Property, Plant and Equipment

12 Months Ended

Mar. 31, 2023

Notes To Financial Statements [Abstract]

5.PROPERTY, PLANT, AND EQUIPMENT

Information related to the major categories of our depreciable assets is as follows:


March 31,	2023		2022
Land and land improvements (1)	$	84,313	$	84,015
Buildings and leasehold improvements	691,933		654,851
Machinery and equipment	994,188		903,649
Information systems	247,873		222,620
Radioisotope	637,920		597,641
Construction in progress (1)	478,316		356,013
Total property, plant, and equipment	3,134,543		2,818,789
Less: accumulated depreciation and depletion	(1,429,031)		(1,266,213)
Property, plant, and equipment, net	$	1,705,512	$	1,552,576

(1) Land is not depreciated. Construction in progress is not depreciated until placed in service.

Depreciation and depletion expense were $173,145, $184,406 and $132,725, for the years ended March 31, 2023, 2022, and 2021, respectively.

Asset Retirement Obligations

We provide contract sterilization services including Gamma irradiation which utilizes cobalt-60 in the form of cobalt pencils. We have incurred asset retirement obligations (ARO) associated with the future disposal of these assets once depleted. Recognition of ARO includes: the present value of a liability and offsetting asset, the subsequent accretion of that liability and depletion of the asset, and the periodic review of the ARO liability estimates and discount rates used in the analysis.

The following table summarizes the activity in the liability for asset retirement obligations.


	Asset Retirement Obligations
Balance at March 31, 2021	$	13,330
Liabilities incurred during the period	86
Liabilities settled during the period	(3)
Accretion expense and change in estimate	146
Foreign currency and other	(16)
Balance at March 31, 2022	$	13,543
Liabilities incurred during the period	86
Liabilities settled during the period	(625)
Accretion expense and change in estimate	104
Foreign currency and other	23
Balance at March 31, 2023	$	13,131