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Accumulated Other Comprehensive Loss (Tables)
 12 Months Ended
Mar. 31, 2017
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]  
Schedule of Accumulated Other Comprehensive Income (Loss)
The activity by year related to investments, including reclassification adjustments for activity included in earnings are as follows (all items shown net of tax):

 
 
Year Ended March 31,
 
 
2017
 
2016
 
2015
Net unrealized investment gain (loss) at beginning of year
 
$
626

 
$
859

 
$
1,768

Unrealized holdings gain (loss) arising during the period
 
173

 
(79
)
 
433

Reclassification adjustments for gain included in earnings
 
(105
)
 
(154
)
 
(1,342
)
Net change in unrealized gain (loss) on investments
 
68

 
(233
)
 
(909
)
Net unrealized investment gain at end of year
 
$
694

 
$
626

 
$
859




 

Changes in accumulated other comprehensive income by component for the year ended March 31, 2017 are as follows (in thousands):

 
 
March 31, 2017
 
 
Unrealized Investment Gain
 
Retirement Obligations
 
Foreign Currency
 
Change in Derivatives Qualifying as Hedges
 
Total
Beginning balance net of tax
 
$
626

 
$
(72,824
)
 
$
(20,985
)
 
$
(1,564
)
 
(94,747
)
Other comprehensive income (loss) before reclassification
 
173

 
8,035

 
(9,379
)
 
(3,205
)
 
(4,376
)
Amounts reclassified from other comprehensive loss to net income
 
(105
)
 
2,073

 
—

 
(309
)
 
1,659

Net current period other comprehensive (loss) income
 
68

 
10,108

 
(9,379
)
 
(3,514
)
 
(2,717
)
Ending balance
 
$
694

 
$
(62,716
)
 
$
(30,364
)
 
$
(5,078
)
 
$
(97,464
)
The components of accumulated other comprehensive loss is as follows:

 
 
March 31,
 
 
2017
 
2016
Foreign currency translation adjustment – net of tax
 
$
(30,364
)
 
$
(20,985
)
Pension liability – net of tax
 
(61,936
)
 
(71,389
)
Postretirement obligations – net of tax
 
888

 
364

Split-dollar life insurance arrangements – net of tax
 
(1,668
)
 
(1,799
)
Derivatives qualifying as hedges – net of tax
 
(5,078
)
 
(1,564
)
Net unrealized investment gain – net of tax
 
694

 
626

Accumulated other comprehensive loss
 
$
(97,464
)
 
$
(94,747
)
Reclassification out of Accumulated Other Comprehensive Income
Details of amounts reclassified out of accumulated other comprehensive loss for the year ended March 31, 2017 are as follows (in thousands):


Details of AOCL Components
 
Amount reclassified from AOCL
 
Affected line item on consolidated statement of operations
Unrealized gain on investments
 
 
 
 
 
 
$
(161
)
 
Investment income
 
 
(161
)
 
Total before tax
 
 
56

 
Tax expense
 
 
$
(105
)
 
Net of tax
 
 
 
 
 
Net pension amount unrecognized
 
 

 
 
 
 
$
3,190

 
(1)
 
 
3,190

 
Total before tax
 
 
1,117

 
Tax benefit
 
 
$
2,073

 
Net of tax
 
 
 
 
 
Change in derivatives qualifying as hedges
 
 
 
 
 
 
$
50

 
Cost of products sold
 
 
1,024

 
Interest expense
 
 
(1,460
)
 
Foreign currency
 
 
(386
)
 
Total before tax
 
 
77

 
Tax benefit
 
 
$
(309
)
 
Net of tax

(1)
These accumulated other comprehensive loss components are included in the computation of net periodic pension cost. (See Note 12 — Pensions and Other Benefit Plans for additional details.)