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Segment Information | 9 Months Ended
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Dec. 31, 2012
Segment Information [Abstract] |
Segment Information | 14. Segment Information The Company has two reportable segments, the rotating electrical segment and the undercar product line segment, based on the way the Company manages, evaluates and internally reports its business activities. The rotating electrical segment is comprised of the Company's alternator and starter business. This segment remanufactures, produces, and distributes alternators and starters for import and domestic cars, light trucks, heavy duty, agricultural and industrial applications. These replacement parts are sold for use on vehicles after initial vehicle purchase. The undercar product line segment manufactures, remanufactures and distributes new and remanufactured aftermarket auto parts, including steering components, brake calipers, master cylinders, hub assembly and bearings, for virtually all passenger and truck vehicles. The Company's products are sold to automotive retail chain stores, warehouse distributors, and to major automobile manufacturers throughout North America. During the third quarter of fiscal 2013, the Company discontinued supplying its products to a major non-profitable customer of the undercar product line segment. The net sales to this customer represented approximately 31.0% for six months ended September 30, 2012 and 20.8% for the year ended March 31, 2012 from the date of acquisition on May 6, 2011, of net sales for this segment. The Company has no further obligation to accept additional product returns from this customer. In accordance with the Company's net-of-core revenue recognition policy, the Company recognized approximately $50,783,000 in revenue from the reduction in our obligation to provide a credit for this major customer's Remanufactured Cores which were previously recorded as a customer core returns accrual and $31,649,000 of the related long-term core inventory previously recorded in the consolidated balance sheet was recognized as cost of goods sold during the nine months ended December 31, 2012. The results of operations of Fenco have been included from the date of acquisition on May 6, 2011. Financial information relating to the Company's reportable segments is as follows:
|  | Three months ended December 31, 2012 |
|  | Rotating |  | Undercar |  |  |  |  |
Selected income statement data |  | Electrical |  | Product Line |  | Eliminations |  | Consolidated |
Net sales to external customers |  | $ | 50,658,000 |  |  | $ | 65,617,000 |  |  | $ | - |  |  | $ | 116,275,000 |
Gross profit |  |  | 16,326,000 |  |  |  | 7,717,000 |  |  |  | - |  |  |  | 24,043,000 |
Operating income |  |  | 5,050,000 |  |  |  | 2,720,000 |  |  |  | - |  |  |  | 7,770,000 |
Net income (loss) |  |  | 1,786,000 |  |  |  | (851,000 | ) |  |  | - |  |  |  | 935,000 |
|  | Three months ended December 31, 2011 |
|  | Rotating |  |  | Undercar |  |  |  |  |  |  |
Selected income statement data |  | Electrical |  |  | Product Line |  |  | Eliminations |  |  | Consolidated |
Net sales to external customers |  | $ | 41,895,000 |  |  | $ | 42,202,000 |  |  | $ | - |  |  | $ | 84,097,000 |
Intersegment revenue, net of cost |  |  | 241,000 |  |  |  | - |  |  |  | (241,000 | ) |  |  | - |
Gross profit (loss) |  |  | 12,636,000 |  |  |  | (14,217,000 | ) |  |  | - |  |  |  | (1,581,000 | )
Operating income (loss) |  |  | 5,630,000 |  |  |  | (22,219,000 | ) |  |  | - |  |  |  | (16,589,000 | )
Net income (loss) |  |  | 3,028,000 |  |  |  | (24,855,000 | ) |  |  | - |  |  |  | (21,827,000 | )
|  | Nine months ended December 31, 2012 |
