Thermon (THR) 10-Q 8 Feb 18 2018 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Dec. 31, 2017	Feb. 07, 2018
Entity Listings [Line Items]
Entity Registrant Name	Thermon Group Holdings, Inc.
Entity Central Index Key	1,489,096
Current Fiscal Year End Date	--03-31
Entity Filer Category	Large Accelerated Filer
Document Type	10-Q
Document Period End Date	Dec. 31, 2017
Document Fiscal Year Focus	2,018
Document Fiscal Period Focus	Q3
Amendment Flag	false
Entity Common Stock, Shares Outstanding		32,464,315

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2017	Mar. 31, 2017
Current assets:
Cash and cash equivalents	$ 51,171	$ 42,842
Investments	1,031	44,786
Accounts receivable, net of allowance for doubtful accounts of $1,029 and $518 as of December 31, 2017 and March 31, 2017, respectively	85,456	63,719
Inventories, net	65,068	34,020
Costs and estimated earnings in excess of billings on uncompleted contracts	13,379	4,973
Prepaid expenses and other current assets	8,848	5,806
Income tax receivable	1,267	2,028
Total current assets	226,220	198,174
Property, plant and equipment, net	73,750	43,266
Goodwill	216,198	122,521
Intangible assets, net	159,436	86,178
Deferred income taxes	2,901	2,823
Other long term assets	2,463	1,118
Total assets	680,968	454,080
Current liabilities:
Accounts payable	23,323	15,683
Accrued liabilities	19,658	13,142
Current portion of long term debt	1,875	20,250
Billings in excess of costs and estimated earnings on uncompleted contracts	4,878	2,767
Income taxes payable	3,231	481
Total current liabilities	52,965	52,323
Long-term debt, net of current maturities and deferred debt issuance costs and debt discounts of $9,089 and $524 as of December 31, 2017 and March 31, 2017, respectively	239,036	60,226
Deferred income taxes	41,639	25,661
Other noncurrent liabilities	11,434	3,368
Total liabilities	345,074	141,578
Equity
Common stock: $.001 par value; 150,000,000 authorized; 32,459,933 and 32,365,553 shares issued and outstanding at December 31, 2017 and March 31, 2017, respectively	32	32
Preferred stock: $.001 par value; 10,000,000 authorized; no shares issued and outstanding	0	0
Additional paid in capital	221,597	219,284
Accumulated other comprehensive loss	(33,878)	(48,335)
Retained earnings	142,752	136,899
Total Thermon Group Holdings, Inc. shareholders' equity	330,503	307,880
Non-controlling interests	5,391	4,622
Total equity	335,894	312,502
Total liabilities and equity	$ 680,968	$ 454,080

Condensed Consolidated Balance3

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Dec. 31, 2017	Mar. 31, 2017
Debt issuance costs, net	$ 9,089	$ 524
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001
Common stock, shares authorized	150,000,000	150,000,000
Common stock, shares issued	32,459,933	32,365,553
Common stock, shares outstanding	32,459,933	32,365,553
Preferred stock, par value (in dollars per share)	$ 0.001	$ 0.001
Preferred stock, shares authorized	10,000,000	10,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Treasury Stock, Shares	0	0
Thermon Holding Corp.
Accounts receivable, allowance for doubtful accounts (in dollars)	$ 1,029	$ 518

Condensed Consolidated Statemen

Condensed Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2017	Dec. 31, 2016
Income Statement [Abstract]
Sales	$ 92,660	$ 64,340	$ 206,027	$ 196,548
Cost of sales	50,446	35,721	109,039	112,891
Gross profit	42,214	28,619	96,988	83,657
Operating expenses:
Marketing, general and administrative and engineering	27,251	18,357	67,089	57,689
Amortization of intangible assets	4,753	2,963	10,714	8,804
Income from operations	10,210	7,299	19,185	17,164
Other income/(expenses):
Interest income	161	131	553	366
Interest expense	(2,787)	(862)	(4,376)	(2,671)
Loss on extinguishment of debt	(376)	0	(376)	0
Other expense	(5,492)	(6)	(5,563)	(156)
Income before provision for income taxes	1,716	6,562	9,423	14,703
Income tax expense	883	1,245	2,798	3,068
Net income	833	5,317	6,625	11,635
Income attributable to non-controlling interests	234	(41)	769	245
Net income available to Thermon Group Holdings, Inc.	599	5,358	5,856	11,390
Comprehensive income (loss):
Net income available to Thermon Group Holdings, Inc.	599	5,358	5,856	11,390
Foreign currency translation adjustment	1,175	(8,069)	14,457	(8,929)
Derivative valuation, net of tax	0	495	7	655
Comprehensive income (loss)	$ 1,774	$ (2,216)	$ 20,320	$ 3,116
Net Income per common share:
Basic (in dollars per share)	$ 0.02	$ 0.17	$ 0.18	$ 0.35
Diluted (in dollars per share)	$ 0.02	$ 0.16	$ 0.18	$ 0.35
Weighted-average shares used in computing net income per common share:
Basic (in shares)	32,447,838	32,330,392	32,408,608	32,280,539
Diluted (in shares)	32,914,372	32,651,930	32,762,542	32,619,285

Condensed Consolidated Stateme5

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	9 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Operating activities
Net income	$ 6,625	$ 11,635
Adjustment to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	16,488	13,202
Amortization of deferred debt issuance costs	433	298
Amortization of inventory step-up	362	0
Loss on extinguishment of debt	376	0
Stock compensation expense	2,627	2,658
Deferred income taxes	(7,617)	(2,794)
Long term foreign exchange derivative	4,874	0
Remeasurement (gain) on intercompany balances	(2,671)	(621)
Changes in operating assets and liabilities:
Accounts receivable	(4,848)	(724)
Inventories	(9,101)	1,177
Costs and estimated earnings in excess of billings on uncompleted contracts	(6,842)	437
Other current and noncurrent assets	(3,058)	(52)
Accounts payable	2,617	(4,168)
Accrued liabilities and noncurrent liabilities	8,769	(6,161)
Income taxes payable and receivable	2,154	(2,432)
Net cash provided by operating activities	11,188	12,455
Investing activities
Purchases of property, plant and equipment	(6,182)	(5,426)
Sale of rental equipment at net book value	461	312
Proceeds from sale of property, plant and equipment	8	811
Cash paid for acquisitions (net of cash acquired)	(202,693)	0
Purchases of investments	(8,090)	(36,972)
Proceeds from the sale of investments	53,132	0
Net cash provided by (used in) investing activities	(163,364)	(41,275)
Financing activities
Proceeds from senior secured notes	250,000	0
Proceeds from revolving credit facility	10,000	0
Payments on long term debt and revolving credit facility	(91,000)	(10,125)
Issuance costs associated with revolving line of credit and long term debt	(9,611)	0
Proceeds from exercise of stock options	239	129
Repurchase of employee stock units on vesting	(471)	(571)
Lease financing	(193)	(156)
Net cash provided by (used in) financing activities	158,964	(10,723)
Effect of exchange rate changes on cash and cash equivalents	1,541	(3,005)
Change in cash and cash equivalents	8,329	(42,548)
Cash and cash equivalents at beginning of period	51,171	42,022
Cash and cash equivalents at end of period	$ 51,171	$ 42,022

Basis of Presentation and Accou

Basis of Presentation and Accounting Policy Information	9 Months Ended
	Dec. 31, 2017
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation and Accounting Policy Information	Basis of Presentation and Accounting Policy Information Thermon Group Holdings, Inc. and its direct and indirect subsidiaries are referred to collectively as “we,” “our,” or the “Company” herein. We are a provider of highly engineered industrial process heating solutions for process industries. Our core thermal solutions product - also referred to as heat tracing - provides an external heat source to pipes, vessels and instruments for the purposes of freeze protection, temperature and flow maintenance, environmental monitoring, and surface snow and ice melting. As a manufacturer, we provide a suite of products (heating cables, tubing bundles and control systems) and services (design optimization, engineering, installation and maintenance services) required to deliver comprehensive solutions to complex projects. On October 30, 2017 the Company consummated the acquisition of CCI Thermal Technologies Inc. ("CCI"). CCI is engaged in industrial process heating, focused on the development and production of advanced heating and filtration solutions for industrial and hazardous area applications. In addition to our thermal solution offerings, we offer temporary power products that are designed to provide a safe and efficient means of supplying temporary electrical power distribution and lighting at energy infrastructure facilities for new construction and during maintenance and turnaround projects at operating facilities. The accompanying unaudited condensed consolidated financial statements should be read in conjunction with our audited consolidated financial statements and notes thereto for the year ended March 31, 2017 . In our opinion, the accompanying consolidated financial statements reflect all adjustments (consisting only of normal recurring items) considered necessary to present fairly our financial position at December 31, 2017 and March 31, 2017 , and the results of our operations for the three and nine months ended December 31, 2017 and 2016 . Use of Estimates Generally accepted accounting principles (“GAAP”) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reported period. While our management has based their assumptions and estimates on the facts and circumstances existing at December 31, 2017 , actual results could differ from those estimates and affect the reported amounts of assets and liabilities, disclosures of contingent assets and liabilities and the corresponding revenues and expenses as of the date of the financial statements. The operating results for the three and nine months ended December 31, 2017 are not necessarily indicative of the results that may be achieved for the fiscal year ending March 31, 2018 . Reclassifications Certain reclassifications have been made within these consolidated financial statements to conform prior periods to current period classifications. On the consolidated balance sheet at March 31, 2017, we reduced the previously reported balance of prepaid expenses and other current assets by $2,000 and increased income tax receivable by the same amount. The income tax receivable amounts relate to tax payments or accruals made currently, which have not been included in tax returns filed within their respective jurisdictions. The Company believes that presenting these amounts as current income tax receivables provides a better understanding of our position related to taxation obligations . Recent Accounting Pronouncements Revenue Recognition - In May 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update No. 2014-09 "Revenue from Contracts with Customers" (Topic 606), which amends the existing revenue recognition requirements and guidance. The core principle of the new standard is to recognize revenue that reflects the consideration the Company expects to receive for goods or services when or as the promised goods or services are transferred to customers. Topic 606 requires more judgement than current guidance, as management will now be required to: (i) identify each performance obligation in contracts with customers, (ii) estimate any variable consideration included in the transaction price and (iii) allocate the transaction price to each performance obligation. The new revenue standard may be applied retrospectively to each prior period presented or retrospectively with the cumulative effect recognized as of the date of adoption. The Company is currently planning to adopt the amended guidance using the modified retrospective method as of April 1, 2018. To assess the impact of the standard, we utilize internal resources to lead the implementation effort and supplement our internal resources with external consultants. As of the third quarter of fiscal 2018, the Company has completed the evaluation of its revenue streams and has selected a sample of customer contracts that we believe fairly represent contract traits that could be accounted for differently under amended guidance. The Company has begun evaluating the potential impact of the new revenue standard on each of the selected contracts including: (i) estimating the contract consideration under the new standard, (ii) identifying the performance obligations within the customer contracts, (iii) calculating the anticipated allocation of contract consideration to each performance obligation, (iv) determining the timing of revenue recognition for each performance obligation, and (v) determining the classification of the contract revenue for disclosure purposes. The contract reviews are currently in process and we anticipate they will be completed by the end of the 2018 fiscal year. After this work is complete, we believe we will have identified and assessed all material performance obligations impacted by the amended guidance. Stock Compensation - In March 2016, the FASB issued Accounting Standards Update 2016-09 “Compensation-Stock Compensation” (Topic 718), which changes the accounting for certain aspects of share-based payments to employees. The new guidance requires excess tax benefits and tax deficiencies to be recorded in the income statement when the awards vest or are settled. Additionally, cash flows related to excess tax benefits will no longer be separately classified as a financing activity and will be included as an operating activity on the consolidated statements of cash flows. The guidance allows for an accounting policy election to account for forfeitures as they occur. The standard is effective for fiscal years beginning after December 15, 2016, including interim periods within those fiscal years. We adopted this standard effective April 1, 2017 and it did not have a material impact on our consolidated financial statements. Inventory- In July 2015, the FASB issued Accounting Standards Update 2015-11 “Simplifying the Measurement of Inventory” (Topic 330). Under the new guidance, inventory is measured at the lower of cost and net realizable value, and the new guidance eliminates the use of replacement cost and net realizable value less a normal profit margin as techniques to value inventory. Net realizable value is defined as the estimated selling price in the ordinary course of business, less reasonably predictable costs of completion, disposal and transportation. The new guidance will be applied prospectively for annual periods and interim periods within fiscal years beginning after December 15, 2016. We adopted this standard effective April 1, 2017 and it did not have a material impact on our consolidated financial statements. Financial Instruments- In January 2016, the FASB issued Accounting Standards Update 2016-01 “Financial Instruments-Overall” (Subtopic 825-10), which amends the guidance on the classification and measurement of financial instruments. The amendment requires all equity investments to be measured at fair value with changes in the fair value recognized through earnings. The amendment also requires an entity to present separately in other comprehensive income the portion of the total change in the fair value of a liability resulting from a change in the credit risk when an entity has elected the fair value option. The guidance eliminates the requirement to disclose the methods and significant assumptions used to estimate the fair value that is required to be disclosed for financial instruments measured at amortized cost on the balance sheet. The new guidance is effective for fiscal years and interim periods within those fiscal years beginning after December 15, 2017. Early adoption is permitted for certain provisions of the accounting standards update. Upon adoption of the standard, an entity will be required to make a cumulative-effect adjustment to retained earnings as of the beginning of such reporting period. Upon adoption, we do not anticipate this standard will have a material impact on our consolidated financial statements. Leases - In February 2016, the FASB issued Accounting Standards Update 2016-02 “Leases” (Topic 842), which provides guidance on the recognition, measurement, presentation and disclosure on leases. Under the standard, substantially all leases will be reported on the balance sheet as right-of-use assets and lease liabilities. The new guidance is effective for fiscal years and interim periods within those fiscal years beginning after December 15, 2018. Early adoption is permitted. We are currently evaluating the requirements of the standard and have not yet determined its impact on our consolidated financial statements. Financial Instruments- In June 2016, the FASB issued Accounting Standards Update 2016-13 “Financial Instruments-Credit Losses” (Topic 326), which amends the guidance on the impairment of financial instruments. The standard adds an impairment model, referred to as current expected credit loss, which is based on expected losses rather than incurred losses. The standard applies to most debt instruments, trade receivables, lease receivables, reinsurance receivables, financial guarantees and loan commitments. Under the guidance, companies are required to disclose credit quality indicators disaggregated by year of origination for a five-year period. The new guidance is effective for fiscal years and interim periods within those fiscal years beginning after December 15, 2019. We do not anticipate this will have a material impact to our consolidated financial statements. Statement of Cash Flows- In August 2016, the FASB issued Accounting Standards Update 2016-15 “Statement of Cash Flows” (Topic 230), which amends Topic 230 of the accounting standards codification (ASC) to add or clarify guidance on the classification of certain cash receipts and payments in the statement of cash flows. The standard addresses eight types of cash flows, some of which we believe could or will impact our financial statements upon adoption, including debt prepayment or debt extinguishment costs, contingent consideration payments made after a business combination, and proceeds from the settlement of insurance claims. Under the guidance, cash payments for debt prepayment or extinguishment costs must be classified as cash outflows from financing activities. Contingent consideration payments that were not made soon after a business combination must be separated and classified in operating and financing activities. Cash payments up to the amount of the contingent consideration liability recognized as of the acquisition dates, including any measurement-period adjustments, should be classified in financing activities, while any excess cash payments should be classified in operating activities. Cash proceeds from the settlement of insurance claims should be classified on the basis of the nature of the loss. The guidance is effective for fiscal years beginning after December 15, 2017, including interim periods within those years. Early adoption is permitted for all entities. Entities must apply the guidance retrospectively to all periods presented but may be applied prospectively if retrospective application would be impracticable. We do not anticipate this will have a material impact to our consolidated financial statements.

