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INCOME TAXES (Tables)

12 Months Ended

Mar. 31, 2021

Income Tax Disclosure [Abstract]

Provision (Benefit) for Income Taxes on Operations

The provision (benefit) for income taxes on operations for the years ended March 31, 2021, 2020, and 2019 is comprised of the following approximate values:

			Year Ended March 31,
			2021						2020						2019
Current:
Federal			$	71,832					$	39,796					$	47,101
State and local			27,230						10,217						22,094
Foreign			18,632						11,495						6,706
Subtotal			117,694						61,508						75,901
Deferred:
Federal			(16,244)						(6,317)						(10,665)
State and local			(4,543)						(2,104)						(1,997)
Foreign			(450)						(1,233)						1,975
Subtotal			(21,237)						(9,654)						(10,687)
Total			$	96,457					$	51,854					$	65,214

Effective Income Tax Rate Reconciliation

The provision for income taxes on operations for the years ended March 31, 2021, 2020, and 2019 is reconciled to the income taxes computed at the statutory federal income tax rate (computed by applying the federal corporate rate of 21% to consolidated operating income before provision for income taxes) as follows:

			Year Ended March 31,
			2021												2020												2019
Federal income tax provision computed at statutory rate			$	85,937					21.0		%				$	49,486					21.0		%				$	47,107					21.0		%
State and local taxes, net of federal tax effect			18,877						4.6		%				10,819						4.6		%				12,944						5.8		%
Tax impact from foreign operations			(1,036)						(0.2)		%				(1,083)						(0.5)		%				(2,098)						(0.9)		%
Nondeductible expenses			6,004						1.5		%				4,721						2.0		%				3,797						1.7		%
Stock compensation			(13,349)						(3.3)		%				(7,269)						(3.1)		%				(8)						—		%
Uncertain tax positions, true-up items, and other			24						—		%				(4,820)						(2.0)		%				2,159						0.9		%
Enactment of the Tax Act			—						—		%				—						—		%				1,313						0.6		%
Total			$	96,457					23.6		%				$	51,854					22.0		%				$	65,214					29.1		%

Schedule of Deferred Tax Assets and Liabilities

The deferred income taxes on the accompanying consolidated balance sheets as of March 31, 2021 and March 31, 2020, comprise the following:

			March 31, 2021						March 31, 2020
Deferred tax assets:
Deferred compensation expense/accrued bonus			$	75,140					$	53,397
Allowance for credit losses			1,305						1,078
Accounts receivable and work in progress			2,084						—
US foreign tax credits			2,475						2,478
Operating lease liabilities			31,499						27,977
Other, net			15,686						15,497
Total deferred tax assets			128,189						100,427
Deferred tax asset valuation allowance			(9,783)						(11,097)
Total deferred tax assets			118,406						89,330
Deferred tax liabilities:
Intangibles			(49,913)						(49,166)
Accounts receivable and work in progress			—						(561)
Operating lease right-of-use assets			(27,856)						(25,131)
Other, net			(12,358)						(8,629)
Total deferred tax liabilities			(90,127)						(83,487)
Net deferred tax assets/(liabilities)			$	28,279					$	5,843

Schedule of Unrecognized Tax Benefits Roll Forward

A reconciliation of the unrecognized tax position as of March 31, 2021 and March 31, 2020 is as follows:

			March 31, 2021						March 31, 2020
Unrecognized tax position at the beginning of the year			$	9,947					$	4,960
Increase/(decrease) related to prior year tax positions			2,979						(230)
Increases related to tax positions taken in the current year			1,740						5,217
Unrecognized tax position at the end of the year			$	14,666					$	9,947

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Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years.

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Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets.

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Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations.

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Tabular disclosure of the change in unrecognized tax benefits.

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