Zurn Elkay Water Solutions (ZWS) 10-Q 27 Oct 20 2020 Q3 Quarterly report Financial data

Cover Page

Cover Page - shares	6 Months Ended
	Sep. 30, 2020	Oct. 23, 2020
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2020
Document Transition Report	false
Entity File Number	001-35475
Entity Registrant Name	REXNORD CORPORATION
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	20-5197013
Entity Address, Address Line One	511 W. Freshwater Way
Entity Address, City or Town	Milwaukee,
Entity Address, State or Province	WI
Entity Address, Postal Zip Code	53204
City Area Code	414
Local Phone Number	643-3739
Title of 12(b) Security	Common Stock, $.01 par value
Trading Symbol	RXN
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		120,279,849
Entity Central Index Key	0001439288
Amendment Flag	false
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q3
Current Fiscal Year End Date	--12-31

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Millions	Sep. 30, 2020	Mar. 31, 2020
Current assets:
Cash and cash equivalents	$ 326.6	$ 573.4
Receivables, net	290.3	334.7
Inventories	355.7	317.5
Other current assets	42.9	38.7
Total current assets	1,015.5	1,264.3
Property, plant and equipment, net	418.1	378.8
Intangible assets, net	499.1	514.2
Goodwill	1,326.2	1,321.9
Other assets	146.5	147.9
Total assets	3,405.4	3,627.1
Current liabilities:
Current maturities of debt	3.2	76.4
Trade payables	157	185.6
Compensation and benefits	49.7	61.8
Current portion of pension and postretirement benefit obligations	3.2	3.2
Other current liabilities	146.9	128.5
Total current liabilities	360	455.5
Long-term debt	1,192.6	1,397
Pension and postretirement benefit obligations	185	189.6
Deferred income taxes	120.1	121
Other liabilities	149.3	150.3
Total liabilities	2,007	2,313.4
Stockholders' equity:
Common stock, $0.01 par value; 200,000,000 shares authorized; shares issued and outstanding: 120,247,595 at September 30, 2020 and 119,718,631 at March 31, 2020	1.2	1.2
Additional paid-in capital	1,366.8	1,348.3
Retained earnings	132.7	85.9
Accumulated other comprehensive loss	(105.2)	(124.4)
Total Rexnord stockholders' equity	1,395.5	1,311
Non-controlling interest	2.9	2.7
Total stockholders' equity	1,398.4	1,313.7
Total liabilities and stockholders' equity	$ 3,405.4	$ 3,627.1

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Sep. 30, 2020	Mar. 31, 2020
Stockholders' equity:
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	200,000,000	200,000,000
Common stock, shares issued (in shares)	120,247,595	119,718,631
Common stock, shares outstanding (in shares)	120,247,595	119,718,631

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Millions	3 Months Ended		6 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Income Statement [Abstract]
Net sales	$ 493.6	$ 521.3	$ 942.7	$ 1,029.6
Cost of sales	300.5	313.1	572.7	619.8
Gross profit	193.1	208.2	370	409.8
Selling, general and administrative expenses	105.1	108.8	205.3	218.3
Restructuring and other similar charges	6.6	2.1	8.3	5.3
Amortization of intangible assets	9	8.8	18	17.5
Income from operations	72.4	88.5	138.4	168.7
Non-operating expense:
Interest expense, net	(11.5)	(15.3)	(24.9)	(30.8)
Gain on the extinguishment of debt	0	3.2	0	3.2
Other income (expense), net	0.6	(0.3)	1	(1.8)
Income before income taxes	61.5	76.1	114.5	139.3
Provision for income taxes	(16.1)	(19.5)	(33.3)	(34.3)
Equity method investment income	0	0.1	0	0.2
Net income from continuing operations	45.4	56.7	81.2	105.2
Loss from discontinued operations, net of tax	0	0	0	(1.8)
Net income	45.4	56.7	81.2	103.4
Non-controlling interest income	0	0.1	0.2	0.3
Net income attributable to Rexnord	45.4	56.6	81	103.1
Dividends on preferred stock	0	(5.8)	0	(11.6)
Net income attributable to Rexnord common stockholders	$ 45.4	$ 50.8	$ 81	$ 91.5
Basic net income (loss) per share attributable to Rexnord common stockholders:
Continuing operations (in dollars per share)	$ 0.38	$ 0.48	$ 0.67	$ 0.88
Discontinued operations (in dollars per share)	0	0	0	(0.02)
Net income (in dollars per share)	0.38	0.48	0.67	0.87
Diluted net income (loss) per share attributable to Rexnord common stockholders:
Continuing operations (in dollars per share)	0.37	0.46	0.66	0.85
Discontinued operations (in dollars per share)	0	0	0	(0.01)
Net income (in dollars per share)	$ 0.37	$ 0.46	$ 0.66	$ 0.83
Weighted-average number of shares outstanding (in thousands):
Basic (in shares)	120,704	106,007	120,476	105,637
Effect of dilutive equity securities (in shares)	1,803	17,913	2,034	18,004
Diluted (in shares)	122,507	123,920	122,510	123,641

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Income - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Statement of Comprehensive Income [Abstract]
Net income attributable to Rexnord	$ 45.4	$ 56.6	$ 81	$ 103.1
Other comprehensive income:
Foreign currency translation adjustments	13	(15)	19.4	(15.5)
Change in pension and postretirement defined benefit plans, net of tax	(0.1)	(0.1)	(0.2)	0.4
Other comprehensive income, net of tax	12.9	(15.1)	19.2	(15.1)
Non-controlling interest income	0	0.1	0.2	0.3
Comprehensive income	$ 58.3	$ 41.6	$ 100.4	$ 88.3

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Millions	6 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Operating activities
Net income	$ 81.2	$ 103.4
Adjustments to reconcile net income to cash provided by operating activities:
Depreciation	26	25.2
Amortization of intangible assets	18	17.5
Deferred income taxes	(1.5)	2.2
Other non-cash (income) expense	(0.7)	2.4
Gain on the extinguishment of debt	0	(3.2)
Stock-based compensation expense	20.7	12.8
Changes in operating assets and liabilities:
Receivables	38	15.4
Inventories	(34)	(30)
Other assets	0.7	(12.9)
Accounts payable	(31.4)	(31.4)
Accruals and other	(3.2)	(15.1)
Cash provided by operating activities	113.8	86.3
Investing activities
Expenditures for property, plant and equipment	(15.3)	(13.2)
Acquisitions, net of cash acquired	0	(25.1)
Proceeds from dispositions of long-lived assets	7.8	2
Payment associated with divestiture of discontinued operations	0	(1.3)
Cash used for investing activities	(7.5)	(37.6)
Financing activities
Proceeds from borrowings of debt	6	0
Repayments of debt	(331.8)	(5.4)
Proceeds from exercise of stock options	7.2	6.9
Taxes withheld and paid on employees' share-based payment awards	(9.4)	(5.7)
Repurchase of common stock	(15)	0
Payment of common stock dividends	(19.2)	0
Payment of preferred stock dividends	0	(11.6)
Cash used for financing activities	(362.2)	(15.8)
Effect of exchange rate changes on cash and cash equivalents	9.1	(5.6)
(Decrease) increase in cash and cash equivalents	(246.8)	27.3
Cash, cash equivalents and restricted cash at beginning of period	573.4	292.5
Cash, cash equivalents and restricted cash at end of period	$ 326.6	$ 319.8

Basis of Presentation and Signi

Basis of Presentation and Significant Accounting Policies	6 Months Ended
	Sep. 30, 2020
Accounting Policies [Abstract]
Basis of Presentation and Significant Accounting Policies	Basis of Presentation and Significant Accounting Policies The unaudited condensed 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 ("U.S. GAAP") pursuant to the rules and regulations of the Securities and Exchange Commission. Certain information and footnote disclosures normally included in financial statements prepared in accordance with U.S. GAAP have been condensed or omitted pursuant to such rules and regulations, although the Company believes that the disclosures are adequate to make the information presented not misleading. In the opinion of management, the condensed consolidated financial statements include all adjustments necessary for a fair presentation of the results of operations for the interim periods. Following the end of the Company's fiscal year ended March 31, 2020, the Company transitioned to a December 31 fiscal year-end date. The nine-month period from April 1, 2020, to December 31, 2020, is serving as a transition period, and the Company will provide one-time, nine-month transitional financial statements for the transition period in a transition report on Form 10-K to be filed in 2021. Results for the interim periods are not necessarily indicative of results that may be expected for the nine-month transition period ending December 31, 2020. These condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and the notes thereto included in the Company's March 31, 2020 Annual Report on Form 10-K. 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 it the privilege of having long-term, valued relationships with market leaders. The Company operates in a disciplined way and the Rexnord Business System (“RBS”) is its 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 Process & Motion Control platform designs, manufactures, markets and services a comprehensive range of specified, highly-engineered mechanical components used within complex systems where the Company's 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. Recent Accounting Pronouncements In March 2020, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") No. 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting ("ASU 2020-04"). The amendments in this ASU apply only to contracts, hedging relationships, and other transactions that reference LIBOR or another reference rate that is expected to be discontinued because of reference rate reform. The amendments in this update provide optional expedients and exceptions for applying GAAP to contracts, hedging relationships, and other transactions affected by reference rate reform if certain criteria are met. The expedients and exceptions provided by the amendments do not apply to contract modifications made and hedging relationships entered into or evaluated after December 31, 2022, except for hedging relationships existing as of December 31, 2022, that an entity has elected certain optional expedients for and that are retained through the end of the hedging relationship. The amendments in this ASU are effective for all entities as of March 12, 2020, through December 31, 2022. The Company did not modify any material contracts due to reference rate reform during the three and six months ended September 30, 2020. The Company will continue to evaluate the impact this guidance will have on its consolidated financial statements for all future transactions affected by reference rate reform during the time period referenced above. In December 2019, the FASB issued ASU No. 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes ( "ASU 2019-12" ) . The FASB issued this update as part of its initiative to reduce complexity in accounting standards. The amendments in this ASU simplify the accounting for income taxes by removing certain exceptions to the general principles in Topic 740 and also improve consistent application of other areas by clarifying and amending existing guidance. ASU 2019-12 is effective for public business entities with fiscal years beginning after December 15, 2020, and early adoption is permitted. Certain amendments of this ASU may be adopted on a retrospective basis, modified retrospective basis or prospective basis. The Company is currently evaluating the impact this guidance will have on its consolidated financial statements. In June 2016, the FASB issued ASU No. 2016-13, Measurement of Credit Losses on Financial Instruments, which establishes ASC 326, Financial Instruments - Credit Losses . The ASU revises the measurement of credit losses for financial assets measured at amortized cost from an incurred loss methodology to an expected loss methodology. The ASU affects trade receivables, debt securities, net investment in leases, and most other financial assets that represent a right to receive cash. Additional disclosures about significant estimates and credit quality are also required. In November 2018, the FASB issued ASU No. 2018-19, Codification Improvements to Topic 326, Financial Instruments - Credit Losses . This ASU clarifies that receivables from operating leases are accounted for using the lease guidance and not as financial instruments. In May 2019, the FASB issued ASU No. 2019-05, Targeted Transition Relief , which amends ASC 326. This ASU provides an option to irrevocably elect to measure certain individual financial assets at fair value instead of amortized cost. The Company adopted ASU No. 2016-13, as amended, on April 1, 2020, using a modified-retrospective approach. There was no impact to the Company's consolidated financial statements. In August 2018, the FASB issued 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 public business entities with fiscal years beginning after December 15, 2020, on a retroactive basis. This guidance will have no impact on the Company's consolidated financial statements upon adoption other than with respect to the updated disclosure requirements. Reclassifications Certain prior year amounts have been reclassified to conform to the presentation used for the three and six months ended September 30, 2020.

Acquisitions and Divestiture

Acquisitions and Divestiture	6 Months Ended
	Sep. 30, 2020
Business Combinations [Abstract]
Acquisitions and Divestiture	Acquisitions and Divestiture Fiscal Year 2020 On January 28, 2020, the Company acquired substantially all of the assets of Just Manufacturing Company ("Just Manufacturing") for a cash purchase price of $59.4 million, excluding transaction costs and net of cash acquired. Just Manufacturing, based in Franklin Park, Illinois, manufactures stainless steel sinks and plumbing fixtures primarily used in institutional and commercial end markets and complements the Company's existing Water Management platform. On May 10, 2019, the Company acquired substantially all of the assets of East Creek Corporation (d/b/a StainlessDrains.com), a manufacturer of stainless steel drains, grates and accessories for industrial and commercial end markets, for a cash purchase price of $24.8 million, excluding transaction costs and net of cash acquired. StainlessDrains.com, headquartered in Greenville, Texas, added complementary product lines to the Company's existing Water Management platform. The fiscal 2020 acquisitions have been accounted for as business combinations and were recorded by allocating the purchase price to the fair value of the assets acquired and liabilities assumed at the acquisition date. The excess of the purchase price over the fair value assigned to the assets acquired and liabilities assumed was recorded as goodwill. The purchase price allocations associated with these acquisitions resulted in tax deductible goodwill of $27.2 million, other intangible assets of $40.9 million (including tradenames of $2.2 million and $38.7 million of customer relationships), $8.4 million of fixed assets, $9.1 million of trade working capital and other net liabilities of $1.4 million. The preliminary purchase price allocations for Just Manufacturing were adjusted during the six months ended September 30, 2020, resulting in a $0.7 million increase in goodwill related to the refinement of the estimated fair value of the liabilities assumed as of the acquisition date. The Company is continuing to evaluate the preliminary purchase price allocations for Just Manufacturing related to the fair value assigned to intangible assets and net working capital acquired, which will be completed within the one year period following its acquisition date. The purchase price allocations for StainlessDrains.com were finalized during fiscal 2020. During fiscal 2020, the Company acquired the remaining non-controlling interest in a Process and Motion Control joint venture for a cash purchase price of $0.3 million. The acquisition of the remaining minority interest was not material to the Company's condensed consolidated statements of operations or financial position. 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 fiscal 2020 acquisitions have not been presented because they are not significant to the Company's condensed consolidated statements of operations or financial position. Divestiture

Restructuring and Other Similar

Restructuring and Other Similar Charges	6 Months Ended
	Sep. 30, 2020
Restructuring and Related Activities [Abstract]
Restructuring and Other Similar Charges	Restructuring and Other Similar ChargesDuring the three months and six months ended September 30, 2020, 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 initiatives and select product-line rationalizations to optimize its operating margin and manufacturing footprint. As the Company continues to evaluate the impact of the ongoing COVID-19 pandemic and the resulting effects on the global economy, the Company may also execute additional restructuring actions. As such, the Company expects further expenses related to workforce reductions, lease termination costs, and other facility rationalization costs. Since the Company’s evaluation of the impacts of COVID-19 and other potential restructuring actions are in process, related restructuring expenses, if any, are not yet estimable. The following table summarizes the Company's restructuring and other similar charges during the three and six months ended September 30, 2020 and September 30, 2019, by classification of operating segment (in millions): Restructuring and Other Similar Charges Process & Motion Control Water Management Corporate Consolidated Employee termination benefits $ 5.6 $ 0.1 $ — $ 5.7 Contract termination and other associated costs 1.1 — (0.2) 0.9 Total restructuring and other similar costs $ 6.7 $ 0.1 $ (0.2) $ 6.6 Restructuring and Other Similar Charges Process & Motion Control Water Management Corporate Consolidated Employee termination benefits $ 5.8 $ 1.0 $ 0.1 $ 6.9 Contract termination and other associated costs 1.6 — (0.2) 1.4 Total restructuring and other similar costs $ 7.4 $ 1.0 $ (0.1) $ 8.3 Restructuring and Other Similar Charges Process & Motion Control Water Management Corporate Consolidated Employee termination benefits $ 1.8 $ 0.1 $ — $ 1.9 Contract termination and other associated costs 0.2 — — 0.2 Total restructuring and other similar costs $ 2.0 $ 0.1 $ — $ 2.1 Restructuring and Other Similar Charges Process & Motion Control Water Management Corporate Consolidated Employee termination benefits $ 4.4 $ 0.4 $ — $ 4.8 Contract termination and other associated costs 0.5 — — 0.5 Total restructuring and other similar costs $ 4.9 $ 0.4 $ — $ 5.3 The following table summarizes the activity in the Company's restructuring accrual for the six months ended September 30, 2020 (in millions): Employee termination benefits Contract termination and other associated costs Total Restructuring accrual, March 31, 2020 (1) $ 8.3 $ 1.5 $ 9.8 Charges 6.9 1.4 8.3 Cash payments (6.5) (1.9) (8.4) Restructuring accrual, September 30, 2020 (1) $ 8.7 $ 1.0 $ 9.7 ____________________ (1) The restructuring accrual is included in other current liabilities in the condensed consolidated balance sheets. 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. As a result, the Company recognized accelerated depreciation of $0.2 million and $0.6 million during the three and six months ended September 30, 2020, and $0.7 million and $1.3 million during the three and six months ended September 30, 2019, respectively. Accelerated depreciation is recorded within Cost of sales in the condensed consolidated statements of operations.

Discontinued Operations

Discontinued Operations	6 Months Ended
	Sep. 30, 2020
Discontinued Operations and Disposal Groups [Abstract]
Discontinued Operations	Discontinued OperationsDuring fiscal 2019, the Company completed the sale 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 condensed consolidated statements of operations, as the sale of VAG represented a strategic shift that had a major impact on operations and financial results. The sale price was subject to customary working capital and cash balance adjustments, which were finalized in fiscal 2020. As a result of these adjustments and other related costs, the Company recognized an additional $1.8 million loss on the sale of discontinued operations during the six months ended September 30, 2019.

Revenue Recognition

Revenue Recognition	6 Months Ended
	Sep. 30, 2020
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, Revenue from Contracts with Customers ("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 condensed 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 condensed consolidated statements of operations. Revenue by Category The Company has two business segments, Process & Motion Control and Water Management. The following tables present our revenue disaggregated by customer type and originating geography (in millions): Three Months Ended Six Months Ended September 30, 2020 September 30, 2019 September 30, 2020 September 30, 2019 Original equipment manufacturers/end users $ 177.6 $ 204.9 $ 336.0 $ 406.4 Maintenance, repair, and operations 116.3 132.1 232.3 260.7 Total Process & Motion Control $ 293.9 $ 337.0 $ 568.3 $ 667.1 Water safety, quality, flow control and conservation $ 187.2 $ 171.7 $ 350.4 $ 336.7 Water infrastructure 12.5 12.6 24.0 25.8 Total Water Management $ 199.7 $ 184.3 $ 374.4 $ 362.5 Three Months Ended Six Months Ended Process & Motion Control Water Management Process & Motion Control Water Management United States and Canada $ 168.6 $ 194.7 $ 337.7 $ 366.6 Europe 75.7 — 141.4 — Rest of world 49.6 5.0 89.2 7.8 Total $ 293.9 $ 199.7 $ 568.3 $ 374.4 Three Months Ended Six Months Ended Process & Motion Control Water Management Process & Motion Control Water Management United States and Canada $ 216.6 $ 180.4 $ 431.0 $ 355.2 Europe 73.3 — 145.7 — Rest of world 47.1 3.9 90.4 7.3 Total $ 337.0 $ 184.3 $ 667.1 $ 362.5 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 condensed consolidated balance sheets. The following table presents changes in the Company’s contract assets and liabilities during the six months ended September 30, 2020 (in millions): Balance Sheet Classification March 31, 2020 Additions Deductions September 30, 2020 Contract assets Receivables, net $ 0.5 $ 0.1 $ (0.5) $ 0.1 Contract liabilities (1) Other current liabilities $ 7.3 $ 4.6 $ (5.0) $ 6.9 ____________________ (1) Contract liabilities are reduced when revenue is recognized. Backlog The Company has a backlog of $353.3 million as of September 30, 2020, 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 62% of the unsatisfied performance obligations as revenue in the remaining three months in the transition period ending December 31, 2020, and the remaining approximately 38% in 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 September 30, 2020, the contract assets capitalized, as well as amortization recognized in both the three and six months ended September 30, 2020, are not significant and there have been no impairment losses recognized. Allowance for Doubtful Accounts