Fair Value Measurements

Fair Value Measurements	9 Months Ended
	Dec. 31, 2017
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements Fair Value . We measure fair value based on authoritative accounting guidance, which defines fair value, establishes a framework for measuring fair value and expands on required disclosures regarding fair value measurements. Inputs are referred to as assumptions that market participants would use in pricing the asset or liability. The uses of inputs in the valuation process are categorized into a three-level fair value hierarchy. • Level 1 — uses quoted prices in active markets for identical assets or liabilities we have the ability to access. • Level 2 — uses observable inputs other than quoted prices in Level 1, such as quoted prices for similar assets and liabilities in active markets; quoted prices for identical or similar assets and liabilities in markets that are not active; or other inputs that are observable or can be corroborated by observable market data. • Level 3 — uses one or more significant inputs that are unobservable and supported by little or no market activity, and that reflect the use of significant management judgment. Financial assets and liabilities with carrying amounts approximating fair value include cash, trade accounts receivable, accounts payable, accrued expenses and other current liabilities. The carrying amount of these financial assets and liabilities approximates fair value because of their short maturities. At December 31, 2017 and March 31, 2017 , no assets or liabilities were valued using Level 3 criteria. Information about our investments and long-term debt that is not measured at fair value is as follows: December 31, 2017 March 31, 2017 Carrying Value Fair Value Carrying Value Fair Value Valuation Technique Financial Assets Certificates of deposits with maturities greater than 90 days $ 1,031 $ 1,031 $ 44,786 $ 44,786 Level 2 - Market Approach Financial Liabilities Outstanding principal amount of senior secured credit facility $ 250,000 $ 250,000 $ 81,000 $ 81,000 Level 2 - Market Approach At December 31, 2017 and March 31, 2017 , the fair value of our variable rate term loan approximates its carrying value as we pay interest based on the current market rate. As the quoted price is only available for similar financial assets, the Company concluded the pricing is indirectly observable through dealers and has been classified as Level 2. Investments At December 31, 2017 and March 31, 2017 , the Company maintained $1,031 and $44,786 , respectively, of term deposit accounts at several foreign financial institutions with whom we have an established relationship. Maturities on these deposits are greater than 90 days and less than one year and accordingly are classified as investments. The Company concluded that since the interest rates for these term deposits are based on the quoted rates from the various financial institutions that the pricing is indirectly observable and has been classified as a Level 2 market approach. Acquisition Related Foreign Exchange Option In connection with the execution of the purchase agreement for the CCI acquisition on October 3, 2017, we entered into a combination of option contracts to secure the exchange rate of $200,000 CAD that would be contributed by Thermon Holding Corp. at closing on October 30, 2017. The options were structured such that the $200,000 CAD would be exchanged for no more than $162,061 and no less than $159,198 USD. At settlement date, Thermon took delivery of $200,000 CAD for $159,198 . At closing of the CCI acquisition, the Canadian dollar weakened such that the actual spot foreign exchange rate was $155,872 . The resulting difference of $3,326 was recognized as realized loss on Foreign Exchange. Cross Currency Swap The Company has entered into a long term cross currency swap to hedge the currency rate fluctuations related to a $112,750 intercompany receivable from our wholly-owned Canadian subsidiary, Thermon Canada Inc., maturing on October 30, 2022. Periodic principal payments are to be settled twice annually with interest payments settled quarterly through the cross currency derivative contract. We do not designate the cross currency swap as a cash flow hedge under ASC 815. At December 31, 2017 we recorded $4,877 of unrealized mark to market loss on the Cross Currency Swap which is reported as "Other non-current liabilities", in the Condensed Consolidated Balance Sheet. The mark to market valuation has been determined by actual quoted prices (Level 2). For the three and nine months ended December 31, 2017 the loss on the Long-term Derivative Contract were offset by unrealized gains on the intercompany note of $2,609 for a net loss of $2,268 . Trade Related Foreign Currency Forward Contracts We transact business in various foreign currencies and have established a program that primarily utilizes foreign currency forward contracts to offset the risk associated with the effects of certain foreign currency exposures. Under this program, increases or decreases in our foreign currency exposures are offset by gains or losses on the forward contracts to mitigate foreign currency transaction gains or losses. These foreign currency exposures arise from intercompany transactions as well as third party accounts receivable or payable that are denominated in foreign currencies. Our forward contracts generally have terms of 30 days. We do not use forward contracts for trading purposes or designate these forward contracts as hedging instruments pursuant to ASC 815. We adjust the carrying amount of all contracts to their fair value at the end of each reporting period and unrealized gains and losses are included in our results of operations for that period. These gains and losses are designed to offset gains and losses resulting from settlement of receivables or payables by our foreign operations which are settled in currency other than the local transactional currency. The fair value is determined by quoted prices from active foreign currency markets (Level 2). The condensed consolidated balance sheets reflect unrealized gains within accounts receivable, net and unrealized losses within accrued liabilities. Our ultimate realized gain or loss with respect to currency fluctuations will depend on the currency exchange rates and other factors in effect as the contracts mature. As of December 31, 2017 and March 31, 2017 , the notional amounts of forward contracts were as follows: Notional amount of foreign currency forward contracts by currency December 31, 2017 March 31, 2017 Russian Ruble $ 3,442 $ 250 Euro 4,000 — South Korean Won 10,700 1,300 Mexican Peso 300 450 Australian Dollar 950 375 Total notional amounts $ 19,392 $ 2,375 The following table represents the fair value of our foreign currency forward contracts: December 31, 2017 March 31, 2017 Fair Value Fair Value Assets Liabilities Assets Liabilities Foreign currency forward contracts $ 356 $ 61 $ 62 $ 10 Foreign currency gains or losses related to our forward contracts in the accompanying condensed consolidated statements of operations and comprehensive income were losses of $186 and $476 in the three months ended December 31, 2017 and 2016 , respectively, and losses of $54 and $622 for the nine months ended December 31, 2017 and 2016 . Gains and losses from our forward contracts were offset by transaction gains or losses incurred with the settlement of transactions denominated in foreign currencies. For the three months ended December 31, 2017 and 2016 , our net foreign currency transactions were losses of $5,527 and $34 , respectively, and losses of $5,641 and $432 for the nine months ended December 31, 2017 and 2016 , respectively.

Acquisitions

Acquisitions	9 Months Ended
	Dec. 31, 2017
Business Combinations [Abstract]
Acquisitions	Acquisitions On October 30, 2017, 2071827 Alberta Ltd. ("MergerSub"), an indirect, wholly owned subsidiary of the Company, completed the acquisition of 100% of the equity interests of CCI and certain related real estate assets for $261,950 CAD (approximately $204,235 USD at the exchange rate as of October 30, 2017) in cash. MergerSub and CCI amalgamated immediately after the closing of the acquisition to form Thermon Heating Systems, Inc. ("THS"), an indirect, wholly-owned subsidiary of the Company. THS is engaged in industrial process heating, focused on the development and production of advanced heating and filtration solutions for industrial and hazardous area applications and is headquartered in Edmonton, Alberta, Canada. THS markets its products through several diverse brands known for high quality, safety and reliability, and serves clients in the energy, petrochemical, electrical distribution, power, transit and industrial end markets globally. We believe we will be able to leverage our existing global sales force to further expand the reach of THS's product offerings. We recognized $87,540 of goodwill in connection with the THS transaction. THS has contributed $16,057 and $2,851 of revenue and operating income, respectively, to our Condensed Consolidated Statements of Operations and Comprehensive Income for the three and nine months ended December 31, 2017 . Pro forma financial information- The following table presents selected unaudited pro forma information for the Company assuming the acquisition of CCI had occurred as of April 1, 2016. This pro forma financial information is presented for informational and illustrative purposes and does not purport to represent what the Company’s actual results would have been if the acquisition had occurred as of the date indicated or what such results would be for any future periods. In addition, the unaudited pro forma results do not include any anticipated synergies or other expected benefits of the acquisition or costs necessary to obtain the anticipated synergies and benefits. The pro forma financial information includes the amortization associated with the acquired intangible assets, interest expense associated with debt used to fund the acquisition, amortization of the inventory step-up, removal of aircraft and rent expense for assets not assumed in the transaction, acquisition related expenses, and the income tax affected for the pro forma results. (Dollars in Thousands, except share and per share data) Pro Forma Financial Information (Unaudited) Three months ended December 31, Nine months ended December 31, 2017 2016 2017 2016 Revenues $ 99,281 $ 83,779 $ 245,878 $ 241,890 Net income available to Thermon Group Holdings, Inc. (loss) 362 4,550 (294 ) (1,716 ) Earnings per share: Basic $ 0.01 $ 0.14 $ (0.01 ) $ (0.05 ) Diluted $ 0.01 $ 0.14 $ (0.01 ) $ (0.05 ) The following table details the purchase price of the THS transaction: Consideration to or on behalf of sellers at close $ 204,235 Fair value of total consideration transferred 204,235 The following table summarizes the preliminary fair value of the assets acquired and liabilities assumed: Assets acquired: Cash $ 1,534 Accounts receivable 14,351 Inventories 20,489 Other current assets 731 Property, plant and equipment 29,464 Identifiable intangible assets 79,002 Goodwill 87,540 Total assets 233,111 Liabilities assumed: Current liabilities 6,255 Other non-current liabilities 500 Non-current deferred tax liability 22,121 Total liabilities 28,876 Total consideration $ 204,235 In total, $3,839 of transaction costs were incurred related to the THS transaction, all of which were incurred during and prior to the three months ended December 31, 2017. Our provisional estimate of identifiable intangible assets at December 31, 2017 that were related to the THS transaction, inclusive of currency translation adjustments for the period, consisted of the following: Amortization period Gross Carrying Amount at December 31, 2017 Accumulated Amortization Net Carrying Amount at December 31, 2017 Products 10 Years $ 66,408 $ 1,107 $ 65,301 Customer relationships 17 Years 11,465 112 11,353 Backlog 1 Year 3,320 553 2,767 Total $ 81,193 $ 1,772 $ 79,421 The weighted average useful life of acquired finite lived intangible assets related to THS transaction is 10.6 years .

