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Accumulated Other Comprehensive Loss (Schedule of Changed in Accumulated Other Comprehensive Income by Component) (Details) - USD ($)
$ in Thousands
12 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Mar. 31, 2019
Mar. 31, 2018
Accumulated Other Comprehensive Income (Loss) [Line Items]        
Beginning balance net of tax $ (114,350) $ (83,052)    
Other comprehensive income (loss) before reclassification 29,030 (29,681)    
Amounts reclassified from other comprehensive loss to net income 25,334 (1,617)    
Net current period other comprehensive (loss) income 54,364 (31,298)    
Ending balance net of tax (59,986) (114,350) $ (83,052)  
Unrealized Investment Gain        
Accumulated Other Comprehensive Income (Loss) [Line Items]        
Other comprehensive income (loss) before reclassification 0 0 0  
Amounts reclassified from other comprehensive loss to net income 0 0 0  
AOCI, Debt Securities, Available-for-sale, Adjustment, after Tax 0 0 0 $ 888
Retirement Obligations        
Accumulated Other Comprehensive Income (Loss) [Line Items]        
Beginning balance net of tax (79,041) (55,145)    
Other comprehensive income (loss) before reclassification 24,999 (25,449)    
Amounts reclassified from other comprehensive loss to net income 16,686 1,553    
Net current period other comprehensive (loss) income 41,685 (23,896)    
Ending balance net of tax (37,356) (79,041) (55,145)  
Foreign Currency        
Accumulated Other Comprehensive Income (Loss) [Line Items]        
Beginning balance net of tax (34,359) (25,355)    
Other comprehensive income (loss) before reclassification 12,583 (9,004)    
Amounts reclassified from other comprehensive loss to net income 0 0    
Net current period other comprehensive (loss) income 12,583 (9,004)    
Ending balance net of tax (21,776) (34,359) (25,355)  
Change in Derivatives Qualifying as Hedges        
Accumulated Other Comprehensive Income (Loss) [Line Items]        
Beginning balance net of tax (950) (2,552)    
Other comprehensive income (loss) before reclassification (8,552) 4,772    
Amounts reclassified from other comprehensive loss to net income 8,648 (3,170)    
Net current period other comprehensive (loss) income 96 1,602    
Ending balance net of tax (854) (950) (2,552)  
income before tax [Member] | Change in Derivatives Qualifying as Hedges        
Accumulated Other Comprehensive Income (Loss) [Line Items]        
Amounts reclassified from other comprehensive loss to net income 9,369 (4,288)    
Cost of products sold | Retirement Obligations        
Accumulated Other Comprehensive Income (Loss) [Line Items]        
Amounts reclassified from other comprehensive loss to net income 22,009 [1] 2,074    
Cost of products sold | Change in Derivatives Qualifying as Hedges        
Accumulated Other Comprehensive Income (Loss) [Line Items]        
Amounts reclassified from other comprehensive loss to net income (90) (54)    
Interest Expense [Member] | Change in Derivatives Qualifying as Hedges        
Accumulated Other Comprehensive Income (Loss) [Line Items]        
Amounts reclassified from other comprehensive loss to net income 1,585 (327)    
Foreign Currency | Change in Derivatives Qualifying as Hedges        
Accumulated Other Comprehensive Income (Loss) [Line Items]        
Amounts reclassified from other comprehensive loss to net income 7,874 (3,907)    
Tax expense | Retirement Obligations        
Accumulated Other Comprehensive Income (Loss) [Line Items]        
Amounts reclassified from other comprehensive loss to net income (5,323) (521)    
Tax expense | Change in Derivatives Qualifying as Hedges        
Accumulated Other Comprehensive Income (Loss) [Line Items]        
Amounts reclassified from other comprehensive loss to net income (721) 1,118    
Net of tax expense [Member] | Change in Derivatives Qualifying as Hedges        
Accumulated Other Comprehensive Income (Loss) [Line Items]        
Amounts reclassified from other comprehensive loss to net income 8,648 (3,170)    
Accounting Standards Update 2016-01 [Member]        
Accumulated Other Comprehensive Income (Loss) [Line Items]        
Amounts reclassified from other comprehensive loss to net income     (888)  
AOCI, Debt Securities, Available-for-sale, Adjustment, after Tax $ 0      
Accounting Standards Update 2016-01 [Member] | Unrealized Investment Gain        
Accumulated Other Comprehensive Income (Loss) [Line Items]        
Amounts reclassified from other comprehensive loss to net income   $ 0 $ 888  
[1]
20.     Accumulated Other Comprehensive Loss
 
The components of accumulated other comprehensive loss is as follows:
 March 31,
 20212020
Foreign currency translation adjustment – net of tax$(21,776)$(34,359)
Pension liability – net of tax(38,081)(79,651)
Postretirement obligations – net of tax1,989 1,950 
Split-dollar life insurance arrangements – net of tax(1,264)(1,340)
Derivatives qualifying as hedges – net of tax(854)(950)
Accumulated other comprehensive loss$(59,986)$(114,350)
 
The deferred taxes related to the adjustments associated with the items included in accumulated other comprehensive loss, net of deferred tax asset valuation allowances, were $(13,305,000), $7,445,000, and $2,566,000 for fiscal 2021, 2020, and 2019 respectively.  Refer to Note 17 for discussion of the deferred tax asset valuation allowance.  In the period subsequent to our initial recording of the valuation allowance in fiscal 2011, increases and decreases to both the deferred tax assets associated with items in accumulated other comprehensive loss, and the valuation allowance, have been recorded as offsets to comprehensive income.

