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Revenue Recognition (Tables) | 3 Months Ended
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Jun. 30, 2024
Revenue Recognition [Abstract] |
Disaggregation of Revenue | The tables below present revenue for each of the Company’s operating segments. Each segment’s revenue is disaggregated by product group, by geographic location and based upon the timing of revenue recognition. Effective April 1, 2024, the Company moved its Coatings business, which was previously managed by and reported within the Performance Technologies segment, under the leadership of the Climate Solutions segment. See Note 20 for additional segment financial information. The disaggregated revenue information presented in the table below for fiscal 2024 has been recast to be comparable with the fiscal 2025 presentation.
|  | Three months ended June 30, 2024 |  |  | Three months ended June 30, 2023 |
|  | Climate Solutions |  |  | Performance Technologies |  |  | Segment Total |  |  | Climate Solutions |  |  | Performance Technologies |  |  | Segment Total |
Product groups: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Data center cooling |  | $ | 162.6 |  |  | $ | - |  |  | $ | 162.6 |  |  | $ | 68.2 |  |  | $ | - |  |  | $ | 68.2 |
Heat transfer |  |  | 111.8 |  |  |  | - |  |  |  | 111.8 |  |  |  | 140.8 |  |  |  | - |  |  |  | 140.8 |
HVAC&R |  |  | 82.8 |  |  |  | - |  |  |  | 82.8 |  |  |  | 77.7 |  |  |  | - |  |  |  | 77.7 |
Air-cooled |  |  | - |  |  |  | 168.6 |  |  |  | 168.6 |  |  |  | - |  |  |  | 172.7 |  |  |  | 172.7 |
Liquid-cooled |  |  | - |  |  |  | 104.0 |  |  |  | 104.0 |  |  |  | - |  |  |  | 134.7 |  |  |  | 134.7 |
Advanced solutions |  |  | - |  |  |  | 31.7 |  |  |  | 31.7 |  |  |  | - |  |  |  | 28.3 |  |  |  | 28.3 |
Inter-segment sales |  |  | 0.1 |  |  |  | 4.7 |  |  |  | 4.8 |  |  |  | - |  |  |  | 7.4 |  |  |  | 7.4 |
Net sales |  | $ | 357.3 |  |  | $ | 309.0 |  |  | $ | 666.3 |  |  | $ | 286.7 |  |  | $ | 343.1 |  |  | $ | 629.8 |
Geographic location: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Americas |  | $ | 240.0 |  |  | $ | 184.7 |  |  | $ | 424.7 |  |  | $ | 153.3 |  |  | $ | 172.7 |  |  | $ | 326.0 |
Europe |  |  | 111.5 |  |  |  | 80.1 |  |  |  | 191.6 |  |  |  | 126.9 |  |  |  | 120.0 |  |  |  | 246.9 |
Asia |  |  | 5.8 |  |  |  | 44.2 |  |  |  | 50.0 |  |  |  | 6.5 |  |  |  | 50.4 |  |  |  | 56.9 |
Net sales |  | $ | 357.3 |  |  | $ | 309.0 |  |  | $ | 666.3 |  |  | $ | 286.7 |  |  | $ | 343.1 |  |  | $ | 629.8 |
Timing of revenue recognition: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Products transferred at a point in time |  | $ | 340.7 |  |  | $ | 305.8 |  |  | $ | 646.5 |  |  | $ | 258.2 |  |  | $ | 340.0 |  |  | $ | 598.2 |
Products transferred over time |  |  | 16.6 |  |  |  | 3.2 |  |  |  | 19.8 |  |  |  | 28.5 |  |  |  | 3.1 |  |  |  | 31.6 |
Net sales |  | $ | 357.3 |  |  | $ | 309.0 |  |  | $ | 666.3 |  |  | $ | 286.7 |  |  | $ | 343.1 |  |  | $ | 629.8 |
Contract Assets and Contract Liabilities from Contracts with Customers | Contract assets and contract liabilities from contracts with customers were as follows:
|  | June 30, 2024 |  |  | March 31, 2024 |
Contract assets |  | $ | 10.8 |  |  | $ | 12.9 |
Contract liabilities |  |  | 66.4 |  |  |  | 79.4 |

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