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DERIVATIVE INSTRUMENTS
 12 Months Ended
Mar. 31, 2025
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
DERIVATIVE INSTRUMENTS DERIVATIVE INSTRUMENTS
As of March 31, 2025, the Company has the following derivative contracts recorded at fair value in the consolidated balance sheets:
Designated Derivative Contracts
Non-Designated Derivative Contracts
Total
Notional value$367,695 $14,018 $381,713 
Fair value recorded in other current assets2,163 75 2,238 
Fair value recorded in other accrued expenses(64)— (64)

As of March 31, 2025, five counterparties hold the Company’s outstanding derivative contracts, all of which are expected to mature in the next twelve months. As of March 31, 2024, the Company had no outstanding derivative contracts.
The Company settled derivative contracts with notional values as follows:
Years Ended March 31,
202520242023
Designated Derivative Contracts
$258,040 $179,528 $96,345 
Non-Designated Derivative Contracts
18,565 — 31,044 
Total$276,605 $179,528 $127,389 
The following table summarizes the effect of Designated Derivative Contracts on unrealized gains or losses recorded in the consolidated statements of comprehensive income for changes in AOCL, net of tax:
Years Ended March 31,
202520242023
Gain recorded in OCI$4,387 $4,090 $1,504 
Reclassifications from AOCL into net sales(2,288)(4,090)(1,504)
Income tax expense in OCI(515)— — 
Total$1,584 $— $— 
The non-performance risk of the Company and its counterparties did not have a material impact on the fair value of its derivative contracts. As of March 31, 2025, the amount of unrealized gains on derivative contracts recorded in AOCL is expected to be reclassified into net sales within the next twelve months. Refer to Note 10, “Stockholders’ Equity,” for further information on the components of AOCL.