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Pensions (Tables)
 6 Months Ended
Sep. 30, 2016
Pensions [Abstract]  
Components of pension cost
Pension cost included the following components:

  
Three months ended
 September 30,
  
Six months ended
 September 30,
 
  
2016
  
2015
  
2016
  
2015
 
Service cost
 
$
0.2
  
$
0.2
  
$
0.3
  
$
0.3
 
Interest cost
  
2.4
   
3.1
   
4.8
   
6.1
 
Expected return on plan assets
  
(3.1
)
  
(4.4
)
  
(6.1
)
  
(8.7
)
Amortization of unrecognized net loss
  
1.4
   
1.8
   
2.8
   
3.6
 
Settlements (a)
  
-
   
39.2
   
-
   
39.2
 
Net periodic benefit cost
 
$
0.9
  
$
39.9
  
$
1.8
  
$
40.5
 
 
(a)
During September 2015, in an effort to reduce the size, volatility, mortality risk, and costs associated with its U.S. pension plans, the Company offered a voluntary lump-sum payout program to certain eligible former employees.  Approximately 2,000 participants accepted the lump-sum settlement offer and a total of $60.8 million was paid from pension plan assets during the second quarter of fiscal 2016, which reduced the Company’s pension obligation by the same amount.  In connection with these lump-sum payouts, the Company recorded $39.2 million of non-cash settlement losses related to the accelerated recognition of unamortized actuarial losses previously recorded on the consolidated balance sheets within accumulated other comprehensive loss.  The Company recorded $30.9 million and $8.3 million of the settlement losses as selling, general and administrative (“SG&A”) expenses and cost of sales, respectively, within the consolidated statement of operations.