v3.25.1
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 12 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Mar. 31, 2023
Cash flows from operating activities:      
Net income $ 137,484 $ 102,539 $ 96,574
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation 14,210 13,961 12,838
Amortization of intangible and other assets 28,795 23,688 22,716
Provision for inventory reserves 2,686 4,229 1,522
Provision for credit losses 1,408 814 2,013
Share-based and other executive compensation 13,587 11,537 9,751
Fair value change in contingent consideration 2,100 0 0
Net loss (gain) on disposals of property, plant and equipment 35 (2,677) 104
Net pension benefit 66 67 150
Impairment of intangible assets 0 1,600 156
Net deferred taxes (6,915) (2,497) (6,011)
Changes in operating assets and liabilities:      
Accounts receivable (9,116) (17,897) 1,105
Inventories (35,699) 10,364 (11,422)
Prepaid expenses and other current assets (1,369) 4,608 (1,282)
Other assets 1,424 1,146 458
Accounts payable and other current liabilities 21,664 12,293 (7,000)
Retirement benefits payable and other liabilities (1,998) 557 (219)
Net cash provided by operating activities 168,362 164,332 121,453
Cash flows from investing activities:      
Capital expenditures (16,266) (16,575) (13,951)
Proceeds from sale of assets held for investment 0 1,665 0
Proceeds from sale of assets 1,229 2,185 120
Cash paid for investments (2,500) 0 0
Cash paid for acquisitions, net of cash received (84,684) (29,779) (55,885)
Net cash used in investing activities (102,221) (42,504) (69,716)
Cash flows from financing activities:      
Borrowings on lines of credit 32,723 112,319 143,177
Repayments of lines of credit (198,723) (199,319) (142,952)
Payments of deferred loan costs 0 0 (710)
Payments of contingent consideration (1,085) (2,950) (2,450)
Purchase of treasury shares (27,693) (15,268) (39,072)
Proceeds from stock option activity 0 0 272
Proceeds from issuance of equity 347,407 0 0
Proceeds from acquisition of redeemable noncontrolling interest shareholder 0 0 3,000
Dividends paid to shareholders (14,582) (11,805) (10,555)
Net cash provided by (used in) financing activities 138,047 (117,023) (49,290)
Effect of exchange rate changes on cash and equivalents (499) (1,104) (611)
Net change in cash and cash equivalents 203,689 3,701 1,836
Cash and cash equivalents, beginning of period 22,156 18,455 16,619
Cash and cash equivalents, end of period 225,845 22,156 18,455
Supplemental non-cash disclosure:      
Cash paid during the year for interest 4,789 12,254 12,502
Cash paid during the year for income taxes $ 50,866 $ 39,295 $ 47,476