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Accumulated Other Comprehensive Loss (Tables)
 12 Months Ended
Mar. 31, 2020
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]  
Schedule of Accumulated Other Comprehensive Income (Loss)

The activity by year related to investments, including reclassification adjustments for activity included in earnings are as follows (all items shown net of tax):

 
 
Year Ended March 31,
 
 
2020
 
2019
 
2018
Net unrealized investment gain (loss) at beginning of year
 
$
—

 
$
888

 
$
699

Unrealized holdings gain (loss) arising during the period
 
—

 
—

 
189

Reclassification adjustments for gain included in earnings
 
—

 
—

 
—

Adoption of ASU 2016-01
 
—

 
(888
)
 
—

Net change in unrealized gain (loss) on investments
 
—

 
(888
)
 
189

Net unrealized investment gain at end of year
 
$
—

 
$
—

 
$
888




Changes in accumulated other comprehensive income by component for the year ended March 31, 2020 are as follows (in thousands):

 
 
March 31, 2020
 
 
 
Retirement Obligations
 
Foreign Currency
 
Change in Derivatives Qualifying as Hedges
 
Total
Beginning balance net of tax
 
 
$
(55,145
)
 
$
(25,355
)
 
$
(2,552
)
 
(83,052
)
Other comprehensive income (loss) before reclassification
 
 
(25,449
)
 
(9,004
)
 
4,772

 
(29,681
)
Amounts reclassified from other comprehensive loss to net income
 
 
1,553

 
—

 
(3,170
)
 
(1,617
)
Net current period other comprehensive (loss) income
 
 
(23,896
)
 
(9,004
)
 
1,602

 
(31,298
)
Ending balance net of tax
 
 
$
(79,041
)
 
$
(34,359
)
 
$
(950
)
 
$
(114,350
)



The components of accumulated other comprehensive loss is as follows:

 
 
March 31,
 
 
2020
 
2019
Foreign currency translation adjustment – net of tax
 
$
(34,359
)
 
$
(25,355
)
Pension liability – net of tax
 
(79,651
)
 
(55,601
)
Postretirement obligations – net of tax
 
1,950

 
1,847

Split-dollar life insurance arrangements – net of tax
 
(1,340
)
 
(1,391
)
Derivatives qualifying as hedges – net of tax
 
(950
)
 
(2,552
)
Accumulated other comprehensive loss
 
$
(114,350
)
 
$
(83,052
)
Reclassification out of Accumulated Other Comprehensive Income

Details of amounts reclassified out of accumulated other comprehensive loss for the year ended March 31, 2020 are as follows (in thousands):


Details of AOCL Components
 
Amount reclassified from AOCL
 
Affected line item on consolidated statement of operations
Net pension amount unrecognized
 
 

 
 
 
 
$
2,074

 
(1)
 
 
2,074

 
Total before tax
 
 
(521
)
 
Tax benefit
 
 
$
1,553

 
Net of tax
 
 
 
 
 
Change in derivatives qualifying as hedges
 
 
 
 
 
 
$
(54
)
 
Cost of products sold
 
 
(327
)
 
Interest expense
 
 
(3,907
)
 
Foreign currency
 
 
(4,288
)
 
Total before tax
 
 
1,118

 
Tax benefit
 
 
$
(3,170
)
 
Net of tax

(1)
These accumulated other comprehensive loss components are included in the computation of net periodic pension cost. (See Note 13 — Pensions and Other Benefit Plans for additional details.)