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v3.25.1

Segment Information | 12 Months Ended
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Mar. 31, 2025
Segment Information [Abstract] |
Segment Information | 20. Segment Information The Company has identified its Chief Executive Officer as its chief operating decision maker (“CODM”). The Company has identified its operating segments based on the nature of the products the Company sells, the Company’s organizational and management reporting structure, and the operating results that are regularly reviewed by the Company’s CODM to make decisions about the resources to be allocated to the business units and to assess performance. The CODM primarily uses operating income to evaluate the performance of the Company’s operating segments and to allocate resources. The Company’s three operating segments are: ● Hard Parts, which includes (i) light duty rotating electric products such as alternators and starters, (ii) wheel hub products, (iii) brake-related products, including brake calipers, brake boosters, brake rotors, brake pads and brake master cylinders, and (iv) turbochargers, ● Test Solutions and Diagnostic Equipment, which includes (i) applications for combustion engine vehicles, including bench-top testers for alternators and starters, (ii) equipment for the pre- and post-production of electric vehicles, and (iii) software emulation of power system applications for the electrification of all forms of transportation (including automobiles, trucks, the emerging electrification of systems within the aerospace industry, and electric vehicle charging stations), and ● Heavy Duty, which includes non-discretionary automotive aftermarket replacement hard parts for heavy-duty truck, industrial, marine, and agricultural applications. The Company’s Hard Parts operating segment meets the criteria of a reportable segment. The Test Solutions and Diagnostic Equipment and Heavy Duty segments are not material, and are not required to be separately reported. Financial information relating to the Company’s segments is as follows:
|  | Years Ended March 31,
|  |  | 2025 |  |  |  | 2024 |  |  |  | 2023 |
Net sales to external customers for Hard Parts reportable segment |  | $ | 707,210,000 |  |  | $ | 669,904,000 |  |  | $ | 638,460,000 |
Intersegment sales for Hard Parts reportable segment |  |  | 1,016,000 |  |  |  | 895,000 |  |  |  | 600,000 |
Total net sales for Hard Parts reportable segment |  |  | 708,226,000 |  |  |  | 670,799,000 |  |  |  | 639,060,000 |
Reconciliation of net sales |  |  |  |  |  |  |  |  |  |  |  |
Other net sales (1) |  |  | 50,144,000 |  |  |  | 47,780,000 |  |  |  | 44,614,000 |
Elimination of intersegment net sales |  |  | (1,016,000 | ) |  |  | (895,000 | ) |  |  | (600,000 | )
Total consolidated net sales |  | $ | 757,354,000 |  |  | $ | 717,684,000 |  |  | $ | 683,074,000 |
Less (2): |  |  |  |  |  |  |  |  |  |  |  |
Material, labor, and overhead expenses |  |  | 465,656,000 |  |  |  | 450,913,000 |  |  |  | 434,443,000 |
Logistic expenses (3) |  |  | 99,264,000 |  |  |  | 92,969,000 |  |  |  | 95,496,000 |
Revaluation of cores on customers' shelves |  |  | 2,805,000 |  |  |  | 5,353,000 |  |  |  | 3,736,000 |
Foreign exchange impact of lease liabilities and forward contracts |  |  | 15,892,000 |  |  |  | (3,814,000 | ) |  |  | (9,291,000 | )
Other segment items (4) |  |  | 83,693,000 |  |  |  | 76,878,000 |  |  |  | 69,821,000 |
Total operating income for Hard Parts reportable segment |  | $ | 40,916,000 |  |  | $ | 48,500,000 |  |  | $ | 44,855,000 |
Reconciliation of profit (loss) |  |  |  |  |  |  |  |  |  |  |  |
Other operating loss (1) |  |  | (1,064,000 | ) |  |  | (2,431,000 | ) |  |  | (8,303,000 | )
Elimination of intersegment operating income (loss) |  |  | 71,000 |  |  |  | 51,000 |  |  |  | (106,000 | )
Interest expense, net |  |  | (55,550,000 | ) |  |  | (60,040,000 | ) |  |  | (39,555,000 | )
Change in fair value of compound net derivative liability |  |  | (60,000 | ) |  |  | 1,020,000 |  |  |  | - |
Loss on extinguishment of debt |  |  | - |  |  |  | (168,000 | ) |  |  | - |
Total consolidated loss before income tax (benefit) expense |  | $ | (15,687,000 | ) |  | $ | (13,068,000 | ) |  | $ | (3,109,000 | )
Reconciliations of other significant items and assets: |  |  |  |  |  |  |  |  |  |  |  |
Depreciation and amortization |  |  |  |  |  |  |  |  |  |  |  |
Depreciation and amortization for Hard Parts reportable segment (5) |  | $ | 9,579,000 |  |  | $ | 10,371,000 |  |  | $ | 10,955,000 |
Other depreciation and amortization (1) |  |  | 821,000 |  |  |  | 1,248,000 |  |  |  | 1,489,000 |
Total consolidated depreciation and amortization |  | $ | 10,400,000 |  |  | $ | 11,619,000 |  |  | $ | 12,444,000 |
Capital Expenditures |  |  |  |  |  |  |  |  |  |  |  |
Captial expenditures for Hard Parts reportable segment |  | $ | 3,445,000 |  |  | $ | 621,000 |  |  | $ | 3,459,000 |
Other capital expenditures (1) |  |  | 1,133,000 |  |  |  | 379,000 |  |  |  | 742,000 |
Total consolidated capital expenditures |  | $ | 4,578,000 |  |  | $ | 1,000,000 |  |  | $ | 4,201,000 |
Assets |  |  | March 31, 2025 |  |  |  | March 31, 2024 |  |  |  |  |
Total assets for Hard Parts reportable segment |  | $ | 967,178,000 |  |  | $ | 1,019,811,000 |  |  |  |  |
Other assets (1) |  |  | 58,355,000 |  |  |  | 54,946,000 |  |  |  |  |
Elimination of intersegment assets |  |  | (67,897,000 | ) |  |  | (62,755,000 | ) |  |  |  |
Total consolidated assets |  | $ | 957,636,000 |  |  | $ | 1,012,002,000 |  |  |  |  |
(1) Net sales, operating loss, depreciation and amortization, capital expenditures, and assets from segments below the quantitative threshold are attributable to the Company’s Test Solutions and Diagnostic Equipment and the Heavy Duty operating segments. Neither of these two operating segments has ever met any of the quantitative thresholds for determining reportable segments. (2) The significant expense categories and amounts align with the segment-level information that is regularly provided to the CODM for the Company’s Hard Parts reportable segment. Intersegment expenses are included within the amounts shown. (3) Logistic expenses include freight, tariffs, and customs duties. (4) Other segment items include general and administrative expenses, sales and marketing expenses, and research and development expenses. (5) Depreciation and amortization for the Company’s Hard Parts reportable segment are included within material, labor, and overhead expenses and other segment items.

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