v3.26.1
Employee Benefit Plans (Tables)
 12 Months Ended
Mar. 31, 2026
Compensation Related Costs [Abstract]  
Schedule of Net Periodic Benefit Costs
The net periodic benefit cost of the defined benefit pension plans and the non-retirement post-employment benefit obligations for fiscal years 2026, 2025 and 2024 was as follows (in thousands):
 Years Ended March 31,
 202620252024
Service costs$13,708 $11,875 $11,479 
Interest costs3,564 3,298 3,844 
Expected return on plan assets(9,674)(7,671)(6,950)
Amortization:
Net prior service cost (credit) recognized(658)309 (500)
Net actuarial loss (gain) recognized919 450 (179)
Settlement loss
1,881 — 922 
Total net periodic benefit cost$9,740 $8,261 $8,616 
Schedule of Changes in Projected Benefit Obligations
The changes in projected benefit obligations for fiscal years 2026 and 2025 were as follows (in thousands):
 Years Ended March 31,
 20262025
Projected benefit obligations, beginning of the year$259,141 $213,477 
Service costs13,708 11,875 
Interest costs3,564 3,298 
Plan participant contributions7,088 6,676 
Actuarial loss
2,216 13,691 
Benefits paid (3,475)(10,578)
Transfer of prior vested benefits7,416 15,301 
Plan amendments— 909 
Settlement(18,255)— 
Administrative expense paid(174)(157)
Currency exchange rate changes24,415 4,649 
Projected benefit obligations, end of the year$295,644 $259,141 
Schedule of Changes in the Fair Value of Defined Benefit Pension Plan Assets
The changes in the fair value of plan assets for fiscal years 2026 and 2025 were as follows (in thousands):
 Years Ended March 31,
 20262025
Fair value of plan assets, beginning of the year$201,459 $170,640 
Actual return on plan assets9,386 5,076 
Employer contributions10,544 10,351 
Plan participant contributions7,088 6,676 
Benefits paid
(3,475)(10,578)
Transfer of prior vested benefits7,416 15,301 
Settlement(18,255)— 
Administrative expenses paid(174)(157)
Currency exchange rate changes19,842 4,150 
Fair value of plan assets, end of the year$233,831 $201,459 
Schedule of Fair Value of the Defined Benefit Pension Plan Assets by Major Categories and by Levels within the Fair Value Hierarchy
The following tables present the fair value of the defined benefit pension plan assets by major categories and by levels within the fair value hierarchy as of March 31, 2026 and 2025 (in thousands):
 March 31,
 20262025
 Level 1Level 2TotalLevel 1Level 2Total
Cash and cash equivalents$26,588 $— $26,588 $21,202 $— $21,202 
Equity securities80,223 — 80,223 60,867 — 60,867 
Debt securities52,819 — 52,819 50,178 — 50,178 
Real estate funds31,979 19,443 51,422 44,906 6,833 51,739 
Hedge funds— 13,556 13,556 — 8,994 8,994 
Other8,721 502 9,223 8,005 474 8,479 
  Total fair value of plan assets$200,330 $33,501 $233,831 $185,158 $16,301 $201,459 
Schedule of Net Funded Status
The funded status of the plans was as follows (in thousands):
 Years Ended March 31,
 20262025
Fair value of plan assets$233,831 $201,459 
Less: projected benefit obligations295,644 259,141 
Underfunded status $(61,813)$(57,682)
Schedule of Amounts Recognized on the Balance Sheet for the Plans
Amounts recognized on the balance sheets for the plans were as follows (in thousands):
 March 31,
 20262025
Current liabilities$2,036 $1,728 
Non-current liabilities59,777 55,954 
  Total liabilities$61,813 $57,682 
Schedule of Amounts Recognized in Accumulated Other Comprehensive Loss
Amounts recognized in accumulated other comprehensive income (loss) related to defined benefit pension plans were as follows (in thousands):
 March 31,
 20262025
Net prior service credits$218 $820 
Net actuarial loss(22,709)(22,696)
  Accumulated other comprehensive loss(22,491)(21,876)
Deferred taxes747 (3,400)
  Accumulated other comprehensive loss, net of tax$(21,744)$(25,276)
Schedule of Actuarial Assumptions for the Pension Plans
The actuarial assumptions for the defined benefit plans were as follows:
 Years Ended March 31,
 20262025
Benefit Obligations:
Discount rate
1.10%- 6.75%
1.20% - 6.50%
Estimated rate of compensation increase
2.00% - 10.00%
2.00% - 10.00%
Cash balance interest credit rate
0.75% - 1.75%
0.75% - 1.75%
Years Ended March 31,
202620252024
Net Periodic Costs:
Discount rate
1.20% - 6.50%
1.50% - 7.00%
1.50% - 7.25%
Estimated rate of compensation increase
2.00% - 10.00%
2.25% - 10.00%
2.25% - 10.00%
Expected average rate of return on plan assets
1.00% - 4.50%
1.00% - 5.25%
0.50% - 4.50%
Cash balance interest credit rate
0.75% - 1.75%
0.50% - 1.75%
0.50% - 1.75%
Schedule of Expected Benefit Payments
The following table reflects the benefit payments that the Company expects the plans to pay in the periods noted (in thousands):
Years Ending March 31,
2027$20,309 
2028$17,109 
2029$16,841 
2030$17,194 
2031$16,247 
2032-2036$89,012