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Financial Instruments (Tables) | 12 Months Ended
--- | ---
Mar. 31, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
Schedule of Derivative Instruments Outstanding | As of March 31, 2024, the Company had the following outstanding forward foreign exchange contracts (all outstanding contracts have maturities of less than 25 months from March 31, 2024):
March 31, 2024
Foreign Currency |  | Foreign Currency Amount |  | US Dollar Amount |  | Weighted Average Exchange Rate Per $1 USD
|  | (Amounts in millions) |  | (Amounts in millions) |  |
British Pound Sterling |  | 0.5 | GBP | in exchange for | $0.6 |  |  | 0.79 | GBP
Czech Koruna |  | 180.0 | CZK | in exchange for | $7.7 |  |  | 23.29 | CZK
Euro |  | 0.6 | EUR | in exchange for | $0.5 |  |  | 0.91 | EUR
Canadian Dollar |  | 21.4 | CAD | in exchange for | $15.9 |  |  | 1.34 | CAD
Mexican Peso |  | 56.7 | MXN | in exchange for | $3.0 |  |  | 18.95 | MXN
Hungarian Forint |  | 1,450.0 | HUF | in exchange for | $4.0 |  |  | 360.17 | HUF
New Zealand Dollar |  | $73.9 | NZD | in exchange for | $45.3 |  |  | 1.64 | NZD
Designated Cash Flow Hedges. As of March 31, 2024 and March 31, 2023, the Company had the following pay-fixed interest rate swaps, which have been designated as cash flow hedges outstanding (all related to the Company's SOFR-based debt, see Note 7 and Note 8):
Effective Date |  | Notional Amount |  | Fixed Rate Paid |  | Maturity Date |
|  | (in millions) |  |  |  |  |
May 23, 2018 |  | $300.0 |  |  | 2.915% |  | March 24, 2025 |
May 23, 2018 |  | $700.0 |  |  | 2.915% |  | March 24, 2025 | (1)
June 25, 2018 |  | $200.0 |  |  | 2.723% |  | March 23, 2025 | (1)
July 31, 2018 |  | $300.0 |  |  | 2.885% |  | March 23, 2025 | (1)
December 24, 2018 |  | $50.0 |  |  | 2.744% |  | March 23, 2025 | (1)
December 24, 2018 |  | $100.0 |  |  | 2.808% |  | March 23, 2025 | (1)
December 24, 2018 |  | $50.0 |  |  | 2.728% |  | March 23, 2025 | (1)
Total |  | $1,700.0 |  |  |  |  |  |
__________________ (1)Represents the re-designated swaps as described in the May 2022 Transactions section below that were previously not designated cash flow hedges at March 31, 2022.
Schedule of Derivative Instruments, Effect on Statements of Operations And Comprehensive Income | The following table presents the pre-tax effect of the Company's derivatives on the accompanying consolidated statements of operations and comprehensive income (loss) for the years ended March 31, 2024, 2023 and 2022:
| Year Ended
| March 31,
| 2024 |  | 2023 |  | 2022
| (Amounts in millions)
Derivatives designated as cash flow hedges: |  |  |  |  |
Forward exchange contracts |  |  |  |  |
Gain (loss) recognized in accumulated other comprehensive income (loss) | $ | (5.8) |  |  | $ | 1.7 |  |  | $ | 1.7 |
Gain (loss) reclassified from accumulated other comprehensive income (loss) into direct operating expense | (0.3) |  |  | (0.3) |  |  | (0.2) |
Interest rate swaps |  |  |  |  |
Gain recognized in accumulated other comprehensive income (loss) | $ | 36.3 |  |  | $ | 81.1 |  |  | $ | 66.5 |
Gain (loss) reclassified from accumulated other comprehensive income (loss) into interest expense | 41.8 |  |  | 1.4 |  |  | (15.0) |
Derivatives not designated as cash flow hedges: |  |  |  |  |
Interest rate swaps |  |  |  |  |
Loss reclassified from accumulated other comprehensive income (loss) into interest expense | $ | (7.2) |  |  | $ | (11.8) |  |  | $ | (33.8) |
Total direct operating expense on consolidated statements of operations | $ | 2,189.2 |  |  | $ | 2,312.5 |  |  | $ | 2,064.2 |
Total interest expense on consolidated statements of operations | $ | 269.8 |  |  | $ | 221.2 |  |  | $ | 176.0 |
Derivative Instruments by Balance Sheet Location | As of March 31, 2024 and 2023, the Company had the following amounts recorded in the accompanying consolidated balance sheets related to the Company's use of derivatives:
|  | March 31, 2024
|  | Other Current Assets |  | Other Non-Current Assets |  | Other Accrued Liabilities |  |
|  | (Amounts in millions)
Derivatives designated as cash flow hedges: |  |  |  |  |  |  |  |
Forward exchange contracts |  | $ | — |  |  | $ | — |  |  | $ | 2.8 |  |  |
Interest rate swaps |  | 35.6 |  |  | — |  |  | — |  |  |
Fair value of derivatives |  | $ | 35.6 |  |  | $ | — |  |  | $ | 2.8 |  |  |
|  | March 31, 2023
|  | Other Current Assets |  | Other Non-Current Assets |  | Other Accrued Liabilities |  |
|  | (Amounts in millions)
Derivatives designated as cash flow hedges: |  |  |  |  |  |  |  |
Forward exchange contracts |  | $ | 2.9 |  |  | $ | — |  |  | $ | 0.1 |  |  |
Interest rate swaps |  | — |  |  | 41.1 |  |  | — |  |  |
Fair value of derivatives |  | $ | 2.9 |  |  | $ | 41.1 |  |  | $ | 0.1 |  |  |

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- Definition Tabular disclosure of (1) the location and amount of gains and losses reported in the statement of financial performance for derivative instruments not designated as hedging activities (2) the effective portion of the gains and losses on derivative instruments designated as hedging activities recognized in other comprehensive income (loss) during the period and (3) the amount and location of the amount reclassified from accumulated other comprehensive income (loss) during the period to the statement of financial performance. + References No definition available. + Details
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