Modine Manufacturing (MOD) 10-K 29 May 20 2020 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($) $ in Millions	12 Months Ended
	Mar. 31, 2020	May 22, 2020	Sep. 30, 2019
Cover [Abstract]
Entity Registrant Name	MODINE MANUFACTURING CO
Entity Central Index Key	0000067347
Current Fiscal Year End Date	--03-31
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Shell Company	false
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Public Float			$ 562
Entity Common Stock, Shares Outstanding		50,823,290
Document Type	10-K
Amendment Flag	false
Document Period End Date	Mar. 31, 2020
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	FY
Document Annual Report	true
Document Transition Report	false
Entity File Number	1-1373
Entity Tax Identification Number	39-0482000
Entity Incorporation, State or Country Code	WI
Entity Address, Address Line One	1500 DeKoven Avenue
Entity Address, City or Town	Racine
Entity Address, State or Province	WI
Entity Address, Postal Zip Code	53403
City Area Code	262
Local Phone Number	636-1200
Title of 12(b) Security	Common Stock, $0.625 par value
Trading Symbol	MOD
Security Exchange Name	NYSE

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Millions, $ in Millions	12 Months Ended
	Mar. 31, 2020		Mar. 31, 2019		Mar. 31, 2018
CONSOLIDATED STATEMENTS OF OPERATIONS [Abstract]
Net sales	$ 1,975.5		$ 2,212.7		$ 2,103.1
Cost of sales	1,668		1,847.2		1,746.6
Gross profit	307.5		365.5		356.5
Selling, general and administrative expenses	249.6		244.1		245.8
Restructuring expenses	12.2		9.6		16
Impairment charges	8.6		0.4		2.5
(Gain) loss on sale of assets	(0.8)		1.7		0
Operating income	37.9		109.7		92.2
Interest expense	(22.7)		(24.8)		(25.6)
Other expense - net	(4.8)		(4.1)		(3.3)
Earnings before income taxes	10.4		80.8		63.3
(Provision) benefit for income taxes	(12.4)		5.1		(39.5)
Net (loss) earnings	(2)		85.9		23.8
Net earnings attributable to noncontrolling interest	(0.2)		(1.1)		(1.6)
Net (loss) earnings attributable to Modine	$ (2.2)	[1]	$ 84.8	[2]	$ 22.2
Net (loss) earnings per share attributable to Modine shareholders:
Basic (in dollars per share)	$ (0.04)		$ 1.67		$ 0.44
Diluted (in dollars per share)	$ (0.04)		$ 1.65		$ 0.43
Weighted-average shares outstanding:
Basic (in shares)	50.8		50.5		49.9
Diluted (in shares)	50.8		51.3		50.9
[1]	During fiscal 2020, restructuring expenses totaled $1.8 million, $2.3 million, $2.6 million, and $5.5 million for the quarters ended June 30, 2019, September 30, 2019, December 31, 2019, and March 31, 2020, respectively (see Note 5).  During the third quarter of fiscal 2020, the Company sold a previously-closed manufacturing facility in Germany and, as a result, recorded a gain of $0.8 million (see Note 1).  During the fourth quarter of fiscal 2020, the Company recorded asset impairment charges totaling $8.6 million related to long-lived assets and goodwill (see Note 5 and Note 14). During fiscal 2020, costs associated with the Company’s review of strategic alternatives for the VTS segment’s automotive business totaled $8.3 million, $11.9 million, $14.0 million, and $5.0 million for the quarters ended June 30, 2019, September 30, 2019, December 31, 2019, and March 31, 2020, respectively. During fiscal 2020, the Company adjusted its valuation allowances on deferred tax assets in the U.S and in Brazil.  As a result, the Company recorded net income tax charges totaling $3.0 million and $4.1 million in the third and fourth quarters, respectively. Also during fiscal 2020, the Company recorded a net income tax charge totaling $2.9 million, $2.7 million of which was recorded in the third quarter, as a result of legal entity restructuring completed in preparation of a potential sale of the automotive business (see Note 7).
[2]	During fiscal 2019, restructuring expenses totaled $0.2 million, $0.5 million, and $8.9 million for the quarters ended June 30, 2018, December 31, 2018, and March 31, 2019, respectively (see Note 5).  During the second quarter of fiscal 2019, the Company sold its South African business within the BHVAC segment and, as a result, recorded a loss of $1.7 million (see Note 1).  During the third quarter of fiscal 2019, the Company recorded a $0.4 million impairment charge related to a manufacturing facility in Austria (see Note 5). During the third and fourth quarter of fiscal 2019, the Company incurred $1.2 million and $5.9 million of costs associated with its review of strategic alternatives for the VTS segment’s automotive business. The Company’s income tax benefit for fiscal 2019 includes net benefits of $24.4 million and net charges of $2.2 million in the second and third quarters, respectively, related to the Tax Act and the recognition of foreign tax credits (see Note 7).  During fiscal 2019, the Company adjusted its valuation allowances on deferred tax assets related to two separate subsidiaries in China and, as a result, recorded a $2.0 million income tax benefit and a $1.0 million income tax charge in the first and second quarters, respectively (see Note 7).

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Millions	12 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Mar. 31, 2018
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME [Abstract]
Net (loss) earnings	$ (2)	$ 85.9	$ 23.8
Other comprehensive income (loss):
Foreign currency translation	(19.2)	(37.6)	41.8
Defined benefit plans, net of income taxes of ($8.3), ($0.3) and ($0.2) million	(24.6)	(1.4)	0.1
Cash flow hedges, net of income taxes of ($0.5), $0.1 and $0.1 million	(1.5)	0.4	0.1
Total other comprehensive income (loss)	(45.3)	(38.6)	42
Comprehensive income (loss)	(47.3)	47.3	65.8
Comprehensive (income) loss attributable to noncontrolling interest	0.2	(0.6)	(2.1)
Comprehensive income (loss) attributable to Modine	$ (47.1)	$ 46.7	$ 63.7

CONSOLIDATED STATEMENTS OF CO_2

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Parenthetical) - USD ($) $ in Millions	12 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Mar. 31, 2018
Other comprehensive income (loss):
Defined benefit plans, tax	$ (8.3)	$ (0.3)	$ (0.2)
Cash flow hedges, tax expense	$ (0.5)	$ 0.1	$ 0.1

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Mar. 31, 2020	Mar. 31, 2019
ASSETS
Cash and cash equivalents	$ 70.9	$ 41.7
Trade accounts receivable - net	292.5	338.6
Inventories	207.4	200.7
Other current assets	62.5	65.8
Total current assets	633.3	646.8
Property, plant and equipment - net	448	484.7
Intangible assets - net	106.3	116.2
Goodwill	166.1	168.5
Deferred income taxes	104.8	97.1
Other noncurrent assets	77.6	24.7
Total assets	1,536.1	1,538
LIABILITIES AND SHAREHOLDERS' EQUITY
Short-term debt	14.8	18.9
Long-term debt - current portion	15.6	48.6
Accounts payable	227.4	280.9
Accrued compensation and employee benefits	65	81.7
Other current liabilities	49.2	39.9
Total current liabilities	372	470
Long-term debt	452	382.2
Deferred income taxes	8.1	8.2
Pensions	130.9	101.7
Other noncurrent liabilities	79.5	34.8
Total liabilities	1,042.5	996.9
Commitments and contingencies (see Note 20)
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 53.4 million and 52.8 million shares	33.3	33
Additional paid-in capital	245.1	238.6
Retained earnings	469.9	472.1
Accumulated other comprehensive loss	(223.3)	(178.4)
Treasury stock, at cost, 2.5 million and 2.1 million shares	(37.1)	(31.4)
Total Modine shareholders' equity	487.9	533.9
Noncontrolling interest	5.7	7.2
Total equity	493.6	541.1
Total liabilities and equity	$ 1,536.1	$ 1,538

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares shares in Millions	Mar. 31, 2020	Mar. 31, 2019
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 share)	$ 0.625	$ 0.625
Common stock, shares authorized (in shares)	80	80
Common stock, shares issued (in shares)	53.4	52.8
Treasury stock at cost (in shares)	2.5	2.1

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions	12 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Mar. 31, 2018
Cash flows from operating activities:
Net (loss) earnings	$ (2)	$ 85.9	$ 23.8
Adjustments to reconcile net (loss) earnings to net cash provided by operating activities:
Depreciation and amortization	77.1	76.9	76.7
Impairment charges	8.6	0.4	2.5
(Gain) loss on sale of assets	(0.8)	1.7	0
Stock-based compensation expense	6.6	7.9	9.5
Deferred income taxes	1	(4.4)	12.1
Other - net	5.6	5.3	9
Changes in operating assets and liabilities:
Trade accounts receivable	36.6	(15.3)	(26.1)
Inventories	(12)	(22)	(12.5)
Accounts payable	(37.7)	16.6	25.2
Accrued compensation and employee benefits	(15.2)	(10.1)	16.4
Other assets	14.7	(11.8)	(5)
Other liabilities	(24.6)	(27.8)	(7.4)
Net cash provided by operating activities	57.9	103.3	124.2
Cash flows from investing activities:
Expenditures for property, plant and equipment	(71.3)	(73.9)	(71)
Proceeds from dispositions of assets	6.2	0.3	0.3
Proceeds from sale of investment in affiliate	3.8	0	0
Proceeds from maturities of short-term investments	4.1	4.9	4.8
Purchases of short-term investments	(3.3)	(3.8)	(5.5)
Other - net	0	(0.3)	(0.2)
Net cash used for investing activities	(60.5)	(72.8)	(71.6)
Cash flows from financing activities:
Borrowings of debt	692.4	231.2	171
Repayments of debt	(649.5)	(251.9)	(222.9)
Dividend paid to noncontrolling interest	(1.3)	(1.8)	(0.9)
Purchase of treasury stock under share repurchase program	(2.4)	(0.6)	0
Financing fees paid	(2.8)	0	0
Other - net	(3.1)	(2.8)	2.7
Net cash provided by (used for) financing activities	33.3	(25.9)	(50.1)
Effect of exchange rate changes on cash	(1.6)	(2.7)	3
Net increase in cash, cash equivalents and restricted cash	29.1	1.9	5.5
Cash, cash equivalents and restricted cash - beginning of year	42.2	40.3	34.8
Cash, cash equivalents and restricted cash - end of year	$ 71.3	$ 42.2	$ 40.3

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
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Adoption of new accounting guidance (Note 1) | Stock-Based Compensation [Member]	$ 0	$ 0.1	$ 0.3	$ 0	$ 0	$ 0	$ 0.4
Balance at Mar. 31, 2017	$ 32.4	216.4	372.4	(181.8)	(25.4)	7.2	421.2
Balance (in shares) at Mar. 31, 2017	51.8
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net (loss) earnings attributable to Modine	$ 0	0	22.2	0	0	0	22.2
Other comprehensive income (loss)	0	0	0	41.5	0	0.5	42
Stock options and awards	$ 0.3	3.9	0	0	0	0	4.2
Stock options and awards (in shares)	0.5
Purchase of treasury stock	$ 0	0	0	0	(1.7)	0	(1.7)
Stock-based compensation expense	0	9.5	0	0	0	0	9.5
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	1.6	1.6
Balance at Mar. 31, 2018	$ 32.7	229.9	394.9	(140.3)	(27.1)	8.4	498.5
Balance (in shares) at Mar. 31, 2018	52.3
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Adoption of new accounting guidance (Note 1) | Revenue Recognition [Member]	$ 0	0	(7.6)	0	0	0	(7.6)
Net (loss) earnings attributable to Modine	0	0	84.8	0	0	0	84.8	[1]
Other comprehensive income (loss)	0	0	0	(38.1)	0	(0.5)	(38.6)
Stock options and awards	$ 0.3	0.8	0	0	0	0	1.1
Stock options and awards (in shares)	0.5
Purchase of treasury stock	$ 0	0	0	0	(4.3)	0	(4.3)
Stock-based compensation expense	0	7.9	0	0	0	0	7.9
Dividend paid to noncontrolling interest	0	0	0	0	0	(1.8)	(1.8)
Net earnings attributable to noncontrolling interest	0	0	0	0	0	1.1	1.1
Balance at Mar. 31, 2019	$ 33	238.6	472.1	(178.4)	(31.4)	7.2	$ 541.1
Balance (in shares) at Mar. 31, 2019	52.8						52.8
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net (loss) earnings attributable to Modine	$ 0	0	(2.2)	0	0	0	$ (2.2)	[2]
Other comprehensive income (loss)	0	0	0	(44.9)	0	(0.4)	(45.3)
Stock options and awards	$ 0.3	(0.1)	0	0	0	0	0.2
Stock options and awards (in shares)	0.6
Purchase of treasury stock	$ 0	0	0	0	(5.7)	0	(5.7)
Stock-based compensation expense	0	6.6	0	0	0	0	6.6
Dividend paid to noncontrolling interest	0	0	0	0	0	(1.3)	(1.3)
Net earnings attributable to noncontrolling interest	0	0	0	0	0	0.2	0.2
Balance at Mar. 31, 2020	$ 33.3	$ 245.1	$ 469.9	$ (223.3)	$ (37.1)	$ 5.7	$ 493.6
Balance (in shares) at Mar. 31, 2020	53.4						53.4
[1]	During fiscal 2019, restructuring expenses totaled $0.2 million, $0.5 million, and $8.9 million for the quarters ended June 30, 2018, December 31, 2018, and March 31, 2019, respectively (see Note 5).  During the second quarter of fiscal 2019, the Company sold its South African business within the BHVAC segment and, as a result, recorded a loss of $1.7 million (see Note 1).  During the third quarter of fiscal 2019, the Company recorded a $0.4 million impairment charge related to a manufacturing facility in Austria (see Note 5). During the third and fourth quarter of fiscal 2019, the Company incurred $1.2 million and $5.9 million of costs associated with its review of strategic alternatives for the VTS segment’s automotive business. The Company’s income tax benefit for fiscal 2019 includes net benefits of $24.4 million and net charges of $2.2 million in the second and third quarters, respectively, related to the Tax Act and the recognition of foreign tax credits (see Note 7).  During fiscal 2019, the Company adjusted its valuation allowances on deferred tax assets related to two separate subsidiaries in China and, as a result, recorded a $2.0 million income tax benefit and a $1.0 million income tax charge in the first and second quarters, respectively (see Note 7).
[2]	During fiscal 2020, restructuring expenses totaled $1.8 million, $2.3 million, $2.6 million, and $5.5 million for the quarters ended June 30, 2019, September 30, 2019, December 31, 2019, and March 31, 2020, respectively (see Note 5).  During the third quarter of fiscal 2020, the Company sold a previously-closed manufacturing facility in Germany and, as a result, recorded a gain of $0.8 million (see Note 1).  During the fourth quarter of fiscal 2020, the Company recorded asset impairment charges totaling $8.6 million related to long-lived assets and goodwill (see Note 5 and Note 14). During fiscal 2020, costs associated with the Company’s review of strategic alternatives for the VTS segment’s automotive business totaled $8.3 million, $11.9 million, $14.0 million, and $5.0 million for the quarters ended June 30, 2019, September 30, 2019, December 31, 2019, and March 31, 2020, respectively. During fiscal 2020, the Company adjusted its valuation allowances on deferred tax assets in the U.S and in Brazil.  As a result, the Company recorded net income tax charges totaling $3.0 million and $4.1 million in the third and fourth quarters, respectively. Also during fiscal 2020, the Company recorded a net income tax charge totaling $2.9 million, $2.7 million of which was recorded in the third quarter, as a result of legal entity restructuring completed in preparation of a potential sale of the automotive business (see Note 7).

Significant Accounting Policies

Significant Accounting Policies	12 Months Ended
	Mar. 31, 2020
Significant Accounting Policies [Abstract]
Significant Accounting Policies	Note 1: Significant Accounting Policies Nature of operations: COVID-19: In March 2020, the World Health Organization declared the outbreak of the novel coronavirus, COVID-19, a pandemic. See Note 20 for additional information . Sale of facility in Germany: During fiscal 2020, the Company completed the sale of a previously-closed manufacturing facility in Germany for a selling price of $ million. As a result of this transaction, the Company recorded a gain of $ million within the Vehicular Thermal Solutions segment. The Company reported this gain within the gain on sale of assets line on the consolidated statements of operations. Sale of Nikkei Heat Exchanger Company, Ltd. (“NEX”) : During fiscal 2020, the Company completed the sale of its ownership interest in NEX for a selling price of $ million. As a result of this sale, the Company recorded a gain of $ million, which included the write-off of accumulated foreign currency translation gains of $ million, within other income and expense on the consolidated statements of operations. Prior to its sale, the Company accounted for its investment in NEX using the equity method. Utilizing the equity method, the Company reported its investment at cost, plus or minus a proportionate share of undistributed net earnings, and included Modine’s share of the affiliate’s net earnings in other income and expense. See Note 12 for additional information. Sale of AIAC Air Conditioning South Africa (Pty) Ltd. Basis of presentation: Consolidation principles: Revenue recognition: Shipping and handling costs: Trade accounts receivable: Warranty: Tooling costs: Stock-based compensation: Research and development: Translation of foreign currencies: Derivative instruments: Income taxes: Earnings per share: Cash and cash equivalents: Short-term investments: Inventories: Property, plant and equipment Goodwill: The Company performed its goodwill impairment test as of March 31, 2020 and, as a result, recorded a $ million impairment charge within the VTS segment. See Note 14 for additional information. Impairment of long-lived assets: Assets held for sale: Deferred compensation trusts: Self-insurance reserves: Environmental liabilities: S upplemental cash flow information: Years ended March 31, 2020 2019 2018 Interest paid $ 21.4 $ 22.3 $ 23.4 Income taxes paid 18.8 22.2 20.1 New Accounting Guidance Adopted in Fiscal 2020: Leases In February 2016, the Financial Accounting Standards Board (“FASB”) issued new comprehensive lease accounting guidance that supersedes existing lease accounting guidance and requires balance sheet recognition for most leases. The Company adopted this guidance effective April 1, 2019 using a modified-retrospective transition method, under which it elected not to adjust comparative periods. The Company elected the package of practical expedients permitted under the new guidance, and, as a result, the Company did not reassess the classification of existing leases or initial direct costs thereof, or whether existing contracts contain leases. In addition, the Company elected accounting policies to not record short-term leases on the balance sheet and to not separate lease and non-lease components. The Company did not elect the hindsight practical expedient. The Company assessed its global lease portfolio and implemented a new lease accounting software solution and new processes and controls to account for leases in accordance with the new guidance. The Company’s most significant leases represent leases of real estate, such as manufacturing facilities, warehouses, and office buildings. The Company also leases certain manufacturing and IT equipment and vehicles. Upon adoption of this new guidance on April 1, 2019, the Company recognized right-of-use assets for operating leases totaling $61.3 million and corresponding current and noncurrent operating lease liabilities of $12.4 million and $48.9 million, respectively. In addition, the Company assessed two existing build-to-suit arrangements, for which it had recorded property, plant and equipment and long-term debt on its consolidated balance sheet as of March 31, 2019. The Company determined these arrangements represent operating leases under the new accounting guidance. As a result, the Company derecognized the previously-recorded balances and recorded $5.2 million of operating lease right-of-use assets and corresponding lease liabilities. As a result of adopting the new guidance, there was not a significant impact on the Company’s accounting for its previously-recorded capital leases, which are now classified as finance leases under the new guidance. In addition, there was no impact to retained earnings. Also, the adoption did not have a material impact on the Company’s consolidated statement of operations or consolidated statement of cash flows. See Note 16 for additional information regarding the Company’s leases. Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income In February 2018, the FASB issued new guidance related to the accounting for certain stranded income tax effects in accumulated other comprehensive income (loss) resulting from tax reform legislation that was enacted in the U.S. in December 2017. This guidance provided companies the option to reclassify stranded income tax effects to retained earnings. The Company adopted this guidance as of April 1, 2019 and chose not to reclassify stranded income tax effects; therefore, the adoption of this guidance did not impact the Company’s consolidated financial statements. New Accounting Guidance Adopted in Fiscal 2019: Revenue Recognition 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 Company adopted this new guidance for fiscal 2019 using the modified-retrospective transition method. The Company assessed customer contracts and evaluated contractual provisions in light of the new guidance. Through its evaluation process, the Company identified a limited number of customer contracts that provide an enforceable right to payment for customized products, which require revenue recognition prior to the product being shipped to the customer. As a result of its adoption of the new guidance, the Company recorded an increase of $0.7 million to retained earnings as of April 1, 2018, along with related balance sheet reclassifications. The increase to retained earnings represented $3.0 million of net sales that, had the new guidance been in effect, the Company would have recognized as of March 31, 2018. See Note 2 for additional information regarding revenue recognition. Income Taxes: Intra-Entity Transfers of Assets Other than Inventory In October 2016, the FASB issued new guidance related to income tax accounting for intercompany asset transfers. This new guidance requires companies to recognize the income tax effects of intercompany asset transfers other than inventory at the transaction date. The income tax effects of these transfers were previously deferred. The Company adopted this new guidance for fiscal 2019 using the modified-retrospective transition method. Upon adoption, the Company recorded a decrease to retained earnings of $8.3 million as of April 1, 2018. New Accounting Guidance Adopted in Fiscal 2018: Stock-based Compensation In March 2016, the FASB issued new guidance to simplify several aspects of accounting for stock-based payment transactions. The Company adopted this guidance beginning in its first quarter of fiscal 2018. The Company elected to account for forfeitures in the period in which they occur and recorded a cumulative-effect adjustment to equity. In addition, the Company prospectively adopted the guidance requiring all excess tax benefits or deficiencies to be recognized as income tax expense or benefit when share-based awards are settled. The provisions of this guidance did not have a material impact on the Company's consolidated financial statements. As a result of adopting this new guidance, the Company recorded a $0.4 million increase to both deferred tax assets and equity as of April 1, 2017.

Revenue Recognition

Revenue Recognition	12 Months Ended
	Mar. 31, 2020
Revenue Recognition [Abstract]
Revenue Recognition	Note 2: Revenue Recognition Effective April 1, 2018, the Company adopted new revenue recognition accounting guidance ; see Note 1 for additional information . The Company generates revenue from selling innovative thermal management products and solutions to diversified global markets and customers. The Company recognizes revenue based upon consideration specified in a contract and as it satisfies performance obligations by transferring control over its products to its customers, which may be at a point in time or over time. The majority of the Company’s revenue is recognized at a point in time, based upon shipment terms. The Company records an allowance for doubtful accounts for estimated uncollectible receivables and accrues for estimated warranty costs at the time of sale. These estimates are based upon historical experience, current business trends, and current economic conditions. The Company accounts for shipping and handling activities as fulfilment costs rather than separate performance obligations, and records shipping and handling costs in cost of sales and related amounts billed to customers in net sales. The Company establishes payment terms with its customers based upon industry and regional practices, which typically do not exceed 90 days. As the Company expects to receive payment from its customers within one year from the time of sale, it disregards the effects of the time value of money in its determination of the transaction price. The Company has not disclosed the value of unsatisfied performance obligations because the revenue associated with customer contracts for which the original expected performance period is greater than one year is immaterial. The following is a description of the Company’s principal revenue-generating activities: Vehicular Thermal Solutions (“VTS”) The VTS segment principally generates revenue from providing engineered heat transfer systems and components for use in on- and off-highway original equipment. This segment provides powertrain and engine cooling products, including, but not limited to, radiators, charge air coolers, condensers, oil coolers, EGR coolers, and fuel coolers, to original equipment manufacturers (“OEMs”) in the automotive, commercial vehicle, and off-highway markets in the Americas, Europe, and Asia regions. In addition, the VTS segment designs customer-owned tooling for OEMs and also serves Brazil’s automotive and commercial vehicle aftermarkets. While the VTS segment provides customized production and service parts to customers under multi-year programs, these programs typically do not contain contractually-guaranteed volumes to be purchased by the customer. As a result, individual purchase orders typically represent the quantities ordered by the customer. With the exception of a small number of VTS customers, the terms within the customer agreement, purchase order, or customer-owned tooling contract do not provide the Company with an enforceable right to payment for performance completed to date. As a result, the VTS segment recognizes revenue primarily at the time control is transferred to the customer based upon shipping terms, which is generally upon shipment. In regard to VTS customers with contractual cancellation terms that provide an enforceable right to payment for performance completed to date, the Company recognizes revenue over time based upon its estimated progress towards satisfaction of the performance obligations. The VTS segment measures progress by evaluating the production status of ordered products not yet shipped to the customer. For certain customer programs, the Company agrees to provide annual price reductions based upon contract terms. For these scheduled price reductions, the Company evaluates whether the provisions represent a material right to the customer, and if so, defers associated revenue as a result. At times, the Company makes up-front incentive payments to certain customers related to future sales under multi-year programs. The Company capitalizes these incentive payments, which it expects to recover through future sales, and amortizes the assets as a reduction to revenue when the related products are sold to customers. Commercial and Industrial Solutions (“CIS”) The CIS segment principally generates revenue from providing thermal management products, including customized coils and coolers, to the heating, ventilating, air conditioning, and refrigeration (“HVAC&R”) markets in North America, Europe, and Asia. In addition, the segment applies corrosion protection solutions, which are referred to as coatings, to heat-transfer equipment. For the sale of coils and coolers, individual customer purchase orders generally represent the Company’s contract with its customers. With the exception of a small number of customers, the applicable customer contracts do not provide the Company with an enforceable right to payment for performance completed to date. As a result, the CIS segment recognizes revenue for its sale of coils and coolers primarily at the time control is transferred to the customer based upon shipping terms, which is generally upon shipment. For both sales to customers whose contract cancellation terms provide an enforceable right to payment and sales from the coatings businesses, in which the customers control the heat-transfer equipment being enhanced by the coating application, the CIS segment recognizes revenue over time based upon its estimated progress towards satisfaction of the performance obligations. The segment measures progress by evaluating the production status towards completion of ordered products or services not yet shipped to its customers. Building HVAC Systems (“BHVAC”) The BHVAC segment principally generates revenue from providing a variety of heating, ventilating, and air conditioning products, primarily for commercial buildings and related applications in North America and the U.K., as well as mainland Europe and the Middle East. Heating products are manufactured in the U.S. and are generally sold to independent distributors, who in turn market the heating products to end customers. Because these products are sold to many different customers without contractual or practical limitations, the BHVAC segment recognizes revenue at the time control is transferred to the customer, generally the independent distributor, based upon shipping terms, which is generally upon shipment. Ventilation and air conditioning products are highly-specified to a customer’s needs; however, the underlying sales contracts do not provide the Company with an enforceable right to payment for performance completed to date. As a result, the BHVAC segment recognizes revenue for these products at the time control is transferred to the customer based upon shipping terms, which is generally upon shipment. Disaggregation of Revenue The table below presents revenue to external customers for each of the Company’s business segments by primary end market, by geographic location and based upon the timing of revenue recognition: Year ended March 31, 2020 Year ended March 31, 2019 VTS CIS BHVAC Segment Total VTS CIS BHVAC Segment Total Primary end market: Automotive $ 508.8 $ - $ - $ 508.8 $ 542.8 $ - $ - $ 542.8 Commercial vehicle 323.7 - - 323.7 387.6 - - 387.6 Off-highway 253.9 - - 253.9 314.1 - - 314.1 Commercial HVAC&R - 463.1 176.6 639.7 - 506.3 167.7 674.0 Data center cooling - 107.5 42.7 150.2 - 145.7 41.3 187.0 Industrial cooling - 43.5 - 43.5 - 47.8 - 47.8 Other 90.8 9.8 1.8 102.4 107.2 7.8 3.4 118.4 Net sales $ 1,177.2 $ 623.9 $ 221.1 $ 2,022.2 $ 1,351.7 $ 707.6 $ 212.4 $ 2,271.7 Geographic location: Americas $ 554.4 $ 345.9 $ 139.1 $ 1,039.4 $ 613.7 $ 413.6 $ 124.9 $ 1,152.2 Europe 449.3 232.6 82.0 763.9 538.2 244.8 87.5 870.5 Asia 173.5 45.4 - 218.9 199.8 49.2 - 249.0 Net sales $ 1,177.2 $ 623.9 $ 221.1 $ 2,022.2 $ 1,351.7 $ 707.6 $ 212.4 $ 2,271.7 Timing of revenue recognition: Products transferred at a point in time $ 1,146.4 $ 518.2 $ 221.1 $ 1,885.7 $ 1,308.5 $ 571.1 $ 212.4 $ 2,092.0 Products transferred over time 30.8 105.7 - 136.5 43.2 136.5 - 179.7 Net sales $ 1,177.2 $ 623.9 $ 221.1 $ 2,022.2 $ 1,351.7 $ 707.6 $ 212.4 $ 2,271.7 Contract Balances Contract assets and contract liabilities from contracts with customers were as follows: March 31, 2020 March 31, 2019 Contract assets $ 21.7 $ 22.6 Contract liabilities 5.6 4.0 Contract assets, included within other current assets in the consolidated balance sheets, primarily consist of capitalized costs related to customer-owned tooling contracts, wherein the customer has guaranteed reimbursement, and assets recorded for revenue recognized over time, which represent the Company’s rights to consideration for work completed but not yet billed. The $ million decrease in contract assets during fiscal 2020 primarily resulted from a decrease in capitalized costs related to customer-owned tooling contracts, partially offset by an increase in contract assets for revenue recognized over time. Contract liabilities, included within other current liabilities in the consolidated balance sheets, consist of payments received in advance of satisfying performance obligations under customer contracts, including contracts for customer-owned tooling. The $ million increase in contract liabilities during fiscal 2020 was primarily related to customer contracts for which payment had been received in advance of the Company’s satisfaction of performance obligations.