|  | Rotating |  | Undercar |  |  |  |  |
Selected income statement data |  | Electrical |  | Product Line |  | Eliminations |  | Consolidated |
Net sales to external customers |  | $ | 155,109,000 |  |  | $ | 161,821,000 |  |  | $ | - |  |  | $ | 316,930,000 |
Gross profit |  |  | 51,241,000 |  |  |  | 1,637,000 |  |  |  | - |  |  |  | 52,878,000 |
Operating income (loss) |  |  | 25,266,000 |  |  |  | (19,758,000 | ) |  |  | - |  |  |  | 5,508,000 |
Net income (loss) |  |  | 10,656,000 |  |  |  | (28,516,000 | ) |  |  | - |  |  |  | (17,860,000 | )
|  | Nine months ended December 31, 2011 |
|  | Rotating |  |  | Undercar |  |  |  |  |  |  |
Selected income statement data |  | Electrical |  |  | Product Line |  |  | Eliminations |  |  | Consolidated |
Net sales to external customers |  | $ | 126,648,000 |  |  | $ | 135,575,000 |  |  | $ | - |  |  | $ | 262,223,000 |
Intersegment revenue, net of cost |  |  | 1,853,000 |  |  |  | - |  |  |  | (1,853,000 | ) |  |  | - |
Gross profit (loss) |  |  | 40,483,000 |  |  |  | (20,052,000 | ) |  |  | - |  |  |  | 20,431,000 |
Operating income (loss) |  |  | 15,902,000 |  |  |  | (37,277,000 | ) |  |  | - |  |  |  | (21,375,000 | )
Net income (loss) |  |  | 8,280,000 |  |  |  | (43,851,000 | ) |  |  | - |  |  |  | (35,571,000 | )
|  | December 31, 2012 |
|  | Rotating |  |  | Undercar |  |  |  |  |  |  |
Selected balance sheet data |  | Electrical |  |  | Product Line |  |  | Eliminations |  |  | Consolidated |
Current assets |  | $ | 108,879,000 |  |  | $ | 64,119,000 |  |  | $ | (31,649,000 | ) |  | $ | 141,349,000 |
Non-current assets |  |  | 218,217,000 |  |  |  | 139,141,000 |  |  |  | (56,065,000 | ) |  |  | 301,293,000 |
Total assets |  | $ | 327,096,000 |  |  | $ | 203,260,000 |  |  | $ | (87,714,000 | ) |  | $ | 442,642,000 |
Current liabilities |  | $ | 69,913,000 |  |  | $ | 132,533,000 |  |  | $ | (33,150,000 | ) |  | $ | 169,296,000 |
Non-current liabilities |  |  | 95,569,000 |  |  |  | 157,111,000 |  |  |  | (49,618,000 | ) |  |  | 203,062,000 |
Total liabilities |  |  | 165,482,000 |  |  |  | 289,644,000 |  |  |  | (82,768,000 | ) |  |  | 372,358,000 |
Equity (deficit) |  |  | 161,614,000 |  |  |  | (86,384,000 | ) |  |  | (4,946,000 | ) |  |  | 70,284,000 |
Total liabilities and equity |  | $ | 327,096,000 |  |  | $ | 203,260,000 |  |  | $ | (87,714,000 | ) |  | $ | 442,642,000 |
|  | March 31, 2012 |
|  | Rotating |  |  | Undercar |  |  |  |  |  |  |
Selected balance sheet data |  | Electrical |  |  | Product Line |  |  | Eliminations |  |  | Consolidated |
Current assets |  | $ | 115,451,000 |  |  | $ | 81,778,000 |  |  | $ | (28,998,000 | ) |  | $ | 168,231,000 |
Non-current assets |  |  | 179,167,000 |  |  |  | 186,896,000 |  |  |  | (32,396,000 | ) |  |  | 333,667,000 |
Total assets |  | $ | 294,618,000 |  |  | $ | 268,674,000 |  |  | $ | (61,394,000 | ) |  | $ | 501,898,000 |
Current liabilities |  | $ | 72,987,000 |  |  | $ | 126,430,000 |  |  | $ | (28,998,000 | ) |  | $ | 170,419,000 |
Non-current liabilities |  |  | 85,201,000 |  |  |  | 200,112,000 |  |  |  | (27,453,000 | ) |  |  | 257,860,000 |
Total liabilities |  |  | 158,188,000 |  |  |  | 326,542,000 |  |  |  | (56,451,000 | ) |  |  | 428,279,000 |
Equity (deficit) |  |  | 136,430,000 |  |  |  | (57,868,000 | ) |  |  | (4,943,000 | ) |  |  | 73,619,000 |
Total liabilities and equity |  | $ | 294,618,000 |  |  | $ | 268,674,000 |  |  | $ | (61,394,000 | ) |  | $ | 501,898,000 |
|  | Nine months ended December 31, 2012 |
|  | Rotating |  |  | Undercar |  |  |  |  |  |  |
Selected cash flow data |  | Electrical |  |  | Product Line |  |  | Eliminations |  |  | Consolidated |
Net cash used in operating activities |  | $ | (4,035,000 | ) |  | $ | (23,694,000 | ) |  | $ | - |  |  | $ | (27,729,000 | )
