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Employee Benefit Plans

6 Months Ended

Sep. 30, 2019

Share-based Payment Arrangement [Abstract]

Employee Benefit Plans

Employee Benefit Plans

Employee Share Purchase Plans and Stock Incentive Plans

As of September 30, 2019, the Company offers the 2006 Employee Share Purchase Plan, as amended and restated (Non-U.S.) (2006 ESPP), the 1996 Employee Share Purchase Plan (U.S.), as amended and restated (1996 ESPP), the 2006 Stock Incentive Plan, as amended and restated (2006 Plan), and the 2012 Stock Inducement Equity Plan (2012 Plan).

The following table summarizes the share-based compensation expense and total income tax benefit recognized for share-based awards for the three and six months ended September 30, 2019 and 2018 (in thousands):

		Three Months Ended September 30,							Six Months Ended September 30,
		2019				2018			2019				2018
Cost of goods sold		$	1,184			$	791		$	2,342			$	1,921
Marketing and selling		6,951				4,864			13,800				10,650
Research and development		2,248				1,935			4,402				3,484
General and administrative		3,869				4,459			5,926				9,253
Total share-based compensation expense		14,252				12,049			26,470				25,308
Income tax benefit		(2,723		)		(2,650		)	(9,523		)		(12,179		)
Total share-based compensation expense, net of income tax benefit		$	11,529			$	9,399		$	16,947			$	13,129

The income tax benefit in the respective period primarily consists of tax benefit related to the share-based compensation expense for the period and direct tax benefit realized, including net excess tax benefits recognized from share-based awards vested or exercised during the period.

As of September 30, 2019 and 2018, the balance of capitalized share-based compensation included in inventory was $0.9 million and $0.8 million, respectively.

Defined Benefit Plans

Certain of the Company’s subsidiaries sponsor defined benefit pension plans or non-retirement post-employment benefits covering substantially all of their employees. Benefits are provided based on employees’ years of service and earnings, or in accordance with applicable employee benefit regulations. The Company’s practice is to fund amounts sufficient to meet the requirements set forth in the applicable employee benefit and tax regulations. The costs recorded of $2.4 million and $2.2 million for the three months ended September 30, 2019 and 2018, respectively, and $4.8 million and $4.5 million for the six months ended September 30, 2019 and 2018, respectively, were primarily related to service costs.

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- Definition

The entire disclosure for an entity's employee compensation and benefit plans, including, but not limited to, postemployment and postretirement benefit plans, defined benefit pension plans, defined contribution plans, non-qualified and supplemental benefit plans, deferred compensation, share-based compensation, life insurance, severance, health care, unemployment and other benefit plans.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-URI http://asc.fasb.org/topic&trid=2228938

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 712
-URI http://asc.fasb.org/topic&trid=2197446

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 710
-URI http://asc.fasb.org/topic&trid=2127225

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-URI http://asc.fasb.org/topic&trid=2235017

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- References

No definition available.

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