Fair Value Measurements

Fair Value Measurements	12 Months Ended
	Mar. 31, 2020
Fair Value Measurements [Abstract]
Fair Value Measurements	Note 3: 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, the Company determines fair value 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, cash equivalents, restricted cash, 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 investments in deferred compensation trusts to fund obligations under certain non-qualified deferred compensation plans. The Company records the fair value of these investments within other noncurrent assets on its consolidated balance sheets. The Company classifies money market investments held by the trusts within Level 2 of the valuation hierarchy. The Company classifies all other investments held by the trusts within Level 1 of the valuation hierarchy, as it uses quoted market prices to determine the investments’ fair value. 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 investments and obligations for the Company’s deferred compensation plans each totaled $3.8 million and $6.0 million as of March 31, 2020 and 2019, respectively. The $2.2 million decrease in the fair value of the investments and deferred compensation obligations from March 31, 2019 was primarily due to participant withdrawals during fiscal 2020. The fair value of the Company’s long-term debt is disclosed in Note 17. Plan assets related to the Company’s pension plans were classified as follows: March 31, 2020 Level 1 Level 2 Total Money market investments $ - $ 2.4 $ 2.4 Fixed income securities - 8.7 8.7 Pooled equity funds 17.9 - 17.9 U.S. government and agency securities - 13.1 13.1 Other 0.1 0.7 0.8 Fair value excluding investments measured at net asset value 18.0 24.9 42.9 Investments measured at net asset value 88.2 Total fair value $ 131.1 March 31, 2019 Level 1 Level 2 Total Money market investments $ - $ 3.9 $ 3.9 Fixed income securities - 9.4 9.4 Pooled equity funds 27.7 - 27.7 U.S. government and agency securities - 12.3 12.3 Other 0.1 0.9 1.0 Fair value excluding investment measured at net asset value 27.8 26.5 54.3 Investment measured at net asset value 100.8 Total fair value $ 155.1 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 pooled equity funds based upon quoted prices from active markets and classified them within Level 1 of the valuation hierarchy. The Company determined the fair value of certain fixed income securities 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, 2020 and 2019, the Company held no Level 3 assets within its pension plans. As a practical expedient, the Company valued certain investments, including pooled equity, fixed income and a real estate fund, using their net asset value (NAV) per unit, and therefore, has not classified these investments within the fair value hierarchy. The terms and conditions for redemptions vary for the investments valued at NAV. The real estate and fixed income investment funds may be redeemed quarterly and monthly, respectively, with a 90-day and 60-day notice period, respectively. Other investments valued at NAV do not have significantly-restrictive redemption frequency or notice period requirements. The Company does not intend to sell or otherwise dispose of these investments at prices different than the NAV per unit.

Stock-Based Compensation

Stock-Based Compensation	12 Months Ended
	Mar. 31, 2020
Stock-Based Compensation [Abstract]
Stock-Based Compensation	Note 4: Stock-Based Compensation The Company’s stock-based incentive programs consist of the following: (1) a long-term incentive compensation program for officers and other executives that consists of stock awards, stock options, and performance-based stock awards granted for retention and performance, (2) a discretionary equity program for other management and key employees, and (3) stock awards 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 stock-based awards. Grants to employees during fiscal 2020 were issued under the Company’s 2017 Incentive Compensation Plan. At present, the Company accomplishes the fulfillment of equity-based grants through the issuance of new common shares. As of March 31, 2020, approximately 1.8 million shares authorized under the 2017 Incentive Compensation 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 $6.6 million, $7.9 million, and $9.5 million in fiscal 2020, 2019, and 2018, 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: Years ended March 31, 2020 2019 2018 Fair value of options $ 5.56 $ 7.81 $ 7.30 Expected life of awards in years 6.3 6.3 6.4 Risk-free interest rate 2.2 % 2.8 % 1.9 % Expected volatility of the Company's stock 39.2 % 39.7 % 44.3 % 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 Modine’s common stock on the date of grant. The risk-free interest rate was based upon 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 upon 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 upon historical patterns and the terms of the options. Outstanding options granted vest 25 percent annually for four years. A summary of stock option activity for fiscal 2020 was as follows: Shares Weighted-average Weighted-average remaining contractual term (years) Aggregate intrinsic value Outstanding, beginning 1.2 $ 12.24 Granted 0.3 13.26 Exercised - 7.13 Forfeited or expired (0.1 ) 12.68 Outstanding, ending 1.4 $ 12.49 5.6 $ - Exercisable, March 31, 2020 0.9 $ 11.28 3.9 $ - Aggregate intrinsic value represents the difference between the closing price of Modine’s common shares on the last trading day of fiscal 2020 over the exercise price of the stock options, multiplied by the number of options outstanding or exercisable. As of March 31, 2020, the exercise price of outstanding options exceeded the closing price of Modine common shares and, as a result, the options had no intrinsic value. Additional information related to stock options exercised is as follows: Years ended March 31, 2020 2019 2018 Intrinsic value of stock options exercised $ 0.1 $ 0.7 $ 4.9 Proceeds from stock options exercised 0.1 1.1 4.3 Restricted Stock: A summary of restricted stock activity for fiscal 2020 was as follows: Shares Weighted-average price Non-vested balance, beginning 0.5 $ 14.95 Granted 0.4 13.54 Vested (0.3 ) 14.02 Forfeited (0.1 ) 14.99 Non-vested balance, ending 0.5 $ 14.48 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. The performance components of the programs initiated in fiscal 2020 and 2019 are based upon both a target three-year average consolidated cash flow return on invested capital 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. The performance components of the program initiated in fiscal 2018 are based upon both a target three-year average consolidated return on capital employed and a target three-year average annual revenue growth at the end of a three-year performance period.

Restructuring Activities

Restructuring Activities	12 Months Ended
	Mar. 31, 2020
Restructuring Activities [Abstract]
Restructuring Activities	Note 5: Restructuring Activities During fiscal 2020 and 2019, restructuring actions consisted primarily of targeted headcount reductions and plant consolidation activities. The headcount reductions were primarily in Europe and the Americas within the VTS segment and support the Company’s objective to reduce operational and SG&A cost structures. Also, the Company is in the process of transferring product lines to its CIS manufacturing facility in Mexico in order to achieve operational improvements and organizational efficiencies. During fiscal 2018, the Company ceased production at its Gailtal, Austria manufacturing facility, primarily to reduce excess capacity and lower manufacturing costs in Europe. As a result of this facility closure, the Company recorded $8.3 million of restructuring expenses within the CIS segment, primarily related to employee severance and related benefits. Fiscal 2018 restructuring activities also included plant consolidation activities, targeted headcount reductions, and certain product line transfers in Europe within the VTS segment. In addition, the Company recorded restructuring expenses associated with the discontinuance of its geothermal product line within the BHVAC segment. During fiscal 2021, the Company approved headcount reductions in the VTS and CIS segments and, as a result, expects to record approximately $4.0 million of severance expenses during the first quarter of fiscal 2021. Restructuring and repositioning expenses were as follows: Years ended March 31, 2020 2019 2018 Employee severance and related benefits $ 10.2 $ 8.7 $ 13.0 Other restructuring and repositioning expenses 2.0 0.9 3.0 Total $ 12.2 $ 9.6 $ 16.0 Other restructuring and repositioning expenses primarily consist of equipment transfer and plant consolidation costs. 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, 2020 2019 Beginning balance $ 10.0 $ 11.0 Additions 10.2 8.7 Payments (15.1 ) (9.1 ) Effect of exchange rate changes (0.1 ) (0.6 ) Ending balance $ 5.0 $ 10.0 During fiscal 2020, the Company identified potential impairment indicators related to manufacturing facilities in Austria and Germany within the VTS segment. The Company anticipates the future cash flows of these asset groups will be negatively impacted by planned wind downs of certain commercial vehicle and automotive programs. In response, the Company performed an impairment evaluation and recorded asset impairment charges totaling $7.5 million within its VTS segment to write down property and equipment assets to fair value. The Company determined fair value using Level 3 inputs, primarily consisting of appraisals, which considered the market rental value, market conditions, physical condition of the assets, salability in the marketplace and estimated scrap values, based on the specialized nature of the machinery and equipment. Also during fiscal 2020, the Company recorded a $0.6 million impairment charge to reduce the carrying value of the previously-closed CIS Austrian facility to its current estimated fair value, less costs to sell. During fiscal 2019 and 2018, the Company recorded asset impairment charges of $0.4 million and $1.3 million, respectively, related to this closed facility.

Other Income and Expense

Other Income and Expense	12 Months Ended
	Mar. 31, 2020
Other Income and Expense [Abstract]
Other Income and Expense	Note 6: Other Income and Expense Other income and expense consisted of the following: Years ended March 31, 2020 2019 2018 Equity in earnings of non-consolidated affiliate (a) $ 0.2 $ 0.7 $ 0.2 Interest income 0.4 0.4 0.4 Foreign currency transactions (b) (2.4 ) (2.3 ) (0.6 ) Net periodic benefit cost (c) (3.0 ) (2.9 ) (3.3 ) Total other expense - net $ (4.8 ) $ (4.1 ) $ (3.3 ) (a) During fiscal 2020, the Company sold its ownership interest in Nikkei Heat Exchanger Company, Ltd. As a result of the sale, the Company recorded a gain of $ million, which is included within the fiscal 2020 amount. See Note 12 for additional information. (b) 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. (c) Net periodic benefit cost for the Company’s pension and postretirement plans is exclusive of service cost.

Income Taxes

Income Taxes	12 Months Ended
	Mar. 31, 2020
Income Taxes [Abstract]
Income Taxes	Note 7: Income Taxes The U.S. and foreign components of earnings before income taxes and the provision or benefit for income taxes consisted of the following: Years ended March 31, 2020 2019 2018 Components of earnings (loss) before income taxes: United States $ (26.1 ) $ 22.4 $ 2.5 Foreign 36.5 58.4 60.8 Total earnings before income taxes $ 10.4 $ 80.8 $ 63.3 Income tax provision (benefit): Federal: Current $ (3.4 ) $ (20.4 ) $ 11.6 Deferred (1.7 ) (4.2 ) 23.3 State: Current (0.1 ) 0.7 (0.3 ) Deferred (2.3 ) 1.9 2.0 Foreign: Current 14.9 19.0 16.1 Deferred 5.0 (2.1 ) (13.2 ) Total income tax provision (benefit) $ 12.4 $ (5.1 ) $ 39.5 On December 22, 2017, the U.S. government enacted comprehensive tax legislation commonly referred to as the Tax Act. Shortly after the Tax Act was enacted, the SEC issued accounting guidance which provided a one-year measurement period during which a company could complete its accounting for the impacts of the Tax Act. To the extent a company’s accounting for certain income tax effects of the Tax Act was incomplete, the company could determine a reasonable estimate for those effects and record a provisional estimate in its financial statements. If a company could not determine a provisional estimate to be included in the financial statements, it was to continue applying the provisions of the tax laws that were in effect immediately prior to the Tax Act being enacted. During fiscal 2018, the Company recorded provisional discrete tax charges totaling $38.0 million related to the Tax Act. The Company adjusted its U.S. deferred tax assets by $19.0 million due to the reduction in the U.S. federal corporate tax rate. This net reduction in deferred tax assets also included the estimated impact on the Company’s net state deferred tax assets. In addition, the Company recorded a $19.0 million charge for the transition tax required under the Tax Act. During fiscal 2019, the Company completed its accounting for the Tax Act, which resulted in an income tax benefit totaling $7.7 million. The Company utilized its deferred tax attributes against the transition tax and finalized its fiscal 2018 U.S. federal income tax return. As a result, the Company decreased the provisional charge recorded for the reduction in the U.S. federal corporate tax rate by $9.3 million, since more deferred tax assets were utilized to offset taxable income at a higher fiscal 2018 U.S. federal corporate tax rate. The Company also decreased the transition tax liability to $18.9 million, a reduction of $0.1 million. In addition, the Company recorded a charge of $1.7 million for a reduction to state deferred tax assets. The Tax Act included a new provision designed to tax global intangible low taxed income (“GILTI”) starting in fiscal 2019. The Company elected to record the tax effects of the GILTI provision as a period expense in the applicable tax year. To determine whether its net operating loss carryforward deferred tax assets are expected to be realized, the Company considers the applicable tax law ordering. Based upon this approach, net operating loss carryforwards are deemed to be realizable if they will reduce the expected tax liability when utilized, regardless of whether the 50% GILTI deduction or applicable tax credits may have been available. The Company’s accounting policy is to allocate the income tax provision between net earnings and other comprehensive income. The Company applies its accounting for income taxes by tax jurisdiction, and in periods in which there is a loss before income taxes and pre-tax income in other comprehensive income, it first allocates the income tax provision to other comprehensive income, and then records a related tax benefit in the income tax provision. The reconciliation between the U.S. federal statutory rate and the Company’s effective tax rate was as follows: Years ended March 31, 2020 2019 2018 Statutory federal tax 21.0 % 21.0 % 31.5 % State taxes, net of federal benefit (12.0 ) 3.6 2.9 Taxes on non-U.S. earnings and losses 32.9 3.9 (3.8 ) Valuation allowances 156.9 4.0 (5.6 ) Tax credits (36.7 ) (26.1 ) (17.3 ) Compensation 4.0 (0.1 ) (0.8 ) Tax rate or law changes 3.6 (12.0 ) 60.1 Uncertain tax positions, net of settlements (37.9 ) 0.4 (0.8 ) Notional interest deductions (12.5 ) (2.5 ) (3.2 ) Dividends and taxable foreign inclusions (11.0 ) 1.6 0.2 Other 10.9 (0.1 ) (0.8 ) Effective tax rate 119.2 % (6.3 %) 62.4 % During fiscal 2020, the Company recorded net income tax charges totaling $ million as a result of legal entity restructuring completed in preparation of a potential sale of the automotive business and a $ million income tax benefit resulting from the recognition of a tax incentive in Italy. Also in fiscal 2020, the Company changed its determination of whether it was more likely than not certain deferred tax assets in the U.S. and in a foreign jurisdiction would be realized and, as a result, adjusted the respective valuation allowances and recorded an income tax charge of $ million and an income tax benefit of $ million, respectively. In addition, the Company recorded a net increase of deferred tax asset valuation allowances totaling $ million related to other tax jurisdictions and recorded a $ million income tax benefit associated with the reduction in unrecognized tax benefits resulting from a lapse in statutes of limitations and settlements. During fiscal 2019, the Company recorded income tax benefits totaling $7.7 million related to the Tax Act, as discussed above; recorded income tax benefits totaling $14.5 million as a result of amending previous-year tax returns to recognize foreign tax credits that are expected to be realized based upon future sources of income; and recorded a $2.5 million income tax benefit related to a manufacturing deduction in the United States. Also in fiscal 2019, the Company changed its determination of whether it was more likely than not certain deferred tax assets of two separate subsidiaries in a foreign jurisdiction would be realized and, as a result, adjusted the respective valuation allowances and recorded an income tax benefit totaling $1.0 million. In addition, the Company recorded a net increase of deferred tax asset valuation allowances totaling $4.3 million related to other tax jurisdictions and recorded a $2.2 million income tax benefit associated with the reduction in unrecognized tax benefits resulting from a lapse in statutes of limitations. During fiscal 2018, the Company recorded provisional charges totaling $38.0 million related to the Tax Act, as discussed above, and recognized a $9.0 million Hungarian development tax credit. Also in fiscal 2018, the Company reversed a portion of the valuation allowance on certain deferred tax assets in a foreign jurisdiction after determining it was more likely than not these assets would be realized, and, as a result, recorded an income tax benefit of $2.8 million. In addition, the Company recorded a $1.8 million income tax benefit in fiscal 2018 associated with the reduction in unrecognized tax benefits resulting from a lapse in statutes of limitations. The Company has recorded valuation allowances against its net deferred tax assets to the extent it has determined it is more likely than not that such assets will not be realized in the future. The Company will maintain the valuation allowances in each applicable tax jurisdiction until it determines it is more likely than not the deferred tax assets will be realized, thereby eliminating the need for a valuation allowance. As further discussed in Note 20, the COVID-19 pandemic has resulted in risks and uncertainties to our business. Future events or circumstances, such as lower taxable income or unfavorable changes in the financial outlook of the Company’s operations in certain jurisdictions, could necessitate the establishment of further valuation allowances, which could have a material adverse effect on the Company’s results of operations and financial condition . The tax effects of temporary differences that gave rise to deferred tax assets and liabilities were as follows: March 31, 2020 2019 Deferred tax assets: Accounts receivable $ 0.3 $ 0.2 Inventories 4.5 3.4 Plant and equipment 4.7 1.8 Lease liabilities 15.7 - Pension and employee benefits 45.1 32.7 Net operating and capital losses 70.2 73.5 Credit carryforwards 56.8 60.3 Other, principally accrued liabilities 8.1 10.0 Total gross deferred tax assets 205.4 181.9 Less: valuation allowances (46.9 ) (43.4 ) Net deferred tax assets 158.5 138.5 Deferred tax liabilities: Plant and equipment 13.1 15.1 Lease assets 15.6 - Goodwill 4.8 4.8 Intangible assets 26.4 28.8 Other 1.9 0.9 Total gross deferred tax liabilities 61.8 49.6 Net deferred tax assets $ 96.7 $ 88.9 Unrecognized tax benefits were as follows: Years ended March 31, 2020 2019 Beginning balance $ 13.8 $ 13.6 Gross increases - tax positions in prior period 0.3 1.6 Gross decreases - tax positions in prior period (1.0 ) (0.2 ) Gross increases - tax positions in current period 1.1 1.1 Settlements (2.1 ) (0.1 ) Lapse of statute of limitations (2.4 ) (2.2 ) Ending balance $ 9.7 $ 13.8 The Company’s liability for unrecognized tax benefits as of March 31, 2020 was $9.7 million, and if recognized, $7.9 million would have an effective tax rate impact. The Company estimates a $0.6 million decrease in unrecognized tax benefits during fiscal 2021 due to lapses in statutes of limitations and settlements. If recognized, these reductions would not have a significant impact on the Company’s effective tax rate. The Company recognizes interest and penalties related to unrecognized tax benefits as a component of income tax expense. During fiscal 2020 and 2019, interest and penalties included within income tax expense in the consolidated statements of operations were not significant. At March 31, 2020 and 2019, accrued interest and penalties totaled $0.5 million and $1.1 million, respectively. The Company files income tax returns in multiple jurisdictions and is subject to examination by taxing authorities throughout the world. At March 31, 2020, the Company was under income tax examination in a number of jurisdictions. The following tax years remain subject to examination for the Company’s major tax jurisdictions: Germany Fiscal 2011 - Fiscal 2019 Italy Calendar 2015 - Fiscal 2019 United States Fiscal 2017 - Fiscal 2019 At March 31, 2020, the Company had federal and state tax credits of $61.6 million that, if not utilized against U.S. taxes, will expire between fiscal 2021 2040 2021 2040 2021 2034 The Company’s practice and intention is to reinvest, with certain insignificant exceptions, the earnings of its non-U.S. subsidiaries outside of the U.S., and therefore, the Company has not recorded foreign withholding taxes or deferred income taxes for these earnings. The Company has estimated the net amount of unrecognized foreign withholding tax and deferred tax liabilities would total approximately $7.0 million if the accumulated foreign earnings were distributed; however, the actual tax cost would be dependent on circumstances existing when remittance occurs.

Earnings Per Share

Earnings Per Share	12 Months Ended
	Mar. 31, 2020
Earnings Per Share [Abstract]
Earnings Per Share	Note 8: Earnings Per Share The components of basic and diluted earnings per share were as follows: Years ended March 31, 2020 2019 2018 Basic Earnings Per Share: Net (loss) earnings attributable to Modine $ (2.2 ) $ 84.8 $ 22.2 Less: Undistributed earnings attributable to unvested shares - (0.4 ) (0.2 ) Net (loss) earnings available to Modine shareholders $ (2.2 ) $ 84.4 $ 22.0 Weighted-average shares outstanding - basic 50.8 50.5 49.9 Net (loss) earnings per share - basic $ (0.04 ) $ 1.67 $ 0.44 Diluted Earnings Per Share: Net (loss) earnings attributable to Modine $ (2.2 ) $ 84.8 $ 22.2 Less: Undistributed earnings attributable to unvested shares - (0.2 ) (0.1 ) Net (loss) earnings available to Modine shareholders $ (2.2 ) $ 84.6 $ 22.1 Weighted-average shares outstanding - basic 50.8 50.5 49.9 Effect of dilutive securities - 0.8 1.0 Weighted-average shares outstanding - diluted 50.8 51.3 50.9 Net (loss) earnings per share - diluted $ (0.04 ) $ 1.65 $ 0.43 For fiscal 2020, 2019 and 2018, the calculation of diluted earnings per share excluded 1.1 million, 0.4 million, and 0.2 million stock options, respectively, because they were anti-dilutive. For fiscal 2020 and 2019, the calculation of diluted earnings per share excluded 0.5 million and 0.3 million restricted stock awards, respectively, because they were anti-dilutive. For fiscal 2020, the total number of potentially-dilutive securities was 0.3 million. However, these securities were not included in the computation of diluted net loss per share since to do so would have decreased the loss per share.

Cash, Cash Equivalents and Rest

Cash, Cash Equivalents and Restricted Cash	12 Months Ended
	Mar. 31, 2020
Cash, Cash Equivalents and Restricted Cash [Abstract]
Cash, Cash Equivalents and Restricted Cash	Note 9: Cash, Cash Equivalents and Restricted Cash Cash, cash equivalents and restricted cash consisted of the following: March 31, 2020 2019 Cash and cash equivalents $ 70.9 $ 41.7 Restricted cash 0.4 0.5 Total cash, cash equivalents and restricted cash $ 71.3 $ 42.2 Restricted cash, which is reported within other current assets and other noncurrent assets in the consolidated balance sheets, consists primarily of deposits for contractual guarantees or commitments required for rents, import and export duties, and commercial agreements.

Inventories

Inventories	12 Months Ended
	Mar. 31, 2020
Inventories [Abstract]
Inventories	Note 10: Inventories Inventories consisted of the following: March 31, 2020 2019 Raw materials $ 123.6 $ 122.8 Work in process 34.6 32.2 Finished goods 49.2 45.7 Total inventories $ 207.4 $ 200.7

Property, Plant and Equipment

Property, Plant and Equipment	12 Months Ended
	Mar. 31, 2020
Property, Plant and Equipment [Abstract]
Property, Plant and Equipment	Note 11: Property, Plant and Equipment Property, plant and equipment, including depreciable lives, consisted of the following: March 31, 2020 2019 Land $ 19.7 $ 20.7 Buildings and improvements (10-40 years) 276.7 285.9 Machinery and equipment (3-15 years) 870.3 848.7 Office equipment (3-10 years) 95.2 92.0 Construction in progress 40.5 57.4 1,302.4 1,304.7 Less: accumulated depreciation (854.4 ) (820.0 ) Net property, plant and equipment $ 448.0 $ 484.7 Depreciation expense totaled $68.2 million, $67.9 million, and $67.0 million for fiscal 2020, 2019, and 2018, respectively. Gains and losses related to the disposal of property, plant and equipment are recorded within SG&A expenses. For fiscal 2020, 2019, and 2018, losses related to the disposal of property, plant and equipment totaled $0.6 million, $0.9 million, and $0.7 million, respectively.

Investment in Affiliate

Investment in Affiliate	12 Months Ended
	Mar. 31, 2020
Investment in Affiliate [Abstract]
Investment in Affiliate	Note 12: Investment in Affiliate During fiscal 2020, the Company completed the sale of its 50 percent ownership interest in Nikkei Heat Exchanger Company, Ltd. (“NEX”) for a selling price of $3.8 million. As a result of this sale, the Company recorded a gain of $0.1 million, which included the write-off of accumulated foreign currency translation gains of $0.6 million, within other income and expense on the consolidated statement of operations. Prior to the sale, the Company accounted for its investment in this non-consolidated affiliate using the equity method. The Company included its investment in NEX of $3.8 million within other noncurrent assets on the March 31, 2019 consolidated balance sheet. The Company reported its equity in earnings from NEX within other income and expense in the consolidated statements of operations, using a one-month reporting delay. The Company’s share of NEX’s earnings for fiscal 2020, 2019, and 2018 was $0.1 million, $0.7 million, and $0.2 million, respectively.

