XML 99 R48.htm IDEA: XBRL DOCUMENT v3.23.1
Fair Value Measurements (Tables)
 12 Months Ended
Mar. 31, 2023
Fair Value Disclosures [Abstract]  
Summary of Fair Value Measurements
The financial instruments measured at fair value in the accompanying consolidated balance sheets consist of the following:
Recurring Fair Value Measurements
as of March 31, 2023
Level 1Level 2Level 3Total
Assets:
Current derivative instruments (2)
$— $11,245 $— $11,245 
Long-term derivative instruments (2)
— 3,530 — 3,530 
Long term deferred compensation plan asset (1)
20,090 — — 20,090 
Total Assets$20,090 $14,775 $— $34,865 
Liabilities:
Long-term derivative instruments (2)
— 1,369 — 1,369 
Long term deferred compensation plan liability (1)
20,090 — — 20,090 
Total Liabilities$20,090 $1,369 $— $21,459 
Recurring Fair Value Measurements
as of March 31, 2022
Level 1Level 2Level 3Total
Assets:
Long term deferred compensation plan asset (1)
$16,512 $— $— $16,512 
Long-term derivative instruments (2)
— 4,088 — 4,088 
Total Assets$16,512 $4,088 $— $20,600 
Liabilities:
Current derivative instruments (2)
$— $4,324 $— $4,324 
Long-term derivative instruments (2)
— 39 — 39 
Long term deferred compensation plan liability (1)
16,512 — — 16,512 
Total liabilities$16,512 $4,363 $— $20,875 
(1) Investments in this category consist of primarily of mutual funds whose fair values are determined by reference to the quoted market price per unit in active markets multiplied by the number of units held without consideration of transaction costs. These assets represent investments held in a consolidated trust to fund the Company's non-qualified deferred compensation plan and are recorded in other long-term assets and other long-term liabilities on our consolidated balance sheets.
(2) The Company’s interest rate swaps are considered over-the-counter derivatives and fair value is estimated based on the present value of future cash flows using a model-derived valuation that uses Level 2 observable inputs such as interest rate yield curves. See Note 11, “Derivatives,” to the consolidated financial statements for further discussion on the Company’s derivative instruments designated as cash flow hedges.
Schedule of Carrying Values and Estimated Fair Values of Debt Instruments The carrying amount and estimated fair value of debt consists of the following:
March 31, 2023March 31, 2022
Carrying AmountEstimated Fair ValueCarrying AmountEstimated Fair Value
New Term Loan A$1,629,375 $1,600,861 $— $— 
Existing Term Loan A Loans— — 1,241,398 1,218,122 
Existing Term Loan B Loans— — 380,321 379,461 
3.88% Senior Notes due 2028
700,000 638,540 700,000 676,228 
4.00% Senior Notes due 2029
500,000 451,930 500,000 488,335