Net Periodic Benefit Cost (Tables)

12 Months Ended

Mar. 31, 2018

Retirement Benefits [Abstract]

Schedule of Net Benefit Costs

Net periodic pension cost included the following components:

	2018			2017			2016
Service costs—benefits earned during the period	$	2,580		$	1,779		$	2,187
Interest cost on projected benefit obligation	16,488			16,648			13,926
Expected return on plan assets	(21,483		)	(22,428		)	(19,783		)
Net amortization	3,083			3,190			10
Curtailment	5			—			—
Settlement	—			247			—
Other	17			(57		)	2,452
Net periodic pension cost (benefit)	$	690		$	(621	)	$	(1,208	)

Information for pension plans with a projected benefit obligation in excess of plan assets is as follows:

	March 31,
	2018		2017
Projected benefit obligation	$	462,284	$	471,871
Fair value of plan assets	326,745		321,440

The Company’s retirement plan target and actual asset allocations are as follows:

	Target	Actual
	2019	2018	2017
Equity securities	46% - 42%	46%	69%
Fixed income	54% - 58%	54%	31%
Total plan assets	100%	100%	100%

In fiscal 2018, net periodic postretirement benefit cost included the following:

	Year Ended March 31,
	2018			2017		2016
Interest cost	$	126		$	152	$	189
Net amortization	(5		)	—		89
Net periodic postretirement benefit cost	$	121		$	152	$	278

Information for pension plans with an accumulated benefit obligation in excess of plan assets is as follows:

	March 31,
	2018		2017
Accumulated benefit obligation	$	457,323	$	463,412
Fair value of plan assets	326,745		321,440

The following provides a reconciliation of benefit obligation, plan assets, and funded status of the plans:

	March 31,
	2018			2017
Change in benefit obligation:
Benefit obligation at beginning of year	$	471,871		$	421,147
Benefit obligation assumed in STAHL acquisition	—			72,638
Service cost	2,580			1,779
Interest cost	16,488			16,648
Actuarial (gain) loss	(2,467		)	(4,475		)
Benefits paid	(35,888		)	(31,757		)
Settlement	(65		)	(883		)
Curtailment	(4,082		)	—
Foreign exchange rate changes	13,847			(3,226		)
Benefit obligation at end of year	$	462,284		$	471,871
Change in plan assets:
Fair value of plan assets at beginning of year	$	321,440		$	317,868
Actual gain (loss) on plan assets	29,930			30,164
Employer contribution	11,211			6,140
Benefits paid	(35,888		)	(31,757		)
Settlement	(65		)	(883		)
Foreign exchange rate changes	117			(92		)
Fair value of plan assets at end of year	$	326,745		$	321,440
Funded status	$	(135,539	)	$	(150,431	)
Unrecognized actuarial loss	65,832			83,030
Unrecognized prior service cost	—			8
Net amount recognized	$	(69,707	)	$	(67,393	)

Amounts recognized in the consolidated balance sheets are as follows:

	March 31,
	2018			2017
Accrued liabilities	$	(3,814	)	$	(3,310	)
Other non-current liabilities	(131,725		)	(147,121		)
Accumulated other comprehensive loss, before tax	65,832			83,038
Net amount recognized	$	(69,707	)	$	(67,393	)

Information about the expected benefit payments for the Company’s postretirement health benefit plans is as follows:

2019	$	458
2020	422
2021	376
2022	342
2023	317
2024-2028	1,186

The fair values of the Company’s defined benefit plans’ consolidated assets by asset category as of March 31 were as follows:

	March 31,
	2018		2017
Asset categories:
Equity securities	$	136,777	$	220,497
Fixed income securities	174,359		99,700
Alternative real estate	13,230		—
Cash equivalents	2,379		1,243
Total	$	326,745	$	321,440

The weighted-average assumptions in the following table represent the rates used to develop the actuarial present value of the projected benefit obligation for the year listed and also net periodic pension cost for the following year:

	2018		2017		2016
Discount rate	3.49	%	3.65	%	4.30	%
Expected long-term rate of return on plan assets	6.77	%	7.23	%	7.22	%
Rate of compensation increase	0.39	%	0.39	%	0.44	%

Information about the expected benefit payments for the Company’s defined benefit plans is as follows:

2019	$	26,964
2020	27,493
2021	27,781
2022	27,925
2023	28,332
2024-2028	138,531

The Company’s postretirement health benefit plans are not funded. The following sets forth a reconciliation of benefit obligation and the funded status of the plan:

	March 31,
	2018			2017
Change in benefit obligation:
Benefit obligation at beginning of year	$	4,111		$	5,144
Interest cost	126			152
Actuarial gain	(642		)	(841		)
Benefits paid	(311		)	(344		)
Benefit obligation at end of year	$	3,284		$	4,111
Funded status	$	(3,284	)	$	(4,111	)
Unrecognized actuarial gain	(660		)	(23		)
Net amount recognized	$	(3,944	)	$	(4,134	)

Amounts recognized in the consolidated balance sheets are as follows:

	March 31,
	2018			2017
Accrued liabilities	$	(449	)	$	(519	)
Other non-current liabilities	(2,835		)	(3,592		)
Accumulated other comprehensive gain, before tax	(660		)	(23		)
Net amount recognized	$	(3,944	)	$	(4,134	)

A one-percentage point change in assumed health care cost trend rates would have the following effects

	One Percentage Point Increase		One Percentage Point Decrease
Effect on total of service and interest cost components	$	6	$	(5	)
Effect on postretirement obligation	161		(147		)

Schedule of Changes in Fair Value of Plan Assets [Table Text Block]

The fair values by category of inputs as of March 31, 2018 and March 31, 2017 were as follows:

	Measured at NAV (1)		Quoted Prices in Active Markets for Identical Assets		Significant other observable Inputs		Significant unobservable Inputs
As of March 31, 2018:			(Level 1)		(Level 2)		(Level 3)		Total
Asset categories:
Equity securities	$	58,433	$	78,344	$	—	$	—	$	136,777
Fixed income securities	34,620		—		121,271		18,468		174,359
Alternative real estate	8,945		4,285		—		—		13,230
Cash equivalents	—		2,379		—		—		2,379
Total	$	101,998	$	85,008	$	121,271	$	18,468	$	326,745

(1) Reflects the net asset value (NAV) practical expedient used to approximate fair value. These equity investments were purchased in the current year therefore, not shown in the prior year table below.

	Quoted Prices in Active Markets for Identical Assets		Significant other observable Inputs		Significant unobservable Inputs
As of March 31, 2017:	(Level 1)		(Level 2)		(Level 3)		Total
Asset categories:
Equity securities	$	149,435	$	71,062	$	—	$	220,497
Fixed income securities	32,010		49,524		18,166		99,700
Cash equivalents	1,243		—		—		1,243
Total	$	182,688	$	120,586	$	18,166	$	321,440