PENSION BENEFIT PLANS (Tables)

12 Months Ended

Mar. 31, 2021

Retirement Benefits [Abstract]

Schedule of Changes in Benefit Obligation

The components of the change in benefit obligation of the pension plan is as follows (in thousands):

	March 31,		March 31,
	2021		2020
Benefit obligation, at beginning of year	$	32,805	$	34,895
Service cost	333		341
Interest cost	667		603
Benefits paid and other	(400)		(359)
Actuarial loss (gain)	2,205		(1,644)
Foreign exchange rate impact	1,976		(1,031)
Benefit obligation, at end of year	$	37,586	$	32,805

Schedule of Changes in Fair Value of Plan Assets

The reconciliation of the beginning and ending balances of the fair value of the assets of the pension plan is as follows (in thousands):

	March 31,		March 31,
	2021		2020
Fair value of plan assets, at beginning of year	$	—	$	—
Employer direct benefit payments	400		359
Benefits paid and other	(400)		(359)
Fair value of plan assets, at end of year	$	—	$	—

Schedule of Net Benefit Costs

The following sets forth the components of the Company's net periodic pension cost of the noncontributory defined benefit pension plans for the fiscal years ended March 31, 2021, 2020, and 2019 (in thousands):

	Fiscal Year Ended March 31,
	2021		2020		2019
Service cost	$	333	$	341	$	304
Interest cost	667		603		704
Net periodic pension cost	$	1,000	$	944	$	1,008

Schedule of Assumptions Used

Weighted average assumptions used to determine net periodic pension cost at date of measurement:

	March 31,		March 31,		March 31,
	2021		2020		2019
Discount rate	1.60	%	1.90	%	1.80	%
Rate of compensation increase	3.00	%	3.00	%	3.00	%

Schedule of Expected Benefit Payments

The following sets forth benefit payments, which reflect expected future service, as appropriate, expected to be paid by the plan in the periods indicated (in thousands):

2022	$	485
2023	$	553
2024	$	605
2025	$	716
2026	$	932
2027 - 2031	$	5,656