0001757898-24-000008 | 10-K | XBRL Viewer

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, 2024		March 31, 2023		March 31, 2024		March 31, 2023
Prepaid & Other	$	208	$	378	$	—	$	—
Accrued expenses and other	—		—		1,014		2,054

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,
		2024		2023		2022
Foreign currency forward contracts	Selling, general, and administrative	$	1,272	$	5,036	$	4,379
Commodity swap contracts	Cost of revenues	(1,611)		(3,630)		3,921

Quarterly Results (Unaudited)

12 Months Ended

Mar. 31, 2024

Quarterly Financial Information Disclosure [Abstract]

Quarterly Results (Unaudited)

21. QUARTERLY RESULTS (UNAUDITED)

As a result of the agreement to divest our Dental segment, Dental is presented as discontinued operations. Historical information has been retrospectively adjusted to reflect these changes for comparability, as required.


Quarters Ended	Full Year			March 31,			December 31,			September 30,			June 30,
Fiscal 2024
Revenues	$	5,138,701		$	1,419,387		$	1,297,724		$	1,238,204		$	1,183,386



Cost of revenues	2,920,541			836,485			737,698			691,976			654,382



Gross profit	2,218,160			582,902			560,026			546,228			529,004
Percentage of Revenues	43.2		%	41.1		%	43.2		%	44.1		%	44.7		%
Income from continuing operations before income tax expense	702,810			190,575			189,602			155,852			166,781
Income tax expense	149,530			37,276			40,999			35,055			36,200
Income from continuing operations	553,280			153,299			148,603			120,797			130,581
Loss from discontinued operations	(173,201)			(154,301)			(7,658)			(4,451)			(6,791)
Net income (loss)	380,079			(1,002)			140,945			116,346			123,790
Net income (loss) attributable to shareholders	$	378,239		$	(1,377)		$	140,743		$	115,319		$	123,554
Basic earnings per ordinary share attributable to shareholders
Continuing Operations	$	5.58		$	1.55		$	1.50		$	1.21		$	1.32
Discontinued Operations	$	(1.75)		$	(1.56)		$	(0.08)		$	(0.04)		$	(0.07)
Total	$	3.83		$	(0.01)		$	1.42		$	1.17		$	1.25
Diluted earnings per ordinary share attributable to shareholders
Continuing Operations	$	5.55		$	1.54		$	1.49		$	1.20		$	1.31
Discontinued Operations	$	(1.74)		$	(1.55)		$	(0.08)		$	(0.04)		$	(0.07)
Total	$	3.81		$	(0.01)		$	1.42		$	1.16		$	1.25

Fiscal 2023
Revenues	$	4,536,266		$	1,281,252		$	1,112,431		$	1,090,939		$	1,051,644



Cost of revenues	2,555,540			734,850			634,244			608,627			577,819



Gross profit	1,980,726			546,402			478,187			482,312			473,825
Percentage of Revenues	43.7		%	42.6		%	43.0		%	44.2		%	45.1		%
Income from continuing operations before income tax expense	680,266			203,402			171,539			159,325			146,000
Income tax expense	124,069			21,203			40,534			35,417			26,915
Income (loss) from continuing operations	556,197			182,199			131,005			123,908			119,085
Income (loss) from discontinued operations	(450,384)			4,765			(7,680)			(439,139)			(8,330)
Net income (loss)	105,813			186,964			123,325			(315,231)			110,755
Net income (loss) attributable to shareholders	$	107,030		$	187,225		$	123,828		$	(315,285)		$	111,262
Basic Income Per Ordinary Share Attributable to Shareholders:
Continuing Operations	$	5.59		$	1.84		$	1.32		$	1.24		$	1.19
Discontinued Operations	$	(4.52)		$	0.05		$	(0.08)		$	(4.39)		$	(0.08)
Total	$	1.07		$	1.89		$	1.24		$	(3.15)		$	1.11
Diluted Income Per Ordinary Share Attributable to Shareholders:
Continuing Operations	$	5.56		$	1.83		$	1.31		$	1.24		$	1.19
Discontinued Operations	$	(4.49)		$	0.05		$	(0.08)		$	(4.39)		$	(0.08)
Total	$	1.07		$	1.88		$	1.24		$	(3.15)		$	1.10

Share-Based Compensation (Tables)

12 Months Ended

Mar. 31, 2024

Share-Based Payment Arrangement [Abstract]

