Income Taxes (Tables)

12 Months Ended

Mar. 31, 2020

Income Tax Disclosure [Abstract]

Income Tax Expense

	Fiscal year ended March 31,
	2020			2019			2018
Current income tax expense
Current:
Federal	$	9,185		$	6,377		$	115,315
State	2,561			5,027			3,461
Foreign	14,561			16,636			20,030
Total current income tax expense	26,307			28,040			138,806
Deferred income tax (benefit) expense
Federal	5,489			(5,031		)	(9,551		)
State	741			(669		)	789
Foreign	(22,716		)	(756		)	(11,551		)
Total deferred income tax (benefit) expense	(16,486		)	(6,456		)	(20,313		)
Total income tax expense	$	9,821		$	21,584		$	118,493

Earnings Before Income Taxes

Earnings before income taxes consists of the following:

	Fiscal year ended March 31,
	2020		2019		2018
United States	$	36,193	$	53,339	$	74,440
Foreign	110,744		128,872		163,886
Earnings before income taxes	$	146,937	$	182,211	$	238,326

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,
	2020			2019
Deferred tax assets:
Accounts receivable	$	1,110		$	1,297
Inventories	5,010			4,081
Net operating loss carryforwards	44,340			48,423
Accrued expenses	26,113			21,574
Capitalized research and development costs	—			7,061
Other assets	19,793			17,656
Gross deferred tax assets	96,366			100,092
Less valuation allowance	(20,951		)	(17,519		)
Total deferred tax assets	75,415			82,573
Deferred tax liabilities:
Property, plant and equipment	30,229			25,656
Intangible assets	66,529			96,826
Other liabilities	1,217			1,737
Total deferred tax liabilities	97,975			124,219
Net deferred tax liabilities	$	(22,560	)	$	(41,646	)

Reconciliation Of Income Taxes At The Statutory Rate

A reconciliation of income taxes at the statutory rate (21.0% for fiscal 2020, 21.0% for fiscal 2019 and 31.55% for fiscal 2018) to the income tax provision is as follows:

	Fiscal year ended March 31,
	2020			2019			2018
United States statutory income tax expense	$	30,857		$	38,264		$	75,196
Increase (decrease) resulting from:
Impact of Tax Act	—			(13,483		)	83,400
State income taxes, net of federal effect	2,764			3,285			3,146
Nondeductible expenses, domestic manufacturing deduction (fiscal 2018) and other	5,953			4,378			2,008
Legal proceedings charge - European Competition Investigations	—			2,405			—
Net effect of GILTI, FDII, BEAT	3,025			2,320			—
Goodwill impairment - See Note 7	10,714			—			—
Effect of foreign operations	(17,605		)	(16,763		)	(35,048		)
Valuation allowance	4,349			2,879			(9,279		)
Switzerland Tax Reform	(26,846		)	—			—
Research and Development Credit	(3,390		)	(1,701		)	(930		)
Income tax expense	$	9,821		$	21,584		$	118,493

Reconciliation Of Unrecognized Tax Benefits

:

	Fiscal year ended March 31,
	2020			2019			2018
Balance at beginning of year	$	20,165		$	1,568		$	1,450
Increases related to current year tax positions	598			129			397
Increases related to the Alpha acquisition	769			7,840			—
Increases related to prior year tax positions	—			11,463			11
Decreases related to prior tax positions	(11,463		)	(544		)	—
Decreases related to prior year tax positions settled	—			(93		)	(1		)
Lapse of statute of limitations	(2,274		)	(198		)	(289		)
Balance at end of year	$	7,795		$	20,165		$	1,568