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Pension And Other Postretirement Benefit Plans (Tables) | 12 Months Ended
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Mar. 31, 2024
Retirement Benefits [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
| 2024 |  | 2023 |  | 2022 |  | 2024 |  | 2023 |  | 2022
Discount rates: |  |  |  |  |  |  |  |  |  |  |
Benefit cost for plan year | 5.00 | % |  | 3.70 | % |  | 3.30 | % |  | 4.90 | % |  | 3.60 | % |  | 2.90 | %
Benefit obligation at end of plan year | 5.27 | % |  | 5.00 | % |  | 3.70 | % |  | 5.17 | % |  | 4.90 | % |  | 3.60 | %
Expected long-term return on plan assets: |  |  |  |  |  |  |  |  |  |  |
Benefit cost for plan year | 6.50 | % |  | 5.50 | % |  | 5.50 | % |  | 3.00 | % |  | 3.00 | % |  | 3.00 | %
Salary scale: |  |  |  |  |  |  |  |  |  |  |
Benefit cost for plan year | 4.00 | % |  | 4.00 | % |  | 4.00 | % |  | 4.00 | % |  | 4.00 | % |  | 4.00 | %
Benefit obligation at end of plan year | 4.00 | % |  | 4.00 | % |  | 4.00 | % |  | 4.00 | % |  | 4.00 | % |  | 4.00 | %
Healthcare cost trend rate | N/A |  | N/A |  | N/A |  | 6.97 | % |  | 6.97 | % |  | 6.17 | %
Benefit Obligations, Plan Assets, And Funded Status | The following table reflects the changes in benefit obligations and plan assets in fiscal years 2024 and 2023, as well as the funded status of the plans at March 31, 2024 and 2023:
| Pension Benefits |  | Other Postretirement Benefits
| March 31, |  | March 31,
| 2024 |  | 2023 |  | 2024 |  | 2023
Actuarial present value of benefit obligation: |  |  |  |  |  |  |
Accumulated benefit obligation | $ | 231,685 |  |  | $ | 235,540 |  |  |  |  |
Projected benefit obligation | 237,626 |  |  | 241,399 |  |  | $ | 20,077 |  |  | $ | 20,716 |
Change in projected benefit obligation: |  |  |  |  |  |  |
Projected benefit obligation, beginning of year | $ | 241,399 |  |  | $ | 277,050 |  |  | $ | 20,716 |  |  | $ | 24,957 |
Service cost | 5,214 |  |  | 6,172 |  |  | 239 |  |  | 115 |
Interest cost | 11,566 |  |  | 9,670 |  |  | 1,049 |  |  | 944 |
Effect of discount rate change | (5,147) |  |  | (31,621) |  |  | (255) |  |  | (1,906) |
Foreign currency exchange rate changes | (298) |  |  | (543) |  |  | 30 |  |  | (145) |
Other | 2,197 |  |  | (2,120) |  |  | 589 |  |  | (659) |
Benefit payments | (17,305) |  |  | (17,209) |  |  | (2,291) |  |  | (2,590) |
Projected benefit obligation, end of year | $ | 237,626 |  |  | $ | 241,399 |  |  | $ | 20,077 |  |  | $ | 20,716 |
Change in plan assets: |  |  |  |  |  |  |
Plan assets at fair value, beginning of year | $ | 221,953 |  |  | $ | 256,013 |  |  | $ | 2,257 |  |  | $ | 2,706 |
Actual return on plan assets | 11,666 |  |  | (20,613) |  |  | 174 |  |  | 73 |
Employer contributions | 4,257 |  |  | 4,038 |  |  | 1,794 |  |  | 2,068 |
Foreign currency exchange rate changes | (235) |  |  | (276) |  |  | — |  |  | — |
Benefit payments | (17,305) |  |  | (17,209) |  |  | (2,291) |  |  | (2,590) |
Plan assets at fair value, end of year | $ | 220,336 |  |  | $ | 221,953 |  |  | $ | 1,934 |  |  | $ | 2,257 |
Funded status: |  |  |  |  |  |  |
Funded status of the plans, end of year | $ | (17,290) |  |  | $ | (19,446) |  |  | $ | (18,143) |  |  | $ | (18,459) |
Funded Status In Consolidated Balance Sheets | The funded status of the Company’s plans at the end of fiscal years 2024 and 2023 was reported in the consolidated balance sheets as follows:
| Pension Benefits |  | Other Postretirement Benefits
| March 31, |  | March 31,
| 2024 |  | 2023 |  | 2024 |  | 2023
Noncurrent assets (included in Pension asset) | $ | 11,857 |  |  | $ | 9,984 |  |  | $ | — |  |  | $ | — |
