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Revenue Recognition (Tables) | 12 Months Ended
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Mar. 31, 2024
Revenue Recognition [Abstract] |
Disaggregation of Revenue | The tables below present revenue for each of the Company’s operating segments, Climate Solutions and Performance Technologies. Each segment’s revenue is disaggregated by product group, by geographic location and based upon the timing of revenue recognition. Beginning in fiscal 2024 and in connection with the Company’s strategic transformation and continued application of 80/20 principles across its businesses, the Company has refined its reporting of disaggregated revenue within the Climate Solutions segment to be more consistent with how the segment has aligned its teams around three market-based verticals: i) heat transfer products; ii) HVAC&R; and iii) data center cooling. For the refined fiscal 2024 presentation, the Company reports revenue based upon the respective product lines and related customer relationships managed by each market-based vertical team. See Note 22 for additional information regarding the Company’s operating segments. The disaggregated revenue information presented in the tables below for fiscal 2023 and 2022 has been recast to be comparable with the fiscal 2024 presentation.
|  | Year ended March 31, 2024 |
|  | Climate Solutions |  |  | Performance Technologies |  |  | Segment Total |
Product groups: |  |  |  |  |  |  |  |  |
Heat transfer |  | $ | 419.9 |  |  | $ | - |  |  | $ | 419.9 |
HVAC&R |  |  | 340.5 |  |  |  | - |  |  |  | 340.5 |
Data center cooling |  |  | 294.2 |  |  |  | - |  |  |  | 294.2 |
Air-cooled |  |  | - |  |  |  | 681.2 |  |  |  | 681.2 |
Liquid-cooled |  |  | - |  |  |  | 491.6 |  |  |  | 491.6 |
Advanced solutions |  |  | - |  |  |  | 180.4 |  |  |  | 180.4 |
Inter-segment sales |  |  | - |  |  |  | 24.8 |  |  |  | 24.8 |
Net sales |  | $ | 1,054.6 |  |  | $ | 1,378.0 |  |  | $ | 2,432.6 |
Geographic location: |  |  |  |  |  |  |  |  |  |  |  |
Americas |  | $ | 607.9 |  |  | $ | 764.2 |  |  | $ | 1,372.1 |
Europe |  |  | 420.3 |  |  |  | 420.3 |  |  |  | 840.6 |
Asia |  |  | 26.4 |  |  |  | 193.5 |  |  |  | 219.9 |
Net sales |  | $ | 1,054.6 |  |  | $ | 1,378.0 |  |  | $ | 2,432.6 |
Timing of revenue recognition: |  |  |  |  |  |  |  |  |  |  |  |
Products transferred at a point in time |  | $ | 1,015.3 |  |  | $ | 1,313.4 |  |  | $ | 2,328.7 |
Products transferred over time |  |  | 39.3 |  |  |  | 64.6 |  |  |  | 103.9 |
Net sales |  | $ | 1,054.6 |  |  | $ | 1,378.0 |  |  | $ | 2,432.6 |
|  | Year ended March 31, 2023 |
|  | Climate Solutions |  |  | Performance Technologies |  |  | Segment Total |
Product groups: |  |  |  |  |  |  |  |  |
Heat transfer |  | $ | 496.7 |  |  | $ | - |  |  | $ | 496.7 |
HVAC&R |  |  | 341.0 |  |  |  | - |  |  |  | 341.0 |
Data center cooling |  |  | 173.8 |  |  |  | - |  |  |  | 173.8 |
Air-cooled |  |  | - |  |  |  | 658.6 |  |  |  | 658.6 |
Liquid-cooled |  |  | - |  |  |  | 483.9 |  |  |  | 483.9 |
Advanced solutions |  |  | - |  |  |  | 143.9 |  |  |  | 143.9 |
Inter-segment sales |  |  | 0.4 |  |  |  | 29.8 |  |  |  | 30.2 |
Net sales |  | $ | 1,011.9 |  |  | $ | 1,316.2 |  |  | $ | 2,328.1 |
Geographic location: |  |  |  |  |  |  |  |  |  |  |  |
Americas |  | $ | 580.9 |  |  | $ | 702.0 |  |  | $ | 1,282.9 |
Europe |  |  | 406.0 |  |  |  | 408.5 |  |  |  | 814.5 |
Asia |  |  | 25.0 |  |  |  | 205.7 |  |  |  | 230.7 |
Net sales |  | $ | 1,011.9 |  |  | $ | 1,316.2 |  |  | $ | 2,328.1 |
Timing of revenue recognition: |  |  |  |  |  |  |  |  |  |  |  |
Products transferred at a point in time |  | $ | 959.8 |  |  | $ | 1,242.3 |  |  | $ | 2,202.1 |
Products transferred over time |  |  | 52.1 |  |  |  | 73.9 |  |  |  | 126.0 |
Net sales |  | $ | 1,011.9 |  |  | $ | 1,316.2 |  |  | $ | 2,328.1 |
|  | Year ended March 31, 2022 |
|  | Climate Solutions |  |  | Performance Technologies |  |  | Segment Total |
Product groups: |  |  |  |  |  |  |  |  |
Heat transfer |  | $ | 460.4 |  |  | $ | - |  |  | $ | 460.4 |
HVAC&R |  |  | 311.5 |  |  |  | - |  |  |  | 311.5 |
Data center cooling |  |  | 138.2 |  |  |  | - |  |  |  | 138.2 |
Air-cooled |  |  | - |  |  |  | 572.3 |  |  |  | 572.3 |
Liquid-cooled |  |  | - |  |  |  | 448.3 |  |  |  | 448.3 |
Advanced solutions |  |  | - |  |  |  | 119.4 |  |  |  | 119.4 |
Inter-segment sales |  |  | 0.4 |  |  |  | 32.4 |  |  |  | 32.8 |
Net sales |  | $ | 910.5 |  |  | $ | 1,172.4 |  |  | $ | 2,082.9 |
Geographic location: |  |  |  |  |  |  |  |  |  |  |  |
Americas |  | $ | 485.9 |  |  | $ | 585.6 |  |  | $ | 1,071.5 |
Europe |  |  | 396.7 |  |  |  | 375.7 |  |  |  | 772.4 |
Asia |  |  | 27.9 |  |  |  | 211.1 |  |  |  | 239.0 |
Net sales |  | $ | 910.5 |  |  | $ | 1,172.4 |  |  | $ | 2,082.9 |
Timing of revenue recognition: |  |  |  |  |  |  |  |  |  |  |  |
Products transferred at a point in time |  | $ | 889.3 |  |  | $ | 1,093.7 |  |  | $ | 1,983.0 |
Products transferred over time |  |  | 21.2 |  |  |  | 78.7 |  |  |  | 99.9 |
Net sales |  | $ | 910.5 |  |  | $ | 1,172.4 |  |  | $ | 2,082.9 |
Contract Assets and Contract Liabilities from Contracts with Customers | Contract assets and contract liabilities from contracts with customers were as follows:
|  | March 31, 2024 |  |  | March 31, 2023 |
Contract assets |  | $ | 12.9 |  |  | $ | 19.3 |
Contract liabilities |  |  | 79.4 |  |  |  | 21.5 |

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