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Employee Benefit Plans (Tables)

12 Months Ended

Mar. 31, 2017

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Summary of share-based compensation expense and related tax benefit recognized

The following table summarizes share-based compensation expense and related tax benefit recognized for fiscal years 2017, 2016 and 2015 (in thousands):

		Years Ended March 31,
		2017				2016				2015
Cost of goods sold		$	2,663			$	2,340			$	2,474
Marketing and selling		14,723				9,273				8,570
Research and development		4,200				3,046				2,381
General and administrative		14,304				12,353				10,766
Restructuring		—				7				—
Total share-based compensation expense		35,890				27,019				24,191
Income tax benefit		(8,536		)		(6,297		)		(4,814		)
Total share-based compensation expense, net of income tax		$	27,354			$	20,722			$	19,377

Summary of unamortized share-based compensation expense and the remaining months over which such expense is expected to be recognized

The following table summarizes total unamortized share-based compensation expense and the remaining months over which such expense is expected to be recognized, on a weighted-average basis by type of grant (in thousands, except number of months):

		March 31, 2017
		Unamortized Expense				Remaining Months
ESPP		$	1,191			4
Time-based RSUs		36,172				21
Market-based and performance-based RSUs		9,241				17
		$	46,604

Schedule of assumptions applied for the fair value of market-based RSUs using the Monte-Carlo simulation method

The grant date fair value of the awards using the Black-Scholes-Merton option-pricing valuation model and Monte-Carlo simulation method are determined with the following assumptions and values:

Employee Stock Purchase Plans		Years Ended March 31,
		2017				2016				2015
Dividend yield		2.50		%		3.47		%		1.97		%
Risk-free interest rate		0.51		%		0.29		%		0.14		%
Expected volatility		35		%		26		%		30		%
Expected life (years)		0.5				0.5				0.6
Weighted average fair value		$	5.73			$	3.29			$	3.18

Market-based RSUs		Years Ended March 31,
		2017			2016			2015
Dividend yield		3.29	%		3.78	%		1.86	%
Risk-free interest rate		0.86	%		0.84	%		0.83	%
Expected volatility		34	%		38	%		46	%
Expected life (years)		3.0			3.0			3.0

Summary of stock option activity

A summary of the Company's stock option activities under all stock plans for fiscal years 2017, 2016 and 2015 is as follows (including discontinued operations for fiscal year 2015 and 2016):

		Number of Shares			Weighted-Average Exercise Price				Weighted-Average Remaining Contractual Term		Aggregate Intrinsic Value
		(In thousands)							(Years)		(In thousands)
Outstanding, March 31, 2014		9,816
Granted		—
Exercised		(390	)								$	1,505
Cancelled or expired		(1,550	)
Outstanding, March 31, 2015		7,876
Granted		—
Exercised		(746	)								$	4,026
Cancelled or expired		(1,796	)
Outstanding, March 31, 2016		5,334			$	18
Granted		—			$	—
Exercised		(1,784	)		$	16					$	14,627
Cancelled or expired		(500	)		$	23
Outstanding, March 31, 2017		3,050			$	18			3.6		$	41,853
Vested and expected to vest, March 31, 2017		3,050			$	18			3.6		$	41,853
Vested and exercisable, March 31, 2017		3,050			$	18			3.6		$	41,853

Summary of time- and performance-based RSU activity

A summary of the Company's time-based, market-based, and performance-based RSU activities for fiscal years 2017, 2016 and 2015 is as follows (including discontinued operations for all the periods presented):

		Number of Shares			Weighted-Average Grant Date Fair Value				Weighted-Average Remaining Vesting Period		Aggregate Fair Value
		(In thousands)							(Years)		(In thousands)
Outstanding, March 31, 2014		6,088			$	10
Granted—time-based		1,332			$	13
Granted—market-based		523			$	13
Granted - performance-based		55			$	12
Vested		(1,949	)		$	10					$	27,844
Cancelled or expired		(1,110	)		$	11
Outstanding, March 31, 2015		4,939			$	11
Granted—time-based		2,247			$	13
Granted—market-based		356			$	14
Granted - performance-based		356			$	13
Vested		(1,557	)		$	10					$	22,823
Cancelled or expired		(820	)		$	12
Outstanding, March 31, 2016		5,521			$	11
Granted—time-based		2,390			$	16
Granted—market-based		160			$	15
Granted - performance-based		604			$	15
Vested		(2,126	)		$	11					$	48,644
Cancelled or expired		(368	)		$	14
Outstanding, March 31, 2017		6,181			$	14			1.2		$	196,983
Expected to vest, March 31, 2017		4,859			$	14			1.2		$	154,846

Schedule of net periodic benefit costs

The net periodic benefit cost of the defined benefit pension plans and the non-retirement post-employment benefit obligations for fiscal years 2017, 2016 and 2015 was as follows (in thousands):

		Years Ended March 31,
		2017				2016				2015
Service costs		$	10,385			$	10,117			$	7,646
Interest costs		800				1,147				1,970
Expected return on plan assets		(1,724		)		(1,657		)		(2,084		)
Amortization:
Net transition obligation		4				4				4
Net prior service costs (credit) recognized		(117		)		(124		)		(45		)
Net actuarial loss recognized		1,032				1,854				301
Settlement and curtailment		—				—				(13		)
		$	10,380			$	11,341			$	7,779

