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v3.20.2

Segment Information | 6 Months Ended
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Sep. 30, 2020
Segment Information [Abstract] |
Segment Information | Note 19: Segment Information Effective April 1, 2020, the Company began managing its global automotive business separate from the other businesses within the previously-reported Vehicular Thermal Solutions (“VTS”) segment. The Company is managing the automotive business as the Automotive segment as it targets the sale or eventual exit of its underlying automotive business operations. The other businesses of the VTS segment, including the commercial vehicle and off-highway businesses, are being managed as the Heavy Duty Equipment segment. The segment realignment had no impact on the CIS and BHVAC segments or on the Company’s consolidated financial position, results of operations, and cash flows. Segment financial information for fiscal 2020 has been recast to conform to the fiscal 2021 presentation. Each operating segment is managed by a vice president and has separate financial results reviewed by the Company’s chief operating decision maker. These results are used by management in evaluating the performance of each segment and in making decisions on the allocation of resources among the Company’s various businesses. The following is a summary of net sales, gross profit, operating income, and total assets by segment:
|  | Three months ended September 30, |
|  | 2020 |  |  | 2019 |
|  | External Sales |  |  | Inter-segment Sales |  |  | Total |  |  | External Sales |  |  | Inter-segment Sales |  |  | Total |
Net sales: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
CIS |  | $ | 133.2 |  |  | $ | 0.9 |  |  | $ | 134.1 |  |  | $ | 155.7 |  |  | $ | 1.0 |  |  | $ | 156.7 |
BHVAC |  |  | 61.9 |  |  |  | - |  |  |  | 61.9 |  |  |  | 55.7 |  |  |  | 0.3 |  |  |  | 56.0 |
HDE |  |  | 157.6 |  |  |  | 8.0 |  |  |  | 165.6 |  |  |  | 173.9 |  |  |  | 13.3 |  |  |  | 187.2 |
Automotive |  |  | 108.7 |  |  |  | 1.2 |  |  |  | 109.9 |  |  |  | 114.9 |  |  |  | 0.8 |  |  |  | 115.7 |
Segment total |  |  | 461.4 |  |  |  | 10.1 |  |  |  | 471.5 |  |  |  | 500.2 |  |  |  | 15.4 |  |  |  | 515.6 |
Corporate and eliminations |  |  | - |  |  |  | (10.1 | ) |  |  | (10.1 | ) |  |  | - |  |  |  | (15.4 | ) |  |  | (15.4 | )
Net sales |  | $ | 461.4 |  |  | $ | - |  |  | $ | 461.4 |  |  | $ | 500.2 |  |  | $ | - |  |  | $ | 500.2 |
|  | Six months ended September 30, |
|  | 2020 |  |  | 2019 |
|  | External Sales |  |  | Inter-segment Sales |  |  | Total |  |  | External Sales |  |  | Inter-segment Sales |  |  | Total |
Net sales: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
CIS |  | $ | 254.5 |  |  | $ | 2.1 |  |  | $ | 256.6 |  |  | $ | 323.6 |  |  | $ | 1.9 |  |  | $ | 325.5 |
BHVAC |  |  | 109.3 |  |  |  | 0.2 |  |  |  | 109.5 |  |  |  | 104.2 |  |  |  | 0.8 |  |  |  | 105.0 |
HDE |  |  | 275.9 |  |  |  | 13.2 |  |  |  | 289.1 |  |  |  | 373.6 |  |  |  | 30.0 |  |  |  | 403.6 |
Automotive |  |  | 169.5 |  |  |  | 2.5 |  |  |  | 172.0 |  |  |  | 227.8 |  |  |  | 1.5 |  |  |  | 229.3 |
Segment total |  |  | 809.2 |  |  |  | 18.0 |  |  |  | 827.2 |  |  |  | 1,029.2 |  |  |  | 34.2 |  |  |  | 1,063.4 |
Corporate and eliminations |  |  | - |  |  |  | (18.0 | ) |  |  | (18.0 | ) |  |  | - |  |  |  | (34.2 | ) |  |  | (34.2 | )
Net sales |  | $ | 809.2 |  |  | $ | - |  |  | $ | 809.2 |  |  | $ | 1,029.2 |  |  | $ | - |  |  | $ | 1,029.2 |
|  | Three months ended September 30, |  |  | Six months ended September 30, |
