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

Operating Segment Information and Concentrations of Risk (Tables)

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Operating Segment Information and Concentrations of Risk (Tables)
 12 Months Ended
Mar. 31, 2024
Segment Reporting [Abstract]  
Summary of Operating Segments
The following is the Company’s operating segment information: 
 
Net Sales
Years Ended 31 March
(Millions of US dollars) 2024 2023 2022
North America Fiber Cement $ 2,891.4  $ 2,787.6  $ 2,551.3 
Asia Pacific Fiber Cement 562.8  539.2  574.9 
Europe Building Products 482.1  450.3  488.5 
Worldwide total $ 3,936.3  $ 3,777.1  $ 3,614.7 
 
Operating Income
Years Ended 31 March
(Millions of US dollars) 2024 2023 2022
North America Fiber Cement $ 921.1  $ 767.5  $ 741.2 
Asia Pacific Fiber Cement 166.1  142.8  160.8 
Europe Building Products 45.0  26.5  62.9 
Research and Development (37.0) (33.3) (34.4)
Segments total 1,095.2  903.5  930.5 
General Corporate (327.8) (162.1) (247.9)
Total operating income 767.4  741.4  682.6 
Depreciation and Amortization
Years ended 31 March
(Millions of US dollars) 2024 2023 2022
North America Fiber Cement $ 133.8  $ 126.1  $ 114.4 
Asia Pacific Fiber Cement 17.0  14.7  13.6 
Europe Building Products 29.7  28.0  29.8 
General Corporate 2.4  1.8  2.8 
Research and Development 2.1  2.0  1.2 
Total $ 185.0  $ 172.6  $ 161.8 
Research and Development Expenses
 
Years Ended 31 March
(Millions of US dollars) 2024 2023 2022
North America Fiber Cement $ 8.4  $ 5.5  $ 5.3 
Asia Pacific Fiber Cement 1.3  1.3  1.5 
Europe Building Products 3.3  1.7  0.9 
Research and Development 34.0  31.1  30.3 
$ 47.0  $ 39.6  $ 38.0 
 
Total Identifiable Assets
31 March
(Millions of US dollars) 2024 2023
North America Fiber Cement $ 1,871.8  $ 1,672.9 
Asia Pacific Fiber Cement 434.9  509.7 
Europe Building Products 846.6  781.5 
Research and Development 21.7  15.6 
Segments total 3,175.0  2,979.7 
General Corporate 1
1,737.6  1,499.4 
Worldwide total $ 4,912.6  $ 4,479.1 
Summary of Geographical Information
The following is the Company’s geographical information:
 
Net Sales
Years Ended 31 March
(Millions of US dollars) 2024 2023 2022
North America 2
$ 2,891.4  $ 2,787.6  $ 2,551.3 
Australia 403.8  380.9  391.7 
Germany 140.5  137.8  165.0 
New Zealand 87.7  88.1  115.9 
Other Countries 3
412.9  382.7  390.8 
Worldwide total $ 3,936.3  $ 3,777.1  $ 3,614.7 
     
 
Total Identifiable Assets
31 March
(Millions of US dollars)   2024 2023
North America 2
$ 1,879.7  $ 1,679.8 
Australia 334.6  398.8 
Germany 502.7  490.9 
New Zealand 29.5  41.2 
Other Countries 3
428.5  369.0 
Segments total 3,175.0  2,979.7 
General Corporate 1
1,737.6  1,499.4 
Worldwide total $ 4,912.6  $ 4,479.1 
____________
1Included in General Corporate are deferred tax assets for each operating segment that are not held directly accountable for deferred income taxes and Asbestos-related assets.
2The amounts disclosed for North America are substantially all related to the USA.
3Included are all other countries that account for less than 5% of net sales and total identifiable assets individually, primarily in the Philippines, Spain and other European countries.
Summary of Gross Sales by Major Customers The following represents net sales generated by this customer, which is from the North America Fiber Cement segment:
 
Years Ended 31 March
(Millions of US dollars) 2024 2023 2022
Customer A $ 558.2  14.2  % $ 450.1  12.0  % $ 418.3  12.0  %