Income Taxes (Tables)

12 Months Ended

Mar. 31, 2020

Investments, Owned, Federal Income Tax Note [Line Items]

Schedule of Unrecognized Tax Benefits Roll Forward

Changes in the Company’s uncertain income tax positions, excluding the related accrual for interest and penalties, are as follows:

	2020			2019			2018
Beginning balance	$	936		$	592		$	975
Additions for tax positions of the current year	—			550			444
Reductions for prior year tax positions	(802		)	(141		)	—
Foreign currency translation	(2		)	(65		)	20
Lapses in statutes of limitation	—			—			(847		)
Ending balance	$	132		$	936		$	592

Schedule of Classification of Deferred Income Taxes in Consolidated Balance Sheet

Deferred income taxes are classified within the consolidated balance sheets based on the following breakdown:

	March 31,
	2020			2019
Net non-current deferred tax assets	$	26,281		$	27,707
Net non-current deferred tax liabilities	(18,213		)	(20,082		)
Net deferred tax assets (liabilities)	$	8,068		$	7,625

Schedule of Deferred Tax Assets and Liabilities

The tax effects of temporary differences that give rise to significant portions of the deferred tax assets and deferred tax liabilities are as follows:

	March 31,
	2020			2019
Deferred tax assets:
Federal net operating loss carryforwards	$	18,091		$	21,990
State and foreign net operating loss carryforwards	7,142			8,069
Employee benefit plans	31,471			27,955
Insurance reserves	3,216			3,204
Accrued vacation and incentive costs	3,218			4,766
Federal tax credit carryforwards	11,922			17,685
ASC 842 Lease Liability	9,048			—
Equity compensation	1,974			2,285
Other	7,319			4,449
Valuation allowance	(15,036		)	(16,881		)
Deferred tax assets after valuation allowance	78,365			73,522
Deferred tax liabilities:
Property, plant, and equipment	(1,962		)	(2,429		)
ASC 842 Right-of-Use Asset	(8,938		)	—
Intangible assets	(59,397		)	(63,468		)
Total deferred tax liabilities	(70,297		)	(65,897		)
Net deferred tax assets (liabilities)	$	8,068		$	7,625

Schedule of Components of Income Tax Expense (Benefit)

The sources and tax effects of the differences were as follows:

	Year Ended March 31,
	2020			2019			2018
Statutory federal income tax rate (1)	21.00		%	21.00		%	31.55		%
Expected tax at statutory rate	$	16,203		$	11,108		$	15,676
Effect of Tax Reform Act (2), (3)	—			(1,500		)	17,602
State income taxes net of federal benefit	1,397			1,728			(37		)
Foreign taxes at rates other than statutory federal rate	1,102			(145		)	(2,667		)
Net loss on sale of businesses (5)	—			4,041			—
Permanent items (8), (9)	266			(1,694		)	(2,220		)
Valuation allowance (4), (6)	(1,184		)	13,190			(104		)
Foreign tax credits (4)	—			(15,371		)	—
Federal tax credits (7)	(1,903		)	(1,376		)	(612		)
Other	1,603			340			(18		)
Actual tax provision expense	$	17,484		$	10,321		$	27,620

(1) For fiscal 2018, represents the blended rate of 35 percent for the first three quarters of the fiscal year and 21 percent for the fourth quarter.

(2) For fiscal 2018, represents the discrete expense of the one-time transition tax ($1,500,000) and the remeasurement of our net U.S. deferred tax assets at the new lower U.S. corporate income tax rate ($16,102,000).

(3) For fiscal 2019, represents the discrete benefit of the reduction of the one-time transition tax of $1,500,000 recorded in fiscal 2018 to zero.

(4) For fiscal 2019, primarily represents foreign tax credits generated by the one-time transition tax calculation and valuation allowance as the Company believes their utilization is uncertain.

(5) For fiscal 2019, represents losses on sales of businesses that are not deductible for income tax purposes.

(6) For fiscal 2020, represents the reversal of a valuation allowance on certain foreign tax credits offset by increases in valuation allowances required in certain foreign jurisdiction.

(7) Federal tax credits include research and development credits and minimum tax credits.

(8) For fiscal 2019, permanent items include a FDII deduction of $945,000.

(9) For fiscal 2020, permanent items include a net GILTI inclusion of $525,000 and a FDII deduction of $1,029,000.

The provision for income tax expense (benefit) consisted of the following:

	Year Ended March 31,
	2020			2019			2018
Current income tax expense (benefit):
United States Federal	$	(2,491	)	$	(1,663	)	$	1,109
State taxes	626			394			402
Foreign	11,984			12,548			6,141
Deferred income tax expense (benefit):
United States	7,827			5,873			21,177
Foreign	(462		)	(6,831		)	(1,209		)
	$	17,484		$	10,321		$	27,620