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

Consolidated Statements of Operations and Comprehensive Income

v3.20.1
Consolidated Statements of Operations and Comprehensive Income
shares in Millions, $ in Millions, $ in Millions
12 Months Ended
Mar. 31, 2020
USD ($)
$ / shares
shares
Mar. 31, 2019
USD ($)
$ / shares
shares
Mar. 31, 2018
USD ($)
$ / shares
shares
Income Statement [Abstract]      
Net sales $ 2,606.8 $ 2,506.6 $ 2,054.5
Cost of goods sold (1,673.1) (1,675.6) (1,324.3)
Gross profit 933.7 831.0 730.2
Selling, general and administrative expenses (415.8) (403.6) (311.3)
Research and development expenses (32.8) (37.9) (33.3)
Asset impairments (84.4) (15.9) 0.0
Asbestos adjustments (58.2) (22.0) (156.4)
Operating income 342.5 351.6 229.2
Interest expense, net (57.5) (54.2) (32.9)
Interest income 3.1 4.1 3.4
Loss on early debt extinguishment 0.0 (1.0) (26.1)
Other (expense) income (0.1) 0.1 0.7
Income before income taxes 288.0 300.6 174.3
Income tax expense (46.5) (71.8) (28.2)
Net income $ 241.5 $ 228.8 $ 146.1
Income per share:      
Basic | $ / shares $ 0.55 $ 0.52 $ 0.33
Diluted | $ / shares $ 0.54 $ 0.52 $ 0.33
Weighted average common shares outstanding (Millions):      
Basic | shares 442.6 441.9 441.2
Diluted | shares 444.1 443.0 442.3
Comprehensive income, net of tax:      
Net income $ 241.5 $ 228.8 $ 146.1
Cash flow hedges   (0.1) 0.0
Pension adjustments 0.8    
Currency translation adjustments (32.6) (28.9) 0.9
Comprehensive income $ 209.7 $ 199.8 $ 147.0