Schedule of Assumptions Used

The following weighted-average assumptions were used for options granted during fiscal 2024, fiscal 2023 and fiscal 2022:


	Fiscal 2024		Fiscal 2023		Fiscal 2022
Risk-free interest rate	3.59	%	2.44	%	1.10	%
Expected life of options	6.0 years		5.9 years		5.9 years
Expected dividend yield of stock	1.08	%	0.80	%	0.95	%
Expected volatility of stock	27.92	%	24.49	%	24.27	%

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, 2023	1,749,729	$	154.60
Granted	253,946	220.24
Exercised	(126,393)	81.27
Forfeited	(7,411)	217.73

Outstanding at March 31, 2024	1,869,871	$	168.22	6.0 years	$	111,633
Exercisable at March 31, 2024	1,270,907	$	142.42	4.9 years	$	106,246

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

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


	Number of Restricted Shares	Number of Restricted Share Units	Weighted-Average Grant Date Fair Value
Non-vested at March 31, 2023	450,793	28,542	$	186.60
Granted	180,529	18,476	202.13
Vested	(148,283)	(17,041)	164.14
Forfeited	(19,658)	(1,629)	196.29
Non-vested at March 31, 2024	463,381	28,348	$	200.04

Share-Based Payment Arrangement, Activity

A summary of the non-vested restricted share units activity associated with the Cantel share-based compensation plans is presented below:


	Number of Restricted Share Units	Weighted-Average Grant Date Fair Value
Non-vested at March 31, 2023	15,670	$	191.18
Granted	—	—
Vested	(14,763)	191.18
Forfeited	(762)	191.18


Non-vested at March 31, 2024	145	$	191.18

Fair Value Measurements

12 Months Ended

Mar. 31, 2024

Fair Value Disclosures [Text Block]

19. 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, 2024 and March 31, 2023:


					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
	2024		2023		2024		2023		2024		2023		2024		2023
Assets:
Cash and cash equivalents	$	207,020	$	208,357	$	207,020	$	208,357	$	—	$	—	$	—	$	—
Forward and swap contracts (1)	208		378		—		—		208		378		—		—
Equity investments (2)	4,767		7,069		4,767		7,069		—		—		—		—
Other investments	2,902		2,066		2,902		2,066		—		—		—		—
Liabilities:
Forward and swap contracts (1)	$	1,014	$	2,054	$	—	$	—	$	1,014	$	2,054	$	—	$	—
Deferred compensation plans (2)	1,186		1,022		1,186		1,022		—		—		—		—
Total debt (3)	3,206,100		3,078,655		—		—		2,895,784		2,754,218		—		—
Contingent consideration obligations (4)	11,000		15,678		—		—		—		—		11,000		15,678

(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)). Changes in the fair value of these investments are recorded in the Interest income and miscellaneous (income) expense line of the Consolidated Statement of Income. During fiscal 2024 and fiscal 2023, we recorded gains (losses) of $1,060 and $(1,176), respectively, related to these investments. In addition, during fiscal 2024 we sold one of our equity investments which had a value of $3,342.

(3) We estimate the fair value of our debt using discounted cash flow analyses, based on our current incremental borrowing rates for similar types of borrowing arrangements. The fair values of our Senior Public Notes are estimated using quoted market prices for the publicly registered Senior Notes.

(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, 2022	$	10,550

Additions	8,302
Payments	(80)
Reductions and adjustments	(3,100)
Foreign currency translation adjustments	6
Balance at March 31, 2023	$	15,678
Additions	1,313
Payments	(5,967)

Foreign currency translation adjustments	(24)
Balance at March 31, 2024	$	11,000

Additions of contingent consideration obligations during fiscal year 2024 and 2023 were primarily related to our fiscal year 2024 and 2023 acquisitions. Payments of contingent consideration obligations during fiscal year 2024 were primarily related to payouts from prior period acquisitions. Adjustments are recorded in the Selling, general, and administrative expenses line of the Consolidated Statements of Income. Refer to Note 3 titled, "Business Acquisitions and Divestitures" for more information.

