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Revenue Recognition (Tables)

9 Months Ended

Dec. 31, 2024

Revenue Recognition

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 tables below for fiscal 2024 has been recast to be comparable with the fiscal 2025 presentation.


		Three months ended December 31, 2024									Three months ended December 31, 2023
		Climate			Performance			Segment			Climate			Performance			Segment
		Solutions			Technologies			Total			Solutions			Technologies			Total
Product groups:
Data center cooling		$	166.9		$	—		$	166.9		$	60.5		$	—		$	60.5
Heat transfer			88.1			—			88.1			101.5			—			101.5
HVAC&R			105.7			—			105.7			92.0			—			92.0
Air-cooled			—			133.9			133.9			—			162.0			162.0
Liquid-cooled			—			91.3			91.3			—			112.1			112.1
Advanced solutions			—			30.9			30.9			—			33.3			33.3
Inter-segment sales			0.1			6.1			6.2			—			3.5			3.5
Net sales		$	360.8		$	262.2		$	623.0		$	254.0		$	310.9		$	564.9

Geographic location:
Americas		$	255.5		$	160.2		$	415.7		$	153.5		$	176.2		$	329.7
Europe			97.9			62.1			160.0			92.3			86.5			178.8
Asia			7.4			39.9			47.3			8.2			48.2			56.4
Net sales		$	360.8		$	262.2		$	623.0		$	254.0		$	310.9		$	564.9

Timing of revenue recognition:
Products transferred at a point in time		$	333.5		$	260.1		$	593.6		$	233.7		$	308.1		$	541.8
Products transferred over time			27.3			2.1			29.4			20.3			2.8			23.1
Net sales		$	360.8		$	262.2		$	623.0		$	254.0		$	310.9		$	564.9


		Nine months ended December 31, 2024									Nine months ended December 31, 2023
		Climate			Performance			Segment			Climate			Performance			Segment
		Solutions			Technologies			Total			Solutions			Technologies			Total
Product groups:
Data center cooling		$	488.4		$	—		$	488.4		$	207.5		$	—		$	207.5
Heat transfer			303.3			—			303.3			361.5			—			361.5
HVAC&R			292.6			—			292.6			260.9			—			260.9
Air-cooled			—			457.7			457.7			—			508.0			508.0
Liquid-cooled			—			294.4			294.4			—			373.2			373.2
Advanced solutions			—			99.9			99.9			—			93.2			93.2
Inter-segment sales			0.2			16.7			16.9			—			16.9			16.9
Net sales		$	1,084.5		$	868.7		$	1,953.2		$	829.9		$	991.3		$	1,821.2

Geographic location:
Americas		$	748.1		$	527.6		$	1,275.7		$	480.9		$	527.3		$	1,008.2
Europe			315.3			214.7			530.0			328.3			316.5			644.8
Asia			21.1			126.4			147.5			20.7			147.5			168.2
Net sales		$	1,084.5		$	868.7		$	1,953.2		$	829.9		$	991.3		$	1,821.2

Timing of revenue recognition:
Products transferred at a point in time		$	1,025.1		$	860.5		$	1,885.6		$	763.5		$	981.8		$	1,745.3
Products transferred over time			59.4			8.2			67.6			66.4			9.5			75.9
Net sales		$	1,084.5		$	868.7		$	1,953.2		$	829.9		$	991.3		$	1,821.2

Contract Assets and Contract Liabilities from Contracts with Customers

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


		December 31, 2024			March 31, 2024
Contract assets		$	11.3		$	12.9
Contract liabilities			44.1			79.4