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DERIVATIVE INSTRUMENTS | 12 Months Ended
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Mar. 31, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
DERIVATIVE INSTRUMENTS | DERIVATIVE INSTRUMENTS As of March 31, 2024, and 2023, the Company had no outstanding derivative contracts. The Company settled derivative contracts with notional values as follows:
| Years Ended March 31,
| 2024 |  | 2023 |  | 2022
Designated Derivative Contracts | $ | 179,528 |  |  | $ | 96,345 |  |  | $ | 110,430 |
Non-Designated Derivative Contracts | — |  |  | 31,044 |  |  | 38,659 |
Total | $ | 179,528 |  |  | $ | 127,389 |  |  | $ | 149,089 |
The following table summarizes the effect of Designated Derivative Contracts on unrealized gains or losses recorded in the consolidated statements of comprehensive income for changes in AOCL, net of tax:
| Years Ended March 31,
| 2024 |  | 2023 |  | 2022
Gain recorded in OCI | $ | 4,090 |  |  | $ | 1,504 |  |  | $ | 4,161 |
Reclassifications from AOCL into net sales | (4,090) |  |  | (1,504) |  |  | (4,161) |
Total | $ | — |  |  | $ | — |  |  | $ | — |
Refer to Note 10, “Stockholders’ Equity,” for further information on the components of AOCL. Subsequent to March 31, 2024, through May 9, 2024, the Company entered into no Non-Designated Derivative Contracts, but did enter into Designated Derivative Contracts with notional values totaling $27,759, which are expected to mature over the next 11 months. As of May 9, 2024, the Company’s outstanding hedging contracts were held by an aggregate of two counterparties.

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