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Business and Basis of Presentation (Tables) | 12 Months Ended
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Mar. 31, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract] |
Property, Plant and Equipment | Property, plant and equipment are stated at cost and are depreciated using the straight-line method based on the following estimated useful lives:
| Years
Building | 15 - 40
Machinery | 3 - 15
Computer equipment and software | 3 - 5
Furniture and fixtures | 7 - 10
Leasehold improvements | *
*Leasehold improvements are amortized over the lesser of the lease term or the estimated useful life of the related assets. Property, plant and equipment, net consist of the following:
| March 31,
(In thousands) | 2019 |  | 2018
Components of Property, Plant and Equipment |  |  |
Land | $ | 550 |  |  | $ | 550 |
Building | 13,960 |  |  | 13,746 |
Machinery | 42,472 |  |  | 38,599 |
Computer equipment | 20,716 |  |  | 18,116 |
Furniture and fixtures | 3,200 |  |  | 2,924 |
Leasehold improvements | 9,090 |  |  | 8,804 |
| 89,988 |  |  | 82,739 |
Accumulated depreciation | (38,812 | ) |  | (30,187 | )
Property, plant and equipment, net | $ | 51,176 |  |  | $ | 52,552 |
Computation of Basic and Diluted Earnings Per Share | The following table sets forth the computation of basic and diluted earnings per share:
| Year Ended March 31,
(In thousands, except per share data) | 2019 |  | 2018 |  | 2017
Numerator |  |  |  |  |
Net (loss) income | $ | (35,800 | ) |  | $ | 339,570 |  |  | $ | 69,395 |
Denominator |  |  |  |  |  |  |
Denominator for basic (loss) earnings per share - weighted average shares outstanding | 52,068 |  |  | 53,099 |  |  | 52,976 |
Dilutive effect of unvested restricted stock units and options issued to employees and directors | — |  |  | 427 |  |  | 386 |
Denominator for diluted (loss) earnings per share | 52,068 |  |  | 53,526 |  |  | 53,362 |
(Loss) earnings per Common Share: |  |  |  |  |  |  |
Basic net (loss) earnings per share | $ | (0.69 | ) |  | $ | 6.40 |  |  | $ | 1.31 |
Diluted net (loss) earnings per share | $ | (0.69 | ) |  | $ | 6.34 |  |  | $ | 1.30 |
Impact of Adopting ASC 606 | The impact of adopting ASC 606 on our Consolidated Statements of Income (Loss) and Comprehensive Income (Loss) is as follows:
| Year Ended March 31, 2019
(In thousands) | As Reported |  | Impact of Change |  | Without Adoption of ASC 606
Total revenues | $ | 975,777 |  |  | $ | (14,756 | ) |  | $ | 961,021 |
Cost of sales | $ | 420,201 |  |  | $ | (5,220 | ) |  | $ | 414,981 |
Total operating expenses | $ | 488,073 |  |  | $ | (319 | ) |  | $ | 487,754 |
Loss before income taxes | $ | (38,055 | ) |  | $ | (9,217 | ) |  | $ | (47,272 | )
(Benefit) for income taxes | $ | (2,255 | ) |  | $ | (2,662 | ) |  | $ | (4,917 | )
Net loss | $ | (35,800 | ) |  | $ | (6,555 | ) |  | $ | (42,355 | )
The effects of this recently adopted accounting pronouncement to our Consolidated Balance Sheet as of April 1, 2018 are as follows:
(In thousands) | Balance March 31, 2018 |  | New Revenue Standard Adjustment |  | April 1, 2018
Accounts receivable, net | $ | 140,881 |  |  | $ | 5,438 |  |  | $ | 146,319 |
Inventories | 118,547 |  |  | (1,768 | ) |  | 116,779 |
Other accrued liabilities | 52,101 |  |  | 1,926 |  |  | 54,027 |
Deferred income tax liabilities | 442,518 |  |  | 401 |  |  | 442,919 |
Retained earnings | 736,277 |  |  | 1,343 |  |  | 737,620 |

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