Net Income per Common Share

Net Income per Common Share	9 Months Ended
	Dec. 31, 2017
Earnings Per Share [Abstract]
Net Income per Common Share	Net Income per Common Share Basic net income per common share is computed by dividing net income available to Thermon Group Holdings, Inc. by the weighted average number of common shares outstanding during each period. Diluted net income per common share is computed by dividing net income available to Thermon Group Holdings, Inc. by the weighted average number of common shares and common share equivalents outstanding (if dilutive) during each period. The number of common share equivalents, which includes options and both restricted and performance stock units, is computed using the treasury stock method. With regard to the performance stock units, we assumed that the associated performance targets will be met at the target level of performance for purposes of calculating diluted net income per common share. The reconciliations of the denominators used to calculate basic and diluted net income per common share for the three and nine months ended December 31, 2017 and 2016 , respectively, are as follows: Three Months Ended December 31, 2017 Three Months Ended December 31, 2016 Nine Months Ended December 31, 2017 Nine Months Ended December 31, 2016 Basic net income per common share Net income available to Thermon Group Holdings, Inc. $ 599 $ 5,358 $ 5,856 $ 11,390 Weighted-average common shares outstanding 32,447,838 32,330,392 32,408,608 32,280,539 Basic net income per common share $ 0.02 $ 0.17 $ 0.18 $ 0.35 Three Months Ended December 31, 2017 Three Months Ended December 31, 2016 Nine Months Ended December 31, 2017 Nine Months Ended December 31, 2016 Diluted net income per common share Net income available to Thermon Group Holdings, Inc. $ 599 $ 5,358 $ 5,856 $ 11,390 Weighted-average common shares outstanding 32,447,838 32,330,392 32,408,608 32,280,539 Common share equivalents: Stock options 233,618 222,152 222,857 224,291 Restricted and performance stock units 232,916 99,386 131,077 114,455 Weighted average shares outstanding – dilutive (1) 32,914,372 32,651,930 32,762,542 32,619,285 Diluted net income per common share $ 0.02 $ 0.16 $ 0.18 $ 0.35 (1) For the three and nine months ended December 31, 2017 , 28,499 and 70,164 equity awards, respectively, were not included in the calculation of diluted net income per common share, as they would have had an anti-dilutive effect. For the three and nine months ended December 31, 2016 , 45,140 and 44,368 equity awards, respectively, were not included in the calculation of diluted net income per common share, as they would have had an anti-dilutive effect.

Inventories

Inventories	9 Months Ended
	Dec. 31, 2017
Inventory Disclosure [Abstract]
Inventories	Inventories Inventories consisted of the following: December 31, March 31, Raw materials $ 33,279 $ 12,270 Work in process 6,078 1,769 Finished goods 27,330 21,310 66,687 35,349 Valuation reserves (1,619 ) (1,329 ) Inventories, net $ 65,068 $ 34,020

Goodwill

Goodwill	9 Months Ended
	Dec. 31, 2017
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Other Intangible Assets	Goodwill and Other Intangible Assets Goodwill The carrying amount of goodwill by operating segment as of December 31, 2017 is as follows: United States Canada Europe Asia Total Balance as of March 31, 2017 $ 52,016 $ 43,444 $ 18,437 $ 8,624 $ 122,521 Goodwill acquired — 87,540 — — 87,540 Foreign currency translation impact — 4,003 2,134 — 6,137 Balance as of December 31, 2017 $ 52,016 $ 134,987 $ 20,571 $ 8,624 $ 216,198 Goodwill is tested for impairment on an annual basis, and between annual tests if indicators of potential impairment exist. We perform a qualitative analysis to determine whether it is more likely than not that the fair value of a reporting unit is less than its carrying amount, including goodwill. If required, we also perform a quantitative analysis using the income approach, based on discounted future cash flows, which are derived from internal forecasts and economic expectations, and the market approach based on market multiples of guideline public companies. The most significant inputs in the Company's quantitative goodwill impairment tests are projected financial information, the weighted average cost of capital and market multiples for similar transactions. Our annual impairment test is performed during the fourth quarter of our fiscal year. In prior years, we experienced sizable declines in revenue and operating results within our Canadian operations, and considered such to be an indication of potential goodwill and intangible asset impairment. These declines in operating results principally resulted from lower crude oil prices, which had a significant adverse impact on capital spending in Canada. During fiscal year 2018, we have experienced increased revenues and operating results in Canada, and project continued growth. Accordingly, during the third quarter of fiscal 2018, we did not conclude a triggering event existed within our Canadian reporting units requiring further analysis. We will continue to evaluate our Canadian operations and assess on a quarterly basis whether it is more likely than not that the fair value of the Canadian reporting unit is less than its carrying amount. Similarly, based upon our qualitative analyses, we have not determined that it is more likely than not that the fair value of our U.S. reporting unit is less than its carrying amount; however, we have experienced losses in the U.S. for each of the first two quarters of fiscal 2018. If changes in estimates and assumptions used to determine whether impairment exists, or if we experience future declines in actual and forecasted operating results and/or market conditions in the United States, we may be required to reevaluate the fair value of our United States reporting unit, which could ultimately result in an impairment to goodwill and/or indefinite-lived intangible assets in future periods. Our total intangible assets consisted of the following: Gross Carrying Amount at December 31, 2017 Accumulated Amortization Net Carrying Amount at December 31, 2017 Gross Carrying Amount at March 31, 2017 Accumulated Amortization Net Carrying Amount at March 31, 2017 Products $ 66,408 $ 1,107 $ 65,301 $ — $ — $ — Trademarks $ 46,248 $ 742 $ 45,506 $ 44,563 $ 521 $ 44,042 Developed technology 10,181 3,989 6,192 9,796 3,454 6,342 Customer relationships 114,148 75,094 39,054 99,676 64,682 34,994 Certifications 459 — 459 442 — 442 Other 5,958 3,034 2,924 2,626 2,268 358 Total $ 243,402 $ 83,966 $ 159,436 $ 157,103 $ 70,925 $ 86,178

Accrued Liabilities

Accrued Liabilities	9 Months Ended
	Dec. 31, 2017
Payables and Accruals [Abstract]
Accrued Liabilities	Accrued Liabilities Accrued current liabilities consisted of the following: December 31, March 31, Accrued employee compensation and related expenses $ 12,269 $ 8,364 Accrued interest 1,517 — Customer prepayment 706 168 Warranty reserve 346 300 Professional fees 2,456 1,631 Sales tax payable 1,352 1,573 Other 1,012 1,106 Total accrued current liabilities $ 19,658 $ 13,142

Short-Term Revolving Credit Fac

Short-Term Revolving Credit Facilities	9 Months Ended
	Dec. 31, 2017
Short-term Debt [Abstract]
Short-Term Revolving Credit Facilities	Short-Term Revolving Credit Facilities The Company’s subsidiary in the Netherlands has a revolving credit facility in the amount of Euro 4,000 (equivalent to $4,791 at December 31, 2017 ). The facility is collateralized by such subsidiary's receivables, inventory, equipment, furniture and real estate. No amounts were outstanding under this facility at December 31, 2017 or March 31, 2017 . The Company’s subsidiary in India has a revolving credit facility in the amount of 80,000 Rupees (equivalent to $1,251 at December 31, 2017 ). The facility is collateralized by such subsidiary's receivables, inventory, real estate, a letter of credit and cash. No amounts were outstanding under this facility at December 31, 2017 or March 31, 2017 . The Company’s subsidiary in Australia has a revolving credit facility in the amount of $230 Australian Dollars (equivalent to $180 at December 31, 2017 ). The facility is collateralized by such subsidiary's real estate. No amounts were outstanding under this facility at December 31, 2017 or March 31, 2017 . Under the Company’s senior secured revolving credit facility described below in Note 9, “Long-Term Debt,” there were no outstanding borrowings at December 31, 2017 or March 31, 2017 . During the three and nine months ended December 31, 2017 , the Company had $6,000 and $10,000 , respectively, in borrowings from the revolving credit facility. All subsequent revolving credit facility borrowings were repaid in full by the end of the reporting period.

Long-Term Debt

Long-Term Debt	9 Months Ended
	Dec. 31, 2017
Debt Disclosure [Abstract]
Long-Term Debt	Long-Term Debt Long-term debt consisted of the following: December 31, March 31, Variable Rate Term Loan, due October 2024, net of deferred debt issuance costs and debt discounts of $9,089 as of December 31, 2017 $ 240,911 $ — Variable Rate Term Loan, due April 2019, net of deferred debt issuance costs of $524 as of March 31, 2017 — 80,476 Less current portion (1,875 ) (20,250 ) Total long-term debt $ 239,036 $ 60,226 Senior Secured Credit Facility On October 30, 2017, we entered into a credit agreement with JPMorgan Chase Bank, N.A. as administrative agent, that provides for a $250,000 variable rate senior secured term loan B facility and $60,000 senior secured revolving credit facility, which we refer to collectively as our “credit facility”. The proceeds of the term loan B were used to (1) pay in full $70,875 principal and interest on a previously issued term loan A due April 2019; (2) repay $6,000 in unpaid principal and interest on the Company's terminated revolving line of credit; (3) to fund a portion of the purchase price of the acquisition of all of the equity interests of CCI and certain related real estate assets for approximately $164,900 ; and (4) pay certain transaction fees and expenses in connection with the THS transaction and the credit facility. Interest rates and fees. The Company will have the option to pay interest on the term loan B at a base rate, plus an applicable margin, or at a rate based on LIBOR, (subject to a floor of 1.00% ), plus an applicable margin. The applicable margin for base rate loans is 275 basis points and the applicable margin for LIBOR loans is 375 basis points. The Company may borrow revolving loans in US dollars and the Company may also borrow revolving loans in Canadian dollars. Borrowings under the revolving credit facility (a) made in US dollars will bear interest at a rate equal to a base rate, plus an applicable margin of 225 basis points or at a rate based on LIBOR, plus an applicable margin of 325 basis points and (b) made in Canadian dollars will bear interest at a rate equal to a Canadian base rate, plus an applicable margin of 225 basis points or at a rate based on CDOR, plus an applicable margin of 325 basis points, provided that, following the completion of the fiscal quarter ending March 31, 2018, the applicable margins in each case will be determined based on a leverage-based performance grid, as set forth in the credit agreement. In addition to paying interest on outstanding principal under the revolving credit facility, the Company is required to pay a commitment fee in respect of unutilized revolving commitments of 0.50% per annum. Following the completion of the fiscal quarter ending March 31, 2018, the commitment fee will be determined based on a leverage-based performance grid. Maturity and repayment. The revolving credit facility terminates on October 28, 2022. The scheduled maturity date of the term loan facility is October 30, 2024. Commencing April 1, 2018, the term loan will amortize in equal quarterly installments of 0.25% of the $250,000 term loan, with the payment of the balance at maturity. The Company will be able to voluntarily prepay the principal of the term loan without penalty or premium (subject to breakage fees) at any time in whole or in part; provided that for the first six months after the October 30, 2017 closing date, the Company is required to pay a 1% premium for prepayments of the term loan with the proceeds of certain re‑pricing transactions. The Company is required to repay the term loan with certain asset sale and insurance proceeds, certain debt proceeds and, commencing for the fiscal year ending March 31, 2019, 50% of excess cash flow (reducing to 25% if the Company’s leverage ratio is less than 4.0 to 1.0 but greater than or equal to 3.5 to 1.0 and 0% if the Company’s leverage ratio is less than 3.5 to 1.0 ). Accordion. The credit facility allows for incremental term loans and incremental revolving commitments in an amount not to exceed $30,000 and an unlimited additional amount that would not cause the consolidated secured leverage ratio to exceed 4.0 to 1.0 (or, if less, the maximum consolidated leverage ratio permitted by the revolving credit facility on such date). At December 31, 2017 , we had no outstanding borrowings under our revolving credit facility. The interest rate had the Company had outstanding borrowings on December 31, 2017 would be 5.13% . As of December 31, 2017 , we had $55,085 of available borrowing capacity under our revolving credit facility after taking into account the borrowing base and letters of credit outstanding. The variable rate term loan bears interest at the LIBOR rate plus an applicable margin dictated by our leverage ratio (as described above). Commencing April 1, 2018, the Company will be required to make quarterly principal payments of the term loan of $625 through July 31, 2024. The remaining $233,750 is due at maturity of the term loan facility on October 30, 2024. Guarantees; security. The term loan is guaranteed by the Company and all of the Company's current and future wholly-owned domestic material subsidiaries (the “US Subsidiary Guarantors”), subject to certain exceptions. Obligations of the Company under the revolving credit facility are guaranteed by the Company and the US Subsidiary Guarantors. The obligations of Thermon Canada Inc. (the "Canadian Borrower") under the revolving credit facility are guaranteed by the Company, Thermon Holding Corp. (the "US Borrower"), the US Subsidiary Guarantors and each of the wholly owned Canadian material subsidiaries of the Canadian Borrower, subject to certain exceptions. The term loan and the obligations of the US Borrower under the revolving credit facility are secured by a first lien on all of the Company’s assets and the assets of the US Subsidiary Guarantors, including 100% of the capital stock of the US Subsidiary Guarantors and 65% of the capital stock of the first tier material foreign subsidiaries of the Company, the US Borrower and the US Subsidiary Guarantors, subject to certain exceptions. The obligations of the Canadian Borrower under the revolving credit facility are secured by a first lien on all of the Company's assets, the US Subsidiary Guarantors' assets, the Canadian Borrower’s assets and the assets of the material Canadian subsidiaries of the Canadian Borrower, including 100% of the capital stock of the Canadian Borrower’s material Canadian subsidiaries. Financial covenants. The term loan is not subject to any financial covenants. The revolving credit facility requires the Company, on a consolidated basis, to maintain certain financial covenant ratios. The Company must maintain a consolidated leverage ratio on the last day of the following periods: 5.5 : 1.0 for December 31, 2017 through September 30, 2018; 5.0 : 1.0 for December 31, 2018 through September 30, 2019; 4.5 : 1.0 for December 31, 2019 through September 30, 2020; and 3.8 : 1.0 for December 31, 2020 and each fiscal quarter thereafter. In addition, on the last day of any period of four fiscal quarters, the Company must maintain a consolidated fixed charge coverage ratio of not less than 1.3 : 1.0 . As of December 31, 2017 , we were in compliance with all financial covenants of the credit facility. Restrictive covenants. The credit agreement governing our facility contains various restrictive covenants that, among other things, restrict or limit our ability to (subject to certain negotiated exceptions): incur additional indebtedness; grant liens; make fundamental changes; sell assets; make restricted payments; enter into sales and leasebacks; make investments; prepay certain indebtedness; enter into transactions with affiliates; and enter into restrictive agreements.

