Zurn Elkay Water Solutions (ZWS) 10-K 14 May 19 2019 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($) $ in Billions	12 Months Ended
	Mar. 31, 2019	May 10, 2019	Sep. 30, 2018
Document and Entity Information [Abstract]
Entity Registrant Name	Rexnord Corp
Entity Central Index Key	0001439288
Document Type	10-K
Document Period End Date	Mar. 31, 2019
Amendment Flag	false
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	FY
Current Fiscal Year End Date	--03-31
Entity Filer Category	Large Accelerated Filer
Entity Emerging Growth Company	false
Entity Small Business	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding (in shares)		104,866,451
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Public Float			$ 3.2

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Millions	Mar. 31, 2019	Mar. 31, 2018
Current assets:
Cash and cash equivalents	$ 292.5	$ 193.2
Receivables, net	334.3	314.7
Inventories	316.5	304.1
Income tax receivable	3.3	17.5
Other current assets	36.3	37.9
Current assets held for sale	0	130.3
Total current assets	982.9	997.7
Property, plant and equipment, net	383	396.5
Intangible assets, net	511.5	530.9
Goodwill	1,299.7	1,276.1
Other assets	82.6	114
Non-current assets held for sale	0	108.5
Total assets	3,259.7	3,423.7
Current liabilities:
Current maturities of debt	1.2	3.9
Trade payables	191.7	189.9
Compensation and benefits	63.7	63.9
Current portion of pension and postretirement benefit obligations	3.3	4
Other current liabilities	137.1	127.4
Current liabilities held for sale	0	65.1
Total current liabilities	397	454.2
Long-term debt	1,236.8	1,352.1
Pension and postretirement benefit obligations	158	163.2
Deferred income taxes	125.9	149.3
Other liabilities	111	78.3
Non-current liabilities held for sale	0	13.8
Total liabilities	2,028.7	2,210.9
Stockholders' equity:
Common stock, $0.01 par value; 200,000,000 shares authorized; shares issued and outstanding: 104,842,299 at March 31, 2019 and 104,179,037 at March 31, 2018	1	1
Preferred stock, $0.01 par value; 10,000,000 shares authorized; shares of 5.75% Series A Mandatory Convertible Preferred Stock issued and outstanding: 402,500 at March 31, 2019 and March 31, 2018	0	0
Additional paid-in capital	1,293.5	1,277.8
Retained earnings	30.7	8
Accumulated other comprehensive loss	(96.6)	(74.1)
Total Rexnord stockholders' equity	1,228.6	1,212.7
Non-controlling interest	2.4	0.1
Total stockholders' equity	1,231	1,212.8
Total liabilities and stockholders' equity	$ 3,259.7	$ 3,423.7

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - $ / shares	12 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Common Stock
Par value (in dollars per share)	$ 0.01	$ 0.01
Shares authorized (in shares)	200,000,000	200,000,000
Shares issued (in shares)	104,842,299	104,179,037
Shares outstanding (in shares)	104,842,299	104,179,037
Redeemable Convertible Preferred Stock
Preferred Stock
Par value (in dollars per share)	$ 0.01	$ 0.01
Shares authorized (in shares)	10,000,000	10,000,000
Shares issued (in shares)	402,500	402,500
Shares outstanding (in shares)	402,500	402,500
Dividend rate, percentage	5.75%

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Millions	12 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Mar. 31, 2017
Income Statement [Abstract]
Net sales	$ 2,050.9	$ 1,851.6	$ 1,712.5
Cost of sales	1,266.1	1,145.1	1,086.1
Gross profit	784.8	706.5	626.4
Selling, general and administrative expenses	433.1	393.8	356.1
Restructuring and other similar charges	12.1	14.1	26.1
Amortization of intangible assets	34	32.2	41
Income from operations	305.6	266.4	203.2
Non-operating (expense) income:
Interest expense, net	(69.9)	(75.1)	(88.3)
Gain (loss) on the extinguishment of debt	4.3	(11.9)	(7.8)
Other (expense) income, net	(1.2)	7.7	0.2
Income from continuing operations before income taxes	238.8	187.1	107.3
(Provision) benefit for income taxes	(53.4)	19.5	(15.6)
Equity method investment income	3.6	0	0
Net income from continuing operations	189	206.6	91.7
Loss from discontinued operations, net of tax	(154.7)	(130.6)	(17.6)
Net income (loss)	34.3	76	74.1
Non-controlling interest income	0	0.1	0
Net income (loss) attributable to Rexnord	34.3	75.9	74.1
Dividends on preferred stock	(23.2)	(23.2)	(7.3)
Net income (loss) attributable to Rexnord common stockholders	$ 11.1	$ 52.7	$ 66.8
Basic net income (loss) per share attributable to Rexnord common stockholders:
Continuing operations (in dollars per share)	$ 1.58	$ 1.76	$ 0.82
Discontinued operations (in dollars per share)	(1.48)	(1.26)	(0.17)
Net income (in dollars per share)	0.11	0.51	0.65
Diluted net income (loss) per share attributable to Rexnord common stockholders:
Continuing operations (in dollars per share)	1.53	1.69	0.81
Discontinued operations (in dollars per share)	(1.25)	(1.07)	(0.17)
Net income (in dollars per share)	$ 0.28	$ 0.62	$ 0.64
Weighted-average number of common shares outstanding (in thousands):
Basic (in shares)	104,640	103,889	102,753
Effect of dilutive stock options (in shares)	18,689	18,095	2,031
Diluted (in shares)	123,329	121,984	104,784

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Millions	12 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Mar. 31, 2017
Statement of Comprehensive Income [Abstract]
Net income attributable to Rexnord	$ 34.3	$ 75.9	$ 74.1
Other comprehensive (loss) income:
Foreign currency translation adjustments	(17.9)	57.1	(12.8)
Net change in unrealized losses on interest rate derivatives, net of tax	4.5	5.8	7.4
Change in pension and other postretirement defined benefit plans, net of tax	(9.1)	0	7.4
Other comprehensive (loss) income, net of tax	(22.5)	62.9	2
Non-controlling interest income	0	0.1	0
Total comprehensive income	$ 11.8	$ 138.9	$ 76.1

Consolidated Statements of Stoc

Consolidated Statements of Stockholders' Equity - USD ($) $ in Millions	Total	Centa China	Redeemable Convertible Preferred Stock	Common Stock	Preferred Stock	[1]	Additional Paid-In Capital	Retained (Deficit) Earnings	Accumulated Other Comprehensive (Loss) Income	Non-controlling interest	[2]
Beginning balance at Mar. 31, 2016	$ 588			$ 1	$ 0		$ 856.2	$ (129.6)	$ (139)	$ (0.6)
Comprehensive income (loss):
Net income	74.1							74.1
Foreign currency translation adjustments	(12.8)								(12.8)
Change in unrealized loss on interest rate derivatives, net of income tax expense	7.4								7.4
Change in pension and other post retirement defined benefit plans, net of income tax expense	7.4								7.4
Total comprehensive income	76.1							74.1	2
Acquisition of non-controlling interest	(0.3)						(0.9)			0.6
Stock-based compensation expense	13.4						13.4
Proceeds from exercise of stock options	11						11
Preferred stock issuance, net	389.7						389.7
Preferred stock dividends	(7.3)						(7.3)
Ending balance at Mar. 31, 2017	1,070.6			1	0		1,262.1	(55.5)	(137)
Comprehensive income (loss):
Cash paid, net of cash acquired	$ 213.7
Non-controlling interest percentage	49.00%
Net income	$ 76							75.9		0.1
Foreign currency translation adjustments	57.1								57.1
Change in unrealized loss on interest rate derivatives, net of income tax expense	5.8								5.8
Change in pension and other post retirement defined benefit plans, net of income tax expense	0
Total comprehensive income	138.9							75.9	62.9	0.1
Stock-based compensation expense	20.5						20.5
Proceeds from exercise of stock options	7.2						7.2
Taxes withheld and paid on employees' share-based payment awards	(1.2)						(1.2)
Preferred stock dividends	(23.2)						(10.8)	(12.4)
Ending balance at Mar. 31, 2018	1,212.8			1	0		1,277.8	8	(74.1)	0.1
Comprehensive income (loss):
Cash paid, net of cash acquired	$ 173.6
Shares issued (in shares)			402,500
Par value (in dollars per share)			$ 0.01
Non-controlling interest percentage	30.00%
Net income	$ 34.3							34.3
Foreign currency translation adjustments	(17.9)								(17.9)
Change in unrealized loss on interest rate derivatives, net of income tax expense	4.5								4.5
Change in pension and other post retirement defined benefit plans, net of income tax expense	(9.1)								(9.1)
Total comprehensive income	11.8							34.3	(22.5)
Acquisition of non-controlling interest	2.3									2.3
Stock-based compensation expense	22.6						22.6
Proceeds from exercise of stock options	7.9						7.9
Taxes withheld and paid on employees' share-based payment awards	(3.2)						(3.2)
Preferred stock dividends	(23.2)						(11.6)	(11.6)
Ending balance at Mar. 31, 2019	1,231			$ 1	$ 0		$ 1,293.5	$ 30.7	$ (96.6)	$ 2.4
Comprehensive income (loss):
Dividend rate, percentage			5.75%
Cash paid, net of cash acquired	$ 23.4
Shares issued (in shares)			402,500
Par value (in dollars per share)			$ 0.01
Non-controlling interest percentage	30.00%	5.00%
[1]	On December 7, 2016, the Company issued 8,050,000 depositary shares, each of which represents a 1/20th interest in a share of 5.75% Series A Mandatory Convertible Preferred Stock (the "Series A Preferred Stock"), for an offering price of $50 per depository share. Shares of Series A Preferred Stock have a par value of $0.01 per share.
[2]	Represents a 49% non-controlling interest in a Water Management joint venture at the start of fiscal 2017. During the first quarter of fiscal 2017, the Company acquired the remaining non-controlling interest for a cash purchase price of $0.3 million. During fiscal 2018, represents a 30% non-controlling interest in two Process & Motion Control controlled subsidiaries. During fiscal 2019, represents a 30% non-controlling interest in two Process & Motion Control controlled subsidiaries and a 5% non-controlling interest in another Process & Motion Control joint venture relationship. Refer to Note 3, Acquisitions for further detail.

Consolidated Statements of St_2

Consolidated Statements of Stockholders' Equity (Parenthetical) - USD ($) $ in Millions	12 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Mar. 31, 2017
Statement of Stockholders' Equity [Abstract]
Unrealized gain (loss) on interest rate derivatives, income tax expense (benefit)	$ (1.2)	$ (3.9)	$ (4.3)
Change in pension and other postretirement defined benefit plans - income tax (expense) benefit	$ (2.8)	$ (2.3)	$ (4.4)

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Millions	12 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Mar. 31, 2017
Operating activities
Net income	$ 34.3	$ 76	$ 74.1
Adjustments to reconcile net income to cash provided by operating activities:
Depreciation	58	56.1	63.3
Amortization of intangible assets	34.3	33.6	42.1
Amortization of deferred financing costs	1.5	1.9	2.4
Non-cash discontinued operations asset impairment	126	111.2	0
Non-cash loss on sale of discontinued operations	22.5	0	0
Non-cash asset impairment	0.3	0.8	1.5
Loss on dispositions of property, plant and equipment	0.5	0.9	0.2
Deferred income taxes	(27.5)	(77.5)	(18.4)
Actuarial gain on pension and post retirement benefit obligations	(0.4)	(3.3)	(2.6)
Other non-cash charges (credits)	6.1	2.3	(1)
(Gain) loss on extinguishment of debt	(4.3)	11.9	7.8
Stock-based compensation expense	22.6	20.5	13.4
Changes in operating assets and liabilities:
Receivables	(29.8)	(31)	(5.8)
Inventories	(24.7)	11.5	22.5
Other assets	4.1	(16.6)	(9.2)
Accounts payable	(1.3)	13	(5.3)
Accruals and other	35.9	17.2	10.1
Cash provided by operating activities	258.1	228.5	195.1
Investing activities
Expenditures for property, plant and equipment	(44.9)	(40.7)	(54.5)
Acquisitions, net of cash acquired	(23.4)	(173.6)	(213.7)
Proceeds from dispositions of long-lived assets	4.7	5.5	4.2
Cash dividend from equity method investment	1.3	0	0
Net proceeds from divestiture of discontinued operations	9	0	0
Cash used for investing activities	(53.3)	(208.8)	(264)
Financing activities
Proceeds from borrowings of debt	270.8	1,529.8	1,606.4
Repayments of debt	(369)	(1,816.2)	(1,905.3)
Payment of debt issuance costs	0	(11)	(11.8)
Deferred acquisition payment	0	0	(5.7)
Proceeds from issuance of preferred stock, net of direct offering costs	0	0	389.7
Payment of preferred stock dividends	(23.2)	(23.2)	(4.4)
Proceeds from exercise of stock options	7.9	7.2	11
Taxes withheld and paid on employees' share-based payment awards	(3.2)	(1.2)	0
Proceeds from financing lease obligations	0	5.8	0
Cash (used for) provided by financing activities	(116.7)	(308.8)	79.9
Effect of exchange rate changes on cash, cash equivalents and restricted cash	(13.2)	16.6	(5.5)
Increase (decrease) in cash, cash equivalents and restricted cash	74.9	(272.5)	5.5
Cash, cash equivalents and restricted cash at beginning of period	217.6	490.1	484.6
Cash, cash equivalents and restricted cash at end of period	$ 292.5	$ 217.6	$ 490.1

Basis of Presentation and Descr

Basis of Presentation and Description of Business	12 Months Ended
	Mar. 31, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation and Description of Business	Basis of Presentation and Description of Business The consolidated financial statements included herein have been prepared by Rexnord Corporation ("Rexnord" or the "Company"), in accordance with accounting principles generally accepted in the United States ("GAAP") pursuant to the rules and regulations of the Securities and Exchange Commission. The consolidated financial statements include the accounts of the Company and its subsidiaries. All intercompany balances and transactions have been eliminated in consolidation. In the opinion of management, the consolidated financial statements include all adjustments necessary for a fair presentation of the financial position and the results of operations for the periods presented. The Company Rexnord is a growth-oriented, multi-platform industrial company with what it believes to be leading market shares and highly-trusted brands that serve a diverse array of global end markets. The Company's heritage of innovation and specification have allowed it to provide highly-engineered, mission-critical solutions to customers for decades and affords the privilege of having long-term, valued relationships with market leaders. The Company operates in a disciplined way and its Rexnord Business System ("RBS") is the operating philosophy. Grounded in the spirit of continuous improvement, RBS creates a scalable, process-based framework that focuses on driving superior customer satisfaction and financial results by targeting world-class operating performance throughout all aspects of its business. The Company currently operates its business in two platforms - Process & Motion Control and Water Management. The Process & Motion Control platform designs, manufactures, markets and services a comprehensive range of specified, highly-engineered mechanical components used within complex systems where our customers' reliability requirements and costs of failure or downtime are high. The Process & Motion Control portfolio includes motion control products, shaft management products, aerospace components, and related value-added services. The Water Management platform designs, procures, manufactures, and markets products that provide and enhance water quality, safety, flow control and conservation. The Water Management product portfolio includes professional grade water control and safety, water distribution and drainage, finish plumbing, and site works products for primarily nonresidential buildings and flow control products for water and wastewater treatment infrastructure markets. During fiscal 2019, the Company sold the net assets of the VAG business included within the Water Management platform. As a result, in accordance with the authoritative guidance, the operating results of the VAG business are reported as discontinued operations in the consolidated statements of operations for all periods presented. See Note 4 , Discontinued Operations for additional information.

Significant Accounting Policies

Significant Accounting Policies	12 Months Ended
	Mar. 31, 2019
Accounting Policies [Abstract]
Significant Accounting Policies	Significant Accounting Policies Use of Estimates The preparation of financial statements in accordance with GAAP requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes. Actual results could differ from those estimates. Reclassifications Certain prior year amounts have been reclassified to conform to the fiscal 2019 presentation. Revenue Recognition Effective April 1, 2018, the beginning of fiscal 2019, the Company adopted Accounting Standards Codification ("ASC") 606, Revenue from Contracts with Customers ("ASC 606"), under the modified retrospective method. The modified retrospective approach recognizes any changes as of the beginning of the year of initial application (i.e., as of April 1, 2018) through retained earnings, with no restatement of comparative periods. See Note 6, Revenue Recognition for the Company's policy for recognizing revenue under ASC 606 as well as the various other disclosures required by ASC 606. Prior to fiscal year 2019, net sales were recorded upon transfer of title and risk of product loss to the customer. Net sales relating to any particular shipment are based upon the amount invoiced for the delivered goods less estimated future rebate payments and sales returns which are based upon historical experience. Revisions to these estimates are recorded in the period in which the facts that give rise to the revision become known. Other than a standard product warranty, there are no other significant post-shipment obligations. Stock-Based Compensation The Company accounts for stock based compensation in accordance with ASC 718, Accounting for Stock Compensation ("ASC 718"). ASC 718 requires compensation costs related to stock-based payment transactions to be recognized in the financial statements. Generally, compensation cost is measured based on the grant-date fair value of the equity instruments issued. Compensation cost is recognized over the requisite service period, generally as the awards vest. See further discussion of the Company’s equity plans in Note 15 , Stock-Based Compensation. Cash and Cash Equivalents The Company considers all highly liquid investments with a maturity of three months or less to be cash and cash equivalents. Receivables Receivables are stated net of allowances for doubtful accounts of $3.1 million at March 31, 2019 and $4.4 million at March 31, 2018 . The Company evaluates the collectability of its receivables and establishes the allowance for doubtful accounts based on a combination of specific customer circumstances and historical write-off experience. Credit is extended to customers based upon an evaluation of their financial position. Generally, advance payment is not required. Allowances for doubtful accounts established are recorded within Selling, general and administrative expenses within the consolidated statements of operations. Significant Customers The Company’s largest customer accounted for 8.6% , 9.2% and 9.4% of consolidated net sales for the years ended March 31, 2019 , 2018 and 2017 , respectively. Receivables related to this customer at March 31, 2019 and 2018 were $7.5 million and $8.5 million , respectively. Inventories Inventories are comprised of material, direct labor and manufacturing overhead, and are stated at the lower of cost or market. Market is determined based on estimated net realizable values. The Company’s total inventories valued using the "last-in, first-out" (LIFO) method was 62% and 59% at March 31, 2019 and 2018 , respectively. All remaining inventories are valued using the "first-in, first-out" (FIFO) method. In some cases, the Company has determined a certain portion of inventories are excess or obsolete. In those cases, the Company writes down the value of those inventories to their net realizable value based upon assumptions about future demand and market conditions. If actual market conditions are less favorable than those projected by management, adjustments to established inventory reserves may be required. The total write-down of inventories charged to expense was $3.1 million , $4.3 million and $6.5 million , during fiscal 2019 , 2018 and 2017 , respectively. Property, Plant and Equipment Property, plant and equipment are initially stated at cost. Depreciation is provided using the straight-line method over 10 to 30 years for buildings and improvements, 5 to 10 years for machinery and equipment and 3 to 5 years for computer hardware and software. Where appropriate, the depreciable lives of certain assets may be adjusted to reflect a change in the use of those assets, or depreciation may be accelerated in the case of an eventual asset disposal. The Company recognized accelerated depreciation of $3.9 million , $2.3 million , and $9.6 million during fiscal 2019 , 2018 , and 2017 , respectively. Accelerated depreciation is recorded within Cost of sales in the consolidated statements of operations. Maintenance and repair costs are expensed as incurred. Goodwill and Intangible Assets Intangible assets consist of acquired trademarks and tradenames, customer relationships (including distribution network) and patents. The customer relationships, patents, and certain tradenames are being amortized using the straight-line method over their estimated useful lives of 7 to 20 years, 3 to 15 years, and 3 to 15 years, respectively. Where appropriate, the lives of certain intangible assets may be adjusted to reflect a change in the use of those assets, or amortization may be accelerated in the case of a known intangible asset discontinuation. Goodwill, trademarks and certain tradenames have indefinite lives and are not amortized. However, the goodwill and intangible assets are tested annually for impairment, and may be tested more frequently if any triggering events occur that would reduce the recoverability of the asset. The Company performs its impairment test by comparing the fair value of a reporting unit, utilizing both an income valuation model (discounted cash flow) and market approach (guideline public company comparables), with its carrying amount. If the carrying amount exceeds the fair value of the reporting unit, an impairment charge is recognized for the amount by which the carrying amount exceeds the reporting unit's fair value. Impairment of Long-Lived Assets The carrying value of long-lived assets, including amortizable intangible assets and tangible fixed assets, are evaluated for impairment whenever events or changes in circumstances indicate that the related carrying amounts may not be recoverable. Impairment of amortizable intangible assets and tangible fixed assets is generally determined by comparing projected undiscounted cash flows to be generated by the asset, or group of assets, to its carrying value. If impairment is identified, a loss is recorded equal to the excess of the asset's net book value over its fair value, and the cost basis is adjusted accordingly. The Company recognized impairment charges in the amount of $0.3 million , $0.8 million and $1.5 million in fiscal 2019 , 2018 , and 2017 , respectively. The impairment was determined utilizing Level 3 inputs within the Fair Value hierarchy, and the Company reviewed and considered input from outside specialists, when appropriate. Actual results could vary from these estimates. Refer to Note 13 , Fair Value Measurements for additional information. Product Warranty The Company offers warranties on the sales of certain of its products and records an accrual for estimated future claims. Such accruals are based upon historical experience and management’s estimate of the level of future claims. The following table presents changes in the Company’s product warranty liability during each of the periods presented (in millions): Year Ended March 31, 2019 Year Ended March 31, 2018 Year Ended March 31, 2017 Balance at beginning of period $ 7.7 $ 6.2 $ 5.5 Acquired obligations — 1.4 0.4 Charged to operations 1.9 4.1 3.2 Claims settled (2.4 ) (4.0 ) (2.9 ) Balance at end of period $ 7.2 $ 7.7 $ 6.2 Income Taxes The Company accounts for income taxes in accordance with ASC 740, Accounting for Income Taxes ("ASC 740") . Deferred income taxes are provided for future tax effects attributable to temporary differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases, net operating losses, tax credits and other applicable carryforwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be actually paid or recovered. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in the results of continuing operations in the period that includes the date of enactment. The Company regularly reviews its deferred tax assets for recoverability and provides a valuation allowance against its deferred tax assets if, based upon consideration of all positive and negative evidence, the Company determines that it is more-likely-than-not that a portion or all of the deferred tax assets will ultimately not be realized in future tax periods. Such positive and negative evidence would include review of historical earnings and losses, anticipated future earnings, the time period over which the temporary differences and carryforwards are anticipated to reverse and implementation of feasible, prudent tax planning strategies. The Company is subject to income taxes in the United States and numerous foreign jurisdictions. Significant judgment is required in determining the Company’s worldwide provision for income taxes and recording the related deferred tax assets and liabilities. In the ordinary course of the Company’s business, there is inherent uncertainty in quantifying the ultimate tax outcome of all of the numerous transactions and required calculations relating to the Company’s tax positions. Accruals for unrecognized tax benefits are provided for in accordance with the requirements of ASC 740 . An unrecognized tax benefit represents the difference between the recognition of benefits related to uncertain tax positions for income tax reporting purposes and financial reporting purposes. The Company has established a reserve for interest and penalties, as applicable, for uncertain tax positions and it is recorded as a component of the overall income tax provision. The Company is subject to periodic income tax examinations by domestic and foreign income tax authorities. Although the outcome of income tax examinations is always uncertain, the Company believes that it has appropriate support for the positions taken on its income tax returns and has adequately provided for potential income tax assessments. Nonetheless, the amounts ultimately settled relating to issues raised by the taxing authorities may differ materially from the amounts accrued for each year. See Note 17 , Income Taxes for additional information. Per Share Data Basic net income (loss) per share from continuing and discontinued operations attributable to Rexnord common stockholders is computed by dividing net income from continuing operations and loss from discontinued operations attributable to Rexnord common stockholders, respectively, by the corresponding weighted average number of common shares outstanding for the period. Diluted net income (loss) per share from continuing and discontinued operations attributable to Rexnord common stockholders is computed based on the weighted average number of common shares outstanding, increased by the number of incremental shares that would have been outstanding if the potential dilutive shares were issued through the exercise of outstanding stock options to purchase common shares, except when the effect would be anti-dilutive. Additionally, following the issuance of the 5.75% Series A Mandatory Convertible Preferred Stock ("Series A Preferred Stock") in fiscal 2017, the Company’s diluted net income per share is computed using the "if-converted" method. The "if-converted" method is utilized only when such calculation is dilutive to earnings per share using the treasury stock method. Under the "if-converted" method, diluted net income per share is calculated under the assumption that the shares of Series A Preferred Stock have been converted into shares of the Company’s common stock as of the beginning of the respective period, and therefore no dividends are provided to holders of the Series A Preferred Stock. The computation for diluted net income per share for the fiscal years ended March 31, 2019 , 2018 and 2017 excludes 1.0 million, 2.6 million and 4.6 million shares due to their anti-dilutive effects, respectively. Additionally, during the fiscal year ended March 31, 2017, the computation of diluted net income per share does not include shares of preferred stock that are convertible into a weighted average of 5.8 million shares of common stock due to their anti-dilutive effects. The following table presents the basis for income per share computations (in millions, except share amounts, which are in thousands): Years Ended March 31, 2019 March 31, 2018 March 31, 2017 Basic net (loss) income per share attributable to Rexnord common stockholders Numerator: Net income from continuing operations $ 189.0 $ 206.6 $ 91.7 Less: Non-controlling interest income — 0.1 — Less: Dividends on preferred stock 23.2 23.2 7.3 Net income from continuing operations attributable to Rexnord common stockholders $ 165.8 $ 183.3 $ 84.4 Loss from discontinued operations, net of tax $ (154.7 ) $ (130.6 ) $ (17.6 ) Net income attributable to Rexnord common stockholders $ 11.1 $ 52.7 $ 66.8 Denominator: Weighted-average common shares outstanding, basic 104,640 103,889 102,753 Diluted net (loss) income per share attributable to Rexnord common stockholders Numerator: Net income from continuing operations $ 189.0 $ 206.6 $ 91.7 Less: Non-controlling interest income — 0.1 — Less: Dividends on preferred stock (1) — — 7.3 Net income from continuing operations attributable to Rexnord common stockholders $ 189.0 $ 206.5 $ 84.4 Loss from discontinued operations, net of tax $ (154.7 ) $ (130.6 ) $ (17.6 ) Net income attributable to Rexnord common stockholders 11.1 52.7 66.8 Plus: Dividends on preferred stock (1) 23.2 23.2 — Net income attributable to Rexnord common stockholders $ 34.3 $ 75.9 $ 66.8 Denominator: Weighted-average common shares outstanding, basic 104,640 103,889 102,753 Effect of dilutive equity awards 2,710 2,110 2,031 Preferred stock under the "if-converted" method 15,979 15,985 — Weighted-average common shares outstanding, diluted 123,329 121,984 104,784 ____________________ (1) The "if-converted" method was dilutive for the fiscal years ended March 31, 2019 and 2018. Accumulated Other Comprehensive Loss The changes in accumulated other comprehensive loss, net of tax, for the fiscal years ending March 31, 2019 , 2018 and 2017 are as follows (in millions): Interest Rate Derivatives Foreign Currency Translation Pension and Postretirement Plans Total Balance at March 31, 2016 $ (16.9 ) $ (86.5 ) $ (35.6 ) $ (139.0 ) Other comprehensive income (loss) before reclassifications 1.1 (12.8 ) 9.2 (2.5 ) Amounts reclassified from accumulated other comprehensive income (loss) 6.3 — (1.8 ) 4.5 Net current period other comprehensive income (loss) 7.4 (12.8 ) 7.4 2.0 Balance at March 31, 2017 $ (9.5 ) $ (99.3 ) $ (28.2 ) $ (137.0 ) Other comprehensive income before reclassifications — 57.1 1.4 58.5 Amounts reclassified from accumulated other comprehensive income (loss) 5.8 — (1.4 ) 4.4 Net current period other comprehensive income 5.8 57.1 — 62.9 Balance at March 31, 2018 $ (3.7 ) $ (42.2 ) $ (28.2 ) $ (74.1 ) Other comprehensive income before reclassifications — (39.4 ) (8.5 ) (47.9 ) Amounts reclassified from accumulated other comprehensive income (loss) 4.5 21.5 (0.6 ) 25.4 Net current period other comprehensive income (loss) 4.5 (17.9 ) (9.1 ) (22.5 ) Balance at March 31, 2019 $ 0.8 $ (60.1 ) $ (37.3 ) $ (96.6 ) The following table summarizes the amounts reclassified from accumulated other comprehensive loss to net income during the fiscal years ending March 31, 2019 , 2018 and 2017 (in millions): Pension and postretirement plans Year Ending March 31, 2019 Year Ending March 31, 2018 Year Ending March 31, 2017 Income Statement Line Item Amortization of prior service credit $ (1.5 ) $ (1.9 ) $ (1.9 ) Other expense (income), net Lump Sum Settlement 0.6 — — Other expense (income), net Curtailment — (0.3 ) (1.0 ) Other expense (income), net Provision for income taxes 0.3 0.8 1.1 Total, net of income taxes $ (0.6 ) $ (1.4 ) $ (1.8 ) Interest rate derivatives Net realized losses on interest rate derivatives $ 5.7 $ 9.7 $ 10.2 Interest expense, net Benefit for income taxes (1.2 ) (3.9 ) (3.9 ) Total, net of income taxes $ 4.5 $ 5.8 $ 6.3 Foreign Currency Translation Reclassification on sale of business $ 19.7 $ — $ — Loss from discontinued operations, net of tax Reclassification on acquisition of equity method investment 1.8 — — Other expense (income), net Total $ 21.5 $ — $ — Derivative Financial Instruments The Company is exposed to certain financial risks relating to fluctuations in foreign currency exchange rates and interest rates. The Company selectively uses foreign currency forward contracts and interest rate derivatives to manage its foreign currency and interest rate risks. All hedging transactions are authorized and executed pursuant to defined policies and procedures which prohibit the use of financial instruments for speculative purposes. For the derivative instruments designated and qualifying as effective hedging instruments under ASC 815, Accounting for Derivative Instruments and Hedging Activities ("ASC 815"), the changes in the fair value of the effective portion of the instrument are recognized in accumulated other comprehensive loss whereas any changes in the fair value of a derivative instrument that is not designated or does not qualify as an effective hedge are recorded in other non-operating expense. See Note 12 , Derivative Financial Instruments for further information regarding the classification and accounting of such instruments. Financial Instrument Counterparties The Company is exposed to credit losses in the event of non-performance by counterparties to its financial instruments. The Company anticipates, however, that counterparties will be able to fully satisfy their obligations under these instruments. The Company places cash and temporary investments and foreign currency and interest rate swap and cap contracts with various high-quality financial institutions. Although the Company does not obtain collateral or other security to support these financial instruments, it does periodically evaluate the credit-worthiness of each of its counterparties. Foreign Currency Translation Assets and liabilities of subsidiaries operating outside of the United States with a functional currency other than the U.S. dollar are translated into U.S. dollars using exchange rates at the end of the respective period. Revenues and expenses of such entities are translated at average exchange rates in effect during the respective period. Foreign currency translation adjustments are included as a component of accumulated other comprehensive loss. The Company periodically enters into foreign currency forward contracts to mitigate foreign currency volatility on certain intercompany and external cash flows expected to occur. See Note 12, Derivative Financial Instruments for additional information. Currency transaction losses are included in other expense (income), net in the consolidated statements of operations and totaled $1.9 million , $0.2 million and $3.6 million for the years ended March 31, 2019 , 2018 and 2017 , respectively. Advertising Costs Advertising costs are charged to selling, general and administrative expenses on the consolidated statements of operations as incurred and amounted to $11.9 million , $10.7 million , and $9.1 million for the years ended March 31, 2019 , 2018 and 2017 , respectively. Research, Development and Engineering Costs Research, development and engineering costs are charged to selling, general and administrative expenses on the consolidated statements of operations as incurred and for the years ended March 31, 2019 , 2018 and 2017 amounted to the following (in millions): Year Ended March 31, 2019 Year Ended March 31, 2018 Year Ended March 31, 2017 Research and development costs $ 16.3 $ 13.3 $ 10.4 Engineering costs 25.4 22.5 24.6 Total $ 41.7 $ 35.8 $ 35.0 Concentrations of Credit Risk Financial instruments that potentially subject the Company to significant concentrations of credit risk consist of cash and temporary investments, forward currency contracts and trade accounts receivable. Recent Accounting Pronouncements In August 2018, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") 2018-14, Compensation - Retirement Benefits - Defined Benefit Plans - General (Subtopic 715-20): Disclosure Framework - Changes to the Disclosure Requirements for Defined Benefit Plans ("ASU 2018-14"), which updates the standard to remove disclosures that no longer are considered cost beneficial, clarifies the specific requirements of disclosures, and adds disclosure requirements identified as relevant. ASU 2018-14 is effective for the Company in fiscal 2021 on a retroactive basis. The Company is currently evaluating the impact this guidance will have on its consolidated financial statements upon adoption. In August 2018, the FASB issued ASU No. 2018-13, Fair Value Measurement (Topic 820): Disclosure Framework - Changes to the Disclosure Requirements for Fair Value Measurement ("ASU 2018-13"), which modifies the disclosure requirements in ASC 820, Fair Value Measurement ("ASC 820"). ASU 2018-13 is effective for the Company in fiscal 2020. Amendments related to changes in unrealized gains and losses, the range and weighted average of significant unobservable inputs used to develop Level 3 fair value measurements, and the narrative description of measurement uncertainty will be applied prospectively for only the most recent interim or annual period presented in the initial fiscal year of adoption. All other amendments will be applied retrospectively to all periods presented upon the effective date. The Company is currently evaluating the impact this guidance will have on its consolidated financial statements upon adoption. In February 2018, the FASB issued ASU 2018-02, Income Statement - Reporting Comprehensive Income (Topic 220): Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income ("ASU 2018-02"), which gives entities the option to reclassify from accumulated other comprehensive income to retained earnings for stranded tax effects resulting from the Tax Cuts and Jobs Act. Consequently, the amendments eliminate the stranded tax effects resulting from the Tax Cuts and Jobs Act. ASU 2018-02 if effective for the Company's fiscal 2020 and interim periods included therein, and is to be applied either in the period of adoption or on a retrospective basis to each period affected. The Company is currently evaluating the impact of this guidance and has not determined whether it will elect to reclassify stranded amounts; however, the adoption of ASU 2018-02 is not expected to have a material effect on its consolidated financial statements. In August 2017, the FASB issued ASU 2017-12, Derivatives and Hedging - Targeted Improvements to Accounting for Hedging Activities ("ASU 2017-12"), which expands and refines hedge accounting for both non-financial and financial risk components and aligns the recognition and presentation of the effects of the hedging instrument and the hedged item in the financial statements. ASU 2017-12 is effective for the beginning of the Company's fiscal 2020, with early adoption permitted, and must be applied prospectively. The Company is currently evaluating the impact this guidance will have on its consolidated financial statements upon adoption. In March 2017, the FASB issued ASU No. 2017-07, Compensation - Retirement Benefits (Topic 715): Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost , which changes how employers that sponsor defined benefit pension or other postretirement benefit plans present the net periodic benefit cost in the income statement. The new guidance requires the service cost component of net periodic benefit cost to be presented in the same income statement line item(s) as other employee compensation costs arising from services rendered during the period with only the service cost component eligible for capitalization in assets. Other components of the net periodic benefit cost are to be stated separately from the line item(s) that includes the service cost and outside of operating income. The Company adopted ASU 2017-07 on April 1, 2018 on a retrospective basis, which resulted in the reclassification of certain amounts from "Cost of sales" and "Selling, general and administrative expenses" to "Other expense (income), net" in the consolidated statements of operations. As a result, prior period amounts impacted have been revised accordingly. The adoption of ASU 2017-07 resulted in the reclassification of $2.5 million and $2.2 million of net periodic benefit credits previously recorded within "Costs of sales" and $0.7 million and zero of net periodic benefit credits previously recorded within "Selling, general and administrative expenses," to "Other income, net" on the consolidated statements of operations for the years ended March 31, 2018 and 2017, respectively. The adoption also resulted in a reclassification of $3.3 million and $2.6 million of actuarial gains on pension and postretirement obligations to "Other income, net" which was previously recorded within "Actuarial (gain) loss on pension and postretirement benefit obligations," on the consolidated statements of operations for the years ended March 31, 2018 and 2017, respectively. In February 2015, the FASB issued ASU 2016-02, Leases (Topic 842) ("ASU 2016-02''), which requires lessees to recognize lease assets and lease liabilities for all leases on the balance sheets. ASU 2016-02 is effective beginning for the Company's fiscal 2020 and interim periods included within. In July 2018, the FASB also issued ASU 2018-11, Leases (Topic 842): Targeted Improvements , which provides a transition method that allows the initial application of the lease standard at the adoption date using a cumulative-effect adjustment to the opening balance of retained earnings in the period of adoption. Under this transition method, comparative periods would continue to be reported in accordance with historical ASC 840 lease accounting guidance. The Company plans to adopt this standard using this transition method and will not restate comparative periods. The Company additionally plans to elect the package of practical expedients that allows the Company's determination of whether a lease exists, whether initial direct costs exist, and the determination of lease classification under historical ASC 840 lease guidance to be carried forward in transition to ASC 842, as well as the practical expedient to combine lease and non-lease components for all asset classes. The Company has made a policy election not to capitalize leases with an initial term of 12 months or less. While the assessment of the impact this new standard will have on the consolidated financial statements is ongoing, the Company expects the adoption of the new standard to result in the recording of additional lease assets and liabilities of approximately $65 million to $75 million as of April 1, 2019, and does not expect the cumulative-effect adjustment to the opening balance to be material due to the package of practical expedients elected. The Company does not anticipate that the standard will have a material impact on its consolidated net earnings or statement of cash flows. In May 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers ("ASU 2014-09"), to establish a single comprehensive model for entities to use in accounting for revenue arising from contracts with customers. ASU 2014-09 superseded most of the existing revenue recognition guidance. The Company adopted ASU 2014-09 effective April 1, 2018, using the modified retrospective method. The modified retrospective transition method recognizes any changes as of the beginning of the year of initial application (i.e., as of April 1, 2018) through retained earnings, with no restatement of comparative periods. The adoption of ASU 2014-09 did not have a significant impact on the Company’s consolidated results of operations, financial position and cash flows. See more information related to the adoption of ASU 2014-09 within Note 6, Revenue Recognition.

Acquisitions

Acquisitions	12 Months Ended
	Mar. 31, 2019
Business Combinations [Abstract]
Acquisitions	Acquisitions Fiscal Year 2019 On January 23, 2019, the Company acquired an additional 47.5% interest in Centa MP (Hong Kong) Co., Limited ("Centa China"), a joint venture in which the Company previously maintained a 47.5% non-controlling interest, for $21.4 million , net of cash held by the former joint venture. The acquisition of the additional interest in Centa China, a manufacturer and distributor of premium flexible couplings and drive shafts for industrial, marine, rail and power generation applications within the Company's Process & Motion Control platform, provides the Company with the opportunity to expand its product offerings within its Asia Pacific end markets. Prior to this transaction, the Company accounted for its non-controlling interest in Centa China as an equity method investment. The acquisition of the additional 47.5% interest was considered to be an acquisition achieved in stages, whereby the Company remeasured the previously held equity method investment to fair value. The Company considered multiple factors in determining the fair value of the previously held equity method investment, including (i) the price negotiated with the selling shareholder for the 47.5% equity interest in Centa China, (ii) an income valuation model (discounted cash flow), and (iii) current trading multiples for comparable companies. Based on this analysis, the Company recognized a $0.2 million gain on the remeasurement of the previously held equity method investment. In addition, in accordance with the authoritative guidance, the Company reclassified the historical foreign currency translation adjustments associated with the equity method investment into the statement of operations, which resulted in the recognition of a $1.8 million loss within other (expense) income, net, on the consolidated statements of operations for fiscal 2019. The preliminary purchase price for this business combination is estimated as follows (in millions): Fair value of consideration transferred: Cash paid, net of cash acquired $ 21.4 Other items to be allocated to identifiable assets acquired and liabilities assumed Book value of investment in Centa China at the acquisition date 21.8 Gain recognized from step acquisition 0.2 Fair value of remaining non-controlling interest 2.3 Total $ 45.7 The Company allocated the preliminary purchase price to the fair value of assets acquired and liabilities assumed at the acquisition date. The excess of the acquisition purchase price over the fair value assigned to the assets acquired and liabilities assumed was recorded as goodwill. The preliminary purchase price allocation associated with this acquisition resulted in non-tax deductible goodwill of $20.1 million , other intangible assets of $18.9 million (including tradenames of $1.3 million and $17.6 million of customer relationships), $8.9 million of trade working capital and other net liabilities of $2.2 million . The Company is continuing to evaluate the initial purchase price allocations primarily related to the fair values assigned to intangible assets as well as the finalization of the related income tax analysis for this acquisition, which will be completed within the one year period following the acquisition date. The Company's results of operations include the acquired operations subsequent to the respective acquisition dates. Pro-forma results of operations and certain other U.S. GAAP disclosures related to the acquisitions during the fiscal year ended March 31, 2019 have not been presented because they are not significant to the Company's consolidated statements of operations or financial position. On September 24, 2018, the Company acquired certain assets associated with the design and distribution of various roof drains, spouts and flow sensors for institutional, commercial and industrial buildings for $2.0 million . The acquisition of these assets added complementary product lines to the Company's existing Water Management platform and was accounted for as a business combination. This acquisition did not materially affect the Company's consolidated statements of operations or financial position. Fiscal Year 2018 On February 9, 2018, the Company acquired Centa Power Transmission (Centa Antriebe Kirschey GmbH) ("Centa"), a leading manufacturer of premium flexible couplings and drive shafts for industrial, marine, rail and power generation applications. The purchase price was $129.7 million plus assumed debt. The purchase price is comprised of $123.6 million paid at closing and $6.1 million of deferred purchase price payable in fiscal 2020. Cash payments made after the acquisition date are settled in Euros based on prevailing exchange rates at the time of payment. Centa, headquartered in Haan, Germany, added complementary product lines to the Company's existing Process & Motion Control platform. On October 4, 2017, the Company acquired World Dryer Corporation ("World Dryer") for a cash purchase price of $50.0 million , excluding transaction costs and net of cash acquired. World Dryer is a leading global manufacturer of commercial electric hand dryers. This acquisition added complementary product lines to the Company's existing Water Management platform. The Company's results of operations include the acquired operations subsequent to the respective acquisition dates. Pro-forma results of operations and certain other U.S. GAAP disclosures related to the acquisitions during the fiscal year ended March 31, 2018 have not been presented because they are not significant to the Company's consolidated statements of operations or financial position. The fiscal 2018 acquisitions were accounted for as business combinations and recorded by allocating the purchase price to the fair value of assets acquired and liabilities assumed at the acquisition date. The excess of the acquisition purchase price over the fair value assigned to the assets acquired and liabilities assumed was recorded as goodwill. The preliminary purchase price allocations, which were finalized during the fourth quarter of fiscal 2019, were adjusted during fiscal 2019 primarily in connection with determining the fair value of fixed assets acquired and acquisition date trade working capital. The purchase price allocation associated with the fiscal 2018 acquisitions resulted in non-tax deductible goodwill of $63.5 million , other intangible assets of $44.9 million (includes tradenames of $9.9 million , $29.4 million of customer relationships and $5.6 million of patents), $37.5 million of trade working capital, $52.7 million of fixed assets, $16.6 million of long-term debt and other net liabilities of $2.3 million . Fiscal Year 2017 On June 1, 2016, the Company acquired Cambridge International Holdings Corp. ("Cambridge") for a cash purchase price of $213.4 million , excluding transaction costs and net of cash acquired. Cambridge, with operations in Cambridge, Maryland and Matamoros, Mexico, is one of the world's largest suppliers of metal conveying and engineered woven metal solutions, primarily used in food processing end markets, as well as in architectural, packaging and filtration applications. The acquisition of Cambridge expanded the Company's presence in consumer-driven end markets in the Process & Motion Control platform. The Company's results of operations include the acquired operations subsequent to June 1, 2016. Pro-forma results of operations and certain other U.S. GAAP disclosures related to the Cambridge acquisition have not been presented because they are not material to the Company's consolidated statements of operations or financial position. The acquisition of Cambridge was accounted for as a business combination and recorded by allocating the purchase price to the fair value of assets acquired and liabilities assumed at the acquisition date. The excess of the acquisition purchase price over the fair value assigned to the assets acquired and liabilities assumed was recorded as goodwill. The purchase price allocation resulted in non-tax deductible goodwill of $129.4 million , other intangible assets of $80.6 million (includes tradenames of $16.8 million , customer relationships of $58.3 million and patents of $5.5 million ) and other net assets of $3.4 million .

