Employee Benefit Plans

6 Months Ended

Sep. 30, 2021

Share-based Payment Arrangement [Abstract]

Employee Benefit Plans

Employee Benefit Plans

Employee Share Purchase Plans and Stock Incentive Plans

As of September 30, 2021, the Company offers the 2006 Employee Share Purchase Plan (Non-U.S.), as amended and restated, the 1996 Employee Share Purchase Plan (U.S.), as amended and restated, the 2006 Stock Incentive Plan, as amended and restated, and the 2012 Stock Inducement Equity Plan. Shares issued to employees as a result of purchases or exercises under these plans are generally issued from shares held in treasury stock.

The following table summarizes the share-based compensation expense and total income tax benefit recognized for share-based awards for the three and six months ended September 30, 2021 and 2020 (in thousands):

	Three Months Ended September 30,				Six Months Ended September 30,
	2021		2020		2021		2020
Cost of goods sold	$	2,102	$	1,772	$	3,471	$	3,172
Marketing and selling	9,758		10,377		18,288		19,169
Research and development	4,724		3,763		9,785		6,866
General and administrative	7,438		8,873		16,129		15,693
Total share-based compensation expense	24,022		24,785		47,673		44,900
Income tax benefit	(3,285)		(3,958)		(19,879)		(12,069)
Total share-based compensation expense, net of income tax benefit	$	20,737	$	20,827	$	27,794	$	32,831

The income tax benefit in the respective periods primarily consisted of tax benefits related to the share-based compensation expense for the period and direct tax benefit realized, including net excess tax benefits recognized from share-based awards vested or exercised during the period.

As of September 30, 2021 and 2020, the balance of capitalized share-based compensation included in inventory was $1.3 million and $1.3 million, respectively.

Defined Benefit Plans

Certain of the Company’s subsidiaries sponsor defined benefit pension plans or non-retirement post-employment benefits covering substantially all of their employees. Benefits are provided based on employees’ years of service and earnings, or in accordance with applicable employee benefit regulations. The Company’s practice is to fund amounts sufficient to meet the requirements set forth in the applicable employee benefit and tax regulations. The costs recorded of $3.3 million and $2.7 million for the three months ended September 30, 2021 and 2020, respectively, and $6.6 million and $5.4 million for the six months ended September 30, 2021 and 2020, respectively, were primarily related to service costs.