XML 88 R37.htm IDEA: XBRL DOCUMENT v3.19.3.a.u2
Business Segments Business Segments (Tables)
9 Months Ended
Dec. 31, 2019
Segment Reporting [Abstract]  
Selected Financial Data for Reportable Business Segments and Product Lines
Summarized financial information related to the Company's reportable segments for the third quarter and nine months ended December 29, 2019 and December 30, 2018, is shown below:
 
 
Quarter ended
 
Nine months ended
 
 
December 29, 2019
 
December 30, 2018
 
December 29, 2019
 
December 30, 2018
Net sales by segment to unaffiliated customers
 
 
 
 
 
 
 
 
Americas
 
$
503,061

 
$
401,999

 
$
1,545,110

 
$
1,183,147

EMEA
 
202,278

 
217,792

 
588,279

 
632,283

Asia
 
58,359

 
60,231

 
172,676

 
195,984

Total net sales
 
$
763,698

 
$
680,022

 
$
2,306,065

 
$
2,011,414

Net sales by product line
 
 
 
 
 
 
 
 
Reserve power
 
$
448,181

 
$
329,478

 
$
1,310,846

 
$
966,834

Motive power
 
315,517

 
350,544

 
995,219

 
1,044,580

Total net sales
 
$
763,698

 
$
680,022

 
$
2,306,065

 
$
2,011,414

Intersegment sales
 
 
 
 
 
 
 
 
Americas
 
$
13,022

 
$
7,208

 
$
30,450

 
$
20,954

EMEA
 
40,236

 
26,354

 
114,959

 
93,480

Asia
 
5,575

 
12,823

 
17,617

 
28,492

Total intersegment sales (1)
 
$
58,833

 
$
46,385

 
$
163,026

 
$
142,926

Operating earnings by segment
 
 
 
 
 
 
 
 
Americas
 
$
43,081

 
$
37,961

 
$
149,574

 
$
134,003

EMEA
 
12,608

 
17,659

 
41,614

 
48,691

Asia
 
657

 
627

 
858

 
4,475

Inventory step up to fair value relating to acquisitions - Americas
 
(2,475
)
 
(3,747
)
 
(2,475
)
 
(3,747
)
Inventory step up to fair value relating to acquisition - EMEA
 
(1,370
)
 

 
(1,370
)
 

Restructuring charges - Americas
 
(1,322
)
 
(628
)
 
(2,448
)
 
(628
)
Restructuring and other exit charges - EMEA
 
(7,706
)
 
(4,411
)
 
(9,032
)
 
(6,610
)
Restructuring charges - Asia
 
(389
)
 
(353
)
 
(1,150
)
 
(1,014
)
Inventory adjustment relating to exit activities - Asia
 

 

 

 
(526
)
Fixed asset write-off relating to exit activities and other - Americas
 

 

 
(5,441
)
 

Legal proceedings settlement income
 

 
2,843

 

 
2,843

Total operating earnings (2)
 
$
43,084

 
$
49,951

 
$
170,130

 
$
177,487


(1) Intersegment sales are presented on a cost-plus basis, which takes into consideration the effect of transfer prices between legal entities.
(2) The Company does not allocate interest expense or other (income) expense to the reportable segments.

fiscal 2020 are as follows:
 
 
Americas
 
EMEA
 
Asia
 
Total
Balance at March 31, 2019
 
$
470,194

 
$
143,269

 
$
42,936

 
$
656,399

Goodwill acquired during the period - NorthStar
 
17,398

 
5,844

 

 
23,242

Purchase accounting adjustment - Alpha
 
(1,390
)
 

 

 
(1,390
)
Foreign currency translation adjustment
 
3,784

 
(2,981
)
 
(3
)
 
800

Balance as of December 29, 2019
 
$
489,986

 
$
146,132

 
$
42,933

 
$
679,051