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Stockholders’ Equity (Tables) | 12 Months Ended
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Mar. 31, 2022
Equity [Abstract] |
Change in Number of Shares of Common Stock Outstanding | The following demonstrates the change in the number of shares of common stock outstanding during fiscal years ended March 31, 2020, 2021 and 2022, respectively:
Shares outstanding as of March 31, 2019 | 42,620,750 |
Purchase of treasury stock | (581,140) |
Shares issued towards equity-based compensation plans, net of equity awards surrendered for option price and taxes | 283,695 |
Shares outstanding as of March 31, 2020 | 42,323,305 |
Purchase of treasury stock | — |
Shares issued under equity-based compensation plans, net of equity awards surrendered for option price and taxes | 429,715 |
Shares outstanding as of March 31, 2021 | 42,753,020 |
Purchase of treasury stock | (1,996,334) |
Shares issued under equity-based compensation plans, net of equity awards surrendered for option price and taxes | 229,972 |
Shares outstanding as of March 31, 2022 | 40,986,658 |
Components Of Accumulated Other Comprehensive Income | The components of AOCI, net of tax, are as follows:
|  | Beginning Balance |  | Before Reclassifications |  | Amount Reclassified from AOCI |  | Ending Balance
March 31, 2022 |  |  |  |  |  |  |  |
Pension funded status adjustment |  | $ | (20,947) |  |  | $ | 7,374 |  |  | $ | 936 |  |  | $ | (12,637) |
Net unrealized gain (loss) on derivative instruments |  | 360 |  |  | 10,063 |  |  | (7,460) |  |  | 2,963 |
Foreign currency translation adjustment (1) |  | (95,296) |  |  | (38,525) |  |  | — |  |  | (133,821) |
Accumulated other comprehensive loss |  | $ | (115,883) |  |  | $ | (21,088) |  |  | $ | (6,524) |  |  | $ | (143,495) |
March 31, 2021 |  |  |  |  |  |  |  |
Pension funded status adjustment |  | $ | (22,794) |  |  | $ | 680 |  |  | $ | 1,167 |  |  | $ | (20,947) |
Net unrealized gain (loss) on derivative instruments |  | (5,923) |  |  | 250 |  |  | 6,033 |  |  | 360 |
Foreign currency translation adjustment |  | (186,289) |  |  | 90,993 |  |  | — |  |  | (95,296) |
Accumulated other comprehensive loss |  | $ | (215,006) |  |  | $ | 91,923 |  |  | $ | 7,200 |  |  | $ | (115,883) |
March 31, 2020 |  |  |  |  |  |  |  |
Pension funded status adjustment |  | $ | (20,791) |  |  | $ | (2,819) |  |  | $ | 816 |  |  | $ | (22,794) |
Net unrealized gain (loss) on derivative instruments |  | (130) |  |  | (6,672) |  |  | 879 |  |  | (5,923) |
Foreign currency translation adjustment |  | (121,761) |  |  | (64,528) |  |  | — |  |  | (186,289) |
Accumulated other comprehensive loss |  | $ | (142,682) |  |  | $ | (74,019) |  |  | $ | 1,695 |  |  | $ | (215,006) |
(1) Foreign currency translation adjustment for the fiscal year ended March 31, 2022 includes a $228 gain (net of taxes of $70) relating to the net investment hedges entered into by the Company on December 23, 2021.
Reclassification out of Accumulated Other Comprehensive Income | The following table presents reclassifications from AOCI during the twelve months ended March 31, 2022:
Components of AOCI |  | Amounts Reclassified from AOCI |  | Location of (Gain) Loss Recognized on Income Statement
Derivatives in Cash Flow Hedging Relationships: |  |  |  |
Net unrealized gain on derivative instruments |  | $ | (9,742) |  |  | Cost of goods sold
Tax expense |  | 2,282 |  |  |
Net unrealized gain on derivative instruments, net of tax |  | $ | (7,460) |  |  |
Derivatives in net investment hedging relationships: |  |  |  |
Net unrealized gain on derivative instruments |  | $ | (1,181) |  |  | Interest expense
Tax expense |  | 276 |  |  |
Net unrealized gain on derivative instruments, net of tax |  | $ | (905) |  |  |
Defined benefit pension costs: |  |  |  |
Prior service costs and deferrals |  | $ | 1,212 |  |  | Net periodic benefit cost, included in other (income) expense, net - See Note 15
Tax benefit |  | (276) |  |  |
Net periodic benefit cost, net of tax |  | $ | 936 |  |  |
The following table presents reclassifications from AOCI during the twelve months ended March 31, 2021:
Components of AOCI |  | Amounts Reclassified from AOCI |  | Location of (Gain) Loss Recognized on Income Statement
Derivatives in Cash Flow Hedging Relationships: |  |  |  |
Net unrealized loss on derivative instruments |  | $ | 7,903 |  |  | Cost of goods sold
Tax benefit |  | (1,870) |  |  |
Net unrealized loss on derivative instruments, net of tax |  | $ | 6,033 |  |  |
Defined benefit pension costs: |  |  |  |
Prior service costs and deferrals |  | $ | 1,529 |  |  | Net periodic benefit cost, included in other (income) expense, net - See Note 15
Tax benefit |  | (362) |  |  |
Net periodic benefit cost, net of tax |  | $ | 1,167 |  |  |
The following table presents reclassifications from AOCI during the twelve months ended March 31, 2020:
Components of AOCI |  | Amounts Reclassified from AOCI |  | Location of (Gain) Loss Recognized on Income Statement
Derivatives in Cash Flow Hedging Relationships: |  |  |  |
Net unrealized loss on derivative instruments |  | $ | 1,151 |  |  | Cost of goods sold
Tax benefit |  | (272) |  |  |
Net unrealized loss on derivative instruments, net of tax |  | $ | 879 |  |  |
Defined benefit pension costs: |  |  |  |
Prior service costs and deferrals |  | $ | 1,098 |  |  | Net periodic benefit cost, included in other (income) expense, net - See Note 15
Tax benefit |  | (282) |  |  |
Net periodic benefit cost, net of tax |  | $ | 816 |  |  |

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