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Segment Information | 9 Months Ended
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Dec. 31, 2017
Segment Information [Abstract] |
Segment Information |
Note 17: | Segment Information
The following is a summary of net sales, gross profit, operating income, and total assets by segment. In fiscal 2018, the Company adopted new accounting guidance related to the income statement presentation of pension and postretirement costs. Accordingly, the Company recast the comparable fiscal 2017 segment financial results to conform to the current-period presentation. See Note 1 for additional information on this new accounting guidance.
|  | Three months ended December 31, |  |  | Nine months ended December 31, |
Net sales: |  | 2017 |  |  | 2016 |  |  | 2017 |  |  | 2016 |
Americas |  | $ | 140.5 |  |  | $ | 123.4 |  |  | $ | 430.7 |  |  | $ | 389.4 |
Europe |  |  | 134.6 |  |  |  | 119.8 |  |  |  | 405.4 |  |  |  | 389.7 |
Asia |  |  | 42.8 |  |  |  | 28.6 |  |  |  | 117.7 |  |  |  | 78.2 |
Commercial and Industrial Solutions (a) |  |  | 144.9 |  |  |  | 34.7 |  |  |  | 451.6 |  |  |  | 34.7 |
Building HVAC |  |  | 56.1 |  |  |  | 47.2 |  |  |  | 147.9 |  |  |  | 132.8 |
Segment total |  |  | 518.9 |  |  |  | 353.7 |  |  |  | 1,553.3 |  |  |  | 1,024.8 |
Corporate and eliminations |  |  | (6.2 | ) |  |  | (3.9 | ) |  |  | (16.8 | ) |  |  | (10.1 | )
Net sales |  | $ | 512.7 |  |  | $ | 349.8 |  |  | $ | 1,536.5 |  |  | $ | 1,014.7 |
|  | Three months ended December 31, |  |  | Nine months ended December 31, |
|  | 2017 |  |  | 2016 |  |  | 2017 |  |  | 2016 |
Gross profit: |  | $'s |  |  | % of sales |  |  | $'s |  |  | % of sales |  |  | $'s |  |  | % of sales |  |  | $'s |  |  | % of sales |
Americas |  | $ | 21.7 |  |  |  | 15.4 | % |  | $ | 18.4 |  |  |  | 14.9 | % |  | $ | 69.7 |  |  |  | 16.2 | % |  | $ | 59.5 |  |  |  | 15.3 | %
Europe |  |  | 17.9 |  |  |  | 13.3 | % |  |  | 18.6 |  |  |  | 15.5 | % |  |  | 56.8 |  |  |  | 14.0 | % |  |  | 60.3 |  |  |  | 15.5 | %
Asia |  |  | 8.2 |  |  |  | 19.0 | % |  |  | 5.0 |  |  |  | 17.6 | % |  |  | 21.9 |  |  |  | 18.6 | % |  |  | 13.1 |  |  |  | 16.7 | %
Commercial and Industrial Solutions (a) |  |  | 18.6 |  |  |  | 12.9 | % |  |  | 4.4 |  |  |  | 12.7 | % |  |  | 66.4 |  |  |  | 14.7 | % |  |  | 4.4 |  |  |  | 12.7 | %
Building HVAC |  |  | 19.0 |  |  |  | 33.8 | % |  |  | 15.3 |  |  |  | 32.4 | % |  |  | 45.0 |  |  |  | 30.4 | % |  |  | 37.1 |  |  |  | 28.0 | %
Segment total |  |  | 85.4 |  |  |  | 16.4 | % |  |  | 61.7 |  |  |  | 17.5 | % |  |  | 259.8 |  |  |  | 16.7 | % |  |  | 174.4 |  |  |  | 17.0 | %
Corporate and eliminations |  |  | - |  |  |  | - |  |  |  | (2.7 | ) |  |  | - |  |  |  | 0.2 |  |  |  | - |  |  |  | (5.1 | ) |  |  | - |
Gross profit |  | $ | 85.4 |  |  |  | 16.7 | % |  | $ | 59.0 |  |  |  | 16.9 | % |  | $ | 260.0 |  |  |  | 16.9 | % |  | $ | 169.3 |  |  |  | 16.7 | %
|  | Three months ended December 31, |  |  | Nine months ended December 31, |
Operating income: |  | 2017 |  |  | 2016 |  |  | 2017 |  |  | 2016 |
Americas |  | $ | 8.9 |  |  | $ | 5.7 |  |  | $ | 28.8 |  |  | $ | 14.2 |
Europe |  |  | 6.3 |  |  |  | 8.6 |  |  |  | 22.8 |  |  |  | 30.9 |
Asia |  |  | 5.1 |  |  |  | 2.6 |  |  |  | 12.6 |  |  |  | 4.9 |
Commercial and Industrial Solutions (a) |  |  | (4.6 | ) |  |  | (0.3 | ) |  |  | 14.3 |  |  |  | (0.3 | )
Building HVAC |  |  | 9.2 |  |  |  | 6.7 |  |  |  | 18.6 |  |  |  | 10.4 |
Segment total |  |  | 24.9 |  |  |  | 23.3 |  |  |  | 97.1 |  |  |  | 60.1 |
Corporate and eliminations |  |  | (11.0 | ) |  |  | (16.6 | ) |  |  | (32.1 | ) |  |  | (38.7 | )
Operating income |  | $ | 13.9 |  |  | $ | 6.7 |  |  | $ | 65.0 |  |  | $ | 21.4 |
|  | December 31, 2017 |  |  | March 31, 2017 |
Total assets: |  |  |  |  |  |
Americas |  | $ | 275.9 |  |  | $ | 282.9 |
Europe |  |  | 308.1 |  |  |  | 269.4 |
Asia |  |  | 132.5 |  |  |  | 111.3 |
Commercial and Industrial Solutions |  |  | 606.8 |  |  |  | 576.0 |
Building HVAC |  |  | 88.8 |  |  |  | 85.2 |
Corporate and eliminations (b) |  |  | 90.1 |  |  |  | 124.7 |
Total assets |  | $ | 1,502.2 |  |  | $ | 1,449.5 |
| (a) | The Company acquired Luvata HTS on November 30, 2016 and began operating the business as its CIS segment. As the Company has consolidated CIS financial results since the acquisition date, the three and nine months ended December 31, 2016 included one month of financial results from CIS operations. During the three months ended December 31, 2017, the Company recorded restructuring expenses and an impairment charge totaling $9.5 million within the CIS segment associated with the closure of a manufacturing facility in Austria. See Note 6 for additional information.
| (b) | 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 8 for additional information regarding the reduction in the corporate tax rate in the U.S.

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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -URI http://asc.fasb.org/topic&trid=2134510 + Details
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