Property and Equipment

12 Months Ended

Mar. 31, 2024

Property, Plant and Equipment [Abstract]

Property and Equipment

6. PROPERTY AND EQUIPMENT

Property and equipment, which include equipment under finance lease and leasehold improvements, are recorded at cost and depreciated over the estimated useful lives of the related assets, or the lease term if shorter in the case of leasehold improvements, using the straight-line method. Buildings and improvements are depreciated over a period of 15 to 40 years, and machinery and equipment are depreciated over a period of 7 to 15 years (except for furniture, fixtures and computer equipment, which are depreciated over a period of 3 to 10 years).

Net property and equipment is:

	March 31,
	2024		2023
Land	$	16,705	$	16,396
Construction-in-process		15,875		10,942
Buildings and improvements		103,560		97,902
Machinery and equipment		341,355		377,075
		477,495		502,315
Less: accumulated depreciation		333,208		363,693
	$	144,287	$	138,622

Depreciation expense for the fiscal years ended March 31, 2024, 2023, and 2022, was $20,732, $21,567 and $34,089, respectively, which includes depreciation of assets under finance lease.