XML 61 R59.htm IDEA: XBRL DOCUMENT v2.4.0.8
Earnings Per Share (Details) (USD $)
In Millions, except Per Share data, unless otherwise specified
 3 Months Ended 12 Months Ended
Mar. 31, 2014
Dec. 31, 2013
Sep. 30, 2013
Jun. 30, 2013
Mar. 31, 2013
Dec. 31, 2012
Sep. 30, 2012
Jun. 30, 2012
Mar. 31, 2014
Mar. 31, 2013
Mar. 31, 2012
Basic [Abstract]                      
Earnings (loss) from continuing operations $ 119.7 [1],[2] $ (3.4) [1],[2] $ 5.0 [1],[2] $ 10.6 [1],[2] $ (1.6) [1] $ (8.4) [1] $ (11.8) [1] $ (1.0) [1] $ 131.9 $ (22.8) $ 38.0
Less: Net earnings attributable to noncontrolling interest                 (1.5) (1.4) (0.3)
Less: Undistributed earnings attributable to unvested shares                 (1.7) 0 (0.2)
Earnings (loss) from continuing operations available to Modine shareholders                 128.7 (24.2) 37.5
Earnings from discontinued operations                 0 0 0.8
Net earnings (loss) available to Modine shareholders                 128.7 (24.2) 38.3
Weighted average shares outstanding - basic (in shares)                 46.9 46.6 46.5
Basic Earnings Per Share [Abstract]                      
Earnings (loss) per share - continuing operations (in dollars per share)                 $ 2.75 $ (0.52) $ 0.81
Earnings per share - discontinued operations (in dollars per share)                 $ 0 $ 0 $ 0.02
Net earnings (loss) per share - basic (in dollars per share)                 $ 2.75 $ (0.52) $ 0.83
Diluted [Abstract]                      
Earnings (loss) from continuing operations 119.7 [1],[2] (3.4) [1],[2] 5.0 [1],[2] 10.6 [1],[2] (1.6) [1] (8.4) [1] (11.8) [1] (1.0) [1] 131.9 (22.8) 38.0
Less: Net earnings attributable to noncontrolling interest                 (1.5) (1.4) (0.3)
Less: Undistributed earnings attributable to unvested shares                 (0.9) 0 (0.2)
Earnings (loss) from continuing operations available to Modine shareholders                 129.5 (24.2) 37.5
Earnings from discontinued operations                 0 0 0.8
Net earnings (loss) available to Modine shareholders                 $ 129.5 $ (24.2) $ 38.3
Weighted average shares outstanding - basic (in shares)                 46.9 46.6 46.5
Effect of dilutive securities (in shares)                 0.7 0 0.4
Weighted average shares outstanding - diluted (in shares)                 47.6 46.6 46.9
Diluted Earnings Per Share [Abstract]                      
Earnings (loss) per share - continuing operations (in dollars per share)                 $ 2.72 $ (0.52) $ 0.80
Earnings per share - discontinued operations (in dollars per share)                 $ 0 $ 0 $ 0.02
Net earnings (loss) per share - diluted (in dollars per share) $ 2.49 [2] $ (0.08) $ 0.10 $ 0.21 $ (0.04) $ (0.19) $ (0.26) $ (0.03) $ 2.72 $ (0.52) $ 0.82
Potential dilutive securities (in shares)                   0.3  
Stock Options [Member]
                      
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]                      
Antidilutive securities excluded from computation of earning per share (in shares)                 0.8 1.1 1.1
Restricted Stock [Member]
                      
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]                      
Antidilutive securities excluded from computation of earning per share (in shares)                 0 0.1 0.4
[1] The quarterly financial data presented above includes restructuring expenses and impairment charges, primarily related to our Europe restructuring program and certain restructuring actions in the U.S. During fiscal 2014, restructuring expenses totaled $0.5 million, $0.6 million, $9.4 million, and $5.6 million for the quarters ended June 30, 2013, September 30, 2013, December 31, 2013, and March 31, 2014, respectively. The Company recorded impairment charges of $2.0 million and $1.2 million during the quarters ended December 31, 2013 and March 31, 2014, respectively. During fiscal 2013, restructuring expenses totaled $4.6 million, $1.3 million, $1.4 million, and $9.7 million for the quarters ended June 30, 2012, September 30, 2012, December 31, 2012, and March 31, 2013, respectively. The Company recorded impairment charges of $16.7 million, $8.3 million, and $0.9 million during the quarters ended September 30, 2012, December 31, 2012, and March 31, 2013, respectively. See Note 6 for additional information.
[2] The quarter ended March 31, 2014 was benefited by the reversal of U.S. income tax valuation allowances totaling $119.2 million. See Note 8 for additional information.