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Segment Information | 9 Months Ended
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Dec. 31, 2024
Segment Information [Abstract] |
Segment Information | 18. Segment Information The Company’s three operating segments are as follows: ● 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, are not required to be separately reported, and are included within the “all other” category. Financial information relating to the Company’s segments is as follows:
|  | Three Months Ended December 31, 2024
|  | Hard Parts |  | All Other |  | Total
Net sales to external customers |  | $ | 174,548,000 |  |  | $ | 11,628,000 |  |  | $ | 186,176,000 |
Intersegment sales |  |  | 344,000 |  |  |  | 222,000 |  |  |  | 566,000 |
Operating income (loss) |  |  | 19,069,000 | (1) |  |  | (1,515,000 | ) |  |  | 17,554,000 |
Depreciation and amortization |  |  | 2,321,000 |  |  |  | 211,000 |  |  |  | 2,532,000 |
Segment assets |  |  | 962,855,000 |  |  |  | 54,855,000 |  |  |  | 1,017,710,000 |
Capital expenditures |  |  | 601,000 |  |  |  | 68,000 |  |  |  | 669,000 |
|  | Three Months Ended December 31, 2023
|  | Hard Parts |  | All Other |  | Total
Net sales to external customers |  | $ | 161,254,000 |  |  | $ | 10,608,000 |  |  | $ | 171,862,000 |
Intersegment sales |  |  | 242,000 |  |  |  | 116,000 |  |  |  | 358,000 |
Operating income (loss) |  |  | 9,993,000 | (1) |  |  | (473,000 | ) |  |  | 9,520,000 |
Depreciation and amortization |  |  | 2,557,000 |  |  |  | 321,000 |  |  |  | 2,878,000 |
Segment assets |  |  | 1,005,470,000 |  |  |  | 51,965,000 |  |  |  | 1,057,435,000 |
Capital expenditures |  |  | 221,000 |  |  |  | 72,000 |  |  |  | 293,000 |
|  | Nine Months Ended December 31, 2024
|  | Hard Parts |  | All Other |  | Total
Net sales to external customers |  | $ | 527,412,000 |  |  | $ | 36,837,000 |  |  | $ | 564,249,000 |
Intersegment sales |  |  | 840,000 |  |  |  | 794,000 |  |  |  | 1,634,000 |
Operating income (loss) |  |  | 23,893,000 | (1) |  |  | (322,000 | ) |  |  | 23,571,000 |
Depreciation and amortization |  |  | 7,247,000 |  |  |  | 615,000 |  |  |  | 7,862,000 |
Capital expenditures |  |  | 1,402,000 |  |  |  | 314,000 |  |  |  | 1,716,000 |
|  | Nine Months Ended December 31, 2023
|  | Hard Parts |  | All Other |  | Total
Net sales to external customers |  | $ | 495,422,000 |  |  | $ | 32,784,000 |  |  | $ | 528,206,000 |
Intersegment sales |  |  | 442,000 |  |  |  | 249,000 |  |  |  | 691,000 |
Operating income (loss) |  |  | 36,702,000 | (1) |  |  | (2,852,000 | ) |  |  | 33,850,000 |
Depreciation and amortization |  |  | 7,825,000 |  |  |  | 1,019,000 |  |  |  | 8,844,000 |
Capital expenditures |  |  | 352,000 |  |  |  | 110,000 |  |  |  | 462,000 |
|  | Three Months Ended |  | Nine Months Ended
|  | December 31, |  | December 31,
Net sales |  | 2024 |  | 2023 |  | 2024 |  | 2023
Total net sales for reportable segment |  | $ | 174,892,000 |  |  | $ | 161,496,000 |  |  | $ | 528,252,000 |  |  | $ | 495,864,000 |
Other net sales |  |  | 11,850,000 |  |  |  | 10,724,000 |  |  |  | 37,631,000 |  |  |  | 33,033,000 |
Elimination of intersegment net sales |  |  | (566,000 | ) |  |  | (358,000 | ) |  |  | (1,634,000 | ) |  |  | (691,000 | )
Total consolidated net sales |  | $ | 186,176,000 |  |  | $ | 171,862,000 |  |  | $ | 564,249,000 |  |  | $ | 528,206,000 |
|  | Three Months Ended |  | Nine Months Ended
|  | December 31, |  | December 31,
Profit or loss |  | 2024 |  | 2023 |  | 2024 |  | 2023
Total operating income for reportable segment (1) |  | $ | 19,069,000 |  |  | $ | 9,993,000 |  |  | $ | 23,893,000 |  |  | $ | 36,702,000 |
Other operating loss |  |  | (1,515,000 | ) |  |  | (473,000 | ) |  |  | (322,000 | ) |  |  | (2,852,000 | )
Elimination of intersegment operating income |  |  | 27,000 |  |  |  | 4,000 |  |  |  | 74,000 |  |  |  | 52,000 |
Interest expense, net |  |  | (14,435,000 | ) |  |  | (18,297,000 | ) |  |  | (43,004,000 | ) |  |  | (45,400,000 | )
Change in fair value of compound net derivative liability |  |  | 260,000 |  |  |  | (1,160,000 | ) |  |  | 2,460,000 |  |  |  | (1,690,000 | )
Loss on extinguishment of debt |  |  | - |  |  |  | - |  |  |  | - |  |  |  | (168,000 | )
Total consolidated income (loss) before income tax expense |  | $ | 3,406,000 |  |  | $ | (9,933,000 | ) |  | $ | (16,899,000 | ) |  | $ | (13,356,000 | )
Assets |  | December 31, 2024 |  | March 31, 2024
Total assets for reportable segment |  | $ | 962,855,000 |  |  | $ | 1,019,811,000 |
Other assets |  |  | 54,855,000 |  |  |  | 54,946,000 |
Elimination of intersegment assets |  |  | (68,202,000 | ) |  |  | (62,755,000 | )
Total consolidated assets |  | $ | 949,508,000 |  |  | $ | 1,012,002,000 |
(1) Operating income for the Company’s Hard Parts segment includes the foreign exchange impact of lease liabilities and forward contracts, which were a loss of $2,460,000 and a gain of $3,149,000 for the three months ended December 31, 2024 and 2023, respectively, and a loss of $18,966,000 and a gain of $2,659,000, for the nine months ended December 31, 2024 and 2023, respectively.

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