PENSION BENEFIT PLANS

9 Months Ended

Dec. 31, 2021

Retirement Benefits [Abstract]

PENSION BENEFIT PLANS

PENSION BENEFIT PLANS

Certain of the Company's non-U.S. employees participate in noncontributory defined benefit pension plans. None of the Company's employees in the U.S. participate in any noncontributory defined benefit pension plans. In general, these plans are funded based on considerations relating to legal requirements, underlying asset returns, the plan's funded status, the anticipated deductibility of the contribution, local practices, market conditions, interest rates and other factors.

The following sets forth the components of the Company's net periodic pension cost of the noncontributory defined benefit pension plans for the three and nine months ended December 31, 2021 and 2020 (in thousands):

	Three Months Ended				Nine Months Ended
	December 31,				December 31,
	2021		2020		2021		2020
Service cost	$	41	$	55	$	129	$	159
Interest cost	83		97		263		283
Net periodic pension cost	$	124	$	152	$	392	$	442

Expected Contributions

During the nine months ended December 31, 2021, the Company made contributions of $0.3 million to its defined benefit pension plans. During the fiscal year ending March 31, 2022, the Company's cash contribution requirements for its defined benefit pension plans are expected to be less than $1.0 million. As a majority of the participants within the Company's plans are all active employees, the benefit payments are not expected to be material in the foreseeable future.