INCOME TAXES |
9 Months Ended |
|---|---|
Dec. 31, 2022 | |
| Income Tax Disclosure [Abstract] | |
| INCOME TAXES | INCOME TAXES Generally, the Company's effective tax rate differs from the U.S. federal statutory income tax rate primarily due to foreign withholding taxes and U.S. taxation on foreign earnings, partially offset by research and development tax credits, foreign tax credits, stock related compensation and the foreign derived intangible income deduction. The Company's effective tax rates were 13.1% and 14.2% for the three months ended December 31, 2022 and 2021, respectively. The effective tax rate for the three months ended December 31, 2022 differed from the effective tax rate for the three months ended December 31, 2021 primarily due to research and development tax credits, foreign tax credits, the foreign derived intangible income deduction, and U.S. taxation of foreign earnings. The Company's effective tax rates were 9.5% and 15.5% for the nine months ended December 31, 2022 and 2021, respectively. The effective tax rate for the nine months ended December 31, 2022 differed from the effective tax rate for the nine months ended December 31, 2021 primarily due to research and development tax credits, foreign tax credits, the foreign derived intangible income deduction, and U.S. taxation of foreign earnings, as well as a discrete benefit from stock compensation during the nine months ended December 31, 2022.
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