Income Taxes (Tables)

12 Months Ended

Mar. 31, 2023

Income Tax Disclosure [Abstract]

Schedule Of Components of Income Tax Expense

Income taxes for the fiscal years ended March 31, 2023, 2022, and 2021 consisted of the following: 

	Fiscal Year Ended March 31,
	2023		2022		2021
Current
United States	$	9,967	$	15,042	$	9,500
State and local	1,134		265		621
Foreign	8,289		25,828		21,626
	19,390		41,135		31,747
Deferred
United States	(4,727)		(498)		(5,938)
State and local	613		1,568		(314)
Foreign	(3,543)		(3,542)		3,917
	(7,657)		(2,472)		(2,335)
Total	$	11,733	$	38,663	$	29,412

Foreign taxes include any applicable U.S. tax expense on the earnings of foreign subsidiaries.

Schedule Of Effective Income Tax Rate Reconciliation

A reconciliation of the U.S. federal statutory tax rate to the Company’s effective income tax rate is as follows:

	Fiscal Year Ended March 31,
	2023		2022		2021
U.S. federal statutory tax rate	21.0	%	21.0	%	21.0	%
State income taxes, net of federal benefit	1.0		1.0		0.2
Foreign earnings taxed at rates other than the U.S. federal statutory tax rate	(1.5)		3.7		(0.9)
Foreign dividend withholding taxes	2.6		2.3		5.3
Brazil tax ruling	(17.1)		—		—
Changes in uncertain tax positions	(0.1)		(0.3)		—
Other	2.4		(0.5)		(2.2)
Effective income tax rate	8.3	%	27.2	%	23.4	%

Schedule Of U.S. And Foreign Components Of Income Before Income Taxes And Other Items

The U.S. and foreign components of income before income taxes were as follows:

	Fiscal Year Ended March 31,
	2023		2022		2021
United States	$	27,942	$	74,553	$	30,060
Foreign	114,027		67,714		95,666
Total	$	141,969	$	142,267	$	125,726

Schedule Of Deferred Tax Assets and Liabilities

Significant components of deferred tax liabilities and assets were as follows:  

	March 31,
	2023		2022
Liabilities
Foreign withholding taxes	$	17,123	$	19,353
Property, plant and equipment	10,617		10,567
Undistributed earnings	3,772		3,004
Operating lease right-of-use assets	5,791		6,621
Goodwill and other intangible assets	33,781		34,584
Local currency exchange gains of foreign subsidiaries	1,432		4,094
All other	3,239		3,414
Total deferred tax liabilities	$	75,755	$	81,637
Assets
Employee benefit plans	$	15,654	$	16,138
Reserves and accruals	5,692		9,844
Deferred income	5,573		4,127
Operating lease right-of-use liabilities	5,500		6,538
Currency translation losses of foreign subsidiaries	2,173		2,173
Local currency exchange losses of foreign subsidiaries	1,084		595
Foreign tax credit carryforward	5,578		2,538
Capital loss carryforwards	4,197		—
All other	11,016		7,148
Total deferred tax assets	56,467		49,101
Valuation allowance	(10,234)		(3,182)
Net deferred tax assets	$	46,233	$	45,919

Schedule Of Combined Income Tax Expense (Benefit) Allocable To Continuing Operations, Other Comprehensive Income, And Adjustments To Shareholders' Equity

The combined income tax expense (benefit) allocable to continuing operations and other comprehensive income was as follows:

	Fiscal Year Ended March 31,
	2023		2022		2021
Continuing operations	$	11,733	$	38,663	$	29,412
Other comprehensive loss	3,551		6,555		9,563
Total	$	15,284	$	45,218	$	38,975

Reconciliation Of The Gross Liability For Uncertain Tax Positions

A reconciliation of the beginning and ending balance of the gross liability for uncertain tax positions is as follows:

	Fiscal Year Ended March 31,
	2023		2022		2021
Liability for uncertain tax positions, beginning of year	$	2,024	$	2,437	$	2,377
Additions:
Related to tax positions for the current year	1,198		48		49
Related to tax positions for prior years	—		328		—
Reductions:
Due to lapses of statutes of limitations	(75)		(56)		(135)
Due to tax settlements	(1,661)		(814)		—
Effect of currency rate changes	(71)		81		146
Liability for uncertain tax positions, end of year	$	1,415	$	2,024	$	2,437