Income Taxes

Income Taxes	6 Months Ended
	Sep. 30, 2020
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The provision for income taxes for all periods presented is based on an estimated effective income tax rate for the respective fiscal years. The estimated annual effective income tax rate is determined excluding the effect of significant discrete items or items that are reported net of their related tax effects. The tax effect of significant discrete items is reflected in the period in which they occur. The Company's income tax expense is impacted by a number of factors, including the amount of taxable earnings derived in foreign jurisdictions with tax rates that are generally higher than the U.S. federal statutory rate, state tax rates in the jurisdictions where the Company does business and the Company's ability to utilize various tax credits, capital loss and net operating loss (“NOL”) carryforwards. The Company regularly reviews its deferred tax assets 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 deemed appropriate. In addition, all other available positive and negative evidence is taken into consideration for purposes of determining the proper balances of such valuation allowances. As a result of this review, the Company continues to maintain a full valuation allowance against U.S. federal and state capital loss carryforwards and 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. Future changes to the balances of these valuation allowances, as a result of this continued review and analysis by the Company, could result in a material impact to the financial statements for such period of change. The income tax provision was $16.1 million in the three months ended September 30, 2020, compared to $19.5 million in the three months ended September 30, 2019. The effective income tax rate for the three months ended September 30, 2020 was 26.2% versus 25.6% in the three months ended September 30, 2019. The effective income tax rate for the three months ended September 30, 2020 was above the U.S. federal statutory rate of 21% primarily due to the accrual of foreign income taxes, which are generally above the U.S. federal statutory rate, the accrual of additional income taxes associated with global intangible low-taxed income (“GILTI”) and compensation deduction limitations under Section 162(m) of the Internal Revenue Code, and the accrual of various state income taxes, partially offset by the recognition of income tax benefits associated with foreign-derived intangible income (“FDII”). The effective income tax rate for the three months ended September 30, 2019 was above the U.S. federal statutory rate of 21% primarily due to the accrual of foreign income taxes, which are generally above the U.S. federal statutory rate, the accrual of additional income taxes associated with GILTI and the accrual of various state income taxes, partially offset by the recognition of certain previously unrecognized tax benefits due to the lapse of the applicable statutes of limitations and the recognition of income tax benefits associated with FDII. The income tax provision was $33.3 million in the six months ended September 30, 2020, compared to $34.3 million in the six months ended September 30, 2019. The effective income tax rate for the six months ended September 30, 2020 was 29.1% versus 24.6% in the six months ended September 30, 2019. The effective income tax rate for the six months ended September 30, 2020 was above the U.S. federal statutory rate of 21% primarily due to the accrual of foreign income taxes, which are generally above the U.S. federal statutory rate, the accrual of additional income taxes associated with GILTI and compensation deduction limitations under Section 162(m) of the Internal Revenue Code, the accrual of withholding taxes associated with foreign dividends, and the accrual of various state income taxes, partially offset by the recognition of certain previously unrecognized tax benefits due to the lapse of the applicable statutes of limitations and the recognition of income tax benefits associated with share-based payments and FDII. The effective income tax rate for the six months ended September 30, 2019 was above the U.S. federal statutory rate of 21% primarily due to the accrual of foreign income taxes, which are generally above the U.S. federal statutory rate, the accrual of additional income taxes associated with GILTI and the accrual of various state income taxes, partially offset by the recognition of certain previously unrecognized tax benefits due to the lapse of the applicable statutes of limitations and the recognition of income tax benefits associated with share-based payments and FDII. The Company’s total liability for net unrecognized tax benefits as of September 30, 2020 and March 31, 2020, was $15.7 million and $14.8 million, respectively. The Company recognizes accrued interest and penalties related to unrecognized income tax benefits in income tax expense. As of September 30, 2020 and March 31, 2020, the total amount of gross, unrecognized income tax benefits included $1.7 million and $1.5 million of accrued interest and penalties, respectively. The Company recognized $0.1 million of net interest and penalties as income tax expense during both the six months ended September 30, 2020 as well as for the six months ended September 30, 2019. 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. The Company is currently undergoing an income tax examination by the Internal Revenue Service (the “IRS”) of the Company’s U.S. consolidated federal income tax returns for the tax years ended March 31, 2016 and 2017. During the fourth quarter of fiscal 2020, the German tax authorities concluded an examination of the corporate income and trade tax returns for the Company’s CENTA German subsidiary for the tax years ended December 31, 2014 through December 31, 2017. The conclusion of the tax examination resulted in additional tax liabilities of approximately $1.7 million, all of which is subject to indemnification under the terms of the applicable purchase agreement or otherwise appropriately accrued in the Company’s financial statements. During the three months ended March 31, 2020, the Italian tax authorities began conducting an income tax examination of the income tax returns of one of the Company’s Italian subsidiaries for the tax year ended March 31, 2018. In addition, certain of the Company’s German subsidiaries were notified by the German tax authorities of their intention to conduct an income tax examination of such subsidiaries’ German corporate income and trade tax returns for the tax years or period ended March 31, 2015 through March 31, 2018. The Company anticipates the related fieldwork will begin during the three months ending December 31, 2020. In addition, in accordance with the terms of the VAG sale agreement, the Company is required to indemnify the purchaser for any future income tax liabilities associated with all open tax years ending prior to, and including, the short period ended on the date of the Company's sale of VAG. VAG was notified by the German tax authorities of its intention to conduct an income tax examination of the VAG German entities’ corporate income and trade tax returns for the tax years ended March 31, 2014 through 2019. The Company anticipates the related fieldwork will begin during the three months ending December 31, 2020. During the three months ended September 30, 2018, 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. 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 2016 or significant foreign income tax examinations for years ending prior to fiscal 2015 .

Earnings per Share

Earnings per Share	6 Months Ended
	Sep. 30, 2020
Earnings Per Share [Abstract]
Earnings per Share	Earnings per Share The following table presents the basis for income per share computations (in millions, except share amounts): Three Months Ended Six Months Ended September 30, 2020 September 30, 2019 September 30, 2020 September 30, 2019 Basic net income per share attributable to Rexnord common stockholders Numerator: Net income from continuing operations $ 45.4 $ 56.7 $ 81.2 $ 105.2 Less: Non-controlling interest income — 0.1 0.2 0.3 Less: Dividends on preferred stock — 5.8 — 11.6 Net income from continuing operations attributable to Rexnord common stockholders $ 45.4 $ 50.8 $ 81.0 $ 93.3 Loss from discontinued operations, net of tax $ — $ — $ — $ (1.8) Net income attributable to Rexnord common stockholders $ 45.4 $ 50.8 $ 81.0 $ 91.5 Denominator: Weighted-average common shares outstanding, basic 120,704 106,007 120,476 105,637 Diluted net income per share attributable to Rexnord common stockholders Numerator: Net income from continuing operations $ 45.4 $ 56.7 $ 81.2 $ 105.2 Less: Non-controlling interest income — 0.1 0.2 0.3 Less: Dividends on preferred stock — — — — Net income from continuing operations attributable to Rexnord common stockholders $ 45.4 $ 56.6 $ 81.0 $ 104.9 Loss from discontinued operations, net of tax $ — $ — $ — $ (1.8) Net income attributable to Rexnord common stockholders $ 45.4 $ 50.8 $ 81.0 $ 91.5 Plus: Dividends on preferred stock — 5.8 — 11.6 Net income attributable to Rexnord common stockholders $ 45.4 $ 56.6 $ 81.0 $ 103.1 Denominator: Weighted-average common shares outstanding, basic 120,704 106,007 120,476 105,637 Effect of dilutive equity securities 1,803 1,934 2,034 2,025 Preferred stock under the "if-converted" method (1) — 15,979 — 15,979 Weighted-average common shares outstanding, diluted 122,507 123,920 122,510 123,641 ____________________ (1) On November 15, 2019, the Company issued 15,980,050 shares of common stock upon the mandatory conversion of Series A Preferred Stock; see Note 8, Stockholders' Equity for additional information.

Stockholders' Equity

Stockholders' Equity	6 Months Ended
	Sep. 30, 2020
Stockholders' Equity Note [Abstract]
Stockholders' Equity	Stockholders' Equity Stockholders' equity consists of the following (in millions): Common stock Preferred stock Additional paid-in capital Retained earnings Accumulated other comprehensive loss Non-controlling interest (2) Total stockholders’ equity Balance at March 31, 2019 $ 1.0 $ — $ 1,293.5 $ 30.7 $ (96.6) $ 2.4 $ 1,231.0 Total comprehensive income — — — 46.5 — 0.2 46.7 Stock-based compensation expense — — 6.9 — — — 6.9 Proceeds from exercise of stock options — — 4.8 — — — 4.8 Taxes withheld and paid on employees' share-based payment awards — — (5.7) — — — (5.7) Preferred stock dividends ($14.375 per share) — — — (5.8) — — (5.8) Balance at June 30, 2019 1.0 — 1,299.5 71.4 (96.6) 2.6 1,277.9 Total comprehensive income (loss) — — — 56.6 (15.1) 0.1 41.6 Stock-based compensation expense — — 5.9 — — — 5.9 Proceeds from exercise of stock options — — 2.1 — — — 2.1 Acquisition of non-controlling interest — — (0.3) — — — (0.3) Preferred stock dividends ($14.375 per share) — — — (5.8) — — (5.8) Balance at September 30, 2019 $ 1.0 $ — $ 1,307.2 $ 122.2 $ (111.7) $ 2.7 $ 1,321.4 Common stock (1) Preferred stock Additional Retained Accumulated Non-controlling interest (2) Total Balance at March 31, 2020 $ 1.2 $ — $ 1,348.3 $ 85.9 $ (124.4) $ 2.7 $ 1,313.7 Total comprehensive income — — — 35.6 6.3 0.2 42.1 Stock-based compensation expense — — 10.6 — — — 10.6 Proceeds from exercise of stock options — — 6.3 — — — 6.3 Taxes withheld and paid on employees' share-based payment awards — — (9.4) — — — (9.4) Common stock dividends ($0.08 per share) — — — (9.6) — — (9.6) Balance at June 30, 2020 1.2 — 1,355.8 111.9 (118.1) 2.9 1,353.7 Total comprehensive income — — — 45.4 12.9 — 58.3 Stock-based compensation expense — — 10.1 — — — 10.1 Proceeds from exercise of stock options — — 0.9 — — — 0.9 Repurchase of common stock (3) — — — (15.0) — — (15.0) Common stock dividends ($0.08 per share) — — — (9.6) — — (9.6) Balance at September 30, 2020 $ 1.2 $ — $ 1,366.8 $ 132.7 $ (105.2) $ 2.9 $ 1,398.4 ____________________ (1) For the three and six months ended September 30, 2020, the Company issued 92,462 and 1,029,014 shares of common stock upon the exercise of stock options, vesting of restricted stock units and performance stock units, and for other common stock awards. (2) During the first quarter of fiscal 2020, represents a 30% non-controlling interest in two Process & Motion Control controlled subsidiaries. During the second quarter of fiscal 2020, the Company acquired the remaining 30% non-controlling interest associated with one of the aforementioned Process & Motion Control joint ventures for a cash purchase price of $0.3 million. Following this transaction, represents a 30% non-controlling interest in the remaining Process & Motion Control controlled subsidiary and a 5% non-controlling interest in another Process & Motion Control controlled subsidiary. (3) During the three and six months ended September 30, 2020, the Company repurchased and canceled 500,050 shares of common stock at a total cost of $15.0 million at a weighted average price of $30.02 per share. See "Share Repurchase Program" below. Preferred Stock On November 15, 2019, 402,500 shares of 5.75% Series A Mandatory Convertible Preferred Stock (the "Series A Preferred Stock") automatically converted into 15,980,050 shares of the Company's common stock. The number of shares of common stock issued upon conversion was determined based on a defined average volume weighted average price per share of the Company’s common stock. Upon conversion, there were no shares of Series A Preferred Stock outstanding. The final dividend payment was made on November 15, 2019. Share Repurchase Program

Accumulated Other Comprehensive

Accumulated Other Comprehensive Loss	6 Months Ended
	Sep. 30, 2020
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
Accumulated Other Comprehensive Loss	Accumulated Other Comprehensive Loss The changes in accumulated other comprehensive loss, net of tax, for the six months ended September 30, 2020, are as follows (in millions): Foreign Currency Translation Pension and Postretirement Plans Total Balance at March 31, 2020 $ (83.8) $ (40.6) $ (124.4) Other comprehensive income before reclassifications 19.4 — 19.4 Amounts reclassified from accumulated other comprehensive loss — (0.2) (0.2) Net current period other comprehensive income (loss) 19.4 (0.2) 19.2 Balance at September 30, 2020 $ (64.4) $ (40.8) $ (105.2) The following table summarizes the amounts reclassified from accumulated other comprehensive loss to net income during the three and six months ended September 30, 2020 and September 30, 2019 (in millions): Three Months Ended Six Months Ended September 30, 2020 September 30, 2019 September 30, 2020 September 30, 2019 Income Statement Line Pension and other postretirement plans Amortization of prior service credit $ (0.1) $ (0.1) $ (0.2) $ (0.2) Other income (expense), net Settlement — — — 0.8 Other income (expense), net Benefit for income taxes — — — (0.2) Total net of tax $ (0.1) $ (0.1) $ (0.2) $ 0.4

Inventories

Inventories	6 Months Ended
	Sep. 30, 2020
Inventory, Net [Abstract]
Inventories	Inventories The major classes of inventories are summarized as follows (in millions): September 30, 2020 March 31, 2020 Finished goods $ 173.1 $ 145.6 Work in progress 46.9 43.7 Purchased components 73.8 70.4 Raw materials 58.5 54.9 Inventories at First-in, First-Out ("FIFO") cost 352.3 314.6 Adjustment to state inventories at Last-in, First-Out ("LIFO") cost 3.4 2.9 $ 355.7 $ 317.5

Goodwill and Intangible Assets

Goodwill and Intangible Assets	6 Months Ended
	Sep. 30, 2020
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 six months ended September 30, 2020, by operating segment are presented below (in millions): Process & Motion Control Water Management Consolidated Net carrying amount as of March 31, 2020 $ 1,121.4 $ 200.5 $ 1,321.9 Currency translation adjustments 3.1 0.5 3.6 Purchase accounting adjustments (1) — 0.7 0.7 Net carrying amount as of September 30, 2020 $ 1,124.5 $ 201.7 $ 1,326.2 ____________________ (1) Refer to Note 2, Acquisitions and Divestiture for additional information regarding acquisitions. The gross carrying amount and accumulated amortization for each major class of identifiable intangible assets as of September 30, 2020 and March 31, 2020 are as follows (in millions): September 30, 2020 Weighted Average Useful Life Gross Carrying Amount Accumulated Amortization Net Carrying Amount Intangible assets subject to amortization: Patents 10 years $ 51.4 $ (41.8) $ 9.6 Customer relationships (including distribution network) 13 years 751.2 (569.2) 182.0 Tradenames 13 years 42.7 (16.1) 26.6 Intangible assets not subject to amortization - tradenames 280.9 — 280.9 Total intangible assets, net 13 years $ 1,126.2 $ (627.1) $ 499.1 March 31, 2020 Weighted Average Useful Life Gross Carrying Amount Accumulated Amortization Net Carrying Amount Intangible assets subject to amortization: Patents 10 years $ 51.1 $ (41.2) $ 9.9 Customer relationships (including distribution network) 13 years 748.0 (552.5) 195.5 Tradenames 13 years 42.1 (14.2) 27.9 Intangible assets not subject to amortization - tradenames 280.9 — 280.9 Total intangible assets, net 13 years $ 1,122.1 $ (607.9) $ 514.2 Intangible asset amortization expense totaled $9.0 million and $18.0 million for the three and six months ended September 30, 2020. Intangible asset amortization expense totaled $8.8 million and $17.5 million for the three and six months ended September 30, 2019. No intangible assets were acquired during the three months and six months ended September 30, 2020. The Company expects to recognize amortization expense on the intangible assets subject to amortization of $26.9 million in the nine months ending December 31, 2020 (inclusive of $18.0 million of amortization expense recognized in the six months ended September 30, 2020), $34.6 million in 2021, $18.8 million in 2022, $16.3 million in 2023, $16.3 million in 2024 and $15.2 million in 2025.

Other Current Liabilities

Other Current Liabilities	6 Months Ended
	Sep. 30, 2020
Other Liabilities Disclosure [Abstract]
Other Current Liabilities	Other Current Liabilities Other current liabilities are summarized as follows (in millions): September 30, 2020 March 31, 2020 Contract liabilities $ 6.9 $ 7.3 Sales rebates 34.0 35.5 Commissions 6.9 7.0 Restructuring and other similar charges (1) 9.7 9.8 Product warranty (2) 8.3 6.7 Risk management (3) 10.8 10.4 Legal and environmental 2.0 1.5 Taxes, other than income taxes 8.2 8.3 Income tax payable 17.8 9.9 Interest payable 7.6 8.3 Current portion of operating lease liability (4) 12.1 12.8 Other 22.6 11.0 $ 146.9 $ 128.5 ____________________ (1) See more information related to the restructuring obligations within Note 3, Restructuring and Other Similar Charges. (2) See more information related to the product warranty obligations within Note 16, Commitments and Contingencies. (3) Includes projected liabilities related to losses arising from automobile, general and product liability claims. (4) See more information related to leases within Note 18, Leases.

Long-Term Debt

Long-Term Debt	6 Months Ended
	Sep. 30, 2020
Debt Disclosure [Abstract]
Long-Term Debt	Long-Term Debt Long-term debt is summarized as follows (in millions): September 30, 2020 March 31, 2020 Term loan (1) $ 621.3 $ 620.8 4.875% Senior Notes due 2025 (2) 496.1 495.7 Revolving credit facility (3) — 249.2 Securitization facility borrowings (4) — 74.9 Finance leases and other subsidiary debt (5) 78.4 32.8 Total 1,195.8 1,473.4 Less current maturities 3.2 76.4 Long-term debt $ 1,192.6 $ 1,397.0 ____________________ (1) Includes unamortized debt issuance costs of $3.7 million and $4.2 million at September 30, 2020 and March 31, 2020, respectively. (2) Includes unamortized debt issuance costs of $3.9 million and $4.3 million at September 30, 2020 and March 31, 2020, respectively. (3) Includes unamortized debt issuance costs of $0.8 million at March 31, 2020. (4) Includes unamortized debt issuance costs of $0.1 million at March 31, 2020. (5) See more information related to finance leases within Note 18, Leases. Senior Secured Credit Facility At September 30, 2020, 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) a $725.0 million term loan facility, which was reduced to $625.0 million as a result of a December 2019 voluntary prepayment, and (ii) a $264.0 million revolving credit facility. The term loan facility 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. At September 30, 2020 , the borrowings under the Term Loan had a weighted-average effective interest rate of 1.90%. The weighted-average interest rate for borrowings under the Term Loan for the six months ended September 30, 2020 , was 2.09%. At September 30, 2020, no amounts were borrowed under the revolving credit facility. As of March 31, 2020, $250.0 million was borrowed under the revolving credit facility. As of and during the six months ended September 30, 2020 , borrowings under the revolving credit facility had weighted-average effective interest rate s of 4.00%. As of September 30, 2020 and March 31, 2020, $2.8 million and $4.7 million of the revolving credit facility were considered utilized in connection with outstanding letters of credit, respectively. As of September 30, 2020 , 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 September 30, 2020 . 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. Accounts Receivable Securitization Program On September 25, 2020, certain subsidiaries of the Company entered into an accounts receivable securitization facility (the “New Securitization”) with Mizuho Bank, Ltd. (“Mizuho”) to replace the Company’s previous $100.0 million accounts receivable securitization facility with Wells Fargo & Company (the “Previous Securitization” and, collectively with the New Securitization, referred to as the “Securitization”), which was scheduled to expire in December 2020.1 As part of the New Securitization, Rexnord Industries, LLC, Zurn Industries, LLC, Zurn PEX, Inc., Precision Gear LLC, Centa Corporation and Cambridge International, Inc. (collectively, the “Originators”) agreed, pursuant to an Amended and Restated Receivables Sale and Servicing Agreement, dated as of September 25, 2020 (the “Sale Agreement”), to sell all of their existing and future accounts receivable and related assets to Rexnord Funding LLC (“Rexnord Funding”), a bankruptcy-remote special purpose entity, in exchange for cash, subordinated notes and letters of credit. The Originators and Rexnord Funding intend for the transactions contemplated by the Sale Agreement to constitute true sales to Rexnord Funding by the respective Originators. In addition to being an Originator, Rexnord Industries, LLC is also the current servicer under the Sale Agreement. Concurrently with the execution of the Sale Agreement, Rexnord Funding entered into a Receivables Funding and Administration Agreement (the “Funding Agreement”) with Mizuho, as a lender and administrative agent. Pursuant to the Funding Agreement, Rexnord Funding granted Mizuho 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 will be used by Rexnord Funding to finance purchases of accounts receivable from the Originators pursuant to the Sale Agreement. The amount of advances available is 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 1.30% per annum. The last date on which advances may be made is September 24, 2021, with a six-month extension option, unless the maturity of the New Securitization is otherwise accelerated. In addition to other customary fees associated with financings of this type, Rexnord Funding pays an unused line fee of 0.40% per annum to Mizuho based on any unused portion of the New Securitization. The New Securitization constitutes a “Permitted Receivables Financing” under the Company’s existing credit agreement and a “Qualified Receivables Financing” under the indenture governing the Company’s outstanding senior notes. The New Securitization does not qualify for sale accounting under Accounting Standards Codification Topic 860, Transfers and Servicing. Any borrowings under the New Securitization will be accounted for as secured borrowings on the Company’s consolidated balance sheets. Financing costs associated with the New Securitization will be recorded within “Interest expense, net” in the consolidated statements of operations if revolving loans or letters of credit are obtained under the New Securitization. At both September 30, 2020 and March 31, 2020, the Company's total borrowing capacity under the Securitization was $100.0 million based on the then-current accounts receivables balances. As of September 30, 2020 and March 31, 2020, $0.0 million and $75.0 million were borrowed under the Securitization. In addition, $6.1 million and $5.7 million of available borrowing capacity under the Securitization was considered utilized in connection with outstanding letters of credit at September 30, 2020 and March 31, 2020, respectively. As of and during the six months ended September 30, 2020 , borrowings under the Securitization had weighted-average and effective interest rate s of 1.37% and 1.56%, respectively. As of September 30, 2020, the Company was in compliance with all applicable covenants and performance ratios contained in the Securitization. See Note 11, Long-Term Debt to the audited consolidated financial statements of the Company's March 31, 2020 Annual Report on Form 10-K for further information regarding long-term debt.

Derivative Financial Instrument

Derivative Financial Instruments	6 Months Ended
	Sep. 30, 2020
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. The Company currently selectively uses foreign currency forward exchange contracts to manage its foreign currency 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, Derivatives and Hedging (“ASC 815”), and as such were marked to market through earnings. The amounts recorded on the condensed consolidated balance sheets and recognized within the condensed consolidated statements of operations related to the Company's foreign currency forward contracts for the three and six months ended September 30, 2020 and 2019, were not material.