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

The following table shows the fair value of our financial assets and liabilities at March 31, 2024 and March 31, 2023:


					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
	2024		2023		2024		2023		2024		2023		2024		2023
Assets:
Cash and cash equivalents	$	207,020	$	208,357	$	207,020	$	208,357	$	—	$	—	$	—	$	—
Forward and swap contracts (1)	208		378		—		—		208		378		—		—
Equity investments (2)	4,767		7,069		4,767		7,069		—		—		—		—
Other investments	2,902		2,066		2,902		2,066		—		—		—		—
Liabilities:
Forward and swap contracts (1)	$	1,014	$	2,054	$	—	$	—	$	1,014	$	2,054	$	—	$	—
Deferred compensation plans (2)	1,186		1,022		1,186		1,022		—		—		—		—
Total debt (3)	3,206,100		3,078,655		—		—		2,895,784		2,754,218		—		—
Contingent consideration obligations (4)	11,000		15,678		—		—		—		—		11,000		15,678

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.

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

3 Months Ended

12 Months Ended

Mar. 31, 2024

Dec. 31, 2023

Sep. 30, 2023

Jun. 30, 2023

Mar. 31, 2023

Dec. 31, 2022

Sep. 30, 2022

Jun. 30, 2022

Mar. 31, 2024

Mar. 31, 2023

Mar. 31, 2022

amortization of inventory and property step up to fair value

^[1]

$ 10,032

$ 11,370

$ 53,139

amortization and impairment of acquired intangible assets

^[1]

266,420

256,355

262,344

loss (gain) on fair value contingent consideration adjustments

^[2]

25,526

23,486

201,905

^[1]

(3,100)

(2,350)

^[1]

873

(67)

(874)

redomiciliation costs

^[3]

620

661

301

^[4]

44,365

485

$ 11,063,697

$ 10,821,839

11,063,697

10,821,839

565,244

552,897

553,104

1,765,180

1,632,775

1,765,180

1,632,775

1,419,387

$ 1,297,724

$ 1,238,204

$ 1,183,386

1,281,252

$ 1,112,431

$ 1,090,939

$ 1,051,644

5,138,701

4,536,266

4,223,403

836,118

791,101

477,815

490,565

Continuing Operations

Payments to Acquire Productive Assets

10,258,793

9,687,000

10,258,793

9,687,000

351,176

352,499

282,837

450,067

422,530

^[5]

432,147

Healthcare [Member]

3,613,019

3,085,131

2,845,467

Healthcare and Life Sciences [Member]

871,358

706,020

649,704

Amortization of Acquired Intangibles and PPE Step Up

229,052

Healthcare and Life Sciences [Member] | Continuing Operations

Payments to Acquire Productive Assets

7,055,576

6,557,742

7,055,576

6,557,742

114,164

98,585

84,487

Applied Sterilization Technologies

322,244

306,377

^[5]

316,222

953,980

914,431

852,972

Amortization of Acquired Intangibles and PPE Step Up

439,744

429,020

410,101

35,531

Applied Sterilization Technologies | Continuing Operations

Payments to Acquire Productive Assets

3,203,217

3,129,258

3,203,217

3,129,258

237,012

253,914

198,350

OperatingSegmentAllExceptCorpandOther [Member]

127,823

116,153

^[5]

115,925

Life Science Member [Member]

5,138,701

4,536,266

4,223,403

571,702

536,704

524,964

OperatingSegmentCorpandOther [Member]

221,349

210,225

216,188

OperatingSegmentAll [Member]

(348,497)

(264,974)

(283,665)

5,138,701

4,536,266

4,223,403

1,183,954

1,080,291

992,328

Additions [Member]

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

1,313

8,302

Reductions and Payout

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

(5,967)

(80)

Consumable revenues [Member] | Healthcare [Member]

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

1,248,424

1,050,316

1,004,605

Capital equipment revenues [Member] | Healthcare [Member]

251,580

241,114

239,365

Capital equipment revenues [Member] | Applied Sterilization Technologies

1,091,537

896,590

782,505

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

14,519

26,460

24,394

Service revenues [Member] | Healthcare [Member]

155,520

147,420

142,281

Service revenues [Member] | Applied Sterilization Technologies

1,273,058

1,138,225

1,058,357

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

939,461

887,971

828,578

164,602

148,170

143,318

IRELAND

68,603

60,570

68,603

60,570

82,695

74,292

81,864

UNITED STATES

205,788

1,009,979

877,950

1,009,979

877,950

3,751,437

3,254,373

2,943,950

Other foreign locations [Member]

441,643

1,304,569

1,207,601

$ 1,197,589

Other Foreign Entities [Member]

