Income Taxes - (Tables)

12 Months Ended

Mar. 31, 2026

Income Tax Disclosure [Abstract]

Schedule of Income Before Income Taxes

Components of income before income taxes recorded in the consolidated

statements of comprehensive income were as follows:

	Years Ended March 31,
	2026	2025	2024
Domestic (1)	$1,084,446	$1,033,428	$688,981
Foreign	241,910	209,871	289,960
Total	$1,326,356	$1,243,299	$978,941

(1) Domestic income before income taxes for the year ended March 31, 2024, is presented net of intercompany dividends (or

repatriated cash) of $250,000. No intercompany dividends (or repatriated cash) that were subject to income taxes from a

foreign subsidiary were declared during years ended March 31, 2026, and 2025.

Schedule of Components of Income Tax Expense (Benefit)

Components of income tax expense (benefit) recorded in the consolidated statements of

comprehensive income were as follows:

	Years Ended March 31,
	2026	2025	2024
Current income taxes
Federal	$205,062	$177,652	$146,939
State	34,461	43,847	32,065
Foreign	53,978	61,254	41,884
Total current income taxes	293,501	282,753	220,888
Deferred income taxes
Federal	11,649	(1,134)	(3,113)
State	3,329	219	(2,336)
Foreign	(6,194)	(4,630)	3,939
Total deferred income taxes	8,784	(5,545)	(1,510)
Total income tax expense	$302,285	$277,208	$219,378

Schedule of Income Tax Expense Reconciliation

The following tables provide the reconciliation of income tax expense

(benefit) to the amount computed by applying the US federal statutory tax rate to income before income taxes. The

following table reflects the prospective adoption of ASU 2023-09 and the subsequent table provides prior year

reconciliations before the adoption of ASU 2023-09.

	Year Ended March 31,
	2026
US federal statutory tax rate	$278,535	21.0%
Domestic
United States
State income taxes, net of federal income tax benefit (1)	30,417	2.3
Effect of cross-border tax laws
Foreign tax credits	(25,919)	(2.0)
Global intangible low-taxed income (commonly known as GILTI)	25,819	1.9
Foreign derived intangible income (commonly known as FDII)	(19,456)	(1.5)
Other	3,400	0.3
Tax credits	(1,700)	(0.1)
Changes in valuation allowances	(4,060)	(0.3)
Nontaxable or nondeductible items	7,862	0.6
Other adjustments	799	0.1
Effects of changes in tax laws or rates enacted in the current period (2)	—	—
Foreign tax effects
Other foreign jurisdictions	(5,140)	(0.4)
Changes in net unrecognized tax benefits	11,728	0.9
Effective income tax expense and rate	$302,285	22.8%

(1) State taxes in California, New York, and Pennsylvania made up the majority (greater than 50 percent) of the tax effect in this

category.

(2) No impact applicable to the periods presented.

	Years Ended March 31,
	2025	2024
Computed expected income taxes	$261,093	$205,578
State income taxes, net of federal income tax benefit	45,991	32,023
Foreign rate differential	(13,078)	(15,976)
Gross unrecognized tax benefits	(1,594)	1,301
Intercompany transfers of assets	10,430	(1,817)
US tax on foreign earnings	(14,548)	4,750
Other	(11,086)	(6,481)
Total	$277,208	$219,378

Schedule of Cash Paid For Income Taxes, Net of Refunds

The following table presents cash paid for income taxes, net of refunds, reflecting the prospective adoption of ASU

2023-09:

	Year Ended March 31,
	2026
Federal	$181,284
State	18,465
Foreign
China	15,991
Other foreign jurisdictions	18,574
Total foreign	34,565
Total cash paid for income taxes, net of refunds	$234,314

Schedule of Deferred Tax Assets and Liabilities

The tax effects of temporary differences that give rise to significant portions of deferred tax assets

and deferred tax liabilities are as follows:

	As of March 31,
	2026	2025
Deferred tax assets
Amortization of intangible assets	$—	$12,413
Operating lease liabilities	42,032	38,051
Uniform capitalization adjustment to inventory	9,713	10,723
State related taxes and credit carryforwards	2,268	3,107
Reserves and accruals	80,216	69,803
Net operating loss carry-forwards	11,033	10,421
Other	964	1,188
Gross deferred tax assets	146,226	145,706
Valuation allowances	(3,957)	(5,138)
Total deferred tax assets	142,269	140,568
Deferred tax liabilities

	As of March 31,
	2026	2025
Prepaid expenses	(10,239)	(8,727)
Operating lease assets	(31,925)	(29,189)
Depreciation of property and equipment	(25,825)	(23,359)
Other	(5,779)	(1,702)
Total deferred tax liabilities	(73,768)	(62,977)
Deferred tax assets, net	$68,501	$77,591

Schedule of Unrecognized Tax Benefits

A reconciliation of the beginning and ending amounts of total gross unrecognized tax benefits are as follows:

	Years Ended March 31,
	2026	2025	2024
Beginning balance	$21,233	$45,620	$44,901
Gross increase related to current year tax positions	5,400	4,499	4,318
Gross increase related to prior year tax positions	8,669	4,662	4,629
Gross decrease related to prior year tax positions	(4,738)	(4,309)	(4,698)
Settlements with taxing authorities	(1,800)	(22,793)	(582)
Lapse of statute of limitations	(2,426)	(6,446)	(2,948)
Ending balance	$26,338	$21,233	$45,620

Schedule of Balance Sheet Location of Gross Unrecognized Tax Benefits

Total gross unrecognized tax benefits recorded in the consolidated balance sheets are as follows:

	As of March 31,
	2026	2025
Current liability
Income tax payable	$6,206	$5,688
Long-term liability
Income tax liability	20,132	15,545
Total	$26,338	$21,233