View Filing Data

Accrued Income Taxes, Current

2,356,085

2,322,928

Other assets

51,581

60,212

Total assets

5,425,582

5,073,071

Current liabilities:

Accounts payable

149,341

152,913

14,013

15,460

Accrued payroll and other related liabilities

128,261

109,058

Capital Lease Obligations, Current

19,809

Accrued expenses and other

192,183

187,765

Total current liabilities

503,607

465,196

Long-term indebtedness

1,150,521

1,183,227

Deferred income taxes, net

160,270

151,038

Capital Lease Obligations, Noncurrent

114,114

Other Liabilities, Noncurrent

90,346

87,812

Total liabilities

2,018,858

1,887,273

Commitments and contingencies (see note 10)

Ordinary shares, with $0.001 and $75.00 par value, respectively; 500,000 shares authorized; 84,924 and 84,517 ordinary shares issued and outstanding, respectively

1,982,164

1,998,564

Retained earnings

1,647,175

1,339,024

Accumulated other comprehensive income

(235,463)

(159,778)

Total shareholders' equity

3,393,876

3,177,810

Noncontrolling interest

12,848

7,988

Total equity

3,406,724

3,185,798

Total liabilities and equity

$ 5,425,582

$ 5,073,071

[1]	Net allowance for doubtful accounts and allowance for sales and returns.

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($)
$ in Thousands

Mar. 31, 2020

Mar. 31, 2019

Statement of Financial Position [Abstract]

Accounts Receivable, Allowance for Credit Loss, Current

$ 12,051

$ 9,645

^[1]

Serial preferred shares authorized

50,000,000

Preferred Stock, Shares Outstanding

Preferred Stock, Par or Stated Value Per Share

$ 0.001

Common shares issued

84,924,000

84,517,000

Common shares outstanding

84,924,000

84,517,000

Common Stock, Par or Stated Value Per Share

$ 0.001

$ 75.00

[1]	Net allowance for doubtful accounts and allowance for sales and returns.

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Mar. 31, 2018
Revenues:
Total revenues	$ 3,030,895	$ 2,782,170	$ 2,619,996
Cost of revenues:
Total cost of revenues	1,710,972	1,606,743	1,527,250
Gross Profit	1,319,923	1,175,427	1,092,746
Operating expenses:
Selling, general, and administrative	716,731	669,937	631,978
Research and development	65,546	63,038	60,782
Restructuring Costs	673	30,987	103
Total operating expenses	782,950	763,962	692,863
Income (loss) from operations	536,973	411,465	399,883
Non-operating expenses, net:
Interest expense	40,279	45,015	50,629
Interest income and miscellaneous expense	(1,987)	(3,020)	(5,728)
Total non-operating expenses, net	38,292	41,995	44,901
Income (loss) before income tax expense (benefit)	498,681	369,470	354,982
Income tax expense (benefit)	90,876	64,394	63,360
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest	407,805	305,076	291,622
Net Income (Loss) Attributable to Noncontrolling Interest	200	1,025	707
Net (loss) income	$ 407,605	$ 304,051	$ 290,915
Net income (loss) per common share
Basic	$ 4.81	$ 3.59	$ 3.42
Diluted	4.76	3.56	3.39
Cash dividends declared per common share outstanding	$ 1.45	$ 1.33	$ 1.21
Service [Member]
Revenues:
Total revenues	$ 1,628,107	$ 1,486,145	$ 1,399,363
Cost of revenues:
Cost of Goods and Services Sold	960,770	904,448	881,073
Product [Member]
Revenues:
Total revenues	1,402,788	1,296,025	1,220,633
Cost of revenues:
Cost of Goods and Services Sold	$ 750,202	$ 702,295	$ 646,177

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Mar. 31, 2018
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest	$ 407,805	$ 305,076	$ 291,622
Net Income (Loss) Attributable to Noncontrolling Interest	200	1,025	707
Net Income (Loss) Attributable to Parent	407,605	304,051	290,915
Other Comprehensive Income (Loss), Pension and Other Postretirement Benefit Plans, Tax	295	(423)	1,860
Other Comprehensive Income (Loss), Securities, Available-for-sale, Adjustment, after Tax	0	0	1,792
Other Comprehensive Income (Loss), Defined Benefit Plan, Gain (Loss) Arising During Period, after Tax	(2,609)	2,538	(4,387)
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Gain (Loss) Arising During Period, Net of Tax	(73,076)	(172,031)	254,982
Total other comprehensive (loss) income attributable to shareholders	(75,685)	(169,493)	252,387
Comprehensive Income (Loss), Net of Tax, Attributable to Parent	331,920	134,558	543,302
Other Comprehensive Income (Loss), Securities, Available-for-sale, Tax	0	0	516
Accumulated Other Comprehensive Income (Loss)
Total other comprehensive (loss) income attributable to shareholders	$ (75,685)	$ (169,493)	$ 252,387

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands

12 Months Ended

Mar. 31, 2020

Mar. 31, 2019

Mar. 31, 2018

Net Income (Loss), Including Portion Attributable to Noncontrolling Interest

$ 407,805

$ 305,076

$ 291,622

Adjustments to reconcile net (loss) income to net cash provided by operating activities:

Depreciation, depletion, and amortization

197,235

225,921

178,332

Deferred income taxes

9,423

(6,511)

(24,722)

Share-based compensation

23,811

23,965

22,187

Loss on the disposal of property, plant, equipment, and intangibles, net

(174)

924

2,582

Loss (Gain) on Disposition of Business

1,770

(1,370)

^[1]

14,547

^[1]

Other items

426

(18,397)

32,229

Changes in operating assets and liabilities:

Accounts receivable, net

(17,866)

(48,486)

(37,731)

Inventories, net

(39,067)

(14,617)

(5,178)

Other current assets

3,784

(7,371)

(1,244)

Accounts payable

(2,779)

21,244

563

Accruals and other, net

6,191

59,127

(15,555)

Net cash provided by operating activities

590,559

539,505

457,632

Investing activities:

Purchases of property, plant, equipment, and intangibles, net

(214,516)

(189,715)

(165,457)

Proceeds from the sale of property, plant, equipment, and intangibles

4,156

5,567

2,094

Payments to Acquire Investments

439

2,478

8,888

(4,955)

Investments in businesses, net of cash acquired

(109,814)

(13,313)

(46,271)

Payments for (Proceeds from) Other Investing Activities

(13,286)

(3,083)

Net cash used in investing activities

(319,735)

(213,224)

(203,829)

Financing activities:

Repayments of Long-term Debt

(85,000)

(222,500)

Proceeds Under Credit Facility, net

(26,500)

(27,087)

29,065

Amortization of Financing Costs

(1,281)

(488)

(2,029)

Payments of Merger Related Costs, Financing Activities

(626)

(1,327)

(2,064)

Repurchases of ordinary shares

(51,241)

(81,494)

(65,485)

Cash dividends paid to common shareholders

(123,034)

(112,503)

(102,929)

Proceeds from Noncontrolling Interests

6,050

Payments to Noncontrolling Interests

(1,245)

(255)

(1,400)

Proceeds from (Payments for) Other Financing Activities

34,731

13,362

11,158

Net cash (used in) provided by financing activities

(163,146)

(294,792)

(356,184)

Effect of exchange rate changes on cash and cash equivalents

(8,730)

(12,390)

20,997

Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect

98,948

19,099

(81,384)

Cash and cash equivalents at beginning of period

220,633

201,534

282,918

Cash and cash equivalents at end of period

$ 319,581

$ 220,633

$ 201,534

[1]

For more information regarding our recent acquisitions and divestitures see Note 18 titled, "Business Acquisitions and Divestitures". Amortization of purchased intangible assets fiscal 2019 total includes an impairment charge of $16,249, see Note 3 titled, "Goodwill and Intangible Assets", for more information.

CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY - USD ($) $ in Thousands	Total	Ordinary Shares	Noncontrolling Interest	Stock Issued in exchange in Redomiciliation [Member]	Common Stock Retired in Redomiciliation [Member] [Member]	AOCI Attributable to Parent [Member]	Preferred Stock Retired in Redomiciliation [Member] [Member]	Retained Earnings [Member]	Stock retired in Redomiciliation [Member] [Member]
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	$ 2,810,033	$ 2,085,134	$ 11,431			$ (240,702)		$ 954,155
Shares, Issued		84,948,000
Preferred Stock, Shares Outstanding	100,000
Preferred shares	$ 15
Ordinary Shares, Dividends, Per Share, Cash Paid	$ 1.21
Net Income (Loss) Attributable to Parent	$ 290,915							290,915
Net Income (Loss) Attributable to Noncontrolling Interest	707		707
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest	291,622
Total other comprehensive loss attributable to shareholders	252,387					252,387
Shares Issued, Shares, Share-based Payment Arrangement, after Forfeiture		592,000
Shares Issued, Value, Share-based Payment Arrangement, after Forfeiture	32,470	$ 32,470
Stock Repurchased and Retired During Period, Shares		(793,000)
Stock Repurchased and Retired During Period, Value	(65,485)	$ (69,567)						4,082
Noncontrolling Interest, Decrease from Distributions to Noncontrolling Interest Holders	(1,400)		(1,400)
Dividends, Ordinary Shares, Cash	(102,929)							(102,929)
Noncontrolling Interest, Change in Redemption Value	602		602
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	$ 3,217,300
Stockholders' Equity Attributable to Parent		$ 2,048,037				11,685		1,146,223
Noncontrolling interest			11,340
Shares, Issued		84,747,000
Preferred Stock, Shares Outstanding	100,000
Preferred shares	$ 15
Ordinary Shares, Dividends, Per Share, Cash Paid	$ 1.33
Net Income (Loss) Attributable to Parent	$ 304,051							304,051
Net Income (Loss) Attributable to Noncontrolling Interest	1,025		1,025
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest	305,076
Total other comprehensive loss attributable to shareholders	(169,493)					(169,493)
Shares Issued, Shares, Share-based Payment Arrangement, after Forfeiture		533,000
Shares Issued, Value, Share-based Payment Arrangement, after Forfeiture	36,941	$ 36,941
Stock Repurchased and Retired During Period, Shares		(763,000)			(84,514,000)		(100,000)
Stock Repurchased and Retired During Period, Value	(81,494)	$ (86,414)			$ (10,592,117)		$ (15)	4,920	$ (10,592,132)
Stock Issued During Period, Shares, New Issues				84,514,000
Stock Issued During Period, Value, New Issues				$ 10,592,117
New Accounting Pronouncement or Change in Accounting Principle, Effect of Change on Net Income								(3,667)
New Accounting Pronouncement or Change in Accounting Principle, Effect of Adoption, Quantification	(5,637)					(1,970)
Noncontrolling Interest, Decrease from Distributions to Noncontrolling Interest Holders	(255)		(255)
Dividends, Ordinary Shares, Cash	(112,503)							(112,503)
Noncontrolling Interest, Change in Redemption Value	(4,122)		(4,122)
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	3,185,798
Stockholders' Equity Attributable to Parent	3,177,810	$ 1,998,564				(159,778)		1,339,024
Noncontrolling interest	$ 7,988		7,988
Shares, Issued		84,517,000
Preferred Stock, Shares Outstanding	0
Preferred shares	$ 0
Ordinary Shares, Dividends, Per Share, Cash Paid	$ 1.45
Net Income (Loss) Attributable to Parent	$ 407,605							407,605
Net Income (Loss) Attributable to Noncontrolling Interest	200		200
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest	407,805
Total other comprehensive loss attributable to shareholders	(75,685)					(75,685)
Shares Issued, Shares, Share-based Payment Arrangement, after Forfeiture		803,000
Shares Issued, Value, Share-based Payment Arrangement, after Forfeiture	58,421	$ 58,421	0			0		0
Stock Repurchased and Retired During Period, Shares		(396,000)
Stock Repurchased and Retired During Period, Value	(51,241)	$ (74,821)						23,580
Noncontrolling Interest, Decrease from Distributions to Noncontrolling Interest Holders	(1,245)		(1,245)
Contributions from noncontrolling interests	6,050		6,050
Dividends, Ordinary Shares, Cash	(123,034)	0	0			0		(123,034)
Noncontrolling Interest, Change in Redemption Value	(145)		(145)
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	3,406,724
Stockholders' Equity Attributable to Parent	3,393,876	$ 1,982,164				$ (235,463)		$ 1,647,175
Noncontrolling interest	$ 12,848		$ 12,848
Shares, Issued		84,924,000
Preferred Stock, Shares Outstanding	0
Preferred shares	$ 0

CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY (Parenthetical) - $ / shares	12 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Mar. 31, 2018
Statement of Stockholders' Equity [Abstract]
Ordinary Shares, Dividends, Per Share, Cash Paid	$ 1.45	$ 1.33	$ 1.21

Nature of Operations and Summary of Significant Accounting Policies

12 Months Ended

Mar. 31, 2020

Accounting Policies [Abstract]

Nature of Operations and Summary of Significant Accounting Policies

1. NATURE OF OPERATIONS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Nature of Operations. On March 28, 2019, STERIS plc, a public limited company organized under the laws of England and Wales (“STERIS UK”), completed a redomiciliation from the United Kingdom to Ireland (the “Redomiciliation”). The Redomiciliation was achieved through the insertion of a new Irish public limited holding company (“STERIS Ireland”) on top of STERIS UK pursuant to a court-approved scheme of arrangement under English law (the “Scheme”). Following the Scheme effectiveness, STERIS UK was re-registered as a private limited company with the name STERIS Limited, and STERIS Emerald IE Limited, a company established in Ireland and a wholly-owned direct subsidiary of STERIS Ireland, was interposed as the direct parent company of STERIS UK.

STERIS plc is a leading provider of infection prevention and other procedural products and services. We offer our Customers a unique mix of innovative consumable products, such as detergents, gastrointestinal ("GI") endoscopy accessories, barrier product solutions, and other products and services, including: equipment installation and maintenance, microbial reduction of medical devices, instrument and scope repair solutions, laboratory testing services, on-site and off-site reprocessing, and capital equipment products, such as sterilizers and surgical tables, and connectivity solutions such as operating room (“OR”) integration.

We operate and report in four reportable business segments: Healthcare Products, Healthcare Specialty Services, Life Sciences, and Applied Sterilization Technologies. We describe our business segments in Note 11 to our consolidated financial statements titled, "Business Segment Information."

Our fiscal year ends on March 31. References in this Annual Report to a particular "year," "fiscal," "fiscal year," or "year-end" mean our fiscal year. The significant accounting policies applied in preparing the accompanying consolidated financial statements of the Company are summarized below.

Principles of Consolidation. We use the consolidation method to report our investment in our subsidiaries. Therefore, the accompanying consolidated financial statements include the accounts of the Company and its wholly-owned and majority-owned subsidiaries. We eliminate inter-company accounts and transactions when we consolidate these accounts. Investments in equity of unconsolidated affiliates, over which the Company has significant influence, but not control, over the financial and operating polices, are accounted for primarily using the equity method. These investments are immaterial to the Company's Consolidated Financial Statements.

Use of Estimates. We make certain estimates and assumptions when preparing financial statements according to U.S. GAAP that affect the reported amounts of assets and liabilities at the financial statement dates and the reported amounts of revenues and expenses during the periods presented. These estimates and assumptions involve judgments with respect to many factors that are difficult to predict and are beyond our control. Actual results could be materially different from these estimates. We revise the estimates and assumptions as new information becomes available.

Cash Equivalents and Supplemental Cash Flow Information. Cash equivalents are all highly liquid investments with a maturity of three months or less when purchased. We invest our excess cash in short-term instruments including money market funds and time deposits with major banks and financial institutions. We select investments in accordance with the criteria established in our investment policy. Our investment policy specifies, among other things, maturity, credit quality and concentration restrictions with the objective of preserving capital and maintaining adequate liquidity.

Information supplementing our Consolidated Statements of Cash Flows is as follows:



Years Ended March 31,	2020		2019		2018
Cash paid during the year for:
Interest	$	38,021	$	44,118	$	48,663
Income taxes	92,462		64,668		85,629
Cash received during the year for income tax refunds	4,378		2,189		7,747

Revenue Recognition and Associated Liabilities. We adopted Accounting Standards Update ("ASU") 2014-09 “Revenue from Contracts with Customers” and the subsequently issued amendments on April 1, 2018 using the modified retrospective approach to contracts that were not completed as of April 1, 2018. Under this standard, certain capital equipment contracts are comprised of a single performance obligation, resulting in the deferral of the corresponding capital equipment revenue and cost of revenues until installation is complete. Previously, these capital equipment revenues and cost of revenues were recognized based upon shipping terms. We recorded a cumulative effect adjustment in the beginning of fiscal 2019 to Retained earnings of $5,637, based on the terms and conditions for certain open capital equipment contracts as of March 31, 2018.

Revenue is recognized when obligations under the terms of the contract are satisfied and control of the promised products or services have transferred to the Customer. Revenues are measured at the amount of consideration that we expect to be paid in exchange for the products or services. Product revenue is recognized when control passes to the Customer, which is generally based on contract or shipping terms. Service revenue is recognized when the Customer benefits from the service, which occurs either upon completion of the service or as it is provided to the Customer. Our Customers include end users as well as dealers and distributors who market and sell our products. Our revenue is not contingent upon resale by the dealer or distributor, and we have no further obligations related to bringing about resale. Our standard return and restocking fee policies are applied to sales of products. Shipping and handling costs charged to Customers are included in Product revenues. The associated expenses are treated as fulfillment costs and are included in Cost of revenues. Revenues are reported net of sales and value-added taxes collected from Customers.

We have individual Customer contracts that offer discounted pricing. Dealers and distributors may be offered sales incentives in the form of rebates. We reduce revenue for discounts and estimated returns, rebates, and other similar allowances in the same period the related revenues are recorded. The reduction in revenue for these items is estimated based on historical experience and trend analysis to the extent that it is probable that a significant reversal of revenue will not occur. Estimated returns are recorded gross on the Consolidated Balance Sheets.

In transactions that contain multiple performance obligations, such as when products, maintenance services, and other services are combined, we recognize revenue as each product is delivered or service is provided to the Customer. We allocate the total arrangement consideration to each performance obligation based on its relative standalone selling price, which is the price for the product or service when it is sold separately.

Payment terms vary by the type and location of the Customer and the products or services offered. Generally, the time between when revenue is recognized and when payment is due is not significant. We do not evaluate whether the selling price contains a financing component for contracts that have a duration of less than one year.

We do not capitalize sales commissions as substantially all of our sales commission programs have an amortization period of one year or less.

Certain costs to fulfill a contract are capitalized and amortized over the term of the contract if they are recoverable, directly related to a contract and generate resources that we will use to fulfill the contract in the future. At March 31, 2020, assets related to costs to fulfill a contract were not material to our Consolidated Financial Statements.

Refer to Note 11, titled "Business Segment Information" for disaggregation of revenue.

Product Revenue

Product revenues consist of revenues generated from sales of consumables and capital equipment. These contracts are primarily based on a Customer’s purchase order and may include a Distributor, Dealer or Group Purchasing Organization (GPO) agreement. We recognize revenue for sales of product when control passes to the Customer, which generally occurs either when the products are shipped or when they are received by the Customer. Revenue related to certain capital equipment products is deferred until installation is complete as the capital equipment and installation are highly integrated and form a single performance obligation.

Service Revenue

Within our Healthcare Products and Life Sciences segments, service revenues consist of revenue generated from parts and labor associated with the maintenance, repair and installation of capital equipment. These contracts are primarily based on a Customer’s purchase order and may include a Distributor, Dealer, or GPO agreement. For maintenance, repair and installation of capital equipment, revenue is recognized upon completion of the service.

We also offer preventive maintenance and separately priced extended warranty agreements to our Customers, which require us to maintain and repair our products over the duration of the contract. Generally, these contract terms are cancelable without penalty and range from one to five years. Amounts received under these Customer contracts are initially recorded as a service liability and are recognized as service revenue ratably over the contract term using a time-based input measure.

Within our Healthcare Specialty Services segment, revenues relate primarily to outsourced reprocessing services and instrument repairs. Contracts for outsourced reprocessing services are primarily based on an agreement with a Customer, ranging in length from several months to 15 years. Outsourced reprocessing services revenue is recognized ratably over the contract term using a time-based input measure, adjusted for volume and other performance metrics, to the extent that it is probable that a significant reversal of revenue will not occur. Contracts for instrument repairs are primarily based on a Customer’s purchase order, and the associated revenue is recognized upon completion of the repair.

Within our Applied Sterilization Technologies segment, service revenues include contract sterilization and laboratory services. Sales contracts for contract sterilization and laboratory services are primarily based on a Customer’s purchase order and associated Customer agreement and revenues are generally recognized upon completion of the service.

Contract Liabilities

Payments received from Customers are based on invoices or billing schedules as established in contracts with Customers. Deferred revenue is recorded when payment is received in advance of performance under the contract. Deferred revenue is recognized as revenue upon completion of the performance obligation, which generally occurs within one year. During fiscal 2020, we recognized revenue of $48,602 that was included in our contract liability balance at the beginning of the period. During fiscal 2019, we recognized revenue of $30,169 that was included in our contract liability balance at the beginning of the period.

Refer to Note 7, titled "Additional Consolidated Balance Sheet Information" for Deferred revenue balances.

Service Liabilities

Payments received in advance of performance for cancelable preventative maintenance and separately priced extended warranty contracts are recorded as service liabilities. Service liabilities are recognized as revenue as performance is rendered under the contract. Prior to the adoption of Accounting Standards Codification ("ASC") 606, these amounts were included in Deferred revenues.

Refer to Note 7, titled "Additional Consolidated Balance Sheet Information" for Service liability balances.

Remaining Performance Obligations

Remaining performance obligations reflect only the performance obligations related to agreements for which we have a firm commitment from a Customer to purchase, and exclude variable consideration related to unsatisfied performance obligations. With regard to products, these remaining performance obligations include capital equipment and consumable orders which have not shipped. With regard to service, these remaining performance obligations primarily include installation, certification, and outsourced reprocessing services. As of March 31, 2020, the transaction price allocated to remaining performance obligations was approximately $940,000. We expect to recognize approximately 49% of the transaction price within one year and approximately 45% beyond one year. The remainder has yet to be scheduled for delivery.

Accounts Receivable. Accounts receivable are presented at their face amount, less allowances for sales returns and uncollectible accounts. Accounts receivable consist of amounts billed and currently due from Customers and amounts earned but unbilled. We generally obtain and perfect security interest in products sold in the United States when we have a concern with the Customer's risk profile.

We maintain an allowance for uncollectible accounts receivable for estimated losses in the collection of amounts owed by Customers. We estimate the allowance based on analyzing a number of factors, including amounts written off historically, Customer payment practices, and general economic conditions. We also analyze significant Customer accounts on a regular basis and record a specific allowance when we become aware of a specific Customer’s inability to pay. As a result, the related accounts receivable are reduced to an amount that we reasonably believe is collectible.

We maintain an allowance for sales returns based upon known returns and estimated returns for both capital equipment and consumables. We estimate returns of capital equipment and consumables based upon recent historical experience.

Inventories, net. Inventories are stated at the lower of their cost or market value. We determine cost based upon a combination of the last-in, first-out (“LIFO”) and first-in, first-out (“FIFO”) cost methods. For inventories valued using the LIFO method, we believe that the use of the LIFO method results in a matching of current costs and revenues. Inventories valued using the LIFO method represented approximately 25.3% and 25.2% of total inventories at March 31, 2020 and 2019, respectively. Inventory costs include material, labor, and overhead. If we had used only the FIFO method of inventory costing, inventories would have been $16,937 and $16,757 higher than those reported at March 31, 2020 and 2019, respectively.

We review inventory on an ongoing basis, considering factors such as deterioration, obsolescence, and other items. We record an allowance for estimated losses when the facts and circumstances indicate that particular inventories will not be usable. If future market conditions vary from those projected, and our estimates prove to be inaccurate, we may be required to write-down inventory values and record an adjustment to cost of revenues.

Property, Plant, and Equipment. Our property, plant, and equipment consists of land and land improvements, buildings and leasehold improvements, machinery and equipment, information systems, radioisotope (cobalt-60), and construction in progress. Property, plant, and equipment are presented at cost less accumulated depreciation and depletion. We capitalize additions and improvements. Repairs and maintenance are charged to expense as they are incurred.

Land is not depreciated and construction in progress is not depreciated until placed in service. Depreciation of most assets is computed on the cost less the estimated salvage value by using the straight-line method over the estimated remaining useful lives. Depletion of radioisotope is computed using the annual decay factor of the material, which is similar to the sum-of-the-years-digits method.

We generally depreciate or deplete property, plant, and equipment over the useful lives presented in the following table:



Asset Type		Useful Life (years)
Land improvements		3-40
Buildings and leasehold improvements		2-50
Machinery and equipment		2-20
Information Systems		2-20
Radioisotope (cobalt-60)		20

When we sell, retire, or dispose of property, plant, and equipment, we remove the asset’s cost and accumulated depreciation from our Consolidated Balance Sheet. We recognize the net gain or loss on the sale or disposition in the Consolidated Statements of Income in the period when the transaction occurs.

Interest. We capitalize interest costs incurred during the construction of long-lived assets. We capitalized interest costs of $428 and $495 for the years ended March 31, 2020 and 2019, respectively. Total interest expense for the years ended March 31, 2020, 2019, and 2018 was $40,279, $45,015, and $50,629, respectively.

Identifiable Intangible Assets. Our identifiable intangible assets include product technology rights, trademarks, licenses, and Customer and vendor relationships. We record these assets at cost, or when acquired as part of a business acquisition, at estimated fair value. We generally amortize identifiable intangible assets over periods ranging from 5 to 20 years using the straight-line method. Our intangible assets also include indefinite lived assets including certain trademarks and tradenames that were acquired in connection with business combinations. These assets are tested at least annually for impairment.

Investments. Investments in marketable securities are stated at fair value and are included in "Other assets" on the Consolidated Balance Sheets. Following the fiscal 2019 adoption of ASU 2016-01, "Financial Instruments - Overall - Recognition and Measurement of Financial Assets and Liabilities, changes in the fair value of these investments are recorded in the "Interest income and miscellaneous expense line" of the Consolidated Statement of Income.

Asset Impairment Losses. Property, plant, equipment, and identifiable intangible assets are reviewed for impairment when indicators of impairment exist and circumstances indicate that the carrying value of such assets may not be recoverable. Impaired assets are recorded at the lower of carrying value or estimated fair value. We monitor for such indicators on an ongoing basis and if an impairment exists, we record the loss in the Consolidated Statements of Income during that period.

Asset Retirement Obligations. We incur retirement obligations for certain assets. We record initial liabilities for the asset retirement obligations ("ARO") at fair value. Recognition of ARO includes: estimating the present value of a liability and offsetting asset, the subsequent accretion of that liability and depletion of the asset, and a periodic review of the ARO liability estimates and discount rates used in the analysis. We provide additional information about our asset retirement obligations in Note 5 to our consolidated financial statements titled, “Property, Plant and Equipment.”

Acquisitions of Business. Assets acquired and liabilities assumed in a business combination are accounted for at fair value on the date of acquisition. Costs related to the acquisition are expensed as incurred.

Goodwill. We perform our annual impairment test for goodwill in the third quarter of each year. We may consider qualitative indicators of the fair value of a reporting unit when it is unlikely that a reporting unit has impaired goodwill. We may also utilize a discounted cash flow analysis that requires certain assumptions and estimates be made regarding market conditions and our future profitability. We review the book value compared to the fair value at the reporting unit level. We calculate the fair value of our reporting units based on the present value of estimated future cash flows. Management's judgment is necessary to evaluate the impact of operating and macroeconomic changes and to estimate future cash flows to measure fair value. Assumptions used in our impairment evaluations, such as forecasted growth rates and cost of capital, are consistent with internal projections, strategic plans, and operating plans. We believe such assumptions and estimates are also comparable to those that would be used by other market place participants.

Self-Insurance Liabilities. We record a liability for self-insured risks that we retain for general and product liabilities, workers’ compensation, and automobile liabilities based on actuarial calculations. We use our historical loss experience and actuarial methods to calculate the liability. This liability includes estimates for both losses and incurred but not reported claims. We review the assumptions used to calculate the estimated liability at least annually to evaluate the adequacy of the amount recorded. We maintain insurance policies to cover losses greater than our estimated liability, which are subject to the terms and conditions of those policies. We are also self-insured for certain employee medical claims. We estimate a liability for incurred but not reported claims based upon recent claims experience.

Benefit Plans. We sponsor defined benefit pension plans. We also sponsor a post-retirement benefits plan for certain former employees. We determine our costs and obligations related to these plans by evaluating input from third-party professional advisers. These costs and obligations are affected by assumptions including the discount rate, expected long-term rate of return on plan assets, the annual rate of change in compensation for eligible employees, estimated changes in costs of healthcare benefits, and other factors. We review the assumptions used on an annual basis.

We recognize an asset for the overfunded status or a liability for the underfunded status of defined benefit pension and post-retirement benefits plans in our consolidated balance sheets. This amount is measured as the difference between the fair value of plan assets and the benefit obligation (the projected benefit obligation for pension plans and the accumulated post-retirement benefit obligation for other post-retirement benefit plans). Changes in the funded status of the plans are recorded in other comprehensive income in the year they occur. We measure plan assets and obligations as of the balance sheet date. We provide additional information about our pension and other post-retirement benefits plans in Note 9 to our consolidated financial statements titled, “Benefit Plans.”

Fair Value of Financial Instruments. Except for long-term debt, our financial instruments are highly liquid or have short-term maturities. We provide additional information about the fair value of our financial instruments in Note 17 titled, “Fair Value Measurements.”

Foreign Currency Translation. Most of our operations use their local currency as their functional currency. Financial statements of subsidiaries are translated into U.S. dollars using the exchange rate at each balance sheet date for assets and liabilities and a weighted average exchange rate for each period for revenues, expenses, gains and losses. Translation adjustments for subsidiaries whose local currency is their functional currency are recorded as a component of accumulated other comprehensive income (loss) within equity. Transaction gains and losses resulting from fluctuations in currency exchange rates on transactions denominated in currencies other than the functional currency are recognized as incurred in the accompanying Consolidated Statement of Income, except for certain inter-company balances designated as long-term in nature.

Forward and Swap Contracts. We enter into foreign currency forward contracts to hedge assets and liabilities denominated in foreign currencies, including inter-company transactions.We may also enter into commodity swap contracts to hedge price changes in nickel that impact raw materials included in our cost of revenues. We do not use derivative financial instruments for speculative purposes. These contracts are marked to market, with gains and losses recognized within “Selling, general, and administrative expenses” or "Cost of revenues" in the accompanying Consolidated Statements of Income.

Warranty. Warranties are provided on the sale of certain of our products and services and an accrual for estimated future claims is recorded at the time revenue is recognized. We estimate warranty expense based primarily on historical warranty claim experience.

Shipping and Handling. We record shipping and handling costs in costs of revenues. Shipping and handling costs charged to Customers are recorded as revenues in the period the product revenues are recognized.

Advertising Expenses. Costs incurred for communicating, advertising and promoting our products are generally expensed when incurred as a component of Selling, General and Administrative Expense. We incurred $12,652, $10,691, and $10,886 of advertising costs during the years ended March 31, 2020, 2019, and 2018, respectively.