48,922

Income from continuing operations, net of income tax

$ 686,598

$ 694,255

$ 686,598

$ 694,255

[1]	For more information regarding our recent acquisitions and divestitures, refer to Note 3 titled, "Business Acquisitions and Divestitures."
[2]	Acquisition and integration related charges include transaction costs and integration expenses associated with acquisitions.
[3]	Costs incurred in tax restructuring.
[4]	For more information regarding our restructuring efforts, refer to Note 2 titled, "Restructuring."
[5]	Fiscal 2022 totals include approximately $229,052 and $35,531 for Healthcare and Life Sciences, and AST, respectively, of amortization of acquired intangible assets and amortization of property "step-up" to fair value. For more information regarding our recent acquisitions and divestitures see Note 3 titled, "Business Acquisitions and Divestitures."

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

12 Months Ended

Mar. 31, 2024

Mar. 31, 2023

Mar. 31, 2022

Statement of Cash Flows [Abstract]

$ 380,079

$ 105,813

$ 242,870

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

Depreciation, depletion, and amortization

565,244

552,897

553,104

Deferred income taxes

(131,412)

(185,913)

(106,620)

Share-based compensation

56,535

38,951

57,660

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

24,997

22,193

15,117

Loss on classification as held for sale

206,444

Loss (Gain) on Disposition of Business

^[1]

873

(67)

(874)

Gain (Loss) on Sale of Investments

(546)

Fair value adjustment related to convertible debt liability

27,806

Amortization of inventory fair value adjustments

4,822

7,363

66,663

Changes in operating assets and liabilities:

490,565

Other items

12,316

(24,832)

(21,639)

Accounts receivable, net

(128,069)

(133,304)

(51,969)

Inventories, net

(37,450)

(123,921)

(102,922)

Other current assets

(1,552)

(24,086)

7,126

Accounts payable

(18,962)

53,342

14,887

Accruals and other, net

39,955

(22,054)

(16,398)

Net cash provided by operating activities

973,274

756,947

684,811

Investing activities:

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

(360,326)

(361,969)

(287,563)

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

7,381

14,587

1,741

Proceeds from Sale of Other Investments

9,458

6,624

169,712

3,882

Payments to Acquire Investments

(1,500)

Investments in businesses, net of cash acquired

(546,256)

(42,572)

(550,449)

Net cash used in investing activities

(887,361)

(383,330)

(666,559)

Financing activities:

Proceeds from Issuance of Senior Long-term Debt

1,350,000

Proceeds from Issuance of Debt

650,000

Repayments of Secured Debt

(60,000)

(156,875)

(345,000)

Repayments of Convertible Debt

(371,361)

Proceeds Under Credit Facility, net

181,486

241,657

(190,174)

Amortization of Financing Costs

(17,472)

Payments of Merger Related Costs, Financing Activities

(6,242)

(1,471)

(32,679)

Repurchases of ordinary shares

(11,765)

(308,565)

(55,777)

Cash dividends paid to common shareholders

(200,570)

(183,498)

(163,169)

Payments to Noncontrolling Interests

(1,561)

(794)

(997)

Proceeds from Noncontrolling Interests

2,994

3,672

Proceeds from (Payments for) Other Financing Activities

10,472

1,828

10,071

Net cash (used in) provided by financing activities

(85,186)

(498,718)

115,830

Effect of exchange rate changes on cash and cash equivalents

(2,064)

(14,862)

(6,293)

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

(1,337)

(139,963)

127,789

Cash and cash equivalents at beginning of period

208,357

348,320

220,531

Cash and cash equivalents at end of period

207,020

208,357

348,320

Payments for Repurchase of Private Placement

$ 0

$ (91,000)

$ (721,284)

[1]	For more information regarding our recent acquisitions and divestitures, refer to Note 3 titled, "Business Acquisitions and Divestitures."