As a result of the Act as described in Note 17, the Company recorded as an offsetting entry a $(7,251,000) stranded tax effect in the minimum pension liability component and a $(194,000) stranded tax effect in the split dollar life insurance arrangement component of other comprehensive income in fiscal 2018. The stranded tax effect related to the other post retirement obligations component was not material.

As a result of the recording of a deferred tax asset valuation allowance in fiscal 2011, the Company recorded as an offsetting entry a $7,605,000 stranded tax effect in the minimum pension liability component, $935,000 stranded tax effect in the other post retirement obligations component and a $747,000 stranded tax effect in the split dollar life insurance arrangement component of other comprehensive income. With the reversal of that valuation allowance in fiscal 2013, the Company recorded the reversal of the valuation allowance as a reduction of income taxes in the consolidated statement of operations.

As a result of the recording of a deferred tax asset valuation allowance in fiscal 2005, the Company recorded as an offsetting entry a $406,000 stranded tax effect in the minimum pension liability component of other comprehensive income. With the reversal of that valuation allowance in fiscal 2006, the Company recorded the reversal of the valuation allowance as a reduction of income taxes in the consolidated statement of operations.

The stranded tax effects described above are in accordance with ASC Topic 740, “Income Taxes” even though the impact of the act and the deferred tax asset valuation allowance described above were initially established as an adjustment to comprehensive income. This amount will remain indefinitely as a component of accumulated other comprehensive 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,
 202120202019
Net unrealized investment gain (loss) at beginning of year$— $— $888 
Unrealized holdings gain (loss) arising during the period— — — 
Reclassification adjustments for gain included in earnings— — — 
Adoption of ASU 2016-01— — (888)
Net change in unrealized gain (loss) on investments— — (888)
Net unrealized investment gain at end of year$— $— $— 
Changes in accumulated other comprehensive income by component are as follows (in thousands):

 March 31, 2021
 Retirement ObligationsForeign CurrencyChange in Derivatives Qualifying as HedgesTotal
Beginning balance net of tax$(79,041)$(34,359)$(950)(114,350)
Other comprehensive income (loss) before reclassification24,999 12,583 (8,552)29,030 
Amounts reclassified from other comprehensive loss to net income16,686 — 8,648 25,334 
Net current period other comprehensive (loss) income41,685 12,583 96 54,364 
Ending balance net of tax$(37,356)$(21,776)$(854)$(59,986)

 March 31, 2020
 Retirement ObligationsForeign CurrencyChange in Derivatives Qualifying as HedgesTotal
Beginning balance net of tax$(55,145)$(25,355)$(2,552)(83,052)
Other comprehensive income (loss) before reclassification(25,449)(9,004)4,772 (29,681)
Amounts reclassified from other comprehensive loss to net income1,553 — (3,170)(1,617)
Net current period other comprehensive (loss) income(23,896)(9,004)1,602 (31,298)
Ending balance net of tax$(79,041)$(34,359)$(950)$(114,350)


Details of amounts reclassified out of accumulated other comprehensive loss for the year ended March 31, 2021 are as follows (in thousands):
Details of AOCL ComponentsAmount reclassified from AOCLAffected line item on consolidated statement of operations
Net pension amount unrecognized 
 $22,009 (1)
 22,009 Total before tax
 (5,323)Tax benefit
 $16,686 Net of tax
Change in derivatives qualifying as hedges 
 $(90)Cost of products sold
1,585 Interest expense
7,874 Foreign currency
 9,369 Total before tax
 (721)Tax benefit
 $8,648 Net of tax
(1)These accumulated other comprehensive loss components are included in the computation of net periodic pension cost. (See Note 13 — Pensions and Other Benefit Plans for additional details.)

Details of amounts reclassified out of accumulated other comprehensive loss for the year ended March 31, 2020 are as follows (in thousands):
Details of AOCL ComponentsAmount reclassified from AOCLAffected line item on consolidated statement of operations
Net pension amount unrecognized 
 $2,074 (1)
 2,074 Total before tax
 (521)Tax benefit
 $1,553 Net of tax
Change in derivatives qualifying as hedges 
 $(54)Cost of products sold
(327)Interest expense
(3,907)Foreign currency
 (4,288)Total before tax
 1,118 Tax benefit
 $(3,170)Net of tax

(1)These accumulated other comprehensive loss components are included in the computation of net periodic pension cost. (See Note 13 — Pensions and Other Benefit Plans for additional details.)