XML 50 R30.htm IDEA: XBRL DOCUMENT v2.4.0.8
Quarterly Financial Data (Unaudited)
 12 Months Ended
Mar. 31, 2014
Quarterly Financial Data (Unaudited) [Abstract]  
Quarterly Financial Data (Unaudited)
Note 22:  Quarterly Financial Data (Unaudited)

Quarterly financial data is summarized below for the years ended March 31, 2014 and 2013:

 
 
Fiscal 2014 quarters ended
  
 
 
 
June
  
Sept.
  
Dec.
  
March
  
Fiscal 2014
 
 
 
  
  
  
  
 
Net sales
 
$
375.8
  
$
364.2
  
$
347.0
  
$
390.6
  
$
1,477.6
 
Gross profit
  
61.9
   
57.2
   
56.8
   
62.3
   
238.2
 
Earnings (loss) from continuing operations (a)(b)
  
10.6
   
5.0
   
(3.4
)
  
119.7
   
131.9
 
Net earnings (loss) attributable to Modine (a)(b)
  
10.0
   
4.6
   
(3.6
)
  
119.4
   
130.4
 
Net earnings (loss) per share attributable to Modine shareholders:
                    
Basic
 
$
0.21
  
$
0.10
  
$
(0.08
)
 
$
2.51
  
$
2.75
 
Diluted
  
0.21
   
0.10
   
(0.08
)
  
2.49
   
2.72
 
 
                    
 
 
Fiscal 2013 quarters ended
     
 
 
June
  
Sept.
  
Dec.
  
March
  
Fiscal 2013
 
 
                    
Net sales
 
$
350.4
  
$
339.9
  
$
326.1
  
$
359.6
  
$
1,376.0
 
Gross profit
  
51.7
   
52.6
   
48.2
   
56.1
   
208.6
 
Loss from continuing operations (a)
  
(1.0
)
  
(11.8
)
  
(8.4
)
  
(1.6
)
  
(22.8
)
Net loss attributable to Modine (a)
  
(1.2
)
  
(12.2
)
  
(8.7
)
  
(2.1
)
  
(24.2
)
Net loss per share attributable to Modine shareholders:
                    
Basic
 
$
(0.03
)
 
$
(0.26
)
 
$
(0.19
)
 
$
(0.04
)
 
$
(0.52
)
Diluted
  
(0.03
)
  
(0.26
)
  
(0.19
)
  
(0.04
)
  
(0.52
)

(a)The quarterly financial data presented above includes restructuring expenses and impairment charges, primarily related to our Europe restructuring program and certain restructuring actions in the U.S.  During fiscal 2014, restructuring expenses totaled $0.5 million, $0.6 million, $9.4 million, and $5.6 million for the quarters ended June 30, 2013, September 30, 2013, December 31, 2013, and March 31, 2014, respectively. The Company recorded impairment charges of $2.0 million and $1.2 million during the quarters ended December 31, 2013 and March 31, 2014, respectively.  During fiscal 2013, restructuring expenses totaled $4.6 million, $1.3 million, $1.4 million, and $9.7 million for the quarters ended June 30, 2012, September 30, 2012, December 31, 2012, and March 31, 2013, respectively.  The Company recorded impairment charges of $16.7 million, $8.3 million, and $0.9 million during the quarters ended September 30, 2012, December 31, 2012, and March 31, 2013, respectively.  See Note 6 for additional information.
(b)The quarter ended March 31, 2014 was benefited by the reversal of U.S. income tax valuation allowances totaling $119.2 million.  See Note 8 for additional information.