Goodwill and Intangible Assets (Tables)

12 Months Ended

Mar. 31, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Goodwill [Table Text Block]

Changes to the carrying amount of goodwill for the years ended March 31, 2024 and 2023 were as follows:


	Healthcare Segment		AST Segment		Life Sciences Segment		Total
Balance at March 31, 2022	2,326,830		1,432,858		179,288		3,938,976
Goodwill acquired	6,221		803		—		7,024
Measurement period adjustments to acquired goodwill	(21,624)		—		3,147		(18,477)

Divestiture	(2,358)		—		—		(2,358)
Foreign currency translation adjustments and other	(7,796)		(37,527)		(623)		(45,946)
Balance at March 31, 2023	$	2,301,273	$	1,396,134	$	181,812	$	3,879,219
Goodwill acquired	199,452		634		—		200,086
Measurement period adjustments to acquired goodwill	(2,573)		—		—		(2,573)


Foreign currency translation adjustments and other	2,758		(9,139)		361		(6,020)
Balance at March 31, 2024	$	2,500,910	$	1,387,629	$	182,173	$	4,070,712

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

Information regarding our intangible assets is as follows:


	2024				2023
March 31,	Gross Carrying Amount		Accumulated Amortization		Gross Carrying Amount		Accumulated Amortization
Customer relationships	$	2,552,913	$	863,662	$	2,313,441	$	658,569
Non-compete agreements	15,511		15,234		15,486		14,202
Patents and technology	516,457		278,492		461,539		237,939
Trademarks and tradenames	251,098		90,362		235,554		72,405
Supplier relationships	54,800		23,747		54,800		21,006

Total	$	3,390,779	$	1,271,497	$	3,080,820	$	1,004,121

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:


	2025		2026		2027		2028		2029
Estimated amortization expense	$	270,365	$	261,498	$	255,383	$	250,617	$	248,061

Tabular disclosure of goodwill by reportable segment and in total which includes a rollforward schedule.

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 24
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482548/350-20-55-24

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 6: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 7: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 8: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 9: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 10: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 11: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1A
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1A

Reference 12: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-2

Property, Plant and Equipment [Line Items]

CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY - USD ($) shares in Thousands, $ in Thousands	Total	Ordinary Shares	Retained Earnings [Member]	Accumulated Other Comprehensive Income (Loss)	Noncontrolling Interest
Common shares outstanding		85,353
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	$ 3,891,468	$ 2,002,825	$ 1,939,408	$ (61,243)	$ 10,478
Income from continuing operations, net of income tax	242,870		243,888		(1,018)
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Noncontrolling Interest	(148,565)			(148,565)
Stock Repurchased and Retired During Period, Shares		(353)
Stock Repurchased and Retired During Period, Value	(55,777)	$ (34,894)	(20,883)
Stock Issued During Period, Shares, Employee Stock Purchase Plans		770
Stock Issued During Period, Value, Employee Stock Purchase Plan	67,499	$ 67,499
Dividends, Common Stock, Cash	(163,169)		(163,169)
Noncontrolling Interest, Decrease from Distributions to Noncontrolling Interest Holders	(997)				(997)
Noncontrolling Interest, Increase from Contributions to Noncontrolling Interest Holders	3,672				3,672
Changes In Noncontrolling Interests, Other	146				146
Noncontrolling Interest, Increase from Business Combination		14,297
Stock Issued During Period, Value, Acquisitions	2,689,317	$ 2,689,317
Consideration related to equity component of Cantel Convertible Debt	175,555	175,555
Consideration Related to Cantel Equity Compensation Programs	18,173	18,173
Reclassification to Cantel convertible debt, premium liability	(175,555)	$ (175,555)
Common shares outstanding		100,067
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	6,544,637	$ 4,742,920	1,999,244	(209,808)	12,281
Income from continuing operations, net of income tax	105,813		107,030		(1,217)
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Noncontrolling Interest	(110,902)			(110,902)
Stock Repurchased and Retired During Period, Shares		(1,642)
Stock Repurchased and Retired During Period, Value	(308,565)	$ (297,322)	(11,243)
Stock Issued During Period, Shares, Employee Stock Purchase Plans		204
Stock Issued During Period, Value, Employee Stock Purchase Plan	40,777	$ 40,777
Dividends, Common Stock, Cash	(183,498)		(183,498)
Noncontrolling Interest, Decrease from Distributions to Noncontrolling Interest Holders	(794)				(794)
Changes In Noncontrolling Interests, Other	$ (296)				(296)
Common shares outstanding	98,629	98,629
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	$ 6,087,172	$ 4,486,375	1,911,533	(320,710)	9,974
Income from continuing operations, net of income tax	380,079		378,239		1,840
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Noncontrolling Interest	(7,947)			(7,947)
Stock Repurchased and Retired During Period, Shares		(77)
Stock Repurchased and Retired During Period, Value	(11,765)	$ (10,208)	(1,557)
Stock Issued During Period, Shares, Employee Stock Purchase Plans		331
Stock Issued During Period, Value, Employee Stock Purchase Plan	67,009	$ 67,009
Dividends, Common Stock, Cash	(200,570)		(200,570)
Noncontrolling Interest, Decrease from Distributions to Noncontrolling Interest Holders	(1,562)				(1,562)
Noncontrolling Interest, Increase from Contributions to Noncontrolling Interest Holders	2,994				2,994
Changes In Noncontrolling Interests, Other	$ (64)				(64)
Common shares outstanding	98,883	98,883
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	$ 6,315,346	$ 4,543,176	$ 2,087,645	$ (328,657)	$ 13,182

