Modine Manufacturing (MOD) 10-K 26 May 16 2016 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($)	12 Months Ended
	Mar. 31, 2016	May. 23, 2016	Sep. 30, 2015
Document and Entity Information [Abstract]
Entity Registrant Name	MODINE MANUFACTURING CO
Entity Central Index Key	67,347
Current Fiscal Year End Date	--03-31
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Filer Category	Accelerated Filer
Entity Public Float			$ 365,000,000
Entity Common Stock, Shares Outstanding		47,426,529
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	FY
Document Type	10-K
Amendment Flag	false
Document Period End Date	Mar. 31, 2016

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Millions, $ in Millions	12 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Mar. 31, 2014
CONSOLIDATED STATEMENTS OF OPERATIONS [Abstract]
Net sales	$ 1,352.5	$ 1,496.4	$ 1,477.6
Cost of sales	1,129	1,249.9	1,239.4
Gross profit	223.5	246.5	238.2
Selling, general and administrative expenses	204.5	184.5	181.7
Restructuring expenses	16.6	4.7	16.1
Impairment charges	9.9	7.8	3.2
Gain on sale of wind tunnel	0	(3.2)	0
Operating (loss) income	(7.5)	52.7	37.2
Interest expense	(11.1)	(11.7)	(12.4)
Other income (expense) - net	8.7	0.2	(0.8)
(Loss) earnings from continuing operations before income taxes	(9.9)	41.2	24
Benefit (provision) for income taxes	8.9	(19)	107.9
(Loss) earnings from continuing operations	(1)	22.2	131.9
Earnings from discontinued operations, net of income taxes	0	0.6	0
Net (loss) earnings	(1)	22.8	131.9
Net earnings attributable to noncontrolling interest	(0.6)	(1)	(1.5)
Net (loss) earnings attributable to Modine	$ (1.6)	$ 21.8	$ 130.4
(Loss) earnings per share from continuing operations attributable to Modine shareholders:
Basic (in dollars per share)	$ (0.03)	$ 0.45	$ 2.75
Diluted (in dollars per share)	(0.03)	0.44	2.72
Net (loss) earnings per share attributable to Modine shareholders:
Basic (in dollars per share)	(0.03)	0.46	2.75
Diluted (in dollars per share)	$ (0.03)	$ 0.45	$ 2.72
Weighted average shares outstanding:
Basic (in shares)	47.3	47.2	46.9
Diluted (in shares)	47.3	47.8	47.6

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Millions	12 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Mar. 31, 2014
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME [Abstract]
Net (loss) earnings	$ (1)	$ 22.8	$ 131.9
Other comprehensive income (loss):
Foreign currency translation	4.6	(68.2)	9.7
Defined benefit plans, net of income taxes of $11.8, ($13.2) and $9.8 million	19.7	(26.7)	13.9
Cash flow hedges, net of income taxes of $0, $0 and $0.6 million	0	0	1.1
Total other comprehensive income (loss)	24.3	(94.9)	24.7
Comprehensive income (loss)	23.3	(72.1)	156.6
Comprehensive income attributable to noncontrolling interest	(0.5)	(0.8)	(1.7)
Comprehensive income (loss) attributable to Modine	$ 22.8	$ (72.9)	$ 154.9

CONSOLIDATED STATEMENTS OF COM4

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Parenthetical) - USD ($) $ in Millions	12 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Mar. 31, 2014
Other comprehensive income (loss):
Defined benefit plans, tax	$ 11.8	$ (13.2)	$ 9.8
Cash flow hedges, tax	$ 0	$ 0	$ 0.6

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Mar. 31, 2016	Mar. 31, 2015
ASSETS
Cash and cash equivalents	$ 68.9	$ 70.5
Trade accounts receivable - net	189.1	192.9
Inventories	111	107.7
Other current assets	43.5	79.7
Total current assets	412.5	450.8
Property, plant and equipment - net	338.6	322.1
Intangible assets - net	8.2	9.9
Goodwill	15.8	16.2
Deferred income taxes	123.1	115.4
Other noncurrent assets	22.7	16.5
Total assets	920.9	930.9
LIABILITIES AND SHAREHOLDERS' EQUITY
Short-term debt	28.6	18.6
Long-term debt - current portion	8.5	0.5
Accounts payable	142.4	152
Accrued compensation and employee benefits	58.6	56.7
Other current liabilities	35.5	83
Total current liabilities	273.6	310.8
Long-term debt	125.5	129.6
Deferred income taxes	4.2	3.1
Pensions	118.6	110.4
Other noncurrent liabilities	16.3	16.4
Total liabilities	$ 538.2	$ 570.3
Commitments and contingencies (see Note 19)
Shareholders' equity:
Preferred stock, $0.025 par value, authorized 16.0 million shares, issued - none	$ 0	$ 0
Common stock, $0.625 par value, authorized 80.0 million shares, issued 49.0 million and 48.6 million shares	30.6	30.4
Additional paid-in capital	185.6	180.6
Retained earnings	358.2	359.8
Accumulated other comprehensive loss	(174.2)	(198.6)
Treasury stock, at cost, 1.6 million and 0.7 million shares	(24)	(16.2)
Total Modine shareholders' equity	376.2	356
Noncontrolling interest	6.5	4.6
Total equity	382.7	360.6
Total liabilities and equity	$ 920.9	$ 930.9

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares shares in Millions	Mar. 31, 2016	Mar. 31, 2015
Shareholders' equity:
Preferred stock, par value (in dollars per share)	$ 0.025	$ 0.025
Preferred stock, shares authorized (in shares)	16	16
Preferred stock, shares issued (in shares)	0	0
Common stock, par value (in dollars per shares)	$ 0.625	$ 0.625
Common stock, shares authorized (in shares)	80	80
Common stock, shares issued (in shares)	49	48.6
Treasury stock at cost (in shares)	1.6	0.7

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions	12 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Mar. 31, 2014
Cash flows from operating activities:
Net (loss) earnings	$ (1)	$ 22.8	$ 131.9
Adjustments to reconcile net (loss) earnings to net cash provided by operating activities:
Depreciation and amortization	50.2	51.6	58.1
Insurance proceeds from Airedale fire	5.9	12.9	16.9
Impairment charges	9.9	7.8	3.2
Gain on sale of wind tunnel	0	(3.2)	0
Pension and postretirement expense	45.1	2.3	3.2
Loss from disposition of property, plant and equipment	0.4	1.1	2.6
Deferred income taxes	(18.8)	5.9	(116.1)
Stock-based compensation expense	4.9	4	3.6
Other - net	(0.3)	(0.7)	(0.5)
Changes in operating assets and liabilities, excluding acquisitions:
Trade accounts receivable	8	(0.1)	(18.2)
Inventories	(2.7)	(4.2)	(0.1)
Accounts payable	(9.9)	(2.4)	15.2
Accrued compensation and employee benefits	0.8	(5.3)	17.5
Other assets	(14.5)	(24.5)	2.1
Other liabilities	(5.6)	(4.5)	(14.9)
Net cash provided by operating activities	72.4	63.5	104.5
Cash flows from investing activities:
Expenditures for property, plant and equipment	(62.8)	(58.3)	(53.1)
Insurance proceeds from Airedale fire	27.4	12.2	20.7
Costs to replace building and equipment damaged in Airedale fire	(41.7)	(16.7)	(4.2)
Acquisitions - net of cash acquired	(1.4)	0	(7.8)
Proceeds from dispositions of assets	0.4	7.6	2.9
Purchases of short-term investments	(2.7)	(5.2)	0
Proceeds from maturities of short-term investments	2.1	2.4	0
Other - net	0.9	0.8	0
Net cash used for investing activities	(77.8)	(57.2)	(41.5)
Cash flows from financing activities:
Borrowings of debt	38	36.4	152.6
Repayments of debt	(27.1)	(50.9)	(152.4)
Purchases of treasury stock under share repurchase program	(6.9)	0	0
Financing fees paid	0	(0.1)	(0.9)
Dividend paid to noncontrolling interest	(0.9)	0	(0.5)
Other - net	(0.4)	0	(0.3)
Net cash provided by (used for) financing activities	2.7	(14.6)	(1.5)
Effect of exchange rate changes on cash	1.1	(8.4)	1.9
Net (decrease) increase in cash and cash equivalents	(1.6)	(16.7)	63.4
Cash and cash equivalents - beginning of year	70.5	87.2	23.8
Cash and cash equivalents - end of year	$ 68.9	$ 70.5	$ 87.2

CONSOLIDATED STATEMENTS OF SHAR

CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY - USD ($) shares in Millions, $ in Millions	Common stock [Member]	Additional paid-in capital [Member]	Retained earnings [Member]	Accumulated other comprehensive loss [Member]	Treasury stock, at cost [Member]	Non-controlling interest [Member]	Total
Balance at Mar. 31, 2013	$ 29.9	$ 171.2	$ 207.6	$ (128.4)	$ (14.6)	$ 2.6	$ 268.3
Balance (in shares) at Mar. 31, 2013	47.8
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings (loss) attributable to Modine	$ 0	0	130.4	0	0	0	130.4
Other comprehensive income (loss)	0	0	0	24.5	0	0.2	24.7
Stock options and awards including related tax benefits	$ 0.3	0.9	0	0	0	0	1.2
Stock options and awards including related tax benefits (in shares)	0.5
Purchase of treasury stock	$ 0	0	0	0	(0.6)	0	(0.6)
Stock-based compensation expense	0	3.6	0	0	0	0	3.6
Dividend paid to noncontrolling interest	0	0	0	0	0	(0.5)	(0.5)
Net earnings attributable to noncontrolling interest	0	0	0	0	0	1.5	1.5
Balance at Mar. 31, 2014	$ 30.2	175.7	338	(103.9)	(15.2)	3.8	428.6
Balance (in shares) at Mar. 31, 2014	48.3
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings (loss) attributable to Modine	$ 0	0	21.8	0	0	0	21.8
Other comprehensive income (loss)	0	0	0	(94.7)	0	(0.2)	(94.9)
Stock options and awards including related tax benefits	$ 0.2	0.9	0	0	0	0	1.1
Stock options and awards including related tax benefits (in shares)	0.3
Purchase of treasury stock	$ 0	0	0	0	(1)	0	(1)
Stock-based compensation expense	0	4	0	0	0	0	4
Net earnings attributable to noncontrolling interest	0	0	0	0	0	1	1
Balance at Mar. 31, 2015	$ 30.4	180.6	359.8	(198.6)	(16.2)	4.6	$ 360.6
Balance (in shares) at Mar. 31, 2015	48.6						48.6
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings (loss) attributable to Modine	$ 0	0	(1.6)	0	0	0	$ (1.6)
Other comprehensive income (loss)	0	0	0	24.4	0	(0.1)	24.3
Stock options and awards including related tax benefits	$ 0.2	0.1	0	0	0	0	0.3
Stock options and awards including related tax benefits (in shares)	0.4
Purchase of treasury stock	$ 0	0	0	0	(7.8)	0	(7.8)
Stock-based compensation expense	0	4.9	0	0	0	0	4.9
Contribution by noncontrolling interest	0	0	0	0	0	2.3	2.3
Dividend paid to noncontrolling interest	0	0	0	0	0	(0.9)	(0.9)
Net earnings attributable to noncontrolling interest	0	0	0	0	0	0.6	0.6
Balance at Mar. 31, 2016	$ 30.6	$ 185.6	$ 358.2	$ (174.2)	$ (24)	$ 6.5	$ 382.7
Balance (in shares) at Mar. 31, 2016	49						49

Significant Accounting Policies

Significant Accounting Policies	12 Months Ended
	Mar. 31, 2016
Significant Accounting Policies [Abstract]
Significant Accounting Policies	Note 1: Significant Accounting Policies Nature of operations: Basis of presentation: Consolidation principles: The Company accounts for investments in non-consolidated affiliated companies in which its ownership is 20 percent or more using the equity method. The Company states these investments at cost, plus or minus a proportionate share of undistributed net income (loss). The Company includes Modine’s share of the affiliate’s net income in other income and expense. See Note 12 for additional information. Discontinued operations: Assets held for sale: Revenue recognition: Tooling costs: Warranty: Shipping and handling costs: Research and development: Translation of foreign currencies: Derivative instruments: Income taxes: Earnings per share: Cash and cash equivalents: Short-term investments: Deferred compensation trust: Trade accounts receivable: Inventories: Property, plant and equipment Goodwill: Impairment of long-lived assets: Environmental liabilities: Self-insurance reserves: Stock-based compensation: New accounting guidance: In February 2016, the FASB issued new comprehensive lease accounting guidance that supersedes existing lease accounting guidance. Upon adoption of this new guidance, the Company will be required to recognize most leases on its balance sheet. This guidance is effective for the Company’s first quarter of fiscal 2020. The Company is currently evaluating the impact this guidance will have on its consolidated financial statements. In November 2015, the FASB issued new guidance, as part of its simplification initiative, that requires all deferred tax assets and liabilities to be classified as noncurrent on the balance sheet. The Company adopted this guidance, on a retrospective basis, for its fiscal year ending March 31, 2016. As a result, the Company reclassified approximately $13.0 million of deferred tax assets from current assets to noncurrent assets as of March 31, 2015 to conform to the current-period presentation. In May 2014, the FASB issued new guidance that outlines a comprehensive model for entities to use in accounting for revenue arising from contracts with customers. The core principle of the new guidance is that companies are to recognize revenue to depict the transfer of goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The new guidance also includes a cohesive set of disclosure requirements intended to provide users of financial statements with comprehensive information about revenue arising from contracts with customers. This new guidance is effective for the Company’s first quarter of fiscal 2019. The Company is currently evaluating the impact this guidance will have on its consolidated financial statements. Supplemental cash flow information: Years ended March 31, 2016 2015 2014 Interest paid $ 10.7 $ 10.3 $ 12.6 Income taxes paid 10.1 15.9 11.4

Airedale Facility Fire

Airedale Facility Fire	12 Months Ended
	Mar. 31, 2016
Airedale Facility Fire [Abstract]
Airedale Facility Fire	Note 2: Airedale Facility Fire On September 6, 2013, a fire caused significant destruction to the Company’s Airedale manufacturing facility and offices in Rawdon (Leeds), United Kingdom. The Company reports Airedale’s financial results within the Building HVAC segment. There were no injuries caused by the fire. The Rawdon facility, which is leased, was used to manufacture cooling products and solutions for a variety of applications, including data centers, clean rooms, retail, leisure and process cooling. The Company suspended operations at the Rawdon site as a result of the fire; however, it transferred operations to temporary facilities while it rebuilt the leased facility. The Company completed the reconstruction and relocation to the Rawdon facility in fiscal 2016. The Company’s insurance covered damage to the leased facility, equipment, inventory, and other assets, as well as business interruption and lost profits, and recovery-related expenses caused by the fire. Since the date of the fire, the Company has received cumulative cash proceeds of $96.0 million from its insurance provider for covered losses, and has recorded losses and costs caused by the fire in the same statement of operations line as the related insurance recovery. In fiscal 2016, the Company recorded a $9.5 million gain within other income related to an insurance settlement for equipment losses. This gain represents the replacement assets’ cost in excess of the carrying value of the equipment at the time it was destroyed by the fire. During fiscal 2015, the Company recorded $4.6 million of recoveries from business interruption insurance relating to fiscal 2015 and 2014 lost profits within SG&A expenses. The terms of the Rawdon lease agreement obligated the Company to rebuild the damaged facility. Upon completion of the rebuilt facility in fiscal 2016, the Company fulfilled this obligation and removed both the liability to rebuild the facility and the capitalized reconstruction costs from its consolidated balance sheet. As of March 31, 2015, the other current liability to rebuild the facility was $48.0 million and other current assets related to receivables from the Company’s insurance provider and capitalized reconstructions costs totaled $39.2 million.

Acquisitions

Acquisitions	12 Months Ended
	Mar. 31, 2016
Acquisitions [Abstract]
Acquisitions	Note 3: Acquisitions On January 29, 2016, the Company formed a joint venture, Modine Puxin Thermal Systems (Jiangsu) Co. Ltd. of Yangzhou, China, of which it owns 67%, and the joint venture partner, Jiangsu Puxin Heat Exchange System Co., Ltd, owns 33%. This joint venture, which is reported in the Asia segment, will expedite the Company’s introduction of stainless steel heat exchangers for the light-, medium-, and heavy-duty commercial vehicle markets in China. The Company contributed cash of $1.4 million, with additional cash consideration of $0.5 million payable after six months subject to the sellers’ indemnification obligations under the agreement, and equipment and other assets totaling $2.3 million. The Company recorded assets acquired and liabilities assumed at their respective fair values. The purchase price allocation resulted in acquired equipment and other long-lived assets totaling $1.5 million and working capital net assets of $0.8 million. The Company controls the primary management decisions and revenue-generating activities of the joint venture, and, therefore, the financial results of the joint venture are included in the Company’s consolidated financial statements. On February 28, 2014, the Company acquired 100 percent of the shares of Barkell Limited of Consett, United Kingdom for cash consideration of $7.8 million, net of cash acquired. This acquisition provides Modine with an expanded product offering into the air handling market within the Building HVAC segment. The Company recorded assets acquired and liabilities assumed at their respective fair values. The purchase price allocation resulted in intangible assets for acquired technology and customer relationships totaling $4.7 million; property, plant and equipment of $2.0 million; and working capital net assets of $1.1 million. Acquired technology consists of a fully developed product line and technical processes, and the customer relationships represent established sales channel and customer relationships. The Company is amortizing these acquired intangible assets over ten years. The results of operations of these acquired businesses are included in the Company’s consolidated statements of operations since the dates of acquisition. The Company did not present pro forma financial information as the effect of these acquisitions is not material to its results of operations or financial position.