Research and Development. We incur research and development costs associated with commercial products and expense these costs as incurred. If a Customer reimburses us for research and development costs, the costs are charged to the related contracts as costs of revenues.

Income Taxes. We defer income taxes for all temporary differences between pre-tax financial and taxable income and between the book and tax basis of assets and liabilities. We record valuation allowances to reduce net deferred tax assets to an amount that we expect will more-likely-than-not be realized. In making such a determination, we consider all available information, including scheduled reversals of deferred tax liabilities, projected future taxable income, tax planning strategies, and if applicable, any carryback claims that can be filed. In the event we were to determine that we would be able to realize our deferred income tax assets in the future in excess of their net recorded amount, we would make an adjustment to the valuation allowance which would reduce the provision for income taxes and the effective tax rate.

We evaluate uncertain tax positions in accordance with a two-step process. The first step is recognition: The determination of whether or not it is more-likely-than-not that a tax position will be sustained upon examination, including resolution of any related appeals or litigation processes, based on the technical merits of the position. In evaluating whether a tax position has met the more-likely-than-not recognition threshold, we presume that the position will be examined by the appropriate tax authority and that the tax authority will have full knowledge of all relevant information. The second step is measurement: A tax position that meets the more-likely-than-not threshold is measured to determine the amount of benefit to recognize in the financial statements. The measurement process requires the determination of the range of possible settlement amounts and the probability of achieving each of the possible settlements. The tax position is measured at the largest amount of benefit that is greater than fifty percent likely of being realized upon ultimate settlement. No tax benefits are recognized for positions that do not meet the more-likely-than-not threshold. Tax positions that previously failed to meet the more-likely-than-not threshold are recognized in the first subsequent financial reporting period in which that threshold is met. Previously recognized tax positions that no longer meet the more-likely-than-not recognition threshold are derecognized in the first subsequent financial reporting period in which the threshold is no longer met. We describe income taxes further in Note 8 to our consolidated financial statements titled, “Income Taxes.”

Share-Based Compensation. We describe share-based compensation in Note 14 to our consolidated financial statements titled, “Share-Based Compensation.” We measure the cost of employee services received in exchange for an award of equity instruments based on the grant-date fair value of the award. We record liability awards at fair value each reporting period and the change in fair value is reflected as share-based compensation expense in our Consolidated Statements of Income. The expense is classified as cost of goods sold, selling, general and administrative expenses or research and development expenses in a manner consistent with the employee’s compensation and benefits. These costs are recognized in the Consolidated Statement of Income over the period during which an employee is required to provide service in exchange for the award.

Restructuring. We recognize restructuring expenses as incurred. Asset impairment and accelerated depreciation expenses primarily relate to inventory write-downs for rationalized products and adjustments in the carrying value of the related facilities and machinery and equipment to their estimated fair value. In addition, the remaining useful lives of other property, plant, and equipment associated with the related operations are reevaluated based on the respective restructuring plan, which may result in the acceleration of depreciation and amortization of certain assets.

Recently Issued Accounting Standards Impacting the Company

Recently Issued Accounting Standards Impacting the Company are presented in the following table:



Standard	Date of Issuance	Description	Date of Adoption	Effect on the financial statements or other significant matters
Standards that have recently been adopted
ASU 2016-02, "Leases" (Topic 842)	February 2016	The standard requires lessees to record all leases, whether finance or operating, on the balance sheet. An asset will be recorded to represent the right to use the leased asset, and a liability will be recorded to represent the lease obligation. The standard is effective for annual periods beginning after December 15, 2018 and interim periods within that period. Early adoption is permitted.	First Quarter Fiscal 2020	We adopted this standard, and related amendments, effective April 1, 2019 using the modified retrospective transition method and have not restated prior periods. We elected to use the package of practical expedients permitted under the transition guidance, which allows the carry forward of historical lease classification of existing leases. We also elected the practical expedient related to land easements, allowing us to carry forward our accounting treatment for land easements on existing or expired agreements. We made an accounting policy election to not recognize lease assets or liabilities for leases with a term of 12 months or less and elected to not separate non-lease components from lease components to which they relate for all asset classes. We recorded lease right-of-use assets and lease liabilities for operating leases totaling $120,562. The adoption of the standard did not have a material impact to the Consolidated Statements of Income or Cash Flows. Additional information is disclosed in Note 10 under the heading "Leases".



ASU 2017-12 "Targeted Improvements to Accounting for Hedging Activities" (Topic 815)	August 2017	The standard provides targeted improvements to accounting for hedging activities by expanding an entity’s ability to hedge non-financial and financial risk components and reduce complexity in fair value hedges of interest rate risk. The guidance eliminates the requirement to separately measure and report hedge ineffectiveness and generally requires the entire change in the fair value of a hedging instrument to be presented in the same income statement line as the hedged item. The guidance also eases certain documentation and assessment requirements and modifies the accounting for components excluded from the assessment of hedge effectiveness. The standard is effective for fiscal years, and interim periods within those years, beginning after December 15, 2018. Early adoption is permitted in any interim period after issuance of the standard.	First Quarter Fiscal 2020	We adopted this standard effective April 1, 2019 with no material impact to our Consolidated Balance Sheets. The impact to our Consolidated Statements of Income will depend on the value of future hedging activities.
ASU 2018-02 "Income Statement - Reporting Comprehensive Income" (Topic 220)	February 2018	The standard allows a reclassification from accumulated other comprehensive income to retained earnings for stranded tax effects resulting from the Tax Cuts and Jobs Act ("TCJA") and requires certain disclosures about stranded tax effects. The underlying guidance requiring that the effect of a change in tax laws or rates be included in income from continuing operations is not affected. This standard is effective for fiscal years beginning after December 15, 2018 and interim periods within those years. Early adoption is permitted.	First Quarter Fiscal 2020	We have elected not to reclassify the income tax effects of the TCJA from Accumulated Other Comprehensive Income ("AOCI") to retained earnings. Our policy is to release income tax effects from AOCI when individual units of account are sold or terminated.


Standards that have not yet been adopted
ASU 2016-13, "Measurement of Credit Losses on Financial Instruments"	June 2016	The standard requires a financial asset (or group of financial assets) measured at amortized cost to be presented at the net amount expected to be collected. The allowance for credit losses is a valuation account that is deducted from the amortized cost basis of the financial asset(s) to present the net carrying value at the amount expected to be collected on the financial asset. Credit losses relating to available-for-sale debt securities should be recorded through an allowance for credit losses. The standard is effective for annual periods beginning after December 15, 2019. Early adoption is permitted.	N/A	We do not expect this standard to have a material impact on our consolidated financial statements.



ASU 2018-13 "Fair Value Measurement (Topic 820) Disclosure Framework- Changes to Disclosure Requirements for Fair Value Measurement”	August 2018	The standard modifies the disclosure requirements by adding, removing, and modifying certain required disclosures for fair value measurements for assets and liabilities disclosed within the fair value hierarchy. The standard is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2019 and early adoption is permitted.	N/A	We do not expect this standard to have a material impact on our consolidated financial statements as it modifies disclosure requirements only.
ASU 2018-14 "Compensation- Retirement Benefits - Defined Benefit Plans- General Topic (715-20): Disclosure Framework- Changes to the Disclosure Requirements for Defined Benefit Plans"	August 2018	The standard modifies the disclosure requirements by adding, removing, and modifying certain required disclosures for employers that sponsor defined benefit pension or other post-retirement benefit plans. The standard also clarifies disclosure requirements for defined benefit pension plans relating to the projected benefit obligation and accumulated benefit obligation. The standard is effective for fiscal years ending after December 15, 2019 and early adoption is permitted.	N/A	We do not expect this standard to have a material impact on our consolidated financial statements as it modifies disclosure requirements only.
ASU 2018-15 "Intangibles- Goodwill and Other- Internal Use Software (Subtopic 350-40): Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement that is a Service Contract"	August 2018	The standard aligns the requirements for capitalizing implementation costs incurred in a hosting arrangement that is a service contract with the requirements for capitalizing implementation costs incurred to develop or obtain internal-use software. The standard is effective for fiscal years beginning after December 15, 2019 and early adoption is permitted.	N/A	We do not expect this standard to have a material impact on our consolidated financial statements.
ASU 2019-12 "Income Taxes (Topic 740)"	December 2019	The standard provides final guidance that simplifies the accounting for income taxes by eliminating certain exceptions to the guidance in ASC 740 related to the approach for intra-period tax allocation, the methodology for calculating income taxes in an interim period and the recognition of deferred tax liabilities for outside basis differences. The guidance simplifies accounting for franchise taxes and enacted changes in tax laws or rates and clarifies the accounting for transactions that result in a step-up in the tax basis of goodwill. The standard is effective for fiscal years ending after December 15, 2020 and early adoption is permitted.	N/A	We are in the process of evaluating the impact that the standard will have on our consolidated financial statements.

Restructuring (Notes)

12 Months Ended

Mar. 31, 2020

Restructuring and Related Activities [Abstract]

Restructuring and Related Activities Disclosure [Text Block]

2. RESTRUCTURING

Fiscal 2019 Restructuring Plan. During the third quarter of fiscal 2019, we adopted and announced a targeted restructuring plan (the "Fiscal 2019 Restructuring Plan"), which included the closure of two manufacturing facilities, one in Brazil and one in England, as well as other actions including the rationalization of certain products. Fewer than 200 positions were eliminated. The Company has relocated the production of certain impacted products to other existing manufacturing operations during fiscal 2020. These restructuring actions were designed to enhance profitability and improve efficiency.

Since inception of the Fiscal 2019 Restructuring Plan we have incurred pre-tax expenses totaling $43,851 related to these restructuring actions, of which $31,660 was recorded as restructuring expenses and $12,191 was recorded in cost of revenues, with a total of $31,162, $2,518, $668, and $7,798 related to the Healthcare Products, Healthcare Specialty Services, Life Sciences, and Applied Sterilization Technologies segments, respectively. Corporate related restructuring charges were $1,705. Additional restructuring expenses related to this plan are not expected to be material to our results of operations.

The following table summarizes our total pre-tax restructuring expenses for fiscal 2020 and 2019:



Fiscal 2019 Restructuring Plan	Year Ended March 31, 2020			Year Ended March 31, 2019
Severance and other compensation related costs	$	1,554		$	5,651
Accelerated depreciation and amortization	—			16,194
(Gain) on disposal of asset	(1,164		)	—
Asset impairment	—			4,312
Lease termination costs and other	283			4,830
Product rationalization ⁽¹⁾	2,470			9,721
Total restructuring expenses	$	3,143		$	40,708

(1) Recorded in cost of revenues on the Consolidated Statements of Income.

Liabilities related to restructuring activities are recorded as current liabilities on the accompanying Consolidated Balance Sheets within “Accrued payroll and other related liabilities” and “Accrued expenses and other.” The following tables summarize our restructuring liability balances:



Fiscal 2019 Restructuring Plan	March 31, 2019		Provisions		Payments /Impairments (1)			March 31, 2020
Severance and termination benefits	$	4,102	$	1,554	$	(4,659	)	$	997
Lease termination obligations and other	2,029		283		(2,292		)	20
Total	$	6,131	$	1,837	$	(6,951	)	$	1,017

(1) Certain amounts reported include the impact of foreign currency movements relative to the U.S. dollar.



Fiscal 2019 Restructuring Plan	March 31, 2018			Provisions			Payments /Impairments (1)				March 31, 2019
Severance and termination benefits	$	—		$	5,651		$	(1,549	)		$	4,102
Lease termination obligations and other	—			4,830			(2,801		)		2,029
Total	$	—	—	$	10,481	—	$	(4,350	)	—	$	6,131

(1) Certain amounts reported include the impact of foreign currency movements relative to the U.S. dollar.

Business Acquisitions and Divestitures Business Acquisitions and Divestitures (Notes)

12 Months Ended

Mar. 31, 2020

Business Combinations and Divestitures [Abstract]

Business Combination Disclosure [Text Block]

18. BUSINESS ACQUISITIONS AND DIVESTITURES

Fiscal 2020 Acquisitions

During fiscal 2020, we completed several tuck-in acquisitions which continued to expand our product and service offerings in the Healthcare Products, Healthcare Specialty Services and Applied Sterilization Technologies segments. The aggregate purchase price associated with these transactions was approximately $120,537, net of cash acquired and including potential contingent consideration of $9,830 and deferred consideration of $893.

Fiscal 2019 Acquisitions

During fiscal 2019, we completed a minor purchase to expand our service offerings in the Applied Sterilization Technologies segment. The total purchase price was $13,313, and was financed with both cash on hand and with credit facility borrowings. Purchase price allocations will be finalized within a measurement period not to exceed one year from closing.

Fiscal 2018 Acquisitions

We completed several minor purchases that continued to expand our product and service offerings in the Healthcare Products, Healthcare Specialty Services and Applied Sterilization Technologies segments. The aggregate purchase price associated with these transactions was approximately $52,292, net of cash acquired and including contingent consideration of $5,018. The purchase price for the acquisitions was financed with both cash on hand and with credit facility borrowings.

Fair Value of Assets Acquired and Liabilities Assumed

The table below summarizes the allocation of the purchase price to the net assets acquired based on fair values at the acquisition dates for our fiscal 2020, 2019 and 2018 acquisitions.



	Fiscal Year 2020			Fiscal Year 2019			Fiscal Year 2018
(dollars in thousands)	All Acquisitions (1)			All Acquisitions			All Acquisitions
Cash	$	8,811		$	—		$	235
Accounts receivable	10,331			750			1,464
Inventory	8,999			51			2,289
Property, plant and equipment	9,241			2,004			3,381
Lease right-of-use assets, net	4,462			—			—
Other assets	1,133			479			126
Intangible assets	36,500			4,070			17,404
Goodwill	74,531			6,614			32,384
Total Assets	154,008			13,968			57,283
Current liabilities	(20,659		)	(146		)	(2,077		)
Non-current liabilities	(4,000		)	(509		)	(2,679		)
Total Liabilities	(24,659		)	(655		)	(4,756		)
Net Assets	$	129,349		$	13,313		$	52,527

⁽¹⁾Purchase price allocation is still preliminary as of March 31, 2020, as valuations have not been finalized.

Acquisition related transaction and integration costs totaled $8,225, $8,901, and $16,211 for the fiscal years ended March 31, 2020, 2019, and 2018, respectively. These costs are included in Selling, general, and administrative expenses in the Consolidated Statements of Income.

Divestitures

Fiscal 2020

During fiscal 2020, we sold the operations of our Healthcare Specialty Services business that were located in China. We recorded proceeds of $439, net of cash divested, and recognized a pre-tax loss on the sale of $2,365 in the selling, general and administrative expense line of the Consolidated Statements of Income. The business generated annual revenues of approximately $5,000.

Fiscal 2018

Synergy Health Healthcare Consumable Solutions

On November 20, 2017, we sold our Synergy Health Healthcare Consumable Solutions ("HCS") business to Vernacare. Annual revenues for the HCS business were approximately $40,000 and were included in the Healthcare Products segment. We recorded proceeds of $8,891, net of cash divested, including a working capital adjustment. We also recognized a pre-tax loss on the sale, subject to final working capital adjustments, of $12,972 in Selling, general, and administrative expense in the Consolidated Statement of Income.

Loans Receivable

In connection with an equity investment of $4,955, we agreed to provide a credit facility of up to approximately $10,000 for a term of up to seven years ending in 2025. The loan carries an interest rate of 4% compounded daily and interest is payable annually. Outstanding borrowings under the agreement totaled $7,084 at March 31, 2020 and $7,465 at March 31, 2019.

In connection with the fiscal 2017 divestiture of Synergy Health Netherlands Linen Management Services, we entered into a loan agreement to provide financing of up to €15,000 for a term of up to 15 years. The loan carried an interest rate of 4% for the first four years and 12% thereafter. The loan was renegotiated during the third quarter of fiscal 2020. According to the new terms of the loan agreement, the outstanding balance at October 31, 2019, of €7,300, will be repaid in six equal annual

installments beginning on October 18, 2022. The loan carries an interest rate of 4% for the first four years and 8% thereafter. Outstanding borrowings under the agreement totaled $8,072 (or €7,300) at March 31, 2020 and $8,494 (or €7,550) at March 31, 2019.

Amounts for loan receivables as noted above are recorded in the "Other assets" line of our Consolidated balance sheets. Interest income is not material.

Goodwill and Intangible Assets

12 Months Ended

Mar. 31, 2020

Goodwill and Intangible Assets Disclosure [Abstract]

3. GOODWILL AND INTANGIBLE ASSETS

Changes to the carrying amount of goodwill for the years ended March 31, 2020 and 2019 were as follows:



	Healthcare Products Segment			Healthcare Specialty Services Segment			Life Sciences Segment			Applied Sterilization Technologies Segment			Total
Balance at March 31, 2018	404,674			388,025			148,816			1,492,269			2,433,784
Goodwill acquired or allocated	(1,202		)	(907		)	—			5,341			3,232
Foreign currency translation adjustments	(6,188		)	(12,208		)	(1,021		)	(94,671		)	(114,088		)
Balance at March 31, 2019	$	397,284		$	374,910		$	147,795		$	1,402,939		$	2,322,928
Goodwill acquired or allocated	65,222			1,364			—			7,945			74,531
Divestitures	—			(199		)	—			—			(199		)
Foreign currency translation adjustments	(3,499		)	(7,816		)	762			(30,622		)	(41,175		)
Balance at March 31, 2020	$	459,007		$	368,259		$	148,557		$	1,380,262		$	2,356,085

See Note 18, titled "Business Acquisitions and Divestitures" for additional information regarding our recent business acquisitions and divestitures.

We evaluate the recoverability of recorded goodwill amounts annually during the third fiscal quarter, or when evidence of potential impairment exists. As a result of our annual impairment review of goodwill for fiscal years 2020, 2019 and 2018, no indicators of impairment were identified.

Information regarding our intangible assets is as follows:



	2020				2019
March 31,	Gross Carrying Amount		Accumulated Amortization		Gross Carrying Amount		Accumulated Amortization
Customer relationships	$	614,162	$	227,581	$	623,774	$	189,752
Non-compete agreements	4,646		4,012		4,693		3,945
Patents and technology	259,101		145,457		226,520		126,149
Trademarks and tradenames	62,543		39,942		63,570		38,850
Supplier relationships	54,800		12,787		54,800		10,047
Total	$	995,252	$	429,779	$	973,357	$	368,743

Certain trademarks and tradenames obtained as a result of business combinations are indefinite-lived assets. The approximate carrying value of these assets at March 31, 2020 and March 31, 2019 was $14,250 and $13,000, respectively. We evaluate our indefinite-lived intangible assets annually during the third quarter, or when evidence of potential impairment exists. No impairment was recognized for fiscal year 2020. During the third quarter of fiscal 2019, management adopted a branding strategy that included phasing out the usage of a tradename associated with certain products in the Healthcare Products business segment. As a result, management recorded an impairment charge of $16,249, which is included within the Selling, general, and administrative line of the Consolidated Statements of Income. The remaining fair value of the asset was calculated using an income approach (the relief from royalty method). The remaining fair value was not material and will be amortized over the asset's remaining useful life. Fair value calculated using this approach is classified within Level 3 of the fair value hierarchy and requires several assumptions.

Total amortization expense for intangible assets was $74,528, $98,747, and $70,195 for the years ended March 31, 2020, 2019, and 2018, respectively. Based upon the current amount of intangible assets subject to amortization, the amortization expense for each of the five succeeding fiscal years is estimated to be as follows:



	2021		2022		2023		2024		2025
Estimated amortization expense	$	71,049	$	68,393	$	62,808	$	56,549	$	54,772

The estimated annual amortization expense presented in the preceding table has been calculated based upon March 31, 2020 currency exchange rates.

Inventories, Net

12 Months Ended

Mar. 31, 2020

Inventories, Net

4. INVENTORIES, NET

Inventories, net consisted of the following:



March 31,	2020			2019
Raw materials	$	94,321		$	83,009
Work in process	35,643			30,694
Finished goods	151,381			131,051
LIFO reserve	(16,937		)	(16,757		)
Reserve for excess and obsolete inventory	(16,149		)	(19,754		)
Inventories, net	$	248,259		$	208,243

Property, Plant and Equipment

12 Months Ended

Mar. 31, 2020

Property, Plant and Equipment

Information related to the major categories of our depreciable assets is as follows:



March 31,	2020			2019
Land and land improvements ⁽¹⁾	$	65,994		$	63,522
Buildings and leasehold improvements	531,267			480,359
Machinery and equipment	682,488			656,956
Information systems	181,112			169,711
Radioisotope	508,593			483,080
Construction in progress ⁽¹⁾	159,731			133,689
Total property, plant, and equipment	2,129,185			1,987,317
Less: accumulated depreciation and depletion	(1,017,330		)	(955,735		)
Property, plant, and equipment, net	$	1,111,855		$	1,031,582

⁽¹⁾ Land is not depreciated. Construction in progress is not depreciated until placed in service.

Depreciation and depletion expense were $122,707, $127,174 and $108,137, for the years ended March 31, 2020, 2019, and 2018, respectively.

Asset Retirement Obligations

We provide contract sterilization services including Gamma irradiation which utilizes cobalt-60 in the form of cobalt pencils. We have incurred asset retirement obligations (ARO) associated with the future disposal of these assets once depleted. Recognition of ARO includes: the present value of a liability and offsetting asset, the subsequent accretion of that liability and depletion of the asset, and the periodic review of the ARO liability estimates and discount rates used in the analysis.

The following table summarizes the activity in the liability for asset retirement obligations.



	Asset Retirement Obligations
Balance at March 31, 2018	$	11,639
Liabilities incurred during the period	1,033
Accretion expense and change in estimate	385
Foreign currency and other	(671		)
Balance at March 31, 2019	$	12,386
Liabilities incurred during the period	94
Liabilities settled during the period	(168		)
Accretion expense and change in estimate	453
Foreign currency and other	(251		)
Balance at March 31, 2020	$	12,514

Debt

12 Months Ended

Mar. 31, 2020

Debt

6. DEBT

Indebtedness as of March 31, 2020 and 2019 was as follows:



	2020			2019
Credit Agreement	$	275,449		$	301,846
Private Placement	878,409			884,967
Deferred financing fees	(3,337		)	(3,619		)
Other	—			33
Total long term debt	$	1,150,521		$	1,183,227

On March 23, 2018, STERIS UK and certain of its subsidiaries entered into a Credit Agreement (the "Credit Agreement") with various financial institutions as lenders, and JPMorgan Chase Bank, N.A., as Administrative Agent. STERIS Ireland

subsequently became a borrower and guarantor under the Credit Agreement. The Credit Agreement replaced a bank credit facility dated March 31, 2015. The Credit Agreement provides up to $1,000,000 of credit, in the form of a revolver facility, which may be utilized for revolving credit borrowings, swing line borrowings and letters of credit, with sublimits for swing line borrowings and letters of credit. The revolver facility may be increased in specified circumstances by up to $500,000. The Credit Agreement will mature on March 23, 2023, and all unpaid borrowings, together with accrued and unpaid interest thereon, are repayable on that date. The Credit Agreement contains leverage and interest coverage covenants. Borrowings may be taken in U.S. dollars, euros, and pounds sterling and certain other specified currencies and bear interest at our option based upon either the Base Rate or the Eurocurrency Rate, plus the Applicable Margin in effect from time to time under the Credit Agreement. The Applicable Margin is determined based on the ratio of Consolidated Total Debt to Consolidated EBITDA (as such terms are defined in the Credit Agreement). Interest on Base Rate Advances is payable quarterly in arrears and interest on Eurocurrency Rate Advances is payable at the end of the relevant interest period therefor, but in no event less frequently than every three months. Borrowings at closing were used to repay outstanding balances of debt outstanding under the former bank credit facility dated March 31, 2015 that was scheduled to mature on March 31, 2020 and for other general corporate purposes. The Credit Agreement was amended in March 2019, in connection with the Redomiciliation to permit the Redomiciliation. The amendments did not effect any material changes in the terms of the Credit Agreement regarding borrowings or the issuance of letters of credit.

As of March 31, 2020 a total of $275,449 of Credit Agreement and Swing Line Facility borrowings were outstanding under the Credit Agreement, based on currency exchange rates as of March 31, 2020.

Our outstanding Senior Notes at March 31, 2020 and 2019 were as follows:



	Applicable Note Purchase Agreement	Maturity Date	U.S. Dollar Value at March 31, 2020		U.S. Dollar Value at March 31, 2019
$35,000 Senior notes at 6.43%	2008 Private Placement	August 2020	35,000		35,000
$91,000 Senior notes at 3.20%	2012 Private Placement	December 2022	91,000		91,000
$80,000 Senior notes at 3.35%	2012 Private Placement	December 2024	80,000		80,000
$25,000 Senior notes at 3.55%	2012 Private Placement	December 2027	25,000		25,000
$125,000 Senior notes at 3.45%	2015 Private Placement	May 2025	125,000		125,000
$125,000 Senior notes at 3.55%	2015 Private Placement	May 2027	125,000		125,000
$100,000 Senior notes at 3.70%	2015 Private Placement	May 2030	100,000		100,000
$50,000 Senior notes at 3.93%	2017 Private Placement	February 2027	50,000		50,000
€60,000 Senior notes at 1.86%	2017 Private Placement	February 2027	66,342		67,352
$45,000 Senior notes at 4.03%	2017 Private Placement	February 2029	45,000		45,000
€20,000 Senior notes at 2.04%	2017 Private Placement	February 2029	22,114		22,450
£45,000 Senior notes at 3.04%	2017 Private Placement	February 2029	55,767		58,702
€19,000 Senior notes at 2.30%	2017 Private Placement	February 2032	21,008		21,328
£30,000 Senior notes at 3.17%	2017 Private Placement	February 2032	37,178		39,135
Total Senior Notes			$	878,409	$	884,967

On February 27, 2017, STERIS UK issued and sold an aggregate principal amount of $95,000, €99,000, and £75,000, of senior notes in a private placement to certain institutional investors in an offering that was exempt from the registration requirements of the Securities Act of 1933. These notes have maturities of between 10 years and 15 years from the issue date. The agreement governing these notes contains leverage and interest coverage covenants.

On May 15, 2015, STERIS Corporation issued and sold $350,000 of senior notes, in a private placement to certain institutional investors in an offering that was exempt from the registration requirements of the Securities Act of 1933. These notes have maturities of 10 years to 15 years from the issue date. The agreement governing these notes contains leverage and interest coverage covenants.

The agreements governing certain senior notes issued and sold in February 2013, December 2012, and August 2008, were amended and restated in their entirety on March 31, 2015. All of these notes were issued and sold in private placements to

certain institutional investors in offerings that were exempt from the registration requirements of the Securities Act of 1933. The amended and restated agreements, which have been consolidated into a single agreement for the 2013 and 2012 notes, and a separate single agreement for the 2008 notes, contain leverage and interest coverage covenants.

All of the note agreements were amended in March 2019, in connection with the Redomiciliation. The amendments waived certain repurchase rights of the note holders and increased the size of certain baskets to more closely align with Credit Agreement baskets.

At March 31, 2020, we were in compliance with all financial covenants associated with our indebtedness.

The combined annual aggregate amount of maturities of our outstanding debt by fiscal year is as follows:



2021⁽¹⁾	$	35,000
2022	—
2023	366,449
2024	—
2025 and thereafter	752,409
Total	$	1,153,858

⁽¹⁾ This amount represents a senior note that matures in August 2020. In accordance with ASU 470-10-45, we have presented the note as a long-term liability based on our intention to refinance the note on a long-term basis under our credit facility.

Additional Consolidated Balance Sheets Information

12 Months Ended

Mar. 31, 2020

Additional Consolidated Balance Sheets Information

7. ADDITIONAL CONSOLIDATED BALANCE SHEET INFORMATION

Additional information related to our Consolidated Balance Sheet is as follows:



March 31,	2020		2019
Accrued payroll and other related liabilities:
Compensation and related items	$	42,205	$	37,251
Accrued vacation/paid time off	9,917		10,191
Accrued bonuses	53,041		40,194
Accrued employee commissions	19,298		17,854
Other post-retirement benefits obligations-current portion	1,488		1,633
Other employee benefit plans' obligations-current portion	2,312		1,935
Total accrued payroll and other related liabilities	$	128,261	$	109,058
Accrued expenses and other:
Deferred revenues	$	53,299	$	55,333
Service liabilities	47,505		42,101
Self-insured and related risk reserves-current portion	7,342		6,537
Accrued dealer commissions	15,827		15,283
Accrued warranty	7,381		7,194
Asset retirement obligation-current portion	2,671		2,656
Other	58,158		58,661
Total accrued expenses and other	$	192,183	$	187,765
Other liabilities:
Self-insured risk reserves-long-term portion	$	17,452	$	14,445
Other post-retirement benefits obligations-long-term portion	9,880		10,918
Defined benefit pension plans obligations-long-term portion	10,987		16,168
Other employee benefit plans obligations-long-term portion	2,333		4,711
Accrued long-term income taxes	11,959		13,515
Asset retirement obligation-long-term portion	9,843		9,730
Contingent consideration obligations- long term portion	15,358		5,950
Other	12,534		12,375
Total other liabilities	$	90,346	$	87,812

Income Tax Expense

12 Months Ended

Mar. 31, 2020

Income Tax Expense [Abstract]

Income Tax Expense (Benefit)

8. INCOME TAXES

The Tax Cuts and Jobs Act (the “TCJA”) was enacted on December 22, 2017. The TCJA reduced the maximum U.S. federal corporate income tax rate to 21.0%, required companies to pay a one-time transition tax on earnings of certain foreign subsidiaries that were previously tax deferred and created new taxes on certain foreign sourced earnings. The Company applied the guidance in Staff Accounting Bulletin No. 118, Income Tax Accounting Implications of the Tax Cut and Jobs Act when accounting for the enactment-date effects of the TCJA.

We consider the tax expense recorded for the TCJA to be complete at this time. However, it is possible that additional legislation, regulations, interpretations and/or guidance may be issued in the future that may result in additional adjustments to the tax expense recorded related to the TCJA. We have continued to monitor these as they are published. While none have resulted in material adverse impacts through fiscal 2020, there are certain items, which were not yet considered law as of March 31, 2020, that if finalized as proposed, could result in an adverse impact on our consolidated financial statements. Specifically, full retroactive application to April 1, 2019 of certain of the regulations relating to §267A, would require recognition of income tax expense up to $15,000 related to the period April 1, 2019 through December 4, 2019 when we restructured certain of our intercompany financing arrangements. This potential impact contains significant uncertainty and

could be impacted by various factors, including any differences between the proposed and finalized regulations, issued in April 2020, and their retroactive application.

