities78.4  1,944.2  (37.9) 328.7  —  2,313.4  
Total stockholders' equity1,313.7  1,381.1  3,324.9  621.1  (5,327.1) 1,313.7  
Total liabilities and stockholders' equity$1,392.1  $3,325.3  $3,287.0  $949.8  $(5,327.1) $3,627.1  
Condensed Consolidating Balance Sheets
March 31, 2019
(in millions)
ParentIssuersGuarantor SubsidiariesNon-Guarantor SubsidiariesEliminationsConsolidated
Assets
Current assets:
Cash and cash equivalents$1.4  $0.2  $107.7  $183.2  $—  $292.5  
Receivables, net—  —  219.6  114.7  —  334.3  
Inventories—  —  214.3  102.2  —  316.5  
Other current assets—  —  13.0  26.6  —  39.6  
Total current assets1.4  0.2  554.6  426.7  —  982.9  
Property, plant and equipment, net—  —  251.2  131.8  —  383.0  
Intangible assets, net—  —  411.6  99.9  —  511.5  
Goodwill—  —  1,017.1  282.6  —  1,299.7  
Investment in:
Issuer subsidiaries1,212.1  —  —  —  (1,212.1) —  
Guarantor subsidiaries—  3,146.0  —  —  (3,146.0) —  
Non-guarantor subsidiaries—  —  547.4  —  (547.4) —  
Other assets—  1.1  63.1  18.4  —  82.6  
Total assets$1,213.5  $3,147.3  $2,845.0  $959.4  $(4,905.5) $3,259.7  
Liabilities and stockholders' equity
Current liabilities:
Current maturities of debt$—  $—  $0.1  $1.1  $—  $1.2  
Trade payables—  —  129.7  62.0  —  191.7  
Compensation and benefits—  —  42.4  21.3  —  63.7  
Current portion of pension and postretirement benefit obligations—  —  1.9  1.4  —  3.3  
Other current liabilities3.0  7.5  90.3  36.3  —  137.1  
Total current liabilities3.0  7.5  264.4  122.1  —  397.0  
Long-term debt—  1,213.4  14.4  9.0  —  1,236.8  
Note (receivable from) payable to affiliates, net(20.7) 714.3  (879.0) 185.4  —  —  
Pension and postretirement benefit obligations—  —  112.9  45.1  —  158.0  
Deferred income taxes—  —  98.8  27.1  —  125.9  
Other liabilities0.2  —  87.4  23.4  —  111.0  
Total liabilities(17.5) 1,935.2  (301.1) 412.1  —  2,028.7  
Total stockholders' equity1,231.0  1,212.1  3,146.1  547.3  (4,905.5) 1,231.0  
Total liabilities and stockholders' equity$1,213.5  $3,147.3  $2,845.0  $959.4  $(4,905.5) $3,259.7  
Condensed Consolidating Statements of Operations
For the Year Ended March 31, 2020
(in millions)
ParentIssuersGuarantor SubsidiariesNon-Guarantor SubsidiariesEliminationsConsolidated
Net sales$—  $—  $1,568.4  $661.0  $(161.1) $2,068.3  
Cost of sales—  —  944.7  466.7  (161.1) 1,250.3  
Gross profit—  —  623.7  194.3  —  818.0  
Selling, general and administrative expenses—  —  331.3  101.5  —  432.8  
Restructuring and other similar charges—  —  8.8  6.7  —  15.5  
Amortization of intangible assets—  —  28.1  7.3  —  35.4  
Income from operations—  —  255.5  78.8  —  334.3  
Non-operating (expense) income:
     Interest income (expense), net:
          To third parties—  (56.7) (2.7) 0.8  —  (58.6) 
          To affiliates10.3  41.3  (16.4) (35.2) —  —  
(Loss) gain on the extinguishment of debt—  (2.1) 3.3  (0.2) —  1.0  
Actuarial loss on pension and postretirement benefit obligations—  —  (35.7) (0.9) —  (36.6) 
Other income (expense), net—  0.1  (1.1) (2.8) —  (3.8) 
