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Business Segment Information | 12 Months Ended
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Mar. 31, 2024
Segment Reporting [Abstract] |
Business Segment Information | 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,
|  | 2024 |  | 2023 |  | 2022
Net sales: |  |  |  |  |  |
United States |  | $ | 591,497 |  |  | $ | 595,363 |  |  | $ | 548,620 |
Germany |  | 233,797 |  |  | 175,294 |  |  | 188,134 |
Europe, Middle East, and Africa (Excluding Germany) |  | 112,839 |  |  | 97,597 |  |  | 108,678 |
Canada |  | 21,431 |  |  | 18,883 |  |  | 16,719 |
Asia Pacific |  | 17,877 |  |  | 16,720 |  |  | 17,680 |
Latin America |  | 36,099 |  |  | 32,383 |  |  | 26,724 |
Total |  | $ | 1,013,540 |  |  | $ | 936,240 |  |  | $ | 906,555 |
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,
|  | 2024 |  | 2023 |  | 2022
Total assets: |  |  |  |  |  |
United States |  | $ | 1,129,237 |  |  | $ | 1,127,321 |  |  | $ | 1,105,956 |
Germany |  | 553,103 |  |  | 417,167 |  |  | 422,671 |
Europe, Middle East, and Africa (Excluding Germany) |  | 90,921 |  |  | 81,413 |  |  | 85,678 |
Canada |  | 9,606 |  |  | 12,668 |  |  | 15,651 |
Asia Pacific |  | 14,094 |  |  | 16,063 |  |  | 18,575 |
Latin America |  | 28,984 |  |  | 43,823 |  |  | 37,176 |
Total |  | $ | 1,825,945 |  |  | $ | 1,698,455 |  |  | $ | 1,685,707 |
|  | Year Ended March 31,
|  | 2024 |  | 2023 |  | 2022
Long-lived assets: |  |  |  |  |  |
United States |  | $ | 781,232 |  |  | $ | 791,835 |  |  | $ | 811,276 |
Germany |  | 407,136 |  |  | 295,233 |  |  | 312,288 |
Europe, Middle East, and Africa (Excluding Germany) |  | 8,156 |  |  | 8,254 |  |  | 7,416 |
Canada |  | 1,190 |  |  | 1,267 |  |  | 1,446 |
Asia Pacific |  | 2,058 |  |  | 2,207 |  |  | 2,574 |
Latin America |  | 2,591 |  |  | 2,730 |  |  | 2,563 |
Total |  | $ | 1,202,363 |  |  | $ | 1,101,526 |  |  | $ | 1,137,563 |
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,
|  | 2024 |  | 2023 |  | 2022
Hoists |  | $ | 494,726 |  |  | $ | 456,300 |  |  | $ | 432,524 |
High Precision Conveyors |  | 163,462 |  |  | 149,586 |  |  | 144,587 |
Chain and rigging tools |  | 74,075 |  |  | 76,990 |  |  | 83,461 |
Industrial cranes |  | 39,520 |  |  | 38,369 |  |  | 43,482 |
Actuators and rotary unions |  | 97,303 |  |  | 84,663 |  |  | 84,999 |
Digital power control and delivery systems |  | 122,344 |  |  | 102,962 |  |  | 98,445 |
Elevator application drive systems |  | 22,110 |  |  | 27,370 |  |  | 19,057 |
Total |  | $ | 1,013,540 |  |  | $ | 936,240 |  |  | $ | 906,555 |

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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 -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-22 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-15 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 31 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-31 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 42 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-42 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (f) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 40 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-40 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//280/tableOfContent Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 26 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-26 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 34 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-34 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 41 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-41 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-21 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-21 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32 + Details
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