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Retirement Plans (Tables)
12 Months Ended
Mar. 31, 2021
Retirement Benefits [Abstract]  
Components Of Net Periodic Pension Cost
Net periodic pension cost for fiscal 2021, 2020 and 2019, includes the following components:
 
 United States PlansInternational Plans
 Fiscal year ended March 31,Fiscal year ended March 31,
 202120202019202120202019
Service cost$— $— $— $993 $906 $997 
Interest cost533 616 631 1,388 1,485 1,831 
Expected return on plan assets(272)(448)(514)(1,899)(2,136)(2,151)
Amortization and deferral476 188 184 1,053 910 1,520 
Net periodic benefit cost$737 $356 $301 $1,535 $1,165 $2,197 
Summary Of Change In Projected Benefit Obligation
The following table sets forth a reconciliation of the related benefit obligation, plan assets, and accrued benefit costs related to the pension benefits provided by the Company for those employees covered by defined benefit plans:
 
 United States PlansInternational Plans
 March 31,March 31,
  
2021202020212020
Change in projected benefit obligation
Benefit obligation at the beginning of the period$18,111 $16,647 $68,602 $75,038 
Service cost— — 993 906 
Interest cost533 616 1,388 1,485 
Benefits paid, inclusive of plan expenses(802)(1,132)(2,087)(2,262)
Plan curtailments and settlements— — (91)(678)
Actuarial losses (gains) (36)1,980 7,761 (3,024)
Foreign currency translation adjustment— — 6,686 (2,863)
Benefit obligation at the end of the period$17,806 $18,111 $83,252 $68,602 
Summary Of Change In Plan Assets
Change in plan assets
Fair value of plan assets at the beginning of the period$12,036 $13,763 $32,831 $36,791 
Actual return on plan assets4,379 (649)6,272 (1,605)
Employer contributions652 54 1,869 2,098 
Benefits paid, inclusive of plan expenses(802)(1,132)(2,087)(2,262)
Plan curtailments and settlements— — (91)(482)
Foreign currency translation adjustment— — 4,050 (1,709)
Fair value of plan assets at the end of the period$16,265 $12,036 $42,844 $32,831 
Funded status deficit$(1,541)$(6,075)$(40,408)$(35,771)
Summary Of Amounts Recognized In The Balance Sheets
 March 31,
 20212020
Amounts recognized in the Consolidated Balance Sheets consist of:
Non current assets$15 $— 
Accrued expenses(1,514)(1,350)
Other liabilities(40,450)(40,496)
Funded status deficit$(41,949)$(41,846)
Summary Of Amounts In AOCI Before Taxes
The following table represents pension components (before tax) and related changes (before tax) recognized in AOCI for the Company’s pension plans for the years ended March 31, 2021, 2020 and 2019:

 
 Fiscal year ended March 31,
 202120202019
Amounts recorded in AOCI before taxes:
Prior service cost$(230)$(258)$(307)
Net loss(25,450)(25,796)(24,051)
Net amount recognized$(25,680)$(26,054)$(24,358)
Summary Of Changes In AOCI
 Fiscal year ended March 31,
 202120202019
Changes in plan assets and benefit obligations:
New prior service cost$— $— $— 
Net loss (gain) arising during the year(753)3,793 (99)
Effect of exchange rates on amounts included in AOCI1,909 (804)(1,984)
Amounts recognized as a component of net periodic benefit costs:
Amortization of prior service cost(46)(43)(45)
Amortization or settlement recognition of net loss(1,484)(1,250)(1,659)
Total recognized in other comprehensive (income) loss$(374)$1,696 $(3,787)
Summary Of Recognized Components Of Net Periodic Pension Cost Included In Accumulated Other Comprehensive Income
The amounts included in AOCI as of March 31, 2021 that are expected to be recognized as components of net periodic pension cost (before tax) during the next twelve months are as follows:
 
Prior service cost$(46)
Net loss(1,163)
Net amount expected to be recognized$(1,209)
Summary Of Accumulated Benefit Obligation Related To All Defined Pension Plans
The accumulated benefit obligation related to all defined benefit pension plans and information related to unfunded and underfunded defined benefit pension plans at the end of each fiscal year are as follows:
 