Income (loss) from continuing operations before income taxes10.3  (17.4) 202.9  40.5  —  236.3  
Provision for income taxes—  (0.5) (38.3) (15.3) —  (54.1) 
Income (loss) before equity in income of subsidiaries10.3  (17.9) 164.6  25.2  —  182.2  
Equity in earnings of subsidiaries170.1  188.0  23.4  —  (381.5) —  
Net income from continuing operations180.4  170.1  188.0  25.2  (381.5) 182.2  
Loss from discontinued operations, net of tax—  —  —  (1.8) —  (1.8) 
Net income180.4  170.1  188.0  23.4  (381.5) 180.4  
Non-controlling interest income—  —  —  0.3  —  0.3  
Net income attributable to Rexnord180.4  170.1  188.0  23.1  (381.5) 180.1  
Dividends on preferred stock(14.4) —  —  —  —  (14.4) 
Net income attributable to Rexnord common stockholders166.0  170.1  188.0  23.1  (381.5) 165.7  
Comprehensive income (loss)$180.4  $167.9  $186.3  $(0.5) $(381.5) $152.6  
Condensed Consolidating Statements of Operations
For the Year Ended March 31, 2019
(in millions)
ParentIssuersGuarantor SubsidiariesNon-Guarantor SubsidiariesEliminationsConsolidated
Net sales$—  $—  $1,565.0  $672.6  $(186.7) $2,050.9  
Cost of sales—  —  977.1  475.7  (186.7) 1,266.1  
Gross profit—  —  587.9  196.9  —  784.8  
Selling, general and administrative expenses—  —  328.8  104.3  —  433.1  
Restructuring and other similar charges—  7.6  4.5  —  12.1  
Amortization of intangible assets—  —  27.5  6.5  —  34.0  
Income from operations—  —  224.0  81.6  —  305.6  
Non-operating (expense) income:
     Interest income (expense), net:
          To third parties—  (68.2) (2.0) 0.3  —  (69.9) 
          To affiliates2.0  61.7  (53.2) (10.5) —  —  
Loss (gain) on the extinguishment of debt—  (0.7) 5.0  —  —  4.3  
Actuarial gain (loss) on pension and postretirement benefit obligations—  —  1.0  (0.6) —  0.4  
Other income (expense), net—  0.3  3.1  (5.0) —  (1.6) 
Income (loss) from continuing operations before income taxes2.0  (6.9) 177.9  65.8  —  238.8  
Provision for income taxes—  —  (44.5) (8.9) —  (53.4) 
Equity method investment income—  —  —  3.6  —  3.6  
Income (loss) before equity in income of subsidiaries2.0  (6.9) 133.4  60.5  —  189.0  
Equity in earnings (loss) of subsidiaries32.3  39.2  (51.9) —  (19.6) —  
Net income from continuing operations34.3  32.3  81.5  60.5  (19.6) 189.0  
Loss from discontinued operations, net of tax—  —  (42.3) (112.4) —  (154.7) 
Net income (loss)34.3  32.3  39.2  (51.9) (19.6) 34.3  
Non-controlling interest income—  —  —  —  —  —  
Net income (loss) attributable to Rexnord34.3  32.3  39.2  (51.9) (19.6) 34.3  
Dividends on preferred stock(23.2) —  —  —  —  (23.2) 
Net income (loss) attributable to Rexnord common stockholders11.1  32.3  39.2  (51.9) (19.6) 11.1  
Comprehensive income (loss)$34.3  $22.5  $34.1  $(59.5) $(19.6) $11.8  
Condensed Consolidating Statements of Operations
For the Year Ended March 31, 2018
(in millions)
ParentIssuersGuarantor SubsidiariesNon-Guarantor SubsidiariesEliminationsConsolidated
Net sales$—  $—  $1,457.3  $566.9  $(172.6) $1,851.6  
Cost of sales—  —  910.3  407.4  (172.6) 1,145.1  
Gross profit—  —  547.0  159.5  —  706.5  