Discontinued Operations

Discontinued Operations	12 Months Ended
	Mar. 31, 2019
Discontinued Operations and Disposal Groups [Abstract]
Discontinued Operations	Discontinued Operations During fiscal 2019, the Company's Board of Directors approved a plan to sell the net assets of the VAG business, which was previously included within the Water Management platform. The operating results of the VAG business are reported as discontinued operations in the consolidated statements of operations for all periods presented, as the sale of VAG represented a strategic shift that had a major impact on operations and financial results. On November 26, 2018, the Company completed the sale of the VAG business. Net proceeds from the sale were $9.0 million and included gross proceeds of $21.5 million , less fees and VAG cash and cash equivalents included in the sale. The purchase price is subject to customary working capital and cash balance adjustments that have not been finalized with the buyer as of the date of this filing, therefore, the purchase price is subject to change. The sale agreement also provides for the Company to receive contingent consideration of up to an additional $20.0 million based on, and subject to, the VAG business attainment of Earn-out EBITDA, as defined in the sale agreement, in the Company’s fiscal years ended March 31, 2019, and ending March 31, 2020 and 2021; however, the Company does not anticipate it will receive the $5.0 million of potential contingent consideration associated with fiscal 2019 performance, although a final determination has not been made. In connection with the completed sale of VAG, Company recorded a non-cash pre-tax loss on the sale of VAG of $22.5 million during fiscal 2019 resulting primarily from the reclassification of historical foreign currency translation adjustments into the statement of operations. The major components of the Loss from discontinued operations, net of tax associated with the VAG business presented in the consolidated statements of operations during the fiscal years ended March 31, 2019, 2018 and 2017 are included in the table below (in millions): Fiscal Years Ended March 31, 2019 (1) March 31, 2018 March 31, 2017 Net sales $ 124.3 $ 214.4 $ 205.7 Cost of sales 94.9 166.5 166.3 Selling, general and administrative expenses 35.1 56.5 57.2 Restructuring and other similar charges — 4.7 5.5 Amortization of intangible assets 0.3 1.4 1.1 Non-cash asset impairments (2) 126.0 111.2 — Loss on sale of discontinued operations 22.5 — — Other non-operating expenses, net 3.2 4.7 0.9 Loss from discontinued operations before income tax (157.7 ) (130.6 ) (25.3 ) Income tax benefit 3.0 — 7.7 Loss from discontinued operations, net of tax $ (154.7 ) $ (130.6 ) $ (17.6 ) ____________________ (1) Results from operations in fiscal 2019 reflect the period through November 26, 2018, the date on which the sale of the VAG business was completed. (2) During the fourth quarter of fiscal 2018, the Company performed an interim assessment of the VAG reporting unit's goodwill for impairment following the Company’s decision to explore strategic alternatives. The fair value of the VAG reporting unit was estimated using both an income valuation model (discounted cash flow) and a market approach based on the estimated selling price in the then-current market environment. As a result of the assessment, the Company recognized a non-cash goodwill impairment charge in fiscal 2018 of $111.2 million . Upon the Company’s Board of Directors approving management’s plan to sell the VAG business in the first quarter of fiscal 2019, the net assets of the VAG business were reclassified as held for sale in accordance with the authoritative guidance. Accordingly, during the period leading up to the final disposition of VAG, the Company continuously assessed the carrying value of the net assets of the VAG business compared to the value expected to be obtained in the sale process. As a result of this assessment, the Company recorded additional non-cash asset impairment charges in fiscal 2019 of $126.0 million . The carrying amounts of major classes of assets and liabilities associated with the VAG business included as part of discontinued operations presented in the consolidated balance sheet as of March 31, 2018 are as follows (in millions): March 31, 2018 Assets Cash and cash equivalents $ 24.4 Receivables, net 58.5 Inventories 40.7 Other current assets 6.7 Total current assets held for sale $ 130.3 Property, plant and equipment, net $ 59.9 Intangible assets, net 46.6 Other assets 2.0 Total non-current assets held for sale $ 108.5 Liabilities Trade payables $ 36.1 Compensation and benefits 6.1 Other current liabilities 22.9 Total current liabilities held for sale $ 65.1 Deferred income taxes $ 7.3 Other liabilities 6.5 Total non-current liabilities held for sale $ 13.8 The consolidated statements of cash flows for the current and prior periods presented have not been adjusted to separately disclose cash flows related to discontinued operations. However, the significant investing cash flows and other significant non-cash operating items associated with the discontinued operations were as follows (in millions): Fiscal Years Ended March 31, 2019 March 31, 2018 March 31, 2017 Depreciation $ 4.1 $ 8.6 $ 8.2 Amortization of intangible assets 0.3 1.4 1.1 Non-cash discontinued operations asset impairments 126.0 111.2 — Non-cash loss on sale of discontinued operations 22.5 — — Stock-based compensation — 0.5 0.3 Capital expenditures 2.4 2.7 3.7 Net proceeds from divestiture of discontinued operations 9.0 — —

Restructuring and Other Similar

Restructuring and Other Similar Charges	12 Months Ended
	Mar. 31, 2019
Restructuring and Related Activities [Abstract]
Restructuring and Other Similar Charges	Restructuring and Other Similar Charges During fiscal 2019 , the Company continued to execute various restructuring actions. These initiatives were implemented to drive efficiencies and reduce operating costs while also modifying the Company's footprint to reflect changes in the markets it serves, the impact of acquisitions on the Company's overall manufacturing capacity and the refinement of its overall product portfolio. These restructuring actions primarily resulted in workforce reductions, lease termination costs, and other facility rationalization costs. Management expects to continue executing similar initiatives to optimize its operating margin and manufacturing footprint. As such, the Company expects further expenses related to workforce reductions, potential impairment or accelerated depreciation of assets, lease termination costs, and other facility rationalization costs. The Company's restructuring plans are preliminary and the full extent of related expenses are not yet estimable. The following table summarizes the Company's restructuring and other similar costs incurred during the years ended March 31, 2019 , 2018 and 2017 by classification of operating segment (in millions): Year Ended March 31, 2019 Process & Motion Control Water Management Corporate Consolidated Employee termination benefits $ 5.6 $ 0.9 $ 0.6 $ 7.1 Asset impairment charges (1) 0.3 — — 0.3 Contract termination and other associated costs 2.0 0.3 2.4 4.7 Total restructuring and other similar costs $ 7.9 $ 1.2 $ 3.0 $ 12.1 Year Ended March 31, 2018 Process & Motion Control Water Management Corporate Consolidated Employee termination benefits $ 4.6 $ 0.6 $ — $ 5.2 Asset impairment charges (1) 0.8 — — 0.8 Contract termination and other associated costs 7.9 0.2 — 8.1 Total restructuring and other similar costs $ 13.3 $ 0.8 $ — $ 14.1 Year Ended March 31, 2017 Process & Motion Control Water Management Corporate Consolidated Employee termination benefits $ 16.5 $ 1.5 $ — $ 18.0 Asset impairment charges (1) 1.5 $ — $ — 1.5 Contract termination and other associated costs 5.4 1.2 — 6.6 Total restructuring and other similar costs $ 23.4 $ 2.7 $ — $ 26.1 Restructuring Costs To-date (Period from April 1, 2011 to March 31, 2019) Process & Motion Control Water Management Corporate Consolidated Employee termination benefits $ 54.5 $ 8.1 $ 2.6 $ 65.2 Asset impairment charges 3.6 — — 3.6 Contract termination and other associated costs 19.7 4.4 2.4 26.5 Total restructuring and other similar costs $ 77.8 $ 12.5 $ 5.0 $ 95.3 ____________________ (1) In connection with the ongoing supply chain optimization and footprint repositioning initiatives, the Company has taken several actions to consolidate existing manufacturing facilities and rationalize its product offerings. These actions require the Company to assess whether the carrying amount of impacted long-lived assets will be recoverable as well as whether the remaining useful lives require adjustment. The impairment charges associated with these assets recognized during fiscal 2019 , 2018 and 2017 were determined utilizing independent appraisals of the assets and were classified as Level 3 inputs within the Fair Value hierarchy. Refer to Note 13 , Fair Value Measurements for additional information. The following table summarizes the activity in the Company's accrual for restructuring and other similar costs for the fiscal years ended March 31, 2019 and 2018 (in millions): Employee termination benefits Asset impairment charges Contract termination and other associated costs Total Accrued Restructuring Costs, March 31, 2017 (2) $ 10.8 $ — $ — $ 10.8 Charges 5.2 0.8 8.1 14.1 Cash payments (13.7 ) — (7.8 ) (21.5 ) Non-cash charges — (0.8 ) — (0.8 ) Accrued Restructuring Costs, March 31, 2018 (2) $ 2.3 $ — $ 0.3 $ 2.6 Charges 7.1 0.3 4.7 12.1 Cash payments (7.0 ) — (3.1 ) (10.1 ) Non-cash charges — (0.3 ) — (0.3 ) Accrued Restructuring Costs, March 31, 2019 (2) $ 2.4 $ — $ 1.9 $ 4.3 ____________________ (2) The restructuring accrual is included in Other current liabilities on the consolidated balance sheets.

Revenue Recognition

Revenue Recognition	12 Months Ended
	Mar. 31, 2019
Revenue from Contract with Customer [Abstract]
Revenue Recognition	Revenue Recognition A performance obligation is a promise in a contract to transfer a distinct good or service to the customer, and is the unit of account in ASC 606. A contract’s transaction price is allocated to each distinct performance obligation and revenue is recognized when obligations under the terms of a contract with the customer are satisfied. For the majority of the Company's product sales, revenue is recognized at a point-in-time when control of the product is transferred to the customer, which generally occurs when the product is shipped from the Company's manufacturing facility to the customer. When contracts include multiple products to be delivered to the customer, generally each product is separately priced and is determined to be distinct within the context of the contract. Other than a standard assurance-type warranty that the product will conform to agreed-upon specifications, there are generally no other significant post-shipment obligations. The expected costs associated with standard warranties continues to be recognized as an expense when the products are sold. When the contract provides the customer the right to return eligible products or when the customer is part of a sales rebate program, the Company reduces revenue at the point of sale using current facts and historical experience by using an estimate for expected product returns and rebates associated with the transaction. The Company adjusts these estimates at the earlier of when the most likely amount of consideration that is expected to be received changes or when the consideration becomes fixed. Accordingly, an increase or decrease to revenue is recognized at that time. Sales and other taxes collected concurrent with revenue-producing activities are excluded from revenue. The Company has elected to recognize the cost for freight and shipping when control of products has transferred to the customer as a component of cost of sales in the consolidated statements of operations. The Company classifies shipping and handling fees billed to customers as net sales and the corresponding costs are classified as cost of sales in the consolidated statements of operations. Revenue by Category The Company has two business segments, Process & Motion Control and Water Management. The following table presents our revenue disaggregated by customer type and geography (in millions): Year Ended March 31, 2019 March 31, 2018 March 31, 2017 Original equipment manufacturers/end users $ 768.5 $ 690.5 $ 594.6 Maintenance, repair, and operations 612.1 550.7 540.1 Total Process & Motion Control $ 1,380.6 $ 1,241.2 $ 1,134.7 Water safety, quality, flow control and conservation $ 624.4 $ 566.9 $ 538.9 Water infrastructure 45.9 43.5 38.9 Total Water Management $ 670.3 $ 610.4 $ 577.8 Year Ended March 31, 2019 Year Ended March 31, 2018 Year Ended March 31, 2017 Process & Motion Control Water Management Process & Motion Control Water Management Process & Motion Control Water Management United States and Canada $ 898.7 $ 654.5 $ 848.3 $ 598.4 $ 795.0 $ 568.2 Europe 327.5 — 255.5 — 218.9 — Rest of world 154.4 15.8 137.4 12.0 120.8 9.6 Total $ 1,380.6 $ 670.3 $ 1,241.2 $ 610.4 $ 1,134.7 $ 577.8 Contract Balances For substantially all of the Company's Process & Motion Control and Water Management product sales, the customer is billed 100% of the contract value when the product ships and payment is generally due 30 days from shipment. Certain contracts include longer payment periods; however, the Company has elected to utilize the practical expedient in which the Company will only recognize a financing component to the sale if payment is due more than one year from the date of shipment. The Company receives payment from customers based on the contractual billing schedule and specific performance requirements established in the contract. Billings are recorded as accounts receivable when an unconditional right to the contractual consideration exists. Contract assets arise when the Company performs by transferring goods or services to a customer before the customer pays consideration, or before the customer’s payment is due. A contract liability exists when the Company has received consideration or the amount is due from the customer in advance of revenue recognition. Contract liabilities and contract assets are recognized in Other current liabilities and Receivables, net, respectively, in the Company's consolidated balance sheets. The following table presents changes in the Company’s contract assets and liabilities during the year ended March 31, 2019 (in millions): Balance Sheet Classification March 31, 2018 Additions Deductions March 31, 2019 Contract Assets Receivables, net $ 0.7 $ 3.7 $ (1.8 ) $ 2.6 Contract Liabilities (1) Other current liabilities $ 3.2 $ 15.3 $ (13.4 ) $ 5.1 ____________________ (1) Contract liabilities are reduced when revenue is recognized. Backlog The Company has backlog of $372.5 million and $329.9 million as of March 31, 2019 and March 31, 2018 , respectively, which represents the most likely amount of consideration expected to be received in satisfying the remaining backlog under open contracts. The Company has elected to use the optional exemption provided by ASC 606-10-50-14A for variable consideration, and has not included estimated rebates in the amount of unsatisfied performance obligations. The Company expects to recognize approximately 94% of the backlog as revenue in fiscal 2020 and the remaining 6% in fiscal 2021 and beyond. Timing of Performance Obligations Satisfied at a Point in Time The Company determined that the customer is able to control the product when it is delivered to them; thus, depending on the shipping terms, control will transfer at different points between the Company's manufacturing facility or warehouse and the customer’s location. The Company considers control to have transferred upon shipment or delivery because the Company has a present right to payment at that time, the customer has legal title to the asset, the Company has transferred physical possession of the asset, and the customer has significant risks and rewards of ownership of the asset. Variable Consideration The Company provides volume-based rebates and the right to return product to certain customers, which are accrued for based on current facts and historical experience. Rebates are paid either on an annual or quarterly basis. There are no other significant variable consideration elements included in the Company's contracts with customers. Contract Costs The Company has elected to expense contract costs as incurred if the amortization period is expected to be one year or less. If the amortization period of these costs is expected to be greater than one year, the costs would be subject to capitalization. As of March 31, 2019 , the contract assets capitalized, as well as amortization recognized in fiscal 2019, are not significant and there have been no impairment losses recognized.

Inventories

Inventories	12 Months Ended
	Mar. 31, 2019
Inventory Disclosure [Abstract]
Inventories	Inventories The major classes of inventories are summarized as follows (in millions): March 31, 2019 2018 Finished goods $ 147.3 $ 134.2 Work in progress 39.8 35.2 Purchased components 76.7 76.0 Raw materials 53.9 53.2 Inventories at First-in, First-Out ("FIFO") cost 317.7 298.6 Adjustment to state inventories at Last-in, First-Out ("LIFO") cost (1.2 ) 5.5 $ 316.5 $ 304.1

Property, Plant and Equipment

Property, Plant and Equipment	12 Months Ended
	Mar. 31, 2019
Property, Plant and Equipment [Abstract]
Property, Plant and Equipment	Property, Plant and Equipment Property, plant and equipment, net is summarized as follows (in millions): March 31, 2019 2018 Land $ 25.7 $ 30.6 Buildings and improvements 227.5 229.9 Machinery and equipment 350.9 370.5 Hardware and software 64.4 62.6 Construction in-progress 27.9 35.6 696.4 729.2 Less accumulated depreciation (313.4 ) (332.7 ) $ 383.0 $ 396.5

Goodwill and Intangible Assets

Goodwill and Intangible Assets	12 Months Ended
	Mar. 31, 2019
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Intangible Assets	Goodwill and Intangible Assets The changes in the net carrying value of goodwill for the years ended March 31, 2019 and 2018 by operating segment, consisted of the following (in millions): Goodwill Process & Motion Control Water Management Consolidated Net carrying amount as of March 31, 2017 $ 1,068.8 $ 147.7 $ 1,216.5 Acquisitions (1) 29.5 25.7 55.2 Currency translation adjustments 4.2 0.2 4.4 Net carrying amount as of March 31, 2018 $ 1,102.5 $ 173.6 $ 1,276.1 Acquisitions (1) 20.1 1.2 21.3 Purchase accounting adjustments 8.1 0.2 8.3 Currency translation adjustments (5.5 ) (0.5 ) (6.0 ) Net carrying amount as of March 31, 2019 $ 1,125.2 $ 174.5 $ 1,299.7 ______________________ (1) Refer to Note 3 , Acquisitions for additional information regarding acquisitions. Total cumulative goodwill impairment charges as of March 31, 2019 and 2018 was $434.6 million . The gross carrying amount and accumulated amortization for each major class of identifiable intangible assets as of March 31, 2019 and March 31, 2018 consisted of the following (in millions): March 31, 2019 Weighted Average Useful Life Gross Carrying Amount Accumulated Amortization Net Carrying Amount Intangible assets subject to amortization: Patents 10 years $ 50.9 $ (39.8 ) $ 11.1 Customer relationships (including distribution network) 13 years 713.5 (523.1 ) 190.4 Tradenames 13 years 40.4 (11.3 ) 29.1 Intangible assets not subject to amortization - trademarks and tradenames 280.9 — 280.9 Total intangible assets, net 13 years $ 1,085.7 $ (574.2 ) $ 511.5 March 31, 2018 Weighted Average Useful Life Gross Carrying Amount Accumulated Amortization Net Carrying Amount Intangible assets subject to amortization: Patents 10 years $ 51.3 $ (38.4 ) $ 12.9 Customer relationships (including distribution network) 13 years 700.3 (494.8 ) 205.5 Tradenames 13 years 40.1 (8.5 ) 31.6 Intangible assets not subject to amortization - trademarks and tradenames 280.9 — 280.9 Total intangible assets, net 13 years $ 1,072.6 $ (541.7 ) $ 530.9 Intangible asset amortization expense totaled $34.0 million , $32.2 million and $41.0 million for the years ended March 31, 2019 , 2018 and 2017 , respectively. Tradenames, and customer relationships acquired during fiscal 2019 were assigned a weighted-average useful life of 15 years and 18 years, respectively. Patents, tradenames, and customer relationships acquired during fiscal 2018 were assigned a weighted-average useful life of 14 years, 14 years, and 15 years, respectively. The Company expects to recognize amortization expense on the intangible assets subject to amortization of $34.6 million in fiscal year 2020, $33.5 million in fiscal year 2021, $29.2 million in fiscal year 2022, $14.9 million in fiscal year 2023, and $14.1 million in fiscal year 2024. The Company evaluates the carrying value of goodwill annually as of October 1 during the third quarter of each fiscal year, and more frequently if events or changes in circumstances indicate that an impairment may exist. The Company completed the testing of indefinite-lived intangible assets (tradenames) and goodwill for impairment as of October 1, 2018, using primarily an income valuation model (discounted cash flow) and market approach (guideline public company comparables), which indicated that the fair value of the Company's indefinite-lived intangible assets and all reporting units exceeded their carrying value; therefore, no impairment was present.

Other Current Liabilities

Other Current Liabilities	12 Months Ended
	Mar. 31, 2019
Other Liabilities Disclosure [Abstract]
Other Current Liabilities	Other Current Liabilities Other current liabilities are summarized as follows (in millions): March 31, 2019 March 31, 2018 Contract liabilities $ 5.1 $ 3.2 Sales rebates 35.3 26.8 Commissions 6.8 6.1 Restructuring and other similar charges (1) 4.3 2.6 Product warranty (2) 7.2 7.7 Risk management (3) 10.5 10.1 Legal and environmental 2.6 3.4 Taxes, other than income taxes 7.8 8.0 Income taxes payable 20.3 19.4 Interest payable 7.7 8.7 Other 29.5 31.4 $ 137.1 $ 127.4 ___________________ (1) See more information related to the restructuring obligations balance within Note 5 , Restructuring and Other Similar Charges. (2) See more information related to the product warranty obligations balance within Note 2 , Significant Accounting Policies. (3) Includes projected liabilities related to losses arising from automobile, general and product liability claims.

Long-Term Debt

Long-Term Debt	12 Months Ended
	Mar. 31, 2019
Debt Disclosure [Abstract]
Long-Term Debt	Long-Term Debt Long-term debt is summarized as follows (in millions): March 31, 2019 March 31, 2018 Term loans (1) $ 718.4 $ 791.5 4.875% Senior Notes due 2025 (2) 495.0 494.2 Securitization facility borrowings (3) — 18.3 Other subsidiary debt (4) 24.6 52.0 Total 1,238.0 1,356.0 Less current maturities 1.2 3.9 Long-term debt $ 1,236.8 $ 1,352.1 ____________________ (1) Includes unamortized debt issuance costs of $6.6 million and $8.5 million at March 31, 2019 and March 31, 2018 , respectively. (2) Includes unamortized debt issuance costs of $5.0 million and $5.8 million at March 31, 2019 and March 31, 2018 , respectively. (3) Includes unamortized debt issuance costs of $0.5 million at March 31, 2018. (4) Includes unamortized debt issuance costs of $0.5 million at March 31, 2018 . Senior Secured Credit Facility At March 31, 2019 , the Company’s Third Amended and Restated First Lien Credit Agreement, as amended (the "Credit Agreement") is funded by a syndicate of banks and other financial institutions and provides for (i) an $800.0 million term loan facility and (ii) a $264.0 million revolving credit facility. As of March 31, 2019 , the Company was in compliance with all applicable covenants under the Credit Agreement, including compliance with a maximum permitted total net leverage ratio (the Company's sole financial maintenance covenant under the revolving credit facility discussed below) of 6.75 to 1.0. The Company's total net leverage ratio was 2.2 to 1.0 as of March 31, 2019 . Term Debt On December 7, 2017, the Company entered into an Incremental Assumption Agreement (the "Fiscal 2018 Amendment") with a syndicate of banks and other financial institutions, relating to the Credit Agreement. The Credit Agreement had included a $1,606.4 million term loan facility (the "Fiscal 2017 Term Loan"). The Fiscal 2018 Amendment provided for a new term loan in the aggregate principal amount of $800.0 million (the "Fiscal 2018 Term Loan"). The proceeds of the Fiscal 2018 Term Loan were used, along with cash on hand and the $500.0 million of proceeds from the Company’s issuance of the Notes (as defined below), to refinance and reduce the aggregate principal amount of the Fiscal 2017 Term Loan. The Fiscal 2018 Term Loan has a maturity date of August 21, 2024, and there are no required principal payments due or scheduled under the term debt until the maturity date. The borrowings under the Fiscal 2018 Term Loan bear interest at either (i) London Interbank Offered Rate ("LIBOR") (subject to a 0% floor) plus an applicable margin of 2.25% or at an alternative base rate plus an applicable margin of 1.25% , or (ii) if the borrowers have received a corporate rating equal to or higher than Ba3 (with at least a stable outlook) by Moody’s and BB- (with at least a stable outlook) by S&P, LIBOR (subject to a 0% floor) plus an applicable margin of 2.00% or an alternate base rate plus an applicable margin of 1.00% . During August 2018, the Company met the required rating of the Credit Agreement allowing the applicable margin under the Fiscal 2018 Term Loan to be reduced from 2.25% to 2.00% going forward. At March 31, 2019 , the borrowings under the Fiscal 2018 Term Loan had a weighted-average effective interest rate of 4.49% . The weighted-average interest rate for the Fiscal 2018 Term Loan for fiscal year 2019 was 4.30% , determined as LIBOR (subject to a 0% floor) plus an applicable margin of 2.00% . During fiscal 2018, the Company recognized an $11.9 million loss on the debt extinguishment associated with the Fiscal 2018 Amendment, which was comprised of $3.9 million of refinancing-related costs, as well as a non-cash write-off of unamortized debt issuance costs associated with the Fiscal 2017 Term Loan of $8.0 million . Additionally, the Company capitalized $0.8 million and $6.0 million of direct costs associated with the Fiscal 2018 Term Loan, which are being amortized over the life of the loans as interest expense using the effective interest method. On January 9, 2019, the Company made a voluntary prepayment on its Term Loan of $75.0 million . In connection with this prepayment, the Company recognized a $0.7 million loss on debt extinguishment to write off a portion of the unamortized debt issuance costs. Revolving Credit Facility The Credit Agreement, as amended in fiscal 2017, included a $265.0 million revolving credit facility. In connection with the Fiscal 2018 Amendment, the aggregate amount of the revolving credit facility commitments was reduced to $264.0 million , and the maturity date of the revolving facility was extended to March 15, 2023. In connection with the Fiscal 2018 Amendment, the Company capitalized $0.2 million of transaction related costs which are being recognized as interest expense over the remaining tenure of the amended facility. For revolving commitments, the Company's applicable margin above the base rate is 2.00% in the case of ABR borrowings and 3.00% in the case of Eurocurrency borrowings, subject to a net first lien leverage test. In the event the Company's net first lien leverage ratio is less than 1.5 to 1.0, its applicable margin on both ABR and Eurocurrency borrowings would decrease by twenty-five (25) basis points. The Company's net first lien leverage ratio was 2.2 to 1.0 as of March 31, 2019. In addition to paying interest on outstanding principal, the Company is subject to a commitment fee to the lenders under the revolving credit facility with respect to the unutilized commitments thereunder at a rate equal to 0.50% per annum. No amounts were borrowed under the revolving credit facility at March 31, 2019 or 2018 ; however, $5.6 million and $8.3 million of the revolving credit facility were considered utilized in connection with outstanding letters of credit at March 31, 2019 and 2018 , respectively. 4.875% Senior Notes due 2025 On December 7, 2017, the Company issued $500.0 million aggregate principal amount of 4.875% senior notes due 2025 (the "Notes"). The Notes were issued by RBS Global, Inc. and Rexnord LLC (Company subsidiaries; collectively, the "Issuers") pursuant to an Indenture, dated as of December 7, 2017 (the "Indenture"), by and among the Issuers, the domestic subsidiaries of the Company (with certain exceptions) as guarantors named therein (the "Subsidiary Guarantors") and Wells Fargo Bank, National Association (the "Trustee"). The Notes are general senior unsecured obligations of the Issuers. Rexnord Corporation separately entered into a Parent Guarantee with the Trustee whereby it guaranteed certain obligations of the Issuers under the Indenture. The Notes pay interest semi-annually on June 15 and December 15, accruing upon issuance, at a rate of 4.875% per year with the first payment due on June 15, 2018. The Notes were not and will not be registered under the Securities Act of 1933 or any state securities laws. The Company capitalized $6.0 million of direct issuance costs associated with the Notes that are being amortized over the life of the Notes using the effective interest method. The Issuers may redeem some or all of the Notes at any time or from time to time prior to December 15, 2020 at certain "make-whole" redemption prices (as set forth in the Indenture) and after December 15, 2020 at specified redemption prices (as set forth in the Indenture). Additionally, the Issuers may redeem up to 40% of the aggregate principal amount of the Notes at any time or from time to time prior to December 15, 2020 with the net proceeds of specified equity offerings at specified redemption prices (as set forth in the Indenture). Upon a change of control (as defined in the Indenture), the Issuers will be required to make an offer to purchase the Notes at a price equal to 101% of the principal amount of the Notes on the date of purchase plus accrued interest. The Indenture contains customary covenants, such as restrictions on the Issuers and its restricted subsidiaries (but not on Rexnord Corporation) incurring or guaranteeing additional indebtedness or issuing certain preferred shares, paying dividends and making other restricted payments and creating or incurring certain liens. The Notes and Indenture do not contain any financial covenants. The Notes and Indenture contain customary events of default, including the failure to pay principal or interest when due, breach of covenants, cross-acceleration to other debt of the Issuers or restricted subsidiaries in excess of $50 million and bankruptcy events, all subject to terms, including notice and cure periods, as set forth in the Indenture. Accounts Receivable Securitization Program The Company has an amended accounts receivable securitization facility (the "Securitization") with Wells Fargo & Company ("Wells Fargo"). Pursuant to the agreements evidencing the Securitization, Rexnord Funding LLC ("Rexnord Funding") (a wholly owned bankruptcy-remote special purpose subsidiary) has granted Wells Fargo a security interest in all of its current and future receivables and related assets in exchange for a credit facility permitting borrowings of up to a maximum aggregate amount of $100.0 million outstanding from time to time. Such borrowings are used by Rexnord Funding to finance purchases of accounts receivable. The amount of advances available will be determined based on advance rates relating to the eligibility of the receivables held by Rexnord Funding at that time. Advances bear interest based on LIBOR plus 1.20% . The last date on which advances may be made is December 30, 2020 unless the maturity of the Securitization is otherwise accelerated. In addition to other customary fees associated with financings of this type, Rexnord Funding pays an unused line fee to Wells Fargo based on any unused portion of the Securitization facility. If the average daily outstanding principal amount during a calendar month is less than 50% of the average daily aggregate commitment in effect during such month, the unused line fee is 0.50% per annum; otherwise, it is 0.375% per annum. The Securitization constitutes a "Permitted Receivables Financing" under the Credit Agreement and does not qualify for sale accounting under ASC 860, Transfers and Servicing . Any borrowings under the Securitization are accounted for as secured borrowings on the Company's consolidated balance sheets. Financing costs associated with the Securitization are recorded within "Interest expense, net" in the consolidated statements of operations if revolving loans or letters of credit are obtained under the facility. At March 31, 2019 , the Company's borrowing capacity under the Securitization was $100.0 million , based on the current accounts receivables balance. At March 31, 2019 and 2018 , $0.0 million and $18.8 million was borrowed under the Securitization, respectively. In addition, $7.1 million and $7.9 million of available borrowing capacity under the Securitization was considered utilized in connection with outstanding letters of credit at March 31, 2019 and 2018 , respectively. As of March 31, 2019 , the Company was in compliance with all applicable covenants and performance ratios contained in the Securitization. Other Subsidiary Debt Prior to 2016, the Company received an aggregate of $9.8 million in net proceeds from financing agreements related to facility modernization projects at two North American manufacturing facilities. These financing agreements were structured with unrelated third party financial institutions (the "Investors") and their wholly-owned community development entities in connection with the Company's participation in transactions qualified under the federal New Market Tax Credit program, pursuant to Section 45D of the Internal Revenue Code of 1986, as amended. Through its participation in this program, the Company has secured low interest financing and the potential for future debt forgiveness related to eligible capital projects. Upon closing of these transactions, the Company provided an aggregate of $27.6 million to the Investor, in the form of loans receivable, with a term of 30 years, bearing an interest rate of approximately 2.0% per annum. As collateral for these loans, the Company granted a security interest in the assets acquired with the loan proceeds. Under the terms of the financing agreements and upon meeting certain conditions, both the Investors and the Company have the ability to trigger forgiveness of the net debt. During fiscal year 2019, $23.4 million of the associated loans and $17.9 million of the related loans receivable were forgiven by both the Investors and the Company. Accordingly, the Company recognized a non-cash gain on debt extinguishment of $5.0 million , net of the write-off of $0.5 million of unamortized debt issuance costs associated with the forgiven debt. As of March 31, 2019 , $14.0 million of aggregate loans, net of debt issuance costs, and $9.7 million of loans receivable remain, which are also eligible to be jointly forgiven by the Company and the Investors no earlier than December 2019. The aggregate loans, net of debt issuance costs, are recorded in Long-Term Debt on the consolidated balance sheets and the aggregate loans receivable are recorded in Other Assets on the consolidated balance sheets. At March 31, 2019 and 2018 , in addition to the aforementioned New Market Tax Credit, various wholly owned subsidiaries had additional debt of $10.6 million and $33.9 million , respectively, comprised primarily of borrowings under the accounts receivable securitization facility, various foreign subsidiaries, and capital lease obligations. Future Debt Maturities Future maturities of debt as of March 31, 2019 , excluding the unamortized debt issuance costs of $11.6 million , were as follows (in millions): Years ending March 31: 2020 $ 1.2 2021 4.8 2022 1.0 2023 1.0 2024 1.0 Thereafter 1,240.6 $ 1,249.6 Cash interest paid for the fiscal years ended March 31, 2019, 2018 and 2017 was $63.8 million , $69.9 million and $84.9 million , respectively.

Derivative Financial Instrument

Derivative Financial Instruments	12 Months Ended
	Mar. 31, 2019
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Financial Instruments	Derivative Financial Instruments The Company is exposed to certain financial risks relating to fluctuations in foreign currency exchange rates and interest rates. The Company selectively uses foreign currency forward exchange contracts to manage its foreign currency risk and interest rate swaps and interest rate caps to manage its interest rate risk. All hedging transactions are authorized and executed pursuant to defined policies and procedures that prohibit the use of financial instruments for speculative purposes. Foreign Exchange Contracts The Company periodically enters into foreign currency forward contracts to mitigate the foreign currency volatility relative to certain intercompany and external cash flows expected to occur. These foreign currency forward contracts were not accounted for as cash flow hedges in accordance with ASC 815, and as such were marked to market through earnings. The amounts recorded on the consolidated balance sheets and recognized within the condensed consolidated statements of operations related to the Company's foreign currency forward contracts are set forth within the tables below. Interest Rate Derivatives Beginning in fiscal 2016, the Company utilized three interest rate swaps and two interest rate caps to hedge the variability in future cash flows associated with the Company's variable-rate term loans, all of which matured during fiscal 2019. At inception, these interest rate derivatives were designated as cash flow hedges in accordance with ASC 815. In connection with the Fiscal 2018 Amendment to the Credit Agreement described in Note 11, Long-Term Debt, the critical terms of the interest rate derivatives no longer matched the outstanding debt and no longer qualified as effective hedges. Unrealized losses associated with the interest rate derivatives remaining in accumulated other comprehensive loss were reclassified into interest expense over the remaining term of the interest rate derivatives and changes in fair values subsequent to the Amendment were recognized within the consolidated statements of operations. See the amounts recorded on the consolidated balance sheets related to the Company's interest rate derivatives within the tables below. The Company's derivatives are measured at fair value in accordance with ASC 820. See Note 13 , Fair Value Measurements for more information as it relates to the fair value measurement of the Company's derivative financial instruments. The following tables indicate the location and the fair value of the Company's non-qualifying, non-designated derivative instruments within the consolidated balance sheets (in millions): March 31, 2019 March 31, 2018 Balance Sheet Classification Asset Derivatives Foreign currency forward contracts $ — $ 0.5 Other current assets Liability Derivatives Interest rate derivatives $ — $ 0.8 Other current liabilities The following table segregates the location and the amount of gains or losses associated with the changes in the fair value of the Company's derivative instruments, net of tax, within the consolidated balance sheets (for instruments no longer qualifying for hedge accounting under ASC 815) and recognized within the consolidated statements of operations (for non-qualifying, non-designated derivative instruments): Amount of (gain) loss recognized in accumulated other comprehensive loss Derivative instruments no longer qualifying for hedge accounting under ASC 815 (in millions) March 31, 2019 March 31, 2018 Interest rate derivatives $ (0.8 ) $ 3.7 Amount recognized as (income) expense Non-qualifying, non-designated derivative instruments (in millions) Consolidated Statements of Operations Classification Fiscal Years Ended March 31, 2019 March 31, 2018 March 31, 2017 Foreign currency forward contracts Other expense (income), net $ 0.2 $ — $ (0.5 ) Interest rate derivatives Interest expense, net $ (0.8 ) $ (5.0 ) $ — During fiscal 2019, 2018, and 2017, the Company reclassified $5.7 million , $9.7 million , and $10.2 million of accumulated other comprehensive loss into earnings as interest expense related to interest rate derivatives, respectively.

Fair Value Measurements

Fair Value Measurements	12 Months Ended
	Mar. 31, 2019
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements ASC 820 defines fair value as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants. ASC 820 also specifies a fair value hierarchy based upon the observability of inputs used in valuation techniques. Observable inputs (highest level) reflect market data obtained from independent sources, while unobservable inputs (lowest level) reflect internally developed assumptions about the assumptions a market participant would use. In accordance with ASC 820, fair value measurements are classified under the following hierarchy: • Level 1- Quoted prices for identical instruments in active markets. • Level 2- Quoted prices for similar instruments; quoted prices for identical or similar instruments in markets that are not active; and model-derived valuations in which all significant inputs or significant value-drivers are observable. • Level 3- Model-derived valuations in which one or more inputs or value-drivers are both significant to the fair value measurement and unobservable. If applicable, the Company uses quoted market prices in active markets to determine fair value, and therefore classifies such measurements within Level 1. In some cases where market prices are not available, the Company makes use of observable market based inputs to calculate fair value, in which case the measurements are classified within Level 2. If quoted or observable market prices are not available, fair value is based upon internally developed models that use, where possible, current market-based parameters. These measurements are classified within Level 3 if they use significant unobservable inputs. Fair Value of Derivative Instruments The Company transacts in foreign currency forward contracts and previously transacted in interest rate swaps and caps, which are impacted by ASC 820. The fair value of foreign currency forward contracts is based on a pricing model that utilizes the differential between the contract price and the market-based forward rate as applied to fixed future deliveries of currency at pre-designated settlement dates. The fair value of interest rate swaps and caps was based on pricing models. These models use discounted cash flows that utilize the appropriate market-based forward swap curves and interest rates. The Company endeavors to utilize the best available information in measuring fair value. As required by ASC 820, financial assets and liabilities are classified in their entirety based on the lowest level of input that is significant to the fair value measurement. The Company has determined that its foreign currency forward contracts and interest rate swaps reside within Level 2 of the fair value hierarchy. There were no transfers of assets between levels during the years ended March 31, 2019 and March 31, 2018 . The following table provides a summary of the Company's assets and liabilities that were recognized at fair value on a recurring basis as of March 31, 2018 (in millions): Fair Value as of March 31, 2018 Level 1 Level 2 Level 3 Total Assets: Foreign currency forward contracts $ — $ 0.5 $ — $ 0.5 Total assets at fair value — 0.5 — 0.5 Liabilities: Interest rate swaps — 0.8 — 0.8 Total liabilities at fair value $ — $ 0.8 $ — $ 0.8 As of March 31, 2019 , the Company had no interest rate swaps and caps outstanding, and the fair value of foreign currency forward contract assets classified within Level 2 was immaterial. Fair Value of Non-Derivative Financial Instruments The carrying amounts of cash, receivables, payables and accrued liabilities approximated fair value at March 31, 2019 and March 31, 2018 due to the short-term nature of those instruments. The fair value of long-term debt recorded on the consolidated balance sheets as of March 31, 2019 and March 31, 2018 was approximately $1,238.1 million and $1,361.8 million , respectively. The fair value is based on quoted market prices for the same issues. Long-lived Assets and Intangible Assets Long-lived assets (which include property, plant and equipment and real estate) may be measured at fair value if such assets are held-for-sale or when there is a determination that the asset is impaired. Intangible assets (which include patents, tradenames, customer relationships, and non-compete agreements) also may be measured at fair value when there is a determination that the asset is impaired. The determination of fair value for these assets is based on the best information available that resides within Level 3 of the fair value hierarchy, including internal cash flow estimates discounted at an appropriate interest rate, quoted market prices when available, market prices for similar assets and independent appraisals, as appropriate. For real estate, cash flow estimates are based on current market estimates that reflect current and projected lease profiles and available industry information about expected trends in rental, occupancy and capitalization rates. As discussed in Note 4, Discontinued Operations, the Company disposed of the VAG business within the Water Management platform in the third quarter of fiscal 2019. The carrying amounts of assets and liabilities associated with the VAG business are included as part of discontinued operations presented in the consolidated balance sheets as of March 31, 2018. Additionally, as discussed in Note 5 , Restructuring and Other Similar Charges, in connection with the ongoing supply chain optimization and footprint repositioning initiatives, the Company has taken several actions to consolidate existing manufacturing facilities and rationalize its product offerings. These actions required the Company to assess whether the carrying amount of impacted long-lived assets will be recoverable as well as whether the remaining useful lives require adjustment. During fiscal 2019 and 2018 , the Company recognized impairment charges associated with certain long-lived assets to place the assets at net realizable value. Net realizable value of these assets was determined using independent appraisals, classified as Level 3 inputs within the fair value hierarchy. As of March 31, 2018, long-lived assets were recorded at net realizable value on the consolidated balance sheets within property, plant and equipment in the amount of $5.6 million . In fiscal 2019, the Company sold all of these assets.

Leases

Leases	12 Months Ended
	Mar. 31, 2019
Leases [Abstract]
Leases	Leases The Company leases manufacturing and warehouse facilities and data processing and other equipment under non-cancelable operating leases which expire at various dates primarily through 2048. Rent expense under operating leases totaled $18.3 million , $18.9 million and $17.6 million for the fiscal years ended March 31, 2019 , 2018 and 2017 , respectively. Future minimum rental payments for leases with initial terms in excess of one year as of March 31, 2019 are as follows (in millions): Years ending March 31: 2020 $ 14.6 2021 11.8 2022 9.6 2023 8.7 2024 6.4 Thereafter 56.3 $ 107.4

Stock-Based Compensation

Stock-Based Compensation	12 Months Ended
	Mar. 31, 2019
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Stock-Based Compensation	Stock-Based Compensation In accordance with ASC 718, the Company recognizes compensation costs related to share-based payment transactions. Generally, compensation cost is measured based on the grant-date fair value of the equity instruments issued. Compensation cost is recognized over the requisite service period, generally as the awards vest. The Rexnord Corporation Performance Incentive Plan, which was last approved by stockholders in fiscal 2017 (the "Plan"), is utilized to provide performance incentives to the Company's officers, employees, directors and certain others by permitting grants of equity awards (for common stock), as well as performance-based cash awards, to such persons, to encourage them to maximize Rexnord's performance and create value for Rexnord's stockholders. To date, stock options, Restricted Stock Units ("RSUs") and Performance Stock Units ("PSUs") have been issued under the Plan. The options granted under the Plan have a maximum term of 10 years after the grant date. Options granted from the inception of the Plan through July 31, 2014 vest 50% three years after the grant date and the remaining 50% vest five years after the grant date. Options and RSUs granted from July 31, 2014 through May 21, 2015 vest ratably over four years. Options and RSUs granted subsequent to May 21, 2015 generally vest ratably over 3 years. RSUs granted to nonemployee directors vest immediately, but shares are not issued until six months after the Director's cessation of service. PSUs granted cliff vest after 3 years. The Plan permits the grant of awards that may deliver up to an aggregate of 12,150,000 shares of common stock further subject to limits within the meaning of Section 162(m) of the Internal Revenue Code, to any individual in a single year. The Plan is administered by the Compensation Committee. During fiscal 2019 , 2018 and 2017 , the Company recorded $22.6 million , $20.0 million and $13.1 million of stock-based compensation expense, respectively (the related tax benefit on these amounts was $5.2 million for fiscal 2019 , $6.5 million for fiscal 2018 , and $4.7 million for fiscal 2017 ). During fiscal 2019 , 2018 and 2017 , the Company also recorded $1.9 million , $1.3 million and $8.3 million , respectively, of an excess tax benefit related to stock options exercised during each fiscal year. As of March 31, 2019 , there was $19.5 million of total unrecognized compensation cost related to non-vested stock options, RSUs and PSUs granted under the Plan. That cost is expected to be recognized over a weighted-average period of 1.73 years. Stock Options The fair value of each option granted under the Plan was estimated on the date of grant using the Black-Scholes valuation model that uses the following weighted-average assumptions: Years Ended March 31, 2019 March 31, 2018 March 31, 2017 Expected option term (in years) 6.5 6.5 6.5 Expected volatility factor 30 % 31 % 29 % Weighted-average risk free interest rate 2.85 % 1.99 % 1.58 % Expected dividend rate 0.0 % 0.0 % 0.0 % Management’s estimate of the option term for options granted under the Plan is based on the midpoint between when the options vest and when they expire. The Company uses the simplified method to determine the expected term, as management does not have sufficient historical exercise data to provide a reasonable basis upon which to estimate the expected term. The Company’s expected volatility assumption for options granted in fiscal 2019 and 2018 was based on the Company's own historical volatility, while the expected volatility assumption for options granted prior to fiscal 2018 was based on the expected volatilities of publicly-traded companies within the Company’s industry, due to the limited period of time its common stock shares had been publicly traded. The weighted average risk free interest rate is based on the U.S. Treasury yield curve in effect at the date of grant. Management also assumes expected dividends of zero . The weighted-average grant date fair value of options granted under the Plan during fiscal 2019 , 2018 and 2017 was $10.59 , $8.12 and $6.41 , respectively. The total fair value of options vested during fiscal 2019 , 2018 and 2017 was $12.3 million , $16.0 million and $5.8 million , respectively. A summary of stock option activity during fiscal 2019 , 2018 and 2017 is as follows: Years Ended March 31, 2019 March 31, 2018 March 31, 2017 Shares Weighted Avg. Exercise Price Shares Weighted Avg. Exercise Price Shares Weighted Avg. Exercise Price Number of shares under options: Outstanding at beginning of period 8,117,947 $ 19.50 7,770,670 $ 18.73 7,854,685 $ 15.10 Granted 564,666 28.88 1,176,205 23.17 2,602,014 19.72 Exercised (1) (642,953 ) 14.21 (543,443 ) 14.89 (2,116,571 ) 5.18 Canceled/Forfeited (195,749 ) 23.95 (285,485 ) 22.55 (569,458 ) 23.34 Outstanding at end of period (2) 7,843,911 $ 20.49 8,117,947 $ 19.50 7,770,670 $ 18.73 Exercisable at end of period (3) 5,833,565 $ 19.42 4,810,737 $ 17.93 3,221,622 $ 15.25 ______________________ (1) The total intrinsic value of options exercised during fiscal 2019 , 2018 and 2017 was $9.9 million , $6.4 million and $29.1 million , respectively. (2) The weighted average remaining contractual life of options outstanding was 5.5 years at March 31, 2019 , 6.1 years at March 31, 2018 and 6.6 years at March 31, 2017 . The aggregate intrinsic value of options outstanding at March 31, 2019 was $41.2 million . (3) The weighted average remaining contractual life of options exercisable was 4.6 years at March 31, 2019 , 4.7 years at March 31, 2018 and 4.6 years at March 31, 2017 . The aggregate intrinsic value of options exercisable at March 31, 2019 was $36.0 million . Shares Weighted Avg. Exercise Price Nonvested options at beginning of period 3,307,210 $ 21.77 Granted 564,666 28.88 Vested (1,706,123 ) 21.78 Canceled/Forfeited (155,407 ) 23.71 Nonvested options at end of period 2,010,346 $ 23.61 Restricted Stock Units During fiscal 2019 , 2018 and 2017 the Company granted restricted stock units ("RSUs") to certain of its officers, directors, and employees. The fair value of each award is determined based on the Company's closing stock price on the date of grant. A summary of RSU activity during fiscal 2019 , 2018 , and 2017 is as follows: Years Ended March 31, 2019 March 31, 2018 March 31, 2017 Units Weighted Avg. Grant Date Fair Value Units Weighted Avg. Grant Date Fair Value Units Weighted Avg. Grant Date Fair Value Nonvested RSUs at beginning of period 368,182 $ 21.55 322,142 $ 20.59 125,307 $ 24.67 Granted 300,119 28.87 250,013 23.19 279,445 19.53 Vested (149,531 ) 24.30 (150,784 ) 21.92 (48,207 ) 24.01 Canceled/Forfeited (101,423 ) 21.10 (53,189 ) 22.41 (34,403 ) 22.00 Nonvested RSUs at end of period 417,347 $ 25.94 368,182 $ 21.55 322,142 $ 20.59 Performance Stock Units During fiscal 2019 , 2018 , and 2017 , the Company granted performance stock units ("PSUs") to certain of its officers and employees. Those PSUs have a three -year performance period, and are earned and vest, subject to continued employment, based in part on performance relative to metrics determined by the Compensation Committee. The number of performance share awards earned, which can range between 0% and 200% of the target awards granted depending on the Company's actual performance during the three -year performance period, will be satisfied with Rexnord common stock. A summary of PSU activity during fiscal 2019 , 2018 , and 2017 is as follows: Years Ended March 31, 2019 March 31, 2018 March 31, 2017 Units Weighted Avg. Grant Date Fair Value Units Weighted Avg. Grant Date Fair Value Units Weighted Avg. Grant Date Fair Value Nonvested PSUs at beginning of period 453,001 $ 25.53 259,930 $ 24.74 49,136 $ 28.57 Granted 183,069 28.91 193,071 26.58 219,266 23.95 Vested (217,319 ) 23.89 — — — — Canceled/Forfeited (67,647 ) 28.37 — — (8,472 ) 25.90 Nonvested PSUs at end of period 351,104 $ 27.76 453,001 $ 25.53 259,930 $ 24.74 In fiscal 2019, PSUs were granted with vesting based on goals related to free cash flow conversion and return on invested capital. In fiscal 2018 and 2017, PSUs were granted with vesting based on goals related to free cash flow conversion and relative total shareholder return. The fair value of the portion of PSUs with vesting based on free cash flow conversion and return on invested capital is determined based on the Company's closing stock price on the date of grant. The fair value of PSUs with vesting based on relative total shareholder return is determined utilizing the Monte Carlo simulation model. The following weighted-average assumptions were used in the Monte Carlo simulation model, which were based on historical data and standard industry valuation practices and methodology: Years Ended March 31, 2018 March 31, 2017 Expected volatility factor 31 % 30 % Weighted-average risk-free interest rate 1.45 % 0.86 % Expected dividend rate 0.0 % 0.0 % PSU fair value per share $31.25 $27.67

