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INCOME TAXES - (Tables) | 12 Months Ended
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Mar. 31, 2024
Income Tax Disclosure [Abstract] |
Schedule of Income Before Income Taxes | Components of income before income taxes recorded in the consolidated statements of comprehensive income were as follows:
| Years Ended March 31,
| 2024 |  | 2023 |  | 2022
Domestic (1) | $ | 688,981 |  |  | $ | 467,231 |  |  | $ | 396,368 |
Foreign | 289,960 |  |  | 198,851 |  |  | 168,270 |
Total | $ | 978,941 |  |  | $ | 666,082 |  |  | $ | 564,638 |
(1) Domestic income before income taxes for the years ended March 31, 2024, 2023, and 2022 is presented net of intercompany dividends (or repatriated cash) of $250,000, $0, and $120,000, respectively.
Schedule of Components of Income Tax Expense (Benefit) | Components of income tax expense (benefit) recorded in the consolidated statements of comprehensive income were as follows:
| Years Ended March 31,
| 2024 |  | 2023 |  | 2022
Current |  |  |  |  |
Federal | $ | 146,939 |  |  | $ | 115,708 |  |  | $ | 95,012 |
State | 32,065 |  |  | 18,418 |  |  | 22,544 |
Foreign | 41,884 |  |  | 24,853 |  |  | 22,929 |
Total | 220,888 |  |  | 158,979 |  |  | 140,485 |
Deferred |  |  |  |  |
Federal | (3,113) |  |  | 4,830 |  |  | (17,316) |
State | (2,336) |  |  | 382 |  |  | (4,827) |
Foreign | 3,939 |  |  | (14,931) |  |  | (5,653) |
Total | (1,510) |  |  | (9,719) |  |  | (27,796) |
Total | $ | 219,378 |  |  | $ | 149,260 |  |  | $ | 112,689 |
Schedule of Income Tax Expense Reconciliation | Income tax expense (benefit) differed from that obtained by applying the statutory federal income tax rate to income before income taxes as follows:
| Years Ended March 31,
| 2024 |  | 2023 |  | 2022
Computed expected income taxes | $ | 205,578 |  |  | $ | 139,882 |  |  | $ | 118,574 |
State income taxes, net of federal income tax benefit | 32,023 |  |  | 15,881 |  |  | 16,896 |
Foreign rate differential | (15,976) |  |  | (21,420) |  |  | (22,188) |
Gross unrecognized tax benefits | 1,301 |  |  | 20,122 |  |  | (491) |
Intercompany transfers of assets | (1,817) |  |  | (13,072) |  |  | (219) |
US tax on foreign earnings | 4,750 |  |  | 7,672 |  |  | 4,325 |
Other | (6,481) |  |  | 195 |  |  | (4,208) |
Total | $ | 219,378 |  |  | $ | 149,260 |  |  | $ | 112,689 |
Schedule of Deferred Tax Assets and Liabilities | The tax effects of temporary differences that give rise to significant portions of deferred tax assets and deferred tax liabilities are as follows:
| As of March 31,
| 2024 |  | 2023
Deferred tax assets |  |  |
Amortization of intangible assets | $ | 11,416 |  |  | $ | 16,788 |
Operating lease liabilities | 38,890 |  |  | 38,673 |
Uniform capitalization adjustment to inventory | 11,822 |  |  | 13,823 |
State related taxes and credit carryforwards | 1,834 |  |  | — |
Reserves and accruals | 65,817 |  |  | 48,949 |
Net operating loss carry-forwards | 5,981 |  |  | 3,477 |
Deferred revenue | 880 |  |  | 7,924 |
Other | 2,284 |  |  | 1,070 |
Gross deferred tax assets | 138,924 |  |  | 130,704 |
Valuation allowances | (1,259) |  |  | (1,224) |
Total | 137,665 |  |  | 129,480 |
Deferred tax liabilities |  |  |
Prepaid expenses | (7,060) |  |  | (6,930) |
Operating lease assets | (29,667) |  |  | (31,250) |
Depreciation of property and equipment | (28,354) |  |  | (18,708) |
Total | (65,081) |  |  | (56,888) |
Deferred tax assets, net | $ | 72,584 |  |  | $ | 72,592 |
Summary of Income Tax Contingencies | A reconciliation of the beginning and ending amounts of total gross unrecognized tax benefits are as follows:
| Years Ended March 31,
| 2024 |  | 2023 |  | 2022
Beginning balance | $ | 44,901 |  |  | $ | 24,779 |  |  | $ | 25,270 |
Gross increase related to current year tax positions | 4,318 |  |  | 6,865 |  |  | 2,520 |
Gross increase related to prior year tax positions | 4,629 |  |  | 16,243 |  |  | 2,750 |
Gross decrease related to prior year tax positions | (4,698) |  |  | (456) |  |  | (243) |
Settlements | (582) |  |  | — |  |  | (795) |
Lapse of statute of limitations | (2,948) |  |  | (2,530) |  |  | (4,723) |
Ending balance | $ | 45,620 |  |  | $ | 44,901 |  |  | $ | 24,779 |
Total gross unrecognized tax benefits recorded in the consolidated balance sheets are as follows:
| As of March 31,
| 2024 |  | 2023
Long-term asset |  |  |
Deferred tax assets, net | $ | — |  |  | $ | 3,145 |
Current liability |  |  |
Income tax payable | 3,998 |  |  | 1,829 |
Long-term liability |  |  |
Income tax liability | 41,622 |  |  | 39,927 |
Total | $ | 45,620 |  |  | $ | 44,901 |

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