Fair Value Measurements

Fair Value Measurements	12 Months Ended
	Mar. 31, 2016
Fair Value Measurements [Abstract]
Fair Value Measurements	Note 4: Fair Value Measurements Fair value is defined as the price that would be received for an asset or paid to transfer a liability in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants. Fair value measurements are classified under the following hierarchy: ● Level 1 – Quoted prices for identical instruments in active markets. ● Level 2 – Quoted prices for similar instruments in active markets; quoted prices for identical or similar instruments in markets that are not active; and model-derived valuations in which all significant inputs are observable in active markets. ● Level 3 – Model-derived valuations in which one or more significant inputs are not observable. When available, the Company uses quoted market prices to determine fair value and classifies such measurements as Level 1. In some cases, where market prices are not available, the Company uses observable market-based inputs to calculate fair value, in which case the measurements are classified as Level 2. If quoted or observable market prices are not available, fair value is based upon valuation models that use, where possible, market-based data such as interest rates, yield curves or currency rates. These measurements are classified as Level 3. The carrying values of cash and cash equivalents, short-term investments, trade accounts receivable, accounts payable, and short-term debt approximate fair value due to the short-term nature of these instruments. The Company holds trading securities in a deferred compensation trust to fund obligations under Modine’s non-qualified deferred compensation plan. The securities’ fair values, which are recorded as other noncurrent assets, are determined based on quoted prices from active markets and classified within Level 1 of the valuation hierarchy. The Company’s deferred compensation obligations, which are recorded as other noncurrent liabilities, are recorded at the fair values of the investments held by the trust. The fair values of the Company’s trading securities and deferred compensation obligations each totaled $3.2 million and $3.0 million at March 31, 2016 and 2015, respectively. The fair value of the Company’s long-term debt is disclosed in Note 16. Plan assets related to the Company’s pension plans were classified as follows: March 31, 2016 Level 1 Level 2 Total Money market investments $ - $ 5.8 $ 5.8 Common stocks 23.7 1.3 25.0 Corporate bonds - 8.4 8.4 Pooled equity funds 48.7 7.3 56.0 Pooled fixed-income funds 26.3 - 26.3 U.S. government and agency securities - 18.4 18.4 Other 0.4 1.2 1.6 Total $ 99.1 $ 42.4 $ 141.5 March 31, 2015 Level 1 Level 2 Total Money market investments $ - $ 8.1 $ 8.1 Common stocks 40.5 2.2 42.7 Corporate bonds - 23.5 23.5 Pooled equity funds 69.0 11.4 80.4 Pooled fixed-income funds 15.5 - 15.5 U.S. government and agency securities - 39.8 39.8 Other 0.7 6.3 7.0 Total $ 125.7 $ 91.3 $ 217.0 The Company determined the fair value of money market investments to approximate their net asset values, without discounts for credit quality or liquidity restrictions, and classified them within Level 2 of the valuation hierarchy. The Company determined the fair value of common stocks, pooled equity funds and pooled fixed-income funds based on quoted prices from active markets and classified them within Level 1 of the valuation hierarchy. The Company determined the fair value of certain common stocks, corporate bonds, pooled equity funds and U.S. government and agency securities based upon recent bid prices or the average of recent bid and asking prices when available and, if not available, the Company valued them through matrix pricing models developed by sources considered by management to be reliable. The Company classified these assets within Level 2 of the valuation hierarchy. As of March 31, 2016 and 2015, the Company held no Level 3 assets within its pension plans. Assets held for sale:

Stock-Based Compensation

Stock-Based Compensation	12 Months Ended
	Mar. 31, 2016
Stock-Based Compensation [Abstract]
Stock-Based Compensation	Note 5: Stock-Based Compensation The Company’s stock-based incentive programs consist of the following: (1) a long-term incentive compensation program for officers and executives that consists of restricted stock and stock options granted for retention and performance, (2) a discretionary equity program for management and other key employees, and (3) stock awards and/or stock options for non-employee directors. The Company’s Board of Directors and the Officer Nomination and Compensation Committee, as applicable, have discretionary authority to set the terms of the awards of stock under the Company’s Amended and Restated 2008 Incentive Compensation Plan (“Plan”). At present, the Company accomplishes the fulfillment of equity-based grants through the issuance of new common shares. As of March 31, 2016, approximately 3.3 million shares authorized under the Plan remain available for future grants. Employee participants have the opportunity to deliver back to the Company the number of shares from the vesting of stock awards sufficient to satisfy the individual’s minimum tax withholding obligations. These shares are held as treasury shares. The Company recorded stock-based compensation expense of $4.9 million, $4.0 million, and $3.6 million in fiscal 2016, 2015, and 2014, respectively. Stock Options: The Company estimated the fair value of option awards on the date of grant using the Black-Scholes option valuation model and the following assumptions: 2016 2015 2014 Weighted-average fair value of options $ 7.11 $ 10.21 $ 7.76 Expected life of awards in years 6.3 6.3 6.3 Risk-free interest rate 1.9 % 2.1 % 1.3 % Expected volatility of the Company's stock 66.9 % 76.1 % 88.7 % Expected dividend yield on the Company's stock 0.0 % 0.0 % 0.0 % Stock options expire no later than 10 years after the grant date and have an exercise price equal to the fair market value of the common stock on the date of grant. The risk-free interest rate was based on yields of U.S. Treasury zero-coupon issues with a term corresponding to the expected life of the options. The expected volatility assumption was based on changes in the Company’s historical common stock prices over the same time frame as the expected life of the awards. The expected dividend yield is zero as the Company currently does not anticipate paying dividends over the expected life of the options. The expected lives of the awards are based on historical patterns and the terms of the options. Outstanding options granted vest 25 percent annually for four years. The Company used a pre-vesting forfeiture rate of 2.5 percent as an estimate of expected forfeitures prior to completing the required service period. A summary of stock option activity for fiscal 2016 was as follows: Shares Weighted-average exercise price Weighted-average remaining contractual term (years) Aggregate intrinsic value Outstanding, beginning 1.5 $ 11.99 Granted 0.2 11.39 Exercised (0.1 ) 5.82 Forfeited or expired (0.1 ) 27.33 Outstanding, ending 1.5 $ 10.82 5.3 $ 3.0 Exercisable, March 31, 2016 1.1 $ 10.41 4.3 $ 3.0 The aggregate intrinsic value represents the difference between the closing price of Modine’s common shares on the last trading day of fiscal 2016 over the exercise price of the stock options, multiplied by the number of options outstanding or exercisable. The aggregate intrinsic value is not recorded for financial statement purposes, and this value will change based upon daily changes in the fair value of Modine’s common shares. Additional information related to stock options exercised during fiscal 2016, 2015, and 2014 was as follows: 2016 2015 2014 Intrinsic value of stock options exercised $ 0.4 $ 0.4 $ 1.1 Proceeds from stock options exercised $ 0.5 $ 0.6 $ 1.1 Restricted Stock: A summary of restricted stock activity for fiscal 2016 was as follows: Shares Weighted- average price Non-vested balance, beginning 0.7 $ 10.68 Granted 0.3 11.18 Vested (0.4 ) 10.01 Non-vested balance, ending 0.6 $ 11.29 Restricted Stock – Performance-Based Shares: Shares are earned under the performance portion of the restricted stock award program based upon the attainment of certain financial goals over a three-year period and are awarded after the end of that three-year performance period, if the performance targets have been achieved. A new performance period may begin each fiscal year; therefore, multiple performance periods, with distinct goals, may operate simultaneously. The performance components of the programs initiated in fiscal 2016 and fiscal 2015 were based upon both a target three-year average consolidated return on average capital employed (“ROACE”) and a target three-year average annual revenue growth at the end of a three-year performance period, commencing with the fiscal year of grant. For the program initiated in fiscal 2014, the performance award was based upon a target three-year average ROACE, three-year average annual revenue growth, and Asia segment operating income at the end of the three-year performance period.

Restructuring Activities

Restructuring Activities	12 Months Ended
	Mar. 31, 2016
Restructuring and Impairment Charges [Abstract]
Restructuring and Impairment Charges	Note 6: Restructuring Activities During fiscal 2016, the Company offered a voluntary retirement program to certain U.S. salaried employees. The program was offered as part of the Company’s Strengthen, Diversify and Grow transformational initiative and supports the objective of reducing operational and SG&A cost structures. Also during fiscal 2016, the Company announced a plan to close its Washington, Iowa manufacturing facility and is in the process of transferring the facility’s production to other Americas segment manufacturing facilities, which it expects to complete by the end of fiscal 2017. In addition, the Company completed the transfer of production from its McHenry, Illinois manufacturing facility to other Americas segment manufacturing facilities. These restructuring activities reflect the Company’s focus on operating scale manufacturing facilities to improve overall competitiveness and profitability. During fiscal 2015, the Company initiated a headcount reduction plan for its Brazil manufacturing facility within its Americas segment. The headcount reductions were in response to the economic slowdown in Brazil and reflect the Company’s objective to maintain profitability in this business despite lower sales volume. In addition, the Company continues to execute restructuring activities within its Europe segment. These restructuring activities have included implementing headcount reductions, exiting certain non-core product lines based upon Modine’s global product strategy, reducing manufacturing costs, consolidating production facilities, and disposing of and selling certain underperforming or non-strategic assets. The Company designed these activities to align the cost structure of the segment with its strategic focus on the commercial vehicle, off-highway, automotive component, and engine product markets, while improving gross margin and return on average capital employed. Restructuring and repositioning expenses were as follows: Years ended March 31, 2016 2015 2014 Employee severance and related benefits $ 12.8 $ 1.2 $ 14.8 Accelerated depreciation - - 4.3 Other restructuring and repositioning expenses 3.8 3.5 1.3 Total $ 16.6 $ 4.7 $ 20.4 Other restructuring and repositioning expenses primarily consist of equipment transfer and plant consolidation costs. During fiscal 2016, 2015, and 2014, the Company recorded $16.6 million, $4.7 million, and $16.1 million, respectively, of restructuring and repositioning expenses as restructuring expenses in the consolidated statement of operations. During fiscal 2014, the Company recorded $4.3 million of restructuring and repositioning expenses within cost of sales in the consolidated statement of operations. The Company accrues severance in accordance with its written plans, procedures, and relevant statutory requirements. Changes in accrued severance were as follows: Years ended March 31, 2016 2015 Beginning balance $ 9.9 $ 19.4 Additions 12.8 1.2 Payments (8.5 ) (7.3 ) Effect of exchange rate changes 0.5 (3.4 ) Ending balance $ 14.7 $ 9.9 During fiscal 2016, the Company identified potential impairment indicators related to a manufacturing facility in Germany, including pre-tax losses and its strategic decision to exit a certain product line in the future. In response, the Company performed an impairment evaluation and recorded an asset impairment charge of $9.9 million within its Europe segment to write down the manufacturing facility’s long-lived assets to fair value. The Company determined fair value using Level 3 inputs, primarily consisting of a facility appraisal, which considered the market rental value, During fiscal 2014, the Company recorded asset impairment charges totaling $3.2 million, including $2.0 million within its Europe segment, primarily due to a manufacturing facility in Germany that the Company has closed, and $1.2 million within its Americas segment, related to the closure of its McHenry, Illinois manufacturing facility. During fiscal 2015, the Company sold a wind tunnel within its Europe segment for cash proceeds of $5.8 million and recognized a gain of $3.2 million. At March 31, 2016 and 2015, assets held for sale of $8.5 million and $3.2 million, respectively, were included in other noncurrent assets and consisted of facilities that the Company is marketing for sale.

Other Income and Expense

Other Income and Expense	12 Months Ended
	Mar. 31, 2016
Other Income and Expense [Abstract]
Other Income and Expense	Note 7: Other Income and Expense Other income and expense consisted of the following: Years ended March 31, 2016 2015 2014 Equity in earnings of non-consolidated affiliate $ 0.1 $ 0.6 $ 0.7 Interest income 0.4 0.5 0.5 Foreign currency transactions (a) (1.3 ) (0.9 ) (2.0 ) Gain from insurance recovery (b) 9.5 - - Total other income (expense) - net $ 8.7 $ 0.2 $ (0.8 ) (a) Foreign currency transactions primarily consist of foreign currency transaction gains and losses on the re-measurement or settlement of foreign currency-denominated assets and liabilities, including intercompany loans and transactions denominated in a foreign currency, along with gains and losses on foreign currency exchange contracts. (b) During fiscal 2016, the Company settled an insurance claim related to machinery and equipment destroyed in a fire at its Airedale facility and recorded a gain of $9.5 million. See Note 2 for additional information.

Income Taxes

Income Taxes	12 Months Ended
	Mar. 31, 2016
Income Taxes [Abstract]
Income Taxes	Note 8: Income Taxes The U.S. and foreign components of earnings from continuing operations before income taxes and the provision or benefit for income taxes consisted of the following: Years ended March 31, 2016 2015 2014 Components of (loss) earnings from continuing operations before income taxes: United States $ (15.4 ) $ 31.1 $ 14.1 Foreign 5.5 10.1 9.9 Total (loss) earnings from continuing operations before income taxes $ (9.9 ) $ 41.2 $ 24.0 Income tax (benefit) expense: Federal: Current $ 0.1 $ 0.4 $ (2.0 ) Deferred (13.0 ) 7.1 (95.8 ) State: Current 0.2 - 0.2 Deferred (2.5 ) 1.1 (21.4 ) Foreign: Current 9.6 12.7 10.0 Deferred (3.3 ) (2.3 ) 1.1 Total income tax (benefit) expense $ (8.9 ) $ 19.0 $ (107.9 ) The Company allocates income tax expense among continuing operations, discontinued operations, and other comprehensive income. The Company applies accounting for income taxes by tax jurisdiction, and in periods in which there is a loss from continuing operations before income taxes and pre-tax income in other categories (e.g., discontinued operations or other comprehensive income), it first allocates income tax expense to the other sources of income, and records a related tax benefit in continuing operations. Income tax expense attributable to earnings from continuing operations before income taxes differed from the amounts computed by applying the statutory U.S. federal income tax rate as a result of the following: Years ended March 31, 2016 2015 2014 Statutory federal tax 35.0 % 35.0 % 35.0 % State taxes, net of federal benefit 11.5 2.4 2.1 Taxes on non-U.S. earnings and losses 26.4 (4.9 ) (3.8 ) Valuation allowance (20.9 ) 8.3 (471.7 ) Tax credits 20.5 (6.1 ) (7.1 ) Compensation (3.7 ) 1.0 0.4 Tax rate or law changes 1.3 1.2 (9.2 ) Uncertain tax positions, net of settlements (4.3 ) 2.2 0.4 Dividend repatriation 16.0 2.4 5.8 Other 8.1 4.6 (1.5 ) Effective tax rate 89.9 % 46.1 % (449.6 %) The Company recorded an additional valuation allowance of $5.0 million, $2.6 million and $12.3 million in fiscal 2016, 2015, and 2014, respectively, against net deferred tax assets in certain jurisdictions after determining it was more likely than not that the net deferred tax assets in these jurisdictions will not be realized. The Company will continue to provide a valuation allowance against its net deferred tax assets in each of the applicable jurisdictions going forward until the need for a valuation allowance is eliminated. The need for a valuation allowance is eliminated when the Company determines it is more likely than not the deferred tax assets will be realized. During fiscal 2016 and 2014, the Company concluded it no longer needed a valuation allowance on certain deferred tax assets after determining it was more likely than not they would be realized. As a result, the Company recorded reversals of its deferred tax asset valuation allowance of $3.0 million and $119.2 million in fiscal 2016 and 2014, respectively. Also during fiscal 2014, the Company recorded income tax benefits totaling $2.2 million related to foreign tax law changes. The tax effects of temporary differences that gave rise to deferred tax assets and liabilities were as follows: March 31, 2016 2015 Deferred tax assets: Accounts receivable $ 0.1 $ 0.3 Inventories 3.6 3.8 Plant and equipment 4.3 0.8 Pension and employee benefits 52.6 50.5 Net operating loss, capital loss, and credit carryforwards 109.4 105.0 Other, principally accrued liabilities 6.9 6.8 Total gross deferred tax assets 176.9 167.2 Less: valuation allowance (50.8 ) (48.0 ) Net deferred tax assets 126.1 119.2 Deferred tax liabilities: Plant and equipment 5.5 5.3 Goodwill 0.6 0.6 Other 1.1 1.0 Total gross deferred tax liabilities 7.2 6.9 Net deferred tax asset $ 118.9 $ 112.3 As of March 31, 2016, the Company adopted new accounting guidance, which requires that all deferred taxes be presented as non-current on the consolidated balance sheets. See Note 1 for additional information. Unrecognized tax benefits were as follows: Years ended March 31, 2016 2015 Beginning balance $ 5.6 $ 2.1 Gross increases - tax positions in prior period - 3.1 Gross decreases - tax positions in prior period (0.1 ) - Gross increases - tax positions in current period 0.4 0.4 Ending balance $ 5.9 $ 5.6 The Company’s liability for unrecognized tax benefits as of March 31, 2016 was $5.9 million, and if recognized, $3.5 million would have an effective tax rate impact. The Company recognizes interest and penalties related to unrecognized tax benefits as a component of income tax expense. At March 31, 2016 and 2015, accrued interest and penalties were not significant. The Company files income tax returns in multiple jurisdictions and is subject to examination by taxing authorities throughout the world. At March 31, 2016, the Company was under income tax examination in a number of foreign jurisdictions. The Company does not anticipate a significant change in unrecognized tax benefits during the next twelve months. The following tax years remain subject to examination for the Company’s major tax jurisdictions: Austria Fiscal 2012 - 2015 Brazil Calendar 2011 - 2015 Germany Fiscal 2012 - 2015 United States Fiscal 2013 - 2015 At March 31, 2016, the Company had federal and state research and development tax credits of $23.3 million that, if not utilized against domestic taxes, will expire between fiscal 2018 and 2036. The Company also had various state and local tax loss carry forwards of $190.8 million that, if not utilized against state apportioned taxable income, will expire at various times during fiscal 2017 through 2036. In addition, the Company had tax loss carry forwards of $330.7 million in various tax jurisdictions throughout the world. Certain of the carry forwards in the U.S. and many in foreign jurisdictions are offset by a valuation allowance. If not utilized against taxable income, $156.9 million of these tax losses will expire at various times during fiscal 2017 through 2035, and $173.8 million, mainly related to Germany, Austria and India, will not expire due to an unlimited carry-forward period. At March 31, 2016, the Company provided $1.1 million of tax on undistributed earnings for certain subsidiaries not considered permanently reinvested. Undistributed earnings totaling $491.0 million are considered permanently reinvested in the Company’s remaining foreign operations, and no provision has been made for taxes that would be payable upon the distribution of such earnings. It is not practicable to estimate the amount of unrecognized withholding taxes and deferred tax liability on such earnings.

Earnings Per Share

Earnings Per Share	12 Months Ended
	Mar. 31, 2016
Earnings Per Share [Abstract]
Earnings Per Share	Note 9: Earnings Per Share The components of basic and diluted earnings per share were as follows: Years ended March 31, 2016 2015 2014 Basic: (Loss) earnings from continuing operations $ (1.0 ) $ 22.2 $ 131.9 Less: Net earnings attributable to noncontrolling interest (0.6 ) (1.0 ) (1.5 ) Less: Undistributed earnings attributable to unvested shares - (0.2 ) (1.7 ) (Loss) earnings from continuing operations available to Modine shareholders (1.6 ) 21.0 128.7 Earnings from discontinued operations, net of income taxes - 0.6 - Net (loss) earnings available to Modine shareholders $ (1.6 ) $ 21.6 $ 128.7 Weighted-average shares outstanding - basic 47.3 47.2 46.9 Basic Earnings Per Share: (Loss) earnings per share - continuing operations $ (0.03 ) $ 0.45 $ 2.75 Earnings per share - discontinued operations - 0.01 - Net (loss) earnings per share - basic $ (0.03 ) $ 0.46 $ 2.75 Diluted: (Loss) earnings from continuing operations $ (1.0 ) $ 22.2 $ 131.9 Less: Net earnings attributable to noncontrolling interest (0.6 ) (1.0 ) (1.5 ) Less: Undistributed earnings attributable to unvested shares - (0.2 ) (0.9 ) (Loss) earnings from continuing operations available to Modine shareholders (1.6 ) 21.0 129.5 Earnings from discontinued operations, net of income taxes - 0.6 - Net (loss) earnings available to Modine shareholders $ (1.6 ) $ 21.6 $ 129.5 Weighted-average shares outstanding - basic 47.3 47.2 46.9 Effect of dilutive securities - 0.6 0.7 Weighted-average shares outstanding - diluted 47.3 47.8 47.6 Diluted Earnings Per Share: (Loss) earnings per share - continuing operations $ (0.03 ) $ 0.44 $ 2.72 Earnings per share - discontinued operations - 0.01 - Net (loss) earnings per share - diluted $ (0.03 ) $ 0.45 $ 2.72 For the years ended March 31, 2016, 2015, and 2014, the calculation of diluted earnings per share excluded 0.8 million, 0.6 million, and 0.8 million stock options, respectively, because they were anti-dilutive. For the year ended March 31, 2016, the total number of potential dilutive securities was 0.4 million. However, these securities were not included in the computation of diluted net loss per share since to do so would decrease the loss per share.

Inventories

Inventories	12 Months Ended
	Mar. 31, 2016
Inventories [Abstract]
Inventories	Note10: Inventories Inventories consisted of the following: March 31, 2016 2015 Raw materials and work in process $ 79.5 $ 80.7 Finished goods 31.5 27.0 Total inventories $ 111.0 $ 107.7

Property, Plant and Equipment

Property, Plant and Equipment	12 Months Ended
	Mar. 31, 2016
Property, Plant and Equipment [Abstract]
Property, Plant and Equipment	Note11: Property, Plant and Equipment Property, plant and equipment, including depreciable lives, consisted of the following: March 31, 2016 2015 Land $ 7.2 $ 8.2 Buildings and improvements (10-40 years) 221.3 221.0 Machinery and equipment (3-12 years) 694.3 652.0 Office equipment (3-10 years) 84.1 81.9 Construction in progress 36.7 31.7 1,043.6 994.8 Less: accumulated depreciation (705.0 ) (672.7 ) Net property, plant and equipment $ 338.6 $ 322.1 Depreciation expense totaled $48.6 million, $50.0 million and $57.3 million for the years ended March 31, 2016, 2015, and 2014, respectively. Gains and losses related to the disposal of property, plant and equipment are recorded in SG&A expenses. Total losses related to the disposal of property, plant and equipment were $0.4 million, $1.1 million and $2.6 million for the years ended March 31, 2016, 2015, and 2014, respectively.

