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Pension And Other Postretirement Benefit Plans (Tables)
 12 Months Ended
Mar. 31, 2023
Retirement Benefits [Abstract]  
Assumptions Used To Compute Net Periodic Benefit Cost And Benefit Obligations
Assumptions used for financial reporting purposes to compute net periodic benefit cost and benefit obligations for the Company's primary defined benefit plans were as follows:
Pension BenefitsOther Postretirement Benefits
202320222021202320222021
Discount rates:
Benefit cost for plan year3.70 %3.30 %3.60 %3.60 %2.90 %3.40 %
Benefit obligation at end of plan year5.00 %3.70 %3.30 %4.90 %3.60 %2.90 %
Expected long-term return on plan assets:
Benefit cost for plan year5.50 %5.50 %6.00 %3.00 %3.00 %3.00 %
Salary scale:
Benefit cost for plan year4.00 %4.00 %4.00 %4.00 %4.00 %4.00 %
Benefit obligation at end of plan year4.00 %4.00 %4.00 %4.00 %4.00 %4.00 %
Healthcare cost trend rateN/AN/AN/A6.97 %6.17 %6.17 %
Benefit Obligations, Plan Assets, And Funded Status
The following table reflects the changes in benefit obligations and plan assets in fiscal years 2023 and 2022, as well as the funded status of the plans at March 31, 2023 and 2022:
Pension
Benefits		Other Postretirement Benefits
March 31,March 31,
2023202220232022
Actuarial present value of benefit obligation:
Accumulated benefit obligation$235,540 $269,758 
Projected benefit obligation241,399 277,050 $20,716 $24,957 
Change in projected benefit obligation:
Projected benefit obligation, beginning of year$277,050 $297,090 $24,957 $28,926 
Service cost6,172 6,674 115 170 
Interest cost9,670 8,754 944 950 
Effect of discount rate change(31,621)(18,010)(1,906)(1,549)
Foreign currency exchange rate changes(543)(1,160)(145)566 
Other(2,120)1,736 (659)(1,245)
Benefit payments(17,209)(18,034)(2,590)(2,861)
Projected benefit obligation, end of year$241,399 $277,050 $20,716 $24,957 
Change in plan assets:
Plan assets at fair value, beginning of year$256,013 $270,349 $2,706 $3,033 
Actual return on plan assets(20,613)864 73 86 
Employer contributions4,038 6,147 2,068 2,448 
Foreign currency exchange rate changes(276)(3,313)— — 
Benefit payments(17,209)(18,034)(2,590)(2,861)
Plan assets at fair value, end of year$221,953 $256,013 $2,257 $2,706 
Funded status:
Funded status of the plans, end of year$(19,446)$(21,037)$(18,459)$(22,251)
Funded Status In Consolidated Balance Sheets
The funded status of the Company’s plans at the end of fiscal years 2023 and 2022 was reported in the consolidated balance sheets as follows:
Pension
Benefits		Other Postretirement Benefits
March 31,March 31,
2023202220232022
Noncurrent assets (included in Pension asset)$9,984 $12,667 $— $— 
Current liability (included in Accrued expenses)(3,352)(1,135)(1,768)(1,930)
Noncurrent liability (reported as Pensions and other postretirement benefits)(26,078)(32,569)(16,691)(20,321)
Amounts recognized in the consolidated balance sheets$(19,446)$(21,037)$(18,459)$(22,251)
Additional Information On Funded Status
Additional information on the funded status of the Company’s plans as of the respective measurement dates for the fiscal years ended March 31, 2023 and 2022, is as follows:
Pension
Benefits		Other Postretirement Benefits
March 31,March 31,
2023202220232022
For plans with a projected benefit obligation in excess of plan assets:
Aggregate projected benefit obligation (PBO)$29,430 $39,988 $20,716 $24,957 
Aggregate fair value of plan assets— 6,284 2,257 2,706 
For plans with an accumulated benefit obligation in excess of plan assets:
Aggregate accumulated benefit obligation (ABO)28,487 38,722 N/AN/A
Aggregate fair value of plan assets— 6,284 N/AN/A
Components Of Company's Net Periodic Benefit Cost
The components of the Company’s net periodic benefit cost were as follows:
Pension BenefitsOther Postretirement Benefits
Fiscal Year Ended March 31,Fiscal Year Ended March 31,
202320222021202320222021
Components of net periodic benefit cost:
Service cost$6,172 $6,674 $6,618 $115 $170 $172 
Interest cost9,670 8,754 9,571 944 950 1,141 
Expected return on plan assets(13,630)(13,562)(14,448)(76)(86)(96)
Net amortization and deferral2,038 1,679 4,863 (737)(422)(591)
Net periodic benefit cost$4,250 $3,545 $6,604 $246 $612 $626 
Recognized In Accumulated Other Comprehensive Income (Loss) On Pretax Basis The amounts recognized in other comprehensive income or loss for fiscal years 2023 and 2022 and the amounts included in accumulated other comprehensive loss at the end of those fiscal years are shown below. All amounts shown are before allocated income taxes.
