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Employee Retirement Plans (Tables)

12 Months Ended

Mar. 31, 2023

Retirement Benefits [Abstract]

Schedule of Benefit Obligation and Plan Assets

The following table summarizes the changes in the U.S. pension plan obligations and plan assets and includes a statement of the plans' funded status as of March 31, 2023 and 2022:

			March 31,
(In thousands)			2023						2022
Change in benefit obligation:
Projected benefit obligation at beginning of period			$	51,507					$	56,818
Interest cost			423						1,107
Actuarial (gain) loss			(2,044)						(2,888)
Benefits paid			(46,240)						(3,530)
Projected benefit obligations at end of year			$	3,646					$	51,507
Change in plan assets:
Fair value of plan assets at beginning of period			$	48,708					$	53,275
Actual return on plan assets			(2,820)						(1,405)
Employer contribution			370						368
Benefits paid			(1,371)						(3,530)
Settlements paid with termination of qualified plan			$	(44,869)					—
Fair value of plan assets at end of year			$	18					$	48,708
Funded status at end of year			$	(3,628)					$	(2,799)

The following table provides information regarding our pension plans with an accumulated benefit obligation and a projected benefit obligation in excess of plan assets:

			March 31,
(In thousands)			2023						2022
Accumulated benefit obligation			$	3,646					$	51,507
Fair value of plan assets			18						48,708
Projected benefit obligations			$	3,646					$	51,507
Fair value of plan assets			18						48,708

Schedule of Amounts Recognized in Balance Sheet

Amounts recognized in the balance sheet at the end of the period consist of the following:

			March 31,
(In thousands)			2023						2022
Noncurrent asset			$	18					$	1,534
Current liability			362						365
Long-term liability			3,284						3,968
Total liabilities			$	3,646					$	4,333
Total net liability			$	(3,628)					$	(2,799)

Schedule of Primary Components of Net Periodic Benefits

The primary components of Net Periodic Benefit Cost (Income) consist of the following:

			Year Ended March 31,
(In thousands)			2023						2022						2021
Interest cost			$	423					$	1,107					$	1,972
Expected return on assets			(252)						(1,163)						(2,336)
Net periodic benefit cost (income)			$	171					$	(56)					$	(364)

Schedule of Expected to be Contributed

The following table includes amounts that are expected to be contributed to the unfunded plan by the Company. It reflects benefit payments that are made directly from the Company's assets. The amounts in the table are actuarially determined and reflect the Company's best estimate given its current knowledge; actual amounts could be materially different.

(In thousands)			Pension Benefits
Employer contributions:
2024 (expectation) to participant benefits			$	362
Expected benefit payments year ending March 31,
2024			$	362
2025			354
2026			344
2027			332
2028			320
2029-2032			1,404

Schedule of Allocation of Plan Assets

The asset allocation for the Plan as of March 31, 2023 and 2022, and the target allocation by asset category are as follows:

			Percentage of Plan Assets
Asset Category			Target Allocation						March 31, 2023						March 31, 2022
Real estate			—		%				—		%				—		%
Fixed income and cash			100						100						100
Total			100		%				100		%				100		%

Schedule of Net Periodic Benefit Cost Not yet Recognized

The following tables show the unrecognized actuarial loss (gain) included in accumulated other comprehensive income (loss) at March 31, 2023, 2022 and 2021:

(In thousands)
Balances in accumulated other comprehensive loss as of March 31, 2021:
Unrecognized actuarial (gain)			$	(1,202)
Unrecognized prior service credit			—
Balances in accumulated other comprehensive loss as of March 31, 2022:
Unrecognized actuarial (gain)			$	(1,522)
Unrecognized prior service credit			—
Balances in accumulated other comprehensive loss as of March 31, 2023:
Unrecognized actuarial (gain)			$	(930)
Unrecognized prior service credit			—

Schedule of Assumptions Used

Assumptions used in determining the actuarial present value of the net periodic benefit cost (income) for the fiscal years ended March 31, 2023, 2022 and 2021 were as follows:

March 31,

2023 *

2022

2021 **

Key assumptions:

Discount rate

3.26% to 3.48%

2.58% to 2.95%

3.37% to 3.55%

Expected return on plan assets, net of administrative fees

2.75%

2.25%

5.00%

*The qualified plan was remeasured at April 30, 2022 for settlement accounting, at which point a discount rate of 3.98% and an expected return assumption of 2.75% were selected and used to determine the net periodic benefit cost (income) for the remainder of the fourth quarter of fiscal 2023.

**The qualified plan was remeasured at December 31, 2020 for settlement accounting, at which point a discount rate of 2.51% and an expected return assumption of 2.75% were selected and used to determine the net periodic benefit cost (income) for the fourth quarter of fiscal 2021.

Assumptions used in determining the actuarial present value of the benefit obligation as of March 31, 2023 and 2022 were as follows:

			March 31,
			2023						2022
Key assumptions:
Discount rate			4.47%						3.26% to 3.48%

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