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Segment and Geographic Information (Tables) | 12 Months Ended
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Mar. 31, 2018
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: |  | 2018 |  |  | 2017 |  |  | 2016 |
Americas |  | $ | 580.7 |  |  | $ | 534.0 |  |  | $ | 585.5 |
Europe |  |  | 568.3 |  |  |  | 524.3 |  |  |  | 524.1 |
Asia |  |  | 165.8 |  |  |  | 111.5 |  |  |  | 79.0 |
CIS |  |  | 620.0 |  |  |  | 177.7 |  |  |  | - |
BHVAC |  |  | 191.2 |  |  |  | 171.6 |  |  |  | 181.4 |
Segment total |  |  | 2,126.0 |  |  |  | 1,519.1 |  |  |  | 1,370.0 |
Corporate and eliminations |  |  | (22.9 | ) |  |  | (16.1 | ) |  |  | (17.5 | )
Net sales |  | $ | 2,103.1 |  |  | $ | 1,503.0 |  |  | $ | 1,352.5 |
|  | Years ended March 31, |
|  | 2018 |  |  | 2017 |  |  | 2016 |
Gross profit: |  | $'s |  |  | % of sales |  |  | $'s |  |  | % of sales |  |  | $'s |  |  | % of sales |
Americas |  | $ | 91.9 |  |  |  | 15.8 | % |  | $ | 87.0 |  |  |  | 16.3 | % |  | $ | 100.3 |  |  |  | 17.1 | %
Europe |  |  | 83.8 |  |  |  | 14.7 | % |  |  | 81.6 |  |  |  | 15.6 | % |  |  | 69.5 |  |  |  | 13.3 | %
Asia |  |  | 30.3 |  |  |  | 18.3 | % |  |  | 18.7 |  |  |  | 16.8 | % |  |  | 12.2 |  |  |  | 15.5 | %
CIS |  |  | 92.1 |  |  |  | 14.9 | % |  |  | 26.0 |  |  |  | 14.6 | % |  |  | - |  |  |  | - |
BHVAC |  |  | 58.0 |  |  |  | 30.3 | % |  |  | 47.8 |  |  |  | 27.8 | % |  |  | 54.2 |  |  |  | 29.9 | %
Segment total |  |  | 356.1 |  |  |  | 16.8 | % |  |  | 261.1 |  |  |  | 17.2 | % |  |  | 236.2 |  |  |  | 17.2 | %
Corporate and eliminations (a) |  |  | 0.4 |  |  |  | - |  |  |  | (6.7 | ) |  |  | - |  |  |  | (2.6 | ) |  |  | - |
Gross profit |  | $ | 356.5 |  |  |  | 17.0 | % |  | $ | 254.4 |  |  |  | 16.9 | % |  | $ | 233.6 |  |  |  | 17.3 | %
|  | Years ended March 31, |
Operating income: |  | 2018 |  |  | 2017 |  |  | 2016 |
Americas |  | $ | 38.2 |  |  | $ | 27.9 |  |  | $ | 36.9 |
Europe |  |  | 33.6 |  |  |  | 38.2 |  |  |  | 14.7 |
Asia |  |  | 17.6 |  |  |  | 7.7 |  |  |  | 0.8 |
CIS |  |  | 25.8 |  |  |  | 7.5 |  |  |  | - |
BHVAC |  |  | 20.3 |  |  |  | 13.2 |  |  |  | 13.9 |
Segment total |  |  | 135.5 |  |  |  | 94.5 |  |  |  | 66.3 |
Corporate and eliminations (a) |  |  | (43.3 | ) |  |  | (52.2 | ) |  |  | (29.2 | )
Operating income |  | $ | 92.2 |  |  | $ | 42.3 |  |  | $ | 37.1 |
| (a) | During fiscal 2018 and 2017, the Company recorded $4.3 million and $14.8 million, respectively, of costs incurred directly related to the acquisition and integration of Luvata HTS within SG&A expenses at Corporate. During fiscal 2017, the Company recorded $4.3 million in cost of sales related to an inventory purchase accounting adjustment at Corporate, as the impact was excluded from the Company’s measure of segment operating performance.
The following is a summary of total assets by segment:
|  | March 31, |
|  | 2018 |  |  | 2017 |
Americas |  | $ | 290.6 |  |  | $ | 282.9 |
Europe |  |  | 324.0 |  |  |  | 269.4 |
Asia |  |  | 144.5 |  |  |  | 111.3 |
CIS |  |  | 630.0 |  |  |  | 576.0 |
BHVAC |  |  | 88.1 |  |  |  | 85.2 |
Corporate and eliminations (a) |  |  | 96.2 |  |  |  | 124.7 |
Total assets |  | $ | 1,573.4 |  |  | $ | 1,449.5 |
| (a) | The decrease in total assets at Corporate was primarily due to a decrease in deferred tax assets resulting from the impact of tax reform in the U.S. See Note 7 for additional information regarding the reduction in the corporate tax rate in the U.S.
