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PENSION BENEFIT PLANS (Tables) | 12 Months Ended
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Mar. 31, 2022
Retirement Benefits [Abstract] |
Schedule of Changes in Benefit Obligation | The components of the change in benefit obligation of the pension plan is as follows (in thousands):
| March 31, |  | March 31, |  |
| 2022 |  | 2021 |  |
Benefit obligation, at beginning of year | $ | 37,586 |  |  | $ | 32,805 |  |  |
Service cost | 331 |  |  | 333 |  |  |
Interest cost | 560 |  |  | 667 |  |  |
Benefits paid and other | (422) |  |  | (400) |  |  |
Actuarial (gain) loss | (2,761) |  |  | 2,205 |  |  |
Foreign exchange rate impact | (2,445) |  |  | 1,976 |  |  |
Benefit obligation, at end of year | $ | 32,849 |  |  | $ | 37,586 |  |  |
Schedule of Changes in Fair Value of Plan Assets | The reconciliation of the beginning and ending balances of the fair value of the assets of the pension plan is as follows (in thousands):
| March 31, |  | March 31, |  |
| 2022 |  | 2021 |  |
Fair value of plan assets, at beginning of year | $ | — |  |  | $ | — |  |  |
Employer direct benefit payments | 422 |  |  | 400 |  |  |
Benefits paid and other | (422) |  |  | (400) |  |  |
Fair value of plan assets, at end of year | $ | — |  |  | $ | — |  |  |
Schedule of Net Benefit Costs | The following sets forth the components of the Company's net periodic pension cost of the noncontributory defined benefit pension plans for the fiscal years ended March 31, 2022, 2021, and 2020 (in thousands):
| Fiscal Year Ended March 31,
| 2022 |  | 2021 |  | 2020
Service cost | $ | 331 |  |  | $ | 333 |  |  | $ | 341 |
Interest cost | 560 |  |  | 667 |  |  | 603 |
Net periodic pension cost | $ | 891 |  |  | $ | 1,000 |  |  | $ | 944 |
Schedule of Assumptions Used | Weighted average assumptions used to determine net periodic pension cost at date of measurement:
| March 31, |  | March 31, |  | March 31,
| 2022 |  | 2021 |  | 2020
Discount rate | 2.20 | % |  | 1.60 | % |  | 1.90 | %
Rate of compensation increase | 3.00 | % |  | 3.00 | % |  | 3.00 | %
Schedule of Expected Benefit Payments | The following sets forth benefit payments, which reflect expected future service, as appropriate, expected to be paid by the plan in the periods indicated (in thousands):
2023 | $ | 520 |
2024 | $ | 570 |
2025 | $ | 677 |
2026 | $ | 776 |
2027 | $ | 882 |
2028 - 2032 | $ | 5,842 |

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- Definition Tabular disclosure of assumption used to determine benefit obligation and net periodic benefit cost of defined benefit plan. Includes, but is not limited to, discount rate, rate of compensation increase, expected long-term rate of return on plan assets and interest crediting rate. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (k) -URI http://asc.fasb.org/extlink&oid=123447040&loc=d3e1928-114920 + Details
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- Definition Tabular disclosure of the reconciliation of beginning and ending balances of the fair value of plan assets of pension plans and/or other employee benefit plans showing separately, if applicable, the effects during the period attributable to each of the following: actual return on plan assets, foreign currency exchange rate changes, contributions by the employer, contributions by plan participants, benefits paid, business combinations, divestitures, and settlements. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=123447040&loc=d3e1928-114920 + Details
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- Definition Tabular disclosure of the change in the benefit obligation of pension plans and/or other employee benefit plans from the beginning to the end of the period, showing separately, if applicable, the effects of the following: service cost, interest cost, contributions by plan participants, actuarial gains and losses, foreign currency exchange rate changes, benefits paid, plan amendments, business combinations, divestitures, curtailments, settlements, and special and contractual termination benefits. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=123447040&loc=d3e1928-114920 + Details
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- Definition Tabular disclosure of benefits expected to be paid by pension plans and/or other employee benefit plans in each of the next five fiscal years and in the aggregate for the five fiscal years thereafter. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (f) -URI http://asc.fasb.org/extlink&oid=123447040&loc=d3e1928-114920 + Details
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- Definition Tabular disclosure of the components of net benefit costs for pension plans and/or other employee benefit plans including service cost, interest cost, expected return on plan assets, gain (loss), prior service cost or credit, transition asset or obligation, and gain (loss) recognized due to settlements or curtailments. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (h) -URI http://asc.fasb.org/extlink&oid=123447040&loc=d3e1928-114920 + Details
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