v3.26.1
Revenue Recognition (Tables)
12 Months Ended
Mar. 31, 2026
Revenue Recognition.  
Disaggregation of Revenue

The tables below present revenue for each of the Company’s operating segments, Climate Solutions and Performance Technologies. Each segment’s revenue is disaggregated by product group and by geographic location.

Effective April 1, 2025, and in connection with the Company’s strategic transformation and application of 80/20 principles, the Company realigned its segment teams around five market-based product groups, as summarized above. Accordingly, the disaggregated revenue information presented in the tables below reflect the current product group structure. The fiscal 2025 and 2024 information has been recast to be comparable with the fiscal 2026 presentation.

Year ended March 31, 2026

  ​ ​ ​

Climate

  ​ ​ ​

Performance

  ​ ​ ​

Segment

Solutions

Technologies

Total

Product groups:

 

  ​

 

  ​

 

  ​

Data Centers

$

1,112.1

$

$

1,112.1

Heat Transfer Solutions

584.1

584.1

HVAC Technologies

 

359.2

 

 

359.2

Heavy-Duty Equipment

 

 

409.3

 

409.3

On-Highway Applications

 

 

716.4

 

716.4

Inter-segment sales

 

6.9

 

6.1

 

13.0

Net sales

$

2,062.3

$

1,131.8

$

3,194.1

Geographic location:

 

  ​

 

  ​

 

  ​

Americas

$

1,535.5

$

593.8

$

2,129.3

Europe

 

501.4

 

336.8

 

838.2

Asia

 

25.4

 

201.2

 

226.6

Net sales

$

2,062.3

$

1,131.8

$

3,194.1

  ​ ​ ​

Year ended March 31, 2025

  ​ ​ ​

Climate

  ​ ​ ​

Performance

  ​ ​ ​

Segment

Solutions

Technologies

Total

Product groups:

  ​

  ​

  ​

Data Centers

$

644.2

$

$

644.2

Heat Transfer Solutions

539.4

539.4

HVAC Technologies

 

257.0

 

 

257.0

Heavy-Duty Equipment

 

 

422.1

 

422.1

On-Highway Applications

 

 

720.8

 

720.8

Inter-segment sales

 

0.2

 

20.6

 

20.8

Net sales

$

1,440.8

$

1,163.5

$

2,604.3

Geographic location:

 

  ​

 

  ​

 

  ​

Americas

$

997.8

$

695.6

$

1,693.4

Europe

 

415.8

 

295.9

 

711.7

Asia

 

27.2

 

172.0

 

199.2

Net sales

$

1,440.8

$

1,163.5

$

2,604.3

  ​ ​ ​

Year ended March 31, 2024

  ​ ​ ​

Climate

  ​ ​ ​

Performance

  ​ ​ ​

Segment

Solutions

Technologies

Total

Product groups:

  ​

 

  ​

 

  ​

Data Centers

$

294.2

$

$

294.2

Heat Transfer Solutions

606.4

606.4

HVAC Technologies

 

207.5

 

 

207.5

Heavy-Duty Equipment

 

 

463.3

 

463.3

On-Highway Applications

 

 

836.4

 

836.4

Inter-segment sales

 

 

21.6

 

21.6

Net sales

$

1,108.1

$

1,321.3

$

2,429.4

Geographic location:

 

  ​

 

  ​

 

  ​

Americas

$

649.0

$

721.0

$

1,370.0

Europe

 

432.7

 

406.8

 

839.5

Asia

 

26.4

 

193.5

 

219.9

Net sales

$

1,108.1

$

1,321.3

$

2,429.4

Contract Assets and Contract Liabilities from Contracts with Customers

Contract assets and contract liabilities from contracts with customers were as follows:

  ​ ​ ​

March 31, 2026

  ​ ​ ​

March 31, 2025

Contract assets

$

43.6

$

13.3

Contract liabilities

 

194.5

 

35.1