Selling, general and administrative expenses—  —  310.5  83.3  —  393.8  
Restructuring and other similar charges—  —  12.8  1.3  —  14.1  
Amortization of intangible assets—  —  26.6  5.6  —  32.2  
Income from operations—  —  197.1  69.3  —  266.4  
Non-operating (expense) income:
     Interest income (expense), net:
          To third parties—  (75.3) (0.4) 0.6  —  (75.1) 
          To affiliates3.0  27.4  (13.1) (17.3) —  —  
Loss on the extinguishment of debt—  (11.9) —  —  —  (11.9) 
Actuarial gain on pension and postretirement benefit obligations—  —  1.8  1.5  —  3.3  
Other (expense) income, net—  —  (3.1) 7.5  —  4.4  
Income (loss) from continuing operations before income taxes3.0  (59.8) 182.3  61.6  —  187.1  
Benefit (provision) for income taxes—  —  39.7  (20.2) —  19.5  
Income (loss) before equity in income of subsidiaries3.0  (59.8) 222.0  41.4  —  206.6  
Equity in earnings of subsidiaries73.0  132.8  30.7  —  (236.5) —  
Net income from continuing operations76.0  73.0  252.7  41.4  (236.5) 206.6  
Loss from discontinued operations, net of tax—  —  (119.9) (10.7) —  (130.6) 
Net income76.0  73.0  132.8  30.7  (236.5) 76.0  
Non-controlling interest income—  —  —  0.1  —  0.1  
Net income attributable to Rexnord76.0  73.0  132.8  30.6  (236.5) 75.9  
Dividends on preferred stock(23.2) —  —  —  —  (23.2) 
Net income attributable to Rexnord common stockholders52.8  73.0  132.8  30.6  (236.5) 52.7  
Comprehensive income$76.0  $89.2  $135.6  $74.6  $(236.5) $138.9  
Condensed Consolidating Statements of Cash Flows
For the Year Ended March 31, 2020
(in millions)

ParentIssuerGuarantor SubsidiariesNon-Guarantor SubsidiariesEliminationsConsolidated
Operating activities
Cash provided by (used for) operating activities$109.1  $(149.2) $314.0  $24.7  $—  $298.6  
Investing activities
Expenditures for property, plant and equipment—  —  (30.0) (11.4) —  (41.4) 
Acquisitions, net of cash acquired—  —  (84.2) (0.3) —  (84.5) 
Proceeds from dispositions of long-lived assets—  —  2.8  1.3  —  4.1  
Net payments from divestiture of discontinued operations—  —  —  (1.3) —  (1.3) 
Cash used for investing activities—  —  (111.4) (11.7) —  (123.1) 
Financing activities
Proceeds from borrowings of debt—  975.0  75.0  —  —  1,050.0  
Repayments of debt—  (825.7) (1.3) (8.6) —  (835.6) 
Repurchase of common stock(100.7) —  —  —  —  (100.7) 
Payment of common stock dividends(9.8) —  —  —  —  (9.8) 
Payment of preferred stock dividends(17.4) —  —  —  (17.4) 
Proceeds from exercise of stock options36.0  —  —  —  —  36.0  
Taxes withheld and paid on employees' share-based payment awards(7.6) —  —  —  —  (7.6) 
Cash (used for) provided by financing activities(99.5) 149.3  73.7  (8.6) —  114.9  
Effect of exchange rate changes on cash, cash equivalents and restricted cash—  —  —  (9.5) —  (9.5) 
Increase (decrease) in cash, cash equivalents and restricted cash9.6  0.1  276.3  (5.1) —  280.9  
Cash, cash equivalents and restricted cash at beginning of period1.4  0.2  107.7  183.2  —  292.5  
Cash, cash equivalents and restricted cash at end of period$11.0  $0.3  $384.0  $178.1  $—  $573.4  
