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Business Segment Information | 12 Months Ended
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Mar. 31, 2021
Segment Reporting [Abstract] |
Business Segment Reporting | Business Segment Information ASC Topic 280, “Segment Reporting,” establishes the standards for reporting information about operating segments in financial statements. The Company has one operating and reportable segment for both internal and external reporting purposes. Financial information relating to the Company’s operations by geographic area is as follows:
|  | Year Ended March 31,
|  | 2021 |  | 2020 |  | 2019
Net sales: |  |  |  |  |  |
United States |  | $ | 348,986 |  |  | $ | 450,242 |  |  | $ | 485,969 |
Germany |  | 164,380 |  |  | 175,492 |  |  | 196,055 |
Europe, Middle East, and Africa (Excluding Germany) |  | 90,415 |  |  | 121,600 |  |  | 127,453 |
Canada |  | 15,443 |  |  | 21,984 |  |  | 22,206 |
Asia Pacific |  | 13,829 |  |  | 14,193 |  |  | 17,749 |
Latin America |  | 16,589 |  |  | 25,651 |  |  | 26,850 |
Total |  | $ | 649,642 |  |  | $ | 809,162 |  |  | $ | 876,282 |
Note: Net sales to external customers are attributed to geographic areas based upon the location from which the product was shipped from the Company to the customer.
|  | Year Ended March 31,
|  | 2021 |  | 2020 |  | 2019
Total assets: |  |  |  |  |  |
United States |  | $ | 540,184 |  |  | $ | 518,914 |  |  | $ | 496,580 |
Germany |  | 435,638 |  |  | 438,210 |  |  | 429,859 |
Europe, Middle East, and Africa (Excluding Germany) |  | 125,262 |  |  | 86,638 |  |  | 85,680 |
Canada |  | 8,647 |  |  | 9,979 |  |  | 8,688 |
Asia Pacific |  | 19,326 |  |  | 20,314 |  |  | 22,129 |
Latin America |  | 21,375 |  |  | 19,217 |  |  | 18,635 |
Total |  | $ | 1,150,432 |  |  | $ | 1,093,272 |  |  | $ | 1,061,571 |
|  | Year Ended March 31,
|  | 2021 |  | 2020 |  | 2019
Long-lived assets: |  |  |  |  |  |
United States |  | $ | 269,061 |  |  | $ | 272,816 |  |  | $ | 282,456 |
Germany |  | 336,606 |  |  | 327,420 |  |  | 342,150 |
Europe, Middle East, and Africa |  | 8,359 |  |  | 9,561 |  |  | 10,163 |
Canada |  | 1,395 |  |  | 1,192 |  |  | 1,319 |
Asia Pacific |  | 2,235 |  |  | 4,928 |  |  | 5,781 |
Latin America |  | 1,635 |  |  | 1,197 |  |  | 1,190 |
Total |  | $ | 619,291 |  |  | $ | 617,114 |  |  | $ | 643,059 |
Note: Long-lived assets include net property, plant, and equipment, goodwill, and other intangibles, net.
Sales by major product group are as follows: |  | Year Ended March 31,
|  | 2021 |  | 2020 |  | 2019
Hoists |  | $ | 394,682 |  |  | $ | 492,126 |  |  | $ | 518,806 |
Chain and rigging tools |  | 47,557 |  |  | 68,666 |  |  | 89,215 |
Industrial cranes |  | 37,025 |  |  | 44,149 |  |  | 59,085 |
Actuators and rotary unions |  | 75,458 |  |  | 77,957 |  |  | 77,719 |
Digital power control and delivery systems |  | 74,943 |  |  | 100,658 |  |  | 98,187 |
Elevator application drive systems |  | 19,977 |  |  | 25,606 |  |  | 25,548 |
Other |  | — |  |  | — |  |  | 7,722 |
Total |  | $ | 649,642 |  |  | $ | 809,162 |  |  | $ | 876,282 |
The prior year sales by major product group amounts have been reclassified to be consistent with the current period presentation. On December 28, 2018, the Company sold its Tire Shredder business, and on February 28, 2019, the Company sold Crane Equipment and Service Inc. and Stahlhammer Bommern GmbH. In fiscal year 2019, these businesses accounted for chain and rigging tools sales of $12,289,000, industrial cranes sales of $14,184,000, and other sales of $7,722,000.

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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8924-108599 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 34 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8981-108599 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8721-108599 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 40 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9031-108599 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (f) -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (e) -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 26 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8844-108599 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9038-108599 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8736-108599 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 42 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9054-108599 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 15 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8657-108599 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8721-108599 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -URI http://asc.fasb.org/topic&trid=2134510 + Details
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