Fair Value Measurements

Fair Value Measurements	6 Months Ended
	Sep. 30, 2020
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 Financial Instruments The Company has a nonqualified deferred compensation plan where assets are invested in mutual funds and corporate-owned life insurance contracts held in a rabbi trust, which is restricted for payments to participants of the plan. The Company has elected to use the fair value option for the mutual funds, which are measured using quoted prices of identical instruments in active markets categorized as Level 1. 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 categorized as Level 2. The deferred compensation assets are classified within other assets on the condensed consolidated balance sheets. Deferred compensation liabilities are measured at fair value based on quoted prices of identical instruments to the investment vehicles selected by the participants categorized as Level 1. Deferred compensation liabilities are classified within other liabilities on the condensed consolidated balance sheets. 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 September 30, 2020 and March 31, 2020 (in millions): Fair Value as of September 30, 2020 Level 1 Level 2 Level 3 Total Deferred compensation assets $ 3.1 $ 6.8 $ — $ 9.9 Deferred compensation liabilities 10.3 — — 10.3 Fair Value as of March 31, 2020 Level 1 Level 2 Level 3 Total Deferred compensation assets $ 1.7 $ 5.5 $ — $ 7.2 Deferred compensation liabilities 7.4 — — 7.4 There were no transfers of assets between levels at September 30, 2020 and March 31, 2020, respectively. Fair Value of Non-Derivative Financial Instruments

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Sep. 30, 2020
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Warranties: The Company offers warranties on the sales of certain 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 (in millions): Six Months Ended September 30, 2020 September 30, 2019 Balance at beginning of period $ 6.7 $ 7.2 Charged to operations 2.6 0.9 Claims settled (1.0) (1.0) Balance at end of period $ 8.3 $ 7.1 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. In early 2020, Rexnord Industries entered into an administrative order with the USEPA to do remediation work on its Downers Grove property. 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, including the costs of the remediation work pursuant to the 2020 administrative order, 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 September 30, 2020, Zurn and numerous other unrelated companies were defendants in approximately 6,000 asbestos related lawsuits representing approximately 7,000 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 September 30, 2020, 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 $50.0 million, of which Zurn expects its insurance carriers to pay approximately $38.0 million in the next ten years on such claims, with the balance of the estimated liability being paid in subsequent years. The $50.0 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 condensed consolidated balance sheets. Management estimates that its available insurance to cover this potential asbestos liability as of September 30, 2020, is in excess of the 10 year estimated exposure, and accordingly, believes that all current claims are covered by insurance. As of September 30, 2020, the Company had a recorded receivable from its insurance carriers of $50.0 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

Retirement Benefits

Retirement Benefits	6 Months Ended
	Sep. 30, 2020
Retirement Benefits [Abstract]
Retirement Benefits	Retirement Benefits The components of net periodic benefit cost are as follows (in millions): Three Months Ended Six Months Ended September 30, 2020 September 30, 2019 September 30, 2020 September 30, 2019 Pension Benefits: Service cost $ 0.2 $ 0.1 $ 0.3 $ 0.2 Interest cost 4.7 5.4 9.3 11.0 Expected return on plan assets (4.7) (5.6) (9.3) (11.3) Settlement — — — 0.8 Net periodic benefit cost $ 0.2 $ (0.1) $ 0.3 $ 0.7 Other Postretirement Benefits: Interest cost $ 0.2 $ 0.1 $ 0.3 $ 0.3 Amortization: Prior service credit (0.1) (0.1) (0.2) (0.2) Net periodic benefit cost $ 0.1 $ — $ 0.1 $ 0.1 The service cost component of net periodic benefits is presented within Cost of sales and Selling, general and administrative expenses in the condensed consolidated statements of operations, while the other components of net periodic benefit cost are presented within Other (expense) income, net. During the six months ended September 30, 2020 and September 30, 2019, the Company made contributions of $6.0 million and $0.2 million, respectively, to its U.S. qualified pension plan trusts. During fiscal 2019, the Company offered participants in a domestic defined benefit plan the opportunity to receive a lump sum settlement as part of the termination process for that plan. During the first quarter of fiscal 2020, the obligations associated with the individuals that did not accept the lump sum settlement offer were transferred to an insurance company through the purchase of an annuity. The Company's cash contribution to purchase the annuity contract was $3.9 million. Following the purchase of the annuity contract, the Company had no remaining obligations to participants of this plan. The termination of this plan resulted in the recognition of $0.0 million and $0.8 million non-cash pre-tax losses during the three and six months ended September 30, 2019. See Note 16, Retirement Benefits, to the audited consolidated financial statements of the Company's March 31, 2020 Annual Report on Form 10-K for further information regarding retirement benefits.

Leases

Leases	6 Months Ended
	Sep. 30, 2020
Leases [Abstract]
Leases	Leases The Company determines if a contract is (or contains) a lease at inception by evaluating whether the contract conveys the right to control the use of an identified asset. The Company has operating and finance leases primarily associated with real estate, automobiles and manufacturing and office equipment. The Company has lease agreements that include lease and non-lease components, which the Company has elected to account for as a single lease component for all classes of the underlying assets. The term of the Company’s leases generally reflects the non-cancellable period of the lease. Some of the Company’s lease agreements include options to extend or terminate the lease, which are excluded from the minimum lease terms unless the Company is reasonably certain the option will be exercised. Lease expense for operating leases and amortization expense for finance leases is recognized on a straight-line basis over the lease term. Leases with an initial term of 12 months or less are not recorded on the condensed consolidated balance sheets and are instead recognized on a straight-line basis over the lease term Right-of-use (“ROU”) assets and liabilities are recognized in the condensed consolidated balance sheets based on the present value of remaining lease payments over the lease term. Additionally, ROU assets include any lease payments made at or ROU assets and lease liability balances recorded on the condensed consolidated balance sheets are summarized as follows (in millions): Leases Classification September 30, 2020 March 31, 2020 Assets: Operating ROU assets Other assets $ 65.6 $ 71.1 Finance ROU assets Property, plant and equipment, net (1) 72.5 27.3 Total ROU assets $ 138.1 $ 98.4 Liabilities: Current Operating Other current liabilities $ 12.1 $ 12.8 Finance Current maturities of debt 2.1 0.5 Non-current Operating Other liabilities 58.3 63.1 Finance Long-term debt 71.8 27.4 Total lease liabilities $ 144.3 $ 103.8 ____________________ (1) Finance lease assets are recorded net of accumulated amortization of $2.4 million and $1.0 million as of September 30, 2020 and March 31, 2020, respectively. The components of lease expense reported in the condensed consolidated statements of operations are as follows (in millions): Three Months Ended Six Months Ended September 30, 2020 September 30, 2019 September 30, 2020 September 30, 2019 Operating lease expenses (1) $ 4.4 $ 3.7 $ 8.9 $ 7.3 Finance lease expenses: Depreciation of finance ROU assets (1) 1.1 0.3 1.4 0.5 Interest on lease liabilities (2) 1.0 0.4 1.4 0.7 Total finance lease expense 2.1 0.7 2.8 1.2 Variable and short-term lease expense (1) 1.6 1.1 2.7 2.3 Total lease expense $ 8.1 $ 5.5 $ 14.4 $ 10.8 ____________________ (1) Included in cost of sales and selling, general and administrative expenses. (2) Included in interest expense, net. Future minimum lease payments under operating and finance leases as of September 30, 2020 are as follows (in millions): Years ending December 31, Operating Leases (1) Finance Leases (1) 2020 (through December 31, 2020) $ 2.4 $ 1.0 2021 14.5 6.1 2022 14.8 6.2 2023 12.1 6.2 2024 10.1 6.3 Thereafter 31.6 95.3 Total future minimum lease payments 85.5 121.1 Less: Imputed interest (15.1) (47.2) Total lease liabilities $ 70.4 $ 73.9 ____________________ (1) Excludes legally binding minimum lease payments for leases signed but not yet commenced. The weighted-average remaining lease terms and discount rates for leases are as follows: Six Months Ended Lease Term and Discount Rate September 30, 2020 September 30, 2019 Weighted-average remaining lease terms (years): Operating leases 6.5 5.1 Finance leases 19.4 28.8 Weighted-average discount rate: Operating leases 4.9 % 4.0 % Finance leases 5.4 % 5.7 % Cash paid for amounts included in the measurement of lease liabilities are as follows (in millions): Six Months Ended September 30, 2020 September 30, 2019 Operating cash flows from operating leases $ 7.4 $ 7.1 Operating cash flows from finance leases 1.4 0.8 Financing cash flows from finance leases 0.5 0.2 ROU assets obtained in exchange for lease liabilities are as follows (in millions): Six Months Ended September 30, 2020 September 30, 2019 Operating leases $ 0.4 $ 2.8 Finance leases $ 46.5 $ —
Leases	Leases The Company determines if a contract is (or contains) a lease at inception by evaluating whether the contract conveys the right to control the use of an identified asset. The Company has operating and finance leases primarily associated with real estate, automobiles and manufacturing and office equipment. The Company has lease agreements that include lease and non-lease components, which the Company has elected to account for as a single lease component for all classes of the underlying assets. The term of the Company’s leases generally reflects the non-cancellable period of the lease. Some of the Company’s lease agreements include options to extend or terminate the lease, which are excluded from the minimum lease terms unless the Company is reasonably certain the option will be exercised. Lease expense for operating leases and amortization expense for finance leases is recognized on a straight-line basis over the lease term. Leases with an initial term of 12 months or less are not recorded on the condensed consolidated balance sheets and are instead recognized on a straight-line basis over the lease term Right-of-use (“ROU”) assets and liabilities are recognized in the condensed consolidated balance sheets based on the present value of remaining lease payments over the lease term. Additionally, ROU assets include any lease payments made at or ROU assets and lease liability balances recorded on the condensed consolidated balance sheets are summarized as follows (in millions): Leases Classification September 30, 2020 March 31, 2020 Assets: Operating ROU assets Other assets $ 65.6 $ 71.1 Finance ROU assets Property, plant and equipment, net (1) 72.5 27.3 Total ROU assets $ 138.1 $ 98.4 Liabilities: Current Operating Other current liabilities $ 12.1 $ 12.8 Finance Current maturities of debt 2.1 0.5 Non-current Operating Other liabilities 58.3 63.1 Finance Long-term debt 71.8 27.4 Total lease liabilities $ 144.3 $ 103.8 ____________________ (1) Finance lease assets are recorded net of accumulated amortization of $2.4 million and $1.0 million as of September 30, 2020 and March 31, 2020, respectively. The components of lease expense reported in the condensed consolidated statements of operations are as follows (in millions): Three Months Ended Six Months Ended September 30, 2020 September 30, 2019 September 30, 2020 September 30, 2019 Operating lease expenses (1) $ 4.4 $ 3.7 $ 8.9 $ 7.3 Finance lease expenses: Depreciation of finance ROU assets (1) 1.1 0.3 1.4 0.5 Interest on lease liabilities (2) 1.0 0.4 1.4 0.7 Total finance lease expense 2.1 0.7 2.8 1.2 Variable and short-term lease expense (1) 1.6 1.1 2.7 2.3 Total lease expense $ 8.1 $ 5.5 $ 14.4 $ 10.8 ____________________ (1) Included in cost of sales and selling, general and administrative expenses. (2) Included in interest expense, net. Future minimum lease payments under operating and finance leases as of September 30, 2020 are as follows (in millions): Years ending December 31, Operating Leases (1) Finance Leases (1) 2020 (through December 31, 2020) $ 2.4 $ 1.0 2021 14.5 6.1 2022 14.8 6.2 2023 12.1 6.2 2024 10.1 6.3 Thereafter 31.6 95.3 Total future minimum lease payments 85.5 121.1 Less: Imputed interest (15.1) (47.2) Total lease liabilities $ 70.4 $ 73.9 ____________________ (1) Excludes legally binding minimum lease payments for leases signed but not yet commenced. The weighted-average remaining lease terms and discount rates for leases are as follows: Six Months Ended Lease Term and Discount Rate September 30, 2020 September 30, 2019 Weighted-average remaining lease terms (years): Operating leases 6.5 5.1 Finance leases 19.4 28.8 Weighted-average discount rate: Operating leases 4.9 % 4.0 % Finance leases 5.4 % 5.7 % Cash paid for amounts included in the measurement of lease liabilities are as follows (in millions): Six Months Ended September 30, 2020 September 30, 2019 Operating cash flows from operating leases $ 7.4 $ 7.1 Operating cash flows from finance leases 1.4 0.8 Financing cash flows from finance leases 0.5 0.2 ROU assets obtained in exchange for lease liabilities are as follows (in millions): Six Months Ended September 30, 2020 September 30, 2019 Operating leases $ 0.4 $ 2.8 Finance leases $ 46.5 $ —

Stock-Based Compensation

Stock-Based Compensation	6 Months Ended
	Sep. 30, 2020
Share-based Payment Arrangement, Noncash Expense [Abstract]
Stock-Based Compensation	Stock-Based Compensation The Rexnord Corporation Performance Incentive Plan (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. For the three and six months ended September 30, 2020, the Company recognized $7.4 million and $20.7 million of stock-based compensation expense, respectively. For the three and six months ended September 30, 2019, the Company recognized $5.9 million and $12.8 million of stock-based compensation expense, respectively. During the six months ended September 30, 2020, the Company granted the following stock options, restricted stock units, performance stock units and common stock to directors, executive officers, and certain other employees: Award Type Number of Awards Weighted Average Grant-Date Fair Value Stock options 197,565 $ 7.69 Restricted stock units 429,153 $ 25.54 Performance stock units 547,374 $ 25.52 Common stock 120,418 $ 28.03 See Note 15, Stock-Based Compensation, to the audited consolidated financial statements of the Company's March 31, 2020 Annual Report on Form 10-K for further information regarding stock-based compensation.

Business Segment Information

Business Segment Information	6 Months Ended
	Sep. 30, 2020
Segment Reporting [Abstract]
Business Segment Information	Business Segment Information The Company's 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 TM . 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. Products are marketed and sold under widely recognized brand names, including Zurn®, Wilkins®, Green Turtle®, World Dryer®, StainlessDrains.com TM and JUST®. 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 1, Basis of Presentation and Significant Accounting Policies for further information. During fiscal 2019, the Company sold its VAG business included within the Water Management platform and in accordance with the authoritative guidance, the operating results of the VAG business are reported as discontinued operations. See Note 4, Discontinued Operations, for further information. Business Segment Information: (in Millions) Three Months Ended Six Months Ended September 30, 2020 September 30, 2019 September 30, 2020 September 30, 2019 Net sales Process & Motion Control $ 293.9 $ 337.0 $ 568.3 $ 667.1 Water Management 199.7 184.3 374.4 362.5 Consolidated net sales 493.6 521.3 942.7 1,029.6 Income from operations Process & Motion Control 35.8 58.3 75.4 113.4 Water Management 48.7 43.7 88.8 83.7 Corporate (12.1) (13.5) (25.8) (28.4) Consolidated income from operations 72.4 88.5 138.4 168.7 Non-operating expense: Interest expense, net (11.5) (15.3) (24.9) (30.8) Gain on the extinguishment of debt — 3.2 — 3.2 Other income (expense), net 0.6 (0.3) 1.0 (1.8) Income before income taxes 61.5 76.1 114.5 139.3 Provision for income taxes (16.1) (19.5) (33.3) (34.3) Equity method investment income — 0.1 — 0.2 Net income from continuing operations 45.4 56.7 81.2 105.2 Loss from discontinued operations, net of tax — — — (1.8) Net income 45.4 56.7 81.2 103.4 Non-controlling interest income — 0.1 0.2 0.3 Net income attributable to Rexnord 45.4 56.6 81.0 103.1 Dividends on preferred stock — (5.8) — (11.6) Net income attributable to Rexnord common stockholders $ 45.4 $ 50.8 $ 81.0 $ 91.5 Depreciation and amortization Process & Motion Control $ 14.8 $ 15.0 $ 29.1 $ 29.6 Water Management 7.4 6.6 14.7 12.9 Corporate 0.1 0.1 0.2 0.2 Consolidated $ 22.3 $ 21.7 $ 44.0 $ 42.7 Capital expenditures Process & Motion Control $ 5.2 $ 5.9 $ 12.5 $ 10.4 Water Management 1.6 1.5 2.8 2.8 Consolidated $ 6.8 $ 7.4 $ 15.3 $ 13.2