Intangible Assets

Intangible Assets	12 Months Ended
	Mar. 31, 2020
Intangible Assets [Abstract]
Intangible Assets	Note 13: Intangible Assets Intangible assets consisted of the following: March 31, 2020 March 31, 2019 Gross Carrying Value Accumulated Amortization Net Intangible Assets Gross Carrying Value Accumulated Amortization Net Intangible Assets Customer relationships $ 60.8 $ (12.6 ) $ 48.2 $ 61.5 $ (9.1 ) $ 52.4 Trade names 58.3 (16.2 ) 42.1 58.9 (13.5 ) 45.4 Acquired technology 23.6 (7.6 ) 16.0 23.9 (5.5 ) 18.4 Total intangible assets $ 142.7 $ (36.4 ) $ 106.3 $ 144.3 $ (28.1 ) $ 116.2 The Company recorded $8.9 million, $9.0 million, and $9.7 million of amortization expense during fiscal 2020, 2019, and 2018, respectively. The Company estimates that it will record $8.4 million of amortization expense in fiscal 2021 and approximately $8.0 million of annual amortization expense in fiscal 2022 through 2025. During fiscal 2018, the BHVAC segment discontinued its geothermal product line and, as a result, recorded a $1.2 million impairment charge for acquired technology intangible assets.

Goodwill

Goodwill	12 Months Ended
	Mar. 31, 2020
Goodwill [Abstract]
Goodwill	Note 14: Goodwill Changes in the carrying amount of goodwill, by segment and in the aggregate, were as follows: VTS CIS BHVAC Total Balance, March 31, 2018 $ 0.5 $ 158.3 $ 15.0 $ 173.8 Effect of exchange rate changes - (4.4 ) (0.9 ) (5.3 ) Balance, March 31, 2019 0.5 153.9 14.1 168.5 Impairment charge (0.5 ) - - (0.5 ) Effect of exchange rate changes - (1.3 ) (0.6 ) (1.9 ) Balance, March 31, 2020 $ - $ 152.6 $ 13.5 $ 166.1 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. Annually, the Company conducts its goodwill impairment assessment during the fourth quarter by applying a fair value-based test. For purposes of its assessment, the Company determines the fair value of each reporting unit based upon the present value of estimated future cash flows. The Company’s determination of fair value involves judgment and the use of significant estimates and assumptions, including assumptions regarding the revenue growth rates and operating profit margins used to calculate estimated future cash flows, risk-adjusted discount rates, business trends and market conditions . As a result of its annual goodwill impairment test performed during the fourth quarter of fiscal 2020, the Company determined that the fair value of each of the reporting units within its CIS and BHVAC segments exceeded their respective book values. The Company determined, however, that the goodwill recorded within its VTS segment was fully impaired and recorded a $0.5 million impairment charge as a result. The impairment charge was primarily caused by a recent decline in the estimated fair value of the automotive business within the VTS segment. At March 31, 2020 and 2019, accumulated goodwill impairment losses totaled $40.8 million a nd $ million, respectively,

Product Warranties and Other Co

Product Warranties and Other Commitments	12 Months Ended
	Mar. 31, 2020
Product Warranties and Other Commitments [Abstract]
Product Warranties and Other Commitments	Note 15: Product Warranties and Other Commitments Product warranties : Many of the Company’s products are covered under a warranty period ranging from one to five years . The Company records a liability for product warranty obligations at the time of sale and adjusts its warranty accruals if it becomes probable that expected claims will differ from previous estimates. Changes in accrued warranty costs were as follows: Years ended March 31 , 2020 2019 Beginning balance $ 9.2 $ 9.3 Warranties recorded at time of sale 5.3 5.5 Adjustments to pre-existing warranties (1.6 ) 2.2 Settlements (4.8 ) (7.3 ) Effect of exchange rate changes (0.2 ) (0.5 ) Ending balance $ 7.9 $ 9.2 Indemnification agreements: Commitments:

Leases

Leases	12 Months Ended
	Mar. 31, 2020
Leases [Abstract]
Leases	Note 16: Leases Effective April 1, 2019, the Company adopted new lease accounting guidance and, as a result, recorded $61.3 million of right-of-use (“ROU”) assets and corresponding lease liabilities for operating leases on its consolidated balance sheet. The consolidated financial statements for fiscal 2020 reflect the adoption of this new guidance; however, fiscal 2019, fiscal 2018 and prior-years have not been adjusted. See Note 1 for additional information regarding the Company’s adoption of the new guidance. The Company determines if an arrangement is a lease at contract inception. The lease term begins upon lease commencement, which is when the Company takes possession of the asset, and may include options to extend or terminate the lease when it is reasonably certain that such options will be exercised. The Company uses the lease term within its determination of the appropriate lease classification, either as an operating lease or as a finance lease, and to calculate straight-line lease expense for its operating leases. ROU assets represent the Company’s right to use an underlying asset for the lease term and lease liabilities represent the Company’s obligation to make lease payments arising from the lease. The Company recognizes ROU assets and lease liabilities at the commencement date, based upon the present value of lease payments over the lease term. As its lease agreements typically do not provide an implicit interest rate, the Company primarily uses an incremental borrowing rate based upon the information available at lease commencement. In determining the incremental borrowing rate, the Company considers its current collateralized borrowing rate, the term of the lease, and the economic environments where the lease activity is concentrated. The Company believes this method effectively estimates a borrowing rate that it could obtain for a debt instrument with similar terms as the lease agreement. Based upon its accounting policy, the Company does not separate lease and non-lease components for any asset class. In addition, the Company does not record short-term leases (i.e. leases with an initial term of 12 months or less) on its consolidated balance sheets and recognizes payments for these leases as lease expense. Certain leases require the Company to pay taxes, insurance, maintenance, and other operating expenses associated with the leased asset. Such amounts are not included in the measurement of the lease liability to the extent they are variable in nature. These variable lease costs are recognized as variable lease expense when incurred. The depreciable life of the ROU assets and related leasehold improvements are limited by the expected lease term, unless the lease contains a provision to transfer title to the Company or a purchase option that the Company expects to execute. The Company’s most significant leases represent leases of real estate, such as manufacturing facilities, warehouses, and office buildings. In addition, the Company leases certain manufacturing and IT equipment and vehicles. The Company’s most significant leases have remaining lease terms of 1 to 15 years. Certain leases contain renewal options for varying periods, which are at the Company’s discretion. If reasonably certain of exercise, the Company includes the renewal periods within the calculation of ROU assets and lease liabilities. The Company’s lease agreements do not contain any material residual value guarantees or material restrictive covenants. Lease Assets and Liabilities: Balance Sheet Location March 31, 2020 Lease Assets Operating lease ROU assets Other noncurrent assets $ 61.4 Finance lease ROU assets (a) Property, plant and equipment - net 8.5 Lease Liabilities Operating lease liabilities Other current liabilities $ 10.9 Operating lease liabilities Other noncurrent liabilities 50.3 Finance lease liabilities Long-term debt - current portion 0.4 Finance lease liabilities Long-term debt 3.3 (a) Finance lease ROU assets were recorded net of accumulated amortization of $1.8 million as of March 31, 2020. Components of Lease Expense: The components of lease expense were as follows: Year ended March 31, 2020 Operating lease expense (a) $ 21.2 Finance lease expense: Depreciation of ROU assets 0.5 Interest on lease liabilities 0.2 Total lease expense $ 21.9 (a) In fiscal 2020, operating lease expense included short-term lease expense of $4.1 million. Variable lease expense was not significant. Supplemental Cash Flow Information Year ended March 31, 2020 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows for operating leases $ 14.7 Financing cash flows for finance leases 0.5 ROU assets obtained in exchange for lease liabilities Operating leases $ 9.0 Finance leases 0.2 Lease Term and Discount Rates March 31, 2020 Weighted-average remaining lease term: Operating leases 9.3 years Finance leases 8.8 years Weighted-average discount rate: Operating leases 3.5 % Finance leases 4.7 % Maturity of Lease Liabilities under New Lease Accounting Guidance: Fiscal Year Operating Leases Finance Leases 2021 $ 12.8 $ 0.5 2022 11.4 0.5 2023 9.3 0.5 2024 6.3 0.5 2025 5.8 0.5 2026 and beyond 26.2 2.0 Total lease payments 71.8 4.5 Less: Interest (10.6 ) (0.8 ) Present value of lease liabilities $ 61.2 $ 3.7 Maturity of Lease Liabilities under Previous Lease Accounting Guidance: Fiscal Year 2020 $ 14.2 2021 12.4 2022 9.1 2023 7.1 2024 4.7 2025 and beyond 22.9 Total $ 70.4 The Company recorded $19.3 million and $18.5 million of rental expense related to operating leases in fiscal 2019 and 2018, respectively.

Indebtedness

Indebtedness	12 Months Ended
	Mar. 31, 2020
Indebtedness [Abstract]
Indebtedness	Note 17: Indebtedness In June 2019, the Company executed the Fourth Amended and Restated Credit Agreement with a syndicate of banks that provides for a multi-currency $250.0 million revolving credit facility expiring in June 2024 In January 2020, the Company issued $100.0 million of 5.9 percent Senior Notes with repayments ending in fiscal 2029. The Company used the majority of the proceeds to satisfy the remaining principal balance of the 6.8 percent Senior Notes, which were scheduled to mature in August 2020. As a result of the credit agreement modification, the Company deferred debt issuance costs of $1.7 million, which are being amortized over the term of the debt. Based upon the terms of the credit agreement, the Company determined that borrowings under its revolving credit facility should be classified as long-term debt. Accordingly, the Company has reclassified borrowings of $47.1 million under its revolving credit facility from short-term to long-term debt on the March 31, 2019 balance sheet and within the related disclosures. Long-term debt consisted of the following: io Fiscal year of maturity March 31, 2020 March 31, 2019 Term loans 2025 $ 189.4 $ 238.4 Revolving credit facility 2025 127.2 47.1 5.9% Senior Notes 2029 100.0 - 5.8% Senior Notes 2027 50.0 50.0 6.8% Senior Notes 2021 - 85.0 Other (a) 6.0 14.3 472.6 434.8 Less: current portion (15.6 ) (48.6 ) Less: unamortized debt issuance costs (5.0 ) (4.0 ) Total long-term debt $ 452.0 $ 382.2 (a) Other long-term debt primarily includes borrowings by foreign subsidiaries and finance lease obligations. Long-term debt matures as follows: Fiscal Year 2021 $ 15.6 2022 21.7 2023 21.7 2024 21.7 2025 273.6 2026 & beyond 118.3 Total $ 472.6 The Company also maintains credit agreements for its foreign subsidiaries, with outstanding short-term borrowings at March 31, 2020 and 2019 of $14.8 million and $18.9 million, respectively. Provisions in the Company’s credit agreement, 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 credit agreements in the U.S., the Company has provided liens on substantially all domestic assets. Also, as specified in the credit agreement, the term loans may require prepayments in the event of certain asset sales. In addition, at the time of each incremental borrowing under the revolving credit facility, the Company is required to represent to the lenders that there has been no material adverse effect, as defined in the credit agreement, on its business, property, or results of operations. The Company is subject to a leverage ratio covenant, which requires the Company to limit its consolidated indebtedness, less a portion of its cash balance, both as defined by the credit agreements, in relation to its consolidated net earnings before interest, taxes, depreciation, amortization, and certain other adjustments (“Adjusted EBITDA”). The leverage ratio covenant limit was 3.25 to 1 through the fourth quarter of fiscal 2020. The Company is also subject to an interest expense coverage ratio covenant, 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, 2020. In May 2020, the Company executed amendments to its primary credit agreements in the U.S. Under the amended agreements, the leverage ratio covenant limit is temporarily raised. The leverage ratio covenant limit in fiscal 2021 is 4.00 to 1, 4.75 to 1, 5.25 to 1, and 5.75 to 1 for the first, second, third, and fourth quarters, respectively. In fiscal 2022, the leverage ratio covenant limit is 4.75 to 1, 3.75 to 1, and 3.50 to 1 for the first, second and third quarters, respectively, and subsequently returns to 3.25 to 1 for the fourth quarter of fiscal 2022. 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. As of March 31, 2020 and 2019, the carrying value of the Company’s long-term debt approximated fair value, with the exception of the Senior Notes, which had an aggregate fair value of approximately $131.3 million and $137.2 million, respectively. The fair value of the Company’s long-term debt is categorized as Level 2 within the fair value hierarchy. Refer to Note 3 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, 2020
Pension and Employee Benefit Plans [Abstract]
Pension and Employee Benefit Plans	Note 18: Pension and Employee Benefit Plans Defined Contribution Employee Benefit Plans: The Company maintains a domestic 401(k) plan that allows employees to contribute a portion of their salary to help them save for retirement. The Company currently matches employee contributions up to 4.5 percent of their compensation for participants. The Company’s expense for defined contribution employee benefit plans during fiscal 2020, 2019, and 2018 was $6.6 million, $6.4 million, and $5.2 million, respectively. In addition, the Company maintains non-qualified deferred compensation plans 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 substantially unfunded in accordance with local laws. Defined Benefit Employee Benefit Plans: Pension plans: The Company contributed $3.5 million, $8.0 million, and $13.4 million to its U.S. pension plans during fiscal 2020, 2019, and 2018, respectively. In addition, the Company contributed $2.3 million, $5.9 million, and $2.6 million to its non-U.S. pension plans during fiscal 2020, 2019, and 2018, respectively. These contributions are reported in the change in other liabilities in the consolidated statements of cash flows. Postretirement plans Measurement date: Changes in benefit obligations and plan assets, as well as the funded status of the Company’s global pension plans, were as follows: Years ended March 31, 2020 2019 Change in benefit obligation: Benefit obligation at beginning of year $ 258.8 $ 273.6 Service cost 0.4 0.5 Interest cost 9.1 9.6 Actuarial loss 15.5 1.7 Benefits paid (18.2 ) (22.8 ) Curtailment gain (a) (0.3 ) - Effect of exchange rate changes (0.6 ) (3.8 ) Benefit obligation at end of year $ 264.7 $ 258.8 Change in plan assets: Fair value of plan assets at beginning of year $ 155.1 $ 157.7 Actual return on plan assets (11.6 ) 6.3 Benefits paid (18.2 ) (22.8 ) Employer contributions 5.8 13.9 Fair value of plan assets at end of year $ 131.1 $ 155.1 Funded status at end of year $ (133.6 ) $ (103.7 ) Amounts recognized in the consolidated balance sheets: Current liability $ (2.7 ) $ (2.0 ) Noncurrent liability (130.9 ) (101.7 ) $ (133.6 ) $ (103.7 ) (a) The $0.3 million curtailment gain, which is associated with headcount reductions in Europe within the VTS segment, will be recognized as a component of net periodic benefit cost following the completion of the headcount reductions. See Note 5 for additional information on the Company’s restructuring activities. As of March 31, 2020, 2019, and 2018, the benefit obligation associated with the Company’s non-U.S. pension plans totaled $35.7 million, $36.5 million, and $43.4 million respectively. In fiscal 2020, the $0.8 million decrease primarily resulted from employer contributions of $2.2 million for benefits paid to plan participants during the year, partially offset by service and interest cost totaling $0.9 million. In fiscal 2019, the $6.9 million decrease primarily resulted from employer contributions of $5.9 million for benefits paid to plan participants during the year and the impact of foreign currency exchange rate changes, partially offset by service and interest cost totaling $1.1 million. The accumulated benefit obligation for pension plans was $263.1 million and $256.9 million as of March 31, 2020 and 2019, respectively. The net actuarial loss related to the pension plans recognized in accumulated other comprehensive loss was $191.5 million and $159.1 million as of March 31, 2020 and 2019, respectively. Costs for the Company’s global pension plans included the following components: Years ended March 31, 2020 2019 2018 Components of net periodic benefit cost: Service cost $ 0.4 $ 0.5 $ 0.5 Interest cost 9.1 9.6 9.9 Expected return on plan assets (12.0 ) (12.3 ) (11.9 ) Amortization of net actuarial loss 6.0 5.6 5.6 Settlements (a) 0.2 0.2 0.3 Curtailment gain (a) - - (0.3 ) Net periodic benefit cost $ 3.7 $ 3.6 $ 4.1 Other changes in benefit obligation recognized in other comprehensive income (loss): Net actuarial loss $ (38.7 ) $ (7.7 ) $ (5.8 ) Amortization of net actuarial loss 6.2 5.8 5.9 Total recognized in other comprehensive income (loss) $ (32.5 ) $ (1.9 ) $ 0.1 (a) The settlement charges and curtailment gain resulted from activity associated with the Company’s non-U.S. pension plans. The Company amortized $6.2 million, $5.6 million, and $5.6 million of net actuarial loss in fiscal 2020, 2019, and 2018, respectively. In each of these years, less than $1.0 million of the amortization was attributable to the Company’s non-U.S. pension plans. The Company estimates $6.9 million of net actuarial loss for its pension plans will be amortized from accumulated other comprehensive loss into net periodic benefit cost during fiscal 2021. The fiscal 2021 estimated amortization includes less than $1.0 million related to the Company’s non-U.S. pension plans. The Company used a discount rate of 3.4% and 4.0% as of March 31, 2020 and 2019, respectively, for determining its benefit obligations under its U.S. pension plans. The Company used a weighted-average discount rate of 1.0% and 1.4% as of March 31, 2020 and 2019, respectively, for determining its benefit obligations under its non-U.S. pension plans. The Company used a discount rate of 4.0%, 4.0%, and 4.1% to determine its costs under its U.S. pension plans for fiscal 2020, 2019, and 2018, respectively. The Company used a weighted-average discount rate of 1.7%, 1.9%, and 1.9% to determine its costs under its non-U.S. pension plans for fiscal 2020, 2019, and 2018, 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 Company’s U.S. pension 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, 2020 and 2019 were as follows: Target allocation Plan assets 2020 2019 Equity securities 65 % 60 % 66 % Debt securities 21 % 22 % 19 % Real estate investments 13 % 16 % 12 % Cash and cash equivalents 1 % 2 % 3 % 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, 2020 and 2019, 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 investments are used to maximize the long-term growth of principal, 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 2020, 2019, and 2018 U.S. pension plan expense, the expected rate of return on plan assets was 7.5 percent. For fiscal 2021 U.S. pension plan expense, the Company has assumed a rate of return on plan assets of 7.5 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 contribute approximately $20 million to these U.S. plans during fiscal 2021. Estimated pension benefit payments for the next ten fiscal years are as follows: Fiscal Year Estimated Pension Benefit Payments 2021 $ 17.2 2022 16.8 2023 16.7 2024 16.7 2025 16.8 2026-2030 80.6

Derivative Instruments

Derivative Instruments	12 Months Ended
	Mar. 31, 2020
Derivative Instruments [Abstract]
Derivative Instruments	Note 19: 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 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, 2020 March 31, 2019 Derivatives designated as hedges: Commodity derivatives Other current assets $ - $ 0.6 Commodity derivatives Other current liabilities 1.3 0.3 Foreign exchange contracts Other current assets 0.1 0.2 Derivatives not designated as hedges: Foreign exchange contracts Other current liabilities $ - $ 0.5 The amounts associated with derivative financial instruments that the Company designated for hedge accounting were as follows: Gain (loss) recognized in other comprehensive income Statement of Operations Gain (loss) reclassified from AOCI 2020 2019 2018 Location 2020 2019 2018 Commodity derivatives $ (2.6 ) $ (0.3 ) $ 0.2 Cost of sales $ (0.8 ) $ (0.4 ) $ - Foreign exchange contracts (0.1 ) (0.4 ) 0.1 Net sales (0.1 ) (0.4 ) 0.1 Foreign exchange contracts 0.2 1.0 - Cost of sales 0.4 0.6 - Total gains (losses) $ (2.5 ) $ 0.3 $ 0.3 $ (0.5 ) $ (0.2 ) $ 0.1 The amounts associated with derivative financial instruments that the Company did not designate for hedge accounting were as follows: _ Statement of Operations Location Years ended March 31, _ 2020 2019 2018 Commodity derivatives Cost of sales $ - $ - $ 0.4 Foreign exchange contracts Net sales (0.1 ) (0.7 ) (0.1 ) Foreign exchange contracts Other income (expense) - net (0.1 ) (0.3 ) (0.5 ) Total losses $ (0.2 ) $ (1.0 ) $ (0.2 )

Risks, Uncertainties, Contingen

Risks, Uncertainties, Contingencies and Litigation	12 Months Ended
	Mar. 31, 2020
Risks, Uncertainties, Contingencies and Litigation [Abstract]
Risks, Uncertainties, Contingencies and Litigation	Note 20: Risks, Uncertainties, Contingencies and Litigation COVID-19 In March 2020, the World Health Organization declared the outbreak of the novel coronavirus, COVID-19, a pandemic. The spread of COVID-19 and the resulting work and travel restrictions, including international border closings, have disrupted, and may continue to disrupt, global supply chains and have negatively impacted the global economy. As a result of this pandemic, the Company has experienced significant impacts on its operations and has suspended production at certain manufacturing facilities in China, India, Italy, Spain, Germany, the Netherlands, Austria, Hungary, the U.S., Mexico and Brazil due to local government requirements or customer shutdowns and is operating other facilities in the U.S. and abroad at reduced capacity levels. Although the temporarily-closed facilities have since reopened, many are operating at a significantly reduced volume because of low customer demand. The Company is focused on protecting the health and wellbeing of its employees and the communities in which it operates, while also ensuring the continuity of its business operations and timely delivery of quality products and services to its customers. Beginning largely in April 2020 and i n an effort to mitigate the negative impacts of COVID-19, the Company has taken actions, including, but not limited to, production staffing adjustments, furloughs, shortened work weeks, and temporary salary reductions at all levels of our organization. In addition, the Company is focused on reducing operating and administrative expenses. The Company’s consolidated financial statements reflect estimates and assumptions made by management, including assumptions regarding the future impacts of the COVID-19 pandemic, that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and reported amounts of revenue and expenses during the reporting periods presented. For example, assets particularly sensitive to assumptions that could be adversely impacted by the COVID-19 pandemic include goodwill and deferred tax assets. While the Company believes it used appropriate estimates and assumptions to prepare the consolidated financial statements, actual amounts could differ materially and future events or circumstances could have a potential negative effect on the assumptions used. If the Company, its suppliers, or its customers experience further shutdowns or other significant business disruptions associated with the COVID-19 pandemic, its ability to conduct business in the manner and on the timelines presently planned could be materially and negatively impacted, which could have a material adverse effect on the Company’s business, financial position, results of operations and cash flows. Market Risk The Company sells a broad range of products that provide thermal solutions to customers operating in diverse markets, including the automotive, commercial vehicle, off-highway, and commercial, industrial, and building HVAC&R markets. The COVID-19 pandemic has negatively impacted these markets; the duration and severity of the impacts of COVID-19 on these markets are currently uncertain. Credit Risk The Company invests excess cash primarily in investment quality, short-term liquid debt instruments. Financial instruments that potentially subject the Company to significant concentrations of credit risk consist principally of accounts receivable. The Company sells a broad range of products that provide thermal solutions to customers operating throughout the world. In fiscal 2020, one customer within the VTS segment accounted for more than ten percent of the Company’s total sales. In fiscal 2019 and 2018, two customers within the VTS segment each accounted for ten percent or more of the Company’s total sales. Sales to the Company’s top ten customers were 45 percent, 50 percent, and 48 percent of total sales in fiscal 2020, 2019, and 2018, respectively. At March 31, 2020 and 2019, 34 percent and 38 percent, respectively, of the Company's trade accounts receivable were due from the Company's top ten customers. These customers operate primarily in the automotive, commercial vehicle, off-highway, data center cooling and commercial air conditioning markets. Collateral or advanced payments are generally not required. The Company has not experienced significant credit losses to customers in the markets served nor has experienced a significant increase in credit losses in connection with the COVID-19 pandemic. 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 financial ratings that are acceptable to the Company. Counterparty Risk The Company manages counterparty risk through its focus on the following: • 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 related to soil and groundwater contamination at manufacturing facilities in the United States, one of which the Company currently owns and operates, and at its former manufacturing facility in the Netherlands, along with accruals for lesser environmental matters at certain other facilities in the United States and Brazil. 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 $18.2 million and $18.9 million at March 31, 2020 and 2019, respectively. As additional information becomes available, the Company will re-assess the liabilities related to these matters and revise the estimated accruals, if necessary. Based upon 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. Other Litigation In the normal course of business, the Company and its subsidiaries are named as defendants in various lawsuits and enforcement proceedings by private parties, governmental agencies and/or others in which claims are asserted against Modine. The Company believes that any additional loss in excess of amounts already accrued would not have a material effect on the Company’s consolidated balance sheet, results of operations, and cash flows. In addition, management expects that the liabilities which may ultimately result from such lawsuits or proceedings, if any, would not have a material adverse effect on the Company’s financial position.

Accumulated Other Comprehensive

Accumulated Other Comprehensive Loss	12 Months Ended
	Mar. 31, 2020
Accumulated Other Comprehensive Loss [Abstract]
Accumulated Other Comprehensive Loss	Note 21: Accumulated Other Comprehensive Loss Changes in accumulated other comprehensive loss were as follows: Foreign Currency Translation Defined Benefit Plans Cash Flow Hedges Total Balance, March 31, 2019 $ (42.6 ) $ (136.3 ) $ 0.5 $ (178.4 ) Other comprehensive loss before reclassifications (18.2 ) (38.7 ) (2.5 ) (59.4 ) Reclassifications: Amortization of unrecognized net loss (a) - 5.8 - 5.8 Realized losses - net (b) - - 0.5 0.5 Foreign currency translation gains (c) (0.6 ) - - (0.6 ) Income taxes - 8.3 0.5 8.8 Total other comprehensive loss (18.8 ) (24.6 ) (1.5 ) (44.9 ) Balance, March 31, 2020 $ (61.4 ) $ (160.9 ) $ (1.0 ) $ (223.3 ) Foreign Currency Translation Defined Benefit Plans Cash Flow Hedges Total Balance, March 31, 2018 $ (5.5 ) $ (134.9 ) $ 0.1 $ (140.3 ) Other comprehensive income (loss) before reclassifications (37.9 ) (7.1 ) 0.3 (44.7 ) Reclassifications: Amortization of unrecognized net loss (a) - 5.4 - 5.4 Realized losses - net (b) - - 0.2 0.2 Foreign currency translation losses (d) 0.8 - - 0.8 Income taxes - 0.3 (0.1 ) 0.2 Total other comprehensive income (loss) (37.1 ) (1.4 ) 0.4 (38.1 ) Balance, March 31, 2019 $ (42.6 ) $ (136.3 ) $ 0.5 $ (178.4 ) (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 18 for additional information about the Company’s pension plans. (b) Amounts represent net gains and losses associated with cash flow hedges that were reclassified to net earnings. See Note 19 for additional information regarding derivative instruments. (c) As a result of the sale of its investment in NEX during fiscal 2020, the Company wrote off $0.6 million of accumulated foreign currency translation gains. (d) As a result of the sale of a business in South Africa during fiscal 2019, the Company wrote off $0.8 million of accumulated foreign currency translation losses.

