Fair Value Measurements (Tables)

12 Months Ended

Mar. 31, 2023

Financial Assets And Liabilities Measured At Fair Value On Recurring Basis

At March 31, 2023 and 2022, the Company had certain financial assets and financial liabilities that were required to be measured and reported at fair value on a recurring basis. These assets and liabilities are listed in the tables below and are classified based on how their values were determined under the fair value hierarchy or the NAV practical expedient:


	March 31, 2023
			Fair Value Hierarchy
	NAV		Level 1		Level 2		Level 3		Total
Assets
Money market funds	$	400	$	—	$	—	$	—	$	400
Trading securities associated with deferred compensation plans	—		11,698		—		—		11,698

Forward foreign currency exchange contracts	—		—		8,422		—		8,422
Total financial assets measured and reported at fair value	$	400	$	11,698	$	8,422	$	—	$	20,520

Liabilities



Interest rate swap agreements	$	—	$	—	$	3,077	$	—	$	3,077
Forward foreign currency exchange contracts	—		—		1,325		—		1,325
Total financial liabilities measured and reported at fair value	$	—	$	—	$	4,402	$	—	$	4,402


	March 31, 2022
			Fair Value Hierarchy
	NAV		Level 1		Level 2		Level 3		Total
Assets
Money market funds	$	334	$	—	$	—	$	—	$	334
Trading securities associated with deferred compensation plans	—		13,655		—		—		13,655

Forward foreign currency exchange contracts	—		—		24,068		—		24,068
Total financial assets measured and reported at fair value	$	334	$	13,655	$	24,068	$	—	$	38,057

Liabilities



Interest rate swap agreements	—		—		1,161		—		1,161
Forward foreign currency exchange contracts	—		—		3,264		—		3,264
Total financial liabilities measured and reported at fair value	$	—	$	—	$	4,425	$	—	$	4,425

Schedule of Business Acquisitions by Acquisition, Contingent Consideration

A reconciliation of the change in the balance of the acquisition-related contingent consideration obligation (Level 3) for the fiscal years ended March 31, 2023 and 2022 is provided below.


	Fiscal Year Ended March 31,
	2023		2022
Balance beginning of year	$	—	$	2,532


Change in fair value of contingent consideration liability	—		(2,532)
Balance at end of year	$	—	$	—

Schedule of Carrying Values and Estimated Fair Values of Debt Instruments

The following table summarizes the fair and carrying value of the Company’s long-term debt, including the current portion at each of the balance sheet dates March 31, 2023 and 2022:


	Fiscal Year Ended March 31,
(in millions of dollars)	2023		2022
Fair market value of long term obligations	$	621	$	517
Carrying value of long term obligations	$	620	$	520