Income from continuing operations before income taxes was as follows:



Years Ended March 31,	2020		2019		2018
United States operations	$	325,522	$	235,405	$	203,872
Ireland operations	29,543		13,693		11,837
Other locations operations	143,616		120,372		139,273
	$	498,681	$	369,470	$	354,982

The components of the provision for income taxes related to income from continuing operations consisted of the following:



Years Ended March 31,	2020			2019			2018
Current:
United States federal	$	42,032		$	29,943		$	47,728
United States state and local	9,971			12,484			7,727
Ireland	5,036			2,627			2,596
Other locations	24,600			26,824			26,742
	81,639			71,878			84,793
Deferred:
United States federal	10,073			5,775			(15,728		)
United States state and local	2,363			2,836			2,656
Ireland	(899		)	(546		)	(280		)
Other locations	(2,300		)	(15,549		)	(8,081		)
	9,237			(7,484		)	(21,433		)
Total Provision for Income Taxes	$	90,876		$	64,394		$	63,360

The total provision for income taxes can be reconciled to the tax computed at the Ireland statutory tax rate for 2020 and 2019, and the United Kingdom statutory rate for 2018 as follows:



Years Ended March 31,	2020		2019		2018
National statutory tax rate	12.5	%	12.5	%	19.0	%
Increase (decrease) in accruals for uncertain tax positions	(0.3	)%	—	%	0.1	%
U.S. state and local taxes, net of federal income tax benefit	2.0	%	3.1	%	2.3	%
Increase in valuation allowances	0.5	%	0.4	%	0.1	%
U.S. research and development credit	(0.5	)%	(0.6	)%	(0.5	)%
U.S. foreign income tax credit	(0.6	)%	(0.2	)%	(0.2	)%
Difference in non-Ireland tax rates	6.9	%	4.5	%	—	%
Difference in non-United Kingdom tax rates	—	%	—	%	4.1	%
U.S. manufacturing deduction	—	%	—	%	(0.8	)%
Excess tax benefit for equity compensation	(2.8	)%	(2.2	)%	(1.8	)%
Tax rate changes on deferred tax assets and liabilities	0.1	%	(0.6	)%	(10.3	)%
U.S. transition tax on foreign earnings	—	%	(0.3	)%	4.9	%
U.S. tax reform impact, GILTI and FDII	0.1	%	0.3	%	—	%
Acquisitions and divestitures	—	%	—	%	0.5	%
Capitalized acquisition, redomiciliation costs	0.1	%	0.5	%	—	%
All other, net	0.2	%	—	%	0.4	%
Total Provision for Income Taxes	18.2	%	17.4	%	17.8	%

Unrecognized Tax Benefits. We classify uncertain tax positions and related interest and penalties as long-term liabilities within “Other liabilities” in our accompanying Consolidated Balance Sheets, unless they are expected to be paid within 12 months, in which case, the uncertain tax positions would be classified as current liabilities within “Accrued income taxes.” We recognize interest and penalties related to unrecognized tax benefits within “Income tax expense” in our accompanying Consolidated Statements of Income.

A reconciliation of the beginning and ending balances of the total amounts of unrecognized tax benefits is as follows:



	2020			2019
Unrecognized Tax Benefits Balance at April 1	$	2,314		$	2,500
Increases for tax provisions of current year	176			178
Decreases for tax provisions of prior year	(1,570		)	(186		)
Other, including currency translation	(45		)	(178		)
Unrecognized Tax Benefits Balance at March 31	$	875		$	2,314

We recognized interest and penalties related to uncertain tax positions in the provision for income taxes. As of March 31, 2020, and 2019 we had $243 and $360 accrued for interest and penalties, respectively. If all unrecognized tax benefits were recognized, the net impact on the provision for income tax expense would be $1,118. The decrease in unrecognized tax benefits from prior year is due to the release of expired positions. It is reasonably possible that during the next 12 months, there will be no material reductions in unrecognized tax benefits as a result of the expiration of various statutes of limitations or other matters.

We operate in numerous taxing jurisdictions and are subject to regular examinations by various United States federal, state and local, as well as foreign jurisdictions. We are no longer subject to United States federal examinations for years before fiscal 2016 and, with limited exceptions, we are no longer subject to United States state and local, or non-United States, income tax examinations by tax authorities for years before fiscal 2015. We remain subject to tax authority audits in various jurisdictions wherever we do business.

In May 2019, we received two notices of proposed tax adjustment from the U.S. Internal Revenue Service (the “IRS”) regarding the deductibility of interest paid on certain intercompany debt. The notices relate to fiscal years 2016 and 2017. In September 2019, we received another notice of proposed adjustment for the same issue, for the 2018 fiscal year. The IRS adjustments would result in a cumulative tax liability of approximately $40,000. Notices have not been received for subsequent periods. We are contesting the IRS’s assertions, and intend to pursue available remedies such as appeals and litigation, if necessary. We have not established reserves related to these notices. An unfavorable outcome is not expected to have a material adverse impact on our consolidated financial position but could be material to our consolidated results of operations and cash flows for any one period.

We estimate that the tax benefit from our Costa Rican Tax Holiday is $1,900 (or $0.02 per fully diluted share), annually. The Tax Holiday runs fully exempt, from income tax, through 2025 and partially exempt through 2029.

Deferred Taxes. The significant components of the deferred tax assets and liabilities recorded in our accompanying balance sheets at March 31, 2020 and 2019 were as follows:



March 31,	2020			2019
Deferred Tax Assets:
Post-retirement benefit accrual	$	2,871		$	3,142
Compensation	12,560			14,275
Net operating loss carryforwards	16,149			19,195
Accrued expenses	5,490			4,858
Insurance	3,620			3,187
Deferred income	11,316			7,509
Bad debt	1,820			1,386
Pension	2,273			3,364
Operating leases ⁽¹⁾	28,945			—
Other	6,024			7,707
Deferred Tax Assets	91,068			64,623
Less: Valuation allowance	13,891			13,478
Total Deferred Tax Assets	77,177			51,145
Deferred Tax Liabilities:
Depreciation and depletion	68,179			61,060
Operating leases ⁽¹⁾	29,268			—
Intangibles	129,951			128,479
Other	2,078			2,197
Total Deferred Tax Liabilities	229,476			191,736
Net Deferred Tax Assets (Liabilities)	$	(152,299	)	$	(140,591	)

(1) For more information regarding our operating leases, see Note 10 titled, "Commitments and Contingencies".

At March 31, 2020, we had U.S. federal operating loss carryforwards of $10,942, which remain subject to a 20 year carryforward period. Additionally, we had non-U.S. operating loss carry forwards of $41,450. Although the majority of the non-U.S. carryforwards have indefinite expiration periods, those carryforwards that have definite expiration periods will expire if unused between fiscal years 2021 and 2041. In addition, we have recorded pre-valuation allowance tax benefits of $2,042 related to state operating loss carryforwards. If unused, these state operating loss carryforwards will expire between fiscal years 2021 and 2040. At March 31, 2020, we had $2,547 of tax credit carryforwards. These credit carryforwards can be used through fiscal 2030.

We review the need for a valuation allowance against our deferred tax assets. A valuation allowance of $13,891 has been applied to a portion of the net deferred tax assets because we do not believe it is more-likely-than-not that we will receive future benefit. The valuation allowance increased during fiscal 2020 by $413.

Other than the tax expense recorded for the one-time transition tax on unremitted earnings of non-US subsidiaries, no additional provision has been made for income taxes on undistributed earnings of foreign subsidiaries as the Company’s position is that these amounts continue to be indefinitely reinvested. The amount of undistributed earnings of subsidiaries was approximately $1,600,000 at March 31, 2020. It is not practicable to estimate the additional income taxes and applicable withholding taxes that would be payable on the remittance of such undistributed earnings.

In October 2015, the Organization for Economic Cooperation and Development (OECD), in conjunction with the G20, finalized broad-based international tax policy guidelines that involve transfer pricing and other international tax subjects. While some member jurisdictions automatically adopt the new OECD guidelines, most member countries can adopt the guidelines only by new law or regulations. We are currently adopting processes to comply with the reporting requirements specified by the guidelines and are evaluating the other parts of the guidelines.

Benefit Plans

12 Months Ended

Mar. 31, 2020

Commitments and Contingencies Disclosure [Abstract]

Benefit Plans

9. BENEFIT PLANS

In the United States, we sponsor an unfunded post-retirement welfare benefits plan for two groups of United States retirees. Benefits under this plan include retiree life insurance and retiree medical insurance, including prescription drug coverage.

During the second quarter of fiscal 2009, we amended our United States post-retirement welfare benefits plan, reducing the benefits to be provided to retirees under the plan and increasing their share of the costs. The amendments resulted in a decrease of $46,001 in the accumulated post-retirement benefit obligation. The impact of this change was recognized in our Consolidated Balance Sheets in fiscal 2009 and is being amortized as a component of the annual net periodic benefit cost over a period of approximately thirteen years.

We sponsor several defined benefit pension schemes outside the United States: two in the UK, one in the Netherlands, two in Germany, and one in Switzerland. The Synergy Health plc Retirement Benefit Scheme is a defined benefit (final salary) funded pension scheme. In previous years, Synergy sponsored a funded defined benefit arrangement in the Netherlands. This was a separate fund holding the pension scheme assets to meet long-term pension liabilities for past and present employees. Accrual of benefits ceased under the scheme effective January 1, 2013. The Synergy Radeberg and Synergy Allershausen Schemes are unfunded defined pension schemes and are closed to new entrants. The Synergy Daniken Scheme is a defined benefit funded pension scheme. As a result of our fiscal 2018 acquisition of Harwell Dosimeters Ltd, we also sponsor in the Harwell Dosimeters Ltd Retirement Benefits Scheme which is a defined benefit funded pension scheme.

We recognize the funded status of our defined benefit pension and post-retirement benefit plans in our Consolidated Balance Sheets, with a corresponding adjustment to accumulated other comprehensive income, net of tax. The funded status is measured as of March 31 each year and is calculated as the difference between the fair value of plan assets and the benefit obligation (which is the projected benefit obligation for pension plans and the accumulated post-retirement benefit obligation for post-retirement benefit plans). Accumulated comprehensive income (loss) represents the net unrecognized actuarial losses and unrecognized prior service cost. These amounts will be recognized in net periodic benefit cost as they are amortized. We will recognize future changes to the funded status of these plans in the year the change occurs, through other comprehensive income.

Obligations and Funded Status. The following table reconciles the funded status of the defined benefit pension plans and the other post-retirement benefits plan to the amounts recorded on our Consolidated Balance Sheets at March 31, 2020 and 2019, respectively. Benefit obligation balances presented in the following table reflect the projected benefit obligations for our defined benefit pension plans and the accumulated other post-retirement benefit obligation for our post-retirement benefits plan. The measurement date of our defined benefit pension plans and other post-retirement benefits plan is March 31, for both periods presented.



	Other Defined Benefit Pension Plans						Other Post-Retirement Benefits Plan
	2020			2019			2020			2019
Change in Benefit Obligations:
Benefit Obligations at Beginning of Year	$	133,672		$	148,848		$	12,551		$	14,100
Service cost	1,380			2,394			—			—
Prior service cost	—			831			—			—
Interest cost	2,955			3,255			408			457
Actuarial loss (gain)	(3,736		)	(4,402		)	181			(106		)
Benefits and expenses	(6,466		)	(6,150		)	(1,772		)	(1,900		)
Employee contributions	1,046			743			—			—
Impact of foreign currency exchange rate changes	(5,661		)	(11,847		)	—			—
Benefit Obligations at End of Year	123,190			133,672			11,368			12,551
Change in Plan Assets:
Fair Value of Plan Assets at Beginning of Year	117,504			119,441			—			—
Actual return on plan assets	228			6,543			—			—
Employer contributions	5,071			5,005			1,772			1,900
Employee contributions	1,045			742			—			—
Benefits and expenses paid	(6,466		)	(6,150		)	(1,772		)	(1,900		)
Impact of foreign currency exchange rate changes	(5,179		)	(8,077		)	—			—
Fair Value of Plan Assets at End of Year	112,203			117,504			—			—
Funded Status of the Plans	$	(10,987	)	$	(16,168	)	$	(11,368	)	$	(12,551	)

Amounts recognized in the consolidated balance sheets consist of the following:



	Other Defined Benefit Pension Plans						Other Post-Retirement Benefits Plan
	2020			2019			2020			2019
Current liabilities	$	—		$	—		$	(1,488	)	$	(1,633	)
Noncurrent liabilities	(10,987		)	(16,168		)	(9,880		)	(10,918		)
	$	(10,987	)	$	(16,168	)	$	(11,368	)	$	(12,551	)

The pre-tax amount of unrecognized actuarial net loss and unamortized prior service cost included in accumulated other comprehensive (loss) income at March 31, 2020, was approximately $14,405 and $7,463, respectively. During fiscal 2021, we will amortize the following pre-tax amounts from accumulated other comprehensive income:



	Defined Benefit Pension Plans		Other Post-Retirement Benefits Plan
Actuarial loss	$	20	$	482
Prior Service Cost	69		(3,263		)

Defined benefit plans with an accumulated benefit obligation and projected benefit obligation exceeding the fair value of plan assets had the following plan assets and obligations at March 31, 2020 and 2019:



	Other Defined Benefit Pension Plans
	2020		2019
Aggregate fair value of plan assets	$	112,203	$	117,504
Aggregate accumulated benefit obligations	120,084		130,669
Aggregate projected benefit obligations	123,190		132,672

Components of Net Periodic Benefit Cost and Other Amounts Recognized in Other Comprehensive Income. Components of the annual net periodic benefit cost of our defined benefit pension plans and our other post-retirement benefits plan were as follows:



	Other Defined Benefit Pension Plans									Other Post-Retirement Benefits Plan
	2020			2019			2018			2020			2019			2018
Service cost	$	1,380		$	2,394		$	2,402		$	—		$	—		$	—
Interest cost	2,876			3,139			3,262			409			457			519
Expected return on plan assets	(4,735		)	(4,930		)	(4,835		)	—			—			—
Prior service cost recognition	69			51			—			(3,263		)	(3,263		)	(3,263		)
Net amortization and deferral	9			474			126			482			552			648
Net periodic benefit (credit) cost	$	(401	)	$	1,128		$	955		$	(2,372	)	$	(2,254	)	$	(2,096	)
Recognized in other comprehensive loss (income) before tax:
Net loss (gain) occurring during year	$	890		$	(6,545	)	$	(697	)	$	(181	)	$	106		$	501
Amortization of prior service credit	(78		)	781			—			3,263			3,263			3,263
Amortization of net loss	—			(468		)	(126		)	(482		)	(552		)	(648		)
Total recognized in other comprehensive loss (income)	812			(6,232		)	(823		)	2,600			2,817			3,116
Total recognized in total benefits cost and other comprehensive loss (income)	$	411		$	(5,104	)	$	132		$	228		$	563		$	1,020

Assumptions Used in Calculating Benefit Obligations and Net Periodic Benefit Cost. The following table presents significant assumptions used to determine the projected benefit obligations at March 31:



	2020		2019
Discount Rate:
Synergy Health plc Retirement Benefits Scheme	2.40	%	2.50	%
Isotron BV Pension Plan	1.60	%	1.20	%
Synergy Health Daniken AG	0.20	%	0.85	%
Synergy Health Radeberg	1.60	%	1.60	%
Synergy Health Allershausen	0.50	%	1.60	%
Harwell Dosimeters Ltd Retirement Benefits Scheme	2.45	%	2.35	%
Other post-retirement plan	3.00	%	3.50	%

The following table presents significant assumptions used to determine the net periodic benefit costs for the years ended March 31:



	2020		2019		2018
Discount Rate:
Synergy Health plc Retirement Benefits Scheme	2.50	%	2.50	%	2.60	%
Isotron BV Pension Plan	1.20	%	1.60	%	1.60	%
Synergy Health Daniken AG	0.20	%	0.95	%	0.65	%
Synergy Health Radeberg	1.60	%	1.60	%	1.50	%
Synergy Health Allershausen	1.75	%	1.60	%	1.50	%
Harwell Dosimeters Ltd Retirement Benefits Scheme	2.45	%	2.55	%	2.55	%
Other post-retirement plan	3.50	%	3.50	%	3.50	%
Expected Return on Plan Assets:
Synergy Health plc Retirement Benefits Scheme	4.80	%	5.02	%	4.97	%
Isotron BV Pension Plan	1.20	%	1.60	%	1.60	%
Synergy Health Daniken AG	0.65	%	1.20	%	1.40	%

The net periodic benefit cost and the actuarial present value of projected benefit obligations are based upon assumptions that we review on an annual basis. These assumptions may be revised annually based upon an evaluation of long-term trends, as well as market conditions that may have an impact on the cost of providing benefits.

We develop our expected long-term rate of return on plan assets assumptions by evaluating input from third-party professional advisers, taking into consideration the asset allocation of the portfolios and the long-term asset class return expectations.

We develop our discount rate assumptions by evaluating input from third-party professional advisers, taking into consideration the current yield on country specific investment grade long-term bonds which provide for similar cash flow streams as our projected obligations.

We have made assumptions regarding healthcare costs in computing our other post-retirement benefit obligation. The assumed rates of increase generally decline ratably over a five-year period from the assumed current year healthcare cost trend rate to the assumed long-term healthcare cost trend rate noted below.



	2020		2019		2018
Healthcare cost trend rate – medical	6.75	%	6.75	%	7.00	%
Healthcare cost trend rate – prescription drug	6.75	%	6.75	%	7.00	%
Long-term healthcare cost trend rate	4.50	%	4.50	%	4.50	%

To determine the healthcare cost trend rates, we evaluate a combination of information, including ongoing claims cost monitoring, annual statistical analyses of claims data, reconciliation of forecasted claims against actual claims, review of trend

assumptions of other plan sponsors and national health trends, and adjustments for plan design changes, workforce changes, and changes in plan participant behavior.

A one-percentage-point change in assumed healthcare cost trend rates (including medical, prescription drug, and long-term rates) would have had the following effect on our other post-retirement benefit obligation at March 31, 2020:



	One-Percentage Point
	Increase		Decrease
Effect on total service and interest cost components	$	—	$	—
Effect on other post-retirement benefit obligation	7		(6		)

Plan Assets. The investment policies for our plans are generally established by the local pension plan trustees and seek to maintain the plans' ability to meet liabilities and to comply with local minimum funding requirements. Plan assets are invested in diversified portfolios that provide adequate levels of return at an acceptable level of risk. The investment policies are reviewed at least annually and revised, as deemed appropriate to ensure that the objectives are being met. At March 31, 2020, the targeted allocation for the plans were approximately 75% equity investments and 25% fixed income investments.

Financial instruments included in pension plan assets are categorized into three tiers. These tiers include a fair value hierarchy of three levels, based on the degree of subjectivity inherent in the valuation methodology as follows:

Level 1 - Quoted prices for identical assets in active markets.

Level 2 - Quoted prices for similar assets in active markets with inputs that are observable, either directly or indirectly.

Level 3 - Unobservable prices or inputs in which little or no market data exists.

The fair value of our pension benefits plan assets at March 31, 2020 and 2019 by asset category is as follows:



	Fair Value Measurements at March 31, 2020
(In thousands)	Total		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Other Unobservable Inputs (Level 3)
Cash	$	302	$	302	$	—	$	—
Insured annuities	14,522		—		14,522		—
Insurance contracts	4,345		—		—		4,345
Common and collective trusts valued at net asset value:
Equity security trusts	47,187		—		—		—
Debt security trusts	45,847		—		—		—
Total Plan Assets	$	112,203	$	302	$	14,522	$	4,345



	Fair Value Measurements at March 31, 2019
(In thousands)	Total		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Other Unobservable Inputs (Level 3)
Cash	$	450	$	450	$	—	$	—
Insured annuities	14,720		—		14,720		—
Insurance contracts	5,089		—		—		5,089
Common and collective trusts valued at net asset value:
Equity security trusts	73,532		—		—		—
Debt security trusts	23,713		—		—		—
Total Plan Assets	$	117,504	$	450	$	14,720	$	5,089

Collective investment trusts are measured at fair value using the net asset value per share practical expedient. These trusts have not been categorized in the fair value hierarchy and are being presented in the tables above to permit a reconciliation of the fair value hierarchy to the total plan assets.

The fair value measurement of plan assets using significant unobservable inputs (Level 3) changed during fiscal year 2020 due to the following:



	Insurance contracts
Balance at March 31, 2018	$	5,484
Gains (losses) related to assets still held at year-end	29
Transfers out of Level 3	(132		)
Foreign currency	(292		)
Balance at March 31, 2019	$	5,089
Gains (losses) related to assets still held at year-end	62
Transfers out of Level 3	(664		)
Foreign currency	(142		)
Balance at March 31, 2020	$	4,345

Cash Flows. We contribute amounts to our defined benefit pension plans at least equal to the minimum amounts required by applicable employee benefit laws and local tax laws. We expect to make contributions of approximately $3,839 during fiscal 2021.

Based upon the actuarial assumptions utilized to develop our benefit obligations at March 31, 2020, the following benefit payments are expected to be made to plan participants:



	Other Defined Benefit Pension Plans		Other Post-Retirement Benefits Plan
2021	$	5,872	$	1,510
2022	6,025		1,392
2023	6,600		1,252
2024	6,336		1,115
2025	6,518		1,007
2026-2031	35,292		3,726

The Medicare Prescription Drug, Improvement and Modernization Act of 2003 (the “Act”) provides a prescription drug benefit for Medicare beneficiaries, a benefit we provide to Medicare eligible retirees covered by our post-retirement benefits plan. We have concluded that the prescription drug benefit provided in our post-retirement benefit plan is considered to be actuarially equivalent to the benefit provided under the Act and thus qualifies for the subsidy under the Act. Benefits are subject to a per capita per month cost cap and any costs above the cap become the responsibility of the retiree. Under the plan, the subsidy is applied to reduce the retiree responsibility. As a result, the expected future subsidy no longer reduces our accumulated post-retirement benefit obligation and net periodic benefit cost. We collected subsidies totaling approximately $708 and $706, during fiscal 2020 and fiscal 2019, respectively, which reduced the retiree responsibility for costs in excess of the caps established in the post-retirement benefit plan.

Defined Contribution Plans. We maintain a 401(k) defined contribution plan for eligible U.S. employees, a 401(k) defined contribution plan for eligible Puerto Rico employees and similar savings plans for certain employees in Canada, United Kingdom, Ireland, and Finland. We provide a match on a specified portion of an employee’s contribution. The U.S. plan assets are held in trust and invested as directed by the plan participants. The Canadian plan assets are held by insurance companies. The aggregate fair value of the U.S. plan assets was $668,960 at March 31, 2020. At March 31, 2020, the U.S. plan held 555,080 STERIS ordinary shares with a fair value of $77,695. We paid dividends of $855, $826, and $781 to the plan and participants on STERIS shares held by the plan for the years ended March 31, 2020, 2019, and 2018, respectively. We contributed approximately $27,818, $25,935, and $24,037, to the defined contribution plans for the years ended March 31, 2020, 2019, and 2018, respectively.

We also maintain a domestic non-qualified deferred compensation plan covering certain employees, which formerly allowed for the deferral of compensation for an employee-specified term or until retirement or termination. There have been no employee contributions made to this plan since fiscal 2012. The Plan was amended in fiscal 2012 to disallow deferrals of salary payable in 2012 and subsequent calendar years and of commissions and other incentive compensation payable in respect of the 2013 and subsequent fiscal years. We hold investments in mutual funds to satisfy future obligations of the plan. We account for these assets as available-for-sale securities and they are included in “Other assets” on our accompanying Consolidated Balance Sheets, with a corresponding liability for the plan’s obligation recorded in “Accrued expenses and other.” The aggregate value of the assets was $1,273 and $1,400 at March 31, 2020 and March 31, 2019, respectively. Realized gains and losses on these investments are recorded in “Interest and miscellaneous income” within “Non-operating expenses” on our accompanying Consolidated Statements of Income. Changes in the fair value of the assets are recorded in other comprehensive income on our accompanying balance sheets.

Contingencies

12 Months Ended

Mar. 31, 2020

Schedule of Loss Contingencies by Contingency [Text Block]

10. COMMITMENTS AND CONTINGENCIES

We are, and will likely continue to be, involved in a number of legal proceedings, government investigations, and claims, which we believe generally arise in the course of our business, given our size, history, complexity, and the nature of our business, products, Customers, regulatory environment, and industries in which we participate. These legal proceedings, investigations and claims generally involve a variety of legal theories and allegations, including, without limitation, personal injury (e.g., slip and falls, burns, vehicle accidents), product liability or regulation (e.g., based on product operation or claimed malfunction, failure to warn, failure to meet specification, or failure to comply with regulatory requirements), product exposure (e.g., claimed exposure to chemicals, asbestos, contaminants, radiation), property damage (e.g., claimed damage due to leaking equipment, fire, vehicles, chemicals), commercial claims (e.g., breach of contract, economic loss, warranty, misrepresentation), financial (e.g., taxes, reporting), employment (e.g., wrongful termination, discrimination, benefits matters), and other claims for damage and relief.

We believe we have adequately reserved for our current litigation and claims that are probable and estimable, and further believe that the ultimate outcome of these pending lawsuits and claims will not have a material adverse effect on our consolidated financial position or results of operations taken as a whole. Due to their inherent uncertainty, however, there can be no assurance of the ultimate outcome or effect of current or future litigation, investigations, claims or other proceedings (including without limitation the matters discussed below). For certain types of claims, we presently maintain insurance coverage for personal injury and property damage and other liability coverages in amounts and with deductibles that we believe are prudent, but there can be no assurance that these coverages will be applicable or adequate to cover adverse outcomes of claims or legal proceedings against us.

On May 31, 2012, our Albert Browne Limited subsidiary received a warning letter from the FDA regarding chemical indicators manufactured in the United Kingdom. These devices are intended for the monitoring of certain sterilization and other processes. The FDA warning letter stated that the agency had concerns regarding operational business processes. In the second half of calendar 2019, the FDA conducted a comprehensive inspection of the Albert Browne facility in question. In a May 12, 2020 email, the FDA provided the Company with a copy of the Inspection Report. In that same email the FDA advised the Company that the email would serve as a "No Action Indicated" notice and that it was finalizing a Warning Letter Closeout to be provided to the Company. These actions bring this matter to a favorable conclusion for the Company.

Civil, criminal, regulatory or other proceedings involving our products or services could possibly result in judgments, settlements or administrative or judicial decrees requiring us, among other actions, to pay damages or fines or effect recalls, or be subject to other governmental, Customer or other third party claims or remedies, which could materially effect our business, performance, prospects, value, financial condition, and results of operations.

For additional information regarding these matters, see the risks and uncertainties described under the title "product related regulations and claims" in Item 1A. of this Annual Report on Form 10-K.

From time to time, STERIS is also involved in legal proceedings as a plaintiff involving contract, patent protection, and other claims asserted by us. Gains, if any, from these proceedings are recognized when they are realized.

We are subject to taxation from United States federal, state and local, and foreign jurisdictions. Tax positions are settled primarily through the completion of audits within each individual jurisdiction or the closing of statutes of limitation. Changes in applicable tax law or other events may also require us to revise past estimates. We describe income taxes further in Note 8 to our consolidated financial statements titled, “Income Taxes” in this Annual Report on Form 10-K.

Additional information regarding our contingencies is included in Item 7 of Part II titled, “Management’s Discussion and Analysis of Financial Conditions and Results of Operations under "Contingencies".

As of March 31, 2020 and 2019, our commercial commitments totaled $80,230 and $73,765, respectively. Commercial commitments include standby letters of credit, letters of credit required as security under our self-insured risk retention policies, and other potential cash outflows resulting from an event that requires payment by us. Approximately $12,474 and $7,794 of the March 31, 2020 and 2019 totals, respectively, relate to letters of credit required as security under our self-insured risk retention policies.

As of March 31, 2020, we had minimum purchase commitments with suppliers for raw material purchases totaling $63,054. As of March 31, 2020, we also had commitments of $91,077 for long term construction contracts.

Leases

We lease manufacturing, warehouse and office space, service facilities, vehicles, equipment and communication systems. Certain leases contain options that provide us with the ability to extend the lease term. Such options are included in the lease term when it is reasonably certain that the option will be exercised. We made an accounting policy election to not recognize lease assets or lease liabilities for leases with a lease term of twelve months or less.

We determine if an agreement contains a lease and classify our leases as operating or finance at the lease commencement date. Finance leases are generally those leases for which we will pay substantially all the underlying asset’s fair value or will use the asset for all or a major part of its economic life, including circumstances in which we will ultimately own the asset. Lease assets arising from finance leases are included in property, plant and equipment, net and the liabilities are included in other liabilities. For finance leases, we recognize interest expense using the effective interest method and we recognize amortization expense on the lease asset over the shorter of the lease term or the useful life of the asset. Our finance leases are not material as of March 31, 2020 and for the twelve month period then ended.

Operating lease assets and liabilities are recognized at the commencement date of the lease based on the present value of lease payments over the lease term. Lease assets represent the right to use an underlying asset for the lease term and lease liabilities represent the obligation to make lease payments arising from the lease. As most leases do not provide an implicit interest rate, we estimate an incremental borrowing rate to determine the present value of lease payments. Our estimated incremental borrowing rate reflects a secured rate based on recent debt issuances, our estimated credit rating, lease term, as well as publicly available data for instruments with similar characteristics. For operating leases, we recognize lease cost on a straight-line basis over the term of the lease. When accounting for leases, we combine payments for leased assets, related services and other components of a lease.

The components of operating lease expense are as follows:



	Year Ended March 31, 2020
Fixed operating lease expense	$	28,252
Variable operating lease expense	5,449
Total operating lease expense	$	33,701

Supplemental cash flow information related to operating leases is as follows:



	Year Ended March 31, 2020
Cash paid for amounts included in the measurement of operating lease liabilities	$	27,613
Right-of-use assets obtained in exchange for operating lease obligations, net	$	44,636

Maturities of lease liabilities at March 31, 2020 are as follows:



	March 31, 2020
2021	$	25,302
2022	21,064
2023	17,271
2024	14,045
2025 and thereafter	96,249
Total operating lease payments	173,931
Less imputed interest	40,008
Total operating lease liabilities	$	133,923

In the preceding table, the future minimum annual rentals payable under noncancelable leases denominated in foreign currencies have been calculated using March 31, 2020 foreign currency exchange rates.

Supplemental information related to operating leases is as follows:



	March 31,
	2020
Weighted-average remaining lease term of operating leases	11.5 years

Weighted-average discount rate of operating leases	4.4	%

Prior to the adoption of ASU 2016-02, " Leases" (Topic 842) future minimum annual rentals payable under noncancelable operating lease agreements in excess of one year as of March 31, 2019 were as follows:



	March 31, 2019
2020	$	24,008
2021	18,567
2022	13,917
2023	11,929
2024 and thereafter	93,939
Total minimum lease payments	$	162,360

In the preceding table, the future minimum annual rentals payable under noncancelable leases denominated in foreign currencies have been calculated using March 31, 2019 foreign currency exchange rates.

Business Segment Information

12 Months Ended

Mar. 31, 2020

Business Segment Information

11. BUSINESS SEGMENT INFORMATION

We operate and report in four reportable business segments: Healthcare Products, Healthcare Specialty Services, Life Sciences, and Applied Sterilization Technologies. Corporate is presented separately and contains the costs that are associated with being a publicly traded company and certain other corporate costs.

Our Healthcare Products segment offers infection prevention and procedural solutions for healthcare providers worldwide, including consumable products, equipment maintenance and installation services, and capital equipment.

Our Healthcare Specialty Services segment provides a range of specialty services for healthcare providers including hospital sterilization services and instrument and scope repairs.

Our Life Sciences segment offers consumable products, equipment maintenance and specialty services for pharmaceutical manufacturers and research facilities, and capital equipment.

Our Applied Sterilization Technologies ("AST") segment provides contract sterilization and testing services for medical device and pharmaceutical manufacturers.

