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Employee Benefit Plans (Tables)

12 Months Ended

Mar. 31, 2018

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 total income tax provision (benefit) recognized for fiscal years 2018, 2017 and 2016 (in thousands):

		Years Ended March 31,
		2018				2017				2016
Cost of goods sold		$	3,733			$	2,663			$	2,340
Marketing and selling		17,765				14,723				9,273
Research and development		6,381				4,200				3,046
General and administrative		16,259				14,304				12,353
Restructuring		—				—				7
Total share-based compensation expense		44,138				35,890				27,019
Income tax benefit		(15,998		)		(8,536		)		(6,297		)
Total share-based compensation expense, net of income tax benefit		$	28,140			$	27,354			$	20,722

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, 2018
		Unamortized Expense				Remaining Months
ESPP		$	1,337			4
Time-based RSUs		56,723				21
Market-based and performance-based RSUs		13,620				23
		$	71,680

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,
		2018				2017				2016
Dividend yield		1.67		%		2.50		%		3.47		%
Risk-free interest rate		1.37		%		0.51		%		0.29		%
Expected volatility		27		%		35		%		26		%
Expected life (years)		0.5				0.5				0.5
Weighted average grant date fair value per share		$	8.69			$	5.73			$	3.29

RSUs with Market Conditions		Years Ended March 31,
		2018			2017			2016
Dividend yield		1.75	%		3.29	%		3.78	%
Risk-free interest rate		1.40	%		0.86	%		0.84	%
Expected volatility		31	%		34	%		38	%
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 2018, 2017 and 2016 is as follows (including discontinued operations for fiscal year 2016):

		Number of Shares			Weighted-Average Exercise Price				Weighted-Average Remaining Contractual Term		Aggregate Intrinsic Value
		(In thousands)							(Years)		(In thousands)
Outstanding, March 31, 2015		7,876
Granted		—
Exercised		(746	)								$	4,026
Canceled or expired		(1,796	)
Outstanding, March 31, 2016		5,334
Granted		—
Exercised		(1,784	)								$	14,627
Canceled or expired		(500	)
Outstanding, March 31, 2017		3,050			$	18
Granted		—			—
Exercised		(994	)		$	28					$	8,347
Canceled or expired		(16	)		$	35
Outstanding, March 31, 2018		2,040			$	14			4.0		$	46,630
Vested and exercisable, March 31, 2018		2,040			$	14			4.0		$	46,630

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 2018, 2017 and 2016 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, 2015		4,939
Granted—time-based		2,247			$	13
Granted—market-based		356			$	14
Granted - performance-based		356			$	13
Vested		(1,557	)								$	22,823
Canceled or expired		(820	)
Outstanding, March 31, 2016		5,521
Granted—time-based		2,390			$	16
Granted—market-based		160			$	15
Granted - performance-based		604			$	15
Vested		(2,126	)								$	48,644
Canceled or expired		(368	)
Outstanding, March 31, 2017		6,181			$	14
Granted—time-based		1,212			$	33
Granted—market and performance based		409			$	33
Vested		(2,248	)		$	14					$	81,582
Canceled or expired		(333	)		$	17
Outstanding, March 31, 2018		5,221			$	20			1.4		$	191,777

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 2018, 2017 and 2016 was as follows (in thousands):

		Years Ended March 31,
		2018				2017				2016
Service costs		$	9,715			$	10,385			$	10,117
Interest costs		1,126				800				1,147
Expected return on plan assets		(1,792		)		(1,724		)		(1,657		)
Amortization:
Net transition obligation		—				4				4
Net prior service credit recognized		(51		)		(117		)		(124		)
Net actuarial loss recognized		242				1,032				1,854
		$	9,240			$	10,380			$	11,341

Schedule of changes in projected benefit obligations

The changes in projected benefit obligations for fiscal years 2018 and 2017 were as follows (in thousands):

		Years Ended March 31,
		2018				2017
Projected benefit obligations, beginning of the year		$	114,640			$	120,473
Service costs		9,715				10,385
Interest costs		1,126				800
Plan participant contributions		3,522				3,020
Actuarial gains		(1,580		)		(11,081		)
Benefits paid		(1,202		)		(5,214		)
Plan amendment related to statutory change		(2,519		)		65
Administrative expense paid		(144		)		(132		)
Currency exchange rate changes		5,357				(3,676		)
Projected benefit obligations, end of the year		$	128,915			$	114,640

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 2018 and 2017 (in thousands):

		Years Ended March 31,
		2018				2017
Fair value of plan assets, beginning of the year		$	71,376			$	65,279
Actual return on plan assets		1,824				4,733
Employer contributions		5,995				5,865
Plan participant contributions		3,522				3,020
Benefits paid		(1,202		)		(5,214		)
Administrative expenses paid		(144		)		(132		)
Currency exchange rate changes		3,347				(2,175		)
Fair value of plan assets, end of the year		$	84,718			$	71,376

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, 2018 and 2017 (in thousands):

		March 31,
		2018												2017
		Level 1				Level 2				Total				Level 1				Level 2				Total
Cash and cash equivalents		$	18,331			$	24			$	18,355			$	11,864			$	46			$	11,910
Equity securities		26,204				—				26,204				20,985				—				20,985
Debt securities		25,150				—				25,150				22,373				—				22,373
Swiss real estate funds		12,096				—				12,096				9,699				—				9,699
Hedge funds		—				—				—				—				3,507				3,507
Insurance contracts		—				32				32				—				61				61
Other		2,623				258				2,881				2,654				187				2,841
		$	84,404			$	314			$	84,718			$	67,575			$	3,801			$	71,376

Schedule of net funded status

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

		Years Ended March 31,
		2018				2017
Fair value of plan assets		$	84,718			$	71,376
Less: projected benefit obligations		128,915				114,640
Underfunded status		$	(44,197	)		$	(43,264	)

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,
		2018				2017
Current liabilities		$	(1,763	)		$	(1,266	)
Non-current liabilities		(42,434		)		(41,998		)
Net liabilities		$	(44,197	)		$	(43,264	)

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,
		2018				2017				2016
Net prior service credits		$	3,843			$	1,274			$	1,613
Net actuarial loss		(9,821		)		(11,407		)		(27,612		)
Net transition obligation		—				—				(4		)
Accumulated other comprehensive loss		(5,978		)		(10,133		)		(26,003		)
Deferred tax benefit		(420		)		(347		)		(168		)
Accumulated other comprehensive loss, net of tax		$	(6,398	)		$	(10,480	)		$	(26,171	)

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, 2018, which are expected to be recognized as a component of net periodic benefit cost in fiscal year 2019 (in thousands):

		Year Ending March 31, 2019
Amortization of net prior service credits		$	(381	)
Amortization of net actuarial loss		95
		$	(286	)

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 2018 and 2017 were as follows:

		Years Ended March 31,
		2018		2017
Benefit Obligations:
Discount rate		0.85%-7.5%		0.75%-7.00%
Estimated rate of compensation increase		2.25%-10.00%		2.5%-10.00%
Periodic Costs:
Discount rate		0.75%-7.00%		0.5%-8.00%
Estimated rate of compensation increase		2.5%-10.00%		2.5%-10.00%
Expected average rate of return on plan assets		1.0%-2.5%		1.0%-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,
2019		$	7,199
2020		7,701
2021		7,046
2022		7,341
2023		7,064
2024-2028		38,546
		$	74,897

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