Investment in Affiliate

Investment in Affiliate	12 Months Ended
	Mar. 31, 2016
Investment in Affiliate [Abstract]
Investment in Affiliate	Note 12: Investment in Affiliate The Company’s investment in its non-consolidated affiliate is accounted for under the equity method. The Company has a 50 percent ownership of Nikkei Heat Exchanger Company, Ltd. (“NEX”). At both March 31, 2016 and 2015, the Company included the investment in NEX of $3.2 million in other noncurrent assets. At March 31, 2016, the investment in NEX is equal to the Company's investment in the underlying assets. The Company reports the results of operations for NEX in the consolidated financial statements using a one-month reporting delay. The Company reports equity in earnings from non-consolidated affiliates within other income and expense in the consolidated statements of operations. The Company’s share of NEX’s earnings for the years ended March 31, 2016, 2015, and 2014 was $0.1 million, $0.6 million and $0.7 million, respectively.

Intangible Assets

Intangible Assets	12 Months Ended
	Mar. 31, 2016
Intangible Assets [Abstract]
Intangible Assets	Note13: Intangible Assets Intangible assets consisted of the following: March 31, 2016 March 31, 2015 Gross Carrying Value Accumulated Amortization Net Intangible Assets Gross Carrying Value Accumulated Amortization Net Intangible Assets Trade names $ 8.9 $ (6.3 ) $ 2.6 $ 9.1 $ (5.8 ) $ 3.3 Acquired technology 5.5 (1.5 ) 4.0 5.6 (0.9 ) 4.7 Customer relationships 2.0 (0.4 ) 1.6 2.1 (0.2 ) 1.9 Total intangible assets $ 16.4 $ (8.2 ) $ 8.2 $ 16.8 $ (6.9 ) $ 9.9 The Company recorded $1.6 million, $1.6 million and $0.8 million of amortization expense during fiscal 2016, 2015 and 2014, respectively. Estimated future amortization expense is as follows: Fiscal Year Estimated Amortization Expense 2017 $ 1.6 2018 1.6 2019 1.5 2020 1.3 2021 0.8 2022 & Beyond 1.4

Goodwill

Goodwill	12 Months Ended
	Mar. 31, 2016
Goodwill [Abstract]
Goodwill	Note 14: Goodwill Changes in the carrying amount of goodwill, by segment and in the aggregate, were as follows: Americas Asia Building HVAC Total Balance, March 31, 2014 $ 10.9 $ 0.5 $ 17.3 $ 28.7 Impairment charge (7.8 ) - - (7.8 ) Effect of exchange rate changes (3.1 ) - (1.6 ) (4.7 ) Balance, March 31, 2015 - 0.5 15.7 16.2 Effect of exchange rate changes - - (0.4 ) (0.4 ) Balance, March 31, 2016 $ - $ 0.5 $ 15.3 $ 15.8 The Company assesses goodwill for impairment annually, or more frequently if events or circumstances change that would, more likely than not, reduce the fair value of a reporting unit below its carrying value. The Company conducted its annual assessment for goodwill impairment during the fourth quarter of fiscal 2016 by applying a fair value-based test and determined that the fair value of its reporting units exceeded their respective book values. In fiscal 2015, the Company recorded a $7.8 million goodwill impairment charge within the Americas segment in connection with its annual assessment. The impairment charge was primarily caused by a decline in the financial outlook for Brazil. At both March 31, 2016 and 2015, accumulated goodwill impairment losses totaled $31.6 million and $8.7 million within the Americas and Europe segments, respectively.

Product Warranties, Operating L

Product Warranties, Operating Leases and Other Commitments	12 Months Ended
	Mar. 31, 2016
Product Warranties, Operating Leases and Other Commitments [Abstract]
Product Warranties, Operating Leases and Other Commitments	Note 15: Product Warranties, Operating Leases, and Other Commitments Product warranties Changes in accrued warranty costs were as follows: Years ended March 31, 2016 2015 Beginning balance $ 10.4 $ 14.0 Warranties recorded at time of sale 5.7 5.8 Adjustments to pre-existing warranties (1.1 ) 1.5 Settlements (6.7 ) (9.2 ) Effect of exchange rate changes - (1.7 ) Ending balance $ 8.3 $ 10.4 Operating leases: Future minimum rental commitments at March 31, 2016 under non-cancelable operating leases were as follows: Fiscal Year 2017 $ 8.1 2018 5.6 2019 4.8 2020 4.6 2021 4.1 2022 and beyond 26.3 Total $ 53.5 Indemnification agreements: Commitments:

Indebtedness

Indebtedness	12 Months Ended
	Mar. 31, 2016
Indebtedness [Abstract]
Indebtedness	Note 16: Indebtedness Long-term debt was comprised of the following: Fiscal year of maturity March 31, 2016 March 31, 2015 Foreign credit agreements 2018-2020 $ 0.4 $ 0.2 6.8% Senior Notes 2017-2021 125.0 125.0 Revolving credit facility 2019 - - 125.4 125.2 Other (a) 2017-2030 8.6 4.9 134.0 130.1 Less: current portion (8.5 ) (0.5 ) Total long-term debt $ 125.5 $ 129.6 (a) Other long-term debt includes capital lease obligations and other financing-type obligations. The Company maintains a $175.0 million domestic revolving credit facility, which expires in August 2018. Borrowings under the credit agreement bear interest at a variable rate based on the London Interbank Offered Rate (“LIBOR”) plus 125 to 225 basis points (1.8 percent at March 31, 2016) depending upon the Company’s leverage ratio, as defined below. At March 31, 2016 and 2015, no borrowings were outstanding under the revolving credit facility. The Company also maintains credit agreements for its foreign subsidiaries, with outstanding short-term borrowings at March 31, 2016 and 2015 of $28.6 million and $18.6 million, respectively. At March 31, 2016, the Company’s foreign unused lines of credit totaled $32.0 million. In aggregate, the Company had total available lines of credit of $207.0 million at March 31, 2016. Provisions in the Company’s revolving credit facility, Senior Note agreements, and various foreign credit agreements require the Company to maintain compliance with various covenants and include certain cross-default clauses. Under its primary debt agreements in the U.S., the Company has provided liens on substantially all domestic assets. The Company is also subject to a leverage ratio covenant, which requires the Company to limit its consolidated indebtedness, less a portion of the Company’s cash balance, both as defined by the credit agreement, to no more than three and one-quarter times consolidated net earnings before interest, taxes, depreciation, amortization, and certain other adjustments (“Adjusted EBITDA”), and an interest expense coverage ratio, which requires the Company to maintain Adjusted EBITDA of at least three times consolidated interest expense. The Company was in compliance with its debt covenants as of March 31, 2016. Long-term debt matures as follows: Fiscal Year 2017 $ 8.5 2018 16.5 2019 16.5 2020 16.6 2021 69.4 2022 & beyond 6.5 Total $ 134.0 The Company estimates the fair value of long-term debt using discounted future cash flows at rates offered to the Company for similar debt instruments of comparable maturities. At March 31, 2016 and 2015, the carrying value of Modine’s long-term debt approximated fair value, with the exception of the Senior Notes, which had a fair value of approximately $139.0 million and $141.0 million, respectively. The fair value of the Senior Notes is categorized as Level 2 within the fair value hierarchy. Refer to Note 4 for the definition of a Level 2 fair value measurement.

Pension and Employee Benefit Pl

Pension and Employee Benefit Plans	12 Months Ended
	Mar. 31, 2016
Pension and Employee Benefit Plans [Abstract]
Pension and Employee Benefit Plans	Note 17: Pension and Employee Benefit Plans Defined Contribution Employee Benefit Plans: The Company maintains domestic 401(k) plans that allow employees to contribute a portion of their salary to help save for retirement. The Company matched 50 percent of employee contributions, up to 5 percent of employee compensation, during fiscal 2016, 2015, and 2014. The Company also makes annual employer contributions into active employee accounts based upon a percentage of employee compensation. Employees can choose among various investment alternatives, including (subject to restrictions) Modine stock. The Company’s matching contributions and annual employer contributions are discretionary. The Company’s expense for defined contribution employee benefit plans during fiscal 2016, 2015, and 2014 was $4.6 million, $5.9 million, and $8.3 million, respectively. The decreasing trend in expense from fiscal 2014 was primarily due to lower discretionary employer contributions. In addition, the Company maintains a non-qualified deferred compensation plan for eligible employees, and various non-U.S. subsidiaries have government-required defined contribution plans in place, under which they contribute a percentage of employee earnings into accounts, consistent with local laws. Statutory Termination Plans: Certain non-U.S. subsidiaries have statutory termination indemnity plans covering eligible employees. The benefits under these plans are based upon years of service and final average compensation levels or a monthly retirement benefit amount. These programs are all substantially unfunded in accordance with local laws, but are often covered by national obligatory umbrella insurance programs that protect employees from losses in the event that an employer defaults on its obligations. Defined Benefit Employee Benefit Plans: Pension plans: The Company contributed $6.7 million, $5.9 million, and $8.0 million to its U.S. pension plans during fiscal 2016, 2015, and 2014, respectively. These contributions are reported in the change in other liabilities in the consolidated statements of cash flows. During fiscal 2016, in an effort to reduce the size, volatility, mortality risk, and costs associated with its U.S. pension plans, the Company completed a voluntary lump-sum payout program offered to certain eligible former employees. Approximately 2,000 participants accepted the lump-sum settlement offer. During fiscal 2016, a total of $65.3 million was paid from pension plan assets for lump-sum payouts, which reduced the Company’s pension obligation by the same amount. In connection with these lump-sum payouts, the Company recorded $42.1 million of non-cash settlement losses related to the accelerated recognition of unamortized actuarial losses previously recorded on the consolidated balance sheets within accumulated other comprehensive loss. During fiscal 2016, the Company recorded $33.3 million and $8.8 million of settlement losses as SG&A expenses and cost of sales, respectively, within the consolidated statements of operations. Postretirement plans Measurement Date: Changes in benefit obligations and plan assets, as well as the funded status of the Company’s pension plans, for the fiscal years ended March 31, 2016 and 2015 were as follows: 2016 2015 Change in benefit obligation: Benefit obligation at beginning of year $ 328.2 $ 295.7 Service cost 0.6 0.5 Interest cost 11.2 13.0 Actuarial (gain) loss (2.8 ) 40.6 Benefits paid (a) (78.1 ) (14.6 ) Effect of exchange rate changes 1.9 (7.0 ) Benefit obligation at end of year $ 261.0 $ 328.2 Change in plan assets: Fair value of plan assets at beginning of year $ 217.0 $ 213.7 Actual return on plan assets (5.3 ) 10.8 Benefits paid (a) (78.1 ) (14.6 ) Employer contributions 7.9 7.1 Fair value of plan assets at end of year $ 141.5 $ 217.0 Funded status at end of year $ (119.5 ) $ (111.2 ) Amounts recognized in the consolidated balance sheets: Current liability $ (0.9 ) $ (0.8 ) Noncurrent liability (118.6 ) (110.4 ) $ (119.5 ) $ (111.2 ) (a) In fiscal 2016, $65.3 million was paid from plan assets in connection with lump-sum payouts. The accumulated benefit obligation for pension plans was $257.9 million and $325.5 million as of March 31, 2016 and 2015, respectively. The net actuarial loss related to the pension plans recognized in accumulated other comprehensive loss was $162.0 million and $192.3 million as of March 31, 2016 and 2015, respectively. Costs for the Company’s pension plans included the following components for the fiscal years ended March 31, 2016, 2015, and 2014: 2016 2015 2014 Components of net periodic benefit cost: Service cost $ 0.6 $ 0.5 $ 0.6 Interest cost 11.2 13.0 13.0 Expected return on plan assets (14.9 ) (16.7 ) (15.7 ) Amortization of net actuarial loss 6.4 5.5 6.3 Settlements (a) 42.1 - - Net periodic benefit cost $ 45.4 $ 2.3 $ 4.2 Other changes in benefit obligation recognized in other comprehensive loss (income): Net actuarial loss (gain) $ 17.5 $ 46.4 $ (17.3 ) Amortization of net actuarial loss (a) (48.5 ) (5.5 ) (6.3 ) Total recognized in other comprehensive (income) loss $ (31.0 ) $ 40.9 $ (23.6 ) (a) During fiscal 2016, in connection with lump-sum payouts to pension plan participants, the Company recorded $42.1 million of settlement losses, which were previously recorded in accumulated other comprehensive loss. The Company estimates $5.6 million of net actuarial loss for its pension plans will be amortized from accumulated other comprehensive loss into net periodic benefit cost during fiscal 2017. The Company used a discount rate of 4.1% and 4.0% as of March 31, 2016 and 2015, respectively, in determining its benefit obligations under its U.S. pension plans. The Company used a discount rate of 1.8% and 1.3% as of March 31, 2016 and 2015, respectively, in determining its benefit obligations under its non-U.S. pension plans. The Company used a discount rate of 4.3%, 4.7%, and 4.4% to determine its costs under its U.S. pension plans for the fiscal years ended March 31, 2016, 2015, and 2014, respectively. The Company used a discount rate of 1.3%, 3.0%, and 3.5% to determine its costs under its non-U.S. pension plans for the fiscal years ended March 31, 2016, 2015, and 2014, respectively. The Company determined the discount rates used for its U.S. pension plans by modeling a portfolio of high-quality corporate bonds, with appropriate consideration given to expected defined benefit payment terms and duration of the respective pension obligations. The Company used a similar process to determine the discount rate for its non-U.S. pension obligations. Plan assets in the U.S. defined benefit plans comprise 100 percent of the Company’s world-wide pension plan assets. The Company’s U.S. pension plan weighted-average asset allocations at the measurement dates of March 31, 2016 and 2015 were as follows: Target allocation Plan assets 2016 2015 Equity securities 55 % 56 % 55 % Debt securities 38 % 36 % 36 % Alternative assets 5 % 4 % 5 % Cash 2 % 4 % 4 % 100 % 100 % 100 % Due to market conditions and other factors, including timing of benefit payments and other transactions, actual asset allocation may vary from the target allocation outlined above. The Company periodically rebalances the assets to the target allocations. As of March 31, 2016 and 2015, the Company’s pension plans did not directly own shares of Modine common stock. The Company employs a total return investment approach, whereby a mix of equities and fixed-income investments are used to maximize the long-term return of plan assets, while avoiding excessive risk. The Company has established pension plan guidelines based upon an evaluation of market conditions, tolerance for risk and cash requirements for benefit payments. The Company measures and monitors investment risk on an ongoing basis through quarterly investment portfolio reviews, annual liability measurements and periodic asset/liability studies. The expected rate of return on U.S. plan assets is based upon historical return experience and forward-looking return expectations for major asset class categories. For fiscal 2016, 2015, and 2014 U.S. pension plan expense, the expected rate of return on plan assets was 8.0 percent. For fiscal 2017 U.S. pension plan expense, the Company has assumed a rate of return on plan assets of 8.0 percent. The Company’s funding policy for its U.S. pension plans is to contribute annually, at a minimum, the amount necessary on an actuarial basis to provide for benefits in accordance with applicable laws and regulations. The Company expects to make contributions of $8.1 million to these plans during fiscal 2017. Estimated pension benefit payments for the next ten fiscal years are as follows: Fiscal Year Estimated Pension Benefit Payments 2017 $ 14.5 2018 15.2 2019 15.3 2020 15.8 2021 16.1 2022-2026 79.3

Derivative Instruments

Derivative Instruments	12 Months Ended
	Mar. 31, 2016
Derivative Instruments [Abstract]
Derivative Instruments	Note 18: Derivative Instruments The Company uses derivative financial instruments from time to time as a tool to manage certain financial risks. The Company’s policy prohibits the use of leveraged derivatives. Accounting for derivatives and hedging activities requires derivative financial instruments to be measured at fair value and recognized as assets or liabilities in the consolidated balance sheets. Accounting for the gain or loss resulting from the change in fair value of the derivative financial instruments depends on whether it has been designated, and is effective, as a hedge, and, if so, on the nature of the hedging activity. Commodity Derivatives: Foreign exchange contracts: The fair value of the Company’s derivative financial instruments recorded in the consolidated balance sheets were as follows: Balance Sheet Location March 31, 2016 March 31, 2015 Foreign exchange contracts Other current assets $ 0.1 $ - Foreign exchange contracts Other current liabilities - 0.3 Commodity derivatives Other current liabilities 0.1 0.1 The amounts recorded in the consolidated statements of operations for the Company’s derivative financial instruments were as follows: Statement of Operations Years ended March 31, Location 2016 2015 2014 Commodity derivatives Cost of sales $ (0.7 ) $ (0.2 ) $ (0.5 ) Foreign exchange contracts Other income (expense) - net 0.6 (1.1 ) - Total loss $ (0.1 ) $ (1.3 ) $ (0.5 )

Contingencies and Litigation

Contingencies and Litigation	12 Months Ended
	Mar. 31, 2016
Contingencies and Litigation [Abstract]
Contingencies and Litigation	Note 19: Contingencies and Litigation Market risk: Credit risk: The Company manages credit risk through its focus on the following: ● Cash and investments – reviewing cash deposits and short-term investments to ensure banks have credit ratings acceptable to the Company and that short-term investments are maintained in secured or guaranteed instruments; ● Accounts receivable – performing periodic customer credit evaluations and actively monitoring their financial condition and applicable business news; ● Pension assets – ensuring that investments within pension plans provide appropriate diversification, monitoring of investment teams, ensuring that portfolio managers adhere to the Company’s investment policies and directives, and ensuring that exposure to high risk investments is limited; and ● Insurance – ensuring that insurance providers maintain acceptable financial ratings. Counterparty risks: ● Customers – performing thorough reviews of customer credit reports and accounts receivable aging reports by internal credit committees; ● Suppliers – maintaining a supplier risk management program and utilizing industry sources to identify and mitigate high risk situations; and ● Derivatives – ensuring that counterparties to derivative instruments maintain credit ratings that are acceptable to the Company. Environmental: The Company has recorded environmental investigation and remediation accruals for subsurface contamination at its former manufacturing facility in the Netherlands and groundwater contamination at its manufacturing facility in Brazil. During fiscal 2016, the Company recorded charges totaling $1.6 million, within cost of sales, to establish an environmental accrual for investigative work related to a previously-owned manufacturing facility in the United States. In addition, the Company has recorded accruals for other lesser environmental matters at certain facilities located in the United States. These accruals generally relate to facilities where past operations followed practices and procedures that were considered acceptable under then-existing regulations, or where the Company is a successor to the obligations of prior owners, and current laws and regulations require investigative and/or remedial work to ensure sufficient environmental compliance. The accruals for these environmental matters totaled $5.1 million and $3.8 million at March 31, 2016 and 2015, respectively. As additional information becomes available, the Company will re-assess the liability related to these matters and revise the estimated accrual, if necessary. Based on currently available information, the Company believes the ultimate outcome of these matters, individually and in the aggregate, will not have a material adverse effect on its financial position. However, these matters are subject to inherent uncertainties, and unfavorable outcomes could occur, including significant monetary damages. During fiscal 2011, one of the adjacent businesses to the Company’s facility in Brazil filed suit against the Company’s subsidiary in Brazil (“Modine Brazil”), seeking remediation and certain other damages as a result of contamination allegedly attributable to its operations. The Company is defending this suit and believes that the ultimate outcome of this matter will not be material. Brazil antitrust investigation: Other litigation:

Accumulated Other Comprehensive

Accumulated Other Comprehensive Loss	12 Months Ended
	Mar. 31, 2016
Accumulated Other Comprehensive Loss [Abstract]
Accumulated Other Comprehensive Loss	Note 20: Accumulated Other Comprehensive Loss Changes in accumulated other comprehensive loss were as follows: Foreign Currency Translation Defined Benefit Plans Total Balance, March 31, 2015 $ (40.7 ) $ (157.9 ) $ (198.6 ) Other comprehensive loss before reclassifications 4.7 (16.6 ) (11.9 ) Reclassifications: Amortization of unrecognized net loss (a) - 48.3 48.3 Amortization of unrecognized prior service credit (a) - (0.2 ) (0.2 ) Income taxes - (11.8 ) (11.8 ) Total other comprehensive loss 4.7 19.7 24.4 Balance, March 31, 2016 $ (36.0 ) $ (138.2 ) $ (174.2 ) Foreign Currency Translation Defined Benefit Plans Total Balance, March 31, 2014 $ 27.3 $ (131.2 ) $ (103.9 ) Other comprehensive loss before reclassifications (68.0 ) (45.2 ) (113.2 ) Reclassifications: Amortization of unrecognized net loss (a) - 5.4 5.4 Amortization of unrecognized prior service credit (a) - (0.1 ) (0.1 ) Income taxes - 13.2 13.2 Total other comprehensive loss (68.0 ) (26.7 ) (94.7 ) Balance, March 31, 2015 $ (40.7 ) $ (157.9 ) $ (198.6 ) (a) Amounts are included in the calculation of net periodic benefit cost for the Company’s defined benefit plans, which include pension and other postretirement plans. See Note 17 for additional information about the Company’s pension plans.