Related-Party Transactions

Related-Party Transactions	9 Months Ended
	Dec. 31, 2017
Related Party Transactions [Abstract]
Related-Party Transactions	Related-Party Transactions In connection with the Sumac Fabrication Co. Ltd. ("Sumac") transaction, one of the former Sumac principals retained 25% of the ownership of the Sumac business unit. This individual is employed by the Company and serves as the general manager of the Sumac business unit. During fiscal 2017, this individual, together with the two other former principals of Sumac, who are not employed by the Company were paid $5,805 in the aggregate in full satisfaction of the Company's obligations under the $5,905 non-interest bearing performance-based note issued in connection with the Sumac transaction.

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Dec. 31, 2017
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies At December 31, 2017 , the Company had in place letter of credit guarantees and performance bonds securing performance obligations of the Company. These arrangements totaled approximately $18,178 . Of this amount, $1,738 is secured by cash deposits at the Company’s financial institutions and an additional $4,915 represents a reduction of the available amount of the Company's short-term and long-term revolving lines of credit. Included in prepaid expenses and other current assets at December 31, 2017 and March 31, 2017 was approximately $1,738 and $1,450 , respectively, of cash deposits pledged as collateral on performance bonds and letters of credit. Our Indian subsidiary also has $5,678 in customs bonds outstanding to secure the Company's customs and duties obligations in India. We are involved in various legal and administrative proceedings that arise from time to time in the ordinary course of doing business. Some of these proceedings may result in fines, penalties or judgments being assessed against us, which may adversely affect our financial results. In addition, from time to time, we are involved in various disputes, which may or may not be settled prior to legal proceedings being instituted and which may result in losses in excess of accrued liabilities, if any, relating to such unresolved disputes. Expenses related to litigation and other such proceedings or disputes reduce operating income. As of December 31, 2017 , management believes that adequate reserves have been established for any probable and reasonably estimable losses. We do not believe that the outcome of any of these proceedings or disputes would have a significant adverse effect on our financial position, long-term results of operations, or cash flows. It is possible, however, that charges related to these matters could be significant to our results of operations or cash flows in any one accounting period. The Company has no outstanding legal matters outside of matters arising in the ordinary course of business. We can give no assurances we will prevail in any of these matters.

Stock-Based Compensation Expens

Stock-Based Compensation Expense	9 Months Ended
	Dec. 31, 2017
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Stock-Based Compensation Expense	Stock-Based Compensation Expense Our board of directors has adopted and the shareholders have approved two stock option award plans. The 2010 Thermon Group Holdings, Inc. Restricted Stock and Stock Option Plan (“2010 Plan”) was approved on July 28, 2010. The 2010 Plan authorized the issuance of 2,767,171 stock options or restricted shares (on a post-stock split basis). On April 8, 2011, the board of directors approved the Thermon Group Holdings, Inc. 2011 Long-Term Incentive Plan (“2011 LTIP”). The 2011 LTIP made available 2,893,341 shares of the Company’s common stock that may be awarded to employees, directors or non-employee contractors as compensation in the form of stock options, restricted stock awards or restricted stock units. At December 31, 2017 , there were 391,598 options outstanding. For the three months ended December 31, 2017 and 2016 , stock compensation expense was $895 and $837 , respectively, and $2,627 and $2,658 for the nine months ended December 31, 2017 , and 2016 , respectively. During the nine months ended December 31, 2017 , 106,891 restricted stock units were issued to our employees with an aggregate grant date fair value as determined by the closing price of our stock on the respective grant dates of $1,985 . The awards will be expensed on a straight-line basis over the three -year service period. At each anniversary of the restricted stock units' grant date, a proportionate number of stock units will become vested for the employees and the shares will become issued and outstanding. We maintain a plan to issue our directors awards of fully vested common stock every three months for a total award over a twelve-month period of approximately $420 . During the three and nine months ended December 31, 2017 , 5,782 and 15,834 fully vested common shares, respectively, were issued in the aggregate to our directors. The aggregate grant date fair value as determined by the closing price of our common stock on the grant date was $105 and $306 , respectively, for the three and nine months ended December 31, 2017 . The fair value of the awards is expensed on each grant date. During the nine months ended December 31, 2017 , a target amount of 15,438 performance stock units were issued to certain members of our senior management that had a total grant date fair value of $340 . The performance indicator for these performance stock units is based on the market performance of our stock price, from the date of grant through March 31, 2020, relative to the market price performance of a pre-determined peer group of companies. Since the performance indicator is market-based, we used a Monte-Carlo valuation model to calculate the probable outcome of the performance measure to arrive at the fair value. The requisite service period required to earn the awards is through March 31, 2020. We will expense the fair value of the performance stock units over the service period on a straight-line basis whether or not the stock price performance condition is met. At the end of the performance period, the performance stock units will be evaluated with the requisite number of shares being issued. The possible number of shares that could be issued ranges from zero to 30,876 in the aggregate. Shares that are not awarded at the measurement date will be forfeited. In addition to the market-based performance stock units issued to certain members of senior management, we also granted these individuals, during the nine months ended December 31, 2017 , a target amount of 58,246 performance stock units based on the Company's Adjusted EBITDA performance over a three -year period ending March 31, 2020. The total grant date fair value, as determined by the closing price of our common stock on the date of the grant, was $1,080 . At each reporting period, we will estimate how many awards senior management may achieve and adjust our stock compensation expense accordingly. At the end of the performance period, the performance stock units will be evaluated with the requisite number of shares issued. The possible number of shares that could be issued under such performance stock units ranges from zero to 116,492 in the aggregate. Shares that are not awarded after the end of the measurement period will be forfeited.

Income Taxes

Income Taxes	9 Months Ended
	Dec. 31, 2017
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes On December 22, 2017, the United States enacted significant changes to the U.S. tax law following the passage and signing of H.R.1, “An Act to Provide for Reconciliation Pursuant to Titles II and V of the Concurrent Resolution on the Budget for Fiscal Year 2018” (the “Tax Act”) (previously known as “The Tax Cuts and Jobs Act”). The Tax Act included significant changes to existing tax law, including a permanent reduction to the U.S. federal corporate income tax rate from 35% to 21%, a one-time repatriation tax on deferred foreign income (“Transition Tax”), deductions, credits and business-related exclusions. On December 22, 2017, the Securities and Exchange Commission ("SEC") issued Staff Accounting Bulletin 118 (“SAB 118”). SAB 118 expresses views of the SEC regarding ASC Topic 740, Income Taxes (“ASC 740”) in the reporting period that includes the enactment date of the Tax Act. The SEC staff issuing SAB 118 (the “Staff”) recognized that a registrant’s review of certain income tax effects of the Tax Act may be incomplete at the time financial statements are issued for the reporting period that includes the enactment date, including interim periods therein. The Staff’s view of the enactment of the Tax Act has been developed considering the principles of ASC Topic 805, Business Combinations , which addresses the accounting for certain items in a business combination for which the accounting is incomplete upon issuance of the financial statements that include the reporting period in which the business combination occurs. Specifically, the Staff provides that the accounting guidance in ASC Topic 805 may be analogized to the accounting for impacts of the Tax Act. If a company does not have the necessary information available, prepared or analyzed for certain income tax effects of the Tax Act, SAB 118 allows a company to report provisional numbers and adjust those amounts during the measurement period not to extend beyond one year. For the three and nine months ended December 31, 2017, the Company has recorded all known and estimable impacts of the Tax Act that are effective for fiscal year 2018. Future adjustments to the provisional numbers will be recorded as discrete adjustments to income tax expense in the period in which those adjustments become estimable and/or are finalized. Accordingly, our income tax provision as of December 31, 2017 reflects (i) the current year impacts of the Tax Act on the estimated annual effective tax rate and (ii) the following discrete items resulting directly from the enactment of the Tax Act based on the information available, prepared, or analyzed (including computations) in reasonable detail. Three and Nine Months Ended December 31, Transition Tax (provisional) $ 5,126 Net impact on U.S. deferred tax assets and liabilities (provisional) (6,030 ) Net changes in deferred tax liability associated with anticipated repatriation taxes (provisional) 1,704 Net discrete impacts of the enactment of the Tax Act 800 Consistent with provisions allowed under the Tax Act, the $5,126 estimated Transition Tax liability will be paid over an eight year period beginning in fiscal year 2019. The entire amount of the estimated Transition Tax liability has been included in “Other liabilities- long term” in the Condensed Consolidated Balance Sheets. The net benefit of $6,030 related to deferred tax assets and liabilities is primarily associated with a reduction in deferred liabilities for unamortized intangible assets. Since these intangible assets are not tax deductible, the reduction of the liability is non-cash and will not reduce future tax payments. Given the Tax Act’s significant changes and potential opportunities to repatriate cash tax free, we are in the process of evaluating our current permanent reinvestment assertions. Accordingly, we will no longer assert a permanent reinvestment position in most of our foreign subsidiaries. We expect to repatriate certain earnings which will be subject to withholding taxes. These additional withholding taxes are being recorded as an additional deferred tax liability associated with the basis difference in such jurisdictions. The uncertainty related to the taxation of such withholding taxes on distributions under the Tax Act and finalization of the cash repatriation plan makes the deferred tax liability a provisional amount. We continue to review the anticipated impacts of the global intangible low taxed income (“GILTI”) and base erosion anti-abuse tax (“BEAT”), which are not effective until fiscal year 2019. We have not recorded any impact associated with either GILTI or BEAT in the tax rate for our third quarter of fiscal year 2018. Within the calculation of our annual effective tax rate we have used assumptions and estimates that may change as a result of future guidance, interpretation, and rule-making from the Internal Revenue Service, the SEC, and the Financial Accounting Standards Board and/or various other taxing jurisdictions. For example, we anticipate that the state jurisdictions will continue to determine and announce their conformity to the Tax Act which could have an impact on the annual effective tax rate. Our anticipated annual effective income tax rate before discrete events was 25.4% and 24.7% for the nine months ended December 31, 2017 and 2016, respectively. The anticipated annual effective tax rate is established by estimating anticipated tax rates in each of the countries where we earn taxable income as adjusted for known differences as well as our ability to apply any jurisdictional tax losses to prior or future periods. Discrete tax events include the net impact of the enactment of the Tax Act. Additionally, during the three months ended December 31, 2017 and 2016, we reduced our liabilities for uncertain tax positions in the amount of $554 and $176 , respectively as the uncertain tax positions related to these periods are no longer subject to audit.

