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Business Segments Business Segments (Tables)

9 Months Ended

Jan. 03, 2021

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 January 3, 2021 and December 29, 2019, is shown below:

						Quarter ended												Nine months ended
						January 3, 2021						December 29, 2019						January 3, 2021						December 29, 2019
Net sales by segment to unaffiliated customers
Energy Systems						$	337,248					$	345,507					$	1,031,457					$	1,042,325
Motive Power						304,373						315,517						830,945						995,219
Specialty						109,446						102,674						301,991						268,521
Total net sales						$	751,067					$	763,698					$	2,164,393					$	2,306,065
Operating earnings by segment
Energy Systems						$	18,407					$	16,293					$	63,489					$	60,337
Motive Power						40,270						30,894						91,695						102,523
Specialty						12,590						9,159						29,224						29,186
Inventory step up to fair value relating to acquisitions - Energy Systems						—						(1,636)						—						(1,636)
Inventory step up to fair value relating to acquisitions - Specialty						—						(2,209)						—						(2,209)
Restructuring charges - Energy Systems						(868)						(4,594)						(2,711)						(6,326)
Restructuring and other exit charges - Motive Power						(14,348)						(520)						(16,791)						(1,512)
Restructuring and other exit charges - Specialty						20						(4,303)						(200)						(4,792)
Fixed asset write-off relating to exit activities and other - Energy Systems						—						—						—						(50)
Fixed asset write-off relating to exit activities and other - Motive Power						—						—						—						(5,380)
Fixed asset write-off relating to exit activities - Specialty						—						—						—						(11)
Total operating earnings (1)						$	56,071					$	43,084					$	164,706					$	170,130

(1) The Company does not allocate interest expense or other (income) expense to the reportable segments.

(2) The Company does not identify or allocate assets by reportable segment, nor does the CODM evaluate reportable segments using discrete asset information.

(3) Reportable segments do not record inter-segment revenues and accordingly there are none to report.

						Energy Systems						Motive Power						Specialty						Total
Balance at March 31, 2020						$	263,150					$	308,497					$	92,289					$	663,936
Measurement period adjustments						1,348						—						1,648						2,996
Foreign currency translation adjustment						15,349						19,993						4,897						40,239
Balance as of January 3, 2021						$	279,847					$	328,490					$	98,834					$	707,171

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- Definition

Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-URI http://asc.fasb.org/extlink&oid=115929826&loc=d3e8736-108599

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
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-URI http://asc.fasb.org/extlink&oid=115929826&loc=d3e8813-108599

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
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-URI http://asc.fasb.org/extlink&oid=108376223&loc=d3e13816-109267

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
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-Paragraph 21
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Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-URI http://asc.fasb.org/extlink&oid=115929826&loc=d3e8906-108599

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