Net cash used in investing activities |  |  | (1,656,000 | ) |  |  | (1,401,000 | ) |  |  | - |  |  |  | (3,057,000 | )
Net cash provided by financing activities |  |  | 22,514,000 |  |  |  | 737,000 |  |  |  | - |  |  |  | 23,251,000 |
Effect of exchange rate changes on cash |  |  | (12,000 | ) |  |  | - |  |  |  | - |  |  |  | (12,000 | )
Cash — Beginning of period |  |  | 32,379,000 |  |  |  | 238,000 |  |  |  | - |  |  |  | 32,617,000 |
Cash — End of period |  |  | 24,863,000 |  |  |  | 207,000 |  |  |  | - |  |  |  | 25,070,000 |
Additional selected financial data |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Depreciation and amortization |  | $ | 2,137,000 |  |  | $ | 1,854,000 |  |  | $ | - |  |  | $ | 3,991,000 |
Capital expenditures |  |  | 1,625,000 |  |  |  | 1,401,000 |  |  |  | - |  |  |  | 3,026,000 |
|  | Nine months ended December 31, 2011 |
|  | Rotating |  |  | Undercar |  |  |  |  |  |  |
Selected cash flow data |  | Electrical |  |  | Product Line |  |  | Eliminations |  |  | Consolidated |
Net cash provided by (used in) operating activities |  | $ | 7,124,000 |  |  | $ | (52,472,000 | ) |  | $ | - |  |  | $ | (45,348,000 | )
Net cash used in investing activities |  |  | (775,000 | ) |  |  | (322,000 | ) |  |  | - |  |  |  | (1,097,000 | )
Net cash provided by financing activities |  |  | 39,209,000 |  |  |  | 8,000,000 |  |  |  | - |  |  |  | 47,209,000 |
Effect of exchange rate changes on cash |  |  | (108,000 | ) |  |  | - |  |  |  | - |  |  |  | (108,000 | )
Cash — Beginning of period |  |  | 2,477,000 |  |  |  | - |  |  |  | - |  |  |  | 2,477,000 |
Cash — End of period |  |  | 2,856,000 |  |  |  | 277,000 |  |  |  | - |  |  |  | 3,133,000 |
Additional selected financial data |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Depreciation and amortization |  | $ | 2,634,000 |  |  | $ | 2,904,000 |  |  | $ | - |  |  | $ | 5,538,000 |
Capital expenditures |  |  | 746,000 |  |  |  | 322,000 |  |  |  | - |  |  |  | 1,068,000 |

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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/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 29 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8864-108599 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8906-108599 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8933-108599 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 35 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8984-108599 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8380-108599 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 10 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8538-108599 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 42 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9054-108599 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8595-108599 Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 131 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 10: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 34 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8981-108599 Reference 11: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 33 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8971-108599 Reference 12: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 26 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8844-108599 Reference 13: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8924-108599 Reference 14: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 40 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9031-108599 Reference 15: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9038-108599 + Details
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