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

12 Months Ended

Mar. 31, 2024

Mar. 31, 2023

Mar. 31, 2022

Document Period End Date

Mar. 31, 2024

Asset Retirement Obligation

$ 13,658

$ 13,131

$ 13,543

Asset Retirement Obligation, Liabilities Incurred

253

Asset Retirement Obligation, Liabilities Settled

(144)

(625)

Asset Retirement Obligation, Accretion Expense

311

104

Asset Retirement Obligation, Foreign Currency Translation Gain (Loss)

107

Land

^[1]

90,134

77,757

Buildings and Improvements, Gross

724,492

658,108

Machinery and Equipment, Gross

1,075,082

959,952

Capitalized Computer Software, Gross

256,671

240,933

Materials, Supplies, and Other

692,642

637,920

Construction in Progress, Gross

^[1]

500,106

472,206

Property, Plant and Equipment, Gross

3,339,127

3,046,876

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

(1,573,947)

(1,414,101)

Accumulated Other Comprehensive Income (Loss), Net of Tax

1,765,180

1,632,775

Depreciation

$ 181,722

$ 165,019

$ 176,298

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

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

12 Months Ended

Mar. 31, 2024

Mar. 31, 2023

Mar. 31, 2022

Mar. 31, 2021

$ (328,657)

$ (320,710)

$ (209,808)

$ (61,243)

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

6,596

110,437

144,212

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

(1,351)

(465)

(4,353)

Total other comprehensive (loss) income attributable to shareholders

7,947

110,902

148,565

Accumulated Defined Benefit Plans Adjustment [Member]

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

^[1]

(724)

1,276

(5,519)

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

^[1]

615

(799)

11,148

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

^[1]

1,351

465

4,353

Total other comprehensive (loss) income attributable to shareholders

^[1]

(736)

(1,264)

6,795

Accumulated Translation Adjustment [Member]

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

^[2]

(327,933)

(320,722)

(211,084)

$ (55,724)

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

^[2]

(7,211)

(109,638)

(155,360)

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

^[2]

Total other comprehensive (loss) income attributable to shareholders

^[2]

$ (7,211)

$ (109,638)

$ (155,360)

[1]	mortization (gain) of defined benefit plan costs is reported in the Interest income and miscellaneous expense (income) line of our Consolidated Statements of Income.
[2]	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.

Amount, after tax, of accumulated increase (decrease) in equity from transaction and other event and circumstance from nonowner source.

Share-Based Payment Arrangement [Abstract]