Guarantor Subsidiaries

Guarantor Subsidiaries	6 Months Ended
	Sep. 30, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Guarantor Subsidiaries	Guarantor Subsidiaries The following schedules present condensed consolidating financial information as of September 30, 2020 and March 31, 2020, and for the three and six month periods ended September 30, 2020 and 2019 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 senior notes and senior subordinated 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 September 30, 2020 (in millions) Parent Issuers Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated Assets Current assets: Cash and cash equivalents $ — $ 0.2 $ 105.1 $ 221.3 $ — $ 326.6 Receivables, net — — 182.5 107.8 — 290.3 Inventories — — 246.5 109.2 — 355.7 Other current assets — — 18.7 24.2 — 42.9 Total current assets — 0.2 552.8 462.5 — 1,015.5 Property, plant and equipment, net — — 292.9 125.2 — 418.1 Intangible assets, net — — 410.2 88.9 — 499.1 Goodwill — — 1,044.2 282.0 — 1,326.2 Investment in: Issuer subsidiaries 1,479.6 — — — (1,479.6) — Guarantor subsidiaries — 3,507.3 — — (3,507.3) — Non-guarantor subsidiaries — — 662.9 — (662.9) — Other assets — 0.7 88.2 57.6 — 146.5 Total assets $ 1,479.6 $ 3,508.2 $ 3,051.2 $ 1,016.2 $ (5,649.8) $ 3,405.4 Liabilities and stockholders' equity Current liabilities: Current maturities of debt $ — $ — $ 2.2 $ 1.0 $ — $ 3.2 Trade payables — — 97.9 59.1 — 157.0 Compensation and benefits — — 31.8 17.9 — 49.7 Current portion of pension and postretirement benefit obligations — — 1.8 1.4 — 3.2 Other current liabilities — 7.3 81.8 57.8 — 146.9 Total current liabilities — 7.3 215.5 137.2 — 360.0 Long-term debt — 1,117.4 71.3 3.9 — 1,192.6 Note payable to (receivable from) affiliates, net 80.6 903.9 (1,067.1) 82.6 — — Pension and postretirement benefit obligations — — 136.2 48.8 — 185.0 Deferred income taxes — — 97.2 22.9 — 120.1 Other liabilities 0.6 — 90.8 57.9 — 149.3 Total liabilities 81.2 2,028.6 (456.1) 353.3 — 2,007.0 Total stockholders' equity 1,398.4 1,479.6 3,507.3 662.9 (5,649.8) 1,398.4 Total liabilities and stockholders' equity $ 1,479.6 $ 3,508.2 $ 3,051.2 $ 1,016.2 $ (5,649.8) $ 3,405.4 Condensed Consolidating Balance Sheets March 31, 2020 (in millions) Parent Issuers Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated Assets Current assets: Cash and cash equivalents $ 11.0 $ 0.4 $ 383.9 $ 178.1 $ — $ 573.4 Receivables, net — — 223.5 111.2 — 334.7 Inventories — — 224.8 92.7 — 317.5 Other current assets — — 20.5 18.2 — 38.7 Total current assets 11.0 0.4 852.7 400.2 — 1,264.3 Property, plant and equipment, net — — 256.1 122.7 — 378.8 Intangible assets, net — — 424.8 89.4 — 514.2 Goodwill — — 1,043.6 278.3 — 1,321.9 Investment in: Issuer subsidiaries 1,381.1 — — — (1,381.1) — Guarantor subsidiaries — 3,324.9 — — (3,324.9) — Non-guarantor subsidiaries — — 621.1 — (621.1) — Other assets — — 88.7 59.2 — 147.9 Total assets $ 1,392.1 $ 3,325.3 $ 3,287.0 $ 949.8 $ (5,327.1) $ 3,627.1 Liabilities and stockholders' equity Current liabilities: Current maturities of debt $ — $ — $ 75.4 $ 1.0 $ — $ 76.4 Trade payables — — 123.9 61.7 — 185.6 Compensation and benefits — — 42.4 19.4 — 61.8 Current portion of pension and postretirement benefit obligations — — 1.8 1.4 — 3.2 Other current liabilities — 7.9 79.9 40.7 — 128.5 Total current liabilities — 7.9 323.4 124.2 — 455.5 Long-term debt — 1,290.9 101.8 4.3 — 1,397.0 Note payable to (receivable from), net 77.9 645.4 (795.9) 72.6 — — Pension and postretirement benefit obligations — — 142.8 46.8 — 189.6 Deferred income taxes — — 98.6 22.4 — 121.0 Other liabilities 0.5 — 91.4 58.4 — 150.3 Total liabilities 78.4 1,944.2 (37.9) 328.7 — 2,313.4 Total stockholders' equity 1,313.7 1,381.1 3,324.9 621.1 (5,327.1) 1,313.7 Total liabilities and stockholders' equity $ 1,392.1 $ 3,325.3 $ 3,287.0 $ 949.8 $ (5,327.1) $ 3,627.1 Condensed Consolidating Statements of Operations For the Six Months Ended September 30, 2020 (in millions) Parent Issuers Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated Net sales $ — $ — $ 707.3 $ 314.2 $ (78.8) $ 942.7 Cost of sales — — 429.1 222.4 (78.8) 572.7 Gross profit — — 278.2 91.8 — 370.0 Selling, general and administrative expenses — — 158.8 46.5 — 205.3 Restructuring and other similar charges — — 4.5 3.8 — 8.3 Amortization of intangible assets — — 14.8 3.2 — 18.0 Income from operations — — 100.1 38.3 — 138.4 Non-operating income (expense): Interest income (expense), net: To third parties — (22.8) (2.3) 0.2 — (24.9) To affiliates 19.2 11.2 (29.5) (0.9) — — Other (expense) income, net — (0.2) — 1.2 — 1.0 Income (loss) before income taxes 19.2 (11.8) 68.3 38.8 — 114.5 Provision for income taxes — — (20.1) (13.2) — (33.3) Equity method investment income — — — — — — Income (loss) before equity in earnings of subsidiaries 19.2 (11.8) 48.2 25.6 — 81.2 Equity in income of subsidiaries 62.0 73.8 25.6 — (161.4) — Net income from continuing operations 81.2 62.0 73.8 25.6 (161.4) 81.2 Loss from discontinued operations, net of tax — — — — — — Net income 81.2 62.0 73.8 25.6 (161.4) 81.2 Non-controlling interest income — — — 0.2 — 0.2 Net income attributable to Rexnord 81.2 62.0 73.8 25.4 (161.4) 81.0 Dividends on preferred stock — — — — — — Net income attributable to Rexnord common stockholders $ 81.2 $ 62.0 $ 73.8 $ 25.4 $ (161.4) $ 81.0 Comprehensive income $ 81.2 $ 65.1 $ 74.0 $ 41.5 $ (161.4) $ 100.4 Condensed Consolidating Statements of Operations For the Three Months Ended September 30, 2020 (in millions) Parent Issuers Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated Net sales $ — $ — $ 365.7 $ 172.3 $ (44.4) $ 493.6 Cost of sales — — 224.5 120.4 (44.4) 300.5 Gross profit — — 141.2 51.9 — 193.1 Selling, general and administrative expenses — — 80.9 24.2 — 105.1 Restructuring and other similar charges — — 2.2 4.4 — 6.6 Amortization of intangible assets — — 7.4 1.6 — 9.0 Income from operations — — 50.7 21.7 — 72.4 Non-operating income (expense): Interest income (expense), net: To third parties — (10.0) (1.6) 0.1 — (11.5) To affiliates 9.6 5.4 (14.6) (0.4) — — Other (expense) income, net — (0.1) (0.2) 0.9 — 0.6 Income (loss) before income taxes 9.6 (4.7) 34.3 22.3 — 61.5 Provision for income taxes — — (9.7) (6.4) — (16.1) Equity method investment income — — — — — — Income (loss) before equity in earnings of subsidiaries 9.6 (4.7) 24.6 15.9 — 45.4 Equity in income of subsidiaries 35.8 40.5 15.9 — (92.2) — Net income from continuing operations 45.4 35.8 40.5 15.9 (92.2) 45.4 Loss from discontinued operations, net of tax — — — — — — Net income 45.4 35.8 40.5 15.9 (92.2) 45.4 Non-controlling interest income — — — — — — Net income attributable to Rexnord 45.4 35.8 40.5 15.9 (92.2) 45.4 Dividends on preferred stock — — — — — — Net income attributable to Rexnord common stockholders $ 45.4 $ 35.8 $ 40.5 $ 15.9 $ (92.2) $ 45.4 Comprehensive income $ 45.4 $ 37.9 $ 40.6 $ 26.6 $ (92.2) $ 58.3 Condensed Consolidating Statements of Operations For the Six Months Ended September 30, 2019 (in millions) Parent Issuers Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated Net sales $ — $ — $ 787.9 $ 327.9 $ (86.2) $ 1,029.6 Cost of sales — — 476.3 229.7 (86.2) 619.8 Gross profit — — 311.6 98.2 — 409.8 Selling, general and administrative expenses — — 166.1 52.2 — 218.3 Restructuring and other similar charges — — 2.7 2.6 — 5.3 Amortization of intangible assets — — 13.8 3.7 — 17.5 Income from operations — — 129.0 39.7 — 168.7 Non-operating (expense) income: Interest (expense) income, net: To third parties — (30.2) (1.3) 0.7 — (30.8) To affiliates 0.4 17.1 (13.7) (3.8) — — Gain on the extinguishment of debt — — 3.2 — — 3.2 Other income (expense), net — 0.1 (1.2) (0.7) — (1.8) Income (loss) before income taxes 0.4 (13.0) 116.0 35.9 — 139.3 Provision for income taxes — — (23.1) (11.2) — (34.3) Equity method investment income — — — 0.2 — 0.2 Income (loss) before equity in earnings of subsidiaries 0.4 (13.0) 92.9 24.9 — 105.2 Equity in income of subsidiaries 103.0 116.0 23.1 — (242.1) — Net income from continuing operations 103.4 103.0 116.0 24.9 (242.1) 105.2 Loss from discontinued operations, net of tax — — — (1.8) — (1.8) Net income 103.4 103.0 116.0 23.1 (242.1) 103.4 Non-controlling interest income — — — 0.3 — 0.3 Net income attributable to Rexnord 103.4 103.0 116.0 22.8 (242.1) 103.1 Dividends on preferred stock (11.6) — — — — (11.6) Net income attributable to Rexnord common stockholders $ 91.8 $ 103.0 $ 116.0 $ 22.8 $ (242.1) $ 91.5 Comprehensive income $ 103.4 $ 99.3 $ 116.1 $ 11.6 $ (242.1) $ 88.3 Condensed Consolidating Statements of Operations For the Three Months Ended September 30, 2019 (in millions) Parent Issuers Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated Net sales $ — $ — $ 396.2 $ 166.6 $ (41.5) $ 521.3 Cost of sales — — 238.3 116.3 (41.5) 313.1 Gross profit — — 157.9 50.3 — 208.2 Selling, general and administrative expenses — — 83.5 25.3 — 108.8 Restructuring and other similar charges — — 0.2 1.9 — 2.1 Amortization of intangible assets — — 6.9 1.9 — 8.8 Income from operations — — 67.3 21.2 — 88.5 Non-operating (expense) income: Interest income (expense), net: To third parties — (14.9) (0.8) 0.4 — (15.3) To affiliates 0.2 8.4 (6.7) (1.9) — — Gain on the extinguishment of debt — — 3.2 — — 3.2 Other expense (income), net — 0.2 (0.5) — — (0.3) Income (loss) before income taxes 0.2 (6.3) 62.5 19.7 — 76.1 Provision for income taxes — — (13.6) (5.9) — (19.5) Equity method investment income — — — 0.1 — 0.1 Income (loss) before equity in earnings of subsidiaries 0.2 (6.3) 48.9 13.9 — 56.7 Equity in income of subsidiaries 56.5 62.8 13.9 — (133.2) — Net income 56.7 56.5 62.8 13.9 (133.2) 56.7 Non-controlling interest income — — — 0.1 — 0.1 Net income attributable to Rexnord 56.7 56.5 62.8 13.8 (133.2) 56.6 Dividends on preferred stock (5.8) — — — — (5.8) Net income attributable to Rexnord common stockholders $ 50.9 $ 56.5 $ 62.8 $ 13.8 $ (133.2) $ 50.8 Comprehensive income $ 56.6 $ 51.5 $ 62.1 $ 4.6 $ (133.2) $ 41.6 Condensed Consolidating Statements of Cash Flows For the Six Months Ended September 30, 2020 (in millions) Parent Issuer Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated Operating activities Cash provided by (used for) operating activities $ 25.4 $ 249.8 $ (194.9) $ 33.5 $ — $ 113.8 Investing activities Expenditures for property, plant and equipment — — (9.1) (6.2) — (15.3) Proceeds from dispositions of long-lived assets — — 0.6 7.2 — 7.8 Cash (used for) provided by investing activities — — (8.5) 1.0 — (7.5) Financing activities Proceeds from borrowings of debt — — 6.0 — — 6.0 Repayments of debt — (250.0) (81.4) (0.4) — (331.8) Proceeds from exercise of stock options 7.2 — — — — 7.2 Taxes withheld and paid on employees' share-based payment awards (9.4) — — — — (9.4) Repurchase of common stock (15.0) — — — — (15.0) Payment of common stock dividend (19.2) — — — — (19.2) Cash used for financing activities (36.4) (250.0) (75.4) (0.4) — (362.2) Effect of exchange rate changes on cash and cash equivalents — — — 9.1 — 9.1 (Decrease) increase in cash and cash equivalents (11.0) (0.2) (278.8) 43.2 — (246.8) Cash, cash equivalents and restricted cash at beginning of period 11.0 0.4 383.9 178.1 — 573.4 Cash, cash equivalents and restricted cash at end of period $ — $ 0.2 $ 105.1 $ 221.3 $ — $ 326.6 Condensed Consolidating Statements of Cash Flows For the Six Months Ended September 30, 2019 (in millions) Parent Issuer Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated Operating activities Cash provided by operating activities $ 10.3 $ 0.9 $ 42.2 $ 32.9 $ — $ 86.3 Investing activities Expenditures for property, plant and equipment — — (9.5) (3.7) — (13.2) Acquisitions, net of cash acquired — — (24.8) (0.3) — (25.1) Proceeds from dispositions of long-lived assets — — 0.7 1.3 — 2.0 Payments associated with divestiture of discontinued operations — — — (1.3) — (1.3) Cash used for investing activities — — (33.6) (4.0) — (37.6) Financing activities Repayments of debt — — (1.1) (4.3) — (5.4) Proceeds from exercise of stock options 6.9 — — — — 6.9 Taxes withheld and paid on employees' share-based payment awards (5.7) — — — — (5.7) Payments of preferred stock dividends (11.6) — — — — (11.6) Cash used for by financing activities (10.4) — (1.1) (4.3) — (15.8) Effect of exchange rate changes on cash and cash equivalents — — — (5.6) — (5.6) (Decrease) increase in cash and cash equivalents (0.1) 0.9 7.5 19.0 — 27.3 Cash, cash equivalents and restricted cash at beginning of period 1.4 0.2 107.7 183.2 — 292.5 Cash, cash equivalents and restricted cash at end of period $ 1.3 $ 1.1 $ 115.2 $ 202.2 $ — $ 319.8

Subsequent Events

Subsequent Events	6 Months Ended
	Sep. 30, 2020
Subsequent Events [Abstract]
Subsequent Events	Subsequent EventsOn October 1, 2020, the Company completed the sale of the China gearbox product line. See Note 2, Acquisitions and Divestiture for additional information On October 22, 2020, the Company's Board of Directors declared a quarterly cash dividend on the Company's common stock of $0.08 per-share to be paid on December 7, 2020, to stockholders of record as of November 20, 2020.

Basis of Presentation and Sig_2

Basis of Presentation and Significant Accounting Policies (Policies)	6 Months Ended
	Sep. 30, 2020
Accounting Policies [Abstract]
Recent Accounting Pronouncements	Recent Accounting Pronouncements In March 2020, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") No. 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting ("ASU 2020-04"). The amendments in this ASU apply only to contracts, hedging relationships, and other transactions that reference LIBOR or another reference rate that is expected to be discontinued because of reference rate reform. The amendments in this update provide optional expedients and exceptions for applying GAAP to contracts, hedging relationships, and other transactions affected by reference rate reform if certain criteria are met. The expedients and exceptions provided by the amendments do not apply to contract modifications made and hedging relationships entered into or evaluated after December 31, 2022, except for hedging relationships existing as of December 31, 2022, that an entity has elected certain optional expedients for and that are retained through the end of the hedging relationship. The amendments in this ASU are effective for all entities as of March 12, 2020, through December 31, 2022. The Company did not modify any material contracts due to reference rate reform during the three and six months ended September 30, 2020. The Company will continue to evaluate the impact this guidance will have on its consolidated financial statements for all future transactions affected by reference rate reform during the time period referenced above. In December 2019, the FASB issued ASU No. 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes ( "ASU 2019-12" ) . The FASB issued this update as part of its initiative to reduce complexity in accounting standards. The amendments in this ASU simplify the accounting for income taxes by removing certain exceptions to the general principles in Topic 740 and also improve consistent application of other areas by clarifying and amending existing guidance. ASU 2019-12 is effective for public business entities with fiscal years beginning after December 15, 2020, and early adoption is permitted. Certain amendments of this ASU may be adopted on a retrospective basis, modified retrospective basis or prospective basis. The Company is currently evaluating the impact this guidance will have on its consolidated financial statements. In June 2016, the FASB issued ASU No. 2016-13, Measurement of Credit Losses on Financial Instruments, which establishes ASC 326, Financial Instruments - Credit Losses . The ASU revises the measurement of credit losses for financial assets measured at amortized cost from an incurred loss methodology to an expected loss methodology. The ASU affects trade receivables, debt securities, net investment in leases, and most other financial assets that represent a right to receive cash. Additional disclosures about significant estimates and credit quality are also required. In November 2018, the FASB issued ASU No. 2018-19, Codification Improvements to Topic 326, Financial Instruments - Credit Losses . This ASU clarifies that receivables from operating leases are accounted for using the lease guidance and not as financial instruments. In May 2019, the FASB issued ASU No. 2019-05, Targeted Transition Relief , which amends ASC 326. This ASU provides an option to irrevocably elect to measure certain individual financial assets at fair value instead of amortized cost. The Company adopted ASU No. 2016-13, as amended, on April 1, 2020, using a modified-retrospective approach. There was no impact to the Company's consolidated financial statements. In August 2018, the FASB issued ASU 2018-14, Compensation - Retirement Benefits - Defined Benefit Plans - General (Subtopic 715-20): Disclosure Framework - Changes to the Disclosure Requirements for Defined Benefit Plans
Reclassifications	Reclassifications Certain prior year amounts have been reclassified to conform to the presentation used for the three and six months ended September 30, 2020.
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, Revenue from Contracts with Customers ("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.
Transaction Price Measurement, Tax Exclusion	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 condensed 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 condensed consolidated statements of operations.

Restructuring and Other Simil_2

Restructuring and Other Similar Charges (Tables)	6 Months Ended
	Sep. 30, 2020
Restructuring and Related Activities [Abstract]
Schedule of Restructuring and Related Costs	The following table summarizes the Company's restructuring and other similar charges during the three and six months ended September 30, 2020 and September 30, 2019, by classification of operating segment (in millions): Restructuring and Other Similar Charges Process & Motion Control Water Management Corporate Consolidated Employee termination benefits $ 5.6 $ 0.1 $ — $ 5.7 Contract termination and other associated costs 1.1 — (0.2) 0.9 Total restructuring and other similar costs $ 6.7 $ 0.1 $ (0.2) $ 6.6 Restructuring and Other Similar Charges Process & Motion Control Water Management Corporate Consolidated Employee termination benefits $ 5.8 $ 1.0 $ 0.1 $ 6.9 Contract termination and other associated costs 1.6 — (0.2) 1.4 Total restructuring and other similar costs $ 7.4 $ 1.0 $ (0.1) $ 8.3 Restructuring and Other Similar Charges Process & Motion Control Water Management Corporate Consolidated Employee termination benefits $ 1.8 $ 0.1 $ — $ 1.9 Contract termination and other associated costs 0.2 — — 0.2 Total restructuring and other similar costs $ 2.0 $ 0.1 $ — $ 2.1 Restructuring and Other Similar Charges Process & Motion Control Water Management Corporate Consolidated Employee termination benefits $ 4.4 $ 0.4 $ — $ 4.8 Contract termination and other associated costs 0.5 — — 0.5 Total restructuring and other similar costs $ 4.9 $ 0.4 $ — $ 5.3
Summary of Activity in Restructuring Accrual	The following table summarizes the activity in the Company's restructuring accrual for the six months ended September 30, 2020 (in millions): Employee termination benefits Contract termination and other associated costs Total Restructuring accrual, March 31, 2020 (1) $ 8.3 $ 1.5 $ 9.8 Charges 6.9 1.4 8.3 Cash payments (6.5) (1.9) (8.4) Restructuring accrual, September 30, 2020 (1) $ 8.7 $ 1.0 $ 9.7 ____________________ (1) The restructuring accrual is included in other current liabilities in the condensed consolidated balance sheets.

Revenue Recognition (Tables)

Revenue Recognition (Tables)	6 Months Ended
	Sep. 30, 2020
Revenue from Contract with Customer [Abstract]
Disaggregation of Revenue	The following tables present our revenue disaggregated by customer type and originating geography (in millions): Three Months Ended Six Months Ended September 30, 2020 September 30, 2019 September 30, 2020 September 30, 2019 Original equipment manufacturers/end users $ 177.6 $ 204.9 $ 336.0 $ 406.4 Maintenance, repair, and operations 116.3 132.1 232.3 260.7 Total Process & Motion Control $ 293.9 $ 337.0 $ 568.3 $ 667.1 Water safety, quality, flow control and conservation $ 187.2 $ 171.7 $ 350.4 $ 336.7 Water infrastructure 12.5 12.6 24.0 25.8 Total Water Management $ 199.7 $ 184.3 $ 374.4 $ 362.5 Three Months Ended Six Months Ended Process & Motion Control Water Management Process & Motion Control Water Management United States and Canada $ 168.6 $ 194.7 $ 337.7 $ 366.6 Europe 75.7 — 141.4 — Rest of world 49.6 5.0 89.2 7.8 Total $ 293.9 $ 199.7 $ 568.3 $ 374.4 Three Months Ended Six Months Ended Process & Motion Control Water Management Process & Motion Control Water Management United States and Canada $ 216.6 $ 180.4 $ 431.0 $ 355.2 Europe 73.3 — 145.7 — Rest of world 47.1 3.9 90.4 7.3 Total $ 337.0 $ 184.3 $ 667.1 $ 362.5
Changes in Contract Assets and Liabilities	The following table presents changes in the Company’s contract assets and liabilities during the six months ended September 30, 2020 (in millions): Balance Sheet Classification March 31, 2020 Additions Deductions September 30, 2020 Contract assets Receivables, net $ 0.5 $ 0.1 $ (0.5) $ 0.1 Contract liabilities (1) Other current liabilities $ 7.3 $ 4.6 $ (5.0) $ 6.9 ____________________

Earnings per Share (Tables)

Earnings per Share (Tables)	6 Months Ended
	Sep. 30, 2020
Earnings Per Share [Abstract]
Schedule of Earnings Per Share, Basic and Diluted	The following table presents the basis for income per share computations (in millions, except share amounts): Three Months Ended Six Months Ended September 30, 2020 September 30, 2019 September 30, 2020 September 30, 2019 Basic net income per share attributable to Rexnord common stockholders Numerator: Net income from continuing operations $ 45.4 $ 56.7 $ 81.2 $ 105.2 Less: Non-controlling interest income — 0.1 0.2 0.3 Less: Dividends on preferred stock — 5.8 — 11.6 Net income from continuing operations attributable to Rexnord common stockholders $ 45.4 $ 50.8 $ 81.0 $ 93.3 Loss from discontinued operations, net of tax $ — $ — $ — $ (1.8) Net income attributable to Rexnord common stockholders $ 45.4 $ 50.8 $ 81.0 $ 91.5 Denominator: Weighted-average common shares outstanding, basic 120,704 106,007 120,476 105,637 Diluted net income per share attributable to Rexnord common stockholders Numerator: Net income from continuing operations $ 45.4 $ 56.7 $ 81.2 $ 105.2 Less: Non-controlling interest income — 0.1 0.2 0.3 Less: Dividends on preferred stock — — — — Net income from continuing operations attributable to Rexnord common stockholders $ 45.4 $ 56.6 $ 81.0 $ 104.9 Loss from discontinued operations, net of tax $ — $ — $ — $ (1.8) Net income attributable to Rexnord common stockholders $ 45.4 $ 50.8 $ 81.0 $ 91.5 Plus: Dividends on preferred stock — 5.8 — 11.6 Net income attributable to Rexnord common stockholders $ 45.4 $ 56.6 $ 81.0 $ 103.1 Denominator: Weighted-average common shares outstanding, basic 120,704 106,007 120,476 105,637 Effect of dilutive equity securities 1,803 1,934 2,034 2,025 Preferred stock under the "if-converted" method (1) — 15,979 — 15,979 Weighted-average common shares outstanding, diluted 122,507 123,920 122,510 123,641 ____________________ (1) On November 15, 2019, the Company issued 15,980,050 shares of common stock upon the mandatory conversion of Series A Preferred Stock; see Note 8, Stockholders' Equity for additional information.

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	6 Months Ended
	Sep. 30, 2020
Stockholders' Equity Note [Abstract]
Schedule of Stockholders' Equity	Stockholders' equity consists of the following (in millions): Common stock Preferred stock Additional paid-in capital Retained earnings Accumulated other comprehensive loss Non-controlling interest (2) Total stockholders’ equity Balance at March 31, 2019 $ 1.0 $ — $ 1,293.5 $ 30.7 $ (96.6) $ 2.4 $ 1,231.0 Total comprehensive income — — — 46.5 — 0.2 46.7 Stock-based compensation expense — — 6.9 — — — 6.9 Proceeds from exercise of stock options — — 4.8 — — — 4.8 Taxes withheld and paid on employees' share-based payment awards — — (5.7) — — — (5.7) Preferred stock dividends ($14.375 per share) — — — (5.8) — — (5.8) Balance at June 30, 2019 1.0 — 1,299.5 71.4 (96.6) 2.6 1,277.9 Total comprehensive income (loss) — — — 56.6 (15.1) 0.1 41.6 Stock-based compensation expense — — 5.9 — — — 5.9 Proceeds from exercise of stock options — — 2.1 — — — 2.1 Acquisition of non-controlling interest — — (0.3) — — — (0.3) Preferred stock dividends ($14.375 per share) — — — (5.8) — — (5.8) Balance at September 30, 2019 $ 1.0 $ — $ 1,307.2 $ 122.2 $ (111.7) $ 2.7 $ 1,321.4 Common stock (1) Preferred stock Additional Retained Accumulated Non-controlling interest (2) Total Balance at March 31, 2020 $ 1.2 $ — $ 1,348.3 $ 85.9 $ (124.4) $ 2.7 $ 1,313.7 Total comprehensive income — — — 35.6 6.3 0.2 42.1 Stock-based compensation expense — — 10.6 — — — 10.6 Proceeds from exercise of stock options — — 6.3 — — — 6.3 Taxes withheld and paid on employees' share-based payment awards — — (9.4) — — — (9.4) Common stock dividends ($0.08 per share) — — — (9.6) — — (9.6) Balance at June 30, 2020 1.2 — 1,355.8 111.9 (118.1) 2.9 1,353.7 Total comprehensive income — — — 45.4 12.9 — 58.3 Stock-based compensation expense — — 10.1 — — — 10.1 Proceeds from exercise of stock options — — 0.9 — — — 0.9 Repurchase of common stock (3) — — — (15.0) — — (15.0) Common stock dividends ($0.08 per share) — — — (9.6) — — (9.6) Balance at September 30, 2020 $ 1.2 $ — $ 1,366.8 $ 132.7 $ (105.2) $ 2.9 $ 1,398.4 ____________________ (1) For the three and six months ended September 30, 2020, the Company issued 92,462 and 1,029,014 shares of common stock upon the exercise of stock options, vesting of restricted stock units and performance stock units, and for other common stock awards. (2) During the first quarter of fiscal 2020, represents a 30% non-controlling interest in two Process & Motion Control controlled subsidiaries. During the second quarter of fiscal 2020, the Company acquired the remaining 30% non-controlling interest associated with one of the aforementioned Process & Motion Control joint ventures for a cash purchase price of $0.3 million. Following this transaction, represents a 30% non-controlling interest in the remaining Process & Motion Control controlled subsidiary and a 5% non-controlling interest in another Process & Motion Control controlled subsidiary. (3) During the three and six months ended September 30, 2020, the Company repurchased and canceled 500,050 shares of common stock at a total cost of $15.0 million at a weighted average price of $30.02 per share. See "Share Repurchase Program" below.

