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

Consolidated Statements of Operations and Comprehensive Income

v3.7.0.1
Consolidated Statements of Operations and Comprehensive Income - USD ($)
shares in Millions, $ in Millions
12 Months Ended
Mar. 31, 2017
Mar. 31, 2016
Mar. 31, 2015
Income Statement [Abstract]      
Net sales $ 1,921.6 $ 1,728.2 $ 1,656.9
Cost of goods sold (1,246.9) (1,096.0) (1,078.1)
Gross profit 674.7 632.2 578.8
Selling, general and administrative expenses (291.6) (254.2) (245.5)
Research and development expenses (30.3) (29.5) (31.7)
Asbestos adjustments 40.4 5.5 33.4
Operating income 393.2 354.0 335.0
Interest expense, net of capitalized interest (28.5) (26.6) (9.8)
Interest income 1.0 1.0 2.3
Other income (expense) 1.3 2.1 (4.9)
Income before income taxes 367.0 330.5 322.6
Income tax expense (90.5) (86.1) (31.3)
Net income $ 276.5 $ 244.4 $ 291.3
Income per share:      
Basic $ 0.62 $ 0.55 $ 0.65
Diluted $ 0.62 $ 0.55 $ 0.65
Weighted average common shares outstanding (Millions):      
Basic 442.7 445.3 445.0
Diluted 443.9 447.2 446.4
Comprehensive income, net of tax:      
Net income $ 276.5 $ 244.4 $ 291.3
Pension and post-retirement benefit adjustments   0.3  
Cash flow hedges     (0.6)
Currency translation adjustments (3.0) 0.9 (32.9)
Comprehensive income $ 273.5 $ 245.6 $ 257.8