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Derivative Instruments and Hedging Activities (Tables) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended
--- | --- | ---
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2022 | Dec. 31, 2021
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, 2022 |  | March 31, 2022
Foreign exchange contracts | Prepaid expenses and other |  | $ | 205 |  |  | $ | — |
Foreign exchange contracts | Accrued liabilities |  | (91) |  |  | (217) |
Interest rate swap | Prepaid expenses and other |  | 8,268 |  |  | 859 |
Interest rate swap | Other assets |  | 5,193 |  |  | 4,512 |
Interest rate swap | Accrued liabilities |  | (599) |  |  | (1,371) |
Interest rate swap | Other non current liabilities |  | — |  |  | (387) |
Cross currency swap | Prepaid expenses and other |  | 495 |  |  | — |
Cross currency swap | Accrued liabilities |  | — |  |  | (170) |
Cross currency swap | Other non current liabilities |  | (1,800) |  |  | (8,543) |
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, 2022 and 2021 (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, 2022 | Foreign exchange contracts | $ | 137 |  | Cost of products sold | $ | (64) |
December 31, 2022 | Interest rate swaps | 1,018 |  | Interest expense | 1,170 |
December 31, 2022 | Cross currency swaps | (6,004) |  | Foreign currency exchange (gain) loss | (7,916) |
December 31, 2021 | Foreign exchange contracts | (37) |  | Cost of products sold | (13) |
December 31, 2021 | Interest rate swap | 546 |  | Interest expense | (426) |
December 31, 2021 | Cross currency swaps | 1,848 |  | Foreign currency exchange (gain) loss | 2,386 |
The following is the effect of derivative instruments on the Condensed Consolidated Statements of Operations for the nine months ended December 31, 2022 and 2021 (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, 2022 | Foreign exchange contracts | $ | 89 |  | Cost of products sold | $ | (153) |
December 31, 2022 | Interest rate swaps | 7,423 |  | Interest expense | 488 |
December 31, 2022 | Cross currency swaps | 5,623 |  | Foreign currency exchange (gain) loss | 3,464 |
December 30, 2021 | Foreign exchange contracts | (51) |  | Cost of products sold | (42) |
December 30, 2021 | Interest rate swap | (315) |  | Interest expense | (1,220) |
December 31, 2021 | Cross currency swaps | 1,358 |  | Foreign currency exchange (gain) loss | 4,743 |
Designated as Hedging Instrument | Foreign exchange contracts |  |  |  |
Derivatives, Fair Value [Line Items] |  |  |  |
Derivative Instruments, Gain (Loss) Reclassified from Accumulated OCI into Income, Effective Portion, Net | $ (64) | $ (13) | $ (153) | $ (42)
Designated as Hedging Instrument | Interest Rate Swap [Member] |  |  |  |
Derivatives, Fair Value [Line Items] |  |  |  |
Derivative Instruments, Gain (Loss) Reclassified from Accumulated OCI into Income, Effective Portion, Net | 1,170 | (426) | 488 | (1,220)
Designated as Hedging Instrument | Cross Currency Interest Rate Contract [Member] |  |  |  |
Derivatives, Fair Value [Line Items] |  |  |  |
Derivative Instruments, Gain (Loss) Reclassified from Accumulated OCI into Income, Effective Portion, Net | $ (7,916) | $ 2,386 | $ 3,464 | $ 4,743

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- Definition Tabular disclosure of the location and amount of derivative instruments and nonderivative instruments designated as hedging instruments reported before netting adjustments, and the amount of gain (loss) on derivative instruments and nonderivative instruments designated and qualified as hedging instruments. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4E -URI https://asc.fasb.org/extlink&oid=125515794&loc=SL5624181-113959 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4A -Subparagraph (b) -URI https://asc.fasb.org/extlink&oid=125515794&loc=SL5618551-113959 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4C -URI https://asc.fasb.org/extlink&oid=125515794&loc=SL5624171-113959 + Details
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