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INCOME TAXES (Tables)

12 Months Ended

Mar. 31, 2023

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, 2023, 2022, and 2021 is comprised of the following approximate values:

			Year Ended March 31,
			2023						2022						2021
Current:
Federal			$	66,529					$	134,054					$	71,832
State and local			4,819						58,568						27,230
Foreign			1,875						44,060						18,632
Subtotal			73,223						236,682						117,694
Deferred:
Federal			1,605						(52,088)						(16,244)
State and local			1,092						(18,348)						(4,543)
Foreign			(6,143)						(632)						(450)
Subtotal			(3,446)						(71,068)						(21,237)
Total			$	69,777					$	165,614					$	96,457

Effective Income Tax Rate Reconciliation

The provision for income taxes on operations for the years ended March 31, 2023, 2022, and 2021 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,
			2023												2022												2021
Federal income tax provision computed at statutory rate			$	68,040					21.0		%				$	126,826					21.0		%				$	85,937					21.0		%
State and local taxes, net of federal tax effect			16,609						5.1		%				31,559						5.2		%				18,877						4.6		%
Tax impact from foreign operations			(5,040)						(1.5)		%				3,990						0.7		%				(1,036)						(0.2)		%
Nondeductible expenses			9,396						2.9		%				10,654						1.8		%				6,004						1.5		%
Stock compensation			(8,044)						(2.5)		%				(7,421)						(1.2)		%				(13,349)						(3.3)		%
Uncertain tax positions, true-up items, and other			(11,184)						(3.5)		%				6						—		%				24						—		%
Total			$	69,777					21.5		%				$	165,614					27.4		%				$	96,457					23.6		%

Schedule of Deferred Tax Assets and Liabilities

The deferred income taxes on the accompanying Consolidated Balance Sheets as of March 31, 2023 and March 31, 2022, comprise the following:

			March 31, 2023						March 31, 2022
Deferred tax assets:
Deferred compensation expense/accrued bonus			$	115,584					$	126,249
Allowance for credit losses			1,641						1,612
Accounts receivable and work in progress			9,978						6,814
US foreign tax credits			2,443						2,400
Operating lease liabilities			81,153						25,947
Non US			31,557						32,374
Other, net			8,735						10,925
Total deferred tax assets			251,091						206,321
Deferred tax asset valuation allowance			(3,376)						(9,234)
Total deferred tax assets			247,715						197,087
Deferred tax liabilities:
Intangibles			(70,657)						(72,983)
Operating lease right-of-use assets			(72,218)						(21,907)
Other, net			(443)						(7,707)
Total deferred tax liabilities			(143,318)						(102,597)
Net deferred tax assets			$	104,397					$	94,490

Schedule of Unrecognized Tax Benefits Roll Forward

A reconciliation of the unrecognized tax position as of March 31, 2023 and March 31, 2022 is as follows:

			March 31, 2023						March 31, 2022
Unrecognized tax position at the beginning of the year			$	18,654					$	14,666
Increase related to prior year tax positions			4,102						10,054
Decrease related to prior year tax positions			(7,931)						(6,395)
Increase related to tax positions taken in the current year			—						329
Unrecognized tax position at the end of the year			$	14,825					$	18,654

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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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