v3.26.1
Forward and Swap Contracts
 12 Months Ended
Mar. 31, 2026
Notes To Financial Statements [Abstract]  
Derivative Instruments and Hedging Activities Disclosure [Text Block]
18. DERIVATIVES AND HEDGING
We utilize foreign currency forward contracts to hedge a portion of our monetary assets and liabilities denominated in foreign currencies, including intercompany transactions. Within each fiscal year, we also utilize foreign currency forward contracts to hedge a portion of our expected non-U.S. dollar-denominated earnings against our reporting currency, the U.S. dollar. Further, we utilize commodity swap contracts to hedge price changes in nickel that impact raw materials included in our Cost of revenues.
These contracts are not designated as hedging instruments and do not receive hedge accounting treatment; therefore, changes in their fair value are not deferred but are recognized immediately in the Consolidated Statements of Income. We do not use derivative financial instruments for speculative purposes.
At March 31, 2026, we held foreign currency forward contracts to buy 210.0 million Mexican pesos; and to sell 7.0 million New Zealand dollars and 4.0 million Australian dollars. At March 31, 2026, we held commodity swap contracts to buy 0.6 million pounds of nickel.
 Asset DerivativesLiability Derivatives
(in millions)Fair Value atFair Value atFair Value atFair Value at
Balance Sheet LocationMarch 31, 2026March 31, 2025March 31, 2026March 31, 2025
Prepaid & Other$0.2 $0.1 $— $— 
Accrued expenses and other— — 0.7 0.6 
The following table presents the impact of derivative instruments and their location within the Consolidated Statements of Income:
(in millions)Location of (loss) gain recognized in incomeAmount of (loss) gain recognized in income
Years Ended March 31,
202620252024
Foreign currency forward contractsSelling, general, and administrative$(0.5)$2.0 $1.3 
Commodity swap contractsCost of revenues(0.6)(0.2)(1.6)