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Business Segments
 12 Months Ended
Mar. 31, 2024
Segment Reporting [Abstract]  
Business Segments Business Segments
The Company's chief operating decision maker, or CODM (the Company's Chief Executive Officer), reviews financial information for purposes of assessing business performance and allocating resources, by focusing on the lines of business on a global basis. The Company identifies the following as its four operating segments, based on lines of business:

•Energy Systems - uninterruptible power systems, or “UPS” applications for computer and computer-controlled systems used in data centers, as well as telecommunications systems, switchgear and electrical control systems used in industrial facilities and electric utilities, large-scale energy storage and energy pipelines. Energy Systems also includes highly integrated power solutions and services to broadband, telecom, data center, and renewable and industrial customers, as well as thermally managed cabinets and enclosures for electronic equipment and batteries.
•Motive Power - power for electric industrial forklifts used in manufacturing, warehousing and other material handling
applications, AGVs, as well as mining equipment, diesel locomotive starting and other rail equipment.
•Specialty - premium batteries for starting, lighting and ignition applications in premium automotive and large over-the-road trucks, energy storage solutions for satellites, spacecraft, commercial aircraft, military land vehicles, aircraft,
submarines, ships and other tactical vehicles, as well as medical devices and equipment; and
•New Ventures - energy storage and management systems for demand charge reduction, utility back-up power, and dynamic fast charging for electric vehicles

The operating segments of Energy Systems, Motive Power, and Specialty also represent the Company's reportable segments under ASC 280, Segment Reporting. The results of New Ventures include start-up and operating expenses captured within the "Corporate and other" category of operating earnings.

Summarized financial information related to the Company’s reportable segments at March 31, 2024, 2023 and 2022 and for each of the fiscal years then ended is shown below.
 Fiscal year ended March 31,
 202420232022
Net sales by segment to unaffiliated customers
Energy Systems$1,590,023 $1,738,195 $1,536,673 
Motive Power1,456,181 1,451,244 1,361,254 
Specialty535,667 519,140 459,392 
Total net sales$3,581,871 $3,708,579 $3,357,319 
Operating earnings by segment
Energy Systems$86,955 $90,400 $48,875 
Motive Power214,650 179,972 172,396 
Specialty31,366 40,487 46,730 
Corporate and other (3)
117,260 17,283 — 
Inventory adjustment relating to exit activities - Energy Systems(17,075)211 (186)
Inventory adjustment relating to exit activities - Motive— (892)(2,418)
Inventory adjustment relating to exit activities - Specialty(3,098)— — 
Restructuring and other exit charges - Energy Systems(8,840)(1,441)(2,713)
Restructuring and other exit charges - Motive Power(11,697)(12,864)(17,059)
Restructuring and other exit charges - Specialty(7,566)(2,134)1,016 
Impairment of indefinite-lived intangibles - Energy Systems(13,619)(100)(501)
Impairment of indefinite-lived intangibles - Motive Power — — (677)
Impairment of indefinite-lived intangibles - Specialty— (380)— 
Loss on assets held for sale - Motive Power— — (2,973)
Total Amortization - Energy Systems(24,503)(27,383)(29,277)
Total Amortization - Motive Power(683)(441)(1,055)
Total Amortization - Specialty(2,808)(2,923)(2,962)
Legal proceedings charge, net - Energy Systems(3,705)— — 
Other - Energy Systems(3,740)(712)(1,628)
Other - Motive Power(1,032)(627)(1,040)
Other - Specialty(295)(95)(277)
Total operating earnings(2)
$351,570 $278,361 $206,251 
Capital Expenditures
Energy Systems$33,626 $37,249 $33,614 
Motive Power17,115 16,373 13,887 
Specialty35,596 35,150 26,540 
Other100 — — 
Total$86,437 $88,772 $74,041 
Depreciation and Amortization
Energy Systems$49,469 $52,034 $54,580 
Motive Power23,690 22,404 24,918 
Specialty18,762 16,715 16,380 
Other100 — — 
Total$92,021 $91,153 $95,878 
 
(1)Reportable segments do not record inter-segment revenues and accordingly there are none to report.
(2)The Company does not allocate interest expense or other (income) expense, net, to the reportable segments.
(3)     Corporate and other includes amounts managed on a company-wide basis and not directly allocated to any reportable segments, primarily relating to IRA production tax credits. Also, included are start-up costs for exploration of a new lithium plant as well as start-up operating expenses from the New Ventures operating segment.
The Company's property, plant and equipment by reportable segments as of March 31, 2024 and 2023 are as follows:

March 31, 2024March 31, 2023
Property, plant and equipment, net
Energy Systems$189,519 $199,414 
Motive Power145,395 142,301 
Specialty197,368 171,568 
Other 168 $— 
Total$532,450 $513,283 
The Company markets its products and services in over 100 countries. Sales are attributed to countries based on the location of sales order approval and acceptance. Sales to customers in the United States were 60.2%, 63.4% and 60.7% for fiscal years ended March 31, 2024, 2023 and 2022, respectively. Property, plant and equipment, net, attributable to the United States as of March 31, 2024 and 2023, were $357,416 and $336,970, respectively. No single country, outside the United States, accounted for more than 10% of the consolidated net sales or net property, plant and equipment and, therefore, was deemed not material for separate disclosure.