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Derivatives | 12 Months Ended
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Mar. 31, 2026
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
Derivatives | Derivatives The Company utilizes interest rate swaps to manage interest rate risk related to its variable rate debt. The Company’s objectives in using these interest rate swaps, which were designated as cash flow hedges, are to manage its exposure to interest rate movements and reduce volatility of interest expense. The Company’s outstanding interest rate swaps have a total notional amount of $350 million as of March 31, 2026 and mature from June 30, 2026 to June 30, 2027. The variable-to-fixed interest rate swaps effectively convert a portion of the variable rate debt into fixed interest rate debt. The changes in the fair value of the Company’s interest rate swaps are recorded in Accumulated Other Comprehensive Income (Loss) (“AOCI”), net of taxes, and are subsequently reclassified into interest expense, net in the period that the hedged forecasted interest payments are made on the Company's variable-rate debt. See Note 10, “Debt,” to the consolidated financial statements for additional information on interest payments related to the interest rate swaps, and Note 17, “Investments and Fair Value Measurements,” to the consolidated financial statements for additional information on the fair values and location of the interest rate swaps on the consolidated balance sheets. Over the next 12 months, the Company estimates that $1 million will be reclassified as an increase to interest expense. Cash flows associated with periodic settlements of interest rate swaps are classified as operating activities in the consolidated statement of cash flows. The Company is subject to counterparty risk in connection with its interest rate swap contracts. Credit risk related to a derivative financial instrument represents the possibility that the counterparty will not fulfill the terms of the contract. The Company mitigates this credit risk by entering into agreements with credit-worthy counterparties and regularly reviews its credit exposure and the creditworthiness of the counterparties.

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