Business Segments (Tables)

12 Months Ended

Mar. 31, 2024

Summary Of Financial Information Related To The Company's Business Segments

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,
	2024		2023		2022
Net sales by segment to unaffiliated customers
Energy Systems	$	1,590,023	$	1,738,195	$	1,536,673
Motive Power	1,456,181		1,451,244		1,361,254
Specialty	535,667		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 Power	214,650		179,972		172,396
Specialty	31,366		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 Power	17,115		16,373		13,887
Specialty	35,596		35,150		26,540
Other	100		—		—
Total	$	86,437	$	88,772	$	74,041

Depreciation and Amortization
Energy Systems	$	49,469	$	52,034	$	54,580
Motive Power	23,690		22,404		24,918
Specialty	18,762		16,715		16,380
Other	100		—		—
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, 2024		March 31, 2023
Property, plant and equipment, net
Energy Systems	$	189,519	$	199,414
Motive Power	145,395		142,301
Specialty	197,368		171,568
Other	168		$	—
Total	$	532,450	$	513,283