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Loss (Tables)	6 Months Ended
	Sep. 30, 2020
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
Schedule of Accumulated Other Comprehensive Loss	The changes in accumulated other comprehensive loss, net of tax, for the six months ended September 30, 2020, are as follows (in millions): Foreign Currency Translation Pension and Postretirement Plans Total Balance at March 31, 2020 $ (83.8) $ (40.6) $ (124.4) Other comprehensive income before reclassifications 19.4 — 19.4 Amounts reclassified from accumulated other comprehensive loss — (0.2) (0.2) Net current period other comprehensive income (loss) 19.4 (0.2) 19.2 Balance at September 30, 2020 $ (64.4) $ (40.8) $ (105.2)
Reclassification out of Accumulated Other Comprehensive Loss	The following table summarizes the amounts reclassified from accumulated other comprehensive loss to net income during the three and six months ended September 30, 2020 and September 30, 2019 (in millions): Three Months Ended Six Months Ended September 30, 2020 September 30, 2019 September 30, 2020 September 30, 2019 Income Statement Line Pension and other postretirement plans Amortization of prior service credit $ (0.1) $ (0.1) $ (0.2) $ (0.2) Other income (expense), net Settlement — — — 0.8 Other income (expense), net Benefit for income taxes — — — (0.2) Total net of tax $ (0.1) $ (0.1) $ (0.2) $ 0.4

Inventories (Tables)

Inventories (Tables)	6 Months Ended
	Sep. 30, 2020
Inventory, Net [Abstract]
Summary of Major Classes of Inventories	The major classes of inventories are summarized as follows (in millions): September 30, 2020 March 31, 2020 Finished goods $ 173.1 $ 145.6 Work in progress 46.9 43.7 Purchased components 73.8 70.4 Raw materials 58.5 54.9 Inventories at First-in, First-Out ("FIFO") cost 352.3 314.6 Adjustment to state inventories at Last-in, First-Out ("LIFO") cost 3.4 2.9 $ 355.7 $ 317.5

Goodwill and Intangible Assets

Goodwill and Intangible Assets (Tables)	6 Months Ended
	Sep. 30, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Intangible Assets and Goodwill	The changes in the net carrying value of goodwill for the six months ended September 30, 2020, by operating segment are presented below (in millions): Process & Motion Control Water Management Consolidated Net carrying amount as of March 31, 2020 $ 1,121.4 $ 200.5 $ 1,321.9 Currency translation adjustments 3.1 0.5 3.6 Purchase accounting adjustments (1) — 0.7 0.7 Net carrying amount as of September 30, 2020 $ 1,124.5 $ 201.7 $ 1,326.2 ____________________ (1) Refer to Note 2, Acquisitions and Divestiture 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 September 30, 2020 and March 31, 2020 are as follows (in millions): September 30, 2020 Weighted Average Useful Life Gross Carrying Amount Accumulated Amortization Net Carrying Amount Intangible assets subject to amortization: Patents 10 years $ 51.4 $ (41.8) $ 9.6 Customer relationships (including distribution network) 13 years 751.2 (569.2) 182.0 Tradenames 13 years 42.7 (16.1) 26.6 Intangible assets not subject to amortization - tradenames 280.9 — 280.9 Total intangible assets, net 13 years $ 1,126.2 $ (627.1) $ 499.1 March 31, 2020 Weighted Average Useful Life Gross Carrying Amount Accumulated Amortization Net Carrying Amount Intangible assets subject to amortization: Patents 10 years $ 51.1 $ (41.2) $ 9.9 Customer relationships (including distribution network) 13 years 748.0 (552.5) 195.5 Tradenames 13 years 42.1 (14.2) 27.9 Intangible assets not subject to amortization - tradenames 280.9 — 280.9 Total intangible assets, net 13 years $ 1,122.1 $ (607.9) $ 514.2
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 September 30, 2020 and March 31, 2020 are as follows (in millions): September 30, 2020 Weighted Average Useful Life Gross Carrying Amount Accumulated Amortization Net Carrying Amount Intangible assets subject to amortization: Patents 10 years $ 51.4 $ (41.8) $ 9.6 Customer relationships (including distribution network) 13 years 751.2 (569.2) 182.0 Tradenames 13 years 42.7 (16.1) 26.6 Intangible assets not subject to amortization - tradenames 280.9 — 280.9 Total intangible assets, net 13 years $ 1,126.2 $ (627.1) $ 499.1 March 31, 2020 Weighted Average Useful Life Gross Carrying Amount Accumulated Amortization Net Carrying Amount Intangible assets subject to amortization: Patents 10 years $ 51.1 $ (41.2) $ 9.9 Customer relationships (including distribution network) 13 years 748.0 (552.5) 195.5 Tradenames 13 years 42.1 (14.2) 27.9 Intangible assets not subject to amortization - tradenames 280.9 — 280.9 Total intangible assets, net 13 years $ 1,122.1 $ (607.9) $ 514.2

Other Current Liabilities (Tabl

Other Current Liabilities (Tables)	6 Months Ended
	Sep. 30, 2020
Other Liabilities Disclosure [Abstract]
Schedule of Other Current Liabilities	Other current liabilities are summarized as follows (in millions): September 30, 2020 March 31, 2020 Contract liabilities $ 6.9 $ 7.3 Sales rebates 34.0 35.5 Commissions 6.9 7.0 Restructuring and other similar charges (1) 9.7 9.8 Product warranty (2) 8.3 6.7 Risk management (3) 10.8 10.4 Legal and environmental 2.0 1.5 Taxes, other than income taxes 8.2 8.3 Income tax payable 17.8 9.9 Interest payable 7.6 8.3 Current portion of operating lease liability (4) 12.1 12.8 Other 22.6 11.0 $ 146.9 $ 128.5 ____________________ (1) See more information related to the restructuring obligations within Note 3, Restructuring and Other Similar Charges. (2) See more information related to the product warranty obligations within Note 16, Commitments and Contingencies. (3) Includes projected liabilities related to losses arising from automobile, general and product liability claims. (4) See more information related to leases within Note 18, Leases.

Long-Term Debt (Tables)

Long-Term Debt (Tables)	6 Months Ended
	Sep. 30, 2020
Debt Disclosure [Abstract]
Schedule of Debt	Long-term debt is summarized as follows (in millions): September 30, 2020 March 31, 2020 Term loan (1) $ 621.3 $ 620.8 4.875% Senior Notes due 2025 (2) 496.1 495.7 Revolving credit facility (3) — 249.2 Securitization facility borrowings (4) — 74.9 Finance leases and other subsidiary debt (5) 78.4 32.8 Total 1,195.8 1,473.4 Less current maturities 3.2 76.4 Long-term debt $ 1,192.6 $ 1,397.0 ____________________ (1) Includes unamortized debt issuance costs of $3.7 million and $4.2 million at September 30, 2020 and March 31, 2020, respectively. (2) Includes unamortized debt issuance costs of $3.9 million and $4.3 million at September 30, 2020 and March 31, 2020, respectively. (3) Includes unamortized debt issuance costs of $0.8 million at March 31, 2020. (4) Includes unamortized debt issuance costs of $0.1 million at March 31, 2020. (5) See more information related to finance leases within Note 18, Leases.

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	6 Months Ended
	Sep. 30, 2020
Fair Value Disclosures [Abstract]
Summary of Assets and 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 September 30, 2020 and March 31, 2020 (in millions): Fair Value as of September 30, 2020 Level 1 Level 2 Level 3 Total Deferred compensation assets $ 3.1 $ 6.8 $ — $ 9.9 Deferred compensation liabilities 10.3 — — 10.3 Fair Value as of March 31, 2020 Level 1 Level 2 Level 3 Total Deferred compensation assets $ 1.7 $ 5.5 $ — $ 7.2 Deferred compensation liabilities 7.4 — — 7.4

Commitments and Contingencies (

Commitments and Contingencies (Tables)	6 Months Ended
	Sep. 30, 2020
Commitments and Contingencies Disclosure [Abstract]
Schedule of Product Warranty Liability	The following table presents changes in the Company's product warranty liability (in millions): Six Months Ended September 30, 2020 September 30, 2019 Balance at beginning of period $ 6.7 $ 7.2 Charged to operations 2.6 0.9 Claims settled (1.0) (1.0) Balance at end of period $ 8.3 $ 7.1

Retirement Benefits (Tables)

Retirement Benefits (Tables)	6 Months Ended
	Sep. 30, 2020
Retirement Benefits [Abstract]
Schedule of Net Benefit Costs	The components of net periodic benefit cost are as follows (in millions): Three Months Ended Six Months Ended September 30, 2020 September 30, 2019 September 30, 2020 September 30, 2019 Pension Benefits: Service cost $ 0.2 $ 0.1 $ 0.3 $ 0.2 Interest cost 4.7 5.4 9.3 11.0 Expected return on plan assets (4.7) (5.6) (9.3) (11.3) Settlement — — — 0.8 Net periodic benefit cost $ 0.2 $ (0.1) $ 0.3 $ 0.7 Other Postretirement Benefits: Interest cost $ 0.2 $ 0.1 $ 0.3 $ 0.3 Amortization: Prior service credit (0.1) (0.1) (0.2) (0.2) Net periodic benefit cost $ 0.1 $ — $ 0.1 $ 0.1

Leases (Tables)

Leases (Tables)	6 Months Ended
	Sep. 30, 2020
Leases [Abstract]
ROU Assets and Lease Liability Balances	ROU assets and lease liability balances recorded on the condensed consolidated balance sheets are summarized as follows (in millions): Leases Classification September 30, 2020 March 31, 2020 Assets: Operating ROU assets Other assets $ 65.6 $ 71.1 Finance ROU assets Property, plant and equipment, net (1) 72.5 27.3 Total ROU assets $ 138.1 $ 98.4 Liabilities: Current Operating Other current liabilities $ 12.1 $ 12.8 Finance Current maturities of debt 2.1 0.5 Non-current Operating Other liabilities 58.3 63.1 Finance Long-term debt 71.8 27.4 Total lease liabilities $ 144.3 $ 103.8 ____________________
Components of Lease Expense	The components of lease expense reported in the condensed consolidated statements of operations are as follows (in millions): Three Months Ended Six Months Ended September 30, 2020 September 30, 2019 September 30, 2020 September 30, 2019 Operating lease expenses (1) $ 4.4 $ 3.7 $ 8.9 $ 7.3 Finance lease expenses: Depreciation of finance ROU assets (1) 1.1 0.3 1.4 0.5 Interest on lease liabilities (2) 1.0 0.4 1.4 0.7 Total finance lease expense 2.1 0.7 2.8 1.2 Variable and short-term lease expense (1) 1.6 1.1 2.7 2.3 Total lease expense $ 8.1 $ 5.5 $ 14.4 $ 10.8 ____________________ (1) Included in cost of sales and selling, general and administrative expenses. (2) Included in interest expense, net. Six Months Ended Lease Term and Discount Rate September 30, 2020 September 30, 2019 Weighted-average remaining lease terms (years): Operating leases 6.5 5.1 Finance leases 19.4 28.8 Weighted-average discount rate: Operating leases 4.9 % 4.0 % Finance leases 5.4 % 5.7 % Cash paid for amounts included in the measurement of lease liabilities are as follows (in millions): Six Months Ended September 30, 2020 September 30, 2019 Operating cash flows from operating leases $ 7.4 $ 7.1 Operating cash flows from finance leases 1.4 0.8 Financing cash flows from finance leases 0.5 0.2 ROU assets obtained in exchange for lease liabilities are as follows (in millions): Six Months Ended September 30, 2020 September 30, 2019 Operating leases $ 0.4 $ 2.8 Finance leases $ 46.5 $ —
Future Minimum Lease Payments, Finance Leases	Future minimum lease payments under operating and finance leases as of September 30, 2020 are as follows (in millions): Years ending December 31, Operating Leases (1) Finance Leases (1) 2020 (through December 31, 2020) $ 2.4 $ 1.0 2021 14.5 6.1 2022 14.8 6.2 2023 12.1 6.2 2024 10.1 6.3 Thereafter 31.6 95.3 Total future minimum lease payments 85.5 121.1 Less: Imputed interest (15.1) (47.2) Total lease liabilities $ 70.4 $ 73.9 ____________________
Future Minimum Lease Payments, Operating Leases	Future minimum lease payments under operating and finance leases as of September 30, 2020 are as follows (in millions): Years ending December 31, Operating Leases (1) Finance Leases (1) 2020 (through December 31, 2020) $ 2.4 $ 1.0 2021 14.5 6.1 2022 14.8 6.2 2023 12.1 6.2 2024 10.1 6.3 Thereafter 31.6 95.3 Total future minimum lease payments 85.5 121.1 Less: Imputed interest (15.1) (47.2) Total lease liabilities $ 70.4 $ 73.9 ____________________

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	6 Months Ended
	Sep. 30, 2020
Share-based Payment Arrangement, Noncash Expense [Abstract]
Schedule of Share-Based Payments	During the six months ended September 30, 2020, the Company granted the following stock options, restricted stock units, performance stock units and common stock to directors, executive officers, and certain other employees: Award Type Number of Awards Weighted Average Grant-Date Fair Value Stock options 197,565 $ 7.69 Restricted stock units 429,153 $ 25.54 Performance stock units 547,374 $ 25.52 Common stock 120,418 $ 28.03

Business Segment Information (T

Business Segment Information (Tables)	6 Months Ended
	Sep. 30, 2020
Segment Reporting [Abstract]
Schedule of Segment Reporting Information, by Segment	Business Segment Information: (in Millions) Three Months Ended Six Months Ended September 30, 2020 September 30, 2019 September 30, 2020 September 30, 2019 Net sales Process & Motion Control $ 293.9 $ 337.0 $ 568.3 $ 667.1 Water Management 199.7 184.3 374.4 362.5 Consolidated net sales 493.6 521.3 942.7 1,029.6 Income from operations Process & Motion Control 35.8 58.3 75.4 113.4 Water Management 48.7 43.7 88.8 83.7 Corporate (12.1) (13.5) (25.8) (28.4) Consolidated income from operations 72.4 88.5 138.4 168.7 Non-operating expense: Interest expense, net (11.5) (15.3) (24.9) (30.8) Gain on the extinguishment of debt — 3.2 — 3.2 Other income (expense), net 0.6 (0.3) 1.0 (1.8) Income before income taxes 61.5 76.1 114.5 139.3 Provision for income taxes (16.1) (19.5) (33.3) (34.3) Equity method investment income — 0.1 — 0.2 Net income from continuing operations 45.4 56.7 81.2 105.2 Loss from discontinued operations, net of tax — — — (1.8) Net income 45.4 56.7 81.2 103.4 Non-controlling interest income — 0.1 0.2 0.3 Net income attributable to Rexnord 45.4 56.6 81.0 103.1 Dividends on preferred stock — (5.8) — (11.6) Net income attributable to Rexnord common stockholders $ 45.4 $ 50.8 $ 81.0 $ 91.5 Depreciation and amortization Process & Motion Control $ 14.8 $ 15.0 $ 29.1 $ 29.6 Water Management 7.4 6.6 14.7 12.9 Corporate 0.1 0.1 0.2 0.2 Consolidated $ 22.3 $ 21.7 $ 44.0 $ 42.7 Capital expenditures Process & Motion Control $ 5.2 $ 5.9 $ 12.5 $ 10.4 Water Management 1.6 1.5 2.8 2.8 Consolidated $ 6.8 $ 7.4 $ 15.3 $ 13.2

Guarantor Subsidiaries (Tables)

