v3.26.1
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 12 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Mar. 31, 2024
Cash flows from operating activities:      
Net income $ 711,187 $ 631,529 $ 612,143
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation 64,139 59,664 63,065
Amortization of intangible assets 13,315 20,098 21,681
Impairment of intangible assets 0 0 3,526
Loss on investments 612 2,029 14,674
Share-based compensation expense 112,392 89,913 82,889
Deferred income taxes 29,822 56,543 (42,424)
Change in fair value of contingent consideration for business acquisition 0 0 (250)
Other 28 120 379
Changes in assets and liabilities, net of acquisitions:      
Accounts receivable, net (39,436) 69,979 91,519
Inventories 22,882 (80,501) 259,796
Other assets (36,559) 23,970 10,760
Accounts payable 109,174 (31,627) 39,336
Accrued and other liabilities 49,651 840 (11,978)
Net cash provided by operating activities 1,037,207 842,557 1,145,116
Cash flows from investing activities:      
Purchases of property, plant and equipment (61,562) (56,128) (55,897)
Acquisitions, net of cash acquired 0 0 (14,424)
Purchases of deferred compensation investments (10,479) (6,600) (11,571)
Proceeds from sales of deferred compensation investments 11,308 7,079 12,174
Other investing activities (1,654) (1,619) (617)
Net cash used in investing activities (62,387) (57,268) (70,335)
Cash flows from financing activities:      
Payment of cash dividends (233,059) (207,853) (182,305)
Payment of contingent consideration for business acquisition 0 (1,245) (5,002)
Purchases of registered shares (534,939) (588,838) (504,203)
Proceeds from exercises of stock options and purchase rights 38,320 36,405 32,197
Tax withholdings related to net share settlements of restricted stock units (21,438) (32,485) (29,744)
Other financing activities 0 (3,344) (1,116)
Net cash used in financing activities (751,116) (797,360) (690,173)
Effect of exchange rate changes on cash and cash equivalents 14,637 (5,566) (12,789)
Net increase (decrease) in cash and cash equivalents 238,341 (17,637) 371,819
Cash and cash equivalents at beginning of the period 1,503,205 1,520,842 1,149,023
Cash and cash equivalents at end of the period 1,741,546 1,503,205 1,520,842
Non-cash investing and financing activities:      
Property, plant and equipment purchased during the period and included in period end liability accounts 13,573 10,106 11,451
Supplemental cash flow information:      
Income taxes paid, net $ 86,353 $ 67,484 $ 50,855