Segment Information

Segment Information	9 Months Ended
	Dec. 31, 2017
Segment Reporting [Abstract]
Segment Information	Segment Information We operate in four reportable segments based on four geographic countries or regions in which we operate: the United States, Canada, Europe and Asia. Within our four reportable segments, our primary products and services are focused on thermal solutions primarily related to the electrical heat tracing industry. Each of our reportable segments serves a similar class of customers, including engineering, procurement and construction (“EPC”) companies, international and regional oil and gas companies, commercial sub-contractors, electrical component distributors and direct sales to existing plant or industrial applications. Profitability within our segments is measured by operating income. Profitability can vary in each of our reportable segments based on the competitive environment within the region, the level of corporate overhead, such as the salaries of our senior executives, and the level of research and development and marketing activities in the region, as well as the mix of products and services. Since March 2015, we acquired THS, Unitemp, IPI and Sumac. THS (formerly known as CCI) develops and designs advanced industrial heating and filtration solutions that closely align with Thermon's core business and serve similar end markets in North America. As such, we have elected to report THS's operations through our United States and Canada reportable segments. Both Unitemp and IPI offer thermal solutions and have been included in our Europe and United States reportable segments, respectively. Sumac provides temporary power products that differ from our core thermal solutions business. As we anticipate that our full year operating results from Sumac will comprise less than 10% of our total sales and operating income, Sumac has been aggregated in our Canada segment. For purposes of this note, revenue is attributed to individual countries or regions on the basis of the physical location and jurisdiction of organization of the subsidiary that invoices the material and services. Total sales to external customers, inter-segment sales, depreciation expense, amortization expense, income from operations, property, plant and equipment, net and total assets for each of our four reportable segments are as follows: Three Months Ended December 31, 2017 Three Months Ended December 31, 2016 Nine Months Ended December 31, 2017 Nine Months Ended Sales to External Customers: United States $ 32,828 $ 28,945 $ 77,697 $ 88,937 Canada 30,178 9,126 57,714 32,286 Europe 20,309 18,100 48,373 50,417 Asia 9,345 8,169 22,243 24,908 $ 92,660 $ 64,340 $ 206,027 $ 196,548 Inter-Segment Sales: United States $ 13,232 $ 11,355 $ 37,123 $ 35,090 Canada 1,862 1,345 5,221 2,370 Europe 487 267 1,210 1,273 Asia 546 129 1,093 762 $ 16,127 $ 13,096 $ 44,647 $ 39,495 Depreciation Expense: United States $ 1,126 $ 905 $ 3,190 $ 2,656 Canada 897 467 2,137 1,418 Europe 133 74 347 216 Asia 35 39 99 108 $ 2,191 $ 1,485 $ 5,773 $ 4,398 Amortization Expense: United States $ 1,505 $ 1,505 $ 4,515 $ 4,355 Canada 2,632 870 4,373 2,661 Europe 351 322 1,030 990 Asia 266 266 798 798 $ 4,754 $ 2,963 $ 10,716 $ 8,804 Income (loss) from operations: United States $ 340 $ 3,848 $ (1,757 ) $ 4,311 Canada 7,622 1,343 17,619 5,787 Europe 2,008 2,344 4,240 6,908 Asia 1,444 914 2,751 3,797 Unallocated: Stock compensation (895 ) (837 ) (2,627 ) (2,658 ) Public company costs (309 ) (313 ) (1,041 ) (981 ) $ 10,210 $ 7,299 $ 19,185 $ 17,164 December 31, 2017 March 31, 2017 Property, plant and equipment, net: United States $ 36,744 $ 34,563 Canada 32,744 4,674 Europe 3,521 3,532 Asia 741 497 $ 73,750 $ 43,266 Total Assets: United States $ 205,132 $ 186,300 Canada 343,506 136,688 Europe 87,843 80,589 Asia 44,487 50,503 $ 680,968 $ 454,080

Basis of Presentation and Acc20

Basis of Presentation and Accounting Policy Information (Policies)	9 Months Ended
	Dec. 31, 2017
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Use of Estimates	Use of Estimates Generally accepted accounting principles (“GAAP”) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reported period. While our management has based their assumptions and estimates on the facts and circumstances existing at December 31, 2017 , actual results could differ from those estimates and affect the reported amounts of assets and liabilities, disclosures of contingent assets and liabilities and the corresponding revenues and expenses as of the date of the financial statements. The operating results for the three and nine months ended December 31, 2017 are not necessarily indicative of the results that may be achieved for the fiscal year ending March 31, 2018 .
Reclassifications	Reclassifications Certain reclassifications have been made within these consolidated financial statements to conform prior periods to current period classifications.
Recent Accounting Pronouncements	Recent Accounting Pronouncements Revenue Recognition - In May 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update No. 2014-09 "Revenue from Contracts with Customers" (Topic 606), which amends the existing revenue recognition requirements and guidance. The core principle of the new standard is to recognize revenue that reflects the consideration the Company expects to receive for goods or services when or as the promised goods or services are transferred to customers. Topic 606 requires more judgement than current guidance, as management will now be required to: (i) identify each performance obligation in contracts with customers, (ii) estimate any variable consideration included in the transaction price and (iii) allocate the transaction price to each performance obligation. The new revenue standard may be applied retrospectively to each prior period presented or retrospectively with the cumulative effect recognized as of the date of adoption. The Company is currently planning to adopt the amended guidance using the modified retrospective method as of April 1, 2018. To assess the impact of the standard, we utilize internal resources to lead the implementation effort and supplement our internal resources with external consultants. As of the third quarter of fiscal 2018, the Company has completed the evaluation of its revenue streams and has selected a sample of customer contracts that we believe fairly represent contract traits that could be accounted for differently under amended guidance. The Company has begun evaluating the potential impact of the new revenue standard on each of the selected contracts including: (i) estimating the contract consideration under the new standard, (ii) identifying the performance obligations within the customer contracts, (iii) calculating the anticipated allocation of contract consideration to each performance obligation, (iv) determining the timing of revenue recognition for each performance obligation, and (v) determining the classification of the contract revenue for disclosure purposes. The contract reviews are currently in process and we anticipate they will be completed by the end of the 2018 fiscal year. After this work is complete, we believe we will have identified and assessed all material performance obligations impacted by the amended guidance. Stock Compensation - In March 2016, the FASB issued Accounting Standards Update 2016-09 “Compensation-Stock Compensation” (Topic 718), which changes the accounting for certain aspects of share-based payments to employees. The new guidance requires excess tax benefits and tax deficiencies to be recorded in the income statement when the awards vest or are settled. Additionally, cash flows related to excess tax benefits will no longer be separately classified as a financing activity and will be included as an operating activity on the consolidated statements of cash flows. The guidance allows for an accounting policy election to account for forfeitures as they occur. The standard is effective for fiscal years beginning after December 15, 2016, including interim periods within those fiscal years. We adopted this standard effective April 1, 2017 and it did not have a material impact on our consolidated financial statements. Inventory- In July 2015, the FASB issued Accounting Standards Update 2015-11 “Simplifying the Measurement of Inventory” (Topic 330). Under the new guidance, inventory is measured at the lower of cost and net realizable value, and the new guidance eliminates the use of replacement cost and net realizable value less a normal profit margin as techniques to value inventory. Net realizable value is defined as the estimated selling price in the ordinary course of business, less reasonably predictable costs of completion, disposal and transportation. The new guidance will be applied prospectively for annual periods and interim periods within fiscal years beginning after December 15, 2016. We adopted this standard effective April 1, 2017 and it did not have a material impact on our consolidated financial statements. Financial Instruments- In January 2016, the FASB issued Accounting Standards Update 2016-01 “Financial Instruments-Overall” (Subtopic 825-10), which amends the guidance on the classification and measurement of financial instruments. The amendment requires all equity investments to be measured at fair value with changes in the fair value recognized through earnings. The amendment also requires an entity to present separately in other comprehensive income the portion of the total change in the fair value of a liability resulting from a change in the credit risk when an entity has elected the fair value option. The guidance eliminates the requirement to disclose the methods and significant assumptions used to estimate the fair value that is required to be disclosed for financial instruments measured at amortized cost on the balance sheet. The new guidance is effective for fiscal years and interim periods within those fiscal years beginning after December 15, 2017. Early adoption is permitted for certain provisions of the accounting standards update. Upon adoption of the standard, an entity will be required to make a cumulative-effect adjustment to retained earnings as of the beginning of such reporting period. Upon adoption, we do not anticipate this standard will have a material impact on our consolidated financial statements. Leases - In February 2016, the FASB issued Accounting Standards Update 2016-02 “Leases” (Topic 842), which provides guidance on the recognition, measurement, presentation and disclosure on leases. Under the standard, substantially all leases will be reported on the balance sheet as right-of-use assets and lease liabilities. The new guidance is effective for fiscal years and interim periods within those fiscal years beginning after December 15, 2018. Early adoption is permitted. We are currently evaluating the requirements of the standard and have not yet determined its impact on our consolidated financial statements. Financial Instruments- In June 2016, the FASB issued Accounting Standards Update 2016-13 “Financial Instruments-Credit Losses” (Topic 326), which amends the guidance on the impairment of financial instruments. The standard adds an impairment model, referred to as current expected credit loss, which is based on expected losses rather than incurred losses. The standard applies to most debt instruments, trade receivables, lease receivables, reinsurance receivables, financial guarantees and loan commitments. Under the guidance, companies are required to disclose credit quality indicators disaggregated by year of origination for a five-year period. The new guidance is effective for fiscal years and interim periods within those fiscal years beginning after December 15, 2019. We do not anticipate this will have a material impact to our consolidated financial statements. Statement of Cash Flows- In August 2016, the FASB issued Accounting Standards Update 2016-15 “Statement of Cash Flows” (Topic 230), which amends Topic 230 of the accounting standards codification (ASC) to add or clarify guidance on the classification of certain cash receipts and payments in the statement of cash flows. The standard addresses eight types of cash flows, some of which we believe could or will impact our financial statements upon adoption, including debt prepayment or debt extinguishment costs, contingent consideration payments made after a business combination, and proceeds from the settlement of insurance claims. Under the guidance, cash payments for debt prepayment or extinguishment costs must be classified as cash outflows from financing activities. Contingent consideration payments that were not made soon after a business combination must be separated and classified in operating and financing activities. Cash payments up to the amount of the contingent consideration liability recognized as of the acquisition dates, including any measurement-period adjustments, should be classified in financing activities, while any excess cash payments should be classified in operating activities. Cash proceeds from the settlement of insurance claims should be classified on the basis of the nature of the loss. The guidance is effective for fiscal years beginning after December 15, 2017, including interim periods within those years. Early adoption is permitted for all entities. Entities must apply the guidance retrospectively to all periods presented but may be applied prospectively if retrospective application would be impracticable. We do not anticipate this will have a material impact to our consolidated financial statements.

