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Pension and Other Post-retirement Benefit Plans (Tables)
 12 Months Ended
Mar. 31, 2015
Compensation and Retirement Disclosure [Abstract]  
Summary of the changes in benefit obligations and plan assets
A summary of the changes in benefit obligations and plan assets is as follows (amounts in thousands):
 
 
Pension
 
Other Benefits
 
 
2015
 
2014
 
2015
 
2014
Change in Benefit Obligation
 
 
 
 
 
 
 
 
Benefit obligation at beginning of the year
 
$
42,715

 
$
39,096

 
$
785

 
$
799

Service cost
 
1,286

 
1,308

 
—

 
—

Interest cost
 
1,819

 
1,734

 
29

 
23

Plan participants' contributions
 
—

 
—

 
474

 
555

Plan amendments
 
1,006

 
285

 
—

 
—

Actuarial (gain) loss
 
13,673

 
(377
)
 
118

 
94

Foreign currency exchange rate change
 
(9,988
)
 
2,009

 
—

 
—

Gross benefits paid
 
(1,111
)
 
(1,302
)
 
(560
)
 
(686
)
Curtailments and settlements
 
(58
)
 
(38
)
 
—

 
—

Benefit obligation at end of year
 
$
49,342

 
$
42,715

 
$
846

 
$
785

Change in Plan Assets
 
 
 
 
 
 
 
 
Fair value of plan assets at beginning of year
 
$
9,946

 
$
8,806

 
$
—

 
$
—

Actual return on plan assets
 
1,737

 
260

 
—

 
—

Foreign currency exchange rate changes
 
(1,353
)
 
874

 
—

 
—

Employer contributions
 
1,303

 
1,346

 
86

 
131

Settlements
 
(39
)
 
(38
)
 
—

 
—

Plan participants' contributions
 
—

 
—

 
474

 
555

Gross benefits paid
 
(1,111
)
 
(1,302
)
 
(560
)
 
(686
)
Fair value of plan assets at end of year
 
$
10,483

 
$
9,946

 
$
—

 
$
—

Funded status at end of year
 
 
 
 
 
 
 
 
Fair value of plan assets
 
$
10,483

 
$
9,946

 
$
—

 
$
—

Benefit obligations
 
(49,342
)
 
(42,715
)
 
(846
)
 
(785
)
Amount recognized at end of year
 
$
(38,859
)
 
$
(32,769
)
 
$
(846
)
 
$
(785
)
Schedule of amounts recognized in the Consolidated Balance Sheets
Amounts recognized in the Consolidated Balance Sheets consist of the following (amounts in thousands):
 
 
Pension
 
Other Benefits
 
 
2015
 
2014
 
2015
 
2014
Current liability
 
$
(626
)
 
$
(615
)
 
$
(97
)
 
$
(88
)
Noncurrent liability
 
(38,233
)
 
(32,154
)
 
(749
)
 
(697
)
Amount recognized, end of year
 
$
(38,859
)
 
$
(32,769
)
 
$
(846
)
 
$
(785
)
Schedule of amounts recognized in Accumulated other comprehensive income (loss)
Amounts recognized in Accumulated other comprehensive income (loss) consist of the following (amounts in thousands):
 
 
Pension
 
Other Benefits
 
 
2015
 
2014
 
2015
 
2014
Net actuarial loss (gain)
 
$
21,408

 
$
9,269

 
$
(1,159
)
 
$
(1,464
)
Prior service cost
 
1,300

 
310

 
—

 
—

Accumulated other comprehensive (income) loss
 
$
22,708

 
$
9,579

 
$
(1,159
)
 
$
(1,464
)
Schedule of components of benefit costs (credit)
Components of benefit costs (credit) consist of the following (amounts in thousands):
 
 
Pension
 
Other Benefits
 
 
2015
 
2014
 
2013
 
2015
 
2014
 
2013
Net service cost
 
$
1,286

 
$
1,308

 
$
1,583

 
$
—

 
$
—

 
$
—

Interest cost
 
1,819

 
1,734

 
1,903

 
29

 
23

 
27

Expected return on plan assets
 
(480
)
 
(454
)
 
(656
)
 
—

 
—

 
—

Amortization:
 
 
 
 
 
 
 
 
 
 
 
 
Actuarial (gain) loss
 
277

 
318

 
544

 
(187
)
 
(259
)
 
(322
)
Prior service cost
 
17

 
4

 
20

 
—

 
—

 
—

Recurring activity
 
2,919

 
2,910

 
3,394

 
(158
)
 
(236
)
 
(295
)
One time expense (income)
 
(19
)
 
(32
)
 
266

 
—

 
—

 
—

Net periodic benefit cost (credit)
 
$
2,900

 
$
2,878

 
$
3,660

 
$
(158
)
 
$
(236
)
 
$
(295
)
Schedule of asset allocation for the Company's defined benefit pension plans and the target allocation by asset category
The asset allocation for the Company's defined benefit pension plans at March 31, 2015 and the target allocation for 2015, by asset category, are as follows:
Asset Category
 