We disclose a measure of segment income that is consistent with the way management operates and views the business. The accounting policies for reportable segments are the same as those for the consolidated Company. In fiscal 2019, we ceased the allocation of certain corporate costs to our segments to align with internal management measures. The prior period operating income measures have been recast for comparability.

For the year ended March 31, 2020, revenues from a single Customer did not represent ten percent or more of any reportable segment’s revenues.



Years Ended March 31,	2020			2019			2018
Revenues:
Healthcare Products	$	1,423,198		$	1,338,428		$	1,276,054
Healthcare Specialty Services	563,611			510,057			469,065
Life Sciences	416,939			378,558			361,590
Applied Sterilization Technologies	627,147			555,127			513,287
Total revenues	$	3,030,895		$	2,782,170		$	2,619,996
Operating income (loss):
Healthcare Products	356,419			323,684			294,162
Healthcare Specialty Services	64,217			64,222			58,458
Life Sciences	144,088			132,129			123,889
Applied Sterilization Technologies	270,917			221,828			196,297
Total reportable segments	835,641			741,863			672,806
Corporate	(207,015		)	(184,900		)	(162,999		)
Total operating income before adjustments	$	628,626		$	556,963		$	509,807
Less: Adjustments
Amortization of acquired intangible assets ⁽¹⁾	71,675			86,878			67,793
Acquisition and integration related charges ⁽²⁾	8,225			8,901			16,211
Redomiciliation and tax restructuring costs ⁽³⁾	3,699			8,783			—
(Gain) on fair value adjustment of acquisition related contingent consideration ⁽¹⁾	—			(842		)	(593		)
Net loss (gain) on divestiture of businesses ⁽¹⁾	1,770			(1,370		)	14,547
Amortization of property "step up" to fair value ⁽¹⁾	2,392			2,440			1,599
Restructuring charges ⁽⁴⁾	3,143			40,708			103
Impact of the U.S. Tax Cuts and Jobs Act⁽⁵⁾	—			—			10,264
COVID-19 incremental costs⁽⁶⁾	749			—			—
Total operating income	$	536,973		$	411,465		$	399,883

⁽¹⁾For more information regarding our recent acquisitions and divestitures see Note 18 titled, "Business Acquisitions and Divestitures". Amortization of purchased intangible assets fiscal 2019 total includes an impairment charge of $16,249, see Note 3 titled, "Goodwill and Intangible Assets", for more information.

⁽²⁾ Acquisition and integration related charges include transaction costs and integration expenses associated with acquisitions.

⁽³⁾ Costs incurred in connection with the Redomiciliation and subsequent tax restructuring.

⁽⁴⁾ For more information regarding our restructuring activities see Note 2 titled, "Restructuring".

⁽⁵⁾Represents a one-time special employee bonus paid to most U.S. employees and associated professional fees.

⁽⁶⁾COVID-19 incremental costs includes the additional costs attributable to COVID-19 such as enhanced cleaning protocols, personal protective equipment for our employees, event cancellation fees, and payroll costs associated with our response to COVID-19, net of any government subsidies available.

Assets include the current and long-lived assets directly attributable to the segment based on the management of the location or on utilization. Certain corporate assets were allocated to the reportable segments based on revenues. Assets attributed to sales and distribution locations are only allocated to the Healthcare Products and Life Sciences segments.

Individual facilities, equipment, and intellectual properties are utilized for production by both the Healthcare Products and Life Sciences segments at varying levels over time. As a result, an allocation of total assets, capital expenditures, and depreciation and amortization is not meaningful to the individual performance of the Healthcare Products and Life Sciences segments. Therefore, their respective amounts are reported together.



March 31,	2020		2019
Assets:
Healthcare Products and Life Sciences	$	1,809,636	$	1,611,852
Healthcare Specialty Services	895,741		805,349
Applied Sterilization Technologies	2,720,205		2,655,870
Total assets	$	5,425,582	$	5,073,071



Years Ended March 31,	2020		2019		2018
Capital Expenditures
Healthcare Products and Life Sciences	$	44,029	$	49,688	$	52,767
Healthcare Specialty Services	40,619		39,950		16,497
Applied Sterilization Technologies	129,868		100,077		96,193
Total Capital Expenditures	$	214,516	$	189,715	$	165,457
Depreciation, Depletion, and Amortization
Healthcare Products and Life Sciences ^{(1) (2)}	$	59,150	$	81,264	$	52,025
Healthcare Specialty Services	33,043		33,392		29,269
Applied Sterilization Technologies ⁽¹⁾	105,042		111,265		97,038
Total Depreciation, Depletion, and Amortization	$	197,235	$	225,921	$	178,332

⁽¹⁾The fiscal 2020 and 2019 totals include the impact of Restructuring see Note 2 titled, "Restructuring" for additional information.

⁽²⁾The fiscal 2019 total includes an impairment charge see Note 3 titled, "Goodwill and Intangible Assets", for additional information.

Financial information for each of our United States and international geographic areas is presented in the following table. Revenues are based on the location of these operations and their Customers. Property, plant and equipment, net are those assets that are identified within the operations in each geographic area.



March 31,	2020		2019
Property, Plant, and Equipment, Net
Ireland	$	47,459	$	41,137
United States	632,333		577,113
Other locations	432,063		413,332
Property, Plant, and Equipment, Net	$	1,111,855	$	1,031,582



Years Ended March 31,	2020		2019		2018
Revenues:
Ireland	$	63,821	$	56,784	$	48,246
United States	2,211,722		1,976,814		1,836,414
Other locations	755,352		748,572		735,336
Total Revenues	$	3,030,895	$	2,782,170	$	2,619,996



Years Ended March 31,	2020		2019		2018
Healthcare Products:
Capital equipment	$	592,436	568,811		527,402
Consumables	454,518		414,969		412,495
Service	376,244		354,648		336,157
Total Healthcare Products Revenues	$	1,423,198	$	1,338,428	$	1,276,054
Total Healthcare Specialty Services Revenues	$	563,611	$	510,057	$	469,065
Life Sciences:
Capital equipment	$	112,747	102,714		100,555
Consumables	185,904		161,780		150,656
Service	118,288		114,064		110,379
Total Life Sciences Revenues	$	416,939	$	378,558	$	361,590
Applied Sterilization Technologies Service Revenues	$	627,147	$	555,127	$	513,287
Total Revenues	$	3,030,895	$	2,782,170	$	2,619,996

Effective April 1, 2020, and consistent with the way management will operate and view the business, the current Healthcare Products and Healthcare Specialty Services segments will be combined and reported as one segment, simply called Healthcare. Going forward we will operate and report in three business segments: Healthcare, Life Sciences and Applied Sterilization Technologies. Corporate will continue to be presented separately and contain the costs that are associated with being a publicly traded company and certain other corporate costs.

Common Shares

12 Months Ended

Mar. 31, 2020

Earnings Per Share [Text Block]

12. SHARES AND PREFERRED SHARES

Ordinary Shares

In connection with the Redomiciliation, STERIS UK shareholders received STERIS plc shares pursuant to a scheme of arrangement under UK law. Each STERIS UK ordinary shareholder received one ordinary share, par value $75.00, of STERIS plc for each STERIS UK ordinary share held, which STERIS UK shares were canceled. On May 3, 2019, the par value of STERIS plc shares issued pursuit to the scheme of arrangement was reduced to $0.001 per share.

We calculate basic earnings per share based upon the weighted average number of shares outstanding. We calculate diluted earnings per share based upon the weighted average number of shares outstanding plus the dilutive effect of share equivalents calculated using the treasury stock method. The following is a summary of shares and share equivalents outstanding used in the calculations of basic and diluted earnings per share:



Years ended March 31,	2020	2019	2018
Denominator (shares in thousands):
Weighted average shares outstanding—basic	84,778	84,577	85,028
Dilutive effect of share equivalents	863	891	685
Weighted average shares outstanding and share equivalents—diluted	85,641	85,468	85,713

Options to purchase the following number of shares were outstanding but excluded from the computation of diluted earnings per share because the combined exercise prices, unamortized fair values, and assumed tax benefits upon exercise were greater than the average market price for the shares during the periods, so including these options would be anti-dilutive:



Years ended March 31,	2020	2019	2018
Number of ordinary share options (shares in thousands)	285	352	393

Additional Authorized Shares

The Company has an additional authorized share capital of 50,000,000 preferred shares of $0.001 par value each, plus 25,000 deferred ordinary shares of €1.00 par value each, in order to satisfy minimum statutory capital requirements for all Irish public limited companies.

Repurchases of Common Shares	12 Months Ended
Repurchases of Common Shares	Mar. 31, 2020
Repurchases of Common Shares [Abstract]
Schedule of Treasury Stock by Class [Text Block]	13. REPURCHASE OF ORDINARY SHARES On August 9, 2016, STERIS UK announced that its Board of Directors had authorized the purchase of up to $300,000 (net of taxes, fees and commissions) of our ordinary shares. As a result of the Redomiciliation, that share repurchase authorization terminated. On May 7, 2019, our Board of Directors authorized the continuation of the share repurchase program resulting in a share repurchase authorization of $78,979 (net of taxes, fees and commissions). On July 30, 2019, our Board of Directors approved an increase to the May 7, 2019 authorization of an additional amount of $300,000 (net of taxes, fees and commissions). As of March 31, 2020, there was approximately $338,979 (net of taxes, fees and commissions) of remaining availability under the authorization. Under the authorizations, the Company may repurchase its shares from time to time through open market purchases, including 10b5-1 plans. Any repurchase program may be activated, suspended or discontinued at any time. During fiscal 2020, we repurchased 273,259 of our ordinary shares for the aggregate amount of $40,000 (net of fees and commissions) pursuant to the 2019 authorizations. During fiscal 2019, we repurchased 651,093 of our ordinary shares for the aggregate amount of $72,082 (net of fees and commissions) pursuant to the 2016 authorization. During fiscal 2018, we repurchased 664,963 of our ordinary shares for the aggregate amount of $58,939 (net of fees and commissions) pursuant to the 2016 authorization. During fiscal 2020, we obtained 122,884 of our ordinary shares in the aggregate amount of $11,235 in connection with share based compensation award programs. During fiscal 2019, we obtained 112,356 of our ordinary shares in the aggregate amount of $8,262 in connection with share based compensation award programs. During fiscal 2018, we obtained 127,903 of our ordinary shares in the aggregate amount of $7,014 in connection with share based compensation award programs.

Share-Based Compensation

12 Months Ended

Mar. 31, 2020

Share-based Payment Arrangement [Abstract]

Share-Based Compensation

14. SHARE-BASED COMPENSATION

We maintain a long-term incentive plan that makes available shares for grants, at the discretion of the Board of Directors or Compensation Committee of the Board of Directors, to officers, directors, and key employees in the form of stock options, restricted shares, restricted share units, stock appreciation rights and share grants. We satisfy share award incentives through the issuance of new ordinary shares.

Stock options provide the right to purchase our shares at the market price on the date of grant, or for options granted to employees in fiscal 2019 and thereafter, 110% of the market price on the date of grant, subject to the terms of the plan and agreements. Generally, one-fourth of the stock options granted to employees become exercisable for each full year of employment following the grant date. Stock options granted generally expire 10 years after the grant date, or in some cases earlier if the option holder is no longer employed by us. Restricted shares and restricted share units generally cliff vest after a four year period or vest in tranches of one-fourth of the number granted for each year of employment after the grant date. As of March 31, 2020, 3,961,998 shares remained available for grant under the long-term incentive plan.

The fair value of share-based stock option compensation awards was estimated at their grant date using the Black-Scholes-Merton option pricing model. This model was developed for use in estimating the fair value of traded options that have no vesting restrictions and are fully transferable, characteristics that are not present in our option grants. If the model permitted consideration of the unique characteristics of employee stock options, the resulting estimate of the fair value of the stock options could be different. The value of the portion of the award that is ultimately expected to vest is recognized as expense over the requisite service periods in our Consolidated Statements of Income. The expense is classified as cost of goods sold or selling, general and administrative expenses in a manner consistent with the employee’s compensation and benefits.

The following weighted-average assumptions were used for options granted during fiscal 2020, fiscal 2019 and fiscal 2018:



	Fiscal 2020		Fiscal 2019		Fiscal 2018
Risk-free interest rate	2.26	%	2.64	%	2.01	%
Expected life of options	6.2 years		6.2 years		5.7 years
Expected dividend yield of stock	1.22	%	1.47	%	1.58	%
Expected volatility of stock	20.27	%	19.91	%	22.08	%

The risk-free interest rate is based upon the U.S. Treasury yield curve. The expected life of options is reflective of historical experience, vesting schedules and contractual terms. The expected dividend yield of stock represents our best estimate of the expected future dividend yield. The expected volatility of stock is derived by referring to our historical stock prices over a time frame similar to that of the expected life of the grant. An estimated forfeiture rate of 2.77%, 2.37% and 2.25% was applied in fiscal 2020, 2019 and 2018 respectively. This rate is calculated based upon historical activity and represents an estimate of the granted options not expected to vest. If actual forfeitures differ from this calculated rate, we may be required to make additional adjustments to compensation expense in future periods. The assumptions used above are reviewed at the time of each significant option grant, or at least annually.

A summary of share option activity is as follows:



	Number of Options		Weighted Average Exercise Price		Average Remaining Contractual Term	Aggregate Intrinsic Value
Outstanding at March 31, 2019	2,104,685		$	72.82
Granted	345,138		147.22
Exercised	(613,086	)	57.29
Forfeited	(40,611	)	122.61
Outstanding at March 31, 2020	1,796,126		$	91.29	6.8 years	$	89,800
Exercisable at March 31, 2020	922,708		$	69.52	5.6 years	$	65,136

We estimate that 857,860 of the non-vested stock options outstanding at March 31, 2020 will ultimately vest.

The aggregate intrinsic value in the table above represents the total pre-tax difference between the $139.97 closing price of our ordinary shares on March 31, 2020 over the exercise prices of the stock options, multiplied by the number of options outstanding or outstanding and exercisable, as applicable. The aggregate intrinsic value is not recorded for financial accounting purposes and the value changes daily based on the daily changes in the fair market value of our ordinary shares.

The total intrinsic value of stock options exercised during the years ended March 31, 2020, 2019 and 2018 was $57,683, $25,371 and $16,096, respectively. Net cash proceeds from the exercise of stock options were $34,731, $13,308 and $11,093 for the years ended March 31, 2020, 2019 and 2018, respectively. The tax benefit from stock option exercises was $16,440, $8,306 and $6,581 for the years ended March 31, 2020, 2019 and 2018, respectively.

The weighted average grant date fair value of stock option grants was $23.52, $18.12 and $15.51 for the years ended March 31, 2020, 2019 and 2018, respectively.

Stock appreciation rights (“SARS”) carry generally the same terms and vesting requirements as stock options except that they are settled in cash upon exercise and therefore, are classified as liabilities. The fair value of the outstanding SARS as of March 31, 2020, 2019 and 2018 was $544, $889, and $1,437, respectively. The fair value of outstanding SARS is revalued at each reporting date and the related liability and expense are adjusted appropriately.

A summary of the non-vested restricted share activity is presented below:



	Number of Restricted Shares		Number of Restricted Share Units		Weighted-Average Grant Date Fair Value
Non-vested at March 31, 2019	676,373		33,219		$	80.86
Granted	156,901		14,553		135.86
Vested	(221,606	)	(14,999	)	74.63
Forfeited	(35,838	)	(1,879	)	93.56
Non-vested at March 31, 2020	575,830		30,894		$	98.07

Restricted shares granted are valued based on the closing stock price at the grant date. The value of restricted shares and units that vested during fiscal 2020 was $17,657.

As of March 31, 2020, there was a total of $42,056 in unrecognized compensation cost related to non-vested share-based compensation granted under our share-based compensation plans. We expect to recognize the cost over a weighted average period of 2.1 years.

Financial and Other Guarantees

12 Months Ended

Mar. 31, 2020

Product Warranty Disclosure [Text Block]

15. FINANCIAL AND OTHER GUARANTEES

We generally offer a limited parts and labor warranty on capital equipment. The specific terms and conditions of those warranties vary depending on the product sold and the countries where we conduct business. We record a liability for the estimated cost of product warranties at the time product revenues are recognized. The amounts we expect to incur on behalf of our Customers for the future estimated cost of these warranties are recorded as a current liability on the accompanying Consolidated Balance Sheets. Factors that affect the amount of our warranty liability include the number and type of installed units, historical and anticipated rates of product failures, and material and service costs per claim. We periodically assess the adequacy of our recorded warranty liabilities and adjust the amounts as necessary.

Changes in our warranty liability during the periods presented are as follows:



Years Ended March 31,	2020			2019			2018
Balance, Beginning of Year	$	7,194		$	6,872		$	6,861
Warranties issued during the period	12,311			11,177			12,305
Settlements made during the period	(12,124		)	(10,855		)	(12,294		)
Balance, End of Year	$	7,381		$	7,194		$	6,872

Forward and Swap Contracts

12 Months Ended

Mar. 31, 2020

Derivative Instruments and Hedging Activities Disclosure [Text Block]

16. DERIVATIVES AND HEDGING

From time to time, we enter into forward contracts to hedge potential foreign currency gains and losses that arise from transactions denominated in foreign currencies, including inter-company transactions. We may also enter into commodity swap contracts to hedge price changes in nickel that impact raw materials included in our cost of revenues. We do not use derivative financial instruments for speculative purposes. These contracts are not designated as hedging instruments and do not receive hedge accounting treatment; therefore, changes in their fair value are not deferred but are recognized immediately in the Consolidated Statements of Income. At March 31, 2020, we held a foreign currency forward contract to buy 6.0 million Canadian dollars. At March 31, 2020, we held commodity swap contracts to buy 715.2 thousand pounds of nickel.



	Asset Derivatives				Liability Derivatives
	Fair Value at		Fair Value at		Fair Value at		Fair Value at
Balance Sheet Location	March 31, 2020		March 31, 2019		March 31, 2020		March 31, 2019
Prepaid & Other	$	124	$	552	$	—	$	—
Accrued expenses and other	$	—	$	—	$	912	$	278

The following table presents the impact of derivative instruments and their location within the Consolidated Statements of Income:



	Location of (loss) gain recognized in income	Amount of (loss) gain recognized in income
		Years Ended March 31,
		2020			2019		2018
Foreign currency forward contracts	Selling, general and administrative	$	798		$	235	$	(1,357	)
Commodity swap contracts	Cost of revenues	$	(660	)	$	434	$	373

Additionally, we hold our debt in multiple currencies to fund our operations and investments in certain subsidiaries. We designate portions of non-functional currency denominated intercompany loans as hedges of portions of net investments in foreign operations. Net debt designated as non-derivative net investment hedging instruments totaled $45,765 at March 31, 2020. These hedges are designed to be fully effective and any associated gain or loss is recognized in Accumulated Other Comprehensive Income and will be reclassified to income in the same period when a gain or loss related to the net investment in the foreign operation is included in income.

Fair Value Measurements

12 Months Ended

Mar. 31, 2020

Fair Value Disclosures [Text Block]

17. FAIR VALUE MEASUREMENTS

Fair value is defined as the price that would be received to sell an asset or that would be paid to transfer a liability in an orderly transaction between market participants at the measurement date. We estimate the fair value of financial assets and liabilities using available market information and generally accepted valuation methodologies. The inputs used to measure fair value are classified into three tiers. These tiers include Level 1, defined as observable inputs such as quoted prices in active markets; Level 2, defined as inputs other than quoted prices in active markets that are either directly or indirectly observable; and Level 3, defined as unobservable inputs in which little or no market data exists, therefore requiring the entity to develop its own assumptions. The following table shows the fair value of our financial assets and liabilities at March 31, 2020 and March 31, 2019:



					Fair Value Measurements
At March 31,	Carrying Value				Quoted Prices in Active Markets for Identical Assets				Significant Other Observable Inputs				Significant Unobservable Inputs
					Level 1				Level 2				Level 3
	2020		2019		2020		2019		2020		2019		2020		2019
Assets:
Cash and cash equivalents	$	319,581	$	220,633	$	319,581	$	220,633	$	—	$	—	$	—	$	—
Forward and swap contracts ⁽¹⁾	124		552		—		—		124		552		—		—
Equity investments ⁽²⁾	9,624		13,873		9,624		13,873		—		—		—		—
Other investments	2,507		2,545		2,507		2,545		—		—		—		—
Liabilities:
Forward and swap contracts ⁽¹⁾	$	912	$	278	$	—	$	—	$	912	$	278	$	—	$	—
Deferred compensation plans ⁽²⁾	1,475		1,564		1,475		1,564		—		—		—		—
Long term debt ⁽³⁾	1,150,521		1,183,227		—		—		1,143,978		1,200,558		—		—
Contingent consideration obligations ⁽⁴⁾	15,988		5,950		—		—		—		—		15,988		5,950

⁽¹⁾ The fair values of forward and swap contracts are based on period-end forward rates and reflect the value of the amount that we would pay or receive for the contracts involving the same notional amounts and maturity dates.

⁽²⁾We maintain a frozen domestic non-qualified deferred compensation plan covering certain employees, which allowed for the deferral of payment of previously earned compensation for an employee-specified term or until retirement or termination. Amounts deferred can be allocated to various hypothetical investment options (compensation deferrals have been frozen under the plan). We hold investments to satisfy the future obligations of the plan. Employees who made deferrals are entitled to receive distributions of their hypothetical account balances (amounts deferred, together with earnings (losses)). We also hold an investment in the common stock of Servizi Italia, S.p.A, a leading provider of integrated linen washing and outsourced sterile processing services to hospital Customers. Beginning in fiscal 2019, changes in the fair value of these investments are recorded in the "Interest income and miscellaneous expense line" of the Consolidated Statement of Income. During fiscal 2020 and fiscal 2019 we recorded losses of $3,579 and $2,731, respectively, related to these investments.

⁽³⁾We estimate the fair value of our long-term debt using discounted cash flow analyses, based on our current incremental borrowing rates for similar types of borrowing arrangements.

⁽⁴⁾ Contingent consideration obligations arise from prior business acquisitions. The fair values are based on discounted cash flow analyses reflecting the possible achievement of specified performance measures or events and captures the contractual nature of the contingencies, commercial risk, and the time value of money. Contingent consideration obligations are classified in the consolidated balance sheets as accrued expense (short-term) and other liabilities (long-term), as appropriate based on the contractual payment dates.

The changes in Level 3 assets and liabilities measured at fair value on a recurring basis are summarized as follows:



	Contingent Consideration
Balance at March 31, 2018	$	8,068
Payments	(691		)
Reductions and adjustments	(1,466		)
Foreign currency translation adjustments	39
Balance at March 31, 2019	$	5,950
Additions	9,907
Foreign currency translation adjustments	131
Balance at March 31, 2020	$	15,988

Additions and payments of contingent consideration obligations during fiscal year 2020 and 2019 were primarily related to our fiscal year 2020 and 2019 acquisitions. Refer to Note 18, "Business Acquisitions and Divestitures" for more information.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

Reclassifications out of AOCI (Notes)

12 Months Ended

Mar. 31, 2020

Reclassifications out of AOCI Equity [Abstract]

Reclassifications Out of AOCI [Text Block]

19. RECLASSIFICATIONS OUT OF ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)

Amounts in Accumulated Other Comprehensive Income (Loss) are presented net of the related tax. Foreign Currency Translation is not adjusted for income taxes. Accumulated other comprehensive income (loss) shown in our Consolidated Statements of Shareholders' Equity and changes in our balances, net of tax, for the years ended March 31, 2020, 2019 and 2018 were as follows:



	Gain (Loss) on Available for Sale Securities ^{(1) (4)}							Defined Benefit Plans ⁽²⁾									Foreign Currency Translation ⁽³⁾									Total Accumulated Other Comprehensive Income (Loss)
	2020		2019			2018		2020			2019			2018			2020			2019			2018			2020			2019			2018
Beginning Balance	$	—	$	1,970		$	178	$	(4,204	)	$	(6,742	)	$	(2,355	)	$	(155,574	)	$	16,457		$	(238,525	)	$	(159,778	)	$	11,685		$	(240,702	)
Other Comprehensive Income (Loss) before reclassifications	—		—			1,703		1,505			3,920			(2,291		)	(73,076		)	(172,031		)	254,982			(71,571		)	(168,111		)	254,394
Reclassified from Accumulated Other Comprehensive Income (Loss)	—		—			89		(4,114		)	(1,382		)	(2,096		)	—			—			—			(4,114		)	(1,382		)	(2,007		)
Net current-period Other Comprehensive Income (Loss)	—		—			1,792		(2,609		)	2,538			(4,387		)	(73,076		)	(172,031		)	254,982			(75,685		)	(169,493		)	252,387
Cumulative adjustment to Retained Earnings ⁽⁴⁾	$	—	$	(1,970	)	$	—	$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	(1,970	)	$	—
Ending Balance	$	—	$	—		$	1,970	$	(6,813	)	$	(4,204	)	$	(6,742	)	$	(228,650	)	$	(155,574	)	$	16,457		$	(235,463	)	$	(159,778	)	$	11,685

⁽¹⁾ Realized gain (loss) on available for sale securities is reported in the Interest income and miscellaneous expense line of the Consolidated

Statements of Income for fiscal 2018.

⁽²⁾ Amortization (gain) of defined benefit plan items are reported in the Interest income and miscellaneous expense line of our Consolidated Statements of Income.

⁽³⁾ The effective portion of gain or loss on net debt designated as non-derivative net investment hedging instruments is recognized in Accumulated Other Comprehensive Income and is reclassified to income in the same period when a gain or loss related to the net investment is included in income.

⁽⁴⁾ As a result of the adoption of ASC 2016-01 we recorded a cumulative effect adjustment to our opening fiscal 2019 retained earnings balance that increased retained earnings and decreased accumulated other comprehensive income. See Note 1 titled, "Nature of Operations and Summary of Significant Accounting Policies" for further details.

Reclassification out of Accumulated Other Comprehensive Income [Table Text Block]



	Gain (Loss) on Available for Sale Securities ^{(1) (4)}							Defined Benefit Plans ⁽²⁾									Foreign Currency Translation ⁽³⁾									Total Accumulated Other Comprehensive Income (Loss)
	2020		2019			2018		2020			2019			2018			2020			2019			2018			2020			2019			2018
Beginning Balance	$	—	$	1,970		$	178	$	(4,204	)	$	(6,742	)	$	(2,355	)	$	(155,574	)	$	16,457		$	(238,525	)	$	(159,778	)	$	11,685		$	(240,702	)
Other Comprehensive Income (Loss) before reclassifications	—		—			1,703		1,505			3,920			(2,291		)	(73,076		)	(172,031		)	254,982			(71,571		)	(168,111		)	254,394
Reclassified from Accumulated Other Comprehensive Income (Loss)	—		—			89		(4,114		)	(1,382		)	(2,096		)	—			—			—			(4,114		)	(1,382		)	(2,007		)
Net current-period Other Comprehensive Income (Loss)	—		—			1,792		(2,609		)	2,538			(4,387		)	(73,076		)	(172,031		)	254,982			(75,685		)	(169,493		)	252,387
Cumulative adjustment to Retained Earnings ⁽⁴⁾	$	—	$	(1,970	)	$	—	$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	(1,970	)	$	—
Ending Balance	$	—	$	—		$	1,970	$	(6,813	)	$	(4,204	)	$	(6,742	)	$	(228,650	)	$	(155,574	)	$	16,457		$	(235,463	)	$	(159,778	)	$	11,685

⁽¹⁾ Realized gain (loss) on available for sale securities is reported in the Interest income and miscellaneous expense line of the Consolidated

Statements of Income for fiscal 2018.

⁽²⁾ Amortization (gain) of defined benefit plan items are reported in the Interest income and miscellaneous expense line of our Consolidated Statements of Income.

Quarterly Results (Unaudited)

12 Months Ended

Mar. 31, 2020

Quarterly Financial Information Disclosure [Abstract]

Quarterly Financial Information [Text Block]

20. QUARTERLY RESULTS (UNAUDITED)



Quarters Ended	March 31,			December 31,			September 30,			June 30,
Fiscal 2020
Revenues:
Product	$	393,592		$	363,795		$	337,666		$	307,735
Service	429,399			410,466			399,174			389,068
Total Revenues	822,991			774,261			736,840			696,803
Cost of Revenues:
Product	210,538			195,105			183,600			160,959
Service	248,393			247,803			234,573			230,001
Total Cost of Revenues	458,931			442,908			418,173			390,960
Gross Profit	364,060			331,353			318,667			305,843
Percentage of Revenues	44.2		%	42.8		%	43.2		%	43.9		%
Restructuring Expenses	6			(448		)	(274		)	1,389
Net Income Attributable to Shareholders	$	123,316		$	104,930		$	94,769		$	84,590
Basic Income Per Ordinary Share Attributable to Shareholders:
Net income	$	1.45		$	1.24		$	1.12		$	1.00
Diluted Income Per Ordinary Share Attributable to Shareholders:
Net income	$	1.44		$	1.23		$	1.11		$	0.99

Fiscal 2019
Revenues:
Product	$	374,937		$	327,639		$	314,659		$	278,790
Service	393,276			368,599			364,302			359,968
Total Revenues	768,213			696,238			678,961			638,758
Cost of Revenues:
Product	201,357			182,229			172,107			146,602
Service	232,140			227,012			222,190			223,106
Total Cost of Revenues	433,497			409,241			394,297			369,708
Gross Profit	334,716			286,997			284,664			269,050
Percentage of Revenues	43.6		%	41.2		%	41.9		%	42.1		%
Restructuring Expenses	4,840			26,147			—			—
Net Income Attributable to Shareholders	$	108,745		$	47,858		$	77,457		$	69,991
Basic Income Per Ordinary Share Attributable to Shareholders:
Net income	$	1.29		$	0.57		$	0.92		$	0.83
Diluted Income Per Ordinary Share Attributable to Shareholders:
Net income	$	1.27		$	0.56		$	0.91		$	0.82

Subsequent Events (Notes)	12 Months Ended
Subsequent Events (Notes)	Mar. 31, 2020
Subsequent Event [Line Items]
Subsequent Events [Text Block]	21. SUBSEQUENT EVENTS The COVID-19 pandemic began to impact our business late in fiscal 2020. The coronavirus pandemic and related public health recommendations and mandated precautions to mitigate the spread of COVID-19, including deferral of medical procedures and treatments and shelter-in-place orders or similar measures, is negatively affecting, and is expected to continue to affect some of our operations which would impact our financial position and cash flows in fiscal 2021. We have experienced and expect to continue to experience unpredictable fluctuations in demand for certain of our products and services, including some products and services that are experiencing increased demand.

Nature of Operations and Summary of Significant Accounting Policies (Policies)

12 Months Ended

Mar. 31, 2020

Accounting Policies [Abstract]

Revenue from Contract with Customer [Policy Text Block]

We do not capitalize sales commissions as substantially all of our sales commission programs have an amortization period of one year or less.

Refer to Note 11, titled "Business Segment Information" for disaggregation of revenue.

Product Revenue

Service Revenue

Contract Liabilities

Refer to Note 7, titled "Additional Consolidated Balance Sheet Information" for Deferred revenue balances.

Service Liabilities

Refer to Note 7, titled "Additional Consolidated Balance Sheet Information" for Service liability balances.

