|
Retirement Plans (Tables)
|
12 Months Ended |
|
Mar. 31, 2013
|
| Components Of Net Periodic Pension Cost |
Net periodic
pension cost for fiscal 2013, 2012 and 2011, includes the following
components:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
United States
Plans |
|
|
International
Plans |
|
| |
|
Fiscal year ended March 31, |
|
|
Fiscal year ended
March 31, |
|
| |
|
2013 |
|
|
2012 |
|
|
2011 |
|
|
2013 |
|
|
2012 |
|
|
2011 |
|
|
Service cost
|
|
$ |
349 |
|
|
$ |
285 |
|
|
$ |
250 |
|
|
$ |
679 |
|
|
$ |
645 |
|
|
$ |
603 |
|
|
Interest cost
|
|
|
649 |
|
|
|
668 |
|
|
|
646 |
|
|
|
2,377 |
|
|
|
2,504 |
|
|
|
2,503 |
|
|
Expected return on plan
assets
|
|
|
(756 |
) |
|
|
(706 |
) |
|
|
(624 |
) |
|
|
(1,851 |
) |
|
|
(1,787 |
) |
|
|
(1,615 |
) |
|
Amortization and
deferral
|
|
|
393 |
|
|
|
238 |
|
|
|
248 |
|
|
|
209 |
|
|
|
32 |
|
|
|
53 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net periodic benefit
cost
|
|
$ |
635 |
|
|
$ |
485 |
|
|
$ |
520 |
|
|
$ |
1,414 |
|
|
$ |
1,394 |
|
|
$ |
1,544 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Summary Of Change In Projected Benefit Obligation |
The following
table sets forth a reconciliation of the related benefit
obligation, plan assets, and accrued benefit costs related to the
pension benefits provided by the Company for those employees
covered by defined benefit plans:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
United States Plans |
|
|
International Plans |
|
| |
|
March 31, |
|
|
March 31, |
|
| |
|
2013 |
|
|
2012 |
|
|
2013 |
|
|
2012 |
|
|
Change in projected
benefit obligation
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Benefit obligation at the
beginning of the period
|
|
$ |
14,040 |
|
|
$ |
11,903 |
|
|
$ |
53,895 |
|
|
$ |
48,881 |
|
|
Service cost
|
|
|
349 |
|
|
|
285 |
|
|
|
679 |
|
|
|
645 |
|
|
Interest cost
|
|
|
649 |
|
|
|
668 |
|
|
|
2,377 |
|
|
|
2,504 |
|
|
Benefits paid, inclusive of
plan expenses
|
|
|
(664 |
) |
|
|
(615 |
) |
|
|
(1,667 |
) |
|
|
(1,709 |
) |
|
Plan settlements
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
(40 |
) |
|
Experience loss
|
|
|
1,537 |
|
|
|
1,799 |
|
|
|
7,099 |
|
|
|
5,442 |
|
|
Foreign currency
translation adjustment
|
|
|
— |
|
|
|
— |
|
|
|
(2,507 |
) |
|
|
(1,828 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Benefit obligation at the
end of the period
|
|
$ |
15,911 |
|
|
$ |
14,040 |
|
|
$ |
59,876 |
|
|
$ |
53,895 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Summary Of Change In Plan Assets |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
United States
Plans |
|
|
International
Plans |
|
| |
|
March 31, |
|
|
March 31, |
|
| |
|
2013 |
|
|
2012 |
|
|
2013 |
|
|
2012 |
|
|
Change in plan
assets
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Fair value of plan assets
at the beginning of the period
|
|
$ |
9,192 |
|
|
$ |
8,746 |
|
|
$ |
26,942 |
|
|
$ |
25,779 |
|
|
Actual return on plan
assets
|
|
|
843 |
|
|
|
420 |
|
|
|
4,024 |
|
|
|
1,555 |
|
|
Employer
contributions
|
|
|
963 |
|
|
|
641 |
|
|
|
1,639 |
|
|
|
1,505 |
|
|
Benefits paid, inclusive of
plan expenses
|
|
|
(664 |
) |
|
|
(615 |
) |
|
|
(1,667 |
) |
|
|
(1,709 |
) |
|
Plan settlements
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
(40 |
) |
|
Foreign currency
translation adjustment
|
|
|
— |
|
|
|
— |
|
|
|
(1,470 |
) |
|
|
(148 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Fair value of plan assets
