The Company’s goodwill currently resides entirely within the Climate Solutions segment. The following table presents a roll forward of the carrying value of goodwill from March 31, 2024 to March 31, 2026. | | | | | | Climate | | | Solutions | Balance, March 31, 2024 | | $ | 230.9 | Acquisition adjustment (a) | | | 7.4 | Effect of exchange rate changes | | | (4.4) | Balance, March 31, 2025 | | | 233.9 | Acquisitions (a) | | | 51.8 | Effect of exchange rate changes | | | 6.4 | Balance, March 31, 2026 | | $ | 292.1 | ____ | | | |
| (a) | During fiscal 2025, the Company recorded a measurement period adjustment to reduce the fair value of the acquired Scott Springfield Manufacturing trade name. This purchase accounting adjustment resulted in a $7.4 million increase in goodwill. During fiscal 2026, the Company recorded $27.1 million, $23.6 million, and $1.1 million of goodwill in connection with its acquisition of L.B. White, Climate by Design, and AbsolutAire, respectively. See Note 2 for additional information. |
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