Income Taxes (Tables)

12 Months Ended

Mar. 31, 2018

Income Tax Disclosure [Abstract]

Income Tax Expense

	Fiscal year ended March 31,
	2018			2017		2016
Current income tax expense
Current:
Federal	$	115,315		$	30,362	$	29,082
State	3,461			4,855		4,750
Foreign	20,030			17,800		17,034
Total current income tax expense	138,806			53,017		50,866
Deferred income tax expense (benefit)
Federal	(9,551		)	857		(3,706		)
State	789			590		124
Foreign	(11,551		)	8		2,829
Total deferred income tax expense (benefit)	(20,313		)	1,455		(753		)
Total income tax expense	$	118,493		$	54,472	$	50,113

Earnings Before Income Taxes

Earnings before income taxes consists of the following:

	Fiscal year ended March 31,
	2018		2017		2016
United States	$	74,440	$	80,436	$	64,235
Foreign	163,886		132,259		117,702
Earnings before income taxes	$	238,326	$	212,695	$	181,937

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,
	2018			2017
Deferred tax assets:
Accounts receivable	$	1,790		$	2,419
Inventories	3,660			6,521
Net operating loss carryforwards	50,928			46,178
Accrued expenses	21,274			29,783
Other assets	16,832			20,282
Gross deferred tax assets	94,484			105,183
Less valuation allowance	(15,255		)	(27,053		)
Total deferred tax assets	79,229			78,130
Deferred tax liabilities:
Property, plant and equipment	21,045			24,319
Other intangible assets	46,058			67,388
Other liabilities	1,331			759
Total deferred tax liabilities	68,434			92,466
Net deferred tax assets (liabilities)	$	10,795		$	(14,336	)

Reconciliation Of Income Taxes At The Statutory Rate

A reconciliation of income taxes at the statutory rate (31.55% for fiscal 2018 and 35% for fiscal 2017 and 2016) to the income tax provision is as follows:

	Fiscal year ended March 31,
	2018			2017			2016
United States statutory income tax expense	$	75,196		$	74,444		$	63,678
Increase (decrease) resulting from:
Impact of Tax Act	83,400			—			—
State income taxes, net of federal effect	3,146			3,677			3,282
Nondeductible expenses, domestic manufacturing deduction and other	1,078			1,993			(1,407		)
Legal proceedings charge - European Competition Investigations - See Note 18	—			7,873			668
Goodwill impairment - See Note 5	—			3,812			6,475
Effect of foreign operations	(35,048		)	(39,377		)	(28,845		)
Valuation allowance	(9,279		)	2,050			6,262
Income tax expense	$	118,493		$	54,472		$	50,113

Reconciliation Of Unrecognized Tax Benefits

:

	Fiscal year ended March 31,
	2018			2017			2016
Balance at beginning of year	$	1,450		$	2,375		$	4,112
Increases related to current year tax positions	397			252			422
Increases related to prior year tax positions	11			31			470
Decreases related to prior tax positions due to foreign currency translation	—			(352		)	—
Decreases related to prior year tax positions settled	(1		)	(678		)	(2,315		)
Lapse of statute of limitations	(289		)	(178		)	(314		)
Balance at end of year	$	1,568		$	1,450		$	2,375