please answer question 4

INFORMATION) 4. What was the company's gross profit ratio for the current year and last year? Did it change materially over the past year? Does management discuss gross profits? 2021 2020 S 70.9 292.5 207.4 ASSETS Cash and cash equivalents Trade accounts receivable -net Inventories Assets held for sale Other current assets Total current assets Property, plant and equipment - net Intangible assets-net Goodwill Deferred income taxes Other noncurrent assets Total assets 37.8 267.9 195.6 107.6 35.9 644.8 269.9 100.6 170.7 24.5 66.2 62.5 633.3 448.0 106.3 166.1 104.8 77.6 1,536.1 $ 1.276.7 S S 14.8 15.6 227.4 65.0 LIABILITIES AND SHAREHOLDERS' EQUITY Short-term debt Long-term debt - current portion Accounts payable Accrued compensation and employee benefits Liabilities held for sale Other current liabilities Total current liabilities Long-term debt Deferred income taxes Pensions Other noncurrent liabilities Total liabilities Commitments and contingencies (see Note 20) Shareholders' equitya Preferred stock. $0.025 par value, authorized 16.0 million shares, issued - none Common stock, $0.625 par value, authorized 80.0 million shares, issued 54.3 million and 53.4 million shares Additional paid-in capital Retained earnings Accumulated other comprehensive loss Treasury stock, at cost, 2.7 million and 2.5 million shares Total Modine shareholders' equity Noncontrolling interest Total equity Total liabilities and equity 1.4 21.9 233.9 66.5 103.3 42.2 469.2 311.2 5.9 58.6 75.7 920.6 49.2 372.0 452.0 8.1 130.9 79.5 1,042.5 33.9 255.0 259,2 (161.2 (38.2) 348,7 7.4 356.1 1,276.7 33.3 245.1 469.9 (223.3 (37.1 487.9 5.7 493.6 1,536.1 $ S The notes to consolidated financial statements are an integral part of these statements. 46 Thef.contents MODINE MANUFACTURING COMPANY NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (In millions, except per share amounts) Disaggregation of Revenue The tables below present revenue to external customers for each of the Company's business segments by primary end market, geographic location, and based upon the timing of revenue recognition: Year ended March 31, 2021 Segment BHVAC CIS HDE Automotive Total Primary end market: Commercial HVAC&R 181.6 420.6 $ 602.2 Data center cooling 58.7 47.3 106.0 Industrial cooling 55.4 55.4 Commercial vehicle 250.4 14.4 264.8 Off-highway 260.7 3.4 264.1 Automotive and light vehicle 97.9 357.8 455.7 Other 0.3 8.7 73.1 22.7 104.8 Net sales 240.6 532.0 682.1 S 398.3 1,853.0 Geographic location: Americas 144.2 $ 267.7 $ 3882 S 51.0 851.1 Europe 96.4 219.8 133.2 282.0 7314 Asia 44.5 160.7 65.3 270.5 Net sales 240.6 $ 532.0 682.1 398.3 1,853.0 Timing of revenue recognition: Products transferred at a point in time 240.6 $ 486.3 655.2 S 398,3 S 1.780.4 Products transferred over time 45.7 26.9 72.6 Net sales $ 240.6 $ 532.0 682.1 S 398.3 S 1,853.0 $ S S Year ended March 31, 2020 HDE Automotive BHVAC Segment Total CIS $ $ 176.6 42.7 463.1 1075 43.5 Primary end market: Commercial HVAC&R Data center cooling Industrial cooling Commercial vehicle Off-highway Automotive and light vehicle Other Net sales 302. 240.8 108.4 94.6 745.9 21.6 13.1 400.4 9.8 444.9 639.7 150.2 43.5 323.7 253.9 508.8 116.0 2.035.8 1.8 221.1 9.8 623.9 S $ $ S S 139.1 82.0 345.9 232.6 45.4 623.9 484.5 141.2 120.2 745.9 70.3 321.0 53.6 444.9 1,039.8 776.8 219.2 2,035.8 221.1 S Geographic location: Americas Europe Asia Net sales Timing of revenue recognition: Products transferred at a point in time Products transferred over time Net sales 221.1 $ S 444.9 5182 105.7 623.9 715.1 30.8 745.9 1,899.3 136.5 2,035.8 221.1 444.9 37 Table of Contents 2019 55 2.213 1.847 366 Years ended March 31. 2020 SS of sales 1,976 100.0% 1.668 84.4% 308 15.6% 250 12.6% 12 0.6% 9 0.4% 1) 38 1.99 (23) 1.196 15) -0.25 TO 0.5 (12) -0.6% 12 0X106 2041 in millions) o sales Net sales 1.808 100.0% Cost of sales 1.515 83.8 Gross profit 293 16.2% Selling, general and administrative expenses 211 11.7% Restructuring expenses 13 0.7% Impairment charges 167 9.2% (Gain) loss on sale of assets Operating doss) income (98) -50% Interest expense (19) -1.1% Other expense.net (21 -0.1% Loss) earnings before income taxes (119) 6.6% (Provision) benefit for income taxes (90) -5.0% Net doss) earnings (209) - 11.6% Year Ended March 31, 2021 Compared with Year Ended March 31, 2020 244 10 o sales 100006 835 16.5% 11.08 0.4% 01% 350 -1.190 -0.21% 3702 020 39% E (25) (0) 1971 66 Other income and expense consisted of the following: Interest income Foreign currency transactions (a) Net periodic benefit cost (b) Equity in earnings of non-consolidated affiliate (c) Total other expense - net Years ended March 31, 2021 12001200 0.5 $ 0.4 S 0.6 (2.4) (3.3 (3.0 0.2 (2.2) $ (4.8) $ 2019 0.4 (2.3 (2.9 0.7 (4.1) (a) Foreign currency transactions primarily consist