Segment and Geographic Information (Tables)

12 Months Ended

Mar. 31, 2019

Segment and Geographic Information [Abstract]

Net sales, Gross profit, Operating Income and Total Assets by Segment

The following is a summary of net sales, gross profit, and operating income by segment:

	Year ended March 31, 2019
	External Sales		Inter-segment Sales			Total
Net sales:
VTS	$	1,298.9	$	52.8		$	1,351.7
CIS		704.7		2.9			707.6
BHVAC		209.1		3.3			212.4
Segment total		2,212.7		59.0			2,271.7
Corporate and eliminations		-		(59.0	)		(59.0	)
Net sales	$	2,212.7	$	-		$	2,212.7
	Year ended March 31, 2018
	External Sales		Inter-segment Sales			Total
Net sales:
VTS	$	1,239.3	$	56.4		$	1,295.7
CIS		674.4		1.3			675.7
BHVAC		189.4		1.8			191.2
Segment total		2,103.1		59.5			2,162.6
Corporate and eliminations		-		(59.5	)		(59.5	)
Net sales	$	2,103.1	$	-		$	2,103.1
	Year ended March 31, 2017
	External Sales		Inter-segment Sales			Total
Net sales:
VTS	$	1,099.9	$	52.3		$	1,152.2
CIS		231.5		0.3			231.8
BHVAC		171.6		-			171.6
Segment total		1,503.0		52.6			1,555.6
Corporate and eliminations		-		(52.6	)		(52.6	)
Net sales	$	1,503.0	$	-		$	1,503.0

Inter-segment sales are accounted for based upon an established markup over production costs.  Net sales for Corporate and eliminations primarily represent the elimination of inter-segment sales.

	Years ended March 31,
	2019					2018						2017
Gross profit:	$’s		% of sales			$’s			% of sales			$’s			% of sales
VTS	$	186.9		13.8	%	$	201.0			15.5	%	$	182.0			15.8	%
CIS		114.9		16.2	%		97.8			14.5	%		32.2			13.9	%
BHVAC		63.4		29.9	%		58.0			30.3	%		47.8			27.8	%
Segment total		365.2		16.1	%		356.8			16.5	%		262.0			16.8	%
Corporate and eliminations (a)		0.3		-			(0.3	)		-			(7.6	)		-
Gross profit	$	365.5		16.5	%	$	356.5			17.0	%	$	254.4			16.9	%

	Years ended March 31,
Operating income:	2019			2018			2017
VTS	$	64.8		$	84.2		$	68.4
CIS		53.4			28.5			10.9
BHVAC		26.9			20.3			13.2
Segment total		145.1			133.0			92.5
Corporate and eliminations (a)		(35.4	)		(40.8	)		(50.2	)
Operating income	$	109.7		$	92.2		$	42.3

(a) During fiscal 2018 and 2017, the Company recorded $4.3 million and $14.8 million, respectively, of costs incurred directly related to the acquisition and integration of Luvata HTS within SG&A expenses at Corporate.  During fiscal 2017, the Company recorded $4.3 million in cost of sales related to an inventory purchase accounting adjustment at Corporate, as the impact was excluded from the Company’s measure of segment operating performance.  In addition, the operating loss for Corporate includes certain research and development costs, legal, finance and other general corporate and central services expenses, and other costs that are either not directly attributable to an operating segment or not considered when management evaluates segment performance.

The following is a summary of total assets by segment:

	March 31,
	2019		2018
VTS	$	749.9	$	754.8
CIS		604.2		630.2
BHVAC		89.4		88.1
Corporate and eliminations		94.5		100.3
Total assets	$	1,538.0	$	1,573.4

Summary of Capital Expenditures and Depreciation and Amortization Expense by Segment

The following is a summary of capital expenditures and depreciation and amortization expense by segment:

	Years ended March 31,
Capital expenditures:	2019		2018		2017
VTS	$	56.2	$	61.4	$	59.5
CIS		16.4		9.0		3.4
BHVAC		1.3		0.6		1.5
Total capital expenditures	$	73.9	$	71.0	$	64.4

	Years ended March 31,
Depreciation and amortization expense:	2019		2018		2017
VTS	$	49.5	$	48.2	$	46.2
CIS		23.9		24.3		7.9
BHVAC		3.5		4.2		4.2
Total depreciation and amortization expense	$	76.9	$	76.7	$	58.3

Summary of Net Sales and Long-lived Assets by Geographical Area

The following is a summary of net sales by geographical area, based upon the location of the selling unit:

	Years ended March 31,
	2019		2018		2017
United States	$	1,032.3	$	911.4	$	657.8
Italy		217.3		211.5		94.4
China		172.1		156.0		73.7
Hungary		165.6		153.9		145.6
Germany		123.1		132.6		130.1
Austria		116.2		151.7		125.2
Other		386.1		386.0		276.2
Net sales	$	2,212.7	$	2,103.1	$	1,503.0

Summary of Property, Plant and Equipment by Geographical Area

The following is a summary of property, plant and equipment by geographical area:

	March 31,
	2019		2018
United States	$	117.7	$	121.5
China		57.6		49.6
Mexico		56.3		49.4
Hungary		55.3		59.3
Italy		52.4		62.0
Austria		36.9		42.8
Germany		32.8		37.2
Other		75.7		82.5
Total property, plant and equipment	$	484.7	$	504.3

Summary of Net Sales by end Market

The following is a summary of net sales by end market:

	Years ended March 31,
	2019		2018		2017
Commercial HVAC&R	$	674.0	$	648.3	$	323.8
Automotive		542.8		526.0		461.0
Commercial vehicle		387.6		381.7		382.5
Off-highway		314.1		271.2		202.8
Data center cooling		187.0		137.6		57.1
Industrial cooling		47.8		67.6		18.6
Other		59.4		70.7		57.2
Net sales	$	2,212.7	$	2,103.1	$	1,503.0