Condensed Consolidating Statements of Cash Flows
For the Year Ended March 31, 2019
(in millions)
ParentIssuerGuarantor SubsidiariesNon-Guarantor SubsidiariesEliminationsConsolidated
Operating activities
Cash provided by operating activities$19.9  $75.2  $112.9  $50.1  $—  $258.1  
Investing activities
Expenditures for property, plant and equipment—  —  (33.0) (11.9) —  (44.9) 
Acquisitions, net of cash acquired—  —  (2.0) (21.4) —  (23.4) 
Proceeds from dispositions of long-lived assets—  —  4.7  —  —  4.7  
Cash dividend from equity method investment—  —  —  1.3  —  1.3  
Net proceeds from divestiture of discontinued operations—  —  3.0  6.0  —  9.0  
Cash used for investing activities—  —  (27.3) (26.0) —  (53.3) 
Financing activities
Proceeds from borrowings of debt—  —  268.0  2.8  —  270.8  
Repayments of debt—  (75.0) (286.8) (7.2) —  (369.0) 
Payment of preferred stock dividends(23.2) —  —  —  —  (23.2) 
Proceeds from exercise of stock options7.9  —  —  —  —  7.9  
Taxes withheld and paid on employees' share-based payment awards(3.2) —  —  —  —  (3.2) 
Cash used for financing activities(18.5) (75.0) (18.8) (4.4) —  (116.7) 
Effect of exchange rate changes on cash, cash equivalents and restricted cash—  —  —  (13.2) —  (13.2) 
Increase in cash, cash equivalents and restricted cash1.4  0.2  66.8  6.5  —  74.9  
Cash, cash equivalents and restricted cash at beginning of period—  —  40.9  176.7  —  217.6  
Cash, cash equivalents and restricted cash at end of period$1.4  $0.2  $107.7  $183.2  $—  $292.5  
Condensed Consolidating Statements of Cash Flows
For the Year Ended March 31, 2018
(in millions)
ParentIssuerGuarantor SubsidiariesNon-Guarantor SubsidiariesEliminationsConsolidated
Operating activities
Cash provided by (used for) operating activities$12.3  $313.4  $(161.2) $64.0  $—  $228.5  
Investing activities
Expenditures for property, plant and equipment—  —  (28.4) (12.3) —  (40.7) 
Acquisitions, net of cash—  —  (50.0) (123.6) —  (173.6) 
Proceeds from dispositions of long-lived assets—  —  5.3  0.2  —  5.5  
Cash used for investing activities—  —  (73.1) (135.7) —  (208.8) 
Financing activities
Proceeds from borrowings of debt—  1,324.0  205.8  —  —  1,529.8  
Repayments of debt—  (1,626.5) (189.7) —  —  (1,816.2) 
Payment of debt issuance costs—  (11.0) —  —  —  (11.0) 
Payment of preferred stock dividends(23.2) —  —  —  —  (23.2) 
Proceeds from exercise of stock options7.2  —  —  —  —  7.2  
Taxes withheld and paid on employees' share-based payment awards(1.2) —  —  —  —  (1.2) 
Proceeds from financing lease obligations—  —  5.8  —  —  5.8  
Cash (used for) provided by financing activities(17.2) (313.5) 21.9  —  —  (308.8) 
Effect of exchange rate changes on cash, cash equivalents and restricted cash—  —  —  16.6  —  16.6  
(Decrease) increase in cash, cash equivalents and restricted cash(4.9) (0.1) (212.4) (55.1) —  (272.5) 
Cash, cash equivalents and restricted cash at beginning of period4.9  0.1  253.3  231.8  —  490.1  
Cash, cash equivalents and restricted cash at end of period$—  $—  $40.9  $176.7  $—  $217.6