Guarantor Subsidiaries (Tables)	6 Months Ended
	Sep. 30, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Condensed Consolidating Balance Sheets	Condensed Consolidating Balance Sheets September 30, 2020 (in millions) Parent Issuers Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated Assets Current assets: Cash and cash equivalents $ — $ 0.2 $ 105.1 $ 221.3 $ — $ 326.6 Receivables, net — — 182.5 107.8 — 290.3 Inventories — — 246.5 109.2 — 355.7 Other current assets — — 18.7 24.2 — 42.9 Total current assets — 0.2 552.8 462.5 — 1,015.5 Property, plant and equipment, net — — 292.9 125.2 — 418.1 Intangible assets, net — — 410.2 88.9 — 499.1 Goodwill — — 1,044.2 282.0 — 1,326.2 Investment in: Issuer subsidiaries 1,479.6 — — — (1,479.6) — Guarantor subsidiaries — 3,507.3 — — (3,507.3) — Non-guarantor subsidiaries — — 662.9 — (662.9) — Other assets — 0.7 88.2 57.6 — 146.5 Total assets $ 1,479.6 $ 3,508.2 $ 3,051.2 $ 1,016.2 $ (5,649.8) $ 3,405.4 Liabilities and stockholders' equity Current liabilities: Current maturities of debt $ — $ — $ 2.2 $ 1.0 $ — $ 3.2 Trade payables — — 97.9 59.1 — 157.0 Compensation and benefits — — 31.8 17.9 — 49.7 Current portion of pension and postretirement benefit obligations — — 1.8 1.4 — 3.2 Other current liabilities — 7.3 81.8 57.8 — 146.9 Total current liabilities — 7.3 215.5 137.2 — 360.0 Long-term debt — 1,117.4 71.3 3.9 — 1,192.6 Note payable to (receivable from) affiliates, net 80.6 903.9 (1,067.1) 82.6 — — Pension and postretirement benefit obligations — — 136.2 48.8 — 185.0 Deferred income taxes — — 97.2 22.9 — 120.1 Other liabilities 0.6 — 90.8 57.9 — 149.3 Total liabilities 81.2 2,028.6 (456.1) 353.3 — 2,007.0 Total stockholders' equity 1,398.4 1,479.6 3,507.3 662.9 (5,649.8) 1,398.4 Total liabilities and stockholders' equity $ 1,479.6 $ 3,508.2 $ 3,051.2 $ 1,016.2 $ (5,649.8) $ 3,405.4 Condensed Consolidating Balance Sheets March 31, 2020 (in millions) Parent Issuers Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated Assets Current assets: Cash and cash equivalents $ 11.0 $ 0.4 $ 383.9 $ 178.1 $ — $ 573.4 Receivables, net — — 223.5 111.2 — 334.7 Inventories — — 224.8 92.7 — 317.5 Other current assets — — 20.5 18.2 — 38.7 Total current assets 11.0 0.4 852.7 400.2 — 1,264.3 Property, plant and equipment, net — — 256.1 122.7 — 378.8 Intangible assets, net — — 424.8 89.4 — 514.2 Goodwill — — 1,043.6 278.3 — 1,321.9 Investment in: Issuer subsidiaries 1,381.1 — — — (1,381.1) — Guarantor subsidiaries — 3,324.9 — — (3,324.9) — Non-guarantor subsidiaries — — 621.1 — (621.1) — Other assets — — 88.7 59.2 — 147.9 Total assets $ 1,392.1 $ 3,325.3 $ 3,287.0 $ 949.8 $ (5,327.1) $ 3,627.1 Liabilities and stockholders' equity Current liabilities: Current maturities of debt $ — $ — $ 75.4 $ 1.0 $ — $ 76.4 Trade payables — — 123.9 61.7 — 185.6 Compensation and benefits — — 42.4 19.4 — 61.8 Current portion of pension and postretirement benefit obligations — — 1.8 1.4 — 3.2 Other current liabilities — 7.9 79.9 40.7 — 128.5 Total current liabilities — 7.9 323.4 124.2 — 455.5 Long-term debt — 1,290.9 101.8 4.3 — 1,397.0 Note payable to (receivable from), net 77.9 645.4 (795.9) 72.6 — — Pension and postretirement benefit obligations — — 142.8 46.8 — 189.6 Deferred income taxes — — 98.6 22.4 — 121.0 Other liabilities 0.5 — 91.4 58.4 — 150.3 Total liabilities 78.4 1,944.2 (37.9) 328.7 — 2,313.4 Total stockholders' equity 1,313.7 1,381.1 3,324.9 621.1 (5,327.1) 1,313.7 Total liabilities and stockholders' equity $ 1,392.1 $ 3,325.3 $ 3,287.0 $ 949.8 $ (5,327.1) $ 3,627.1
Condensed Consolidating Statement of Operations	Condensed Consolidating Statements of Operations For the Six Months Ended September 30, 2020 (in millions) Parent Issuers Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated Net sales $ — $ — $ 707.3 $ 314.2 $ (78.8) $ 942.7 Cost of sales — — 429.1 222.4 (78.8) 572.7 Gross profit — — 278.2 91.8 — 370.0 Selling, general and administrative expenses — — 158.8 46.5 — 205.3 Restructuring and other similar charges — — 4.5 3.8 — 8.3 Amortization of intangible assets — — 14.8 3.2 — 18.0 Income from operations — — 100.1 38.3 — 138.4 Non-operating income (expense): Interest income (expense), net: To third parties — (22.8) (2.3) 0.2 — (24.9) To affiliates 19.2 11.2 (29.5) (0.9) — — Other (expense) income, net — (0.2) — 1.2 — 1.0 Income (loss) before income taxes 19.2 (11.8) 68.3 38.8 — 114.5 Provision for income taxes — — (20.1) (13.2) — (33.3) Equity method investment income — — — — — — Income (loss) before equity in earnings of subsidiaries 19.2 (11.8) 48.2 25.6 — 81.2 Equity in income of subsidiaries 62.0 73.8 25.6 — (161.4) — Net income from continuing operations 81.2 62.0 73.8 25.6 (161.4) 81.2 Loss from discontinued operations, net of tax — — — — — — Net income 81.2 62.0 73.8 25.6 (161.4) 81.2 Non-controlling interest income — — — 0.2 — 0.2 Net income attributable to Rexnord 81.2 62.0 73.8 25.4 (161.4) 81.0 Dividends on preferred stock — — — — — — Net income attributable to Rexnord common stockholders $ 81.2 $ 62.0 $ 73.8 $ 25.4 $ (161.4) $ 81.0 Comprehensive income $ 81.2 $ 65.1 $ 74.0 $ 41.5 $ (161.4) $ 100.4 Condensed Consolidating Statements of Operations For the Three Months Ended September 30, 2020 (in millions) Parent Issuers Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated Net sales $ — $ — $ 365.7 $ 172.3 $ (44.4) $ 493.6 Cost of sales — — 224.5 120.4 (44.4) 300.5 Gross profit — — 141.2 51.9 — 193.1 Selling, general and administrative expenses — — 80.9 24.2 — 105.1 Restructuring and other similar charges — — 2.2 4.4 — 6.6 Amortization of intangible assets — — 7.4 1.6 — 9.0 Income from operations — — 50.7 21.7 — 72.4 Non-operating income (expense): Interest income (expense), net: To third parties — (10.0) (1.6) 0.1 — (11.5) To affiliates 9.6 5.4 (14.6) (0.4) — — Other (expense) income, net — (0.1) (0.2) 0.9 — 0.6 Income (loss) before income taxes 9.6 (4.7) 34.3 22.3 — 61.5 Provision for income taxes — — (9.7) (6.4) — (16.1) Equity method investment income — — — — — — Income (loss) before equity in earnings of subsidiaries 9.6 (4.7) 24.6 15.9 — 45.4 Equity in income of subsidiaries 35.8 40.5 15.9 — (92.2) — Net income from continuing operations 45.4 35.8 40.5 15.9 (92.2) 45.4 Loss from discontinued operations, net of tax — — — — — — Net income 45.4 35.8 40.5 15.9 (92.2) 45.4 Non-controlling interest income — — — — — — Net income attributable to Rexnord 45.4 35.8 40.5 15.9 (92.2) 45.4 Dividends on preferred stock — — — — — — Net income attributable to Rexnord common stockholders $ 45.4 $ 35.8 $ 40.5 $ 15.9 $ (92.2) $ 45.4 Comprehensive income $ 45.4 $ 37.9 $ 40.6 $ 26.6 $ (92.2) $ 58.3 Condensed Consolidating Statements of Operations For the Six Months Ended September 30, 2019 (in millions) Parent Issuers Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated Net sales $ — $ — $ 787.9 $ 327.9 $ (86.2) $ 1,029.6 Cost of sales — — 476.3 229.7 (86.2) 619.8 Gross profit — — 311.6 98.2 — 409.8 Selling, general and administrative expenses — — 166.1 52.2 — 218.3 Restructuring and other similar charges — — 2.7 2.6 — 5.3 Amortization of intangible assets — — 13.8 3.7 — 17.5 Income from operations — — 129.0 39.7 — 168.7 Non-operating (expense) income: Interest (expense) income, net: To third parties — (30.2) (1.3) 0.7 — (30.8) To affiliates 0.4 17.1 (13.7) (3.8) — — Gain on the extinguishment of debt — — 3.2 — — 3.2 Other income (expense), net — 0.1 (1.2) (0.7) — (1.8) Income (loss) before income taxes 0.4 (13.0) 116.0 35.9 — 139.3 Provision for income taxes — — (23.1) (11.2) — (34.3) Equity method investment income — — — 0.2 — 0.2 Income (loss) before equity in earnings of subsidiaries 0.4 (13.0) 92.9 24.9 — 105.2 Equity in income of subsidiaries 103.0 116.0 23.1 — (242.1) — Net income from continuing operations 103.4 103.0 116.0 24.9 (242.1) 105.2 Loss from discontinued operations, net of tax — — — (1.8) — (1.8) Net income 103.4 103.0 116.0 23.1 (242.1) 103.4 Non-controlling interest income — — — 0.3 — 0.3 Net income attributable to Rexnord 103.4 103.0 116.0 22.8 (242.1) 103.1 Dividends on preferred stock (11.6) — — — — (11.6) Net income attributable to Rexnord common stockholders $ 91.8 $ 103.0 $ 116.0 $ 22.8 $ (242.1) $ 91.5 Comprehensive income $ 103.4 $ 99.3 $ 116.1 $ 11.6 $ (242.1) $ 88.3 Condensed Consolidating Statements of Operations For the Three Months Ended September 30, 2019 (in millions) Parent Issuers Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated Net sales $ — $ — $ 396.2 $ 166.6 $ (41.5) $ 521.3 Cost of sales — — 238.3 116.3 (41.5) 313.1 Gross profit — — 157.9 50.3 — 208.2 Selling, general and administrative expenses — — 83.5 25.3 — 108.8 Restructuring and other similar charges — — 0.2 1.9 — 2.1 Amortization of intangible assets — — 6.9 1.9 — 8.8 Income from operations — — 67.3 21.2 — 88.5 Non-operating (expense) income: Interest income (expense), net: To third parties — (14.9) (0.8) 0.4 — (15.3) To affiliates 0.2 8.4 (6.7) (1.9) — — Gain on the extinguishment of debt — — 3.2 — — 3.2 Other expense (income), net — 0.2 (0.5) — — (0.3) Income (loss) before income taxes 0.2 (6.3) 62.5 19.7 — 76.1 Provision for income taxes — — (13.6) (5.9) — (19.5) Equity method investment income — — — 0.1 — 0.1 Income (loss) before equity in earnings of subsidiaries 0.2 (6.3) 48.9 13.9 — 56.7 Equity in income of subsidiaries 56.5 62.8 13.9 — (133.2) — Net income 56.7 56.5 62.8 13.9 (133.2) 56.7 Non-controlling interest income — — — 0.1 — 0.1 Net income attributable to Rexnord 56.7 56.5 62.8 13.8 (133.2) 56.6 Dividends on preferred stock (5.8) — — — — (5.8) Net income attributable to Rexnord common stockholders $ 50.9 $ 56.5 $ 62.8 $ 13.8 $ (133.2) $ 50.8 Comprehensive income $ 56.6 $ 51.5 $ 62.1 $ 4.6 $ (133.2) $ 41.6
Condensed Consolidating Statement of Cash Flows	Condensed Consolidating Statements of Cash Flows For the Six Months Ended September 30, 2020 (in millions) Parent Issuer Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated Operating activities Cash provided by (used for) operating activities $ 25.4 $ 249.8 $ (194.9) $ 33.5 $ — $ 113.8 Investing activities Expenditures for property, plant and equipment — — (9.1) (6.2) — (15.3) Proceeds from dispositions of long-lived assets — — 0.6 7.2 — 7.8 Cash (used for) provided by investing activities — — (8.5) 1.0 — (7.5) Financing activities Proceeds from borrowings of debt — — 6.0 — — 6.0 Repayments of debt — (250.0) (81.4) (0.4) — (331.8) Proceeds from exercise of stock options 7.2 — — — — 7.2 Taxes withheld and paid on employees' share-based payment awards (9.4) — — — — (9.4) Repurchase of common stock (15.0) — — — — (15.0) Payment of common stock dividend (19.2) — — — — (19.2) Cash used for financing activities (36.4) (250.0) (75.4) (0.4) — (362.2) Effect of exchange rate changes on cash and cash equivalents — — — 9.1 — 9.1 (Decrease) increase in cash and cash equivalents (11.0) (0.2) (278.8) 43.2 — (246.8) Cash, cash equivalents and restricted cash at beginning of period 11.0 0.4 383.9 178.1 — 573.4 Cash, cash equivalents and restricted cash at end of period $ — $ 0.2 $ 105.1 $ 221.3 $ — $ 326.6 Condensed Consolidating Statements of Cash Flows For the Six Months Ended September 30, 2019 (in millions) Parent Issuer Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated Operating activities Cash provided by operating activities $ 10.3 $ 0.9 $ 42.2 $ 32.9 $ — $ 86.3 Investing activities Expenditures for property, plant and equipment — — (9.5) (3.7) — (13.2) Acquisitions, net of cash acquired — — (24.8) (0.3) — (25.1) Proceeds from dispositions of long-lived assets — — 0.7 1.3 — 2.0 Payments associated with divestiture of discontinued operations — — — (1.3) — (1.3) Cash used for investing activities — — (33.6) (4.0) — (37.6) Financing activities Repayments of debt — — (1.1) (4.3) — (5.4) Proceeds from exercise of stock options 6.9 — — — — 6.9 Taxes withheld and paid on employees' share-based payment awards (5.7) — — — — (5.7) Payments of preferred stock dividends (11.6) — — — — (11.6) Cash used for by financing activities (10.4) — (1.1) (4.3) — (15.8) Effect of exchange rate changes on cash and cash equivalents — — — (5.6) — (5.6) (Decrease) increase in cash and cash equivalents (0.1) 0.9 7.5 19.0 — 27.3 Cash, cash equivalents and restricted cash at beginning of period 1.4 0.2 107.7 183.2 — 292.5 Cash, cash equivalents and restricted cash at end of period $ 1.3 $ 1.1 $ 115.2 $ 202.2 $ — $ 319.8

Acquisitions and Divestiture -

Acquisitions and Divestiture - Narrative (Details) - USD ($) $ in Millions	Sep. 30, 2020	Jan. 28, 2020	May 10, 2019	Sep. 30, 2020	Sep. 30, 2019	Mar. 31, 2020
Business Acquisition [Line Items]
Purchase price, excluding transaction costs and net of cash acquired				$ 0	$ 25.1
Goodwill	$ 1,326.2			1,326.2		$ 1,321.9
Purchase accounting adjustments				0.7
Process & Motion Control
Business Acquisition [Line Items]
Goodwill	1,124.5			1,124.5		1,121.4
Purchase accounting adjustments				0
Process & Motion Control | China Gearbox
Business Acquisition [Line Items]
Proceeds from sale	5.8
Just Manufacturing
Business Acquisition [Line Items]
Payments to acquire business		$ 59.4
East Creek Corporation
Business Acquisition [Line Items]
Purchase price, excluding transaction costs and net of cash acquired			$ 24.8
Goodwill	27.2			27.2
Other intangible assets	40.9			40.9
Fixed assets	8.4			8.4
Trade working capital	9.1			9.1
Other liabilities	1.4			1.4
Purchase accounting adjustments				0.7
East Creek Corporation | Tradenames
Business Acquisition [Line Items]
Other intangible assets	2.2			2.2
East Creek Corporation | Customer Relationships
Business Acquisition [Line Items]
Other intangible assets	$ 38.7			$ 38.7
Process & Motion Control Joint Venture
Business Acquisition [Line Items]
Purchase price, excluding transaction costs and net of cash acquired						$ 0.3

Restructuring and Other Simil_3

Restructuring and Other Similar Charges - Costs to Date by Segment (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Restructuring Cost and Reserve [Line Items]
Total restructuring and other similar costs	$ 6.6	$ 2.1	$ 8.3	$ 5.3
Employee termination benefits
Restructuring Cost and Reserve [Line Items]
Total restructuring and other similar costs	5.7	1.9	6.9	4.8
Contract termination and other associated costs
Restructuring Cost and Reserve [Line Items]
Total restructuring and other similar costs	0.9	0.2	1.4	0.5
Operating Segments | Process & Motion Control
Restructuring Cost and Reserve [Line Items]
Total restructuring and other similar costs	6.7	2	7.4	4.9
Operating Segments | Process & Motion Control | Employee termination benefits
Restructuring Cost and Reserve [Line Items]
Total restructuring and other similar costs	5.6	1.8	5.8	4.4
Operating Segments | Process & Motion Control | Contract termination and other associated costs
Restructuring Cost and Reserve [Line Items]
Total restructuring and other similar costs	1.1	0.2	1.6	0.5
Operating Segments | Water Management
Restructuring Cost and Reserve [Line Items]
Total restructuring and other similar costs	0.1	0.1	1	0.4
Operating Segments | Water Management | Employee termination benefits
Restructuring Cost and Reserve [Line Items]
Total restructuring and other similar costs	0.1	0.1	1	0.4
Operating Segments | Water Management | Contract termination and other associated costs
Restructuring Cost and Reserve [Line Items]
Total restructuring and other similar costs	0	0	0	0
Corporate
Restructuring Cost and Reserve [Line Items]
Total restructuring and other similar costs	(0.2)	0	(0.1)	0
Corporate | Employee termination benefits
Restructuring Cost and Reserve [Line Items]
Total restructuring and other similar costs	0	0	0.1	0
Corporate | Contract termination and other associated costs
Restructuring Cost and Reserve [Line Items]
Total restructuring and other similar costs	$ (0.2)	$ 0	$ (0.2)	$ 0

Restructuring and Other Simil_4

Restructuring and Other Similar Charges - Reserve Roll Forward (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Restructuring Reserve [Roll Forward]
Restructuring accrual, beginning period			$ 9.8
Charges	$ 6.6	$ 2.1	8.3	$ 5.3
Cash payments			(8.4)
Restructuring accrual, ending period	9.7		9.7
Employee termination benefits
Restructuring Reserve [Roll Forward]
Restructuring accrual, beginning period			8.3
Charges	5.7	1.9	6.9	4.8
Cash payments			(6.5)
Restructuring accrual, ending period	8.7		8.7
Contract termination and other associated costs
Restructuring Reserve [Roll Forward]
Restructuring accrual, beginning period			1.5
Charges	0.9	$ 0.2	1.4	$ 0.5
Cash payments			(1.9)
Restructuring accrual, ending period	$ 1		$ 1

Restructuring and Other Simil_5

Restructuring and Other Similar Charges - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Restructuring and Related Activities [Abstract]
Accelerated depreciation	$ 0.2	$ 0.7	$ 0.6	$ 1.3

Discontinued Operations - Narra

Discontinued Operations - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Loss from discontinued operations, net of tax	$ 0	$ 0	$ 0	$ (1.8)
Discontinued Operations, Held-for-sale
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Loss from discontinued operations, net of tax				$ (1.8)

Revenue Recognition - Narrative

Revenue Recognition - Narrative (Details)	3 Months Ended	6 Months Ended
	Sep. 30, 2020USD ($)	Sep. 30, 2020USD ($)segment
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Number of business segments | segment		2
Performance obligations expected to be satisfied	$ 353,300,000	$ 353,300,000
Impairment loss recognized	$ 0
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2020-10-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Percentage of remaining performance obligation	62.00%	62.00%
Percentage of remaining performance obligation, expected timing	3 months	3 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Percentage of remaining performance obligation	38.00%	38.00%
Percentage of remaining performance obligation, expected timing

Revenue Recognition - Revenue D

Revenue Recognition - Revenue Disaggregated by Customer Type and Geography (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Disaggregation of Revenue [Line Items]
Total	$ 493.6	$ 521.3	$ 942.7	$ 1,029.6
Process & Motion Control
Disaggregation of Revenue [Line Items]
Total	293.9	337	568.3	667.1
Process & Motion Control | United States and Canada
Disaggregation of Revenue [Line Items]
Total	168.6	216.6	337.7	431
Process & Motion Control | Europe
Disaggregation of Revenue [Line Items]
Total	75.7	73.3	141.4	145.7
Process & Motion Control | Rest of world
Disaggregation of Revenue [Line Items]
Total	49.6	47.1	89.2	90.4
Process & Motion Control | Original equipment manufacturers/end users
Disaggregation of Revenue [Line Items]
Total	177.6	204.9	336	406.4
Process & Motion Control | Maintenance, repair, and operations
Disaggregation of Revenue [Line Items]
Total	116.3	132.1	232.3	260.7
Water Management
Disaggregation of Revenue [Line Items]
Total	199.7	184.3	374.4	362.5
Water Management | United States and Canada
Disaggregation of Revenue [Line Items]
Total	194.7	180.4	366.6	355.2
Water Management | Europe
Disaggregation of Revenue [Line Items]
Total	0	0	0	0
Water Management | Rest of world
Disaggregation of Revenue [Line Items]
Total	5	3.9	7.8	7.3
Water Management | Water safety, quality, flow control and conservation
Disaggregation of Revenue [Line Items]
Total	187.2	171.7	350.4	336.7
Water Management | Water infrastructure
Disaggregation of Revenue [Line Items]
Total	$ 12.5	$ 12.6	$ 24	$ 25.8

Revenue Recognition - Change in

Revenue Recognition - Change in Contract with Customer, Asset and Liability (Details) $ in Millions	3 Months Ended
	Sep. 30, 2020USD ($)
Contract assets
Contract assets, beginning balance	$ 0.5
Contract assets, additions	0.1
Contract assets, deductions	(0.5)
Contract assets, ending balance	0.1
Contract liabilities
Contract liabilities, beginning balance	7.3
Contract liabilities, additions	4.6
Contract liabilities, deductions	(5)
Contract liabilities, ending balance	$ 6.9

Income Taxes - Narrative (Detai

Income Taxes - Narrative (Details) - USD ($) $ in Millions	3 Months Ended			6 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2020	Sep. 30, 2019	Mar. 31, 2020
Operating Loss Carryforwards [Line Items]
Income tax provision	$ 16.1	$ 19.5		$ 33.3	$ 34.3
Effective income tax rate	26.20%	25.60%		29.10%	24.60%
Unrecognized tax benefits	$ 15.7			$ 15.7		$ 14.8
Accrued interest and penalties	$ 1.7			1.7		1.5
Net interest and penalties recognized as income tax expense				$ 0.1	$ 0.1
Foreign Tax Authority | Federal Ministry of Finance, Germany
Operating Loss Carryforwards [Line Items]
Additional tax liabilities at conclusion of tax examination						$ 1.7
Domestic Tax Authority | Internal Revenue Service (IRS)
Operating Loss Carryforwards [Line Items]
Net interest and penalties recognized as income tax expense			$ 0.4

Earnings per Share - Earnings p

Earnings per Share - Earnings per Share Computation (Details) - USD ($) $ in Millions	Nov. 15, 2019	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Numerator:
Net income from continuing operations		$ 45.4	$ 56.7	$ 81.2	$ 105.2
Less: Non-controlling interest income		0	0.1	0.2	0.3
Less: Dividends on preferred stock		0	5.8	0	11.6
Net income from continuing operations attributable to Rexnord common stockholders		45.4	50.8	81	93.3
Net income from continuing operations attributable to Rexnord common stockholders		45.4	56.6	81	104.9
Loss from discontinued operations, net of tax		0	0	0	(1.8)
Net income attributable to Rexnord common stockholders		45.4	50.8	81	91.5
Plus: Dividends on preferred stock		0	5.8	0	11.6
Net income attributable to Rexnord common stockholders		$ 45.4	$ 56.6	$ 81	$ 103.1
Denominator:
Weighted-average common shares outstanding, basic (in shares)		120,704,000	106,007,000	120,476,000	105,637,000
Effect of dilutive equity securities (in shares)		1,803,000	1,934,000	2,034,000	2,025,000
Preferred stock under the if-converted method (in shares)		0	15,979,000	0	15,979,000
Diluted (in shares)		122,507,000	123,920,000	122,510,000	123,641,000
Preferred stock under the if-converted method (in shares)		0	15,979,000	0	15,979,000
Redeemable Convertible Preferred Stock
Denominator:
Preferred stock under the if-converted method (in shares)	15,980,050
Preferred stock under the if-converted method (in shares)	15,980,050

Earnings per Share - Narrative

Earnings per Share - Narrative (Details) - shares shares in Millions	3 Months Ended		6 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Earnings Per Share [Abstract]
Antidilutive securities excluded from computation of earnings per share (in shares)	0.8	1.2	1.2	1.8

Stockholders' Equity - Roll For

Stockholders' Equity - Roll Forward (Details) $ / shares in Units, $ in Millions	3 Months Ended				6 Months Ended
	Sep. 30, 2020USD ($)$ / sharesshares	Jun. 30, 2020USD ($)	Sep. 30, 2019USD ($)$ / shares	Jun. 30, 2019USD ($)subsidiary$ / shares	Sep. 30, 2020USD ($)$ / sharesshares	Sep. 30, 2019USD ($)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning Balance	$ 1,353.7	$ 1,313.7	$ 1,277.9	$ 1,231	$ 1,313.7	$ 1,231
Total comprehensive income	58.3	42.1	41.6	46.7	100.4	88.3
Stock-based compensation expense	10.1	10.6	5.9	6.9
Proceeds from exercise of stock options	0.9	6.3	2.1	4.8
Taxes withheld and paid on employees' share-based payment awards		(9.4)		(5.7)
Acquisition of non-controlling interest			0.3
Repurchase of common stock	(15)
Preferred stock dividends ($14.375 per share)			(5.8)	(5.8)
Common stock dividends ($0.08 per share)	(9.6)	(9.6)
Ending Balance	$ 1,398.4	1,353.7	$ 1,321.4	$ 1,277.9	$ 1,398.4	$ 1,321.4
Preferred stock dividends (in dollars per share) | $ / shares			$ 14.375	$ 14.375
Common stock dividends (in dollars per share) | $ / shares	$ 0.08
Common stock issued (in shares) | shares	92,462				1,029,014
Number of subsidiaries | subsidiary				2
Repurchased and canceled shares (in shares) | shares	500,050				500,050
Cost of repurchased and canceled shares of common stock	$ 15				$ 15
Average price of repurchased and canceled shares of common stock (in dollars per share) | $ / shares	$ 30.02				$ 30.02
Centa China | Process & Motion Control
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Non-controlling interest	30.00%		30.00%		30.00%	30.00%
Centa China | Centa China | Process & Motion Control
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Non-controlling interest	5.00%				5.00%
Common stock
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning Balance	$ 1.2	1.2	$ 1	$ 1	$ 1.2	$ 1
Ending Balance	1.2	1.2	1	1	1.2	1
Preferred stock
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning Balance	0	0	0	0	0	0
Ending Balance	0	0	0	0	0	0
Additional paid-in capital
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning Balance	1,355.8	1,348.3	1,299.5	1,293.5	1,348.3	1,293.5
Stock-based compensation expense	10.1	10.6	5.9	6.9
Proceeds from exercise of stock options	0.9	6.3	2.1	4.8
Taxes withheld and paid on employees' share-based payment awards		(9.4)		(5.7)
Ending Balance	1,366.8	1,355.8	1,307.2	1,299.5	1,366.8	1,307.2
Retained earnings
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning Balance	111.9	85.9	71.4	30.7	85.9	30.7
Total comprehensive income	45.4	35.6	56.6	46.5
Repurchase of common stock	(15)
Preferred stock dividends ($14.375 per share)			(5.8)	(5.8)
Common stock dividends ($0.08 per share)	(9.6)	(9.6)
Ending Balance	132.7	111.9	122.2	71.4	132.7	122.2
Accumulated other comprehensive loss
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning Balance	(118.1)	(124.4)	(96.6)	(96.6)	(124.4)	(96.6)
Total comprehensive income	12.9	6.3	(15.1)
Ending Balance	(105.2)	(118.1)	(111.7)	(96.6)	(105.2)	(111.7)
Non-controlling interest
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning Balance	2.9	2.7	2.6	2.4	2.7	2.4
Total comprehensive income	0	0.2	0.1	0.2
Ending Balance	$ 2.9	$ 2.9	$ 2.7	$ 2.6	$ 2.9	$ 2.7