Segment and Geographic Informat

Segment and Geographic Information	12 Months Ended
	Mar. 31, 2016
Segment and Geographic Information [Abstract]
Segment and Geographic Information	Note 21: Segment and Geographic Information The Company’s product lines consist of heat-transfer components and systems. The Company serves the vehicular, industrial, and building heating, ventilating and air conditioning markets. During fiscal 2016, the Company combined its North America and South America segments into the Americas segment to streamline operations, gain synergies and improve its cost structure. As a result, the Company recast the prior-period segment financial information to conform to the current-period presentation. There was no impact to the Company’s consolidated financial statements as a result. Throughout fiscal 2016, the Company’s four operating segments were as follows: Americas: Comprised of vehicular and industrial original equipment products in North America and South America, as well as aftermarket products in South America. Europe: Comprised of vehicular and industrial original equipment products in Europe. Asia: Comprised of vehicular and industrial original equipment products in Asia. Building HVAC: Comprised of building heating, ventilating and air conditioning products throughout the world. Each operating segment is managed by a vice president and has separate financial results reviewed by the Company’s chief operating decision maker. These results are used by management in evaluating the performance of each segment and in making decisions on the allocation of resources among the Company’s various businesses. The following is a summary of net sales, gross profit, and operating income by segment: Years ended March 31, Net sales: 2016 2015 2014 Americas $ 585.5 $ 666.9 $ 688.3 Europe 524.1 578.2 584.4 Asia 79.0 81.2 71.5 Building HVAC 181.4 186.3 146.5 Segment total 1,370.0 1,512.6 1,490.7 Corporate and eliminations (17.5 ) (16.2 ) (13.1 ) Net sales $ 1,352.5 $ 1,496.4 $ 1,477.6 Years ended March 31, 2016 2015 2014 Gross profit: $'s % of sales $'s % of sales $'s % of sales Americas $ 100.1 17.1 % $ 109.1 16.3 % $ 114.3 16.6 % Europe 68.1 13.0 % 68.7 11.9 % 70.8 12.1 % Asia 12.2 15.5 % 11.5 14.2 % 8.9 12.5 % Building HVAC 54.2 29.9 % 55.9 30.0 % 43.4 29.6 % Segment total 234.6 17.1 % 245.2 16.2 % 237.4 15.9 % Corporate and eliminations (a) (11.1 ) - 1.3 - 0.8 - Gross profit $ 223.5 16.5 % $ 246.5 16.5 % $ 238.2 16.1 % Years ended March 31, Operating income: 2016 2015 2014 Americas $ 36.2 $ 33.4 $ 49.6 Europe 13.3 25.7 9.6 Asia 0.8 0.3 (3.3 ) Building HVAC 13.9 19.1 9.4 Segment total 64.2 78.5 65.3 Corporate and eliminations (a) (71.7 ) (25.8 ) (28.1 ) Operating (loss) income $ (7.5 ) $ 52.7 $ 37.2 (a) During fiscal 2016, the Company recorded pension settlement losses of $42.1 million at Corporate, within SG&A expenses ($33.3 million) and cost of sales ($8.8 million). See Note 17 for additional information. Inter-segment sales are accounted for based on an established markup over production costs. Net sales for corporate and eliminations primarily represent the elimination of inter-segment sales. The operating loss for corporate includes certain research and development costs, legal, finance and other general corporate and central services expenses, and other costs that are either not directly attributable to an operating segment or not considered when management evaluates segment performance. The following is a summary of total assets by segment: March 31, 2016 2015 Americas $ 267.2 $ 277.7 Europe 301.9 282.7 Asia 104.0 92.2 Building HVAC (a) 99.0 131.3 Corporate and eliminations 148.8 147.0 Total assets $ 920.9 $ 930.9 (a) As of March 31, 2015, total assets within the Building HVAC segment included $48.0 million of insurance-related assets for the rebuild of the facility damaged by the Airedale fire. See Note 2 for additional information. The following is a summary of capital expenditures and depreciation and amortization expense by segment: Years ended March 31, Capital expenditures: 2016 2015 2014 Americas $ 26.7 $ 30.2 $ 24.6 Europe 24.8 21.5 22.9 Asia 6.2 3.8 4.6 Building HVAC 5.1 2.8 1.0 Total capital expenditures $ 62.8 $ 58.3 $ 53.1 Years ended March 31, Depreciation and amortization expense: 2016 2015 2014 Americas $ 22.1 $ 21.3 $ 22.6 Europe 18.0 19.8 26.6 Asia 6.5 7.2 6.7 Building HVAC 3.6 3.3 2.2 Total depreciation and amortization expense $ 50.2 $ 51.6 $ 58.1 The following is a summary of net sales by geographical area, based upon the location of the selling unit: Years ended March 31, 2016 2015 2014 United States $ 627.6 $ 669.3 $ 645.7 Germany 155.3 193.8 229.5 Hungary 145.9 161.0 150.3 Austria 113.1 118.7 109.8 Other 310.6 353.6 342.3 Net sales $ 1,352.5 $ 1,496.4 $ 1,477.6 The following is a summary of property, plant and equipment by geographical area: March 31, 2016 2015 United States $ 92.5 $ 92.7 Austria 44.2 41.5 China 33.6 31.8 Germany 32.1 47.2 Hungary 31.4 28.9 Other 104.8 80.0 Total property, plant and equipment $ 338.6 $ 322.1 The following is a summary of net sales by end market: Years ended March 31, 2016 2015 2014 Commercial vehicle $ 459.8 $ 512.5 $ 477.0 Automotive 396.8 401.8 395.6 Off-highway 206.2 274.6 320.8 Building HVAC 181.4 186.3 146.5 Other 108.3 121.2 137.7 Net sales $ 1,352.5 $ 1,496.4 $ 1,477.6

Quarterly Financial Data (Unaud

Quarterly Financial Data (Unaudited)	12 Months Ended
	Mar. 31, 2016
Quarterly Financial Data (Unaudited) [Abstract]
Quarterly Financial Data (Unaudited)	Note 22: Quarterly Financial Data (Unaudited) Quarterly financial data is summarized below for the years ended March 31, 2016 and 2015: Fiscal 2016 quarters ended June Sept . Dec. March Fiscal 2016 Net sales $ 346.1 $ 334.0 $ 328.7 $ 343.7 $ 1,352.5 Gross profit 57.0 45.7 58.6 62.2 223.5 Earnings (loss) from continuing operations (a) 5.5 (22.5 ) 8.2 7.8 (1.0 ) Net earnings (loss) attributable to Modine (a) 5.1 (22.5 ) 8.2 7.6 (1.6 ) Net earnings (loss) per share attributable to Modine shareholders: Basic $ 0.11 $ (0.47 ) $ 0.17 $ 0.16 $ (0.03 ) Diluted 0.11 (0.47 ) 0.17 0.16 (0.03 ) Fiscal 2015 quarters ended June Sept . Dec. March Fiscal 2015 Net sales $ 392.5 $ 377.3 $ 363.6 $ 363.0 $ 1,496.4 Gross profit 67.7 56.7 59.4 62.7 246.5 Earnings (loss) from continuing operations (b) 14.1 2.0 9.1 (3.0 ) 22.2 Net earnings (loss) attributable to Modine (b) 13.7 1.7 9.6 (3.2 ) 21.8 Net earnings (loss) per share attributable to Modine shareholders: Basic $ 0.29 $ 0.04 $ 0.20 $ (0.07 ) $ 0.46 Diluted 0.28 0.04 0.20 (0.07 ) 0.45 (a) During fiscal 2016, restructuring expenses totaled $2.6 million, $1.0 million, $1.6 million, and $11.4 million for the quarters ended June 30, 2015, September 30, 2015, December 31, 2015, and March 31, 2016, respectively (see Note 6). During the fourth quarter of fiscal 2016, the Company recorded a $9.9 million asset impairment charge related to a manufacturing facility in Germany (see Note 6). During fiscal 2016, non-cash pension settlement losses totaled $39.2 million, $1.1 million, and $1.8 million for the quarters ended September 30, 2015, December 31, 2015, and March 31, 2016, respectively (see Note 17). During the fourth quarter of fiscal 2016, the Company recorded a $9.5 million gain related to an insurance settlement for equipment losses resulting from the Airedale fire (see Note 2). Also during the fourth quarter of fiscal 2016, the Company reversed a deferred tax asset valuation allowance, and, as a result, recorded an income tax benefit of $3.0 million (see Note 8). (b) During fiscal 2015, restructuring expenses totaled $0.8 million, $1.0 million, $1.9 million, and $1.0 million for the quarters ended June 30, 2014, September 30, 2014, December 31, 2014, and March 31, 2015, respectively (see Note 6). During the third quarter of fiscal 2015, the Company sold a wind tunnel and recognized a gain of $3.2 million (see Note 6). During the fourth quarter of fiscal 2015, the Company recorded a $7.8 million goodwill impairment charge (see Note 14) and a $3.2 million charge associated with a legal matter in Brazil (see Note 19).

SCHEDULE II - VALUATION AND QUA

SCHEDULE II - VALUATION AND QUALIFYING ACCOUNTS	12 Months Ended
	Mar. 31, 2016
SCHEDULE II - VALUATION AND QUALIFYING ACCOUNTS [Abstract]
SCHEDULE II - VALUATION AND QUALIFYING ACCOUNTS	SCHEDULE II ‑ VALUATION AND QUALIFYING ACCOUNTS For the years ended March 31, 2016, 2015 and 2014 (In millions) Additions Description Balance at Beginning of Period Charged (Benefit) to Costs and Expenses Charged to Other Accounts Balance at End of Period 2016: Valuation Allowance for Deferred Tax Assets $ 48.0 $ 1.5 $ 1.3 (a) $ 50.8 2015: Valuation Allowance for Deferred Tax Assets $ 61.2 $ (6.8 ) $ (6.4 ) (a) $ 48.0 2014: Valuation Allowance for Deferred Tax Assets $ 172.8 $ (113.1 ) $ 1.5 (a) $ 61.2 Notes: (a) Foreign currency translation and other adjustments

Significant Accounting Polici32

Significant Accounting Policies (Policies)	12 Months Ended
	Mar. 31, 2016
Significant Accounting Policies [Abstract]
Basis of presentation	Basis of presentation:
Consolidation principles	Consolidation principles: The Company accounts for investments in non-consolidated affiliated companies in which its ownership is 20 percent or more using the equity method. The Company states these investments at cost, plus or minus a proportionate share of undistributed net income (loss). The Company includes Modine’s share of the affiliate’s net income in other income and expense. See Note 12 for additional information.
Discontinued operations	Discontinued operations:
Assets held for sale	Assets held for sale:
Revenue recognition	Revenue recognition:
Tooling costs	Tooling costs:
Warranty	Warranty:
Shipping and handling costs	Shipping and handling costs:
Research and development	Research and development:
Translation of foreign currencies	Translation of foreign currencies:
Derivative instruments	Derivative instruments:
Income taxes	Income taxes:
Earnings per share	Earnings per share:
Cash and cash equivalents	Cash and cash equivalents:
Short-term investments	Short-term investments:
Deferred compensation trust	Deferred compensation trust:
Trade accounts receivable	Trade accounts receivable:
Inventories	Inventories:
Property, plant and equipment	Property, plant and equipment
Goodwill	Goodwill:
Impairment of long-lived assets	Impairment of long-lived assets:
Environmental liabilities	Environmental liabilities:
Self-insurance reserves	Self-insurance reserves:
Stock-based compensation	Stock-based compensation:
New accounting guidance	New accounting guidance: In February 2016, the FASB issued new comprehensive lease accounting guidance that supersedes existing lease accounting guidance. Upon adoption of this new guidance, the Company will be required to recognize most leases on its balance sheet. This guidance is effective for the Company’s first quarter of fiscal 2020. The Company is currently evaluating the impact this guidance will have on its consolidated financial statements. In November 2015, the FASB issued new guidance, as part of its simplification initiative, that requires all deferred tax assets and liabilities to be classified as noncurrent on the balance sheet. The Company adopted this guidance, on a retrospective basis, for its fiscal year ending March 31, 2016. As a result, the Company reclassified approximately $13.0 million of deferred tax assets from current assets to noncurrent assets as of March 31, 2015 to conform to the current-period presentation. In May 2014, the FASB issued new guidance that outlines a comprehensive model for entities to use in accounting for revenue arising from contracts with customers. The core principle of the new guidance is that companies are to recognize revenue to depict the transfer of goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The new guidance also includes a cohesive set of disclosure requirements intended to provide users of financial statements with comprehensive information about revenue arising from contracts with customers. This new guidance is effective for the Company’s first quarter of fiscal 2019. The Company is currently evaluating the impact this guidance will have on its consolidated financial statements. Supplemental cash flow information: Years ended March 31, 2016 2015 2014 Interest paid $ 10.7 $ 10.3 $ 12.6 Income taxes paid 10.1 15.9 11.4

Significant Accounting Polici33

Significant Accounting Policies (Tables)	12 Months Ended
	Mar. 31, 2016
Significant Accounting Policies [Abstract]
Supplemental cash flow information	Supplemental cash flow information: Years ended March 31, 2016 2015 2014 Interest paid $ 10.7 $ 10.3 $ 12.6 Income taxes paid 10.1 15.9 11.4

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	12 Months Ended
	Mar. 31, 2016
Fair Value Measurements [Abstract]
Schedule of U.S. pension plan assets fair value	Plan assets related to the Company’s pension plans were classified as follows: March 31, 2016 Level 1 Level 2 Total Money market investments $ - $ 5.8 $ 5.8 Common stocks 23.7 1.3 25.0 Corporate bonds - 8.4 8.4 Pooled equity funds 48.7 7.3 56.0 Pooled fixed-income funds 26.3 - 26.3 U.S. government and agency securities - 18.4 18.4 Other 0.4 1.2 1.6 Total $ 99.1 $ 42.4 $ 141.5 March 31, 2015 Level 1 Level 2 Total Money market investments $ - $ 8.1 $ 8.1 Common stocks 40.5 2.2 42.7 Corporate bonds - 23.5 23.5 Pooled equity funds 69.0 11.4 80.4 Pooled fixed-income funds 15.5 - 15.5 U.S. government and agency securities - 39.8 39.8 Other 0.7 6.3 7.0 Total $ 125.7 $ 91.3 $ 217.0

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	12 Months Ended
	Mar. 31, 2016
Stock-Based Compensation [Abstract]
Assumptions used in determining fair value of options	The Company estimated the fair value of option awards on the date of grant using the Black-Scholes option valuation model and the following assumptions: 2016 2015 2014 Weighted-average fair value of options $ 7.11 $ 10.21 $ 7.76 Expected life of awards in years 6.3 6.3 6.3 Risk-free interest rate 1.9 % 2.1 % 1.3 % Expected volatility of the Company's stock 66.9 % 76.1 % 88.7 % Expected dividend yield on the Company's stock 0.0 % 0.0 % 0.0 %
Summary of the stock option activity	A summary of stock option activity for fiscal 2016 was as follows: Shares Weighted-average exercise price Weighted-average remaining contractual term (years) Aggregate intrinsic value Outstanding, beginning 1.5 $ 11.99 Granted 0.2 11.39 Exercised (0.1 ) 5.82 Forfeited or expired (0.1 ) 27.33 Outstanding, ending 1.5 $ 10.82 5.3 $ 3.0 Exercisable, March 31, 2016 1.1 $ 10.41 4.3 $ 3.0
Information related to stock options exercised	Additional information related to stock options exercised during fiscal 2016, 2015, and 2014 was as follows: 2016 2015 2014 Intrinsic value of stock options exercised $ 0.4 $ 0.4 $ 1.1 Proceeds from stock options exercised $ 0.5 $ 0.6 $ 1.1
Summary of the restricted stock activity	A summary of restricted stock activity for fiscal 2016 was as follows: Shares Weighted- average price Non-vested balance, beginning 0.7 $ 10.68 Granted 0.3 11.18 Vested (0.4 ) 10.01 Non-vested balance, ending 0.6 $ 11.29

Restructuring Activities (Table

Restructuring Activities (Tables)	12 Months Ended
	Mar. 31, 2016
Restructuring and Impairment Charges [Abstract]
Restructuring and repositioning expenses	Restructuring and repositioning expenses were as follows: Years ended March 31, 2016 2015 2014 Employee severance and related benefits $ 12.8 $ 1.2 $ 14.8 Accelerated depreciation - - 4.3 Other restructuring and repositioning expenses 3.8 3.5 1.3 Total $ 16.6 $ 4.7 $ 20.4
Changes in accrued severance	Changes in accrued severance were as follows: Years ended March 31, 2016 2015 Beginning balance $ 9.9 $ 19.4 Additions 12.8 1.2 Payments (8.5 ) (7.3 ) Effect of exchange rate changes 0.5 (3.4 ) Ending balance $ 14.7 $ 9.9

Other Income and Expense (Table

Other Income and Expense (Tables)	12 Months Ended
	Mar. 31, 2016
Other Income and Expense [Abstract]
Other income and expense	Other income and expense consisted of the following: Years ended March 31, 2016 2015 2014 Equity in earnings of non-consolidated affiliate $ 0.1 $ 0.6 $ 0.7 Interest income 0.4 0.5 0.5 Foreign currency transactions (a) (1.3 ) (0.9 ) (2.0 ) Gain from insurance recovery (b) 9.5 - - Total other income (expense) - net $ 8.7 $ 0.2 $ (0.8 ) (a) Foreign currency transactions primarily consist of foreign currency transaction gains and losses on the re-measurement or settlement of foreign currency-denominated assets and liabilities, including intercompany loans and transactions denominated in a foreign currency, along with gains and losses on foreign currency exchange contracts. (b) During fiscal 2016, the Company settled an insurance claim related to machinery and equipment destroyed in a fire at its Airedale facility and recorded a gain of $9.5 million. See Note 2 for additional information.

