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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Cash flows from operating activities:    
Net income $ 235,803 $ 215,452
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation 32,154 32,655
Amortization of intangible assets 21,958 17,236
Loss (gain) on investments 772 (589)
Share-based compensation expense 40,301 37,163
Deferred income taxes 480 (9,722)
Other (1,012) (378)
Changes in assets and liabilities, net of acquisitions:    
Accounts receivable, net (147,292) (158,944)
Inventories (15,170) (69,163)
Other assets 2,866 (11,098)
Accounts payable 155,190 133,657
Accrued and other liabilities (1,896) 87,174
Net cash provided by operating activities 324,154 273,443
Cash flows from investing activities:    
Purchases of property, plant and equipment (28,667) (28,304)
Investment in privately held companies (310) (2,542)
Acquisitions, net of cash acquired (91,569) (133,908)
Proceeds from the sale of property, plant and equipment 1,037 0
Purchases of short-term investments 0 (1,505)
Purchases of trading investments (3,071) (4,335)
Proceeds from sales of trading investments 3,139 4,838
Net cash used in investing activities (119,441) (165,756)
Cash flows from financing activities:    
Payment of cash dividends (124,180) (113,971)
Purchases of registered shares (15,127) (22,454)
Proceeds from exercises of stock options and purchase rights 11,540 10,135
Tax withholdings related to net share settlements of restricted stock units (23,096) (29,111)
Net cash used in financing activities (150,863) (155,401)
Effect of exchange rate changes on cash and cash equivalents (2,320) (9,745)
Net increase (decrease) in cash and cash equivalents 51,530 (57,459)
Cash and cash equivalents, beginning of the period 604,516 641,947
Cash and cash equivalents, end of the period 656,046 584,488
Non-cash investing activities:    
Property, plant and equipment purchased during the period and included in period end liability accounts $ 4,871 $ 3,742