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Segment and Geographic Information (Tables) | 12 Months Ended
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Mar. 31, 2014
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:
|  | Years ended March 31, |
Net sales: |  | 2014 |  |  | 2013 |  |  | 2012 |
North America |  | $ | 568.7 |  |  | $ | 564.5 |  |  | $ | 602.0 |
Europe |  |  | 584.4 |  |  |  | 498.0 |  |  |  | 602.8 |
South America |  |  | 122.7 |  |  |  | 133.8 |  |  |  | 175.6 |
Asia |  |  | 71.5 |  |  |  | 59.5 |  |  |  | 84.1 |
Commercial Products |  |  | 146.5 |  |  |  | 139.3 |  |  |  | 142.2 |
Segment total |  |  | 1,493.8 |  |  |  | 1,395.1 |  |  |  | 1,606.7 |
Corporate and eliminations |  |  | (16.2 | ) |  |  | (19.1 | ) |  |  | (29.5 | )
Net sales |  | $ | 1,477.6 |  |  | $ | 1,376.0 |  |  | $ | 1,577.2 |
|  | Years ended March 31, |
|  | 2014 |  |  | 2013 |  |  | 2012 |
Gross profit: |  | $'s |  |  | % of sales |  |  | $'s |  |  | % of sales |  |  | $'s |  |  | % of sales |
North America |  | $ | 93.5 |  |  |  | 16.4 | % |  | $ | 81.4 |  |  |  | 14.4 | % |  | $ | 89.7 |  |  |  | 14.9 | %
Europe |  |  | 70.8 |  |  |  | 12.1 | % |  |  | 61.0 |  |  |  | 12.3 | % |  |  | 85.1 |  |  |  | 14.1 | %
South America |  |  | 20.8 |  |  |  | 16.9 | % |  |  | 22.5 |  |  |  | 16.8 | % |  |  | 30.9 |  |  |  | 17.6 | %
Asia |  |  | 8.9 |  |  |  | 12.5 | % |  |  | 1.7 |  |  |  | 2.8 | % |  |  | 7.9 |  |  |  | 9.4 | %
Commercial Products |  |  | 43.4 |  |  |  | 29.6 | % |  |  | 40.8 |  |  |  | 29.3 | % |  |  | 42.5 |  |  |  | 29.9 | %
Segment total |  |  | 237.4 |  |  |  | 15.9 | % |  |  | 207.4 |  |  |  | 14.9 | % |  |  | 256.1 |  |  |  | 15.9 | %
Corporate and eliminations |  |  | 0.8 |  |  |  | - |  |  |  | 1.2 |  |  |  | - |  |  |  | 0.5 |  |  |  | - |
Gross profit |  | $ | 238.2 |  |  |  | 16.1 | % |  | $ | 208.6 |  |  |  | 15.2 | % |  | $ | 256.6 |  |  |  | 16.3 | %
|  | Years ended March 31, |
Operating income: |  | 2014 |  |  | 2013 |  |  | 2012 |
North America |  | $ | 42.1 |  |  | $ | 39.2 |  |  | $ | 47.9 |
Europe (a) |  |  | 9.6 |  |  |  | (25.4 | ) |  |  | 26.3 |
South America |  |  | 7.5 |  |  |  | 11.2 |  |  |  | 10.4 |
Asia |  |  | (3.3 | ) |  |  | (8.8 | ) |  |  | (2.5 | )
Commercial Products |  |  | 9.4 |  |  |  | 10.0 |  |  |  | 14.3 |
Segment total |  |  | 65.3 |  |  |  | 26.2 |  |  |  | 96.4 |
Corporate and eliminations (a) |  |  | (28.1 | ) |  |  | (26.8 | ) |  |  | (28.9 | )
Operating income (loss) |  | $ | 37.2 |  |  | $ | (0.6 | ) |  | $ | 67.5 |
| (a) | Segment operating income for fiscal 2013 and 2012 has been recast to conform to the fiscal 2014 presentation. The Company has modified its internal financial reporting of intercompany charges for research and development and intercompany royalties between Corporate and the Europe segment, which totaled $9.3 million and $11.0 million for fiscal years 2013 and 2012, respectively. There was no impact on the total Company consolidated financial results.
Following is a summary of assets by segment:
|  | March 31, |
Total assets: |  | 2014 |  |  | 2013 |
North America |  | $ | 218.1 |  |  | $ | 218.3 |
Europe |  |  | 367.9 |  |  |  | 332.2 |
South America |  |  | 80.1 |  |  |  | 91.8 |
Asia |  |  | 92.8 |  |  |  | 91.3 |
Commercial Products (a) |  |  | 132.7 |  |  |  | 73.7 |
Corporate and eliminations (b) |  |  | 140.7 |  |  |  | 11.5 |
Total assets |  | $ | 1,032.3 |  |  | $ | 818.8 |
| (a) | Total assets within the Commercial Products segment included receivables and cash advances from the Company’s insurance provider and reconstruction costs paid to date related to the Airedale fire, which totaled $45.0 million as of March 31, 2014. See Note 2 for additional information.
| (b) | The increase in total assets within corporate and eliminations was primarily due to a $119.2 million reversal of deferred tax asset valuation allowances in the U.S. as of March 31, 2014. See Note 8 for additional information.
