Pension And Other Postretirement Benefit Plans (Tables)

12 Months Ended

Mar. 31, 2017

Defined Benefit Pension Plans and Defined Benefit Postretirement Plans Disclosure [Abstract]

Assumptions Used To Compute Net Periodic Benefit Cost And Benefit Obligations

Assumptions used for financial reporting purposes to compute net periodic benefit cost and benefit obligations for the Company's primary defined benefit plans were as follows:



	Pension Benefits						Other Postretirement Benefits
	2017		2016		2015		2017		2016		2015
Discount rates:
Benefit cost for plan year	4.10	%	3.80	%	4.50	%	3.80	%	3.70	%	4.30	%
Benefit obligation at end of plan year	4.10	%	4.10	%	3.80	%	3.90	%	3.80	%	3.70	%
Expected long-term return on plan assets:
Benefit cost for plan year	7.00	%	7.25	%	7.75	%	3.00	%	3.00	%	4.30	%
Salary scale:
Benefit cost for plan year	4.00	%	4.50	%	4.50	%	4.00	%	4.50	%	4.50	%
Benefit obligation at end of plan year	4.00	%	4.00	%	4.50	%	4.00	%	4.00	%	4.50	%
Healthcare cost trend rate	N/A		N/A		N/A		6.70	%	7.00	%	7.20	%

Benefit Obligations, Plan Assets, And Funded Status

The following table reflects the changes in benefit obligations and plan assets in 2017 and 2016, as well as the funded status of the plans at March 31, 2017 and 2016:



	Pension Benefits						Other Postretirement Benefits
	March 31,						March 31,
	2017			2016			2017			2016
Actuarial present value of benefit obligation:
Accumulated benefit obligation	$	266,764		$	273,479
Projected benefit obligation	269,250			275,505			$	36,786		$	37,225

Change in projected benefit obligation:
Projected benefit obligation, beginning of year	$	275,505		$	288,908		$	37,225		$	40,863
Service cost	5,382			5,953			247			286
Interest cost	10,441			10,037			1,535			1,539
Effect of discount rate change	489			(10,036		)	(191		)	(402		)
Foreign currency exchange rate changes	(1,111		)	330			286			(215		)
Settlements	(10,955		)	—			—			—
Other	4,108			(486		)	766			(1,104		)
Benefit payments	(14,609		)	(19,201		)	(3,082		)	(3,742		)
Projected benefit obligation, end of year	$	269,250		$	275,505		$	36,786		$	37,225

Change in plan assets:
Plan assets at fair value, beginning of year	$	217,859		$	224,553		$	1,565		$	2,115
Actual return on plan assets	16,450			61			71			69
Employer contributions	10,676			12,504			4,500			3,123
Settlements	(10,322		)	—			—			—
Foreign currency exchange rate changes	97			(58		)	—			—
Benefit payments	(14,609		)	(19,201		)	(3,082		)	(3,742		)
Plan assets at fair value, end of year	$	220,151		$	217,859		$	3,054		$	1,565

Funded status:
Funded status of the plans, end of year	$	(49,099	)	$	(57,646	)	$	(33,732	)	$	(35,660	)

Funded Status In Consolidated Balance Sheets

The funded status of the Company’s plans at the end of fiscal years 2017 and 2016 was reported in the consolidated balance sheets as follows:



	Pension Benefits						Other Postretirement Benefits
	March 31,						March 31,
	2017			2016			2017			2016
Non-current asset (included in other noncurrent assets)	$	1,710		$	2,044		$	—		$	—
Current liability (included in accounts payable and accrued expenses)	(1,106		)	(630		)	(2,746		)	(2,543		)
Non-current liability (reported as pensions and other postretirement benefits)	(49,703		)	(59,060		)	(30,986		)	(33,117		)
Amounts recognized in the consolidated balance sheets	$	(49,099	)	$	(57,646	)	$	(33,732	)	$	(35,660	)

Additional Information On Funded Status

Additional information on the funded status of the Company’s plans as of the respective measurement dates for the fiscal years ended March 31, 2017 and 2016, is as follows:



	Pension Benefits				Other Postretirement Benefits
	March 31,				March 31,
	2017		2016		2017		2016
For plans with a projected benefit obligation in excess of plan assets:
Aggregate projected benefit obligation (PBO)	$	260,826	$	270,058	$	36,786	$	37,225
Aggregate fair value of plan assets	210,017		210,368		3,054		1,565
For plans with an accumulated benefit obligation in excess of plan assets:
Aggregate accumulated benefit obligation (ABO)	258,424		268,087		N/A		N/A
Aggregate fair value of plan assets	210,017		210,368		N/A		N/A

