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Segment and Geographic Information (Tables) | 12 Months Ended
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Mar. 31, 2017
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: |  | 2017 |  |  | 2016 |  |  | 2015 |
Americas |  | $ | 534.0 |  |  | $ | 585.5 |  |  | $ | 666.9 |
Europe |  |  | 524.3 |  |  |  | 524.1 |  |  |  | 578.2 |
Asia |  |  | 111.5 |  |  |  | 79.0 |  |  |  | 81.2 |
CIS |  |  | 177.7 |  |  |  | - |  |  |  | - |
BHVAC |  |  | 171.6 |  |  |  | 181.4 |  |  |  | 186.3 |
Segment total |  |  | 1,519.1 |  |  |  | 1,370.0 |  |  |  | 1,512.6 |
Corporate and eliminations |  |  | (16.1 | ) |  |  | (17.5 | ) |  |  | (16.2 | )
Net sales |  | $ | 1,503.0 |  |  | $ | 1,352.5 |  |  | $ | 1,496.4 |
|  | Years ended March 31, |
|  | 2017 |  |  | 2016 |  |  | 2015 |
Gross profit: |  | $'s |  |  | % of sales |  |  | $'s |  |  | % of sales |  |  | $'s |  |  | % of sales |
Americas |  | $ | 86.6 |  |  |  | 16.2 | % |  | $ | 100.1 |  |  |  | 17.1 | % |  | $ | 109.1 |  |  |  | 16.3 | %
Europe |  |  | 80.9 |  |  |  | 15.4 | % |  |  | 68.1 |  |  |  | 13.0 | % |  |  | 68.7 |  |  |  | 11.9 | %
Asia |  |  | 18.7 |  |  |  | 16.8 | % |  |  | 12.2 |  |  |  | 15.5 | % |  |  | 11.5 |  |  |  | 14.2 | %
CIS |  |  | 26.0 |  |  |  | 14.6 | % |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
BHVAC |  |  | 47.8 |  |  |  | 27.8 | % |  |  | 54.2 |  |  |  | 29.9 | % |  |  | 55.9 |  |  |  | 30.0 | %
Segment total |  |  | 260.0 |  |  |  | 17.1 | % |  |  | 234.6 |  |  |  | 17.1 | % |  |  | 245.2 |  |  |  | 16.2 | %
Corporate and eliminations (a) |  |  | (6.7 | ) |  |  | - |  |  |  | (11.1 | ) |  |  | - |  |  |  | 1.3 |  |  |  | - |
Gross profit |  | $ | 253.3 |  |  |  | 16.9 | % |  | $ | 223.5 |  |  |  | 16.5 | % |  | $ | 246.5 |  |  |  | 16.5 | %
|  | Years ended March 31, |
Operating income: |  | 2017 |  |  | 2016 |  |  | 2015 |
Americas |  | $ | 26.7 |  |  | $ | 36.2 |  |  | $ | 33.4 |
Europe |  |  | 37.1 |  |  |  | 13.3 |  |  |  | 25.7 |
Asia |  |  | 7.7 |  |  |  | 0.8 |  |  |  | 0.3 |
CIS |  |  | 7.5 |  |  |  | - |  |  |  | - |
BHVAC |  |  | 13.1 |  |  |  | 13.9 |  |  |  | 19.1 |
Segment total |  |  | 92.1 |  |  |  | 64.2 |  |  |  | 78.5 |
Corporate and eliminations (a) |  |  | (52.7 | ) |  |  | (71.7 | ) |  |  | (25.8 | )
Operating income (loss) |  | $ | 39.4 |  |  | $ | (7.5 | ) |  | $ | 52.7 |
| (a) | During fiscal 2017, the Company recorded $14.8 million of costs incurred directly related to the acquisition and integration of Luvata HTS within SG&A expenses at Corporate. In addition, as a result of purchase accounting for the Luvata HTS acquisition, the Company wrote up acquired inventory to its estimated fair value and charged the write-up to cost of sales as the underlying inventory was sold. The Company recorded $4.3 million in cost of sales related to this inventory step-up at Corporate, as the impact of this purchase accounting adjustment is excluded from the Company’s measure of segment operating performance. During fiscal 2016, the Company recorded pension settlement losses of $42.1 million at Corporate, within SG&A expenses ($33.3 million) and cost of sales ($8.8 million). See Note 16 for additional information about the Company’s pension plans.