Summary of capital expenditures and depreciation and amortization expense by segment | Following is a summary of capital expenditures and depreciation and amortization expense by segment:
|  | Years ended March 31, |
Capital expenditures: |  | 2014 |  |  | 2013 |  |  | 2012 |
North America |  | $ | 18.9 |  |  | $ | 19.0 |  |  | $ | 15.2 |
Europe |  |  | 22.9 |  |  |  | 16.5 |  |  |  | 29.8 |
South America |  |  | 5.7 |  |  |  | 3.4 |  |  |  | 5.2 |
Asia |  |  | 4.6 |  |  |  | 7.8 |  |  |  | 12.5 |
Commercial Products |  |  | 1.0 |  |  |  | 3.1 |  |  |  | 1.7 |
Total capital expenditures |  | $ | 53.1 |  |  | $ | 49.8 |  |  | $ | 64.4 |
|  | Years ended March 31, |
Depreciation and amortization expense: |  | 2014 |  |  | 2013 |  |  | 2012 |
North America |  | $ | 19.3 |  |  | $ | 20.1 |  |  | $ | 20.0 |
Europe |  |  | 26.6 |  |  |  | 23.4 |  |  |  | 26.5 |
South America |  |  | 3.3 |  |  |  | 3.7 |  |  |  | 4.1 |
Asia |  |  | 6.7 |  |  |  | 6.4 |  |  |  | 5.0 |
Commercial Products |  |  | 2.2 |  |  |  | 2.2 |  |  |  | 2.1 |
Total depreciation and amortization expense |  | $ | 58.1 |  |  | $ | 55.8 |  |  | $ | 57.7 |
Summary of net sales and long-lived assets by geographical area | Following is a summary of capital expenditures and depreciation and amortization expense by segment:
|  | Years ended March 31, |
Capital expenditures: |  | 2014 |  |  | 2013 |  |  | 2012 |
North America |  | $ | 18.9 |  |  | $ | 19.0 |  |  | $ | 15.2 |
Europe |  |  | 22.9 |  |  |  | 16.5 |  |  |  | 29.8 |
South America |  |  | 5.7 |  |  |  | 3.4 |  |  |  | 5.2 |
Asia |  |  | 4.6 |  |  |  | 7.8 |  |  |  | 12.5 |
Commercial Products |  |  | 1.0 |  |  |  | 3.1 |  |  |  | 1.7 |
Total capital expenditures |  | $ | 53.1 |  |  | $ | 49.8 |  |  | $ | 64.4 |
|  | Years ended March 31, |
Depreciation and amortization expense: |  | 2014 |  |  | 2013 |  |  | 2012 |
North America |  | $ | 19.3 |  |  | $ | 20.1 |  |  | $ | 20.0 |
Europe |  |  | 26.6 |  |  |  | 23.4 |  |  |  | 26.5 |
South America |  |  | 3.3 |  |  |  | 3.7 |  |  |  | 4.1 |
Asia |  |  | 6.7 |  |  |  | 6.4 |  |  |  | 5.0 |
Commercial Products |  |  | 2.2 |  |  |  | 2.2 |  |  |  | 2.1 |
Total depreciation and amortization expense |  | $ | 58.1 |  |  | $ | 55.8 |  |  | $ | 57.7 |
Following is a summary of net sales by geographical area, based upon the location of the selling unit:
|  | Years ended March 31, |
Net sales by country: |  | 2014 |  |  | 2013 |  |  | 2012 |
United States |  | $ | 645.7 |  |  | $ | 637.4 |  |  | $ | 666.2 |
Germany |  |  | 229.5 |  |  |  | 214.8 |  |  |  | 285.9 |
Brazil |  |  | 122.0 |  |  |  | 128.8 |  |  |  | 169.1 |
Hungary |  |  | 150.3 |  |  |  | 117.6 |  |  |  | 149.1 |
Other |  |  | 330.1 |  |  |  | 277.4 |  |  |  | 306.9 |
Net sales |  | $ | 1,477.6 |  |  | $ | 1,376.0 |  |  | $ | 1,577.2 |
Following is a summary of long-lived assets, excluding goodwill, intangible assets, and deferred tax assets, by geographical area:
|  | March 31, |
Long-lived assets: |  | 2014 |  |  | 2013 |
United States |  | $ | 112.9 |  |  | $ | 115.1 |
Germany |  |  | 94.6 |  |  |  | 94.3 |
Other |  |  | 186.3 |  |  |  | 173.4 |
Long-lived assets |  | $ | 393.8 |  |  | $ | 382.8 |
Summary of net sales by product type | Following is a summary of net sales by product type:
|  | Years ended March 31, |
Net sales by product type: |  | 2014 |  |  | 2013 |  |  | 2012 |
Modules/assemblies |  | $ | 379.9 |  |  | $ | 358.5 |  |  | $ | 410.4 |
Oil coolers |  |  | 215.4 |  |  |  | 194.1 |  |  |  | 249.4 |
EGR coolers |  |  | 172.5 |  |  |  | 136.1 |  |  |  | 152.7 |
Building HVAC |  |  | 159.5 |  |  |  | 151.8 |  |  |  | 153.3 |
Charge air coolers |  |  | 157.0 |  |  |  | 161.8 |  |  |  | 173.9 |
Condensers |  |  | 129.2 |  |  |  | 128.8 |  |  |  | 101.5 |
Radiators |  |  | 129.0 |  |  |  | 134.4 |  |  |  | 191.4 |
Other |  |  | 135.1 |  |  |  | 110.5 |  |  |  | 144.6 |
Net sales |  | $ | 1,477.6 |  |  | $ | 1,376.0 |  |  | $ | 1,577.2 |

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