Segment and Geographic Informat

Segment and Geographic Information	12 Months Ended
	Mar. 31, 2020
Segment and Geographic Information [Abstract]
Segment and Geographic Information	Note 22: Segment and Geographic Information The Company’s product lines consist of heat-transfer components and systems. The Company serves vehicular and commercial, industrial, and building HVAC&R markets. The Company’s VTS segment represents its vehicular business and primarily serves the automotive, commercial vehicle, and off-highway markets. In addition, the VTS segment serves the automotive and commercial vehicle aftermarket in Brazil. The Company’s CIS segment provides coils, coolers, and coating solutions to customers throughout the world. The Company’s BHVAC segment provides heating, ventilating and air conditioning products to customers 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. Effective April 1, 2020, the Company began managing its automotive business separate from the other businesses within the VTS segment. The Company is managing the automotive business as a separate segment as the Company targets the sale or eventual exit of the businesses in this segment. Beginning for fiscal 2021, the Company will report the financial results for the automotive business as the Automotive segment. The remaining portion of the previous VTS segment will be named the Heavy-Duty Equipment segment and will include the heavy-duty commercial vehicle and off-highway businesses. The following is a summary of net sales, gross profit, and operating income by segment: Year ended March 31, 2020 External Sales Inter-segment Sales Total Net sales: VTS $ 1,136.0 $ 41.2 $ 1,177.2 CIS 620.1 3.8 623.9 BHVAC 219.4 1.7 221.1 Segment total 1,975.5 46.7 2,022.2 Corporate and eliminations - (46.7 ) (46.7 ) Net sales $ 1,975.5 $ - $ 1,975.5 Year ended March 31, 2019 External Sales Inter-segment Sales Total Net sales: VTS $ 1,298.9 $ 52.8 $ 1,351.7 CIS 704.7 2.9 707.6 BHVAC 209.1 3.3 212.4 Segment total 2,212.7 59.0 2,271.7 Corporate and eliminations - (59.0 ) (59.0 ) Net sales $ 2,212.7 $ - $ 2,212.7 Year ended March 31, 2018 External Sales Inter-segment Sales Total Net sales: VTS $ 1,239.3 $ 56.4 $ 1,295.7 CIS 674.4 1.3 675.7 BHVAC 189.4 1.8 191.2 Segment total 2,103.1 59.5 2,162.6 Corporate and eliminations - (59.5 ) (59.5 ) Net sales $ 2,103.1 $ - $ 2,103.1 Inter-segment sales are accounted for based upon an established markup over production costs. Net sales for Corporate and eliminations primarily represent the elimination of inter-segment sales. Years ended March 31, 2020 2019 2018 Gross profit: $'s % of sales $'s % of sales $'s % of sales VTS $ 144.9 12.3 % $ 186.9 13.8 % $ 201.0 15.5 % CIS 92.9 14.9 % 114.9 16.2 % 97.8 14.5 % BHVAC 71.5 32.3 % 63.4 29.9 % 58.0 30.3 % Segment total 309.3 15.3 % 365.2 16.1 % 356.8 16.5 % Corporate and eliminations (1.8 ) - 0.3 - (0.3 ) - Gross profit $ 307.5 15.6 % $ 365.5 16.5 % $ 356.5 17.0 % Years ended March 31, Operating income: 2020 2019 2018 VTS $ 27.6 $ 64.8 $ 84.2 CIS 32.9 53.4 28.5 BHVAC 36.4 26.9 20.3 Segment total 96.9 145.1 133.0 Corporate and eliminations (a) (59.0 ) (35.4 ) (40.8 ) Operating income $ 37.9 $ 109.7 $ 92.2 (a) 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. During fiscal 2020 and 2019, the Company recorded $39.2 million and $7.1 million, respectively, of costs directly associated with its review of strategic alternatives for the VTS segment’s automotive business, including costs to separate and prepare the business for potential sale. The following is a summary of total assets by segment: March 31, 2020 2019 VTS $ 683.9 $ 749.9 CIS 617.7 604.2 BHVAC 102.3 89.4 Corporate and eliminations 132.2 94.5 Total assets $ 1,536.1 $ 1,538.0 The following is a summary of capital expenditures and depreciation and amortization expense by segment: Years ended March 31, Capital expenditures: 2020 2019 2018 VTS $ 53.2 $ 56.2 $ 61.4 CIS 15.0 16.4 9.0 BHVAC 3.1 1.3 0.6 Total capital expenditures $ 71.3 $ 73.9 $ 71.0 Years ended March 31, Depreciation and amortization expense: 2020 2019 2018 VTS $ 49.7 $ 49.5 $ 48.2 CIS 24.0 23.9 24.3 BHVAC 3.4 3.5 4.2 Total depreciation and amortization expense $ 77.1 $ 76.9 $ 76.7 The following is a summary of net sales by geographical area, based upon the location of the selling unit: Years ended March 31, 2020 2019 2018 United States $ 941.9 $ 1,032.3 $ 911.4 Italy 187.4 217.3 211.5 China 168.5 172.1 156.0 Hungary 142.4 165.6 153.9 Germany 97.5 123.1 132.6 Austria 93.0 116.2 151.7 Other 344.8 386.1 386.0 Net sales $ 1,975.5 $ 2,212.7 $ 2,103.1 The following is a summary of property, plant and equipment by geographical area: March 31, 2020 2019 United States $ 114.6 $ 117.7 China 56.8 57.6 Hungary 55.4 55.3 Mexico 50.0 56.3 Italy 49.8 52.4 Germany 27.0 32.8 Austria 26.0 36.9 Other 68.4 75.7 Total property, plant and equipment $ 448.0 $ 484.7 The following is a summary of net sales by end market: Years ended March 31, 2020 2019 2018 Commercial HVAC&R $ 639.7 $ 674.0 $ 648.3 Automotive 508.8 542.8 526.0 Commercial vehicle 323.7 387.6 381.7 Off-highway 253.9 314.1 271.2 Data center cooling 150.2 187.0 137.6 Industrial cooling 43.5 47.8 67.6 Other 55.7 59.4 70.7 Net sales $ 1,975.5 $ 2,212.7 $ 2,103.1

Quarterly Financial Data (Unaud

Quarterly Financial Data (Unaudited)	12 Months Ended
	Mar. 31, 2020
Quarterly Financial Data (Unaudited) [Abstract]
Quarterly Financial Data (Unaudited)	Note 23: Quarterly Financial Data (Unaudited) The following is a summary of quarterly financial data: Fiscal 2020 quarters ended June Sept. Dec. March Fiscal 2020 Net sales $ 529.0 $ 500.2 $ 473.4 $ 472.9 $ 1,975.5 Gross profit 83.4 75.7 73.5 74.9 307.5 Net earnings (loss) (a) 8.2 (4.8 ) 1.0 (6.4 ) (2.0 ) Net earnings (loss) attributable to Modine (a) 8.0 (4.7 ) 1.2 (6.7 ) (2.2 ) Net earnings (loss) per share attributable to Modine shareholders: Basic $ 0.16 $ (0.09 ) $ 0.02 $ (0.13 ) $ (0.04 ) Diluted 0.16 (0.09 ) 0.02 (0.13 ) (0.04 ) Fiscal 2019 quarters ended June Sept. Dec. March Fiscal 2019 Net sales $ 566.1 $ 548.9 $ 541.0 $ 556.7 $ 2,212.7 Gross profit 94.3 87.9 91.7 91.6 365.5 Net earnings (b) 22.5 38.7 18.3 6.4 85.9 Net earnings attributable to Modine (b) 22.0 38.5 18.0 6.3 84.8 Net earnings per share attributable to Modine shareholders: Basic $ 0.43 $ 0.76 $ 0.36 $ 0.12 $ 1.67 Diluted 0.43 0.75 0.35 0.12 1.65 (a) During fiscal 2020, restructuring expenses totaled $ million, $ million, $ million, and $ million for the quarters ended June 30, 2019, September 30, 2019, December 31, 2019, and March 31, 2020, respectively (see Note 5). During the third quarter of fiscal 2020, the Company sold a previously-closed manufacturing facility in Germany and, as a result, recorded a gain of $ million (see Note 1). During the fourth quarter of fiscal 2020, the Company recorded asset impairment charges totaling $ million related to long-lived assets and goodwill (see Note 5 and Note 14). During fiscal 2020, costs associated with the Company’s review of strategic alternatives for the VTS segment’s automotive business totaled $ million, $ million, $ million, and $ million for the quarters ended June 30, 2019, September 30, 2019, December 31, 2019, and March 31, 2020, respectively. During fiscal 2020, the Company adjusted its valuation allowances on deferred tax assets in the U.S and in Brazil. As a result, the Company recorded net income tax charges totaling $ million and $ million in the third and fourth quarters, respectively. Also during fiscal 2020, the Company recorded a net income tax charge totaling $ million, $ million of which was recorded in the third quarter, as a result of legal entity restructuring completed in preparation of a potential sale of the automotive business (see Note 7). (b) During fiscal 2019, restructuring expenses totaled $0.2 million, $0.5 million, and $8.9 million for the quarters ended June 30, 2018, December 31, 2018, and March 31, 2019, respectively (see Note 5). During the second quarter of fiscal 2019, the Company sold its South African business within the BHVAC segment and, as a result, recorded a loss of $1.7 million (see Note 1). During the third quarter of fiscal 2019, the Company recorded a $0.4 million impairment charge related to a manufacturing facility in Austria (see Note 5). During the third and fourth quarter of fiscal 2019, the Company incurred $1.2 million and $5.9 million of costs associated with its review of strategic alternatives for the VTS segment’s automotive business. The Company’s income tax benefit for fiscal 2019 includes net benefits of $24.4 million and net charges of $2.2 million in the second and third quarters, respectively, related to the Tax Act and the recognition of foreign tax credits (see Note 7). During fiscal 2019, the Company adjusted its valuation allowances on deferred tax assets related to two separate subsidiaries in China and, as a result, recorded a $2.0 million income tax benefit and a $1.0 million income tax charge in the first and second quarters, respectively (see Note 7).

Schedule II - Valuation and Qua

Schedule II - Valuation and Qualifying Accounts	12 Months Ended
	Mar. 31, 2020
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, 2020, 2019 and 2018 (In millions) Additions Description Balance at Beginning of Period Charged (Benefit) to Costs and Expenses Charged to Other Accounts Balance at End of Period 2020: Valuation Allowance for Deferred Tax Assets $ 43.4 $ 4.5 $ (1.0 ) (a) $ 46.9 2019: Valuation Allowance for Deferred Tax Assets $ 48.9 $ (1.6 ) $ (3.9 ) (a) $ 43.4 2018: Valuation Allowance for Deferred Tax Assets $ 49.6 $ (6.7 ) $ 6.0 (a) $ 48.9 (a) Foreign currency translation and other adjustments. The fiscal 2018 amounts also included increases associated with the Company’s acquisition of Luvata HTS.

Significant Accounting Polici_2

Significant Accounting Policies (Policies)	12 Months Ended
	Mar. 31, 2020
Significant Accounting Policies [Abstract]
Nature of operations	Nature of operations:
Basis of presentation	Basis of presentation:
Consolidation principles	Consolidation principles:
Revenue recognition	Revenue recognition:
Shipping and handling costs	Shipping and handling costs:
Trade accounts receivable	Trade accounts receivable:
Warranty	Warranty:
Tooling costs	Tooling costs:
Stock-based compensation	Stock-based compensation:
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:
Inventories	Inventories:
Property, plant and equipment	Property, plant and equipment
Goodwill	Goodwill: The Company performed its goodwill impairment test as of March 31, 2020 and, as a result, recorded a $ million impairment charge within the VTS segment. See Note 14 for additional information.
Impairment of long-lived assets	Impairment of long-lived assets:
Assets held for sale	Assets held for sale:
Deferred compensation trusts	Deferred compensation trusts:
Self-insurance reserves	Self-insurance reserves:
Environmental liabilities	Environmental liabilities:
Supplemental cash flow information	S upplemental cash flow information: Years ended March 31, 2020 2019 2018 Interest paid $ 21.4 $ 22.3 $ 23.4 Income taxes paid 18.8 22.2 20.1
New Accounting Guidance Adopted	New Accounting Guidance Adopted in Fiscal 2020: Leases In February 2016, the Financial Accounting Standards Board (“FASB”) issued new comprehensive lease accounting guidance that supersedes existing lease accounting guidance and requires balance sheet recognition for most leases. The Company adopted this guidance effective April 1, 2019 using a modified-retrospective transition method, under which it elected not to adjust comparative periods. The Company elected the package of practical expedients permitted under the new guidance, and, as a result, the Company did not reassess the classification of existing leases or initial direct costs thereof, or whether existing contracts contain leases. In addition, the Company elected accounting policies to not record short-term leases on the balance sheet and to not separate lease and non-lease components. The Company did not elect the hindsight practical expedient. The Company assessed its global lease portfolio and implemented a new lease accounting software solution and new processes and controls to account for leases in accordance with the new guidance. The Company’s most significant leases represent leases of real estate, such as manufacturing facilities, warehouses, and office buildings. The Company also leases certain manufacturing and IT equipment and vehicles. Upon adoption of this new guidance on April 1, 2019, the Company recognized right-of-use assets for operating leases totaling $61.3 million and corresponding current and noncurrent operating lease liabilities of $12.4 million and $48.9 million, respectively. In addition, the Company assessed two existing build-to-suit arrangements, for which it had recorded property, plant and equipment and long-term debt on its consolidated balance sheet as of March 31, 2019. The Company determined these arrangements represent operating leases under the new accounting guidance. As a result, the Company derecognized the previously-recorded balances and recorded $5.2 million of operating lease right-of-use assets and corresponding lease liabilities. As a result of adopting the new guidance, there was not a significant impact on the Company’s accounting for its previously-recorded capital leases, which are now classified as finance leases under the new guidance. In addition, there was no impact to retained earnings. Also, the adoption did not have a material impact on the Company’s consolidated statement of operations or consolidated statement of cash flows. See Note 16 for additional information regarding the Company’s leases. Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income In February 2018, the FASB issued new guidance related to the accounting for certain stranded income tax effects in accumulated other comprehensive income (loss) resulting from tax reform legislation that was enacted in the U.S. in December 2017. This guidance provided companies the option to reclassify stranded income tax effects to retained earnings. The Company adopted this guidance as of April 1, 2019 and chose not to reclassify stranded income tax effects; therefore, the adoption of this guidance did not impact the Company’s consolidated financial statements. New Accounting Guidance Adopted in Fiscal 2019: Revenue Recognition 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 Company adopted this new guidance for fiscal 2019 using the modified-retrospective transition method. The Company assessed customer contracts and evaluated contractual provisions in light of the new guidance. Through its evaluation process, the Company identified a limited number of customer contracts that provide an enforceable right to payment for customized products, which require revenue recognition prior to the product being shipped to the customer. As a result of its adoption of the new guidance, the Company recorded an increase of $0.7 million to retained earnings as of April 1, 2018, along with related balance sheet reclassifications. The increase to retained earnings represented $3.0 million of net sales that, had the new guidance been in effect, the Company would have recognized as of March 31, 2018. See Note 2 for additional information regarding revenue recognition. Income Taxes: Intra-Entity Transfers of Assets Other than Inventory In October 2016, the FASB issued new guidance related to income tax accounting for intercompany asset transfers. This new guidance requires companies to recognize the income tax effects of intercompany asset transfers other than inventory at the transaction date. The income tax effects of these transfers were previously deferred. The Company adopted this new guidance for fiscal 2019 using the modified-retrospective transition method. Upon adoption, the Company recorded a decrease to retained earnings of $8.3 million as of April 1, 2018. New Accounting Guidance Adopted in Fiscal 2018: Stock-based Compensation In March 2016, the FASB issued new guidance to simplify several aspects of accounting for stock-based payment transactions. The Company adopted this guidance beginning in its first quarter of fiscal 2018. The Company elected to account for forfeitures in the period in which they occur and recorded a cumulative-effect adjustment to equity. In addition, the Company prospectively adopted the guidance requiring all excess tax benefits or deficiencies to be recognized as income tax expense or benefit when share-based awards are settled. The provisions of this guidance did not have a material impact on the Company's consolidated financial statements. As a result of adopting this new guidance, the Company recorded a $0.4 million increase to both deferred tax assets and equity as of April 1, 2017.

Significant Accounting Polici_3

Significant Accounting Policies (Tables)	12 Months Ended
	Mar. 31, 2020
Significant Accounting Policies [Abstract]
Supplemental Cash Flow Information	S upplemental cash flow information: Years ended March 31, 2020 2019 2018 Interest paid $ 21.4 $ 22.3 $ 23.4 Income taxes paid 18.8 22.2 20.1

Revenue Recognition (Tables)

Revenue Recognition (Tables)	12 Months Ended
	Mar. 31, 2020
Revenue Recognition [Abstract]
Disaggregation of Revenue	The table below presents revenue to external customers for each of the Company’s business segments by primary end market, by geographic location and based upon the timing of revenue recognition: Year ended March 31, 2020 Year ended March 31, 2019 VTS CIS BHVAC Segment Total VTS CIS BHVAC Segment Total Primary end market: Automotive $ 508.8 $ - $ - $ 508.8 $ 542.8 $ - $ - $ 542.8 Commercial vehicle 323.7 - - 323.7 387.6 - - 387.6 Off-highway 253.9 - - 253.9 314.1 - - 314.1 Commercial HVAC&R - 463.1 176.6 639.7 - 506.3 167.7 674.0 Data center cooling - 107.5 42.7 150.2 - 145.7 41.3 187.0 Industrial cooling - 43.5 - 43.5 - 47.8 - 47.8 Other 90.8 9.8 1.8 102.4 107.2 7.8 3.4 118.4 Net sales $ 1,177.2 $ 623.9 $ 221.1 $ 2,022.2 $ 1,351.7 $ 707.6 $ 212.4 $ 2,271.7 Geographic location: Americas $ 554.4 $ 345.9 $ 139.1 $ 1,039.4 $ 613.7 $ 413.6 $ 124.9 $ 1,152.2 Europe 449.3 232.6 82.0 763.9 538.2 244.8 87.5 870.5 Asia 173.5 45.4 - 218.9 199.8 49.2 - 249.0 Net sales $ 1,177.2 $ 623.9 $ 221.1 $ 2,022.2 $ 1,351.7 $ 707.6 $ 212.4 $ 2,271.7 Timing of revenue recognition: Products transferred at a point in time $ 1,146.4 $ 518.2 $ 221.1 $ 1,885.7 $ 1,308.5 $ 571.1 $ 212.4 $ 2,092.0 Products transferred over time 30.8 105.7 - 136.5 43.2 136.5 - 179.7 Net sales $ 1,177.2 $ 623.9 $ 221.1 $ 2,022.2 $ 1,351.7 $ 707.6 $ 212.4 $ 2,271.7
Contract Assets and Contract Liabilities from Contracts with Customers	Contract assets and contract liabilities from contracts with customers were as follows: March 31, 2020 March 31, 2019 Contract assets $ 21.7 $ 22.6 Contract liabilities 5.6 4.0

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	12 Months Ended
	Mar. 31, 2020
Fair Value Measurements [Abstract]
Fair Value of Pension Plan Assets	Plan assets related to the Company’s pension plans were classified as follows: March 31, 2020 Level 1 Level 2 Total Money market investments $ - $ 2.4 $ 2.4 Fixed income securities - 8.7 8.7 Pooled equity funds 17.9 - 17.9 U.S. government and agency securities - 13.1 13.1 Other 0.1 0.7 0.8 Fair value excluding investments measured at net asset value 18.0 24.9 42.9 Investments measured at net asset value 88.2 Total fair value $ 131.1 March 31, 2019 Level 1 Level 2 Total Money market investments $ - $ 3.9 $ 3.9 Fixed income securities - 9.4 9.4 Pooled equity funds 27.7 - 27.7 U.S. government and agency securities - 12.3 12.3 Other 0.1 0.9 1.0 Fair value excluding investment measured at net asset value 27.8 26.5 54.3 Investment measured at net asset value 100.8 Total fair value $ 155.1

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	12 Months Ended
	Mar. 31, 2020
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: Years ended March 31, 2020 2019 2018 Fair value of options $ 5.56 $ 7.81 $ 7.30 Expected life of awards in years 6.3 6.3 6.4 Risk-free interest rate 2.2 % 2.8 % 1.9 % Expected volatility of the Company's stock 39.2 % 39.7 % 44.3 % Expected dividend yield on the Company's stock 0.0 % 0.0 % 0.0 %
Stock Option Activity	A summary of stock option activity for fiscal 2020 was as follows: Shares Weighted-average Weighted-average remaining contractual term (years) Aggregate intrinsic value Outstanding, beginning 1.2 $ 12.24 Granted 0.3 13.26 Exercised - 7.13 Forfeited or expired (0.1 ) 12.68 Outstanding, ending 1.4 $ 12.49 5.6 $ - Exercisable, March 31, 2020 0.9 $ 11.28 3.9 $ -
Information Related to Stock Options Exercised	Additional information related to stock options exercised is as follows: Years ended March 31, 2020 2019 2018 Intrinsic value of stock options exercised $ 0.1 $ 0.7 $ 4.9 Proceeds from stock options exercised 0.1 1.1 4.3
Restricted Stock Activity	A summary of restricted stock activity for fiscal 2020 was as follows: Shares Weighted-average price Non-vested balance, beginning 0.5 $ 14.95 Granted 0.4 13.54 Vested (0.3 ) 14.02 Forfeited (0.1 ) 14.99 Non-vested balance, ending 0.5 $ 14.48

Restructuring Activities (Table

Restructuring Activities (Tables)	12 Months Ended
	Mar. 31, 2020
Restructuring Activities [Abstract]
Restructuring and Repositioning Expenses	Restructuring and repositioning expenses were as follows: Years ended March 31, 2020 2019 2018 Employee severance and related benefits $ 10.2 $ 8.7 $ 13.0 Other restructuring and repositioning expenses 2.0 0.9 3.0 Total $ 12.2 $ 9.6 $ 16.0
Changes in Accrued Severance	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, 2020 2019 Beginning balance $ 10.0 $ 11.0 Additions 10.2 8.7 Payments (15.1 ) (9.1 ) Effect of exchange rate changes (0.1 ) (0.6 ) Ending balance $ 5.0 $ 10.0

Other Income and Expense (Table

Other Income and Expense (Tables)	12 Months Ended
	Mar. 31, 2020
Other Income and Expense [Abstract]
Other Income and Expense	Other income and expense consisted of the following: Years ended March 31, 2020 2019 2018 Equity in earnings of non-consolidated affiliate (a) $ 0.2 $ 0.7 $ 0.2 Interest income 0.4 0.4 0.4 Foreign currency transactions (b) (2.4 ) (2.3 ) (0.6 ) Net periodic benefit cost (c) (3.0 ) (2.9 ) (3.3 ) Total other expense - net $ (4.8 ) $ (4.1 ) $ (3.3 ) (a) During fiscal 2020, the Company sold its ownership interest in Nikkei Heat Exchanger Company, Ltd. As a result of the sale, the Company recorded a gain of $ million, which is included within the fiscal 2020 amount. See Note 12 for additional information. (b) 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. (c) Net periodic benefit cost for the Company’s pension and postretirement plans is exclusive of service cost.

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Mar. 31, 2020
Income Taxes [Abstract]
Earnings (Loss) Before Income Taxes	Years ended March 31, 2020 2019 2018 Components of earnings (loss) before income taxes: United States $ (26.1 ) $ 22.4 $ 2.5 Foreign 36.5 58.4 60.8 Total earnings before income taxes $ 10.4 $ 80.8 $ 63.3
Income Tax Provision (Benefit)	Income tax provision (benefit): Federal: Current $ (3.4 ) $ (20.4 ) $ 11.6 Deferred (1.7 ) (4.2 ) 23.3 State: Current (0.1 ) 0.7 (0.3 ) Deferred (2.3 ) 1.9 2.0 Foreign: Current 14.9 19.0 16.1 Deferred 5.0 (2.1 ) (13.2 ) Total income tax provision (benefit) $ 12.4 $ (5.1 ) $ 39.5
Reconciliation of U.S. Federal Statutory Rate to Effective Tax Rate	The reconciliation between the U.S. federal statutory rate and the Company’s effective tax rate was as follows: Years ended March 31, 2020 2019 2018 Statutory federal tax 21.0 % 21.0 % 31.5 % State taxes, net of federal benefit (12.0 ) 3.6 2.9 Taxes on non-U.S. earnings and losses 32.9 3.9 (3.8 ) Valuation allowances 156.9 4.0 (5.6 ) Tax credits (36.7 ) (26.1 ) (17.3 ) Compensation 4.0 (0.1 ) (0.8 ) Tax rate or law changes 3.6 (12.0 ) 60.1 Uncertain tax positions, net of settlements (37.9 ) 0.4 (0.8 ) Notional interest deductions (12.5 ) (2.5 ) (3.2 ) Dividends and taxable foreign inclusions (11.0 ) 1.6 0.2 Other 10.9 (0.1 ) (0.8 ) Effective tax rate 119.2 % (6.3 %) 62.4 %
Deferred Tax Assets and Liabilities	The tax effects of temporary differences that gave rise to deferred tax assets and liabilities were as follows: March 31, 2020 2019 Deferred tax assets: Accounts receivable $ 0.3 $ 0.2 Inventories 4.5 3.4 Plant and equipment 4.7 1.8 Lease liabilities 15.7 - Pension and employee benefits 45.1 32.7 Net operating and capital losses 70.2 73.5 Credit carryforwards 56.8 60.3 Other, principally accrued liabilities 8.1 10.0 Total gross deferred tax assets 205.4 181.9 Less: valuation allowances (46.9 ) (43.4 ) Net deferred tax assets 158.5 138.5 Deferred tax liabilities: Plant and equipment 13.1 15.1 Lease assets 15.6 - Goodwill 4.8 4.8 Intangible assets 26.4 28.8 Other 1.9 0.9 Total gross deferred tax liabilities 61.8 49.6 Net deferred tax assets $ 96.7 $ 88.9
Unrecognized Tax Benefits	Unrecognized tax benefits were as follows: Years ended March 31, 2020 2019 Beginning balance $ 13.8 $ 13.6 Gross increases - tax positions in prior period 0.3 1.6 Gross decreases - tax positions in prior period (1.0 ) (0.2 ) Gross increases - tax positions in current period 1.1 1.1 Settlements (2.1 ) (0.1 ) Lapse of statute of limitations (2.4 ) (2.2 ) Ending balance $ 9.7 $ 13.8
Tax Years Subject to Examination	The Company files income tax returns in multiple jurisdictions and is subject to examination by taxing authorities throughout the world. At March 31, 2020, the Company was under income tax examination in a number of jurisdictions. The following tax years remain subject to examination for the Company’s major tax jurisdictions: Germany Fiscal 2011 - Fiscal 2019 Italy Calendar 2015 - Fiscal 2019 United States Fiscal 2017 - Fiscal 2019

Earnings Per Share (Tables)

