Segment and Geographic Information (Tables)

12 Months Ended

Mar. 31, 2020

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, 2020
	External Sales		Inter-segment Sales			Total
Net sales:
VTS	$	1,136.0	$	41.2		$	1,177.2
CIS		620.1		3.8			623.9
BHVAC		219.4		1.7			221.1
Segment total		1,975.5		46.7			2,022.2
Corporate and eliminations		-		(46.7	)		(46.7	)
Net sales	$	1,975.5	$	-		$	1,975.5

	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

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,
	2020						2019					2018
Gross profit:	$'s			% of sales			$'s		% of sales			$'s			% of sales
VTS	$	144.9			12.3	%	$	186.9		13.8	%	$	201.0			15.5	%
CIS		92.9			14.9	%		114.9		16.2	%		97.8			14.5	%
BHVAC		71.5			32.3	%		63.4		29.9	%		58.0			30.3	%
Segment total		309.3			15.3	%		365.2		16.1	%		356.8			16.5	%
Corporate and eliminations		(1.8	)		-			0.3		-			(0.3	)		-
Gross profit	$	307.5			15.6	%	$	365.5		16.5	%	$	356.5			17.0	%

	Years ended March 31,
Operating income:	2020			2019			2018
VTS	$	27.6		$	64.8		$	84.2
CIS		32.9			53.4			28.5
BHVAC		36.4			26.9			20.3
Segment total		96.9			145.1			133.0
Corporate and eliminations (a)		(59.0	)		(35.4	)		(40.8	)
Operating income	$	37.9		$	109.7		$	92.2

(a) 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. During fiscal 2020 and 2019, the Company recorded $39.2 million and $7.1 million, respectively, of costs directly associated with its review of strategic alternatives for the VTS segment’s automotive business, including costs to separate and prepare the business for potential sale.

The following is a summary of total assets by segment:

	March 31,
	2020		2019
VTS	$	683.9	$	749.9
CIS		617.7		604.2
BHVAC		102.3		89.4
Corporate and eliminations		132.2		94.5
Total assets	$	1,536.1	$	1,538.0

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:	2020		2019		2018
VTS	$	53.2	$	56.2	$	61.4
CIS		15.0		16.4		9.0
BHVAC		3.1		1.3		0.6
Total capital expenditures	$	71.3	$	73.9	$	71.0

	Years ended March 31,
Depreciation and amortization expense:	2020		2019		2018
VTS	$	49.7	$	49.5	$	48.2
CIS		24.0		23.9		24.3
BHVAC		3.4		3.5		4.2
Total depreciation and amortization expense	$	77.1	$	76.9	$	76.7

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,
	2020		2019		2018
United States	$	941.9	$	1,032.3	$	911.4
Italy		187.4		217.3		211.5
China		168.5		172.1		156.0
Hungary		142.4		165.6		153.9
Germany		97.5		123.1		132.6
Austria		93.0		116.2		151.7
Other		344.8		386.1		386.0
Net sales	$	1,975.5	$	2,212.7	$	2,103.1

Property, Plant and Equipment by Geographical Area

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

	March 31,
	2020		2019
United States	$	114.6	$	117.7
China		56.8		57.6
Hungary		55.4		55.3
Mexico		50.0		56.3
Italy		49.8		52.4
Germany		27.0		32.8
Austria		26.0		36.9
Other		68.4		75.7
Total property, plant and equipment	$	448.0	$	484.7

Net Sales by End Market

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

	Years ended March 31,
	2020		2019		2018
Commercial HVAC&R	$	639.7	$	674.0	$	648.3
Automotive		508.8		542.8		526.0
Commercial vehicle		323.7		387.6		381.7
Off-highway		253.9		314.1		271.2
Data center cooling		150.2		187.0		137.6
Industrial cooling		43.5		47.8		67.6
Other		55.7		59.4		70.7
Net sales	$	1,975.5	$	2,212.7	$	2,103.1