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Segment and Geographic Information (Tables)
 12 Months Ended
Mar. 31, 2022
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.  See Note 3 for additional information regarding net sales by primary end market.

 
Year ended March 31, 2022
  
   
External Sales
    
Inter-segment
Sales
    
Total
  
Net sales:
                  
BHVAC
  
$
334.6
    
$
2.0
    
$
336.6
  
CIS
    
619.5
      
8.0
      
627.5
  
HDE
    
787.9
      
36.6
      
824.5
  
Automotive
    
308.1
      
5.2
      
313.3
  
Segment total
    
2,050.1
      
51.8
      
2,101.9
  
Corporate and eliminations
    
-
      
(51.8
)
    
(51.8
)
Net sales
  
$
2,050.1
    
$
-
    
$
2,050.1
  

 
Year ended March 31, 2021
  
   
External Sales
    
Inter-segment
Sales
    
Total
  
Net sales:
                  
BHVAC
  
$
262.0
    
$
1.2
    
$
263.2
  
CIS
    
506.4
      
6.0
      
512.4
  
HDE
    
648.3
      
33.8
      
682.1
  
Automotive
    
391.7
      
6.6
      
398.3
  
Segment total
    
1,808.4
      
47.6
      
1,856.0
  
Corporate and eliminations
    
-
      
(47.6
)
    
(47.6
)
Net sales
  
$
1,808.4
    
$
-
    
$
1,808.4
  

 
Year ended March 31, 2020
  
   
External Sales
    
Inter-segment
Sales
    
Total
  
Net sales:
                  
BHVAC
  
$
304.4
    
$
2.1
    
$
306.5
  
CIS
    
535.1
      
6.0
      
541.1
  
HDE
    
693.8
      
52.1
      
745.9
  
Automotive
    
442.2
      
2.7
      
444.9
  
Segment total
    
1,975.5
      
62.9
      
2,038.4
  
Corporate and eliminations
    
-
      
(62.9
)
    
(62.9
)
Net sales
  
$
1,975.5
    
$
-
    
$
1,975.5
  

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,
  
   
2022
    
2021
    
2020
  
Gross profit:
  
_$’s
    
% of
sales
    
_$’s
    
% of
sales
    
_$’s
    
% of
sales
  
BHVAC
  
$
93.6
      
27.8
%
  
$
85.3
      
32.4
%
  
$
100.2
      
32.7
%
CIS
    
88.5
      
14.1
%
    
64.2
      
12.5
%
    
64.3
      
11.9
%
HDE
    
87.2
      
10.6
%
    
88.4
      
13.0
%
    
96.6
      
13.0
%
Automotive
    
39.3
      
12.5
%
    
56.0
      
14.1
%
    
48.4
      
10.9
%
Segment total
    
308.6
      
14.7
%
    
293.9
      
15.8
%
    
309.5
      
15.2
%
Corporate and eliminations
    
0.7
      
-
      
(0.5
)
    
-
      
(2.0
)
    
-
  
Gross profit
  
$
309.3
      
15.1
%
  
$
293.4
      
16.2
%
  
$
307.5
      
15.6
%

 
Years ended March 31,
  
Operating income:
  
2022
    
2021
    
2020
  
BHVAC
  
$
45.7
    
$
45.2
    
$
58.2
  
CIS
    
35.3
      
10.2
      
11.1
  
HDE
    
34.6
      
36.8
      
37.8
  
Automotive
    
35.4
      
(150.9
)
    
(10.0
)
Segment total
    
151.0
      
(58.7
)
    
97.1
  
Corporate and eliminations (a)
    
(31.8
)
    
(39.0
)
    
(59.2
)
Operating income (loss)
  
$
119.2
    
$
(97.7
)
  
$
37.9
  
(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 2022, 2021, and 2020, the Company recorded $2.6 million, $6.6 million, and $39.2 million, respectively, of costs directly associated with its review of strategic alternatives for the liquid-and air-cooled automotive businesses, including costs to separate and prepare the underlying businesses for potential sale.