Earnings Per Share (Tables)	12 Months Ended
	Mar. 31, 2020
Earnings Per Share [Abstract]
Basic and Diluted Earnings Per Share	The components of basic and diluted earnings per share were as follows: Years ended March 31, 2020 2019 2018 Basic Earnings Per Share: Net (loss) earnings attributable to Modine $ (2.2 ) $ 84.8 $ 22.2 Less: Undistributed earnings attributable to unvested shares - (0.4 ) (0.2 ) Net (loss) earnings available to Modine shareholders $ (2.2 ) $ 84.4 $ 22.0 Weighted-average shares outstanding - basic 50.8 50.5 49.9 Net (loss) earnings per share - basic $ (0.04 ) $ 1.67 $ 0.44 Diluted Earnings Per Share: Net (loss) earnings attributable to Modine $ (2.2 ) $ 84.8 $ 22.2 Less: Undistributed earnings attributable to unvested shares - (0.2 ) (0.1 ) Net (loss) earnings available to Modine shareholders $ (2.2 ) $ 84.6 $ 22.1 Weighted-average shares outstanding - basic 50.8 50.5 49.9 Effect of dilutive securities - 0.8 1.0 Weighted-average shares outstanding - diluted 50.8 51.3 50.9 Net (loss) earnings per share - diluted $ (0.04 ) $ 1.65 $ 0.43

Cash, Cash Equivalents and Re_2

Cash, Cash Equivalents and Restricted Cash (Tables)	12 Months Ended
	Mar. 31, 2020
Cash, Cash Equivalents and Restricted Cash [Abstract]
Cash and Cash Equivalents and Restricted Cash	Cash, cash equivalents and restricted cash consisted of the following: March 31, 2020 2019 Cash and cash equivalents $ 70.9 $ 41.7 Restricted cash 0.4 0.5 Total cash, cash equivalents and restricted cash $ 71.3 $ 42.2

Inventories (Tables)

Inventories (Tables)	12 Months Ended
	Mar. 31, 2020
Inventories [Abstract]
Inventories	Inventories consisted of the following: March 31, 2020 2019 Raw materials $ 123.6 $ 122.8 Work in process 34.6 32.2 Finished goods 49.2 45.7 Total inventories $ 207.4 $ 200.7

Property, Plant and Equipment (

Property, Plant and Equipment (Tables)	12 Months Ended
	Mar. 31, 2020
Property, Plant and Equipment [Abstract]
Property, Plant and Equipment	Property, plant and equipment, including depreciable lives, consisted of the following: March 31, 2020 2019 Land $ 19.7 $ 20.7 Buildings and improvements (10-40 years) 276.7 285.9 Machinery and equipment (3-15 years) 870.3 848.7 Office equipment (3-10 years) 95.2 92.0 Construction in progress 40.5 57.4 1,302.4 1,304.7 Less: accumulated depreciation (854.4 ) (820.0 ) Net property, plant and equipment $ 448.0 $ 484.7

Intangible Assets (Tables)

Intangible Assets (Tables)	12 Months Ended
	Mar. 31, 2020
Intangible Assets [Abstract]
Intangible Assets	Intangible assets consisted of the following: March 31, 2020 March 31, 2019 Gross Carrying Value Accumulated Amortization Net Intangible Assets Gross Carrying Value Accumulated Amortization Net Intangible Assets Customer relationships $ 60.8 $ (12.6 ) $ 48.2 $ 61.5 $ (9.1 ) $ 52.4 Trade names 58.3 (16.2 ) 42.1 58.9 (13.5 ) 45.4 Acquired technology 23.6 (7.6 ) 16.0 23.9 (5.5 ) 18.4 Total intangible assets $ 142.7 $ (36.4 ) $ 106.3 $ 144.3 $ (28.1 ) $ 116.2

Goodwill (Tables)

Goodwill (Tables)	12 Months Ended
	Mar. 31, 2020
Goodwill [Abstract]
Changes in Carrying Amount of Goodwill	Changes in the carrying amount of goodwill, by segment and in the aggregate, were as follows: VTS CIS BHVAC Total Balance, March 31, 2018 $ 0.5 $ 158.3 $ 15.0 $ 173.8 Effect of exchange rate changes - (4.4 ) (0.9 ) (5.3 ) Balance, March 31, 2019 0.5 153.9 14.1 168.5 Impairment charge (0.5 ) - - (0.5 ) Effect of exchange rate changes - (1.3 ) (0.6 ) (1.9 ) Balance, March 31, 2020 $ - $ 152.6 $ 13.5 $ 166.1

Product Warranties and Other _2

Product Warranties and Other Commitments (Tables)	12 Months Ended
	Mar. 31, 2020
Product Warranties and Other Commitments [Abstract]
Changes in Accrued Warranty Costs	Changes in accrued warranty costs were as follows: Years ended March 31 , 2020 2019 Beginning balance $ 9.2 $ 9.3 Warranties recorded at time of sale 5.3 5.5 Adjustments to pre-existing warranties (1.6 ) 2.2 Settlements (4.8 ) (7.3 ) Effect of exchange rate changes (0.2 ) (0.5 ) Ending balance $ 7.9 $ 9.2

Leases (Tables)

Leases (Tables)	12 Months Ended
	Mar. 31, 2020
Leases [Abstract]
Lease Assets and Liabilities Recorded in Consolidated Balance Sheet	Lease Assets and Liabilities: Balance Sheet Location March 31, 2020 Lease Assets Operating lease ROU assets Other noncurrent assets $ 61.4 Finance lease ROU assets (a) Property, plant and equipment - net 8.5 Lease Liabilities Operating lease liabilities Other current liabilities $ 10.9 Operating lease liabilities Other noncurrent liabilities 50.3 Finance lease liabilities Long-term debt - current portion 0.4 Finance lease liabilities Long-term debt 3.3 (a) Finance lease ROU assets were recorded net of accumulated amortization of $1.8 million as of March 31, 2020.
Components of Lease Expense	The components of lease expense were as follows: Year ended March 31, 2020 Operating lease expense (a) $ 21.2 Finance lease expense: Depreciation of ROU assets 0.5 Interest on lease liabilities 0.2 Total lease expense $ 21.9 (a) In fiscal 2020, operating lease expense included short-term lease expense of $4.1 million. Variable lease expense was not significant.
Supplemental Cash Flow Information	Supplemental Cash Flow Information Year ended March 31, 2020 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows for operating leases $ 14.7 Financing cash flows for finance leases 0.5 ROU assets obtained in exchange for lease liabilities Operating leases $ 9.0 Finance leases 0.2
Lease Term and Discount Rates	Lease Term and Discount Rates March 31, 2020 Weighted-average remaining lease term: Operating leases 9.3 years Finance leases 8.8 years Weighted-average discount rate: Operating leases 3.5 % Finance leases 4.7 %
Maturity of Lease Liabilities under New Lease Accounting Guidance	Maturity of Lease Liabilities under New Lease Accounting Guidance: Fiscal Year Operating Leases Finance Leases 2021 $ 12.8 $ 0.5 2022 11.4 0.5 2023 9.3 0.5 2024 6.3 0.5 2025 5.8 0.5 2026 and beyond 26.2 2.0 Total lease payments 71.8 4.5 Less: Interest (10.6 ) (0.8 ) Present value of lease liabilities $ 61.2 $ 3.7
Maturity of Lease Liabilities under Previous Lease Accounting Guidance	Maturity of Lease Liabilities under Previous Lease Accounting Guidance: Fiscal Year 2020 $ 14.2 2021 12.4 2022 9.1 2023 7.1 2024 4.7 2025 and beyond 22.9 Total $ 70.4

Indebtedness (Tables)

Indebtedness (Tables)	12 Months Ended
	Mar. 31, 2020
Indebtedness [Abstract]
Long-Term Indebtedness	Long-term debt consisted of the following: io Fiscal year of maturity March 31, 2020 March 31, 2019 Term loans 2025 $ 189.4 $ 238.4 Revolving credit facility 2025 127.2 47.1 5.9% Senior Notes 2029 100.0 - 5.8% Senior Notes 2027 50.0 50.0 6.8% Senior Notes 2021 - 85.0 Other (a) 6.0 14.3 472.6 434.8 Less: current portion (15.6 ) (48.6 ) Less: unamortized debt issuance costs (5.0 ) (4.0 ) Total long-term debt $ 452.0 $ 382.2 (a) Other long-term debt primarily includes borrowings by foreign subsidiaries and finance lease obligations.
Maturities of Long Term Debt and Capital Lease Obligations	Long-term debt matures as follows: Fiscal Year 2021 $ 15.6 2022 21.7 2023 21.7 2024 21.7 2025 273.6 2026 & beyond 118.3 Total $ 472.6

Pension and Employee Benefit _2

Pension and Employee Benefit Plans (Tables)	12 Months Ended
	Mar. 31, 2020
Pension and Employee Benefit Plans [Abstract]
Changes in Benefit Obligations and Plan Assets	Changes in benefit obligations and plan assets, as well as the funded status of the Company’s global pension plans, were as follows: Years ended March 31, 2020 2019 Change in benefit obligation: Benefit obligation at beginning of year $ 258.8 $ 273.6 Service cost 0.4 0.5 Interest cost 9.1 9.6 Actuarial loss 15.5 1.7 Benefits paid (18.2 ) (22.8 ) Curtailment gain (a) (0.3 ) - Effect of exchange rate changes (0.6 ) (3.8 ) Benefit obligation at end of year $ 264.7 $ 258.8 Change in plan assets: Fair value of plan assets at beginning of year $ 155.1 $ 157.7 Actual return on plan assets (11.6 ) 6.3 Benefits paid (18.2 ) (22.8 ) Employer contributions 5.8 13.9 Fair value of plan assets at end of year $ 131.1 $ 155.1 Funded status at end of year $ (133.6 ) $ (103.7 ) Amounts recognized in the consolidated balance sheets: Current liability $ (2.7 ) $ (2.0 ) Noncurrent liability (130.9 ) (101.7 ) $ (133.6 ) $ (103.7 ) (a) The $0.3 million curtailment gain, which is associated with headcount reductions in Europe within the VTS segment, will be recognized as a component of net periodic benefit cost following the completion of the headcount reductions. See Note 5 for additional information on the Company’s restructuring activities.
Pension Benefit Plans	Costs for the Company’s global pension plans included the following components: Years ended March 31, 2020 2019 2018 Components of net periodic benefit cost: Service cost $ 0.4 $ 0.5 $ 0.5 Interest cost 9.1 9.6 9.9 Expected return on plan assets (12.0 ) (12.3 ) (11.9 ) Amortization of net actuarial loss 6.0 5.6 5.6 Settlements (a) 0.2 0.2 0.3 Curtailment gain (a) - - (0.3 ) Net periodic benefit cost $ 3.7 $ 3.6 $ 4.1 Other changes in benefit obligation recognized in other comprehensive income (loss): Net actuarial loss $ (38.7 ) $ (7.7 ) $ (5.8 ) Amortization of net actuarial loss 6.2 5.8 5.9 Total recognized in other comprehensive income (loss) $ (32.5 ) $ (1.9 ) $ 0.1 (a) The settlement charges and curtailment gain resulted from activity associated with the Company’s non-U.S. pension plans.
Target and Plan Asset Allocations	Plan assets in the Company’s U.S. pension 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, 2020 and 2019 were as follows: Target allocation Plan assets 2020 2019 Equity securities 65 % 60 % 66 % Debt securities 21 % 22 % 19 % Real estate investments 13 % 16 % 12 % Cash and cash equivalents 1 % 2 % 3 % 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 2021 $ 17.2 2022 16.8 2023 16.7 2024 16.7 2025 16.8 2026-2030 80.6

Derivative Instruments (Tables)

Derivative Instruments (Tables)	12 Months Ended
	Mar. 31, 2020
Derivative Instruments [Abstract]
Derivative Financial Instruments Recorded in 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, 2020 March 31, 2019 Derivatives designated as hedges: Commodity derivatives Other current assets $ - $ 0.6 Commodity derivatives Other current liabilities 1.3 0.3 Foreign exchange contracts Other current assets 0.1 0.2 Derivatives not designated as hedges: Foreign exchange contracts Other current liabilities $ - $ 0.5
Derivative Financial Instruments Designated for Hedge Accounting	The amounts associated with derivative financial instruments that the Company designated for hedge accounting were as follows: Gain (loss) recognized in other comprehensive income Statement of Operations Gain (loss) reclassified from AOCI 2020 2019 2018 Location 2020 2019 2018 Commodity derivatives $ (2.6 ) $ (0.3 ) $ 0.2 Cost of sales $ (0.8 ) $ (0.4 ) $ - Foreign exchange contracts (0.1 ) (0.4 ) 0.1 Net sales (0.1 ) (0.4 ) 0.1 Foreign exchange contracts 0.2 1.0 - Cost of sales 0.4 0.6 - Total gains (losses) $ (2.5 ) $ 0.3 $ 0.3 $ (0.5 ) $ (0.2 ) $ 0.1
Derivative Financial Instruments Not Designated for Hedge Accounting	The amounts associated with derivative financial instruments that the Company did not designate for hedge accounting were as follows: _ Statement of Operations Location Years ended March 31, _ 2020 2019 2018 Commodity derivatives Cost of sales $ - $ - $ 0.4 Foreign exchange contracts Net sales (0.1 ) (0.7 ) (0.1 ) Foreign exchange contracts Other income (expense) - net (0.1 ) (0.3 ) (0.5 ) Total losses $ (0.2 ) $ (1.0 ) $ (0.2 )

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Loss (Tables)	12 Months Ended
	Mar. 31, 2020
Accumulated Other Comprehensive Loss [Abstract]
Accumulated Other Comprehensive Loss	Changes in accumulated other comprehensive loss were as follows: Foreign Currency Translation Defined Benefit Plans Cash Flow Hedges Total Balance, March 31, 2019 $ (42.6 ) $ (136.3 ) $ 0.5 $ (178.4 ) Other comprehensive loss before reclassifications (18.2 ) (38.7 ) (2.5 ) (59.4 ) Reclassifications: Amortization of unrecognized net loss (a) - 5.8 - 5.8 Realized losses - net (b) - - 0.5 0.5 Foreign currency translation gains (c) (0.6 ) - - (0.6 ) Income taxes - 8.3 0.5 8.8 Total other comprehensive loss (18.8 ) (24.6 ) (1.5 ) (44.9 ) Balance, March 31, 2020 $ (61.4 ) $ (160.9 ) $ (1.0 ) $ (223.3 ) Foreign Currency Translation Defined Benefit Plans Cash Flow Hedges Total Balance, March 31, 2018 $ (5.5 ) $ (134.9 ) $ 0.1 $ (140.3 ) Other comprehensive income (loss) before reclassifications (37.9 ) (7.1 ) 0.3 (44.7 ) Reclassifications: Amortization of unrecognized net loss (a) - 5.4 - 5.4 Realized losses - net (b) - - 0.2 0.2 Foreign currency translation losses (d) 0.8 - - 0.8 Income taxes - 0.3 (0.1 ) 0.2 Total other comprehensive income (loss) (37.1 ) (1.4 ) 0.4 (38.1 ) Balance, March 31, 2019 $ (42.6 ) $ (136.3 ) $ 0.5 $ (178.4 ) (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 18 for additional information about the Company’s pension plans. (b) Amounts represent net gains and losses associated with cash flow hedges that were reclassified to net earnings. See Note 19 for additional information regarding derivative instruments. (c) As a result of the sale of its investment in NEX during fiscal 2020, the Company wrote off $0.6 million of accumulated foreign currency translation gains. (d) As a result of the sale of a business in South Africa during fiscal 2019, the Company wrote off $0.8 million of accumulated foreign currency translation losses.

Segment and Geographic Inform_2

Segment and Geographic Information (Tables)	12 Months Ended
	Mar. 31, 2020
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: Year ended March 31, 2020 External Sales Inter-segment Sales Total Net sales: VTS $ 1,136.0 $ 41.2 $ 1,177.2 CIS 620.1 3.8 623.9 BHVAC 219.4 1.7 221.1 Segment total 1,975.5 46.7 2,022.2 Corporate and eliminations - (46.7 ) (46.7 ) Net sales $ 1,975.5 $ - $ 1,975.5 Year ended March 31, 2019 External Sales Inter-segment Sales Total Net sales: VTS $ 1,298.9 $ 52.8 $ 1,351.7 CIS 704.7 2.9 707.6 BHVAC 209.1 3.3 212.4 Segment total 2,212.7 59.0 2,271.7 Corporate and eliminations - (59.0 ) (59.0 ) Net sales $ 2,212.7 $ - $ 2,212.7 Year ended March 31, 2018 External Sales Inter-segment Sales Total Net sales: VTS $ 1,239.3 $ 56.4 $ 1,295.7 CIS 674.4 1.3 675.7 BHVAC 189.4 1.8 191.2 Segment total 2,103.1 59.5 2,162.6 Corporate and eliminations - (59.5 ) (59.5 ) Net sales $ 2,103.1 $ - $ 2,103.1 Inter-segment sales are accounted for based upon an established markup over production costs. Net sales for Corporate and eliminations primarily represent the elimination of inter-segment sales. Years ended March 31, 2020 2019 2018 Gross profit: $'s % of sales $'s % of sales $'s % of sales VTS $ 144.9 12.3 % $ 186.9 13.8 % $ 201.0 15.5 % CIS 92.9 14.9 % 114.9 16.2 % 97.8 14.5 % BHVAC 71.5 32.3 % 63.4 29.9 % 58.0 30.3 % Segment total 309.3 15.3 % 365.2 16.1 % 356.8 16.5 % Corporate and eliminations (1.8 ) - 0.3 - (0.3 ) - Gross profit $ 307.5 15.6 % $ 365.5 16.5 % $ 356.5 17.0 % Years ended March 31, Operating income: 2020 2019 2018 VTS $ 27.6 $ 64.8 $ 84.2 CIS 32.9 53.4 28.5 BHVAC 36.4 26.9 20.3 Segment total 96.9 145.1 133.0 Corporate and eliminations (a) (59.0 ) (35.4 ) (40.8 ) Operating income $ 37.9 $ 109.7 $ 92.2 (a) 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. During fiscal 2020 and 2019, the Company recorded $39.2 million and $7.1 million, respectively, of costs directly associated with its review of strategic alternatives for the VTS segment’s automotive business, including costs to separate and prepare the business for potential sale. The following is a summary of total assets by segment: March 31, 2020 2019 VTS $ 683.9 $ 749.9 CIS 617.7 604.2 BHVAC 102.3 89.4 Corporate and eliminations 132.2 94.5 Total assets $ 1,536.1 $ 1,538.0
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: 2020 2019 2018 VTS $ 53.2 $ 56.2 $ 61.4 CIS 15.0 16.4 9.0 BHVAC 3.1 1.3 0.6 Total capital expenditures $ 71.3 $ 73.9 $ 71.0 Years ended March 31, Depreciation and amortization expense: 2020 2019 2018 VTS $ 49.7 $ 49.5 $ 48.2 CIS 24.0 23.9 24.3 BHVAC 3.4 3.5 4.2 Total depreciation and amortization expense $ 77.1 $ 76.9 $ 76.7
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, 2020 2019 2018 United States $ 941.9 $ 1,032.3 $ 911.4 Italy 187.4 217.3 211.5 China 168.5 172.1 156.0 Hungary 142.4 165.6 153.9 Germany 97.5 123.1 132.6 Austria 93.0 116.2 151.7 Other 344.8 386.1 386.0 Net sales $ 1,975.5 $ 2,212.7 $ 2,103.1
Property, Plant and Equipment by Geographical Area	The following is a summary of property, plant and equipment by geographical area: March 31, 2020 2019 United States $ 114.6 $ 117.7 China 56.8 57.6 Hungary 55.4 55.3 Mexico 50.0 56.3 Italy 49.8 52.4 Germany 27.0 32.8 Austria 26.0 36.9 Other 68.4 75.7 Total property, plant and equipment $ 448.0 $ 484.7
Net Sales by End Market	The following is a summary of net sales by end market: Years ended March 31, 2020 2019 2018 Commercial HVAC&R $ 639.7 $ 674.0 $ 648.3 Automotive 508.8 542.8 526.0 Commercial vehicle 323.7 387.6 381.7 Off-highway 253.9 314.1 271.2 Data center cooling 150.2 187.0 137.6 Industrial cooling 43.5 47.8 67.6 Other 55.7 59.4 70.7 Net sales $ 1,975.5 $ 2,212.7 $ 2,103.1

Quarterly Financial Data (Una_2

Quarterly Financial Data (Unaudited) (Tables)	12 Months Ended
	Mar. 31, 2020
Quarterly Financial Data (Unaudited) [Abstract]
Quarterly Financial Data	The following is a summary of quarterly financial data: Fiscal 2020 quarters ended June Sept. Dec. March Fiscal 2020 Net sales $ 529.0 $ 500.2 $ 473.4 $ 472.9 $ 1,975.5 Gross profit 83.4 75.7 73.5 74.9 307.5 Net earnings (loss) (a) 8.2 (4.8 ) 1.0 (6.4 ) (2.0 ) Net earnings (loss) attributable to Modine (a) 8.0 (4.7 ) 1.2 (6.7 ) (2.2 ) Net earnings (loss) per share attributable to Modine shareholders: Basic $ 0.16 $ (0.09 ) $ 0.02 $ (0.13 ) $ (0.04 ) Diluted 0.16 (0.09 ) 0.02 (0.13 ) (0.04 ) Fiscal 2019 quarters ended June Sept. Dec. March Fiscal 2019 Net sales $ 566.1 $ 548.9 $ 541.0 $ 556.7 $ 2,212.7 Gross profit 94.3 87.9 91.7 91.6 365.5 Net earnings (b) 22.5 38.7 18.3 6.4 85.9 Net earnings attributable to Modine (b) 22.0 38.5 18.0 6.3 84.8 Net earnings per share attributable to Modine shareholders: Basic $ 0.43 $ 0.76 $ 0.36 $ 0.12 $ 1.67 Diluted 0.43 0.75 0.35 0.12 1.65 (a) During fiscal 2020, restructuring expenses totaled $ million, $ million, $ million, and $ million for the quarters ended June 30, 2019, September 30, 2019, December 31, 2019, and March 31, 2020, respectively (see Note 5). During the third quarter of fiscal 2020, the Company sold a previously-closed manufacturing facility in Germany and, as a result, recorded a gain of $ million (see Note 1). During the fourth quarter of fiscal 2020, the Company recorded asset impairment charges totaling $ million related to long-lived assets and goodwill (see Note 5 and Note 14). During fiscal 2020, costs associated with the Company’s review of strategic alternatives for the VTS segment’s automotive business totaled $ million, $ million, $ million, and $ million for the quarters ended June 30, 2019, September 30, 2019, December 31, 2019, and March 31, 2020, respectively. During fiscal 2020, the Company adjusted its valuation allowances on deferred tax assets in the U.S and in Brazil. As a result, the Company recorded net income tax charges totaling $ million and $ million in the third and fourth quarters, respectively. Also during fiscal 2020, the Company recorded a net income tax charge totaling $ million, $ million of which was recorded in the third quarter, as a result of legal entity restructuring completed in preparation of a potential sale of the automotive business (see Note 7). (b) During fiscal 2019, restructuring expenses totaled $0.2 million, $0.5 million, and $8.9 million for the quarters ended June 30, 2018, December 31, 2018, and March 31, 2019, respectively (see Note 5). During the second quarter of fiscal 2019, the Company sold its South African business within the BHVAC segment and, as a result, recorded a loss of $1.7 million (see Note 1). During the third quarter of fiscal 2019, the Company recorded a $0.4 million impairment charge related to a manufacturing facility in Austria (see Note 5). During the third and fourth quarter of fiscal 2019, the Company incurred $1.2 million and $5.9 million of costs associated with its review of strategic alternatives for the VTS segment’s automotive business. The Company’s income tax benefit for fiscal 2019 includes net benefits of $24.4 million and net charges of $2.2 million in the second and third quarters, respectively, related to the Tax Act and the recognition of foreign tax credits (see Note 7). During fiscal 2019, the Company adjusted its valuation allowances on deferred tax assets related to two separate subsidiaries in China and, as a result, recorded a $2.0 million income tax benefit and a $1.0 million income tax charge in the first and second quarters, respectively (see Note 7).