Remaining Performance Obligations

Consolidation, Policy

Use of Estimates, Policy

Cash and Cash Equivalents, Policy

Information supplementing our Consolidated Statements of Cash Flows is as follows:



Years Ended March 31,	2020		2019		2018
Cash paid during the year for:
Interest	$	38,021	$	44,118	$	48,663
Income taxes	92,462		64,668		85,629
Cash received during the year for income tax refunds	4,378		2,189		7,747

Trade and Other Accounts Receivable, Policy

Inventory, Policy

Property, Plant and Equipment, Policy

We generally depreciate or deplete property, plant, and equipment over the useful lives presented in the following table:



Asset Type		Useful Life (years)
Land improvements		3-40
Buildings and leasehold improvements		2-50
Machinery and equipment		2-20
Information Systems		2-20
Radioisotope (cobalt-60)		20

Goodwill and Intangible Assets, Policy

Investment, Policy

Impairment or Disposal of Long-Lived Assets, Policy

Asset Retirement Obligation [Policy Text Block]

Business Combinations Policy

Liability Reserve Estimate, Policy

Pension and Other Postretirement Plans, Policy

Fair Value of Financial Instruments, Policy

Foreign Currency Transactions and Translations Policy

Derivatives, Policy

Standard Product Warranty, Policy

Shipping and Handling Cost, Policy

Advertising Costs, Policy

Research and Development Expense, Policy

Income Tax, Policy

Share-based Compensation, Option and Incentive Plans Policy

Costs Associated with Exit or Disposal Activities or Restructurings, Policy

New Accounting Pronouncements, Policy [Policy Text Block]

Recently Issued Accounting Standards Impacting the Company are presented in the following table:



Standard	Date of Issuance	Description	Date of Adoption	Effect on the financial statements or other significant matters
Standards that have recently been adopted
ASU 2016-02, "Leases" (Topic 842)	February 2016	The standard requires lessees to record all leases, whether finance or operating, on the balance sheet. An asset will be recorded to represent the right to use the leased asset, and a liability will be recorded to represent the lease obligation. The standard is effective for annual periods beginning after December 15, 2018 and interim periods within that period. Early adoption is permitted.	First Quarter Fiscal 2020	We adopted this standard, and related amendments, effective April 1, 2019 using the modified retrospective transition method and have not restated prior periods. We elected to use the package of practical expedients permitted under the transition guidance, which allows the carry forward of historical lease classification of existing leases. We also elected the practical expedient related to land easements, allowing us to carry forward our accounting treatment for land easements on existing or expired agreements. We made an accounting policy election to not recognize lease assets or liabilities for leases with a term of 12 months or less and elected to not separate non-lease components from lease components to which they relate for all asset classes. We recorded lease right-of-use assets and lease liabilities for operating leases totaling $120,562. The adoption of the standard did not have a material impact to the Consolidated Statements of Income or Cash Flows. Additional information is disclosed in Note 10 under the heading "Leases".



ASU 2017-12 "Targeted Improvements to Accounting for Hedging Activities" (Topic 815)	August 2017	The standard provides targeted improvements to accounting for hedging activities by expanding an entity’s ability to hedge non-financial and financial risk components and reduce complexity in fair value hedges of interest rate risk. The guidance eliminates the requirement to separately measure and report hedge ineffectiveness and generally requires the entire change in the fair value of a hedging instrument to be presented in the same income statement line as the hedged item. The guidance also eases certain documentation and assessment requirements and modifies the accounting for components excluded from the assessment of hedge effectiveness. The standard is effective for fiscal years, and interim periods within those years, beginning after December 15, 2018. Early adoption is permitted in any interim period after issuance of the standard.	First Quarter Fiscal 2020	We adopted this standard effective April 1, 2019 with no material impact to our Consolidated Balance Sheets. The impact to our Consolidated Statements of Income will depend on the value of future hedging activities.
ASU 2018-02 "Income Statement - Reporting Comprehensive Income" (Topic 220)	February 2018	The standard allows a reclassification from accumulated other comprehensive income to retained earnings for stranded tax effects resulting from the Tax Cuts and Jobs Act ("TCJA") and requires certain disclosures about stranded tax effects. The underlying guidance requiring that the effect of a change in tax laws or rates be included in income from continuing operations is not affected. This standard is effective for fiscal years beginning after December 15, 2018 and interim periods within those years. Early adoption is permitted.	First Quarter Fiscal 2020	We have elected not to reclassify the income tax effects of the TCJA from Accumulated Other Comprehensive Income ("AOCI") to retained earnings. Our policy is to release income tax effects from AOCI when individual units of account are sold or terminated.


Standards that have not yet been adopted
ASU 2016-13, "Measurement of Credit Losses on Financial Instruments"	June 2016	The standard requires a financial asset (or group of financial assets) measured at amortized cost to be presented at the net amount expected to be collected. The allowance for credit losses is a valuation account that is deducted from the amortized cost basis of the financial asset(s) to present the net carrying value at the amount expected to be collected on the financial asset. Credit losses relating to available-for-sale debt securities should be recorded through an allowance for credit losses. The standard is effective for annual periods beginning after December 15, 2019. Early adoption is permitted.	N/A	We do not expect this standard to have a material impact on our consolidated financial statements.



ASU 2018-13 "Fair Value Measurement (Topic 820) Disclosure Framework- Changes to Disclosure Requirements for Fair Value Measurement”	August 2018	The standard modifies the disclosure requirements by adding, removing, and modifying certain required disclosures for fair value measurements for assets and liabilities disclosed within the fair value hierarchy. The standard is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2019 and early adoption is permitted.	N/A	We do not expect this standard to have a material impact on our consolidated financial statements as it modifies disclosure requirements only.
ASU 2018-14 "Compensation- Retirement Benefits - Defined Benefit Plans- General Topic (715-20): Disclosure Framework- Changes to the Disclosure Requirements for Defined Benefit Plans"	August 2018	The standard modifies the disclosure requirements by adding, removing, and modifying certain required disclosures for employers that sponsor defined benefit pension or other post-retirement benefit plans. The standard also clarifies disclosure requirements for defined benefit pension plans relating to the projected benefit obligation and accumulated benefit obligation. The standard is effective for fiscal years ending after December 15, 2019 and early adoption is permitted.	N/A	We do not expect this standard to have a material impact on our consolidated financial statements as it modifies disclosure requirements only.
ASU 2018-15 "Intangibles- Goodwill and Other- Internal Use Software (Subtopic 350-40): Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement that is a Service Contract"	August 2018	The standard aligns the requirements for capitalizing implementation costs incurred in a hosting arrangement that is a service contract with the requirements for capitalizing implementation costs incurred to develop or obtain internal-use software. The standard is effective for fiscal years beginning after December 15, 2019 and early adoption is permitted.	N/A	We do not expect this standard to have a material impact on our consolidated financial statements.
ASU 2019-12 "Income Taxes (Topic 740)"	December 2019	The standard provides final guidance that simplifies the accounting for income taxes by eliminating certain exceptions to the guidance in ASC 740 related to the approach for intra-period tax allocation, the methodology for calculating income taxes in an interim period and the recognition of deferred tax liabilities for outside basis differences. The guidance simplifies accounting for franchise taxes and enacted changes in tax laws or rates and clarifies the accounting for transactions that result in a step-up in the tax basis of goodwill. The standard is effective for fiscal years ending after December 15, 2020 and early adoption is permitted.	N/A	We are in the process of evaluating the impact that the standard will have on our consolidated financial statements.

Contingencies Lease Policy (Policies)

12 Months Ended

Mar. 31, 2020

Property, Plant and Equipment [Abstract]

Lessee, Leases [Policy Text Block]

Leases

Schedule of Rent Expense [Table Text Block]

The components of operating lease expense are as follows:



	Year Ended March 31, 2020
Fixed operating lease expense	$	28,252
Variable operating lease expense	5,449
Total operating lease expense	$	33,701

Nature of Operations and Summary of Significant Accounting Policies (Tables)

12 Months Ended

Mar. 31, 2020

Accounting Policies [Abstract]

Impact of ASC 2014-09 Adoption [Table Text Block]

We do not capitalize sales commissions as substantially all of our sales commission programs have an amortization period of one year or less.

Refer to Note 11, titled "Business Segment Information" for disaggregation of revenue.

Product Revenue

Service Revenue

Contract Liabilities

Refer to Note 7, titled "Additional Consolidated Balance Sheet Information" for Deferred revenue balances.

Service Liabilities

Refer to Note 7, titled "Additional Consolidated Balance Sheet Information" for Service liability balances.

Remaining Performance Obligations

Cash Flow, Supplemental Disclosures

Information supplementing our Consolidated Statements of Cash Flows is as follows:



Years Ended March 31,	2020		2019		2018
Cash paid during the year for:
Interest	$	38,021	$	44,118	$	48,663
Income taxes	92,462		64,668		85,629
Cash received during the year for income tax refunds	4,378		2,189		7,747

Property, Plant and Equipment

We generally depreciate or deplete property, plant, and equipment over the useful lives presented in the following table:



Asset Type		Useful Life (years)
Land improvements		3-40
Buildings and leasehold improvements		2-50
Machinery and equipment		2-20
Information Systems		2-20
Radioisotope (cobalt-60)		20

Information related to the major categories of our depreciable assets is as follows:



March 31,	2020			2019
Land and land improvements ⁽¹⁾	$	65,994		$	63,522
Buildings and leasehold improvements	531,267			480,359
Machinery and equipment	682,488			656,956
Information systems	181,112			169,711
Radioisotope	508,593			483,080
Construction in progress ⁽¹⁾	159,731			133,689
Total property, plant, and equipment	2,129,185			1,987,317
Less: accumulated depreciation and depletion	(1,017,330		)	(955,735		)
Property, plant, and equipment, net	$	1,111,855		$	1,031,582

⁽¹⁾ Land is not depreciated. Construction in progress is not depreciated until placed in service.

Restructuring (Tables)

12 Months Ended

Mar. 31, 2020

Restructuring and Related Activities [Abstract]

Restructuring and Related Costs [Table Text Block]

The following table summarizes our total pre-tax restructuring expenses for fiscal 2020 and 2019:



Fiscal 2019 Restructuring Plan	Year Ended March 31, 2020			Year Ended March 31, 2019
Severance and other compensation related costs	$	1,554		$	5,651
Accelerated depreciation and amortization	—			16,194
(Gain) on disposal of asset	(1,164		)	—
Asset impairment	—			4,312
Lease termination costs and other	283			4,830
Product rationalization ⁽¹⁾	2,470			9,721
Total restructuring expenses	$	3,143		$	40,708

(1) Recorded in cost of revenues on the Consolidated Statements of Income.

Schedule of Restructuring Reserve by Type of Cost [Table Text Block]



Fiscal 2019 Restructuring Plan	March 31, 2019		Provisions		Payments /Impairments (1)			March 31, 2020
Severance and termination benefits	$	4,102	$	1,554	$	(4,659	)	$	997
Lease termination obligations and other	2,029		283		(2,292		)	20
Total	$	6,131	$	1,837	$	(6,951	)	$	1,017

(1) Certain amounts reported include the impact of foreign currency movements relative to the U.S. dollar.



Fiscal 2019 Restructuring Plan	March 31, 2018			Provisions			Payments /Impairments (1)				March 31, 2019
Severance and termination benefits	$	—		$	5,651		$	(1,549	)		$	4,102
Lease termination obligations and other	—			4,830			(2,801		)		2,029
Total	$	—	—	$	10,481	—	$	(4,350	)	—	$	6,131

(1) Certain amounts reported include the impact of foreign currency movements relative to the U.S. dollar

Business Acquisitions and Divestitures Business Acquisitions and Divestitures (Tables)

12 Months Ended

Mar. 31, 2020

Business Combinations and Divestitures [Abstract]

Schedule of Business Acquisitions, by Acquisition [Table Text Block]

The table below summarizes the allocation of the purchase price to the net assets acquired based on fair values at the acquisition dates for our fiscal 2020, 2019 and 2018 acquisitions.



	Fiscal Year 2020			Fiscal Year 2019			Fiscal Year 2018
(dollars in thousands)	All Acquisitions (1)			All Acquisitions			All Acquisitions
Cash	$	8,811		$	—		$	235
Accounts receivable	10,331			750			1,464
Inventory	8,999			51			2,289
Property, plant and equipment	9,241			2,004			3,381
Lease right-of-use assets, net	4,462			—			—
Other assets	1,133			479			126
Intangible assets	36,500			4,070			17,404
Goodwill	74,531			6,614			32,384
Total Assets	154,008			13,968			57,283
Current liabilities	(20,659		)	(146		)	(2,077		)
Non-current liabilities	(4,000		)	(509		)	(2,679		)
Total Liabilities	(24,659		)	(655		)	(4,756		)
Net Assets	$	129,349		$	13,313		$	52,527

Goodwill and Intangible Assets (Tables)

12 Months Ended

Mar. 31, 2020

Goodwill and Intangible Assets Disclosure [Abstract]

Summary of Finite-Lived and Indefinite-Lived Intangible Assets [Table Text Block]

Information regarding our intangible assets is as follows:



	2020				2019
March 31,	Gross Carrying Amount		Accumulated Amortization		Gross Carrying Amount		Accumulated Amortization
Customer relationships	$	614,162	$	227,581	$	623,774	$	189,752
Non-compete agreements	4,646		4,012		4,693		3,945
Patents and technology	259,101		145,457		226,520		126,149
Trademarks and tradenames	62,543		39,942		63,570		38,850
Supplier relationships	54,800		12,787		54,800		10,047
Total	$	995,252	$	429,779	$	973,357	$	368,743

Schedule of Goodwill [Table Text Block]

Changes to the carrying amount of goodwill for the years ended March 31, 2020 and 2019 were as follows:



	Healthcare Products Segment			Healthcare Specialty Services Segment			Life Sciences Segment			Applied Sterilization Technologies Segment			Total
Balance at March 31, 2018	404,674			388,025			148,816			1,492,269			2,433,784
Goodwill acquired or allocated	(1,202		)	(907		)	—			5,341			3,232
Foreign currency translation adjustments	(6,188		)	(12,208		)	(1,021		)	(94,671		)	(114,088		)
Balance at March 31, 2019	$	397,284		$	374,910		$	147,795		$	1,402,939		$	2,322,928
Goodwill acquired or allocated	65,222			1,364			—			7,945			74,531
Divestitures	—			(199		)	—			—			(199		)
Foreign currency translation adjustments	(3,499		)	(7,816		)	762			(30,622		)	(41,175		)
Balance at March 31, 2020	$	459,007		$	368,259		$	148,557		$	1,380,262		$	2,356,085

Schedule of Expected Amortization Expense

Based upon the current amount of intangible assets subject to amortization, the amortization expense for each of the five succeeding fiscal years is estimated to be as follows:



	2021		2022		2023		2024		2025
Estimated amortization expense	$	71,049	$	68,393	$	62,808	$	56,549	$	54,772

Inventories, Net (Tables)

12 Months Ended

Mar. 31, 2020

Schedule of Inventory, Current

Inventories, net consisted of the following:



March 31,	2020			2019
Raw materials	$	94,321		$	83,009
Work in process	35,643			30,694
Finished goods	151,381			131,051
LIFO reserve	(16,937		)	(16,757		)
Reserve for excess and obsolete inventory	(16,149		)	(19,754		)
Inventories, net	$	248,259		$	208,243

Property, Plant and Equipment (Tables)

12 Months Ended

Mar. 31, 2020

Schedule of Change in Asset Retirement Obligation [Table Text Block]

The following table summarizes the activity in the liability for asset retirement obligations.



	Asset Retirement Obligations
Balance at March 31, 2018	$	11,639
Liabilities incurred during the period	1,033
Accretion expense and change in estimate	385
Foreign currency and other	(671		)
Balance at March 31, 2019	$	12,386
Liabilities incurred during the period	94
Liabilities settled during the period	(168		)
Accretion expense and change in estimate	453
Foreign currency and other	(251		)
Balance at March 31, 2020	$	12,514

Property, Plant and Equipment

We generally depreciate or deplete property, plant, and equipment over the useful lives presented in the following table:



Asset Type		Useful Life (years)
Land improvements		3-40
Buildings and leasehold improvements		2-50
Machinery and equipment		2-20
Information Systems		2-20
Radioisotope (cobalt-60)		20

Information related to the major categories of our depreciable assets is as follows:



March 31,	2020			2019
Land and land improvements ⁽¹⁾	$	65,994		$	63,522
Buildings and leasehold improvements	531,267			480,359
Machinery and equipment	682,488			656,956
Information systems	181,112			169,711
Radioisotope	508,593			483,080
Construction in progress ⁽¹⁾	159,731			133,689
Total property, plant, and equipment	2,129,185			1,987,317
Less: accumulated depreciation and depletion	(1,017,330		)	(955,735		)
Property, plant, and equipment, net	$	1,111,855		$	1,031,582

⁽¹⁾ Land is not depreciated. Construction in progress is not depreciated until placed in service.

Debt (Tables)

12 Months Ended

Mar. 31, 2020

Senior Notes in Private Placement [Table Text Block]



	Applicable Note Purchase Agreement	Maturity Date	U.S. Dollar Value at March 31, 2020		U.S. Dollar Value at March 31, 2019
$35,000 Senior notes at 6.43%	2008 Private Placement	August 2020	35,000		35,000
$91,000 Senior notes at 3.20%	2012 Private Placement	December 2022	91,000		91,000
$80,000 Senior notes at 3.35%	2012 Private Placement	December 2024	80,000		80,000
$25,000 Senior notes at 3.55%	2012 Private Placement	December 2027	25,000		25,000
$125,000 Senior notes at 3.45%	2015 Private Placement	May 2025	125,000		125,000
$125,000 Senior notes at 3.55%	2015 Private Placement	May 2027	125,000		125,000
$100,000 Senior notes at 3.70%	2015 Private Placement	May 2030	100,000		100,000
$50,000 Senior notes at 3.93%	2017 Private Placement	February 2027	50,000		50,000
€60,000 Senior notes at 1.86%	2017 Private Placement	February 2027	66,342		67,352
$45,000 Senior notes at 4.03%	2017 Private Placement	February 2029	45,000		45,000
€20,000 Senior notes at 2.04%	2017 Private Placement	February 2029	22,114		22,450
£45,000 Senior notes at 3.04%	2017 Private Placement	February 2029	55,767		58,702
€19,000 Senior notes at 2.30%	2017 Private Placement	February 2032	21,008		21,328
£30,000 Senior notes at 3.17%	2017 Private Placement	February 2032	37,178		39,135
Total Senior Notes			$	878,409	$	884,967

Schedule of Maturities of Long-term Debt [Table Text Block]

The combined annual aggregate amount of maturities of our outstanding debt by fiscal year is as follows:



2021⁽¹⁾	$	35,000
2022	—
2023	366,449
2024	—
2025 and thereafter	752,409
Total	$	1,153,858

Schedule of Debt

Indebtedness as of March 31, 2020 and 2019 was as follows:



	2020			2019
Credit Agreement	$	275,449		$	301,846
Private Placement	878,409			884,967
Deferred financing fees	(3,337		)	(3,619		)
Other	—			33
Total long term debt	$	1,150,521		$	1,183,227

Additional Consolidated Balance Sheets Information (Tables)

12 Months Ended

Mar. 31, 2020

Schedule of Accrued Liabilities

Additional information related to our Consolidated Balance Sheet is as follows:



March 31,	2020		2019
Accrued payroll and other related liabilities:
Compensation and related items	$	42,205	$	37,251
Accrued vacation/paid time off	9,917		10,191
Accrued bonuses	53,041		40,194
Accrued employee commissions	19,298		17,854
Other post-retirement benefits obligations-current portion	1,488		1,633
Other employee benefit plans' obligations-current portion	2,312		1,935
Total accrued payroll and other related liabilities	$	128,261	$	109,058
Accrued expenses and other:
Deferred revenues	$	53,299	$	55,333
Service liabilities	47,505		42,101
Self-insured and related risk reserves-current portion	7,342		6,537
Accrued dealer commissions	15,827		15,283
Accrued warranty	7,381		7,194
Asset retirement obligation-current portion	2,671		2,656
Other	58,158		58,661
Total accrued expenses and other	$	192,183	$	187,765
Other liabilities:
Self-insured risk reserves-long-term portion	$	17,452	$	14,445
Other post-retirement benefits obligations-long-term portion	9,880		10,918
Defined benefit pension plans obligations-long-term portion	10,987		16,168
Other employee benefit plans obligations-long-term portion	2,333		4,711
Accrued long-term income taxes	11,959		13,515
Asset retirement obligation-long-term portion	9,843		9,730
Contingent consideration obligations- long term portion	15,358		5,950
Other	12,534		12,375
Total other liabilities	$	90,346	$	87,812

Income Tax Expense (Tables)

12 Months Ended

Mar. 31, 2020

Income Tax Expense [Abstract]

Schedule of Deferred Tax Assets and Liabilities

The significant components of the deferred tax assets and liabilities recorded in our accompanying balance sheets at March 31, 2020 and 2019 were as follows:



March 31,	2020			2019
Deferred Tax Assets:
Post-retirement benefit accrual	$	2,871		$	3,142
Compensation	12,560			14,275
Net operating loss carryforwards	16,149			19,195
Accrued expenses	5,490			4,858
Insurance	3,620			3,187
Deferred income	11,316			7,509
Bad debt	1,820			1,386
Pension	2,273			3,364
Operating leases ⁽¹⁾	28,945			—
Other	6,024			7,707
Deferred Tax Assets	91,068			64,623
Less: Valuation allowance	13,891			13,478
Total Deferred Tax Assets	77,177			51,145
Deferred Tax Liabilities:
Depreciation and depletion	68,179			61,060
Operating leases ⁽¹⁾	29,268			—
Intangibles	129,951			128,479
Other	2,078			2,197
Total Deferred Tax Liabilities	229,476			191,736
Net Deferred Tax Assets (Liabilities)	$	(152,299	)	$	(140,591	)

Schedule of Income before Income Tax, Domestic and Foreign

Income from continuing operations before income taxes was as follows:



Years Ended March 31,	2020		2019		2018
United States operations	$	325,522	$	235,405	$	203,872
Ireland operations	29,543		13,693		11,837
Other locations operations	143,616		120,372		139,273
	$	498,681	$	369,470	$	354,982

Schedule of Components of Income Tax Expense (Benefit)

The components of the provision for income taxes related to income from continuing operations consisted of the following:



Years Ended March 31,	2020			2019			2018
Current:
United States federal	$	42,032		$	29,943		$	47,728
United States state and local	9,971			12,484			7,727
Ireland	5,036			2,627			2,596
Other locations	24,600			26,824			26,742
	81,639			71,878			84,793
Deferred:
United States federal	10,073			5,775			(15,728		)
United States state and local	2,363			2,836			2,656
Ireland	(899		)	(546		)	(280		)
Other locations	(2,300		)	(15,549		)	(8,081		)
	9,237			(7,484		)	(21,433		)
Total Provision for Income Taxes	$	90,876		$	64,394		$	63,360

provision for taxes rate reconciliation

The total provision for income taxes can be reconciled to the tax computed at the Ireland statutory tax rate for 2020 and 2019, and the United Kingdom statutory rate for 2018 as follows:



Years Ended March 31,	2020		2019		2018
National statutory tax rate	12.5	%	12.5	%	19.0	%
Increase (decrease) in accruals for uncertain tax positions	(0.3	)%	—	%	0.1	%
U.S. state and local taxes, net of federal income tax benefit	2.0	%	3.1	%	2.3	%
Increase in valuation allowances	0.5	%	0.4	%	0.1	%
U.S. research and development credit	(0.5	)%	(0.6	)%	(0.5	)%
U.S. foreign income tax credit	(0.6	)%	(0.2	)%	(0.2	)%
Difference in non-Ireland tax rates	6.9	%	4.5	%	—	%
Difference in non-United Kingdom tax rates	—	%	—	%	4.1	%
U.S. manufacturing deduction	—	%	—	%	(0.8	)%
Excess tax benefit for equity compensation	(2.8	)%	(2.2	)%	(1.8	)%
Tax rate changes on deferred tax assets and liabilities	0.1	%	(0.6	)%	(10.3	)%
U.S. transition tax on foreign earnings	—	%	(0.3	)%	4.9	%
U.S. tax reform impact, GILTI and FDII	0.1	%	0.3	%	—	%
Acquisitions and divestitures	—	%	—	%	0.5	%
Capitalized acquisition, redomiciliation costs	0.1	%	0.5	%	—	%
All other, net	0.2	%	—	%	0.4	%
Total Provision for Income Taxes	18.2	%	17.4	%	17.8	%

Summary of Positions for which Significant Change in Unrecognized Tax Benefits is Reasonably Possible

A reconciliation of the beginning and ending balances of the total amounts of unrecognized tax benefits is as follows:



	2020			2019
Unrecognized Tax Benefits Balance at April 1	$	2,314		$	2,500
Increases for tax provisions of current year	176			178
Decreases for tax provisions of prior year	(1,570		)	(186		)
Other, including currency translation	(45		)	(178		)
Unrecognized Tax Benefits Balance at March 31	$	875		$	2,314

Benefit Plans (Tables)

12 Months Ended

Mar. 31, 2020

Schedule of Expected Benefit Payments

Based upon the actuarial assumptions utilized to develop our benefit obligations at March 31, 2020, the following benefit payments are expected to be made to plan participants:



	Other Defined Benefit Pension Plans		Other Post-Retirement Benefits Plan
2021	$	5,872	$	1,510
2022	6,025		1,392
2023	6,600		1,252
2024	6,336		1,115
2025	6,518		1,007
2026-2031	35,292		3,726

Schedule of Amounts Recognized in Other Comprehensive Income (Loss)

During fiscal 2021, we will amortize the following pre-tax amounts from accumulated other comprehensive income:



	Defined Benefit Pension Plans		Other Post-Retirement Benefits Plan
Actuarial loss	$	20	$	482
Prior Service Cost	69		(3,263		)

Schedule of Accrued Liabilities

Amounts recognized in the consolidated balance sheets consist of the following:



	Other Defined Benefit Pension Plans						Other Post-Retirement Benefits Plan
	2020			2019			2020			2019
Current liabilities	$	—		$	—		$	(1,488	)	$	(1,633	)
Noncurrent liabilities	(10,987		)	(16,168		)	(9,880		)	(10,918		)
	$	(10,987	)	$	(16,168	)	$	(11,368	)	$	(12,551	)

Schedule of Accumulated and Projected Benefit Obligations



	Other Defined Benefit Pension Plans
	2020		2019
Aggregate fair value of plan assets	$	112,203	$	117,504
Aggregate accumulated benefit obligations	120,084		130,669
Aggregate projected benefit obligations	123,190		132,672

Components of Net Periodic Benefits Cost and Other Amounts Recognized in Other Comprehensive Income [Table Text Block]

Components of the annual net periodic benefit cost of our defined benefit pension plans and our other post-retirement benefits plan were as follows:



	Other Defined Benefit Pension Plans									Other Post-Retirement Benefits Plan
	2020			2019			2018			2020			2019			2018
Service cost	$	1,380		$	2,394		$	2,402		$	—		$	—		$	—
Interest cost	2,876			3,139			3,262			409			457			519
Expected return on plan assets	(4,735		)	(4,930		)	(4,835		)	—			—			—
Prior service cost recognition	69			51			—			(3,263		)	(3,263		)	(3,263		)
Net amortization and deferral	9			474			126			482			552			648
Net periodic benefit (credit) cost	$	(401	)	$	1,128		$	955		$	(2,372	)	$	(2,254	)	$	(2,096	)
Recognized in other comprehensive loss (income) before tax:
Net loss (gain) occurring during year	$	890		$	(6,545	)	$	(697	)	$	(181	)	$	106		$	501
Amortization of prior service credit	(78		)	781			—			3,263			3,263			3,263
Amortization of net loss	—			(468		)	(126		)	(482		)	(552		)	(648		)
Total recognized in other comprehensive loss (income)	812			(6,232		)	(823		)	2,600			2,817			3,116
Total recognized in total benefits cost and other comprehensive loss (income)	$	411		$	(5,104	)	$	132		$	228		$	563		$	1,020

Schedule of Net Benefit Costs

The following table presents significant assumptions used to determine the net periodic benefit costs for the years ended March 31:



	2020		2019		2018
Discount Rate:
Synergy Health plc Retirement Benefits Scheme	2.50	%	2.50	%	2.60	%
Isotron BV Pension Plan	1.20	%	1.60	%	1.60	%
Synergy Health Daniken AG	0.20	%	0.95	%	0.65	%
Synergy Health Radeberg	1.60	%	1.60	%	1.50	%
Synergy Health Allershausen	1.75	%	1.60	%	1.50	%
Harwell Dosimeters Ltd Retirement Benefits Scheme	2.45	%	2.55	%	2.55	%
Other post-retirement plan	3.50	%	3.50	%	3.50	%
Expected Return on Plan Assets:
Synergy Health plc Retirement Benefits Scheme	4.80	%	5.02	%	4.97	%
Isotron BV Pension Plan	1.20	%	1.60	%	1.60	%
Synergy Health Daniken AG	0.65	%	1.20	%	1.40	%

Schedule of Assumptions Used

The following table presents significant assumptions used to determine the projected benefit obligations at March 31:



	2020		2019
Discount Rate:
Synergy Health plc Retirement Benefits Scheme	2.40	%	2.50	%
Isotron BV Pension Plan	1.60	%	1.20	%
Synergy Health Daniken AG	0.20	%	0.85	%
Synergy Health Radeberg	1.60	%	1.60	%
Synergy Health Allershausen	0.50	%	1.60	%
Harwell Dosimeters Ltd Retirement Benefits Scheme	2.45	%	2.35	%
Other post-retirement plan	3.00	%	3.50	%

Schedule of Health Care Cost Trend Rates

The assumed rates of increase generally decline ratably over a five-year period from the assumed current year healthcare cost trend rate to the assumed long-term healthcare cost trend rate noted below.



	2020		2019		2018
Healthcare cost trend rate – medical	6.75	%	6.75	%	7.00	%
Healthcare cost trend rate – prescription drug	6.75	%	6.75	%	7.00	%
Long-term healthcare cost trend rate	4.50	%	4.50	%	4.50	%

assumptions of other plan sponsors and national health trends, and adjustments for plan design changes, workforce changes, and changes in plan participant behavior.



