CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Dec. 31, 2025	Mar. 31, 2025
ASSETS
Cash and cash equivalents	$ 98.7	$ 71.6
Trade accounts receivable - net	569.1	478.9
Inventories	542.9	340.9
Other current assets	93.0	69.8
Total current assets	1,303.7	961.2
Property, plant and equipment - net	479.6	390.5
Intangible assets - net	203.4	146.7
Goodwill	293.4	233.9
Deferred income taxes	43.6	67.0
Other noncurrent assets	159.2	118.3
Total assets	2,482.9	1,917.6
LIABILITIES AND SHAREHOLDERS' EQUITY
Short-term debt	1.2	9.3
Long-term debt - current portion	43.9	44.8
Accounts payable	390.3	290.8
Accrued compensation and employee benefits	86.5	102.7
Other current liabilities	74.3	93.4
Total current liabilities	596.2	541.0
Long-term debt	570.7	296.7
Deferred income taxes	23.3	24.1
Pensions	11.8	29.4
Other noncurrent liabilities	151.1	108.2
Total liabilities	1,353.1	999.4
Commitments and contingencies (see Note 18)
Shareholders' equity:
Preferred stock, $0.025 par value, authorized 16.0 million shares, issued - none	0.0	0.0
Common stock, $0.625 par value, authorized 80.0 million shares, issued 56.9 million and 56.5 million shares	35.5	35.3
Additional paid-in capital	327.1	310.8
Retained earnings	891.2	843.0
Accumulated other comprehensive loss	(27.6)	(181.3)
Treasury stock, at cost, 4.1 million shares	(104.4)	(97.6)
Total Modine shareholders' equity	1,121.8	910.2
Noncontrolling interest	8.0	8.0
Total equity	1,129.8	918.2
Total liabilities and equity	$ 2,482.9	$ 1,917.6