XML 54 R39.htm IDEA: XBRL DOCUMENT v3.25.1

INCOME TAXES (Tables)

12 Months Ended

Mar. 31, 2025

Income Tax Disclosure [Abstract]

Provision (Benefit) for Income Taxes on Operations

The provision for income taxes on operations for the years ended March 31, 2025, 2024, and 2023 is comprised of the following approximate values:

			Year Ended March 31,
			2025						2024						2023
Current:
Federal			$	73,724					$	40,838					$	66,529
State and local			15,065						16,116						4,819
Foreign			43,792						32,814						1,875
Subtotal			132,581						89,768						73,223
Deferred:
Federal			(7,593)						14,116						1,605
State and local			1,114						3,498						1,092
Foreign			5,522						2,856						(6,143)
Subtotal			(957)						20,470						(3,446)
Total			$	131,624					$	110,238					$	69,777

Effective Income Tax Rate Reconciliation

The provision for income taxes on operations for the years ended March 31, 2025, 2024, and 2023 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,
			2025												2024												2023
Federal income tax provision computed at statutory rate			$	111,580					21.0		%				$	82,013					21.0		%				$	68,040					21.0		%
State and local taxes, net of federal tax effect			21,297						4.0		%				20,027						5.1		%				16,609						5.1		%
Tax impact from foreign operations			12,535						2.4		%				7,922						2.0		%				(5,040)						(1.5)		%
Nondeductible expenses			14,313						2.7		%				9,133						2.4		%				9,396						2.9		%
Stock compensation			(20,387)						(3.8)		%				(7,468)						(1.9)		%				(8,044)						(2.5)		%
Uncertain tax positions, true-up items, and other			(7,714)						(1.5)		%				(1,389)						(0.4)		%				(11,184)						(3.5)		%
Total			$	131,624					24.8		%				$	110,238					28.2		%				$	69,777					21.5		%

Schedule of Deferred Tax Assets and Liabilities

The deferred income taxes on the accompanying Consolidated Balance Sheets as of March 31, 2025 and March 31, 2024, comprise the following:

			March 31, 2025						March 31, 2024
Deferred tax assets:
Deferred compensation expense/accrued bonus			$	125,428					$	109,416
Allowance for credit losses			2,246						1,243
Accounts receivable and work in progress			950						9,577
US foreign tax credits			2,365						2,313
Operating lease liabilities			85,088						87,219
Non-US			40,639						43,434
Other, net			2,431						6,051
Total deferred tax assets			259,147						259,253
Deferred tax asset valuation allowance			(13,415)						(12,386)
Total deferred tax assets			245,732						246,867
Deferred tax liabilities:
Intangibles			(69,335)						(71,575)
Operating lease right-of-use assets			(67,901)						(69,978)
Other, net			(24,504)						(22,755)
Total deferred tax liabilities			(161,740)						(164,308)
Net deferred tax assets			$	83,992					$	82,559

Schedule of Unrecognized Tax Benefits Roll Forward

A reconciliation of the unrecognized tax position as of March 31, 2025 and March 31, 2024 is as follows:

			March 31, 2025						March 31, 2024
Unrecognized tax position at the beginning of the year			$	15,800					$	14,825
Increase related to prior year tax positions			—						2,233
Decrease related to prior year tax positions			(15,471)						(1,258)
Unrecognized tax position at the end of the year			$	329					$	15,800

X

- References

No definition available.

+ Details

Name:	us-gaap_IncomeTaxDisclosureAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- Definition

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.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 9
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-9

+ Details

Name:	us-gaap_ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

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.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-2

+ Details

Name:	us-gaap_ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

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.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 231
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482663/740-10-55-231

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12A
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-12A

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-12

+ Details

Name:	us-gaap_ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the change in unrecognized tax benefits.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 217
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482663/740-10-55-217

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 15A
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-15A

+ Details

Name:	us-gaap_ScheduleOfUnrecognizedTaxBenefitsRollForwardTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration