v3.21.1
Consolidated Statements of Operations and Comprehensive Income - USD ($)
shares in Millions, $ in Millions
12 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Mar. 31, 2019
Income Statement [Abstract]      
Net sales $ 2,908.7 $ 2,606.8 $ 2,506.6
Cost of goods sold (1,857.0) (1,673.1) (1,675.6)
Gross profit 1,051.7 933.7 831.0
Selling, general and administrative expenses (389.6) (415.8) (403.6)
Research and development expenses (34.3) (32.8) (37.9)
Restructuring expenses (11.1) (84.4) (15.9)
Asbestos adjustments (143.9) (58.2) (22.0)
Operating income 472.8 342.5 351.6
Interest, net (47.8) (54.4) (50.1)
Loss on early debt extinguishment (13.1) 0.0 (1.0)
Other income (expense) 0.1 (0.1) 0.1
Income before income taxes 412.0 288.0 300.6
Income tax expense (149.2) (46.5) (71.8)
Net income $ 262.8 $ 241.5 $ 228.8
Income per share:      
Basic (in dollars per share) $ 0.59 $ 0.55 $ 0.52
Diluted (in dollars per share) $ 0.59 $ 0.54 $ 0.52
Weighted average common shares outstanding (Millions):      
Basic (in shares) 443.7 442.6 441.9
Diluted (in shares) 445.4 444.1 443.0
Comprehensive income, net of tax:      
Net income $ 262.8 $ 241.5 $ 228.8
Cash flow hedges 0.0 0.0 (0.1)
Pension adjustments (0.4) 0.8 0.0
Currency translation adjustments 55.9 (32.6) (28.9)
Comprehensive income $ 318.3 $ 209.7 $ 199.8

Source