The following is a summary of total assets by segment:

 
March 31,
  
Total assets:  
2022
    
2021
  
BHVAC
  
$
224.3
    
$
181.1
  
CIS
    
536.4
      
540.1
  
HDE
    
488.9
      
438.7
  
Automotive (a)
    
188.6
      
124.2
  
Corporate and eliminations (b)
    
(11.2
)
    
(7.4
)
Total assets
  
$
1,427.0
    
$
1,276.7
  
(a)
During fiscal 2022, the Company recorded net impairment reversals totaling $56.0 million  related to the liquid-cooled automotive business.  See Note 2 for additional information.
(b)
At March 31, 2022 and 2021, Corporate assets totaled $20.8 million and $17.5 million, respectively and were more than offset by eliminations for intercompany balances, including accounts receivable.
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:
  
2022
    
2021
    
2020
  
BHVAC
  
$
6.0
    
$
1.8
    
$
4.5
  
CIS
    
4.9
      
5.8
      
13.6
  
HDE
    
15.4
      
13.5
      
31.5
  
Automotive
    
12.8
      
11.1
      
19.1
  
Corporate
    
1.2
      
0.5
      
2.6
  
Total capital expenditures
  
$
40.3
    
$
32.7
    
$
71.3
  

 
Years ended March 31,
  
Depreciation and amortization expense:
  
2022
    
2021
    
2020
  
BHVAC
  
$
5.9
    
$
5.5
    
$
6.2
  
CIS
    
20.5
      
22.6
      
21.2
  
HDE
    
23.4
      
25.5
      
25.4
  
Automotive (a)
    
3.4
      
13.2
      
22.3
  
Corporate
    
1.6
      
1.8
      
2.0
  
Total depreciation and amortization expense
  
$
54.8
    
$
68.6
    
$
77.1
  
(a)
During fiscal 2021, upon classifying the liquid- and air-cooled automotive businesses as held for sale, the Company ceased depreciating the long-lived assets within the disposal groups.  In fiscal 2022, the Company resumed depreciating the long-lived assets within the liquid-cooled automotive business when it no longer met the requirements to be classified as held for sale.  See Note 2 for additional information.
Net Sales 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,
  
   
2022
    
2021
    
2020
  
United States
  
$
949.6
    
$
765.7
    
$
941.9
  
Italy
    
232.0
      
188.6
      
187.4
  
Hungary
    
185.2
      
153.7
      
142.4
  
China
    
166.0
      
217.6
      
168.5
  
United Kingdom
    
118.6
      
96.4
      
82.0
  
Germany
    
81.2
      
83.4
      
97.5
  
Austria
    
4.8
      
59.6
      
93.0
  
Other
    
312.7
      
243.4
      
262.8
  
Net sales
  
$
2,050.1
    
$
1,808.4
    
$
1,975.5
  
Property, Plant and Equipment by Geographical Area
The following is a summary of property, plant and equipment by geographical area:

 
March 31,
  
   
2022
    
2021
  
United States
  
$
83.6
    
$
80.3
  
China
    
45.6
      
31.3
  
Hungary
    
44.0
      
27.6
  
Mexico
    
38.5
      
43.5
  
Italy
    
33.2
      
30.0
  
Germany
    
12.5
      
1.8
  
Other
    
58.0
      
55.4
  
Total property, plant and equipment (a)
  
$
315.4
    
$
269.9
  
(a)
As of March 31, 2021, the Company had written-down the carrying value of held for sale property, plant and equipment within the liquid-cooled automotive business to zero.  During fiscal 2022, the business no longer met the requirements to be classified as held for sale.  As a result, the Company remeasured its long-lived assets to the lower of carrying value or fair value and recorded net impairment reversals totaling $56.0 million during fiscal 2022.  The assets within the liquid-cooled automotive business are located in Hungary, Germany, China, the U.S., Italy, and the Netherlands.  See Note 2 for additional information.