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Segment Information | 6 Months Ended
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Sep. 30, 2022
Segment Information [Abstract] |
Segment Information | Note 19: Segment Information Effective April 1, 2022, the Company began managing its operations under two operating segments, Climate Solutions and Performance Technologies. The Climate Solutions segment includes the previously-reported BHVAC and CIS segments, with the exception of CIS Coatings. The Performance Technologies segment includes the previously-reported HDE and Automotive segments and the CIS Coatings business. See Note 2 for information regarding the primary operating activities of each segment. The Company’s new segment structure aligns businesses serving similar or complimentary end markets, products and technologies under common segment management. The Company expects this simplified segment structure will allow it to better focus resources on targeted growth opportunities and allow for an efficient application of 80/20 principles across all product lines to optimize profit margins and cash flow. The segment realignment had no impact on the Company’s consolidated financial position, results of operations, and cash flows. Segment financial information for the prior periods has been recast to conform to the current presentation. The following is a summary of net sales, gross profit and operating income by segment:
|  | Three months ended September 30, |
|  | 2022 |  |  | 2021 |
|  | External Sales |  |  | Inter-segment Sales |  |  | Total |  |  | External Sales |  |  | Inter-segment Sales |  |  | Total |
Net sales: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Climate Solutions |  | $ | 255.8 |  |  | $ | 0.1 |  |  | $ | 255.9 |  |  | $ | 217.0 |  |  | $ | 0.2 |  |  | $ | 217.2 |
Performance Technologies |  |  | 323.0 |  |  |  | 7.0 |  |  |  | 330.0 |  |  |  | 261.9 |  |  |  | 8.9 |  |  |  | 270.8 |
Segment total |  |  | 578.8 |  |  |  | 7.1 |  |  |  | 585.9 |  |  |  | 478.9 |  |  |  | 9.1 |  |  |  | 488.0 |
Corporate and eliminations |  |  | - |  |  |  | (7.1 | ) |  |  | (7.1 | ) |  |  | - |  |  |  | (9.1 | ) |  |  | (9.1 | )
Net sales |  | $ | 578.8 |  |  | $ | - |  |  | $ | 578.8 |  |  | $ | 478.9 |  |  | $ | - |  |  | $ | 478.9 |
|  | Six months ended September 30, |
|  | 2022 |  |  | 2021 |
|  | External Sales |  |  | Inter-segment Sales |  |  | Total |  |  | External Sales |  |  | Inter-segment Sales |  |  | Total |
Net sales: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Climate Solutions |  | $ | 500.0 |  |  | $ | 0.3 |  |  | $ | 500.3 |  |  | $ | 423.5 |  |  | $ | 0.2 |  |  | $ | 423.7 |
Performance Technologies |  |  | 619.8 |  |  |  | 14.5 |  |  |  | 634.3 |  |  |  | 550.0 |  |  |  | 17.9 |  |  |  | 567.9 |
Segment total |  |  | 1,119.8 |  |  |  | 14.8 |  |  |  | 1,134.6 |  |  |  | 973.5 |  |  |  | 18.1 |  |  |  | 991.6 |
Corporate and eliminations |  |  | - |  |  |  | (14.8 | ) |  |  | (14.8 | ) |  |  | - |  |  |  | (18.1 | ) |  |  | (18.1 | )
Net sales |  | $ | 1,119.8 |  |  | $ | - |  |  | $ | 1,119.8 |  |  | $ | 973.5 |  |  | $ | - |  |  | $ | 973.5 |
|  | Three months ended September 30, |  |  | Six months ended September 30, |
|  | 2022 |  |  | 2021 |  |  | 2022 |  |  | 2021 |
|  |  | $’s |  |  | % of sales |  |  |  | $’s |  |  | % of sales |  |  |  | $’s |  |  | % of sales |  |  |  | $’s |  |  | % of sales |
Gross profit: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Climate Solutions |  | $ | 57.3 |  |  |  | 22.4 | % |  | $ | 35.9 |  |  |  | 16.5 | % |  | $ | 107.7 |  |  |  | 21.5 | % |  | $ | 68.5 |  |  |  | 16.2 | %
Performance Technologies |  |  | 39.2 |  |  |  | 11.9 | % |  |  | 29.5 |  |  |  | 10.9 | % |  |  | 72.2 |  |  |  | 11.4 | % |  |  | 69.7 |  |  |  | 12.3 | %
Segment total |  |  | 96.5 |  |  |  | 16.5 | % |  |  | 65.4 |  |  |  | 13.4 | % |  |  | 179.9 |  |  |  | 15.9 | % |  |  | 138.2 |  |  |  | 13.9 | %
Corporate and eliminations |  |  | (0.3 | ) |  |  | - |  |  |  | 0.9 |  |  |  | - |  |  |  | (0.3 | ) |  |  | - |  |  |  | 1.3 |  |  |  | - |
Gross profit |  | $ | 96.2 |  |  |  | 16.6 | % |  | $ | 66.3 |  |  |  | 13.8 | % |  | $ | 179.6 |  |  |  | 16.0 | % |  | $ | 139.5 |  |  |  | 14.3 | %
|  | Three months ended September 30, |  |  | Six months ended September 30, |
|  | 2022 |  |  | 2021 |  |  | 2022 |  |  | 2021 |
Operating income: |  |  |  |  |  |  |  |  |  |  |  |
Climate Solutions |  | $ | 32.7 |  |  | $ | 13.9 |  |  | $ | 59.7 |  |  | $ | 24.6 |
Performance Technologies |  |  | 16.3 |  |  |  | 2.1 |  |  |  | 23.7 |  |  |  | 17.8 |
Segment total |  |  | 49.0 |  |  |  | 16.0 |  |  |  | 83.4 |  |  |  | 42.4 |
Corporate and eliminations |  |  | (12.2 | ) |  |  | (5.5 | ) |  |  | (21.0 | ) |  |  | (23.2 | )
Operating income |  | $ | 36.8 |  |  | $ | 10.5 |  |  | $ | 62.4 |  |  | $ | 19.2 |
The following is a summary of segment assets, comprised entirely of trade accounts receivable and inventories, and other assets:
|  | September 30, 2022 |  |  | March 31, 2022 |
Assets: |  |  |  |  |  |
Climate Solutions |  | $ | 295.0 |  |  | $ | 291.7 |
Performance Technologies |  |  | 339.2 |  |  |  | 357.0 |
Other (a) |  |  | 758.0 |  |  |  | 778.3 |
Total assets |  | $ | 1,392.2 |  |  | $ | 1,427.0 |
| (a) | Represents cash and cash equivalents, other current assets, property plant and equipment, intangible assets, goodwill, deferred income taxes, and other noncurrent assets for the Climate Solutions and Performance Technologies segments and Corporate.

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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 https://asc.fasb.org/extlink&oid=126901519&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 https://asc.fasb.org/extlink&oid=126901519&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 https://asc.fasb.org/extlink&oid=126901519&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 https://asc.fasb.org/extlink&oid=126901519&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 https://asc.fasb.org/extlink&oid=126901519&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 https://asc.fasb.org/extlink&oid=126901519&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 https://asc.fasb.org/extlink&oid=126901519&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 https://asc.fasb.org/extlink&oid=126901519&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 https://asc.fasb.org/extlink&oid=126901519&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 https://asc.fasb.org/extlink&oid=126901519&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 https://asc.fasb.org/extlink&oid=126901519&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 https://asc.fasb.org/extlink&oid=126901519&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 https://asc.fasb.org/extlink&oid=126901519&loc=d3e8721-108599 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -URI https://asc.fasb.org/topic&trid=2134510 + Details
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