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Mar. 31, 2016
Income Taxes [Abstract]
Schedule of components of earnings (loss) from continuing operations before income taxes	The U.S. and foreign components of earnings from continuing operations before income taxes and the provision or benefit for income taxes consisted of the following: Years ended March 31, 2016 2015 2014 Components of (loss) earnings from continuing operations before income taxes: United States $ (15.4 ) $ 31.1 $ 14.1 Foreign 5.5 10.1 9.9 Total (loss) earnings from continuing operations before income taxes $ (9.9 ) $ 41.2 $ 24.0 Income tax (benefit) expense: Federal: Current $ 0.1 $ 0.4 $ (2.0 ) Deferred (13.0 ) 7.1 (95.8 ) State: Current 0.2 - 0.2 Deferred (2.5 ) 1.1 (21.4 ) Foreign: Current 9.6 12.7 10.0 Deferred (3.3 ) (2.3 ) 1.1 Total income tax (benefit) expense $ (8.9 ) $ 19.0 $ (107.9 )
Reconciliation of the federal statutory income tax rate to the company's effective income tax rate	Income tax expense attributable to earnings from continuing operations before income taxes differed from the amounts computed by applying the statutory U.S. federal income tax rate as a result of the following: Years ended March 31, 2016 2015 2014 Statutory federal tax 35.0 % 35.0 % 35.0 % State taxes, net of federal benefit 11.5 2.4 2.1 Taxes on non-U.S. earnings and losses 26.4 (4.9 ) (3.8 ) Valuation allowance (20.9 ) 8.3 (471.7 ) Tax credits 20.5 (6.1 ) (7.1 ) Compensation (3.7 ) 1.0 0.4 Tax rate or law changes 1.3 1.2 (9.2 ) Uncertain tax positions, net of settlements (4.3 ) 2.2 0.4 Dividend repatriation 16.0 2.4 5.8 Other 8.1 4.6 (1.5 ) Effective tax rate 89.9 % 46.1 % (449.6 %)
Schedule of deferred tax assets and deferred tax liabilities	The tax effects of temporary differences that gave rise to deferred tax assets and liabilities were as follows: March 31, 2016 2015 Deferred tax assets: Accounts receivable $ 0.1 $ 0.3 Inventories 3.6 3.8 Plant and equipment 4.3 0.8 Pension and employee benefits 52.6 50.5 Net operating loss, capital loss, and credit carryforwards 109.4 105.0 Other, principally accrued liabilities 6.9 6.8 Total gross deferred tax assets 176.9 167.2 Less: valuation allowance (50.8 ) (48.0 ) Net deferred tax assets 126.1 119.2 Deferred tax liabilities: Plant and equipment 5.5 5.3 Goodwill 0.6 0.6 Other 1.1 1.0 Total gross deferred tax liabilities 7.2 6.9 Net deferred tax asset $ 118.9 $ 112.3
Reconciliation of unrecognized tax benefits	Unrecognized tax benefits were as follows: Years ended March 31, 2016 2015 Beginning balance $ 5.6 $ 2.1 Gross increases - tax positions in prior period - 3.1 Gross decreases - tax positions in prior period (0.1 ) - Gross increases - tax positions in current period 0.4 0.4 Ending balance $ 5.9 $ 5.6
Schedule of tax years subject to examination by the respective major tax jurisdictions	The following tax years remain subject to examination for the Company’s major tax jurisdictions: Austria Fiscal 2012 - 2015 Brazil Calendar 2011 - 2015 Germany Fiscal 2012 - 2015 United States Fiscal 2013 - 2015

Earnings Per Share (Tables)

Earnings Per Share (Tables)	12 Months Ended
	Mar. 31, 2016
Earnings Per Share [Abstract]
Components of basic and diluted earnings per share	The components of basic and diluted earnings per share were as follows: Years ended March 31, 2016 2015 2014 Basic: (Loss) earnings from continuing operations $ (1.0 ) $ 22.2 $ 131.9 Less: Net earnings attributable to noncontrolling interest (0.6 ) (1.0 ) (1.5 ) Less: Undistributed earnings attributable to unvested shares - (0.2 ) (1.7 ) (Loss) earnings from continuing operations available to Modine shareholders (1.6 ) 21.0 128.7 Earnings from discontinued operations, net of income taxes - 0.6 - Net (loss) earnings available to Modine shareholders $ (1.6 ) $ 21.6 $ 128.7 Weighted-average shares outstanding - basic 47.3 47.2 46.9 Basic Earnings Per Share: (Loss) earnings per share - continuing operations $ (0.03 ) $ 0.45 $ 2.75 Earnings per share - discontinued operations - 0.01 - Net (loss) earnings per share - basic $ (0.03 ) $ 0.46 $ 2.75 Diluted: (Loss) earnings from continuing operations $ (1.0 ) $ 22.2 $ 131.9 Less: Net earnings attributable to noncontrolling interest (0.6 ) (1.0 ) (1.5 ) Less: Undistributed earnings attributable to unvested shares - (0.2 ) (0.9 ) (Loss) earnings from continuing operations available to Modine shareholders (1.6 ) 21.0 129.5 Earnings from discontinued operations, net of income taxes - 0.6 - Net (loss) earnings available to Modine shareholders $ (1.6 ) $ 21.6 $ 129.5 Weighted-average shares outstanding - basic 47.3 47.2 46.9 Effect of dilutive securities - 0.6 0.7 Weighted-average shares outstanding - diluted 47.3 47.8 47.6 Diluted Earnings Per Share: (Loss) earnings per share - continuing operations $ (0.03 ) $ 0.44 $ 2.72 Earnings per share - discontinued operations - 0.01 - Net (loss) earnings per share - diluted $ (0.03 ) $ 0.45 $ 2.72

Inventories (Tables)

Inventories (Tables)	12 Months Ended
	Mar. 31, 2016
Inventories [Abstract]
Inventories	Inventories consisted of the following: March 31, 2016 2015 Raw materials and work in process $ 79.5 $ 80.7 Finished goods 31.5 27.0 Total inventories $ 111.0 $ 107.7

Property, Plant and Equipment (

Property, Plant and Equipment (Tables)	12 Months Ended
	Mar. 31, 2016
Property, Plant and Equipment [Abstract]
Property, plant and equipment	Property, plant and equipment, including depreciable lives, consisted of the following: March 31, 2016 2015 Land $ 7.2 $ 8.2 Buildings and improvements (10-40 years) 221.3 221.0 Machinery and equipment (3-12 years) 694.3 652.0 Office equipment (3-10 years) 84.1 81.9 Construction in progress 36.7 31.7 1,043.6 994.8 Less: accumulated depreciation (705.0 ) (672.7 ) Net property, plant and equipment $ 338.6 $ 322.1

Intangible Assets (Tables)

Intangible Assets (Tables)	12 Months Ended
	Mar. 31, 2016
Intangible Assets [Abstract]
Schedule of intangible assets	Intangible assets consisted of the following: March 31, 2016 March 31, 2015 Gross Carrying Value Accumulated Amortization Net Intangible Assets Gross Carrying Value Accumulated Amortization Net Intangible Assets Trade names $ 8.9 $ (6.3 ) $ 2.6 $ 9.1 $ (5.8 ) $ 3.3 Acquired technology 5.5 (1.5 ) 4.0 5.6 (0.9 ) 4.7 Customer relationships 2.0 (0.4 ) 1.6 2.1 (0.2 ) 1.9 Total intangible assets $ 16.4 $ (8.2 ) $ 8.2 $ 16.8 $ (6.9 ) $ 9.9
Total estimated annual amortization expense	Estimated future amortization expense is as follows: Fiscal Year Estimated Amortization Expense 2017 $ 1.6 2018 1.6 2019 1.5 2020 1.3 2021 0.8 2022 & Beyond 1.4

Goodwill (Tables)

Goodwill (Tables)	12 Months Ended
	Mar. 31, 2016
Goodwill [Abstract]
Schedule of changes in the carrying amount of goodwill	Changes in the carrying amount of goodwill, by segment and in the aggregate, were as follows: Americas Asia Building HVAC Total Balance, March 31, 2014 $ 10.9 $ 0.5 $ 17.3 $ 28.7 Impairment charge (7.8 ) - - (7.8 ) Effect of exchange rate changes (3.1 ) - (1.6 ) (4.7 ) Balance, March 31, 2015 - 0.5 15.7 16.2 Effect of exchange rate changes - - (0.4 ) (0.4 ) Balance, March 31, 2016 $ - $ 0.5 $ 15.3 $ 15.8

Product Warranties, Operating44

Product Warranties, Operating Leases and Other Commitments (Tables)	12 Months Ended
	Mar. 31, 2016
Product Warranties, Operating Leases and Other Commitments [Abstract]
Changes in accrued warranty costs	Changes in accrued warranty costs were as follows: Years ended March 31, 2016 2015 Beginning balance $ 10.4 $ 14.0 Warranties recorded at time of sale 5.7 5.8 Adjustments to pre-existing warranties (1.1 ) 1.5 Settlements (6.7 ) (9.2 ) Effect of exchange rate changes - (1.7 ) Ending balance $ 8.3 $ 10.4
Schedule of future minimum rental commitments under non-cancelable operating leases	Future minimum rental commitments at March 31, 2016 under non-cancelable operating leases were as follows: Fiscal Year 2017 $ 8.1 2018 5.6 2019 4.8 2020 4.6 2021 4.1 2022 and beyond 26.3 Total $ 53.5

Indebtedness (Tables)

Indebtedness (Tables)	12 Months Ended
	Mar. 31, 2016
Indebtedness [Abstract]
Schedule of long-term indebtedness	Long-term debt was comprised of the following: Fiscal year of maturity March 31, 2016 March 31, 2015 Foreign credit agreements 2018-2020 $ 0.4 $ 0.2 6.8% Senior Notes 2017-2021 125.0 125.0 Revolving credit facility 2019 - - 125.4 125.2 Other (a) 2017-2030 8.6 4.9 134.0 130.1 Less: current portion (8.5 ) (0.5 ) Total long-term debt $ 125.5 $ 129.6 (a) Other long-term debt includes capital lease obligations and other financing-type obligations.
Maturities of long term debt and capital lease obligations	Long-term debt matures as follows: Fiscal Year 2017 $ 8.5 2018 16.5 2019 16.5 2020 16.6 2021 69.4 2022 & beyond 6.5 Total $ 134.0

Pension and Employee Benefit 46

Pension and Employee Benefit Plans (Tables)	12 Months Ended
	Mar. 31, 2016
Pension and Employee Benefit Plans [Abstract]
Change in benefit obligations and plan assets as well as the funded status	Changes in benefit obligations and plan assets, as well as the funded status of the Company’s pension plans, for the fiscal years ended March 31, 2016 and 2015 were as follows: 2016 2015 Change in benefit obligation: Benefit obligation at beginning of year $ 328.2 $ 295.7 Service cost 0.6 0.5 Interest cost 11.2 13.0 Actuarial (gain) loss (2.8 ) 40.6 Benefits paid (a) (78.1 ) (14.6 ) Effect of exchange rate changes 1.9 (7.0 ) Benefit obligation at end of year $ 261.0 $ 328.2 Change in plan assets: Fair value of plan assets at beginning of year $ 217.0 $ 213.7 Actual return on plan assets (5.3 ) 10.8 Benefits paid (a) (78.1 ) (14.6 ) Employer contributions 7.9 7.1 Fair value of plan assets at end of year $ 141.5 $ 217.0 Funded status at end of year $ (119.5 ) $ (111.2 ) Amounts recognized in the consolidated balance sheets: Current liability $ (0.9 ) $ (0.8 ) Noncurrent liability (118.6 ) (110.4 ) $ (119.5 ) $ (111.2 ) (a) In fiscal 2016, $65.3 million was paid from plan assets in connection with lump-sum payouts.
Pension benefit plans	Costs for the Company’s pension plans included the following components for the fiscal years ended March 31, 2016, 2015, and 2014: 2016 2015 2014 Components of net periodic benefit cost: Service cost $ 0.6 $ 0.5 $ 0.6 Interest cost 11.2 13.0 13.0 Expected return on plan assets (14.9 ) (16.7 ) (15.7 ) Amortization of net actuarial loss 6.4 5.5 6.3 Settlements (a) 42.1 - - Net periodic benefit cost $ 45.4 $ 2.3 $ 4.2 Other changes in benefit obligation recognized in other comprehensive loss (income): Net actuarial loss (gain) $ 17.5 $ 46.4 $ (17.3 ) Amortization of net actuarial loss (a) (48.5 ) (5.5 ) (6.3 ) Total recognized in other comprehensive (income) loss $ (31.0 ) $ 40.9 $ (23.6 ) (a) During fiscal 2016, in connection with lump-sum payouts to pension plan participants, the Company recorded $42.1 million of settlement losses, which were previously recorded in accumulated other comprehensive loss.
Target and plan asset allocations	The Company’s U.S. pension plan weighted-average asset allocations at the measurement dates of March 31, 2016 and 2015 were as follows: Target allocation Plan assets 2016 2015 Equity securities 55 % 56 % 55 % Debt securities 38 % 36 % 36 % Alternative assets 5 % 4 % 5 % Cash 2 % 4 % 4 % 100 % 100 % 100 %
Estimated future benefit payments	Estimated pension benefit payments for the next ten fiscal years are as follows: Fiscal Year Estimated Pension Benefit Payments 2017 $ 14.5 2018 15.2 2019 15.3 2020 15.8 2021 16.1 2022-2026 79.3

Derivative Instruments (Tables)

Derivative Instruments (Tables)	12 Months Ended
	Mar. 31, 2016
Derivative Instruments [Abstract]
Fair value of derivative financial instruments recorded in the consolidated balance sheets	The fair value of the Company’s derivative financial instruments recorded in the consolidated balance sheets were as follows: Balance Sheet Location March 31, 2016 March 31, 2015 Foreign exchange contracts Other current assets $ 0.1 $ - Foreign exchange contracts Other current liabilities - 0.3 Commodity derivatives Other current liabilities 0.1 0.1
Amounts recorded in AOCI and in consolidated statement of operations	The amounts recorded in the consolidated statements of operations for the Company’s derivative financial instruments were as follows: Statement of Operations Years ended March 31, Location 2016 2015 2014 Commodity derivatives Cost of sales $ (0.7 ) $ (0.2 ) $ (0.5 ) Foreign exchange contracts Other income (expense) - net 0.6 (1.1 ) - Total loss $ (0.1 ) $ (1.3 ) $ (0.5 )

Accumulated Other Comprehensi48

Accumulated Other Comprehensive Loss (Tables)	12 Months Ended
	Mar. 31, 2016
Accumulated Other Comprehensive Loss [Abstract]
Components of accumulated other comprehensive loss	Changes in accumulated other comprehensive loss were as follows: Foreign Currency Translation Defined Benefit Plans Total Balance, March 31, 2015 $ (40.7 ) $ (157.9 ) $ (198.6 ) Other comprehensive loss before reclassifications 4.7 (16.6 ) (11.9 ) Reclassifications: Amortization of unrecognized net loss (a) - 48.3 48.3 Amortization of unrecognized prior service credit (a) - (0.2 ) (0.2 ) Income taxes - (11.8 ) (11.8 ) Total other comprehensive loss 4.7 19.7 24.4 Balance, March 31, 2016 $ (36.0 ) $ (138.2 ) $ (174.2 ) Foreign Currency Translation Defined Benefit Plans Total Balance, March 31, 2014 $ 27.3 $ (131.2 ) $ (103.9 ) Other comprehensive loss before reclassifications (68.0 ) (45.2 ) (113.2 ) Reclassifications: Amortization of unrecognized net loss (a) - 5.4 5.4 Amortization of unrecognized prior service credit (a) - (0.1 ) (0.1 ) Income taxes - 13.2 13.2 Total other comprehensive loss (68.0 ) (26.7 ) (94.7 ) Balance, March 31, 2015 $ (40.7 ) $ (157.9 ) $ (198.6 ) (a) Amounts are included in the calculation of net periodic benefit cost for the Company’s defined benefit plans, which include pension and other postretirement plans. See Note 17 for additional information about the Company’s pension plans.

Segment and Geographic Inform49

Segment and Geographic Information (Tables)	12 Months Ended
	Mar. 31, 2016
Segment and Geographic Information [Abstract]
Net sales, gross profit, operating income and total assets by segment	The following is a summary of net sales, gross profit, and operating income by segment: Years ended March 31, Net sales: 2016 2015 2014 Americas $ 585.5 $ 666.9 $ 688.3 Europe 524.1 578.2 584.4 Asia 79.0 81.2 71.5 Building HVAC 181.4 186.3 146.5 Segment total 1,370.0 1,512.6 1,490.7 Corporate and eliminations (17.5 ) (16.2 ) (13.1 ) Net sales $ 1,352.5 $ 1,496.4 $ 1,477.6 Years ended March 31, 2016 2015 2014 Gross profit: $'s % of sales $'s % of sales $'s % of sales Americas $ 100.1 17.1 % $ 109.1 16.3 % $ 114.3 16.6 % Europe 68.1 13.0 % 68.7 11.9 % 70.8 12.1 % Asia 12.2 15.5 % 11.5 14.2 % 8.9 12.5 % Building HVAC 54.2 29.9 % 55.9 30.0 % 43.4 29.6 % Segment total 234.6 17.1 % 245.2 16.2 % 237.4 15.9 % Corporate and eliminations (a) (11.1 ) - 1.3 - 0.8 - Gross profit $ 223.5 16.5 % $ 246.5 16.5 % $ 238.2 16.1 % Years ended March 31, Operating income: 2016 2015 2014 Americas $ 36.2 $ 33.4 $ 49.6 Europe 13.3 25.7 9.6 Asia 0.8 0.3 (3.3 ) Building HVAC 13.9 19.1 9.4 Segment total 64.2 78.5 65.3 Corporate and eliminations (a) (71.7 ) (25.8 ) (28.1 ) Operating (loss) income $ (7.5 ) $ 52.7 $ 37.2 (a) During fiscal 2016, the Company recorded pension settlement losses of $42.1 million at Corporate, within SG&A expenses ($33.3 million) and cost of sales ($8.8 million). See Note 17 for additional information. The following is a summary of total assets by segment: March 31, 2016 2015 Americas $ 267.2 $ 277.7 Europe 301.9 282.7 Asia 104.0 92.2 Building HVAC (a) 99.0 131.3 Corporate and eliminations 148.8 147.0 Total assets $ 920.9 $ 930.9 (a) As of March 31, 2015, total assets within the Building HVAC segment included $48.0 million of insurance-related assets for the rebuild of the facility damaged by the Airedale fire. See Note 2 for additional information.
Summary of capital expenditures and depreciation and amortization expense by segment	The following is a summary of capital expenditures and depreciation and amortization expense by segment: Years ended March 31, Capital expenditures: 2016 2015 2014 Americas $ 26.7 $ 30.2 $ 24.6 Europe 24.8 21.5 22.9 Asia 6.2 3.8 4.6 Building HVAC 5.1 2.8 1.0 Total capital expenditures $ 62.8 $ 58.3 $ 53.1 Years ended March 31, Depreciation and amortization expense: 2016 2015 2014 Americas $ 22.1 $ 21.3 $ 22.6 Europe 18.0 19.8 26.6 Asia 6.5 7.2 6.7 Building HVAC 3.6 3.3 2.2 Total depreciation and amortization expense $ 50.2 $ 51.6 $ 58.1
Summary of net sales and long-lived assets by geographical area	The following is a summary of net sales by geographical area, based upon the location of the selling unit: Years ended March 31, 2016 2015 2014 United States $ 627.6 $ 669.3 $ 645.7 Germany 155.3 193.8 229.5 Hungary 145.9 161.0 150.3 Austria 113.1 118.7 109.8 Other 310.6 353.6 342.3 Net sales $ 1,352.5 $ 1,496.4 $ 1,477.6
Summary of property, plant and equipment by geographical area	The following is a summary of property, plant and equipment by geographical area: March 31, 2016 2015 United States $ 92.5 $ 92.7 Austria 44.2 41.5 China 33.6 31.8 Germany 32.1 47.2 Hungary 31.4 28.9 Other 104.8 80.0 Total property, plant and equipment $ 338.6 $ 322.1
Summary of net sales by end market	The following is a summary of net sales by end market: Years ended March 31, 2016 2015 2014 Commercial vehicle $ 459.8 $ 512.5 $ 477.0 Automotive 396.8 401.8 395.6 Off-highway 206.2 274.6 320.8 Building HVAC 181.4 186.3 146.5 Other 108.3 121.2 137.7 Net sales $ 1,352.5 $ 1,496.4 $ 1,477.6

Quarterly Financial Data (Una50

Quarterly Financial Data (Unaudited) (Tables)	12 Months Ended
	Mar. 31, 2016
Quarterly Financial Data (Unaudited) [Abstract]
Summary of quarterly financial data	Quarterly financial data is summarized below for the years ended March 31, 2016 and 2015: Fiscal 2016 quarters ended June Sept . Dec. March Fiscal 2016 Net sales $ 346.1 $ 334.0 $ 328.7 $ 343.7 $ 1,352.5 Gross profit 57.0 45.7 58.6 62.2 223.5 Earnings (loss) from continuing operations (a) 5.5 (22.5 ) 8.2 7.8 (1.0 ) Net earnings (loss) attributable to Modine (a) 5.1 (22.5 ) 8.2 7.6 (1.6 ) Net earnings (loss) per share attributable to Modine shareholders: Basic $ 0.11 $ (0.47 ) $ 0.17 $ 0.16 $ (0.03 ) Diluted 0.11 (0.47 ) 0.17 0.16 (0.03 ) Fiscal 2015 quarters ended June Sept . Dec. March Fiscal 2015 Net sales $ 392.5 $ 377.3 $ 363.6 $ 363.0 $ 1,496.4 Gross profit 67.7 56.7 59.4 62.7 246.5 Earnings (loss) from continuing operations (b) 14.1 2.0 9.1 (3.0 ) 22.2 Net earnings (loss) attributable to Modine (b) 13.7 1.7 9.6 (3.2 ) 21.8 Net earnings (loss) per share attributable to Modine shareholders: Basic $ 0.29 $ 0.04 $ 0.20 $ (0.07 ) $ 0.46 Diluted 0.28 0.04 0.20 (0.07 ) 0.45 (a) During fiscal 2016, restructuring expenses totaled $2.6 million, $1.0 million, $1.6 million, and $11.4 million for the quarters ended June 30, 2015, September 30, 2015, December 31, 2015, and March 31, 2016, respectively (see Note 6). During the fourth quarter of fiscal 2016, the Company recorded a $9.9 million asset impairment charge related to a manufacturing facility in Germany (see Note 6). During fiscal 2016, non-cash pension settlement losses totaled $39.2 million, $1.1 million, and $1.8 million for the quarters ended September 30, 2015, December 31, 2015, and March 31, 2016, respectively (see Note 17). During the fourth quarter of fiscal 2016, the Company recorded a $9.5 million gain related to an insurance settlement for equipment losses resulting from the Airedale fire (see Note 2). Also during the fourth quarter of fiscal 2016, the Company reversed a deferred tax asset valuation allowance, and, as a result, recorded an income tax benefit of $3.0 million (see Note 8). (b) During fiscal 2015, restructuring expenses totaled $0.8 million, $1.0 million, $1.9 million, and $1.0 million for the quarters ended June 30, 2014, September 30, 2014, December 31, 2014, and March 31, 2015, respectively (see Note 6). During the third quarter of fiscal 2015, the Company sold a wind tunnel and recognized a gain of $3.2 million (see Note 6). During the fourth quarter of fiscal 2015, the Company recorded a $7.8 million goodwill impairment charge (see Note 14) and a $3.2 million charge associated with a legal matter in Brazil (see Note 19).