	One-Percentage Point
	Increase		Decrease
Effect on total service and interest cost components	$	—	$	—
Effect on other post-retirement benefit obligation	7		(6		)

Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis

The fair value of our pension benefits plan assets at March 31, 2020 and 2019 by asset category is as follows:



	Fair Value Measurements at March 31, 2020
(In thousands)	Total		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Other Unobservable Inputs (Level 3)
Cash	$	302	$	302	$	—	$	—
Insured annuities	14,522		—		14,522		—
Insurance contracts	4,345		—		—		4,345
Common and collective trusts valued at net asset value:
Equity security trusts	47,187		—		—		—
Debt security trusts	45,847		—		—		—
Total Plan Assets	$	112,203	$	302	$	14,522	$	4,345



	Fair Value Measurements at March 31, 2019
(In thousands)	Total		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Other Unobservable Inputs (Level 3)
Cash	$	450	$	450	$	—	$	—
Insured annuities	14,720		—		14,720		—
Insurance contracts	5,089		—		—		5,089
Common and collective trusts valued at net asset value:
Equity security trusts	73,532		—		—		—
Debt security trusts	23,713		—		—		—
Total Plan Assets	$	117,504	$	450	$	14,720	$	5,089

Schedule of Defined Benefit Plans Disclosures



	Other Defined Benefit Pension Plans						Other Post-Retirement Benefits Plan
	2020			2019			2020			2019
Change in Benefit Obligations:
Benefit Obligations at Beginning of Year	$	133,672		$	148,848		$	12,551		$	14,100
Service cost	1,380			2,394			—			—
Prior service cost	—			831			—			—
Interest cost	2,955			3,255			408			457
Actuarial loss (gain)	(3,736		)	(4,402		)	181			(106		)
Benefits and expenses	(6,466		)	(6,150		)	(1,772		)	(1,900		)
Employee contributions	1,046			743			—			—
Impact of foreign currency exchange rate changes	(5,661		)	(11,847		)	—			—
Benefit Obligations at End of Year	123,190			133,672			11,368			12,551
Change in Plan Assets:
Fair Value of Plan Assets at Beginning of Year	117,504			119,441			—			—
Actual return on plan assets	228			6,543			—			—
Employer contributions	5,071			5,005			1,772			1,900
Employee contributions	1,045			742			—			—
Benefits and expenses paid	(6,466		)	(6,150		)	(1,772		)	(1,900		)
Impact of foreign currency exchange rate changes	(5,179		)	(8,077		)	—			—
Fair Value of Plan Assets at End of Year	112,203			117,504			—			—
Funded Status of the Plans	$	(10,987	)	$	(16,168	)	$	(11,368	)	$	(12,551	)

Schedule of Effect of Significant Unobservable Inputs, Changes in Plan Assets [Table Text Block]

The fair value measurement of plan assets using significant unobservable inputs (Level 3) changed during fiscal year 2020 due to the following:



	Insurance contracts
Balance at March 31, 2018	$	5,484
Gains (losses) related to assets still held at year-end	29
Transfers out of Level 3	(132		)
Foreign currency	(292		)
Balance at March 31, 2019	$	5,089
Gains (losses) related to assets still held at year-end	62
Transfers out of Level 3	(664		)
Foreign currency	(142		)
Balance at March 31, 2020	$	4,345

Contingencies lease tables (Tables)

12 Months Ended

Mar. 31, 2020

Leases [Abstract]

Lessee, Operating Lease, Disclosure [Table Text Block]

Supplemental cash flow information related to operating leases is as follows:



	Year Ended March 31, 2020
Cash paid for amounts included in the measurement of operating lease liabilities	$	27,613
Right-of-use assets obtained in exchange for operating lease obligations, net	$	44,636

Lessee, Operating Lease, Liability, Maturity [Table Text Block]

Maturities of lease liabilities at March 31, 2020 are as follows:



	March 31, 2020
2021	$	25,302
2022	21,064
2023	17,271
2024	14,045
2025 and thereafter	96,249
Total operating lease payments	173,931
Less imputed interest	40,008
Total operating lease liabilities	$	133,923

Supplemental information related to operating leases is as follows:



	March 31,
	2020
Weighted-average remaining lease term of operating leases	11.5 years

Weighted-average discount rate of operating leases	4.4	%



	March 31, 2019
2020	$	24,008
2021	18,567
2022	13,917
2023	11,929
2024 and thereafter	93,939
Total minimum lease payments	$	162,360

Business Segment Information (Tables)

12 Months Ended

Mar. 31, 2020

Schedule of Segment Reporting Information, by Segment



Years Ended March 31,	2020			2019			2018
Revenues:
Healthcare Products	$	1,423,198		$	1,338,428		$	1,276,054
Healthcare Specialty Services	563,611			510,057			469,065
Life Sciences	416,939			378,558			361,590
Applied Sterilization Technologies	627,147			555,127			513,287
Total revenues	$	3,030,895		$	2,782,170		$	2,619,996
Operating income (loss):
Healthcare Products	356,419			323,684			294,162
Healthcare Specialty Services	64,217			64,222			58,458
Life Sciences	144,088			132,129			123,889
Applied Sterilization Technologies	270,917			221,828			196,297
Total reportable segments	835,641			741,863			672,806
Corporate	(207,015		)	(184,900		)	(162,999		)
Total operating income before adjustments	$	628,626		$	556,963		$	509,807
Less: Adjustments
Amortization of acquired intangible assets ⁽¹⁾	71,675			86,878			67,793
Acquisition and integration related charges ⁽²⁾	8,225			8,901			16,211
Redomiciliation and tax restructuring costs ⁽³⁾	3,699			8,783			—
(Gain) on fair value adjustment of acquisition related contingent consideration ⁽¹⁾	—			(842		)	(593		)
Net loss (gain) on divestiture of businesses ⁽¹⁾	1,770			(1,370		)	14,547
Amortization of property "step up" to fair value ⁽¹⁾	2,392			2,440			1,599
Restructuring charges ⁽⁴⁾	3,143			40,708			103
Impact of the U.S. Tax Cuts and Jobs Act⁽⁵⁾	—			—			10,264
COVID-19 incremental costs⁽⁶⁾	749			—			—
Total operating income	$	536,973		$	411,465		$	399,883

Schedule of Revenue from External Customers Attributed to Foreign Countries by Geographic Area



March 31,	2020		2019
Property, Plant, and Equipment, Net
Ireland	$	47,459	$	41,137
United States	632,333		577,113
Other locations	432,063		413,332
Property, Plant, and Equipment, Net	$	1,111,855	$	1,031,582

Schedule of Revenue from External Customers and Long-Lived Assets, by Geographical Areas [Table Text Block]



Years Ended March 31,	2020		2019		2018
Revenues:
Ireland	$	63,821	$	56,784	$	48,246
United States	2,211,722		1,976,814		1,836,414
Other locations	755,352		748,572		735,336
Total Revenues	$	3,030,895	$	2,782,170	$	2,619,996

Revenue from External Customers by Products and Services [Table Text Block]



Years Ended March 31,	2020		2019		2018
Healthcare Products:
Capital equipment	$	592,436	568,811		527,402
Consumables	454,518		414,969		412,495
Service	376,244		354,648		336,157
Total Healthcare Products Revenues	$	1,423,198	$	1,338,428	$	1,276,054
Total Healthcare Specialty Services Revenues	$	563,611	$	510,057	$	469,065
Life Sciences:
Capital equipment	$	112,747	102,714		100,555
Consumables	185,904		161,780		150,656
Service	118,288		114,064		110,379
Total Life Sciences Revenues	$	416,939	$	378,558	$	361,590
Applied Sterilization Technologies Service Revenues	$	627,147	$	555,127	$	513,287
Total Revenues	$	3,030,895	$	2,782,170	$	2,619,996

Other Expense

Schedule of Segment Reporting Information, by Segment



Years Ended March 31,	2020		2019		2018
Capital Expenditures
Healthcare Products and Life Sciences	$	44,029	$	49,688	$	52,767
Healthcare Specialty Services	40,619		39,950		16,497
Applied Sterilization Technologies	129,868		100,077		96,193
Total Capital Expenditures	$	214,516	$	189,715	$	165,457
Depreciation, Depletion, and Amortization
Healthcare Products and Life Sciences ^{(1) (2)}	$	59,150	$	81,264	$	52,025
Healthcare Specialty Services	33,043		33,392		29,269
Applied Sterilization Technologies ⁽¹⁾	105,042		111,265		97,038
Total Depreciation, Depletion, and Amortization	$	197,235	$	225,921	$	178,332

Schedule of Segment Reporting Information, by Segment



March 31,	2020		2019
Assets:
Healthcare Products and Life Sciences	$	1,809,636	$	1,611,852
Healthcare Specialty Services	895,741		805,349
Applied Sterilization Technologies	2,720,205		2,655,870
Total assets	$	5,425,582	$	5,073,071

Common Shares (Tables)

12 Months Ended

Mar. 31, 2020

Schedule of Weighted Average Number of Shares [Table Text Block]



Years ended March 31,	2020	2019	2018
Denominator (shares in thousands):
Weighted average shares outstanding—basic	84,778	84,577	85,028
Dilutive effect of share equivalents	863	891	685
Weighted average shares outstanding and share equivalents—diluted	85,641	85,468	85,713

Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share [Table Text Block]



Years ended March 31,	2020	2019	2018
Number of ordinary share options (shares in thousands)	285	352	393

Share-Based Compensation (Tables)

12 Months Ended

Mar. 31, 2020

Share-based Payment Arrangement [Abstract]

Schedule of Assumptions Used

The following weighted-average assumptions were used for options granted during fiscal 2020, fiscal 2019 and fiscal 2018:



	Fiscal 2020		Fiscal 2019		Fiscal 2018
Risk-free interest rate	2.26	%	2.64	%	2.01	%
Expected life of options	6.2 years		6.2 years		5.7 years
Expected dividend yield of stock	1.22	%	1.47	%	1.58	%
Expected volatility of stock	20.27	%	19.91	%	22.08	%

Schedule of Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding

A summary of share option activity is as follows:



	Number of Options		Weighted Average Exercise Price		Average Remaining Contractual Term	Aggregate Intrinsic Value
Outstanding at March 31, 2019	2,104,685		$	72.82
Granted	345,138		147.22
Exercised	(613,086	)	57.29
Forfeited	(40,611	)	122.61
Outstanding at March 31, 2020	1,796,126		$	91.29	6.8 years	$	89,800
Exercisable at March 31, 2020	922,708		$	69.52	5.6 years	$	65,136

Schedule of Share-based Compensation, Restricted Stock and Restricted Stock Units Activity

A summary of the non-vested restricted share activity is presented below:



	Number of Restricted Shares		Number of Restricted Share Units		Weighted-Average Grant Date Fair Value
Non-vested at March 31, 2019	676,373		33,219		$	80.86
Granted	156,901		14,553		135.86
Vested	(221,606	)	(14,999	)	74.63
Forfeited	(35,838	)	(1,879	)	93.56
Non-vested at March 31, 2020	575,830		30,894		$	98.07

Financial and Other Guarantees (Tables)

12 Months Ended

Mar. 31, 2020

Schedule of Guarantor Obligations

Changes in our warranty liability during the periods presented are as follows:



Years Ended March 31,	2020			2019			2018
Balance, Beginning of Year	$	7,194		$	6,872		$	6,861
Warranties issued during the period	12,311			11,177			12,305
Settlements made during the period	(12,124		)	(10,855		)	(12,294		)
Balance, End of Year	$	7,381		$	7,194		$	6,872

Forward and Swap Contracts (Tables)

12 Months Ended

Mar. 31, 2020

Schedule of Derivative Instruments in Statement of Financial Position, Fair Value



	Asset Derivatives				Liability Derivatives
	Fair Value at		Fair Value at		Fair Value at		Fair Value at
Balance Sheet Location	March 31, 2020		March 31, 2019		March 31, 2020		March 31, 2019
Prepaid & Other	$	124	$	552	$	—	$	—
Accrued expenses and other	$	—	$	—	$	912	$	278

Schedule of Derivative Instruments, Gain (Loss) in Statement of Financial Performance

The following table presents the impact of derivative instruments and their location within the Consolidated Statements of Income:



	Location of (loss) gain recognized in income	Amount of (loss) gain recognized in income
		Years Ended March 31,
		2020			2019		2018
Foreign currency forward contracts	Selling, general and administrative	$	798		$	235	$	(1,357	)
Commodity swap contracts	Cost of revenues	$	(660	)	$	434	$	373

Fair Value Measurements (Tables)

12 Months Ended

Mar. 31, 2020

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Fair Value, Measurement Inputs, Disclosure [Table Text Block]

The following table shows the fair value of our financial assets and liabilities at March 31, 2020 and March 31, 2019:



					Fair Value Measurements
At March 31,	Carrying Value				Quoted Prices in Active Markets for Identical Assets				Significant Other Observable Inputs				Significant Unobservable Inputs
					Level 1				Level 2				Level 3
	2020		2019		2020		2019		2020		2019		2020		2019
Assets:
Cash and cash equivalents	$	319,581	$	220,633	$	319,581	$	220,633	$	—	$	—	$	—	$	—
Forward and swap contracts ⁽¹⁾	124		552		—		—		124		552		—		—
Equity investments ⁽²⁾	9,624		13,873		9,624		13,873		—		—		—		—
Other investments	2,507		2,545		2,507		2,545		—		—		—		—
Liabilities:
Forward and swap contracts ⁽¹⁾	$	912	$	278	$	—	$	—	$	912	$	278	$	—	$	—
Deferred compensation plans ⁽²⁾	1,475		1,564		1,475		1,564		—		—		—		—
Long term debt ⁽³⁾	1,150,521		1,183,227		—		—		1,143,978		1,200,558		—		—
Contingent consideration obligations ⁽⁴⁾	15,988		5,950		—		—		—		—		15,988		5,950

⁽³⁾We estimate the fair value of our long-term debt using discounted cash flow analyses, based on our current incremental borrowing rates for similar types of borrowing arrangements.

Fair Value, by Balance Sheet Grouping [Table Text Block]

The changes in Level 3 assets and liabilities measured at fair value on a recurring basis are summarized as follows:



	Contingent Consideration
Balance at March 31, 2018	$	8,068
Payments	(691		)
Reductions and adjustments	(1,466		)
Foreign currency translation adjustments	39
Balance at March 31, 2019	$	5,950
Additions	9,907
Foreign currency translation adjustments	131
Balance at March 31, 2020	$	15,988

- Definition

Tabular disclosure of financial instruments measured at fair value, including those classified in shareholders' equity measured on a recurring or nonrecurring basis. Disclosures include, but are not limited to, fair value measurements recorded and the reasons for the measurements, level within the fair value hierarchy in which the fair value measurements are categorized and transfers between levels 1 and 2. Nonrecurring fair value measurements are those that are required or permitted in the statement of financial position in particular circumstances.

+ References + Details

Quarterly Results (Unaudited) (Tables)

12 Months Ended

Mar. 31, 2020

Quarterly Financial Information Disclosure [Abstract]

Effect of Fourth Quarter Events [Table Text Block]



Quarters Ended	March 31,			December 31,			September 30,			June 30,
Fiscal 2020
Revenues:
Product	$	393,592		$	363,795		$	337,666		$	307,735
Service	429,399			410,466			399,174			389,068
Total Revenues	822,991			774,261			736,840			696,803
Cost of Revenues:
Product	210,538			195,105			183,600			160,959
Service	248,393			247,803			234,573			230,001
Total Cost of Revenues	458,931			442,908			418,173			390,960
Gross Profit	364,060			331,353			318,667			305,843
Percentage of Revenues	44.2		%	42.8		%	43.2		%	43.9		%
Restructuring Expenses	6			(448		)	(274		)	1,389
Net Income Attributable to Shareholders	$	123,316		$	104,930		$	94,769		$	84,590
Basic Income Per Ordinary Share Attributable to Shareholders:
Net income	$	1.45		$	1.24		$	1.12		$	1.00
Diluted Income Per Ordinary Share Attributable to Shareholders:
Net income	$	1.44		$	1.23		$	1.11		$	0.99

Fiscal 2019
Revenues:
Product	$	374,937		$	327,639		$	314,659		$	278,790
Service	393,276			368,599			364,302			359,968
Total Revenues	768,213			696,238			678,961			638,758
Cost of Revenues:
Product	201,357			182,229			172,107			146,602
Service	232,140			227,012			222,190			223,106
Total Cost of Revenues	433,497			409,241			394,297			369,708
Gross Profit	334,716			286,997			284,664			269,050
Percentage of Revenues	43.6		%	41.2		%	41.9		%	42.1		%
Restructuring Expenses	4,840			26,147			—			—
Net Income Attributable to Shareholders	$	108,745		$	47,858		$	77,457		$	69,991
Basic Income Per Ordinary Share Attributable to Shareholders:
Net income	$	1.29		$	0.57		$	0.92		$	0.83
Diluted Income Per Ordinary Share Attributable to Shareholders:
Net income	$	1.27		$	0.56		$	0.91		$	0.82

Nature of Operations and Summary of Siginificant Accounting Policies (Details) - USD ($)
$ in Thousands

3 Months Ended

12 Months Ended

Jun. 30, 2019

Mar. 31, 2020

Mar. 31, 2019

Mar. 31, 2018

Apr. 01, 2018

Deferred Revenue, Revenue Recognized

$ 48,602

$ 30,169

Percentage of LIFO Inventory

Mar. 31, 2020

25.30%

25.20%

FIFO Inventory Amount

$ 16,937

$ 16,757

Interest Costs, Capitalized During Period

428

495

Interest Costs Incurred

40,279

45,015

$ 50,629

Interest Paid, Including Capitalized Interest, Operating and Investing Activities

38,021

44,118

48,663

Income Taxes Paid, Net

92,462

64,668

85,629

Advertising Expense

12,652

10,691

10,886

Proceeds from Income Tax Refunds

4,378

2,189

$ 7,747

Revenue, Remaining Performance Obligation, Amount

$ 940,000

New Accounting Pronouncement or Change in Accounting Principle, Effect of Adoption, Quantification

(5,637)

Property, Plant and Equipment, Other Types [Member]

20 years

Minimum [Member]

Finite-Lived Intangible Assets, Useful Life, Minimum

5 years

Minimum [Member] | Land Improvements [Member]

Minimum [Member] | Building [Member]

3 years

Minimum [Member] | Machinery and Equipment [Member]

2 years

Minimum [Member] | Computer Equipment [Member]

2 years

2 years

Maximum [Member]

Finite-Lived Intangible Assets, Useful Life, Minimum

20 years

Maximum [Member] | Land Improvements [Member]

Maximum [Member] | Building [Member]

40 years

Maximum [Member] | Machinery and Equipment [Member]

50 years

Maximum [Member] | Computer Equipment [Member]

20 years

20 years

Assets [Member]

New Accounting Pronouncement or Change in Accounting Principle, Effect of Adoption, Quantification

$ 120,562

Equity [Member]

Cumulative Effect of New Accounting Principle in Period of Adoption

$ 5,637

Liability [Member]

New Accounting Pronouncement or Change in Accounting Principle, Effect of Adoption, Quantification

$ 120,562

Expected recognition within the next year [Member]

Revenue, Remaining Performance Obligation, Percentage

49.00%

Expected recognition beyond the next year [Member] [Member]

Revenue, Remaining Performance Obligation, Percentage

45.00%

Accounting Standards Update 2016-01 [Member]

New Accounting Pronouncement or Change in Accounting Principle, Effect of Adoption, Quantification

^[1]

$ (1,970)

[1]

As a result of the adoption of ASC 2016-01 we recorded a cumulative effect adjustment to our opening fiscal 2019 retained earnings balance that increased retained earnings and decreased accumulated other comprehensive income. See Note 1 titled, "Nature of Operations and Summary of Significant Accounting Policies" for further details.

Restructuring (Details)
$ in Thousands

12 Months Ended

Mar. 31, 2020

USD ($)

plan

Mar. 31, 2019

USD ($)

Mar. 31, 2018

USD ($)

Restructuring and Related Cost, Expected Number of Positions Eliminated | plan

200

Restructuring expense incurred since Plan inception

$ 43,851

Restructuring Reserve

1,017

$ 6,131

$ 0

Restructuring Reserve, Accrual Adjustment

1,837

10,481

^[1]

Payments for Restructuring

6,951

(4,350)

^[1]

Accelerated depreciation and amortization

673

30,987

103

16,194

Cost of Sales [Member]

Restructuring expense incurred since Plan inception

12,191

Operating Expense [Member]

Restructuring expense incurred since Plan inception

31,660

Contract Termination [Member]

Restructuring Reserve, Accrual Adjustment

Restructuring Reserve

2,029

283

4,830

^[1]

Payments for Restructuring

2,292

2,801

Employee Severance [Member]

283

4,830

Restructuring Reserve, Accrual Adjustment

Restructuring Reserve

997

4,102

$ 0

1,554

5,651

^[1]

Payments for Restructuring

4,659

1,549

Product Rationalization [Member]

1,554

5,651

Accelerated depreciation and amortization [Member]

^[2]

2,470

9,721

Asset impairment charges [Member]

(1,164)

Restructuring Costs and Asset Impairment Charges

$ 4,312

Healthcare Products [Member]

Restructuring expense incurred since Plan inception

31,162

Healthcare Specialty Services [Member]

Restructuring expense incurred since Plan inception

2,518

Life Science Member [Member]

Restructuring expense incurred since Plan inception

668

Applied Sterilization Technologies [Member]

Restructuring expense incurred since Plan inception

7,798

Corporate, Non-Segment [Member]

Restructuring expense incurred since Plan inception

$ 1,705

[1]	(1) Certain amounts reported include the impact of foreign currency movements relative to the U.S. dollar.
[2]	Recorded in cost of revenues on the Consolidated Statements of Income.

Business Acquisitions and Divestitures Business Acquisitions and Divestitures Narrative (Details)
€ in Thousands, $ in Thousands

3 Months Ended

12 Months Ended

Mar. 31, 2020

USD ($)

Dec. 31, 2019

USD ($)

Sep. 30, 2019

USD ($)

Jun. 30, 2019

USD ($)

Mar. 31, 2019

USD ($)

Dec. 31, 2018

USD ($)

Sep. 30, 2018

USD ($)

Jun. 30, 2018

USD ($)

Mar. 31, 2020

USD ($)

Mar. 31, 2019

USD ($)

Mar. 31, 2018

USD ($)

Mar. 31, 2020

EUR (€)

Oct. 31, 2019

EUR (€)

Mar. 31, 2019

EUR (€)

Mar. 31, 2017

EUR (€)

Business Combination, Contingent Consideration, Liability

$ 15,988

$ 5,950

$ 15,988

$ 5,950

$ 8,068

Deferred consideration business acquisition

893

Amortization of Intangible Assets

74,528

98,747

70,195

Business Combination, Acquisition Related Costs

822,991

$ 774,261

$ 736,840

$ 696,803

768,213

$ 696,238

$ 678,961

$ 638,758

3,030,895

2,782,170

2,619,996

^[1]

$ 8,225

8,901

16,211

Mar. 31, 2020

$ 536,973

411,465

399,883

439

2,478

8,888

1,770

(1,370)

^[2]

14,547

^[2]

Investment Owned, at Cost

4.00%

$ 4,955

Line of Credit Provided to Investee

$ 10,000

Series of Individually Immaterial Business Acquisitions [Member]

Business Combination, Contingent Consideration, Liability

9,830

5,018

Approximate purchase price of entity

120,537

13,313

120,537

13,313

52,292

HCS China Divestiture [Domain]

Dutch Linen Loan [Domain]

5,000

Other Loan Receivable | €

€ 15,000

Financing Receivable, after Allowance for Credit Loss

8,072

8,494

8,072

8,494

€ 7,300

€ 7,550

Other Receivables | €

€ 7,300

Equity Investee Loan [Domain]

Interest Rate First Four Years

7 years

Financing Receivable, after Allowance for Credit Loss

$ 7,084

$ 7,465

7,084

$ 7,465

Years 5-6,8% Int Rate [Member] [Member]

Years 1-4, 4% Int Rate [Member]

8.00%

Years 5-15, 12% Int Rate [Member]

4.00%

12.00%

China HCS [Member]

$ 2,365

HCS [Member]

40,000

8,891

$ 12,972

[1]	Acquisition and integration related charges include transaction costs and integration expenses associated with acquisitions.
[2]	For more information regarding our recent acquisitions and divestitures see Note 18 titled, "Business Acquisitions and Divestitures". Amortization of purchased intangible assets fiscal 2019 total includes an impairment charge of $16,249, see Note 3 titled, "Goodwill and Intangible Assets", for more information.

Business Acquisitions and Divestitures Synergy Acquisition (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Mar. 31, 2019	Mar. 31, 2018
Business Acquisition [Line Items]
Goodwill	$ 2,356,085	$ 2,322,928	$ 2,433,784

Business Acquisitions and Divestitures Business Acquisition Summary (Details) - USD ($)
$ in Thousands

9 Months Ended

12 Months Ended

Dec. 31, 2019

Mar. 31, 2020

Mar. 31, 2019

Mar. 31, 2018

Mar. 31, 2017

Business Combination, Acquisition Related Costs

$ 439

$ 2,478

$ 8,888

^[1]

8,225

8,901

16,211

Operating Lease, Right-of-Use Asset

(1,770)

1,370

^[2]

(14,547)

^[2]

131,837

Dutch Linen Loan [Domain]

2,356,085

2,322,928

2,433,784

Interest Rate Period

4 years

15 years

HCS [Member]

8,891

Series of Individually Immaterial Business Acquisitions [Member]

(12,972)

Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Cash and Equivalents

8,811

^[3]

235

Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets, Receivables

10,331

^[3]

750

1,464

Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Inventory

8,999

^[3]

2,289

Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Property, Plant, and Equipment

9,241

^[3]

2,004

3,381

Operating Lease, Right-of-Use Asset

4,462

^[3]

Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets, Other

1,133

^[3]

479

126

Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill

36,500

^[3]

4,070

17,404

Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets

74,531

^[3]

6,614

32,384

154,008

^[3]

13,968

57,283

Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Liabilities

(20,659)

^[3]

(146)

(2,077)

Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Noncurrent Liabilities

(4,000)

^[3]

(509)

(2,679)

Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities

(24,659)

^[3]

(655)

(4,756)

Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net

$ 129,349

^[3]

$ 13,313

$ 52,527

[1]	Acquisition and integration related charges include transaction costs and integration expenses associated with acquisitions.
[2]	For more information regarding our recent acquisitions and divestitures see Note 18 titled, "Business Acquisitions and Divestitures". Amortization of purchased intangible assets fiscal 2019 total includes an impairment charge of $16,249, see Note 3 titled, "Goodwill and Intangible Assets", for more information.
[3]	⁽¹⁾Purchase price allocation is still preliminary as of March 31, 2020, as valuations have not been finalized.

Goodwill and Intangible Assets Narrative (Details) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Dec. 31, 2018	Mar. 31, 2020	Mar. 31, 2019	Mar. 31, 2018
Goodwill [Line Items]
Indefinite-lived Intangible Assets (Excluding Goodwill)		$ 14,250	$ 13,000
Asset Impairment Charges	$ 16,249
Goodwill		2,356,085	2,322,928	$ 2,433,784
Finite-Lived Intangible Assets, Amortization Expense		74,528	98,747	70,195
Finite-Lived Intangible Assets, Gross		995,252	973,357
Finite-Lived Intangible Assets, Accumulated Amortization		429,779	368,743
goodwill acquired or allocated member
Goodwill [Line Items]
Goodwill, Acquired During Period		74,531	3,232
Healthcare Specialty Services [Member]
Goodwill [Line Items]
Goodwill		368,259	374,910	388,025
Healthcare Specialty Services [Member] \| goodwill acquired or allocated member
Goodwill [Line Items]
Goodwill, Acquired During Period		1,364	(907)
Life Science Member [Member]
Goodwill [Line Items]
Goodwill		148,557	147,795	148,816
Life Science Member [Member] \| goodwill acquired or allocated member
Goodwill [Line Items]
Goodwill, Acquired During Period		0	0
Applied Sterilization Technologies [Member]
Goodwill [Line Items]
Goodwill		1,380,262	1,402,939	1,492,269
Applied Sterilization Technologies [Member] \| goodwill acquired or allocated member
Goodwill [Line Items]
Goodwill, Acquired During Period		7,945	5,341
Healthcare Products [Member]
Goodwill [Line Items]
Goodwill		459,007	397,284	$ 404,674
Healthcare Products [Member] \| goodwill acquired or allocated member
Goodwill [Line Items]
Goodwill, Acquired During Period		65,222	(1,202)
Trademarks and Trade Names [Member]
Goodwill [Line Items]
Finite-Lived Intangible Assets, Gross		62,543	63,570
Finite-Lived Intangible Assets, Accumulated Amortization		$ 39,942	$ 38,850

Goodwill and Intangible Assets Goodwill Rollforward (Details) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Mar. 31, 2018
Goodwill [Line Items]
Goodwill	$ 2,356,085	$ 2,322,928	$ 2,433,784
Goodwill, Other Increase (Decrease)	(199)
goodwill acquired or allocated member [Member]
Goodwill [Line Items]
Goodwill, Acquired During Period	74,531	3,232
Foreign Currency Gain (Loss) [Member]
Goodwill [Line Items]
Goodwill, Foreign Currency Translation Gain (Loss)	(41,175)	(114,088)
Healthcare Specialty Services [Member]
Goodwill [Line Items]
Goodwill	368,259	374,910	388,025
Goodwill, Other Increase (Decrease)	(199)
Healthcare Specialty Services [Member] \| goodwill acquired or allocated member [Member]
Goodwill [Line Items]
Goodwill, Acquired During Period	1,364	(907)
Healthcare Specialty Services [Member] \| Foreign Currency Gain (Loss) [Member]
Goodwill [Line Items]
Goodwill, Foreign Currency Translation Gain (Loss)	(7,816)	(12,208)
Life Science Member [Member]
Goodwill [Line Items]
Goodwill	148,557	147,795	148,816
Life Science Member [Member] \| goodwill acquired or allocated member [Member]
Goodwill [Line Items]
Goodwill, Acquired During Period	0	0
Life Science Member [Member] \| Foreign Currency Gain (Loss) [Member]
Goodwill [Line Items]
Goodwill, Foreign Currency Translation Gain (Loss)	762	(1,021)
Healthcare Products [Member]
Goodwill [Line Items]
Goodwill	459,007	397,284	404,674
Healthcare Products [Member] \| goodwill acquired or allocated member [Member]
Goodwill [Line Items]
Goodwill, Acquired During Period	65,222	(1,202)
Healthcare Products [Member] \| Foreign Currency Gain (Loss) [Member]
Goodwill [Line Items]
Goodwill, Foreign Currency Translation Gain (Loss)	(3,499)	(6,188)
Applied Sterilization Technologies [Member]
Goodwill [Line Items]
Goodwill	1,380,262	1,402,939	$ 1,492,269
Applied Sterilization Technologies [Member] \| goodwill acquired or allocated member [Member]
Goodwill [Line Items]
Goodwill, Acquired During Period	7,945	5,341
Applied Sterilization Technologies [Member] \| Foreign Currency Gain (Loss) [Member]
Goodwill [Line Items]
Goodwill, Foreign Currency Translation Gain (Loss)	$ (30,622)	$ (94,671)

Goodwill and Intangible Assets Other Intangible Assets (Details) - USD ($) $ in Thousands	9 Months Ended
	Dec. 31, 2018	Mar. 31, 2020	Mar. 31, 2019
Summary of Finite-Lived and Indefinite-Lived Intangible Assets [Line Items]
Asset Impairment Charges	$ 16,249
Finite-Lived Intangible Assets, Gross		$ 995,252	$ 973,357
Finite-Lived Intangible Assets, Accumulated Amortization		429,779	368,743
Customer Relationships [Member]
Summary of Finite-Lived and Indefinite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Assets, Gross		614,162	623,774
Finite-Lived Intangible Assets, Accumulated Amortization		227,581	189,752
Noncompete Agreements [Member]
Summary of Finite-Lived and Indefinite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Assets, Gross		4,646	4,693
Finite-Lived Intangible Assets, Accumulated Amortization		4,012	3,945
Patented Technology [Member]
Summary of Finite-Lived and Indefinite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Assets, Gross		259,101	226,520
Finite-Lived Intangible Assets, Accumulated Amortization		145,457	126,149
Trademarks and Trade Names [Member]
Summary of Finite-Lived and Indefinite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Assets, Gross		62,543	63,570
Finite-Lived Intangible Assets, Accumulated Amortization		39,942	38,850
supplier relationships [Member]
Summary of Finite-Lived and Indefinite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Assets, Gross		54,800	54,800
Finite-Lived Intangible Assets, Accumulated Amortization		$ 12,787	$ 10,047

Goodwill and Intangible Assets Future Amortization of Intangible Assets (Details) $ in Thousands	Mar. 31, 2020 USD ($)
Other Intangible Assets [Abstract]
Finite-Lived Intangible Assets, Amortization Expense, Next Twelve Months	$ 71,049
Finite-Lived Intangible Assets, Amortization Expense, Year Two	68,393
Finite-Lived Intangible Assets, Amortization Expense, Year Three	62,808
Finite-Lived Intangible Assets, Amortization Expense, Year Four	56,549
Finite-Lived Intangible Assets, Amortization Expense, Year Five	$ 54,772

Inventories, Net (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Mar. 31, 2019	Mar. 31, 2018	Mar. 31, 2017
Notes To Financial Statements [Abstract]
Inventory, Raw Materials	$ 94,321	$ 83,009
Inventory, Work in Process	35,643	30,694
Inventory, Finished Goods	151,381	131,051
Inventory, LIFO Reserve	(16,937)	(16,757)
Inventory Valuation Reserves	(16,149)	(19,754)	$ (19,639)	$ (17,854)
Inventories, net	$ 248,259	$ 208,243

Property, Plant and Equipment (Details) - USD ($)
$ in Thousands

12 Months Ended

Mar. 31, 2020

Mar. 31, 2019

Mar. 31, 2018

Property, Plant and Equipment [Line Items]

Asset Retirement Obligation

Mar. 31, 2020

$ 12,514

$ 12,386

$ 11,639

Asset Retirement Obligation, Liabilities Incurred

1,033

Asset Retirement Obligation, Liabilities Settled

(168)

Asset Retirement Obligation, Accretion Expense

453

385

Asset Retirement Obligation, Foreign Currency Translation Gain (Loss)

(251)

(671)

Land

^[1]

65,994

63,522

Buildings and Improvements, Gross

531,267

480,359

Machinery and Equipment, Gross

682,488

656,956

Capitalized Computer Software, Gross

181,112

169,711

Materials, Supplies, and Other

508,593

483,080

Construction in Progress, Gross

^[1]

159,731

133,689

Property, Plant and Equipment, Gross

2,129,185

1,987,317

Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment

(1,017,330)

(955,735)

Operating Leases, Future Minimum Payments Due, Current

1,111,855

1,031,582

Depreciation

$ 122,707

127,174

$ 108,137

24,008

Operating Leases, Future Minimum Payments, Due Thereafter

93,939

Operating Leases, Future Minimum Payments Due

$ 162,360

[1]	Land is not depreciated. Construction in progress is not depreciated until placed in service.