Stockholders' Equity - Narrativ

Stockholders' Equity - Narrative (Details) - USD ($)	Nov. 15, 2019	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019	Jan. 27, 2020	Mar. 31, 2015
Class of Stock [Line Items]
Preferred stock under the if-converted method (in shares)		0	15,979,000	0	15,979,000
Repurchased and canceled shares (in shares)		500,050		500,050
Cost of repurchased and canceled shares of common stock		$ 15,000,000		$ 15,000,000
Average price of repurchased and canceled shares of common stock (in dollars per share)		$ 30.02		$ 30.02
Redeemable Convertible Preferred Stock
Class of Stock [Line Items]
Shares converted (in shares)	402,500
Preferred stock interest rate	5.75%
Preferred stock under the if-converted method (in shares)	15,980,050
Preferred stock, shares issued (in shares)	0
Common stock
Class of Stock [Line Items]
Common stock repurchase program amount						$ 300,000,000	$ 200,000,000
Remaining amount of repurchase authority		$ 208,000,000		$ 208,000,000

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Loss - Changes in Accumulated Other Comprehensive Income (Loss) (Details) $ in Millions	6 Months Ended
	Sep. 30, 2020USD ($)
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning Balance	$ 1,313.7
Ending Balance	1,398.4
Total
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning Balance	(124.4)
Other comprehensive income before reclassifications	19.4
Amounts reclassified from accumulated other comprehensive loss	(0.2)
Net current period other comprehensive income (loss)	19.2
Ending Balance	(105.2)
Foreign Currency Translation
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning Balance	(83.8)
Other comprehensive income before reclassifications	19.4
Amounts reclassified from accumulated other comprehensive loss	0
Net current period other comprehensive income (loss)	19.4
Ending Balance	(64.4)
Pension and Postretirement Plans
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning Balance	(40.6)
Other comprehensive income before reclassifications	0
Amounts reclassified from accumulated other comprehensive loss	(0.2)
Net current period other comprehensive income (loss)	(0.2)
Ending Balance	$ (40.8)

Accumulated Other Comprehensi_4

Accumulated Other Comprehensive Loss - Reclassifications out of Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Pension and other postretirement plans
Other income (expense), net	$ 0.6	$ (0.3)	$ 1	$ (1.8)
Benefit for income taxes	(16.1)	(19.5)	(33.3)	(34.3)
Net income	45.4	56.7	81.2	103.4
Reclassification out of Accumulated Other Comprehensive Income | Amortization of prior service credit
Pension and other postretirement plans
Other income (expense), net	(0.1)	(0.1)	(0.2)	(0.2)
Reclassification out of Accumulated Other Comprehensive Income | Settlement
Pension and other postretirement plans
Other income (expense), net			0	0.8
Reclassification out of Accumulated Other Comprehensive Income | Benefit for income taxes
Pension and other postretirement plans
Benefit for income taxes				(0.2)
Net income	$ (0.1)	$ (0.1)	$ (0.2)	$ 0.4

Inventories - Inventory by Cate

Inventories - Inventory by Category (Details) - USD ($) $ in Millions	Sep. 30, 2020	Mar. 31, 2020
Inventory, Net [Abstract]
Finished goods	$ 173.1	$ 145.6
Work in progress	46.9	43.7
Purchased components	73.8	70.4
Raw materials	58.5	54.9
Inventories at First-in, First-Out ("FIFO") cost	352.3	314.6
Adjustment to state inventories at Last-in, First-Out ("LIFO") cost	3.4	2.9
Inventories	$ 355.7	$ 317.5

Goodwill and Intangible Asset_2

Goodwill and Intangible Assets - Changes in Net Carrying Value (Details) $ in Millions	6 Months Ended
	Sep. 30, 2020USD ($)
Goodwill [Roll Forward]
Net carrying amount, beginning of period	$ 1,321.9
Currency translation adjustments	3.6
Purchase accounting adjustments	0.7
Net carrying amount, end of period	1,326.2
Process & Motion Control
Goodwill [Roll Forward]
Net carrying amount, beginning of period	1,121.4
Currency translation adjustments	3.1
Purchase accounting adjustments	0
Net carrying amount, end of period	1,124.5
Water Management
Goodwill [Roll Forward]
Net carrying amount, beginning of period	200.5
Currency translation adjustments	0.5
Purchase accounting adjustments	0.7
Net carrying amount, end of period	$ 201.7

Goodwill and Intangible Asset_3

Goodwill and Intangible Assets - Gross Carrying Amount and Accumulated Amortization (Details) - USD ($) $ in Millions	6 Months Ended	12 Months Ended
	Sep. 30, 2020	Mar. 31, 2020
Intangible assets subject to amortization:
Weighted Average Useful Life	13 years	13 years
Accumulated Amortization	$ (627.1)	$ (607.9)
Intangible assets not subject to amortization - tradenames
Gross Carrying Amount	1,126.2	1,122.1
Net Carrying Amount	499.1	514.2
Tradenames
Intangible assets not subject to amortization - tradenames
Carrying Amount	$ 280.9	$ 280.9
Patents
Intangible assets subject to amortization:
Weighted Average Useful Life	10 years	10 years
Gross Carrying Amount	$ 51.4	$ 51.1
Accumulated Amortization	(41.8)	(41.2)
Net Carrying Amount	$ 9.6	$ 9.9
Customer relationships (including distribution network)
Intangible assets subject to amortization:
Weighted Average Useful Life	13 years	13 years
Gross Carrying Amount	$ 751.2	$ 748
Accumulated Amortization	(569.2)	(552.5)
Net Carrying Amount	$ 182	$ 195.5
Tradenames
Intangible assets subject to amortization:
Weighted Average Useful Life	13 years	13 years
Gross Carrying Amount	$ 42.7	$ 42.1
Accumulated Amortization	(16.1)	(14.2)
Net Carrying Amount	$ 26.6	$ 27.9

Goodwill and Intangible Asset_4

Goodwill and Intangible Assets - Narrative (Details) - USD ($)	3 Months Ended		6 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Goodwill and Intangible Assets Disclosure [Abstract]
Intangible asset amortization expense	$ 9,000,000	$ 8,800,000	$ 18,000,000	$ 17,500,000
Finite-lived intangible assets acquired	0		0
Indefinite-lived intangible assets acquired	0		0
Amortization expense in fiscal year 2020	26,900,000		26,900,000
Amortization expense in fiscal year 2021	34,600,000		34,600,000
Amortization expense in fiscal year 2022	18,800,000		18,800,000
Amortization expense in fiscal year 2023	16,300,000		16,300,000
Amortization expense in fiscal year 2024	16,300,000		16,300,000
Amortization expense in fiscal year 2025	$ 15,200,000		$ 15,200,000

Other Current Liabilities - By

Other Current Liabilities - By Category (Details) - USD ($) $ in Millions	Sep. 30, 2020	Mar. 31, 2020
Components of Other Current Liabilities [Line Items]
Other current liabilities	$ 146.9	$ 128.5
Contract liabilities
Components of Other Current Liabilities [Line Items]
Other current liabilities	6.9	7.3
Sales rebates
Components of Other Current Liabilities [Line Items]
Other current liabilities	34	35.5
Commissions
Components of Other Current Liabilities [Line Items]
Other current liabilities	6.9	7
Restructuring and other similar charges
Components of Other Current Liabilities [Line Items]
Other current liabilities	9.7	9.8
Product warranty
Components of Other Current Liabilities [Line Items]
Other current liabilities	8.3	6.7
Risk management
Components of Other Current Liabilities [Line Items]
Other current liabilities	10.8	10.4
Legal and environmental
Components of Other Current Liabilities [Line Items]
Other current liabilities	2	1.5
Taxes, other than income taxes
Components of Other Current Liabilities [Line Items]
Other current liabilities	8.2	8.3
Income tax payable
Components of Other Current Liabilities [Line Items]
Other current liabilities	17.8	9.9
Interest payable
Components of Other Current Liabilities [Line Items]
Other current liabilities	7.6	8.3
Current portion of operating lease liability
Components of Other Current Liabilities [Line Items]
Other current liabilities	12.1	12.8
Other
Components of Other Current Liabilities [Line Items]
Other current liabilities	$ 22.6	$ 11

Long-Term Debt - Summary of Deb

Long-Term Debt - Summary of Debt (Details) - USD ($) $ in Millions	Sep. 30, 2020	Mar. 31, 2020	Jun. 30, 2019	Dec. 07, 2017
Debt Instrument [Line Items]
Total	$ 1,195.8	$ 1,473.4
Less current maturities	3.2	76.4
Long-term debt	1,192.6	1,397
Term loan | Credit Facility
Debt Instrument [Line Items]
Total	621.3	620.8
Unamortized debt issuance costs	3.7	4.2
Term loan | Revolving Credit Facility
Debt Instrument [Line Items]
Total	$ 0	249.2
Unamortized debt issuance costs		0.8
4.875% Senior Notes Due 2025 | Senior Notes
Debt Instrument [Line Items]
Interest rate	4.875%		4.875%	4.875%
Total	$ 496.1	495.7
Unamortized debt issuance costs	3.9	4.3
Securitization facility borrowings | Other Debt
Debt Instrument [Line Items]
Total	0	74.9
Unamortized debt issuance costs		0.1
Finance leases and other subsidiary debt
Debt Instrument [Line Items]
Total	$ 78.4	$ 32.8

Long-Term Debt - Narrative (Det

Long-Term Debt - Narrative (Details) - USD ($)	6 Months Ended
	Sep. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Jun. 30, 2019	Dec. 07, 2017
Senior Secured Credit Facility | Senior Secured Leverage Ratio (Numerator) | Maximum
Debt Instrument [Line Items]
Covenant terms, company's ratio	6.75
Credit Facility | Senior Secured Credit Facility
Debt Instrument [Line Items]
Maximum borrowing capacity	$ 725,000,000
Remaining borrowing capacity			$ 625,000,000
Weighted-average effective interest rate	1.90%
Weighted-average interest rate, over time	2.09%
Covenant terms, company's ratio	2.2
Revolving Credit Facility | Senior Secured Credit Facility
Debt Instrument [Line Items]
Maximum borrowing capacity	$ 264,000,000
Weighted-average effective interest rate	4.00%
Amounts borrowed	$ 0	$ 250,000,000
Letters of credit outstanding, amount	$ 2,800,000	4,700,000
Senior Notes | 4.875% Senior Notes Due 2025
Debt Instrument [Line Items]
Interest rate	4.875%			4.875%	4.875%
Aggregate principal amount					$ 500,000,000
Notes Payable, Other Payables | Accounts Receivable Securitization Program
Debt Instrument [Line Items]
Maximum borrowing capacity	$ 100,000,000
Remaining borrowing capacity	$ 100,000,000	100,000,000
Weighted-average effective interest rate	1.37%
Weighted-average interest rate, over time	1.56%
Amounts borrowed	$ 0	75,000,000
Letters of credit outstanding, amount	$ 6,100,000	$ 5,700,000
Term of extension option	6 months
Unused capacity, commitment fee percentage	0.40%
Notes Payable, Other Payables | Accounts Receivable Securitization Program | London Interbank Offered Rate (LIBOR)
Debt Instrument [Line Items]
Applicable margin	1.30%

Fair Value Measurements - Sched

Fair Value Measurements - Schedule of Assets and Liabilities Measured on Recurring and Nonrecurring Basis (Details) - Fair Value, Measurements, Recurring - USD ($) $ in Millions	Sep. 30, 2020	Mar. 31, 2020
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Deferred compensation assets	$ 9.9	$ 7.2
Deferred compensation liabilities	10.3	7.4
Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Deferred compensation assets	3.1	1.7
Deferred compensation liabilities	10.3	7.4
Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Deferred compensation assets	6.8	5.5
Deferred compensation liabilities	0	0
Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Deferred compensation assets	0	0
Deferred compensation liabilities	$ 0	$ 0

Fair Value Measurements - Narra

Fair Value Measurements - Narrative (Details) - USD ($) $ in Millions	Sep. 30, 2020	Mar. 31, 2020
Fair Value Disclosures [Abstract]
Fair value of long-term debt	$ 1,207.4	$ 1,398.1

Commitments and Contingencies -

Commitments and Contingencies - Warranty Roll Forward (Details) - USD ($) $ in Millions	6 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Movement in Product Warranty Accrual [Roll Forward]
Balance at beginning of period	$ 6.7	$ 7.2
Charged to operations	2.6	0.9
Claims settled	(1)	(1)
Balance at end of period	$ 8.3	$ 7.1

Commitments and Contingencies_2

Commitments and Contingencies - Narrative (Details) lawsuit in Thousands	6 Months Ended	12 Months Ended
	Sep. 30, 2020USD ($)claimantlawsuit	Mar. 31, 2014USD ($)	Dec. 31, 2002releasedefendant
Loss Contingencies [Line Items]
Indemnification resulting from business acquisition, amount (in excess of)	$ 900,000,000
Environmental Issue | Ellsworth Industrial Park Site
Loss Contingencies [Line Items]
Number of releases, or threatened releases, chlorinated solvents (or more) | release			1
Indemnification resulting from business acquisition, percentage of costs paid to date by seller			100.00%
Environmental Issue | Ellsworth Industrial Park Site | Minimum
Loss Contingencies [Line Items]
Number of defendants | defendant			10
Damages from Product Defects | Stearns
Loss Contingencies [Line Items]
Indemnification resulting from business acquisition, percentage of costs paid to date by seller	100.00%
Number of claimants | claimant	300
Damages from Product Defects | Zurn
Loss Contingencies [Line Items]
Claim settlement funding period		7 years
Litigation settlement		$ 20,000,000
Asbestos Issue | Prager
Loss Contingencies [Line Items]
Insurance coverage, percentage of costs paid to date by insurance providers	100.00%
Asbestos Issue | Falk
Loss Contingencies [Line Items]
Indemnification resulting from business acquisition, percentage of costs paid to date by seller	100.00%
Number of claimants | claimant	100
Asbestos Issue | Zurn
Loss Contingencies [Line Items]
Number of claimants | claimant	7,000
Number of lawsuits | lawsuit	6
Time frame of claims expected to be filed	10 years
Insurance for asbestos claims	$ 50,000,000
Estimated claim payments made over specified period	$ 38,000,000
Time frame of estimated claims disbursements	10 years

Retirement Benefits - Schedule

Retirement Benefits - Schedule of Components of Net Periodic Benefit Cost (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Pension Benefits:
Defined Benefit Plan Disclosure [Line Items]
Service cost	$ 0.2	$ 0.1	$ 0.3	$ 0.2
Interest cost	4.7	5.4	9.3	11
Expected return on plan assets	(4.7)	(5.6)	(9.3)	(11.3)
Settlement	0	0	0	0.8
Amortization:
Net periodic benefit cost	0.2	(0.1)	0.3	0.7
Other Postretirement Benefits:
Defined Benefit Plan Disclosure [Line Items]
Interest cost	0.2	0.1	0.3	0.3
Amortization:
Prior service credit	(0.1)	(0.1)	(0.2)	(0.2)
Net periodic benefit cost	$ 0.1	$ 0	$ 0.1	$ 0.1

Retirement Benefits - Narrative

Retirement Benefits - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Sep. 30, 2019	Jun. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Retirement Benefits [Abstract]
Contributions by employer			$ 6	$ 0.2
Cash contribution to purchase the annuity contract		$ 3.9
Non-cash pre-tax losses from termination of plan	$ 0			$ 0.8

Leases - ROU Assets and Lease L

Leases - ROU Assets and Lease Liability Balances (Details) - USD ($) $ in Millions	Sep. 30, 2020	Mar. 31, 2020
Assets
Operating ROU assets	$ 65.6	$ 71.1
Finance ROU assets	72.5	27.3
Total ROU assets	138.1	98.4
Current
Operating	12.1	12.8
Finance	2.1	0.5
Non-current
Operating	58.3	63.1
Finance	71.8	27.4
Total lease liabilities	144.3	103.8
Finance lease assets, net of accumulated amortization	$ 2.4	$ 1

Leases - Components of Lease Ex

Leases - Components of Lease Expense (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Leases [Abstract]
Operating lease expenses	$ 4.4	$ 3.7	$ 8.9	$ 7.3
Finance lease expenses:
Depreciation of finance ROU assets	1.1	0.3	1.4	0.5
Interest on lease liabilities	1	0.4	1.4	0.7
Total finance lease expense	2.1	0.7	2.8	1.2
Variable and short-term lease expense	1.6	1.1	2.7	2.3
Total lease expense	$ 8.1	$ 5.5	$ 14.4	$ 10.8

Leases - Future Minimum Lease P

Leases - Future Minimum Lease Payments (Details) $ in Millions	Sep. 30, 2020USD ($)
Operating Leases
2020 (through December 31, 2020)	$ 2.4
2021	14.5
2022	14.8
2023	12.1
2024	10.1
Thereafter	31.6
Total future minimum lease payments	85.5
Less: Imputed interest	(15.1)
Total lease liabilities	70.4
Finance Leases
2020 (through December 31, 2020)	1
2021	6.1
2022	6.2
2023	6.2
2024	6.3
Thereafter	95.3
Total future minimum lease payments	121.1
Less: Imputed interest	(47.2)
Total lease liabilities	$ 73.9

Leases - Weighted-Average Remai

Leases - Weighted-Average Remaining Lease Terms (Details)	Sep. 30, 2020	Sep. 30, 2019
Weighted-average remaining lease terms (years):
Operating leases	6 years 6 months	5 years 1 month 6 days
Finance leases	19 years 4 months 24 days	28 years 9 months 18 days
Weighted-average discount rate:
Operating leases	4.90%	4.00%
Finance leases	5.40%	5.70%

Leases - Supplemental Cash Flow

Leases - Supplemental Cash Flow Information (Details) - USD ($) $ in Millions	6 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Cash Flow, Lessee [Abstract]
Operating cash flows from operating leases	$ 7.4	$ 7.1
Operating cash flows from finance leases	1.4	0.8
Financing cash flows from finance leases	0.5	0.2
Right-Of-Use Asset Obtained In Exchange For Lease Liability [Abstract]
Operating leases	0.4	2.8
Finance leases	$ 46.5	$ 0

Stock-Based Compensation - Narr

Stock-Based Compensation - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Share-based Payment Arrangement, Noncash Expense [Abstract]
Stock-based compensation expense	$ 7.4	$ 5.9	$ 20.7	$ 12.8

Stock-Based Compensation - Stoc

Stock-Based Compensation - Stock Options, Restricted Stock Units, and Performance Stock Units (Details)	6 Months Ended
	Sep. 30, 2020$ / sharesshares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of Awards, Stock options (in shares) | shares	197,565
Weighted Average Grant-Date Fair Value, Stock options (in dollars per share) | $ / shares	$ 7.69
Restricted stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of Awards (in shares) | shares	429,153
Weighted Average Grant-Date Fair Value (in dollars per share) | $ / shares	$ 25.54
Performance stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of Awards (in shares) | shares	547,374
Weighted Average Grant-Date Fair Value (in dollars per share) | $ / shares	$ 25.52
Common stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of Awards (in shares) | shares	120,418
Weighted Average Grant-Date Fair Value (in dollars per share) | $ / shares	$ 28.03

Business Segment Information -

Business Segment Information - Narrative (Details)	6 Months Ended
	Sep. 30, 2020segment
Segment Reporting [Abstract]
Number of business segments	2

Business Segment Information _2

Business Segment Information - Schedule of Segment Reporting Information, By Segment (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Segment Reporting Information, Income (Loss) before Income Taxes [Abstract]
Net sales	$ 493.6	$ 521.3	$ 942.7	$ 1,029.6
Income from operations	72.4	88.5	138.4	168.7
Non-operating expense:
Interest expense, net	(11.5)	(15.3)	(24.9)	(30.8)
Gain on the extinguishment of debt	0	3.2	0	3.2
Other income (expense), net	0.6	(0.3)	1	(1.8)
Income before income taxes	61.5	76.1	114.5	139.3
Provision for income taxes	(16.1)	(19.5)	(33.3)	(34.3)
Equity method investment income	0	0.1	0	0.2
Net income from continuing operations	45.4	56.7	81.2	105.2
Loss from discontinued operations, net of tax	0	0	0	(1.8)
Net income	45.4	56.7	81.2	103.4
Non-controlling interest income	0	0.1	0.2	0.3
Net income attributable to Rexnord	45.4	56.6	81	103.1
Dividends on preferred stock	0	(5.8)	0	(11.6)
Net income attributable to Rexnord common stockholders	45.4	50.8	81	91.5
Additional Information
Depreciation and amortization	22.3	21.7	44	42.7
Capital expenditures	6.8	7.4	15.3	13.2
Process & Motion Control
Segment Reporting Information, Income (Loss) before Income Taxes [Abstract]
Net sales	293.9	337	568.3	667.1
Additional Information
Capital expenditures	5.2	5.9	12.5	10.4
Water Management
Segment Reporting Information, Income (Loss) before Income Taxes [Abstract]
Net sales	199.7	184.3	374.4	362.5
Additional Information
Capital expenditures	1.6	1.5	2.8	2.8
Operating Segments | Process & Motion Control
Segment Reporting Information, Income (Loss) before Income Taxes [Abstract]
Income from operations	35.8	58.3	75.4	113.4
Additional Information
Depreciation and amortization	14.8	15	29.1	29.6
Operating Segments | Water Management
Segment Reporting Information, Income (Loss) before Income Taxes [Abstract]
Income from operations	48.7	43.7	88.8	83.7
Additional Information
Depreciation and amortization	7.4	6.6	14.7	12.9
Corporate
Segment Reporting Information, Income (Loss) before Income Taxes [Abstract]
Income from operations	(12.1)	(13.5)	(25.8)	(28.4)
Additional Information
Depreciation and amortization	$ 0.1	$ 0.1	$ 0.2	$ 0.2