Current liability (included in Accrued expenses and other current liabilities) | (2,344) |  |  | (3,352) |  |  | (1,695) |  |  | (1,768) |
Noncurrent liability (reported as Pensions and other postretirement benefits) | (26,803) |  |  | (26,078) |  |  | (16,448) |  |  | (16,691) |
Amounts recognized in the consolidated balance sheets | $ | (17,290) |  |  | $ | (19,446) |  |  | $ | (18,143) |  |  | $ | (18,459) |
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, 2024 and 2023, is as follows:
| Pension Benefits |  | Other Postretirement Benefits
| March 31, |  | March 31,
| 2024 |  | 2023 |  | 2024 |  | 2023
For plans with a projected benefit obligation in excess of plan assets: |  |  |  |  |  |  |
Aggregate projected benefit obligation (PBO) | $ | 36,842 |  |  | $ | 29,430 |  |  | $ | 20,078 |  |  | $ | 20,716 |
Aggregate fair value of plan assets | — |  |  | — |  |  | 1,934 |  |  | 2,257 |
For plans with an accumulated benefit obligation in excess of plan assets: |  |  |  |  |  |  |
Aggregate accumulated benefit obligation (ABO) | 35,640 |  |  | 28,487 |  |  | N/A |  | N/A
Aggregate fair value of plan assets | — |  |  | — |  |  | 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,
| 2024 |  | 2023 |  | 2022 |  | 2024 |  | 2023 |  | 2022
Components of net periodic benefit cost: |  |  |  |  |  |  |  |  |  |  |
Service cost | $ | 5,214 |  |  | $ | 6,172 |  |  | $ | 6,674 |  |  | $ | 239 |  |  | $ | 115 |  |  | $ | 170 |
Interest cost | 11,566 |  |  | 9,670 |  |  | 8,754 |  |  | 1,049 |  |  | 944 |  |  | 950 |
Expected return on plan assets | (15,504) |  |  | (13,630) |  |  | (13,562) |  |  | (63) |  |  | (76) |  |  | (86) |
Net amortization and deferral | 659 |  |  | 2,038 |  |  | 1,679 |  |  | (791) |  |  | (737) |  |  | (422) |
Net periodic benefit cost | $ | 1,935 |  |  | $ | 4,250 |  |  | $ | 3,545 |  |  | $ | 434 |  |  | $ | 246 |  |  | $ | 612 |
Recognized In Accumulated Other Comprehensive Income (Loss) On Pretax Basis | The amounts recognized in other comprehensive income or loss for fiscal years 2024 and 2023 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,
| 2024 |  | 2023 |  | 2024 |  | 2023
Change in net actuarial loss (gain): |  |  |  |  |  |  |
Net actuarial loss (gain), beginning of year | $ | 64,114 |  |  | $ | 67,280 |  |  | $ | (8,332) |  |  | $ | (6,681) |
Losses (gains) arising during the year | 107 |  |  | (98) |  |  | 377 |  |  | (2,223) |
Amortization included in net periodic benefit cost during the year | (793) |  |  | (3,068) |  |  | 786 |  |  | 572 |
Net actuarial loss (gain), end of year | 63,428 |  |  | 64,114 |  |  | (7,169) |  |  | (8,332) |
Change in prior service cost (benefit): |  |  |  |  |  |  |
Prior service cost (benefit), beginning of year | (457) |  |  | (1,487) |  |  | (36) |  |  | (201) |
Prior service cost (benefit) arising during the year | 692 |  |  | — |  |  | — |  |  | — |
Amortization included in net periodic benefit cost during the year | 134 |  |  | 1,030 |  |  | 5 |  |  | 165 |
Prior service cost (benefit), end of year | 369 |  |  | (457) |  |  | (31) |  |  | (36) |
Total amounts in accumulated other comprehensive loss at end of year, before income taxes | $ | 63,797 |  |  | $ | 63,657 |  |  | $ | (7,200) |  |  | $ | (8,368) |
Amounts in the above table reflect the Company and its consolidated subsidiaries. The accumulated other comprehensive loss reported in the consolidated balance sheets also includes pension and other postretirement benefit amounts related to ownership interests in unconsolidated affiliates.
