Employee Benefit Plans

12 Months Ended

Mar. 31, 2023

Defined Benefit Plans

The Company has defined benefit pension plans that cover certain French and German employees. Most of these defined pension plans, which were acquired in prior acquisitions, are unfunded. Plan benefits are provided in accordance with local statutory requirements and are based on years of service and employee compensation levels.

The change in projected benefit obligation and the accumulated benefit obligation was immaterial for fiscal 2023 and fiscal 2022. As of March 31, 2023, the Company has recorded $53.9 million related to the pension plans in the consolidated balance sheets.

Future estimated expected benefit payments for fiscal year 2024 through 2033 are as follows (in millions):


Fiscal Year Ending March 31,	Amount
2024	$	1.8
2025	2.0
2026	2.4
2027	2.2
2028	2.8
2029 through 2033	14.9
Total	$	26.1