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Segment Information
 6 Months Ended
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