Significant Accounting Polici51

Significant Accounting Policies (Details) - USD ($) $ in Millions	12 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Mar. 31, 2014
Consolidation principles [Abstract]
Investments in non-consolidated affiliated companies	20.00%
Shipping and handling costs [Abstract]
Shipping and handling costs	$ 2.5	$ 4.9	$ 4
Research and development [Abstract]
Research and development cost	61.1	62	61.7
Short-term investments [Abstract]
Short-term investments	3.3	2.8
Trade accounts receivable [Abstract]
Trade receivables, allowance for doubtful accounts	0.5	1
Trade receivables sold without recourse	71.3	87	82.4
Loss on the sale of accounts receivables	(0.3)	(0.3)	(0.3)
Goodwill impaired [Abstract]
Goodwill impairment charges		(7.8)
New accounting guidance [Abstract]
Deferred income taxes	123.1	115.4
Supplemental cash flow information [Abstract]
Interest paid	10.7	10.3	12.6
Income taxes paid	$ 10.1	15.9	$ 11.4
Tools [Member]
Tooling [Abstract]
Property, plant and equipment, depreciable lives	3 years
Company-owned tooling, net	$ 18.8	18.7
Customer owned tooling receivable	$ 8.5	11.6
New Accounting Pronouncement, Early Adoption, Effect [Member]
New accounting guidance [Abstract]
Deferred income taxes		13
Electronics Cooling Business [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Final payment on promissory note		1.5
Gain on sale (Pre-tax)		0.9
Gain on sale (After-tax)		$ 0.6

Airedale Facility Fire (Details

Airedale Facility Fire (Details) - USD ($) $ in Millions	3 Months Ended	12 Months Ended						31 Months Ended
	Mar. 31, 2016	Mar. 31, 2016		Mar. 31, 2015		Mar. 31, 2014	[1]	Mar. 31, 2016
Unusual or Infrequent Item [Line Items]
Gain (loss) on insurance settlement	$ 9.5	$ 9.5	[1]	$ 0	[1]	$ 0
Loss by Fire [Member]
Unusual or Infrequent Item [Line Items]
Cash proceeds received from insurance provider								$ 96
Gain (loss) on insurance settlement		$ 9.5
Recoveries from insurance included in selling, general, and administrative expenses				4.6
Current liability to rebuild damaged facility				48
Insurance receivable				$ 39.2
[1]	During fiscal 2016, the Company settled an insurance claim related to machinery and equipment destroyed in a fire at its Airedale facility and recorded a gain of $9.5 million. See Note 2 for additional information.

Acquisitions (Details)

Acquisitions (Details) - USD ($) $ in Millions	Jan. 29, 2016	Feb. 28, 2014	Mar. 31, 2016	Mar. 31, 2015	Mar. 31, 2014
Business Acquisition [Line Items]
Cash consideration, net of cash acquired			$ 1.4	$ 0	$ 7.8
Modine Puxin Thermal System (Jiangsu) Co. Ltd. [Member]
Business Acquisition [Line Items]
Ownership percentage by parent	67.00%
Cash consideration, net of cash acquired	$ 1.4
Additional cash consideration amount	0.5
Purchase price allocation resulted in acquired equipment and other assets	2.3
Purchase price allocation resulted in property, plant and equipment/acquired equipment and other long-lived assets	1.5
Purchase price allocation, working capital net assets	$ 0.8
Jiangsu Puxin Heat Exchange System Co., Ltd [Member]
Business Acquisition [Line Items]
Ownership percentage	33.00%
Barkell Limited of Consett, United Kingdom [Member]
Business Acquisition [Line Items]
Percentage of interests acquired		100.00%
Cash consideration, net of cash acquired		$ 7.8
Purchase price allocation resulted in acquired intangible assets		4.7
Purchase price allocation resulted in property, plant and equipment/acquired equipment and other long-lived assets		2
Purchase price allocation, working capital net assets		$ 1.1
Intangible assets, amortization period		10 years

Fair Value Measurements (Detail

Fair Value Measurements (Details) - USD ($) $ in Millions	Mar. 31, 2016	Mar. 31, 2015
Deferred Compensation Liability [Abstract]
Deferred compensation obligations	$ 3.2	$ 3
Trading securities	3.2	3
Assets Held For Sale [Abstract]
Carrying value of assets held-for-sale	8.5	3.2
U.S. Pension Plans [Member]
U.S. pension plan assets [Abstract]
Fair value of plan assets	141.5	217
Money Market Investments [Member] | U.S. Pension Plans [Member]
U.S. pension plan assets [Abstract]
Fair value of plan assets	5.8	8.1
Common Stocks [Member] | U.S. Pension Plans [Member]
U.S. pension plan assets [Abstract]
Fair value of plan assets	25	42.7
Corporate Bonds [Member] | U.S. Pension Plans [Member]
U.S. pension plan assets [Abstract]
Fair value of plan assets	8.4	23.5
Pooled Equity Funds [Member] | U.S. Pension Plans [Member]
U.S. pension plan assets [Abstract]
Fair value of plan assets	56	80.4
Pooled Fixed-income Funds [Member] | U.S. Pension Plans [Member]
U.S. pension plan assets [Abstract]
Fair value of plan assets	26.3	15.5
US Government and Agency Securities [Member] | U.S. Pension Plans [Member]
U.S. pension plan assets [Abstract]
Fair value of plan assets	18.4	39.8
Other [Member] | U.S. Pension Plans [Member]
U.S. pension plan assets [Abstract]
Fair value of plan assets	1.6	7
Level 1 [Member] | U.S. Pension Plans [Member]
U.S. pension plan assets [Abstract]
Fair value of plan assets	99.1	125.7
Level 1 [Member] | Money Market Investments [Member] | U.S. Pension Plans [Member]
U.S. pension plan assets [Abstract]
Fair value of plan assets	0	0
Level 1 [Member] | Common Stocks [Member] | U.S. Pension Plans [Member]
U.S. pension plan assets [Abstract]
Fair value of plan assets	23.7	40.5
Level 1 [Member] | Corporate Bonds [Member] | U.S. Pension Plans [Member]
U.S. pension plan assets [Abstract]
Fair value of plan assets	0	0
Level 1 [Member] | Pooled Equity Funds [Member] | U.S. Pension Plans [Member]
U.S. pension plan assets [Abstract]
Fair value of plan assets	48.7	69
Level 1 [Member] | Pooled Fixed-income Funds [Member] | U.S. Pension Plans [Member]
U.S. pension plan assets [Abstract]
Fair value of plan assets	26.3	15.5
Level 1 [Member] | US Government and Agency Securities [Member] | U.S. Pension Plans [Member]
U.S. pension plan assets [Abstract]
Fair value of plan assets	0	0
Level 1 [Member] | Other [Member] | U.S. Pension Plans [Member]
U.S. pension plan assets [Abstract]
Fair value of plan assets	0.4	0.7
Level 2 [Member] | U.S. Pension Plans [Member]
U.S. pension plan assets [Abstract]
Fair value of plan assets	42.4	91.3
Level 2 [Member] | Money Market Investments [Member] | U.S. Pension Plans [Member]
U.S. pension plan assets [Abstract]
Fair value of plan assets	5.8	8.1
Level 2 [Member] | Common Stocks [Member] | U.S. Pension Plans [Member]
U.S. pension plan assets [Abstract]
Fair value of plan assets	1.3	2.2
Level 2 [Member] | Corporate Bonds [Member] | U.S. Pension Plans [Member]
U.S. pension plan assets [Abstract]
Fair value of plan assets	8.4	23.5
Level 2 [Member] | Pooled Equity Funds [Member] | U.S. Pension Plans [Member]
U.S. pension plan assets [Abstract]
Fair value of plan assets	7.3	11.4
Level 2 [Member] | Pooled Fixed-income Funds [Member] | U.S. Pension Plans [Member]
U.S. pension plan assets [Abstract]
Fair value of plan assets	0	0
Level 2 [Member] | US Government and Agency Securities [Member] | U.S. Pension Plans [Member]
U.S. pension plan assets [Abstract]
Fair value of plan assets	18.4	39.8
Level 2 [Member] | Other [Member] | U.S. Pension Plans [Member]
U.S. pension plan assets [Abstract]
Fair value of plan assets	1.2	6.3
Level 3 [Member] | U.S. Pension Plans [Member]
U.S. pension plan assets [Abstract]
Fair value of plan assets	$ 0	$ 0

Stock-Based Compensation (Detai

Stock-Based Compensation (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	12 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Mar. 31, 2014
Compensation Expense [Abstract]
Stock-based compensation cost	$ 4.9	$ 4	$ 3.6
Stock Options [Member]
Compensation Expense [Abstract]
Stock-based compensation cost	0.9	0.9	0.8
Total fair value of stock options vesting	0.9	$ 0.9	$ 0.8
Unrecognized compensation costs	$ 2
Weighted average period recognized	2 years 6 months
Assumptions for stock awards granted [Abstract]
Weighted-average fair value of options (in dollars per share)	$ 7.11	$ 10.21	$ 7.76
Expected life of awards in years	6 years 3 months 18 days	6 years 3 months 18 days	6 years 3 months 18 days
Risk-free interest rate	1.90%	2.10%	1.30%
Expected volatility of the Company's stock	66.90%	76.10%	88.70%
Expected dividend yield on the Company's stock	0.00%	0.00%	0.00%
Annual vesting percentage	25.00%
Award performance period	4 years
Pre-vesting forfeiture rate	2.50%
Shares [Rollforward]
Outstanding, beginning (in shares)	1.5
Granted (in shares)	0.2
Exercised (in shares)	(0.1)
Forfeited or expired (in shares)	(0.1)
Outstanding, ending (in shares)	1.5	1.5
Exercisable, March 31 (in shares)	1.1
Weighted average exercise price [Rollforward]
Outstanding, beginning (in dollars per share)	$ 11.99
Granted (in dollars per share)	11.39
Exercised (in dollars per share)	5.82
Forfeited or expired (in dollars per share)	27.33
Outstanding, ending (in dollars per share)	10.82	$ 11.99
Exercisable, March 31 (in dollars per share)	$ 10.41
Options, Outstanding, Weighted average remaining contractual term	5 years 3 months 18 days
Options, Outstanding, Aggregate intrinsic value	$ 3
Options, Exercisable, Weighted average remaining contractual term	4 years 3 months 18 days
Options, Exercisable, Aggregate intrinsic value	$ 3
Additional information related to stock options exercised [Abstract]
Intrinsic value of stock options exercised	0.4	$ 0.4	$ 1.1
Proceeds from stock options exercised	$ 0.5	0.6	1.1
Stock Options [Member] | Maximum [Member]
Assumptions for stock awards granted [Abstract]
Stock option term	10 years
Restricted Stock [Member]
Compensation Expense [Abstract]
Stock-based compensation cost	$ 3.5	2.8	2.2
Total fair value of stock options vesting	3.4	$ 2.3	1.6
Unrecognized compensation costs	$ 4.7
Weighted average period recognized	2 years 4 months 24 days
Assumptions for stock awards granted [Abstract]
Annual vesting percentage	25.00%
Award performance period	4 years
Shares [Roll Forward]
Non-vested balance, beginning (in shares)	0.7
Granted (in shares)	0.3
Vested (in shares)	(0.4)
Non-vested balance, ending (in shares)	0.6	0.7
Weighted average price [Rollforward]
Non-vested balance, beginning (in dollars per share)	$ 10.68
Granted (in dollars per share)	11.18
Vested (in dollars per share)	10.01
Non-vested balance, ending (in dollars per share)	$ 11.29	$ 10.68
Restricted Stock - Performance Based Shares [Member]
Compensation Expense [Abstract]
Stock-based compensation cost	$ 0.5	$ 0.3	$ 0.6
Unrecognized compensation costs	$ 1.2
Weighted average period recognized	1 year 8 months 12 days
Assumptions for stock awards granted [Abstract]
Award performance period	3 years	3 years
2008 Incentive Compensation Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares available for grant (in shares)	3.3

Restructuring Activities (Detai

Restructuring Activities (Details) - USD ($) $ in Millions	3 Months Ended								12 Months Ended
	Mar. 31, 2016	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2016	Mar. 31, 2015	Mar. 31, 2014
Restructuring and repositioning expenses [Abstract]
Employee severance and related benefits									$ 12.8	$ 1.2	$ 14.8
Accelerated depreciation									0	0	4.3
Other restructuring and repositioning expenses									3.8	3.5	1.3
Total									16.6	4.7	20.4
Changes in accrued severance [Roll Forward]
Beginning balance				$ 9.9				$ 19.4	9.9	19.4
Additions									12.8	1.2
Payments									(8.5)	(7.3)
Effect of exchange rate changes									0.5	(3.4)
Ending balance	$ 14.7				$ 9.9				14.7	9.9	19.4
Other [Abstract]
Restructuring expenses	11.4	$ 1.6	$ 1	$ 2.6	1	$ 1.9	$ 1	$ 0.8	16.6	4.7	16.1
Asset impairment charges	9.9				7.8				9.9	7.8	3.2
Assets held for sale	$ 8.5				$ 3.2				8.5	3.2
Proceeds from the sale of assets									0.4	7.6	2.9
Gain on the sale of assets						$ 3.2			0	3.2	0
Cost of Sales [Member]
Restructuring and repositioning expenses [Abstract]
Total											4.3
Europe Segment [Member]
Other [Abstract]
Asset impairment charges									$ 9.9		2
Proceeds from the sale of assets										5.8
Gain on the sale of assets										$ 3.2
America Segment [Member]
Other [Abstract]
Asset impairment charges											$ 1.2

Other Income and Expense (Detai

Other Income and Expense (Details) - USD ($) $ in Millions		3 Months Ended	12 Months Ended
		Mar. 31, 2016	Mar. 31, 2016		Mar. 31, 2015		Mar. 31, 2014
Other Income and Expense [Abstract]
Equity in earnings of non-consolidated affiliate			$ 0.1		$ 0.6		$ 0.7
Interest income			0.4		0.5		0.5
Foreign currency transactions	[1]		(1.3)		(0.9)		(2)
Gain from insurance recovery		$ 9.5	9.5	[2]	0	[2]	0	[2]
Total other income (expense) - net			$ 8.7		$ 0.2		$ (0.8)
[1]	Foreign currency transactions primarily consist of foreign currency transaction gains and losses on the re-measurement or settlement of foreign currency-denominated assets and liabilities, including intercompany loans and transactions denominated in a foreign currency, along with gains and losses on foreign currency exchange contracts.
[2]	During fiscal 2016, the Company settled an insurance claim related to machinery and equipment destroyed in a fire at its Airedale facility and recorded a gain of $9.5 million. See Note 2 for additional information.

