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Business and Basis of Presentation (Tables)

12 Months Ended

Mar. 31, 2021

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 to 40
Machinery			3 to 15
Computer equipment and software			3 to 5
Furniture and fixtures			7 to 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)			2021						2020
Components of Property, Plant and Equipment
Land			$	550					$	550
Building			27,180						16,508
Machinery			45,371						42,299
Computer equipment			24,449						22,396
Furniture and fixtures			3,256						3,242
Leasehold improvements			9,071						8,964
Construction in progress			14,537						7,769
			124,414						101,728
Accumulated depreciation			(54,355)						(45,740)
Property, plant and equipment, net			$	70,059					$	55,988

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)			2021						2020						2019
Numerator
Net income (loss)			$	164,682					$	142,281					$	(35,800)
Denominator
Denominator for basic earnings (loss) per share - weighted average shares outstanding			50,210						50,723						52,068
Dilutive effect of unvested restricted stock units and options issued to employees and directors			395						417						—
Denominator for diluted earnings (loss) per share			50,605						51,140						52,068
Earnings (loss) per Common Share:
Basic net earnings (loss) per share			$	3.28					$	2.81					$	(0.69)
Diluted net earnings (loss) per share			$	3.25					$	2.78					$	(0.69)

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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