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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Operating Activities    
Net income $ 88,295 $ 67,177
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 15,018 14,283
Loss on disposal of property and equipment 131 19
Deferred income taxes 3,656 5,827
Amortization of debt origination costs 2,918 1,711
Stock-based compensation costs 4,356 3,902
Non-cash operating lease cost 3,587 3,154
Interest expense relating to finance lease liability 109 0
Changes in operating assets and liabilities:    
Accounts receivable 29,358 5,982
Inventories 3,213 (6,400)
Prepaid expenses and other current assets (2,476) (3,128)
Accounts payable (9,183) 8,465
Accrued liabilities (8,125) 6,616
Operating lease liabilities (3,446) (3,398)
Other (118) (1,210)
Net cash provided by operating activities 127,293 103,000
Investing Activities    
Purchases of property, plant and equipment (11,619) (5,822)
Net cash used in investing activities (11,619) (5,822)
Financing Activities    
Term loan repayments (130,000) 0
Borrowings under revolving credit agreement 0 30,000
Repayments under revolving credit agreement (55,000) (76,000)
Payments of finance leases (712) 0
Proceeds from exercise of stock options 1,285 544
Fair value of shares surrendered as payment of tax withholding (1,242) (880)
Repurchase of common stock (997) (49,976)
Net cash used in financing activities (186,666) (96,312)
Effects of exchange rate changes on cash and cash equivalents 2,835 (491)
(Decrease) increase in cash and cash equivalents (68,157) 375
Cash and cash equivalents - beginning of period 94,760 27,530
Cash and cash equivalents - end of period 26,603 27,905
Interest paid 42,423 48,033
Income taxes paid $ 18,818 $ 14,655