Short-Term Borrowing Arrangements

12 Months Ended

Mar. 31, 2015

Debt Disclosure [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 $795,746 and $773,471 at March 31, 2015 and 2014, respectively. The weighted average variable interest rate for the years ending March 31, 2015 and 2014 was 5.1% and 4.3%, respectively. At March 31, 2015 and 2014, amounts outstanding under the lines were $330,254 and $212,669, respectively. Unused lines of credit at March 31, 2015 amounted to $448,265 ($544,869 at March 31, 2014), net of $17,227 of letters of credit. Certain non-U.S. borrowings of approximately $61,820 and $18,598 have inventories of $56,210 and $17,415 as collateral at March 31, 2015 and 2014, respectively. At March 31, 2015 and 2014, respectively, $2,122 and $444 were held on deposit as a compensating balance.