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Business Segment Information | 12 Months Ended
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Mar. 31, 2025
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. The Company’s Chief Executive Officer (“CEO”), who is its chief operating decision maker (“CODM”), evaluates the performance of the Company’s operating segment based on Income from operations. The CODM reviews budget-to-actual variances and year over year performance when making operating decisions to allocate resources to the segment. The significant segment expenses that are regularly provided on a quarterly basis to CODM are cost of products sold, research and development expenses, selling expenses, general and administrative expenses and amortization of intangibles, which are presented on the face of the Consolidated Statements of Operations and included in the calculation of Operating Income. Financial information relating to the Company’s operations by geographic area is as follows:
|  | Year Ended March 31,
|  | 2025 |  | 2024 |  | 2023
Net sales: |  |  |  |  |  |
United States |  | $ | 556,972 |  |  | $ | 591,497 |  |  | $ | 595,363 |
Germany |  | 217,189 |  |  | 233,797 |  |  | 175,294 |
Europe, Middle East, and Africa (Excluding Germany) |  | 116,749 |  |  | 112,839 |  |  | 97,597 |
Canada |  | 17,479 |  |  | 21,431 |  |  | 18,883 |
Asia Pacific |  | 22,173 |  |  | 17,877 |  |  | 16,720 |
Latin America |  | 32,465 |  |  | 36,099 |  |  | 32,383 |
Total |  | $ | 963,027 |  |  | $ | 1,013,540 |  |  | $ | 936,240 |
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,
|  | 2025 |  | 2024 |  | 2023
Total assets: |  |  |  |  |  |
United States |  | $ | 1,079,209 |  |  | $ | 1,129,237 |  |  | $ | 1,127,321 |
Germany |  | 540,515 |  |  | 553,103 |  |  | 417,167 |
Europe, Middle East, and Africa (Excluding Germany) |  | 76,831 |  |  | 90,921 |  |  | 81,413 |
Canada |  | 6,811 |  |  | 9,606 |  |  | 12,668 |
Asia Pacific |  | 11,821 |  |  | 14,094 |  |  | 16,063 |
Latin America |  | 23,601 |  |  | 28,984 |  |  | 43,823 |
Total |  | $ | 1,738,788 |  |  | $ | 1,825,945 |  |  | $ | 1,698,455 |
|  | Year Ended March 31,
|  | 2025 |  | 2024 |  | 2023
Long-lived assets: |  |  |  |  |  |
United States |  | $ | 762,328 |  |  | $ | 781,232 |  |  | $ | 791,835 |
Germany |  | 398,188 |  |  | 407,136 |  |  | 295,233 |
Europe, Middle East, and Africa (Excluding Germany) |  | 8,625 |  |  | 8,156 |  |  | 8,254 |
Canada |  | 1,071 |  |  | 1,190 |  |  | 1,267 |
Asia Pacific |  | 1,854 |  |  | 2,058 |  |  | 2,207 |
Latin America |  | 1,467 |  |  | 2,591 |  |  | 2,730 |
Total |  | $ | 1,173,533 |  |  | $ | 1,202,363 |  |  | $ | 1,101,526 |
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,
|  | 2025 |  | 2024 |  | 2023
Hoists |  | $ | 479,612 |  |  | $ | 494,726 |  |  | $ | 456,300 |
High Precision Conveyors |  | 154,660 |  |  | 163,462 |  |  | 149,586 |
Chain and rigging tools |  | 76,072 |  |  | 74,075 |  |  | 76,990 |
Industrial cranes |  | 37,113 |  |  | 39,520 |  |  | 38,369 |
Actuators and rotary unions |  | 87,735 |  |  | 97,303 |  |  | 84,663 |
Digital power control and delivery systems |  | 110,379 |  |  | 122,344 |  |  | 102,962 |
Elevator application drive systems |  | 17,456 |  |  | 22,110 |  |  | 27,370 |
Total |  | $ | 963,027 |  |  | $ | 1,013,540 |  |  | $ | 936,240 |

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- Definition The entire disclosure for reporting segments including data and tables. 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