Income Taxes (Tables)

12 Months Ended

Mar. 31, 2024

Income Tax Disclosure [Abstract]

Schedule Of Components of Income Tax Expense

Income taxes for the fiscal years ended March 31, 2024, 2023, and 2022 consisted of the following: 

	Fiscal Year Ended March 31,
	2024		2023		2022
Current
United States	$	5,107	$	9,967	$	15,042
State and local	696		1,134		265
Foreign	30,711		8,289		25,828
	36,514		19,390		41,135
Deferred
United States	(824)		(4,727)		(498)
State and local	(138)		613		1,568
Foreign	(4,443)		(3,543)		(3,542)
	(5,405)		(7,657)		(2,472)
Total	$	31,109	$	11,733	$	38,663

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,
	2024		2023		2022
U.S. federal statutory tax rate	21.0	%	21.0	%	21.0	%
State income taxes, net of federal benefit	0.3		1.0		1.0
Foreign earnings taxed at rates other than the U.S. federal statutory tax rate	(5.2)		(1.5)		3.7
Foreign dividend withholding taxes	2.9		2.6		2.3
Brazil tax ruling	—		(17.1)		—
Changes in uncertain tax positions	(0.2)		(0.1)		(0.3)
Other	0.2		2.4		(0.5)
Effective income tax rate	19.0	%	8.3	%	27.2	%

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,
	2024		2023		2022
United States	$	22,517	$	27,942	$	74,553
Foreign	141,563		114,027		67,714
Total	$	164,080	$	141,969	$	142,267

Schedule Of Deferred Tax Assets and Liabilities

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

	March 31,
	2024		2023
Liabilities
Foreign withholding taxes	$	15,350	$	17,123
Property, plant and equipment	10,604		10,617
Undistributed earnings	3,145		3,772
Operating lease right-of-use assets	8,119		5,791
Goodwill and other intangible assets	32,232		33,781
Interest rate swap	3,036		1,885
All other	1,168		2,786
Total deferred tax liabilities	$	73,654	$	75,755
Assets
Employee benefit plans	$	15,938	$	15,654
Reserves and accruals	6,973		5,692
Deferred income	5,827		5,573
Operating lease right-of-use liabilities	7,407		5,500
Currency translation losses of foreign subsidiaries	2,156		2,173
Local currency exchange losses of foreign subsidiaries	2,075		1,084
Foreign tax credit carryforward	8,196		5,578
Capital loss carryforwards	4,143		4,197
All other	9,997		11,016
Total deferred tax assets	62,712		56,467
Valuation allowance	(13,016)		(10,234)
Net deferred tax assets	$	49,696	$	46,233

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,
	2024		2023		2022
Continuing operations	$	31,109	$	11,733	$	38,663
Other comprehensive loss	(1,056)		3,551		6,555
Total	$	30,053	$	15,284	$	45,218

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,
	2024		2023		2022
Liability for uncertain tax positions, beginning of year	$	1,415	$	2,024	$	2,437
Additions:
Related to tax positions for the current year	65		1,198		48
Related to tax positions for prior years	—		—		328
Reductions:
Due to lapses of statutes of limitations	(56)		(75)		(56)
Due to tax settlements	(311)		(1,661)		(814)
Effect of currency rate changes	(43)		(71)		81
Liability for uncertain tax positions, end of year	$	1,070	$	1,415	$	2,024