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Income Taxes (Tables)
 12 Months Ended
Mar. 31, 2024
Income Tax Disclosure [Abstract]  
Schedule of Effective Income Tax Rate Reconciliation The sources and tax effects of the differences were as follows:
 
 Year Ended March 31,
 202420232022
Statutory federal income tax rate (1)21.00 %21.00 %21.00 %
Expected tax at statutory rate$12,921 $15,640 $8,109 
State income taxes net of federal benefit652 2,719 759 
Foreign taxes at rates other than statutory federal rate(247)1,757 1,027 
Employee benefits1,347 1,207 (202)
US benefit on foreign derived income(686)(477)(205)
US Tax on foreign earnings757 1,257 845 
Permanent items (4)1,092 287 (956)
Valuation allowance (3)(1,109)(787)300 
Federal tax credits(1,384)(1,539)(700)
Other (3)1,437 285 (114)
Tax audit adjustments (2)(819)2,523 — 
Unremitted earnings 501 720 — 
Return to provision adjustment 440 2,454 (77)
Actual tax provision expense$14,902 $26,046 $8,786 
(1) Fiscal year 2023 and 2022 table amounts have been adjusted to be consistent with individual rate reconciling items disclosed for fiscal 2024.
(2) For fiscal 2023, the Company settled income tax assessments related to tax periods prior to the Company's acquisition of STAHL. In accordance with the tax indemnification clause of the share purchase agreement, the Company received full reimbursement from STAHL’s prior owner which was recorded as a gain in Other (income) expense, net. For fiscal 2024, the Company collected tax refunds related to a period prior to the Company's acquisition of STAHL. In accordance with the tax indemnification clause of the share purchase agreement, the Company will reimburse STAHL’s prior owner which was recorded as an loss in Other (income) expense, net.
(3) For fiscal 2024, the Company wrote off $1,142,000 of tax attributes as a result of legal entity simplification.The tax attributes had an associated valuation allowance of $1,142,000 which was also written off in fiscal 2024.
(4) For fiscal 2024, a tax impact of $525,000 from non-deductible transaction costs was incurred as part of the montratec GmbH acquisition.
Schedule of Provision for Income Tax Expense (Benefit)
The provision for income tax expense (benefit) consisted of the following:
 Year Ended March 31,
 202420232022
Current income tax expense (benefit):   
United States Federal$15,375 $7,772 $(2,482)
State taxes2,715 2,218 571 
Foreign12,097 16,356 12,666 
Deferred income tax expense (benefit):
United States(12,451)(517)1,139 
Foreign(2,834)217 (3,108)
 $14,902 $26,046 $8,786 
Schedule of Deferred Tax Assets and Deferred Tax Liabilities The tax effects of temporary differences that give rise to significant portions of the deferred tax assets and deferred tax liabilities are as follows:
 March 31,
 20242023
Deferred tax assets:  
Federal net operating loss carryforwards$11,779 $12,908 
State and foreign net operating loss carryforwards8,104 6,656 
Employee benefit plans12,518 11,609 
Insurance reserves3,301 3,500 
Accrued vacation and incentive costs3,905 4,071 
Federal tax credit carryforwards12,094 12,065 
ASC 842 Lease Liability20,120 16,544 
Equity compensation5,248 4,552 
Capitalized Research and Development Costs12,029 6,976 
Interest Carryforwards5,657 3,271 
Other3,527 1,073 
Valuation allowance(15,156)(15,978)
Deferred tax assets after valuation allowance83,126 67,247 
Deferred tax liabilities:
Property, plant, and equipment(6,542)(7,389)
ASC 842 Right-of-Use Asset(18,509)(15,706)
Intangible assets(96,728)(88,116)
Total deferred tax liabilities(121,779)(111,211)
Net deferred tax assets (liabilities)$(38,653)$(43,964)
Schedule of Classification of Deferred Income Taxes in Consolidated Balance Sheet
Deferred income taxes are classified within the consolidated balance sheets based on the following breakdown:

 March 31,
 20242023
Net non-current deferred tax assets$1,797 $2,035 
Net non-current deferred tax liabilities(40,450)(45,999)
Net deferred tax assets (liabilities)$(38,653)$(43,964)
Schedule of Uncertain Income Tax Positions
Changes in the Company’s uncertain income tax positions, excluding the related accrual for interest and penalties, are as follows:
 202420232022
Beginning balance$411 $414 $141 
Additions for prior year tax positions— — 281 
Foreign currency translation— (3)(8)
Ending balance$411 $411 $414