PENSION BENEFIT PLANS (Tables)

12 Months Ended

Mar. 31, 2020

Retirement Benefits [Abstract]

Schedule of Changes in Benefit Obligation

The components of the change in benefit obligation of the pension plan is as follows (in thousands):

	March 31,		March 31,
	2020		2019
Benefit obligation, at beginning of year	$	34,895	$	33,464
Service cost	341		304
Interest cost	603		704
Benefits paid and other	(359)		(302)
Actuarial loss (gain)	(1,644)		3,254
Foreign exchange rate impact	(1,031)		(2,529)
Benefit obligation, at end of year	$	32,805	$	34,895

Schedule of Changes in Fair Value of Plan Assets

The reconciliation of the beginning and ending balances of the fair value of the assets of the pension plan is as follows (in thousands):

	March 31,		March 31,
	2020		2019
Fair value of plan assets, at beginning of year	$	—	$	—
Employer direct benefit payments	359		302
Benefits paid and other	(359)		(302)
Fair value of plan assets, at end of year	$	—	$	—

Schedule of Net Benefit Costs

The following sets forth the components of the Company's net periodic pension cost of the noncontributory defined benefit pension plans for the fiscal years ended March 31, 2020, 2019, and 2018 (in thousands):

	Year Ended March 31,
	2020		2019		2018
Service cost	$	341	$	304	$	407
Interest cost	603		704		718
Net periodic pension cost	$	944	$	1,008	$	1,125

Schedule of Assumptions Used

Weighted average assumptions used to determine net periodic pension cost at date of measurement:

	March 31,		March 31,		March 31,
	2020		2019		2018
Discount rate	1.90	%	1.80	%	2.30	%
Rate of compensation increase	3.00	%	3.00	%	2.25	%

Schedule of Expected Benefit Payments

The following sets forth benefit payments, which reflect expected future service, as appropriate, expected to be paid by the plan in the periods indicated (in thousands):

2021	$	409
2022	$	454
2023	$	515
2024	$	562
2025	$	662
2026 - 2031	$	4,741