Target
Allocation
(%)
 
Plan Assets
at March 31,
2015
(%)
Insurance (1)
 
10
 
6
International equities
 
30
 
35
International bonds
 
50
 
58
Other
 
10
 
1
Total
 
100
 
100
_______________________________________________________________________________
(1)
Comprised of assets held by the defined benefit pension plan in Germany.
Schedule of other changes in plan assets and benefit obligations recognized in Accumulated other comprehensive income (loss)
Other changes in plan assets and benefit obligations recognized in Accumulated other comprehensive income (loss) are as follows (amounts in thousands):
 
 
Pension
 
Other Benefits
 
 
2015
 
2014
 
2013
 
2015
 
2014
 
2013
Current year actuarial (gain) loss
 
$
12,397

 
$
(190
)
 
$
3,669

 
$
118

 
$
95

 
$
(145
)
Foreign currency exchange rate changes
 
—

 
—

 
(238
)
 
—

 
—

 
—

Amortization of actuarial gain (loss)
 
(258
)
 
(286
)
 
(4,582
)
 
187

 
259

 
322

Current year prior service cost
 
1,006

 
285

 
—

 
—

 
—

 
—

Amortization of prior service cost
 
(17
)
 
(4
)
 
(101
)
 
—

 
—

 
—

Total recognized in other comprehensive income
 
$
13,128

 
$
(195
)
 
$
(1,252
)
 
$
305

 
$
354

 
$
177

Total recognized in net periodic benefit cost and other comprehensive income (loss)
 
$
16,028

 
$
2,683

 
$
2,408

 
$
147

 
$
118

 
$
(118
)
Schedule of expected future benefit payments
The Company expects to have benefit payments in the future as follows (amounts in thousands):
 
 
Expected benefit payments
 
 
2016
 
2017
 
2018
 
2019
 
2020
 
2021- 2025
Pension benefits
 
$
1,367

 
$
1,363

 
$
1,381

 
$
1,510

 
$
1,603

 
$
9,654

Other benefits
 
98

 
95

 
91

 
86

 
80

 
309

Total
 
$
1,465

 
$
1,458

 
$
1,472

 
$
1,596

 
$
1,683

 
$
9,963
Schedule of weighted-average assumptions used to determine the projected benefit obligation at the measurement date and the net periodic cost for the pension and post-retirement plan
The following weighted-average assumptions were used to determine the projected benefit obligation at the measurement date and the net periodic cost for the pension and post-retirement plan (amounts in thousands except percentages):
 
 
Pension
 
Other Benefits
 
 
2015
 
2014
 
2015
 
2014
Projected benefit obligation:
 
 
 
 
 
 
 
 
Discount rate
 
2.8
%
 
4.5
%
 
2.9
%
 
3.4
%
Rate of compensation increase
 
3.5
%
 
3.4
%
 
—
%
 
—
%
Health care cost trend on covered charges
 
—

 
—

 
7.0%
decreasing to
ultimate trend
of 5% in 2019

 
7.0%
decreasing to
ultimate trend
of 5% in 2018

Net periodic benefit cost:
 
 
 
 
 
 
 
 
Discount rate
 
4.6
%
 
4.5
%
 
3.4
%
 
2.8
%
Rate of compensation increase
 
3.4
%
 
3.5
%
 
—
%
 
—
%
Expected return on plan assets
 
4.9
%
 
4.9
%
 
—
%
 
—
%
Health care cost trend on covered charges
 
—

 
—

 
7.0%
decreasing to
ultimate trend
of 5% in 2018

 
7.0%
decreasing to
ultimate trend
of 5% in 2017

Sensitivity of retiree welfare results
 
 
 
 
 
 
 
 
Effect of a one percentage point increase in assumed health care cost trend:          
 
 
 
 
 
 
 
 
—On total service and interest costs components
 
 

 
 

 
$
—

 
$
—

—On post-retirement benefits obligation
 
 

 
 

 
18

 
15

Effect of a one percentage point decrease in assumed health care cost trend:
 
 
 
 
 
 
 
 
—On total service and interest costs components
 
 

 
 

 
—

 
—

—On post-retirement benefits obligation
 
 

 
 

 
(17
)
 
(13
)
Schedule of fair value of pension plan assets measured on recurring basis
The Company evaluated input from its third-party actuary to determine the appropriate discount rate. The determination of the discount rate is based on various factors such as the rate on bonds, term of the expected payou
Summary of changes in the fair value of the defined benefit pension plan's Level 3 assets
The table below sets forth a summary of changes in the fair value of the defined benefit pension plan's Level 3 assets for the fiscal year ended March 31, 2015 (amounts in thousands):
Balance at March 31, 2014
$
706

Actual return on plan assets
39

Employer contributions
366

Settlements
—

Benefits paid
(375
)
Foreign currency exchange rate change
(160
)
Balance at March 31, 2015
$
576