Cash and cash equivalents

12 Months Ended

Mar. 31, 2012

Cash and cash equivalents [Abstract]

Cash and cash equivalents

Note 8:  Cash and cash equivalents

Under Modine's cash management system, cash balances at certain banks are funded when checks are presented for payment. To the extent that checks issued, but not yet presented for payment, exceed the balance on hand at the specific bank against which they were written, the amount of those un-presented checks is included in accounts payable. These credit balances included in accounts payable were $48 and $0 at March 31, 2012 and 2011, respectively.

All short-term investments at March 31, 2012 and 2011 that had an initial duration of less than three months were recorded as cash equivalents. The recorded amount of these cash equivalents approximated fair value based on the short maturity of these instruments.