of foreign currency transaction gains and losses on the re-measurement or settlement of foreign currency-denominated assets and liabilities, including intercompany loans and transactions denominated in a foreign currency, along with gains and losses on foreign currency exchange contracts. (b) Net periodic benefit cost for the Company's pension and postretirement plans is exclusive of service cost (c) During fisca12020, the Company sold its ownership interest in Nikkei Heat Exchanger Company, Ltd. As a result of the sale, the Company recorded a gain of$0.1 million, which is included within the fiscal2020amount. See Noteifor additional information. Note 8: Income Taxes The U.S. and foreign components of loss or earnings before income taxes and the provision or benefit for income taxes consisted of the following: Years ended March 31, 2021 2020 2019 Components of (loss) earnings before income taxes: United States (48.7 (26.1 S 22.4 Foreign (70.6) 36.5 58.4 Total (loss) earnings before income taxes (119.3) $ 10.4 $ $ 80.8 (0.1 58.3 $ (3.4 $ (20.4 (4.2 (1.1) Income tax provision (benefit): Federal: Current Deferred State: Current Deferred Foreign: Current Deferred Total income tax provision (benefit) 0.4 9.2 (0.1 (2.3) 0.7 1.9 22.0 0.4 90.2 14.9 5.0 12.4 19.0 (2.1) (5.1 $ S On December 22, 2017, the U.S. government enacted comprehensive tax legislation commonly referred to as the Tax Act. The Tax Act included a new provision designed to tax global intangible low taxed income ("GILTI") starting in fiscal 2019. The Company elected to record the tax effects of the GILTI provision as a period expense in the applicable tax year. To determine whether its net operating loss carryforward deferred tax assets are expected to be realized the Company considers the applicable tax law ordering. Based upon this approach, net operating loss carryforwards are deemed to be realizable if they will reduce the expected tax liability when utilized, regardless of whether the 50% GILTI deduction or applicable tax credits may have been available. (32.7 0.7 (71.3 ( Cash flows from investing activities: Expenditures for property, plant and equipment Proceeds from dispositions of assets Proceeds from sale of investment in affiliate Proceeds from maturities of short-term investments Purchases of short-term investments Othernet Net cash used for investing activities 4.1 3.4 (3.6) 0.9 (31.3 32.7 (183.6) 3.6 Cash flows from financing activities: Borrowings of debt Repayments of debt Borrowings on bank overdraft facilities - net Dividend paid to noncontrolling interest Purchase of treasury stock under share repurchase program Financing fees paid Othernet Net cash (used for) provided by financing activities Effect of exchange rate changes on cash Net (decrease) increase in cash, cash equivalents, restricted cash and cash held for sale Cash, cash equivalents, restricted cash and cash held for sale - beginning of year Cash, cash equivalents, restricted cash and cash held for sale - end of year HEEGEER 1.BIZ Hrla bla. FELGE Llegia, vedel (0.8) 3.0 (145.1) 1.4 (25.2) 71.3 46.1 (1.6 29.1 42.2 71.3 $ The notes to consolidated financial statements are an integral part of these statements. 47 Table of contents MODINE MANUFACTURING COMPANY CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY For the years ended March 31, 2021, 2020 and 2019 (In millions) Additional Treasury Common stock paid-in Retained Accumulated other stock, Shares Amount tapital earnings comprehensive loss at cost 52.3 $ 32.7 s 229.9 5 394.9 $ (1403) $ (27.1) Non-controlling interest Total 8.4 $ 498.5 (7.6) 84.8 - 1.1 (38.1) (0.5 0.5 0.3 0.8 - - - - (4.3) - - 7.9 52.8 33.0 238.6 (178.4) (31.4) (1.8) 7.2 0.2 472.1 (2.2 541.1 - 3............ (44.9) - Balance, March 31, 2018 Adoption of new (A Counting guidance (Note 1) Net earnings Other comprehensive loss Stock options and awards Purchase of treasury stock Stock-based compensation expense Dividend paid to noncontrolling interest Balance, March 31, 2019 Net (Loss) earnings Other comprehensive loss Stock options and awards Purchase of treasury stock Stock-based compensation expense Dividend paid to noncontrolling interest Balance, March 31, 2020 Net (loss) earnings Other comprehensive income Sitions and awards Purchase of treasury stock Stock-based - compensation expense Balance, March 31, 2021 (0.4) 0.6 0.3 (0.1) - . ale a 6 A B 21 6 Glen @ | . - (5.7 - - - 6.6 - 53.4 33.3 245.1 (223.3 ) (37.1) 469,9 (210.7 (1.3 5.7 1.2 493.6 (209.5) - - - 62.1 - 0.5 0.9 0.6 3.6 - (1.1) 6.3 255.0 54.3 $ 33.95 $ 259.2$ $ (161,2) $ (38.2) $ 7.4 $ The notes to consolidated financial statements are an integral part of these statements. 48 Table of contents MODINE MANUFACTURING COMPANY NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (In millions, except per share amounts)