at the end of the period
|
|
$ |
10,334 |
|
|
$ |
9,192 |
|
|
$ |
29,468 |
|
|
$ |
26,942 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Funded status
deficit
|
|
$ |
(5,577 |
) |
|
$ |
(4,848 |
) |
|
$ |
(30,408 |
) |
|
$ |
(26,953 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Summary Of Amounts Recognized In The Balance Sheets |
|
|
|
|
|
|
|
|
|
| |
|
March 31, |
|
| |
|
2013 |
|
|
2012 |
|
|
Amounts recognized in the
consolidated balance sheets consist of:
|
|
|
|
|
|
|
|
|
|
Other assets
|
|
$ |
— |
|
|
$ |
260 |
|
|
Accrued expenses
|
|
|
(1,431 |
) |
|
|
(1,309 |
) |
|
Other
liabilities
|
|
|
(34,554 |
) |
|
|
(30,752 |
) |
|
|
|
|
|
|
|
|
|
|
|
$ |
(35,985 |
) |
|
$ |
(31,801 |
) |
|
|
|
|
|
|
|
|
|
|
| Summary Of Amounts In AOCI Before Taxes |
The following
table represents pension components (before tax) and related
changes (before tax) recognized in AOCI for the Company’s
pension plans for the years ended March 31, 2013, 2012 and
2011:
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
Fiscal year ended
March 31, |
|
| |
|
2013 |
|
|
2012 |
|
|
2011 |
|
|
Amounts recorded in AOCI
before taxes:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Prior service
cost
|
|
$ |
(816 |
) |
|
$ |
(922 |
) |
|
$ |
(1,054 |
) |
|
Net loss
|
|
|
(16,645 |
) |
|
|
(11,176 |
) |
|
|
(3,712 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net amount
recognized
|
|
$ |
(17,461 |
) |
|
$ |
(12,098 |
) |
|
$ |
(4,766 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Summary Of Changes In AOCI |
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
Fiscal year ended
March 31, |
|
| |
|
2013 |
|
|
2012 |
|
|
2011 |
|
|
Changes in plan assets and
benefit obligations:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
New prior service
cost
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
905 |
|
|
Net loss (gain) arising
during the year
|
|
|
6,376 |
|
|
|
7,757 |
|
|
|
(3,505 |
) |
|
Effect of exchange rates on
amounts included in AOCI
|
|
|
(392 |
) |
|
|
(176 |
) |
|
|
151 |
|
|
Amounts recognized as a
component of net periodic benefit costs:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Amortization of prior
service cost
|
|
|
(79 |
) |
|
|
(83 |
) |
|
|
(62 |
) |
|
Amortization or settlement
recognition of net loss
|
|
|
(523 |
) |
|
|
(187 |
) |
|
|
(250 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total recognized in other
comprehensive income
|
|
$ |
5,382 |
|
|
$ |
7,311 |
|
|
$ |
(2,761 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Summary Of Recognized Components Of Net Periodic Pension Cost Included In Accumulated Other Comprehensive Income |
The amounts
included in AOCI as of March 31, 2013 that are expected to be
recognized as components of net periodic pension cost during the
fiscal year ended March 31, 2014 are as follows:
|
|
|
|
|
|
Net loss
|
|
$ |
(866 |
) |
|
Prior service
cost
|
|
|
(78 |
) |
|
|
|
|
|
|
Net amount expected to be
recognized
|
|
$ |
(944 |
) |
|
|
|
|
|
|
| Summary Of Accumulated Benefit Obligation Related To All Defined Pension Plans |
The accumulated
benefit obligation related to all defined benefit pension plans and
information related to unfunded and underfunded defined benefit
pension plans at the end of each year are as follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
United States
Plans |
|
|
International
Plans |
|
| |
|
