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Significant Accounting Policies (Tables)
 12 Months Ended
Mar. 31, 2020
Accounting Policies [Abstract]  
Schedule of Product Warranty Liability The following table presents changes in the Company’s product warranty liability during each of the periods presented (in millions):
Year Ended March 31, 2020Year Ended March 31, 2019Year Ended March 31, 2018
Balance at beginning of period$7.2  $7.7  $6.2  
Acquired obligations—  —  1.4  
Charged to operations1.7  1.9  4.1  
Claims settled(2.2) (2.4) (4.0) 
Balance at end of period$6.7  $7.2  $7.7  
Schedule of Earnings Per Share, Basic and Diluted The following table presents the basis for income per share computations (in millions, except share amounts, which are in thousands):
Years Ended
March 31, 2020March 31, 2019March 31, 2018
Basic net income per share attributable to Rexnord common stockholders
Numerator:
Net income from continuing operations$182.2  $189.0  $206.6  
Less: Non-controlling interest income0.3  —  0.1  
Less: Dividends on preferred stock14.4  23.2  23.2  
Net income from continuing operations attributable to Rexnord common stockholders$167.5  $165.8  $183.3  
Loss from discontinued operations, net of tax$(1.8) $(154.7) $(130.6) 
Net income attributable to Rexnord common stockholders$165.7  $11.1  $52.7  
Denominator:
Weighted-average common shares outstanding, basic111,689  104,640  103,889  
Diluted net income per share attributable to Rexnord common stockholders
Numerator:
Net income from continuing operations$182.2  $189.0  $206.6  
Less: Non-controlling interest income0.3  —  0.1  
Less: Dividends on preferred stock (1)—  —  —  
Net income from continuing operations attributable to Rexnord common stockholders$181.9  $189.0  $206.5  
Loss from discontinued operations, net of tax$(1.8) $(154.7) $(130.6) 
Net income attributable to Rexnord common stockholders165.7  11.1  52.7  
Plus: Dividends on preferred stock (1)14.4  23.2  23.2  
Net income attributable to Rexnord common stockholders$180.1  $34.3  $75.9  
Denominator:
Weighted-average common shares outstanding, basic111,689  104,640  103,889  
Effect of dilutive equity awards2,576  2,710  2,110  
Preferred stock under the "if-converted" method (2)9,998  15,979  15,985  
Weighted-average common shares outstanding, diluted124,263  123,329  121,984  
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(1)  The "if-converted" method was dilutive for the fiscal years ended March 31, 2020, 2019 and 2018.
(2) During the third quarter of fiscal 2020, the Company issued 16.0 million shares of common stock upon the mandatory conversion of Series A Preferred Stock; see Note 19, Common Stock Purchases and Public Offerings for additional information.
Schedule of Accumulated Other Comprehensive Loss The changes in accumulated other comprehensive loss, net of tax, for the fiscal years ending March 31, 2020, 2019 and 2018 are as follows (in millions):
Interest Rate DerivativesForeign Currency TranslationPension and Postretirement PlansTotal
Balance at March 31, 2017$(9.5) $(99.3) $(28.2) $(137.0) 
Other comprehensive income before reclassifications—  57.1  1.4  58.5  
Amounts reclassified from accumulated other comprehensive income (loss)5.8  —  (1.4) 4.4  
Net current period other comprehensive income5.8  57.1  —  62.9  
Balance at March 31, 2018$(3.7) $(42.2) $(28.2) $(74.1) 
Other comprehensive loss before reclassifications—  (39.4) (8.5) (47.9) 
Amounts reclassified from accumulated other comprehensive income (loss)4.5  21.5  (0.6) 25.4  
Net current period other comprehensive income (loss)4.5  (17.9) (9.1) (22.5) 
Balance at March 31, 2019$0.8  $(60.1) $(37.3) $(96.6) 
Other comprehensive loss before reclassifications$—  $(24.5) $(3.6) (28.1) 
Amounts reclassified from accumulated other comprehensive income (loss)—  —  0.3  0.3  
Net current period other comprehensive loss —  (24.5) (3.3) (27.8) 
Balance at March 31, 2020$0.8  $(84.6) $(40.6) $(124.4) 
Reclassification out of Accumulated Other Comprehensive Loss The following table summarizes the amounts reclassified from accumulated other comprehensive loss to net income during the fiscal years ending March 31, 2020, 2019 and 2018 (in millions):
Pension and postretirement plansYear Ending March 31, 2020Year Ending March 31, 2019Year Ending March 31, 2018Income Statement Line Item
Amortization of prior service credit$(0.3) $(1.5) $(1.9) Other (expense) income, net 
Lump sum settlement0.8  0.6  —  Actuarial (loss) gain on pension and postretirement benefit obligations 
Curtailment—  —  (0.3) Actuarial (loss) gain on pension and postretirement benefit obligations 
Provision for income taxes(0.2) 0.3  0.8  
Total, net of income taxes$0.3  $(0.6) $(1.4) 
Interest rate derivatives
   Net realized losses on interest rate derivatives$—  $5.7  $9.7   Interest expense, net  
   Benefit for income taxes—  (1.2) (3.9) 
Total, net of income taxes$—  $4.5  $5.8  
Foreign Currency Translation
Reclassification on sale of business$—  $19.7  $—  Loss from discontinued operations, net of tax  
Reclassification on acquisition of equity method investment—  1.8  —  Other (expense) income, net 
Total$—  $21.5  $—  
Research, Development and Engineering Costs Research, development and engineering costs are charged to selling, general and administrative expenses on the consolidated statements of operations as incurred and for the years ended March 31, 2020, 2019 and 2018 amounted to the following (in millions):
Year Ended March 31, 2020Year Ended March 31, 2019Year Ended March 31, 2018
Research and development costs$16.2  $16.3  $13.3  
Engineering costs24.3  25.4  22.5  
Total$40.5  $41.7  $35.8