v3.26.1
PENSION BENEFIT PLANS (Tables)
12 Months Ended
Mar. 31, 2026
Retirement Benefits [Abstract]  
Schedule of Amounts Included in Accumulated Other Comprehensive Income (Loss)

The following sets forth the amounts included in accumulated other comprehensive income (loss) at March 31, 2026 and 2025 (in thousands):

 

 

March 31,

 

 

2026

 

 

2025

 

Unrecognized actuarial net gain

$

7,392

 

 

$

6,732

 

Schedule of Change in Accumulated Other Comprehensive Income (Loss)

The following sets forth the change in accumulated other comprehensive income (loss) during the fiscal years ended March 31, 2026 and 2025 (in thousands):

 

 

March 31,

 

 

2026

 

 

2025

 

Unrecognized actuarial gain

$

(1,305

)

 

$

(1,396

)

Amortization of net actuarial gain

 

644

 

 

 

466

 

Change in accumulated other comprehensive income (loss)

$

(661

)

 

$

(930

)

Schedule of Net Benefit Costs

The following sets forth the components of the Company's net periodic pension cost of the noncontributory defined benefit pension plans for the fiscal years ended March 31, 2026, 2025, and 2024 (in thousands):

 

 

Fiscal Years Ended March 31,

 

 

2026

 

 

2025

 

 

2024

 

Service cost

$

173

 

 

$

193

 

 

$

206

 

Interest cost

 

1,100

 

 

 

981

 

 

 

999

 

Amortization of net gain

 

(644

)

 

 

(466

)

 

 

(928

)

Net periodic pension cost

$

629

 

 

$

708

 

 

$

277

 

Schedule of Changes in Benefit Obligation

The components of the change in benefit obligation of the pension plan at March 31, 2026 and 2025 are as follows (in thousands):

 

 

March 31,

 

 

2026

 

 

2025

 

Benefit obligation, at beginning of year

$

26,023

 

 

$

27,051

 

Service cost

 

173

 

 

 

193

 

Interest cost

 

1,100

 

 

 

981

 

Benefits paid and other

 

(841

)

 

 

(645

)

Actuarial gain

 

(1,305

)

 

 

(1,396

)

Foreign exchange rate impact

 

1,863

 

 

 

(161

)

Benefit obligation, at end of year

$

27,013

 

 

$

26,023

 

Schedule of Benefit Obligation of the Pension Plan Reported in Balance Sheet

The Company's benefit obligation of the pension plan is reported in the following components of the Company's consolidated balance sheet at March 31, 2026 and 2025:

 

 

March 31,

 

 

2026

 

 

2025

 

Accrued compensation

$

997

 

 

$

830

 

Accrued long-term retirement benefits

 

26,016

 

 

 

25,193

 

Benefit obligation, at end of year

$

27,013

 

 

$

26,023

 

Schedule of Changes in Fair Value of Plan Assets

The reconciliation of the beginning and ending balances of the fair value of the assets of the pension plan at March 31, 2026 and 2025 are as follows (in thousands):

 

 

March 31,

 

 

2026

 

 

2025

 

Fair value to plan assets, at beginning of year

$

 

 

$

 

Employer direct benefit payments

 

841

 

 

 

645

 

Benefits paid and other

 

(841

)

 

 

(645

)

Fair value of plan assets, at end of year

$

 

 

$

 

Schedule of Weighted Average Assumptions Used to Determine Net Periodic Pension Cost

Weighted average assumptions used to determine net periodic pension cost at date of measurement:

 

 

March 31,

 

2026

 

 

2025

 

 

2024

 

Discount rate

 

4.40

%

 

4.00

%

 

 

3.70

%

Rate of compensation increase

 

3.00

%

 

3.00

%

 

 

3.00

%

Schedule of Expected Contributions The following sets forth benefit payments, which reflect expected future service, as appropriate, expected to be paid by the plan in the periods indicated (in thousands):

 

2027

$

997

 

2028

$

1,121

 

2029

$

1,206

 

2030

$

1,282

 

2031

$

1,376

 

2032-2036

$

8,049