v3.26.1
Fair Value Measurements (Tables)
 12 Months Ended
Mar. 31, 2026
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]  
Fair Value, Measurement Inputs, Disclosure [Table Text Block] The following table shows the fair value of our financial assets and liabilities at March 31, 2026 and March 31, 2025:
(in millions) Fair Value Measurements
 At March 31,Carrying ValueQuoted Prices
in Active Markets
for Identical Assets		Significant Other
Observable Inputs		Significant
Unobservable
Inputs
Level 1Level 2Level 3
20262025202620252026202520262025
Assets:
Cash and cash equivalents $439.6 $171.7 $439.6 $171.7 $— $— $— $— 
Forward and swap contracts (1)
0.2 0.1 — — 0.2 0.1 — — 
Deferred compensation plan (2)
1.3 1.1 1.3 1.1 — — — — 
Other investments3.2 3.0 3.2 3.0 — — — — 
Liabilities:
Forward and swap contracts (1)
$0.7 $0.6 $— $— $0.7 $0.6 $— $— 
Deferred compensation plan (2)
1.51.21.51.2————
Total debt (3)
1,931.72,043.7——1,666.41,756.5——
Contingent consideration obligations (4)
6.13.2————6.13.2
(1) The fair values of forward and swap contracts are based on period-end forward rates and reflect the value of the amount that we would pay or receive for the contracts involving the same notional amounts and maturity dates.
(2) We maintain a frozen domestic non-qualified deferred compensation plan covering certain employees, which allowed for the deferral of payment of previously earned compensation for an employee-specified term or until retirement or termination. Amounts deferred can be allocated to various hypothetical investment options (compensation deferrals have been frozen under the plan). We hold investments to satisfy the future obligations of the plan. Employees who made deferrals are entitled to receive distributions of their hypothetical account balances (amounts deferred, together with earnings (losses)). Changes in the fair value of these investments are recorded in the Other expense (income) line of the Consolidated Statements of Income. During fiscal 2026 and fiscal 2025, we recorded gains of $0.2 million and $0.9 million, respectively, related to these investments.
(3)We estimate the fair value of our debt using discounted cash flow analyses, based on our current incremental borrowing rates for similar types of borrowing arrangements.
(4) As of March 31, 2026 and 2025, we had contingent consideration obligations of $6.1 million and $3.2 million arising from business acquisitions, respectively. The fair values are based on discounted cash flow analyses reflecting the possible achievement of specified performance measures or events and captures the contractual nature of the contingencies, commercial risk, and the time value of money. Contingent consideration obligations are classified in the Consolidated Balance Sheets as Accrued expense (short-term) and Other liabilities (long-term), as appropriate based on the contractual payment dates.
As of March 31, 2026 and 2025, we also held $45.5 million and $14.3 million of other investments without readily determinable fair values measured at cost less impairment, if any, adjusted to fair value for any observable price changes in orderly transactions for identical or similar investments of the same issuer. These investments are included in the "Other assets" line of our Consolidated Balance Sheets.
Fair Value Option, Disclosures The following table shows the fair value of our financial assets and liabilities at March 31, 2026 and March 31, 2025:
(in millions) Fair Value Measurements
 At March 31,Carrying ValueQuoted Prices
in Active Markets
for Identical Assets		Significant Other
Observable Inputs		Significant
Unobservable
Inputs
Level 1Level 2Level 3
20262025202620252026202520262025
Assets:
Cash and cash equivalents $439.6 $171.7 $439.6 $171.7 $— $— $— $— 
Forward and swap contracts (1)
0.2 0.1 — — 0.2 0.1 — — 
Deferred compensation plan (2)
1.3 1.1 1.3 1.1 — — — — 
Other investments3.2 3.0 3.2 3.0 — — — — 
Liabilities:
Forward and swap contracts (1)
$0.7 $0.6 $— $— $0.7 $0.6 $— $— 
Deferred compensation plan (2)
1.51.21.51.2————
Total debt (3)
1,931.72,043.7——1,666.41,756.5——
Contingent consideration obligations (4)
6.13.2————6.13.2
(1) The fair values of forward and swap contracts are based on period-end forward rates and reflect the value of the amount that we would pay or receive for the contracts involving the same notional amounts and maturity dates.
(2) We maintain a frozen domestic non-qualified deferred compensation plan covering certain employees, which allowed for the deferral of payment of previously earned compensation for an employee-specified term or until retirement or termination. Amounts deferred can be allocated to various hypothetical investment options (compensation deferrals have been frozen under the plan). We hold investments to satisfy the future obligations of the plan. Employees who made deferrals are entitled to receive distributions of their hypothetical account balances (amounts deferred, together with earnings (losses)). Changes in the fair value of these investments are recorded in the Other expense (income) line of the Consolidated Statements of Income. During fiscal 2026 and fiscal 2025, we recorded gains of $0.2 million and $0.9 million, respectively, related to these investments.
(3)We estimate the fair value of our debt using discounted cash flow analyses, based on our current incremental borrowing rates for similar types of borrowing arrangements.
(4) As of March 31, 2026 and 2025, we had contingent consideration obligations of $6.1 million and $3.2 million arising from business acquisitions, respectively. The fair values are based on discounted cash flow analyses reflecting the possible achievement of specified performance measures or events and captures the contractual nature of the contingencies, commercial risk, and the time value of money. Contingent consideration obligations are classified in the Consolidated Balance Sheets as Accrued expense (short-term) and Other liabilities (long-term), as appropriate based on the contractual payment dates.