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, 2024 measurement date and the actual asset allocations at the March 31, 2024 and 2023 measurement dates by major asset category were as follows:
|  |  |  |  |  |  | Actual Allocation
| Target Allocation |  |  |  |  |  | March 31,
Major Asset Category |  | Range |  | 2024 |  | 2023
Equity securities | 29.0 | % |  | 19 | % | - | 39% |  | 26.7 | % |  | 27.5 | %
Fixed income securities (1) | 66.0 | % |  | 56 | % | - | 76% |  | 67.3 | % |  | 66.0 | %
Alternative investments | 5.0 | % |  | 0 | % | - | 10% |  | 6.0 | % |  | 6.5 | %
Total | 100.0 | % |  |  |  |  |  | 100.0 | % |  | 100.0 | %
Expected Future Benefit Payments | Estimated future benefit payments to be made from the Company’s plans are as follows:
| Pension Benefits |  | Other Postretirement Benefits
Fiscal Year |  |  |
2025 | $ | 17,126 |  |  | $ | 2,100 |
2026 | 18,141 |  |  | 1,929 |
2027 | 23,644 |  |  | 1,856 |
2028 | 19,017 |  |  | 1,774 |
2029 | 17,345 |  |  | 1,681 |
2030 - 2033 | 85,512 |  |  | 7,729 |
Fair Values Of The Assets Under Fair Value Hierarchy | Fair values of the assets of the Company’s pension plans as of March 31, 2024 and 2023, classified based on how their values were determined under the fair value hierarchy are as follows:
| March 31, 2024
| Level 1 |  | Level 2 |  | Level 3 |  | Total
Equity securities | $ | 56,243 |  |  | $ | — |  |  | $ | — |  |  | $ | 56,243 |
Fixed income securities (1) | 143,740 |  |  | — |  |  | 7,695 |  |  | 151,435 |
Alternative investments | — |  |  | — |  |  | 12,658 |  |  | 12,658 |
Total investments | $ | 199,983 |  |  | $ | — |  |  | $ | 20,353 |  |  | $ | 220,336 |
| March 31, 2023
| Level 1 |  | Level 2 |  | Level 3 |  | Total
Equity securities | $ | 58,745 |  |  | $ | — |  |  | $ | — |  |  | $ | 58,745 |
Fixed income securities (1) | 142,335 |  |  | — |  |  | 6,917 |  |  | 149,252 |
Alternative investments | — |  |  | — |  |  | 13,956 |  |  | 13,956 |
Total investments | $ | 201,080 |  |  | $ | — |  |  | $ | 20,873 |  |  | $ | 221,953 |
(1)Includes high yield securities and cash and cash equivalent balances.

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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 -Topic 715 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 5 -Subparagraph (j) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480506/715-20-50-5 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 715 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (k) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480506/715-20-50-1 + Details
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- Definition Tabular disclosure of one or more of the entity's defined benefit pension plans or one or more other defined benefit postretirement plans, separately for pension plans and other postretirement benefit plans including the entity's schedule of fair value of plan assets for defined benefit or other postretirement plans. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 715 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 5 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480506/715-20-50-5 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 1 -SubTopic 20 -Topic 715 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480506/715-20-50-1 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 55 -Paragraph 17 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480482/715-20-55-17 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480506/715-20-50-3 Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 4 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480506/715-20-50-4 Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480506/715-20-50-2 + Details
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