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
	Dec. 31, 2017
Fair Value Disclosures [Abstract]
Schedule of long-term debt that is not measured at fair value	Information about our investments and long-term debt that is not measured at fair value is as follows: December 31, 2017 March 31, 2017 Carrying Value Fair Value Carrying Value Fair Value Valuation Technique Financial Assets Certificates of deposits with maturities greater than 90 days $ 1,031 $ 1,031 $ 44,786 $ 44,786 Level 2 - Market Approach Financial Liabilities Outstanding principal amount of senior secured credit facility $ 250,000 $ 250,000 $ 81,000 $ 81,000 Level 2 - Market Approach
Schedule of notional amounts of forward contracts held in foreign currencies	As of December 31, 2017 and March 31, 2017 , the notional amounts of forward contracts were as follows: Notional amount of foreign currency forward contracts by currency December 31, 2017 March 31, 2017 Russian Ruble $ 3,442 $ 250 Euro 4,000 — South Korean Won 10,700 1,300 Mexican Peso 300 450 Australian Dollar 950 375 Total notional amounts $ 19,392 $ 2,375
Schedule of fair value of foreign currency forward contracts	The following table represents the fair value of our foreign currency forward contracts: December 31, 2017 March 31, 2017 Fair Value Fair Value Assets Liabilities Assets Liabilities Foreign currency forward contracts $ 356 $ 61 $ 62 $ 10
Schedule of unrealized gain (loss) in accumulated other comprehensive loss

Acquisitions (Tables)

Acquisitions (Tables)	9 Months Ended
	Dec. 31, 2017
Business Combinations [Abstract]
Business Acquisition, Pro Forma Information	The following table presents selected unaudited pro forma information for the Company assuming the acquisition of CCI had occurred as of April 1, 2016. This pro forma financial information is presented for informational and illustrative purposes and does not purport to represent what the Company’s actual results would have been if the acquisition had occurred as of the date indicated or what such results would be for any future periods. In addition, the unaudited pro forma results do not include any anticipated synergies or other expected benefits of the acquisition or costs necessary to obtain the anticipated synergies and benefits. The pro forma financial information includes the amortization associated with the acquired intangible assets, interest expense associated with debt used to fund the acquisition, amortization of the inventory step-up, removal of aircraft and rent expense for assets not assumed in the transaction, acquisition related expenses, and the income tax affected for the pro forma results. (Dollars in Thousands, except share and per share data) Pro Forma Financial Information (Unaudited) Three months ended December 31, Nine months ended December 31, 2017 2016 2017 2016 Revenues $ 99,281 $ 83,779 $ 245,878 $ 241,890 Net income available to Thermon Group Holdings, Inc. (loss) 362 4,550 (294 ) (1,716 ) Earnings per share: Basic $ 0.01 $ 0.14 $ (0.01 ) $ (0.05 ) Diluted $ 0.01 $ 0.14 $ (0.01 ) $ (0.05 )
Business Combination, Purchase Price Information	The following table details the purchase price of the THS transaction: Consideration to or on behalf of sellers at close $ 204,235 Fair value of total consideration transferred 204,235
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed	The following table summarizes the preliminary fair value of the assets acquired and liabilities assumed: Assets acquired: Cash $ 1,534 Accounts receivable 14,351 Inventories 20,489 Other current assets 731 Property, plant and equipment 29,464 Identifiable intangible assets 79,002 Goodwill 87,540 Total assets 233,111 Liabilities assumed: Current liabilities 6,255 Other non-current liabilities 500 Non-current deferred tax liability 22,121 Total liabilities 28,876 Total consideration $ 204,235
Schedule of Finite-Lived Intangible Assets Acquired as Part of Business Combination	Our provisional estimate of identifiable intangible assets at December 31, 2017 that were related to the THS transaction, inclusive of currency translation adjustments for the period, consisted of the following: Amortization period Gross Carrying Amount at December 31, 2017 Accumulated Amortization Net Carrying Amount at December 31, 2017 Products 10 Years $ 66,408 $ 1,107 $ 65,301 Customer relationships 17 Years 11,465 112 11,353 Backlog 1 Year 3,320 553 2,767 Total $ 81,193 $ 1,772 $ 79,421

Earnings and Net Income (Loss)

Earnings and Net Income (Loss) per Common Share (Tables)	9 Months Ended
	Dec. 31, 2017
Earnings Per Share [Abstract]
Schedule of reconciliation of the denominators used to calculate basic EPS and diluted EPS	The reconciliations of the denominators used to calculate basic and diluted net income per common share for the three and nine months ended December 31, 2017 and 2016 , respectively, are as follows: Three Months Ended December 31, 2017 Three Months Ended December 31, 2016 Nine Months Ended December 31, 2017 Nine Months Ended December 31, 2016 Basic net income per common share Net income available to Thermon Group Holdings, Inc. $ 599 $ 5,358 $ 5,856 $ 11,390 Weighted-average common shares outstanding 32,447,838 32,330,392 32,408,608 32,280,539 Basic net income per common share $ 0.02 $ 0.17 $ 0.18 $ 0.35 Three Months Ended December 31, 2017 Three Months Ended December 31, 2016 Nine Months Ended December 31, 2017 Nine Months Ended December 31, 2016 Diluted net income per common share Net income available to Thermon Group Holdings, Inc. $ 599 $ 5,358 $ 5,856 $ 11,390 Weighted-average common shares outstanding 32,447,838 32,330,392 32,408,608 32,280,539 Common share equivalents: Stock options 233,618 222,152 222,857 224,291 Restricted and performance stock units 232,916 99,386 131,077 114,455 Weighted average shares outstanding – dilutive (1) 32,914,372 32,651,930 32,762,542 32,619,285 Diluted net income per common share $ 0.02 $ 0.16 $ 0.18 $ 0.35 (1) For the three and nine months ended December 31, 2017 , 28,499 and 70,164 equity awards, respectively, were not included in the calculation of diluted net income per common share, as they would have had an anti-dilutive effect. For the three and nine months ended December 31, 2016 , 45,140 and 44,368 equity awards, respectively, were not included in the calculation of diluted net income per common share, as they would have had an anti-dilutive effect.

Inventories (Tables)

Inventories (Tables)	9 Months Ended
	Dec. 31, 2017
Inventory Disclosure [Abstract]
Schedule of Inventory, Current	Inventories consisted of the following: December 31, March 31, Raw materials $ 33,279 $ 12,270 Work in process 6,078 1,769 Finished goods 27,330 21,310 66,687 35,349 Valuation reserves (1,619 ) (1,329 ) Inventories, net $ 65,068 $ 34,020

Goodwill (Tables)

Goodwill (Tables)	9 Months Ended
	Dec. 31, 2017
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of carrying amount of goodwill	The carrying amount of goodwill by operating segment as of December 31, 2017 is as follows: United States Canada Europe Asia Total Balance as of March 31, 2017 $ 52,016 $ 43,444 $ 18,437 $ 8,624 $ 122,521 Goodwill acquired — 87,540 — — 87,540 Foreign currency translation impact — 4,003 2,134 — 6,137 Balance as of December 31, 2017 $ 52,016 $ 134,987 $ 20,571 $ 8,624 $ 216,198
Schedule of intangible assets	Our total intangible assets consisted of the following: Gross Carrying Amount at December 31, 2017 Accumulated Amortization Net Carrying Amount at December 31, 2017 Gross Carrying Amount at March 31, 2017 Accumulated Amortization Net Carrying Amount at March 31, 2017 Products $ 66,408 $ 1,107 $ 65,301 $ — $ — $ — Trademarks $ 46,248 $ 742 $ 45,506 $ 44,563 $ 521 $ 44,042 Developed technology 10,181 3,989 6,192 9,796 3,454 6,342 Customer relationships 114,148 75,094 39,054 99,676 64,682 34,994 Certifications 459 — 459 442 — 442 Other 5,958 3,034 2,924 2,626 2,268 358 Total $ 243,402 $ 83,966 $ 159,436 $ 157,103 $ 70,925 $ 86,178

Accrued Liabilities (Tables)

Accrued Liabilities (Tables)	9 Months Ended
	Dec. 31, 2017
Payables and Accruals [Abstract]
Schedule of accrued current liabilities	Accrued current liabilities consisted of the following: December 31, March 31, Accrued employee compensation and related expenses $ 12,269 $ 8,364 Accrued interest 1,517 — Customer prepayment 706 168 Warranty reserve 346 300 Professional fees 2,456 1,631 Sales tax payable 1,352 1,573 Other 1,012 1,106 Total accrued current liabilities $ 19,658 $ 13,142

Long-Term Debt (Tables)

Long-Term Debt (Tables)	9 Months Ended
	Dec. 31, 2017
Debt Disclosure [Abstract]
Schedule of long-term debt	Long-term debt consisted of the following: December 31, March 31, Variable Rate Term Loan, due October 2024, net of deferred debt issuance costs and debt discounts of $9,089 as of December 31, 2017 $ 240,911 $ — Variable Rate Term Loan, due April 2019, net of deferred debt issuance costs of $524 as of March 31, 2017 — 80,476 Less current portion (1,875 ) (20,250 ) Total long-term debt $ 239,036 $ 60,226

Income Taxes (Tables)

Income Taxes (Tables)	9 Months Ended
	Dec. 31, 2017
Income Tax Disclosure [Abstract]
Summary of Discrete Impacts From The 2017 Tax Act	Accordingly, our income tax provision as of December 31, 2017 reflects (i) the current year impacts of the Tax Act on the estimated annual effective tax rate and (ii) the following discrete items resulting directly from the enactment of the Tax Act based on the information available, prepared, or analyzed (including computations) in reasonable detail. Three and Nine Months Ended December 31, Transition Tax (provisional) $ 5,126 Net impact on U.S. deferred tax assets and liabilities (provisional) (6,030 ) Net changes in deferred tax liability associated with anticipated repatriation taxes (provisional) 1,704 Net discrete impacts of the enactment of the Tax Act 800

Segment Information (Tables)

Segment Information (Tables)	9 Months Ended
	Dec. 31, 2017
Segment Reporting [Abstract]
Total sales and operating income classified by major geographic area in which the company operates	Total sales to external customers, inter-segment sales, depreciation expense, amortization expense, income from operations, property, plant and equipment, net and total assets for each of our four reportable segments are as follows: Three Months Ended December 31, 2017 Three Months Ended December 31, 2016 Nine Months Ended December 31, 2017 Nine Months Ended Sales to External Customers: United States $ 32,828 $ 28,945 $ 77,697 $ 88,937 Canada 30,178 9,126 57,714 32,286 Europe 20,309 18,100 48,373 50,417 Asia 9,345 8,169 22,243 24,908 $ 92,660 $ 64,340 $ 206,027 $ 196,548 Inter-Segment Sales: United States $ 13,232 $ 11,355 $ 37,123 $ 35,090 Canada 1,862 1,345 5,221 2,370 Europe 487 267 1,210 1,273 Asia 546 129 1,093 762 $ 16,127 $ 13,096 $ 44,647 $ 39,495 Depreciation Expense: United States $ 1,126 $ 905 $ 3,190 $ 2,656 Canada 897 467 2,137 1,418 Europe 133 74 347 216 Asia 35 39 99 108 $ 2,191 $ 1,485 $ 5,773 $ 4,398 Amortization Expense: United States $ 1,505 $ 1,505 $ 4,515 $ 4,355 Canada 2,632 870 4,373 2,661 Europe 351 322 1,030 990 Asia 266 266 798 798 $ 4,754 $ 2,963 $ 10,716 $ 8,804 Income (loss) from operations: United States $ 340 $ 3,848 $ (1,757 ) $ 4,311 Canada 7,622 1,343 17,619 5,787 Europe 2,008 2,344 4,240 6,908 Asia 1,444 914 2,751 3,797 Unallocated: Stock compensation (895 ) (837 ) (2,627 ) (2,658 ) Public company costs (309 ) (313 ) (1,041 ) (981 ) $ 10,210 $ 7,299 $ 19,185 $ 17,164 December 31, 2017 March 31, 2017 Property, plant and equipment, net: United States $ 36,744 $ 34,563 Canada 32,744 4,674 Europe 3,521 3,532 Asia 741 497 $ 73,750 $ 43,266 Total Assets: United States $ 205,132 $ 186,300 Canada 343,506 136,688 Europe 87,843 80,589 Asia 44,487 50,503 $ 680,968 $ 454,080

Basis of Presentation and Acc30

Basis of Presentation and Accounting Policy Information (Details) $ in Thousands	Mar. 31, 2017USD ($)
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Increase in income taxes receivable	$ 2,000
Restatement Adjustment
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Decrease in prepaid expense	$ 2,000

Fair Value Measurements (Detail

Fair Value Measurements (Details) - Level 2 - Market Approach - USD ($) $ in Thousands	Dec. 31, 2017	Mar. 31, 2017
Financial Assets
Certificates of deposits with maturities greater than 90 days, Carrying Value	$ 1,031	$ 44,786
Certificates of deposits with maturities greater than 90 days, Fair Value	1,031	44,786
Loans Payable
Financial Liabilities, Long-term debt
Long-term debt, Carrying Value	250,000	81,000
Long-term debt, Fair Value	$ 250,000	$ 81,000

