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Revenue Recognition (Tables)

12 Months Ended

Mar. 31, 2025

Revenue Recognition.

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 and by geographic location.

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 22 for additional segment financial information. The disaggregated revenue information presented in the tables below for fiscal 2024 and 2023 has been recast to be comparable with the fiscal 2025 presentation.

​	​	​	​	​	​	​	​	​	​
​	​	Year ended March 31, 2025
​		Climate			Performance			Segment
​	​	Solutions		​	Technologies		​	Total
Product groups:		​			​			​
Data center cooling	​	$	644.2	​	$	—	​	$	644.2
Heat transfer	​	​	402.9	​	​	—	​	​	402.9
HVAC&R	​		393.5	​		—	​		393.5
Air-cooled	​		—	​		609.0	​		609.0
Liquid-cooled	​		—	​		404.5	​		404.5
Advanced solutions	​		—	​		129.4	​		129.4
Inter-segment sales	​		0.2	​		20.6	​		20.8
Net sales	​	$	1,440.8	​	$	1,163.5	​	$	2,604.3
​	​	​	​	​	​	​	​	​	​
Geographic location:	​			​			​
Americas	​	$	997.8	​	$	695.6	​	$	1,693.4
Europe	​		415.8	​		295.9	​		711.7
Asia	​		27.2	​		172.0	​		199.2
Net sales	​	$	1,440.8	​	$	1,163.5	​	$	2,604.3

​

​	​	​	​	​	​	​	​	​	​
​		Year ended March 31, 2024
​		Climate			Performance			Segment
​	​	Solutions		​	Technologies		​	Total
Product groups:	​	​		​	​		​	​
Data center cooling	​	$	294.2	​	$	—	​	$	294.2
Heat transfer	​	​	473.4	​	​	—	​	​	473.4
HVAC&R	​		340.5	​		—	​		340.5
Air-cooled	​		—	​		681.2	​		681.2
Liquid-cooled	​		—	​		491.6	​		491.6
Advanced solutions	​		—	​		126.9	​		126.9
Inter-segment sales	​		—	​		21.6	​		21.6
Net sales	​	$	1,108.1	​	$	1,321.3	​	$	2,429.4
​	​	​	​	​	​	​	​	​	​
Geographic location:	​			​			​
Americas	​	$	649.0	​	$	721.0	​	$	1,370.0
Europe	​		432.7	​		406.8	​		839.5
Asia	​		26.4	​		193.5	​		219.9
Net sales	​	$	1,108.1	​	$	1,321.3	​	$	2,429.4

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​	​	​	​	​	​	​	​	​	​
​		Year ended March 31, 2023
​		Climate			Performance			Segment
​	​	Solutions		​	Technologies		​	Total
Product groups:	​	​			​			​
Data center cooling	​	$	173.8	​	$	—	​	$	173.8
Heat transfer	​	​	541.3	​	​	—	​	​	541.3
HVAC&R	​		341.0	​		—	​		341.0
Air-cooled	​		—	​		658.6	​		658.6
Liquid-cooled	​		—	​		483.9	​		483.9
Advanced solutions	​		—	​		99.3	​		99.3
Inter-segment sales	​		0.6	​		25.7	​		26.3
Net sales	​	$	1,056.7	​	$	1,267.5	​	$	2,324.2
​	​	​	​	​	​	​	​	​	​
Geographic location:	​			​			​
Americas	​	$	615.4	​	$	664.6	​	$	1,280.0
Europe	​		416.3	​		397.2	​		813.5
Asia	​		25.0	​		205.7	​		230.7
Net sales	​	$	1,056.7	​	$	1,267.5	​	$	2,324.2

Contract Assets and Contract Liabilities from Contracts with Customers

Contract assets and contract liabilities from contracts with customers were as follows:

​	​	​	​	​	​	​
​		March 31, 2025			March 31, 2024
Contract assets	​	$	13.3	​	$	12.9
Contract liabilities	​		35.1	​		79.4

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