Income Taxes (Tables)

12 Months Ended

Mar. 31, 2012

Income Taxes

Summary of Income Tax Contingencies

The following table presents the changes to unrecognized tax benefits during the years ended March 31, 2012, 2011and 2010:

	2012			2011			2010
Balance at April 1	$	9,019		$	9,004		$	20,129
Increase for current year tax positions	58			3,500			2,292
Increases (reductions) for prior year tax positions	3,030			5,539			(1,698		)
Impact of changes in exchange rates	(303		)	(63		)	3,664
Reduction for settlements	—			(8,961		)	(15,383		)
Balance at March 31	$	11,804		$	9,019		$	9,004

Schedule of Income before Income Tax, Domestic and Foreign

The components of income before income taxes, equity in net income of investee companies and minority interests consisted of the following:

	Years Ended March 31,
	2012			2011			2010
U.S.	$	(21,923	)	$	(51,092	)	$	(43,645	)
Non-U.S.	76,081			83,941			117,837
Total.	$	54,158		$	32,849		$	74,192

Schedule of Components of Income Tax Expense (Benefit)

The details of the amount shown for income taxes in the Statements of Consolidated Operations and Comprehensive Income (Loss) follow:

	Years Ended March 31,
	2012			2011		2010
Current
Federal	$	—		$	472	$	—
State	—			—		(7,509		)
Non-U.S.	31,798			7,346		6,173
	$	31,798		$	7,818	$	(1,336	)
Deferred
Federal	$	—		$	97,311	$	(9,271	)
State	—			631		(631		)
Non-U.S.	(6,759		)	1,700		7,447
	$	(6,759	)	$	99,642	$	(2,455	)
Total	$	25,039		$	107,460	$	(3,791	)

Schedule of Effective Income Tax Rate Reconciliation

The reasons for the difference between income tax expense based on income before income taxes, equity in net income of investee companies and minority interests and the amount computed by applying the U.S. statutory federal income tax rate to such income are as follows:

	Years Ended March 31,
	2012			2011			2010
Tax expense at U.S. statutory rate	$	18,955		$	11,497		$	25,967
Effect of non-U.S. income taxes	(4,712		)	(7,322		)	(16,309		)
Goodwill amortization	—			(4,640		)	(8,374		)
Change in valuation allowance	1,617			111,679			(3,345		)
Increase (decrease) in reserves for uncertain tax positions	3,452			4,489			(8,060		)
Exchange effects and currency translation	3,958			(7,120		)	5,680
Permanent items	1,769			(1,123		)	650
Actual tax expense (benefit)	$	25,039		$	107,460		$	(3,791	)

Schedule of Deferred Tax Assets and Liabilities

The deferred tax liabilities (assets) are comprised of the following:

	March 31, 2012			March 31, 2011
Deferred tax liabilities:
Intangible assets	$	8,404		$	9,044
Fixed assets	10,662			9,135
Total deferred tax liabilities	$	19,066		$	18,179
Deferred tax assets:
Reserves and accruals	$	(58,786	)	$	(77,746	)
Tax credits	(48,897		)	(48,659		)
Tax loss carryforwards	(64,624		)	(63,228		)
Derivative transactions	(10,775		)	(12,760		)
Postretirement and other benefits	(32,361		)	(29,786		)
Unrealized exchange loss	(14,530		)	—
Other	(14,713		)	(752		)
Gross deferred tax assets	(244,686		)	(232,931		)
Valuation allowance	143,345			138,787
Total deferred tax assets	$	(101,341	)	$	(94,144	)
Net deferred tax asset	$	(82,275	)	$	(75,965	)

Schedule of Current and Non Current Tax Assets and Liabilities

The following table presents the breakdown between current and non-current (assets) liabilities:

	March 31, 2012			March 31, 2011
Current asset	$	(23,855	)	$	(3,955	)
Current liability	5,464			6,881
Non-current asset	(73,378		)	(82,707		)
Non-current liability	9,494			3,816
Net deferred tax asset	$	(82,275	)	$	(75,965	)