Fair Value Measurements - Forei

Fair Value Measurements - Foreign Exchange Contracts by Currency (Details) - USD ($) $ in Thousands	Oct. 03, 2017	Dec. 31, 2017	Mar. 31, 2017
Derivative [Line Items]
Foreign currency unrealized loss	$ 3,326
Foreign Exchange Contract
Derivative [Line Items]
Notional amount	200,000
Foreign currency exchange minimum	162,061
Foreign currency exchange maximum	159,198
Spot rate value	$ 155,872
Foreign Exchange Forward Contracts
Derivative [Line Items]
Notional amount		$ 19,392	$ 2,375
Russian Ruble | Foreign Exchange Forward Contracts
Derivative [Line Items]
Notional amount		3,442	250
Euro | Foreign Exchange Forward Contracts
Derivative [Line Items]
Notional amount		4,000	0
South Korean Won | Foreign Exchange Forward Contracts
Derivative [Line Items]
Notional amount		10,700	1,300
Mexican Peso | Foreign Exchange Forward Contracts
Derivative [Line Items]
Notional amount		300	450
Australian Dollar | Foreign Exchange Forward Contracts
Derivative [Line Items]
Notional amount		$ 950	$ 375

Fair Value Measurements - For33

Fair Value Measurements - Foreign Exchange Contracts (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2017	Dec. 31, 2016	Mar. 31, 2017
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Maximum term of forward contracts			30 days
Net Gain (Loss) on Foreign Currency Derivative Instruments Not Designated as Hedging Instruments	$ (5,527)	$ (34)	$ 5,641	$ 432
Foreign Exchange Forward Contracts
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Foreign exchange contract forwards, assets	356		356		$ 62
Foreign exchange contract forwards, liabilities	61		61		$ 10
Gain (Loss) on Foreign Currency Derivatives Recorded in Earnings, Net	$ (186)	$ (476)	$ 54	$ 622

Fair Value Measurements Fair Va

Fair Value Measurements Fair Value Measurements - Cross Currency Swaps (Details)	3 Months Ended	9 Months Ended
	Dec. 31, 2017USD ($)	Dec. 31, 2017USD ($)
Fair Value Disclosures [Abstract]
Intercompany receivable	$ 112,750,000	$ 112,750,000
Derivative [Line Items]
Unrealized gain on intercompany note	$ 2,609,000	2,000
Cross Currency Swap
Derivative [Line Items]
Loss on long-term derivative contract		$ (4,877)

Acquisitions - Narrative (Detai

Acquisitions - Narrative (Details) CAD in Thousands, $ in Thousands	Oct. 30, 2017CAD	Oct. 30, 2017USD ($)	Dec. 31, 2017USD ($)	Dec. 31, 2016USD ($)	Dec. 31, 2017USD ($)	Dec. 31, 2016USD ($)	Mar. 31, 2017USD ($)
Business Acquisition [Line Items]
Weighted average useful life			10 years 7 months 6 days
Goodwill			$ 216,198		$ 216,198		$ 122,521
Revenues			92,660	$ 64,340	206,027	$ 196,548
Thermon Heating Systems Inc.
Business Acquisition [Line Items]
Equity interests acquired	100.00%	100.00%
Payments to acquire business	CAD 261,950	$ 204,235
Transaction costs			3,839		3,839
Revenues			16,057		2,851
Operating Segments
Business Acquisition [Line Items]
Goodwill acquired					87,540
Goodwill			216,198		216,198		122,521
Revenues			92,660	$ 64,340	206,027	$ 196,548
Operating Segments | Canada
Business Acquisition [Line Items]
Goodwill			$ 134,987		134,987		$ 43,444
Operating Segments | Canada | Thermon Heating Systems Inc.
Business Acquisition [Line Items]
Goodwill acquired					$ 87,540

Acquisitions - Pro Forma Inform

Acquisitions - Pro Forma Information (Details) - Thermon Heating Systems Inc. - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2017	Dec. 31, 2016
Business Acquisition [Line Items]
Revenues	$ 99,281	$ 83,779	$ 245,878	$ 241,890
Net income available to Thermon Group Holdings, Inc. (loss)	$ 362	$ 4,550	$ (294)	$ (1,716)
Basic (in dollars per share)	$ 0.01	$ 0.14	$ (0.01)	$ (0.05)
Diluted (in dollars per share)	$ 0.01	$ 0.14	$ (0.01)	$ (0.05)

Acquisitions - Purchase Price (

Acquisitions - Purchase Price (Details) - Oct. 30, 2017 - Thermon Heating Systems Inc. CAD in Thousands, $ in Thousands	CAD	USD ($)
Business Acquisition [Line Items]
Consideration to or on behalf of sellers at close	CAD 261,950	$ 204,235
Fair value of total consideration transferred		$ 204,235

Acquisitions - Assets Acquired

Acquisitions - Assets Acquired and Liabilities Assumed (Details) - USD ($) $ in Thousands	Dec. 31, 2017	Oct. 30, 2017	Mar. 31, 2017
Business Acquisition [Line Items]
Goodwill	$ 216,198		$ 122,521
Thermon Heating Systems Inc.
Business Acquisition [Line Items]
Cash		$ 1,534
Accounts receivable		14,351
Inventories		20,489
Other current assets		731
Property, plant and equipment		29,464
Identifiable intangible assets		79,002
Total assets		233,111
Current liabilities		6,255
Other non-current liabilities		500
Noncurrent deferred tax liability		22,121
Total liabilities		28,876
Total consideration		$ 204,235

Acquisitions - Finite-Lived Int

Acquisitions - Finite-Lived Intangible Assets Acquired (Details) - Thermon Heating Systems Inc. - USD ($) $ in Thousands	Oct. 30, 2017	Dec. 31, 2017
Business Acquisition [Line Items]
Gross Carrying Amount		$ 81,193
Accumulated Amortization		1,772
Net Carrying Amount		79,421
Products
Business Acquisition [Line Items]
Amortization period	10 years
Gross Carrying Amount		66,408
Accumulated Amortization		1,107
Net Carrying Amount		65,301
Customer relationships
Business Acquisition [Line Items]
Amortization period	17 years
Gross Carrying Amount		11,465
Accumulated Amortization		112
Net Carrying Amount		11,353
Backlog
Business Acquisition [Line Items]
Amortization period	1 year
Gross Carrying Amount		3,320
Accumulated Amortization		553
Net Carrying Amount		$ 2,767

Earnings and Net Income (Loss40

Earnings and Net Income (Loss) per Common Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2017	Dec. 31, 2016
Basic net income (loss) per common share
Net income	$ 599	$ 5,358	$ 5,856	$ 11,390
Weighted-average common shares outstanding (in shares)	32,447,838	32,330,392	32,408,608	32,280,539
Basic net income (loss) per common share (in dollars per share)	$ 0.02	$ 0.17	$ 0.18	$ 0.35
Diluted net income (loss) per common share
Net income	$ 599	$ 5,358	$ 5,856	$ 11,390
Weighted-average common shares outstanding (in shares)	32,447,838	32,330,392	32,408,608	32,280,539
Diluted (in shares)	32,914,372	32,651,930	32,762,542	32,619,285
Diluted net income (loss) per common share (in dollars per share)	$ 0.02	$ 0.16	$ 0.18	$ 0.35
Equity Option
Diluted net income (loss) per common share
Weighted average number of diluted shares outstanding adjustment (in shares)	233,618	222,152	222,857	224,291
Restricted Stock Units
Diluted net income (loss) per common share
Weighted average number of diluted shares outstanding adjustment (in shares)	232,916	99,386	131,077	114,455
Stock Compensation Plan
Diluted net income (loss) per common share
Antidilutive securities excluded from computation of earnings per share (in shares)	28,499	45,140	70,164	44,368

Inventories (Details)

Inventories (Details) - USD ($) $ in Thousands	Dec. 31, 2017	Mar. 31, 2017
Inventory Disclosure [Abstract]
Raw materials	$ 33,279	$ 12,270
Work in process	6,078	1,769
Finished goods	27,330	21,310
Inventories, gross	66,687	35,349
Valuation reserves	(1,619)	(1,329)
Inventories, net	$ 65,068	$ 34,020

Goodwill (Details)

Goodwill (Details) $ in Thousands	9 Months Ended
	Dec. 31, 2017USD ($)
Goodwill
Balance at the beginning of the period	$ 122,521
Balance at the end of the period	216,198
Operating Segments
Goodwill
Balance at the beginning of the period	122,521
Goodwill acquired	87,540
Foreign currency translation impact	6,137
Balance at the end of the period	216,198
Operating Segments | United States
Goodwill
Balance at the beginning of the period	52,016
Goodwill acquired	0
Foreign currency translation impact	0
Balance at the end of the period	52,016
Operating Segments | Canada
Goodwill
Balance at the beginning of the period	43,444
Foreign currency translation impact	4,003
Balance at the end of the period	134,987
Operating Segments | Europe
Goodwill
Balance at the beginning of the period	18,437
Goodwill acquired	0
Foreign currency translation impact	2,134
Balance at the end of the period	20,571
Operating Segments | Asia
Goodwill
Balance at the beginning of the period	8,624
Goodwill acquired	0
Foreign currency translation impact	0
Balance at the end of the period	$ 8,624

Goodwill and Other Intangible A

Goodwill and Other Intangible Assets - Summary of Intangible Assets (Details) - USD ($) $ in Thousands	Dec. 31, 2017	Mar. 31, 2017
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets, accumulated amortization	$ 83,966	$ 70,925
Intangible assets, gross	243,402	157,103
Intangible assets, net	159,436	86,178
Certifications
Finite-Lived Intangible Assets [Line Items]
Indefinite-lived intangible assets (excluding goodwill)	459	442
Products
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets, gross carrying amount	66,408	0
Finite-lived intangible assets, accumulated amortization	1,107	0
Finite-lived intangible assets, net carrying amount	65,301	0
Trademarks
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets, gross carrying amount	46,248	44,563
Finite-lived intangible assets, accumulated amortization	742	521
Finite-lived intangible assets, net carrying amount	45,506	44,042
Developed technology
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets, gross carrying amount	10,181	9,796
Finite-lived intangible assets, accumulated amortization	3,989	3,454
Finite-lived intangible assets, net carrying amount	6,192	6,342
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets, gross carrying amount	114,148	99,676
Finite-lived intangible assets, accumulated amortization	75,094	64,682
Finite-lived intangible assets, net carrying amount	39,054	34,994
Other
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets, gross carrying amount	5,958	2,626
Finite-lived intangible assets, accumulated amortization	3,034	2,268
Finite-lived intangible assets, net carrying amount	$ 2,924	$ 358

Accrued Liabilities (Details)

Accrued Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2017	Mar. 31, 2017
Payables and Accruals [Abstract]
Accrued employee compensation and related expenses	$ 12,269	$ 8,364
Employee-related Liabilities, Acquisition Related Expense, Current	1,517	0
Customer prepayment	706	168
Warranty reserve	346	300
Professional fees	2,456	1,631
Sales tax payable	1,352	1,573
Other	1,012	1,106
Total accrued current liabilities	$ 19,658	$ 13,142

Short-Term Revolving Lines of C

Short-Term Revolving Lines of Credit (Details)	3 Months Ended	9 Months Ended
	Dec. 31, 2017USD ($)	Dec. 31, 2017USD ($)	Dec. 31, 2017EUR (€)	Dec. 31, 2017AUD	Dec. 31, 2017USD ($)	Dec. 31, 2017INR (₨)	Mar. 31, 2017USD ($)
Netherlands
Short-Term Revolving Lines of Credit
Outstanding borrowings					$ 0		$ 0
India
Short-Term Revolving Lines of Credit
Outstanding borrowings					0		0
Australia
Short-Term Revolving Lines of Credit
Outstanding borrowings					0		0
Revolving credit facility
Short-Term Revolving Lines of Credit
Outstanding borrowings					0		$ 0
Amount outstanding during period	$ 6,000,000	$ 10,000,000
Revolving credit facility | Netherlands
Short-Term Revolving Lines of Credit
Maximum borrowing capacity					4,791,000
Revolving credit facility | India
Short-Term Revolving Lines of Credit
Maximum borrowing capacity					1,251,000
Revolving credit facility | Australia
Short-Term Revolving Lines of Credit
Maximum borrowing capacity					$ 180,000
Euro Member Countries, Euro | Revolving credit facility | Netherlands
Short-Term Revolving Lines of Credit
Maximum borrowing capacity | €			€ 4,000,000
India, Rupees | Revolving credit facility | India
Short-Term Revolving Lines of Credit
Maximum borrowing capacity | ₨						₨ 80,000,000
Australian Dollar | Revolving credit facility | Australia
Short-Term Revolving Lines of Credit
Maximum borrowing capacity | AUD				AUD 230,000

