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Income Taxes (Tables)

12 Months Ended

Mar. 31, 2021

Investments, Owned, Federal Income Tax Note [Line Items]

Schedule of Unrecognized Tax Benefits Roll Forward

Changes in the Company’s uncertain income tax positions, excluding the related accrual for interest and penalties, are as follows:

						2021						2020						2019
Beginning balance						$	132					$	936					$	592
Additions for tax positions of the current year						—						—						550
Reductions for prior year tax positions						—						(802)						(141)
Foreign currency translation						9						(2)						(65)
Lapses in statutes of limitation						—						—						—
Ending balance						$	141					$	132					$	936

Schedule of Classification of Deferred Income Taxes in Consolidated Balance Sheet

Deferred income taxes are classified within the consolidated balance sheets based on the following breakdown:

						March 31,
						2021						2020
Net non-current deferred tax assets						$	20,080					$	26,281
Net non-current deferred tax liabilities						(17,600)						(18,213)
Net deferred tax assets (liabilities)						$	2,480					$	8,068

Schedule of Deferred Tax Assets and Liabilities

The tax effects of temporary differences that give rise to significant portions of the deferred tax assets and deferred tax liabilities are as follows:

						March 31,
						2021						2020
Deferred tax assets:
Federal net operating loss carryforwards						$	16,038					$	18,091
State and foreign net operating loss carryforwards						7,404						7,142
Employee benefit plans						24,692						31,471
Insurance reserves						3,488						3,216
Accrued vacation and incentive costs						3,061						3,218
Federal tax credit carryforwards						13,238						11,922
ASC 842 Lease Liability						8,623						9,048
Equity compensation						2,782						1,974
Other						7,308						7,319
Valuation allowance						(15,103)						(15,036)
Deferred tax assets after valuation allowance						71,531						78,365
Deferred tax liabilities:
Property, plant, and equipment						(1,889)						(1,962)
ASC 842 Right-of-Use Asset						(8,446)						(8,938)
Intangible assets						(58,716)						(59,397)
Total deferred tax liabilities						(69,051)						(70,297)
Net deferred tax assets (liabilities)						$	2,480					$	8,068

Schedule of Components of Income Tax Expense (Benefit)

The sources and tax effects of the differences were as follows: 

						Year Ended March 31,
						2021						2020						2019
Statutory federal income tax rate						21.00		%				21.00		%				21.00		%
Expected tax at statutory rate						$	2,116					$	16,203					$	11,108
Effect of Tax Reform Act (1)						—						—						(1,500)
State income taxes net of federal benefit						(450)						1,397						1,728
Foreign taxes at rates other than statutory federal rate						287						1,102						(145)
Net loss on sale of businesses (3)						—						—						4,041
Permanent items (6), (7)						178						266						(1,694)
Valuation allowance (2), (4)						84						(1,184)						13,190
Foreign tax credits (2)						—						—						(15,371)
Federal tax credits (5)						(700)						(1,903)						(1,376)
Other (8)						(545)						1,603						340
Actual tax provision expense						$	970					$	17,484					$	10,321

(1) For fiscal 2019, represents the discrete benefit of the reduction of the one-time transition tax of $1,500,000 recorded in fiscal 2018 to zero.

(2) For fiscal 2019, primarily represents foreign tax credits generated by the one-time transition tax calculation and valuation allowance as the Company believes their utilization is uncertain.

(3) For fiscal 2019, represents losses on sales of businesses that are not deductible for income tax purposes.

(4) For fiscal 2020, represents the reversal of a valuation allowance on certain foreign tax credits offset by increases in valuation allowances required in certain foreign jurisdiction.

(5) For fiscal 2021, Federal tax credits include research and development credits of $700,000. For fiscal 2020, Federal tax credits include research and development credits of $800,000 and minimum tax credits of $1,103,000. For fiscal 2019, Federal tax credits relate to research and development credits.

(6) For fiscal 2019, permanent items include a FDII deduction of $945,000.

(7) For fiscal 2020, permanent items include a net GILTI inclusion of $525,000 and a FDII deduction of $1,029,000.

(8) For fiscal 2021, Other primarily relates to adjustments for previously estimated tax expenses.

The provision for income tax expense (benefit) consisted of the following:

						Year Ended March 31,
						2021						2020						2019
Current income tax expense (benefit):
United States Federal						$	810					$	(2,491)					$	(1,663)
State taxes						618						626						394
Foreign						8,246						11,984						12,548
Deferred income tax expense (benefit):
United States						(5,996)						7,827						5,873
Foreign						(2,708)						(462)						(6,831)
						$	970					$	17,484					$	10,321

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