Retirement Benefits

Retirement Benefits	12 Months Ended
	Mar. 31, 2019
Retirement Benefits [Abstract]
Retirement Benefits	Retirement Benefits The Company sponsors pension and other postretirement benefit plans for certain employees. Most of the Company’s employees are accumulating retirement income benefits through defined contribution plans. However, the Company sponsors frozen pension plans for certain salaried participants and ongoing pension benefits for certain employees represented by collective bargaining. These plans provide for monthly pension payments to eligible employees upon retirement. Pension benefits for salaried employees generally are based on years of frozen credited service and average earnings. Pension benefits for hourly employees generally are based on specified benefit amounts and years of service. The Company’s policy is to fund its pension obligations in conformity with the funding requirements under applicable laws and governmental regulations. Other postretirement benefits consist of retiree medical plans that cover a portion of employees in the United States that meet certain age and service requirements. Net periodic benefit costs recorded on a quarterly basis are primarily comprised of service and interest cost, amortization of unrecognized prior service cost and the expected return on plan assets. The service cost component of net periodic benefit cost is presented within Cost of sales and Selling, general and administrative expenses in the statements of operations while the other components of net periodic benefit cost are presented within Other expense (income), net. The Company recognizes the net actuarial gains or losses in excess of the corridor in operating results during the fourth quarter of each fiscal year (or upon any required re-measurement event). The corridor is 10% of the greater of the projected benefit obligation or the fair value of the plan assets. In connection with this accounting policy, the Company recognized a non-cash actuarial gains of $0.4 million , $3.3 million , and $2.6 million , during the fiscal years ended March 31, 2019 , 2018 and 2017 , respectively. These gains are recorded within Other expense (income), net in the consolidated statements of operations. During the fourth quarter of fiscal 2019, the Company offered participants in the Cambridge defined benefit plan the opportunity to receive a lump sum settlement as part of the termination process for that plan. Acceptance of the offer by a participant was completely voluntary, and if accepted, participants could elect to receive the settlement in the form of a single lump sum payment or monthly annuity beginning in first quarter of fiscal 2020. The election period for this voluntary offer closed on March 15, 2019. During the first quarter of 2020, the Company will perform an off-cycle re-measurement of the Cambridge plan assets and benefit obligations that will result in the immediate recognition in that quarter of unrecognized non-cash actuarial gains/losses associated with the plan. The Company expects the Cambridge plan to be closed by the end of fiscal 2020. As of December 31, 2017, the Company merged three of its U.S. defined benefit plans into a single plan, thereby also merging all of the plans' assets. The merger of the three plans was a non-substantive change with no changes to the benefit formulas, vesting provisions, or employees covered by the plans. Accordingly, the Company determined an off-cycle remeasurement of the plans assets and benefit obligations was not required. The components of net periodic benefit cost reported in the consolidated statements of operations are as follows (in millions): Year Ended March 31, 2019 March 31, 2018 March 31, 2017 Pension Benefits: Service cost $ 0.5 $ 1.0 $ 1.8 Interest cost 23.6 24.3 25.6 Expected return on plan assets (24.8 ) (26.7 ) (27.1 ) Amortization of: Prior service cost — — 0.1 Benefit cost (income) associated with special events: Curtailment (1) — (0.3 ) (1.4 ) Contractual termination benefits (2) — — 2.2 Settlement (3) 0.6 — — Recognition of actuarial losses (gains) 0.7 (1.1 ) — Net periodic benefit cost (income) $ 0.6 $ (2.8 ) $ 1.2 Other Postretirement Benefits: Service cost $ — $ — $ 0.1 Interest cost 0.8 1.0 1.1 Amortization: Prior service credit (1.5 ) (1.9 ) (2.0 ) Benefit cost associated with special events: Curtailment (1) — — 0.4 Recognition of actuarial gains (1.7 ) (1.9 ) (1.6 ) Net periodic benefit income $ (2.4 ) $ (2.8 ) $ (2.0 ) ______________________ (1) During fiscal 2018 and 2017, certain active participants of a foreign pension plan were transferred out of the pension plan and placed into a defined contribution plan, resulting in a curtailment gain of $0.3 million and $1.4 million , respectively. In addition, during fiscal 2017 the Company also recognized a curtailment loss of $0.4 million associated with a postretirement benefit plan resulting from the closure of a U.S. manufacturing facility. The recognition of the non-cash net curtailment gain of $0.3 million and $1.0 million is recorded within Other expense (income), net in the consolidated statements of operations for the fiscal years ended March 31, 2018 and 2017, respectively. (2) (During fiscal 2017, the Company recognized incremental expense of $2.2 million of termination benefits associated with incremental benefits participants of the Company’s domestic union defined benefit plans will receive following the Company’s decision to close one of its U.S. manufacturing facilities. The contractual termination benefit is recorded within Restructuring and other similar charges in the fiscal 2017 consolidated statements of operations. (3) During the fourth quarter of fiscal 2019, the Company settled the benefits of a Canadian defined benefit pension plan through either a lump-sum transfer or the purchase of an annuity from an insurance company. As a result of the settlement, the Company performed a re-measurement of the plan assets and benefit obligations for the pension plan as at March 31, 2019, which resulted in the immediate recognition of a $0.6 million non-cash actuarial loss, which is recorded within Other expense (income), net in the fiscal 2019 consolidated statements of operations. There will be no impact from this event in fiscal periods following March 31, 2019. In fiscal 2019, the recognition of $0.4 million of non-cash actuarial gains was primarily due to the foreign plan settlement described above, offset by improved demographic and claims experience associated with the Company’s other postretirement benefit plans. In fiscal 2018, the recognition of $3.3 million of non-cash actuarial gains was primarily due to the foreign pension plan change described above, as well as improved demographic and claims experience associated with the Company’s other postretirement benefit plans. In fiscal 2017, the recognition of $2.6 million of non-cash actuarial gains was primarily associated with the net curtailment gain described above and improved demographic and claims experience associated with the Company’s other postretirement benefit plans. The Company made contributions to its U.S. qualified pension plan trusts of $1.3 million , $2.9 million , and $4.9 million during the years ended March 31, 2019 , 2018 and 2017 , respectively. The status of the plans is summarized as follows (in millions): Pension Benefits Other Postretirement Benefits Year Ended March 31, 2019 Year Ended March 31, 2018 Year Ended March 31, 2019 Year Ended March 31, 2018 Benefit obligation at beginning of period $ (652.5 ) $ (659.3 ) $ (21.5 ) $ (25.7 ) Service cost (0.5 ) (1.0 ) — — Interest cost (23.6 ) (24.3 ) (0.8 ) (1.0 ) Actuarial gains 1.7 7.1 2.5 2.8 Benefits paid 40.7 40.8 1.9 3.0 Plan participant contributions — (0.1 ) (0.5 ) (0.6 ) Acquisitions (1) — (6.3 ) — — Curtailments — 0.3 — — Settlements 3.2 — — — Translation and other adjustments 7.2 (9.7 ) 1.5 — Benefit obligation at end of period $ (623.8 ) $ (652.5 ) $ (16.9 ) $ (21.5 ) Plan assets at the beginning of the period $ 507.4 $ 513.0 $ — $ — Actual return on plan assets 15.8 23.6 — — Contributions 4.0 5.5 2.5 3.0 Benefits paid (40.7 ) (40.8 ) (2.5 ) (3.0 ) Acquisitions (1) — 2.3 — — Settlements (3.4 ) — — — Translation adjustment (2.9 ) 3.8 — — Plan assets at end of period $ 480.2 $ 507.4 $ — $ — Funded status of plans $ (143.6 ) $ (145.1 ) $ (16.9 ) $ (21.5 ) Net amount on Consolidated Balance Sheets consists of: Non-current assets $ 0.8 $ 0.6 $ — $ — Current liabilities (1.7 ) (1.9 ) (1.6 ) (2.1 ) Long-term liabilities (142.7 ) (143.8 ) (15.3 ) (19.4 ) Total net funded status $ (143.6 ) $ (145.1 ) $ (16.9 ) $ (21.5 ) ______________________ (1) Includes the acquisition of Centa during fiscal 2018. See Note 3, Acquisitions for additional information. As of March 31, 2019 , the Company had pension plans with a combined projected benefit obligation of $623.8 million compared to plan assets of $480.2 million , resulting in an under-funded status of $143.6 million compared to an under-funded status of $145.1 million at March 31, 2018 . The Company’s funded status has improved year over year primarily due to increased funding coupled with actuarial gains resulting from a shorter life expectancy assumption, partially offset by actuarial losses due to lower interest rates and less favorable asset return. Any further changes in the assumptions underlying the Company’s pension values, including those that arise as a result of declines in equity markets and changes in interest rates, could result in increased pension obligation and pension cost which could negatively affect the Company’s consolidated financial position and results of operations in future periods. Amounts included in accumulated other comprehensive loss (income), net of tax, related to defined benefit plans at March 31, 2019 and 2018 consist of the following (in millions): As of March 31, 2019 Pension Benefits Postretirement Benefits Total Unrecognized prior service credit $ (0.1 ) $ (1.4 ) $ (1.5 ) Unrecognized actuarial loss (gain) 52.6 (1.7 ) 50.9 Accumulated other comprehensive loss (income), gross 52.5 (3.1 ) 49.4 Deferred income tax (benefit) provision (12.9 ) 0.8 (12.1 ) Accumulated other comprehensive loss (income), net $ 39.6 $ (2.3 ) $ 37.3 As of March 31, 2018 Pension Benefits Postretirement Benefits Total Unrecognized prior service credit $ (0.2 ) $ (1.2 ) $ (1.4 ) Unrecognized actuarial loss (gain) 46.2 (1.7 ) 44.5 Accumulated other comprehensive loss (income), gross 46.0 (2.9 ) 43.1 Deferred income tax (benefit) provision (15.9 ) 1.0 (14.9 ) Accumulated other comprehensive loss (income), net $ 30.1 $ (1.9 ) $ 28.2 The Company expects to recognize zero and $(0.3) million of prior service costs (credits) included in accumulated other comprehensive (loss) income for pension benefits and other postretirement benefits, respectively, as components of net periodic benefit cost during the next fiscal year. The following table presents significant assumptions used to determine benefit obligations and net periodic benefit cost (income) in weighted-average percentages: Pension Benefits Other Postretirement Benefits March 31, 2019 March 31, 2018 March 31, 2017 March 31, 2019 March 31, 2018 March 31, 2017 Benefit Obligations: Discount rate 3.7 % 3.7 % 3.9 % 3.9 % 4.0 % 4.0 % Rate of compensation increase 2.9 % 2.9 % 3.0 % n/a n/a n/a Net Periodic Benefit Cost: Discount rate 3.7 % 3.9 % 3.8 % 4.0 % 4.0 % 3.9 % Rate of compensation increase 2.9 % 3.0 % 3.0 % n/a n/a n/a Expected return on plan assets 5.1 % 5.3 % 5.3 % n/a n/a n/a In evaluating the expected return on plan assets, consideration was given to historical long-term rates of return on plan assets and input from the Company’s pension fund consultant on asset class return expectations, long-term inflation and current market conditions. The following table presents the Company’s target investment allocations for the year ended March 31, 2019 and actual investment allocations at March 31, 2019 and 2018 . Plan Assets 2019 2018 Investment Policy (1) Target Allocation (2) Actual Allocation Actual Allocation Equity securities 20% - 30% 28% 26% 28% Debt securities (including cash and cash equivalents) 55% - 80% 64% 64% 65% Other 0% - 10% 9% 10% 7% ______________________ (1) The investment policy allocation represents the guidelines of the Company's pension plans based on the changes in the plans funded status. (2) The target allocations represent the weighted average target allocations for the Company's pension plans. The Company's defined benefit pension utilizes a dynamic liability driven investment ("LDI") strategy. The objective is to more closely align the pension plan assets with its liabilities in terms of how both respond to interest rate changes. The plan assets are allocated into two investment categories: (i) LDI, comprised of high quality, investment grade fixed income securities and (ii) return seeking, comprised of traditional securities and alternative asset classes. All assets are managed externally according to guidelines established individually with investment managers and the Company's investment consultant. The Company periodically undertakes asset and liability modeling studies to determine the appropriateness of the investments. The Company intends to continuously reduce the assets allocated to the return seeking category, thereby increasing the assets allocated to the LDI category based on the overall improvement in the plan funded status. No equity securities of the Company are held in the portfolio. The fair values of the Company’s pension plan assets for both the U.S and non-U.S. plans at March 31, 2019 and 2018 , by asset category are included in the table below (in millions). For additional information on the fair value hierarchy and the inputs used to measure fair value, see Note 13 , Fair Value Measurements. As of March 31, 2019 Quoted Prices in Active Market (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Assets measured at net asset value (1) Total Cash and cash equivalents $ 20.2 $ — $ — $ — $ 20.2 Investment funds Fixed income funds (2) — — — 304.6 304.6 U.S. equity funds (3) — — — 54.3 54.3 International equity funds (3) — — — 33.4 33.4 Balanced funds (3) — — — 6.4 6.4 Alternative investment funds (4) — — — 31.4 31.4 Insurance contracts — — 29.9 — 29.9 Total $ 20.2 $ — $ 29.9 $ 430.1 $ 480.2 As of March 31, 2018 Quoted Prices in Active Market (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Assets measured at net asset value (1) Total Cash and cash equivalents $ 2.2 $ — $ — $ 3.7 $ 5.9 Investment funds Fixed income funds (2) 10.7 — — 317.3 328.0 U.S. equity funds (3) 2.3 — — 59.6 61.9 International equity funds (3) 0.3 — — 35.6 35.9 Balanced funds (3) — — — 9.5 9.5 Alternative investment funds (4) — — — 36.0 36.0 Insurance contracts — — 30.2 — 30.2 Total $ 15.5 $ — $ 30.2 $ 461.7 $ 507.4 ______________________ (1) Certain investments that are measured at fair value using the net asset value per share (or its equivalent) have not been classified in the fair value hierarchy. The fair value amounts presented in this table are intended to permit reconciliation of the fair value hierarchy to the amounts presented in the statement of financial position. (2) The Company's fixed income mutual and commingled funds primarily include investments in U.S. government securities and corporate bonds. The commingled funds also include an insignificant portion of investments in asset-backed securities or partnerships. The mutual and commingled funds are primarily valued using the net asset value, which reflects the plan's share of the fair value of the investments. (3) The Company's equity mutual and commingled funds primarily include investments in U.S. and international common stock. The balanced mutual and commingled funds invest in a combination of fixed income and equity securities. The mutual and commingled funds are primarily valued using the net asset value, which reflects the plan's share of the fair value of the investments. (4) The Company's alternative investments include venture capital and partnership investments. Alternative investments are valued using the net asset value, which reflects the plan's share of the fair value of the investments. The Company is generally able to redeem investments at periodic times during the year with notice provided to the general partner. The table below sets forth a summary of changes in the fair value of the Level 3 investments for the years ended March 31, 2019 and 2018 (in millions): Insurance Contracts Ending balance, March 31, 2017 $ 23.9 Actual return on assets: Related to assets held at reporting date 3.9 Related to assets sold during the period — Related to assets acquired by acquisition (1) 2.4 Purchases, sales, issuances and settlements — Ending balance, March 31, 2018 30.2 Actual return on assets: Related to assets held at reporting date (0.3 ) Related to assets sold during the period — Purchases, sales, issuances and settlements — Ending balance, March 31, 2019 $ 29.9 ______________________ (1) Relates to the assets acquired in connection with the Company's acquisition of Centa during fiscal 2018. See Note 3, Acquisitions for additional information. Expected benefit payments to be paid in each of the next five fiscal years and in the aggregate for the five fiscal years thereafter are as follows (in millions): Years Ending March 31: Pension Benefits Other Postretirement Benefits 2020 $ 45.1 $ 1.7 2021 39.8 1.6 2022 39.7 1.5 2023 39.5 1.4 2024 39.8 1.4 2025 - 2029 190.2 5.8 Pension Plans That Are Not Fully Funded At March 31, 2019 , the projected benefit obligation, accumulated benefit obligation and fair value of plan assets for the pension plans with accumulated benefit obligations in excess of the fair value of plan assets were $591.0 million , $586.5 million and $446.8 million , respectively. At March 31, 2018 , the projected benefit obligation, accumulated benefit obligation and fair value of plan assets for the pension plans with accumulated benefit obligations in excess of the fair value of plan assets were $618.6 million , $613.6 million and $472.8 million , respectively. Other Postretirement Benefits The other postretirement benefit obligation was determined using an assumed health care cost trend rate of 6.3% in fiscal 2020 grading down to 5.0% in fiscal 2024 and thereafter. The discount rate, compensation rate increase and health care cost trend rate assumptions are determined as of the measurement date. Assumed health care cost trend rates have a significant effect on amounts reported for the retiree medical plans. A one-percentage point change in assumed health care cost trend rates would have the following effect (in millions): One Percentage Point Increase One Percentage Point Decrease Years Ended March 31, Years Ended March 31, 2019 2018 2017 2019 2018 2017 Increase (decrease) in total of service and interest cost components $ 0.1 $ 0.1 $ 0.1 $ — $ (0.1 ) $ (0.1 ) Increase (decrease) in postretirement benefit obligation 1.2 1.5 2.1 (1.0 ) (1.3 ) (1.8 ) Multi-Employer and Government-sponsored Plans The Company participated in certain multi-employer and government-sponsored plans for eligible employees. The Company no longer has any employees participating in multi-employer and government-sponsored plans; however, expense recognized related to these plans during the year ended March 31, 2017 was $0.2 million . Defined Contribution Savings Plans The Company sponsors certain defined-contribution savings plans for eligible employees. Expense recognized related to these plans was $15.5 million , $15.0 million , and $12.4 million for the years ended March 31, 2019 , 2018 and 2017 , respectively. Deferred Compensation Plan The Company has a nonqualified deferred compensation plan for certain executives and other highly compensated employees. Assets are invested primarily in mutual funds and corporate-owned life insurance contracts held in a Rabbi trust and restricted for payments to participants of the plan. The assets and liabilities are classified in Other assets and Other liabilities, respectively, on the consolidated balance sheets. Changes in the values of the assets held by the rabbi trust and changes in the value of the deferred compensation liability are recorded in Other expense (income), net in the consolidated statements of operations. The fair values of the Company’s deferred compensation plan assets and liability are included in the table below (in millions). For additional information on the fair value hierarchy and the inputs used to measure fair value, see Note 13 , Fair Value Measurements. Fair Value as of March 31, 2019 Quoted Prices in Significant Other Significant Total Deferred compensation plan assets: Mutual funds (1) $ 2.3 $ — $ — $ 2.3 Corporate-owned life insurance policies (2) — 3.7 — 3.7 Total assets at fair value $ 2.3 $ 3.7 $ — $ 6.0 Deferred compensation liability at fair value (3): $ 6.1 $ — $ — $ 6.1 Fair Value as of March 31, 2018 Quoted Prices in Significant Other Significant Total Deferred compensation plan assets: Mutual funds (1) $ 1.6 $ — $ — $ 1.6 Corporate-owned life insurance policies (2) — 1.9 — 1.9 Total assets at fair value $ 1.6 $ 1.9 $ — $ 3.5 Deferred compensation liability at fair value (3): $ 3.5 $ — $ — $ 3.5 ______________________ (1) The Company has elected to use the fair value option for the mutual funds to better align the measurement of the assets with the measurement of the liability, which are measured using quoted prices of identical instruments in active markets and are categorized as Level 1. (2) The corporate-owned life insurance contracts are recorded at cash surrender value, which is provided by a third party and reflects the net asset value of the underlying publicly traded mutual funds, and are categorized as Level 2. (3) The deferred compensation liability is measured at fair value based on the quoted prices of identical instruments to the investment vehicles selected by the participants.

Income Taxes

Income Taxes	12 Months Ended
	Mar. 31, 2019
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The provision for income taxes consists of amounts for taxes currently payable, amounts for tax items deferred to future periods; as well as, adjustments relating to the Company’s determination of uncertain tax positions, including interest and penalties. The Company recognizes deferred tax assets and liabilities based on the future tax consequences attributable to tax net operating loss ("NOL") carryforwards, capital loss carryforwards, tax credit carryforwards and differences between the financial statement carrying amounts and the tax bases of applicable assets and liabilities. Deferred tax assets are regularly reviewed for recoverability and valuation allowances are established based on historical losses, projected future taxable income and the expected timing of the reversals of existing temporary differences. As a result of this review, the Company established a full valuation allowance against U.S. federal and state capital loss carryforwards and continues to maintain a partial valuation allowance against certain foreign NOL carryforwards and other related foreign deferred tax assets, as well as certain U.S. state NOL carryforwards. On December 22, 2017, the U.S. enacted the Tax Cuts and Jobs Act ("U.S. Tax Reform"). U.S. Tax Reform incorporated significant changes to U.S. corporate income tax laws including, among other items, a reduction in the statutory federal corporate income tax rate from 35% to 21%, an exemption for dividends received from certain foreign subsidiaries, a one-time repatriation tax on deemed repatriated earnings from foreign subsidiaries, immediate taxation of deemed low-taxed "intangible" income earned in foreign jurisdictions (referred to as global intangible low-taxed income or "GILTI"), immediate expensing of certain depreciable tangible assets, limitations on the deduction for net interest expense and certain executive compensation and the repeal of the Domestic Production Activities Deduction ("DPAD"). In acknowledgment of the substantial and substantive changes incorporated in U.S. Tax Reform, in conjunction with the timing of the enactment being just weeks before the majority of the provisions became effective, the SEC staff issued Staff Accounting Bulletin ("SAB") 118 to provide certain guidance in determining the accounting for income tax effects of the legislation in the accounting period of enactment as well as provide a measurement period (similar to that used when accounting for business combinations) within which to finalize and reflect such final effects associated with U.S. Tax Reform. Further, SAB 118 summarized a three-step approach to be applied each reporting period within the overall measurement period: (1) amounts should be reflected in the period including the date of enactment for those items which are deemed to be complete (i.e. all information is available and appropriately analyzed to determine the applicable financial statement impact), (2) to the extent the effects of certain changes due to U.S. Tax Reform for which the accounting is not deemed complete but for which a reasonable estimate can be determined, such provisional amount(s) should be reflected in the period so determined and adjusted in subsequent periods as such effects are finalized and (3) to the extent a reasonable estimate cannot be determined for a specific effect of the tax law change associated with U.S. Tax Reform, no provisional amount should be recorded but rather, continue to apply ASC 740 based upon the tax law in effect prior to the enactment of U.S. Tax Reform. Such measurement period is deemed to end when all necessary information has been obtained, prepared and analyzed such that a final accounting determination can be concluded, but in no event should the period extend beyond one year. In consideration of this guidance, the Company obtained, prepared and analyzed various information associated with the enactment of U.S. Tax Reform (including subsequent Internal Revenue Service ("IRS") Notices, etc.). Based upon this review, the Company recognized an estimated net income tax benefit with respect to U.S. Tax Reform for fiscal 2018 of $66.5 million (including amounts relating to the VAG business). This net income tax benefit reflects a $66.5 million net estimated income tax benefit associated with the remeasurement of the Company’s net U.S. deferred tax liability (including consideration of executive compensation limitations under U.S. Tax Reform), with no net tax impact associated with the one-time repatriation tax. Due to the timing and complexity of the various technical provisions provided for under U.S. Tax Reform, the financial statement impacts recorded for fiscal 2018 relating to U.S. Tax Reform were not deemed to be complete but rather were deemed to be reasonable, provisional estimates based upon the current available information and related interpretations. For example, the Company was required to use estimates for earnings and profits and taxes in conjunction with determining the impact of the one-time repatriation tax. In addition, in relation to the remeasurement of the Company’s net U.S. deferred tax liability (as well as numerous other aspects of U.S. Tax Reform), the Company had to use judgment based upon available guidance and interpretations of such guidance at that time. Future guidance could result in changes to the Company’s interpretation, and as such, result in changes to previously recorded amounts. Such changes are required to be reflected as discrete items in the applicable period. The Company has continued to review and analyze various IRS Notices, proposed regulations and other pertinent information that became available during fiscal 2019. Based upon this review and analysis as well as updates to certain financial information, the Company has determined the net impact of U.S. Tax Reform for fiscal 2018 is a net income tax benefit of $65.9 million . The $0.6 million reduction from the $66.5 million net income tax benefit originally recorded in fiscal 2018 was recorded as a discrete item in the third quarter of fiscal 2019. This reduction consists of a $0.8 million adjustment to the Company’s net U.S. deferred tax liability as of March 31, 2018, partially offset with a $0.2 million net income tax benefit associated with the one-time repatriation tax. The Company considers the net tax benefit recorded for U.S. Tax Reform to be complete at this time. In addition, the Company had been evaluating the potential impact of the GILTI provisions of U.S. Tax Reform. In accordance with U.S. GAAP, any potential impacts of GILTI can either be treated as a period expense in the period incurred or considered in the determination of the Company’s deferred tax balances. The Company had not previously finalized its accounting policy for GILTI, and upon further analysis, including consideration of proposed regulations relating to the GILTI tax provisions and potential future changes to the Company’s existing legal structure, the Company has made the final accounting policy decision to report this item as a period expense in the year the tax is incurred. Although none of the Company’s material foreign subsidiaries operate within tax jurisdictions that would otherwise meet the definition of "low-taxed" as outlined in the GILTI tax rules, the Company is nevertheless subject to the GILTI tax as a result of one particular aspect of the U.S. foreign income tax credit limitation rules requiring the allocation of U.S. interest expense against the GILTI income. Such allocation effectively results in the allocated interest expense being non-deductible for U.S. federal income tax purposes. Were it not for this requirement, the Company would generally not be subject to the GILTI tax as it is currently outlined. Income Tax Provision (Benefit) The components of the provision (benefit) for income taxes are as follows (in millions): Year ended March 31, 2019 2018 2017 Current: United States $ 55.7 $ 29.9 $ 18.9 Non-United States 21.6 23.1 16.0 State and local 8.0 4.1 2.5 Total current 85.3 57.1 37.4 Deferred: United States (23.0 ) (71.5 ) (19.1 ) Non-United States (5.2 ) (3.1 ) (0.9 ) State and local (3.7 ) (2.0 ) (1.8 ) Total deferred (31.9 ) (76.6 ) (21.8 ) Provision (benefit) for income taxes $ 53.4 $ (19.5 ) $ 15.6 The provision (benefit) for income taxes differs from the United States statutory income tax rate due to the following items (in millions): Year ended March 31, 2019 2018 2017 Provision for income taxes at U.S. federal statutory income tax rate $ 50.1 $ 59.0 $ 37.5 State and local income taxes, net of federal benefit 5.3 2.9 1.1 Nef effects of foreign rate differential 1.8 (2.6 ) 0.8 Net effects of foreign operations 1.6 (7.4 ) (5.3 ) Net effect to deferred taxes for changes in tax rates (2.6 ) (0.3 ) (0.3 ) Net effect to deferred taxes for U.S. Tax Reform 0.8 (67.1 ) — Net effect of U.S. Tax Reform transition tax (0.1 ) 0.2 — Net effects of GILTI inclusion 6.5 — — Foreign derived intangible income deduction (1.8 ) — — Unrecognized tax benefits, net of federal benefit (7.0 ) 1.1 1.3 Domestic production activities deduction — (3.2 ) (3.2 ) Research and development credit (0.9 ) (0.9 ) (7.6 ) Excess tax benefits related to equity compensation (1.1 ) (0.5 ) (7.0 ) §162(m) compensation limitation 1.9 1.0 — Net changes in valuation allowance (2.3 ) (2.8 ) (2.3 ) Other 1.2 1.1 0.6 Provision (benefit) for income taxes $ 53.4 $ (19.5 ) $ 15.6 The provision (benefit) for income taxes was calculated based upon the following components of income from continuing operations before income taxes (in millions): Year ended March 31, 2019 2018 2017 United States $ 174.8 $ 117.1 $ 69.1 Non-United States 64.0 70.0 38.2 Income before income taxes $ 238.8 $ 187.1 $ 107.3 Deferred Income Tax Assets and Liabilities Deferred income taxes consist of the tax effects of the following temporary differences (in millions): March 31, 2019 March 31, 2018 Deferred tax assets: Compensation and retirement benefits $ 55.7 $ 47.0 General accruals and reserves 9.8 7.1 State tax net operating loss carryforwards 21.9 23.1 Federal and state capital loss carryforwards 12.7 — Foreign net operating loss and interest carryforwards 6.7 9.2 Other 0.3 3.1 Total deferred tax assets before valuation allowance 107.1 89.5 Valuation allowance (32.4 ) (23.0 ) Total deferred tax assets 74.7 66.5 Deferred tax liabilities: Property, plant and equipment 32.6 33.1 Inventories 15.4 19.7 Intangible assets and goodwill 137.9 142.5 Cancellation of indebtedness — 7.1 Total deferred tax liabilities 185.9 202.4 Net deferred tax liabilities $ 111.2 $ 135.9 Net amount on Consolidated Balance Sheets consists of: Other assets $ 14.7 $ 13.4 Deferred income taxes (125.9 ) (149.3 ) Net long-term deferred tax liabilities $ (111.2 ) $ (135.9 ) Management has reviewed its deferred tax assets and has analyzed the uncertainty with respect to ultimately realizing the related tax benefits associated with such assets. Based upon this analysis, management has determined that a valuation allowance should be established for the federal and state capital loss carryforwards, certain foreign NOL carryforwards and related deferred tax assets, as well as certain state NOL carryforwards as of March 31, 2019. Significant factors considered by management in this determination included the historical operating results of the Company, as well as anticipated reversals of future taxable temporary differences. The increase in the valuation allowance presented above was generally due to federal and state capital loss carryforwards in conjunction with the sale of the VAG business, which management has deemed the realization of such assets as not being more-likely-than-not. Capital losses may generally only be used to offset available capital gains. Federal capital losses are allowed to be carried back three years and carried forward for five. The Company does not have any capital gains in the carryback period with which to offset any portion of the capital loss. States generally follow federal law with respect to capital losses; however, those that do have a modification, such modification (in most cases) is to deny any carryback period. The carryforward periods for the state NOLs range from five to twenty years. The majority of the foreign NOL carryforwards are generally subject to an indefinite expiration period, with the remaining being subject to either a five, nine or twenty year expiration period. At March 31, 2019, the Company had approximately $476.7 million of state NOL carryforwards, expiring over various years ending through March 31, 2034. The Company has a valuation allowance of $17.1 million recorded against the related deferred tax asset. In addition, at March 31, 2019, the Company had approximately $33.6 million of foreign NOL carryforwards in which the majority of these losses can be carried forward indefinitely. There exists a valuation allowance of $2.6 million against the foreign NOL carryforwards as well as certain related deferred tax assets. No provision has been made for United States federal income taxes related to approximately $162.9 million of undistributed earnings of foreign subsidiaries considered to be permanently reinvested. Due to U.S. Tax Reform, the additional income tax liability that would result if such earnings were repatriated to the U.S., other than potential out-of-pocket withholding taxes of approximately $5.3 million , would not be expected to be significant to the Company’s consolidated financial statements. The Company’s total liability for net accrued income taxes as of March 31, 2019 and 2018 was $17.0 million and $1.9 million , respectively. This net amount was presented in the consolidated balance sheets as Income taxes payable (separately disclosed in Other current liabilities) of $20.3 million and $19.4 million as of March 31, 2019 and 2018 , respectively; and as Income taxes receivable of $3.3 million and $17.5 million as of March 31, 2019 and 2018 , respectively. Net cash paid for income taxes to governmental tax authorities for the years ended March 31, 2019 , 2018 and 2017 was $64.7 million , $59.4 million and $35.7 million , respectively. Liability for Unrecognized Tax Benefits The Company's total liability for net unrecognized tax benefits as of March 31, 2019 and March 31, 2018 was $21.8 million and $20.1 million , respectively. The following table represents a reconciliation of the beginning and ending amount of the gross unrecognized tax benefits, excluding interest and penalties, for the fiscal years ended March 31, 2019 and March 31, 2018 (in millions): Year Ended March 31, 2019 2018 Balance at beginning of period $ 15.6 $ 15.0 Additions based on tax positions related to the current year 7.7 0.8 Additions for tax positions of prior years 4.7 — Reductions for tax positions of prior years — — Settlements (2.3 ) — Reductions due to lapse of applicable statute of limitations (7.1 ) (0.6 ) Cumulative translation adjustment (0.3 ) 0.4 Balance at end of period $ 18.3 $ 15.6 The Company recognizes accrued interest and penalties related to unrecognized tax benefits in income tax expense. As of March 31, 2019 and March 31, 2018 , the total amount of unrecognized tax benefits includes $4.3 million and $5.7 million of gross accrued interest and penalties, respectively. The amount of interest and penalties recorded as income tax (benefit) expense during the fiscal years ended March 31, 2019 , 2018 , and 2017 was $(1.0) million , $1.0 million , and $0.6 million , respectively. The Company conducts business in multiple locations within and outside the U.S. Consequently, the Company is subject to periodic income tax examinations by domestic and foreign income tax authorities. Currently, the Company is undergoing routine, periodic income tax examinations in both domestic and foreign jurisdictions. During the second quarter of fiscal 2019, the IRS completed an income tax examination of the Company’s amended U.S. consolidated federal income tax return for the tax year ended March 31, 2015, and the Company paid approximately $0.4 million upon conclusion of such examination. During the fourth quarter of fiscal 2019, the Company was notified by the IRS of its intention to conduct an income tax examination of the Company’s U.S. consolidated federal income tax returns for the tax years ended March 31, 2016 and 2017. The Company anticipates the related fieldwork will begin during the first quarter of fiscal 2020. It appears reasonably possible that the amounts of unrecognized income tax benefits could change in the next twelve months upon conclusion of the Company’s current ongoing examinations; however, any potential payments of income tax, interest and penalties are not expected to be significant to the Company's consolidated financial statements. With certain exceptions, the Company is no longer subject to U.S. federal income tax examinations for tax years ending prior to March 31, 2016, state and local income tax examinations for years ending prior to fiscal 2015 or significant foreign income tax examinations for years ending prior to fiscal 2014.

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Mar. 31, 2019
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Contingencies: The Company's subsidiaries are involved in various unresolved legal actions, administrative proceedings and claims in the ordinary course of business involving, among other things, product liability, commercial, employment, workers' compensation, intellectual property claims and environmental matters. The Company establishes accruals in a manner that is consistent with accounting principles generally accepted in the United States for costs associated with such matters when liability is probable and those costs are capable of being reasonably estimated. Although it is not possible to predict with certainty the outcome of these unresolved legal actions or the range of possible loss or recovery, based upon current information, management believes the eventual outcome of these unresolved legal actions, either individually or in the aggregate, will not have a material adverse effect on the financial position, results of operations or cash flows of the Company. In connection with its sale, Invensys plc ("Invensys") provided the Company with indemnification against certain contingent liabilities, including certain pre-closing environmental liabilities. The Company believes that, pursuant to such indemnity obligations, Invensys is obligated to defend and indemnify the Company with respect to the matters described below relating to the Ellsworth Industrial Park Site and to various asbestos claims. The indemnity obligations relating to the matters described below are subject, together with indemnity obligations relating to other matters, to an overall dollar cap equal to the purchase price, which is an amount in excess of $900 million . The following paragraphs summarize the most significant actions and proceedings: • In 2002, Rexnord Industries, LLC ("Rexnord Industries") was named as a potentially responsible party ("PRP"), together with at least ten other companies, at the Ellsworth Industrial Park Site, Downers Grove, DuPage County, Illinois (the "Site"), by the United States Environmental Protection Agency ("USEPA"), and the Illinois Environmental Protection Agency ("IEPA"). Rexnord Industries' Downers Grove property is situated within the Ellsworth Industrial Complex. The USEPA and IEPA allege there have been one or more releases or threatened releases of chlorinated solvents and other hazardous substances, pollutants or contaminants, allegedly including but not limited to a release or threatened release on or from the Company's property, at the Site. The relief sought by the USEPA and IEPA includes further investigation and potential remediation of the Site and reimbursement of USEPA's past costs. Rexnord Industries' allocated share of past and future costs related to the Site, including for investigation and/or remediation, could be significant. All previously pending property damage and personal injury lawsuits against the Company related to the Site have been settled or dismissed. Pursuant to its indemnity obligation, Invensys continues to defend the Company in known matters related to the Site and has paid 100% of the costs to date. • Multiple lawsuits (with approximately 300 claimants) are pending in state or federal court in numerous jurisdictions relating to alleged personal injuries due to the alleged presence of asbestos in certain brakes and clutches previously manufactured by the Company's Stearns division and/or its predecessor owners. Invensys and FMC, prior owners of the Stearns business, have paid 100% of the costs to date related to the Stearns lawsuits. Similarly, the Company's Prager subsidiary is the subject of claims by multiple claimants alleging personal injuries due to the alleged presence of asbestos in a product allegedly manufactured by Prager. However, all these claims are currently on the Texas Multi-district Litigation inactive docket, and the Company does not believe that they will become active in the future. To date, the Company's insurance providers have paid 100% of the costs related to the Prager asbestos matters. The Company believes that the combination of its insurance coverage and the Invensys indemnity obligations will cover any future costs of these matters. In connection with the Company's acquisition of The Falk Corporation ("Falk"), Hamilton Sundstrand provided the Company with indemnification against certain products-related asbestos exposure liabilities. The Company believes that, pursuant to such indemnity obligations, Hamilton Sundstrand is obligated to defend and indemnify the Company with respect to the asbestos claims described below, and that, with respect to these claims, such indemnity obligations are not subject to any time or dollar limitations. The following paragraph summarizes the most significant actions and proceedings for which Hamilton Sundstrand has accepted responsibility: • Falk, through its successor entity, is a defendant in multiple lawsuits pending in state or federal court in numerous jurisdictions relating to alleged personal injuries due to the alleged presence of asbestos in certain clutches and drives previously manufactured by Falk. There are approximately 100 claimants in these suits. The ultimate outcome of these lawsuits cannot presently be determined. Hamilton Sundstrand is defending the Company in these lawsuits pursuant to its indemnity obligations and has paid 100% of the costs to date. Certain Water Management subsidiaries are also subject to asbestos litigation. As of March 31, 2019 , Zurn and numerous other unrelated companies were defendants in approximately 6,000 asbestos related lawsuits representing approximately 14,000 claims. Plaintiffs' claims allege personal injuries caused by exposure to asbestos used primarily in industrial boilers formerly manufactured by a segment of Zurn. Zurn did not manufacture asbestos or asbestos components. Instead, Zurn purchased them from suppliers. These claims are being handled pursuant to a defense strategy funded by insurers. As of March 31, 2019 , the Company estimates the potential liability for the asbestos-related claims described above, as well as the claims expected to be filed in the next ten years, to be approximately $40.0 million , of which Zurn expects its insurance carriers to pay approximately $30.0 million in the next ten years on such claims, with the balance of the estimated liability being paid in subsequent years. The $40.0 million was developed based on actuarial studies and represents the projected indemnity payout for current and future claims. There are inherent uncertainties involved in estimating the number of future asbestos claims, future settlement costs, and the effectiveness of defense strategies and settlement initiatives. As a result, actual liability could differ from the estimate described herein and could be substantial. The liability for the asbestos-related claims is recorded in Other liabilities within the consolidated balance sheets. Management estimates that its available insurance to cover this potential asbestos liability as of March 31, 2019 , is in excess of the ten year estimated exposure, and accordingly, believes that all current claims are covered by insurance. As of March 31, 2019 , the Company had a recorded receivable from its insurance carriers of $40.0 million , which corresponds to the amount of this potential asbestos liability that is covered by available insurance and is currently determined to be probable of recovery. However, there is no assurance the Company's current insurance coverage will ultimately be available or that this asbestos liability will not ultimately exceed the Company's coverage limits. Factors that could cause a decrease in the amount of available coverage or create gaps in coverage include: changes in law governing the policies, potential disputes and settlements with the carriers regarding the scope of coverage, and insolvencies of one or more of the Company's carriers. The receivable for probable asbestos-related recoveries is recorded in Other assets within the condensed consolidated balance sheets. Certain Company subsidiaries were named as defendants in a number of individual and class action lawsuits in various United States courts claiming damages due to the alleged failure or anticipated failure of Zurn brass fittings on the PEX plumbing systems in homes and other structures. In fiscal 2013, the Company reached a court-approved agreement to settle the liability underlying this litigation. The settlement is designed to resolve, on a national basis, the Company's overall exposure for both known and unknown claims related to the alleged failure or anticipated failure of such fittings, subject to the right of eligible class members to opt-out of the settlement and pursue their claims independently. The settlement utilizes a seven year claims fund, which is capped at $20.0 million , and is funded in installments over the seven year period based on claim activity and minimum funding criteria. The settlement also covers class action plaintiffs' attorneys' fees and expenses. Historically, the Company's insurance carrier had funded the Company's defense in the above referenced proceedings. The Company, however, reached a settlement agreement with its insurer, whereby the insurer paid the Company a lump sum in exchange for a release of future exposure related to this liability. The Company has recorded an accrual related to this brass fittings liability, which takes into account, in pertinent part, the insurance carrier contribution, as well as exposure from the claims fund and the waiver of future insurance coverage. Sale-Leaseback Transaction: During fiscal 2018, the Company entered into a sale-leaseback arrangement for an owned facility in Downer's Grove, Illinois, and received net proceeds from the transaction of $5.8 million . The property did not qualify for sale accounting under the sale-leaseback accounting guidance as a result has accounted for the proceeds received as a financing transaction classified in the consolidated balance sheets in other liabilities. No gain or loss was recognized from the transaction. The Company depreciated the remaining carrying value of the old facility over the remaining useful life. As a result of the Company's continuing involvement with the new manufacturing facility during the construction period, the Company is considered, for accounting purposes only, the owner of the new facility and accordingly has recorded the building asset within its consolidated balance sheets. The Company has recorded a financing obligation associated with the new building of $23.0 million and $7.5 million as of March 31, 2019 and 2018, respectively, and a construction asset of approximately the same value.

Public Offering and Common Stoc

Public Offering and Common Stock Repurchases	12 Months Ended
	Mar. 31, 2019
Equity [Abstract]
Public Offering and Common Stock Repurchases	Public Offering and Common Stock Repurchases Preferred Stock On December 7, 2016, the Company issued 8,050,000 depositary shares, each of which represents a 1/20th interest in a share of 5.75% Series A Mandatory Convertible Preferred Stock (the "Series A Preferred Stock"), for an offering price of $50 per depositary share. The Company issued an aggregate of 402,500 shares of Series A Preferred Stock in connection therewith. Unless converted earlier, each share of Series A Preferred Stock will convert automatically on the mandatory conversion date, which is November 15, 2019, into between 39.7020 and 47.6420 shares of the Company’s common stock, subject to customary anti-dilution adjustments. The number of shares of common stock issuable upon conversion will be determined based on a defined average volume weighted average price per share of the Company’s common stock preceding November 15, 2019. Holders of the Series A Preferred Stock may elect on a voluntary basis to convert their shares into common stock at the minimum exchange ratio at any time prior to the mandatory conversion date. Dividends accumulate from the issuance date. Rexnord may pay such dividends in cash or, subject to certain limitations, by delivery of shares of the Company's common stock or through any combination of cash and shares of the Company's common stock as determined by the Company in its sole discretion. Dividends are payable quarterly, commencing on February 15, 2017 and ending on November 15, 2019. Any unpaid dividends will continue to accumulate. The shares of Series A Preferred Stock have a liquidation preference of $1,000 per share, plus accrued dividends. With respect to dividend and liquidation rights, the Series A Preferred Stock ranks senior to the Company's common stock and junior to all existing and future indebtedness. The net proceeds from the offering were approximately $389.7 million . The Company used $195.0 million of the proceeds to prepay a portion of the then-outstanding term loan indebtedness under the Credit Agreement, with the remainder retained for general corporate purposes. The Company accrued $23.2 million , $23.2 million , and $7.3 million of dividends and paid $23.2 million, $23.2 million , and $4.4 million in cash related to these dividends during fiscal 2019 , 2018 , and 2017 , respectively. As of March 31, 2019 , there were no dividends in arrears on the Series A Preferred Stock. Issuer Repurchases of Equity Securities During fiscal 2015, the Company's Board of Directors approved a common stock repurchase program (the "Repurchase Program") authorizing the repurchase of up to $200.0 million of the Company's common stock from time to time on the open market or in privately negotiated transactions. The Repurchase Program does not require the Company to acquire any particular amount of common stock and does not specify the timing of purchases or the prices to be paid. No shares of common stock were repurchased in fiscal 2019 , 2018 or 2017 . At March 31, 2019 , approximately $160.0 million of repurchase authority remained.

