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Goodwill | 12 Months Ended
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Mar. 31, 2016
Goodwill [Abstract] |
Goodwill |
Note 14: | Goodwill
Changes in the carrying amount of goodwill, by segment and in the aggregate, were as follows:
|  | Americas |  | Asia |  | Building HVAC |  | Total
Balance, March 31, 2014 |  | $ | 10.9 |  |  | $ | 0.5 |  |  | $ | 17.3 |  |  | $ | 28.7 |
Impairment charge |  |  | (7.8 | ) |  |  | - |  |  |  | - |  |  |  | (7.8 | )
Effect of exchange rate changes |  |  | (3.1 | ) |  |  | - |  |  |  | (1.6 | ) |  |  | (4.7 | )
Balance, March 31, 2015 |  |  | - |  |  |  | 0.5 |  |  |  | 15.7 |  |  |  | 16.2 |
Effect of exchange rate changes |  |  | - |  |  |  | - |  |  |  | (0.4 | ) |  |  | (0.4 | )
Balance, March 31, 2016 |  | $ | - |  |  | $ | 0.5 |  |  | $ | 15.3 |  |  | $ | 15.8 |
The Company assesses goodwill for impairment annually, or more frequently if events or circumstances change that would, more likely than not, reduce the fair value of a reporting unit below its carrying value. The Company conducted its annual assessment for goodwill impairment during the fourth quarter of fiscal 2016 by applying a fair value-based test and determined that the fair value of its reporting units exceeded their respective book values. In fiscal 2015, the Company recorded a $7.8 million goodwill impairment charge within the Americas segment in connection with its annual assessment. The impairment charge was primarily caused by a decline in the financial outlook for Brazil. At both March 31, 2016 and 2015, accumulated goodwill impairment losses totaled $31.6 million and $8.7 million within the Americas and Europe segments, respectively.

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