|  | 2020 |  |  | 2019 |  |  | 2020 |  |  | 2019 |
|  | $'s |  |  | % of sales |  |  | $'s |  |  | % of sales |  |  | $'s |  |  | % of sales |  |  | $'s |  |  | % of sales |
Gross profit: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
CIS |  | $ | 19.3 |  |  |  | 14.4 | % |  | $ | 22.9 |  |  |  | 14.6 | % |  | $ | 34.8 |  |  |  | 13.5 | % |  | $ | 47.2 |  |  |  | 14.5 | %
BHVAC |  |  | 21.7 |  |  |  | 35.1 | % |  |  | 17.7 |  |  |  | 31.7 | % |  |  | 36.2 |  |  |  | 33.1 | % |  |  | 31.4 |  |  |  | 29.9 | %
HDE |  |  | 23.6 |  |  |  | 14.2 | % |  |  | 22.4 |  |  |  | 12.0 | % |  |  | 34.9 |  |  |  | 12.1 | % |  |  | 54.9 |  |  |  | 13.6 | %
Automotive |  |  | 16.6 |  |  |  | 15.2 | % |  |  | 13.0 |  |  |  | 11.2 | % |  |  | 21.4 |  |  |  | 12.5 | % |  |  | 25.5 |  |  |  | 11.1 | %
Segment total |  |  | 81.2 |  |  |  | 17.2 | % |  |  | 76.0 |  |  |  | 14.7 | % |  |  | 127.3 |  |  |  | 15.4 | % |  |  | 159.0 |  |  |  | 15.0 | %
Corporate and eliminations |  |  | (0.4 | ) |  |  | - |  |  |  | (0.3 | ) |  |  | - |  |  |  | (0.4 | ) |  |  | - |  |  |  | 0.1 |  |  |  | - |
Gross profit |  | $ | 80.8 |  |  |  | 17.5 | % |  | $ | 75.7 |  |  |  | 15.1 | % |  | $ | 126.9 |  |  |  | 15.7 | % |  | $ | 159.1 |  |  |  | 15.5 | %
|  | Three months ended September 30, |  |  | Six months ended September 30, |
|  | 2020 |  |  | 2019 |  |  | 2020 |  |  | 2019 |
Operating income: |  |  |  |  |  |  |  |  |  |  |  |
CIS |  | $ | 5.6 |  |  | $ | 8.5 |  |  | $ | 5.6 |  |  | $ | 17.5 |
BHVAC |  |  | 13.1 |  |  |  | 8.8 |  |  |  | 20.2 |  |  |  | 14.1 |
HDE |  |  | 13.3 |  |  |  | 7.1 |  |  |  | 10.8 |  |  |  | 24.4 |
Automotive |  |  | 8.0 |  |  |  | 0.4 |  |  |  | 4.2 |  |  |  | 0.4 |
Segment total |  |  | 40.0 |  |  |  | 24.8 |  |  |  | 40.8 |  |  |  | 56.4 |
Corporate and eliminations |  |  | (11.5 | ) |  |  | (18.8 | ) |  |  | (15.5 | ) |  |  | (32.3 | )
Operating income |  | $ | 28.5 |  |  | $ | 6.0 |  |  | $ | 25.3 |  |  | $ | 24.1 |
|  | September 30, 2020 |  |  | March 31, 2020 |
Total assets: |  |  |  |  |  |
CIS |  | $ | 598.2 |  |  | $ | 617.7 |
BHVAC |  |  | 105.4 |  |  |  | 102.3 |
HDE |  |  | 418.8 |  |  |  | 417.4 |
Automotive |  |  | 281.7 |  |  |  | 272.5 |
Corporate and eliminations |  |  | 106.8 |  |  |  | 126.2 |
Total assets |  | $ | 1,510.9 |  |  | $ | 1,536.1 |

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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/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8924-108599 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 34 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8981-108599 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8721-108599 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 40 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9031-108599 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (f) -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (e) -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 26 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8844-108599 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9038-108599 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8736-108599 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 42 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9054-108599 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 15 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8657-108599 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8721-108599 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -URI http://asc.fasb.org/topic&trid=2134510 + Details
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