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Accumulated Other Comprehensive Loss (Tables)

12 Months Ended

Mar. 31, 2023

Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]

Schedule of Accumulated Other Comprehensive Income (Loss)

The components of accumulated other comprehensive loss is as follows:


	March 31,
	2023		2022
Foreign currency translation adjustment – net of tax	$	(32,352)	$	(28,080)
Pension liability – net of tax	(13,736)		(21,794)
Postretirement obligations – net of tax	1,769		1,836
Split-dollar life insurance arrangements – net of tax	(833)		(1,084)
Derivatives qualifying as hedges – net of tax	7,109		(777)

Accumulated other comprehensive loss	$	(38,043)	$	(49,899)

Changes in accumulated other comprehensive income by component are as follows (in thousands):


	March 31, 2023
		Retirement Obligations		Foreign Currency		Change in Derivatives Qualifying as Hedges		Total
Beginning balance net of tax		$	(21,043)	$	(28,079)	$	(777)	(49,899)
Other comprehensive income (loss) before reclassification		7,755		(4,273)		12,385		15,867
Amounts reclassified from other comprehensive loss to net income		488		—		(4,499)		(4,011)
Net current period other comprehensive (loss) income		8,243		(4,273)		7,886		11,856
Ending balance net of tax		$	(12,800)	$	(32,352)	$	7,109	$	(38,043)


	March 31, 2022
		Retirement Obligations		Foreign Currency		Change in Derivatives Qualifying as Hedges		Total
Beginning balance net of tax		$	(37,356)	$	(21,776)	$	(854)	(59,986)
Other comprehensive income (loss) before reclassification		15,398		(6,303)		5,922		15,017
Amounts reclassified from other comprehensive loss to net income		915		—		(5,845)		(4,930)
Net current period other comprehensive (loss) income		16,313		(6,303)		77		10,087
Ending balance net of tax		$	(21,043)	$	(28,079)	$	(777)	$	(49,899)

Reclassification out of Accumulated Other Comprehensive Income

Details of amounts reclassified out of accumulated other comprehensive loss for the year ended March 31, 2023 are as follows (in thousands):


Details of AOCL Components	Amount reclassified from AOCL		Affected line item on consolidated statement of operations






Net pension amount unrecognized
	$	652	(1)
	652		Total before tax
	(164)		Tax benefit
	$	488	Net of tax

Change in derivatives qualifying as hedges
	$	267	Cost of products sold
	(3,144)		Interest expense
	(3,096)		Foreign currency
	(5,973)		Total before tax
	1,474		Tax benefit
	$	(4,499)	Net of tax

(1)These accumulated other comprehensive loss components are included in the computation of net periodic pension cost. (See Note 13 — Pensions and Other Benefit Plans for additional details.)

Details of amounts reclassified out of accumulated other comprehensive loss for the year ended March 31, 2022 are as follows (in thousands):


Details of AOCL Components	Amount reclassified from AOCL		Affected line item on consolidated statement of operations






Net pension amount unrecognized
	$	1,237	(1)
	1,237		Total before tax
	(322)		Tax benefit
	$	915	Net of tax

Change in derivatives qualifying as hedges
	$	85	Cost of products sold
	2,868		Interest expense
	(11,250)		Foreign currency
	(8,297)		Total before tax
	2,452		Tax benefit
	$	(5,845)	Net of tax

(1)These accumulated other comprehensive loss components are included in the computation of net periodic pension cost. (See Note 13 — Pensions and Other Benefit Plans for additional details.)