Income Taxes (Tables)

12 Months Ended

Mar. 31, 2013

Income Tax Expense

Income tax expense is composed of the following:

	Fiscal year ended March 31,
	2013			2012			2011
Current:
Federal	$	38,480		$	30,459		$	24,232
State		5,684			3,778			2,736
Foreign		19,438			16,282			14,114
Total current		63,602			50,519			41,082
Deferred:
Federal		3,915			(1,609	)		(1,358	)
State		214			(962	)		2,010
Foreign		(2,456	)		(656	)		(3,716	)
Total deferred		1,673			(3,227	)		(3,064	)
Income tax expense	$	65,275		$	47,292		$	38,018

Earnings Before Income Taxes

Earnings before income taxes consists of the following:

	Fiscal year ended March 31,
	2013		2012		2011
United States	$	107,191	$	87,597	$	57,710
Foreign		123,042		103,662		93,734
Earnings before income taxes	$	230,233	$	191,259	$	151,444

Deferred Tax Assets And Liabilities

The following table sets forth the tax effects of temporary differences that give rise to significant portions of the deferred tax assets and liabilities:

	March 31,
	2013			2012
Deferred tax assets:
Accounts receivable	$	660		$	1,111
Inventories		4,345			6,707
Net operating loss carryforwards		67,834			71,773
Accrued expenses		32,773			26,997
Other assets		9,703			10,228
Gross deferred tax assets		115,315			116,816
Less valuation allowance		(54,542	)		(56,359	)
Total deferred tax assets		60,773			60,457
Deferred tax liabilities:
Property, plant and equipment		28,985			30,957
Other intangible assets		48,142			46,628
Convertible Notes		22,386			21,616
Other liabilities		865			2,400
Total deferred tax liabilities		100,378			101,601
Net deferred tax liabilities	$	(39,605	)	$	(41,144	)

Reconciliation Of Income Taxes At The Statutory Rate

A reconciliation of income taxes at the statutory rate to the income tax provision is as follows:

	Fiscal year ended March 31,
	2013			2012			2011
United States statutory income tax expense (at 35%)	$	80,581		$	66,962		$	53,005
Increase (decrease) resulting from:
State income taxes, net of federal effect		3,742			1,592			3,035
Nondeductible expenses, domestic manufacturing deduction and other		7,664			1,587			(1,848	)
Effect of foreign operations		(27,883	)		(20,028	)		(14,841	)
Valuation allowance		1,171			(2,821	)		(1,333	)
Income tax expense	$	65,275		$	47,292		$	38,018

Reconciliation Of Unrecognized Tax Benefits

A reconciliation of the beginning and ending amount of unrecognized tax benefits under FASB guidance is as follows:

March 31, 2010	$	10,750
Increases related to current year tax positions		2,896
Increases related to prior year tax positions		324
Increases related to prior year tax positions due to foreign currency translation		122
Decreases related to prior year tax position settled		(3,145	)
Lapse of statute of limitations		(302	)
March 31, 2011		10,645
Increases related to current year tax positions		5,032
Increases related to prior year tax positions		182
Decreases related to prior year tax positions due to foreign currency translation		(28	)
Lapse of statute of limitations		(2,886	)
March 31, 2012		12,945
Increases related to current year tax positions		6,296
Increases related to prior year tax positions		969
Increases related to prior year tax positions due to foreign currency translation		245
Lapse of statute of limitations		(3,970	)
March 31, 2013	$	16,485