Business Segment Information

Business Segment Information	12 Months Ended
	Mar. 31, 2019
Segment Reporting [Abstract]
Business Segment Information	Business Segment Information The results of operations are reported in two business segments, consisting of the Process & Motion Control platform and the Water Management platform. The Process & Motion Control platform designs, manufactures, markets and services a comprehensive range of specified, highly-engineered mechanical components used within complex systems where customers' reliability requirements and costs of failure or downtime are high. The Process & Motion Control portfolio includes motion control products, shaft management products, aerospace components, and related value-added services. Products and services are marketed and sold globally under widely recognized brand names, including Rexnord®, Rex®, Addax®, Euroflex®, Falk®, FlatTop®, Cambridge®, Link-Belt®, Omega®, PSI®, Shafer®, Stearns®, Highfield®, Thomas®, Centa® and Tollok™. Process & Motion Control products and services are sold into a diverse group of attractive end markets, including food and beverage, aerospace, mining, petrochemical, energy and power generation, cement and aggregates, forest and wood products, agriculture, and general industrial and automation applications. The Water Management platform designs, procures, manufactures, and markets products that provide and enhance water quality, safety, flow control and conservation. The Water Management product portfolio includes professional grade water control and safety, water distribution and drainage, finish plumbing, and site works products for primarily nonresidential buildings and flow control products for water infrastructure markets. Products are marketed and sold under widely recognized brand names, including Zurn®, Wilkins®, Green Turtle® and World Dryer®. The financial information of the Company's segments is regularly evaluated by the chief operating decision maker in determining resource allocation and assessing performance. Management evaluates the performance of each business segment based on its operating results. The same accounting policies are used throughout the organization (see Note 2 , Significant Accounting Policies). In fiscal 2019, the net assets of the Company’s former VAG business, which was included within the Water Management platform, met the criteria to be classified as "held for sale" and, in accordance with the authoritative guidance, the operating results of the VAG business, which, as previously disclosed, was sold during the third quarter of fiscal 2019, are reported as discontinued operations in all periods presented. Therefore, the following business segment information reflects the continuing operations of the Water Management platform. See Note 4, Discontinued Operations for further information. Business Segment Information: (in Millions) Year Ended March 31, 2019 March 31, 2018 March 31, 2017 Net sales by product Process & Motion Control: Original equipment manufacturers/ end-users $ 768.5 $ 690.5 $ 594.6 Maintenance, repair, and operations 612.1 550.7 540.1 Total Process & Motion Control 1,380.6 1,241.2 1,134.7 Water Management: Water safety, quality, flow control and conservation 624.4 566.9 538.9 Water infrastructure 45.9 43.5 38.9 Total Water Management 670.3 610.4 577.8 Consolidated net sales 2,050.9 1,851.6 1,712.5 Income (loss) from operations Process & Motion Control 226.1 191.3 133.0 Water Management 139.7 125.7 112.3 Corporate (60.2 ) (50.6 ) (42.1 ) Consolidated income from operations 305.6 266.4 203.2 Non-operating expense: Interest expense, net (69.9 ) (75.1 ) (88.3 ) Gain (loss) on the extinguishment of debt 4.3 (11.9 ) (7.8 ) Other (expense) income, net (1.2 ) 7.7 0.2 Income from continuing operations before income taxes 238.8 187.1 107.3 (Provision) benefit for income taxes (53.4 ) 19.5 (15.6 ) Equity method investment income 3.6 — — Net income from continuing operations 189.0 206.6 91.7 Loss from discontinued operations, net of tax (154.7 ) (130.6 ) (17.6 ) Net income 34.3 76.0 74.1 Non-controlling interest income — 0.1 — Net income attributable to Rexnord 34.3 75.9 74.1 Dividends on preferred stock (23.2 ) (23.2 ) (7.3 ) Net income attributable to Rexnord common stockholders $ 11.1 $ 52.7 $ 66.8 Depreciation and Amortization Process & Motion Control $ 63.0 $ 56.0 $ 69.9 Water Management 24.9 23.7 26.2 Consolidated $ 87.9 $ 79.7 $ 96.1 Capital Expenditures Process & Motion Control $ 36.3 $ 34.2 $ 42.0 Water Management 6.2 3.8 8.8 Consolidated $ 42.5 $ 38.0 $ 50.8 March 31, 2019 March 31, 2018 March 31, 2017 Total Assets Process & Motion Control $ 2,677.7 $ 2,598.8 $ 2,671.4 Water Management 576.8 820.9 862.3 Corporate 5.2 4.0 5.6 Consolidated $ 3,259.7 $ 3,423.7 $ 3,539.3 Net sales to third parties and long-lived assets by geographic region are as follows (in millions): Net Sales Long-lived Assets Year Ended March 31, 2019 Year Ended March 31, 2018 Year Ended March 31, 2017 March 31, 2019 March 31, 2018 March 31, 2017 United States $ 1,460.6 $ 1,361.6 $ 1,285.1 $ 260.7 $ 260.9 $ 261.9 Europe 327.5 255.5 218.9 78.9 91.2 37.7 Rest of World 262.8 234.5 208.5 43.4 44.4 41.9 $ 2,050.9 $ 1,851.6 $ 1,712.5 $ 383.0 $ 396.5 $ 341.5 Net sales to third parties are attributed to the geographic regions based on the country in which the shipment originates. Amounts attributed to the geographic regions for long-lived assets are based on the location of the entity that holds such assets. In accordance with ASC 280, Segment Reporting , long-lived assets includes movable assets and excludes net intangible assets and goodwill.

Quarterly Results of Operations

Quarterly Results of Operations (unaudited)	12 Months Ended
	Mar. 31, 2019
Quarterly Financial Information Disclosure [Abstract]
Quarterly Results of Operations (unaudited)	Quarterly Results of Operations (unaudited) (in millions, except per share amounts) Fiscal 2019 First Quarter (1) Second Quarter (2) Third Quarter (3) Fourth Quarter Total Net sales $ 503.6 $ 524.8 $ 485.0 $ 537.5 $ 2,050.9 Gross profit 195.5 203.2 184.3 201.8 784.8 Net income from continuing operations 42.2 46.2 52.9 47.7 189.0 Loss from discontinued operations, net of tax (42.8 ) (83.7 ) (27.8 ) (0.4 ) (154.7 ) Net (loss) income (0.6 ) (37.5 ) 25.1 47.3 34.3 Non-controlling interest income (loss) 0.1 0.1 (0.3 ) 0.1 — Net (loss) income attributable to Rexnord (0.7 ) (37.6 ) 25.4 47.2 34.3 Dividends on preferred stock (5.8 ) (5.8 ) (5.8 ) (5.8 ) (23.2 ) Net (loss) income attributable to Rexnord common stockholders $ (6.5 ) $ (43.4 ) $ 19.6 $ 41.4 $ 11.1 Basic net income (loss) per share attributable to Rexnord common stockholders Continuing operations $ 0.35 $ 0.39 $ 0.45 $ 0.40 $ 1.58 Discontinued operations $ (0.41 ) $ (0.80 ) $ (0.27 ) $ — $ (1.48 ) Net (loss) income $ (0.06 ) $ (0.42 ) $ 0.19 $ 0.39 $ 0.11 Diluted net income (loss) per share attributable to Rexnord common stockholders Continuing operations $ 0.34 $ 0.37 $ 0.43 $ 0.39 $ 1.53 Discontinued operations $ (0.40 ) $ (0.68 ) $ (0.23 ) $ — $ (1.25 ) Net (loss) income $ (0.06 ) $ (0.30 ) $ 0.21 $ 0.38 $ 0.28 ______________________ (1) The first quarter of fiscal 2019 included a $44.0 million non-cash asset impairment to reduce the carrying amount of the held-for-sale VAG business to its estimated fair value less costs to sell. Refer to Note 4 , Discontinued Operations for additional information. (2) The second quarter of fiscal 2019 included an $82.0 million non-cash asset impairment charge to reduce the carrying amount of the held-for-sale VAG business to its estimated fair value less costs to sell. Refer to Note 4 , Discontinued Operations for additional information. (3) The third quarter of fiscal 2019 included a $19.7 million non-cash pre-tax loss on the sale of the VAG business, which was completed during the quarter. Refer to Note 4 , Discontinued Operations for additional information. Fiscal 2018 First Quarter Second Quarter Third Quarter (1) Fourth Quarter (2) Total Net sales $ 443.2 $ 453.8 $ 436.7 $ 517.9 $ 1,851.6 Gross profit 164.1 173.6 170.1 198.7 706.5 Net income from continuing operations 29.4 33.3 85.9 58.0 206.6 Loss from discontinued operations, net of tax (2.9 ) (3.5 ) (4.3 ) (119.9 ) (130.6 ) Net income (loss) 26.5 29.8 81.6 (61.9 ) 76.0 Non-controlling interest income — — — 0.1 0.1 Net income attributable to Rexnord 26.5 29.8 81.6 (62.0 ) 75.9 Dividends on preferred stock (5.8 ) (5.8 ) (5.8 ) (5.8 ) (23.2 ) Net income (loss) attributable to Rexnord common stockholders $ 20.7 $ 24.0 $ 75.8 $ (67.8 ) $ 52.7 Basic net income (loss) per share attributable to Rexnord common stockholders Continuing operations $ 0.23 $ 0.26 $ 0.77 $ 0.50 $ 1.76 Discontinued operations $ (0.03 ) $ (0.03 ) $ (0.04 ) $ (1.15 ) $ (1.26 ) Net income (loss) $ 0.20 $ 0.23 $ 0.73 $ (0.65 ) $ 0.51 Diluted net income (loss) per share attributable to Rexnord common stockholders Continuing operations $ 0.23 $ 0.26 $ 0.70 $ 0.47 $ 1.69 Discontinued operations $ (0.03 ) $ (0.03 ) $ (0.04 ) $ (0.98 ) $ (1.07 ) Net income (loss) $ 0.20 $ 0.23 $ 0.67 $ (0.51 ) $ 0.62 ______________________ (1) The third quarter of fiscal 2018 included a $65.9 million net income tax benefit associated with the remeasurement of the Company's net U.S. deferred tax liability as a result of U.S. tax reform. Refer to Note 17 , Income Taxes for additional information. (2) The fourth quarter of fiscal 2018 included a $111.2 million non-cash goodwill impairment charge related to the VAG business. Refer to Note 4 , Discontinued Operations for additional information.

Guarantor Subsidiaries

Guarantor Subsidiaries	12 Months Ended
	Mar. 31, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Guarantor Subsidiaries	Guarantor Subsidiaries The following schedules present condensed consolidating financial information of the Company as of March 31, 2019 and 2018 , and for the twelve-month periods ended March 31, 2019 , 2018 and 2017 for (a) Rexnord Corporation, the parent company (the "Parent") (b) RBS Global, Inc. and its wholly-owned subsidiary Rexnord LLC, which together are co-issuers (the "Issuers") of the outstanding Notes; (c) on a combined basis, the domestic subsidiaries of the Company, all of which are wholly-owned by the Issuers (collectively, the "Guarantor Subsidiaries") and guarantors of those Notes; and (d) on a combined basis, the foreign subsidiaries of the Company (collectively, the "Non-Guarantor Subsidiaries"). Separate financial statements of the Guarantor Subsidiaries are not presented because their guarantees of the Notes are full, unconditional and joint and several, and the Company believes separate financial statements and other disclosures regarding the Guarantor Subsidiaries are not material to investors. Condensed Consolidating Balance Sheets March 31, 2019 (in millions) Parent Issuers Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated Assets Current assets: Cash and cash equivalents $ 1.4 $ 0.2 $ 107.7 $ 183.2 $ — $ 292.5 Receivables, net — — 219.6 114.7 — 334.3 Inventories — — 214.3 102.2 — 316.5 Income tax receivable — — 0.5 2.8 — 3.3 Other current assets — — 12.5 23.8 — 36.3 Total current assets 1.4 0.2 554.6 426.7 — 982.9 Property, plant and equipment, net — — 251.2 131.8 — 383.0 Intangible assets, net — — 411.6 99.9 — 511.5 Goodwill — — 1,017.1 282.6 — 1,299.7 Investment in: Issuer subsidiaries 1,212.1 — — — (1,212.1 ) — Guarantor subsidiaries — 3,146.0 — — (3,146.0 ) — Non-guarantor subsidiaries — — 547.4 — (547.4 ) — Other assets — 1.1 63.1 18.4 — 82.6 Total assets $ 1,213.5 $ 3,147.3 $ 2,845.0 $ 959.4 $ (4,905.5 ) $ 3,259.7 Liabilities and stockholders' equity Current liabilities: Current maturities of debt $ — $ — $ 0.1 $ 1.1 $ — $ 1.2 Trade payables — — 129.7 62.0 — 191.7 Compensation and benefits — — 42.4 21.3 — 63.7 Current portion of pension and postretirement benefit obligations — — 1.9 1.4 — 3.3 Other current liabilities 3.0 7.5 90.3 36.3 — 137.1 Total current liabilities 3.0 7.5 264.4 122.1 — 397.0 Long-term debt — 1,213.4 14.4 9.0 — 1,236.8 Note (receivable from) payable to affiliates, net (20.7 ) 714.3 (879.0 ) 185.4 — — Pension and postretirement benefit obligations — — 112.9 45.1 — 158.0 Deferred income taxes — — 98.8 27.1 — 125.9 Other liabilities 0.2 — 87.4 23.4 — 111.0 Total liabilities (17.5 ) 1,935.2 (301.1 ) 412.1 — 2,028.7 Total stockholders' equity 1,231.0 1,212.1 3,146.1 547.3 (4,905.5 ) 1,231.0 Total liabilities and stockholders' equity $ 1,213.5 $ 3,147.3 $ 2,845.0 $ 959.4 $ (4,905.5 ) $ 3,259.7 Condensed Consolidating Balance Sheets March 31, 2018 (in millions) Parent Issuers Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated Assets Current assets: Cash and cash equivalents $ — $ — $ 40.2 $ 153.0 $ — $ 193.2 Receivables, net — — 200.4 114.3 — 314.7 Inventories — — 196.3 107.8 — 304.1 Income tax receivable 7.4 — 5.4 4.7 — 17.5 Other current assets — — 12.0 25.9 — 37.9 Current assets held for sale — — 12.1 118.2 — 130.3 Total current assets 7.4 — 466.4 523.9 — 997.7 Property, plant and equipment, net — — 250.1 146.4 — 396.5 Intangible assets, net — — 438.8 92.1 — 530.9 Goodwill — — 1,010.6 265.5 — 1,276.1 Investment in: Issuer subsidiaries 1,177.5 — — — (1,177.5 ) — Guarantor subsidiaries — 3,053.3 — — (3,053.3 ) — Non-guarantor subsidiaries — — 602.3 — (602.3 ) — Other assets 40.5 1.4 34.2 37.9 — 114.0 Non-current assets held for sale — — 8.0 100.5 — 108.5 Total assets $ 1,225.4 $ 3,054.7 $ 2,810.4 $ 1,166.3 $ (4,833.1 ) $ 3,423.7 Liabilities and stockholders' equity Current liabilities: Current maturities of debt $ — $ — $ 0.1 $ 3.8 $ — $ 3.9 Trade payables — — 128.8 61.1 — 189.9 Compensation and benefits — — 41.5 22.4 — 63.9 Current portion of pension and postretirement benefit obligations — — 2.4 1.6 — 4.0 Other current liabilities 3.0 9.4 74.0 41.0 — 127.4 Current liabilities held for sale — — 6.0 59.1 — 65.1 Total current liabilities 3.0 9.4 252.8 189.0 — 454.2 Long-term debt — 1,285.8 55.8 10.5 — 1,352.1 Note payable to (receivable from) affiliates, net 9.4 581.3 (845.6 ) 254.9 — — Pension and postretirement benefit obligations — — 114.7 48.5 — 163.2 Deferred income taxes — 0.7 116.2 32.4 — 149.3 Other liabilities 0.2 — 62.3 15.8 — 78.3 Non-current liabilities held for sale — — 0.9 12.9 — 13.8 Total liabilities 12.6 1,877.2 (242.9 ) 564.0 — 2,210.9 Total stockholders' equity 1,212.8 1,177.5 3,053.3 602.3 (4,833.1 ) 1,212.8 Total liabilities and stockholders' equity $ 1,225.4 $ 3,054.7 $ 2,810.4 $ 1,166.3 $ (4,833.1 ) $ 3,423.7 Condensed Consolidating Statements of Operations For the Year Ended March 31, 2019 (in millions) Parent Issuers Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated Net sales $ — $ — $ 1,565.0 $ 672.6 $ (186.7 ) $ 2,050.9 Cost of sales — — 977.1 475.7 (186.7 ) 1,266.1 Gross profit — — 587.9 196.9 — 784.8 Selling, general and administrative expenses — — 328.8 104.3 — 433.1 Restructuring and other similar charges — — 7.6 4.5 — 12.1 Amortization of intangible assets — — 27.5 6.5 — 34.0 Income from operations — — 224.0 81.6 — 305.6 Non-operating (expense) income: Interest income (expense), net: To third parties — (68.2 ) (2.0 ) 0.3 — (69.9 ) To affiliates 2.0 61.7 (53.2 ) (10.5 ) — — (Loss) gain on the extinguishment of debt — (0.7 ) 5.0 — — 4.3 Other income (expense), net — 0.3 4.1 (5.6 ) — (1.2 ) Income (loss) from continuing operations before income taxes 2.0 (6.9 ) 177.9 65.8 — 238.8 Provision for income taxes — — (44.5 ) (8.9 ) — (53.4 ) Equity method investment income — — — 3.6 — 3.6 Income (loss) before equity in income of subsidiaries 2.0 (6.9 ) 133.4 60.5 — 189.0 Equity in earnings (loss) of subsidiaries 32.3 39.2 (51.9 ) — (19.6 ) — Net income from continuing operations 34.3 32.3 81.5 60.5 (19.6 ) 189.0 Loss from discontinued operations, net of tax — — (42.3 ) (112.4 ) — (154.7 ) Net income (loss) 34.3 32.3 39.2 (51.9 ) (19.6 ) 34.3 Non-controlling interest income — — — — — — Net income (loss) attributable to Rexnord 34.3 32.3 39.2 (51.9 ) (19.6 ) 34.3 Dividends on preferred stock (23.2 ) — — — — (23.2 ) Net income (loss) attributable to Rexnord common stockholders 11.1 32.3 39.2 (51.9 ) (19.6 ) 11.1 Comprehensive income (loss) $ 34.3 $ 22.5 $ 34.1 $ (59.5 ) $ (19.6 ) $ 11.8 Condensed Consolidating Statements of Operations For the Year Ended March 31, 2018 (in millions) Parent Issuers Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated Net sales $ — $ — $ 1,457.3 $ 566.9 $ (172.6 ) $ 1,851.6 Cost of sales — — 910.3 407.4 (172.6 ) 1,145.1 Gross profit — — 547.0 159.5 — 706.5 Selling, general and administrative expenses — — 310.5 83.3 — 393.8 Restructuring and other similar charges — 12.8 1.3 — 14.1 Amortization of intangible assets — — 26.6 5.6 — 32.2 Income from operations — — 197.1 69.3 — 266.4 Non-operating (expense) income: Interest income (expense), net: To third parties — (75.3 ) (0.4 ) 0.6 — (75.1 ) To affiliates 3.0 27.4 (13.1 ) (17.3 ) — — Loss on the extinguishment of debt — (11.9 ) — — — (11.9 ) Other (expense) income, net — — (1.3 ) 9.0 — 7.7 Income (loss) from continuing operations before income taxes 3.0 (59.8 ) 182.3 61.6 — 187.1 Benefit (provision) for income taxes — — 39.7 (20.2 ) — 19.5 Net income (loss) before equity in loss of subsidiaries 3.0 (59.8 ) 222.0 41.4 — 206.6 Equity in earnings of subsidiaries 73.0 132.8 30.7 — (236.5 ) — Net income from continuing operations 76.0 73.0 252.7 41.4 (236.5 ) 206.6 Loss from discontinued operations, net of tax — — (119.9 ) (10.7 ) — (130.6 ) Net income 76.0 73.0 132.8 30.7 (236.5 ) 76.0 Non-controlling interest income — — — 0.1 — 0.1 Net income attributable to Rexnord 76.0 73.0 132.8 30.6 (236.5 ) 75.9 Dividends on preferred stock (23.2 ) — — — — (23.2 ) Net income attributable to Rexnord common stockholders 52.8 73.0 132.8 30.6 (236.5 ) 52.7 Comprehensive income $ 76.0 $ 89.2 $ 135.6 $ 74.6 $ (236.5 ) $ 138.9 Condensed Consolidating Statements of Operations For the Year Ended March 31, 2017 (in millions) Parent Issuers Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated Net sales $ — $ — $ 1,372.3 $ 455.2 $ (115.0 ) $ 1,712.5 Cost of sales — — 878.0 323.1 (115.0 ) 1,086.1 Gross profit — — 494.3 132.1 — 626.4 Selling, general and administrative expenses — — 286.1 70.0 — 356.1 Restructuring and other similar charges — — 24.9 1.2 — 26.1 Amortization of intangible assets — — 35.1 5.9 — 41.0 Income from operations — — 148.2 55.0 — 203.2 Non-operating (expense) income: Interest income (expense), net: To third parties — (88.1 ) (0.4 ) 0.2 — (88.3 ) To affiliates 1.1 74.3 (53.4 ) (22.0 ) — — Loss on the extinguishment of debt — (7.8 ) — — — (7.8 ) Other (expense) income, net — (0.3 ) (0.4 ) 0.9 — 0.2 Income (loss) from continuing operations before income taxes 1.1 (21.9 ) 94.0 34.1 — 107.3 Provision for income taxes — (0.1 ) (0.4 ) (15.1 ) — (15.6 ) Net income (loss) before equity in earnings of subsidiaries 1.1 (22.0 ) 93.6 19.0 — 91.7 Equity in earnings of subsidiaries 73.0 95.0 13.0 — (181.0 ) — Net income from continuing operations 74.1 73.0 106.6 19.0 (181.0 ) 91.7 Loss from discontinued operations, net of tax — — (11.6 ) (6.0 ) — (17.6 ) Net income 74.1 73.0 95.0 13.0 (181.0 ) 74.1 Non-controlling interest loss — — — — — — Net income attributable to Rexnord 74.1 73.0 95.0 13.0 (181.0 ) 74.1 Dividends on preferred stock (7.3 ) — — — — (7.3 ) Net income attributable to Rexnord common stockholders 66.8 73.0 95.0 13.0 (181.0 ) 66.8 Comprehensive income $ 74.1 $ 77.5 $ 86.0 $ 19.5 $ (181.0 ) $ 76.1 Condensed Consolidating Statements of Cash Flows For the Year Ended March 31, 2019 (in millions) Parent Issuer Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated Operating activities Cash provided by operating activities $ 19.9 $ 75.2 $ 112.9 $ 50.1 $ — $ 258.1 Investing activities Expenditures for property, plant and equipment — — (33.0 ) (11.9 ) — (44.9 ) Acquisitions, net of cash acquired — — (2.0 ) (21.4 ) — (23.4 ) Proceeds from dispositions of long-lived assets — — 4.7 — — 4.7 Cash dividend from equity method investment — — — 1.3 — 1.3 Net proceeds from divestiture of discontinued operations — — 3.0 6.0 — 9.0 Cash used for investing activities — — (27.3 ) (26.0 ) — (53.3 ) Financing activities Proceeds from borrowings of debt — — 268.0 2.8 — 270.8 Repayments of debt — (75.0 ) (286.8 ) (7.2 ) — (369.0 ) Payments of preferred stock dividends (23.2 ) — — — — (23.2 ) Proceeds from exercise of stock options 7.9 — — — — 7.9 Taxes withheld and paid on employees' share-based payment awards (3.2 ) — — — — (3.2 ) Cash used for financing activities (18.5 ) (75.0 ) (18.8 ) (4.4 ) — (116.7 ) Effect of exchange rate changes on cash, cash equivalents and restricted cash — — — (13.2 ) — (13.2 ) Increase in cash, cash equivalents and restricted cash 1.4 0.2 66.8 6.5 — 74.9 Cash, cash equivalents and restricted cash at beginning of period — — 40.9 176.7 — 217.6 Cash, cash equivalents and restricted cash at end of period $ 1.4 $ 0.2 $ 107.7 $ 183.2 $ — $ 292.5 Condensed Consolidating Statements of Cash Flows For the Year Ended March 31, 2018 (in millions) Parent Issuer Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated Operating activities Cash provided by (used for) operating activities $ 12.3 $ 313.4 $ (161.2 ) $ 64.0 $ — $ 228.5 Investing activities Expenditures for property, plant and equipment — — (28.4 ) (12.3 ) — (40.7 ) Acquisitions, net of cash acquired — — (50.0 ) (123.6 ) — (173.6 ) Proceeds from dispositions of long-lived assets — — 5.3 0.2 — 5.5 Cash used for investing activities — — (73.1 ) (135.7 ) — (208.8 ) Financing activities Proceeds from borrowings of debt — 1,324.0 205.8 — — 1,529.8 Repayments of debt — (1,626.5 ) (189.7 ) — — (1,816.2 ) Payment of debt issuance costs — (11.0 ) — — — (11.0 ) Payments of preferred stock dividends (23.2 ) — — — — (23.2 ) Proceeds from exercise of stock options 7.2 — — — — 7.2 Taxes withheld and paid on employees' share-based payment awards (1.2 ) — — — — (1.2 ) Proceeds from financing lease obligation — — 5.8 — — 5.8 Cash (used for) provided by financing activities (17.2 ) (313.5 ) 21.9 — — (308.8 ) Effect of exchange rate changes on cash, cash equivalents and restricted cash — — — 16.6 — 16.6 Decrease in cash, cash equivalents and restricted cash (4.9 ) (0.1 ) (212.4 ) (55.1 ) — (272.5 ) Cash, cash equivalents and restricted cash at beginning of period 4.9 0.1 253.3 231.8 — 490.1 Cash, cash equivalents and restricted cash at end of period $ — $ — $ 40.9 $ 176.7 $ — $ 217.6 Condensed Consolidating Statements of Cash Flows For the Year Ended March 31, 2017 (in millions) Parent Issuer Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated Operating activities Net cash (used for) provided by operating activities $ (397.5 ) $ 308.8 $ 215.7 $ 68.1 $ — $ 195.1 Investing activities Expenditures for property, plant and equipment — — (43.3 ) (11.2 ) — (54.5 ) Acquisitions, net of cash — — (213.4 ) (0.3 ) — (213.7 ) Proceeds from dispositions of long-lived assets — — 4.2 — — 4.2 Cash used for investing activities — — (252.5 ) (11.5 ) — (264.0 ) Financing activities Proceeds from borrowings of debt — 1,606.4 — — — 1,606.4 Repayments of debt — (1,905.3 ) — — — (1,905.3 ) Payment of debt issuance costs — (11.8 ) — — — (11.8 ) Deferred acquisition payment — — — (5.7 ) — (5.7 ) Proceeds from issuance of preferred stock, net of direct offering costs 389.7 — — — — 389.7 Payments of preferred stock dividends (4.4 ) — — — — (4.4 ) Proceeds from exercise of stock options 11.0 — — — — 11.0 Cash provided by (used for) financing activities 396.3 (310.7 ) — (5.7 ) — 79.9 Effect of exchange rate changes on cash, cash equivalents and restricted cash — — — (5.5 ) — (5.5 ) (Decrease) increase in cash, cash equivalents and restricted cash (1.2 ) (1.9 ) (36.8 ) 45.4 — 5.5 Cash, cash equivalents and restricted cash at beginning of period 6.1 2.0 290.1 186.4 — 484.6 Cash, cash equivalents and restricted cash at end of period $ 4.9 $ 0.1 $ 253.3 $ 231.8 $ — $ 490.1

Subsequent Event

Subsequent Event	12 Months Ended
	Mar. 31, 2019
Subsequent Events [Abstract]
Subsequent Event	Subsequent Event On May 10, 2019, the Company acquired substantially all of the assets of East Creek Corporation (d/b/a StainlessDrains.com) for a total preliminary cash purchase price of $24.8 million , excluding transaction costs and net of cash acquired. The preliminary purchase price is subject to customary post-closing adjustments for variances between estimated asset and liability targets and actual acquisition date net assets acquired. The acquisition of the StainlessDrains.com business, which manufactures stainless steel drains, grates and accessories for industrial and commercial end markets, complements the Company's existing Water Management platform. The Company's financial position and results from operations will include StainlessDrains.com subsequent to May 10, 2019. As of the date of this filing, the Company has not completed the preliminary allocation of the purchase price to the assets acquired and liabilities assumed. This acquisition is not expected to have a material impact on the Company's consolidated financial statements.

Schedule II - Valuation and Qua

Schedule II - Valuation and Qualifying Accounts	12 Months Ended
	Mar. 31, 2019
SEC Schedule, 12-09, Valuation and Qualifying Accounts [Abstract]
Schedule II - Valuation and Qualifying Accounts	Schedule II – Valuation and Qualifying Accounts (in Millions) Additions Description Balance at Beginning of Year Charged to Costs and Expenses Acquired Obligations Charged to Other Accounts Deductions (1) Balance at End of Year Fiscal Year 2017: Valuation allowance for trade and notes receivable 4.0 (0.2 ) 2.0 — (0.4 ) 5.4 Valuation allowance for income taxes 24.1 0.9 0.2 — (3.4 ) 21.8 Fiscal Year 2018: Valuation allowance for trade and notes receivable 5.4 0.2 0.6 — (1.8 ) 4.4 Valuation allowance for income taxes 21.8 2.1 4.0 — (4.9 ) 23.0 Fiscal Year 2019: Valuation allowance for trade and notes receivable 4.4 (1.3 ) 0.5 — (0.5 ) 3.1 Valuation allowance for income taxes 23.0 13.3 — 2.0 (5.9 ) 32.4 ______________________ (1) Uncollectible amounts, dispositions charged against the accrual and utilization of net operating losses. All other schedules have been omitted because they are not applicable or because the information required is included in the notes to the consolidated financial statements.

Significant Accounting Polici_2

Significant Accounting Policies (Policies)	12 Months Ended
	Mar. 31, 2019
Accounting Policies [Abstract]
Use of Estimates	Use of Estimates The preparation of financial statements in accordance with GAAP requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes. Actual results could differ from those estimates.
Reclassifications	Reclassifications Certain prior year amounts have been reclassified to conform to the fiscal 2019 presentation.
Revenue Recognition	Revenue Recognition Effective April 1, 2018, the beginning of fiscal 2019, the Company adopted Accounting Standards Codification ("ASC") 606, Revenue from Contracts with Customers ("ASC 606"), under the modified retrospective method. The modified retrospective approach recognizes any changes as of the beginning of the year of initial application (i.e., as of April 1, 2018) through retained earnings, with no restatement of comparative periods. See Note 6, Revenue Recognition for the Company's policy for recognizing revenue under ASC 606 as well as the various other disclosures required by ASC 606. Prior to fiscal year 2019, net sales were recorded upon transfer of title and risk of product loss to the customer. Net sales relating to any particular shipment are based upon the amount invoiced for the delivered goods less estimated future rebate payments and sales returns which are based upon historical experience. Revisions to these estimates are recorded in the period in which the facts that give rise to the revision become known. Other than a standard product warranty, there are no other significant post-shipment obligations. A performance obligation is a promise in a contract to transfer a distinct good or service to the customer, and is the unit of account in ASC 606. A contract’s transaction price is allocated to each distinct performance obligation and revenue is recognized when obligations under the terms of a contract with the customer are satisfied. For the majority of the Company's product sales, revenue is recognized at a point-in-time when control of the product is transferred to the customer, which generally occurs when the product is shipped from the Company's manufacturing facility to the customer. When contracts include multiple products to be delivered to the customer, generally each product is separately priced and is determined to be distinct within the context of the contract. Other than a standard assurance-type warranty that the product will conform to agreed-upon specifications, there are generally no other significant post-shipment obligations. The expected costs associated with standard warranties continues to be recognized as an expense when the products are sold. When the contract provides the customer the right to return eligible products or when the customer is part of a sales rebate program, the Company reduces revenue at the point of sale using current facts and historical experience by using an estimate for expected product returns and rebates associated with the transaction. The Company adjusts these estimates at the earlier of when the most likely amount of consideration that is expected to be received changes or when the consideration becomes fixed. Accordingly, an increase or decrease to revenue is recognized at that time. Sales and other taxes collected concurrent with revenue-producing activities are excluded from revenue. The Company has elected to recognize the cost for freight and shipping when control of products has transferred to the customer as a component of cost of sales in the consolidated statements of operations. The Company classifies shipping and handling fees billed to customers as net sales and the corresponding costs are classified as cost of sales in the consolidated statements of operations.
Stock-Based Compensation	Stock-Based Compensation The Company accounts for stock based compensation in accordance with ASC 718, Accounting for Stock Compensation ("ASC 718"). ASC 718 requires compensation costs related to stock-based payment transactions to be recognized in the financial statements. Generally, compensation cost is measured based on the grant-date fair value of the equity instruments issued. Compensation cost is recognized over the requisite service period, generally as the awards vest.
Cash and Cash Equivalents	Cash and Cash Equivalents The Company considers all highly liquid investments with a maturity of three months or less to be cash and cash equivalents.
Receivables	Receivables Receivables are stated net of allowances for doubtful accounts of $3.1 million at March 31, 2019 and $4.4 million at March 31, 2018 . The Company evaluates the collectability of its receivables and establishes the allowance for doubtful accounts based on a combination of specific customer circumstances and historical write-off experience. Credit is extended to customers based upon an evaluation of their financial position. Generally, advance payment is not required. Allowances for doubtful accounts established are recorded within Selling, general and administrative expenses within the consolidated statements of operations.
Inventories	Inventories Inventories are comprised of material, direct labor and manufacturing overhead, and are stated at the lower of cost or market. Market is determined based on estimated net realizable values. The Company’s total inventories valued using the "last-in, first-out" (LIFO) method was 62% and 59% at March 31, 2019 and 2018 , respectively. All remaining inventories are valued using the "first-in, first-out" (FIFO) method. In some cases, the Company has determined a certain portion of inventories are excess or obsolete. In those cases, the Company writes down the value of those inventories to their net realizable value based upon assumptions about future demand and market conditions. If actual market conditions are less favorable than those projected by management, adjustments to established inventory reserves may be required.
Property, Plant and Equipment	Property, Plant and Equipment Property, plant and equipment are initially stated at cost. Depreciation is provided using the straight-line method over 10 to 30 years for buildings and improvements, 5 to 10 years for machinery and equipment and 3 to 5 years for computer hardware and software. Where appropriate, the depreciable lives of certain assets may be adjusted to reflect a change in the use of those assets, or depreciation may be accelerated in the case of an eventual asset disposal. The Company recognized accelerated depreciation of $3.9 million , $2.3 million , and $9.6 million during fiscal 2019 , 2018 , and 2017 , respectively. Accelerated depreciation is recorded within Cost of sales in the consolidated statements of operations. Maintenance and repair costs are expensed as incurred.
Goodwill and Intangible Assets	Goodwill and Intangible Assets Intangible assets consist of acquired trademarks and tradenames, customer relationships (including distribution network) and patents. The customer relationships, patents, and certain tradenames are being amortized using the straight-line method over their estimated useful lives of 7 to 20 years, 3 to 15 years, and 3 to 15 years, respectively. Where appropriate, the lives of certain intangible assets may be adjusted to reflect a change in the use of those assets, or amortization may be accelerated in the case of a known intangible asset discontinuation. Goodwill, trademarks and certain tradenames have indefinite lives and are not amortized. However, the goodwill and intangible assets are tested annually for impairment, and may be tested more frequently if any triggering events occur that would reduce the recoverability of the asset. The Company performs its impairment test by comparing the fair value of a reporting unit, utilizing both an income valuation model (discounted cash flow) and market approach (guideline public company comparables), with its carrying amount. If the carrying amount exceeds the fair value of the reporting unit, an impairment charge is recognized for the amount by which the carrying amount exceeds the reporting unit's fair value.
Impairment of Long-Lived Assets	Impairment of Long-Lived Assets The carrying value of long-lived assets, including amortizable intangible assets and tangible fixed assets, are evaluated for impairment whenever events or changes in circumstances indicate that the related carrying amounts may not be recoverable. Impairment of amortizable intangible assets and tangible fixed assets is generally determined by comparing projected undiscounted cash flows to be generated by the asset, or group of assets, to its carrying value. If impairment is identified, a loss is recorded equal to the excess of the asset's net book value over its fair value, and the cost basis is adjusted accordingly. The Company recognized impairment charges in the amount of $0.3 million , $0.8 million and $1.5 million in fiscal 2019 , 2018 , and 2017 , respectively. The impairment was determined utilizing Level 3 inputs within the Fair Value hierarchy, and the Company reviewed and considered input from outside specialists, when appropriate. Actual results could vary from these estimates.
Product Warranty	Product Warranty The Company offers warranties on the sales of certain of its products and records an accrual for estimated future claims. Such accruals are based upon historical experience and management’s estimate of the level of future claims.
Income Taxes	Income Taxes The Company accounts for income taxes in accordance with ASC 740, Accounting for Income Taxes ("ASC 740") . Deferred income taxes are provided for future tax effects attributable to temporary differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases, net operating losses, tax credits and other applicable carryforwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be actually paid or recovered. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in the results of continuing operations in the period that includes the date of enactment. The Company regularly reviews its deferred tax assets for recoverability and provides a valuation allowance against its deferred tax assets if, based upon consideration of all positive and negative evidence, the Company determines that it is more-likely-than-not that a portion or all of the deferred tax assets will ultimately not be realized in future tax periods. Such positive and negative evidence would include review of historical earnings and losses, anticipated future earnings, the time period over which the temporary differences and carryforwards are anticipated to reverse and implementation of feasible, prudent tax planning strategies. The Company is subject to income taxes in the United States and numerous foreign jurisdictions. Significant judgment is required in determining the Company’s worldwide provision for income taxes and recording the related deferred tax assets and liabilities. In the ordinary course of the Company’s business, there is inherent uncertainty in quantifying the ultimate tax outcome of all of the numerous transactions and required calculations relating to the Company’s tax positions. Accruals for unrecognized tax benefits are provided for in accordance with the requirements of ASC 740 . An unrecognized tax benefit represents the difference between the recognition of benefits related to uncertain tax positions for income tax reporting purposes and financial reporting purposes. The Company has established a reserve for interest and penalties, as applicable, for uncertain tax positions and it is recorded as a component of the overall income tax provision. The Company is subject to periodic income tax examinations by domestic and foreign income tax authorities. Although the outcome of income tax examinations is always uncertain, the Company believes that it has appropriate support for the positions taken on its income tax returns and has adequately provided for potential income tax assessments. Nonetheless, the amounts ultimately settled relating to issues raised by the taxing authorities may differ materially from the amounts accrued for each year.
Per Share Data	Per Share Data Basic net income (loss) per share from continuing and discontinued operations attributable to Rexnord common stockholders is computed by dividing net income from continuing operations and loss from discontinued operations attributable to Rexnord common stockholders, respectively, by the corresponding weighted average number of common shares outstanding for the period. Diluted net income (loss) per share from continuing and discontinued operations attributable to Rexnord common stockholders is computed based on the weighted average number of common shares outstanding, increased by the number of incremental shares that would have been outstanding if the potential dilutive shares were issued through the exercise of outstanding stock options to purchase common shares, except when the effect would be anti-dilutive.
Derivative Financial Instruments	Derivative Financial Instruments The Company is exposed to certain financial risks relating to fluctuations in foreign currency exchange rates and interest rates. The Company selectively uses foreign currency forward contracts and interest rate derivatives to manage its foreign currency and interest rate risks. All hedging transactions are authorized and executed pursuant to defined policies and procedures which prohibit the use of financial instruments for speculative purposes. For the derivative instruments designated and qualifying as effective hedging instruments under ASC 815, Accounting for Derivative Instruments and Hedging Activities ("ASC 815"), the changes in the fair value of the effective portion of the instrument are recognized in accumulated other comprehensive loss whereas any changes in the fair value of a derivative instrument that is not designated or does not qualify as an effective hedge are recorded in other non-operating expense. See Note 12 , Derivative Financial Instruments for further information regarding the classification and accounting of such instruments. Financial Instrument Counterparties The Company is exposed to credit losses in the event of non-performance by counterparties to its financial instruments. The Company anticipates, however, that counterparties will be able to fully satisfy their obligations under these instruments. The Company places cash and temporary investments and foreign currency and interest rate swap and cap contracts with various high-quality financial institutions. Although the Company does not obtain collateral or other security to support these financial instruments, it does periodically evaluate the credit-worthiness of each of its counterparties.
Foreign Currency Translation	Foreign Currency Translation Assets and liabilities of subsidiaries operating outside of the United States with a functional currency other than the U.S. dollar are translated into U.S. dollars using exchange rates at the end of the respective period. Revenues and expenses of such entities are translated at average exchange rates in effect during the respective period. Foreign currency translation adjustments are included as a component of accumulated other comprehensive loss. The Company periodically enters into foreign currency forward contracts to mitigate foreign currency volatility on certain intercompany and external cash flows expected to occur. See Note 12, Derivative Financial Instruments for additional information.
Advertising Costs	Advertising Costs Advertising costs are charged to selling, general and administrative expenses on the consolidated statements of operations as incurred
Research, Development and Engineering Costs	Research, Development and Engineering Costs Research, development and engineering costs are charged to selling, general and administrative expenses on the consolidated statements of operations as incurred
Concentrations of Credit Risk	Concentrations of Credit Risk Financial instruments that potentially subject the Company to significant concentrations of credit risk consist of cash and temporary investments, forward currency contracts and trade accounts receivable.
Recent Accounting Pronouncements	Recent Accounting Pronouncements In August 2018, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") 2018-14, Compensation - Retirement Benefits - Defined Benefit Plans - General (Subtopic 715-20): Disclosure Framework - Changes to the Disclosure Requirements for Defined Benefit Plans ("ASU 2018-14"), which updates the standard to remove disclosures that no longer are considered cost beneficial, clarifies the specific requirements of disclosures, and adds disclosure requirements identified as relevant. ASU 2018-14 is effective for the Company in fiscal 2021 on a retroactive basis. The Company is currently evaluating the impact this guidance will have on its consolidated financial statements upon adoption. In August 2018, the FASB issued ASU No. 2018-13, Fair Value Measurement (Topic 820): Disclosure Framework - Changes to the Disclosure Requirements for Fair Value Measurement ("ASU 2018-13"), which modifies the disclosure requirements in ASC 820, Fair Value Measurement ("ASC 820"). ASU 2018-13 is effective for the Company in fiscal 2020. Amendments related to changes in unrealized gains and losses, the range and weighted average of significant unobservable inputs used to develop Level 3 fair value measurements, and the narrative description of measurement uncertainty will be applied prospectively for only the most recent interim or annual period presented in the initial fiscal year of adoption. All other amendments will be applied retrospectively to all periods presented upon the effective date. The Company is currently evaluating the impact this guidance will have on its consolidated financial statements upon adoption. In February 2018, the FASB issued ASU 2018-02, Income Statement - Reporting Comprehensive Income (Topic 220): Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income ("ASU 2018-02"), which gives entities the option to reclassify from accumulated other comprehensive income to retained earnings for stranded tax effects resulting from the Tax Cuts and Jobs Act. Consequently, the amendments eliminate the stranded tax effects resulting from the Tax Cuts and Jobs Act. ASU 2018-02 if effective for the Company's fiscal 2020 and interim periods included therein, and is to be applied either in the period of adoption or on a retrospective basis to each period affected. The Company is currently evaluating the impact of this guidance and has not determined whether it will elect to reclassify stranded amounts; however, the adoption of ASU 2018-02 is not expected to have a material effect on its consolidated financial statements. In August 2017, the FASB issued ASU 2017-12, Derivatives and Hedging - Targeted Improvements to Accounting for Hedging Activities ("ASU 2017-12"), which expands and refines hedge accounting for both non-financial and financial risk components and aligns the recognition and presentation of the effects of the hedging instrument and the hedged item in the financial statements. ASU 2017-12 is effective for the beginning of the Company's fiscal 2020, with early adoption permitted, and must be applied prospectively. The Company is currently evaluating the impact this guidance will have on its consolidated financial statements upon adoption. In March 2017, the FASB issued ASU No. 2017-07, Compensation - Retirement Benefits (Topic 715): Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost , which changes how employers that sponsor defined benefit pension or other postretirement benefit plans present the net periodic benefit cost in the income statement. The new guidance requires the service cost component of net periodic benefit cost to be presented in the same income statement line item(s) as other employee compensation costs arising from services rendered during the period with only the service cost component eligible for capitalization in assets. Other components of the net periodic benefit cost are to be stated separately from the line item(s) that includes the service cost and outside of operating income. The Company adopted ASU 2017-07 on April 1, 2018 on a retrospective basis, which resulted in the reclassification of certain amounts from "Cost of sales" and "Selling, general and administrative expenses" to "Other expense (income), net" in the consolidated statements of operations. As a result, prior period amounts impacted have been revised accordingly. The adoption of ASU 2017-07 resulted in the reclassification of $2.5 million and $2.2 million of net periodic benefit credits previously recorded within "Costs of sales" and $0.7 million and zero of net periodic benefit credits previously recorded within "Selling, general and administrative expenses," to "Other income, net" on the consolidated statements of operations for the years ended March 31, 2018 and 2017, respectively. The adoption also resulted in a reclassification of $3.3 million and $2.6 million of actuarial gains on pension and postretirement obligations to "Other income, net" which was previously recorded within "Actuarial (gain) loss on pension and postretirement benefit obligations," on the consolidated statements of operations for the years ended March 31, 2018 and 2017, respectively. In February 2015, the FASB issued ASU 2016-02, Leases (Topic 842) ("ASU 2016-02''), which requires lessees to recognize lease assets and lease liabilities for all leases on the balance sheets. ASU 2016-02 is effective beginning for the Company's fiscal 2020 and interim periods included within. In July 2018, the FASB also issued ASU 2018-11, Leases (Topic 842): Targeted Improvements , which provides a transition method that allows the initial application of the lease standard at the adoption date using a cumulative-effect adjustment to the opening balance of retained earnings in the period of adoption. Under this transition method, comparative periods would continue to be reported in accordance with historical ASC 840 lease accounting guidance. The Company plans to adopt this standard using this transition method and will not restate comparative periods. The Company additionally plans to elect the package of practical expedients that allows the Company's determination of whether a lease exists, whether initial direct costs exist, and the determination of lease classification under historical ASC 840 lease guidance to be carried forward in transition to ASC 842, as well as the practical expedient to combine lease and non-lease components for all asset classes. The Company has made a policy election not to capitalize leases with an initial term of 12 months or less. While the assessment of the impact this new standard will have on the consolidated financial statements is ongoing, the Company expects the adoption of the new standard to result in the recording of additional lease assets and liabilities of approximately $65 million to $75 million as of April 1, 2019, and does not expect the cumulative-effect adjustment to the opening balance to be material due to the package of practical expedients elected. The Company does not anticipate that the standard will have a material impact on its consolidated net earnings or statement of cash flows. In May 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers ("ASU 2014-09"), to establish a single comprehensive model for entities to use in accounting for revenue arising from contracts with customers. ASU 2014-09 superseded most of the existing revenue recognition guidance. The Company adopted ASU 2014-09 effective April 1, 2018, using the modified retrospective method. The modified retrospective transition method recognizes any changes as of the beginning of the year of initial application (i.e., as of April 1, 2018) through retained earnings, with no restatement of comparative periods. The adoption of ASU 2014-09 did not have a significant impact on the Company’s consolidated results of operations, financial position and cash flows.

