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v3.19.1

Summary of Significant Accounting Policies (Tables) | 12 Months Ended
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Mar. 31, 2019
Accounting Policies [Abstract] |
Property, Plant and Equipment Estimated Useful Lives | Depreciation of property, plant and equipment is computed using the straight-line method over the following estimated useful lives:
| Years
Buildings | 10 to 50
Buildings Improvements | 3 to 25
Leasehold Improvements | 5 to 40
Machinery and Equipment | 1 to 30
Basic and Dilutive Common Shares Outstanding Used in Determining Net Income Per Share | Basic and dilutive common shares outstanding used in determining net income per share are as follows:
| Years Ended 31 March
(Millions of shares) | 2019 |  | 2018 |  | 2017
Basic common shares outstanding | 441.9 |  |  | 441.2 |  |  | 442.7 |
Dilutive effect of stock awards | 1.1 |  |  | 1.1 |  |  | 1.2 |
Diluted common shares outstanding | 443.0 |  |  | 442.3 |  |  | 443.9 |
(US dollars) | 2019 |  | 2018 |  | 2017
Net income per share - basic | 0.52 |  |  | 0.33 |  |  | 0.62 |
Net income per share - diluted | 0.52 |  |  | 0.33 |  |  | 0.62 |
Schedule of New Accounting Pronouncements and Changes in Accounting Principles | In accordance with disclosure requirements of this new accounting standard, the impact of adoption on the consolidated statements of cash flows was as follows:
| Year ended 31 March 2018
(Millions of US dollars) | As reported |  | ASU 2016-18 Adjustment |  | As adjusted
Cash and cash equivalents at the beginning of the period | $ | 78.9 |  |  | $ | 113.9 |  |  | $ | 192.8 |
Cash and cash equivalents at the end of the period | 281.6 |  |  | 31.6 |  |  | 313.2 |
Restricted cash - Asbestos | 95.2 |  |  | (95.2 | ) |  | — |
Payment to AICF | (102.2 | ) |  | 102.2 |  |  | — |
Asbestos liability | (104.4 | ) |  | 104.4 |  |  | — |
Asbestos claims paid | — |  |  | (104.4 | ) |  | (104.4 | )
Net cash provided by operating activities | 295.0 |  |  | 7.0 |  |  | 302.0 |
Purchase of investments - Asbestos | — |  |  | (78.4 | ) |  | (78.4 | )
Proceeds from investments - Asbestos | — |  |  | 40.0 |  |  | 40.0 |
Net cash used in investing activities | (200.6 | ) |  | (38.4 | ) |  | (239.0 | )
Repayments of NSW Loan - Asbestos | — |  |  | (51.9 | ) |  | (51.9 | )
Net cash used in financing activities | 112.5 |  |  | (51.9 | ) |  | 60.6 |
Effects of exchange rate changes on cash | (4.2 | ) |  | 1.0 |  |  | (3.2 | )
| Year ended 31 March 2017
(Millions of US dollars) | As reported |  | ASU 2016-18 Adjustment |  | As adjusted
Cash and cash equivalents at the beginning of the period | $ | 107.1 |  |  | $ | 22.0 |  |  | $ | 129.1 |
Cash and cash equivalents at the end of the period | 78.9 |  |  | 113.9 |  |  | 192.8 |
Restricted cash - Asbestos | 0.9 |  |  | (0.9 | ) |  | — |
Payment to AICF | (91.1 | ) |  | 91.1 |  |  | — |
Asbestos liability | (92.0 | ) |  | 92.0 |  |  | — |
Asbestos claims paid | — |  |  | (91.8 | ) |  | (91.8 | )
Net cash provided by operating activities | 292.1 |  |  | 90.4 |  |  | 382.5 |
Proceeds from NSW Loan - Asbestos | — |  |  | 77.0 |  |  | 77.0 |
Repayments of NSW Loan - Asbestos | — |  |  | (74.3 | ) |  | (74.3 | )
Net cash used in financing activities | (212.7 | ) |  | 2.7 |  |  | (210.0 | )
Effects of exchange rate changes on cash | 1.4 |  |  | (1.2 | ) |  | 0.2 |

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