Annual and transition report of foreign private issuers pursuant to Section 13 or 15(d)

Consolidated Statements of Operations and Comprehensive Income

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Consolidated Statements of Operations and Comprehensive Income - USD ($)
shares in Millions, $ in Millions
12 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Mar. 31, 2022
Income Statement [Abstract]      
Net sales $ 3,936.3 $ 3,777.1 $ 3,614.7
Cost of goods sold 2,347.9 2,465.1 2,301.2
Gross profit 1,588.4 1,312.0 1,313.5
Selling, general and administrative expenses 602.2 494.0 461.2
Research and development expenses 47.0 39.6 38.0
Asset impairment - greenfield site 20.1 0.0 0.0
Asbestos adjustments loss 151.7 37.0 131.7
Operating income 767.4 741.4 682.6
Interest, net 15.3 30.7 39.3
Other (income) expense, net (2.7) (12.8) 0.2
Income before income taxes 754.8 723.5 643.1
Income tax expense 244.6 211.5 184.0
Net income $ 510.2 $ 512.0 $ 459.1
Income per share:      
Basic (in dollars per share) $ 1.16 $ 1.15 $ 1.03
Diluted (in dollars per share) $ 1.16 $ 1.15 $ 1.03
Weighted average common shares outstanding (Millions):      
Basic (in shares) 438.4 445.1 444.9
Diluted (in shares) 439.6 445.6 445.9
Comprehensive income, net of tax:      
Net income $ 510.2 $ 512.0 $ 459.1
Pension adjustments (0.5) 2.1 (0.7)
Currency translation adjustments (14.5) (33.4) (14.7)
Comprehensive income $ 495.2 $ 480.7 $ 443.7