Derivative Instruments

12 Months Ended

Mar. 31, 2022

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Derivative Instruments

Derivative Instruments

As of March 31, 2022, and 2021, the Company has no outstanding derivative contracts, however, settled derivative contracts with notional values are as follows:

	Years Ended March 31,
	2022		2021
Designated Derivative Contracts	$	110,430	$	68,241
Non-Designated Derivative Contracts	38,659		18,909
Total	$	149,089	$	87,150

The following table summarizes the effect of Designated Derivative Contracts and the related income tax effects of unrealized gains or losses recorded in the consolidated statements of comprehensive income for changes in AOCL:

	Years Ended March 31,
	2022		2021		2020
Gain (loss) recorded in Other comprehensive income	$	4,161	$	(1,223)	$	1,516
Reclassifications from Accumulated other comprehensive loss into net sales	(4,161)		1,223		(1,516)
Total	$	—	$	—	$	—

The following table summarizes the effect of Non-Designated Derivative Contracts recorded in the consolidated statements of comprehensive income:

	Years Ended March 31,
	2022		2021		2020
Gain recorded in SG&A expenses	$	611	$	267	$	328