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Acquisitions and Dispositions (Tables) | 12 Months Ended
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Mar. 31, 2024
Scott Springfield Manufacturing [Member] |
Acquisitions and Dispositions [Abstract] |
Allocation of Purchase Price | The Company has preliminarily allocated the purchase price of Scott Springfield Manufacturing to the identifiable tangible and intangible assets acquired and the liabilities assumed based upon their estimated fair values as of the acquisition date, as follows:
Cash and cash equivalents |  | $ | 0.3 |
Trade accounts receivable |  |  | 27.5 |
Inventories |  |  | 20.9 |
Property, plant and equipment |  |  | 6.0 |
Intangible assets |  |  | 102.3 |
Goodwill |  |  | 65.2 |
Other assets |  |  | 4.0 |
Accounts payable |  |  | (8.6 | )
Accrued compensation and employee benefits |  |  | (1.3 | )
Deferred income taxes |  |  | (24.4 | )
Other liabilities |  |  | (7.8 | )
Purchase price |  | $ | 184.1 |
Acquired Intangible Assets | Acquired intangible assets were as follows:
|  | Gross |  | Weighted- |
|  | Carrying |  | Average |
|  | Value |  | Useful Life |
Customer relationships |  | $ | 66.9 |  | 12 years |
Order backlog |  |  | 22.6 |  | 1 year |
Trade name |  |  | 12.8 |  | 10 years |
Total intangible assets acquired |  | $ | 102.3 |  |  |
Unaudited Supplemental Pro Forma Information | The following unaudited supplemental pro forma information presents the Company’s consolidated results of operations as though the acquisition of Scott Springfield Manufacturing had occurred at the beginning of fiscal 2023. This pro forma financial information is presented for illustrative purposes only and is not considered to be indicative of the operating results that would have been achieved had the acquisition been completed as of the date indicated or the operating results that may be obtained in the future.
|  | Years ended March 31, |
|  | 2024 |  |  | 2023 |
Net sales |  | $ | 2,507.5 |  |  | $ | 2,346.2 |
Net earnings attributable to Modine |  |  | 164.3 |  |  |  | 126.3 |
Napps Technology Corporation [Member] |
Acquisitions and Dispositions [Abstract] |
Allocation of Purchase Price | The Company’s allocation of the purchase price was as follows:
Trade accounts receivable |  | $ | 1.2 |
Inventories |  |  | 1.3 |
Property, plant and equipment and other assets |  |  | 0.1 |
Intangible assets |  |  | 2.9 |
Goodwill |  |  | 1.0 |
Accounts payable and other liabilities |  |  | (0.7 | )
Purchase price |  | $ | 5.8 |

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