CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Mar. 31, 2017	Mar. 31, 2016
ASSETS
Cash and cash equivalents	$ 34.2	$ 68.9
Trade accounts receivable - net	295.2	189.1
Inventories	168.5	111.0
Other current assets	55.4	43.5
Total current assets	553.3	412.5
Property, plant and equipment - net	459.0	338.6
Intangible assets - net	134.1	8.2
Goodwill	165.1	15.8
Deferred income taxes	108.4	123.1
Other noncurrent assets	29.6	22.7
Total assets	1,449.5	920.9
LIABILITIES AND SHAREHOLDERS' EQUITY
Short-term debt	73.4	28.6
Long-term debt - current portion	31.8	8.5
Accounts payable	230.3	142.4
Accrued compensation and employee benefits	74.8	58.6
Other current liabilities	45.1	35.5
Total current liabilities	455.4	273.6
Long-term debt	405.7	125.5
Deferred income taxes	9.7	4.2
Pensions	119.4	118.6
Other noncurrent liabilities	38.1	16.3
Total liabilities	1,028.3	538.2
Commitments and contingencies (see Note 18)
Shareholders' equity:
Preferred stock, $0.025 par value, authorized 16.0 million shares, issued - none	0.0	0.0
Common stock, $0.625 par value, authorized 80.0 million shares, issued 51.8 million and 49.0 million shares	32.4	30.6
Additional paid-in capital	216.4	185.6
Retained earnings	372.4	358.2
Accumulated other comprehensive loss	(181.8)	(174.2)
Treasury stock, at cost, 1.7 million and 1.6 million shares	(25.4)	(24.0)
Total Modine shareholders' equity	414.0	376.2
Noncontrolling interest	7.2	6.5
Total equity	421.2	382.7
Total liabilities and equity	$ 1,449.5	$ 920.9

Carrying value as of the balance sheet date of liabilities incurred (and for which invoices have typically been received) and payable to vendors for goods and services received that are used in an entity's business. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).

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- Definition

Amount due from customers or clients, within one year of the balance sheet date (or the normal operating cycle, whichever is longer), for goods or services (including trade receivables) that have been delivered or sold in the normal course of business, reduced to the estimated net realizable fair value by an allowance established by the entity of the amount it deems uncertain of collection.