March 31, |
|
|
March 31, |
|
| |
|
2013 |
|
|
2012 |
|
|
2013 |
|
|
2012 |
|
|
All defined benefit
plans:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Accumulated benefit
obligation
|
|
$ |
15,911 |
|
|
$ |
14,040 |
|
|
$ |
56,135 |
|
|
$ |
50,416 |
|
|
Unfunded defined benefit
plans:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Projected benefit
obligation
|
|
|
— |
|
|
|
— |
|
|
|
28,444 |
|
|
|
26,892 |
|
|
Accumulated benefit
obligation
|
|
|
— |
|
|
|
— |
|
|
|
27,032 |
|
|
|
25,508 |
|
|
Defined benefit plans with
a projected benefit obligation in excess of the fair value of plan
assets:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Projected benefit
obligation
|
|
$ |
15,911 |
|
|
$ |
14,040 |
|
|
$ |
59,876 |
|
|
$ |
28,003 |
|
|
Accumulated benefit
obligation
|
|
|
15,911 |
|
|
|
14,040 |
|
|
|
56,135 |
|
|
|
26,445 |
|
|
Fair value of plan
assets
|
|
|
10,334 |
|
|
|
9,192 |
|
|
|
29,468 |
|
|
|
789 |
|
|
Defined benefit plans with
an accumulated benefit obligation in excess of the fair value of
plan assets:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Projected benefit
obligation
|
|
$ |
15,911 |
|
|
$ |
14,040 |
|
|
$ |
29,571 |
|
|
$ |
28,003 |
|
|
Accumulated benefit
obligation
|
|
|
15,911 |
|
|
|
14,040 |
|
|
|
27,985 |
|
|
|
26,445 |
|
|
Fair value of plan
assets
|
|
|
10,334 |
|
|
|
9,192 |
|
|
|
777 |
|
|
|
789 |
|
|
| Significant Assumptions Used To Determine The Net Periodic Benefit Cost |
Significant
assumptions used to determine the net periodic benefit cost for the
US and International plans were as follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
United States Plans |
|
|
International Plans |
|
| |
|
Fiscal year ended March 31, |
|
|
Fiscal year ended
March 31, |
|
| |
|
2013 |
|
|
2012 |
|
|
2011 |
|
|
2013 |
|
|
2012 |
|
|
2011 |
|
|
Discount rate
|
|
|
4.8 |
% |
|
|
5.7 |
% |
|
|
6.0 |
% |
|
|
2.5-5.5 |
% |
|
|
4.0-5.5 |
% |
|
|
4.3-6.0 |
% |
|
Expected return on plan
assets
|
|
|
8.0 |
|
|
|
8.0 |
|
|
|
8.0 |
|
|
|
5.5-7.0 |
|
|
|
5.5-7.0 |
|
|
|
5.5-7.0 |
|
|
Rate of compensation
increase
|
|
|
N/A |
|
|
|
N/A |
|
|
|
N/A |
|
|
|
2.0-4.0 |
|
|
|
2.0-4.0 |
|
|
|
2.0-3.5 |
|
|
| Significant Assumptions Used To Determine The Projected Benefit Obligations |
Significant
assumptions used to determine the projected benefit obligations for
the US and International plans were as follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
United States Plans |
|
|
International
Plans |
|
| |
|
March 31, |
|
|
March 31, |
|
| |
|
2013 |
|
|
2012 |
|
|
2013 |
|
|
2012 |
|
|
Discount rate
|
|
|
4.0 |
% |
|
|
4.8 |
% |
|
|
2.5-4.4 |
% |
|
|
2.5-5.5 |
% |
|
Expected return on plan
assets
|
|
|
8.0 |
|
|
|
8.0 |
|
|
|
4.0-7.0 |
|
|
|
5.5-7.0 |
|
|
Rate of compensation
increase
|
|
|
N/A |
|
|
|
N/A |
|
|
|
2.0-4.0 |
|
|
|
2.0-4.0 |
|
|
| Summary Of Pension Plan Investments Measured At Fair Value |
The following
table represents our pension plan investments measured at fair
value as of March 31, 2013 and 2012 and the basis for that
measurement:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
March 31,
2013 |
|
| |
|
United States
Plans |
|
|
International
Plans |
|
| |
|
Total Fair
Value
Measurement |
|
|
Quoted Price
In Active
Markets
for Identical
Assets
(Level 1) |
|
|
Significant
Other
Observable
Inputs
(Level 2) |
|
|
Significant
Unobservable
Inputs
(Level 3) |
|
|
Total Fair
Value
