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Income Taxes (Tables) | 12 Months Ended
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Mar. 31, 2019
Income Tax Disclosure [Abstract] |
Income from Continuing Operations Before Income Taxes, Domestic and Foreign | Income (loss) before income taxes consists of the following:
| Year Ended March 31,
(In thousands) | 2019 |  | 2018 |  | 2017
United States | $ | (52,313 | ) |  | $ | 84,435 |  |  | $ | 93,582 |
Foreign | 14,258 |  |  | 22,651 |  |  | 17,268 |
| $ | (38,055 | ) |  | $ | 107,086 |  |  | $ | 110,850 |
Components of Provision for Income Taxes | The (benefit) provision for income taxes consists of the following:
| Year Ended March 31,
(In thousands) | 2019 |  | 2018 |  | 2017
Current |  |  |  |  |
Federal | $ | 27,629 |  |  | $ | 31,327 |  |  | $ | 40,183 |
State | 3,156 |  |  | 2,686 |  |  | 2,808 |
Foreign | 7,193 |  |  | 5,588 |  |  | 4,242 |
Deferred |  |  |  |  |  |  |
Federal | (35,760 | ) |  | (270,796 | ) |  | (5,421 | )
State | (4,101 | ) |  | (1,240 | ) |  | (163 | )
Foreign | (372 | ) |  | (49 | ) |  | (194 | )
Total (benefit) provision for income taxes | $ | (2,255 | ) |  | $ | (232,484 | ) |  | $ | 41,455 |
Components of Deferred Tax Balances | The principal components of our deferred tax balances are as follows:
| March 31,
(In thousands) | 2019 |  | 2018
Deferred Tax Assets |  |  |
Allowance for doubtful accounts and sales returns | $ | 3,285 |  |  | $ | 2,806 |
Inventory capitalization | 1,245 |  |  | 1,176 |
Inventory reserves | 1,267 |  |  | 540 |
Net operating loss carryforwards | 226 |  |  | 609 |
State income taxes | 9,003 |  |  | 10,154 |
Accrued liabilities | 1,785 |  |  | 2,210 |
Accrued compensation | 4,416 |  |  | 4,992 |
Stock compensation | 4,206 |  |  | 5,038 |
Foreign tax credit | 3,236 |  |  | — |
Interest | 154 |  |  | — |
Other | 7,691 |  |  | 4,975 |
Total deferred tax assets | $ | 36,514 |  |  | $ | 32,500 |
Deferred Tax Liabilities |  |  |  |
Property, plant and equipment | $ | (6,002 | ) |  | $ | (6,032 | )
Intangible assets | (425,134 | ) |  | (467,388 | )
Adoption of revenue recognition standard | (721 | ) |  | — |
Total deferred tax liabilities | $ | (431,857 | ) |  | $ | (473,420 | )
Net deferred tax liability before valuation allowance | $ | (395,343 | ) |  | $ | (440,920 | )
Valuation allowance | (3,236 | ) |  | (609 | )
Net deferred tax liability | $ | (398,579 | ) |  | $ | (441,529 | )
Reconciliation of Effective Tax Rate | A reconciliation of the effective tax rate compared to the statutory U.S. Federal tax rate is as follows:
| Year Ended March 31,
| 2019 |  | 2018 |  | 2017
(In thousands) |  |  | % |  |  |  |  | % |  |  |  |  | % |
Income tax (benefit) provision at statutory rate | $ | (7,992 | ) |  | 21.0 |  |  | $ | 37,480 |  |  | 35.0 |  |  | $ | 38,798 |  |  | 35.0 |
Foreign tax provision (benefit) | 2,866 |  |  | (7.5 | ) |  | (2,084 | ) |  | (1.9 | ) |  | (2,322 | ) |  | (2.1 | )
State income taxes, net of federal income tax benefit | (1,710 | ) |  | 4.5 |  |  | 1,414 |  |  | 1.3 |  |  | 1,820 |  |  | 1.7 |
Impact of tax legislation | — |  |  | — |  |  | (268,244 | ) |  | (250.5 | ) |  | — |  |  | — |
Goodwill impairment | 5,616 |  |  | (14.8 | ) |  | — |  |  | — |  |  | 3,208 |  |  | 2.9 |
R&D | (629 | ) |  | 1.7 |  |  | — |  |  | — |  |  | — |  |  | — |
Compensation limitations | 296 |  |  | (0.8 | ) |  | — |  |  | — |  |  | — |  |  | — |
Valuation allowance | 2,627 |  |  | (6.9 | ) |  | (2,828 | ) |  | (2.6 | ) |  | — |  |  | — |
Gain on sale | 1,312 |  |  | (3.4 | ) |  | — |  |  | — |  |  | — |  |  | — |
Nondeductible transaction costs | — |  |  | — |  |  | — |  |  | — |  |  | 686 |  |  | 0.6 |
Nondeductible compensation | — |  |  | — |  |  | — |  |  | — |  |  | 342 |  |  | 0.3 |
Other | (4,641 | ) |  | 12.1 |  |  | 1,778 |  |  | 1.6 |  |  | (1,077 | ) |  | (1.0 | )
Total (benefit) provision for income taxes | $ | (2,255 | ) |  | 5.9 |  |  | $ | (232,484 | ) |  | (217.1 | ) |  | $ | 41,455 |  |  | 37.4 |
Uncertain Tax Liability Activity | Uncertain tax liability activity is as follows:
| 2019 |  | 2018 |  | 2017
(In thousands) |  |  |  |  |
Balance – beginning of year | $ | 10,827 |  |  | $ | 3,651 |  |  | $ | 4,084 |
Additions based on tax positions related to the current year | 585 |  |  | 7,286 |  |  | 583 |
Reductions based on lapse of statute of limitations | (650 | ) |  | (110 | ) |  | (1,016 | )
Payments and other movements | (888 | ) |  | — |  |  | — |
Balance – end of year | $ | 9,874 |  |  | $ | 10,827 |  |  | $ | 3,651 |

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