Schedule of changes in projected benefit obligations

The changes in projected benefit obligations for fiscal years 2017 and 2016 were as follows (in thousands):

		Years Ended March 31,
		2017				2016
Projected benefit obligations, beginning of the year		$	120,473			$	113,323
Service costs		10,385				10,117
Interest costs		800				1,147
Plan participant contributions		3,020				2,990
Actuarial (gains) losses		(11,081		)		(2,496		)
Benefits paid		(5,214		)		(5,277		)
Plan amendment related to statutory change		65				—
Administrative expense paid		(132		)		—
Currency exchange rate changes		(3,676		)		669
Projected benefit obligations, end of the year		$	114,640			$	120,473

Schedule of changes in the fair value of defined benefit pension plan assets

The following table presents the changes in the fair value of defined benefit pension plan assets for fiscal years 2017 and 2016 (in thousands):

		Years Ended March 31,
		2017				2016
Fair value of plan assets, beginning of the year		$	65,279			$	60,910
Actual return on plan assets		4,733				(1,160		)
Employer contributions		5,865				7,171
Plan participant contributions		3,020				2,990
Benefits paid		(5,214		)		(5,277		)
Administrative expenses paid		(132		)		—
Currency exchange rate changes		(2,175		)		645
Fair value of plan assets, end of the year		$	71,376			$	65,279

Schedule of fair value of the defined benefit pension plan assets by major categories and by levels within the fair value hierarchy

The following tables present the fair value of the defined benefit pension plan assets by major categories and by levels within the fair value hierarchy as of March 31, 2017 and 2016 (in thousands):

		March 31,
		2017												2016
		Level 1				Level 2				Total				Level 1				Level 2				Total
Cash and cash equivalents		$	11,864			$	46			$	11,910			$	9,268			$	47			$	9,315
Equity securities		20,985				—				20,985				18,640				—				18,640
Debt securities		22,373				—				22,373				21,781				—				21,781
Swiss real estate funds		9,699				—				9,699				9,622				—				9,622
Hedge funds		—				3,507				3,507				—				3,492				3,492
Insurance contracts		—				61				61				—				94				94
Other		2,654				187				2,841				2,195				140				2,335
		$	67,575			$	3,801			$	71,376			$	61,506			$	3,773			$	65,279

Schedule of net funded status

The funded status of the plans was as follows (in thousands):

		Years Ended March 31,
		2017				2016
Fair value of plan assets		$	71,376			$	65,279
Less: projected benefit obligations		114,640				120,473
Under funded status		$	(43,264	)		$	(55,194	)

Schedule of amounts recognized on the balance sheet for the plans

Amounts recognized on the balance sheet for the plans were as follows (in thousands):

		March 31,
		2017				2016
Current liabilities		$	(1,266	)		$	(1,285	)
Non-current liabilities		(41,998		)		(53,909		)
Net liabilities		$	(43,264	)		$	(55,194	)

Schedule of amounts recognized in other comprehensive income (loss)

Amounts recognized in accumulated other comprehensive loss related to defined benefit pension plans were as follows (in thousands):

		March 31,
		2017				2016				2015
Net prior service credits		$	1,274			$	1,613			$	1,672
Net actuarial loss		(11,407		)		(27,612		)		(28,751		)
Net transition obligation		—				(4		)		(8		)
Accumulated other comprehensive loss		(10,133		)		(26,003		)		(27,087		)
Deferred tax benefit		(347		)		(168		)		123
Accumulated other comprehensive loss, net of tax		$	(10,480	)		$	(26,171	)		$	(26,964	)

Schedule of amounts in accumulated other comprehensive income (loss) to be recognized over next fiscal year

The following table presents the amounts included in accumulated other comprehensive loss as of March 31, 2017, which are expected to be recognized as a component of net periodic benefit cost in fiscal year 2018 (in thousands):

		Year Ending March 31, 2018
Amortization of net prior service credits		$	(107	)
Amortization of net actuarial loss		306
		$	199

Schedule of actuarial assumptions for the pension plans

The Company reassesses its benefit plan assumptions on a regular basis. The actuarial assumptions for the defined benefit plans for fiscal years 2017 and 2016 were as follows:

		Years Ended March 31,
		2017		2016
Benefit Obligations:
Discount rate		0.75%-7.00%		0.5%-8.00%
Estimated rate of compensation increase		2.5%-10.00%		2.50%-10.00%
Periodic Costs:
Discount rate		0.5%-8.00%		0.75%-7.75%
Estimated rate of compensation increase		2.5%-10.00%		0.0%-8.00%
Expected average rate of return on plan assets		1.0%-2.75%		1.00%-2.75%

Schedule of expected benefit payments

The following table reflects the benefit payments that the Company expects the plans to pay in the periods noted (in thousands):

Years Ending March 31,
2018		$	5,006
2019		5,408
2020		5,720
2021		5,291
2022		5,595
2023-2027		30,614
		$	57,634

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