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Pension and Other Post-retirement Benefit Plans (Tables)
 12 Months Ended
Mar. 31, 2014
Compensation and Retirement Disclosure [Abstract]  
Summary of the changes in benefit obligations and plan assets
A summary of the changes in benefit obligations and plan assets is as follows (amounts in thousands):
 
 
Pension
 
Other Benefits
 
 
2014
 
2013
 
2014
 
2013
Change in Benefit Obligation
 
 
 
 
 
 
 
 
Benefit obligation at beginning of the year
 
$
39,096

 
$
47,892

 
$
799

 
$
1,057

Service cost
 
1,308

 
1,583

 
—

 
—

Interest cost
 
1,734

 
1,903

 
23

 
27

Plan participants' contributions
 
—

 
73

 
555

 
503

Plan amendments
 
285

 
—

 
—

 
—

Actuarial (gain) loss
 
(377
)
 
4,108

 
94

 
(145
)
Foreign currency exchange rate change
 
2,009

 
(1,391
)
 
—

 
—

Gross benefits paid
 
(1,302
)
 
(1,300
)
 
(686
)
 
(643
)
Curtailments and settlements
 
(38
)
 
(13,772
)
 
—

 
—

Benefit obligation at end of year
 
$
42,715

 
$
39,096

 
$
785

 
$
799

Change in Plan Assets
 
 
 
 
 
 
 
 
Fair value of plan assets at beginning of year
 
$
8,806

 
$
17,156

 
$
—

 
$
—

Actual return on plan assets
 
260

 
1,097

 
—

 
—

Foreign currency exchange rate changes
 
874

 
(799
)
 
—

 
—

Employer contributions
 
1,346

 
2,490

 
131

 
140

Settlements
 
(38
)
 
(9,911
)
 
—

 
—

Plan participants' contributions
 
—

 
73

 
555

 
503

Gross benefits paid
 
(1,302
)
 
(1,300
)
 
(686
)
 
(643
)
Fair value of plan assets at end of year
 
$
9,946

 
$
8,806

 
$
—

 
$
—

Funded status at end of year
 
 
 
 
 
 
 
 
Fair value of plan assets
 
$
9,946

 
$
8,806

 
$
—

 
$
—

Benefit obligations
 
(42,715
)
 
(39,096
)
 
(785
)
 
(799
)
Amount recognized at end of year
 
$
(32,769
)
 
$
(30,290
)
 
$
(785
)
 
$
(799
)
Schedule of amounts recognized in the Consolidated Balance Sheets
Amounts recognized in the Consolidated Balance Sheets consist of the following (amounts in thousands):
 
 
Pension
 
Other Benefits
 
 
2014
 
2013
 
2014
 
2013
Current liability
 
$
(615
)
 
$
(644
)
 
$
(88
)
 
$
(90
)
Noncurrent liability
 
(32,154
)
 
(29,646
)
 
(697
)
 
(709
)
Amount recognized, end of year
 
$
(32,769
)
 
$
(30,290
)
 
$
(785
)
 
$
(799
)
Schedule of amounts recognized in Accumulated other comprehensive income (loss)
Amounts recognized in Accumulated other comprehensive income (loss) consist of the following (amounts in thousands):
 
 
Pension
 
Other Benefits
 
 
2014
 
2013
 
2014
 
2013
Net actuarial loss (gain)
 
$
9,269

 
$
9,742

 
$
(1,464
)
 
$
(1,818
)
Prior service cost
 
310

 
32

 
—

 
—

Accumulated other comprehensive income
 
$
9,579

 
$
9,774

 
$
(1,464
)
 
$
(1,818
)
Schedule of components of benefit costs (credit)
Components of benefit costs (credit) consist of the following (amounts in thousands):
 
 
Pension
 
Other Benefits
 
 
2014
 
2013
 
2012
 
2014
 
2013
 
2012
Net service cost
 
$
1,308

 
$
1,583

 
$
1,310

 
$
—

 
$
—

 
$
—

Interest cost
 
1,734

 
1,903

 
2,111

 
23

 
27

 
44

Expected return on plan assets
 
(454
)
 
(656
)
 
(712
)
 
—

 
—

 
—

Amortization:
 
 
 
 
 
 
 
 
 
 
 
 
Actuarial (gain) loss
 
318

 
544

 
392

 
(259
)
 
(322
)
 
(323
)
Prior service cost
 
4

 
20

 
25

 
—

 
—

 
—

Recurring activity
 
2,910

 
3,394

 
3,126

 
(236
)
 
(295
)
 
(279
)
Curtailment expense
 
(32
)
 
266

 
—

 
—

 
—

 
—

Net periodic benefit cost (credit)
 
$
2,878

 
$
3,660

 
$
3,126

 
$
(236
)
 
$
(295
)
 
$
(279
)
Schedule of asset allocation for the Company's defined benefit pension plans and the target allocation by asset category
The asset allocation for the Company's defined benefit pension plans at March 31, 2014 and the target allocation for 2014, by asset category, are as follows:
Asset Category
 
