Derivatives (Tables)

12 Months Ended

Mar. 31, 2020

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Gain (Loss) for Derivative Instruments Designated as Hedges [Table Text Block]

Hedging Strategy Impact on Statements of Operations

The following tables present gain and loss activity for the fiscal years ended March 31, 2020, 2019, and 2018 for derivative instruments designated as hedges (amounts in thousands):



			Fiscal Year Ended March 31, 2020
			Gain (Loss)
Derivative Instrument	Hedge Designation	Location of Gain (Loss) Recognized in Statements of Operations	Recognized in AOCI			Reclassified from AOCI to Income			Recorded Directly to Income
Cross-currency swaps ⁽¹⁾	Fair Value	Other income (expense), net	$	(346	)	$	(1,622	)	$	3,337
Cross-currency swaps ⁽²⁾	Net Investment	Other income (expense), net	18,152			10,278			—
Cross-currency swaps ⁽³⁾	Cash Flow	Other income (expense), net	(21,656		)	(4,670		)	—
Foreign exchange contracts ⁽⁴⁾	Cash Flow	Cost of sales	(13,422		)	3,111			—



			Fiscal Year Ended March 31, 2019
			Gain (Loss)
Derivative Instrument	Hedge Designation	Location of Gain (Loss) Recognized in Statements of Operations	Recognized in AOCI			Reclassified from AOCI to Income			Recorded Directly to Income
Cross-currency swaps ⁽¹⁾	Fair Value	Other income (expense), net	$	(6,383	)	$	(4,134	)	$	6,034
Cross-currency swaps ⁽²⁾	Net Investment	Other income (expense), net	5,009			4,230			—
Foreign exchange contracts ⁽⁴⁾	Cash Flow	Cost of sales	(1,286		)	(698		)	—



			Fiscal Year Ended March 31, 2018
			Gain (Loss)
Derivative Instrument	Hedge Designation	Location of Gain (Loss) Recognized in Statements of Operations	Recognized in AOCI		Reclassified from AOCI to Income		Recorded Directly to Income
Cross-currency swaps ⁽¹⁾	Fair Value	Other income (expense), net	$	—	$	—	$	—
Cross-currency swaps ⁽²⁾	Net Investment	Other income (expense), net	—		—		—
Foreign exchange contracts ⁽⁴⁾	Cash Flow	Cost of sales	667		2,420		—

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⁽¹⁾ Amounts recognized in AOCI represent the change in the fair value of the derivative instruments related to the excluded components. Amounts reclassified from AOCI to income represent amortization of excluded components based upon the instruments' periodic coupons. Amounts recorded directly to income represent the change in the fair value of the derivative instruments related to the effective portion of the qualifying hedge.

⁽²⁾ Amounts recognized in AOCI represent the total change in the fair value of the derivative instrument. Amounts recorded to AOCI are recorded within foreign currency translation. Amounts reclassified from AOCI to income represent amortization of excluded components based on the instrument's periodic coupon.

⁽³⁾ Amounts recognized in AOCI represent the total change in the fair value of the derivative instruments. Amounts reclassified from AOCI to income represent the change in the fair value of the derivative instruments related of the effective portion of the qualifying hedges, as well as amortization of the excluded components based upon the instruments' periodic coupons. For the fiscal year ended March 31, 2020, the amount reclassified to income from AOCI includes $2.6 million in gains related to the effective portion of the hedges and $7.3 million in losses related to amortization of the excluded components.

⁽⁴⁾ Amounts recognized in AOCI represent the total change in the fair value of the derivative instruments. Amounts reclassified from AOCI to income represent the change in the fair value of the derivative instruments pertaining to the settlement of the qualifying hedged item (effective portion).

Schedule of Fair Value and Cash Flow Hedges Included in Earnings [Table Text Block]

The following tables present the total amount of each income and expense line item presented in the Consolidated Statements of Operations in which the results of fair value and cash flow hedges are recorded and the effects of those hedging strategies on income (amounts in thousands):



	Cost of sales
	Fiscal Year Ended March 31,
	2020			2019			2018
Total income (expense) in Statements of Operations	$	(840,066	)	$	(924,276	)	$	(860,744	)

Cash flow hedging impact
Foreign exchange contracts:
Gain (loss) reclassified from AOCI to income⁽¹⁾	3,111			(698		)	2,420



	Other income (expense), net
	Fiscal Year Ended March 31,
	2020			2019			2018
Total income (expense) in Statements of Operations	$	4,356		$	(4,513	)	$	(14,692	)

Fair value hedging impact
Cross-currency swaps:
Gain (loss) on hedged item	(3,337		)	(6,034		)	—
Gain (loss) on derivative instrument ⁽²⁾	1,715			1,900			—

Cash flow hedging impact
Cross-currency swaps:
Gain (loss) reclassified from AOCI to income ⁽³⁾	(4,670		)	—			—

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⁽¹⁾Net losses of $11.0 million are expected to be reclassified from AOCI into income within the next 12 months.

⁽²⁾ Amounts recognized in income include the change in the fair value of the derivative instruments related to the effective portion of the qualifying hedges and amortization of the excluded components.

⁽³⁾

Schedule of Derivative Instruments in Statement of Financial Position, Fair Value

The balance sheet classifications and fair value of derivative instruments designated as hedges as of March 31, 2020 and 2019 are as follows (amounts in thousands):



		Fair Value of Derivative Instruments
		March 31, 2020						March 31, 2019
	Balance Sheet Location	As Presented		Offset		Gross		As Presented		Offset		Gross
Derivative assets
Cross-currency swaps	Other assets	$	—	$	10,366	$	10,366	$	3,485	$	—	$	3,485
Foreign exchange contracts	Prepaid and other current assets	—		—		—		564		645		1,209

Derivative liabilities
Cross-currency swaps	Other non-current obligations	4,318		10,366		14,684		—		—		—
Foreign exchange contracts	Accrued expenses	13,992		—		13,992		—		645		645
Foreign exchange contracts	Other non-current obligations	1,977		—		1,977		—		—		—