Debt (Details)
€ in Thousands, £ in Thousands, $ in Thousands

3 Months Ended

12 Months Ended

Jun. 30, 2015

USD ($)

Mar. 31, 2017

Mar. 31, 2020

USD ($)

Mar. 31, 2019

USD ($)

Feb. 27, 2017

GBP (£)

Feb. 27, 2017

USD ($)

Feb. 27, 2017

EUR (€)

Long-term Debt, Current Maturities

Senior Notes

$ 350,000

$ 878,409

$ 884,967

^[1]

35,000

Line of Credit Facility, Maximum Borrowing Capacity

1,000,000

Deferred Finance Costs, Own-share Lending Arrangement, Issuance Costs, Net

(3,337)

(3,619)

Other Long-term Debt, Noncurrent

Line of Credit Facility, Amount Outstanding

275,449

301,846

Long-term Debt

1,153,858

Long-term Debt

1,150,521

$ 1,183,227

Long-term Debt, Maturities, Repayments of Principal in Year Two

Long-term Debt, Maturities, Repayments of Principal in Year Three

366,449

Long-term Debt, Maturities, Repayments of Principal in Year Four

Long-term Debt, Maturities, Repayments of Principal after Year Five

752,409

10 year maturity

Debt Instrument, Term

10 years

12 year maturity

Debt Instrument, Term

10 years

15 year maturity

Debt Instrument, Maturity Date, Description

Debt Instrument, Term

15 years

P15Y

Revolving Credit Facility [Member]

Line of Credit Facility, Maximum Borrowing Capacity

$ 500,000

United States of America, Dollars

Senior Notes

$ 95,000

United Kingdom, Pounds

Euro Member Countries, Euro

Senior Notes | £

£ 75,000

Senior Notes | €

€ 99,000

[1]	This amount represents a senior note that matures in August 2020. In accordance with ASU 470-10-45, we have presented the note as a long-term liability based on our intention to refinance the note on a long-term basis under our credit facility

Debt 2017 Senior Notes (Details) € in Thousands, £ in Thousands	Mar. 31, 2020 GBP (£)	Mar. 31, 2020 USD ($)	Mar. 31, 2020 EUR (€)	Mar. 31, 2019 USD ($)
Debt Instrument [Line Items]
Long-term Debt		$ 1,150,521,000		$ 1,183,227,000
STE 6.93% due 2020 Senior Notes [Member] [Domain]
Debt Instrument [Line Items]
Debt Instrument, Face Amount		$ 35,000,000		35,000,000
Debt Instrument, Interest Rate, Stated Percentage	6.43%	6.43%	6.43%
STE 3.70% due 2030 Senior Notes [Member] [Domain]
Debt Instrument [Line Items]
Debt Instrument, Face Amount		$ 100,000,000
Debt Instrument, Interest Rate, Stated Percentage	3.70%	3.70%	3.70%
STE 3.70% due 2022 Senior Notes [Member] [Domain]
Debt Instrument [Line Items]
Debt Instrument, Face Amount		$ 91,000,000		91,000,000
Debt Instrument, Interest Rate, Stated Percentage	3.20%	3.20%	3.20%
STE 3.85% due 2024 Senior Notes [Member] [Domain]
Debt Instrument [Line Items]
Debt Instrument, Face Amount		$ 80,000,000		80,000,000
Debt Instrument, Interest Rate, Stated Percentage	3.35%	3.35%	3.35%
STE 4.05% due 2027 Senior Notes [Member] [Domain]
Debt Instrument [Line Items]
Debt Instrument, Face Amount		$ 25,000,000		25,000,000
Debt Instrument, Interest Rate, Stated Percentage	3.55%	3.55%	3.55%
STE 3.45% due 2025 Senior Notes [Member] [Domain] [Domain]
Debt Instrument [Line Items]
Debt Instrument, Face Amount		$ 125,000,000		125,000,000
Debt Instrument, Interest Rate, Stated Percentage	3.45%	3.45%	3.45%
STE 3.55% due 2027 Senior Notes [Member] [Domain]
Debt Instrument [Line Items]
Debt Instrument, Face Amount		$ 125,000,000		125,000,000
Debt Instrument, Interest Rate, Stated Percentage	3.55%	3.55%	3.55%
STE 3.70% due 2030 Senior Notes [Member] [Domain] [Domain] [Domain]
Debt Instrument [Line Items]
Debt Instrument, Face Amount		$ 100,000,000		100,000,000
STE 3.93% due 2027 Senior Notes [Member]
Debt Instrument [Line Items]
Debt Instrument, Face Amount		$ 50,000,000		50,000,000
Debt Instrument, Interest Rate, Stated Percentage	3.93%	3.93%	3.93%
STE 1.86% due 2027 Senior Notes [Member]
Debt Instrument [Line Items]
Debt Instrument, Face Amount		$ 66,342,000	€ 60,000	67,352,000
Debt Instrument, Interest Rate, Stated Percentage	1.86%	1.86%	1.86%
STE 4.03% due 2029 Senior Notes [Member]
Debt Instrument [Line Items]
Debt Instrument, Face Amount		$ 45,000,000		45,000,000
Debt Instrument, Interest Rate, Stated Percentage	4.03%	4.03%	4.03%
STE 2.04% due 2029 Senior Notes [Member]
Debt Instrument [Line Items]
Debt Instrument, Face Amount		$ 22,114,000	€ 20,000	22,450,000
Debt Instrument, Interest Rate, Stated Percentage	2.04%	2.04%	2.04%
STE 3.04% due 2029 Senior Notes [Member]
Debt Instrument [Line Items]
Debt Instrument, Face Amount	£ 45,000	$ 55,767,000		58,702,000
Debt Instrument, Interest Rate, Stated Percentage	3.04%	3.04%	3.04%
STE 2.30% due 2032 Senior Notes [Member]
Debt Instrument [Line Items]
Debt Instrument, Face Amount		$ 21,008,000	€ 19,000	21,328,000
Debt Instrument, Interest Rate, Stated Percentage	2.30%	2.30%	2.30%
STE 3.17% due 2032 Senior Notes [Member]
Debt Instrument [Line Items]
Debt Instrument, Face Amount	£ 30,000	$ 37,178,000		39,135,000
Debt Instrument, Interest Rate, Stated Percentage	3.17%	3.17%	3.17%
Senior Notes [Member]
Debt Instrument [Line Items]
Long-term Debt		$ 878,409,000		$ 884,967,000

Additional Consolidated Balance Sheets Information (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Mar. 31, 2019	Mar. 31, 2018	Mar. 31, 2017
Notes To Financial Statements [Abstract]
Employee-related Liabilities	$ 42,205	$ 37,251
Accrued Vacation	9,917	10,191
Accrued Bonuses	53,041	40,194
Accrued Liabilities for Commissions, Expense and Taxes	19,298	17,854
Liability, Other Retirement Benefits	1,488	1,633
Liability, Retirement and Postemployment Benefits	2,312	1,935
Employee-related Liabilities, Current	128,261	109,058
Deferred Revenue	53,299	55,333
Service liabilities	47,505	42,101
Self Insurance Reserve, Current	7,342	6,537
Accrued Sales Commission	15,827	15,283
Standard and Extended Product Warranty Accrual	7,381	7,194	$ 6,872	$ 6,861
Asset Retirement Obligation, Current	2,671	2,656
Other Accrued Liabilities	58,158	58,661
Accrued Liabilities	192,183	187,765
Self Insurance Reserve, Noncurrent	17,452	14,445
Liability, Other Retirement Benefits, Noncurrent	9,880	10,918
Liability, Defined Benefit Pension Plan, Noncurrent	10,987	16,168
Liability, Pension and Other Postretirement and Postemployment Benefits, Noncurrent	2,333	4,711
Accrued Income Taxes, Noncurrent	11,959	13,515
Asset Retirement Obligations, Noncurrent	9,843	9,730
Business Combination, Contingent Consideration, Asset, Noncurrent	15,358	5,950
Other Liabilities	12,534	12,375
Other Liabilities, Noncurrent	$ 90,346	$ 87,812

Income Tax Expense (Details) $ / shares in Units, $ in Thousands	12 Months Ended
	Mar. 31, 2020 USD ($) $ / shares	Mar. 31, 2019 USD ($)	Mar. 31, 2018 USD ($)	Mar. 31, 2017 USD ($)
Operating Loss Carryforwards [Line Items]
TCJA Effective U.S. Federal Tax Rate	0.210
Income Tax Examination, Penalties and Interest Accrued	$ 243	$ 360
Unrecognized Tax Benefits that Would Impact Effective Tax Rate	1,118
Uncertain Tax Liability Resulting From IRS Notice	40,000
Deferred Tax Assets, Tax Credit Carryforwards	2,547
Deferred Tax Assets, Tax Deferred Expense, Compensation and Benefits, Postretirement Benefits	$ 2,871	$ 3,142
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate	12.50%	12.50%	19.00%
Current Federal Tax Expense (Benefit)	$ 5,036	$ 2,627	$ 2,596
Income (Loss) from Continuing Operations before Income Taxes, Domestic	$ 29,543	$ 13,693	$ 11,837
Effective Income Tax Rate, Continuing Operations	18.20%	17.40%	17.80%
Unrecognized Tax Benefits	$ 875	$ 2,314	$ 2,500
Income (Loss) from Continuing Operations before Equity Method Investments, Income Taxes, Noncontrolling Interest	498,681	369,470	354,982
Current State and Local Tax Expense (Benefit)	9,971	12,484	7,727
Current Income Tax Expense (Benefit)	81,639	71,878	84,793
Deferred Federal Income Tax Expense (Benefit)	(899)	(546)	(280)
Deferred State and Local Income Tax Expense (Benefit)	2,363	2,836	2,656
Increase (Decrease) in Deferred Income Taxes	9,237	(7,484)	(21,433)
Income Tax Expense (Benefit)	$ 90,876	$ 64,394	$ 63,360
Effective Income Tax Rate Reconciliation, State and Local Income Taxes	2.00%	3.10%	2.30%
Effective Income Tax Rate Reconciliation, Change in Deferred Tax Assets Valuation Allowance, Percent	0.50%	0.40%	0.10%
Effective Tax Rate Reconciliation, Increase (decrease) in Valuation Allowances	(0.30%)	0.00%	0.10%
Effective Income Tax Rate Reconciliation, Tax Credit, Research, Percent	(0.50%)	(0.60%)	(0.50%)
Effective Income Tax Rate Reconciliation, Tax Credits, Foreign	(0.60%)	(0.20%)	(0.20%)
Effective Income Tax Rate Reconciliation, Foreign Income Tax Rate Differential	6.90%	4.50%	0.00%
Effective Tax Rate Reconciliation, UK Tax Rate Differential	0.00%	0.00%	4.10%
Effective Income Tax Rate Reconciliation, Deductions, Qualified Production Activities	0.00%	0.00%	(0.80%)
Effective Income Tax Rate Reconciliation, Tax Expense (Benefit), Share-based Payment Arrangement, Percent	(2.80%)	(2.20%)	(1.80%)
Effective Tax Reconciliation, deferred tax assets and liabilities	0.10%	(0.60%)	(10.30%)
Change in Effective Income Tax US Transition tax	0.00%	(0.30%)	4.90%
U.S. tax reform impact GILTI and FDII	0.10%	0.30%	0.00%
Effective Tax Rate Reconciliation, acquisitions and divestitures	0.00%	0.00%	0.50%
Capitalized Interest Costs- Effective tax rate	0.10%	0.50%	0.00%
Effective Income Tax Rate Reconciliation, Other Adjustments	0.20%	0.00%	0.40%
Unrecognized Tax Benefits, Increases Resulting from Current Period Tax Positions	$ 176	$ 178
Unrecognized Tax Benefits, Decrease Resulting from Current Period Tax Positions	(1,570)	(186)
Unrecognized Tax Benefits, Decrease Resulting from Foreign Currency Translation	(45)	(178)
Deferred Tax Assets, Tax Deferred Expense, Compensation and Benefits	12,560	14,275
Deferred Tax Assets, Operating Loss Carryforwards	10,942
Deferred Tax Assets, Tax Deferred Expense, Reserves and Accruals, Accrued Liabilities	5,490	4,858
Deferred Tax Assets, Tax Deferred Expense, Reserves and Accruals, Self Insurance	3,620	3,187
Deferred Tax Assets, Deferred Income	11,316	7,509
Deferred Tax Assets, Tax Deferred Expense, Reserves and Accruals, Allowance for Doubtful Accounts	1,820	1,386
Deferred Tax Assets, Tax Deferred Expense, Compensation and Benefits, Pensions	2,273	3,364
Deferred Tax Assets, Operating leases	28,945	0
Deferred Tax Liabilities, Leasing Arrangements	29,268	0
Deferred Tax Assets, Other	6,024	7,707
Deferred Tax Assets, Gross, Current	91,068	64,623
Deferred Tax Assets, Valuation Allowance	13,891	13,478	$ 13,596	$ 16,366
Deferred Tax Assets, Net of Valuation Allowance	77,177	51,145
Deferred Tax Liabilities, Property, Plant and Equipment	68,179	61,060
Deferred Tax Liabilities, Goodwill and Intangible Assets, Intangible Assets	129,951	128,479
Deferred Tax and Other Liabilities, Noncurrent	2,078	2,197
Deferred tax liabilities, net of deferred tax assets	229,476	191,736
Deferred Tax Liabilities	(152,299)	(140,591)
Deferred Tax Assets, Operating Loss Carryforwards, Foreign	41,450
Deferred Tax Assets, Operating Loss Carryforwards, State and Local	2,042
Valuation Allowance, Deferred Tax Asset, Change in Amount	413
Deferred Tax Assets, Operating Loss Carryforwards	16,149	19,195
Undistributed Earnings of Foreign Subsidiaries	1,600,000
Costa Rica Exempt thorugh 2025 and partially exempt through 2029 [Member]
Operating Loss Carryforwards [Line Items]
Income Tax Holiday, Aggregate Dollar Amount	$ 1,900
Income Tax Holiday, Income Tax Benefits Per Share \| $ / shares	$ 0.02
UNITED STATES
Operating Loss Carryforwards [Line Items]
Income (Loss) from Continuing Operations before Income Taxes, Foreign	$ 325,522	235,405	203,872
Current Foreign Tax Expense (Benefit)	42,032	29,943	47,728
Deferred Foreign Income Tax Expense (Benefit)	10,073	5,775	(15,728)
Other Foreign Entities [Member]
Operating Loss Carryforwards [Line Items]
Income (Loss) from Continuing Operations before Income Taxes, Foreign	143,616	120,372	139,273
Current Foreign Tax Expense (Benefit)	24,600	26,824	26,742
Deferred Foreign Income Tax Expense (Benefit)	(2,300)	$ (15,549)	$ (8,081)
Maximum [Member]
Operating Loss Carryforwards [Line Items]
Tax Cuts and Jobs Act, Incomplete Accounting, Provisional Income Tax Expense (Benefit)	$ 15,000

Benefit Plans (Change in benefit obligations funded status) (Details) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Mar. 31, 2018
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Foreign Currency Translation Gain (Loss)	$ (142)	$ (292)
Defined benefit plan repayment of obligation [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Expected Future Benefit Payment, Next Twelve Months	3,839
Other Postretirement Benefit Plans, Defined Benefit
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Expected Future Benefit Payment, Next Twelve Months	1,510
Defined Benefit Plan, Benefit Obligation	11,368	12,551	$ 14,100
Defined Benefit Plan, Service Cost	0	0	0
Defined Benefit Plan, Amortization of Prior Service Cost (Credit)	0	0
Defined benefit plan, change in benefit obligation, interest cost	408	457
Defined Benefit Plan, Actuarial Net (Gains) Losses	181	(106)
Defined Benefit Plan, Benefit Obligation, Benefits Paid	1,772	1,900
Defined Benefit Plan, Benefit Obligation, Contributions by Plan Participant	0	0
Defined Benefit Plan, Benefits Paid (Deprecated 2017-01-31)	(1,772)	(1,900)
Defined Benefit Plan, Plan Assets, Contributions by Plan Participant	0	0
Defined Benefit Plan, Plan Assets, Amount	0	0	0
Defined Benefit Plan, Plan Assets, Increase (Decrease) for Actual Return (Loss)	0	0
Defined Benefit Plan, Plan Assets, Contributions by Employer	1,772	1,900
Defined Benefit Plan, Funded (Unfunded) Status of Plan	(11,368)	(12,551)
Defined Benefit Plan, Plan Assets, Foreign Currency Translation Gain (Loss)	0	0
Defined Benefit Plan, Benefit Obligation, Foreign Currency Translation Gain (Loss)	0	0
Other Defined Benefit Pension Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Expected Future Benefit Payment, Next Twelve Months	5,872
Defined Benefit Plan, Benefit Obligation	123,190	133,672	148,848
Defined Benefit Plan, Service Cost	1,380	2,394	2,402
Defined Benefit Plan, Amortization of Prior Service Cost (Credit)	0	831
Defined benefit plan, change in benefit obligation, interest cost	2,955	3,255
Defined Benefit Plan, Actuarial Net (Gains) Losses	(3,736)	(4,402)
Defined Benefit Plan, Benefit Obligation, Benefits Paid	6,466	6,150
Defined Benefit Plan, Benefit Obligation, Contributions by Plan Participant	1,046	743
Defined Benefit Plan, Benefits Paid (Deprecated 2017-01-31)	(6,466)	(6,150)
Defined Benefit Plan, Plan Assets, Contributions by Plan Participant	1,045	742
Defined Benefit Plan, Plan Assets, Amount	112,203	117,504	$ 119,441
Defined Benefit Plan, Plan Assets, Increase (Decrease) for Actual Return (Loss)	228	6,543
Defined Benefit Plan, Plan Assets, Contributions by Employer	5,071	5,005
Defined Benefit Plan, Funded (Unfunded) Status of Plan	(10,987)	(16,168)
Defined Benefit Plan, Plan Assets, Foreign Currency Translation Gain (Loss)	(5,179)	(8,077)
Defined Benefit Plan, Benefit Obligation, Foreign Currency Translation Gain (Loss)	$ (5,661)	$ (11,847)

Benefit Plans (Amounts recognized in balance sheets) (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Mar. 31, 2019
Other Postretirement Benefit Plans, Defined Benefit
Defined Benefit Plan Disclosure [Line Items]
Liability, Defined Benefit Plan, Current	$ (1,488)	$ (1,633)
Liability, Defined Benefit Plan, Noncurrent	(9,880)	(10,918)
Liability, Defined Benefit Pension Plan	(11,368)	(12,551)
Other Defined Benefit Pension Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Liability, Defined Benefit Plan, Current	0	0
Liability, Defined Benefit Plan, Noncurrent	(10,987)	(16,168)
Liability, Defined Benefit Pension Plan	$ (10,987)	$ (16,168)

Benefit Plans (Amortize pre-tax amount AOCI) (Details) $ in Thousands	12 Months Ended
	Mar. 31, 2020 USD ($)
Defined Benefit Plan Disclosure [Line Items]
Other Comprehensive Income (Loss), Defined Benefit Plan, Gain (Loss) Arising During Period, before Tax	$ 14,405
Defined Benefit Plan, Accumulated Other Comprehensive (Income) Loss, before Tax	7,463
Other Pension Plans, Defined Benefit [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Amortization of Prior Service Cost (Credit)	$ (3,263)

Benefit Plans (Accumulated benefit obligation exceeding the fair value of plan assets) (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Mar. 31, 2019	Mar. 31, 2018	Sep. 30, 2008
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Accumulated Benefit Obligation				$ 46,001
Other Defined Benefit Pension Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	$ 112,203	$ 117,504	$ 119,441
Defined Benefit Plan, Accumulated Benefit Obligation	120,084	130,669
defined benefit plans, aggregate projected benefit obligation	$ 123,190	$ 132,672

Benefit Plans (Projected benefit obligation exceeding the fair value of plan assets) (Details) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Mar. 31, 2018	Sep. 30, 2008
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Accumulated Benefit Obligation				$ 46,001
Other Defined Benefit Pension Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Benefit Obligation	$ 123,190	$ 133,672	$ 148,848
Defined Benefit Plan, Plan Assets, Amount	112,203	117,504	119,441
Defined Benefit Plan, Accumulated Benefit Obligation	120,084	130,669
Defined Benefit Plan, Service Cost	1,380	2,394	2,402
Defined Benefit Plan, Amortization of Prior Service Cost (Credit)	69	51	0
Defined Benefit Plan, Interest Cost	2,876	3,139	3,262
Defined Benefit Plan, Actuarial Net (Gains) Losses	(3,736)	(4,402)
Defined Benefit Plan, Benefit Obligation, Benefits Paid	6,466	6,150
Defined Benefit Plan, Benefit Obligation, Contributions by Plan Participant	1,046	743
Defined Benefit Plan, Benefit Obligation, Foreign Currency Translation Gain (Loss)	(5,661)	(11,847)
Defined Benefit Plan, Plan Assets, Increase (Decrease) for Actual Return (Loss)	228	6,543
Defined Benefit Plan, Plan Assets, Contributions by Employer	5,071	5,005
Defined Benefit Plan, Plan Assets, Contributions by Plan Participant	1,045	742
Defined Benefit Plan, Plan Assets, Benefits Paid	6,466	6,150
Defined Benefit Plan, Funded (Unfunded) Status of Plan	(10,987)	(16,168)
Other Postretirement Benefit Plans, Defined Benefit
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Benefit Obligation	11,368	12,551	14,100
Defined Benefit Plan, Plan Assets, Amount	0	0	0
Defined Benefit Plan, Service Cost	0	0	0
Defined Benefit Plan, Amortization of Prior Service Cost (Credit)	(3,263)	(3,263)	(3,263)
Defined Benefit Plan, Interest Cost	409	457	$ 519
Defined Benefit Plan, Actuarial Net (Gains) Losses	181	(106)
Defined Benefit Plan, Benefit Obligation, Benefits Paid	1,772	1,900
Defined Benefit Plan, Benefit Obligation, Contributions by Plan Participant	0	0
Defined Benefit Plan, Benefit Obligation, Foreign Currency Translation Gain (Loss)	0	0
Defined Benefit Plan, Plan Assets, Increase (Decrease) for Actual Return (Loss)	0	0
Defined Benefit Plan, Plan Assets, Contributions by Employer	1,772	1,900
Defined Benefit Plan, Plan Assets, Contributions by Plan Participant	0	0
Defined Benefit Plan, Plan Assets, Benefits Paid	1,772	1,900
Defined Benefit Plan, Funded (Unfunded) Status of Plan	$ (11,368)	$ (12,551)

Benefit Plans (Components of the annual net periodic benefit cost) (Details) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Mar. 31, 2018
Defined Benefit Plan Disclosure [Line Items]
Other Comprehensive Income (Loss), Defined Benefit Plan, Gain (Loss) Arising During Period, before Tax	$ 14,405
Other Postretirement Benefit Plans, Defined Benefit
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Benefit Obligation, Actuarial Gain (Loss)	181	$ (106)
Defined Benefit Plan, Service Cost	0	0	$ 0
Defined Benefit Plan, Interest Cost	409	457	519
Defined Benefit Plan, Expected Return (Loss) on Plan Assets	0	0	0
Defined Benefit Plan, Amortization of Prior Service Cost (Credit)	(3,263)	(3,263)	(3,263)
Defined Benefit Plan, Net Periodic Benefit Cost (Credit)	(2,372)	(2,254)	(2,096)
Defined Benefit Plan, Net Periodic Benefit Cost (Credit), Gain (Loss) Due to Settlement and Curtailment	482	552	648
Other Comprehensive Income (Loss), Defined Benefit Plan, Gain (Loss) Arising During Period, before Tax	(181)	106	501
Defined Benefit Plan, Amortization of Net Prior Service Cost (Credit)	3,263	3,263	3,263
Defined Benefit Plan, Amortization of Net Gains (Losses)	(482)	(552)	(648)
Other Comprehensive Income (Loss), Pension and Other Postretirement Benefit Plans, Adjustment, before Tax	2,600	2,817	3,116
Defined Benefit Plan, Amounts Recognized in Other Comprehensive Income (Loss), Net Gain (Loss), before Tax	228	563	1,020
Other Defined Benefit Pension Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Benefit Obligation, Actuarial Gain (Loss)	(3,736)	(4,402)
Defined Benefit Plan, Service Cost	1,380	2,394	2,402
Defined Benefit Plan, Interest Cost	2,876	3,139	3,262
Defined Benefit Plan, Expected Return (Loss) on Plan Assets	(4,735)	(4,930)	(4,835)
Defined Benefit Plan, Amortization of Prior Service Cost (Credit)	69	51	0
Defined Benefit Plan, Net Periodic Benefit Cost (Credit)	(401)	1,128	955
Defined Benefit Plan, Net Periodic Benefit Cost (Credit), Gain (Loss) Due to Settlement and Curtailment	9	474	126
Other Comprehensive Income (Loss), Defined Benefit Plan, Gain (Loss) Arising During Period, before Tax	890	(6,545)	(697)
Defined Benefit Plan, Amortization of Net Prior Service Cost (Credit)	(78)	781	0
Defined Benefit Plan, Amortization of Net Gains (Losses)	0	(468)	(126)
Other Comprehensive Income (Loss), Pension and Other Postretirement Benefit Plans, Adjustment, before Tax	812	(6,232)	(823)
Defined Benefit Plan, Amounts Recognized in Other Comprehensive Income (Loss), Net Gain (Loss), before Tax	411	$ (5,104)	$ 132
Amortization of prior service cost next fiscal year	69
Other Pension Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
Amortization of prior service cost next fiscal year	$ (3,263)

Benefit Plans (Assumptions used in calculating benefit obligations and net periodic benefit cost) (Details)	12 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Mar. 31, 2018
Synergy Health PLC Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Assumptions Used Calculating Benefit Obligation, Discount Rate	2.40%	2.50%
Defined Benefit Plan, Assumptions Used Calculating Net Periodic Benefit Cost, Expected Long-term Rate of Return on Plan Assets	4.80%	5.02%	4.97%
Isotron [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Assumptions Used Calculating Benefit Obligation, Discount Rate	1.60%	1.20%
Defined Benefit Plan, Assumptions Used Calculating Net Periodic Benefit Cost, Expected Long-term Rate of Return on Plan Assets	1.20%	1.60%	1.60%
Daniken [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Assumptions Used Calculating Benefit Obligation, Discount Rate	0.20%	0.85%
Defined Benefit Plan, Assumptions Used Calculating Net Periodic Benefit Cost, Expected Long-term Rate of Return on Plan Assets	0.65%	1.20%	1.40%
Radeberg [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Assumptions Used Calculating Benefit Obligation, Discount Rate	1.60%	1.60%
Allershausen [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Assumptions Used Calculating Benefit Obligation, Discount Rate	0.50%	1.60%
Harwell Dosimeters [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Assumptions Used Calculating Benefit Obligation, Discount Rate	2.45%	2.35%
Other Pension Plans, Defined Benefit [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Assumptions Used Calculating Benefit Obligation, Discount Rate	3.00%	3.50%

Benefit Plans (Significant assumptions used to determine the net periodic benefit costs) (Details) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Mar. 31, 2018
Other Defined Benefit Pension Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Benefit Obligation, Actuarial Gain (Loss)	$ 20
Amortization of prior service cost next fiscal year	$ 69
Synergy Health PLC Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Assumptions Used Calculating Net Periodic Benefit Cost, Discount Rate	2.50%	2.50%	2.60%
Defined Benefit Plan, Assumptions Used Calculating Net Periodic Benefit Cost, Expected Long-term Rate of Return on Plan Assets	4.80%	5.02%	4.97%
Isotron [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Assumptions Used Calculating Net Periodic Benefit Cost, Discount Rate	1.20%	1.60%	1.60%
Defined Benefit Plan, Assumptions Used Calculating Net Periodic Benefit Cost, Expected Long-term Rate of Return on Plan Assets	1.20%	1.60%	1.60%
Daniken [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Assumptions Used Calculating Net Periodic Benefit Cost, Discount Rate	0.20%	0.95%	0.65%
Defined Benefit Plan, Assumptions Used Calculating Net Periodic Benefit Cost, Expected Long-term Rate of Return on Plan Assets	0.65%	1.20%	1.40%
Radeberg [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Assumptions Used Calculating Net Periodic Benefit Cost, Discount Rate	1.60%	1.60%	1.50%
Allershausen [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Assumptions Used Calculating Net Periodic Benefit Cost, Discount Rate	1.75%	1.60%	1.50%
Harwell Dosimeters [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Assumptions Used Calculating Net Periodic Benefit Cost, Discount Rate	2.45%	2.55%	2.55%
Other Post-Retirement Benefit Plans, Net
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Assumptions Used Calculating Net Periodic Benefit Cost, Discount Rate	3.50%	3.50%	3.50%
Other Pension Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Benefit Obligation, Actuarial Gain (Loss)	$ 482
Amortization of prior service cost next fiscal year	$ (3,263)