Target
Allocation
(%)
 
Plan Assets
at March 31,
2014
(%)
Insurance(1)
 
10
 
7
International equities
 
30
 
35
International bonds
 
50
 
57
Other
 
10
 
1
Total
 
100
 
100
_______________________________________________________________________________
(1)
Comprised of assets held by the defined benefit pension plan in Germany.
Schedule of other changes in plan assets and benefit obligations recognized in Accumulated other comprehensive income (loss)
Other changes in plan assets and benefit obligations recognized in Accumulated other comprehensive income (loss) are as follows (amounts in thousands):
 
 
Pension
 
Other Benefits
 
 
2014
 
2013
 
2012
 
2014
 
2013
 
2012
Current year actuarial (gain) loss
 
$
(190
)
 
$
3,669

 
$
2,845

 
$
95

 
$
(145
)
 
$
(206
)
Foreign currency exchange rate changes
 
—

 
(238
)
 
(218
)
 
259

 
322

 
323

Amortization of actuarial gain (loss)
 
(286
)
 
(4,582
)
 
(392
)
 
—

 
—

 
—

Current year prior service cost
 
285

 
—

 
—

 
—

 
—

 
—

Amortization of prior service cost
 
(4
)
 
(101
)
 
(25
)
 
—

 
—

 
—

Total recognized in other comprehensive income
 
$
(195
)
 
$
(1,252
)
 
$
2,210

 
$
354

 
$
177

 
$
117

Total recognized in net periodic benefit cost and other comprehensive income (loss)
 
$
2,683

 
$
2,408

 
$
5,336

 
$
118

 
$
(118
)
 
$
(162
)
Schedule of expected future benefit payments
The Company expects to have benefit payments in the future as follows (amounts in thousands):
 
 
Expected benefit payments
 
 
2015
 
2016
 
2017
 
2018
 
2019
 
2020 - 2024
Pension benefits
 
$
1,476

 
$
1,575

 
$
1,680

 
$
1,615

 
$
1,959

 
$
10,765

Other benefits
 
89

 
87

 
83

 
79

 
75

 
297

Total
 
$
1,565

 
$
1,662

 
$
1,763

 
$
1,694

 
$
2,034

 
$
11,062
Schedule of weighted-average assumptions used to determine the projected benefit obligation at the measurement date and the net periodic cost for the pension and post-retirement plan
The following weighted-average assumptions were used to determine the projected benefit obligation at the measurement date and the net periodic cost for the pension and post-retirement plan (amounts in thousands except percentages):
 
 
Pension
 
Other Benefits
 
 
2014
 
2013
 
2014
 
2013
Projected benefit obligation:
 
 
 
 
 
 
 
 
Discount rate
 
4.5
%
 
4.5
%
 
3.4
%
 
2.8
%
Rate of compensation increase
 
3.4
%
 
3.5
%
 
—

 
—

Health care cost trend on covered charges
 
—

 
—

 
7.0%
decreasing to
ultimate trend
of 5% in 2018

 
7.0%
decreasing to
ultimate trend
of 5% in 2017

Net periodic benefit cost:
 
 
 
 
 
 
 
 
Discount rate
 
4.5
%
 
4.2
%
 
2.8
%
 
3.5
%
Rate of compensation increase
 
3.5
%
 
2.9
%
 
—

 
—

Expected return on plan assets
 
4.9
%
 
4.0
%
 
—

 
—

Health care cost trend on covered charges
 
—

 
—

 
7.0%
decreasing to
ultimate trend
of 5% in 2017

 
7.5%
decreasing to
ultimate trend
of 5% in 2017

Sensitivity of retiree welfare results
 
 
 
 
 
 
 
 
Effect of a one percentage point increase in assumed health care cost trend:          
 
 
 
 
 
 
 
 
—On total service and interest costs components
 
 

 
 

 
$
—

 
$
—

—On post-retirement benefits obligation
 
 

 
 

 
15

 
11

Effect of a one percentage point decrease in assumed health care cost trend:
 
 
 
 
 
 
 
 
—On total service and interest costs components
 
 

 
 

 
—

 
—

—On post-retirement benefits obligation
 
 

 
 

 
(13
)
 
(10
)
Schedule of fair value of pension plan assets measured on recurring basis
The Company evaluated input from its third-party actuary to determine the appropriate discount rate. The determination of the discount rate is based on various factors such as the rate on bonds, term of the expected payou
Summary of changes in the fair value of the defined benefit pension plan's Level 3 assets
The table below sets forth a summary of changes in the fair value of the defined benefit pension plan's Level 3 assets for the fiscal year ended March 31, 2014 (amounts in thousands):
Balance at March 31, 2013
$
636

Actual return on plan assets
29

Employer contributions
247

Settlements
—

Benefits paid
(255
)
Foreign currency exchange rate change
49

Balance at March 31, 2014
$
706