Significant Accounting Polici_3

Significant Accounting Policies (Tables)	12 Months Ended
	Mar. 31, 2019
Accounting Policies [Abstract]
Schedule of Product Warranty Liability	The following table presents changes in the Company’s product warranty liability during each of the periods presented (in millions): Year Ended March 31, 2019 Year Ended March 31, 2018 Year Ended March 31, 2017 Balance at beginning of period $ 7.7 $ 6.2 $ 5.5 Acquired obligations — 1.4 0.4 Charged to operations 1.9 4.1 3.2 Claims settled (2.4 ) (4.0 ) (2.9 ) Balance at end of period $ 7.2 $ 7.7 $ 6.2
Schedule of Earnings Per Share, Basic and Diluted	The following table presents the basis for income per share computations (in millions, except share amounts, which are in thousands): Years Ended March 31, 2019 March 31, 2018 March 31, 2017 Basic net (loss) income per share attributable to Rexnord common stockholders Numerator: Net income from continuing operations $ 189.0 $ 206.6 $ 91.7 Less: Non-controlling interest income — 0.1 — Less: Dividends on preferred stock 23.2 23.2 7.3 Net income from continuing operations attributable to Rexnord common stockholders $ 165.8 $ 183.3 $ 84.4 Loss from discontinued operations, net of tax $ (154.7 ) $ (130.6 ) $ (17.6 ) Net income attributable to Rexnord common stockholders $ 11.1 $ 52.7 $ 66.8 Denominator: Weighted-average common shares outstanding, basic 104,640 103,889 102,753 Diluted net (loss) income per share attributable to Rexnord common stockholders Numerator: Net income from continuing operations $ 189.0 $ 206.6 $ 91.7 Less: Non-controlling interest income — 0.1 — Less: Dividends on preferred stock (1) — — 7.3 Net income from continuing operations attributable to Rexnord common stockholders $ 189.0 $ 206.5 $ 84.4 Loss from discontinued operations, net of tax $ (154.7 ) $ (130.6 ) $ (17.6 ) Net income attributable to Rexnord common stockholders 11.1 52.7 66.8 Plus: Dividends on preferred stock (1) 23.2 23.2 — Net income attributable to Rexnord common stockholders $ 34.3 $ 75.9 $ 66.8 Denominator: Weighted-average common shares outstanding, basic 104,640 103,889 102,753 Effect of dilutive equity awards 2,710 2,110 2,031 Preferred stock under the "if-converted" method 15,979 15,985 — Weighted-average common shares outstanding, diluted 123,329 121,984 104,784 ____________________ (1) The "if-converted" method was dilutive for the fiscal years ended March 31, 2019 and 2018.
Schedule of Accumulated Other Comprehensive Loss	The changes in accumulated other comprehensive loss, net of tax, for the fiscal years ending March 31, 2019 , 2018 and 2017 are as follows (in millions): Interest Rate Derivatives Foreign Currency Translation Pension and Postretirement Plans Total Balance at March 31, 2016 $ (16.9 ) $ (86.5 ) $ (35.6 ) $ (139.0 ) Other comprehensive income (loss) before reclassifications 1.1 (12.8 ) 9.2 (2.5 ) Amounts reclassified from accumulated other comprehensive income (loss) 6.3 — (1.8 ) 4.5 Net current period other comprehensive income (loss) 7.4 (12.8 ) 7.4 2.0 Balance at March 31, 2017 $ (9.5 ) $ (99.3 ) $ (28.2 ) $ (137.0 ) Other comprehensive income before reclassifications — 57.1 1.4 58.5 Amounts reclassified from accumulated other comprehensive income (loss) 5.8 — (1.4 ) 4.4 Net current period other comprehensive income 5.8 57.1 — 62.9 Balance at March 31, 2018 $ (3.7 ) $ (42.2 ) $ (28.2 ) $ (74.1 ) Other comprehensive income before reclassifications — (39.4 ) (8.5 ) (47.9 ) Amounts reclassified from accumulated other comprehensive income (loss) 4.5 21.5 (0.6 ) 25.4 Net current period other comprehensive income (loss) 4.5 (17.9 ) (9.1 ) (22.5 ) Balance at March 31, 2019 $ 0.8 $ (60.1 ) $ (37.3 ) $ (96.6 )
Reclassification out of Accumulated Other Comprehensive Loss	The following table summarizes the amounts reclassified from accumulated other comprehensive loss to net income during the fiscal years ending March 31, 2019 , 2018 and 2017 (in millions): Pension and postretirement plans Year Ending March 31, 2019 Year Ending March 31, 2018 Year Ending March 31, 2017 Income Statement Line Item Amortization of prior service credit $ (1.5 ) $ (1.9 ) $ (1.9 ) Other expense (income), net Lump Sum Settlement 0.6 — — Other expense (income), net Curtailment — (0.3 ) (1.0 ) Other expense (income), net Provision for income taxes 0.3 0.8 1.1 Total, net of income taxes $ (0.6 ) $ (1.4 ) $ (1.8 ) Interest rate derivatives Net realized losses on interest rate derivatives $ 5.7 $ 9.7 $ 10.2 Interest expense, net Benefit for income taxes (1.2 ) (3.9 ) (3.9 ) Total, net of income taxes $ 4.5 $ 5.8 $ 6.3 Foreign Currency Translation Reclassification on sale of business $ 19.7 $ — $ — Loss from discontinued operations, net of tax Reclassification on acquisition of equity method investment 1.8 — — Other expense (income), net Total $ 21.5 $ — $ —
Research, Development and Engineering Costs	Research, development and engineering costs are charged to selling, general and administrative expenses on the consolidated statements of operations as incurred and for the years ended March 31, 2019 , 2018 and 2017 amounted to the following (in millions): Year Ended March 31, 2019 Year Ended March 31, 2018 Year Ended March 31, 2017 Research and development costs $ 16.3 $ 13.3 $ 10.4 Engineering costs 25.4 22.5 24.6 Total $ 41.7 $ 35.8 $ 35.0

Acquisitions (Tables)

Acquisitions (Tables)	12 Months Ended
	Mar. 31, 2019
Business Combinations [Abstract]
Schedule of Business Acquisitions, by Acquisition	The preliminary purchase price for this business combination is estimated as follows (in millions): Fair value of consideration transferred: Cash paid, net of cash acquired $ 21.4 Other items to be allocated to identifiable assets acquired and liabilities assumed Book value of investment in Centa China at the acquisition date 21.8 Gain recognized from step acquisition 0.2 Fair value of remaining non-controlling interest 2.3 Total $ 45.7

Discontinued Operations (Tables

Discontinued Operations (Tables)	12 Months Ended
	Mar. 31, 2019
Discontinued Operations and Disposal Groups [Abstract]
Disposal Groups, Including Discontinued Operations	The major components of the Loss from discontinued operations, net of tax associated with the VAG business presented in the consolidated statements of operations during the fiscal years ended March 31, 2019, 2018 and 2017 are included in the table below (in millions): Fiscal Years Ended March 31, 2019 (1) March 31, 2018 March 31, 2017 Net sales $ 124.3 $ 214.4 $ 205.7 Cost of sales 94.9 166.5 166.3 Selling, general and administrative expenses 35.1 56.5 57.2 Restructuring and other similar charges — 4.7 5.5 Amortization of intangible assets 0.3 1.4 1.1 Non-cash asset impairments (2) 126.0 111.2 — Loss on sale of discontinued operations 22.5 — — Other non-operating expenses, net 3.2 4.7 0.9 Loss from discontinued operations before income tax (157.7 ) (130.6 ) (25.3 ) Income tax benefit 3.0 — 7.7 Loss from discontinued operations, net of tax $ (154.7 ) $ (130.6 ) $ (17.6 ) ____________________ (1) Results from operations in fiscal 2019 reflect the period through November 26, 2018, the date on which the sale of the VAG business was completed. (2) During the fourth quarter of fiscal 2018, the Company performed an interim assessment of the VAG reporting unit's goodwill for impairment following the Company’s decision to explore strategic alternatives. The fair value of the VAG reporting unit was estimated using both an income valuation model (discounted cash flow) and a market approach based on the estimated selling price in the then-current market environment. As a result of the assessment, the Company recognized a non-cash goodwill impairment charge in fiscal 2018 of $111.2 million . Upon the Company’s Board of Directors approving management’s plan to sell the VAG business in the first quarter of fiscal 2019, the net assets of the VAG business were reclassified as held for sale in accordance with the authoritative guidance. Accordingly, during the period leading up to the final disposition of VAG, the Company continuously assessed the carrying value of the net assets of the VAG business compared to the value expected to be obtained in the sale process. As a result of this assessment, the Company recorded additional non-cash asset impairment charges in fiscal 2019 of $126.0 million . The carrying amounts of major classes of assets and liabilities associated with the VAG business included as part of discontinued operations presented in the consolidated balance sheet as of March 31, 2018 are as follows (in millions): March 31, 2018 Assets Cash and cash equivalents $ 24.4 Receivables, net 58.5 Inventories 40.7 Other current assets 6.7 Total current assets held for sale $ 130.3 Property, plant and equipment, net $ 59.9 Intangible assets, net 46.6 Other assets 2.0 Total non-current assets held for sale $ 108.5 Liabilities Trade payables $ 36.1 Compensation and benefits 6.1 Other current liabilities 22.9 Total current liabilities held for sale $ 65.1 Deferred income taxes $ 7.3 Other liabilities 6.5 Total non-current liabilities held for sale $ 13.8 The consolidated statements of cash flows for the current and prior periods presented have not been adjusted to separately disclose cash flows related to discontinued operations. However, the significant investing cash flows and other significant non-cash operating items associated with the discontinued operations were as follows (in millions): Fiscal Years Ended March 31, 2019 March 31, 2018 March 31, 2017 Depreciation $ 4.1 $ 8.6 $ 8.2 Amortization of intangible assets 0.3 1.4 1.1 Non-cash discontinued operations asset impairments 126.0 111.2 — Non-cash loss on sale of discontinued operations 22.5 — — Stock-based compensation — 0.5 0.3 Capital expenditures 2.4 2.7 3.7 Net proceeds from divestiture of discontinued operations 9.0 — —

Restructuring and Other Simil_2

Restructuring and Other Similar Charges (Tables)	12 Months Ended
	Mar. 31, 2019
Restructuring and Related Activities [Abstract]
Schedule of Restructuring and Related Costs	The following table summarizes the Company's restructuring and other similar costs incurred during the years ended March 31, 2019 , 2018 and 2017 by classification of operating segment (in millions): Year Ended March 31, 2019 Process & Motion Control Water Management Corporate Consolidated Employee termination benefits $ 5.6 $ 0.9 $ 0.6 $ 7.1 Asset impairment charges (1) 0.3 — — 0.3 Contract termination and other associated costs 2.0 0.3 2.4 4.7 Total restructuring and other similar costs $ 7.9 $ 1.2 $ 3.0 $ 12.1 Year Ended March 31, 2018 Process & Motion Control Water Management Corporate Consolidated Employee termination benefits $ 4.6 $ 0.6 $ — $ 5.2 Asset impairment charges (1) 0.8 — — 0.8 Contract termination and other associated costs 7.9 0.2 — 8.1 Total restructuring and other similar costs $ 13.3 $ 0.8 $ — $ 14.1 Year Ended March 31, 2017 Process & Motion Control Water Management Corporate Consolidated Employee termination benefits $ 16.5 $ 1.5 $ — $ 18.0 Asset impairment charges (1) 1.5 $ — $ — 1.5 Contract termination and other associated costs 5.4 1.2 — 6.6 Total restructuring and other similar costs $ 23.4 $ 2.7 $ — $ 26.1 Restructuring Costs To-date (Period from April 1, 2011 to March 31, 2019) Process & Motion Control Water Management Corporate Consolidated Employee termination benefits $ 54.5 $ 8.1 $ 2.6 $ 65.2 Asset impairment charges 3.6 — — 3.6 Contract termination and other associated costs 19.7 4.4 2.4 26.5 Total restructuring and other similar costs $ 77.8 $ 12.5 $ 5.0 $ 95.3 ____________________ (1) In connection with the ongoing supply chain optimization and footprint repositioning initiatives, the Company has taken several actions to consolidate existing manufacturing facilities and rationalize its product offerings. These actions require the Company to assess whether the carrying amount of impacted long-lived assets will be recoverable as well as whether the remaining useful lives require adjustment. The impairment charges associated with these assets recognized during fiscal 2019 , 2018 and 2017 were determined utilizing independent appraisals of the assets and were classified as Level 3 inputs within the Fair Value hierarchy. Refer to Note 13 , Fair Value Measurements for additional information.
Summary of Activity in Restructuring Accrual	The following table summarizes the activity in the Company's accrual for restructuring and other similar costs for the fiscal years ended March 31, 2019 and 2018 (in millions): Employee termination benefits Asset impairment charges Contract termination and other associated costs Total Accrued Restructuring Costs, March 31, 2017 (2) $ 10.8 $ — $ — $ 10.8 Charges 5.2 0.8 8.1 14.1 Cash payments (13.7 ) — (7.8 ) (21.5 ) Non-cash charges — (0.8 ) — (0.8 ) Accrued Restructuring Costs, March 31, 2018 (2) $ 2.3 $ — $ 0.3 $ 2.6 Charges 7.1 0.3 4.7 12.1 Cash payments (7.0 ) — (3.1 ) (10.1 ) Non-cash charges — (0.3 ) — (0.3 ) Accrued Restructuring Costs, March 31, 2019 (2) $ 2.4 $ — $ 1.9 $ 4.3 ____________________ (2) The restructuring accrual is included in Other current liabilities on the consolidated balance sheets.

Revenue Recognition (Tables)

Revenue Recognition (Tables)	12 Months Ended
	Mar. 31, 2019
Revenue from Contract with Customer [Abstract]
Disaggregation of Revenue	The Company has two business segments, Process & Motion Control and Water Management. The following table presents our revenue disaggregated by customer type and geography (in millions): Year Ended March 31, 2019 March 31, 2018 March 31, 2017 Original equipment manufacturers/end users $ 768.5 $ 690.5 $ 594.6 Maintenance, repair, and operations 612.1 550.7 540.1 Total Process & Motion Control $ 1,380.6 $ 1,241.2 $ 1,134.7 Water safety, quality, flow control and conservation $ 624.4 $ 566.9 $ 538.9 Water infrastructure 45.9 43.5 38.9 Total Water Management $ 670.3 $ 610.4 $ 577.8 Year Ended March 31, 2019 Year Ended March 31, 2018 Year Ended March 31, 2017 Process & Motion Control Water Management Process & Motion Control Water Management Process & Motion Control Water Management United States and Canada $ 898.7 $ 654.5 $ 848.3 $ 598.4 $ 795.0 $ 568.2 Europe 327.5 — 255.5 — 218.9 — Rest of world 154.4 15.8 137.4 12.0 120.8 9.6 Total $ 1,380.6 $ 670.3 $ 1,241.2 $ 610.4 $ 1,134.7 $ 577.8
Changes in Contract Assets and Liabilities	The following table presents changes in the Company’s contract assets and liabilities during the year ended March 31, 2019 (in millions): Balance Sheet Classification March 31, 2018 Additions Deductions March 31, 2019 Contract Assets Receivables, net $ 0.7 $ 3.7 $ (1.8 ) $ 2.6 Contract Liabilities (1) Other current liabilities $ 3.2 $ 15.3 $ (13.4 ) $ 5.1 ____________________ (1) Contract liabilities are reduced when revenue is recognized.

Inventories (Tables)

Inventories (Tables)	12 Months Ended
	Mar. 31, 2019
Inventory Disclosure [Abstract]
Major Classes of Inventories	The major classes of inventories are summarized as follows (in millions): March 31, 2019 2018 Finished goods $ 147.3 $ 134.2 Work in progress 39.8 35.2 Purchased components 76.7 76.0 Raw materials 53.9 53.2 Inventories at First-in, First-Out ("FIFO") cost 317.7 298.6 Adjustment to state inventories at Last-in, First-Out ("LIFO") cost (1.2 ) 5.5 $ 316.5 $ 304.1

Property, Plant and Equipment (

Property, Plant and Equipment (Tables)	12 Months Ended
	Mar. 31, 2019
Property, Plant and Equipment [Abstract]
Property, Plant and Equipment	Property, plant and equipment, net is summarized as follows (in millions): March 31, 2019 2018 Land $ 25.7 $ 30.6 Buildings and improvements 227.5 229.9 Machinery and equipment 350.9 370.5 Hardware and software 64.4 62.6 Construction in-progress 27.9 35.6 696.4 729.2 Less accumulated depreciation (313.4 ) (332.7 ) $ 383.0 $ 396.5

Goodwill and Intangible Assets

Goodwill and Intangible Assets (Tables)	12 Months Ended
	Mar. 31, 2019
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Intangible Assets and Goodwill	The changes in the net carrying value of goodwill for the years ended March 31, 2019 and 2018 by operating segment, consisted of the following (in millions): Goodwill Process & Motion Control Water Management Consolidated Net carrying amount as of March 31, 2017 $ 1,068.8 $ 147.7 $ 1,216.5 Acquisitions (1) 29.5 25.7 55.2 Currency translation adjustments 4.2 0.2 4.4 Net carrying amount as of March 31, 2018 $ 1,102.5 $ 173.6 $ 1,276.1 Acquisitions (1) 20.1 1.2 21.3 Purchase accounting adjustments 8.1 0.2 8.3 Currency translation adjustments (5.5 ) (0.5 ) (6.0 ) Net carrying amount as of March 31, 2019 $ 1,125.2 $ 174.5 $ 1,299.7 ______________________ (1) Refer to Note 3 , Acquisitions for additional information regarding acquisitions.
Schedule of Gross Carrying Amount and Accumulated Amortization for Finite-Lived Intangible Assets	The gross carrying amount and accumulated amortization for each major class of identifiable intangible assets as of March 31, 2019 and March 31, 2018 consisted of the following (in millions): March 31, 2019 Weighted Average Useful Life Gross Carrying Amount Accumulated Amortization Net Carrying Amount Intangible assets subject to amortization: Patents 10 years $ 50.9 $ (39.8 ) $ 11.1 Customer relationships (including distribution network) 13 years 713.5 (523.1 ) 190.4 Tradenames 13 years 40.4 (11.3 ) 29.1 Intangible assets not subject to amortization - trademarks and tradenames 280.9 — 280.9 Total intangible assets, net 13 years $ 1,085.7 $ (574.2 ) $ 511.5 March 31, 2018 Weighted Average Useful Life Gross Carrying Amount Accumulated Amortization Net Carrying Amount Intangible assets subject to amortization: Patents 10 years $ 51.3 $ (38.4 ) $ 12.9 Customer relationships (including distribution network) 13 years 700.3 (494.8 ) 205.5 Tradenames 13 years 40.1 (8.5 ) 31.6 Intangible assets not subject to amortization - trademarks and tradenames 280.9 — 280.9 Total intangible assets, net 13 years $ 1,072.6 $ (541.7 ) $ 530.9
Schedule of Gross Carrying Amount and Accumulated Amortization for Infinite-Lived Intangible Assets	The gross carrying amount and accumulated amortization for each major class of identifiable intangible assets as of March 31, 2019 and March 31, 2018 consisted of the following (in millions): March 31, 2019 Weighted Average Useful Life Gross Carrying Amount Accumulated Amortization Net Carrying Amount Intangible assets subject to amortization: Patents 10 years $ 50.9 $ (39.8 ) $ 11.1 Customer relationships (including distribution network) 13 years 713.5 (523.1 ) 190.4 Tradenames 13 years 40.4 (11.3 ) 29.1 Intangible assets not subject to amortization - trademarks and tradenames 280.9 — 280.9 Total intangible assets, net 13 years $ 1,085.7 $ (574.2 ) $ 511.5 March 31, 2018 Weighted Average Useful Life Gross Carrying Amount Accumulated Amortization Net Carrying Amount Intangible assets subject to amortization: Patents 10 years $ 51.3 $ (38.4 ) $ 12.9 Customer relationships (including distribution network) 13 years 700.3 (494.8 ) 205.5 Tradenames 13 years 40.1 (8.5 ) 31.6 Intangible assets not subject to amortization - trademarks and tradenames 280.9 — 280.9 Total intangible assets, net 13 years $ 1,072.6 $ (541.7 ) $ 530.9

Other Current Liabilities (Tabl

Other Current Liabilities (Tables)	12 Months Ended
	Mar. 31, 2019
Other Liabilities Disclosure [Abstract]
Schedule of Other Current Liabilities	Other current liabilities are summarized as follows (in millions): March 31, 2019 March 31, 2018 Contract liabilities $ 5.1 $ 3.2 Sales rebates 35.3 26.8 Commissions 6.8 6.1 Restructuring and other similar charges (1) 4.3 2.6 Product warranty (2) 7.2 7.7 Risk management (3) 10.5 10.1 Legal and environmental 2.6 3.4 Taxes, other than income taxes 7.8 8.0 Income taxes payable 20.3 19.4 Interest payable 7.7 8.7 Other 29.5 31.4 $ 137.1 $ 127.4 ___________________ (1) See more information related to the restructuring obligations balance within Note 5 , Restructuring and Other Similar Charges. (2) See more information related to the product warranty obligations balance within Note 2 , Significant Accounting Policies. (3) Includes projected liabilities related to losses arising from automobile, general and product liability claims.

Long-Term Debt (Tables)

Long-Term Debt (Tables)	12 Months Ended
	Mar. 31, 2019
Debt Disclosure [Abstract]
Summary of Long-Term Debt	Long-term debt is summarized as follows (in millions): March 31, 2019 March 31, 2018 Term loans (1) $ 718.4 $ 791.5 4.875% Senior Notes due 2025 (2) 495.0 494.2 Securitization facility borrowings (3) — 18.3 Other subsidiary debt (4) 24.6 52.0 Total 1,238.0 1,356.0 Less current maturities 1.2 3.9 Long-term debt $ 1,236.8 $ 1,352.1 ____________________ (1) Includes unamortized debt issuance costs of $6.6 million and $8.5 million at March 31, 2019 and March 31, 2018 , respectively. (2) Includes unamortized debt issuance costs of $5.0 million and $5.8 million at March 31, 2019 and March 31, 2018 , respectively. (3) Includes unamortized debt issuance costs of $0.5 million at March 31, 2018. (4) Includes unamortized debt issuance costs of $0.5 million at March 31, 2018 .
Schedule of Maturities of Long-Term Debt	Future maturities of debt as of March 31, 2019 , excluding the unamortized debt issuance costs of $11.6 million , were as follows (in millions): Years ending March 31: 2020 $ 1.2 2021 4.8 2022 1.0 2023 1.0 2024 1.0 Thereafter 1,240.6 $ 1,249.6

Derivative Financial Instrume_2

Derivative Financial Instruments (Tables)	12 Months Ended
	Mar. 31, 2019
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Derivatives Designated as Hedging Instruments	The following tables indicate the location and the fair value of the Company's non-qualifying, non-designated derivative instruments within the consolidated balance sheets (in millions): March 31, 2019 March 31, 2018 Balance Sheet Classification Asset Derivatives Foreign currency forward contracts $ — $ 0.5 Other current assets Liability Derivatives Interest rate derivatives $ — $ 0.8 Other current liabilities
Schedules of Gains and Losses Associated with Derivative Instruments	The following table segregates the location and the amount of gains or losses associated with the changes in the fair value of the Company's derivative instruments, net of tax, within the consolidated balance sheets (for instruments no longer qualifying for hedge accounting under ASC 815) and recognized within the consolidated statements of operations (for non-qualifying, non-designated derivative instruments): Amount of (gain) loss recognized in accumulated other comprehensive loss Derivative instruments no longer qualifying for hedge accounting under ASC 815 (in millions) March 31, 2019 March 31, 2018 Interest rate derivatives $ (0.8 ) $ 3.7
Schedule of Other Derivatives Not Designated as Hedging Instruments	Amount recognized as (income) expense Non-qualifying, non-designated derivative instruments (in millions) Consolidated Statements of Operations Classification Fiscal Years Ended March 31, 2019 March 31, 2018 March 31, 2017 Foreign currency forward contracts Other expense (income), net $ 0.2 $ — $ (0.5 ) Interest rate derivatives Interest expense, net $ (0.8 ) $ (5.0 ) $ —

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	12 Months Ended
	Mar. 31, 2019
Fair Value Disclosures [Abstract]
Liabilities Recognized at Fair Value on a Recurring Basis	The following table provides a summary of the Company's assets and liabilities that were recognized at fair value on a recurring basis as of March 31, 2018 (in millions): Fair Value as of March 31, 2018 Level 1 Level 2 Level 3 Total Assets: Foreign currency forward contracts $ — $ 0.5 $ — $ 0.5 Total assets at fair value — 0.5 — 0.5 Liabilities: Interest rate swaps — 0.8 — 0.8 Total liabilities at fair value $ — $ 0.8 $ — $ 0.8

Leases (Tables)

Leases (Tables)	12 Months Ended
	Mar. 31, 2019
Leases [Abstract]
Future Minimum Rental Payments for Operating Leases	Future minimum rental payments for leases with initial terms in excess of one year as of March 31, 2019 are as follows (in millions): Years ending March 31: 2020 $ 14.6 2021 11.8 2022 9.6 2023 8.7 2024 6.4 Thereafter 56.3 $ 107.4

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	12 Months Ended
	Mar. 31, 2019
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Schedule of Fair Value of Options Granted	The fair value of each option granted under the Plan was estimated on the date of grant using the Black-Scholes valuation model that uses the following weighted-average assumptions: Years Ended March 31, 2019 March 31, 2018 March 31, 2017 Expected option term (in years) 6.5 6.5 6.5 Expected volatility factor 30 % 31 % 29 % Weighted-average risk free interest rate 2.85 % 1.99 % 1.58 % Expected dividend rate 0.0 % 0.0 % 0.0 %
Schedule of Stock Options Activity	A summary of stock option activity during fiscal 2019 , 2018 and 2017 is as follows: Years Ended March 31, 2019 March 31, 2018 March 31, 2017 Shares Weighted Avg. Exercise Price Shares Weighted Avg. Exercise Price Shares Weighted Avg. Exercise Price Number of shares under options: Outstanding at beginning of period 8,117,947 $ 19.50 7,770,670 $ 18.73 7,854,685 $ 15.10 Granted 564,666 28.88 1,176,205 23.17 2,602,014 19.72 Exercised (1) (642,953 ) 14.21 (543,443 ) 14.89 (2,116,571 ) 5.18 Canceled/Forfeited (195,749 ) 23.95 (285,485 ) 22.55 (569,458 ) 23.34 Outstanding at end of period (2) 7,843,911 $ 20.49 8,117,947 $ 19.50 7,770,670 $ 18.73 Exercisable at end of period (3) 5,833,565 $ 19.42 4,810,737 $ 17.93 3,221,622 $ 15.25 ______________________ (1) The total intrinsic value of options exercised during fiscal 2019 , 2018 and 2017 was $9.9 million , $6.4 million and $29.1 million , respectively. (2) The weighted average remaining contractual life of options outstanding was 5.5 years at March 31, 2019 , 6.1 years at March 31, 2018 and 6.6 years at March 31, 2017 . The aggregate intrinsic value of options outstanding at March 31, 2019 was $41.2 million . (3) The weighted average remaining contractual life of options exercisable was 4.6 years at March 31, 2019 , 4.7 years at March 31, 2018 and 4.6 years at March 31, 2017 . The aggregate intrinsic value of options exercisable at March 31, 2019 was $36.0 million . Shares Weighted Avg. Exercise Price Nonvested options at beginning of period 3,307,210 $ 21.77 Granted 564,666 28.88 Vested (1,706,123 ) 21.78 Canceled/Forfeited (155,407 ) 23.71 Nonvested options at end of period 2,010,346 $ 23.61
Schedule of Restricted Stock Units Activity	A summary of RSU activity during fiscal 2019 , 2018 , and 2017 is as follows: Years Ended March 31, 2019 March 31, 2018 March 31, 2017 Units Weighted Avg. Grant Date Fair Value Units Weighted Avg. Grant Date Fair Value Units Weighted Avg. Grant Date Fair Value Nonvested RSUs at beginning of period 368,182 $ 21.55 322,142 $ 20.59 125,307 $ 24.67 Granted 300,119 28.87 250,013 23.19 279,445 19.53 Vested (149,531 ) 24.30 (150,784 ) 21.92 (48,207 ) 24.01 Canceled/Forfeited (101,423 ) 21.10 (53,189 ) 22.41 (34,403 ) 22.00 Nonvested RSUs at end of period 417,347 $ 25.94 368,182 $ 21.55 322,142 $ 20.59
Schedule of Nonvested Performance-based Units Activity	A summary of PSU activity during fiscal 2019 , 2018 , and 2017 is as follows: Years Ended March 31, 2019 March 31, 2018 March 31, 2017 Units Weighted Avg. Grant Date Fair Value Units Weighted Avg. Grant Date Fair Value Units Weighted Avg. Grant Date Fair Value Nonvested PSUs at beginning of period 453,001 $ 25.53 259,930 $ 24.74 49,136 $ 28.57 Granted 183,069 28.91 193,071 26.58 219,266 23.95 Vested (217,319 ) 23.89 — — — — Canceled/Forfeited (67,647 ) 28.37 — — (8,472 ) 25.90 Nonvested PSUs at end of period 351,104 $ 27.76 453,001 $ 25.53 259,930 $ 24.74
Schedule of Weighted-Average Assumptions Used, Performance Stock Units	Years Ended March 31, 2018 March 31, 2017 Expected volatility factor 31 % 30 % Weighted-average risk-free interest rate 1.45 % 0.86 % Expected dividend rate 0.0 % 0.0 % PSU fair value per share $31.25 $27.67 The following table presents significant assumptions used to determine benefit obligations and net periodic benefit cost (income) in weighted-average percentages: Pension Benefits Other Postretirement Benefits March 31, 2019 March 31, 2018 March 31, 2017 March 31, 2019 March 31, 2018 March 31, 2017 Benefit Obligations: Discount rate 3.7 % 3.7 % 3.9 % 3.9 % 4.0 % 4.0 % Rate of compensation increase 2.9 % 2.9 % 3.0 % n/a n/a n/a Net Periodic Benefit Cost: Discount rate 3.7 % 3.9 % 3.8 % 4.0 % 4.0 % 3.9 % Rate of compensation increase 2.9 % 3.0 % 3.0 % n/a n/a n/a Expected return on plan assets 5.1 % 5.3 % 5.3 % n/a n/a n/a

Retirement Benefits (Tables)

Retirement Benefits (Tables)	12 Months Ended
	Mar. 31, 2019
Retirement Benefits [Abstract]
Components of Net Benefit Costs	The components of net periodic benefit cost reported in the consolidated statements of operations are as follows (in millions): Year Ended March 31, 2019 March 31, 2018 March 31, 2017 Pension Benefits: Service cost $ 0.5 $ 1.0 $ 1.8 Interest cost 23.6 24.3 25.6 Expected return on plan assets (24.8 ) (26.7 ) (27.1 ) Amortization of: Prior service cost — — 0.1 Benefit cost (income) associated with special events: Curtailment (1) — (0.3 ) (1.4 ) Contractual termination benefits (2) — — 2.2 Settlement (3) 0.6 — — Recognition of actuarial losses (gains) 0.7 (1.1 ) — Net periodic benefit cost (income) $ 0.6 $ (2.8 ) $ 1.2 Other Postretirement Benefits: Service cost $ — $ — $ 0.1 Interest cost 0.8 1.0 1.1 Amortization: Prior service credit (1.5 ) (1.9 ) (2.0 ) Benefit cost associated with special events: Curtailment (1) — — 0.4 Recognition of actuarial gains (1.7 ) (1.9 ) (1.6 ) Net periodic benefit income $ (2.4 ) $ (2.8 ) $ (2.0 ) ______________________ (1) During fiscal 2018 and 2017, certain active participants of a foreign pension plan were transferred out of the pension plan and placed into a defined contribution plan, resulting in a curtailment gain of $0.3 million and $1.4 million , respectively. In addition, during fiscal 2017 the Company also recognized a curtailment loss of $0.4 million associated with a postretirement benefit plan resulting from the closure of a U.S. manufacturing facility. The recognition of the non-cash net curtailment gain of $0.3 million and $1.0 million is recorded within Other expense (income), net in the consolidated statements of operations for the fiscal years ended March 31, 2018 and 2017, respectively. (2) (During fiscal 2017, the Company recognized incremental expense of $2.2 million of termination benefits associated with incremental benefits participants of the Company’s domestic union defined benefit plans will receive following the Company’s decision to close one of its U.S. manufacturing facilities. The contractual termination benefit is recorded within Restructuring and other similar charges in the fiscal 2017 consolidated statements of operations. (3) During the fourth quarter of fiscal 2019, the Company settled the benefits of a Canadian defined benefit pension plan through either a lump-sum transfer or the purchase of an annuity from an insurance company. As a result of the settlement, the Company performed a re-measurement of the plan assets and benefit obligations for the pension plan as at March 31, 2019, which resulted in the immediate recognition of a $0.6 million non-cash actuarial loss, which is recorded within Other expense (income), net in the fiscal 2019 consolidated statements of operations. There will be no impact from this event in fiscal periods following March 31, 2019.
Summary of the Plan's Status	The status of the plans is summarized as follows (in millions): Pension Benefits Other Postretirement Benefits Year Ended March 31, 2019 Year Ended March 31, 2018 Year Ended March 31, 2019 Year Ended March 31, 2018 Benefit obligation at beginning of period $ (652.5 ) $ (659.3 ) $ (21.5 ) $ (25.7 ) Service cost (0.5 ) (1.0 ) — — Interest cost (23.6 ) (24.3 ) (0.8 ) (1.0 ) Actuarial gains 1.7 7.1 2.5 2.8 Benefits paid 40.7 40.8 1.9 3.0 Plan participant contributions — (0.1 ) (0.5 ) (0.6 ) Acquisitions (1) — (6.3 ) — — Curtailments — 0.3 — — Settlements 3.2 — — — Translation and other adjustments 7.2 (9.7 ) 1.5 — Benefit obligation at end of period $ (623.8 ) $ (652.5 ) $ (16.9 ) $ (21.5 ) Plan assets at the beginning of the period $ 507.4 $ 513.0 $ — $ — Actual return on plan assets 15.8 23.6 — — Contributions 4.0 5.5 2.5 3.0 Benefits paid (40.7 ) (40.8 ) (2.5 ) (3.0 ) Acquisitions (1) — 2.3 — — Settlements (3.4 ) — — — Translation adjustment (2.9 ) 3.8 — — Plan assets at end of period $ 480.2 $ 507.4 $ — $ — Funded status of plans $ (143.6 ) $ (145.1 ) $ (16.9 ) $ (21.5 ) Net amount on Consolidated Balance Sheets consists of: Non-current assets $ 0.8 $ 0.6 $ — $ — Current liabilities (1.7 ) (1.9 ) (1.6 ) (2.1 ) Long-term liabilities (142.7 ) (143.8 ) (15.3 ) (19.4 ) Total net funded status $ (143.6 ) $ (145.1 ) $ (16.9 ) $ (21.5 ) ______________________ (1) Includes the acquisition of Centa during fiscal 2018. See Note 3, Acquisitions for additional information.
Schedule of Amounts in Accumulated Other Comprehensive Income (Loss) to be Recognized	Amounts included in accumulated other comprehensive loss (income), net of tax, related to defined benefit plans at March 31, 2019 and 2018 consist of the following (in millions): As of March 31, 2019 Pension Benefits Postretirement Benefits Total Unrecognized prior service credit $ (0.1 ) $ (1.4 ) $ (1.5 ) Unrecognized actuarial loss (gain) 52.6 (1.7 ) 50.9 Accumulated other comprehensive loss (income), gross 52.5 (3.1 ) 49.4 Deferred income tax (benefit) provision (12.9 ) 0.8 (12.1 ) Accumulated other comprehensive loss (income), net $ 39.6 $ (2.3 ) $ 37.3 As of March 31, 2018 Pension Benefits Postretirement Benefits Total Unrecognized prior service credit $ (0.2 ) $ (1.2 ) $ (1.4 ) Unrecognized actuarial loss (gain) 46.2 (1.7 ) 44.5 Accumulated other comprehensive loss (income), gross 46.0 (2.9 ) 43.1 Deferred income tax (benefit) provision (15.9 ) 1.0 (14.9 ) Accumulated other comprehensive loss (income), net $ 30.1 $ (1.9 ) $ 28.2
Schedule of Assumptions Used	Years Ended March 31, 2018 March 31, 2017 Expected volatility factor 31 % 30 % Weighted-average risk-free interest rate 1.45 % 0.86 % Expected dividend rate 0.0 % 0.0 % PSU fair value per share $31.25 $27.67 The following table presents significant assumptions used to determine benefit obligations and net periodic benefit cost (income) in weighted-average percentages: Pension Benefits Other Postretirement Benefits March 31, 2019 March 31, 2018 March 31, 2017 March 31, 2019 March 31, 2018 March 31, 2017 Benefit Obligations: Discount rate 3.7 % 3.7 % 3.9 % 3.9 % 4.0 % 4.0 % Rate of compensation increase 2.9 % 2.9 % 3.0 % n/a n/a n/a Net Periodic Benefit Cost: Discount rate 3.7 % 3.9 % 3.8 % 4.0 % 4.0 % 3.9 % Rate of compensation increase 2.9 % 3.0 % 3.0 % n/a n/a n/a Expected return on plan assets 5.1 % 5.3 % 5.3 % n/a n/a n/a
Schedule of Allocation of Plan Assets	The following table presents the Company’s target investment allocations for the year ended March 31, 2019 and actual investment allocations at March 31, 2019 and 2018 . Plan Assets 2019 2018 Investment Policy (1) Target Allocation (2) Actual Allocation Actual Allocation Equity securities 20% - 30% 28% 26% 28% Debt securities (including cash and cash equivalents) 55% - 80% 64% 64% 65% Other 0% - 10% 9% 10% 7% ______________________ (1) The investment policy allocation represents the guidelines of the Company's pension plans based on the changes in the plans funded status. (2) The target allocations represent the weighted average target allocations for the Company's pension plans.
Schedule of Fair Value of Pension Plan Assets	The fair values of the Company’s deferred compensation plan assets and liability are included in the table below (in millions). For additional information on the fair value hierarchy and the inputs used to measure fair value, see Note 13 , Fair Value Measurements. Fair Value as of March 31, 2019 Quoted Prices in Significant Other Significant Total Deferred compensation plan assets: Mutual funds (1) $ 2.3 $ — $ — $ 2.3 Corporate-owned life insurance policies (2) — 3.7 — 3.7 Total assets at fair value $ 2.3 $ 3.7 $ — $ 6.0 Deferred compensation liability at fair value (3): $ 6.1 $ — $ — $ 6.1 Fair Value as of March 31, 2018 Quoted Prices in Significant Other Significant Total Deferred compensation plan assets: Mutual funds (1) $ 1.6 $ — $ — $ 1.6 Corporate-owned life insurance policies (2) — 1.9 — 1.9 Total assets at fair value $ 1.6 $ 1.9 $ — $ 3.5 Deferred compensation liability at fair value (3): $ 3.5 $ — $ — $ 3.5 ______________________ (1) The Company has elected to use the fair value option for the mutual funds to better align the measurement of the assets with the measurement of the liability, which are measured using quoted prices of identical instruments in active markets and are categorized as Level 1. (2) The corporate-owned life insurance contracts are recorded at cash surrender value, which is provided by a third party and reflects the net asset value of the underlying publicly traded mutual funds, and are categorized as Level 2. (3) The deferred compensation liability is measured at fair value based on the quoted prices of identical instruments to the investment vehicles selected by the participants. The fair values of the Company’s pension plan assets for both the U.S and non-U.S. plans at March 31, 2019 and 2018 , by asset category are included in the table below (in millions). For additional information on the fair value hierarchy and the inputs used to measure fair value, see Note 13 , Fair Value Measurements. As of March 31, 2019 Quoted Prices in Active Market (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Assets measured at net asset value (1) Total Cash and cash equivalents $ 20.2 $ — $ — $ — $ 20.2 Investment funds Fixed income funds (2) — — — 304.6 304.6 U.S. equity funds (3) — — — 54.3 54.3 International equity funds (3) — — — 33.4 33.4 Balanced funds (3) — — — 6.4 6.4 Alternative investment funds (4) — — — 31.4 31.4 Insurance contracts — — 29.9 — 29.9 Total $ 20.2 $ — $ 29.9 $ 430.1 $ 480.2 As of March 31, 2018 Quoted Prices in Active Market (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Assets measured at net asset value (1) Total Cash and cash equivalents $ 2.2 $ — $ — $ 3.7 $ 5.9 Investment funds Fixed income funds (2) 10.7 — — 317.3 328.0 U.S. equity funds (3) 2.3 — — 59.6 61.9 International equity funds (3) 0.3 — — 35.6 35.9 Balanced funds (3) — — — 9.5 9.5 Alternative investment funds (4) — — — 36.0 36.0 Insurance contracts — — 30.2 — 30.2 Total $ 15.5 $ — $ 30.2 $ 461.7 $ 507.4 ______________________ (1) Certain investments that are measured at fair value using the net asset value per share (or its equivalent) have not been classified in the fair value hierarchy. The fair value amounts presented in this table are intended to permit reconciliation of the fair value hierarchy to the amounts presented in the statement of financial position. (2) The Company's fixed income mutual and commingled funds primarily include investments in U.S. government securities and corporate bonds. The commingled funds also include an insignificant portion of investments in asset-backed securities or partnerships. The mutual and commingled funds are primarily valued using the net asset value, which reflects the plan's share of the fair value of the investments. (3) The Company's equity mutual and commingled funds primarily include investments in U.S. and international common stock. The balanced mutual and commingled funds invest in a combination of fixed income and equity securities. The mutual and commingled funds are primarily valued using the net asset value, which reflects the plan's share of the fair value of the investments. (4) The Company's alternative investments include venture capital and partnership investments. Alternative investments are valued using the net asset value, which reflects the plan's share of the fair value of the investments. The Company is generally able to redeem investments at periodic times during the year with notice provided to the general partner.
Summary of Changes in Fair Value, Level 3	The table below sets forth a summary of changes in the fair value of the Level 3 investments for the years ended March 31, 2019 and 2018 (in millions): Insurance Contracts Ending balance, March 31, 2017 $ 23.9 Actual return on assets: Related to assets held at reporting date 3.9 Related to assets sold during the period — Related to assets acquired by acquisition (1) 2.4 Purchases, sales, issuances and settlements — Ending balance, March 31, 2018 30.2 Actual return on assets: Related to assets held at reporting date (0.3 ) Related to assets sold during the period — Purchases, sales, issuances and settlements — Ending balance, March 31, 2019 $ 29.9 ______________________ (1) Relates to the assets acquired in connection with the Company's acquisition of Centa during fiscal 2018. See Note 3, Acquisitions for additional information.
Schedule of Expected Benefit Payments	Expected benefit payments to be paid in each of the next five fiscal years and in the aggregate for the five fiscal years thereafter are as follows (in millions): Years Ending March 31: Pension Benefits Other Postretirement Benefits 2020 $ 45.1 $ 1.7 2021 39.8 1.6 2022 39.7 1.5 2023 39.5 1.4 2024 39.8 1.4 2025 - 2029 190.2 5.8
Schedule of Effect of One-Percentage-Point Change in Assumed Health Care Cost Trend Rates	A one-percentage point change in assumed health care cost trend rates would have the following effect (in millions): One Percentage Point Increase One Percentage Point Decrease Years Ended March 31, Years Ended March 31, 2019 2018 2017 2019 2018 2017 Increase (decrease) in total of service and interest cost components $ 0.1 $ 0.1 $ 0.1 $ — $ (0.1 ) $ (0.1 ) Increase (decrease) in postretirement benefit obligation 1.2 1.5 2.1 (1.0 ) (1.3 ) (1.8 )

