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INCOME TAXES (Tables)

12 Months Ended

Mar. 31, 2024

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, 2024, 2023, and 2022 is comprised of the following approximate values:

			Year Ended March 31,
			2024						2023						2022
Current:
Federal			$	40,838					$	66,529					$	134,054
State and local			16,116						4,819						58,568
Foreign			32,814						1,875						44,060
Subtotal			89,768						73,223						236,682
Deferred:
Federal			14,116						1,605						(52,088)
State and local			3,498						1,092						(18,348)
Foreign			2,856						(6,143)						(632)
Subtotal			20,470						(3,446)						(71,068)
Total			$	110,238					$	69,777					$	165,614

Effective Income Tax Rate Reconciliation

The provision for income taxes on operations for the years ended March 31, 2024, 2023, and 2022 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,
			2024												2023												2022
Federal income tax provision computed at statutory rate			$	82,013					21.0		%				$	68,040					21.0		%				$	126,826					21.0		%
State and local taxes, net of federal tax effect			20,027						5.1		%				16,609						5.1		%				31,559						5.2		%
Tax impact from foreign operations			7,922						2.0		%				(5,040)						(1.5)		%				3,990						0.7		%
Nondeductible expenses			9,133						2.4		%				9,396						2.9		%				10,654						1.8		%
Stock compensation			(7,468)						(1.9)		%				(8,044)						(2.5)		%				(7,421)						(1.2)		%
Uncertain tax positions, true-up items, and other			(1,389)						(0.4)		%				(11,184)						(3.5)		%				6						—		%
Total			$	110,238					28.2		%				$	69,777					21.5		%				$	165,614					27.4		%

Schedule of Deferred Tax Assets and Liabilities

The deferred income taxes on the accompanying Consolidated Balance Sheets as of March 31, 2024 and March 31, 2023, comprise the following:

			March 31, 2024						March 31, 2023
Deferred tax assets:
Deferred compensation expense/accrued bonus			$	109,416					$	115,584
Allowance for credit losses			1,243						1,641
Accounts receivable and work in progress			9,577						9,978
US foreign tax credits			2,313						2,443
Operating lease liabilities			87,219						81,153
Non US			43,434						31,557
Other, net			6,051						8,735
Total deferred tax assets			259,253						251,091
Deferred tax asset valuation allowance			(12,386)						(3,376)
Total deferred tax assets			246,867						247,715
Deferred tax liabilities:
Intangibles			(71,575)						(70,657)
Operating lease right-of-use assets			(69,978)						(72,218)
Other, net			(22,755)						(443)
Total deferred tax liabilities			(164,308)						(143,318)
Net deferred tax assets			$	82,559					$	104,397

Schedule of Unrecognized Tax Benefits Roll Forward

A reconciliation of the unrecognized tax position as of March 31, 2024 and March 31, 2023 is as follows:

			March 31, 2024						March 31, 2023
Unrecognized tax position at the beginning of the year			$	14,825					$	18,654
Increase related to prior year tax positions			2,233						4,102
Decrease related to prior year tax positions			(1,258)						(7,931)
Unrecognized tax position at the end of the year			$	15,800					$	14,825

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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 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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