Retirement Plans and Other Postretirement Benefits

12 Months Ended

Mar. 31, 2022

Retirement Plans and Other Postretirement Benefits[Abstract]

Retirement Plans and Other Postretirement Benefits

19. Retirement Plans and Other Postretirement Benefits

Defined Contribution Plans

Employees may participate in one of our 401(k) plans, which provide for matching contributions. Expenses related to these 401(k) plans were $30,780 and $30,931 for the years ended March 31, 2022, and 2021, respectively, and were immaterial for the year ended March 31, 2020.

Deferred Compensation Plans

Certain of our employees are eligible to participate in deferred compensation plans. Pursuant to these deferred compensation plans, certain executives and other highly compensated employees may defer a portion of their salaries and incentive compensation at their discretion.

The following table summarizes the liabilities related to this plan:

Balance Sheet Location	March 31, 2022		March 31, 2021
Accrued expenses	$	1,567	$	1,746
Other long-term liabilities		24,311		18,860
Total deferred compensation	$	25,878	$	20,606

Post-employment Benefits

We generally offer post-employment benefits to its employees in the case of certain employee termination events consisting of severance and outplacement services. The extent of such benefits varies based on employee title and accumulates based on the respective employee’s years of service. Due to the episodic nature of severance benefit history and the inability to reasonably predict future termination events, no accrual for accumulating severance benefits is accrued until the point that the payment of a severance benefit is probable and can be reasonably estimated. As of March 31, 2022 and 2021, we recognized liabilities related to these benefits of $1,845 and $1,960, respectively.