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Mar. 31, 2019
Income Tax Disclosure [Abstract]
Components of the Provision (Benefit) For Income Taxes	The components of the provision (benefit) for income taxes are as follows (in millions): Year ended March 31, 2019 2018 2017 Current: United States $ 55.7 $ 29.9 $ 18.9 Non-United States 21.6 23.1 16.0 State and local 8.0 4.1 2.5 Total current 85.3 57.1 37.4 Deferred: United States (23.0 ) (71.5 ) (19.1 ) Non-United States (5.2 ) (3.1 ) (0.9 ) State and local (3.7 ) (2.0 ) (1.8 ) Total deferred (31.9 ) (76.6 ) (21.8 ) Provision (benefit) for income taxes $ 53.4 $ (19.5 ) $ 15.6
U.S. Statutory Income Tax Rate Reconciliation	The provision (benefit) for income taxes differs from the United States statutory income tax rate due to the following items (in millions): Year ended March 31, 2019 2018 2017 Provision for income taxes at U.S. federal statutory income tax rate $ 50.1 $ 59.0 $ 37.5 State and local income taxes, net of federal benefit 5.3 2.9 1.1 Nef effects of foreign rate differential 1.8 (2.6 ) 0.8 Net effects of foreign operations 1.6 (7.4 ) (5.3 ) Net effect to deferred taxes for changes in tax rates (2.6 ) (0.3 ) (0.3 ) Net effect to deferred taxes for U.S. Tax Reform 0.8 (67.1 ) — Net effect of U.S. Tax Reform transition tax (0.1 ) 0.2 — Net effects of GILTI inclusion 6.5 — — Foreign derived intangible income deduction (1.8 ) — — Unrecognized tax benefits, net of federal benefit (7.0 ) 1.1 1.3 Domestic production activities deduction — (3.2 ) (3.2 ) Research and development credit (0.9 ) (0.9 ) (7.6 ) Excess tax benefits related to equity compensation (1.1 ) (0.5 ) (7.0 ) §162(m) compensation limitation 1.9 1.0 — Net changes in valuation allowance (2.3 ) (2.8 ) (2.3 ) Other 1.2 1.1 0.6 Provision (benefit) for income taxes $ 53.4 $ (19.5 ) $ 15.6
Components of Income (Loss) Before Income Taxes	The provision (benefit) for income taxes was calculated based upon the following components of income from continuing operations before income taxes (in millions): Year ended March 31, 2019 2018 2017 United States $ 174.8 $ 117.1 $ 69.1 Non-United States 64.0 70.0 38.2 Income before income taxes $ 238.8 $ 187.1 $ 107.3
Schedule of Deferred Income Taxes	Deferred income taxes consist of the tax effects of the following temporary differences (in millions): March 31, 2019 March 31, 2018 Deferred tax assets: Compensation and retirement benefits $ 55.7 $ 47.0 General accruals and reserves 9.8 7.1 State tax net operating loss carryforwards 21.9 23.1 Federal and state capital loss carryforwards 12.7 — Foreign net operating loss and interest carryforwards 6.7 9.2 Other 0.3 3.1 Total deferred tax assets before valuation allowance 107.1 89.5 Valuation allowance (32.4 ) (23.0 ) Total deferred tax assets 74.7 66.5 Deferred tax liabilities: Property, plant and equipment 32.6 33.1 Inventories 15.4 19.7 Intangible assets and goodwill 137.9 142.5 Cancellation of indebtedness — 7.1 Total deferred tax liabilities 185.9 202.4 Net deferred tax liabilities $ 111.2 $ 135.9 Net amount on Consolidated Balance Sheets consists of: Other assets $ 14.7 $ 13.4 Deferred income taxes (125.9 ) (149.3 ) Net long-term deferred tax liabilities $ (111.2 ) $ (135.9 )
Reconciliation of Gross Unrecognized Tax Benefits	The following table represents a reconciliation of the beginning and ending amount of the gross unrecognized tax benefits, excluding interest and penalties, for the fiscal years ended March 31, 2019 and March 31, 2018 (in millions): Year Ended March 31, 2019 2018 Balance at beginning of period $ 15.6 $ 15.0 Additions based on tax positions related to the current year 7.7 0.8 Additions for tax positions of prior years 4.7 — Reductions for tax positions of prior years — — Settlements (2.3 ) — Reductions due to lapse of applicable statute of limitations (7.1 ) (0.6 ) Cumulative translation adjustment (0.3 ) 0.4 Balance at end of period $ 18.3 $ 15.6

Business Segment Information (T

Business Segment Information (Tables)	12 Months Ended
	Mar. 31, 2019
Segment Reporting [Abstract]
Schedule of Business Segment Information	Business Segment Information: (in Millions) Year Ended March 31, 2019 March 31, 2018 March 31, 2017 Net sales by product Process & Motion Control: Original equipment manufacturers/ end-users $ 768.5 $ 690.5 $ 594.6 Maintenance, repair, and operations 612.1 550.7 540.1 Total Process & Motion Control 1,380.6 1,241.2 1,134.7 Water Management: Water safety, quality, flow control and conservation 624.4 566.9 538.9 Water infrastructure 45.9 43.5 38.9 Total Water Management 670.3 610.4 577.8 Consolidated net sales 2,050.9 1,851.6 1,712.5 Income (loss) from operations Process & Motion Control 226.1 191.3 133.0 Water Management 139.7 125.7 112.3 Corporate (60.2 ) (50.6 ) (42.1 ) Consolidated income from operations 305.6 266.4 203.2 Non-operating expense: Interest expense, net (69.9 ) (75.1 ) (88.3 ) Gain (loss) on the extinguishment of debt 4.3 (11.9 ) (7.8 ) Other (expense) income, net (1.2 ) 7.7 0.2 Income from continuing operations before income taxes 238.8 187.1 107.3 (Provision) benefit for income taxes (53.4 ) 19.5 (15.6 ) Equity method investment income 3.6 — — Net income from continuing operations 189.0 206.6 91.7 Loss from discontinued operations, net of tax (154.7 ) (130.6 ) (17.6 ) Net income 34.3 76.0 74.1 Non-controlling interest income — 0.1 — Net income attributable to Rexnord 34.3 75.9 74.1 Dividends on preferred stock (23.2 ) (23.2 ) (7.3 ) Net income attributable to Rexnord common stockholders $ 11.1 $ 52.7 $ 66.8 Depreciation and Amortization Process & Motion Control $ 63.0 $ 56.0 $ 69.9 Water Management 24.9 23.7 26.2 Consolidated $ 87.9 $ 79.7 $ 96.1 Capital Expenditures Process & Motion Control $ 36.3 $ 34.2 $ 42.0 Water Management 6.2 3.8 8.8 Consolidated $ 42.5 $ 38.0 $ 50.8 March 31, 2019 March 31, 2018 March 31, 2017 Total Assets Process & Motion Control $ 2,677.7 $ 2,598.8 $ 2,671.4 Water Management 576.8 820.9 862.3 Corporate 5.2 4.0 5.6 Consolidated $ 3,259.7 $ 3,423.7 $ 3,539.3
Summary of Net Sales and Long-Lived Assets	Net sales to third parties and long-lived assets by geographic region are as follows (in millions): Net Sales Long-lived Assets Year Ended March 31, 2019 Year Ended March 31, 2018 Year Ended March 31, 2017 March 31, 2019 March 31, 2018 March 31, 2017 United States $ 1,460.6 $ 1,361.6 $ 1,285.1 $ 260.7 $ 260.9 $ 261.9 Europe 327.5 255.5 218.9 78.9 91.2 37.7 Rest of World 262.8 234.5 208.5 43.4 44.4 41.9 $ 2,050.9 $ 1,851.6 $ 1,712.5 $ 383.0 $ 396.5 $ 341.5

Quarterly Results of Operatio_2

Quarterly Results of Operations (unaudited) (Tables)	12 Months Ended
	Mar. 31, 2019
Quarterly Financial Information Disclosure [Abstract]
Schedule of Quarterly Financial Information	Fiscal 2019 First Quarter (1) Second Quarter (2) Third Quarter (3) Fourth Quarter Total Net sales $ 503.6 $ 524.8 $ 485.0 $ 537.5 $ 2,050.9 Gross profit 195.5 203.2 184.3 201.8 784.8 Net income from continuing operations 42.2 46.2 52.9 47.7 189.0 Loss from discontinued operations, net of tax (42.8 ) (83.7 ) (27.8 ) (0.4 ) (154.7 ) Net (loss) income (0.6 ) (37.5 ) 25.1 47.3 34.3 Non-controlling interest income (loss) 0.1 0.1 (0.3 ) 0.1 — Net (loss) income attributable to Rexnord (0.7 ) (37.6 ) 25.4 47.2 34.3 Dividends on preferred stock (5.8 ) (5.8 ) (5.8 ) (5.8 ) (23.2 ) Net (loss) income attributable to Rexnord common stockholders $ (6.5 ) $ (43.4 ) $ 19.6 $ 41.4 $ 11.1 Basic net income (loss) per share attributable to Rexnord common stockholders Continuing operations $ 0.35 $ 0.39 $ 0.45 $ 0.40 $ 1.58 Discontinued operations $ (0.41 ) $ (0.80 ) $ (0.27 ) $ — $ (1.48 ) Net (loss) income $ (0.06 ) $ (0.42 ) $ 0.19 $ 0.39 $ 0.11 Diluted net income (loss) per share attributable to Rexnord common stockholders Continuing operations $ 0.34 $ 0.37 $ 0.43 $ 0.39 $ 1.53 Discontinued operations $ (0.40 ) $ (0.68 ) $ (0.23 ) $ — $ (1.25 ) Net (loss) income $ (0.06 ) $ (0.30 ) $ 0.21 $ 0.38 $ 0.28 ______________________ (1) The first quarter of fiscal 2019 included a $44.0 million non-cash asset impairment to reduce the carrying amount of the held-for-sale VAG business to its estimated fair value less costs to sell. Refer to Note 4 , Discontinued Operations for additional information. (2) The second quarter of fiscal 2019 included an $82.0 million non-cash asset impairment charge to reduce the carrying amount of the held-for-sale VAG business to its estimated fair value less costs to sell. Refer to Note 4 , Discontinued Operations for additional information. (3) The third quarter of fiscal 2019 included a $19.7 million non-cash pre-tax loss on the sale of the VAG business, which was completed during the quarter. Refer to Note 4 , Discontinued Operations for additional information. Fiscal 2018 First Quarter Second Quarter Third Quarter (1) Fourth Quarter (2) Total Net sales $ 443.2 $ 453.8 $ 436.7 $ 517.9 $ 1,851.6 Gross profit 164.1 173.6 170.1 198.7 706.5 Net income from continuing operations 29.4 33.3 85.9 58.0 206.6 Loss from discontinued operations, net of tax (2.9 ) (3.5 ) (4.3 ) (119.9 ) (130.6 ) Net income (loss) 26.5 29.8 81.6 (61.9 ) 76.0 Non-controlling interest income — — — 0.1 0.1 Net income attributable to Rexnord 26.5 29.8 81.6 (62.0 ) 75.9 Dividends on preferred stock (5.8 ) (5.8 ) (5.8 ) (5.8 ) (23.2 ) Net income (loss) attributable to Rexnord common stockholders $ 20.7 $ 24.0 $ 75.8 $ (67.8 ) $ 52.7 Basic net income (loss) per share attributable to Rexnord common stockholders Continuing operations $ 0.23 $ 0.26 $ 0.77 $ 0.50 $ 1.76 Discontinued operations $ (0.03 ) $ (0.03 ) $ (0.04 ) $ (1.15 ) $ (1.26 ) Net income (loss) $ 0.20 $ 0.23 $ 0.73 $ (0.65 ) $ 0.51 Diluted net income (loss) per share attributable to Rexnord common stockholders Continuing operations $ 0.23 $ 0.26 $ 0.70 $ 0.47 $ 1.69 Discontinued operations $ (0.03 ) $ (0.03 ) $ (0.04 ) $ (0.98 ) $ (1.07 ) Net income (loss) $ 0.20 $ 0.23 $ 0.67 $ (0.51 ) $ 0.62 ______________________ (1) The third quarter of fiscal 2018 included a $65.9 million net income tax benefit associated with the remeasurement of the Company's net U.S. deferred tax liability as a result of U.S. tax reform. Refer to Note 17 , Income Taxes for additional information. (2) The fourth quarter of fiscal 2018 included a $111.2 million non-cash goodwill impairment charge related to the VAG business. Refer to Note 4 , Discontinued Operations for additional information.

Guarantor Subsidiaries (Tables)

Guarantor Subsidiaries (Tables)	12 Months Ended
	Mar. 31, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Condensed Balance Sheet	Condensed Consolidating Balance Sheets March 31, 2019 (in millions) Parent Issuers Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated Assets Current assets: Cash and cash equivalents $ 1.4 $ 0.2 $ 107.7 $ 183.2 $ — $ 292.5 Receivables, net — — 219.6 114.7 — 334.3 Inventories — — 214.3 102.2 — 316.5 Income tax receivable — — 0.5 2.8 — 3.3 Other current assets — — 12.5 23.8 — 36.3 Total current assets 1.4 0.2 554.6 426.7 — 982.9 Property, plant and equipment, net — — 251.2 131.8 — 383.0 Intangible assets, net — — 411.6 99.9 — 511.5 Goodwill — — 1,017.1 282.6 — 1,299.7 Investment in: Issuer subsidiaries 1,212.1 — — — (1,212.1 ) — Guarantor subsidiaries — 3,146.0 — — (3,146.0 ) — Non-guarantor subsidiaries — — 547.4 — (547.4 ) — Other assets — 1.1 63.1 18.4 — 82.6 Total assets $ 1,213.5 $ 3,147.3 $ 2,845.0 $ 959.4 $ (4,905.5 ) $ 3,259.7 Liabilities and stockholders' equity Current liabilities: Current maturities of debt $ — $ — $ 0.1 $ 1.1 $ — $ 1.2 Trade payables — — 129.7 62.0 — 191.7 Compensation and benefits — — 42.4 21.3 — 63.7 Current portion of pension and postretirement benefit obligations — — 1.9 1.4 — 3.3 Other current liabilities 3.0 7.5 90.3 36.3 — 137.1 Total current liabilities 3.0 7.5 264.4 122.1 — 397.0 Long-term debt — 1,213.4 14.4 9.0 — 1,236.8 Note (receivable from) payable to affiliates, net (20.7 ) 714.3 (879.0 ) 185.4 — — Pension and postretirement benefit obligations — — 112.9 45.1 — 158.0 Deferred income taxes — — 98.8 27.1 — 125.9 Other liabilities 0.2 — 87.4 23.4 — 111.0 Total liabilities (17.5 ) 1,935.2 (301.1 ) 412.1 — 2,028.7 Total stockholders' equity 1,231.0 1,212.1 3,146.1 547.3 (4,905.5 ) 1,231.0 Total liabilities and stockholders' equity $ 1,213.5 $ 3,147.3 $ 2,845.0 $ 959.4 $ (4,905.5 ) $ 3,259.7 Condensed Consolidating Balance Sheets March 31, 2018 (in millions) Parent Issuers Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated Assets Current assets: Cash and cash equivalents $ — $ — $ 40.2 $ 153.0 $ — $ 193.2 Receivables, net — — 200.4 114.3 — 314.7 Inventories — — 196.3 107.8 — 304.1 Income tax receivable 7.4 — 5.4 4.7 — 17.5 Other current assets — — 12.0 25.9 — 37.9 Current assets held for sale — — 12.1 118.2 — 130.3 Total current assets 7.4 — 466.4 523.9 — 997.7 Property, plant and equipment, net — — 250.1 146.4 — 396.5 Intangible assets, net — — 438.8 92.1 — 530.9 Goodwill — — 1,010.6 265.5 — 1,276.1 Investment in: Issuer subsidiaries 1,177.5 — — — (1,177.5 ) — Guarantor subsidiaries — 3,053.3 — — (3,053.3 ) — Non-guarantor subsidiaries — — 602.3 — (602.3 ) — Other assets 40.5 1.4 34.2 37.9 — 114.0 Non-current assets held for sale — — 8.0 100.5 — 108.5 Total assets $ 1,225.4 $ 3,054.7 $ 2,810.4 $ 1,166.3 $ (4,833.1 ) $ 3,423.7 Liabilities and stockholders' equity Current liabilities: Current maturities of debt $ — $ — $ 0.1 $ 3.8 $ — $ 3.9 Trade payables — — 128.8 61.1 — 189.9 Compensation and benefits — — 41.5 22.4 — 63.9 Current portion of pension and postretirement benefit obligations — — 2.4 1.6 — 4.0 Other current liabilities 3.0 9.4 74.0 41.0 — 127.4 Current liabilities held for sale — — 6.0 59.1 — 65.1 Total current liabilities 3.0 9.4 252.8 189.0 — 454.2 Long-term debt — 1,285.8 55.8 10.5 — 1,352.1 Note payable to (receivable from) affiliates, net 9.4 581.3 (845.6 ) 254.9 — — Pension and postretirement benefit obligations — — 114.7 48.5 — 163.2 Deferred income taxes — 0.7 116.2 32.4 — 149.3 Other liabilities 0.2 — 62.3 15.8 — 78.3 Non-current liabilities held for sale — — 0.9 12.9 — 13.8 Total liabilities 12.6 1,877.2 (242.9 ) 564.0 — 2,210.9 Total stockholders' equity 1,212.8 1,177.5 3,053.3 602.3 (4,833.1 ) 1,212.8 Total liabilities and stockholders' equity $ 1,225.4 $ 3,054.7 $ 2,810.4 $ 1,166.3 $ (4,833.1 ) $ 3,423.7
Condensed Income Statement	Condensed Consolidating Statements of Operations For the Year Ended March 31, 2019 (in millions) Parent Issuers Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated Net sales $ — $ — $ 1,565.0 $ 672.6 $ (186.7 ) $ 2,050.9 Cost of sales — — 977.1 475.7 (186.7 ) 1,266.1 Gross profit — — 587.9 196.9 — 784.8 Selling, general and administrative expenses — — 328.8 104.3 — 433.1 Restructuring and other similar charges — — 7.6 4.5 — 12.1 Amortization of intangible assets — — 27.5 6.5 — 34.0 Income from operations — — 224.0 81.6 — 305.6 Non-operating (expense) income: Interest income (expense), net: To third parties — (68.2 ) (2.0 ) 0.3 — (69.9 ) To affiliates 2.0 61.7 (53.2 ) (10.5 ) — — (Loss) gain on the extinguishment of debt — (0.7 ) 5.0 — — 4.3 Other income (expense), net — 0.3 4.1 (5.6 ) — (1.2 ) Income (loss) from continuing operations before income taxes 2.0 (6.9 ) 177.9 65.8 — 238.8 Provision for income taxes — — (44.5 ) (8.9 ) — (53.4 ) Equity method investment income — — — 3.6 — 3.6 Income (loss) before equity in income of subsidiaries 2.0 (6.9 ) 133.4 60.5 — 189.0 Equity in earnings (loss) of subsidiaries 32.3 39.2 (51.9 ) — (19.6 ) — Net income from continuing operations 34.3 32.3 81.5 60.5 (19.6 ) 189.0 Loss from discontinued operations, net of tax — — (42.3 ) (112.4 ) — (154.7 ) Net income (loss) 34.3 32.3 39.2 (51.9 ) (19.6 ) 34.3 Non-controlling interest income — — — — — — Net income (loss) attributable to Rexnord 34.3 32.3 39.2 (51.9 ) (19.6 ) 34.3 Dividends on preferred stock (23.2 ) — — — — (23.2 ) Net income (loss) attributable to Rexnord common stockholders 11.1 32.3 39.2 (51.9 ) (19.6 ) 11.1 Comprehensive income (loss) $ 34.3 $ 22.5 $ 34.1 $ (59.5 ) $ (19.6 ) $ 11.8 Condensed Consolidating Statements of Operations For the Year Ended March 31, 2018 (in millions) Parent Issuers Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated Net sales $ — $ — $ 1,457.3 $ 566.9 $ (172.6 ) $ 1,851.6 Cost of sales — — 910.3 407.4 (172.6 ) 1,145.1 Gross profit — — 547.0 159.5 — 706.5 Selling, general and administrative expenses — — 310.5 83.3 — 393.8 Restructuring and other similar charges — 12.8 1.3 — 14.1 Amortization of intangible assets — — 26.6 5.6 — 32.2 Income from operations — — 197.1 69.3 — 266.4 Non-operating (expense) income: Interest income (expense), net: To third parties — (75.3 ) (0.4 ) 0.6 — (75.1 ) To affiliates 3.0 27.4 (13.1 ) (17.3 ) — — Loss on the extinguishment of debt — (11.9 ) — — — (11.9 ) Other (expense) income, net — — (1.3 ) 9.0 — 7.7 Income (loss) from continuing operations before income taxes 3.0 (59.8 ) 182.3 61.6 — 187.1 Benefit (provision) for income taxes — — 39.7 (20.2 ) — 19.5 Net income (loss) before equity in loss of subsidiaries 3.0 (59.8 ) 222.0 41.4 — 206.6 Equity in earnings of subsidiaries 73.0 132.8 30.7 — (236.5 ) — Net income from continuing operations 76.0 73.0 252.7 41.4 (236.5 ) 206.6 Loss from discontinued operations, net of tax — — (119.9 ) (10.7 ) — (130.6 ) Net income 76.0 73.0 132.8 30.7 (236.5 ) 76.0 Non-controlling interest income — — — 0.1 — 0.1 Net income attributable to Rexnord 76.0 73.0 132.8 30.6 (236.5 ) 75.9 Dividends on preferred stock (23.2 ) — — — — (23.2 ) Net income attributable to Rexnord common stockholders 52.8 73.0 132.8 30.6 (236.5 ) 52.7 Comprehensive income $ 76.0 $ 89.2 $ 135.6 $ 74.6 $ (236.5 ) $ 138.9 Condensed Consolidating Statements of Operations For the Year Ended March 31, 2017 (in millions) Parent Issuers Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated Net sales $ — $ — $ 1,372.3 $ 455.2 $ (115.0 ) $ 1,712.5 Cost of sales — — 878.0 323.1 (115.0 ) 1,086.1 Gross profit — — 494.3 132.1 — 626.4 Selling, general and administrative expenses — — 286.1 70.0 — 356.1 Restructuring and other similar charges — — 24.9 1.2 — 26.1 Amortization of intangible assets — — 35.1 5.9 — 41.0 Income from operations — — 148.2 55.0 — 203.2 Non-operating (expense) income: Interest income (expense), net: To third parties — (88.1 ) (0.4 ) 0.2 — (88.3 ) To affiliates 1.1 74.3 (53.4 ) (22.0 ) — — Loss on the extinguishment of debt — (7.8 ) — — — (7.8 ) Other (expense) income, net — (0.3 ) (0.4 ) 0.9 — 0.2 Income (loss) from continuing operations before income taxes 1.1 (21.9 ) 94.0 34.1 — 107.3 Provision for income taxes — (0.1 ) (0.4 ) (15.1 ) — (15.6 ) Net income (loss) before equity in earnings of subsidiaries 1.1 (22.0 ) 93.6 19.0 — 91.7 Equity in earnings of subsidiaries 73.0 95.0 13.0 — (181.0 ) — Net income from continuing operations 74.1 73.0 106.6 19.0 (181.0 ) 91.7 Loss from discontinued operations, net of tax — — (11.6 ) (6.0 ) — (17.6 ) Net income 74.1 73.0 95.0 13.0 (181.0 ) 74.1 Non-controlling interest loss — — — — — — Net income attributable to Rexnord 74.1 73.0 95.0 13.0 (181.0 ) 74.1 Dividends on preferred stock (7.3 ) — — — — (7.3 ) Net income attributable to Rexnord common stockholders 66.8 73.0 95.0 13.0 (181.0 ) 66.8 Comprehensive income $ 74.1 $ 77.5 $ 86.0 $ 19.5 $ (181.0 ) $ 76.1
Condensed Cash Flow Statement	Condensed Consolidating Statements of Cash Flows For the Year Ended March 31, 2019 (in millions) Parent Issuer Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated Operating activities Cash provided by operating activities $ 19.9 $ 75.2 $ 112.9 $ 50.1 $ — $ 258.1 Investing activities Expenditures for property, plant and equipment — — (33.0 ) (11.9 ) — (44.9 ) Acquisitions, net of cash acquired — — (2.0 ) (21.4 ) — (23.4 ) Proceeds from dispositions of long-lived assets — — 4.7 — — 4.7 Cash dividend from equity method investment — — — 1.3 — 1.3 Net proceeds from divestiture of discontinued operations — — 3.0 6.0 — 9.0 Cash used for investing activities — — (27.3 ) (26.0 ) — (53.3 ) Financing activities Proceeds from borrowings of debt — — 268.0 2.8 — 270.8 Repayments of debt — (75.0 ) (286.8 ) (7.2 ) — (369.0 ) Payments of preferred stock dividends (23.2 ) — — — — (23.2 ) Proceeds from exercise of stock options 7.9 — — — — 7.9 Taxes withheld and paid on employees' share-based payment awards (3.2 ) — — — — (3.2 ) Cash used for financing activities (18.5 ) (75.0 ) (18.8 ) (4.4 ) — (116.7 ) Effect of exchange rate changes on cash, cash equivalents and restricted cash — — — (13.2 ) — (13.2 ) Increase in cash, cash equivalents and restricted cash 1.4 0.2 66.8 6.5 — 74.9 Cash, cash equivalents and restricted cash at beginning of period — — 40.9 176.7 — 217.6 Cash, cash equivalents and restricted cash at end of period $ 1.4 $ 0.2 $ 107.7 $ 183.2 $ — $ 292.5 Condensed Consolidating Statements of Cash Flows For the Year Ended March 31, 2018 (in millions) Parent Issuer Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated Operating activities Cash provided by (used for) operating activities $ 12.3 $ 313.4 $ (161.2 ) $ 64.0 $ — $ 228.5 Investing activities Expenditures for property, plant and equipment — — (28.4 ) (12.3 ) — (40.7 ) Acquisitions, net of cash acquired — — (50.0 ) (123.6 ) — (173.6 ) Proceeds from dispositions of long-lived assets — — 5.3 0.2 — 5.5 Cash used for investing activities — — (73.1 ) (135.7 ) — (208.8 ) Financing activities Proceeds from borrowings of debt — 1,324.0 205.8 — — 1,529.8 Repayments of debt — (1,626.5 ) (189.7 ) — — (1,816.2 ) Payment of debt issuance costs — (11.0 ) — — — (11.0 ) Payments of preferred stock dividends (23.2 ) — — — — (23.2 ) Proceeds from exercise of stock options 7.2 — — — — 7.2 Taxes withheld and paid on employees' share-based payment awards (1.2 ) — — — — (1.2 ) Proceeds from financing lease obligation — — 5.8 — — 5.8 Cash (used for) provided by financing activities (17.2 ) (313.5 ) 21.9 — — (308.8 ) Effect of exchange rate changes on cash, cash equivalents and restricted cash — — — 16.6 — 16.6 Decrease in cash, cash equivalents and restricted cash (4.9 ) (0.1 ) (212.4 ) (55.1 ) — (272.5 ) Cash, cash equivalents and restricted cash at beginning of period 4.9 0.1 253.3 231.8 — 490.1 Cash, cash equivalents and restricted cash at end of period $ — $ — $ 40.9 $ 176.7 $ — $ 217.6 Condensed Consolidating Statements of Cash Flows For the Year Ended March 31, 2017 (in millions) Parent Issuer Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated Operating activities Net cash (used for) provided by operating activities $ (397.5 ) $ 308.8 $ 215.7 $ 68.1 $ — $ 195.1 Investing activities Expenditures for property, plant and equipment — — (43.3 ) (11.2 ) — (54.5 ) Acquisitions, net of cash — — (213.4 ) (0.3 ) — (213.7 ) Proceeds from dispositions of long-lived assets — — 4.2 — — 4.2 Cash used for investing activities — — (252.5 ) (11.5 ) — (264.0 ) Financing activities Proceeds from borrowings of debt — 1,606.4 — — — 1,606.4 Repayments of debt — (1,905.3 ) — — — (1,905.3 ) Payment of debt issuance costs — (11.8 ) — — — (11.8 ) Deferred acquisition payment — — — (5.7 ) — (5.7 ) Proceeds from issuance of preferred stock, net of direct offering costs 389.7 — — — — 389.7 Payments of preferred stock dividends (4.4 ) — — — — (4.4 ) Proceeds from exercise of stock options 11.0 — — — — 11.0 Cash provided by (used for) financing activities 396.3 (310.7 ) — (5.7 ) — 79.9 Effect of exchange rate changes on cash, cash equivalents and restricted cash — — — (5.5 ) — (5.5 ) (Decrease) increase in cash, cash equivalents and restricted cash (1.2 ) (1.9 ) (36.8 ) 45.4 — 5.5 Cash, cash equivalents and restricted cash at beginning of period 6.1 2.0 290.1 186.4 — 484.6 Cash, cash equivalents and restricted cash at end of period $ 4.9 $ 0.1 $ 253.3 $ 231.8 $ — $ 490.1

Basis of Presentation and Des_2

Basis of Presentation and Description of Business - Narrative (Details) - segment	9 Months Ended	12 Months Ended
	Dec. 31, 2018	Mar. 31, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of operating platforms	2	2

Significant Accounting Polici_4

Significant Accounting Policies - Narrative (Details) - USD ($) shares in Millions	12 Months Ended			96 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Mar. 31, 2017	Mar. 31, 2019	Apr. 01, 2019
Property, Plant and Equipment [Line Items]
Allowance for doubtful accounts	$ 3,100,000	$ 4,400,000		$ 3,100,000
Largest customer percentage of consolidated net sales	8.60%	9.20%	9.40%
Largest customer accounts receivable balance	$ 7,500,000	$ 8,500,000		$ 7,500,000
Percentage of inventory valued using LIFO	62.00%	59.00%		62.00%
Write-down of inventories	$ 3,100,000	$ 4,300,000	$ 6,500,000
Accelerated depreciation	$ 3,900,000	$ 2,300,000	9,600,000
Goodwill and intangible assets useful life	13 years	13 years
Impairment charges, long-lived assets	$ 12,100,000	$ 14,100,000	$ 26,100,000	$ 95,300,000
Antidilutive shares excluded from computation for diluted net income per share (in shares)	1	2.6	4.6
Currency translation gains (losses)	$ 1,900,000	$ 200,000	$ 3,600,000
Advertising costs	11,900,000	10,700,000	9,100,000
Cost of sales	1,266,100,000	1,145,100,000	1,086,100,000
Selling, general and administrative expenses	(433,100,000)	(393,800,000)	(356,100,000)
Actuarial gain on pension and post retirement benefit obligations	(400,000)	(3,300,000)	(2,600,000)
ASU 2017-07
Property, Plant and Equipment [Line Items]
Cost of sales		(2,500,000)	(2,200,000)
Selling, general and administrative expenses		700,000	0
Actuarial gain on pension and post retirement benefit obligations		3,300,000	2,600,000
Operating Segments | Water Management
Property, Plant and Equipment [Line Items]
Impairment charges, long-lived assets	1,200,000	800,000	2,700,000	12,500,000
Facility Closing
Property, Plant and Equipment [Line Items]
Impairment charges, long-lived assets	300,000	800,000	1,500,000	3,600,000
Facility Closing | Operating Segments | Water Management
Property, Plant and Equipment [Line Items]
Impairment charges, long-lived assets	$ 0	$ 0	$ 0	$ 0
Redeemable Convertible Preferred Stock
Property, Plant and Equipment [Line Items]
Antidilutive shares excluded from computation for diluted net income per share (in shares)			5.8
Customer relationships (including distribution network)
Property, Plant and Equipment [Line Items]
Goodwill and intangible assets useful life	13 years	13 years
Patents
Property, Plant and Equipment [Line Items]
Goodwill and intangible assets useful life	10 years	10 years
Tradenames
Property, Plant and Equipment [Line Items]
Goodwill and intangible assets useful life	13 years	13 years
Minimum | Scenario, Forecast | Subsequent Event | ASU 2016-02
Property, Plant and Equipment [Line Items]
Right-of-use asset					$ 65,000,000
Lease liability					65,000,000
Minimum | Customer relationships (including distribution network)
Property, Plant and Equipment [Line Items]
Goodwill and intangible assets useful life	7 years
Minimum | Patents
Property, Plant and Equipment [Line Items]
Goodwill and intangible assets useful life	3 years
Minimum | Tradenames
Property, Plant and Equipment [Line Items]
Goodwill and intangible assets useful life	3 years
Minimum | Buildings and improvements
Property, Plant and Equipment [Line Items]
Property, plant and equipment useful life	10 years
Minimum | Machinery and equipment
Property, Plant and Equipment [Line Items]
Property, plant and equipment useful life	5 years
Minimum | Hardware and software
Property, Plant and Equipment [Line Items]
Property, plant and equipment useful life	3 years
Maximum | Scenario, Forecast | Subsequent Event | ASU 2016-02
Property, Plant and Equipment [Line Items]
Right-of-use asset					75,000,000
Lease liability					$ 75,000,000
Maximum | Customer relationships (including distribution network)
Property, Plant and Equipment [Line Items]
Goodwill and intangible assets useful life	20 years
Maximum | Patents
Property, Plant and Equipment [Line Items]
Goodwill and intangible assets useful life	15 years
Maximum | Tradenames
Property, Plant and Equipment [Line Items]
Goodwill and intangible assets useful life	15 years
Maximum | Buildings and improvements
Property, Plant and Equipment [Line Items]
Property, plant and equipment useful life	30 years
Maximum | Machinery and equipment
Property, Plant and Equipment [Line Items]
Property, plant and equipment useful life	10 years
Maximum | Hardware and software
Property, Plant and Equipment [Line Items]
Property, plant and equipment useful life	5 years

Significant Accounting Polici_5

Significant Accounting Policies - Product Warranty (Details) - USD ($) $ in Millions	12 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Mar. 31, 2017
Movement in Standard Product Warranty Accrual [Roll Forward]
Balance at beginning of period	$ 7.7	$ 6.2	$ 5.5
Acquired obligations	0	1.4	0.4
Charged to operations	1.9	4.1	3.2
Claims settled	(2.4)	(4)	(2.9)
Balance at end of period	$ 7.2	$ 7.7	$ 6.2

Significant Accounting Polici_6

Significant Accounting Policies - Schedule of Per Share Data (Details) - USD ($) shares in Thousands, $ in Millions	3 Months Ended								12 Months Ended
	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2019	Mar. 31, 2018	Mar. 31, 2017
Numerator:
Net income from continuing operations	$ 47.7	$ 52.9	$ 46.2	$ 42.2	$ 58	$ 85.9	$ 33.3	$ 29.4	$ 189	$ 206.6	$ 91.7
Less: Non-controlling interest income	0.1	(0.3)	0.1	0.1	0.1	0	0	0	0	0.1	0
Less: Dividends on preferred stock	5.8	5.8	5.8	5.8	5.8	5.8	5.8	5.8	23.2	23.2	7.3
Net income from continuing operations attributable to Rexnord common stockholders									165.8	183.3	84.4
Net income from continuing operations attributable to Rexnord common stockholders									189	206.5	84.4
Loss from discontinued operations	(0.4)	(27.8)	(83.7)	(42.8)	(119.9)	(4.3)	(3.5)	(2.9)	(154.7)	(130.6)	(17.6)
Net income (loss) attributable to Rexnord common stockholders	$ 41.4	$ 19.6	$ (43.4)	$ (6.5)	$ (67.8)	$ 75.8	$ 24	$ 20.7	11.1	52.7	66.8
Plus: Dividends on preferred stock									23.2	23.2	0
Net income attributable to Rexnord common stockholders									$ 34.3	$ 75.9	$ 66.8
Denominator:
Weighted-average common shares outstanding, basic (in shares)									104,640	103,889	102,753
Effect of dilutive common shares equivalents (in shares)									2,710	2,110	2,031
Preferred stock under the if-converted method (in shares)									15,979	15,985	0
Diluted (in shares)									123,329	121,984	104,784

Significant Accounting Polici_7

Significant Accounting Policies - Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Millions	12 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Mar. 31, 2017
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	$ 1,212.8	$ 1,070.6	$ 588
Other comprehensive (loss) income, net of tax	(22.5)	62.9	2
Ending balance	1,231	1,212.8	1,070.6
Interest Rate Derivatives
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	(3.7)	(9.5)	(16.9)
Other comprehensive (loss) income before reclassifications	0	0	1.1
Amounts reclassified from accumulated other comprehensive income (loss)	4.5	5.8	6.3
Other comprehensive (loss) income, net of tax	4.5	5.8	7.4
Ending balance	0.8	(3.7)	(9.5)
Foreign Currency Translation
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	(42.2)	(99.3)	(86.5)
Other comprehensive (loss) income before reclassifications	(39.4)	57.1	(12.8)
Amounts reclassified from accumulated other comprehensive income (loss)	21.5	0	0
Other comprehensive (loss) income, net of tax	(17.9)	57.1	(12.8)
Ending balance	(60.1)	(42.2)	(99.3)
Pension and Postretirement Plans
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	(28.2)	(28.2)	(35.6)
Other comprehensive (loss) income before reclassifications	(8.5)	1.4	9.2
Amounts reclassified from accumulated other comprehensive income (loss)	(0.6)	(1.4)	(1.8)
Other comprehensive (loss) income, net of tax	(9.1)	0	7.4
Ending balance	(37.3)	(28.2)	(28.2)
Total
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	(74.1)	(137)	(139)
Other comprehensive (loss) income before reclassifications	(47.9)	58.5	(2.5)
Amounts reclassified from accumulated other comprehensive income (loss)	25.4	4.4	4.5
Other comprehensive (loss) income, net of tax	(22.5)	62.9	2
Ending balance	$ (96.6)	$ (74.1)	$ (137)

Significant Accounting Polici_8

Significant Accounting Policies - Accumulated Other Comprehensive Loss Reclassification (Details) - USD ($) $ in Millions	3 Months Ended								12 Months Ended
	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2019	Mar. 31, 2018	Mar. 31, 2017
Pension and postretirement plans
Other (expense) income, net									$ 1.2	$ (7.7)	$ (0.2)
Provision for income taxes									53.4	(19.5)	15.6
Net income (loss)	$ 47.3	$ 25.1	$ (37.5)	$ (0.6)	$ (61.9)	$ 81.6	$ 29.8	$ 26.5	34.3	76	74.1
Interest rate derivatives
Benefit for income taxes									53.4	(19.5)	15.6
Net income (loss)	47.3	25.1	(37.5)	(0.6)	(61.9)	81.6	29.8	26.5	34.3	76	74.1
Loss from discontinued operations, net of tax	$ 0.4	$ 27.8	$ 83.7	$ 42.8	$ 119.9	$ 4.3	$ 3.5	$ 2.9	154.7	130.6	17.6
Accumulated Defined Benefit Plans Adjustment, Net Prior Service | Reclassification out of Accumulated Other Comprehensive Income
Pension and postretirement plans
Other (expense) income, net									(1.5)	(1.9)	(1.9)
Accumulated Defined Benefit Plans Adjustment Attributable to Parent, Lump Sum Settlement | Reclassification out of Accumulated Other Comprehensive Income
Pension and postretirement plans
Other (expense) income, net									0.6	0	0
Accumulated Defined Benefit Plans Adjustment Attributable to Parent, Curtailment | Reclassification out of Accumulated Other Comprehensive Income
Pension and postretirement plans
Other (expense) income, net									0	(0.3)	(1)
Accumulated Defined Benefit Plans Adjustment | Reclassification out of Accumulated Other Comprehensive Income
Pension and postretirement plans
Provision for income taxes									0.3	0.8	1.1
Net income (loss)									(0.6)	(1.4)	(1.8)
Interest rate derivatives
Benefit for income taxes									0.3	0.8	1.1
Net income (loss)									(0.6)	(1.4)	(1.8)
Accumulated Net Gain (Loss) from Cash Flow Hedges Including Portion Attributable to Noncontrolling Interest | Reclassification out of Accumulated Other Comprehensive Income
Pension and postretirement plans
Net income (loss)									4.5	5.8	6.3
Interest rate derivatives
Net income (loss)									4.5	5.8	6.3
Accumulated Net Gain (Loss) from Cash Flow Hedges Including Portion Attributable to Noncontrolling Interest | Reclassification out of Accumulated Other Comprehensive Income | Interest Rate Contract
Pension and postretirement plans
Provision for income taxes									(1.2)	(3.9)	(3.9)
Interest rate derivatives
Interest expense, net									5.7	9.7	10.2
Benefit for income taxes									(1.2)	(3.9)	(3.9)
Accumulated Foreign Currency Adjustment Including Portion Attributable to Noncontrolling Interest | Reclassification out of Accumulated Other Comprehensive Income
Pension and postretirement plans
Other (expense) income, net									1.8	0	0
Interest rate derivatives
Loss from discontinued operations, net of tax									19.7	0	0
Accumulated Foreign Currency Adjustment Attributable to Parent | Reclassification out of Accumulated Other Comprehensive Income
Pension and postretirement plans
Net income (loss)									21.5	0	0
Interest rate derivatives
Net income (loss)									$ 21.5	$ 0	$ 0

Significant Accounting Polici_9

Significant Accounting Policies - Research, Development and Engineering Costs (Details) - USD ($) $ in Millions	12 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Mar. 31, 2017
Accounting Policies [Abstract]
Research and development costs	$ 16.3	$ 13.3	$ 10.4
Engineering costs	25.4	22.5	24.6
Total	$ 41.7	$ 35.8	$ 35

Acquisitions - Narrative (Detai

Acquisitions - Narrative (Details) - USD ($) $ in Millions	Jan. 23, 2019	Sep. 24, 2018	Feb. 09, 2018	Oct. 04, 2017	Jun. 01, 2016	Jun. 30, 2016	Mar. 31, 2019	Mar. 31, 2018	Mar. 31, 2017	Jan. 22, 2019
Business Acquisition [Line Items]
Cash paid, net of cash acquired							$ 23.4	$ 173.6	$ 213.7
Goodwill							$ 1,299.7	1,276.1	1,216.5
Centa China
Business Acquisition [Line Items]
Cash paid, net of cash acquired	$ 21.4
Gain recognized from step acquisition	0.2
Reclassification of foreign currency translation adjustments upon sale of business	1.8
Goodwill	20.1
Other intangible assets	18.9
Trade working capital	8.9
Other net liabilities	2.2
Total cash purchase price	45.7
Centa China | Tradenames
Business Acquisition [Line Items]
Other intangible assets	1.3
Centa China | Customer Relationships
Business Acquisition [Line Items]
Other intangible assets	$ 17.6
Asset Acquisition 2018, Design And Distribution Assets | Water Management
Business Acquisition [Line Items]
Total cash purchase price		$ 2
Centa
Business Acquisition [Line Items]
Cash paid, net of cash acquired			$ 123.6
Maximum purchase price, net of cash acquired			129.7
Payments to acquire business, two future, equal annual installments			$ 6.1
World Dryer
Business Acquisition [Line Items]
Cash paid, net of cash acquired				$ 50
Centa And World Dryer
Business Acquisition [Line Items]
Goodwill								63.5
Other intangible assets								44.9
Trade working capital								37.5
Other net liabilities								2.3
Fixed assets								52.7
Long-term debt								16.6
Centa And World Dryer | Tradenames
Business Acquisition [Line Items]
Other intangible assets								9.9
Centa And World Dryer | Customer Relationships
Business Acquisition [Line Items]
Other intangible assets								29.4
Centa And World Dryer | Patents
Business Acquisition [Line Items]
Other intangible assets								$ 5.6
Cambridge
Business Acquisition [Line Items]
Goodwill									129.4
Other intangible assets									80.6
Total cash purchase price					$ 213.4
Other net assets									3.4
Cambridge | Tradenames
Business Acquisition [Line Items]
Other intangible assets									16.8
Cambridge | Customer Relationships
Business Acquisition [Line Items]
Other intangible assets									58.3
Cambridge | Patents
Business Acquisition [Line Items]
Other intangible assets									$ 5.5
Water Management
Business Acquisition [Line Items]
Cash paid, net of cash acquired						$ 0.3
Centa China
Business Acquisition [Line Items]
Additional interest, percent	47.50%
Ownership interest, percent										47.50%

Acquisitions - Schedule of Prel

Acquisitions - Schedule of Preliminary Purchase Price (Details) - USD ($) $ in Millions	Jan. 23, 2019	Mar. 31, 2019	Mar. 31, 2018	Mar. 31, 2017
Fair value of consideration transferred:
Cash paid, net of cash acquired		$ 23.4	$ 173.6	$ 213.7
Centa China
Fair value of consideration transferred:
Cash paid, net of cash acquired	$ 21.4
Other items to be allocated to identifiable assets acquired and liabilities assumed
Book value of investment in Centa China at the acquisition date	21.8
Gain recognized from step acquisition	0.2
Fair value of remaining non-controlling interest	2.3
Total	$ 45.7

Discontinued Operations - Narra

Discontinued Operations - Narrative (Details) - USD ($)	Nov. 26, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2019	Mar. 31, 2018	Mar. 31, 2017
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Net proceeds from the sale of business				$ 9,000,000	$ 0	$ 0
Non-cash asset impairment				300,000	800,000	1,500,000
Discontinued Operations, Disposed of by Sale
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Net proceeds from the sale of business	$ 9,000,000
Estimated cash proceeds upon closing	21,500,000
Additional purchase price provision, if circumstances met (up to)	20,000,000
Amount of contingent consideration not expected to receive	$ 5,000,000
Loss on sale of discontinued operations				22,500,000
Discontinued Operations, Held-for-sale
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Net proceeds from the sale of business				9,000,000	0	0
Non-cash asset impairment		$ 82,000,000	$ 44,000,000	$ 126,000,000	$ 111,200,000	$ 0

Discontinued Operations - Loss

Discontinued Operations - Loss From Discontinued Operations (Details) - USD ($) $ in Millions	3 Months Ended								12 Months Ended
	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2019	Mar. 31, 2018	Mar. 31, 2017
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Non-cash asset impairments									$ 0.3	$ 0.8	$ 1.5
Loss from discontinued operations, net of tax	$ (0.4)	$ (27.8)	$ (83.7)	$ (42.8)	$ (119.9)	$ (4.3)	$ (3.5)	$ (2.9)	(154.7)	(130.6)	(17.6)
Discontinued Operations, Held-for-sale
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Net sales									124.3	214.4	205.7
Cost of sales									94.9	166.5	166.3
Selling, general and administrative expenses									35.1	56.5	57.2
Restructuring and other similar charges									0	4.7	5.5
Amortization of intangible assets									0.3	1.4	1.1
Non-cash asset impairments			$ 82	$ 44					126	111.2	0
Loss on sale of discontinued operations		$ 19.7							22.5	0	0
Other non-operating expenses, net									3.2	4.7	0.9
Loss from discontinued operations before income tax									(157.7)	(130.6)	(25.3)
Income tax benefit									3	0	7.7
Loss from discontinued operations, net of tax									$ (154.7)	$ (130.6)	$ (17.6)

Discontinued Operations - Major

Discontinued Operations - Major Classes of Assets and Liabilities (Details) - USD ($) $ in Millions	Mar. 31, 2019	Mar. 31, 2018
Assets
Total current assets held for sale	$ 0	$ 130.3
Total non-current assets held for sale	0	108.5
Liabilities
Total current liabilities held for sale	0	65.1
Total non-current liabilities held for sale	$ 0	13.8
Discontinued Operations, Held-for-sale
Assets
Cash and cash equivalents		24.4
Receivables, net		58.5
Inventories		40.7
Other current assets		6.7
Total current assets held for sale		130.3
Property, plant and equipment, net		59.9
Intangible assets, net		46.6
Other assets		2
Total non-current assets held for sale		108.5
Liabilities
Trade payables		36.1
Compensation and benefits		6.1
Other current liabilities		22.9
Total current liabilities held for sale		65.1
Deferred income taxes		7.3
Other liabilities		6.5
Total non-current liabilities held for sale		$ 13.8

Discontinued Operations - Other

Discontinued Operations - Other Significant Operating Non-Cash Items (Details) - USD ($) $ in Millions	3 Months Ended		12 Months Ended
	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2019	Mar. 31, 2018	Mar. 31, 2017
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Non-cash asset impairment			$ 0.3	$ 0.8	$ 1.5
Net proceeds from divestiture of discontinued operations			9	0	0
Discontinued Operations, Held-for-sale
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Depreciation			4.1	8.6	8.2
Amortization of intangible assets			0.3	1.4	1.1
Non-cash asset impairment	$ 82	$ 44	126	111.2	0
Non-cash loss on sale of discontinued operations			22.5	0	0
Stock-based compensation			0	0.5	0.3
Capital expenditures			2.4	2.7	3.7
Net proceeds from divestiture of discontinued operations			$ 9	$ 0	$ 0