Significant Accounting Polici_4

Significant Accounting Policies, Sale of Facility in Germany (Details) - USD ($) $ in Millions	3 Months Ended	12 Months Ended
	Dec. 31, 2019	Mar. 31, 2020	Mar. 31, 2019	Mar. 31, 2018
Sale of Business [Abstract]
Gain on sale of assets		$ 0.8	$ (1.7)	$ 0
Vehicular Thermal Solutions [Member]
Sale of Business [Abstract]
Selling price		6
Gain on sale of assets	$ 0.8	$ 0.8

Significant Accounting Polici_5

Significant Accounting Policies, Sale of Nikkei Heat Exchanger Company, Ltd. ("NEX") (Details) - Nikkei Heat Exchanger Company, Ltd [Member] $ in Millions	12 Months Ended
	Mar. 31, 2020USD ($)
Sale of Business [Abstract]
Ownership percentage	50.00%
Selling price	$ 3.8
Gain (loss) on sale of business	0.1
Gain on write-off of accumulated foreign currency translation	$ 0.6

Significant Accounting Polici_6

Significant Accounting Policies, Sale of AIAC Air Conditioning South Africa (Pty) Ltd (Details) - AIAC Air Conditioning South Africa (Pty) Ltd [Member] $ in Millions	12 Months Ended
	Mar. 31, 2019USD ($)
Sale of AIAC Air Conditioning South Africa (Pty) Ltd [Abstract]
Selling price	$ 0.5
Loss on sale of assets	(1.7)
Loss on write-off of accumulated foreign currency translation	(0.8)
Maximum [Member]
Sale of AIAC Air Conditioning South Africa (Pty) Ltd [Abstract]
Annual net sales attributable to disposed business	$ 2

Significant Accounting Polici_7

Significant Accounting Policies, Trade Accounts Receivable (Details) - USD ($) $ in Millions	12 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Mar. 31, 2018
Trade accounts receivable [Abstract]
Trade receivables, allowance for doubtful accounts	$ (1.9)	$ (1.6)
Trade receivables sold without recourse	75.4	85.1	$ 65.8
Loss on the sale of accounts receivables	$ (0.5)	$ (0.6)	$ (0.4)

Significant Accounting Polici_8

Significant Accounting Policies, Tooling Costs and Research and Development (Details) - USD ($) $ in Millions	12 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Mar. 31, 2018
Research and development [Abstract]
Research and development cost	$ 59.5	$ 69.8	$ 65.8
Tools [Member]
Tooling [Abstract]
Property, plant and equipment, depreciable lives	3 years
Company-owned tooling, net	$ 23.3	24.2
Customer owned tooling receivable	$ 7.8	$ 11.6

Significant Accounting Polici_9

Significant Accounting Policies, Short-term Investments, Property, Plant and Equipment and Assets Held for Sale (Details) - USD ($) $ in Millions	12 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Mar. 31, 2018
Short-Term Investments [Abstract]
Short-term investments	$ 3.2	$ 4.3
Property, Plant and Equipment [Abstract]
Capital expenditures accrued	8.7	17.9	$ 15.8
Goodwill [Abstract]
Goodwill impairment charge	0.5
Impairment of Long-lived Assets [Abstract]
Impairment of long-lived assets	8.1
Assets Held For Sale [Abstract]
Carrying value of assets held-for-sale	0.6	$ 1.1
VTS [Member]
Goodwill [Abstract]
Goodwill impairment charge	$ 0.5

Significant Accounting Polic_10

Significant Accounting Policies, Supplemental Cash Flow Information (Details) - USD ($) $ in Millions	12 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Mar. 31, 2018
Supplemental cash flow information [Abstract]
Interest paid	$ 21.4	$ 22.3	$ 23.4
Income taxes paid	$ 18.8	$ 22.2	$ 20.1

Significant Accounting Polic_11

Significant Accounting Policies, Leases (Details) $ in Millions	Mar. 31, 2020USD ($)	Mar. 31, 2019USD ($)Lease
Leases [Abstract]
Right-of-use assets	$ 61.4	$ 61.3
Operating lease liabilities, current	10.9	12.4
Operating lease liabilities, noncurrent	50.3	48.9
Operating lease liabilities	$ 61.2
Build-to-Suit Arrangements [Member]
Leases [Abstract]
Right-of-use assets		5.2
Operating lease liabilities		$ 5.2
Number of operating leases | Lease		2

Significant Accounting Polic_12

Significant Accounting Policies, New Accounting Guidance (Details) - USD ($) $ in Millions	3 Months Ended								12 Months Ended
	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2020	Mar. 31, 2019	Mar. 31, 2018	Mar. 31, 2017
New Accounting Guidance [Abstract]
Net sales	$ 472.9	$ 473.4	$ 500.2	$ 529	$ 556.7	$ 541	$ 548.9	$ 566.1	$ 1,975.5	$ 2,212.7	$ 2,103.1
Retained earnings	469.9				472.1				469.9	472.1
Deferred income taxes	104.8				97.1				104.8	97.1
Equity	$ 487.9				$ 533.9				$ 487.9	$ 533.9
ASU 2016-16 [Member]
New Accounting Guidance [Abstract]
Retained earnings											(8.3)
ASU 2016-09 [Member]
New Accounting Guidance [Abstract]
Deferred income taxes												$ 0.4
Equity												$ 0.4
ASU 2014-09 [Member] | Maximum [Member]
New Accounting Guidance [Abstract]
Retained earnings											0.7
ASU 2014-09 [Member] | Effect of Adoption of ASC 606 [Member]
New Accounting Guidance [Abstract]
Net sales											$ 3

Revenue Recognition, Disaggrega

Revenue Recognition, Disaggregation of Revenue (Details) - USD ($) $ in Millions	3 Months Ended								12 Months Ended
	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2020	Mar. 31, 2019	Mar. 31, 2018
Disaggregation of Revenue [Abstract]
Net sales	$ 472.9	$ 473.4	$ 500.2	$ 529	$ 556.7	$ 541	$ 548.9	$ 566.1	$ 1,975.5	$ 2,212.7	$ 2,103.1
Contract with Customer, Asset and Liability [Abstract]
Contract assets	21.7				22.6				21.7	22.6
Contract liabilities	$ 5.6				$ 4				5.6	4
Decrease in contract assets									(0.9)
Increase in contract liabilities									1.6
Automotive [Member]
Disaggregation of Revenue [Abstract]
Net sales									508.8	542.8	526
Commercial Vehicle [Member]
Disaggregation of Revenue [Abstract]
Net sales									323.7	387.6	381.7
Off-Highway [Member]
Disaggregation of Revenue [Abstract]
Net sales									253.9	314.1	271.2
Commercial HVAC&R [Member]
Disaggregation of Revenue [Abstract]
Net sales									639.7	674	648.3
Data Center Cooling [Member]
Disaggregation of Revenue [Abstract]
Net sales									150.2	187	137.6
Industrial Cooling [Member]
Disaggregation of Revenue [Abstract]
Net sales									43.5	47.8	67.6
Other [Member]
Disaggregation of Revenue [Abstract]
Net sales									55.7	59.4	70.7
VTS [Member]
Disaggregation of Revenue [Abstract]
Net sales									1,177.2	1,351.7	1,295.7
VTS [Member] | Products Transferred at a Point in Time [Member]
Disaggregation of Revenue [Abstract]
Net sales									1,146.4	1,308.5
VTS [Member] | Products Transferred Over Time [Member]
Disaggregation of Revenue [Abstract]
Net sales									30.8	43.2
VTS [Member] | Americas [Member]
Disaggregation of Revenue [Abstract]
Net sales									554.4	613.7
VTS [Member] | Europe [Member]
Disaggregation of Revenue [Abstract]
Net sales									449.3	538.2
VTS [Member] | Asia [Member]
Disaggregation of Revenue [Abstract]
Net sales									173.5	199.8
VTS [Member] | Automotive [Member]
Disaggregation of Revenue [Abstract]
Net sales									508.8	542.8
VTS [Member] | Commercial Vehicle [Member]
Disaggregation of Revenue [Abstract]
Net sales									323.7	387.6
VTS [Member] | Off-Highway [Member]
Disaggregation of Revenue [Abstract]
Net sales									253.9	314.1
VTS [Member] | Commercial HVAC&R [Member]
Disaggregation of Revenue [Abstract]
Net sales									0	0
VTS [Member] | Data Center Cooling [Member]
Disaggregation of Revenue [Abstract]
Net sales									0	0
VTS [Member] | Industrial Cooling [Member]
Disaggregation of Revenue [Abstract]
Net sales									0	0
VTS [Member] | Other [Member]
Disaggregation of Revenue [Abstract]
Net sales									90.8	107.2
CIS [Member]
Disaggregation of Revenue [Abstract]
Net sales									623.9	707.6	675.7
CIS [Member] | Products Transferred at a Point in Time [Member]
Disaggregation of Revenue [Abstract]
Net sales									518.2	571.1
CIS [Member] | Products Transferred Over Time [Member]
Disaggregation of Revenue [Abstract]
Net sales									105.7	136.5
CIS [Member] | Americas [Member]
Disaggregation of Revenue [Abstract]
Net sales									345.9	413.6
CIS [Member] | Europe [Member]
Disaggregation of Revenue [Abstract]
Net sales									232.6	244.8
CIS [Member] | Asia [Member]
Disaggregation of Revenue [Abstract]
Net sales									45.4	49.2
CIS [Member] | Automotive [Member]
Disaggregation of Revenue [Abstract]
Net sales									0	0
CIS [Member] | Commercial Vehicle [Member]
Disaggregation of Revenue [Abstract]
Net sales									0	0
CIS [Member] | Off-Highway [Member]
Disaggregation of Revenue [Abstract]
Net sales									0	0
CIS [Member] | Commercial HVAC&R [Member]
Disaggregation of Revenue [Abstract]
Net sales									463.1	506.3
CIS [Member] | Data Center Cooling [Member]
Disaggregation of Revenue [Abstract]
Net sales									107.5	145.7
CIS [Member] | Industrial Cooling [Member]
Disaggregation of Revenue [Abstract]
Net sales									43.5	47.8
CIS [Member] | Other [Member]
Disaggregation of Revenue [Abstract]
Net sales									9.8	7.8
BHVAC [Member]
Disaggregation of Revenue [Abstract]
Net sales									221.1	212.4	191.2
BHVAC [Member] | Products Transferred at a Point in Time [Member]
Disaggregation of Revenue [Abstract]
Net sales									221.1	212.4
BHVAC [Member] | Products Transferred Over Time [Member]
Disaggregation of Revenue [Abstract]
Net sales									0	0
BHVAC [Member] | Americas [Member]
Disaggregation of Revenue [Abstract]
Net sales									139.1	124.9
BHVAC [Member] | Europe [Member]
Disaggregation of Revenue [Abstract]
Net sales									82	87.5
BHVAC [Member] | Asia [Member]
Disaggregation of Revenue [Abstract]
Net sales									0	0
BHVAC [Member] | Automotive [Member]
Disaggregation of Revenue [Abstract]
Net sales									0	0
BHVAC [Member] | Commercial Vehicle [Member]
Disaggregation of Revenue [Abstract]
Net sales									0	0
BHVAC [Member] | Off-Highway [Member]
Disaggregation of Revenue [Abstract]
Net sales									0	0
BHVAC [Member] | Commercial HVAC&R [Member]
Disaggregation of Revenue [Abstract]
Net sales									176.6	167.7
BHVAC [Member] | Data Center Cooling [Member]
Disaggregation of Revenue [Abstract]
Net sales									42.7	41.3
BHVAC [Member] | Industrial Cooling [Member]
Disaggregation of Revenue [Abstract]
Net sales									0	0
BHVAC [Member] | Other [Member]
Disaggregation of Revenue [Abstract]
Net sales									1.8	3.4
Total Segments [Member]
Disaggregation of Revenue [Abstract]
Net sales									2,022.2	2,271.7	$ 2,162.6
Total Segments [Member] | Products Transferred at a Point in Time [Member]
Disaggregation of Revenue [Abstract]
Net sales									1,885.7	2,092
Total Segments [Member] | Products Transferred Over Time [Member]
Disaggregation of Revenue [Abstract]
Net sales									136.5	179.7
Total Segments [Member] | Americas [Member]
Disaggregation of Revenue [Abstract]
Net sales									1,039.4	1,152.2
Total Segments [Member] | Europe [Member]
Disaggregation of Revenue [Abstract]
Net sales									763.9	870.5
Total Segments [Member] | Asia [Member]
Disaggregation of Revenue [Abstract]
Net sales									218.9	249
Total Segments [Member] | Automotive [Member]
Disaggregation of Revenue [Abstract]
Net sales									508.8	542.8
Total Segments [Member] | Commercial Vehicle [Member]
Disaggregation of Revenue [Abstract]
Net sales									323.7	387.6
Total Segments [Member] | Off-Highway [Member]
Disaggregation of Revenue [Abstract]
Net sales									253.9	314.1
Total Segments [Member] | Commercial HVAC&R [Member]
Disaggregation of Revenue [Abstract]
Net sales									639.7	674
Total Segments [Member] | Data Center Cooling [Member]
Disaggregation of Revenue [Abstract]
Net sales									150.2	187
Total Segments [Member] | Industrial Cooling [Member]
Disaggregation of Revenue [Abstract]
Net sales									43.5	47.8
Total Segments [Member] | Other [Member]
Disaggregation of Revenue [Abstract]
Net sales									$ 102.4	$ 118.4

Fair Value Measurements (Detail

Fair Value Measurements (Details) - USD ($) $ in Millions	12 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Mar. 31, 2018
Deferred Compensation Liability [Abstract]
Investments	$ 3.8	$ 6
Deferred compensation obligations	3.8	6
Decrease in fair value of investments	(2.2)
Decrease in fair value of deferred compensation obligations	(2.2)
U.S. Pension Plans [Member]
U.S. pension plan assets [Abstract]
Fair value of plan assets	131.1	155.1	$ 157.7
U.S. Pension Plans [Member] | Fair Value Excluding Investments Measured at Net Asset Value [Member]
U.S. pension plan assets [Abstract]
Fair value of plan assets	42.9	54.3
U.S. Pension Plans [Member] | Investments Measured at Net Asset Value [Member]
U.S. pension plan assets [Abstract]
Fair value of plan assets	88.2	100.8
Money Market Investments [Member] | U.S. Pension Plans [Member]
U.S. pension plan assets [Abstract]
Fair value of plan assets	2.4	3.9
Fixed Income Securities [Member] | U.S. Pension Plans [Member]
U.S. pension plan assets [Abstract]
Fair value of plan assets	8.7	9.4
Pooled Equity Funds [Member] | U.S. Pension Plans [Member]
U.S. pension plan assets [Abstract]
Fair value of plan assets	17.9	27.7
U.S. Government and Agency Securities [Member] | U.S. Pension Plans [Member]
U.S. pension plan assets [Abstract]
Fair value of plan assets	13.1	12.3
Other [Member] | U.S. Pension Plans [Member]
U.S. pension plan assets [Abstract]
Fair value of plan assets	0.8	1
Level 1 [Member] | U.S. Pension Plans [Member] | Fair Value Excluding Investments Measured at Net Asset Value [Member]
U.S. pension plan assets [Abstract]
Fair value of plan assets	18	27.8
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] | Fixed Income Securities [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	17.9	27.7
Level 1 [Member] | U.S. 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	0.1	0.1
Level 2 [Member] | U.S. Pension Plans [Member] | Fair Value Excluding Investments Measured at Net Asset Value [Member]
U.S. pension plan assets [Abstract]
Fair value of plan assets	24.9	26.5
Level 2 [Member] | Money Market Investments [Member] | U.S. Pension Plans [Member]
U.S. pension plan assets [Abstract]
Fair value of plan assets	2.4	3.9
Level 2 [Member] | Fixed Income Securities [Member] | U.S. Pension Plans [Member]
U.S. pension plan assets [Abstract]
Fair value of plan assets	8.7	9.4
Level 2 [Member] | Pooled Equity Funds [Member] | U.S. Pension Plans [Member]
U.S. pension plan assets [Abstract]
Fair value of plan assets	0	0
Level 2 [Member] | U.S. Government and Agency Securities [Member] | U.S. Pension Plans [Member]
U.S. pension plan assets [Abstract]
Fair value of plan assets	13.1	12.3
Level 2 [Member] | Other [Member] | U.S. Pension Plans [Member]
U.S. pension plan assets [Abstract]
Fair value of plan assets	0.7	0.9
Level 3 [Member] | U.S. Pension Plans [Member]
U.S. pension plan assets [Abstract]
Fair value of plan assets	$ 0	$ 0

Stock-Based Compensation, Incen

Stock-Based Compensation, Incentive Compensation Plan (Details) - USD ($) shares in Millions, $ in Millions	12 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Mar. 31, 2018
Compensation expense [Abstract]
Stock-based compensation cost	$ 6.6	$ 7.9	$ 9.5
2017 Incentive Compensation Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares available for grant (in shares)	1.8

Stock-Based Compensation, Stock

Stock-Based Compensation, Stock Options (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	12 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Mar. 31, 2018
Compensation expense [Abstract]
Stock-based compensation cost	$ 6.6	$ 7.9	$ 9.5
Stock Options [Member]
Compensation expense [Abstract]
Stock-based compensation cost	1.3	1.2	1.2
Fair value of awards vesting	1.2	$ 1.2	$ 1.2
Unrecognized compensation costs	$ 2.4
Weighted average period recognized	2 years 6 months
Assumptions for stock awards granted [Abstract]
Fair value of options (in dollars per share)	$ 5.56	$ 7.81	$ 7.30
Expected life of awards in years	6 years 3 months 18 days	6 years 3 months 18 days	6 years 4 months 24 days
Risk-free interest rate	2.20%	2.80%	1.90%
Expected volatility of the Company's stock	39.20%	39.70%	44.30%
Expected dividend yield on the Company's stock	0.00%	0.00%	0.00%
Award vesting period	4 years
Stock options activity [Rollforward]
Outstanding, beginning (in shares)	1.2
Granted (in shares)	0.3
Exercised (in shares)	0
Forfeited or expired (in shares)	(0.1)
Outstanding, ending (in shares)	1.4	1.2
Exercisable, ending (in shares)	0.9
Weighted average exercise price [Rollforward]
Outstanding, beginning (in dollars per share)	$ 12.24
Granted (in dollars per share)	13.26
Exercised (in dollars per share)	7.13
Forfeited or expired (in dollars per share)	12.68
Outstanding, ending (in dollars per share)	12.49	$ 12.24
Exercisable, ending (in dollars per share)	$ 11.28
Summary of stock option activity [Abstract]
Options, Outstanding, Weighted average remaining contractual term	5 years 7 months 6 days
Options, Outstanding, Aggregate intrinsic value	$ 0
Options, Exercisable, Weighted average remaining contractual term	3 years 10 months 24 days
Options, Exercisable, Aggregate intrinsic value	$ 0
Additional information related to stock options exercised [Abstract]
Intrinsic value of stock options exercised	0.1	$ 0.7	$ 4.9
Proceeds from stock options exercised	$ 0.1	$ 1.1	$ 4.3
Stock Options [Member] | Maximum [Member]
Assumptions for stock awards granted [Abstract]
Stock option term	10 years
Stock Options [Member] | Tranche One [Member]
Assumptions for stock awards granted [Abstract]
Annual vesting percentage	25.00%
Stock Options [Member] | Tranche Two [Member]
Assumptions for stock awards granted [Abstract]
Annual vesting percentage	25.00%
Stock Options [Member] | Tranche Three [Member]
Assumptions for stock awards granted [Abstract]
Annual vesting percentage	25.00%
Stock Options [Member] | Tranche Four [Member]
Assumptions for stock awards granted [Abstract]
Annual vesting percentage	25.00%

Stock-Based Compensation, Restr

Stock-Based Compensation, Restricted Stock (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	12 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Mar. 31, 2018
Compensation expense [Abstract]
Stock-based compensation cost	$ 6.6	$ 7.9	$ 9.5
Restricted Stock [Member]
Compensation expense [Abstract]
Stock-based compensation cost	4.5	4.3	3.9
Fair value of awards vesting	4.4	$ 4.3	3.9
Unrecognized compensation costs	$ 5.1
Weighted average period recognized	2 years 7 months 6 days
Assumptions for stock awards granted [Abstract]
Award vesting period	4 years
Restricted stock activity [Roll Forward]
Non-vested balance, beginning (in shares)	0.5
Granted (in shares)	0.4
Vested (in shares)	(0.3)
Forfeited (in shares)	(0.1)
Non-vested balance, ending (in shares)	0.5	0.5
Weighted average price [Rollforward]
Non-vested balance, beginning (in dollars per share)	$ 14.95
Granted (in dollars per share)	13.54
Vested (in dollars per share)	14.02
Forfeited (in dollars per share)	14.99
Non-vested balance, ending (in dollars per share)	$ 14.48	$ 14.95
Restricted Stock [Member] | Tranche One [Member]
Assumptions for stock awards granted [Abstract]
Annual vesting percentage	25.00%
Restricted Stock [Member] | Tranche Two [Member]
Assumptions for stock awards granted [Abstract]
Annual vesting percentage	25.00%
Restricted Stock [Member] | Tranche Three [Member]
Assumptions for stock awards granted [Abstract]
Annual vesting percentage	25.00%
Restricted Stock [Member] | Tranche Four [Member]
Assumptions for stock awards granted [Abstract]
Annual vesting percentage	25.00%
Performance Stock Awards [Member]
Compensation expense [Abstract]
Stock-based compensation cost	$ 0.8	$ 2.4	$ 4.4
Unrecognized compensation costs	$ 1.1
Weighted average period recognized	1 year 10 months 24 days
Assumptions for stock awards granted [Abstract]
Award vesting period	3 years	3 years	3 years

Restructuring Activities (Detai

Restructuring Activities (Details) - USD ($) $ in Millions	3 Months Ended			12 Months Ended
	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2018	Mar. 31, 2020	Mar. 31, 2019	Mar. 31, 2018
Restructuring and repositioning expenses [Abstract]
Employee severance and related benefits				$ 10.2	$ 8.7	$ 13
Other restructuring and repositioning expenses				2	0.9	3
Total				12.2	9.6	16
Changes in accrued severance [Roll Forward]
Beginning balance	$ 5			10	11
Additions				10.2	8.7
Payments				(15.1)	(9.1)
Effect of exchange rate changes				(0.1)	(0.6)
Ending balance		$ 5		5	10	11
Other [Abstract]
Severance expenses				10.2	8.7	13
Asset impairment charges		$ 8.6	$ 0.4	8.6	0.4	2.5
VTS and CIS [Member] | Forecast [Member]
Restructuring and repositioning expenses [Abstract]
Employee severance and related benefits	4
Other [Abstract]
Severance expenses	$ 4
Commercial and Industrial Solutions ("CIS") [Member]
Other [Abstract]
Restructuring expense						8.3
Asset impairment charges				0.6	$ 0.4	$ 1.3
VTS [Member]
Other [Abstract]
Asset impairment charges				$ 7.5

Other Income and Expense (Detai

Other Income and Expense (Details) - USD ($) $ in Millions		12 Months Ended
		Mar. 31, 2020	Mar. 31, 2019	Mar. 31, 2018
Other Income and Expense [Abstract]
Equity in earnings of non-consolidated affiliate	[1]	$ 0.2	$ 0.7	$ 0.2
Interest income		0.4	0.4	0.4
Foreign currency transactions	[2]	(2.4)	(2.3)	(0.6)
Net periodic benefit cost	[3]	(3)	(2.9)	(3.3)
Total other expense - net		(4.8)	$ (4.1)	$ (3.3)
Nikkei Heat Exchanger Company, Ltd [Member]
Other Income and Expenses [Abstract]
Gain on sale of ownership interest		$ 0.1
[1]	During fiscal 2020, the Company sold its ownership interest in Nikkei Heat Exchanger Company, Ltd.  As a result of the sale, the Company recorded a gain of $0.1 million, which is included within the fiscal 2020 amount.  See Note 12 for additional information.
[2]	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.
[3]	Net periodic benefit cost for the Company’s pension and postretirement plans is exclusive of service cost.

Income Taxes, Earnings (Loss) B

Income Taxes, Earnings (Loss) Before Income Taxes (Details) - USD ($) $ in Millions	12 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Mar. 31, 2018
Earnings (Loss) Before Income Taxes [Abstract]
United States	$ (26.1)	$ 22.4	$ 2.5
Foreign	36.5	58.4	60.8
Earnings before income taxes	$ 10.4	$ 80.8	$ 63.3

Income Taxes, Income Tax Provis

Income Taxes, Income Tax Provision (Benefit) (Details) - USD ($) $ in Millions	12 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Mar. 31, 2018
Federal [Abstract]
Current	$ (3.4)	$ (20.4)	$ 11.6
Deferred	(1.7)	(4.2)	23.3
State [Abstract]
Current	(0.1)	0.7	(0.3)
Deferred	(2.3)	1.9	2
Foreign [Abstract]
Current	14.9	19	16.1
Deferred	5	(2.1)	(13.2)
Total income tax provision (benefit)	$ 12.4	$ (5.1)	$ 39.5

Income Taxes, Tax Cuts and Jobs

Income Taxes, Tax Cuts and Jobs Act (Details) - USD ($) $ in Millions	3 Months Ended		12 Months Ended
	Dec. 31, 2018	Sep. 30, 2018	Mar. 31, 2019	Mar. 31, 2018
Income Taxes [Abstract]
Provisional income tax expense (benefit) related to US Tax Reform				$ 38
Deferred tax assets - change in amount				(19)
Transition tax charge				$ 19
Income tax expense (benefit) related to US Tax Reform	$ 2.2	$ (24.4)	$ (7.7)
Reduction in provisional charge related to US Tax Reform			(9.3)
Transition tax liability			18.9
Reduction in transition tax liability			(0.1)
Charge for reduction in state deferred tax assets			$ 1.7

Income Taxes, Reconciliation of

Income Taxes, Reconciliation of U.S. Federal Statutory Rate to Effective Tax Rate (Details)	12 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Mar. 31, 2018
Reconciliation of federal statutory income tax rate to company's effective income tax rate [Abstract]
Statutory federal tax	21.00%	21.00%	31.50%
State taxes, net of federal benefit	(12.00%)	3.60%	2.90%
Taxes on non-U.S. earnings and losses	32.90%	3.90%	(3.80%)
Valuation allowances	156.90%	4.00%	(5.60%)
Tax credits	(36.70%)	(26.10%)	(17.30%)
Compensation	4.00%	(0.10%)	(0.80%)
Tax rate or law changes	3.60%	(12.00%)	60.10%
Uncertain tax positions, net of settlements	(37.90%)	0.40%	(0.80%)
Notional interest deductions	(12.50%)	(2.50%)	(3.20%)
Dividends and taxable foreign inclusions	(11.00%)	1.60%	0.20%
Other	10.90%	(0.10%)	(0.80%)
Effective tax rate	119.20%	(6.30%)	62.40%

Income Taxes, Unrecognized Tax

Income Taxes, Unrecognized Tax Benefits and Deferred Tax Asset Valuation Allowances (Details) - USD ($) $ in Millions	3 Months Ended					12 Months Ended
	Mar. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2020	Mar. 31, 2019	Mar. 31, 2018
Income Taxes [Abstract]
Income tax expense related to legal entity restructuring		$ 2.7				$ 2.9
Tax benefit from recognition of tax credits							$ (14.5)
Tax (benefit) from foreign development tax credit						12.4	(5.1)	$ 39.5
Income Taxes [Abstract]
Income tax expense (benefit) related to US Tax Reform			$ 2.2	$ (24.4)			(7.7)
Deferred tax asset, income tax expense (benefit)							2.5
Provisional income tax expense (benefit) related to US Tax Reform								38
Change in deferred tax asset valuation allowances	$ 4.1	$ 3		$ 1	$ (2)
Lapse of statute of limitations and settlements						(4.5)
Lapse of statute of limitations						(2.4)	(2.2)	(1.8)
U.S. [Member]
Income Taxes [Abstract]
Change in deferred tax asset valuation allowances						8.4
Foreign Jurisdiction [Member]
Income Taxes [Abstract]
Change in deferred tax asset valuation allowances						(1.3)	(1)	(2.8)
Other Tax Jurisdictions [Member]
Income Taxes [Abstract]
Change in deferred tax asset valuation allowances						9.2	$ 4.3
Italy [Member]
Income Taxes [Abstract]
Tax benefit from recognition of tax credits						$ (1.4)
Hungarian Development Tax Credit [Member]
Income Taxes [Abstract]
Tax (benefit) from foreign development tax credit								$ (9)

Income Taxes, Deferred Tax Asse

Income Taxes, Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Millions	Mar. 31, 2020	Mar. 31, 2019
Deferred tax assets [Abstract]
Accounts receivable	$ 0.3	$ 0.2
Inventories	4.5	3.4
Plant and equipment	4.7	1.8
Lease liabilities	15.7	0
Pension and employee benefits	45.1	32.7
Net operating and capital losses	70.2	73.5
Credit carryforwards	56.8	60.3
Other, principally accrued liabilities	8.1	10
Total gross deferred tax assets	205.4	181.9
Less: valuation allowances	(46.9)	(43.4)
Net deferred tax assets	158.5	138.5
Deferred tax liabilities [Abstract]
Plant and equipment	13.1	15.1
Lease assets	15.6	0
Goodwill	4.8	4.8
Intangible assets	26.4	28.8
Other	1.9	0.9
Total gross deferred tax liabilities	61.8	49.6
Net deferred tax asset	$ 96.7	$ 88.9

Income Taxes, Unrecognized Ta_2

Income Taxes, Unrecognized Tax Benefits (Details) - USD ($) $ in Millions	12 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Mar. 31, 2019	Mar. 31, 2018
Reconciliation of unrecognized tax benefits [Roll Forward]
Beginning balance	$ 9.7	$ 13.8	$ 13.6
Gross increases - tax positions in prior period		0.3	1.6
Gross decreases - tax positions in prior period		(1)	(0.2)
Gross increases - tax positions in current period		1.1	1.1
Settlements		(2.1)	(0.1)
Lapse of statute of limitations		(2.4)	(2.2)	$ (1.8)
Ending balance		9.7	13.8	$ 13.6
Unrecognized tax benefits that would impact effective tax rate		7.9
Lapse of statute of limitations and settlements		4.5
Unrecognized tax benefits accrued interest and penalties		$ 0.5	$ 1.1
Forecast [Member]
Reconciliation of unrecognized tax benefits [Roll Forward]
Lapse of statute of limitations and settlements	$ (0.6)