Forward and Swap Contracts (Details) $ in Thousands, € in Millions, £ in Millions, $ in Millions, $ in Millions	12 Months Ended
	Mar. 31, 2024 USD ($) lb	Mar. 31, 2023 USD ($)	Mar. 31, 2022 USD ($)	Mar. 31, 2024 EUR (€)	Mar. 31, 2024 GBP (£)	Mar. 31, 2024 MXN ($)	Mar. 31, 2024 AUD ($)
Prepaid Expenses and Other Current Assets
Derivative [Line Items]
Derivative Assets	$ 208	$ 378
Derivative Liabilities	$ 0	$ 0
Derivative Liability, Statement of Financial Position [Extensible Enumeration]	Prepaid expenses and other current assets	Prepaid expenses and other current assets		Prepaid expenses and other current assets	Prepaid expenses and other current assets	Prepaid expenses and other current assets	Prepaid expenses and other current assets
Derivative Asset, Statement of Financial Position [Extensible Enumeration]	Prepaid expenses and other current assets	Prepaid expenses and other current assets		Prepaid expenses and other current assets	Prepaid expenses and other current assets	Prepaid expenses and other current assets	Prepaid expenses and other current assets
Accrued Liabilities
Derivative [Line Items]
Derivative Assets	$ 0	$ 0
Derivative Liabilities	$ 1,014	$ 2,054
Derivative Liability, Statement of Financial Position [Extensible Enumeration]	Accrued expenses and other	Accrued expenses and other		Accrued expenses and other	Accrued expenses and other	Accrued expenses and other	Accrued expenses and other
Derivative Asset, Statement of Financial Position [Extensible Enumeration]	Accrued expenses and other	Accrued expenses and other		Accrued expenses and other	Accrued expenses and other	Accrued expenses and other	Accrued expenses and other
Selling, General and Administrative Expenses
Derivative [Line Items]
Gain (Loss) on Foreign Currency Derivatives Recorded in Earnings, Net	$ 1,272	$ 5,036	$ 4,379
Cost of Sales
Derivative [Line Items]
Gain (Loss) on Sale of Commodity Contracts	$ (1,611)	$ (3,630)	$ 3,921
212230 Copper, Nickel, Lead, and Zinc Mining [Member]
Derivative [Line Items]
Derivative, Nonmonetary Notional Amount, Mass \| lb	789,000
Euro Member Countries, Euro \| Foreign Exchange Forward
Derivative [Line Items]
Derivative Liabilities \| £					£ 48.0
Mexico, Pesos \| Foreign Exchange Forward
Derivative [Line Items]
Derivative Asset, Notional Amount						$ 150.0
Euro Member Countries, Euro \| Foreign Exchange Forward
Derivative [Line Items]
Derivative Liabilities \| €				€ 4.0
Australia, Dollars \| Foreign Exchange Forward
Derivative [Line Items]
Derivative Asset, Notional Amount							$ 18.0

Business Acquisitions and Divestitures Synergy Consideration (Details) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Sep. 30, 2023	Mar. 31, 2022
Business Acquisition [Line Items]
Operating Lease, Right-of-Use Asset	$ 173,201	$ 166,553
Goodwill	4,070,712	3,879,219		$ 3,938,976
Goodwill, Purchase Accounting Adjustments	(2,573)	$ (18,477)
BD Acquisition
Business Acquisition [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Inventory	31,827		$ 27,006
Business Combination, Provisional Information, Initial Accounting Incomplete, Adjustment, Inventory	4,821
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Property, Plant, and Equipment	7,864		6,755
Business Combination, Provisional Information, Initial Accounting Incomplete, Adjustment, Property, Plant, and Equipment	1,109
Operating Lease, Right-of-Use Asset	1,737		0
Business Combination, Provisional Information, Initial Accounting Incomplete, Adjustment, Leases Right of Use Asset	1,737
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill	303,000		303,598
Business Combination, Provisional Information, Initial Accounting Incomplete, Adjustment, Intangibles	(598)
Goodwill	197,067		202,399
Goodwill, Purchase Accounting Adjustments	(5,332)
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets	541,495		539,758
Business Combination, Provisional Information, Initial Accounting Incomplete, Adjustment, Financial Assets	1,737
Business Combination, Recognized Identifiable Asset Acquired and Liability Assumed, Lease Obligation	1,737		0
Business Combination, Provisional Information, Initial Accounting Incomplete, Adjustment, Lease Liability	1,737
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities	1,737		0
Business Combination, Provisional Information, Initial Accounting Incomplete, Adjustment, Financial Liabilities	1,737
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net	539,758		$ 539,758
Business Combination Provisional Information Initial Accounting Incomplete Adjustment Net Assets Acquired	0
BD Acquisition \| Customer Relationships [Member]
Business Acquisition [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill	$ 238,000
BD Acquisition \| Customer-Related Intangible Assets
Business Acquisition [Line Items]
Finite-Lived Intangible Asset, Useful Life	13 years
BD Acquisition \| Patented Technology [Member]
Business Acquisition [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill	$ 50,000
Finite-Lived Intangible Asset, Useful Life	13 years
BD Acquisition \| Trademarks and Trade Names [Member]
Business Acquisition [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill	$ 15,000
Finite-Lived Intangible Asset, Useful Life	15 years

