XML 21 R11.htm IDEA: XBRL DOCUMENT v3.24.4
Employee Benefit Plans
 9 Months Ended
Dec. 31, 2024
Share-Based Payment Arrangement [Abstract]  
Employee Benefit Plans Employee Benefit Plans
 
Employee Share Purchase Plans and Stock Incentive Plans
 
As of December 31, 2024, the Company offers the 2006 Employee Share Purchase Plan (Non-U.S.), as amended and restated, the 1996 Employee Share Purchase Plan (U.S.), as amended and restated, and the 2006 Stock Incentive Plan, as amended and restated. Shares issued to employees as a result of purchases or exercises under these plans are generally issued from shares held in treasury stock.

The following table summarizes the share-based compensation expense and total income tax benefit recognized for share-based awards for the three and nine months ended December 31, 2024 and 2023 (in thousands):
Three months ended December 31,Nine months ended December 31,
 2024202320242023
Cost of goods sold$2,173 $2,189 $8,673 $6,066 
Marketing and selling11,813 8,878 34,133 28,623 
Research and development5,043 4,421 15,849 13,568 
General and administrative7,164 5,125 17,412 15,935 
Total share-based compensation expense26,193 20,613 76,067 64,192 
Income tax benefit(4,523)(3,391)(16,901)(11,257)
Total share-based compensation expense, net of income tax benefit$21,670 $17,222 $59,166 $52,935 

The income tax benefit in the respective periods primarily consisted of tax benefits related to the share-based compensation expense for the period and direct tax benefit realized.
Share-based compensation costs capitalized as part of inventory were $1.6 million and $1.4 million for the three months ended December 31, 2024 and 2023, respectively, and $5.9 million and $4.8 million for the nine months ended December 31, 2024 and 2023, 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 of $1.8 million and $1.9 million recorded for the three months ended December 31, 2024 and 2023, respectively, and $5.3 million and $5.7 million recorded for the nine months ended December 31, 2024 and 2023, respectively, were primarily related to service costs.