Income Taxes, Tax Years Subject

Income Taxes, Tax Years Subject to Examination, Tax Credits and Tax Carryforwards (Details) $ in Millions	12 Months Ended
	Mar. 31, 2020USD ($)
Operating Loss Carryforwards [Line Items]
Unrecognized foreign withholding taxes and deferred tax liabilities	$ 7
Federal and State [Member]
Income Taxes [Abstract]
Tax credit carryforward	$ 61.6
Federal and State [Member] | Minimum [Member]
Income Taxes [Abstract]
Tax credit carryforward, expiration date	Mar. 31, 2021
Federal and State [Member] | Maximum [Member]
Income Taxes [Abstract]
Tax credit carryforward, expiration date	Mar. 31, 2040
Germany [Member]
Income Taxes [Abstract]
Tax years subject to examination	Fiscal 2011 - Fiscal 2019
Italy [Member]
Income Taxes [Abstract]
Tax years subject to examination	Calendar 2015 - Fiscal 2019
United States [Member]
Income Taxes [Abstract]
Tax years subject to examination	Fiscal 2017 - Fiscal 2019
Foreign Tax Jurisdictions [Member]
Operating Loss Carryforwards [Line Items]
Tax loss carryforwards	$ 314.7
Tax losses subject to expiration	8.1
Tax losses not subject to expiration	$ 306.6
Foreign Tax Jurisdictions [Member] | Minimum [Member]
Operating Loss Carryforwards [Line Items]
Tax loss carryforwards, expiration date	Mar. 31, 2021
Foreign Tax Jurisdictions [Member] | Maximum [Member]
Operating Loss Carryforwards [Line Items]
Tax loss carryforwards, expiration date	Mar. 31, 2034
State and Local [Member]
Operating Loss Carryforwards [Line Items]
Tax loss carryforwards	$ 149.8
State and Local [Member] | Minimum [Member]
Operating Loss Carryforwards [Line Items]
Tax loss carryforwards, expiration date	Mar. 31, 2021
State and Local [Member] | Maximum [Member]
Operating Loss Carryforwards [Line Items]
Tax loss carryforwards, expiration date	Mar. 31, 2040

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, 2020		Dec. 31, 2019		Sep. 30, 2019		Jun. 30, 2019		Mar. 31, 2019		Dec. 31, 2018		Sep. 30, 2018		Jun. 30, 2018		Mar. 31, 2020		Mar. 31, 2019		Mar. 31, 2018
Basic Earnings Per Share [Abstract]
Net (loss) earnings attributable to Modine	$ (6.7)	[1]	$ 1.2	[1]	$ (4.7)	[1]	$ 8	[1]	$ 6.3	[2]	$ 18	[2]	$ 38.5	[2]	$ 22	[2]	$ (2.2)	[1]	$ 84.8	[2]	$ 22.2
Less: Undistributed earnings attributable to unvested shares																	0		(0.4)		(0.2)
Net (loss) earnings available to Modine shareholders																	$ (2.2)		$ 84.4		$ 22
Weighted-average shares outstanding - basic (in shares)																	50.8		50.5		49.9
Net (loss) earnings per share - basic (in dollars per share)	$ (0.13)		$ 0.02		$ (0.09)		$ 0.16		$ 0.12		$ 0.36		$ 0.76		$ 0.43		$ (0.04)		$ 1.67		$ 0.44
Diluted Earnings Per Share [Abstract]
Net (loss) earnings attributable to Modine	$ (6.7)	[1]	$ 1.2	[1]	$ (4.7)	[1]	$ 8	[1]	$ 6.3	[2]	$ 18	[2]	$ 38.5	[2]	$ 22	[2]	$ (2.2)	[1]	$ 84.8	[2]	$ 22.2
Less: Undistributed earnings attributable to unvested shares																	0		(0.2)		(0.1)
Net (loss) earnings available to Modine shareholders																	$ (2.2)		$ 84.6		$ 22.1
Weighted-average shares outstanding - basic (in shares)																	50.8		50.5		49.9
Effect of dilutive securities (in shares)																	0		0.8		1
Weighted-average shares outstanding - diluted (in shares)																	50.8		51.3		50.9
Net (loss) earnings per share - diluted (in dollars per share)	$ (0.13)		$ 0.02		$ (0.09)		$ 0.16		$ 0.12		$ 0.35		$ 0.75		$ 0.43		$ (0.04)		$ 1.65		$ 0.43
Antidilutive securities excluded from computation of earning per share [Abstract]
Potentially dilutive securities not included in computation of diluted net loss per share (in shares)																	0.3
Stock Options [Member]
Antidilutive securities excluded from computation of earning per share [Abstract]
Antidilutive securities excluded from computation of earning per share (in shares)																	1.1		0.4		0.2
Restricted Stock [Member]
Antidilutive securities excluded from computation of earning per share [Abstract]
Antidilutive securities excluded from computation of earning per share (in shares)																	0.5		0.3
[1]	During fiscal 2020, restructuring expenses totaled $1.8 million, $2.3 million, $2.6 million, and $5.5 million for the quarters ended June 30, 2019, September 30, 2019, December 31, 2019, and March 31, 2020, respectively (see Note 5).  During the third quarter of fiscal 2020, the Company sold a previously-closed manufacturing facility in Germany and, as a result, recorded a gain of $0.8 million (see Note 1).  During the fourth quarter of fiscal 2020, the Company recorded asset impairment charges totaling $8.6 million related to long-lived assets and goodwill (see Note 5 and Note 14). During fiscal 2020, costs associated with the Company’s review of strategic alternatives for the VTS segment’s automotive business totaled $8.3 million, $11.9 million, $14.0 million, and $5.0 million for the quarters ended June 30, 2019, September 30, 2019, December 31, 2019, and March 31, 2020, respectively. During fiscal 2020, the Company adjusted its valuation allowances on deferred tax assets in the U.S and in Brazil.  As a result, the Company recorded net income tax charges totaling $3.0 million and $4.1 million in the third and fourth quarters, respectively. Also during fiscal 2020, the Company recorded a net income tax charge totaling $2.9 million, $2.7 million of which was recorded in the third quarter, as a result of legal entity restructuring completed in preparation of a potential sale of the automotive business (see Note 7).
[2]	During fiscal 2019, restructuring expenses totaled $0.2 million, $0.5 million, and $8.9 million for the quarters ended June 30, 2018, December 31, 2018, and March 31, 2019, respectively (see Note 5).  During the second quarter of fiscal 2019, the Company sold its South African business within the BHVAC segment and, as a result, recorded a loss of $1.7 million (see Note 1).  During the third quarter of fiscal 2019, the Company recorded a $0.4 million impairment charge related to a manufacturing facility in Austria (see Note 5). During the third and fourth quarter of fiscal 2019, the Company incurred $1.2 million and $5.9 million of costs associated with its review of strategic alternatives for the VTS segment’s automotive business. The Company’s income tax benefit for fiscal 2019 includes net benefits of $24.4 million and net charges of $2.2 million in the second and third quarters, respectively, related to the Tax Act and the recognition of foreign tax credits (see Note 7).  During fiscal 2019, the Company adjusted its valuation allowances on deferred tax assets related to two separate subsidiaries in China and, as a result, recorded a $2.0 million income tax benefit and a $1.0 million income tax charge in the first and second quarters, respectively (see Note 7).

Cash, Cash Equivalents and Re_3

Cash, Cash Equivalents and Restricted Cash (Details) - USD ($) $ in Millions	Mar. 31, 2020	Mar. 31, 2019	Mar. 31, 2018	Mar. 31, 2017
Cash, Cash Equivalents and Restricted Cash [Abstract]
Cash and cash equivalents	$ 70.9	$ 41.7
Restricted cash	0.4	0.5
Total cash, cash equivalents and restricted cash	$ 71.3	$ 42.2	$ 40.3	$ 34.8

Inventories (Details)

Inventories (Details) - USD ($) $ in Millions	Mar. 31, 2020	Mar. 31, 2019
Inventories [Abstract]
Raw materials	$ 123.6	$ 122.8
Work in process	34.6	32.2
Finished goods	49.2	45.7
Total inventories	$ 207.4	$ 200.7

Property, Plant and Equipment_2

Property, Plant and Equipment (Details) - USD ($) $ in Millions	12 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Mar. 31, 2018
Property, plant and equipment, including depreciable lives [Abstract]
Gross property, plant and equipment	$ 1,302.4	$ 1,304.7
Less: accumulated depreciation	(854.4)	(820)
Net property, plant and equipment	448	484.7
Depreciation expense	68.2	67.9	$ 67
Loss from disposition of property, plant and equipment	(0.6)	(0.9)	$ (0.7)
Land [Member]
Property, plant and equipment, including depreciable lives [Abstract]
Gross property, plant and equipment	19.7	20.7
Buildings and Improvements [Member]
Property, plant and equipment, including depreciable lives [Abstract]
Gross property, plant and equipment	$ 276.7	285.9
Buildings and Improvements [Member] | Minimum [Member]
Property, plant and equipment, including depreciable lives [Abstract]
Property, plant and equipment, depreciable lives	10 years
Buildings and Improvements [Member] | Maximum [Member]
Property, plant and equipment, including depreciable lives [Abstract]
Property, plant and equipment, depreciable lives	40 years
Machinery and Equipment [Member]
Property, plant and equipment, including depreciable lives [Abstract]
Gross property, plant and equipment	$ 870.3	848.7
Machinery and Equipment [Member] | Minimum [Member]
Property, plant and equipment, including depreciable lives [Abstract]
Property, plant and equipment, depreciable lives	3 years
Machinery and Equipment [Member] | Maximum [Member]
Property, plant and equipment, including depreciable lives [Abstract]
Property, plant and equipment, depreciable lives	15 years
Office Equipment [Member]
Property, plant and equipment, including depreciable lives [Abstract]
Gross property, plant and equipment	$ 95.2	92
Office Equipment [Member] | Minimum [Member]
Property, plant and equipment, including depreciable lives [Abstract]
Property, plant and equipment, depreciable lives	3 years
Office Equipment [Member] | Maximum [Member]
Property, plant and equipment, including depreciable lives [Abstract]
Property, plant and equipment, depreciable lives	10 years
Construction in Progress [Member]
Property, plant and equipment, including depreciable lives [Abstract]
Gross property, plant and equipment	$ 40.5	$ 57.4

Investment in Affiliate (Detail

Investment in Affiliate (Details) - USD ($) $ in Millions		12 Months Ended
		Mar. 31, 2020	Mar. 31, 2019	Mar. 31, 2018
Equity method investment [Abstract]
Equity in earnings of non-consolidated affiliate	[1]	$ 0.2	$ 0.7	$ 0.2
Nikkei Heat Exchanger Company, Ltd. [Member]
Equity method investment [Abstract]
Ownership percentage		50.00%
Selling price		$ 3.8
Gain (loss) on sale of business		0.1
Gain (loss) on write-off of accumulated foreign currency translation		0.6
Equity method investment			3.8
Equity in earnings of non-consolidated affiliate		$ 0.1	$ 0.7	$ 0.2
[1]	During fiscal 2020, the Company sold its ownership interest in Nikkei Heat Exchanger Company, Ltd.  As a result of the sale, the Company recorded a gain of $0.1 million, which is included within the fiscal 2020 amount.  See Note 12 for additional information.

Intangible Assets (Details)

Intangible Assets (Details) - USD ($) $ in Millions	12 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Mar. 31, 2018
Amortized intangible assets [Abstract]
Gross carrying value	$ 142.7	$ 144.3
Accumulated amortization	(36.4)	(28.1)
Net intangible assets	106.3	116.2
Amortization expense	8.9	9	$ 9.7
Estimated future amortization expense [Abstract]
Fiscal 2021	8.4
2022	8
2023	8
2024	8
2025	8
BHVAC [Member]
Estimated future amortization expense [Abstract]
Impairment charges			$ 1.2
Customer Relationships [Member]
Amortized intangible assets [Abstract]
Gross carrying value	60.8	61.5
Accumulated amortization	(12.6)	(9.1)
Net intangible assets	48.2	52.4
Trade Names [Member]
Amortized intangible assets [Abstract]
Gross carrying value	58.3	58.9
Accumulated amortization	(16.2)	(13.5)
Net intangible assets	42.1	45.4
Acquired Technology [Member]
Amortized intangible assets [Abstract]
Gross carrying value	23.6	23.9
Accumulated amortization	(7.6)	(5.5)
Net intangible assets	$ 16	$ 18.4

Goodwill (Details)

Goodwill (Details) - USD ($) $ in Millions	12 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Goodwill [Roll Forward]
Beginning balance	$ 168.5	$ 173.8
Impairment charge	(0.5)
Effect of exchange rate changes	(1.9)	(5.3)
Ending balance	166.1	168.5
VTS [Member]
Goodwill [Roll Forward]
Beginning balance	0.5	0.5
Impairment charge	(0.5)
Effect of exchange rate changes	0	0
Ending balance	0	0.5
Accumulated impairment losses	40.8	40.3
CIS [Member]
Goodwill [Roll Forward]
Beginning balance	153.9	158.3
Impairment charge	0
Effect of exchange rate changes	(1.3)	(4.4)
Ending balance	152.6	153.9
BHVAC [Member]
Goodwill [Roll Forward]
Beginning balance	14.1	15
Impairment charge	0
Effect of exchange rate changes	(0.6)	(0.9)
Ending balance	$ 13.5	$ 14.1

Product Warranties and Other _3

Product Warranties and Other Commitments (Details) - USD ($) $ in Millions	12 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Changes in accrued warranty costs [Roll Forward]
Beginning balance	$ 9.2	$ 9.3
Warranties recorded at time of sale	5.3	5.5
Adjustments to pre-existing warranties	(1.6)	2.2
Settlements	(4.8)	(7.3)
Effect of exchange rate changes	(0.2)	(0.5)
Ending balance	7.9	$ 9.2
Other Commitments [Line Items]
Capital expenditure commitments	$ 12
Minimum [Member]
Product Warranty Liability [Line Items]
Product warranty period	1 year
Other Commitments [Line Items]
Indemnification period	1 year
Maximum [Member]
Product Warranty Liability [Line Items]
Product warranty period	5 years
Other Commitments [Line Items]
Indemnification period	15 years

Leases (Details)

Leases (Details) - USD ($) $ in Millions		12 Months Ended
		Mar. 31, 2020	Mar. 31, 2019	Mar. 31, 2018
Lease Assets and Liabilities [Abstract]
Operating lease ROU assets		$ 61.4	$ 61.3
Operating lease ROU assets, Statement of Financial Position [Extensible List]		us-gaap:OtherAssetsNoncurrent
Finance lease ROU assets	[1]	$ 8.5
Finance lease ROU assets, Statement of Financial Position [Extensible List]		us-gaap:PropertyPlantAndEquipmentNet
Operating lease liabilities, current		$ 10.9	12.4
Operating lease liabilities, current, Statement of Financial Position [Extensible List]		us-gaap:OtherLiabilitiesCurrent
Operating lease liabilities, noncurrent		$ 50.3	48.9
Operating lease liabilities, noncurrent, Statement of Financial Position [Extensible List]		us-gaap:OtherLiabilitiesNoncurrent
Finance lease liabilities, current		$ 0.4
Finance lease liabilities, current, Statement of Financial Position [Extensible List]		us-gaap:LongTermDebtAndCapitalLeaseObligationsCurrent
Finance lease liabilities, noncurrent		$ 3.3
Finance lease liabilities, noncurrent, Statement of Financial Position [Extensible List]		us-gaap:LongTermDebtAndCapitalLeaseObligations
Accumulated amortization		$ 1.8
Components of Lease Expense [Abstract]
Operating lease expense	[2]	21.2
Finance lease expense [Abstract]
Depreciation of ROU assets		0.5
Interest on lease liabilities		0.2
Total lease expense		21.9
Short-term lease expense		4.1
Cash paid for amounts included in measurement of lease liabilities [Abstract]
Operating cash flows for operating leases		14.7
Financing cash flows for finance leases		0.5
ROU assets obtained in exchange for lease liabilities [Abstract]
Operating leases		9
Finance leases		$ 0.2
Weighted-average remaining lease term [Abstract]
Operating leases		9 years 3 months 18 days
Finance leases		8 years 9 months 18 days
Weighted-average discount rate [Abstract]
Operating leases		3.50%
Finance leases		4.70%
Maturity of Operating Lease Liabilities [Abstract]
2021		$ 12.8
2022		11.4
2023		9.3
2024		6.3
2025		5.8
2026 and beyond		26.2
Total lease payments		71.8
Less: Interest		(10.6)
Present value of lease liabilities		61.2
Maturities of Finance Lease Liabilities [Abstract]
2021		0.5
2022		0.5
2023		0.5
2024		0.5
2025		0.5
2026 and beyond		2
Total lease payments		4.5
Less: Interest		(0.8)
Present value of lease liabilities		$ 3.7
Future minimum rental commitments under non-cancelable operating leases [Abstract]
2020			14.2
2021			12.4
2022			9.1
2023			7.1
2024			4.7
2025 and beyond			22.9
Total future minimum rental commitments			70.4
Rental expense			$ 19.3	$ 18.5
Minimum [Member]
Significant Accounting Policy [Abstract]
Remaining lease term		1 year
Maximum [Member]
Significant Accounting Policy [Abstract]
Remaining lease term		15 years
[1]	Finance lease ROU assets were recorded net of accumulated amortization of $1.8 million as of March 31, 2020.
[2]	In fiscal 2020, operating lease expense included short-term lease expense of $4.1 million. Variable lease expense was not significant.

Indebtedness (Details)

Indebtedness (Details) $ in Millions		3 Months Ended									12 Months Ended
		Mar. 31, 2022	Dec. 31, 2021	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020USD ($)	Mar. 31, 2020USD ($)	Jan. 31, 2020USD ($)	Mar. 31, 2019USD ($)
Long-term Debt and Capital Lease Obligations [Abstract]
Debt										$ 472.6	$ 472.6		$ 434.8
Less: current portion										(15.6)	(15.6)		(48.6)
Less: unamortized debt issuance costs										(5)	(5)		(4)
Total long-term debt										452	452		382.2
Maturities of long term debt and capital lease obligations [Abstract]
2021										15.6	15.6
2022										21.7	21.7
2023										21.7	21.7
2024										21.7	21.7
2025										273.6	273.6
2026 & beyond										118.3	118.3
Total debt										472.6	472.6		434.8
Short-term debt										$ 14.8	14.8		18.9
Leverage ratio covenant limit										3.25
Forecast [Member]
Maturities of long term debt and capital lease obligations [Abstract]
Leverage ratio covenant limit		3.25	3.50	3.75	4.75	5.75	5.25	4.75	4
Term Loans [Member]
Long-term Debt and Capital Lease Obligations [Abstract]
Debt										$ 189.4	$ 189.4		238.4
Fiscal year of maturity											Mar. 31, 2025
Maturities of long term debt and capital lease obligations [Abstract]
Total debt										$ 189.4	$ 189.4		238.4
Term Loans [Member] | Weighted Average [Member]
Credit Facility [Abstract]
Weighted-average interest rate										2.80%	2.80%
Revolving Credit Facility [Member]
Long-term Debt and Capital Lease Obligations [Abstract]
Debt										$ 127.2	$ 127.2		47.1
Fiscal year of maturity											Mar. 31, 2025
Maturities of long term debt and capital lease obligations [Abstract]
Total debt										$ 127.2	$ 127.2		47.1
Revolving Credit Facility [Member] | Weighted Average [Member]
Credit Facility [Abstract]
Weighted-average interest rate										3.00%	3.00%
Multi Currency Revolving Credit Facility [Member]
Credit Facility [Abstract]
Maximum borrowing capacity										$ 250	$ 250
Expiration date											Jun. 30, 2024
Deferred debt issuance costs										1.1	$ 1.1
Domestic Revolving Credit Facility [Member]
Credit Facility [Abstract]
Letters of credit outstanding										5.3	5.3
Available for future borrowings										117.5	117.5
Foreign Credit Agreements [Member]
Maturities of long term debt and capital lease obligations [Abstract]
Short-term debt										14.8	14.8		18.9
Senior Notes [Member]
Maturities of long term debt and capital lease obligations [Abstract]
Long-term debt, fair value										131.3	131.3		137.2
5.9% Senior Notes [Member]
Credit Facility [Abstract]
Deferred debt issuance costs										$ 1.7	$ 1.7
Debt instrument, face amount												$ 100
Long-term Debt and Capital Lease Obligations [Abstract]
Interest rate percentage										5.90%	5.90%
Debt										$ 100	$ 100		0
Fiscal year of maturity											Mar. 31, 2029
Maturities of long term debt and capital lease obligations [Abstract]
Total debt										$ 100	$ 100		0
5.8% Senior Notes [Member]
Long-term Debt and Capital Lease Obligations [Abstract]
Interest rate percentage										5.80%	5.80%
Debt										$ 50	$ 50		50
Fiscal year of maturity											Mar. 31, 2027
Maturities of long term debt and capital lease obligations [Abstract]
Total debt										$ 50	$ 50		50
6.8% Senior Notes [Member]
Long-term Debt and Capital Lease Obligations [Abstract]
Interest rate percentage										6.80%	6.80%
Debt										$ 0	$ 0		85
Fiscal year of maturity											Mar. 31, 2021
Maturities of long term debt and capital lease obligations [Abstract]
Total debt										0	$ 0		85
Other [Member]
Long-term Debt and Capital Lease Obligations [Abstract]
Debt	[1]									6	6		14.3
Maturities of long term debt and capital lease obligations [Abstract]
Total debt	[1]									$ 6	$ 6		$ 14.3
[1]	Other long-term debt primarily includes borrowings by foreign subsidiaries and finance lease obligations.

Pension and Employee Benefit _3

Pension and Employee Benefit Plans, Defined Contribution Employee Benefit Plans (Details) - USD ($) $ in Millions	12 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Mar. 31, 2018
Defined Benefit Plan Disclosure [Line Items]
Defined contribution plan cost recognized	$ 6.6	$ 6.4	$ 5.2
Maximum [Member]
Defined Benefit Plan Disclosure [Line Items]
Company match	4.50%

Pension and Employee Benefit _4

Pension and Employee Benefit Plans, Defined Benefit Employee Benefit Plans (Details) - USD ($) $ in Millions		12 Months Ended
		Mar. 31, 2020	Mar. 31, 2019	Mar. 31, 2018
Defined benefit plan, plan assets [Abstract]
Net periodic benefit cost (income)	[1]	$ 3	$ 2.9	$ 3.3
Pension Plans [Member]
Defined benefit plan, plan assets [Abstract]
Employer contributions		5.8	13.9
Net periodic benefit cost (income)		3.7	3.6	4.1
Pension Plans [Member] | U.S. Plans [Member]
Defined benefit plan, plan assets [Abstract]
Employer contributions		3.5	8	13.4
Pension Plans [Member] | Non-U.S Plans [Member]
Defined benefit plan, plan assets [Abstract]
Employer contributions		2.3	5.9	2.6
Postretirement Plans [Member]
Defined benefit plan, plan assets [Abstract]
Net periodic benefit cost (income)		$ (0.3)	$ (0.3)	$ (0.2)
[1]	Net periodic benefit cost for the Company’s pension and postretirement plans is exclusive of service cost.

Pension and Employee Benefit _5

Pension and Employee Benefit Plans, Changes in Benefit Obligations, Plan Assets and Funded Status (Details) - Pension Plans [Member] - USD ($) $ in Millions		12 Months Ended
		Mar. 31, 2020	Mar. 31, 2019	Mar. 31, 2018
Change in benefit obligation [Roll Forward]
Benefit obligation at beginning of year		$ 258.8	$ 273.6
Service cost		0.4	0.5	$ 0.5
Interest cost		9.1	9.6	9.9
Actuarial loss		15.5	1.7
Benefits paid		(18.2)	(22.8)
Curtailment gain	[1]	(0.3)	0
Effect of exchange rate changes		(0.6)	(3.8)
Benefit obligation at end of year		264.7	258.8	273.6
Change in plan assets [Roll Forward]
Fair value of plan assets at beginning of year		155.1	157.7
Actual return on plan assets		(11.6)	6.3
Benefits paid		(18.2)	(22.8)
Employer contributions		5.8	13.9
Fair value of plan assets at end of year		131.1	155.1	157.7
Funded status at end of year		(133.6)	(103.7)
Amounts recognized in the consolidated balance sheets [Abstract]
Current liability		(2.7)	(2)
Noncurrent liability		(130.9)	(101.7)
Total liability		(133.6)	(103.7)
Pension plans with accumulated benefit obligations in excess of plan assets [Abstract]
Accumulated benefit obligation		263.1	256.9
Amounts recognized in accumulated other comprehensive loss [Abstract]
Net actuarial loss (gain)		191.5	159.1
Non-U.S Plans [Member]
Change in benefit obligation [Roll Forward]
Benefit obligation at beginning of year		36.5	43.4
Benefit obligation at end of year		35.7	36.5	43.4
Change in plan assets [Roll Forward]
Benefits paid		(2.2)	(5.9)
Employer contributions		2.3	5.9	$ 2.6
Increase (decrease) in benefit obligation		(0.8)	(6.9)
Service and interest cost		$ 0.9	$ 1.1
[1]	The $0.3 million curtailment gain, which is associated with headcount reductions in Europe within the VTS segment, will be recognized as a component of net periodic benefit cost following the completion of the headcount reductions. See Note 5 for additional information on the Company’s restructuring activities.

Pension and Employee Benefit _6

Pension and Employee Benefit Plans, Cost Components of Pension Plans (Details) - USD ($) $ in Millions		12 Months Ended
		Mar. 31, 2020	Mar. 31, 2019	Mar. 31, 2018
Components of net periodic benefit cost [Abstract]
Net periodic benefit cost	[1]	$ 3	$ 2.9	$ 3.3
Other changes in benefit obligation recognized in other comprehensive income (loss) [Abstract]
Amortization of net actuarial loss	[2]	5.8	5.4
Pension Plans [Member]
Components of net periodic benefit cost [Abstract]
Service cost		0.4	0.5	0.5
Interest cost		9.1	9.6	9.9
Expected return on plan assets		(12)	(12.3)	(11.9)
Amortization of net actuarial loss		6	5.6	5.6
Settlements	[3]	0.2	0.2	0.3
Curtailment gain	[3]	0	0	(0.3)
Net periodic benefit cost		3.7	3.6	4.1
Other changes in benefit obligation recognized in other comprehensive income (loss) [Abstract]
Net actuarial loss		(38.7)	(7.7)	(5.8)
Amortization of net actuarial loss		6.2	5.8	5.9
Total recognized in other comprehensive income (loss)		(32.5)	(1.9)	0.1
Reversal of amortization items [Abstract]
Estimated net actuarial loss that will be amortized		(6.9)
Pension Plans [Member] | Non-U.S Plans [Member] | Maximum [Member]
Components of net periodic benefit cost [Abstract]
Amortization of net actuarial loss		1	$ 1	$ 1
Reversal of amortization items [Abstract]
Estimated amortization in next fiscal year		$ 1
[1]	Net periodic benefit cost for the Company’s pension and postretirement plans is exclusive of service cost.
[2]	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 18 for additional information about the Company’s pension plans.
[3]	The settlement charges and curtailment gain resulted from activity associated with the Company’s non-U.S. pension plans.