Benefit Plans (Assumed long-term healthcare cost trend rate) (Details)	Mar. 31, 2020	Mar. 31, 2019	Mar. 31, 2018
Postemployment Benefits [Abstract]
Healthcare cost trend rate medical	6.75%	6.75%	7.00%
Healthcare prescription drug	6.75%	6.75%	7.00%
Defined Benefit Plan, Ultimate Health Care Cost Trend Rate	4.50%	4.50%	4.50%

Benefit Plans (Effect of one-percentage-point change in assumed healthcare cost trend rates) (Details) $ in Thousands	12 Months Ended
	Mar. 31, 2020 USD ($)
Postemployment Benefits [Abstract]
Defined Benefit Plan, Effect of One Percentage Point Increase on Service and Interest Cost Components	$ 0
Defined Benefit Plan, Effect of One Percentage Point Decrease on Service and Interest Cost Components	0
Defined Benefit Plan, Effect of One Percentage Point Increase on Accumulated Postretirement Benefit Obligation	7
Defined Benefit Plan, Effect of One Percentage Point Decrease on Accumulated Postretirement Benefit Obligation	$ (6)

Benefit Plans (Targeted asset allocation of plan assets and the actual allocation of plan assets) (Details)	Mar. 31, 2020
Equity Securities
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Target Allocation, Percentage	75.00%
Debt Securities
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Target Allocation, Percentage	25.00%

Benefit Plans (Fair value of our pension benefits plan assets) (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Mar. 31, 2019	Mar. 31, 2018
Defined Benefit Plan Disclosure [Line Items]
Other Investments	$ 4,345	$ 5,089	$ 5,484
Fair Value, Inputs, Level 1
Defined Benefit Plan Disclosure [Line Items]
Cash and Cash Equivalents, Fair Value Disclosure	319,581	220,633
Fair Value, Inputs, Level 2
Defined Benefit Plan Disclosure [Line Items]
Cash and Cash Equivalents, Fair Value Disclosure	0	0
Fair Value, Inputs, Level 3
Defined Benefit Plan Disclosure [Line Items]
Cash and Cash Equivalents, Fair Value Disclosure	0	0
Other Defined Benefit Pension Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Insurance Contract	4,345	5,089
Cash and Cash Equivalents, Fair Value Disclosure	302	450
Other Investments	14,522	14,720
Equity Securities, FV-NI	47,187	73,532
Defined Benefit Plan, Plan Assets, Amount	112,203	117,504	$ 119,441
Debt Securities, Trading	45,847	23,713
Other Defined Benefit Pension Plans [Member] \| Fair Value, Inputs, Level 1
Defined Benefit Plan Disclosure [Line Items]
Insurance Contract	0	0
Cash and Cash Equivalents, Fair Value Disclosure	302	450
Other Investments	0	0
Defined Benefit Plan, Plan Assets, Amount	302	450
Other Defined Benefit Pension Plans [Member] \| Fair Value, Inputs, Level 2
Defined Benefit Plan Disclosure [Line Items]
Insurance Contract	0	0
Cash and Cash Equivalents, Fair Value Disclosure	0	0
Other Investments	14,522	14,720
Defined Benefit Plan, Plan Assets, Amount	14,522	14,720
Other Defined Benefit Pension Plans [Member] \| Fair Value, Inputs, Level 3
Defined Benefit Plan Disclosure [Line Items]
Insurance Contract	4,345	5,089
Cash and Cash Equivalents, Fair Value Disclosure	0	0
Other Investments	0	0
Defined Benefit Plan, Plan Assets, Amount	$ 4,345	$ 5,089

Benefit Plans (Expected payments to be made to plan participants) (Details) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Mar. 31, 2018
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Gross Prescription Drug Subsidy Receipts Received (Deprecated 2017-01-31)	$ 708	$ 706
Other Defined Benefit Pension Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Benefit Obligation, Actuarial Gain (Loss)	(3,736)	(4,402)
Defined Benefit Plan, Expected Future Benefit Payment, Next Twelve Months	5,872
Defined Benefit Plan, Expected Future Benefit Payments in Year Two	6,025
Defined Benefit Plan, Expected Future Benefit Payments in Year Three	6,600
Defined Benefit Plan, Expected Future Benefit Payments in Year Four	6,336
Defined Benefit Plan, Expected Future Benefit Payments in Year Five	6,518
Defined Benefit Plan, Expected Future Benefit Payments in Five Fiscal Years Thereafter	35,292
Defined Benefit Plan, Amortization of Prior Service Cost (Credit)	69	51	$ 0
Other Postretirement Benefit Plans, Defined Benefit
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Benefit Obligation, Actuarial Gain (Loss)	181	(106)
Defined Benefit Plan, Expected Future Benefit Payment, Next Twelve Months	1,510
Defined Benefit Plan, Expected Future Benefit Payments in Year Two	1,392
Defined Benefit Plan, Expected Future Benefit Payments in Year Three	1,252
Defined Benefit Plan, Expected Future Benefit Payments in Year Four	1,115
Defined Benefit Plan, Expected Future Benefit Payments in Year Five	1,007
Defined Benefit Plan, Expected Future Benefit Payments in Five Fiscal Years Thereafter	3,726
Defined Benefit Plan, Amortization of Prior Service Cost (Credit)	$ (3,263)	$ (3,263)	$ (3,263)

Benefit Plans (Details Textual) - USD ($) $ in Thousands	12 Months Ended
Benefit Plans (Details Textual) - USD ($) $ in Thousands	Mar. 31, 2020	Mar. 31, 2019	Mar. 31, 2018
Defined Contribution Plan, Employer Discretionary Contribution Amount	$ 27,818	$ 25,935	$ 24,037
Defined Contribution Plan, Fair Value of Plan Assets	$ 668,960
STERIS Corporation shares held in defined contribution plan	555,080
Fair value of STERIS Corporatio stock held in defined contribution plan	$ 77,695
Defined Contribution Plan, Dividends Paid	855	826	$ 781
Deferred Compensation Plan Assets	$ 1,273	$ 1,400
Equity Securities [Member]
Defined Benefit Plan, Plan Assets, Target Allocation, Percentage	75.00%
Debt Securities
Defined Benefit Plan, Plan Assets, Target Allocation, Percentage	25.00%

Benefit Plans Benefit Plans (Rollforward of Level 3 assets) (Details) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Mar. 31, 2018
Defined Benefit Plan Disclosure [Line Items]
Other Investments	$ 4,345	$ 5,089	$ 5,484
Defined Benefit Plan, Plan Assets Level 3 Reconciliation, Period Increase (Decrease)	62	29
Defined Benefit Plan, Plan Assets, Foreign Currency Translation Gain (Loss)	(142)	(292)
Fair Value, Inputs, Level 3 [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets Level 3 Reconciliation, Increase (Decrease) for Assets Transferred into (out of) Level 3	$ (664)	$ (132)

Contingencies (Details) - USD ($) $ in Thousands	12 Months Ended
Contingencies (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Mar. 31, 2019
Loss Contingencies [Line Items]
Operating Lease, Weighted Average Remaining Lease Term	11 years 6 months
Operating Lease, Payments	$ 27,613
Fixed Operating Lease Expense	28,252
Operating Leases, Future Minimum Payments Due, Next Twelve Months		$ 24,008
Commitments and Contingencies
Letters of credit as security for self insurance risk and retention policies	12,474	7,794
Purchase Commitment, Remaining Minimum Amount Committed	63,054
Operating Leases, Future Minimum Payments, Due Thereafter		93,939
Operating Leases, Future Minimum Payments Due		162,360
Variable Operating Lease Expense	5,449
Operating Lease, Expense	33,701
Right-of-Use Asset Obtained in Exchange for Operating Lease Liability	44,636
Lessee, Operating Lease, Liability, Payments, Due Year Two	25,302
Lessee, Operating Lease, Liability, Payments, Due Year Two	21,064
Lessee, Operating Lease, Liability, Payments, Due Year Three	17,271
Lessee, Operating Lease, Liability, Payments, Due Year Five	14,045
Lessee, Operating Lease, Liability, Payments, Due after Year Five	96,249
Lessee, Operating Lease, Liability, Payments, Due	173,931
Lessee, Operating Lease, Liability, Undiscounted Excess Amount	$ 40,008
Operating Lease, Weighted Average Discount Rate, Percent	4.40%
Operating Lease, Liability	$ 133,923
Operating Leases, Future Minimum Payments Receivable, in Two Years		18,567
Operating Leases, Future Minimum Payments Receivable, in Three Years		13,917
Operating Leases, Future Minimum Payments Receivable, in Four Years		11,929
Commercial commitments [Member]
Loss Contingencies [Line Items]
Commitments and Contingencies	80,230	$ 73,765
Long term Construction Contracts [Member] [Member]
Loss Contingencies [Line Items]
Commitments and Contingencies	$ 91,077

Business Segment Information (Details) - USD ($)
$ in Thousands

3 Months Ended

9 Months Ended

12 Months Ended

Mar. 31, 2020

Dec. 31, 2019

Sep. 30, 2019

Jun. 30, 2019

Mar. 31, 2019

Dec. 31, 2018

Sep. 30, 2018

Jun. 30, 2018

Dec. 31, 2018

Mar. 31, 2020

Mar. 31, 2019

Mar. 31, 2018

amortization of inventory and property step up to fair value

Asset Impairment Charges

$ 16,249

^[1]

$ 2,392

$ 2,440

$ 1,599

amortization and impairment of acquired intangible assets

^[1]

71,675

86,878

67,793

Business Combination, Acquisition Related Costs

^[2]

8,225

8,901

16,211

loss (gain) on fair value contingent consideration adjustments

^[1]

(842)

(593)

Impact of TCJA on Operating Income

1,770

(1,370)

^[1]

14,547

^[1]

^[3]

10,264

COVID-19 incremental costs

749

^[4]

redomiciliation costs

^[5]

3,699

8,783

^[6]

3,143

40,708

103

$ 5,425,582

$ 5,073,071

5,425,582

5,073,071

214,516

189,715

165,457

197,235

225,921

178,332

1,111,855

1,031,582

1,111,855

1,031,582

822,991

$ 774,261

$ 736,840

$ 696,803

768,213

$ 696,238

$ 678,961

$ 638,758

3,030,895

2,782,170

2,619,996

Applied Sterilization Technologies [Member]

536,973

411,465

399,883

2,720,205

2,655,870

2,720,205

2,655,870

129,868

100,077

96,193

105,042

^[7]

111,265

^[7]

97,038

627,147

555,127

513,287

Life Science Member [Member]

270,917

221,828

196,297

416,939

378,558

361,590

Life Science Member [Member] | Consumable revenues [Member]

144,088

132,129

123,889

Life Science Member [Member] | Capital equipment revenues [Member]

185,904

161,780

150,656

Life Science Member [Member] | Service revenues [Member]

112,747

102,714

100,555

OperatingSegmentAllExceptCorpandOther [Member]

118,288

114,064

110,379

3,030,895

2,782,170

2,619,996

OperatingSegmentCorpandOther [Member]

835,641

741,863

672,806

OperatingSegmentAll [Member]

(207,015)

(184,900)

(162,999)

3,030,895

2,782,170

2,619,996

Healthcare and Life Sciences [Member]

628,626

556,963

509,807

1,809,636

1,611,852

1,809,636

1,611,852

44,029

49,688

52,767

Healthcare Specialty Services [Member]

59,150

^[7]

81,264

^[7],[8]

52,025

895,741

805,349

895,741

805,349

40,619

39,950

16,497

33,043

33,392

29,269

563,611

510,057

469,065

Healthcare Products [Member]

64,217

64,222

58,458

1,423,198

1,338,428

1,276,054

Healthcare Products [Member] | Consumable revenues [Member]

356,419

323,684

294,162

Healthcare Products [Member] | Capital equipment revenues [Member]

454,518

414,969

412,495

Healthcare Products [Member] | Service revenues [Member]

592,436

568,811

527,402

376,244

354,648

336,157

IRELAND

47,459

41,137

47,459

41,137

63,821

56,784

48,246

UNITED STATES

632,333

577,113

632,333

577,113

Other foreign locations [Member]

2,211,722

1,976,814

1,836,414

Other Foreign Entities [Member]

755,352

748,572

$ 735,336

Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]

$ 432,063

$ 413,332

$ 432,063

$ 413,332

[1]	For more information regarding our recent acquisitions and divestitures see Note 18 titled, "Business Acquisitions and Divestitures". Amortization of purchased intangible assets fiscal 2019 total includes an impairment charge of $16,249, see Note 3 titled, "Goodwill and Intangible Assets", for more information.
[2]	Acquisition and integration related charges include transaction costs and integration expenses associated with acquisitions.
[3]	Represents a one-time special employee bonus paid to most U.S. employees and associated professional fees.
[4]	COVID-19 incremental costs includes the additional costs attributable to COVID-19 such as enhanced cleaning protocols, personal protective equipment for our employees, event cancellation fees, and payroll costs associated with our response to COVID-19, net of any government subsidies available.
[5]	Costs incurred in connection with the Redomiciliation
[6]	For more information regarding our restructuring activities see Note 2 titled, "Restructuring"
[7]	The fiscal 2020 and 2019 totals include the impact of Restructuring see Note 2 titled, "Restructuring" for additional information.
[8]	The fiscal 2019 total includes an impairment charge see Note 3 titled, "Goodwill and Intangible Assets", for additional information.

Common Shares (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Mar. 31, 2018	May 03, 2019	Mar. 31, 2017
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Common Stock, Par or Stated Value Per Share	$ 0.001	$ 75.00		$ 75.00
Ordinary shares, with $75 par value; 84,517 and 84,747 ordinary shares issued and outstanding, respectively	$ 1,982,164	$ 1,998,564
Preferred Stock, Par or Stated Value Per Share	$ 0.001	$ 0.001
Preferred shares	$ 0	$ 0	$ 15		$ 15
Value (EUROS) Ordinary Shares Deferred	25,000
Weighted Average Number of Shares Outstanding, Basic	84,778,000	84,577,000	85,028,000
Weighted Average Number Diluted Shares Outstanding Adjustment	863,000	891,000	685,000
Weighted Average Number of Shares Outstanding, Diluted	85,641,000	85,468,000	85,713,000
Stock Options [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	285,000	352,000	393,000

Repurchases of Common Shares (Details) $ / shares in Units, $ in Thousands	12 Months Ended
	Mar. 31, 2020 USD ($) $ / shares shares	Mar. 31, 2019 USD ($) $ / shares shares	Mar. 31, 2018 USD ($) shares	Mar. 31, 2020 EUR (€) shares	Jul. 30, 2019 USD ($)	May 07, 2019 USD ($)	May 03, 2019 $ / shares	Aug. 09, 2016 USD ($)
Debt Securities, Available-for-sale [Line Items]
Preferred Stock, Shares Authorized	50,000,000	50,000,000		50,000,000
Preferred Stock, Par or Stated Value Per Share \| $ / shares	$ 0.001	$ 0.001
Stock Repurchase Program, Authorized Amount \| $	$ 338,979				$ 300,000	$ 78,979		$ 300,000
Stock Repurchased During Period, Shares	273,259	651,093	664,963
Stock Repurchased and Retired During Period, Value \| $	$ 40,000	$ 72,082	$ 58,939
Common Stock, Par or Stated Value Per Share \| $ / shares	$ 0.001	$ 75.00					$ 75.00
Deferred Ordinary Shares	25,000			25,000
Share-based Payment Arrangement, Shares Withheld for Tax Withholding Obligation	122,884	112,356	127,903
Payment, Tax Withholding, Share-based Payment Arrangement \| $	$ 11,235	$ 8,262	$ 7,014
Euro Member Countries, Euro
Debt Securities, Available-for-sale [Line Items]
Par Value (Euros) of Deferred Ordinary Shares \| €				€ 1.00

Share-Based Compensation (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Mar. 31, 2018
Share-based Compensation Arrangement by Share-based Payment Award [Line Item]
Remaining shares available for grant	3,961,998
Weighted-average assumptions used for options granted:
Risk-free interest rate	2.26%	2.64%	2.01%
Expected life of options	6 years 2 months 12 days	6 years 2 months 12 days	5 years 8 months 12 days
Exptected dividend yield of stock	1.22%	1.47%	1.58%
Expected volatility of stock	20.27%	19.91%	22.08%
Estimated forfeiture rate	2.77%	2.37%	2.25%
Summary of share option activity:
Number of Options, Outstanding, Beginning of Period	2,104,685
Weighted Average Exercise Price, Outstanding, Beginning of Period	$ 72.82
Number of Options, Granted	345,138
Weighted Average Exercise Price, Granted	$ 147.22
Number of Options, Exercised	(613,086)
Weighted Average Exercise Price, Exercised	$ 57.29
Number of Options, Forfeited	(40,611)
Weighted Average Exercise Price, Forfeited	$ 122.61
Number of Options, Outstanding, End of Period	1,796,126	2,104,685
Weighted Average Exercise Price, Outstanding, End of Period	$ 91.29	$ 72.82
Average Remaining Contractual Term, Outstanding	6 years 9 months 18 days
Aggregate Intrinsic Value, Outstanding	$ 89,800
Number of Options, Exercisable	922,708
Weighted Average Exercise Price, Exercisable	$ 69.52
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Remaining Contractual Term	5 years 7 months 6 days
Aggregate Intrinsic Value, Exercisable	$ 65,136
Non-vested stock options outstanding expected to vest	857,860
Common Stock, Fair Market Value Per Share	$ 139.97
Total intrinsic value of stock options exercised	$ 57,683	$ 25,371	$ 16,096
Net cash proceeds from the exercise of stock options	34,731	13,308	11,093
Tax benefit from stock option exercises	$ 16,440	$ 8,306	$ 6,581
Weighted average grant date fair value of stock option grants, per share	$ 23.52	$ 18.12	$ 15.51
Summary of non-vested restricted share activity:
Number of Restricted Shares, Non-vested at Beginning of Period	33,219
Number of Restricted Shares, Granted	14,553
Number of Restricted Shares, Vested	(14,999)
Number of Restricted Shares, Canceled	(1,879)
Number of Restricted Shares, Non-vested at End of Period	30,894	33,219
Unrecognized compensation cost related to nonvested share-based compensation granted	$ 42,056
Weighted average period for recognition of unrecognized compensation cost	2 years 1 month 6 days
Stock Appreciation Rights (SARs)
Summary of non-vested restricted share activity:
FairValueOfOutstandingStockAppreciationRights	$ 544	$ 889	$ 1,437
Restricted Stock
Summary of non-vested restricted share activity:
Number of Restricted Shares, Non-vested at Beginning of Period	676,373
Weighted-Average Grant Date Fair Value, Non-vested at Beginning of Period	$ 80.86
Number of Restricted Shares, Granted	156,901
Weighted-Average Grant Date Fair Value, Granted	$ 135.86
Number of Restricted Shares, Vested	(221,606)
Weighted-Average Grant Date Fair Value, Vested	$ 74.63
Number of Restricted Shares, Canceled	(35,838)
Weighted-Average Grant Date Fair Value, Canceled	$ 93.56
Number of Restricted Shares, Non-vested at End of Period	575,830	676,373
Weighted-Average Grant Date Fair Value, Non-vested at End of Period	$ 98.07	$ 80.86
Fair Value, Share-based Payment Awards, Other than Options	$ 17,657

Financial and Other Guarantees (Details) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Mar. 31, 2018	Mar. 31, 2017
Standard and Extended Product Warranty Accrual	$ 7,381	$ 7,194	$ 6,872	$ 6,861
Standard and Extended Product Warranty Accrual, Increase for Warranties Issued	12,311	11,177	12,305
Standard Product Warranty Accrual, Decrease for Payments	$ (12,124)	$ (10,855)	$ (12,294)

Forward and Swap Contracts (Details) $ in Thousands, $ in Thousands	12 Months Ended
	Mar. 31, 2020 USD ($) lb	Mar. 31, 2019 USD ($)	Mar. 31, 2018 USD ($)	Mar. 31, 2020 CAD ($)
Derivative [Line Items]
Non-derivative Net Investment Hedge	$ 45,765
Other Assets
Derivative [Line Items]
Derivative Assets	124	$ 552
Derivative Liabilities	0	0
Accrued Liabilities
Derivative [Line Items]
Derivative Assets	0	0
Derivative Liabilities	912	278
Selling, General and Administrative Expenses
Derivative [Line Items]
Gain (Loss) on Foreign Currency Derivatives Recorded in Earnings, Net	798	235	$ (1,357)
Cost of Sales
Derivative [Line Items]
Gain (Loss) on Sale of Commodity Contracts	$ (660)	$ 434	$ 373
Canada, Dollars
Derivative [Line Items]
Notional Amount of Foreign Currency Derivative Purchase Contracts (Deprecated 2013-01-31)				$ 6,000
212230 Copper, Nickel, Lead, and Zinc Mining [Member]
Derivative [Line Items]
Derivative, Nonmonetary Notional Amount, Mass \| lb	715,200

Fair Value Measurements (Details) - USD ($)
$ in Thousands

12 Months Ended

Mar. 31, 2020

Mar. 31, 2019

Mar. 31, 2018

Equity Securities, FV-NI, Gain (Loss)

Mar. 31, 2020

$ (3,579)

$ (2,731)

Business Acquisition, Contingent Consideration, at Fair Value

15,988

5,950

$ 8,068

Fair Value, Inputs, Level 1

Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]

2,507

2,545

Foreign Currency Contract, Asset, Fair Value Disclosure

319,581

220,633

^[1]

Equity Securities, FV-NI

^[2]

9,624

13,873

Foreign Currency Contracts, Liability, Fair Value Disclosure

^[1]

^[2]

1,475

1,564

Business Acquisition, Contingent Consideration, at Fair Value

^[3]

^[4]

Fair Value, Inputs, Level 2

Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]

^[2]

Foreign Currency Contract, Asset, Fair Value Disclosure

^[1]

124

552

Foreign Currency Contracts, Liability, Fair Value Disclosure

^[1]

912

278

^[2]

Business Acquisition, Contingent Consideration, at Fair Value

^[3]

1,143,978

1,200,558

^[4]

Fair Value, Inputs, Level 3

Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]

^[2]

Foreign Currency Contract, Asset, Fair Value Disclosure

^[1]

Foreign Currency Contracts, Liability, Fair Value Disclosure

^[1]

^[2]

Business Acquisition, Contingent Consideration, at Fair Value

^[3]

^[4]

15,988

5,950

Reductions and Payout [Member]

Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]

Business Combination, Contingent Consideration Arrangements, Change in Amount of Contingent Consideration, Liability

(691)

Reductions [Member]

Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]

Business Combination, Contingent Consideration Arrangements, Change in Amount of Contingent Consideration, Liability

(1,466)

Additions [Member]

Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]

Business Combination, Contingent Consideration Arrangements, Change in Amount of Contingent Consideration, Liability

9,907

Foreign Currency Gain (Loss)

Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]

Business Combination, Contingent Consideration Arrangements, Change in Amount of Contingent Consideration, Liability

131

Cost of Sales

Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]

Gain (Loss) on Sale of Commodity Contracts

(660)

434

$ 373

Reported Value Measurement [Member]

Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]

2,507

2,545

Foreign Currency Contract, Asset, Fair Value Disclosure

319,581

220,633

^[1]

124

552

Equity Securities, FV-NI

^[2]

9,624

13,873

Foreign Currency Contracts, Liability, Fair Value Disclosure

^[1]

912

278

^[2]

1,475

1,564

Business Acquisition, Contingent Consideration, at Fair Value

^[3]

1,150,521

1,183,227

^[4]

$ 15,988

$ 5,950

[1]	The fair values of forward and swap contracts are based on period-end forward rates and reflect the value of the amount that we would pay or receive for the contracts involving the same notional amounts and maturity dates.
[2]	We maintain a frozen domestic non-qualified deferred compensation plan covering certain employees, which allowed for the deferral of payment of previously earned compensation for an employee-specified term or until retirement or termination. Amounts deferred can be allocated to various hypothetical investment options (compensation deferrals have been frozen under the plan). We hold investments to satisfy the future obligations of the plan. Employees who made deferrals are entitled to receive distributions of their hypothetical account balances (amounts deferred, together with earnings (losses)). We also hold an investment in the common stock of Servizi Italia, S.p.A, a leading provider of integrated linen washing and outsourced sterile processing services to hospital Customers. Beginning in fiscal 2019, changes in the fair value of these investments are recorded in the "Interest income and miscellaneous expense line" of the Consolidated Statement of Income
[3]	We estimate the fair value of our long-term debt using discounted cash flow analyses, based on our current incremental borrowing rates for similar types of borrowing arrangements.
[4]	Contingent consideration obligations arise from prior business acquisitions. The fair values are based on discounted cash flow analyses reflecting the possible achievement of specified performance measures or events and captures the contractual nature of the contingencies, commercial risk, and the time value of money. Contingent consideration obligations are classified in the consolidated balance sheets as accrued expense (short-term) and other liabilities (long-term), as appropriate based on the contractual payment dates.

Accumulated Other Comprehensive Incom (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Mar. 31, 2019	Mar. 31, 2018	Mar. 31, 2017
Equity [Abstract]
Accumulated Other Comprehensive Income (Loss), Net of Tax	$ (235,463)	$ (159,778)	$ 11,685	$ (240,702)

Reclassifications out of AOCI (Details) - USD ($)
$ in Thousands

12 Months Ended

Mar. 31, 2020

Mar. 31, 2019

Mar. 31, 2018

Mar. 31, 2017

Accumulated Other Comprehensive Income (Loss), Net of Tax

$ (235,463)

$ (159,778)

$ 11,685

$ (240,702)

Other Comprehensive Income (Loss), Available-for-sale Securities Adjustment, Net of Tax

71,571

168,111

(254,394)

Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax

(4,114)

(1,382)

(2,007)

Total other comprehensive (loss) income attributable to shareholders

75,685

169,493

(252,387)

New Accounting Pronouncement or Change in Accounting Principle, Effect of Adoption, Quantification

(5,637)

Accumulated Net Unrealized Investment Gain (Loss) [Member]

AOCI, Debt Securities, Available-for-sale, Adjustment, after Tax

1,970

178

^[1]

Other Comprehensive Income (Loss), Available-for-sale Securities Adjustment, Net of Tax

1,703

^[1]

Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax

(89)

^[1]

Total other comprehensive (loss) income attributable to shareholders

1,792

Accumulated Defined Benefit Plans Adjustment [Member]

Accumulated Other Comprehensive (Income) Loss, Defined Benefit Plan, after Tax

(6,813)

(4,204)

^[2]

(6,742)

^[2]

(2,355)

^[2]

Other Comprehensive Income (Loss), Available-for-sale Securities Adjustment, Net of Tax

^[2]

1,505

3,920

(2,291)

Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax

^[2]

4,114

1,382

2,096

Total other comprehensive (loss) income attributable to shareholders

(2,609)

2,538

(4,387)

Accumulated Translation Adjustment [Member]

Accumulated Other Comprehensive Income (Loss), Foreign Currency Translation Adjustment, Net of Tax

(228,650)

(155,574)

^[3]

16,457

^[3]

$ (238,525)

^[3]

Other Comprehensive Income (Loss), Available-for-sale Securities Adjustment, Net of Tax

^[3]

(73,076)

(172,031)

254,982

Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax

^[3]

Total other comprehensive (loss) income attributable to shareholders

$ (73,076)

(172,031)

$ 254,982

Accounting Standards Update 2016-01 [Member]

New Accounting Pronouncement or Change in Accounting Principle, Effect of Adoption, Quantification

^[4]

$ (1,970)

[1]	Realized gain (loss) on available for sale securities is reported in the Interest income and miscellaneous expense line of the ConsolidatedStatements of Income for fiscal 2018
[2]	Amortization (gain) of defined benefit plan items are reported in the Interest income and miscellaneous expense line of our Consolidated Statements of Income.
[3]	The effective portion of gain or loss on net debt designated as non-derivative net investment hedging instruments is recognized in Accumulated Other Comprehensive Income and is reclassified to income in the same period when a gain or loss related to the net investment is included in income.
[4]	As a result of the adoption of ASC 2016-01 we recorded a cumulative effect adjustment to our opening fiscal 2019 retained earnings balance that increased retained earnings and decreased accumulated other comprehensive income. See Note 1 titled, "Nature of Operations and Summary of Significant Accounting Policies" for further details.

Quarterly Results (Unaudited) (Details) - USD ($)
$ / shares in Units, $ in Thousands

3 Months Ended

12 Months Ended

Mar. 31, 2020

Dec. 31, 2019

Sep. 30, 2019

Jun. 30, 2019

Mar. 31, 2019

Dec. 31, 2018

Sep. 30, 2018

Jun. 30, 2018

Mar. 31, 2020

Mar. 31, 2019

Mar. 31, 2018

Effect of Fourth Quarter Events [Line Items]

$ 822,991

$ 774,261

$ 736,840

$ 696,803

$ 768,213

$ 696,238

$ 678,961

$ 638,758

$ 3,030,895

$ 2,782,170

$ 2,619,996

Cost of Revenue

458,931

442,908

418,173

390,960

433,497

409,241

394,297

369,708

1,710,972

1,606,743

1,527,250

Gross Profit

$ 364,060

$ 331,353

$ 318,667

$ 305,843

$ 334,716

$ 286,997

$ 284,664

$ 269,050

1,319,923

1,175,427

1,092,746

Gross Profit Percentage

44.20%

42.80%

43.20%

43.90%

43.60%

41.20%

41.90%

42.10%

Net Income (Loss) Attributable to Parent

^[1]

3,143

40,708

103

$ 123,316

$ 104,930

$ 94,769

$ 84,590

$ 108,745

$ 47,858

$ 77,457

$ 69,991

$ 407,605

$ 304,051

$ 290,915

Earnings Per Share, Basic

$ 1.45

$ 1.24

$ 1.12

$ 1.00

$ 1.29

$ 0.57

$ 0.92

$ 0.83

$ 4.81

$ 3.59

$ 3.42

Earnings Per Share, Diluted

$ 1.44

$ 1.23

$ 1.11

$ 0.99

$ 1.27

$ 0.56

$ 0.91

$ 0.82

$ 4.76

$ 3.56

$ 3.39

Operating Expense [Member]

Effect of Fourth Quarter Events [Line Items]

$ 4,840

$ 26,147

$ 0

Service [Member]

$ 429,399

$ 410,466

$ 399,174

$ 389,068

393,276

368,599

364,302

359,968

$ 1,628,107

$ 1,486,145

$ 1,399,363

Cost of Goods and Services Sold

248,393

247,803

234,573

230,001

232,140

227,012

222,190

223,106

960,770

904,448

881,073

Product [Member]

Effect of Fourth Quarter Events [Line Items]

393,592

363,795

337,666

307,735

374,937

327,639

314,659

278,790

1,402,788

1,296,025

1,220,633

Cost of Goods and Services Sold

210,538

195,105

183,600

160,959

$ 201,357

$ 182,229

$ 172,107

$ 146,602

$ 750,202

$ 702,295

$ 646,177

Operating Expense [Member]