Short-Term Borrowing Arrangements

12 Months Ended

Mar. 31, 2012

Short-Term Borrowing Arrangements [Abstract]

Short-Term Borrowing Arrangements

Short-Term Borrowing Arrangements

Excluding all long-term credit agreements, the Company has lines of credit arrangements with a number of banks under which the Company may borrow up to a total of $655,154 and $798,599 at March 31, 2012 and 2011, respectively. The weighted average variable interest rate for the years ending March 31, 2012 and 2011 was 2.9% and 3.5%, respectively. At March 31, 2012 and 2011, amounts outstanding under the lines were $374,532 and $231,407, respectively. Unused lines of credit at March 31, 2012 amounted to $266,641 ($553,211 at March 31, 2011), net of $13,981 of letters of credit lines. Certain non-U.S. borrowings of approximately $12,938 and $2,818 have inventories of $13,906 and $2,849 as collateral at March 31, 2012 and 2011, respectively. At March 31, 2012 and 2011, respectively, $302 and $296 were held on deposit as a compensating balance.