Measurement |
|
|
Quoted Price
In Active
Markets
for Identical
Assets
(Level 1) |
|
|
Significant
Other
Observable
Inputs
(Level 2) |
|
|
Significant
Unobservable
Inputs
(Level 3) |
|
|
Asset
category:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cash and cash
equivalents
|
|
$ |
1,454 |
|
|
$ |
1,454 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
— |
|
|
Equity
securities
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US(a)
|
|
|
5,346 |
|
|
|
5,346 |
|
|
|
— |
|
|
|
— |
|
|
|
2,856 |
|
|
|
2,856 |
|
|
|
— |
|
|
|
— |
|
|
International(b)
|
|
|
905 |
|
|
|
905 |
|
|
|
— |
|
|
|
— |
|
|
|
15,617 |
|
|
|
15,617 |
|
|
|
— |
|
|
|
— |
|
|
Fixed
income(c)
|
|
|
2,629 |
|
|
|
2,629 |
|
|
|
— |
|
|
|
— |
|
|
|
10,995 |
|
|
|
10,995 |
|
|
|
— |
|
|
|
— |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total
|
|
$ |
10,334 |
|
|
$ |
10,334 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
29,468 |
|
|
$ |
29,468 |
|
|
$ |
— |
|
|
$ |
— |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
March 31,
2012 |
|
| |
|
United States
Plans |
|
|
International
Plans |
|
| |
|
Total Fair
Value
Measurement |
|
|
Quoted Price
In Active
Markets
for Identical
Assets
(Level 1) |
|
|
Significant
Other
Observable
Inputs
(Level 2) |
|
|
Significant
Unobservable
Inputs
(Level 3) |
|
|
Total
Fair Value
Measurement |
|
|
Quoted Price
In Active
Markets
for Identical
Assets
(Level 1) |
|
|
Significant
Other
Observable
Inputs
(Level 2) |
|
|
Significant
Unobservable
Inputs
(Level 3) |
|
|
Asset
category:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cash and cash
equivalents
|
|
$ |
868 |
|
|
$ |
868 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
— |
|
|
Equity
securities
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US(a)
|
|
|
5,067 |
|
|
|
5,067 |
|
|
|
— |
|
|
|
— |
|
|
|
2,742 |
|
|
|
2,742 |
|
|
|
— |
|
|
|
— |
|
|
International(b)
|
|
|
837 |
|
|
|
837 |
|
|
|
— |
|
|
|
— |
|
|
|
14,728 |
|
|
|
14,728 |
|
|
|
— |
|
|
|
— |
|
|
Fixed
income(c)
|
|
|
2,420 |
|
|
|
2,420 |
|
|
|
— |
|
|
|
— |
|
|
|
9,472 |
|
|
|
9,472 |
|
|
|
— |
|
|
|
— |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total
|
|
$ |
9,192 |
|
|
$ |
9,192 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
26,942 |
|
|
$ |
26,942 |
|
|
$ |
— |
|
|
$ |
— |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(a) |
US equities include
companies that are well diversified by industry sector and equity
style (i.e., growth and value strategies). Active and passive
management strategies are employed. Investments are primarily in
large capitalization stocks and, to a lesser extent, mid- and
small-cap stocks. |
| |
(b) |
International equities are
invested in companies that are traded on exchanges outside the U.S.
and are well diversified by industry sector, country and equity
style. Active and passive strategies are employed. The vast
majority of the investments are made in companies in developed
markets with a small percentage in emerging markets. |
| |
(c) |
Fixed income consists
primarily of investment grade bonds from diversified
industries. |
|
| Summary Of Estimated Future Benefit Payments |
Estimated
future benefit payments under the Company’s pension plans are
as follows:
|
|
|
|
|
| |
|
Pension
Benefits |
|
|
2014
|
|
$ |
2,486 |
|
|
2015
|
|
|
2,253 |
|
|
2016
|
|
|
2,464 |
|
|
2017
|
|
|
2,888 |
|
|
2018
|
|
|
2,872 |
|
|
Years 2019-2023
|
|
|
17,519 |
|
|