The following is a summary of total assets by segment:
|  | March 31, |
|  | 2017 |  |  | 2016 |
Americas |  | $ | 282.9 |  |  | $ | 267.2 |
Europe |  |  | 269.4 |  |  |  | 301.9 |
Asia |  |  | 111.3 |  |  |  | 104.0 |
CIS |  |  | 576.0 |  |  |  | - |
BHVAC |  |  | 85.2 |  |  |  | 99.0 |
Corporate and eliminations |  |  | 124.7 |  |  |  | 148.8 |
Total assets |  | $ | 1,449.5 |  |  | $ | 920.9 |
Summary of capital expenditures and depreciation and amortization expense by segment | The following is a summary of capital expenditures and depreciation and amortization expense by segment:
|  | Years ended March 31, |
Capital expenditures: |  | 2017 |  |  | 2016 |  |  | 2015 |
Americas |  | $ | 26.3 |  |  | $ | 26.7 |  |  | $ | 30.2 |
Europe |  |  | 24.7 |  |  |  | 24.8 |  |  |  | 21.5 |
Asia |  |  | 8.5 |  |  |  | 6.2 |  |  |  | 3.8 |
CIS |  |  | 3.4 |  |  |  | - |  |  |  | - |
BHVAC |  |  | 1.5 |  |  |  | 5.1 |  |  |  | 2.8 |
Total capital expenditures |  | $ | 64.4 |  |  | $ | 62.8 |  |  | $ | 58.3 |
|  | Years ended March 31, |
Depreciation and amortization expense: |  | 2017 |  |  | 2016 |  |  | 2015 |
Americas |  | $ | 22.7 |  |  | $ | 22.1 |  |  | $ | 21.3 |
Europe |  |  | 16.5 |  |  |  | 18.0 |  |  |  | 19.8 |
Asia |  |  | 7.0 |  |  |  | 6.5 |  |  |  | 7.2 |
CIS |  |  | 7.9 |  |  |  | - |  |  |  | - |
BHVAC |  |  | 4.2 |  |  |  | 3.6 |  |  |  | 3.3 |
Total depreciation and amortization expense |  | $ | 58.3 |  |  | $ | 50.2 |  |  | $ | 51.6 |
Summary of net sales and long-lived assets by geographical area | The following is a summary of net sales by geographical area, based upon the location of the selling unit:
|  | Years ended March 31, |
|  | 2017 |  |  | 2016 |  |  | 2015 |
United States |  | $ | 657.8 |  |  | $ | 627.6 |  |  | $ | 669.3 |
Hungary |  |  | 145.6 |  |  |  | 145.9 |  |  |  | 161.0 |
Germany |  |  | 130.1 |  |  |  | 155.3 |  |  |  | 193.8 |
Austria |  |  | 125.2 |  |  |  | 113.1 |  |  |  | 118.7 |
Italy |  |  | 94.4 |  |  |  | 44.1 |  |  |  | 40.6 |
Other |  |  | 349.9 |  |  |  | 266.5 |  |  |  | 313.0 |
Net sales |  | $ | 1,503.0 |  |  | $ | 1,352.5 |  |  | $ | 1,496.4 |
Summary of property, plant and equipment by geographical area | The following is a summary of property, plant and equipment by geographical area:
|  | March 31, |
|  | 2017 |  |  | 2016 |
United States |  | $ | 124.7 |  |  | $ | 92.5 |
Italy |  |  | 55.8 |  |  |  | 20.3 |
Mexico |  |  | 47.0 |  |  |  | 30.9 |
Austria |  |  | 44.3 |  |  |  | 44.2 |
China |  |  | 40.0 |  |  |  | 33.6 |
Hungary |  |  | 37.7 |  |  |  | 31.4 |
Germany |  |  | 28.9 |  |  |  | 32.1 |
Other |  |  | 80.6 |  |  |  | 53.6 |
Total property, plant and equipment |  | $ | 459.0 |  |  | $ | 338.6 |
Summary of net sales by end market | The following is a summary of net sales by end market:
|  | Years ended March 31, |
|  | 2017 |  |  | 2016 |  |  | 2015 |
Automotive |  | $ | 461.0 |  |  | $ | 396.8 |  |  | $ | 401.8 |
Commercial vehicle |  |  | 382.5 |  |  |  | 459.8 |  |  |  | 512.5 |
Off-highway |  |  | 202.8 |  |  |  | 206.2 |  |  |  | 274.6 |
HVAC&R |  |  | 400.9 |  |  |  | 232.1 |  |  |  | 229.6 |
Other |  |  | 55.8 |  |  |  | 57.6 |  |  |  | 77.9 |
Net sales |  | $ | 1,503.0 |  |  | $ | 1,352.5 |  |  | $ | 1,496.4 |

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