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v3.23.1

Operating Segment Information and Concentrations of Risk (Tables) | 12 Months Ended
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Mar. 31, 2023
Segment Reporting [Abstract] |
Summary of Operating Segments | The following is the Company’s operating segment information:
|  | Net Sales Years Ended 31 March
(Millions of US dollars) |  | 2023 |  | 2022 |  | 2021
North America Fiber Cement |  | $ | 2,787.6 |  |  | $ | 2,551.3 |  |  | $ | 2,040.2 |
Asia Pacific Fiber Cement |  | 539.2 |  |  | 574.9 |  |  | 458.2 |
Europe Building Products |  | 450.3 |  |  | 488.5 |  |  | 410.3 |
Worldwide total |  | $ | 3,777.1 |  |  | $ | 3,614.7 |  |  | $ | 2,908.7 |
|  | Operating Income Years Ended 31 March
(Millions of US dollars) |  | 2023 |  | 2022 |  | 2021
North America Fiber Cement |  | $ | 767.5 |  |  | $ | 741.2 |  |  | $ | 585.5 |
Asia Pacific Fiber Cement |  | 142.8 |  |  | 160.8 |  |  | 124.8 |
Europe Building Products |  | 26.5 |  |  | 62.9 |  |  | 37.6 |
Research and Development |  | (33.3) |  |  | (34.4) |  |  | (28.9) |
Segments total |  | 903.5 |  |  | 930.5 |  |  | 719.0 |
General Corporate |  | (162.1) |  |  | (247.9) |  |  | (246.2) |
Total operating income |  | 741.4 |  |  | 682.6 |  |  | 472.8 |
|  | Depreciation and Amortization Years ended 31 March
(Millions of US dollars) |  | 2023 |  | 2022 |  | 2021
North America Fiber Cement |  | $ | 126.1 |  |  | $ | 114.4 |  |  | $ | 89.1 |
Asia Pacific Fiber Cement |  | 14.7 |  |  | 13.6 |  |  | 13.9 |
Europe Building Products |  | 28.0 |  |  | 29.8 |  |  | 28.0 |
General Corporate |  | 1.8 |  |  | 2.8 |  |  | 2.8 |
Research and Development |  | 2.0 |  |  | 1.2 |  |  | 1.2 |
Total |  | $ | 172.6 |  |  | $ | 161.8 |  |  | $ | 135.0 |
|  | Total Identifiable Assets 31 March
(Millions of US dollars) |  | 2023 |  | 2022
North America Fiber Cement |  | $ | 1,672.9 |  |  | $ | 1,434.8 |
Asia Pacific Fiber Cement |  | 509.7 |  |  | 429.1 |
Europe Building Products |  | 781.5 |  |  | 745.2 |
Research and Development |  | 15.6 |  |  | 13.5 |
Segments total |  | 2,979.7 |  |  | 2,622.6 |
General Corporate 1 |  | 1,499.4 |  |  | 1,620.6 |
Worldwide total |  | $ | 4,479.1 |  |  | $ | 4,243.2 |
Summary of Geographical Information | The following is the Company’s geographical information:
|  | Net Sales Years Ended 31 March
(Millions of US dollars) |  | 2023 |  | 2022 |  | 2021
North America 2 |  | $ | 2,787.6 |  |  | $ | 2,551.3 |  |  | $ | 2,040.2 |
Australia |  | 380.9 |  |  | 391.7 |  |  | 321.9 |
Germany |  | 137.8 |  |  | 165.0 |  |  | 143.0 |
New Zealand |  | 88.1 |  |  | 115.9 |  |  | 81.9 |
Other Countries 3 |  | 382.7 |  |  | 390.8 |  |  | 321.7 |
Worldwide total |  | $ | 3,777.1 |  |  | $ | 3,614.7 |  |  | $ | 2,908.7 |
|  |  |  | Total Identifiable Assets 31 March
(Millions of US dollars) |  |  |  | 2023 |  | 2022
North America 2 |  |  |  | $ | 1,679.8 |  |  | $ | 1,442.7 |
Australia |  |  |  | 398.8 |  |  | 314.4 |
Germany |  |  |  | 490.9 |  |  | 503.7 |
New Zealand |  |  |  | 41.2 |  |  | 48.9 |
Other Countries 3 |  |  |  | 369.0 |  |  | 312.9 |
Segments total |  |  |  | 2,979.7 |  |  | 2,622.6 |
General Corporate 1 |  |  |  | 1,499.4 |  |  | 1,620.6 |
Worldwide total |  |  |  | $ | 4,479.1 |  |  | $ | 4,243.2 |
____________ 1 Included in General Corporate are deferred tax assets for each operating segment that are not held directly accountable for deferred income taxes and Asbestos-related assets. 2 The amounts disclosed for North America are substantially all related to the USA. 3 Included are all other countries that account for less than 5% of net sales and total identifiable assets individually, primarily in the Philippines, Spain and other European countries. Research and development expenditures are expensed as incurred and are summarized by segment in the following table. Research and development segment operating income also includes Selling, general and administrative expenses of US$2.2 million, US$4.1 million and US$2.9 million in fiscal years 2023, 2022 and 2021, respectively.
|  | Years Ended 31 March
(Millions of US dollars) |  | 2023 |  | 2022 |  | 2021
North America Fiber Cement |  | $ | 5.5 |  |  | $ | 5.3 |  |  | $ | 5.6 |
Asia Pacific Fiber Cement |  | 1.3 |  |  | 1.5 |  |  | 1.1 |
Europe Building Products |  | 1.7 |  |  | 0.9 |  |  | 1.6 |
Research and Development |  | 31.1 |  |  | 30.3 |  |  | 26.0 |
|  | $ | 39.6 |  |  | $ | 38.0 |  |  | $ | 34.3 |
Summary of Gross Sales by Major Customers | The following represents net sales generated by this customer, which is from the North America Fiber Cement segment:
|  | Years Ended 31 March
(Millions of US dollars) |  | 2023 |  | 2022 |  | 2021
Customer A |  | $ | 450.1 |  |  | 12.0 | % |  | $ | 418.3 |  |  | 12.0 | % |  | $ | 347.3 |  |  | 12.0 | %

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