Long-Term Debt (Details)

Long-Term Debt (Details)	Dec. 31, 2020	Oct. 30, 2017USD ($)	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2018	Dec. 31, 2017USD ($)	Dec. 31, 2016USD ($)	Mar. 31, 2019	Apr. 01, 2018	Mar. 31, 2017USD ($)
Debt Instrument [Line Items]
Less current portion						$ (1,875,000)				$ (20,250,000)
Long-term debt, net of current maturities and deferred debt issuance costs and debt discounts of $9,089 and $524 as of December 31, 2017 and March 31, 2017, respectively						239,036,000				60,226,000
Debt issuance costs, net						9,089,000				524,000
Repayments of long-term debt						91,000,000	$ 10,125,000
Maximum leverage ratio to secure additional borrowing		4
Loans Payable
Debt Instrument [Line Items]
Debt Instrument, face amount										5,905,000
Revolving credit facility
Debt Instrument [Line Items]
Outstanding borrowings						$ 0
Interest rate at period end (as a percent)						5.13%
Capacity available under credit facility						$ 55,085,000
Through March 31, 2019 | Loans Payable
Debt Instrument [Line Items]
Repayments of notes payable						625,000
Due in April 2019 | Loans Payable
Debt Instrument [Line Items]
Repayments of notes payable						233,750,000
Revolving credit facility
Debt Instrument [Line Items]
Outstanding borrowings						0				0
Revolving credit facility | Line of Credit
Debt Instrument [Line Items]
Debt Instrument, face amount		$ 60,000,000
Repayments of lines of credit		$ 6,000,000
Line of credit facility, commitment fee percentage		0.50%
Debt covenant, coverage ratio		1.25
Revolving credit facility | Base Rate | Line of Credit
Debt Instrument [Line Items]
Basis spread on variable rate		2.25%
Revolving credit facility | London Interbank Offered Rate (LIBOR) | Line of Credit
Debt Instrument [Line Items]
Basis spread on variable rate		3.25%
Revolving credit facility | Canadian Base Rate [Member] | Line of Credit
Debt Instrument [Line Items]
Basis spread on variable rate		2.25%
Revolving credit facility | CDOR | Line of Credit
Debt Instrument [Line Items]
Basis spread on variable rate		3.25%
Variable Rate Term Loan due October 2024 | Loans Payable
Debt Instrument [Line Items]
Variable Rate Term Loans						240,911,000				0
Debt issuance costs, net						9,089,000
Variable Rate Term Loan due April 2019 | Loans Payable
Debt Instrument [Line Items]
Variable Rate Term Loans						0				$ 80,476,000
Debt issuance costs, net						$ 524,000
Variable Rate Senior Secured Term Loan B | Secured Debt
Debt Instrument [Line Items]
Debt Instrument, face amount		$ 250,000,000
Variable interest rate floor		1.00%
Prepayment premium		1.00%
Additional borrowing capacity		$ 30,000,000
Variable Rate Senior Secured Term Loan B | Secured Debt | Subsidiary Stock
Debt Instrument [Line Items]
Guarantor obligations, percentage		100.00%
Variable Rate Senior Secured Term Loan B | Secured Debt | Stock of First Tier Material Foreign Subsidiaries, US Borrower, and US Subsidiary
Debt Instrument [Line Items]
Guarantor obligations, percentage		65.00%
Variable Rate Senior Secured Term Loan B | Base Rate | Secured Debt
Debt Instrument [Line Items]
Basis spread on variable rate		2.75%
Variable Rate Senior Secured Term Loan B | London Interbank Offered Rate (LIBOR) | Secured Debt
Debt Instrument [Line Items]
Basis spread on variable rate		3.75%
Term Loan A due April 2019
Debt Instrument [Line Items]
Repayments of long-term debt		$ 70,875,000
Thermon Heating Systems Inc.
Debt Instrument [Line Items]
Debt proceeds used as consideration for business acquisition		$ 164,900,000
Scenario, Forecast | Revolving credit facility | Line of Credit
Debt Instrument [Line Items]
Maximum leverage ratio	3.75		4.50	5	5.50
Scenario, Forecast | Variable Rate Senior Secured Term Loan B | Secured Debt
Debt Instrument [Line Items]
Quarterly amortization of debt, percent									0.25%
Repayment requirement, percentage of excess cash flow								50.00%
Reduced repayment requirement, percentage of excess cash flow								25.00%
Maximum leverage ratio requirement for reduced repayment								4
Minimum leverage ratio requirement for reduced repayment								3.50
Minimum repayment requirement, percentage of excess cash flow								0.00%
Maximum leverage ratio requirement for minimum repayment								3.50

Related-Party Transactions (Det

Related-Party Transactions (Details) - USD ($)	12 Months Ended
	Mar. 31, 2017	Apr. 01, 2015
SUMAC Former Principal
Related Party Transaction [Line Items]
Noncontrolling Interest, ownership by noncontrolling owners (percent)		25.00%
Non-interest Bearing Performance Based Note
Related Party Transaction [Line Items]
Debt Instrument, face amount	$ 5,905,000
Payments to Related Party | SUMAC Former Principal
Related Party Transaction [Line Items]
Related party transaction, amounts of transaction	$ 5,805,000

Commitments and Contingencies (

Commitments and Contingencies (Details) - USD ($) $ in Thousands	Dec. 31, 2017	Mar. 31, 2017
Commitments and Contingencies Disclosure [Abstract]
Totaled arrangements under letter of credit guarantees and performance bonds securing performance obligations	$ 18,178
Guarantee obligations secured by cash deposits	1,738
Guarantee obligations represented by a reduction of the available amount of the company's short term and long term revolving lines of credit	4,915
Cash deposits pledged as collateral on performance bonds and letters of credit	1,738	$ 1,450
Indian custom bonds outstanding	$ 5,678

Stock-Based Compensation Expe49

Stock-Based Compensation Expense (Details) $ in Thousands	3 Months Ended		9 Months Ended		49 Months Ended
	Dec. 31, 2017USD ($)shares	Dec. 31, 2016USD ($)	Dec. 31, 2017USD ($)shares	Dec. 31, 2016USD ($)	Jun. 30, 2014plan	Apr. 08, 2011shares	Jul. 28, 2010shares
Stock-Based Compensation Expense
Number of stock option award plans | plan					2
Options outstanding (in shares)	391,598		391,598
Stock compensation expense | $	$ 895	$ 837	$ 2,627	$ 2,658
Restricted Stock and Stock Option Plan
Stock-Based Compensation Expense
Maximum number of shares of the company's common stock that may be awarded							2,767,171
2011 Long-term Incentive Plan
Stock-Based Compensation Expense
Maximum number of shares of the company's common stock that may be awarded						2,893,341
Restricted Stock Units
Stock-Based Compensation Expense
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period			106,891
Stock Issued During Period, Value, Restricted Stock Award, Gross | $			$ 1,985
Share-based Compensation Arrangement by Share-based Payment Award, Award Requisite Service Period			3 years
Common Stock
Stock-Based Compensation Expense
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period	5,782		15,834
Stock Issued During Period, Value, Restricted Stock Award, Gross | $	$ 105		$ 306
Share-based compensation arrangement by share-based payment award, fair value of shares authorized amount | $	$ 420		$ 420
Performance Shares
Stock-Based Compensation Expense
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period			15,438
Stock Issued During Period, Value, Restricted Stock Award, Gross | $			$ 340
Minimum
Stock-Based Compensation Expense
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Possible Number of Performance Shares to be Granted			0
Maximum
Stock-Based Compensation Expense
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Possible Number of Performance Shares to be Granted			30,876
Management | Performance Shares
Stock-Based Compensation Expense
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period			58,246
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period			3 years
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Fair Value | $			$ 1,080
Management | Minimum
Stock-Based Compensation Expense
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Possible Number of Performance Shares to be Granted			0
Management | Maximum
Stock-Based Compensation Expense
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Possible Number of Performance Shares to be Granted			116,492

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2017	Mar. 31, 2017
Income Tax Disclosure [Abstract]
Net impact on U.S. deferred tax assets and liabilities (provisional)	$ 6,030		$ 6,030
Effective tax rate before discrete events	25.40%	24.70%
Unrecognized Tax Benefits, Period Increase (Decrease)			$ 554	$ 176

Income Taxes - Discrete Items (

Income Taxes - Discrete Items (Details) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Dec. 31, 2017	Dec. 31, 2017
Income Tax Disclosure [Abstract]
Transition Tax (provisional)	$ 5,126	$ 5,126
Net impact on U.S. deferred tax assets and liabilities (provisional)	(6,030)	(6,030)
Net changes in deferred tax liability associated with anticipated repatriation taxes (provisional)	1,704	1,704
Net discrete impacts of the enactment of the Tax Act	$ 800	$ 800

Segment Information (Details)

Segment Information (Details) $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 31, 2017USD ($)	Dec. 31, 2016USD ($)	Dec. 31, 2017USD ($)segmentGeographic_Region	Dec. 31, 2016USD ($)	Mar. 31, 2017USD ($)
Sales by geographic area:
Number of Reportable Segments | segment			4
Number of Operating Segments | Geographic_Region			4
Revenues	$ 92,660	$ 64,340	$ 206,027	$ 196,548
Depreciation	2,191	1,485	5,773	4,398
Amortization of intangible assets	4,754	2,963	10,716	8,804
Operating income
Operating income (loss)	10,210	7,299	19,185	17,164
Stock compensation expense	895	837	2,627	2,658
Property, plant and equipment, net	73,750		73,750		$ 43,266
Assets	680,968		680,968		454,080
Operating Segments
Sales by geographic area:
Revenues	92,660	64,340	206,027	196,548
Intersegment Eliminations
Sales by geographic area:
Revenues	16,127	13,096	44,647	39,495
Segment Reconciling Items
Operating income
Stock compensation expense	(895)	(837)	(2,627)	(2,658)
Public company costs	(309)	(313)	(1,041)	(981)
United States
Sales by geographic area:
Depreciation	1,126	905	3,190	2,656
Amortization of intangible assets	1,505	1,505	4,515	4,355
Operating income
Operating income (loss)	340	3,848	(1,757)	4,311
Property, plant and equipment, net	36,744		36,744		34,563
Assets	205,132		205,132		186,300
United States | Operating Segments
Sales by geographic area:
Revenues	32,828	28,945	77,697	88,937
United States | Intersegment Eliminations
Sales by geographic area:
Revenues	13,232	11,355	37,123	35,090
Canada
Sales by geographic area:
Depreciation	897	467	2,137	1,418
Amortization of intangible assets	2,632	870	4,373	2,661
Operating income
Operating income (loss)	7,622	1,343	17,619	5,787
Property, plant and equipment, net	32,744		32,744		4,674
Assets	343,506		343,506		136,688
Canada | Operating Segments
Sales by geographic area:
Revenues	30,178	9,126	57,714	32,286
Canada | Intersegment Eliminations
Sales by geographic area:
Revenues	1,862	1,345	5,221	2,370
Europe
Sales by geographic area:
Depreciation	133	74	347	216
Amortization of intangible assets	351	322	1,030	990
Operating income
Operating income (loss)	2,008	2,344	4,240	6,908
Property, plant and equipment, net	3,521		3,521		3,532
Assets	87,843		87,843		80,589
Europe | Operating Segments
Sales by geographic area:
Revenues	20,309	18,100	48,373	50,417
Europe | Intersegment Eliminations
Sales by geographic area:
Revenues	487	267	1,210	1,273
Asia
Sales by geographic area:
Depreciation	35	39	99	108
Amortization of intangible assets	266	266	798	798
Operating income
Operating income (loss)	1,444	914	2,751	3,797
Property, plant and equipment, net	741		741		497
Assets	44,487		44,487		$ 50,503
Asia | Operating Segments
Sales by geographic area:
Revenues	9,345	8,169	22,243	24,908
Asia | Intersegment Eliminations
Sales by geographic area:
Revenues	$ 546	$ 129	$ 1,093	$ 762
Sumac Fabrication Company Limited
Sales by geographic area:
Expected sales and operating income as a percentage of total sales and operating income, less than	10.00%		10.00%