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Derivative Instruments and Hedging Activities (Tables) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended
--- | --- | ---
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2020 | Dec. 31, 2019
Derivatives, Fair Value [Line Items] |  |  |  |
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value |  |  | The following is information relative to the Company’s derivative instruments in the Condensed Consolidated Balance Sheets (in thousands):
|  |  | Fair Value of Asset (Liability)
Derivatives Designated as Hedging Instruments | Balance Sheet Location |  | December 31, 2020 |  | March 31, 2020
Foreign exchange contracts | Prepaid expenses and other |  | $ | 11 |  |  | $ | 318 |
Foreign exchange contracts | Accrued liabilities |  | — |  |  | (33) |
Interest rate swap | Accrued liabilities |  | (1,294) |  |  | (1,402) |
Interest rate swap | Other non current liabilities |  | (1,218) |  |  | (1,894) |
Cross currency swap | Prepaid expenses and other |  | — |  |  | 1,750 |
Cross currency swap | Accrued liabilities |  | (912) |  |  | — |
Cross currency swap | Other non current liabilities |  | (20,486) |  |  | (5,254) |
Derivative Instruments, Gain (Loss) |  |  | The following is the effect of derivative instruments on the Condensed Consolidated Statements of Operations for the three months ended December 31, 2020 and 2019 (in thousands):
Derivatives Designated as Cash Flow Hedges | Type of Instrument | Amount of Gain or (Loss) Recognized in Other Comprehensive Income (Loss) on Derivatives | Location of Gain or (Loss) Recognized in Income on Derivatives | Amount of Gain or (Loss) Reclassified from AOCL into Income
December 31, 2020 | Foreign exchange contracts | $ | (10) |  | Cost of products sold | $ | 5 |
December 31, 2020 | Interest rate swaps | (127) |  | Interest expense | (403) |
December 31, 2020 | Cross currency swaps | (5,480) |  | Foreign currency exchange (gain) loss | (5,319) |
December 31, 2019 | Foreign exchange contracts | (90) |  | Cost of products sold | 49 |
December 31, 2019 | Interest rate swap | 207 |  | Interest expense | — |
December 31, 2019 | Cross currency swaps | (3,218) |  | Foreign currency exchange (gain) loss | (4,012) |
Derivatives Not Designated as Hedging Instruments | Location of Gain (Loss) Recognized in Income on Derivatives | Amount of Gain (Loss) Recognized in Income on Derivatives
December 31, 2020 | Foreign currency exchange (gain) loss | $ | 1 |
December 31, 2019 | Foreign currency exchange (gain) loss | 20 |
The following is the effect of derivative instruments on the Condensed Consolidated Statements of Operations for the nine months ended December 31, 2020 and 2019 (in thousands):
Derivatives Designated as Cash Flow Hedges | Type of Instrument | Amount of Gain or (Loss) Recognized in Other Comprehensive Income (Loss) on Derivatives | Location of Gain or (Loss) Recognized in Income on Derivatives | Amount of Gain or (Loss) Reclassified from AOCL into Income
December 31, 2020 | Foreign exchange contracts | $ | (171) |  | Cost of products sold | $ | 83 |
December 31, 2020 | Interest rate swaps | (494) |  | Interest expense | (1,090) |
December 31, 2020 | Cross currency swaps | (13,420) |  | Foreign currency exchange (gain) loss | (13,247) |
December 31, 2019 | Foreign exchange contracts | (41) |  | Cost of products sold | 57 |
December 31, 2019 | Interest rate swap | (1,519) |  | Interest expense | 359 |
December 31, 2019 | Cross currency swaps | 2,386 |  | Foreign currency exchange (gain) loss | 512 |
Derivatives Not Designated as Hedging Instruments | Location of Gain (Loss) Recognized in Income on Derivatives | Amount of Gain (Loss) Recognized in Income on Derivatives
December 31, 2020 | Foreign currency exchange (gain) loss | $ | — |
December 31, 2019 | Foreign currency exchange (gain) loss | 13 |
Designated as Hedging Instrument | Foreign exchange contracts |  |  |  |
Derivatives, Fair Value [Line Items] |  |  |  |
Other Comprehensive Income (Loss), Unrealized Gain (Loss) on Derivatives Arising During Period, before Tax | $ (10) | $ (90) | $ (171) | $ (41)
Designated as Hedging Instrument | Foreign exchange contracts | Cost of products sold |  |  |  |
Derivatives, Fair Value [Line Items] |  |  |  |
Derivative Instruments, Gain (Loss) Reclassified from Accumulated OCI into Income, Effective Portion, Net | 5 | 49 | 83 | 57
Designated as Hedging Instrument | Interest Rate Swap [Member] | Interest Expense [Member] |  |  |  |
Derivatives, Fair Value [Line Items] |  |  |  |
Derivative Instruments, Gain (Loss) Reclassified from Accumulated OCI into Income, Effective Portion, Net | (403) | 0 | (1,090) | 359
Designated as Hedging Instrument | Interest Rate Swap [Member] | Cost of products sold |  |  |  |
Derivatives, Fair Value [Line Items] |  |  |  |
Other Comprehensive Income (Loss), Unrealized Gain (Loss) on Derivatives Arising During Period, before Tax | (127) | 207 | (494) | (1,519)
Designated as Hedging Instrument | Cross Currency Interest Rate Contract [Member] | Foreign currency exchange (gain) loss |  |  |  |
Derivatives, Fair Value [Line Items] |  |  |  |
Derivative Instruments, Gain (Loss) Reclassified from Accumulated OCI into Income, Effective Portion, Net | (5,319) | (4,012) | (13,247) | 512
Designated as Hedging Instrument | Cross Currency Interest Rate Contract [Member] | Cost of products sold |  |  |  |
Derivatives, Fair Value [Line Items] |  |  |  |
Other Comprehensive Income (Loss), Unrealized Gain (Loss) on Derivatives Arising During Period, before Tax | (5,480) | (3,218) | (13,420) | 2,386
Derivatives Not Designated as Hedging Instruments | Foreign exchange contracts | Foreign currency exchange (gain) loss |  |  |  |
Derivatives, Fair Value [Line Items] |  |  |  |
Derivative, Gain (Loss) on Derivative, Net | $ 1 | $ 20 | $ 0 | $ 13

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