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Business and Basis of Presentation (Tables)

12 Months Ended

Mar. 31, 2020

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)			2020						2019
Components of Property, Plant and Equipment
Land			$	550					$	550
Building			16,508						13,960
Machinery			42,299						38,761
Computer equipment			22,396						20,716
Furniture and fixtures			3,242						3,200
Leasehold improvements			8,964						9,090
Construction in progress			7,769						3,711
			101,728						89,988
Accumulated depreciation			(45,740)						(38,812)
Property, plant and equipment, net			$	55,988					$	51,176

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)			2020						2019						2018
Numerator
Net income (loss)			$	142,281					$	(35,800)					$	339,570
Denominator
Denominator for basic earnings (loss) per share - weighted average shares outstanding			50,723						52,068						53,099
Dilutive effect of unvested restricted stock units and options issued to employees and directors			417						—						427
Denominator for diluted earnings (loss) per share			51,140						52,068						53,526
Earnings (loss) per Common Share:
Basic net earnings (loss) per share			$	2.81					$	(0.69)					$	6.40
Diluted net earnings (loss) per share			$	2.78					$	(0.69)					$	6.34

Impact of New Accounting Pronouncements

The effects of this recently adopted accounting pronouncement to our Consolidated Balance Sheet as of April 1, 2019 are as follows:

(In thousands)			March 31, 2019						New Lease Standard Adjustment						April 1, 2019
Assets:
Operating lease ROU assets			$	—					$	17,435					$	17,435
Liabilities:
Operating lease liabilities, current portion			$	—					$	(5,697)					$	(5,697)
Long-term operating lease liabilities, net of current portion			$	—					$	(13,296)					$	(13,296)
Other accrued liabilities (1)			$	(60,663)					$	1,558					$	(59,105)

(1) Relates to deferred rent and exit costs associated with existing leases.

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Tabular disclosure of physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, balances by class of assets, depreciation and depletion expense and method used, including composite depreciation, and accumulated deprecation.

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Tabular disclosure of an entity's basic and diluted earnings per share calculations, including a reconciliation of numerators and denominators of the basic and diluted per-share computations for income from continuing operations.

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