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Derivative Instruments | 12 Months Ended
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Mar. 31, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
Derivative Instruments | Derivative Instruments As of March 31, 2023, and 2022, the Company has no outstanding derivative contracts, however, settled derivative contracts with notional values are as follows:
| Years Ended March 31,
| 2023 |  | 2022
Designated Derivative Contracts | $ | 96,345 |  |  | $ | 110,430 |
Non-Designated Derivative Contracts | 31,044 |  |  | 38,659 |
Total | $ | 127,389 |  |  | $ | 149,089 |
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,
| 2023 |  | 2022 |  | 2021
Gain (Loss) recorded in Other comprehensive income | $ | 1,504 |  |  | $ | 4,161 |  |  | $ | (1,223) |
Reclassifications from Accumulated other comprehensive loss into net sales | (1,504) |  |  | (4,161) |  |  | 1,223 |
Total | $ | — |  |  | $ | — |  |  | $ | — |
The following table summarizes the effect of Non-Designated Derivative Contracts recorded in the consolidated statements of comprehensive income:
| Years Ended March 31,
| 2023 |  | 2022 |  | 2021
Gain recorded in SG&A expenses | $ | 1,518 |  |  | $ | 611 |  |  | $ | 267 |
Subsequent to March 31, 2023, through May 11, 2023, the Company entered into no Non-Designated Derivative Contracts, but did enter into Designated Derivative Contracts with notional values totaling $127,512, respectively, which are expected to mature over the next 12 months. As of May 11, 2023, the Company’s outstanding hedging contracts were held by an aggregate of three counterparties.

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- Definition The entire disclosure for derivative instruments and hedging activities including, but not limited to, risk management strategies, non-hedging derivative instruments, assets, liabilities, revenue and expenses, and methodologies and assumptions used in determining the amounts. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -URI https://asc.fasb.org/topic&trid=2229140 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 40 -Section 50 -Paragraph 5 -Subparagraph (f) -URI https://asc.fasb.org/extlink&oid=126731327&loc=d3e90205-114008 + Details
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