INCOME TAXES

6 Months Ended

Sep. 30, 2022

INCOME TAXES [Abstract]

INCOME TAXES

13. INCOME TAXES

Our provision for income tax expense was $11.8 million and $20.5 million for the three and six months ended September 30, 2022, as compared to $12.6 million and $21.6 for the same period in the prior year. Our effective tax rate for the three and six months ended September 30, 2022, was 29.3% and 28.7% respectively, compared with 28.6% and 28.2%, respectively, for the same periods in the prior year. The effective tax rate for the three and six months ended September 30, 2022, and September 30, 2021, differed from the US federal statutory rate of 21.0% primarily due to state and local income taxes. Our effective income tax rate for the three and six months ended September 30, 2022, was higher compared to the same periods in the prior year primarily due to foreign currency losses incurred in lower tax jurisdictions.