Guarantor Subsidiaries - Conden

Guarantor Subsidiaries - Condensed Consolidating Balance Sheets (Details) - USD ($) $ in Millions	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019
Current assets:
Cash and cash equivalents	$ 326.6		$ 573.4
Receivables, net	290.3		334.7
Inventories	355.7		317.5
Other current assets	42.9		38.7
Total current assets	1,015.5		1,264.3
Property, plant and equipment, net	418.1		378.8
Intangible assets, net	499.1		514.2
Goodwill	1,326.2		1,321.9
Investment in:
Other assets	146.5		147.9
Total assets	3,405.4		3,627.1
Current liabilities:
Current maturities of debt	3.2		76.4
Trade payables	157		185.6
Compensation and benefits	49.7		61.8
Current portion of pension and postretirement benefit obligations	3.2		3.2
Other current liabilities	146.9		128.5
Total current liabilities	360		455.5
Long-term debt	1,192.6		1,397
Note payable to affiliates, net	0		0
Pension and postretirement benefit obligations	185		189.6
Deferred income taxes	120.1		121
Other liabilities	149.3		150.3
Total liabilities	2,007		2,313.4
Total stockholders' equity	1,398.4	$ 1,353.7	1,313.7	$ 1,321.4	$ 1,277.9	$ 1,231
Total liabilities and stockholders' equity	3,405.4		3,627.1
Eliminations
Current assets:
Cash and cash equivalents	0		0
Receivables, net	0		0
Inventories	0		0
Other current assets	0		0
Total current assets	0		0
Property, plant and equipment, net	0		0
Intangible assets, net	0		0
Goodwill	0		0
Investment in:
Total assets	(5,649.8)		(5,327.1)
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
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
Total liabilities	0		0
Total stockholders' equity	(5,649.8)		(5,327.1)
Total liabilities and stockholders' equity	(5,649.8)		(5,327.1)
Eliminations, Issuer Subsidiaries
Investment in:
Subsidiaries	(1,479.6)		(1,381.1)
Eliminations, Guarantor Subsidiaries
Investment in:
Subsidiaries	(3,507.3)		(3,324.9)
Eliminations, Non-Guarantor Subsidiaries
Investment in:
Subsidiaries	(662.9)		(621.1)
Parent | Reportable Legal Entities
Current assets:
Cash and cash equivalents	0		11
Receivables, net	0		0
Inventories	0		0
Other current assets	0		0
Total current assets	0		11
Property, plant and equipment, net	0		0
Intangible assets, net	0		0
Goodwill	0		0
Investment in:
Subsidiaries	1,479.6		1,381.1
Other assets	0		0
Total assets	1,479.6		1,392.1
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
Total current liabilities	0		0
Long-term debt	0		0
Note payable to affiliates, net	80.6		77.9
Pension and postretirement benefit obligations	0		0
Deferred income taxes	0		0
Other liabilities	0.6		0.5
Total liabilities	81.2		78.4
Total stockholders' equity	1,398.4		1,313.7
Total liabilities and stockholders' equity	1,479.6		1,392.1
Issuers | Reportable Legal Entities
Current assets:
Cash and cash equivalents	0.2		0.4
Receivables, net	0		0
Inventories	0		0
Other current assets	0		0
Total current assets	0.2		0.4
Property, plant and equipment, net	0		0
Intangible assets, net	0		0
Goodwill	0		0
Investment in:
Subsidiaries	3,507.3		3,324.9
Other assets	0.7		0
Total assets	3,508.2		3,325.3
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	7.3		7.9
Total current liabilities	7.3		7.9
Long-term debt	1,117.4		1,290.9
Note payable to affiliates, net	903.9		645.4
Pension and postretirement benefit obligations	0		0
Deferred income taxes	0		0
Other liabilities	0		0
Total liabilities	2,028.6		1,944.2
Total stockholders' equity	1,479.6		1,381.1
Total liabilities and stockholders' equity	3,508.2		3,325.3
Guarantor Subsidiaries | Reportable Legal Entities
Current assets:
Cash and cash equivalents	105.1		383.9
Receivables, net	182.5		223.5
Inventories	246.5		224.8
Other current assets	18.7		20.5
Total current assets	552.8		852.7
Property, plant and equipment, net	292.9		256.1
Intangible assets, net	410.2		424.8
Goodwill	1,044.2		1,043.6
Investment in:
Subsidiaries	662.9		621.1
Other assets	88.2		88.7
Total assets	3,051.2		3,287
Current liabilities:
Current maturities of debt	2.2		75.4
Trade payables	97.9		123.9
Compensation and benefits	31.8		42.4
Current portion of pension and postretirement benefit obligations	1.8		1.8
Other current liabilities	81.8		79.9
Total current liabilities	215.5		323.4
Long-term debt	71.3		101.8
Note receivable from affiliates, net	(1,067.1)		(795.9)
Pension and postretirement benefit obligations	136.2		142.8
Deferred income taxes	97.2		98.6
Other liabilities	90.8		91.4
Total liabilities	(456.1)		(37.9)
Total stockholders' equity	3,507.3		3,324.9
Total liabilities and stockholders' equity	3,051.2		3,287
Non-Guarantor Subsidiaries | Reportable Legal Entities
Current assets:
Cash and cash equivalents	221.3		178.1
Receivables, net	107.8		111.2
Inventories	109.2		92.7
Other current assets	24.2		18.2
Total current assets	462.5		400.2
Property, plant and equipment, net	125.2		122.7
Intangible assets, net	88.9		89.4
Goodwill	282		278.3
Investment in:
Other assets	57.6		59.2
Total assets	1,016.2		949.8
Current liabilities:
Current maturities of debt	1		1
Trade payables	59.1		61.7
Compensation and benefits	17.9		19.4
Current portion of pension and postretirement benefit obligations	1.4		1.4
Other current liabilities	57.8		40.7
Total current liabilities	137.2		124.2
Long-term debt	3.9		4.3
Note payable to affiliates, net	82.6		72.6
Pension and postretirement benefit obligations	48.8		46.8
Deferred income taxes	22.9		22.4
Other liabilities	57.9		58.4
Total liabilities	353.3		328.7
Total stockholders' equity	662.9		621.1
Total liabilities and stockholders' equity	$ 1,016.2		$ 949.8

Guarantor Subsidiaries - Cond_2

Guarantor Subsidiaries - Condensed Consolidating Statements of Operations (Details) - USD ($) $ in Millions	3 Months Ended				6 Months Ended
	Sep. 30, 2020	Jun. 30, 2020	Sep. 30, 2019	Jun. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Condensed Income Statements, Captions [Line Items]
Net sales	$ 493.6		$ 521.3		$ 942.7	$ 1,029.6
Cost of sales	300.5		313.1		572.7	619.8
Gross profit	193.1		208.2		370	409.8
Selling, general and administrative expenses	105.1		108.8		205.3	218.3
Restructuring and other similar charges	6.6		2.1		8.3	5.3
Amortization of intangible assets	9		8.8		18	17.5
Income from operations	72.4		88.5		138.4	168.7
Interest income (expense), net:
To third parties	(11.5)		(15.3)		(24.9)	(30.8)
To affiliates	0		0		0	0
Gain on the extinguishment of debt	0		3.2		0	3.2
Other (expense) income, net	0.6		(0.3)		1	(1.8)
Income before income taxes	61.5		76.1		114.5	139.3
Provision for income taxes	(16.1)		(19.5)		(33.3)	(34.3)
Equity method investment income	0		0.1		0	0.2
Income (loss) before equity in earnings of subsidiaries	45.4		56.7		81.2	105.2
Equity in income of subsidiaries	0		0		0	0
Net income from continuing operations	45.4		56.7		81.2	105.2
Loss from discontinued operations, net of tax	0		0		0	(1.8)
Net income	45.4		56.7		81.2	103.4
Non-controlling interest income	0		0.1		0.2	0.3
Net income attributable to Rexnord	45.4		56.6		81	103.1
Dividends on preferred stock	0		(5.8)		0	(11.6)
Net income attributable to Rexnord common stockholders	45.4		50.8		81	91.5
Comprehensive income	58.3	$ 42.1	41.6	$ 46.7	100.4	88.3
Eliminations
Condensed Income Statements, Captions [Line Items]
Net sales	(44.4)		(41.5)		(78.8)	(86.2)
Cost of sales	(44.4)		(41.5)		(78.8)	(86.2)
Gross profit	0		0		0	0
Selling, general and administrative expenses	0		0		0	0
Restructuring and other similar charges	0		0		0	0
Amortization of intangible assets	0		0		0	0
Income from operations	0		0		0	0
Interest income (expense), net:
To third parties	0		0		0	0
To affiliates	0		0		0	0
Gain on the extinguishment of debt			0			0
Other (expense) income, net	0		0		0	0
Income before income taxes	0		0		0	0
Provision for income taxes	0		0		0	0
Equity method investment income	0		0		0	0
Income (loss) before equity in earnings of subsidiaries	0		0		0	0
Equity in income of subsidiaries	(92.2)		(133.2)		(161.4)	(242.1)
Net income from continuing operations	(92.2)				(161.4)	(242.1)
Loss from discontinued operations, net of tax	0				0	0
Net income	(92.2)		(133.2)		(161.4)	(242.1)
Non-controlling interest income	0		0		0	0
Net income attributable to Rexnord	(92.2)		(133.2)		(161.4)	(242.1)
Dividends on preferred stock	0		0		0	0
Net income attributable to Rexnord common stockholders	(92.2)		(133.2)		(161.4)	(242.1)
Comprehensive income	(92.2)		(133.2)		(161.4)	(242.1)
Parent | Reportable Legal Entities
Condensed Income Statements, Captions [Line Items]
Net sales	0		0		0	0
Cost of sales	0		0		0	0
Gross profit	0		0		0	0
Selling, general and administrative expenses	0		0		0	0
Restructuring and other similar charges	0		0		0	0
Amortization of intangible assets	0		0		0	0
Income from operations	0		0		0	0
Interest income (expense), net:
To third parties	0		0		0	0
To affiliates	9.6		0.2		19.2	0.4
Gain on the extinguishment of debt			0			0
Other (expense) income, net	0		0		0	0
Income before income taxes	9.6		0.2		19.2	0.4
Provision for income taxes	0		0		0	0
Equity method investment income	0		0		0	0
Income (loss) before equity in earnings of subsidiaries	9.6		0.2		19.2	0.4
Equity in income of subsidiaries	35.8		56.5		62	103
Net income from continuing operations	45.4				81.2	103.4
Loss from discontinued operations, net of tax	0				0	0
Net income	45.4		56.7		81.2	103.4
Non-controlling interest income	0		0		0	0
Net income attributable to Rexnord	45.4		56.7		81.2	103.4
Dividends on preferred stock	0		(5.8)		0	(11.6)
Net income attributable to Rexnord common stockholders	45.4		50.9		81.2	91.8
Comprehensive income	45.4		56.6		81.2	103.4
Issuers | Reportable Legal Entities
Condensed Income Statements, Captions [Line Items]
Net sales	0		0		0	0
Cost of sales	0		0		0	0
Gross profit	0		0		0	0
Selling, general and administrative expenses	0		0		0	0
Restructuring and other similar charges	0		0		0	0
Amortization of intangible assets	0		0		0	0
Income from operations	0		0		0	0
Interest income (expense), net:
To third parties	(10)		(14.9)		(22.8)	(30.2)
To affiliates	5.4		8.4		11.2	17.1
Gain on the extinguishment of debt			0			0
Other (expense) income, net	(0.1)		0.2		(0.2)	0.1
Income before income taxes	(4.7)		(6.3)		(11.8)	(13)
Provision for income taxes	0		0		0	0
Equity method investment income	0		0		0	0
Income (loss) before equity in earnings of subsidiaries	(4.7)		(6.3)		(11.8)	(13)
Equity in income of subsidiaries	40.5		62.8		73.8	116
Net income from continuing operations	35.8				62	103
Loss from discontinued operations, net of tax	0				0	0
Net income	35.8		56.5		62	103
Non-controlling interest income	0		0		0	0
Net income attributable to Rexnord	35.8		56.5		62	103
Dividends on preferred stock	0		0		0	0
Net income attributable to Rexnord common stockholders	35.8		56.5		62	103
Comprehensive income	37.9		51.5		65.1	99.3
Guarantor Subsidiaries | Reportable Legal Entities
Condensed Income Statements, Captions [Line Items]
Net sales	365.7		396.2		707.3	787.9
Cost of sales	224.5		238.3		429.1	476.3
Gross profit	141.2		157.9		278.2	311.6
Selling, general and administrative expenses	80.9		83.5		158.8	166.1
Restructuring and other similar charges	2.2		0.2		4.5	2.7
Amortization of intangible assets	7.4		6.9		14.8	13.8
Income from operations	50.7		67.3		100.1	129
Interest income (expense), net:
To third parties	(1.6)		(0.8)		(2.3)	(1.3)
To affiliates	(14.6)		(6.7)		(29.5)	(13.7)
Gain on the extinguishment of debt			3.2			3.2
Other (expense) income, net	(0.2)		(0.5)		0	(1.2)
Income before income taxes	34.3		62.5		68.3	116
Provision for income taxes	(9.7)		(13.6)		(20.1)	(23.1)
Equity method investment income	0		0		0	0
Income (loss) before equity in earnings of subsidiaries	24.6		48.9		48.2	92.9
Equity in income of subsidiaries	15.9		13.9		25.6	23.1
Net income from continuing operations	40.5				73.8	116
Loss from discontinued operations, net of tax	0				0	0
Net income	40.5		62.8		73.8	116
Non-controlling interest income	0		0		0	0
Net income attributable to Rexnord	40.5		62.8		73.8	116
Dividends on preferred stock	0		0		0	0
Net income attributable to Rexnord common stockholders	40.5		62.8		73.8	116
Comprehensive income	40.6		62.1		74	116.1
Non-Guarantor Subsidiaries | Reportable Legal Entities
Condensed Income Statements, Captions [Line Items]
Net sales	172.3		166.6		314.2	327.9
Cost of sales	120.4		116.3		222.4	229.7
Gross profit	51.9		50.3		91.8	98.2
Selling, general and administrative expenses	24.2		25.3		46.5	52.2
Restructuring and other similar charges	4.4		1.9		3.8	2.6
Amortization of intangible assets	1.6		1.9		3.2	3.7
Income from operations	21.7		21.2		38.3	39.7
Interest income (expense), net:
To third parties	0.1		0.4		0.2	0.7
To affiliates	(0.4)		(1.9)		(0.9)	(3.8)
Gain on the extinguishment of debt			0			0
Other (expense) income, net	0.9		0		1.2	(0.7)
Income before income taxes	22.3		19.7		38.8	35.9
Provision for income taxes	(6.4)		(5.9)		(13.2)	(11.2)
Equity method investment income	0		0.1		0	0.2
Income (loss) before equity in earnings of subsidiaries	15.9		13.9		25.6	24.9
Equity in income of subsidiaries	0		0		0	0
Net income from continuing operations	15.9				25.6	24.9
Loss from discontinued operations, net of tax	0				0	(1.8)
Net income	15.9		13.9		25.6	23.1
Non-controlling interest income	0		0.1		0.2	0.3
Net income attributable to Rexnord	15.9		13.8		25.4	22.8
Dividends on preferred stock	0		0		0	0
Net income attributable to Rexnord common stockholders	15.9		13.8		25.4	22.8
Comprehensive income	$ 26.6		$ 4.6		$ 41.5	$ 11.6

Guarantor Subsidiaries - Cond_3

Guarantor Subsidiaries - Condensed Consolidating Statements of Cash Flows (Details) - USD ($) $ in Millions	6 Months Ended		12 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Mar. 31, 2020
Operating activities
Cash provided by (used for) operating activities	$ 113.8	$ 86.3
Investing activities
Expenditures for property, plant and equipment	(15.3)	(13.2)
Acquisitions, net of cash acquired	0	(25.1)
Proceeds from dispositions of long-lived assets	7.8	2
Payment associated with divestiture of discontinued operations	0	(1.3)
Cash used for investing activities	(7.5)	(37.6)
Financing activities
Proceeds from borrowings of debt	6	0
Repayments of debt	(331.8)	(5.4)
Proceeds from exercise of stock options	7.2	6.9
Taxes withheld and paid on employees' share-based payment awards	(9.4)	(5.7)
Repurchase of common stock	(15)	0
Payment of common stock dividends	(19.2)	0
Payments of preferred stock dividends	0	(11.6)
Cash used for financing activities	(362.2)	(15.8)
Effect of exchange rate changes on cash and cash equivalents	9.1	(5.6)
(Decrease) increase in cash and cash equivalents	(246.8)	27.3
Cash, cash equivalents and restricted cash at beginning of period	573.4	292.5	$ 292.5
Cash, cash equivalents and restricted cash at end of period	326.6	319.8	573.4
Eliminations
Operating activities
Cash provided by (used for) operating activities	0	0
Investing activities
Expenditures for property, plant and equipment	0	0
Acquisitions, net of cash acquired		0
Proceeds from dispositions of long-lived assets	0	0
Payment associated with divestiture of discontinued operations		0
Cash used for investing activities	0	0
Financing activities
Proceeds from borrowings of debt	0
Repayments of debt	0	0
Proceeds from exercise of stock options	0	0
Taxes withheld and paid on employees' share-based payment awards	0	0
Repurchase of common stock	0
Payment of common stock dividends	0
Payments of preferred stock dividends		0
Cash used for financing activities	0	0
Effect of exchange rate changes on cash and cash equivalents	0	0
(Decrease) increase in cash and cash equivalents	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 | Reportable Legal Entities
Operating activities
Cash provided by (used for) operating activities	25.4	10.3
Investing activities
Expenditures for property, plant and equipment	0	0
Acquisitions, net of cash acquired		0
Proceeds from dispositions of long-lived assets	0	0
Payment associated with divestiture of discontinued operations		0
Cash used for investing activities	0	0
Financing activities
Proceeds from borrowings of debt	0
Repayments of debt	0	0
Proceeds from exercise of stock options	7.2	6.9
Taxes withheld and paid on employees' share-based payment awards	(9.4)	(5.7)
Repurchase of common stock	(15)
Payment of common stock dividends	(19.2)
Payments of preferred stock dividends		(11.6)
Cash used for financing activities	(36.4)	(10.4)
Effect of exchange rate changes on cash and cash equivalents	0	0
(Decrease) increase in cash and cash equivalents	(11)	(0.1)
Cash, cash equivalents and restricted cash at beginning of period	11	1.4	1.4
Cash, cash equivalents and restricted cash at end of period	0	1.3	11
Issuer | Reportable Legal Entities
Operating activities
Cash provided by (used for) operating activities	249.8	0.9
Investing activities
Expenditures for property, plant and equipment	0	0
Acquisitions, net of cash acquired		0
Proceeds from dispositions of long-lived assets	0	0
Payment associated with divestiture of discontinued operations		0
Cash used for investing activities	0	0
Financing activities
Proceeds from borrowings of debt	0
Repayments of debt	(250)	0
Proceeds from exercise of stock options	0	0
Taxes withheld and paid on employees' share-based payment awards	0	0
Repurchase of common stock	0
Payment of common stock dividends	0
Payments of preferred stock dividends		0
Cash used for financing activities	(250)	0
Effect of exchange rate changes on cash and cash equivalents	0	0
(Decrease) increase in cash and cash equivalents	(0.2)	0.9
Cash, cash equivalents and restricted cash at beginning of period	0.4	0.2	0.2
Cash, cash equivalents and restricted cash at end of period	0.2	1.1	0.4
Guarantor Subsidiaries | Reportable Legal Entities
Operating activities
Cash provided by (used for) operating activities	(194.9)	42.2
Investing activities
Expenditures for property, plant and equipment	(9.1)	(9.5)
Acquisitions, net of cash acquired		(24.8)
Proceeds from dispositions of long-lived assets	0.6	0.7
Payment associated with divestiture of discontinued operations		0
Cash used for investing activities	(8.5)	(33.6)
Financing activities
Proceeds from borrowings of debt	6
Repayments of debt	(81.4)	(1.1)
Proceeds from exercise of stock options	0	0
Taxes withheld and paid on employees' share-based payment awards	0	0
Repurchase of common stock	0
Payment of common stock dividends	0
Payments of preferred stock dividends		0
Cash used for financing activities	(75.4)	(1.1)
Effect of exchange rate changes on cash and cash equivalents	0	0
(Decrease) increase in cash and cash equivalents	(278.8)	7.5
Cash, cash equivalents and restricted cash at beginning of period	383.9	107.7	107.7
Cash, cash equivalents and restricted cash at end of period	105.1	115.2	383.9
Non-Guarantor Subsidiaries | Reportable Legal Entities
Operating activities
Cash provided by (used for) operating activities	33.5	32.9
Investing activities
Expenditures for property, plant and equipment	(6.2)	(3.7)
Acquisitions, net of cash acquired		(0.3)
Proceeds from dispositions of long-lived assets	7.2	1.3
Payment associated with divestiture of discontinued operations		(1.3)
Cash used for investing activities	1	(4)
Financing activities
Proceeds from borrowings of debt	0
Repayments of debt	(0.4)	(4.3)
Proceeds from exercise of stock options	0	0
Taxes withheld and paid on employees' share-based payment awards	0	0
Repurchase of common stock	0
Payment of common stock dividends	0
Payments of preferred stock dividends		0
Cash used for financing activities	(0.4)	(4.3)
Effect of exchange rate changes on cash and cash equivalents	9.1	(5.6)
(Decrease) increase in cash and cash equivalents	43.2	19
Cash, cash equivalents and restricted cash at beginning of period	178.1	183.2	183.2
Cash, cash equivalents and restricted cash at end of period	$ 221.3	$ 202.2	$ 178.1

Subsequent Events (Details)

Subsequent Events (Details)	Oct. 22, 2020$ / shares
Subsequent Event
Subsequent Event [Line Items]
Quarterly dividend declared (in dollars per share)	$ 0.08