Components Of Company's Net Periodic Benefit Cost

The components of the Company’s net periodic benefit cost were as follows:



	Pension Benefits									Other Postretirement Benefits
	Fiscal Year Ended March 31,									Fiscal Year Ended March 31,
	2017			2016			2015			2017			2016			2015
Components of net periodic benefit cost:
Service cost	$	5,382		$	5,953		$	5,099		$	247		$	286		$	347
Interest cost	10,441			10,037			11,215			1,535			1,539			1,699
Expected return on plan assets	(15,154		)	(15,110		)	(15,493		)	(42		)	(58		)	(102		)
Curtailment gain	—			—			—			—			—			(1,465		)
Settlement gain	(912		)	—			—			—			—			—
Net amortization and deferral	4,576			4,394			6,169			(394		)	(431		)	(671		)
Net periodic benefit cost	$	4,333		$	5,274		$	6,990		$	1,346		$	1,336		$	(192	)

Recognized In Accumulated Other Comprehensive Income (Loss) On Pretax Basis

The amounts recognized in other comprehensive income or loss for fiscal years 2017 and 2016 and the amounts included in accumulated other comprehensive loss at the end of those fiscal years are shown below. All amounts shown are before allocated income taxes.



	Pension Benefits						Other Postretirement Benefits
	March 31,						March 31,
	2017			2016			2017			2016
Change in net actuarial loss (gain):
Net actuarial loss (gain), beginning of year	$	79,299		$	81,544		$	(7,234	)	$	(6,402	)
Losses (gains) arising during the year	2,313			4,787			554			(1,263		)
Amortization included in net periodic benefit cost during the year	(7,567		)	(7,032		)	394			431
Net actuarial loss (gain), end of year	74,045			79,299			(6,286		)	(7,234		)

Change in prior service cost (benefit):
Prior service cost (benefit), beginning of year	(15,061		)	(17,630		)	(108		)	—
Prior service cost (benefit) arising during the year	—			111			(4		)	(108		)
Amortization included in net periodic benefit cost during the year	2,991			2,458			—			—
Prior service cost (benefit), end of year	(12,070		)	(15,061		)	(112		)	(108		)

Total amounts in accumulated other comprehensive loss at end of year, before income taxes	$	61,975		$	64,238		$	(6,398	)	$	(7,342	)

Weighted-Average Target Pension Asset Allocation And Target Ranges By Major Asset Category

The weighted–average target pension asset allocation and target ranges at the March 31, 2017 measurement date and the actual asset allocations at the March 31, 2017 and 2016 measurement dates by major asset category were as follows:



							Actual Allocation
	Target Allocation						March 31,
Major Asset Category	Target Allocation		Range				2017		2016
Equity securities	26.0	%	16	%	-	36%	31.9	%	22.4	%
Fixed income securities ⁽¹⁾	69.0	%	59	%	-	79%	61.7	%	71.5	%
Alternative investments	5.0	%	0	%	-	10%	6.4	%	6.1	%
Total	100.0	%					100.0	%	100.0	%

Estimated Future Benefit Payments

Estimated future benefit payments to be made from the Company’s plans are as follows:



Fiscal Year	Pension Benefits		Other Postretirement Benefits
2018	$	15,031	$	3,142
2019	22,040		3,129
2020	20,162		3,015
2021	16,727		2,930
2022	17,019		2,797
2023 - 2027	88,929		12,554

Fair Values Of The Assets Under Fair Value Hierarchy

Fair values of the assets of the Company’s pension plans as of March 31, 2017 and 2016, classified based on how their values were determined under the fair value hierarchy are as follows:



	March 31, 2017
	Level 1		Level 2		Level 3		Total
Equity securities	$	65,637	$	—	$	—	$	65,637
Fixed income securities⁽¹⁾	128,215		10,134		3,072		141,421
Alternative investments	—		—		13,094		13,094
Total investments	$	193,852	$	10,134	$	16,166	$	220,152



	March 31, 2016
	Level 1		Level 2		Level 3		Total
Equity securities	$	43,807	$	—	$	—	$	43,807
Fixed income securities⁽¹⁾	141,218		7,491		13,382		162,091
Alternative investments	—		—		11,961		11,961
Total investments	$	185,025	$	7,491	$	25,343	$	217,859