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Derivative Instruments | 12 Months Ended
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Mar. 31, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
Derivative Instruments | Derivative Instruments Changes in interest rates expose us to risks. To help us manage these risks, in January 2020, we entered into two interest rate swaps to hedge a total of $400.0 million of our variable interest debt. One swap settled on January 31, 2021 and the other settled on January 31, 2022. We do not use derivatives for trading purposes.
The following table summarizes our interest rate swaps, net of tax, for the periods shown:
(In thousands) |  | Location |  | 2024 |  | 2023 |  | 2022
Gain Recognized in Other Comprehensive (Loss) Income (effective portion) | Other comprehensive income (loss) |  | $ | — |  |  | $ | — |  |  | $ | 1,819 |
Loss Reclassified from Accumulated Other Comprehensive (Loss) Income into Income | Interest expense, net |  | $ | — |  |  | $ | — |  |  | $ | (2,429) |
Counterparty Credit Risk: We managed our exposure to counterparty credit risk by only dealing with counterparties who were substantial international financial institutions with significant experience using such derivative instruments.

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