Segment Information

9 Months Ended

Dec. 31, 2023

Segment Information [Abstract]

Segment Information

Note 20: Segment Information

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

	Three months ended December 31,
	2023								2022
	External Sales		Inter-segment Sales			Total			External Sales		Inter-segment Sales			Total
Net sales:
Climate Solutions	$	242.5	$	-		$	242.5		$	248.6	$	-		$	248.6
Performance Technologies		318.9		4.1			323.0			311.4		6.4			317.8
Segment total		561.4		4.1			565.5			560.0		6.4			566.4
Corporate and eliminations		-		(4.1	)		(4.1	)		-		(6.4	)		(6.4	)
Net sales	$	561.4	$	-		$	561.4		$	560.0	$	-		$	560.0

	Nine months ended December 31,
	2023								2022
	External Sales		Inter-segment Sales			Total			External Sales		Inter-segment Sales			Total
Net sales:
Climate Solutions	$	790.1	$	-		$	790.1		$	748.6	$	0.3		$	748.9
Performance Technologies		1,014.2		19.4			1,033.6			931.2		20.9			952.1
Segment total		1,804.3		19.4			1,823.7			1,679.8		21.2			1,701.0
Corporate and eliminations		-		(19.4	)		(19.4	)		-		(21.2	)		(21.2	)
Net sales	$	1,804.3	$	-		$	1,804.3		$	1,679.8	$	-		$	1,679.8

	Three months ended December 31,									Nine months ended December 31,
	2023				2022					2023				2022
	$’s		% of sales		$’s			% of sales		$’s		% of sales		$’s			% of sales
Gross profit:
Climate Solutions	$	66.1	27.3	%	$	54.8		22.0	%	$	206.9	26.2	%	$	162.5		21.7	%
Performance Technologies		61.0	18.9	%		43.0		13.5	%		182.4	17.6	%		115.2		12.1	%
Segment total		127.1	22.5	%		97.8		17.3	%		389.3	21.3	%		277.7		16.3	%
Corporate and eliminations		0.2	-			(0.2	)	-			1.0	-			(0.5	)	-
Gross profit	$	127.3	22.7	%	$	97.6		17.4	%	$	390.3	21.6	%	$	277.2		16.5	%

	Three months ended December 31,						Nine months ended December 31,
	2023			2022			2023			2022
Operating income:
Climate Solutions	$	38.8		$	30.2		$	127.7		$	89.9
Performance Technologies		31.2			17.4			96.8			41.1
Segment total		70.0			47.6			224.5			131.0
Corporate and eliminations		(8.3	)		(8.1	)		(30.6	)		(29.1	)
Operating income	$	61.7		$	39.5		$	193.9		$	101.9

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

	December 31, 2023		March 31, 2023
Assets:
Climate Solutions	$	348.0	$	334.8
Performance Technologies		357.7		388.1
Other (a)		945.7		843.0
Total assets	$	1,651.4	$	1,565.9

(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.