 United States PlansInternational Plans
 March 31,March 31,
 2021202020212020
All defined benefit plans:
Accumulated benefit obligation$17,806 $18,111 $78,360 $65,336 
Unfunded defined benefit plans:
Projected benefit obligation$— $— $34,932 $30,773 
Accumulated benefit obligation— — 31,970 28,926 
Defined benefit plans with a projected benefit obligation in excess of the fair value of plan assets:
Projected benefit obligation$17,806 $18,111 $82,814 $68,602 
Fair value of plan assets16,265 12,036 42,390 32,831 
Defined benefit plans with an accumulated benefit obligation in excess of the fair value of plan assets:
Projected benefit obligation$17,806 $18,111 $82,814 $68,602 
Accumulated benefit obligation17,806 18,111 77,928 65,336 
Fair value of plan assets16,265 12,036 42,390 32,831 
Significant Assumptions Used To Determine The Net Periodic Benefit Cost
Significant assumptions used to determine the net periodic benefit cost for the U.S. and International plans were as follows:

 
 United States PlansInternational Plans
 Fiscal year ended March 31,Fiscal year ended March 31,
 202120202019202120202019
Discount rate3.0 %3.8 %3.9 %
1.3%-2.3%
1.0%-2.7%
1.4%-3.3%
Expected return on plan assets6.0 6.3 6.3 
3.8-5.5
4.3-6.0
4.1-6.0
Rate of compensation increaseN/AN/AN/A
2.0-3.5
2.0-4.0
1.8-4.0
N/A = not applicable
Significant Assumptions Used To Determine The Projected Benefit Obligations
Significant assumptions used to determine the projected benefit obligations for the U.S. and International plans were as follows:

 
 United States PlansInternational Plans
 March 31,March 31,
 2021202020212020
Discount rate3.0 %3.0 %
0.5%-2.3%
1.3%-2.3%
Rate of compensation increaseN/AN/A
1.5-4.0
2.0-3.5
 N/A = not applicable
Summary Of Pension Plan Investments Measured At Fair Value
The following table represents the Company's pension plan investments measured at fair value as of March 31, 2021 and 2020 and the basis for that measurement:

 
 March 31, 2021
 United States PlansInternational Plans
 Total Fair
Value
Measurement
Quoted Price
In Active
Markets
for Identical
Assets
(Level 1)
Significant
Other
Observable
Inputs
(Level 2)
Significant
Unobservable
Inputs
(Level 3)
Total Fair
Value
Measurement
Quoted Price
In Active
Markets
for Identical
Assets
(Level 1)
Significant
Other
Observable
Inputs
(Level 2)
Significant
Unobservable
Inputs
(Level 3)
Asset category:
Cash and cash equivalents$1,454 $1,454 $— $— $81 $81 $— $— 
Equity securities
US(a)
10,435 10,435 — — — — — — 
International(b)
— — — — 28,144 — 28,144 — 
Fixed income(c)
4,376 4,376 — — 14,619 — 14,619 — 
Total$16,265 $16,265 $— $— $42,844 $81 $42,763 $— 
 
 March 31, 2020
 United States PlansInternational Plans
 Total Fair
Value
Measurement
Quoted Price
In Active
Markets
for Identical
Assets
(Level 1)
Significant
Other
Observable
Inputs
(Level 2)
Significant
Unobservable
Inputs
(Level 3)
Total
Fair Value
Measurement
Quoted Price
In Active
Markets
for Identical
Assets
(Level 1)
Significant
Other
Observable
Inputs
(Level 2)
Significant
Unobservable
Inputs
(Level 3)
Asset category:
Cash and cash equivalents$1,221 $1,221 $— $— $141 $141 $— $— 
Equity securities
US(a)
6,860 6,860 — — — — — — 
International(b)
— — — — 20,059 — 20,059 — 
Fixed income(c)
3,955 3,955 — — 12,631 — 12,631 — 
Total$12,036 $12,036 $— $— $32,831 $141 $32,690 $— 

The fair values presented above were determined based on valuation techniques to measure fair value as discussed in Note 1.
(a)US equities include companies that are well diversified by industry sector and equity style (i.e., growth and value strategies). Active and passive management strategies are employed. Investments are primarily in large capitalization stocks and, to a lesser extent, mid- and small-cap stocks.
(b)International equities are invested in companies that are traded on exchanges outside the U.S. and are well diversified by industry sector, country and equity style. Active and passive strategies are employed. The vast majority of the investments are made in companies in developed markets with a small percentage in emerging markets.
(c)Fixed income consists primarily of investment grade bonds from diversified industries.
Summary Of Estimated Future Benefit Payments
Estimated future benefit payments under the Company’s pension plans are as follows:

 
 
2022$3,181 
20233,253 
20243,172 
20253,794 
20264,073 
Years 2027-203122,308