PENSION BENEFIT PLANS

6 Months Ended

Sep. 30, 2023

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 six months ended September 30, 2023 and 2022, respectively, (in thousands):

	Three Months Ended				Six Months Ended
	September 30,				September 30,
	2023		2022		2023		2022
Service cost	$	19	$	41	$	39	$	86
Interest cost	46		84		96		176
Net periodic pension cost	$	65	$	125	$	135	$	262

Expected Contributions

During the six months ended September 30, 2023, the Company made contributions of $0.3 million to its defined benefit pension plans. During the fiscal year ending March 31, 2024, 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.