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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Operating Activities    
Net income $ 158,246 $ 153,295
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 24,762 23,607
Loss on disposal of property and equipment 171 79
Deferred income taxes 14,021 11,296
Amortization of debt origination costs 2,613 2,811
Stock-based compensation costs 9,756 7,331
Loss on extinguishment of debt 0 2,122
Non-cash operating lease cost 4,697 5,034
Other 447 0
Changes in operating assets and liabilities, net of effects from acquisition:    
Accounts receivable (17,078) (21,848)
Inventories (38,587) 14,650
Prepaid expenses and other current assets (596) (5,622)
Accounts payable 8,892 (6,079)
Accrued liabilities 8,345 15,053
Operating lease liabilities (4,941) (4,807)
Other (19) (126)
Net cash provided by operating activities 170,729 196,796
Investing Activities    
Purchases of property, plant and equipment (5,226) (6,481)
Acquisition of Akorn 0 (246,914)
Other 0 177
Net cash used in investing activities (5,226) (253,218)
Financing Activities    
Term loan repayments (55,000) (545,000)
Proceeds from refinancing of Term Loan 0 597,000
Borrowings under revolving credit agreement 20,000 85,000
Repayments under revolving credit agreement (20,000) (85,000)
Payments of debt costs 0 (6,111)
Payments of finance leases (2,058) (2,145)
Proceeds from exercise of stock options 7,173 5,718
Fair value of shares surrendered as payment of tax withholding (5,466) (2,916)
Repurchase of common stock (50,000) 0
Net cash (used in) provided by financing activities (105,351) 46,546
Effects of exchange rate changes on cash and cash equivalents (979) (1,408)
Increase (decrease) in cash and cash equivalents 59,173 (11,284)
Cash and cash equivalents - beginning of period 27,185 32,302
Cash and cash equivalents - end of period 86,358 21,018
Supplemental Cash Flow Information [Abstract]    
Interest paid 36,716 36,279
Income taxes paid $ 27,632 $ 42,977