Segment Information

3 Months Ended

Jun. 30, 2021

Segment Information [Abstract]

Segment Information

Note 20: Segment Information

Effective July 1, 2021, the BHVAC segment assumed leadership of the Company’s business operation in Guadalajara, Spain, which was previously managed by and reported within the CIS segment.  This organizational change is integral to the Company’s strategic initiative to align its data center businesses under the BHVAC leadership team in order to accelerate organizational efficiencies and operational improvements.  The Company is focused on expanding its presence in the North American and European data center markets.  Beginning for the second quarter of fiscal 2022, the Company will report the financial results of its business in Spain as part of the BHVAC segment.

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

	Three months ended June 30,
	2021								2020
	External Sales		Inter-segment Sales			Total			External Sales		Inter-segment Sales			Total
Net sales:
BHVAC	$	59.4	$	0.5		$	59.9		$	47.4	$	0.2		$	47.6
CIS		158.2		1.0			159.2			121.3		1.2			122.5
HDE		191.9		9.9			201.8			118.3		5.2			123.5
Automotive		85.1		1.1			86.2			60.8		1.3			62.1
Segment total		494.6		12.5			507.1			347.8		7.9			355.7
Corporate and eliminations		-		(12.5	)		(12.5	)		-		(7.9	)		(7.9	)
Net sales	$	494.6	$	-		$	494.6		$	347.8	$	-		$	347.8

	Three months ended June 30,
	2021					2020
	_$’s		% of sales			_$’s		% of sales
Gross profit:
BHVAC	$	16.2		27.1	%	$	14.5		30.5	%
CIS		20.8		13.0	%		15.5		12.6	%
HDE		22.6		11.2	%		11.3		9.2	%
Automotive		13.2		15.3	%		4.8		7.7	%
Segment total		72.8		14.3	%		46.1		13.0	%
Corporate and eliminations		0.4		-			-		-
Gross profit	$	73.2		14.8	%	$	46.1		13.3	%

	Three months ended June 30,
	2021			2020
Operating income:
BHVAC	$	6.8		$	7.1
CIS		6.4			-
HDE		8.9			(2.5	)
Automotive		4.2			(3.8	)
Segment total		26.3			0.8
Corporate and eliminations		(17.6	)		(4.0	)
Operating income (loss)	$	8.7		$	(3.2	)

	June 30, 2021			March 31, 2021
Total assets:
BHVAC	$	127.6		$	110.8
CIS		633.5			609.2
HDE		443.9			438.7
Automotive		125.7			124.2
Corporate and eliminations (a)		(3.8	)		(6.2	)
Total assets	$	1,326.9		$	1,276.7

(a) At June 30, 2021 and March 31, 2021, Corporate assets totaled $19.2 million and $17.5 million, respectively and were more than offset by eliminations for intercompany balances, including accounts receivable.