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DERIVATIVE INSTRUMENTS | 12 Months Ended
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Mar. 31, 2025
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
DERIVATIVE INSTRUMENTS | DERIVATIVE INSTRUMENTS As of March 31, 2025, the Company has the following derivative contracts recorded at fair value in the consolidated balance sheets:
| Designated Derivative Contracts |  | Non-Designated Derivative Contracts |  | Total
Notional value | $ | 367,695 |  |  | $ | 14,018 |  |  | $ | 381,713 |
Fair value recorded in other current assets | 2,163 |  |  | 75 |  |  | 2,238 |
Fair value recorded in other accrued expenses | (64) |  |  | — |  |  | (64) |
As of March 31, 2025, five counterparties hold the Company’s outstanding derivative contracts, all of which are expected to mature in the next twelve months. As of March 31, 2024, the Company had no outstanding derivative contracts. The Company settled derivative contracts with notional values as follows:
| Years Ended March 31,
| 2025 |  | 2024 |  | 2023
Designated Derivative Contracts | $ | 258,040 |  |  | $ | 179,528 |  |  | $ | 96,345 |
Non-Designated Derivative Contracts | 18,565 |  |  | — |  |  | 31,044 |
Total | $ | 276,605 |  |  | $ | 179,528 |  |  | $ | 127,389 |
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,
| 2025 |  | 2024 |  | 2023
Gain recorded in OCI | $ | 4,387 |  |  | $ | 4,090 |  |  | $ | 1,504 |
Reclassifications from AOCL into net sales | (2,288) |  |  | (4,090) |  |  | (1,504) |
Income tax expense in OCI | (515) |  |  | — |  |  | — |
Total | $ | 1,584 |  |  | $ | — |  |  | $ | — |
The non-performance risk of the Company and its counterparties did not have a material impact on the fair value of its derivative contracts. As of March 31, 2025, the amount of unrealized gains on derivative contracts recorded in AOCL is expected to be reclassified into net sales within the next twelve months. Refer to Note 10, “Stockholders’ Equity,” for further information on the components of AOCL.

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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://www.xbrl.org/2003/role/disclosureRef -Topic 815 -SubTopic 40 -Name Accounting Standards Codification -Section 50 -Paragraph 5 -Subparagraph (f) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480237/815-40-50-5 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 815 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 5C -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-5C Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 815 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/815/tableOfContent + Details
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