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Goodwill and Intangible Assets | 9 Months Ended
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Dec. 31, 2024
Goodwill and Intangible Assets |
Goodwill and Intangible Assets | Note 14: Goodwill and Intangible Assets During the first quarter of fiscal 2025, the Company recorded a measurement period adjustment to reduce the fair value of the acquired Scott Springfield Manufacturing trade name by $9.6 million. This purchase accounting adjustment resulted in a $7.4 million increase in goodwill. See Note 2 for additional information. As a result of the segment realignment during the first quarter of fiscal 2025, the Company’s goodwill now resides entirely within the Climate Solutions segment. The following table presents a roll forward of the carrying value of goodwill from March 31, 2024 to December 31, 2024. ​
​ | ​ | ​ | ​
​ |  | Climate Solutions
Goodwill, March 31, 2024 | ​ | $ | 230.9
Acquisition adjustment | ​ |  | 7.4
Effect of exchange rate changes | ​ |  | (5.7)
Goodwill, December 31, 2024 | ​ | $ | 232.6
​ Intangible assets consisted of the following: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | December 31, 2024 | ​ | March 31, 2024
​ |  | Gross |  | ​ | ​ |  | Net |  | Gross |  |  | ​ |  | Net
​ | ​ | Carrying | ​ | Accumulated | ​ | Intangible | ​ | Carrying | ​ | Accumulated | ​ | Intangible
​ | ​ | Value | ​ | Amortization | ​ | Assets | ​ | Value | ​ | Amortization | ​ | Assets
Customer relationships | ​ | $ | 144.3 | ​ | $ | (41.7) | ​ | $ | 102.6 | ​ | $ | 150.5 | ​ | $ | (26.3) | ​ | $ | 124.2
Trade names | ​ |  | 52.5 | ​ |  | (20.3) | ​ |  | 32.2 | ​ |  | 62.8 | ​ |  | (18.5) | ​ |  | 44.3
Acquired technology | ​ |  | 32.1 | ​ |  | (14.6) | ​ |  | 17.5 | ​ |  | 32.5 | ​ |  | (12.7) | ​ |  | 19.8
Total intangible assets | ​ | $ | 228.9 | ​ | $ | (76.6) | ​ | $ | 152.3 | ​ | $ | 245.8 | ​ | $ | (57.5) | ​ | $ | 188.3
​ ​ ​ ​ ​ The Company recorded amortization expense of $6.9 million and $2.1 million for the three months ended December 31, 2024 and 2023, respectively. The Company recorded amortization expense of $20.7 million and $6.1 million for the nine months ended December 31, 2024 and 2023, respectively. The Company estimates that it will record approximately $7.0 million of amortization expense during the remainder of fiscal 2025. The Company estimates that it will record approximately $17.0 million, $15.0 million, $15.0 million, $15.0 million, and $13.0 million of annual amortization expense in fiscal 2026 through 2030, respectively.

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- Definition The entire disclosure for goodwill and intangible assets. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 30 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/350-30/tableOfContent Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/350-20/tableOfContent + Details
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