Pension and Employee Benefit _7

Pension and Employee Benefit Plans, Valuation Assumptions (Details) - Pension Plans [Member]	12 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Mar. 31, 2018
U.S. Plans [Member]
Weighted-average assumptions used in calculating benefit obligation [Abstract]
Discount rate - benefit obligations	3.40%	4.00%
Weighted-average assumptions used in calculating plan cost [Abstract]
Weighted average discount rate - costs	4.00%	4.00%	4.10%
Non-U.S Plans [Member]
Weighted-average assumptions used in calculating benefit obligation [Abstract]
Discount rate - benefit obligations	1.00%	1.40%
Weighted-average assumptions used in calculating plan cost [Abstract]
Weighted average discount rate - costs	1.70%	1.90%	1.90%

Pension and Employee Benefit _8

Pension and Employee Benefit Plans, Weighted-average Asset Allocations (Details) - Pension Plans [Member] - USD ($) $ in Millions	12 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Mar. 31, 2019	Mar. 31, 2018
Defined Benefit Plan, Information about Plan Assets [Abstract]
Target allocation		100.00%
Plan assets		100.00%	100.00%
Anticipated contributions next fiscal year		$ 20
Equity Securities [Member]
Defined Benefit Plan, Information about Plan Assets [Abstract]
Target allocation		65.00%
Plan assets		60.00%	66.00%
Debt Securities [Member]
Defined Benefit Plan, Information about Plan Assets [Abstract]
Target allocation		21.00%
Plan assets		22.00%	19.00%
Real Estate Investments [Member]
Defined Benefit Plan, Information about Plan Assets [Abstract]
Target allocation		13.00%
Plan assets		16.00%	12.00%
Cash and Cash Equivalents [Member]
Defined Benefit Plan, Information about Plan Assets [Abstract]
Target allocation		1.00%
Plan assets		2.00%	3.00%
U.S. Plans [Member]
Defined Benefit Plan, Information about Plan Assets [Abstract]
Expected return on plan assets		7.50%	7.50%	7.50%
U.S. Plans [Member] | Forecast [Member]
Defined Benefit Plan, Information about Plan Assets [Abstract]
Expected return on plan assets	7.50%

Pension and Employee Benefit _9

Pension and Employee Benefit Plans, Estimated Pension Benefit Payments (Details) - Pension Plans [Member] $ in Millions	Mar. 31, 2020USD ($)
Estimated future benefit payments [Abstract]
2021	$ 17.2
2022	16.8
2023	16.7
2024	16.7
2025	16.8
2026-2030	$ 80.6

Derivative Instruments, Balance

Derivative Instruments, Balance Sheet (Details) - USD ($) $ in Millions	Mar. 31, 2020	Mar. 31, 2019
Commodity Derivatives [Member] | Derivatives Designated as Hedges [Member] | Other Current Assets [Member]
Derivative instruments [Abstract]
Derivative asset, fair value, net	$ 0	$ 0.6
Commodity Derivatives [Member] | Derivatives Designated as Hedges [Member] | Other Current Liabilities [Member]
Derivative instruments [Abstract]
Derivative liability, fair value, net	1.3	0.3
Foreign Exchange Contracts [Member] | Derivatives Designated as Hedges [Member] | Other Current Assets [Member]
Derivative instruments [Abstract]
Derivative asset, fair value, net	0.1	0.2
Foreign Exchange Contracts [Member] | Derivatives not Designated as Hedges [Member] | Other Current Liabilities [Member]
Derivative instruments [Abstract]
Derivative liability, fair value, net	$ 0	$ 0.5

Derivative Instruments, (Gain)

Derivative Instruments, (Gain) Loss by Hedging Relationship, by CI and Income Statement (Details) - USD ($) $ in Millions		12 Months Ended
		Mar. 31, 2020	Mar. 31, 2019	Mar. 31, 2018
Derivative Instruments, (Gain) Loss [Line Items]
Gain (loss) reclassified from AOCI	[1]	$ (0.5)	$ (0.2)
Designated [Member]
Derivative Instruments, (Gain) Loss [Line Items]
Gain (loss) reclassified from AOCI		(0.5)	(0.2)	$ 0.1
Non-Designated Derivative [Member]
Derivative Instruments, (Gain) Loss [Line Items]
Total gains (losses)		(0.2)	(1)	(0.2)
Other Comprehensive Income [Member] | Designated [Member]
Derivative Instruments, (Gain) Loss [Line Items]
Total gains (losses)		(2.5)	0.3	0.3
Commodity Derivatives [Member] | Cost of Sales [Member] | Designated [Member]
Derivative Instruments, (Gain) Loss [Line Items]
Gain (loss) reclassified from AOCI		(0.8)	(0.4)	0
Commodity Derivatives [Member] | Cost of Sales [Member] | Non-Designated Derivative [Member]
Derivative Instruments, (Gain) Loss [Line Items]
Total gains (losses)		0	0	0.4
Commodity Derivatives [Member] | Cost of Sales [Member] | Other Comprehensive Income [Member] | Designated [Member]
Derivative Instruments, (Gain) Loss [Line Items]
Total gains (losses)		(2.6)	(0.3)	0.2
Foreign Exchange Contracts [Member] | Cost of Sales [Member] | Designated [Member]
Derivative Instruments, (Gain) Loss [Line Items]
Gain (loss) reclassified from AOCI		0.4	0.6	0
Foreign Exchange Contracts [Member] | Cost of Sales [Member] | Other Comprehensive Income [Member] | Designated [Member]
Derivative Instruments, (Gain) Loss [Line Items]
Total gains (losses)		0.2	1	0
Foreign Exchange Contracts [Member] | Net Sales [Member] | Designated [Member]
Derivative Instruments, (Gain) Loss [Line Items]
Gain (loss) reclassified from AOCI		(0.1)	(0.4)	0.1
Foreign Exchange Contracts [Member] | Net Sales [Member] | Non-Designated Derivative [Member]
Derivative Instruments, (Gain) Loss [Line Items]
Total gains (losses)		(0.1)	(0.7)	(0.1)
Foreign Exchange Contracts [Member] | Net Sales [Member] | Other Comprehensive Income [Member] | Designated [Member]
Derivative Instruments, (Gain) Loss [Line Items]
Total gains (losses)		(0.1)	(0.4)	0.1
Foreign Exchange Contracts [Member] | Other Income (Expense) - Net [Member] | Non-Designated Derivative [Member]
Derivative Instruments, (Gain) Loss [Line Items]
Total gains (losses)		$ (0.1)	$ (0.3)	$ (0.5)
[1]	Amounts represent net gains and losses associated with cash flow hedges that were reclassified to net earnings.  See Note 19 for additional information regarding derivative instruments.

Risks, Uncertainties, Conting_2

Risks, Uncertainties, Contingencies and Litigation (Details) $ in Millions	12 Months Ended
	Mar. 31, 2020USD ($)Customer	Mar. 31, 2019USD ($)Customer	Mar. 31, 2018Customer
Environmental loss contingencies [Abstract]
Reserves for environmental matters | $	$ 18.2	$ 18.9
Sales [Member] | Customer Concentration Risk [Member]
Credit Risk [Abstract]
Concentration risk, percentage	45.00%	50.00%	48.00%
Accounts Receivable [Member] | Credit Concentration Risk [Member]
Credit Risk [Abstract]
Concentration risk, percentage	34.00%	38.00%
Number of top customers	10
VTS [Member]
Credit Risk [Abstract]
Number of major customers	1	2	2

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Millions		12 Months Ended
		Mar. 31, 2020		Mar. 31, 2019
Other comprehensive loss [Abstract]
Beginning balance		$ 533.9
Other comprehensive income (loss) before reclassifications		(59.4)		$ (44.7)
Reclassifications for amortization of unrecognized net loss	[1]	5.8		5.4
Reclassifications for realized losses - net	[2]	0.5		0.2
Reclassifications for foreign currency translation (gains) losses		(0.6)	[3]	0.8	[4]
Income taxes		8.8		0.2
Total other comprehensive income (loss)		(44.9)		(38.1)
Ending balance		487.9		533.9
Nikkei Heat Exchanger Company, Ltd [Member]
Other comprehensive loss [Abstract]
Gain (loss) on write-off of accumulated foreign currency translation		0.6
AIAC Air Conditioning South Africa Pty Ltd [Member]
Other comprehensive loss [Abstract]
Gain (loss) on write-off of accumulated foreign currency translation				(0.8)
Accumulated Other Comprehensive Loss [Member]
Other comprehensive loss [Abstract]
Beginning balance		(178.4)		(140.3)
Ending balance		(223.3)		(178.4)
Foreign Currency Translation [Member]
Other comprehensive loss [Abstract]
Beginning balance		(42.6)		(5.5)
Other comprehensive income (loss) before reclassifications		(18.2)		(37.9)
Reclassifications for amortization of unrecognized net loss	[1]	0		0
Reclassifications for realized losses - net	[2]	0		0
Reclassifications for foreign currency translation (gains) losses		(0.6)	[3]	0.8	[4]
Income taxes		0		0
Total other comprehensive income (loss)		(18.8)		(37.1)
Ending balance		(61.4)		(42.6)
Defined Benefit Plans [Member]
Other comprehensive loss [Abstract]
Beginning balance		(136.3)		(134.9)
Other comprehensive income (loss) before reclassifications		(38.7)		(7.1)
Reclassifications for amortization of unrecognized net loss	[1]	5.8		5.4
Reclassifications for realized losses - net	[2]	0		0
Reclassifications for foreign currency translation (gains) losses		0	[3]	0	[4]
Income taxes		8.3		0.3
Total other comprehensive income (loss)		(24.6)		(1.4)
Ending balance		(160.9)		(136.3)
Cash Flow Hedges [Member]
Other comprehensive loss [Abstract]
Beginning balance		0.5		0.1
Other comprehensive income (loss) before reclassifications		(2.5)		0.3
Reclassifications for amortization of unrecognized net loss	[1]	0		0
Reclassifications for realized losses - net	[2]	0.5		0.2
Reclassifications for foreign currency translation (gains) losses		0	[3]	0	[4]
Income taxes		0.5		(0.1)
Total other comprehensive income (loss)		(1.5)		0.4
Ending balance		$ (1)		$ 0.5
[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 18 for additional information about the Company’s pension plans.
[2]	Amounts represent net gains and losses associated with cash flow hedges that were reclassified to net earnings.  See Note 19 for additional information regarding derivative instruments.
[3]	As a result of the sale of its investment in NEX during fiscal 2020, the Company wrote off $0.6 million of accumulated foreign currency translation gains.
[4]	As a result of the sale of a business in South Africa during fiscal 2019, the Company wrote off $0.8 million of accumulated foreign currency translation losses.

Segment and Geographic Inform_3

Segment and Geographic Information, Net Sales, Gross Profit, and Operating Income by Segment (Details) - USD ($) $ in Millions		3 Months Ended								12 Months Ended
		Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2020	Mar. 31, 2019	Mar. 31, 2018
Net sales, gross profit, operating income and total assets by segment [Abstract]
Net sales		$ 472.9	$ 473.4	$ 500.2	$ 529	$ 556.7	$ 541	$ 548.9	$ 566.1	$ 1,975.5	$ 2,212.7	$ 2,103.1
Gross profit		$ 74.9	$ 73.5	$ 75.7	$ 83.4	$ 91.6	$ 91.7	$ 87.9	$ 94.3	$ 307.5	$ 365.5	$ 356.5
Gross profit (% of sales)										15.60%	16.50%	17.00%
Operating income										$ 37.9	$ 109.7	$ 92.2
VTS [Member]
Net sales, gross profit, operating income and total assets by segment [Abstract]
Net sales										1,177.2	1,351.7	1,295.7
Strategic review alternatives cost										39.2	7.1
CIS [Member]
Net sales, gross profit, operating income and total assets by segment [Abstract]
Net sales										623.9	707.6	675.7
BHVAC [Member]
Net sales, gross profit, operating income and total assets by segment [Abstract]
Net sales										221.1	212.4	191.2
Total Segments [Member]
Net sales, gross profit, operating income and total assets by segment [Abstract]
Net sales										2,022.2	2,271.7	2,162.6
Operating Segments [Member]
Net sales, gross profit, operating income and total assets by segment [Abstract]
Net sales										1,975.5	2,212.7	2,103.1
Gross profit										$ 309.3	$ 365.2	$ 356.8
Gross profit (% of sales)										15.30%	16.10%	16.50%
Operating income										$ 96.9	$ 145.1	$ 133
Operating Segments [Member] | VTS [Member]
Net sales, gross profit, operating income and total assets by segment [Abstract]
Net sales										1,136	1,298.9	1,239.3
Gross profit										$ 144.9	$ 186.9	$ 201
Gross profit (% of sales)										12.30%	13.80%	15.50%
Operating income										$ 27.6	$ 64.8	$ 84.2
Operating Segments [Member] | CIS [Member]
Net sales, gross profit, operating income and total assets by segment [Abstract]
Net sales										620.1	704.7	674.4
Gross profit										$ 92.9	$ 114.9	$ 97.8
Gross profit (% of sales)										14.90%	16.20%	14.50%
Operating income										$ 32.9	$ 53.4	$ 28.5
Operating Segments [Member] | BHVAC [Member]
Net sales, gross profit, operating income and total assets by segment [Abstract]
Net sales										219.4	209.1	189.4
Gross profit										$ 71.5	$ 63.4	$ 58
Gross profit (% of sales)										32.30%	29.90%	30.30%
Operating income										$ 36.4	$ 26.9	$ 20.3
Corporate and Eliminations [Member]
Net sales, gross profit, operating income and total assets by segment [Abstract]
Net sales										(46.7)	(59)	(59.5)
Gross profit										$ (1.8)	$ 0.3	$ (0.3)
Gross profit (% of sales)										0.00%	0.00%	0.00%
Operating income	[1]									$ (59)	$ (35.4)	$ (40.8)
Inter-segment Sales [Member]
Net sales, gross profit, operating income and total assets by segment [Abstract]
Net sales										46.7	59	59.5
Inter-segment Sales [Member] | VTS [Member]
Net sales, gross profit, operating income and total assets by segment [Abstract]
Net sales										41.2	52.8	56.4
Inter-segment Sales [Member] | CIS [Member]
Net sales, gross profit, operating income and total assets by segment [Abstract]
Net sales										3.8	2.9	1.3
Inter-segment Sales [Member] | BHVAC [Member]
Net sales, gross profit, operating income and total assets by segment [Abstract]
Net sales										$ 1.7	$ 3.3	$ 1.8
[1]	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. During fiscal 2020 and 2019, the Company recorded $39.2 million and $7.1 million, respectively, of costs directly associated with its review of strategic alternatives for the VTS segment’s automotive business, including costs to separate and prepare the business for potential sale.

Segment and Geographic Inform_4

Segment and Geographic Information, Total Assets by Segment (Details) - USD ($) $ in Millions	Mar. 31, 2020	Mar. 31, 2019
Segment Reporting Information [Abstract]
Total assets	$ 1,536.1	$ 1,538
Operating Segments [Member] | VTS [Member]
Segment Reporting Information [Abstract]
Total assets	683.9	749.9
Operating Segments [Member] | CIS [Member]
Segment Reporting Information [Abstract]
Total assets	617.7	604.2
Operating Segments [Member] | BHVAC [Member]
Segment Reporting Information [Abstract]
Total assets	102.3	89.4
Corporate and Eliminations [Member]
Segment Reporting Information [Abstract]
Total assets	$ 132.2	$ 94.5

Segment and Geographic Inform_5

Segment and Geographic Information, Capital Expenditures and Depreciation and Amortization Expense by Segment (Details) - USD ($) $ in Millions	12 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Mar. 31, 2018
Segment Reporting Information [Abstract]
Total capital expenditures	$ 71.3	$ 73.9	$ 71
Total depreciation and amortization expense	77.1	76.9	76.7
Operating Segments [Member] | VTS [Member]
Segment Reporting Information [Abstract]
Total capital expenditures	53.2	56.2	61.4
Total depreciation and amortization expense	49.7	49.5	48.2
Operating Segments [Member] | CIS [Member]
Segment Reporting Information [Abstract]
Total capital expenditures	15	16.4	9
Total depreciation and amortization expense	24	23.9	24.3
Operating Segments [Member] | BHVAC [Member]
Segment Reporting Information [Abstract]
Total capital expenditures	3.1	1.3	0.6
Total depreciation and amortization expense	$ 3.4	$ 3.5	$ 4.2

Segment and Geographic Inform_6

Segment and Geographic Information, Net Sales by Geographical Area (Details) - USD ($) $ in Millions	3 Months Ended								12 Months Ended
	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2020	Mar. 31, 2019	Mar. 31, 2018
Segment Reporting Information [Abstract]
Net sales	$ 472.9	$ 473.4	$ 500.2	$ 529	$ 556.7	$ 541	$ 548.9	$ 566.1	$ 1,975.5	$ 2,212.7	$ 2,103.1
Reportable Geographical Components [Member] | United States [Member]
Segment Reporting Information [Abstract]
Net sales									941.9	1,032.3	911.4
Reportable Geographical Components [Member] | Italy [Member]
Segment Reporting Information [Abstract]
Net sales									187.4	217.3	211.5
Reportable Geographical Components [Member] | China [Member]
Segment Reporting Information [Abstract]
Net sales									168.5	172.1	156
Reportable Geographical Components [Member] | Hungary [Member]
Segment Reporting Information [Abstract]
Net sales									142.4	165.6	153.9
Reportable Geographical Components [Member] | Germany [Member]
Segment Reporting Information [Abstract]
Net sales									97.5	123.1	132.6
Reportable Geographical Components [Member] | Austria [Member]
Segment Reporting Information [Abstract]
Net sales									93	116.2	151.7
Reportable Geographical Components [Member] | Other [Member]
Segment Reporting Information [Abstract]
Net sales									$ 344.8	$ 386.1	$ 386

Segment and Geographic Inform_7

Segment and Geographic Information, Property, Plant and Equipment by Geographical Area (Details) - USD ($) $ in Millions	Mar. 31, 2020	Mar. 31, 2019
Segment Reporting Information, Additional Information [Abstract]
Total property, plant and equipment	$ 448	$ 484.7
Reportable Geographical Components [Member] | United States [Member]
Segment Reporting Information, Additional Information [Abstract]
Total property, plant and equipment	114.6	117.7
Reportable Geographical Components [Member] | China [Member]
Segment Reporting Information, Additional Information [Abstract]
Total property, plant and equipment	56.8	57.6
Reportable Geographical Components [Member] | Hungary [Member]
Segment Reporting Information, Additional Information [Abstract]
Total property, plant and equipment	55.4	55.3
Reportable Geographical Components [Member] | Mexico [Member]
Segment Reporting Information, Additional Information [Abstract]
Total property, plant and equipment	50	56.3
Reportable Geographical Components [Member] | Italy [Member]
Segment Reporting Information, Additional Information [Abstract]
Total property, plant and equipment	49.8	52.4
Reportable Geographical Components [Member] | Germany [Member]
Segment Reporting Information, Additional Information [Abstract]
Total property, plant and equipment	27	32.8
Reportable Geographical Components [Member] | Austria [Member]
Segment Reporting Information, Additional Information [Abstract]
Total property, plant and equipment	26	36.9
Reportable Geographical Components [Member] | Other [Member]
Segment Reporting Information, Additional Information [Abstract]
Total property, plant and equipment	$ 68.4	$ 75.7

Segment and Geographic Inform_8

Segment and Geographic Information, Net sales by End Market (Details) - USD ($) $ in Millions	3 Months Ended								12 Months Ended
	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2020	Mar. 31, 2019	Mar. 31, 2018
Segment Reporting Information [Abstract]
Net sales	$ 472.9	$ 473.4	$ 500.2	$ 529	$ 556.7	$ 541	$ 548.9	$ 566.1	$ 1,975.5	$ 2,212.7	$ 2,103.1
Commercial HVAC&R [Member]
Segment Reporting Information [Abstract]
Net sales									639.7	674	648.3
Automotive [Member]
Segment Reporting Information [Abstract]
Net sales									508.8	542.8	526
Commercial Vehicle [Member]
Segment Reporting Information [Abstract]
Net sales									323.7	387.6	381.7
Off-Highway [Member]
Segment Reporting Information [Abstract]
Net sales									253.9	314.1	271.2
Data Center Cooling [Member]
Segment Reporting Information [Abstract]
Net sales									150.2	187	137.6
Industrial Cooling [Member]
Segment Reporting Information [Abstract]
Net sales									43.5	47.8	67.6
Other [Member]
Segment Reporting Information [Abstract]
Net sales									$ 55.7	$ 59.4	$ 70.7

Quarterly Financial Data (Una_3

Quarterly Financial Data (Unaudited) (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended																12 Months Ended
	Mar. 31, 2020		Dec. 31, 2019		Sep. 30, 2019		Jun. 30, 2019		Mar. 31, 2019		Dec. 31, 2018		Sep. 30, 2018		Jun. 30, 2018		Mar. 31, 2020		Mar. 31, 2019		Mar. 31, 2018
Quarterly Financial Data [Abstract]
Net sales	$ 472.9		$ 473.4		$ 500.2		$ 529		$ 556.7		$ 541		$ 548.9		$ 566.1		$ 1,975.5		$ 2,212.7		$ 2,103.1
Gross profit	74.9		73.5		75.7		83.4		91.6		91.7		87.9		94.3		307.5		365.5		356.5
Net earnings (loss)	(6.4)	[1]	1	[1]	(4.8)	[1]	8.2	[1]	6.4	[2]	18.3	[2]	38.7	[2]	22.5	[2]	(2)	[1]	85.9	[2]
Net earnings (loss) attributable to Modine	$ (6.7)	[1]	$ 1.2	[1]	$ (4.7)	[1]	$ 8	[1]	$ 6.3	[2]	$ 18	[2]	$ 38.5	[2]	$ 22	[2]	$ (2.2)	[1]	$ 84.8	[2]	$ 22.2
Net earnings (loss) per share attributable to Modine shareholders [Abstract]
Basic (in dollars per share)	$ (0.13)		$ 0.02		$ (0.09)		$ 0.16		$ 0.12		$ 0.36		$ 0.76		$ 0.43		$ (0.04)		$ 1.67		$ 0.44
Diluted (in dollars per share)	$ (0.13)		$ 0.02		$ (0.09)		$ 0.16		$ 0.12		$ 0.35		$ 0.75		$ 0.43		$ (0.04)		$ 1.65		$ 0.43
Restructuring expenses	$ 5.5		$ 2.6		$ 2.3		$ 1.8		$ 8.9		$ 0.5				$ 0.2		$ 12.2		$ 9.6		$ 16
Gain (loss) on sale of assets																	0.8		(1.7)		0
Income tax expense related to legal entity restructuring			2.7														2.9
Impairment charges	8.6										0.4						8.6		0.4		2.5
Income tax expense (benefit) related to US Tax Reform											2.2		$ (24.4)						(7.7)
Change in deferred tax asset valuation allowances	4.1		3										1		$ (2)
AIAC Air Conditioning South Africa (Pty) Ltd [Member]
Net earnings (loss) per share attributable to Modine shareholders [Abstract]
Gain (loss) on sale of assets													$ (1.7)
VTS [Member]
Quarterly Financial Data [Abstract]
Net sales																	1,177.2		$ 1,351.7		$ 1,295.7
Net earnings (loss) per share attributable to Modine shareholders [Abstract]
Gain (loss) on sale of assets			0.8														0.8
Impairment charges																	$ 7.5
Costs associated with review of strategic alternatives	$ 5		$ 14		$ 11.9		$ 8.3		$ 5.9		$ 1.2
[1]	During fiscal 2020, restructuring expenses totaled $1.8 million, $2.3 million, $2.6 million, and $5.5 million for the quarters ended June 30, 2019, September 30, 2019, December 31, 2019, and March 31, 2020, respectively (see Note 5).  During the third quarter of fiscal 2020, the Company sold a previously-closed manufacturing facility in Germany and, as a result, recorded a gain of $0.8 million (see Note 1).  During the fourth quarter of fiscal 2020, the Company recorded asset impairment charges totaling $8.6 million related to long-lived assets and goodwill (see Note 5 and Note 14). During fiscal 2020, costs associated with the Company’s review of strategic alternatives for the VTS segment’s automotive business totaled $8.3 million, $11.9 million, $14.0 million, and $5.0 million for the quarters ended June 30, 2019, September 30, 2019, December 31, 2019, and March 31, 2020, respectively. During fiscal 2020, the Company adjusted its valuation allowances on deferred tax assets in the U.S and in Brazil.  As a result, the Company recorded net income tax charges totaling $3.0 million and $4.1 million in the third and fourth quarters, respectively. Also during fiscal 2020, the Company recorded a net income tax charge totaling $2.9 million, $2.7 million of which was recorded in the third quarter, as a result of legal entity restructuring completed in preparation of a potential sale of the automotive business (see Note 7).
[2]	During fiscal 2019, restructuring expenses totaled $0.2 million, $0.5 million, and $8.9 million for the quarters ended June 30, 2018, December 31, 2018, and March 31, 2019, respectively (see Note 5).  During the second quarter of fiscal 2019, the Company sold its South African business within the BHVAC segment and, as a result, recorded a loss of $1.7 million (see Note 1).  During the third quarter of fiscal 2019, the Company recorded a $0.4 million impairment charge related to a manufacturing facility in Austria (see Note 5). During the third and fourth quarter of fiscal 2019, the Company incurred $1.2 million and $5.9 million of costs associated with its review of strategic alternatives for the VTS segment’s automotive business. The Company’s income tax benefit for fiscal 2019 includes net benefits of $24.4 million and net charges of $2.2 million in the second and third quarters, respectively, related to the Tax Act and the recognition of foreign tax credits (see Note 7).  During fiscal 2019, the Company adjusted its valuation allowances on deferred tax assets related to two separate subsidiaries in China and, as a result, recorded a $2.0 million income tax benefit and a $1.0 million income tax charge in the first and second quarters, respectively (see Note 7).

Schedule II - Valuation and Q_2

Schedule II - Valuation and Qualifying Accounts (Details) - Valuation Allowance for Deferred Tax Assets [Member] - USD ($) $ in Millions		12 Months Ended
		Mar. 31, 2020	Mar. 31, 2019	Mar. 31, 2018
Valuation and Qualifying Accounts Disclosure [Line Items]
Balance at Beginning of Period		$ 43.4	$ 48.9	$ 49.6
Additions Charged (Benefit) to Costs and Expenses		4.5	(1.6)	(6.7)
Additions Charged to Other Accounts	[1]	(1)	(3.9)	6
Balance at End of Period		$ 46.9	$ 43.4	$ 48.9
[1]	Foreign currency translation and other adjustments.  The fiscal 2018 amounts also included increases associated with the Company’s acquisition of Luvata HTS.