Pension
Benefits		Other Postretirement Benefits
March 31,March 31,
2023202220232022
Change in net actuarial loss (gain):
Net actuarial loss (gain), beginning of year$67,280 $72,605 $(6,681)$(4,395)
Losses (gains) arising during the year(98)(1,727)(2,223)(2,533)
Amortization included in net periodic benefit cost during the year(3,068)(3,598)572 247 
Net actuarial loss (gain), end of year64,114 67,280 (8,332)(6,681)
Change in prior service cost (benefit):
Prior service cost (benefit), beginning of year(1,487)(3,406)(201)(376)
Amortization included in net periodic benefit cost during the year1,030 1,919 165 175 
Prior service cost (benefit), end of year(457)(1,487)(36)(201)
Total amounts in accumulated other comprehensive loss
at end of year, before income taxes
$63,657 $65,793 $(8,368)$(6,882)
Amounts in the above table reflect the Company and its consolidated subsidiaries. The accumulated other comprehensive loss reported in the consolidated balance sheets also includes pension and other postretirement benefit amounts related to ownership interests in unconsolidated affiliates.
Weighted-Average Target Pension Asset Allocation And Target Ranges By Major Asset Category
The weighted–average target pension asset allocation and target ranges at the March 31, 2023 measurement date and the actual asset allocations at the March 31, 2023 and 2022 measurement dates by major asset category were as follows:
Actual Allocation
Target AllocationMarch 31,
Major Asset CategoryRange20232022
Equity securities29.0 %19 %-39%27.5 %31.1 %
Fixed income securities (1)
66.0 %56 %-76%66.0 %63.8 %
Alternative investments5.0 %0 %-10%6.5 %5.1 %
Total100.0 %100.0 %100.0 %
Expected Future Benefit Payments
Estimated future benefit payments to be made from the Company’s plans are as follows:
Fiscal YearPension
Benefits		Other
Postretirement
Benefits
2024$17,871 $2,165 
202519,163 2,039 
202622,629 1,912 
202716,444 1,828 
202819,039 1,739 
2029 - 203384,582 7,715 
Fair Values Of The Assets Under Fair Value Hierarchy
Fair values of the assets of the Company’s pension plans as of March 31, 2023 and 2022, classified based on how their values were determined under the fair value hierarchy are as follows:
March 31, 2023
Level 1Level 2Level 3Total
Equity securities$58,745 $— $— $58,745 
Fixed income securities (1)
142,335 — 6,917 149,252 
Alternative investments— — 13,956 13,956 
Total investments$201,080 $— $20,873 $221,953 
March 31, 2022
Level 1Level 2Level 3Total
Equity securities$77,175 $— $— $77,175 
Fixed income securities (1)
159,956 — 6,284 166,240 
Alternative investments— — 12,598 12,598 
Total investments$237,131 $— $18,882 $256,013 
(1)Includes high yield securities and cash and cash equivalent balances.