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PENSION BENEFIT PLANS (Tables)
12 Months Ended
Mar. 31, 2024
Retirement Benefits [Abstract]  
Schedule of Sets Forth Amounts Included in Accumulated Other Comprehensive Income
The following sets forth the amounts included in accumulated other comprehensive income at March 31, 2024 and 2023 (in thousands):
 March 31,March 31,
 20242023
Unrecognized actuarial net gain$5,802 $8,562 
Schedule of Change in Accumulated Other Comprehensive Income
The following sets forth the change in accumulated other comprehensive income during the fiscal years ended March 31, 2024 and 2023 (in thousands):
 March 31,March 31,
 20242023
Unrecognized actuarial loss (gain)$1,832 $(8,207)
Amortization of net actuarial gain928 — 
    Change in accumulated other comprehensive income$2,760 $(8,207)
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, 2024, 2023, and 2022 (in thousands):
Fiscal Year Ended March 31,
 202420232022
Service cost$206 $291 $331 
Interest cost999 699 560 
Amortization of net actuarial gain(928)— — 
     Net periodic pension cost$277 $990 $891 
Schedule of Changes in Benefit Obligation
The components of the change in benefit obligation of the pension plan are as follows (in thousands):
 March 31,March 31,
 20242023
Benefit obligation, at beginning of year$24,567 $32,849 
Service cost206 291 
Interest cost999 699 
Benefits paid and other(576)(535)
Actuarial loss (gain)1,832 (8,207)
Foreign exchange rate impact23 (530)
Benefit obligation, at end of year$27,051 $24,567 
Schedule of Benefit Obligation of the Pension Plan Recognized in Balance Sheet
The Company’s benefit obligation of the pension plan is reported in the following components of the Company's consolidated balance sheet at March 31, 2024 and 2023:
 March 31,March 31,
 20242023
Accrued compensation$714 $582 
Accrued long-term retirement benefits26,337 23,985 
Benefit obligation, at end of year$27,051 $24,567 
Schedule of Changes in Fair Value of Plan Assets
The reconciliation of the beginning and ending balances of the fair value of the assets of the pension plan is as follows (in thousands):
 March 31,March 31,
 20242023
Fair value of plan assets, at beginning of year$— $— 
Employer direct benefit payments576 535 
Benefits paid and other(576)(535)
Fair value of plan assets, at end of year$— $— 
Schedule of Assumptions Used
Weighted average assumptions used to determine net periodic pension cost at date of measurement:
March 31,March 31,March 31,
  202420232022
Discount rate 3.70 % 4.10 %2.20 %
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):
2025$714 
2026$818 
2027$899 
2028$1,018 
2029$1,103 
2030-2034$6,744