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Segment and Geographic Information (Tables)
 12 Months Ended
Mar. 31, 2023
Segment and Geographic Information [Abstract]  
Net Sales, Gross Profit, Operating Income and 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 product groups within each segment.

 
Year ended March 31, 2023
  
   
External Sales
    
Inter-segment
Sales
    
Total
  
Net sales:
                  
Climate Solutions
  
$
1,011.5
    
$
0.4
    
$
1,011.9
  
Performance Technologies
    
1,286.4
      
29.8
      
1,316.2
  
Segment total
    
2,297.9
      
30.2
      
2,328.1
  
Corporate and eliminations
    
-
      
(30.2
)
    
(30.2
)
Net sales
  
$
2,297.9
    
$
-
    
$
2,297.9
  

 
Year ended March 31, 2022
  
   
External Sales
    
Inter-segment
Sales
    
Total
  
Net sales:
                  
Climate Solutions
   $ 910.1     $ 0.4     $ 910.5  
Performance Technologies
     1,140.0       32.4       1,172.4  
Segment total
    
2,050.1
      
32.8
      
2,082.9
  
Corporate and eliminations
    
-
      
(32.8
)
    
(32.8
)
Net sales
  
$
2,050.1
    
$
-
    
$
2,050.1
  

 
Year ended March 31, 2021
  
   
External Sales
    
Inter-segment
Sales
    
Total
  
Net sales:
                  
Climate Solutions
  
$
731.1
    
$
0.1
    
$
731.2
  
Performance Technologies
     1,077.3       31.5       1,108.8  
Segment total
    
1,808.4
      
31.6
      
1,840.0
  
Corporate and eliminations
    
-
      
(31.6
)
    
(31.6
)
Net sales
  
$
1,808.4
    
$
-
    
$
1,808.4
  

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,
  
   
2023
    
2022
    
2021
  
Gross profit:
  
_$’s
    
% of
sales
    
_$’s
    
% of
sales
    

_$’s
    
% of
sales
  
Climate Solutions
 
$
223.6
      
22.1
%
  
$
166.3
      
18.3
%
  
$
136.6
      
18.7
%
Performance Technologies
   
166.1
      
12.6
%
    
142.2
      
12.1
%
    
157.1
      
14.2
%
Segment total
   
389.7
      
16.7
%
    
308.5
       14.8 %    
293.7
      
16.0
%
Corporate and eliminations
    
(0.3
)
    
-
      
0.8
      
-
      
(0.3
)
    
-
  
Gross profit
  
$
389.4
      
16.9
%
  
$
309.3
      
15.1
%
  
$
293.4
      
16.2
%

 
Years ended March 31,
  
Operating income:
  
2023
    
2022
    
2021
  
Climate Solutions
   $
 124.1     $
 73.4     $
 49.9  
Performance Technologies
     65.6       77.4       (109.1 )
Segment total
     189.7       150.8       (59.2 )
Corporate and eliminations (a)
     (39.3 )     (31.6 )     (38.5 )
Operating income (loss)
   $
150.4
     $
119.2
     $
(97.7
)
(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.

The following is a summary of segment assets, comprised entirely of trade accounts receivable and inventories, and other assets:

 
March 31,
  
Assets:  
2023
    
2022
  
Climate Solutions
  
$
334.8
    
$
291.7
  
Performance Technologies
    
388.1
      
357.0
  
Other (a)
    
843.0

   
778.3

Total assets
  
$
1,565.9
    
$
1,427.0
  
(a)
Represents cash and cash equivalents, other current assets, property plant and equipment, intangible assets, goodwill, deferred income taxes, and other noncurrent assets for the Climate Solutions and Performance Technologies segments and Corporate.
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:
  
2023
    
2022
    
2021
  
Climate Solutions
  
$
24.2
    
$
9.9
    
$
7.2
  
Performance Technologies
    
25.2
      
29.2
      
25.0
  
Corporate
    
1.3
      
1.2
      
0.5
  
Total capital expenditures
  
$
50.7
    
$
40.3
    
$
32.7
  

 
Years ended March 31,
  
Depreciation and amortization expense:
  
2023
    
2022
    
2021
  
Climate Solutions
  
$
21.7
    
$
23.6
    
$
24.9
  
Performance Technologies (a)
    
31.8
      
29.9
      
42.1
  
Corporate
    
1.0
      
1.3
      
1.6
  
Total depreciation and amortization expense
  
$
54.5
    
$
54.8
    
$
68.6
  
(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 Geographic Area
The following is a summary of net sales by geographic area, based upon the location of the selling unit:

 
Years ended March 31,
  
   
2023
    
2022
    
2021
  
United States
  
$
1,139.3
    
$
949.6
    
$
765.7
  
Italy
    
249.5
      
232.0
      
188.6
  
Hungary
    
210.7
      
185.2
      
153.7
  
China
    
151.6
      
166.0
      
217.6
  
Brazil
     103.6       81.2       48.5  
United Kingdom
    
93.6
      
118.6
      
96.4
  
Other
    
349.6
      
317.5
      
337.9
  
Net sales
  
$
2,297.9
    
$
2,050.1
    
$
1,808.4
  
Property, Plant and Equipment by Geographic Area
The following is a summary of property, plant and equipment by geographic area:

 
March 31,
  
   
2023
    
2022
  
United States
  
$
96.4
    
$
83.6
  
Hungary
    40.8       44.0  
China
    
40.2
      
45.6
  
Mexico
    
34.0
      
38.5
  
Italy
    
32.8
      
33.2
  
Other
    
70.3
      
70.5
  
Total property, plant and equipment
  
$
314.5
    
$
315.4