Restructuring and Other Simil_3

Restructuring and Other Similar Charges - By Operating Segment (Details) - USD ($) $ in Millions	12 Months Ended			96 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Mar. 31, 2017	Mar. 31, 2019
Restructuring Cost and Reserve [Line Items]
Charges	$ 12.1	$ 14.1	$ 26.1	$ 95.3
Employee termination benefits
Restructuring Cost and Reserve [Line Items]
Charges	7.1	5.2	18	65.2
Asset impairment charges
Restructuring Cost and Reserve [Line Items]
Charges	0.3	0.8	1.5	3.6
Contract termination and other associated costs
Restructuring Cost and Reserve [Line Items]
Charges	4.7	8.1	6.6	26.5
Operating Segments | Process & Motion Control
Restructuring Cost and Reserve [Line Items]
Charges	7.9	13.3	23.4	77.8
Operating Segments | Process & Motion Control | Employee termination benefits
Restructuring Cost and Reserve [Line Items]
Charges	5.6	4.6	16.5	54.5
Operating Segments | Process & Motion Control | Asset impairment charges
Restructuring Cost and Reserve [Line Items]
Charges	0.3	0.8	1.5	3.6
Operating Segments | Process & Motion Control | Contract termination and other associated costs
Restructuring Cost and Reserve [Line Items]
Charges	2	7.9	5.4	19.7
Operating Segments | Water Management
Restructuring Cost and Reserve [Line Items]
Charges	1.2	0.8	2.7	12.5
Operating Segments | Water Management | Employee termination benefits
Restructuring Cost and Reserve [Line Items]
Charges	0.9	0.6	1.5	8.1
Operating Segments | Water Management | Asset impairment charges
Restructuring Cost and Reserve [Line Items]
Charges	0	0	0	0
Operating Segments | Water Management | Contract termination and other associated costs
Restructuring Cost and Reserve [Line Items]
Charges	0.3	0.2	1.2	4.4
Corporate
Restructuring Cost and Reserve [Line Items]
Charges	3	0	0	5
Corporate | Employee termination benefits
Restructuring Cost and Reserve [Line Items]
Charges	0.6	0	0	2.6
Corporate | Asset impairment charges
Restructuring Cost and Reserve [Line Items]
Charges	0	0	0	0
Corporate | Contract termination and other associated costs
Restructuring Cost and Reserve [Line Items]
Charges	$ 2.4	$ 0	$ 0	$ 2.4

Restructuring and Other Simil_4

Restructuring and Other Similar Charges - Restructuring Reserve Rollforward (Details) - USD ($) $ in Millions	12 Months Ended			96 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Mar. 31, 2017	Mar. 31, 2019
Restructuring Reserve [Roll Forward]
Accrued Restructuring Costs, Beginning of Period	$ 2.6	$ 10.8
Charges	12.1	14.1	$ 26.1	$ 95.3
Cash payments	(10.1)	(21.5)
Non-cash charges	(0.3)	(0.8)
Accrued Restructuring Costs, End of Period	4.3	2.6	10.8	4.3
Employee termination benefits
Restructuring Reserve [Roll Forward]
Accrued Restructuring Costs, Beginning of Period	2.3	10.8
Charges	7.1	5.2	18	65.2
Cash payments	(7)	(13.7)
Non-cash charges	0	0
Accrued Restructuring Costs, End of Period	2.4	2.3	10.8	2.4
Asset impairment charges
Restructuring Reserve [Roll Forward]
Accrued Restructuring Costs, Beginning of Period	0	0
Charges	0.3	0.8
Cash payments	0	0
Non-cash charges	(0.3)	(0.8)
Accrued Restructuring Costs, End of Period	0	0	0	0
Contract termination and other associated costs
Restructuring Reserve [Roll Forward]
Accrued Restructuring Costs, Beginning of Period	0.3	0
Charges	4.7	8.1	6.6	26.5
Cash payments	(3.1)	(7.8)
Non-cash charges	0	0
Accrued Restructuring Costs, End of Period	$ 1.9	$ 0.3	$ 0	$ 1.9

Revenue Recognition - Narrative

Revenue Recognition - Narrative (Details)	9 Months Ended	12 Months Ended
	Dec. 31, 2018USD ($)segment	Mar. 31, 2019USD ($)segment	Mar. 31, 2018USD ($)
Revenue from Contract with Customer [Abstract]
Number of business segments | segment	2	2
Performance obligations expected to be satisfied		$ 372,500,000	$ 329,900,000
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Impairment loss recognized	$ 0
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2019-04-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Percentage of remaining performance obligation		94.00%
Percentage of remaining performance obligation, expected timing		1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2020-04-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Percentage of remaining performance obligation		6.00%
Percentage of remaining performance obligation, expected timing		1 year

Revenue Recognition - Revenue D

Revenue Recognition - Revenue Disaggregated by Customer Type (Details) - USD ($) $ in Millions	3 Months Ended								12 Months Ended
	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2019	Mar. 31, 2018	Mar. 31, 2017
Disaggregation of Revenue [Line Items]
Total	$ 537.5	$ 485	$ 524.8	$ 503.6	$ 517.9	$ 436.7	$ 453.8	$ 443.2	$ 2,050.9	$ 1,851.6	$ 1,712.5
Process & Motion Control
Disaggregation of Revenue [Line Items]
Total									1,380.6	1,241.2	1,134.7
Process & Motion Control | Original equipment manufacturers/ end-users
Disaggregation of Revenue [Line Items]
Total									768.5	690.5	594.6
Process & Motion Control | Maintenance, repair, and operations
Disaggregation of Revenue [Line Items]
Total									612.1	550.7	540.1
Water Management
Disaggregation of Revenue [Line Items]
Total									670.3	610.4	577.8
Water Management | Water safety, quality, flow control and conservation
Disaggregation of Revenue [Line Items]
Total									624.4	566.9	538.9
Water Management | Water infrastructure
Disaggregation of Revenue [Line Items]
Total									$ 45.9	$ 43.5	$ 38.9

Revenue Recognition - Revenue_2

Revenue Recognition - Revenue Disaggregated by Geography (Details) - USD ($) $ in Millions	3 Months Ended								12 Months Ended
	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2019	Mar. 31, 2018	Mar. 31, 2017
Disaggregation of Revenue [Line Items]
Total	$ 537.5	$ 485	$ 524.8	$ 503.6	$ 517.9	$ 436.7	$ 453.8	$ 443.2	$ 2,050.9	$ 1,851.6	$ 1,712.5
Process & Motion Control
Disaggregation of Revenue [Line Items]
Total									1,380.6	1,241.2	1,134.7
Process & Motion Control | United States and Canada
Disaggregation of Revenue [Line Items]
Total									898.7	848.3	795
Process & Motion Control | Europe
Disaggregation of Revenue [Line Items]
Total									327.5	255.5	218.9
Process & Motion Control | Rest of world
Disaggregation of Revenue [Line Items]
Total									154.4	137.4	120.8
Water Management
Disaggregation of Revenue [Line Items]
Total									670.3	610.4	577.8
Water Management | United States and Canada
Disaggregation of Revenue [Line Items]
Total									654.5	598.4	568.2
Water Management | Europe
Disaggregation of Revenue [Line Items]
Total									0	0	0
Water Management | Rest of world
Disaggregation of Revenue [Line Items]
Total									$ 15.8	$ 12	$ 9.6

Revenue Recognition - Change in

Revenue Recognition - Change in Contract with Customer, Asset and Liability (Details) $ in Millions	12 Months Ended
	Mar. 31, 2019USD ($)
Contract Assets
Contract assets, beginning balance	$ 0.7
Contract assets, additions	3.7
Contract assets, deductions	(1.8)
Contract assets, ending balance	2.6
Contract Liabilities
Contract liabilities, beginning balance	3.2
Contract liabilities, additions	15.3
Contract liabilities, deductions	(13.4)
Contract liabilities, ending balance	$ 5.1

Inventories - By Category (Deta

Inventories - By Category (Details) - USD ($) $ in Millions	Mar. 31, 2019	Mar. 31, 2018
Inventory Disclosure [Abstract]
Finished goods	$ 147.3	$ 134.2
Work in progress	39.8	35.2
Purchased components	76.7	76
Raw materials	53.9	53.2
Inventories at First-in, First-Out (FIFO) cost	317.7	298.6
Adjustment to state inventories at Last-in, First-Out (LIFO) cost	(1.2)	5.5
Inventories, net	$ 316.5	$ 304.1

Property, Plant and Equipment -

Property, Plant and Equipment - Schedule of Property, Plant and Equipment (Details) - USD ($) $ in Millions	Mar. 31, 2019	Mar. 31, 2018
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 696.4	$ 729.2
Less accumulated depreciation	(313.4)	(332.7)
Property, plant and equipment, net	383	396.5
Land
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	25.7	30.6
Buildings and improvements
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	227.5	229.9
Machinery and equipment
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	350.9	370.5
Hardware and software
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	64.4	62.6
Construction in-progress
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 27.9	$ 35.6

Goodwill and Intangible Asset_2

Goodwill and Intangible Assets - Schedule of Changes (Details) - USD ($) $ in Millions	12 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Goodwill [Roll Forward]
Net carrying amount, beginning of period	$ 1,276.1	$ 1,216.5
Acquisitions	21.3	55.2
Purchase accounting adjustments	8.3
Currency translation adjustment and other	(6)	4.4
Net carrying amount, end of period	1,299.7	1,276.1
Operating Segments | Process & Motion Control
Goodwill [Roll Forward]
Net carrying amount, beginning of period	1,102.5	1,068.8
Acquisitions	20.1	29.5
Purchase accounting adjustments	8.1
Currency translation adjustment and other	(5.5)	4.2
Net carrying amount, end of period	1,125.2	1,102.5
Operating Segments | Water Management
Goodwill [Roll Forward]
Net carrying amount, beginning of period	173.6	147.7
Acquisitions	1.2	25.7
Purchase accounting adjustments	0.2
Currency translation adjustment and other	(0.5)	0.2
Net carrying amount, end of period	$ 174.5	$ 173.6

Goodwill and Intangible Asset_3

Goodwill and Intangible Assets - Narrative (Details) - USD ($)	3 Months Ended	12 Months Ended
	Dec. 31, 2018	Mar. 31, 2019	Mar. 31, 2018	Mar. 31, 2017
Finite-Lived Intangible Assets [Line Items]
Cumulative goodwill impairment charges		$ 434,600,000	$ 434,600,000
Amortization of intangible assets		34,000,000	$ 32,200,000	$ 41,000,000
Future amortization expense
Expected amortization expense, 2020		34,600,000
Expected amortization expense, 2021		33,500,000
Expected amortization expense, 2022		29,200,000
Expected amortization expense, 2023		14,900,000
Expected amortization expense, 2024		$ 14,100,000
Goodwill and intangible asset impairment	$ 0
Patents
Finite-Lived Intangible Assets [Line Items]
Weighted-average useful life of intangible assets acquired			14 years
Tradenames
Finite-Lived Intangible Assets [Line Items]
Weighted-average useful life of intangible assets acquired		15 years	14 years
Customer relationships (including distribution network)
Finite-Lived Intangible Assets [Line Items]
Weighted-average useful life of intangible assets acquired		18 years	15 years

Goodwill and Intangible Asset_4

Goodwill and Intangible Assets - Gross Carrying Amount and Accumulated Amortization (Details) - USD ($) $ in Millions	12 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Intangible assets subject to amortization:
Weighted Average Useful Life	13 years	13 years
Accumulated Amortization	$ (574.2)	$ (541.7)
Intangible assets not subject to amortization - trademarks and tradenames
Gross Carrying Amount	1,085.7	1,072.6
Net Carrying Amount	$ 511.5	$ 530.9
Patents
Intangible assets subject to amortization:
Weighted Average Useful Life	10 years	10 years
Gross Carrying Amount	$ 50.9	$ 51.3
Accumulated Amortization	(39.8)	(38.4)
Net Carrying Amount	$ 11.1	$ 12.9
Customer relationships (including distribution network)
Intangible assets subject to amortization:
Weighted Average Useful Life	13 years	13 years
Gross Carrying Amount	$ 713.5	$ 700.3
Accumulated Amortization	(523.1)	(494.8)
Net Carrying Amount	$ 190.4	$ 205.5
Tradenames
Intangible assets subject to amortization:
Weighted Average Useful Life	13 years	13 years
Gross Carrying Amount	$ 40.4	$ 40.1
Accumulated Amortization	(11.3)	(8.5)
Net Carrying Amount	29.1	31.6
Intangible assets not subject to amortization - trademarks and tradenames
Intangible assets not subject to amortization - trademarks and tradenames	$ 280.9	$ 280.9

Other Current Liabilities - Sch

Other Current Liabilities - Schedule of Other Current Liabilities (Details) - USD ($) $ in Millions	Mar. 31, 2019	Mar. 31, 2018
Components of Other Current Liabilities [Line Items]
Other current liabilities	$ 137.1	$ 127.4
Contract liabilities
Components of Other Current Liabilities [Line Items]
Other current liabilities	5.1	3.2
Sales rebates
Components of Other Current Liabilities [Line Items]
Other current liabilities	35.3	26.8
Commissions
Components of Other Current Liabilities [Line Items]
Other current liabilities	6.8	6.1
Restructuring and other similar charges
Components of Other Current Liabilities [Line Items]
Other current liabilities	4.3	2.6
Product warranty
Components of Other Current Liabilities [Line Items]
Other current liabilities	7.2	7.7
Risk management
Components of Other Current Liabilities [Line Items]
Other current liabilities	10.5	10.1
Legal and environmental
Components of Other Current Liabilities [Line Items]
Other current liabilities	2.6	3.4
Taxes, other than income taxes
Components of Other Current Liabilities [Line Items]
Other current liabilities	7.8	8
Income taxes payable
Components of Other Current Liabilities [Line Items]
Other current liabilities	20.3	19.4
Interest payable
Components of Other Current Liabilities [Line Items]
Other current liabilities	7.7	8.7
Other
Components of Other Current Liabilities [Line Items]
Other current liabilities	$ 29.5	$ 31.4

Long-Term Debt - Summary of Deb

Long-Term Debt - Summary of Debt (Details) - USD ($) $ in Millions	Mar. 31, 2019	Mar. 31, 2018	Dec. 07, 2017
Debt Instrument [Line Items]
Total	$ 1,238	$ 1,356
Less current maturities	1.2	3.9
Long-term debt	1,236.8	1,352.1
Term loans | Credit Facility
Debt Instrument [Line Items]
Total	718.4	791.5
Term loans | Senior notes
Debt Instrument [Line Items]
Unamortized original issue discount	6.6	8.5
4.875% Senior notes due 2025 | Senior notes
Debt Instrument [Line Items]
Total	495	494.2
Unamortized original issue discount	$ 5	5.8
Interest rate	4.875%		4.875%
Securitization facility borrowings | Other
Debt Instrument [Line Items]
Total	$ 0	18.3
Unamortized original issue discount	0.5
Other subsidiary debt | Other
Debt Instrument [Line Items]
Total	24.6	$ 52
Unamortized original issue discount	$ 0.5

Long-Term Debt - Narrative (Det

Long-Term Debt - Narrative (Details)	Jan. 09, 2019USD ($)	Jul. 31, 2018Rate	Dec. 07, 2017USD ($)Rate	Dec. 31, 2015USD ($)plant	Aug. 31, 2018Rate	Mar. 31, 2019USD ($)Rate	Mar. 31, 2018USD ($)	Mar. 31, 2017USD ($)	Dec. 31, 2016USD ($)	Mar. 31, 2018USD ($)
Debt Instrument [Line Items]
Proceeds from borrowings of debt						$ 270,800,000	$ 1,529,800,000	$ 1,606,400,000
Gain (loss) on the extinguishment of debt						4,300,000	(11,900,000)	(7,800,000)
Amortization of deferred financing costs						1,500,000	1,900,000	2,400,000
Direct costs						11,600,000
Long-term debt, gross						$ 1,249,600,000
Line of credit facility, unused capacity, daily aggregate commitment threshold of outstanding principal (less than) | Rate						50.00%
Outstanding principal						$ 1,238,000,000	1,356,000,000			$ 1,356,000,000
Cash interest paid						$ 63,800,000	69,900,000	84,900,000
Manufacturing Facility | North America
Debt Instrument [Line Items]
Number of plants | plant				2
London Interbank Offered Rate (LIBOR)
Debt Instrument [Line Items]
Basis spread on variable rate | Rate						1.20%
Maximum
Debt Instrument [Line Items]
Unused capacity, commitment fee percentage						0.50%
Minimum
Debt Instrument [Line Items]
Unused capacity, commitment fee percentage | Rate						0.375%
Other
Debt Instrument [Line Items]
Long-term debt, gross						$ 10,600,000	33,900,000			33,900,000
Term Refinancing Loan Facility | Term loans
Debt Instrument [Line Items]
Maximum borrowing capacity			$ 1,606,400,000			800,000,000
Basis spread on variable rate | Rate		2.25%			2.00%
Gain (loss) on the extinguishment of debt							(8,000,000)
Revolving Credit Facility | Term loans
Debt Instrument [Line Items]
Maximum borrowing capacity						$ 264,000,000	264,000,000	$ 265,000,000		264,000,000
Covenant terms, company's ratio						2.2
Unused capacity, commitment fee percentage | Rate						0.50%
Long-term debt, gross						$ 0	0			0
Outstanding letters of credit						$ 5,600,000	8,300,000			8,300,000
Credit Facility | Term loans
Debt Instrument [Line Items]
Covenant terms, company's ratio | Rate						220.00%
Long-term debt, voluntary prepayment	$ 75,000,000
Loss on debt extinguishment to write off a portion of the unamortized debt issuance costs	$ 700,000
Outstanding principal						$ 718,400,000	791,500,000			$ 791,500,000
Credit Facility | Term loans | Senior Secured Leverage Ratio (Numerator) | Maximum
Debt Instrument [Line Items]
Covenant terms, positive ratio						6.75
Amended Term Refinancing Loan Facility | Term loans
Debt Instrument [Line Items]
Maximum borrowing capacity			$ 800,000,000
LIBOR Floor, Scenario One			0.00%
LIBOR Floor, Scenario Two | Rate			0.00%
Weighted-average effective interest rate | Rate						4.49%
Weighted average effective interest rate, over time										4.30%
Gain (loss) on the extinguishment of debt							(11,900,000)
Amortization of deferred financing costs							3,900,000
Direct costs							800,000			$ 800,000
Amended Term Refinancing Loan Facility | Term loans | London Interbank Offered Rate (LIBOR), Scenario One
Debt Instrument [Line Items]
Basis spread on variable rate | Rate			2.25%
Amended Term Refinancing Loan Facility | Term loans | Base Rate, Scenario One
Debt Instrument [Line Items]
Basis spread on variable rate | Rate			1.25%
Amended Term Refinancing Loan Facility | Term loans | London Interbank Offered Rate (LIBOR), Scenario Two
Debt Instrument [Line Items]
Basis spread on variable rate | Rate			2.00%
Amended Term Refinancing Loan Facility | Term loans | Base Rate, Scenario Two
Debt Instrument [Line Items]
Basis spread on variable rate | Rate			1.00%
Senior notes | Term loans
Debt Instrument [Line Items]
Unamortized original issue discount						$ 6,600,000	8,500,000			8,500,000
Senior notes | 4.875% Senior notes due 2025
Debt Instrument [Line Items]
Proceeds from borrowings of debt			$ 500,000,000
Direct costs						$ 6,000,000	6,000,000			6,000,000
Interest rate | Rate			4.875%			4.875%
Redemption price, percentage | Rate			40.00%
Percentage of principal amount redeemed | Rate			101.00%
Restricted subsidiaries, amount			$ 50,000,000
Unamortized original issue discount						$ 5,000,000	5,800,000			5,800,000
Outstanding principal						$ 495,000,000	494,200,000			494,200,000
Amended Credit Facility | Term loans | Senior Secured Leverage Ratio (Numerator) | Maximum
Debt Instrument [Line Items]
Transaction related costs							200,000			200,000
Term Loan Facility | Term loans
Debt Instrument [Line Items]
Positive ratio						1.5
Term Loan Facility | Term loans | ABR Borrowings
Debt Instrument [Line Items]
Basis spread on variable rate | Rate						2.00%
Term Loan Facility | Term loans | Eurocurrency Borrowings
Debt Instrument [Line Items]
Basis spread on variable rate | Rate						3.00%
Other | Accounts Receivable Securitization Program
Debt Instrument [Line Items]
Maximum borrowing capacity						$ 100,000,000
Long-term debt, gross						0	18,800,000			18,800,000
Outstanding letters of credit						7,100,000	7,900,000			7,900,000
Remaining borrowing capacity						100,000,000
Unamortized original issue discount						500,000
Outstanding principal						0	18,300,000			18,300,000
Other | New Market Tax Credit- Phase 2
Debt Instrument [Line Items]
Proceeds from borrowings of long-term debt				$ 9,800,000
Other | New Market Tax Credit
Debt Instrument [Line Items]
Gain (loss) on the extinguishment of debt						5,000,000
Payments to acquire loans receivable									$ 27,600,000
Loan receivable, terms									30 years
Loan receivable, stated percentage									2.00%
Forgiven associated loans						23,400,000
Related loans receivable forgiven						17,900,000
Unamortized original issue discount						500,000
Outstanding principal						14,000,000
Loans receivables						9,700,000
Other | Other
Debt Instrument [Line Items]
Unamortized original issue discount						500,000
Outstanding principal						$ 24,600,000	$ 52,000,000			$ 52,000,000

Long-Term Debt - Future Debt Ma

Long-Term Debt - Future Debt Maturities (Details) $ in Millions	Mar. 31, 2019USD ($)
Debt Disclosure [Abstract]
Debt issuance costs	$ 11.6
Years ending March 31:
2020	1.2
2021	4.8
2022	1
2023	1
2024	1
Thereafter	1,240.6
Long-term debt, gross	$ 1,249.6

Derivative Financial Instrume_3

Derivative Financial Instruments - Narrative (Details) $ in Millions	12 Months Ended
	Mar. 31, 2019USD ($)derivative	Mar. 31, 2018USD ($)	Mar. 31, 2017USD ($)
Interest rate swap
Derivatives, Fair Value [Line Items]
Number of interest rate derivatives held | derivative	3
Accumulated Net Gain (Loss) from Cash Flow Hedges Including Portion Attributable to Noncontrolling Interest | Reclassification out of Accumulated Other Comprehensive Income | Interest Rate Contract
Derivatives, Fair Value [Line Items]
Amount reclassified from accumulated other comprehensive loss into earnings | $	$ 5.7	$ 9.7	$ 10.2

Derivative Financial Instrume_4

Derivative Financial Instruments - Fair Value of Derivative Instruments (Details) - Level 2 - Fair Value, Measurements, Recurring - Not designated as hedging instrument - USD ($) $ in Millions	Mar. 31, 2019	Mar. 31, 2018
Other current assets | Foreign currency forward contracts
Derivative [Line Items]
Asset Derivatives	$ 0	$ 0.5
Other current liabilities | Interest rate derivatives
Derivative [Line Items]
Liability Derivatives	$ 0	$ 0.8

Derivative Financial Instrume_5

Derivative Financial Instruments - Gain/Loss in AOCI (Details) - USD ($) $ in Millions	Mar. 31, 2019	Mar. 31, 2018
Interest rate derivatives | Designated as hedging instruments
Accumulated Other Comprehensive Income (Loss) [Line Items]
Amount of (gain) loss recognized in accumulated other comprehensive loss	$ (0.8)	$ 3.7

Derivative Financial Instrume_6

Derivative Financial Instruments - Gain or Loss Recognized in Income (Details) - USD ($) $ in Millions	12 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Mar. 31, 2017
Interest expense, net | Interest rate derivatives
Trading Activity, Gains and Losses, Net [Line Items]
Amount recognized as (income) expense	$ (0.8)	$ (5)	$ 0
Foreign currency forward contracts | Other expense (income), net
Trading Activity, Gains and Losses, Net [Line Items]
Amount recognized as (income) expense	$ 0.2	$ 0	$ (0.5)

Fair Value Measurements - Liabi

Fair Value Measurements - Liabilities Recognized at Fair Value on a Recurring Basis (Details) - Fair Value, Measurements, Recurring $ in Millions	Mar. 31, 2018USD ($)
Assets:
Total assets at fair value	$ 0.5
Liabilities:
Total liabilities at fair value	0.8
Interest rate derivatives
Liabilities:
Interest rate swaps	0.8
Foreign currency forward contracts
Assets:
Foreign currency forward contracts	0.5
Level 1
Assets:
Total assets at fair value	0
Liabilities:
Total liabilities at fair value	0
Level 1 | Interest rate derivatives
Liabilities:
Interest rate swaps	0
Level 1 | Foreign currency forward contracts
Assets:
Foreign currency forward contracts	0
Level 2
Assets:
Total assets at fair value	0.5
Liabilities:
Total liabilities at fair value	0.8
Level 2 | Interest rate derivatives
Liabilities:
Interest rate swaps	0.8
Level 2 | Foreign currency forward contracts
Assets:
Foreign currency forward contracts	0.5
Level 3
Assets:
Total assets at fair value	0
Liabilities:
Total liabilities at fair value	0
Level 3 | Interest rate derivatives
Liabilities:
Interest rate swaps	0
Level 3 | Foreign currency forward contracts
Assets:
Foreign currency forward contracts	$ 0

Fair Value Measurements - Narra

Fair Value Measurements - Narrative (Details) - USD ($) $ in Millions	Mar. 31, 2019	Mar. 31, 2018
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of long-term debt	$ 1,238.1	$ 1,361.8
Property, plant and equipment, net	383	$ 396.5
Facility Closing
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Property, plant and equipment, net	$ 5.6

Leases - Narrative and Schedule

Leases - Narrative and Schedule of Future Payments (Details) - USD ($) $ in Millions	12 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Mar. 31, 2017
Leases [Abstract]
Rent expense	$ 18.3	$ 18.9	$ 17.6
Years ending March 31:
2020	14.6
2021	11.8
2022	9.6
2023	8.7
2024	6.4
Thereafter	56.3
Future minimum rental payments	$ 107.4

Stock-Based Compensation - Narr

Stock-Based Compensation - Narrative (Details) - USD ($)	May 18, 2016	May 21, 2015	Mar. 31, 2019	Mar. 31, 2018	Mar. 31, 2017	Jul. 31, 2014	Mar. 31, 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense			$ 22,600,000	$ 20,000,000	$ 13,100,000
Tax benefit on stock-based compensation			5,200,000	6,500,000	4,700,000
Excess tax benefit related to stock options exercised			1,900,000	$ 1,300,000	$ 8,300,000
Unrecognized compensation cost			$ 19,500,000				$ 19,500,000
Unrecognized compensation cost, weighted-average period of recognition			1 year 8 months 22 days
Expected dividends			$ 0
Weighted-average grant date fair value (in dollars per share)			$ 10.59	$ 8.12	$ 6.41
Fair value of options vested			$ 12,300,000	$ 16,000,000	$ 5,800,000
Performance Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period			3 years	3 years	3 years
Performance Shares | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting rights, percentage			0.00%	0.00%	0.00%
Performance Shares | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting rights, percentage			200.00%	200.00%	200.00%
Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award maximum term	10 years
Percentage vesting after three years						50.00%
Vesting period		4 years
Percentage vesting after five years						50.00%
Shares authorized to be granted (in shares)	12,150,000
50% Vest After Three Years | Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period						3 years
50% Vest After Five Years | Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period						5 years
Options Granted to Directors | Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period			3 years				3 years

Stock-Based Compensation - Fair

Stock-Based Compensation - Fair Value Options Granted (Details) - Stock Options	12 Months Ended
	Mar. 31, 2019Rate	Mar. 31, 2018Rate	Mar. 31, 2017Rate
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected option term (in years)	6 years 6 months	6 years 6 months	6 years 6 months
Expected volatility factor	30.00%	31.00%	29.00%
Weighted-average risk free interest rate	2.85%	1.99%	1.58%
Expected dividend rate	0.00%	0.00%	0.00%

Stock-Based Compensation - Stoc

Stock-Based Compensation - Stock Options (Details) - USD ($) $ / shares in Units, $ in Millions	12 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Mar. 31, 2017
Shares
Outstanding at beginning of period (in shares)	8,117,947	7,770,670	7,854,685
Granted (in shares)	564,666	1,176,205	2,602,014
Exercised (in shares)	(642,953)	(543,443)	(2,116,571)
Canceled/Forfeited (in shares)	(195,749)	(285,485)	(569,458)
Outstanding at end of period (in shares)	7,843,911	8,117,947	7,770,670
Exercisable at end of period (in shares)	5,833,565	4,810,737	3,221,622
Weighted Avg. Exercise Price
Outstanding at beginning of period (in dollars per share)	$ 19.50	$ 18.73	$ 15.10
Granted (in dollars per share)	28.88	23.17	19.72
Exercised (in dollars per share)	14.21	14.89	5.18
Canceled/Forfeited (in dollars per share)	23.95	22.55	23.34
Outstanding at end of period (in dollars per share)	20.49	19.50	18.73
Exercisable at end of period (in dollars per share)	$ 19.42	$ 17.93	$ 15.25
Intrinsic value of options exercised	$ 9.9	$ 6.4	$ 29.1
Weighted average remaining contractual life of options outstanding	5 years 6 months 6 days	6 years 1 month 6 days	6 years 7 months 6 days
Aggregate intrinsic value of options outstanding	$ 41.2
Weighted average remaining contractual life of options exercisable	4 years 7 months 12 days	4 years 8 months 12 days	4 years 7 months 6 days
Aggregate intrinsic value of options exercisable	$ 36

Stock-Based Compensation - Nonv

Stock-Based Compensation - Nonvested Options (Details) - $ / shares	12 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Mar. 31, 2017
Shares
Nonvested options at beginning of period (in shares)	3,307,210
Granted (in shares)	564,666	1,176,205	2,602,014
Vested (in shares)	(1,706,123)
Canceled/Forfeited (in shares)	(155,407)
Nonvested options at end of period (in shares)	2,010,346	3,307,210
Weighted Avg. Exercise Price
Nonvested options at beginning of period (in dollars per share)	$ 21.77
Granted (in dollars per share)	28.88	$ 23.17	$ 19.72
Vested (in dollars per share)	21.78
Canceled/Forfeited (in dollars per share)	23.71
Nonvested options at end of period (in dollars per share)	$ 23.61	$ 21.77

Stock-Based Compensation - No_2

Stock-Based Compensation - Nonvested Stock Unit Activity (Details) - $ / shares	12 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Mar. 31, 2017
Restricted Stock Units (RSUs)
Units
Nonvested units at beginning of period (in shares)	368,182	322,142	125,307
Granted (in shares)	300,119	250,013	279,445
Vested (in shares)	(149,531)	(150,784)	(48,207)
Canceled/Forfeited (in shares)	(101,423)	(53,189)	(34,403)
Nonvested units at end of period (in shares)	417,347	368,182	322,142
Weighted Avg. Grant Date Fair Value
Nonvested units at beginning of period (in dollars per share)	$ 21.55	$ 20.59	$ 24.67
Granted (in dollars per share)	28.87	23.19	19.53
Vested (in dollars per share)	24.30	21.92	24.01
Canceled/Forfeited (in dollars per share)	21.10	22.41	22
Nonvested units at end of period (in dollars per share)	$ 25.94	$ 21.55	$ 20.59
Performance Shares
Units
Nonvested units at beginning of period (in shares)	453,001	259,930	49,136
Granted (in shares)	183,069	193,071	219,266
Vested (in shares)	(217,319)	0	0
Canceled/Forfeited (in shares)	(67,647)	0	(8,472)
Nonvested units at end of period (in shares)	351,104	453,001	259,930
Weighted Avg. Grant Date Fair Value
Nonvested units at beginning of period (in dollars per share)	$ 25.53	$ 24.74	$ 28.57
Granted (in dollars per share)	28.91	26.58	23.95
Vested (in dollars per share)	23.89	0	0
Canceled/Forfeited (in dollars per share)	28.37	0	25.90
Nonvested units at end of period (in dollars per share)	$ 27.76	$ 25.53	$ 24.74

Stock-Based Compensation - Fa_2

Stock-Based Compensation - Fair Value PSUs (Details) - Performance Shares - $ / shares	12 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected volatility factor	31.00%	30.00%
Weighted-average risk-free interest rate	1.45%	0.86%
Expected dividend rate	0.00%	0.00%
PSU fair value per share (in dollars per share)	$ 31.25	$ 27.67

Retirement Benefits - Narrative

Retirement Benefits - Narrative (Details)	12 Months Ended
	Mar. 31, 2019USD ($)categoryRate	Mar. 31, 2018USD ($)	Mar. 31, 2017USD ($)	Dec. 31, 2017plan
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Actuarial gains	$ 400,000	$ 3,300,000	$ 2,600,000
Number of plans | plan				3
Contributions	1,300,000	2,900,000	4,900,000
Plan assets	480,200,000	507,400,000
Multi-employer and government-sponsored plans - Expense recognized			200,000
Defined contribution savings plan - expense recognized	15,500,000	15,000,000	12,400,000
Pension Benefits
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Actuarial gains	(1,700,000)	(7,100,000)
Contributions	4,000,000	5,500,000
Projected benefit obligation	623,800,000	652,500,000	659,300,000
Plan assets	480,200,000	507,400,000	513,000,000
Under-funded status	143,600,000	145,100,000
Future amortization of prior service cost (credit)	$ 0
Number of investment categories | category	2
Pension plans that are not fully funded - projected benefit obligation	$ 591,000,000	618,600,000
Pension plans that are not fully funded - accumulated benefit obligation	586,500,000	613,600,000
Pension plans that are not fully funded - fair value of plan assets	446,800,000	472,800,000
Other Postretirement Benefits
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Actuarial gains	(2,500,000)	(2,800,000)
Contributions	2,500,000	3,000,000
Projected benefit obligation	16,900,000	21,500,000	25,700,000
Plan assets	0	0	$ 0
Under-funded status	16,900,000	$ 21,500,000
Future amortization of prior service cost (credit)	$ (300,000)
Assumed health care cost trend rate, percent | Rate	6.30%
Ultimate health care cost trend rate, percent | Rate	5.00%

Retirement Benefits - Pension a

Retirement Benefits - Pension and Other Postretirement Benefits (Details) $ in Millions	3 Months Ended	12 Months Ended
	Mar. 31, 2019USD ($)	Mar. 31, 2019USD ($)	Mar. 31, 2018USD ($)	Mar. 31, 2017USD ($)facility
Pension Benefits
Pension and Other Postretirement Benefits:
Service cost		$ 0.5	$ 1	$ 1.8
Interest cost		23.6	24.3	25.6
Expected return on plan assets		(24.8)	(26.7)	(27.1)
Amortization of:
Prior service cost		0	0	0.1
Benefit cost (income) associated with special events:
Curtailment		0	(0.3)	(1.4)
Contractual termination benefits		0	0	2.2
Settlement	$ 0.6	0.6	0	0
Recognition of actuarial losses (gains)		0.7	(1.1)	0
Net periodic benefit cost (income)		0.6	(2.8)	1.2
Non-cash net curtailment gain			0.3	1
Contractual termination benefits		0	0	$ 2.2
Number of manufacturing facilities closed | facility				1
Pension Benefits | Facility Closing
Benefit cost (income) associated with special events:
Curtailment				$ 0.4
Postretirement Benefits
Pension and Other Postretirement Benefits:
Service cost		0	0	0.1
Interest cost		0.8	1	1.1
Amortization of:
Prior service cost		(1.5)	(1.9)	(2)
Benefit cost (income) associated with special events:
Curtailment		0	0	0.4
Recognition of actuarial losses (gains)		(1.7)	(1.9)	(1.6)
Net periodic benefit cost (income)		$ (2.4)	$ (2.8)	$ (2)

Retirement Benefits - Status of

Retirement Benefits - Status of Plans (Details) - USD ($) $ in Millions	12 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Mar. 31, 2017
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Actuarial gains	$ (0.4)	$ (3.3)	$ (2.6)
Plan assets at the beginning of the period	507.4
Contributions	1.3	2.9	4.9
Plan assets at end of period	480.2	507.4
Net amount on Consolidated Balance Sheets consists of:
Current liabilities	(3.3)	(4)
Long-term liabilities	(158)	(163.2)
Pension Benefits
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Benefit obligation at beginning of period	(652.5)	(659.3)
Service cost	(0.5)	(1)	(1.8)
Interest cost	(23.6)	(24.3)	(25.6)
Actuarial gains	1.7	7.1
Benefits paid	40.7	40.8
Plan participant contributions	0	(0.1)
Acquisitions	0	(6.3)
Curtailments	0	0.3
Settlements	3.2	0
Translation and other adjustments	7.2	(9.7)
Benefit obligation at end of period	(623.8)	(652.5)	(659.3)
Plan assets at the beginning of the period	507.4	513
Actual return on plan assets	15.8	23.6
Contributions	4	5.5
Benefits paid	(40.7)	(40.8)
Acquisition	0	2.3
Settlements	(3.4)	0
Translation adjustment	(2.9)	3.8
Plan assets at end of period	480.2	507.4	513
Funded status of plans	(143.6)	(145.1)
Net amount on Consolidated Balance Sheets consists of:
Non-current assets	0.8	0.6
Current liabilities	(1.7)	(1.9)
Long-term liabilities	(142.7)	(143.8)
Total net funded status	(143.6)	(145.1)
Postretirement Benefits
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Benefit obligation at beginning of period	(21.5)	(25.7)
Service cost	0	0	(0.1)
Interest cost	(0.8)	(1)	(1.1)
Actuarial gains	2.5	2.8
Benefits paid	1.9	3
Plan participant contributions	(0.5)	(0.6)
Acquisitions	0	0
Curtailments	0	0
Settlements	0	0
Translation and other adjustments	1.5	0
Benefit obligation at end of period	(16.9)	(21.5)	(25.7)
Plan assets at the beginning of the period	0	0
Actual return on plan assets	0	0
Contributions	2.5	3
Benefits paid	(2.5)	(3)
Acquisition	0	0
Settlements	0	0
Translation adjustment	0	0
Plan assets at end of period	0	0	$ 0
Funded status of plans	(16.9)	(21.5)
Net amount on Consolidated Balance Sheets consists of:
Non-current assets	0	0
Current liabilities	(1.6)	(2.1)
Long-term liabilities	(15.3)	(19.4)
Total net funded status	$ (16.9)	$ (21.5)

Retirement Benefits - Accumulat

Retirement Benefits - Accumulated Other Comprehensive Income (Details) - USD ($) $ in Millions	Mar. 31, 2019	Mar. 31, 2018
Defined Benefit Plan Disclosure [Line Items]
Unrecognized prior service credit	$ (1.5)	$ (1.4)
Unrecognized actuarial loss (gain)	50.9	44.5
Accumulated other comprehensive loss (income), gross	49.4	43.1
Deferred income tax (benefit) provision	(12.1)	(14.9)
Accumulated other comprehensive loss (income), net	37.3	28.2
Pension Benefits
Defined Benefit Plan Disclosure [Line Items]
Unrecognized prior service credit	(0.1)	(0.2)
Unrecognized actuarial loss (gain)	52.6	46.2
Accumulated other comprehensive loss (income), gross	52.5	46
Deferred income tax (benefit) provision	(12.9)	(15.9)
Accumulated other comprehensive loss (income), net	39.6	30.1
Postretirement Benefits
Defined Benefit Plan Disclosure [Line Items]
Unrecognized prior service credit	(1.4)	(1.2)
Unrecognized actuarial loss (gain)	(1.7)	(1.7)
Accumulated other comprehensive loss (income), gross	(3.1)	(2.9)
Deferred income tax (benefit) provision	0.8	1
Accumulated other comprehensive loss (income), net	$ (2.3)	$ (1.9)

Retirement Benefits - Significa

Retirement Benefits - Significant Assumptions (Details)	12 Months Ended
	Mar. 31, 2019Rate	Mar. 31, 2018Rate	Mar. 31, 2017Rate
Pension Benefits
Benefit Obligations:
Discount rate	3.70%	3.70%	3.90%
Rate of compensation increase	2.90%	2.90%	3.00%
Net Periodic Benefit Cost:
Discount rate	3.70%	3.90%	3.80%
Rate of compensation increase	2.90%	3.00%	3.00%
Expected return on plan assets	5.10%	5.30%	5.30%
Postretirement Benefits
Benefit Obligations:
Discount rate	3.90%	4.00%	4.00%
Net Periodic Benefit Cost:
Discount rate	4.00%	4.00%	3.90%

Retirement Benefits - Target In

Retirement Benefits - Target Investment Allocations (Details)	12 Months Ended
	Mar. 31, 2019Rate	Mar. 31, 2018Rate
Equity securities
Defined Benefit Plan Disclosure [Line Items]
Investment policy, minimum allocation	20.00%
Investment policy, maximum allocation	30.00%
Target Allocation	28.00%
Actual Allocation	26.00%	28.00%
Debt securities (including cash and cash equivalents)
Defined Benefit Plan Disclosure [Line Items]
Investment policy, minimum allocation	55.00%
Investment policy, maximum allocation	80.00%
Target Allocation	64.00%
Actual Allocation	64.00%	65.00%
Other
Defined Benefit Plan Disclosure [Line Items]
Investment policy, minimum allocation	0.00%
Investment policy, maximum allocation	10.00%
Target Allocation	9.00%
Actual Allocation	10.00%	7.00%

Retirement Benefits - Fair Valu

Retirement Benefits - Fair Value Measurements (Details) - USD ($) $ in Millions	Mar. 31, 2019	Mar. 31, 2018	Mar. 31, 2017
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	$ 480.2	$ 507.4
Alternative Investment	430.1	461.7
Level 1
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	20.2	15.5
Level 2
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
Level 3
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	29.9	30.2
Cash and cash equivalents
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	20.2	5.9
Alternative Investment	0	3.7
Cash and cash equivalents | Level 1
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	20.2	2.2
Cash and cash equivalents | Level 2
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
Cash and cash equivalents | Level 3
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets		0
Fixed income funds
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	304.6	328
Alternative Investment	304.6	317.3
Fixed income funds | Level 1
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	10.7
Fixed income funds | Level 2
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
Fixed income funds | Level 3
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
US equity funds
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	54.3	61.9
Alternative Investment	54.3	59.6
US equity funds | Level 1
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	2.3
US equity funds | Level 2
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
US equity funds | Level 3
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
International equity funds
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	33.4	35.9
Alternative Investment	33.4	35.6
International equity funds | Level 1
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0.3
International equity funds | Level 2
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
International equity funds | Level 3
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
Balanced funds
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	6.4	9.5
Alternative Investment	6.4	9.5
Balanced funds | Level 1
Defined Benefit Plan Disclosure [Line Items]
Alternative Investment	0	0
Balanced funds | Level 2
Defined Benefit Plan Disclosure [Line Items]
Alternative Investment	0	0
Balanced funds | Level 3
Defined Benefit Plan Disclosure [Line Items]
Alternative Investment	0	0
Alternative Investments
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	31.4	36
Alternative Investment	31.4	36
Alternative Investments | Level 1
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
Alternative Investments | Level 2
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
Alternative Investments | Level 3
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
Insurance contracts
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	29.9	30.2
Alternative Investment	0	0
Insurance contracts | Level 1
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
Insurance contracts | Level 2
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
Insurance contracts | Level 3
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	$ 29.9	$ 30.2	$ 23.9

Retirement Benefits - Changes i

Retirement Benefits - Changes in Fair Value of Level 3 Investments (Details) - USD ($) $ in Millions	12 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Plan assets at the beginning of the period	$ 507.4
Actual return on assets:
Plan assets at end of period	480.2	$ 507.4
Level 3
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Plan assets at the beginning of the period	30.2
Actual return on assets:
Plan assets at end of period	29.9	30.2
Insurance Contracts
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Plan assets at the beginning of the period	30.2
Actual return on assets:
Plan assets at end of period	29.9	30.2
Insurance Contracts | Level 3
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Plan assets at the beginning of the period	30.2	23.9
Actual return on assets:
Related to assets held at reporting date	(0.3)	3.9
Related to assets sold during the period	0	0
Related to assets acquired by acquisition		2.4
Purchases, sales, issuances and settlements	0	0
Plan assets at end of period	$ 29.9	$ 30.2

Retirement Benefits - Expected

Retirement Benefits - Expected Future Benefit Payments (Details) $ in Millions	Mar. 31, 2019USD ($)
Pension Benefits:
Defined Benefit Plan Disclosure [Line Items]
2020	$ 45.1
2021	39.8
2022	39.7
2023	39.5
2024	39.8
2025 - 2029	190.2
Other Postretirement Benefits:
Defined Benefit Plan Disclosure [Line Items]
2020	1.7
2021	1.6
2022	1.5
2023	1.4
2024	1.4
2025 - 2029	$ 5.8

Retirement Benefits - Assumed H

Retirement Benefits - Assumed Health Care Cost Trend (Details) - USD ($) $ in Millions	12 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Mar. 31, 2017
Retirement Benefits [Abstract]
One percentage point increase - Increase (decrease) in total of service and interest cost components	$ 0.1	$ 0.1	$ 0.1
One percentage point decrease - increase (decrease) in total of service and interest cost components	0	(0.1)	(0.1)
One percentage point increase - increase (decrease) in postretirement benefit obligation	1.2	1.5	2.1
One percentage point decrease - increase (decrease) in postretirement benefit obligation	$ (1)	$ (1.3)	$ (1.8)