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Millions	3 Months Ended	12 Months Ended
	Mar. 31, 2016	Mar. 31, 2016	Mar. 31, 2015	Mar. 31, 2014
Components of (loss) earnings from continuing operations before income taxes [Abstract]
United States		$ (15.4)	$ 31.1	$ 14.1
Foreign		5.5	10.1	9.9
(Loss) earnings from continuing operations before income taxes		(9.9)	41.2	24
Federal [Abstract]
Current		0.1	0.4	(2)
Deferred		(13)	7.1	(95.8)
State [Abstract]
Current		0.2	0	0.2
Deferred		(2.5)	1.1	(21.4)
Foreign [Abstract]
Current		9.6	12.7	10
Deferred		(3.3)	(2.3)	1.1
Total income tax (benefit) expense		$ (8.9)	$ 19	$ (107.9)
Reconciliation of federal statutory income tax rate to company's effective income tax rate [Abstract]
Statutory federal tax		35.00%	35.00%	35.00%
State taxes, net of federal benefit		11.50%	2.40%	2.10%
Taxes on non-U.S. earnings and losses		26.40%	(4.90%)	(3.80%)
Valuation allowance		(20.90%)	8.30%	(471.70%)
Tax credits		20.50%	(6.10%)	(7.10%)
Compensation		(3.70%)	1.00%	0.40%
Tax rate or law changes		1.30%	1.20%	(9.20%)
Uncertain tax positions net of settlements		(4.30%)	2.20%	0.40%
Dividend repatriation		16.00%	2.40%	5.80%
Other		8.10%	4.60%	(1.50%)
Effective tax rate		89.90%	46.10%	(449.60%)
Deferred tax assets [Abstract]
Accounts receivable	$ 0.1	$ 0.1	$ 0.3
Inventories	3.6	3.6	3.8
Plant and equipment	4.3	4.3	0.8
Pension and employee benefits	52.6	52.6	50.5
Net operating loss, capital loss and credit carryforwards	109.4	109.4	105
Other, principally accrued liabilities	6.9	6.9	6.8
Total gross deferred tax assets	176.9	176.9	167.2
Less: valuation allowance	(50.8)	(50.8)	(48)
Net deferred tax assets	126.1	126.1	119.2
Deferred tax liabilities [Abstract]
Plant and equipment	5.5	5.5	5.3
Goodwill	0.6	0.6	0.6
Other	1.1	1.1	1
Total gross deferred tax liabilities	7.2	7.2	6.9
Net deferred tax asset	118.9	118.9	112.3
Valuation Allowance [Line Items]
Reversal of deferred tax asset valuation allowances	3	3		$ 119.2
Foreign tax benefit from law change				2.2
Reconciliation of unrecognized tax benefits [Roll Forward]
Balance, April 1		5.6	2.1
Gross increases - tax positions in prior period		0	3.1
Gross decreases - tax positions in prior period		(0.1)	0
Gross increases - tax positions in current period		0.4	0.4
Balance, March 31	5.9	5.9	5.6	2.1
Unrecognized tax benefits that would impact effective tax rate	3.5	3.5
Unrecognized tax benefits accrued interest and penalties	0	0	0
Undistributed foreign earnings [Abstract]
Tax on undistributed earnings of certain joint equity investment	1.1	1.1
Undistributed earnings in remaining foreign operations	491	491
Foreign Tax Jurisdictions [Member]
Valuation Allowance [Line Items]
Valuation allowance recorded against deferred tax assets		5	$ 2.6	$ 12.3
Federal and State [Member]
Tax Credit Carryforward [Line Items]
Tax credit carryforwards, research and development	23.3	$ 23.3
Federal and State [Member] | Minimum [Member]
Tax Credit Carryforward [Line Items]
Tax loss credit carryforward, expiration date		Mar. 31, 2018
Federal and State [Member] | Maximum [Member]
Tax Credit Carryforward [Line Items]
Tax loss credit carryforward, expiration date		Mar. 31, 2036
Foreign Tax Jurisdictions [Member]
Operating Loss Carryforwards [Line Items]
Tax loss carryforwards	330.7	$ 330.7
Tax losses subject to expiration	156.9	156.9
Tax losses not subject to expiration	173.8	$ 173.8
Foreign Tax Jurisdictions [Member] | Minimum [Member]
Operating Loss Carryforwards [Line Items]
Tax loss carryforwards, expiration date		Mar. 31, 2017
Foreign Tax Jurisdictions [Member] | Maximum [Member]
Operating Loss Carryforwards [Line Items]
Tax loss carryforwards, expiration date		Mar. 31, 2035
State and Local [Member]
Operating Loss Carryforwards [Line Items]
Tax loss carryforwards	$ 190.8	$ 190.8
State and Local [Member] | Minimum [Member]
Operating Loss Carryforwards [Line Items]
Tax loss carryforwards, expiration date		Mar. 31, 2017
State and Local [Member] | Maximum [Member]
Operating Loss Carryforwards [Line Items]
Tax loss carryforwards, expiration date		Mar. 31, 2036
Austria [Member]
Income Tax Examination [Line Items]
Open tax year for examination by tax jurisdictions		Fiscal 2012 - 2015
Brazil [Member]
Income Tax Examination [Line Items]
Open tax year for examination by tax jurisdictions		Calendar 2011 - 2015
Germany [Member]
Income Tax Examination [Line Items]
Open tax year for examination by tax jurisdictions		Fiscal 2012 - 2015
United States [Member]
Income Tax Examination [Line Items]
Open tax year for examination by tax jurisdictions		Fiscal 2013 - 2015

Earnings Per Share (Details)

Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended																12 Months Ended
	Mar. 31, 2016		Dec. 31, 2015		Sep. 30, 2015		Jun. 30, 2015		Mar. 31, 2015		Dec. 31, 2014		Sep. 30, 2014		Jun. 30, 2014		Mar. 31, 2016	Mar. 31, 2015	Mar. 31, 2014
Basic [Abstract]
(Loss) earnings from continuing operations	$ 7.8	[1]	$ 8.2	[1]	$ (22.5)	[1]	$ 5.5	[1]	$ (3)	[2]	$ 9.1	[2]	$ 2	[2]	$ 14.1	[2]	$ (1)	$ 22.2	$ 131.9
Less: Net earnings attributable to noncontrolling interest																	(0.6)	(1)	(1.5)
Less: Undistributed earnings attributable to unvested shares																	0	(0.2)	(1.7)
(Loss) earnings from continuing operations available to Modine shareholders																	(1.6)	21	128.7
Earnings from discontinued operations, net of income taxes																	0	0.6	0
Net (loss) earnings available to Modine shareholders																	$ (1.6)	$ 21.6	$ 128.7
Weighted-average shares outstanding - basic (in shares)																	47.3	47.2	46.9
Basic Earnings Per Share [Abstract]
(Loss) earnings per share - continuing operations (in dollars per share)																	$ (0.03)	$ 0.45	$ 2.75
Earnings per share - discontinued operations (in dollars per share)																	0	0.01	0
Net (loss) earnings per share - basic (in dollars per share)	$ 0.16		$ 0.17		$ (0.47)		$ 0.11		$ (0.07)		$ 0.20		$ 0.04		$ 0.29		$ (0.03)	$ 0.46	$ 2.75
Diluted [Abstract]
(Loss) earnings from continuing operations	$ 7.8	[1]	$ 8.2	[1]	$ (22.5)	[1]	$ 5.5	[1]	$ (3)	[2]	$ 9.1	[2]	$ 2	[2]	$ 14.1	[2]	$ (1)	$ 22.2	$ 131.9
Less: Net earnings attributable to noncontrolling interest																	(0.6)	(1)	(1.5)
Less: Undistributed earnings attributable to unvested shares																	0	(0.2)	(0.9)
(Loss) earnings from continuing operations available to Modine shareholders																	(1.6)	21	129.5
Earnings from discontinued operations, net of income taxes																	0	0.6	0
Net (loss) earnings available to Modine shareholders																	$ (1.6)	$ 21.6	$ 129.5
Weighted-average shares outstanding - basic (in shares)																	47.3	47.2	46.9
Effect of dilutive securities (in shares)																	0	0.6	0.7
Weighted-average shares outstanding - diluted (in shares)																	47.3	47.8	47.6
Diluted Earnings Per Share [Abstract]
(Loss) earnings per share - continuing operations (in dollars per share)																	$ (0.03)	$ 0.44	$ 2.72
Earnings per share - discontinued operations (in dollars per share)																	0	0.01	0
Net (loss) earnings per share - diluted (in dollars per share)	$ 0.16		$ 0.17		$ (0.47)		$ 0.11		$ (0.07)		$ 0.20		$ 0.04		$ 0.28		$ (0.03)	$ 0.45	$ 2.72
Potential dilutive securities (in shares)																	0.4
Stock Options [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earning per share (in shares)																	0.8	0.6	0.8
[1]	During fiscal 2016, restructuring expenses totaled $2.6 million, $1.0 million, $1.6 million, and $11.4 million for the quarters ended June 30, 2015, September 30, 2015, December 31, 2015, and March 31, 2016, respectively (see Note 6). During the fourth quarter of fiscal 2016, the Company recorded a $9.9 million asset impairment charge related to a manufacturing facility in Germany (see Note 6). During fiscal 2016, non-cash pension settlement losses totaled $39.2 million, $1.1 million, and $1.8 million for the quarters ended September 30, 2015, December 31, 2015, and March 31, 2016, respectively (see Note 17). During the fourth quarter of fiscal 2016, the Company recorded a $9.5 million gain related to an insurance settlement for equipment losses resulting from the Airedale fire (see Note 2). Also during the fourth quarter of fiscal 2016, the Company reversed a deferred tax asset valuation allowance, and, as a result, recorded an income tax benefit of $3.0 million (see Note 8).
[2]	During fiscal 2015, restructuring expenses totaled $0.8 million, $1.0 million, $1.9 million, and $1.0 million for the quarters ended June 30, 2014, September 30, 2014, December 31, 2014, and March 31, 2015, respectively (see Note 6). During the third quarter of fiscal 2015, the Company sold a wind tunnel and recognized a gain of $3.2 million (see Note 6). During the fourth quarter of fiscal 2015, the Company recorded a $7.8 million goodwill impairment charge (see Note 14) and a $3.2 million charge associated with a legal matter in Brazil (see Note 19).

Inventories (Details)

Inventories (Details) - USD ($) $ in Millions	Mar. 31, 2016	Mar. 31, 2015
Inventories [Abstract]
Raw materials and work in process	$ 79.5	$ 80.7
Finished goods	31.5	27
Total inventories	$ 111	$ 107.7

Property, Plant and Equipment61

Property, Plant and Equipment (Details) - USD ($) $ in Millions	12 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Mar. 31, 2014
Property, Plant and Equipment [Line Items]
Gross property, plant and equipment	$ 1,043.6	$ 994.8
Less: accumulated depreciation	(705)	(672.7)
Net property, plant and equipment	338.6	322.1
Depreciation expense	48.6	50	$ 57.3
Loss from disposition of property, plant and equipment	(0.4)	(1.1)	$ (2.6)
Land [Member]
Property, Plant and Equipment [Line Items]
Gross property, plant and equipment	7.2	8.2
Buildings and Improvements [Member]
Property, Plant and Equipment [Line Items]
Gross property, plant and equipment	$ 221.3	221
Buildings and Improvements [Member] | Minimum [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, depreciable lives	10 years
Buildings and Improvements [Member] | Maximum [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, depreciable lives	40 years
Machinery and Equipment [Member]
Property, Plant and Equipment [Line Items]
Gross property, plant and equipment	$ 694.3	652
Machinery and Equipment [Member] | Minimum [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, depreciable lives	3 years
Machinery and Equipment [Member] | Maximum [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, depreciable lives	12 years
Office Equipment [Member]
Property, Plant and Equipment [Line Items]
Gross property, plant and equipment	$ 84.1	81.9
Office Equipment [Member] | Minimum [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, depreciable lives	3 years
Office Equipment [Member] | Maximum [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, depreciable lives	10 years
Construction in Progress [Member]
Property, Plant and Equipment [Line Items]
Gross property, plant and equipment	$ 36.7	$ 31.7

Investment in Affiliate (Detail

Investment in Affiliate (Details) - USD ($) $ in Millions	12 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Mar. 31, 2014
Schedule of Equity Method Investments [Line Items]
Equity method investment, percent owned	20.00%
Earnings from equity method investments	$ 0.1	$ 0.6	$ 0.7
Nikkei Heat Exchanger Company, Ltd. [Member]
Schedule of Equity Method Investments [Line Items]
Equity method investment, percent owned	50.00%
Equity method investment	$ 3.2	3.2
Earnings from equity method investments	$ 0.1	$ 0.6	$ 0.7

Intangible Assets (Details)

Intangible Assets (Details) - USD ($) $ in Millions	12 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Mar. 31, 2014
Amortized intangible assets [Abstract]
Gross carrying value	$ 16.4	$ 16.8
Accumulated amortization	(8.2)	(6.9)
Net intangible assets	8.2	9.9
Amortization expense	1.6	1.6	$ 0.8
Estimated future amortization expense [Abstract]
2,017	1.6
2,018	1.6
2,019	1.5
2,020	1.3
2,021	0.8
2022 & Beyond	1.4
Trade Names [Member]
Amortized intangible assets [Abstract]
Gross carrying value	8.9	9.1
Accumulated amortization	(6.3)	(5.8)
Net intangible assets	2.6	3.3
Acquired Technology [Member]
Amortized intangible assets [Abstract]
Gross carrying value	5.5	5.6
Accumulated amortization	(1.5)	(0.9)
Net intangible assets	4	4.7
Customer Relationships [Member]
Amortized intangible assets [Abstract]
Gross carrying value	2	2.1
Accumulated amortization	(0.4)	(0.2)
Net intangible assets	$ 1.6	$ 1.9

Goodwill (Details)

Goodwill (Details) - USD ($) $ in Millions	12 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Goodwill [Roll Forward]
Beginning balance	$ 16.2	$ 28.7
Impairment charge		(7.8)
Effect of exchange rate changes	(0.4)	(4.7)
Ending balance	15.8	16.2
Americas [Member]
Goodwill [Roll Forward]
Beginning balance	0	10.9
Impairment charge		(7.8)
Effect of exchange rate changes	0	(3.1)
Ending balance	0	0
Accumulated impairment losses	31.6
Asia [Member]
Goodwill [Roll Forward]
Beginning balance	0.5	0.5
Impairment charge		0
Effect of exchange rate changes	0	0
Ending balance	0.5	0.5
Building HVAC [Member]
Goodwill [Roll Forward]
Beginning balance	15.7	17.3
Impairment charge		0
Effect of exchange rate changes	(0.4)	(1.6)
Ending balance	$ 15.3	15.7
Europe [Member]
Goodwill [Roll Forward]
Accumulated impairment losses		$ 8.7

Product Warranties, Operating65

Product Warranties, Operating Leases and Other Commitments (Details) - USD ($) $ in Millions	12 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Mar. 31, 2014
Product Warranties, Operating Leases and Other Commitments [Abstract]
Product warranty period, minimum	1 year
Product warranty period, maximum	5 years
Changes in accrued warranty costs [Roll Forward]
Beginning balance	$ 10.4	$ 14
Warranties recorded at time of sale	5.7	5.8
Adjustments to pre-existing warranties	(1.1)	1.5
Settlements	(6.7)	(9.2)
Effect of exchange rate changes	0	(1.7)
Ending balance	8.3	10.4	$ 14
Rental expense	11.9	$ 11.5	$ 11.5
Future minimum rental commitments under non-cancelable operating leases [Abstract]
2,017	8.1
2,018	5.6
2,019	4.8
2,020	4.6
2,021	4.1
2022 and beyond	26.3
Total future minimum rental commitments	$ 53.5
Indemnification period, minimum	1 year
Indemnification period, maximum	15 years
Capital expenditure commitments	$ 20.5

Indebtedness (Details)

Indebtedness (Details) - USD ($) $ in Millions		12 Months Ended
		Mar. 31, 2016	Mar. 31, 2015
Long-term Debt and Capital Lease Obligations [Abstract]
Long-term debt		$ 125.4	$ 125.2
Total debt		134	130.1
Less current portion		(8.5)	(0.5)
Total long-term debt		125.5	129.6
Maturities of long term debt and capital lease obligations [Abstract]
2,017		8.5
2,018		16.5
2,019		16.5
2,020		16.6
2,021		69.4
2022 & beyond		6.5
Total debt		134	130.1
Line of Credit Facility [Abstract]
Available for future borrowings		207
Foreign credit agreements [Member]
Long-term Debt and Capital Lease Obligations [Abstract]
Long-term debt		0.4	0.2
Maturities of long term debt and capital lease obligations [Abstract]
Short-term debt		28.6	18.6
Line of Credit Facility [Abstract]
Available for future borrowings		$ 32
Foreign credit agreements [Member] | Minimum [Member]
Line of Credit Facility [Abstract]
Expiration date		Mar. 31, 2018
Foreign credit agreements [Member] | Maximum [Member]
Line of Credit Facility [Abstract]
Expiration date		Mar. 31, 2020
Revolving Credit Facility [Member]
Long-term Debt and Capital Lease Obligations [Abstract]
Long-term debt		$ 0	0
Domestic Revolving Credit Facility [Member]
Line of Credit Facility [Abstract]
Maximum borrowing capacity		$ 175
Expiration date		Aug. 31, 2018
Basis spread on variable rate		1.80%
Amount outstanding		$ 0	0
Domestic Revolving Credit Facility [Member] | London Interbank Offered Rate (LIBOR) [Member] | Minimum [Member]
Line of Credit Facility [Abstract]
Basis spread on variable rate		1.25%
Domestic Revolving Credit Facility [Member] | London Interbank Offered Rate (LIBOR) [Member] | Maximum [Member]
Line of Credit Facility [Abstract]
Basis spread on variable rate		2.25%
6.8% Senior Notes [Member]
Long-term Debt and Capital Lease Obligations [Abstract]
Interest rate percentage		6.80%
Long-term debt		$ 125	125
Maturity date, minimum		Mar. 31, 2017
Maturity date, maximum		Mar. 30, 2021
Maturities of long term debt and capital lease obligations [Abstract]
Long-term debt, fair value		$ 139	141
Other Debt [Member]
Long-term Debt and Capital Lease Obligations [Abstract]
Other	[1]	$ 8.6	$ 4.9
Other Debt [Member] | Minimum [Member]
Long-term Debt and Capital Lease Obligations [Abstract]
Maturity date, minimum		Mar. 31, 2017
Other Debt [Member] | Maximum [Member]
Long-term Debt and Capital Lease Obligations [Abstract]
Maturity date, maximum		Mar. 30, 2030
[1]	Other long-term debt includes capital lease obligations and other financing-type obligations.

Pension and Employee Benefit 67

Pension and Employee Benefit Plans (Details) $ in Millions		3 Months Ended			12 Months Ended
		Mar. 31, 2016USD ($)	Dec. 31, 2015USD ($)	Sep. 30, 2015USD ($)	Mar. 31, 2016USD ($)Participant	Mar. 31, 2015USD ($)	Mar. 31, 2014USD ($)
Defined Benefit Plan Disclosure [Line Items]
Portion of employee contribution matched					50.00%	50.00%	50.00%
Defined contribution plan cost recognized					$ 4.6	$ 5.9	$ 8.3
Components of net periodic benefit cost [Abstract]
Settlements		$ 1.8	$ 1.1	$ 39.2
Maximum [Member]
Defined Benefit Plan Disclosure [Line Items]
Contribution by employee					5.00%	5.00%	5.00%
Pension Plans [Member]
Change in benefit obligation [Roll Forward]
Benefit obligation at beginning of year					$ 328.2	$ 295.7
Service cost					0.6	0.5	$ 0.6
Interest cost					11.2	13	13
Actuarial (gain) loss					(2.8)	40.6
Benefits paid	[1]				(78.1)	(14.6)
Effect of exchange rate changes					1.9	(7)
Benefit obligation at end of year		261			261	328.2	295.7
Change in plan assets [Roll Forward]
Fair value of plan assets at beginning of year					217	213.7
Actual return on plan assets					(5.3)	10.8
Benefits paid	[1]				(78.1)	(14.6)
Employer contributions					7.9	7.1
Fair value of plan assets at end of year		141.5			141.5	217	213.7
Funded status at end of year		(119.5)			(119.5)	(111.2)
Amounts recognized in the consolidated balance sheets [Abstract]
Current liability		(0.9)			(0.9)	(0.8)
Noncurrent liability		(118.6)			(118.6)	(110.4)
Total liability		(119.5)			(119.5)	(111.2)
Pension plans with accumulated benefit obligations in excess of plan assets [Abstract]
Accumulated benefit obligation		257.9			257.9	325.5
Amounts recognized in accumulated other comprehensive loss [Abstract]
Net actuarial loss (gain)		162			162	192.3
Components of net periodic benefit cost [Abstract]
Service cost					0.6	0.5	0.6
Interest cost					11.2	13	13
Expected return on plan assets					(14.9)	(16.7)	(15.7)
Amortization of net actuarial loss					6.4	5.5	6.3
Settlements	[2]				42.1	0	0
Net periodic benefit cost					45.4	2.3	4.2
Other changes in benefit obligation recognized in other comprehensive loss (income):
Net actuarial loss (gain)					17.5	46.4	(17.3)
Amortization of net actuarial loss	[2]				(48.5)	(5.5)	(6.3)
Total recognized in other comprehensive (income) loss					(31)	40.9	(23.6)
Reversal of amortization items [Abstract]
Estimated net actuarial loss that will be amortized					(5.6)
Estimated future benefit payments [Abstract]
Anticipated contributions for 2017 fiscal year					8.1
2,017		14.5			14.5
2,018		15.2			15.2
2,019		15.3			15.3
2,020		15.8			15.8
2,021		16.1			16.1
2022-2026		79.3			79.3
Postretirement Plans [Member]
Components of net periodic benefit cost [Abstract]
Net periodic benefit cost					0.3	0.1	1
U.S. Pension Plans [Member]
Change in plan assets [Roll Forward]
Fair value of plan assets at beginning of year					217
Employer contributions					6.7	5.9	$ 8
Fair value of plan assets at end of year		$ 141.5			141.5	$ 217
Components of net periodic benefit cost [Abstract]
Settlements					$ 42.1
Voluntary Lump Sum Payout Program [Abstract]
Number of participants accepted lump-sum payout program | Participant					2,000
Amount paid for settlement lump-sum payout program					$ 65.3
Weighted-average assumptions used in calculating benefit obligation [Abstract]
Discount rate		4.10%			4.10%	4.00%
Weighted-average assumptions used in calculating plan cost [Abstract]
Discount rate used to determine cost of pension plan					4.30%	4.70%	4.40%
Defined Benefit Plan, Information about Plan Assets [Abstract]
Target allocation					100.00%
Plan assets		100.00%			100.00%	100.00%
Expected return on plan assets					8.00%	8.00%	8.00%
Expected return on plan assets for next fiscal year					8.00%
U.S. Pension Plans [Member] | Equity Securities [Member]
Defined Benefit Plan, Information about Plan Assets [Abstract]
Target allocation					55.00%
Plan assets		56.00%			56.00%	55.00%
U.S. Pension Plans [Member] | Debt Securities [Member]
Defined Benefit Plan, Information about Plan Assets [Abstract]
Target allocation					38.00%
Plan assets		36.00%			36.00%	36.00%
U.S. Pension Plans [Member] | Alternative Assets [Member]
Defined Benefit Plan, Information about Plan Assets [Abstract]
Target allocation					5.00%
Plan assets		4.00%			4.00%	5.00%
U.S. Pension Plans [Member] | Cash [Member]
Defined Benefit Plan, Information about Plan Assets [Abstract]
Target allocation					2.00%
Plan assets		4.00%			4.00%	4.00%
Foreign Pension Plans [Member]
Weighted-average assumptions used in calculating benefit obligation [Abstract]
Discount rate		1.80%			1.80%	1.30%
Weighted-average assumptions used in calculating plan cost [Abstract]
Discount rate used to determine cost of pension plan					1.30%	3.00%	3.50%
Selling, General and Administrative Expenses [Member] | U.S. Pension Plans [Member]
Components of net periodic benefit cost [Abstract]
Settlements					$ 33.3
Cost of Sales [Member] | U.S. Pension Plans [Member]
Components of net periodic benefit cost [Abstract]
Settlements					$ 8.8
[1]	In fiscal 2016, $65.3 million was paid from plan assets in connection with lump-sum payouts.
[2]	During fiscal 2016, in connection with lump-sum payouts to pension plan participants, the Company recorded $42.1 million of settlement losses, which were previously recorded in accumulated other comprehensive loss.

