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Other Assets (Tables)
12 Months Ended
Mar. 31, 2017
Deferred Costs Capitalized Prepaid And Other Assets Disclosure [Abstract]  
Schedule of Other Assets

 

 

 

March 31,

 

 

 

2017

 

 

2016

 

Prepayment of land leased from ILA (1)

 

$

13,939

 

 

$

14,038

 

Deferred income taxes

 

 

10,324

 

 

 

4,007

 

Goodwill

 

 

7,192

 

 

 

7,198

 

Intangible assets and deferred costs, net (2)

 

 

5,928

 

 

 

8,334

 

Severance pay fund (3)

 

 

2,118

 

 

 

1,873

 

Other

 

 

458

 

 

 

356

 

 

 

$

39,959

 

 

$

35,806

 

 

(1)

The ILA lease agreements are standard agreements covering substantial portions of the land of Israel.  The standard agreements call for a Lease Period of 49 years, with an option for one additional Lease Period (i.e., total of 98 years).  A majority of the Company’s leases are in the beginning of the second 49 year period, and the remaining leases still in the first 49 year period have the option for the one additional lease period.  This amount was prepaid.  See Note 2.j.

(2)

See Note 8.

(3)

Under Israeli law, the Company is required to make severance or pension payments to dismissed employees and to employees terminating employment under certain other circumstances.  Deposits are made with a pension fund or other insurance plans to secure pension and severance rights for the employees in Israel.  These amounts represent the balance of the deposits in those funds (including profits) that will be used to cover the Company’s severance obligations.  See Note 12.b.

Pension, Retirement Savings and Severance Expenses

The subsidiaries’ matching contribution to the plan was $1,080, $958 and $976 for the years ended March 31, 2017, 2016 and 2015, respectively.

 

 

 

Years ended March 31,

 

 

 

2017

 

 

2016

 

 

2015

 

Pension, retirement savings and severance expenses

 

$

5,751

 

 

$

5,217

 

 

$

5,979