Retirement Benefits - Deferred

Retirement Benefits - Deferred Compensation Plan (Details) - Supplemental Employee Retirement Plan - USD ($) $ in Millions	Mar. 31, 2019	Mar. 31, 2018
Defined Benefit Plan Disclosure [Line Items]
Plan assets	$ 6	$ 3.5
Plan liabilities	6.1	3.5
Level 1
Defined Benefit Plan Disclosure [Line Items]
Plan assets	2.3	1.6
Plan liabilities	6.1	3.5
Level 2
Defined Benefit Plan Disclosure [Line Items]
Plan assets	3.7	1.9
Plan liabilities	0	0
Level 3
Defined Benefit Plan Disclosure [Line Items]
Plan assets	0	0
Plan liabilities	0	0
Mutual Funds
Defined Benefit Plan Disclosure [Line Items]
Plan assets	2.3	1.6
Mutual Funds | Level 1
Defined Benefit Plan Disclosure [Line Items]
Plan assets	2.3	1.6
Mutual Funds | Level 2
Defined Benefit Plan Disclosure [Line Items]
Plan assets	0	0
Mutual Funds | Level 3
Defined Benefit Plan Disclosure [Line Items]
Plan assets	0	0
Corporate owned life insurance
Defined Benefit Plan Disclosure [Line Items]
Plan assets	3.7	1.9
Corporate owned life insurance | Level 1
Defined Benefit Plan Disclosure [Line Items]
Plan assets	0	0
Corporate owned life insurance | Level 2
Defined Benefit Plan Disclosure [Line Items]
Plan assets	3.7	1.9
Corporate owned life insurance | Level 3
Defined Benefit Plan Disclosure [Line Items]
Plan assets	$ 0	$ 0

Income Taxes - Narrative (Detai

Income Taxes - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		12 Months Ended
	Dec. 31, 2018	Sep. 30, 2018	Mar. 31, 2019	Mar. 31, 2018	Mar. 31, 2017
Operating Loss Carryforwards [Line Items]
Estimated net income tax benefit				$ 66.5
Net estimated income tax benefit associated with the remeasurement				66.5
Net effect to deferred taxes for U.S. Tax Reform				(65.9)
Reduction from net income tax benefit as a discrete item	$ 0.6		$ 1.2	1.1	$ 0.6
Tax benefit associated with the one-time repatriation tax				0.8
One-time repatriation tax, included in repatriated earnings from foreign subsidiaries				0.2
Foreign NOL carryforwards			33.6
Valuation allowance for foreign NOL carryforward			2.6
Undistributed earnings of foreign subsidiaries			162.9
Undistributed earnings of foreign subsidiaries, potential related taxes			5.3
Other liabilities			17	1.9
Net cash paid for income taxes			64.7	59.4	35.7
Liability for unrecognized tax benefits			21.8	20.1
Unrecognized tax benefits, income tax penalties and interest accrued			4.3	5.7
Unrecognized tax benefits, income tax penalties and interest expense (benefit)			(1)	1	$ 0.6
Other Current Liabilities
Operating Loss Carryforwards [Line Items]
Accrued income taxes, current			20.3	19.4
Other Current Assets
Operating Loss Carryforwards [Line Items]
Income taxes receivable			3.3	$ 17.5
State Tax Authority
Operating Loss Carryforwards [Line Items]
State tax net operating loss carryforwards			476.7
State tax net operating loss carryforwards, valuation allowance			$ 17.1
Domestic Tax Authority | Internal Revenue Service (IRS)
Operating Loss Carryforwards [Line Items]
Income tax examination, penalties and interest expense		$ 0.4

Income Taxes - Income Tax Provi

Income Taxes - Income Tax Provision (Benefit) (Details) - USD ($) $ in Millions	12 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Mar. 31, 2017
Current:
United States	$ 55.7	$ 29.9	$ 18.9
Non-United States	21.6	23.1	16
State and local	8	4.1	2.5
Total current	85.3	57.1	37.4
Deferred:
United States	(23)	(71.5)	(19.1)
Non-United States	(5.2)	(3.1)	(0.9)
State and local	(3.7)	(2)	(1.8)
Total deferred	(31.9)	(76.6)	(21.8)
Provision (benefit) for income taxes	$ 53.4	$ (19.5)	$ 15.6

Income Taxes - U.S. Statutory I

Income Taxes - U.S. Statutory Income Tax Rate Reconciliation (Details) - USD ($) $ in Millions	3 Months Ended		12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Mar. 31, 2019	Mar. 31, 2018	Mar. 31, 2017
Income Tax Disclosure [Abstract]
Provision for income taxes at U.S. federal statutory income tax rate			$ 50.1	$ 59	$ 37.5
State and local income taxes, net of federal benefit			5.3	2.9	1.1
Nef effects of foreign rate differential			1.8	(2.6)	0.8
Net effects of foreign operations			1.6	(7.4)	(5.3)
Net effect to deferred taxes for changes in tax rates			(2.6)	(0.3)	(0.3)
Net effect to deferred taxes for U.S. Tax Reform		$ (65.9)	0.8	(67.1)	0
Net effect of U.S. Tax Reform transition tax			(0.1)	0.2	0
Net effects of GILTI inclusion			6.5	0	0
Foreign derived intangible income deduction			(1.8)	0	0
Unrecognized tax benefits, net of federal benefit			(7)	1.1	1.3
Domestic production activities deduction			0	(3.2)	(3.2)
Research and development credit			(0.9)	(0.9)	(7.6)
Excess tax benefits related to equity compensation			(1.1)	(0.5)	(7)
§162(m) compensation limitation			1.9	1	0
Net changes in valuation allowance			(2.3)	(2.8)	(2.3)
Other	$ 0.6		1.2	1.1	0.6
Provision (benefit) for income taxes			$ 53.4	$ (19.5)	$ 15.6

Income Taxes - Components of In

Income Taxes - Components of Income (Loss) Before Income Taxes (Details) - USD ($) $ in Millions	12 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Mar. 31, 2017
Income Tax Disclosure [Abstract]
United States	$ 174.8	$ 117.1	$ 69.1
Non-United States	64	70	38.2
Income from continuing operations before income taxes	$ 238.8	$ 187.1	$ 107.3

Income Taxes - Deferred Income

Income Taxes - Deferred Income Tax Assets and Liabilities (Details) - USD ($) $ in Millions	Mar. 31, 2019	Mar. 31, 2018
Deferred tax assets:
Compensation and retirement benefits	$ 55.7	$ 47
General accruals and reserves	9.8	7.1
State tax net operating loss carryforwards	21.9	23.1
Federal and state capital loss carryforwards	12.7	0
Foreign net operating loss and interest carryforwards	6.7	9.2
Other	0.3	3.1
Total deferred tax assets before valuation allowance	107.1	89.5
Valuation allowance	(32.4)	(23)
Total deferred tax assets	74.7	66.5
Deferred tax liabilities:
Property, plant and equipment	32.6	33.1
Inventories	15.4	19.7
Intangible assets and goodwill	137.9	142.5
Cancellation of indebtedness	0	7.1
Total deferred tax liabilities	185.9	202.4
Net deferred tax liabilities	111.2	135.9
Net amount on Consolidated Balance Sheet consists of:
Other assets	14.7	13.4
Deferred income taxes	(125.9)	(149.3)
Net long-term deferred tax liabilities	$ (111.2)	$ (135.9)

Income Taxes - Gross Unrecogniz

Income Taxes - Gross Unrecognized Tax Benefits (Details) - USD ($) $ in Millions	12 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Reconciliation of Unrecognized Tax Benefits [Roll Forward]
Balance at beginning of period	$ 15.6	$ 15
Additions based on tax positions related to the current year	7.7	0.8
Additions for tax positions of prior years	4.7	0
Reductions for tax positions of prior years	0	0
Settlements	(2.3)	0
Reductions due to lapse of applicable statute of limitations	(7.1)	(0.6)
Cumulative translation adjustment, decrease	(0.3)
Cumulative translation adjustment, increase		0.4
Balance at end of period	$ 18.3	$ 15.6

Commitments and Contingencies -

Commitments and Contingencies - Narrative (Details) lawsuit in Thousands	12 Months Ended
	Mar. 31, 2019USD ($)carrierlawsuitclaimant	Mar. 31, 2018USD ($)	Mar. 31, 2013USD ($)	Dec. 31, 2002releasedefendant
Loss Contingencies [Line Items]
Indemnity obligations (in excess of)	$ 900,000,000
Number of carriers that could impact coverage if insolvent | carrier	1
Net proceeds from sale-leaseback transaction		$ 5,800,000
Gain or loss recognized, sale-leaseback transaction		0
Financing lease obligation	$ 23,000,000
Capital lease obligation		$ 7,500,000
Environmental Issue | Ellsworth Industrial Park Site
Loss Contingencies [Line Items]
Number of releases, or threatened releases, chlorinated solvents (or more) | release				1
Percentage of indemnity obligations paid by seller				100.00%
Environmental Issue | Ellsworth Industrial Park Site | Minimum
Loss Contingencies [Line Items]
Number of defendants (at least) | defendant				10
Asbestos Issue | Stearns
Loss Contingencies [Line Items]
Percentage of indemnity obligations paid by seller	100.00%
Number of pending claims | claimant	300
Asbestos Issue | Prager
Loss Contingencies [Line Items]
Percentage of costs paid by insurance providers	100.00%
Asbestos Issue | Falk
Loss Contingencies [Line Items]
Percentage of indemnity obligations paid by seller	100.00%
Number of pending claims | claimant	100
Asbestos Issue | Zurn
Loss Contingencies [Line Items]
Number of pending claims | claimant	14,000
Number of pending lawsuits | lawsuit	6
Expected time for claim to be filed	10 years
Estimate of potential liability	$ 40,000,000
Amount expected to be paid by insurance providers	$ 30,000,000
Timeframe of estimated claims disbursements	10 years
Damages from Product Defects | Zurn
Loss Contingencies [Line Items]
Claim settlement funding period			7 years
Settlement amount			$ 20,000,000

Public Offering and Common St_2

Public Offering and Common Stock Repurchases - Narrative (Details)	Dec. 07, 2016USD ($)$ / sharesshares	Mar. 31, 2019USD ($)shares	Mar. 31, 2018USD ($)shares	Mar. 31, 2017USD ($)shares	Mar. 31, 2015USD ($)
Term Loan | Credit Facility
Payments of debt extinguishment costs	$ 195,000,000
Depositary Shares
Shares issued (in shares) | shares	8,050,000
Preferred stock, conversion ratio	0.05
Redeemable Convertible Preferred Stock
Shares issued (in shares) | shares	402,500	402,500	402,500
Dividend rate, percentage	5.75%	5.75%
Offering price (in dollars per share) | $ / shares	$ 50
Liquidation preference per share (in dollars per share) | $ / shares	$ 1,000
Proceeds from issuance of convertible preferred stock	$ 389,700,000
Accrued dividends		$ 23,200,000	$ 23,200,000	$ 7,300,000
Cash dividends paid		23,200,000	$ 23,200,000	$ 4,400,000
Dividends in arrears		0
Redeemable Convertible Preferred Stock | Minimum
Shares issued upon conversion (in shares) | shares	39.7020
Redeemable Convertible Preferred Stock | Maximum
Shares issued upon conversion (in shares) | shares	47.6420
Common Stock
Stock repurchase program, authorized amount (up to)					$ 200,000,000
Stock repurchased during period, shares (in shares) | shares			0	0
Stock repurchase program, remaining authorized repurchase amount		$ 160,000,000

Business Segment Information -

Business Segment Information - Schedule of Business Segment Information (Details) $ in Millions	3 Months Ended								9 Months Ended	12 Months Ended
	Mar. 31, 2019USD ($)	Dec. 31, 2018USD ($)	Sep. 30, 2018USD ($)	Jun. 30, 2018USD ($)	Mar. 31, 2018USD ($)	Dec. 31, 2017USD ($)	Sep. 30, 2017USD ($)	Jun. 30, 2017USD ($)	Dec. 31, 2018segment	Mar. 31, 2019USD ($)segment	Mar. 31, 2018USD ($)	Mar. 31, 2017USD ($)
Segment Reporting Information [Line Items]
Number of business segments | segment									2	2
Segment Reporting Information, Additional Information [Abstract]
Net sales by product	$ 537.5	$ 485	$ 524.8	$ 503.6	$ 517.9	$ 436.7	$ 453.8	$ 443.2		$ 2,050.9	$ 1,851.6	$ 1,712.5
Income (loss) from operations										305.6	266.4	203.2
Non-operating expense:
Interest expense, net										(69.9)	(75.1)	(88.3)
Gain (loss) on the extinguishment of debt										4.3	(11.9)	(7.8)
Other (expense) income, net										(1.2)	7.7	0.2
Income from continuing operations before income taxes										238.8	187.1	107.3
(Provision) benefit for income taxes										53.4	(19.5)	15.6
Equity method investment income										3.6	0	0
Net income from continuing operations	47.7	52.9	46.2	42.2	58	85.9	33.3	29.4		189	206.6	91.7
Loss from discontinued operations, net of tax	(0.4)	(27.8)	(83.7)	(42.8)	(119.9)	(4.3)	(3.5)	(2.9)		(154.7)	(130.6)	(17.6)
Net income (loss)	47.3	25.1	(37.5)	(0.6)	(61.9)	81.6	29.8	26.5		34.3	76	74.1
Non-controlling interest income	0.1	(0.3)	0.1	0.1	0.1	0	0	0		0	0.1	0
Net income (loss) attributable to Rexnord	47.2	25.4	(37.6)	(0.7)	(62)	81.6	29.8	26.5		34.3	75.9	74.1
Dividends on preferred stock	(5.8)	(5.8)	(5.8)	(5.8)	(5.8)	(5.8)	(5.8)	(5.8)		(23.2)	(23.2)	(7.3)
Net income (loss) attributable to Rexnord common stockholders	41.4	$ 19.6	$ (43.4)	$ (6.5)	(67.8)	$ 75.8	$ 24	$ 20.7		11.1	52.7	66.8
Depreciation and Amortization										87.9	79.7	96.1
Capital Expenditures										42.5	38	50.8
Total Assets	3,259.7				3,423.7					3,259.7	3,423.7	3,539.3
Segments, Geographical Areas [Abstract]
Net Sales										2,050.9	1,851.6	1,712.5
Long-lived Assets	383				396.5					383	396.5	341.5
United States
Segments, Geographical Areas [Abstract]
Net Sales										1,460.6	1,361.6	1,285.1
Long-lived Assets	260.7				260.9					260.7	260.9	261.9
Europe
Segments, Geographical Areas [Abstract]
Net Sales										327.5	255.5	218.9
Long-lived Assets	78.9				91.2					78.9	91.2	37.7
Rest of World
Segments, Geographical Areas [Abstract]
Net Sales										262.8	234.5	208.5
Long-lived Assets	43.4				44.4					43.4	44.4	41.9
Process & Motion Control
Segment Reporting Information, Additional Information [Abstract]
Net sales by product										1,380.6	1,241.2	1,134.7
Process & Motion Control | Europe
Segment Reporting Information, Additional Information [Abstract]
Net sales by product										327.5	255.5	218.9
Water Management
Segment Reporting Information, Additional Information [Abstract]
Net sales by product										670.3	610.4	577.8
Water Management | Europe
Segment Reporting Information, Additional Information [Abstract]
Net sales by product										0	0	0
Operating Segments | Process & Motion Control
Segment Reporting Information, Additional Information [Abstract]
Income (loss) from operations										226.1	191.3	133
Non-operating expense:
Depreciation and Amortization										63	56	69.9
Capital Expenditures										36.3	34.2	42
Total Assets	2,677.7				2,598.8					2,677.7	2,598.8	2,671.4
Operating Segments | Water Management
Segment Reporting Information, Additional Information [Abstract]
Income (loss) from operations										139.7	125.7	112.3
Non-operating expense:
Depreciation and Amortization										24.9	23.7	26.2
Capital Expenditures										6.2	3.8	8.8
Total Assets	576.8				820.9					576.8	820.9	862.3
Corporate
Segment Reporting Information, Additional Information [Abstract]
Income (loss) from operations										(60.2)	(50.6)	(42.1)
Non-operating expense:
Total Assets	$ 5.2				$ 4					5.2	4	5.6
Original equipment manufacturers/ end-users | Process & Motion Control
Segment Reporting Information, Additional Information [Abstract]
Net sales by product										768.5	690.5	594.6
Original equipment manufacturers/ end-users | Operating Segments | Process & Motion Control
Segment Reporting Information, Additional Information [Abstract]
Net sales by product										768.5	690.5	594.6
Maintenance, repair, and operations | Process & Motion Control
Segment Reporting Information, Additional Information [Abstract]
Net sales by product										612.1	550.7	540.1
Maintenance, repair, and operations | Operating Segments | Process & Motion Control
Segment Reporting Information, Additional Information [Abstract]
Net sales by product										612.1	550.7	540.1
Water safety, quality, flow control and conservation | Water Management
Segment Reporting Information, Additional Information [Abstract]
Net sales by product										624.4	566.9	538.9
Water safety, quality, flow control and conservation | Operating Segments | Water Management
Segment Reporting Information, Additional Information [Abstract]
Net sales by product										624.4	566.9	538.9
Water infrastructure | Water Management
Segment Reporting Information, Additional Information [Abstract]
Net sales by product										45.9	43.5	38.9
Water infrastructure | Operating Segments | Water Management
Segment Reporting Information, Additional Information [Abstract]
Net sales by product										$ 45.9	$ 43.5	$ 38.9

Quarterly Results of Operatio_3

Quarterly Results of Operations (unaudited) - Schedule of Quarterly Results of Operations (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended								12 Months Ended
	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2019	Mar. 31, 2018	Mar. 31, 2017
Effect of Fourth Quarter Events [Line Items]
Total	$ 537.5	$ 485	$ 524.8	$ 503.6	$ 517.9	$ 436.7	$ 453.8	$ 443.2	$ 2,050.9	$ 1,851.6	$ 1,712.5
Gross profit	201.8	184.3	203.2	195.5	198.7	170.1	173.6	164.1	784.8	706.5	626.4
Net income from continuing operations	47.7	52.9	46.2	42.2	58	85.9	33.3	29.4	189	206.6	91.7
Loss from discontinued operations, net of tax	(0.4)	(27.8)	(83.7)	(42.8)	(119.9)	(4.3)	(3.5)	(2.9)	(154.7)	(130.6)	(17.6)
Net (loss) income	47.3	25.1	(37.5)	(0.6)	(61.9)	81.6	29.8	26.5	34.3	76	74.1
Non-controlling interest income	0.1	(0.3)	0.1	0.1	0.1	0	0	0	0	0.1	0
Net income (loss) attributable to Rexnord	47.2	25.4	(37.6)	(0.7)	(62)	81.6	29.8	26.5	34.3	75.9	74.1
Dividends on preferred stock	(5.8)	(5.8)	(5.8)	(5.8)	(5.8)	(5.8)	(5.8)	(5.8)	(23.2)	(23.2)	(7.3)
Net income (loss) attributable to Rexnord common stockholders	$ 41.4	$ 19.6	$ (43.4)	$ (6.5)	$ (67.8)	$ 75.8	$ 24	$ 20.7	$ 11.1	$ 52.7	$ 66.8
Basic net income (loss) per share attributable to Rexnord common stockholders
Continuing operations (in dollars per share)	$ 0.40	$ 0.45	$ 0.39	$ 0.35	$ 0.50	$ 0.77	$ 0.26	$ 0.23	$ 1.58	$ 1.76	$ 0.82
Discontinued operations (in dollars per share)	0	(0.27)	(0.80)	(0.41)	(1.15)	(0.04)	(0.03)	(0.03)	(1.48)	(1.26)	(0.17)
Net income (in dollars per share)	0.39	0.19	(0.42)	(0.06)	(0.65)	0.73	0.23	0.20	0.11	0.51	0.65
Diluted net income (loss) per share attributable to Rexnord common stockholders
Continuing operations (in dollars per share)	0.39	0.43	0.37	0.34	0.47	0.70	0.26	0.23	1.53	1.69	0.81
Discontinued operations (in dollars per share)	0	(0.23)	(0.68)	(0.40)	(0.98)	(0.04)	(0.03)	(0.03)	(1.25)	(1.07)	(0.17)
Net income (in dollars per share)	$ 0.38	$ 0.21	$ (0.30)	$ (0.06)	$ (0.51)	$ 0.67	$ 0.23	$ 0.20	$ 0.28	$ 0.62	$ 0.64
Non-cash asset impairment									$ 0.3	$ 0.8	$ 1.5
Net effect to deferred taxes for U.S. Tax Reform						$ (65.9)			0.8	(67.1)	0
Discontinued Operations, Held-for-sale
Effect of Fourth Quarter Events [Line Items]
Loss from discontinued operations, net of tax									(154.7)	(130.6)	(17.6)
Diluted net income (loss) per share attributable to Rexnord common stockholders
Non-cash asset impairment			$ 82	$ 44					126	111.2	0
Loss on sale of discontinued operations		$ 19.7							$ 22.5	$ 0	$ 0
Non-cash Impairment					$ 111.2

Guarantor Subsidiaries - Conden

Guarantor Subsidiaries - Condensed Consolidating Balance Sheets (Details) - USD ($) $ in Millions	Mar. 31, 2019	Mar. 31, 2018	Mar. 31, 2017	Mar. 31, 2016
Current assets:
Cash and cash equivalents	$ 292.5	$ 193.2
Receivables, net	334.3	314.7
Inventories	316.5	304.1
Income tax receivable	3.3	17.5
Other current assets	36.3	37.9
Current assets held for sale	0	130.3
Total current assets	982.9	997.7
Property, plant and equipment, net	383	396.5
Intangible assets, net	511.5	530.9
Goodwill	1,299.7	1,276.1	$ 1,216.5
Investment in:
Other assets	82.6	114
Non-current assets held for sale	0	108.5
Total assets	3,259.7	3,423.7	3,539.3
Current liabilities:
Current maturities of debt	1.2	3.9
Trade payables	191.7	189.9
Compensation and benefits	63.7	63.9
Current portion of pension and postretirement benefit obligations	3.3	4
Other current liabilities	137.1	127.4
Current liabilities held for sale	0	65.1
Total current liabilities	397	454.2
Long-term debt	1,236.8	1,352.1
Note payable to affiliates, net	0	0
Pension and postretirement benefit obligations	158	163.2
Deferred income taxes	125.9	149.3
Other liabilities	111	78.3
Non-current liabilities held for sale	0	13.8
Total liabilities	2,028.7	2,210.9
Total stockholders' equity	1,231	1,212.8	$ 1,070.6	$ 588
Total liabilities and stockholders' equity	3,259.7	3,423.7
Eliminations
Current assets:
Cash and cash equivalents	0	0
Receivables, net	0	0
Inventories	0	0
Income tax receivable	0	0
Other current assets	0	0
Current assets held for sale		0
Total current assets	0	0
Property, plant and equipment, net	0	0
Intangible assets, net	0	0
Goodwill	0	0
Investment in:
Non-current assets held for sale		0
Total assets	(4,905.5)	(4,833.1)
Current liabilities:
Current maturities of debt	0	0
Trade payables	0	0
Compensation and benefits	0	0
Current portion of pension and postretirement benefit obligations	0	0
Other current liabilities	0	0
Current liabilities held for sale		0
Total current liabilities	0	0
Long-term debt	0	0
Note payable to affiliates, net	0	0
Pension and postretirement benefit obligations	0	0
Deferred income taxes	0	0
Other liabilities	0	0
Non-current liabilities held for sale		0
Total liabilities	0	0
Total stockholders' equity	(4,905.5)	(4,833.1)
Total liabilities and stockholders' equity	(4,905.5)	(4,833.1)
Issuer subsidiaries
Investment in:
Subsidiaries	(1,212.1)	(1,177.5)
Guarantor subsidiaries
Investment in:
Subsidiaries	(3,146)	(3,053.3)
Non-guarantor subsidiaries
Investment in:
Subsidiaries	(547.4)	(602.3)
Parent
Current assets:
Cash and cash equivalents	1.4	0
Receivables, net	0	0
Inventories	0	0
Income tax receivable	0	7.4
Other current assets	0	0
Current assets held for sale		0
Total current assets	1.4	7.4
Property, plant and equipment, net	0	0
Intangible assets, net	0	0
Goodwill	0	0
Investment in:
Subsidiaries	1,212.1	1,177.5
Other assets	0	40.5
Non-current assets held for sale		0
Total assets	1,213.5	1,225.4
Current liabilities:
Current maturities of debt	0	0
Trade payables	0	0
Compensation and benefits	0	0
Current portion of pension and postretirement benefit obligations	0	0
Other current liabilities	3	3
Current liabilities held for sale		0
Total current liabilities	3	3
Long-term debt	0	0
Note payable to affiliates, net		9.4
Note receivable from affiliates, net	20.7
Pension and postretirement benefit obligations	0	0
Deferred income taxes	0	0
Other liabilities	0.2	0.2
Non-current liabilities held for sale		0
Total liabilities	(17.5)	12.6
Total stockholders' equity	1,231	1,212.8
Total liabilities and stockholders' equity	1,213.5	1,225.4
Issuers
Current assets:
Cash and cash equivalents	0.2	0
Receivables, net	0	0
Inventories	0	0
Income tax receivable	0	0
Other current assets	0	0
Current assets held for sale		0
Total current assets	0.2	0
Property, plant and equipment, net	0	0
Intangible assets, net	0	0
Goodwill	0	0
Investment in:
Subsidiaries	3,146	3,053.3
Other assets	1.1	1.4
Non-current assets held for sale		0
Total assets	3,147.3	3,054.7
Current liabilities:
Current maturities of debt	0	0
Trade payables	0	0
Compensation and benefits	0	0
Current portion of pension and postretirement benefit obligations	0	0
Other current liabilities	7.5	9.4
Current liabilities held for sale		0
Total current liabilities	7.5	9.4
Long-term debt	1,213.4	1,285.8
Note payable to affiliates, net	714.3	581.3
Pension and postretirement benefit obligations	0	0
Deferred income taxes	0	0.7
Other liabilities	0	0
Non-current liabilities held for sale		0
Total liabilities	1,935.2	1,877.2
Total stockholders' equity	1,212.1	1,177.5
Total liabilities and stockholders' equity	3,147.3	3,054.7
Guarantor Subsidiaries
Current assets:
Cash and cash equivalents	107.7	40.2
Receivables, net	219.6	200.4
Inventories	214.3	196.3
Income tax receivable	0.5	5.4
Other current assets	12.5	12
Current assets held for sale		12.1
Total current assets	554.6	466.4
Property, plant and equipment, net	251.2	250.1
Intangible assets, net	411.6	438.8
Goodwill	1,017.1	1,010.6
Investment in:
Subsidiaries	547.4	602.3
Other assets	63.1	34.2
Non-current assets held for sale		8
Total assets	2,845	2,810.4
Current liabilities:
Current maturities of debt	0.1	0.1
Trade payables	129.7	128.8
Compensation and benefits	42.4	41.5
Current portion of pension and postretirement benefit obligations	1.9	2.4
Other current liabilities	90.3	74
Current liabilities held for sale		6
Total current liabilities	264.4	252.8
Long-term debt	14.4	55.8
Note receivable from affiliates, net	879	(845.6)
Pension and postretirement benefit obligations	112.9	114.7
Deferred income taxes	98.8	116.2
Other liabilities	87.4	62.3
Non-current liabilities held for sale		0.9
Total liabilities	(301.1)	(242.9)
Total stockholders' equity	3,146.1	3,053.3
Total liabilities and stockholders' equity	2,845	2,810.4
Non-Guarantor Subsidiaries
Current assets:
Cash and cash equivalents	183.2	153
Receivables, net	114.7	114.3
Inventories	102.2	107.8
Income tax receivable	2.8	4.7
Other current assets	23.8	25.9
Current assets held for sale		118.2
Total current assets	426.7	523.9
Property, plant and equipment, net	131.8	146.4
Intangible assets, net	99.9	92.1
Goodwill	282.6	265.5
Investment in:
Other assets	18.4	37.9
Non-current assets held for sale		100.5
Total assets	959.4	1,166.3
Current liabilities:
Current maturities of debt	1.1	3.8
Trade payables	62	61.1
Compensation and benefits	21.3	22.4
Current portion of pension and postretirement benefit obligations	1.4	1.6
Other current liabilities	36.3	41
Current liabilities held for sale		59.1
Total current liabilities	122.1	189
Long-term debt	9	10.5
Note payable to affiliates, net	185.4	254.9
Pension and postretirement benefit obligations	45.1	48.5
Deferred income taxes	27.1	32.4
Other liabilities	23.4	15.8
Non-current liabilities held for sale		12.9
Total liabilities	412.1	564
Total stockholders' equity	547.3	602.3
Total liabilities and stockholders' equity	$ 959.4	$ 1,166.3

Guarantor Subsidiaries - Cond_2

Guarantor Subsidiaries - Condensed Consolidating Statement of Operations (Details) - USD ($) $ in Millions	3 Months Ended								12 Months Ended
	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2019	Mar. 31, 2018	Mar. 31, 2017
Condensed Income Statements, Captions [Line Items]
Total	$ 537.5	$ 485	$ 524.8	$ 503.6	$ 517.9	$ 436.7	$ 453.8	$ 443.2	$ 2,050.9	$ 1,851.6	$ 1,712.5
Cost of sales									1,266.1	1,145.1	1,086.1
Gross profit	201.8	184.3	203.2	195.5	198.7	170.1	173.6	164.1	784.8	706.5	626.4
Selling, general and administrative expenses									433.1	393.8	356.1
Restructuring and other similar charges									12.1	14.1	26.1
Amortization of intangible assets									34	32.2	41
Income from operations									305.6	266.4	203.2
Interest income (expense), net:
To third parties									(69.9)	(75.1)	(88.3)
To affiliates									0	0	0
Gain (loss) on the extinguishment of debt									4.3	(11.9)	(7.8)
Other (expense) income, net									(1.2)	7.7	0.2
Income from continuing operations before income taxes									238.8	187.1	107.3
Provision for income taxes									(53.4)	19.5	(15.6)
Equity method investment income									3.6	0	0
Income (loss) before equity in income of subsidiaries									189	206.6	91.7
Equity in earnings (loss) of subsidiaries									0	0	0
Net income from continuing operations	47.7	52.9	46.2	42.2	58	85.9	33.3	29.4	189	206.6	91.7
Loss from discontinued operations	(0.4)	(27.8)	(83.7)	(42.8)	(119.9)	(4.3)	(3.5)	(2.9)	(154.7)	(130.6)	(17.6)
Net income (loss)	47.3	25.1	(37.5)	(0.6)	(61.9)	81.6	29.8	26.5	34.3	76	74.1
Non-controlling interest income	0.1	(0.3)	0.1	0.1	0.1	0	0	0	0	0.1	0
Net income (loss) attributable to Rexnord	47.2	25.4	(37.6)	(0.7)	(62)	81.6	29.8	26.5	34.3	75.9	74.1
Dividends on preferred stock	(5.8)	(5.8)	(5.8)	(5.8)	(5.8)	(5.8)	(5.8)	(5.8)	(23.2)	(23.2)	(7.3)
Net income (loss) attributable to Rexnord common stockholders	$ 41.4	$ 19.6	$ (43.4)	$ (6.5)	$ (67.8)	$ 75.8	$ 24	$ 20.7	11.1	52.7	66.8
Comprehensive income (loss)									11.8	138.9	76.1
Eliminations
Condensed Income Statements, Captions [Line Items]
Total									(186.7)	(172.6)	(115)
Cost of sales									(186.7)	(172.6)	(115)
Gross profit									0	0	0
Selling, general and administrative expenses									0	0	0
Restructuring and other similar charges									0	0	0
Amortization of intangible assets									0	0	0
Income from operations									0	0	0
Interest income (expense), net:
To third parties									0	0	0
To affiliates									0	0	0
Gain (loss) on the extinguishment of debt									0	0	0
Other (expense) income, net									0	0	0
Income from continuing operations before income taxes									0	0	0
Provision for income taxes									0	0	0
Equity method investment income									0
Income (loss) before equity in income of subsidiaries									0	0	0
Equity in earnings (loss) of subsidiaries									(19.6)	(236.5)	(181)
Net income from continuing operations									(19.6)	(236.5)	(181)
Loss from discontinued operations									0	0	0
Net income (loss)									(19.6)	(236.5)	(181)
Non-controlling interest income									0	0	0
Net income (loss) attributable to Rexnord									(19.6)	(236.5)	(181)
Dividends on preferred stock									0	0	0
Net income (loss) attributable to Rexnord common stockholders									(19.6)	(236.5)	(181)
Comprehensive income (loss)									(19.6)	(236.5)	(181)
Parent
Condensed Income Statements, Captions [Line Items]
Total									0	0	0
Cost of sales									0	0	0
Gross profit									0	0	0
Selling, general and administrative expenses									0	0	0
Restructuring and other similar charges									0		0
Amortization of intangible assets									0	0	0
Income from operations									0	0	0
Interest income (expense), net:
To third parties									0	0	0
To affiliates									2	3	1.1
Gain (loss) on the extinguishment of debt									0	0	0
Other (expense) income, net									0	0	0
Income from continuing operations before income taxes									2	3	1.1
Provision for income taxes									0	0	0
Equity method investment income									0
Income (loss) before equity in income of subsidiaries									2	3	1.1
Equity in earnings (loss) of subsidiaries									32.3	73	73
Net income from continuing operations									34.3	76	74.1
Loss from discontinued operations									0	0	0
Net income (loss)									34.3	76	74.1
Non-controlling interest income									0	0	0
Net income (loss) attributable to Rexnord									34.3	76	74.1
Dividends on preferred stock									(23.2)	(23.2)	(7.3)
Net income (loss) attributable to Rexnord common stockholders									11.1	52.8	66.8
Comprehensive income (loss)									34.3	76	74.1
Issuers
Condensed Income Statements, Captions [Line Items]
Total									0	0	0
Cost of sales									0	0	0
Gross profit									0	0	0
Selling, general and administrative expenses									0	0	0
Restructuring and other similar charges									0	0	0
Amortization of intangible assets									0	0	0
Income from operations									0	0	0
Interest income (expense), net:
To third parties									(68.2)	(75.3)	(88.1)
To affiliates									61.7	27.4	74.3
Gain (loss) on the extinguishment of debt									(0.7)	(11.9)	(7.8)
Other (expense) income, net									0.3	0	(0.3)
Income from continuing operations before income taxes									(6.9)	(59.8)	(21.9)
Provision for income taxes									0	0	(0.1)
Equity method investment income									0
Income (loss) before equity in income of subsidiaries									(6.9)	(59.8)	(22)
Equity in earnings (loss) of subsidiaries									39.2	132.8	95
Net income from continuing operations									32.3	73	73
Loss from discontinued operations									0	0	0
Net income (loss)									32.3	73	73
Non-controlling interest income									0	0	0
Net income (loss) attributable to Rexnord									32.3	73	73
Dividends on preferred stock									0	0	0
Net income (loss) attributable to Rexnord common stockholders									32.3	73	73
Comprehensive income (loss)									22.5	89.2	77.5
Guarantor Subsidiaries
Condensed Income Statements, Captions [Line Items]
Total									1,565	1,457.3	1,372.3
Cost of sales									977.1	910.3	878
Gross profit									587.9	547	494.3
Selling, general and administrative expenses									328.8	310.5	286.1
Restructuring and other similar charges									7.6	12.8	24.9
Amortization of intangible assets									27.5	26.6	35.1
Income from operations									224	197.1	148.2
Interest income (expense), net:
To third parties									(2)	(0.4)	(0.4)
To affiliates									(53.2)	(13.1)	(53.4)
Gain (loss) on the extinguishment of debt									5	0	0
Other (expense) income, net									4.1	(1.3)	(0.4)
Income from continuing operations before income taxes									177.9	182.3	94
Provision for income taxes									(44.5)	39.7	(0.4)
Equity method investment income									0
Income (loss) before equity in income of subsidiaries									133.4	222	93.6
Equity in earnings (loss) of subsidiaries									(51.9)	30.7	13
Net income from continuing operations									81.5	252.7	106.6
Loss from discontinued operations									(42.3)	(119.9)	(11.6)
Net income (loss)									39.2	132.8	95
Non-controlling interest income									0	0	0
Net income (loss) attributable to Rexnord									39.2	132.8	95
Dividends on preferred stock									0	0	0
Net income (loss) attributable to Rexnord common stockholders									39.2	132.8	95
Comprehensive income (loss)									34.1	135.6	86
Non-Guarantor Subsidiaries
Condensed Income Statements, Captions [Line Items]
Total									672.6	566.9	455.2
Cost of sales									475.7	407.4	323.1
Gross profit									196.9	159.5	132.1
Selling, general and administrative expenses									104.3	83.3	70
Restructuring and other similar charges									4.5	1.3	1.2
Amortization of intangible assets									6.5	5.6	5.9
Income from operations									81.6	69.3	55
Interest income (expense), net:
To third parties									0.3	0.6	0.2
To affiliates									(10.5)	(17.3)	(22)
Gain (loss) on the extinguishment of debt									0	0	0
Other (expense) income, net									(5.6)	9	0.9
Income from continuing operations before income taxes									65.8	61.6	34.1
Provision for income taxes									(8.9)	(20.2)	(15.1)
Equity method investment income									3.6
Income (loss) before equity in income of subsidiaries									60.5	41.4	19
Equity in earnings (loss) of subsidiaries									0	0	0
Net income from continuing operations									60.5	41.4	19
Loss from discontinued operations									(112.4)	(10.7)	(6)
Net income (loss)									(51.9)	30.7	13
Non-controlling interest income									0	0.1	0
Net income (loss) attributable to Rexnord									(51.9)	30.6	13
Dividends on preferred stock									0	0	0
Net income (loss) attributable to Rexnord common stockholders									(51.9)	30.6	13
Comprehensive income (loss)									$ (59.5)	$ 74.6	$ 19.5

Guarantor Subsidiaries - Cond_3

Guarantor Subsidiaries - Condensed Consolidating Statement of Cash Flows (Details) - USD ($) $ in Millions	12 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Mar. 31, 2017
Operating activities
Cash provided by operating activities	$ 258.1	$ 228.5	$ 195.1
Investing activities
Expenditures for property, plant and equipment	(44.9)	(40.7)	(54.5)
Acquisitions, net of cash acquired	(23.4)	(173.6)	(213.7)
Proceeds from dispositions of long-lived assets	4.7	5.5	4.2
Cash dividend from equity method investment	1.3	0	0
Net proceeds from divestiture of discontinued operations	9	0	0
Cash used for investing activities	(53.3)	(208.8)	(264)
Financing activities
Proceeds from borrowings of debt	270.8	1,529.8	1,606.4
Repayments of debt	(369)	(1,816.2)	(1,905.3)
Payment of debt issuance costs	0	(11)	(11.8)
Deferred acquisition payment	0	0	(5.7)
Payment of preferred stock dividends	(23.2)	(23.2)	(4.4)
Proceeds from exercise of stock options	7.9	7.2	11
Proceeds from issuance of preferred stock, net of direct offering costs	0	0	389.7
Taxes withheld and paid on employees' share-based payment awards	(3.2)	(1.2)	0
Proceeds from financing lease obligations	0	5.8	0
Cash (used for) provided by financing activities	(116.7)	(308.8)	79.9
Effect of exchange rate changes on cash, cash equivalents and restricted cash	(13.2)	16.6	(5.5)
Increase (decrease) in cash, cash equivalents and restricted cash	74.9	(272.5)	5.5
Cash, cash equivalents and restricted cash at beginning of period	217.6	490.1	484.6
Cash, cash equivalents and restricted cash at end of period	292.5	217.6	490.1
Eliminations
Operating activities
Cash provided by operating activities	0	0	0
Investing activities
Expenditures for property, plant and equipment	0	0	0
Acquisitions, net of cash acquired	0	0	0
Proceeds from dispositions of long-lived assets	0	0	0
Cash dividend from equity method investment	0
Net proceeds from divestiture of discontinued operations	0
Cash used for investing activities	0	0	0
Financing activities
Proceeds from borrowings of debt	0	0	0
Repayments of debt	0	0	0
Payment of debt issuance costs		0	0
Deferred acquisition payment			0
Payment of preferred stock dividends	0	0	0
Proceeds from exercise of stock options	0	0	0
Proceeds from issuance of preferred stock, net of direct offering costs			0
Taxes withheld and paid on employees' share-based payment awards	0	0
Proceeds from financing lease obligations		0
Cash (used for) provided by financing activities	0	0	0
Effect of exchange rate changes on cash, cash equivalents and restricted cash	0	0	0
Increase (decrease) in cash, cash equivalents and restricted cash	0	0	0
Cash, cash equivalents and restricted cash at beginning of period	0	0	0
Cash, cash equivalents and restricted cash at end of period	0	0	0
Parent
Operating activities
Cash provided by operating activities	19.9	12.3	(397.5)
Investing activities
Expenditures for property, plant and equipment	0	0	0
Acquisitions, net of cash acquired	0	0	0
Proceeds from dispositions of long-lived assets	0	0	0
Cash dividend from equity method investment	0
Net proceeds from divestiture of discontinued operations	0
Cash used for investing activities	0	0	0
Financing activities
Proceeds from borrowings of debt	0	0	0
Repayments of debt	0	0	0
Payment of debt issuance costs		0	0
Deferred acquisition payment			0
Payment of preferred stock dividends	(23.2)	(23.2)	(4.4)
Proceeds from exercise of stock options	7.9	7.2	11
Proceeds from issuance of preferred stock, net of direct offering costs			389.7
Taxes withheld and paid on employees' share-based payment awards	(3.2)	(1.2)
Proceeds from financing lease obligations		0
Cash (used for) provided by financing activities	(18.5)	(17.2)	396.3
Effect of exchange rate changes on cash, cash equivalents and restricted cash	0	0	0
Increase (decrease) in cash, cash equivalents and restricted cash	1.4	(4.9)	(1.2)
Cash, cash equivalents and restricted cash at beginning of period	0	4.9	6.1
Cash, cash equivalents and restricted cash at end of period	1.4	0	4.9
Issuers
Operating activities
Cash provided by operating activities	75.2	313.4	308.8
Investing activities
Expenditures for property, plant and equipment	0	0	0
Acquisitions, net of cash acquired	0	0	0
Proceeds from dispositions of long-lived assets	0	0	0
Cash dividend from equity method investment	0
Net proceeds from divestiture of discontinued operations	0
Cash used for investing activities	0	0	0
Financing activities
Proceeds from borrowings of debt	0	1,324	1,606.4
Repayments of debt	(75)	(1,626.5)	(1,905.3)
Payment of debt issuance costs		(11)	(11.8)
Deferred acquisition payment			0
Payment of preferred stock dividends	0	0	0
Proceeds from exercise of stock options	0	0	0
Proceeds from issuance of preferred stock, net of direct offering costs			0
Taxes withheld and paid on employees' share-based payment awards	0	0
Proceeds from financing lease obligations		0
Cash (used for) provided by financing activities	(75)	(313.5)	(310.7)
Effect of exchange rate changes on cash, cash equivalents and restricted cash	0	0	0
Increase (decrease) in cash, cash equivalents and restricted cash	0.2	(0.1)	(1.9)
Cash, cash equivalents and restricted cash at beginning of period	0	0.1	2
Cash, cash equivalents and restricted cash at end of period	0.2	0	0.1
Guarantor Subsidiaries
Operating activities
Cash provided by operating activities	112.9	(161.2)	215.7
Investing activities
Expenditures for property, plant and equipment	(33)	(28.4)	(43.3)
Acquisitions, net of cash acquired	(2)	(50)	(213.4)
Proceeds from dispositions of long-lived assets	4.7	5.3	4.2
Cash dividend from equity method investment	0
Net proceeds from divestiture of discontinued operations	3
Cash used for investing activities	(27.3)	(73.1)	(252.5)
Financing activities
Proceeds from borrowings of debt	268	205.8	0
Repayments of debt	(286.8)	(189.7)	0
Payment of debt issuance costs		0	0
Deferred acquisition payment			0
Payment of preferred stock dividends	0	0	0
Proceeds from exercise of stock options	0	0	0
Proceeds from issuance of preferred stock, net of direct offering costs			0
Taxes withheld and paid on employees' share-based payment awards	0	0
Proceeds from financing lease obligations		5.8
Cash (used for) provided by financing activities	(18.8)	21.9	0
Effect of exchange rate changes on cash, cash equivalents and restricted cash	0	0	0
Increase (decrease) in cash, cash equivalents and restricted cash	66.8	(212.4)	(36.8)
Cash, cash equivalents and restricted cash at beginning of period	40.9	253.3	290.1
Cash, cash equivalents and restricted cash at end of period	107.7	40.9	253.3
Non-Guarantor Subsidiaries
Operating activities
Cash provided by operating activities	50.1	64	68.1
Investing activities
Expenditures for property, plant and equipment	(11.9)	(12.3)	(11.2)
Acquisitions, net of cash acquired	(21.4)	(123.6)	(0.3)
Proceeds from dispositions of long-lived assets	0	0.2	0
Cash dividend from equity method investment	1.3
Net proceeds from divestiture of discontinued operations	6
Cash used for investing activities	(26)	(135.7)	(11.5)
Financing activities
Proceeds from borrowings of debt	2.8	0	0
Repayments of debt	(7.2)	0	0
Payment of debt issuance costs		0	0
Deferred acquisition payment			(5.7)
Payment of preferred stock dividends	0	0	0
Proceeds from exercise of stock options	0	0	0
Proceeds from issuance of preferred stock, net of direct offering costs			0
Taxes withheld and paid on employees' share-based payment awards	0	0
Proceeds from financing lease obligations		0
Cash (used for) provided by financing activities	(4.4)	0	(5.7)
Effect of exchange rate changes on cash, cash equivalents and restricted cash	(13.2)	16.6	(5.5)
Increase (decrease) in cash, cash equivalents and restricted cash	6.5	(55.1)	45.4
Cash, cash equivalents and restricted cash at beginning of period	176.7	231.8	186.4
Cash, cash equivalents and restricted cash at end of period	$ 183.2	$ 176.7	$ 231.8

Subsequent Event (Details)

Subsequent Event (Details) $ in Millions	May 10, 2019USD ($)
East Creek Corporation | Subsequent Event
Subsequent Event [Line Items]
Cash purchase price	$ 24.8

Schedule II - Valuation and Q_2

Schedule II - Valuation and Qualifying Accounts - Schedule II (Details) - USD ($) $ in Millions	12 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Mar. 31, 2017
Valuation allowance for trade and notes receivable
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Balance at Beginning of Year	$ 4.4	$ 5.4	$ 4
Charged to Costs and Expenses	(1.3)	0.2	(0.2)
Acquired Obligations	0.5	0.6	2
Charged to Other Accounts	0	0	0
Deductions	(0.5)	(1.8)	(0.4)
Balance at End of Year	3.1	4.4	5.4
Valuation allowance for income taxes
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Balance at Beginning of Year	23	21.8	24.1
Charged to Costs and Expenses	13.3	2.1	0.9
Acquired Obligations	0	4	0.2
Charged to Other Accounts	2	0	0
Deductions	(5.9)	(4.9)	(3.4)
Balance at End of Year	$ 32.4	$ 23	$ 21.8