Derivative Instruments (Details

Derivative Instruments (Details) - Not Designated as Hedges [Member] - USD ($) $ in Millions	Mar. 31, 2016	Mar. 31, 2015
Foreign Exchange Contracts [Member] | Other current assets [Member]
Derivative instruments [Abstract]
Derivative Asset, Fair Value, Net	$ 0.1	$ 0
Foreign Exchange Contracts [Member] | Other current liabilities [Member]
Derivative instruments [Abstract]
Derivative Liability, Fair Value, Net	0	0.3
Commodity Derivatives [Member] | Other current liabilities [Member]
Derivative instruments [Abstract]
Derivative Liability, Fair Value, Net	$ 0.1	$ 0.1

Derivative Instruments, (Gain)

Derivative Instruments, (Gain) Loss by Hedging Relationship, by Income Statement Location (Details) - USD ($) $ in Millions	12 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Mar. 31, 2014
Derivative Instruments, (Gain) Loss [Line Items]
Total Loss (Gain) Recognized in Continuing Operations	$ (0.1)	$ (1.3)	$ (0.5)
Cost of Sales [Member] | Commodity Derivatives [Member]
Derivative Instruments, (Gain) Loss [Line Items]
Total Loss (Gain) Recognized in Continuing Operations	(0.7)	(0.2)	(0.5)
Other Income (Expense) - Net [Member] | Foreign Exchange Contracts [Member]
Derivative Instruments, (Gain) Loss [Line Items]
Total Loss (Gain) Recognized in Continuing Operations	$ 0.6	$ (1.1)	$ 0

Contingencies and Litigation (D

Contingencies and Litigation (Details) BRL in Millions, $ in Millions	12 Months Ended
	Mar. 31, 2016USD ($)CustomerSite	Mar. 31, 2015USD ($)Customer	Mar. 31, 2014Customer	Mar. 31, 2016BRLCustomer	Mar. 31, 2015BRL
Concentration Risk [Line Items]
Number of major customers | Customer	2	2	1
Number of top customers | Customer	10			10
Legal Matters [Abstract]
Brazil legal matter	$ 2.8	$ 3.2		BRL 10	BRL 10
Closed and Sold Manufacturing Facility [Member]
Site Contingency [Line Items]
Reserves for environmental matters | $	$ 5.1	$ 3.8
Closed and Sold Manufacturing Facility [Member] | United States [Member]
Site Contingency [Line Items]
Number of sites remediation considered for potentially responsible party | Site	3
Reserves for environmental matters | $	$ 1.6
Customer Concentration Risk [Member]
Concentration Risk [Line Items]
Concentration risk, percentage	63.00%	63.00%	56.00%
Credit Concentration Risk [Member]
Concentration Risk [Line Items]
Concentration risk, percentage	45.00%	47.00%

Accumulated Other Comprehensi71

Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Millions		12 Months Ended
		Mar. 31, 2016	Mar. 31, 2015
Accumulated Other Comprehensive Loss [Line Items]
Beginning balance		$ (198.6)	$ (103.9)
Other comprehensive loss before reclassifications		(11.9)	(113.2)
Reclassifications [Abstract]
Income taxes		(11.8)	13.2
Total other comprehensive loss		24.4	(94.7)
Ending balance		(174.2)	(198.6)
Reclassification out of Accumulated Other Comprehensive Income [Member]
Reclassifications [Abstract]
Amortization of unrecognized net loss	[1]	48.3	5.4
Amortization of unrecognized prior service credit	[1]	(0.2)	(0.1)
Foreign Currency Translation [Member]
Accumulated Other Comprehensive Loss [Line Items]
Beginning balance		(40.7)	27.3
Other comprehensive loss before reclassifications		4.7	(68)
Reclassifications [Abstract]
Income taxes		0	0
Total other comprehensive loss		4.7	(68)
Ending balance		(36)	(40.7)
Foreign Currency Translation [Member] | Reclassification out of Accumulated Other Comprehensive Income [Member]
Reclassifications [Abstract]
Amortization of unrecognized net loss	[1]	0	0
Amortization of unrecognized prior service credit	[1]	0	0
Defined Benefit Plans [Member]
Accumulated Other Comprehensive Loss [Line Items]
Beginning balance		(157.9)	(131.2)
Other comprehensive loss before reclassifications		(16.6)	(45.2)
Reclassifications [Abstract]
Income taxes		(11.8)	13.2
Total other comprehensive loss		19.7	(26.7)
Ending balance		(138.2)	(157.9)
Defined Benefit Plans [Member] | Reclassification out of Accumulated Other Comprehensive Income [Member]
Reclassifications [Abstract]
Amortization of unrecognized net loss	[1]	48.3	5.4
Amortization of unrecognized prior service credit	[1]	$ (0.2)	$ (0.1)
[1]	Amounts are included in the calculation of net periodic benefit cost for the Company's defined benefit plans, which include pension and other postretirement plans. See Note 17 for additional information about the Company's pension plans.

Segment and Geographic Inform72

Segment and Geographic Information (Details) $ in Millions		3 Months Ended								12 Months Ended
		Mar. 31, 2016USD ($)	Dec. 31, 2015USD ($)	Sep. 30, 2015USD ($)	Jun. 30, 2015USD ($)	Mar. 31, 2015USD ($)	Dec. 31, 2014USD ($)	Sep. 30, 2014USD ($)	Jun. 30, 2014USD ($)	Mar. 31, 2016USD ($)Segment	Mar. 31, 2015USD ($)	Mar. 31, 2014USD ($)
Segment Reporting Information [Line Items]
Number of reportable segments | Segment										4
Net sales, gross profit, operating (loss) income and total assets by segment [Abstract]
Gross profit		$ 62.2	$ 58.6	$ 45.7	$ 57	$ 62.7	$ 59.4	$ 56.7	$ 67.7	$ 223.5	$ 246.5	$ 238.2
Gross profit (% of sales)										16.50%	16.50%	16.10%
Operating (loss) income										$ (7.5)	$ 52.7	$ 37.2
Total assets		920.9				930.9				920.9	930.9
Pension settlement loss		(1.8)	$ (1.1)	$ (39.2)
Segment Reporting Information, Additional Information [Abstract]
Total capital expenditures										62.8	58.3	53.1
Total depreciation and amortization expense										50.2	51.6	58.1
Total property, plant and equipment		338.6				322.1				338.6	322.1
Net sales										1,352.5	1,496.4	1,477.6
Revenue from External Customer [Line Items]
Net sales										1,352.5	1,496.4	1,477.6
Pension [Member]
Net sales, gross profit, operating (loss) income and total assets by segment [Abstract]
Pension settlement loss										(42.1)
Selling, General and Administrative Expenses [Member] | Pension [Member]
Net sales, gross profit, operating (loss) income and total assets by segment [Abstract]
Pension settlement loss										(33.3)
Cost of Sales [Member] | Pension [Member]
Net sales, gross profit, operating (loss) income and total assets by segment [Abstract]
Pension settlement loss										(8.8)
Building HVAC [Member]
Net sales, gross profit, operating (loss) income and total assets by segment [Abstract]
Amount of insurance-related assets for the rebuild of the facility damaged						48					48
Commercial Vehicle [Member]
Revenue from External Customer [Line Items]
Net sales										459.8	512.5	477
Automotive [Member]
Revenue from External Customer [Line Items]
Net sales										396.8	401.8	395.6
Off-Highway [Member]
Revenue from External Customer [Line Items]
Net sales										206.2	274.6	320.8
Building HVAC [Member]
Revenue from External Customer [Line Items]
Net sales										181.4	186.3	146.5
Other [Member]
Revenue from External Customer [Line Items]
Net sales										108.3	121.2	137.7
Operating Segments [Member]
Net sales, gross profit, operating (loss) income and total assets by segment [Abstract]
Gross profit										$ 234.6	$ 245.2	$ 237.4
Gross profit (% of sales)										17.10%	16.20%	15.90%
Operating (loss) income										$ 64.2	$ 78.5	$ 65.3
Segment Reporting Information, Additional Information [Abstract]
Net sales										1,370	1,512.6	1,490.7
Operating Segments [Member] | Americas [Member]
Net sales, gross profit, operating (loss) income and total assets by segment [Abstract]
Gross profit										$ 100.1	$ 109.1	$ 114.3
Gross profit (% of sales)										17.10%	16.30%	16.60%
Total assets		267.2				277.7				$ 267.2	$ 277.7
Segment Reporting Information, Additional Information [Abstract]
Total capital expenditures										26.7	30.2	$ 24.6
Total depreciation and amortization expense										22.1	21.3	22.6
Net sales										585.5	666.9	688.3
Operating Segments [Member] | North America [Member]
Net sales, gross profit, operating (loss) income and total assets by segment [Abstract]
Operating (loss) income										36.2	33.4	49.6
Operating Segments [Member] | Europe [Member]
Net sales, gross profit, operating (loss) income and total assets by segment [Abstract]
Gross profit										$ 68.1	$ 68.7	$ 70.8
Gross profit (% of sales)										13.00%	11.90%	12.10%
Operating (loss) income										$ 13.3	$ 25.7	$ 9.6
Total assets		301.9				282.7				301.9	282.7
Segment Reporting Information, Additional Information [Abstract]
Total capital expenditures										24.8	21.5	22.9
Total depreciation and amortization expense										18	19.8	26.6
Net sales										524.1	578.2	584.4
Operating Segments [Member] | Asia [Member]
Net sales, gross profit, operating (loss) income and total assets by segment [Abstract]
Gross profit										$ 12.2	$ 11.5	$ 8.9
Gross profit (% of sales)										15.50%	14.20%	12.50%
Operating (loss) income										$ 0.8	$ 0.3	$ (3.3)
Total assets		104				92.2				104	92.2
Segment Reporting Information, Additional Information [Abstract]
Total capital expenditures										6.2	3.8	4.6
Total depreciation and amortization expense										6.5	7.2	6.7
Net sales										79	81.2	71.5
Operating Segments [Member] | Building HVAC [Member]
Net sales, gross profit, operating (loss) income and total assets by segment [Abstract]
Gross profit										$ 54.2	$ 55.9	$ 43.4
Gross profit (% of sales)										29.90%	30.00%	29.60%
Operating (loss) income										$ 13.9	$ 19.1	$ 9.4
Total assets	[1]	99				131.3				99	131.3
Segment Reporting Information, Additional Information [Abstract]
Total capital expenditures										5.1	2.8	1
Total depreciation and amortization expense										3.6	3.3	2.2
Net sales										181.4	186.3	146.5
Corporate and Eliminations [Member]
Net sales, gross profit, operating (loss) income and total assets by segment [Abstract]
Gross profit	[2]									$ (11.1)	$ 1.3	$ 0.8
Gross profit (% of sales)	[2]									0.00%	0.00%	0.00%
Operating (loss) income	[2]									$ (71.7)	$ (25.8)	$ (28.1)
Total assets		148.8				147				148.8	147
Segment Reporting Information, Additional Information [Abstract]
Net sales										(17.5)	(16.2)	(13.1)
Reportable Geographical Components [Member] | United States [Member]
Segment Reporting Information, Additional Information [Abstract]
Total property, plant and equipment		92.5				92.7				92.5	92.7
Net sales										627.6	669.3	645.7
Reportable Geographical Components [Member] | Germany [Member]
Segment Reporting Information, Additional Information [Abstract]
Total property, plant and equipment		32.1				47.2				32.1	47.2
Net sales										155.3	193.8	229.5
Reportable Geographical Components [Member] | Hungary [Member]
Segment Reporting Information, Additional Information [Abstract]
Total property, plant and equipment		31.4				28.9				31.4	28.9
Net sales										145.9	161	150.3
Reportable Geographical Components [Member] | Austria [Member]
Segment Reporting Information, Additional Information [Abstract]
Total property, plant and equipment		44.2				41.5				44.2	41.5
Net sales										113.1	118.7	109.8
Reportable Geographical Components [Member] | China [Member]
Segment Reporting Information, Additional Information [Abstract]
Total property, plant and equipment		33.6				31.8				33.6	31.8
Reportable Geographical Components [Member] | Other [Member]
Segment Reporting Information, Additional Information [Abstract]
Total property, plant and equipment		$ 104.8				$ 80				104.8	80
Net sales										$ 310.6	$ 353.6	$ 342.3
[1]	As of March 31, 2015, total assets within the Building HVAC segment included $48.0 million of insurance-related assets for the rebuild of the facility damaged by the Airedale fire. See Note 2 for additional information.
[2]	During fiscal 2016, the Company recorded pension settlement losses of $42.1 million at Corporate, within SG&A expenses ($33.3 million) and cost of sales ($8.8 million). See Note 17 for additional information.

Quarterly Financial Data (Una73

Quarterly Financial Data (Unaudited) (Details) $ / shares in Units, BRL in Millions, $ in Millions	3 Months Ended																12 Months Ended
	Mar. 31, 2016USD ($)$ / shares		Dec. 31, 2015USD ($)$ / shares		Sep. 30, 2015USD ($)$ / shares		Jun. 30, 2015USD ($)$ / shares		Mar. 31, 2015USD ($)$ / shares		Dec. 31, 2014USD ($)$ / shares		Sep. 30, 2014USD ($)$ / shares		Jun. 30, 2014USD ($)$ / shares		Mar. 31, 2016USD ($)$ / shares		Mar. 31, 2015USD ($)$ / shares		Mar. 31, 2014USD ($)$ / shares		Mar. 31, 2016BRL	Mar. 31, 2015BRL
Selected quarterly financial information [Abstract]
Net sales	$ 343.7		$ 328.7		$ 334		$ 346.1		$ 363		$ 363.6		$ 377.3		$ 392.5		$ 1,352.5		$ 1,496.4		$ 1,477.6
Gross profit	62.2		58.6		45.7		57		62.7		59.4		56.7		67.7		223.5		246.5		238.2
Earnings (loss) from continuing operations	7.8	[1]	8.2	[1]	(22.5)	[1]	5.5	[1]	(3)	[2]	9.1	[2]	2	[2]	14.1	[2]	(1)		22.2		131.9
Net earnings (loss) attributable to Modine	$ 7.6	[1]	$ 8.2	[1]	$ (22.5)	[1]	$ 5.1	[1]	$ (3.2)	[2]	$ 9.6	[2]	$ 1.7	[2]	$ 13.7	[2]	$ (1.6)		$ 21.8		$ 130.4
Net earnings (loss) per share attributable to Modine shareholders [Abstract]
Basic (in dollars per share) | $ / shares	$ 0.16		$ 0.17		$ (0.47)		$ 0.11		$ (0.07)		$ 0.20		$ 0.04		$ 0.29		$ (0.03)		$ 0.46		$ 2.75
Diluted (in dollars per share) | $ / shares	$ 0.16		$ 0.17		$ (0.47)		$ 0.11		$ (0.07)		$ 0.20		$ 0.04		$ 0.28		$ (0.03)		$ 0.45		$ 2.72
Restructuring expenses	$ 11.4		$ 1.6		$ 1		$ 2.6		$ 1		$ 1.9		$ 1		$ 0.8		$ 16.6		$ 4.7		$ 16.1
Wind tunnel sale											$ 3.2						0		3.2		0
Impairment charges	9.9								7.8								9.9		7.8		3.2
Pension settlement loss	(1.8)		$ (1.1)		$ (39.2)
Gain (loss) on insurance settlement	9.5																9.5	[3]	0	[3]	0	[3]
Deferred tax asset, valuation allowance	3																3				$ 119.2
Brazil legal matter	$ 2.8								$ 3.2								$ 2.8		$ 3.2				BRL 10	BRL 10
[1]	During fiscal 2016, restructuring expenses totaled $2.6 million, $1.0 million, $1.6 million, and $11.4 million for the quarters ended June 30, 2015, September 30, 2015, December 31, 2015, and March 31, 2016, respectively (see Note 6). During the fourth quarter of fiscal 2016, the Company recorded a $9.9 million asset impairment charge related to a manufacturing facility in Germany (see Note 6). During fiscal 2016, non-cash pension settlement losses totaled $39.2 million, $1.1 million, and $1.8 million for the quarters ended September 30, 2015, December 31, 2015, and March 31, 2016, respectively (see Note 17). During the fourth quarter of fiscal 2016, the Company recorded a $9.5 million gain related to an insurance settlement for equipment losses resulting from the Airedale fire (see Note 2). Also during the fourth quarter of fiscal 2016, the Company reversed a deferred tax asset valuation allowance, and, as a result, recorded an income tax benefit of $3.0 million (see Note 8).
[2]	During fiscal 2015, restructuring expenses totaled $0.8 million, $1.0 million, $1.9 million, and $1.0 million for the quarters ended June 30, 2014, September 30, 2014, December 31, 2014, and March 31, 2015, respectively (see Note 6). During the third quarter of fiscal 2015, the Company sold a wind tunnel and recognized a gain of $3.2 million (see Note 6). During the fourth quarter of fiscal 2015, the Company recorded a $7.8 million goodwill impairment charge (see Note 14) and a $3.2 million charge associated with a legal matter in Brazil (see Note 19).
[3]	During fiscal 2016, the Company settled an insurance claim related to machinery and equipment destroyed in a fire at its Airedale facility and recorded a gain of $9.5 million. See Note 2 for additional information.

SCHEDULE II - VALUATION AND Q74

SCHEDULE II - VALUATION AND QUALIFYING ACCOUNTS (Details) - Valuation Allowance for Deferred Tax Assets [Member] - USD ($) $ in Millions		12 Months Ended
		Mar. 31, 2016	Mar. 31, 2015	Mar. 31, 2014
Valuation and Qualifying Accounts Disclosure [Line Items]
Balance at Beginning of Period		$ 48	$ 61.2	$ 172.8
Additions Charged (Benefit) to Costs and Expenses		1.5	(6.8)	(113.1)
Additions Charged to Other Accounts	[1]	1.3	(6.4)	1.5
Balance at End of Period		$ 50.8	$ 48	$ 61.2
[1]	Foreign currency translation and other adjustments