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: |  | 2018 |  |  | 2017 |  |  | 2016 |
Americas |  | $ | 22.2 |  |  | $ | 26.3 |  |  | $ | 26.7 |
Europe |  |  | 26.8 |  |  |  | 24.7 |  |  |  | 24.8 |
Asia |  |  | 12.4 |  |  |  | 8.5 |  |  |  | 6.2 |
CIS |  |  | 9.0 |  |  |  | 3.4 |  |  |  | - |
BHVAC |  |  | 0.6 |  |  |  | 1.5 |  |  |  | 5.1 |
Total capital expenditures |  | $ | 71.0 |  |  | $ | 64.4 |  |  | $ | 62.8 |
|  | Years ended March 31, |
Depreciation and amortization expense: |  | 2018 |  |  | 2017 |  |  | 2016 |
Americas |  | $ | 22.2 |  |  | $ | 22.7 |  |  | $ | 22.1 |
Europe |  |  | 18.4 |  |  |  | 16.5 |  |  |  | 18.0 |
Asia |  |  | 7.6 |  |  |  | 7.0 |  |  |  | 6.5 |
CIS |  |  | 24.3 |  |  |  | 7.9 |  |  |  | - |
BHVAC |  |  | 4.2 |  |  |  | 4.2 |  |  |  | 3.6 |
Total depreciation and amortization expense |  | $ | 76.7 |  |  | $ | 58.3 |  |  | $ | 50.2 |
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, |
|  | 2018 |  |  | 2017 |  |  | 2016 |
United States |  | $ | 911.4 |  |  | $ | 657.8 |  |  | $ | 627.6 |
Italy |  |  | 211.5 |  |  |  | 94.4 |  |  |  | 44.1 |
China |  |  | 156.0 |  |  |  | 73.7 |  |  |  | 29.3 |
Hungary |  |  | 153.9 |  |  |  | 145.6 |  |  |  | 145.9 |
Austria |  |  | 151.7 |  |  |  | 125.2 |  |  |  | 113.1 |
Germany |  |  | 132.6 |  |  |  | 130.1 |  |  |  | 155.3 |
Other |  |  | 386.0 |  |  |  | 276.2 |  |  |  | 237.2 |
Net sales |  | $ | 2,103.1 |  |  | $ | 1,503.0 |  |  | $ | 1,352.5 |
Summary of property, plant and equipment by geographical area | The following is a summary of property, plant and equipment by geographical area:
|  | March 31, |
|  | 2018 |  |  | 2017 |
United States |  | $ | 121.5 |  |  | $ | 124.7 |
Italy |  |  | 62.0 |  |  |  | 55.8 |
Hungary |  |  | 59.3 |  |  |  | 37.7 |
China |  |  | 49.6 |  |  |  | 40.0 |
Mexico |  |  | 49.4 |  |  |  | 47.0 |
Austria |  |  | 42.8 |  |  |  | 44.3 |
Germany |  |  | 37.2 |  |  |  | 28.9 |
Other |  |  | 82.5 |  |  |  | 80.6 |
Total property, plant and equipment |  | $ | 504.3 |  |  | $ | 459.0 |
Summary of net sales by end market | The following is a summary of net sales by end market:
|  | Years ended March 31, |
|  | 2018 |  |  | 2017 |  |  | 2016 |
Automotive |  | $ | 526.0 |  |  | $ | 461.0 |  |  | $ | 396.8 |
Commercial vehicle |  |  | 381.7 |  |  |  | 382.5 |  |  |  | 459.8 |
Off-highway |  |  | 271.2 |  |  |  | 202.8 |  |  |  | 206.2 |
Other vehicular |  |  | 61.9 |  |  |  | 55.8 |  |  |  | 57.6 |
Commercial & residential air conditioning |  |  | 371.3 |  |  |  | 136.5 |  |  |  | 48.8 |
Commercial refrigeration |  |  | 158.7 |  |  |  | 52.2 |  |  |  | - |
Other HVAC&R |  |  | 332.3 |  |  |  | 212.2 |  |  |  | 183.3 |
Net sales |  | $ | 2,103.1 |  |  | $ | 1,503.0 |  |  | $ | 1,352.5 |

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