Benefit Plans (Significant assumptions used to determine the net periodic benefit costs) (Details)	12 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2022
Synergy Health PLC Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Assumptions Used Calculating Net Periodic Benefit Cost, Discount Rate	4.70%	2.80%	2.10%
Defined Benefit Plan, Assumptions Used Calculating Net Periodic Benefit Cost, Expected Long-term Rate of Return on Plan Assets	6.10%	3.20%	3.60%
Isotron [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Assumptions Used Calculating Net Periodic Benefit Cost, Discount Rate	3.70%	1.80%	0.90%
Defined Benefit Plan, Assumptions Used Calculating Net Periodic Benefit Cost, Expected Long-term Rate of Return on Plan Assets	3.70%	1.80%	0.90%
Daniken [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Assumptions Used Calculating Net Periodic Benefit Cost, Discount Rate	1.50%	2.05%	1.00%
Defined Benefit Plan, Assumptions Used Calculating Net Periodic Benefit Cost, Expected Long-term Rate of Return on Plan Assets	1.50%	1.95%	1.00%
Radeberg [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Assumptions Used Calculating Net Periodic Benefit Cost, Discount Rate	2.00%	2.00%	1.50%
Allershausen [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Assumptions Used Calculating Net Periodic Benefit Cost, Discount Rate	2.20%	2.20%	2.00%
Harwell Dosimeters [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Assumptions Used Calculating Net Periodic Benefit Cost, Discount Rate	4.85%	4.80%	2.85%
Other Post-Retirement Benefit Plans, Net
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Assumptions Used Calculating Net Periodic Benefit Cost, Discount Rate	4.75%	3.25%	2.50%

Debt (Details) $ / shares in Units, € in Thousands, £ in Thousands			12 Months Ended
	May 15, 2020 USD ($) $ / shares	May 15, 2015 USD ($)	Mar. 31, 2022 USD ($) $ / shares	Mar. 31, 2020	Mar. 31, 2024 USD ($) $ / shares	Mar. 31, 2024 EUR (€)	Mar. 31, 2024 GBP (£)	Mar. 31, 2023 USD ($)	Jun. 30, 2021 USD ($)	Jun. 02, 2021 $ / shares shares	Apr. 01, 2021 USD ($)	Mar. 19, 2021 USD ($)	Feb. 27, 2017 USD ($)	Feb. 27, 2017 EUR (€)	Feb. 27, 2017 GBP (£)	Dec. 31, 2012 USD ($)
Debt Instrument [Line Items]
Long-term Debt, Current Maturities					$ 165,938,000
Line of Credit Facility, Amount Outstanding					484,529,000			$ 301,672,000
Long-term Debt					3,224,088,000
Long-term Debt					3,120,162,000			3,018,655,000
Long-term Debt, Maturities, Repayments of Principal in Year Two					662,029,000
Long-term Debt, Maturities, Repayments of Principal in Year Three					614,396,000
Long-term Debt, Maturities, Repayments of Principal in Year Four					150,000,000
Long-term Debt, Maturities, Repayments of Principal after Year Five					1,631,725,000
Term loan, current portion					41,250,000			27,500,000
Delayed draw term loan, current portion					44,688,000			32,500,000
Short-term Debt					85,938,000			60,000,000
Debt Issuance Costs, Net					(17,988,000)			(21,444,000)
Term Loan, long term portion					3,750,000			45,000,000
Delayed Draw Term Loan, long term portion					548,438,000			593,125,000	$ 650,000,000
Debt, Long-Term and Short-Term, Combined Amount					$ 3,206,100,000			3,078,655,000
Common Stock, Par or Stated Value Per Share \| $ / shares					$ 0.001
Debt Instrument, Convertible, Units of Property Reference										25.0843
Debt Instrument, Convertible, Parent Shares \| shares										8.4752
Debt Instrument, Convertible, Cash Per One Thousand Dollars Ratio										424.68
Debt Instrument, Convertible, Increase in Conversion Rate, Shares \| shares										0.9931
Debt Instrument, Convertible, Stock Price \| $ / shares										$ 81.3520
Consideration related to equity component of convertible debt			$ 175,555,000
Convertible debt premium liability					$ 203,361,000
Cantel Medical Corp.
Debt Instrument [Line Items]
Business Acquisition, Share Price \| $ / shares			$ 188,070.00							$ 16.93
Consideration related to equity component of convertible debt			$ 175,555,000
10 year maturity
Debt Instrument [Line Items]
Debt Instrument, Term		10 years		10 years
15 year maturity
Debt Instrument [Line Items]
Debt Instrument, Term		15 years
Debt Instrument, Maturity Date, Description				15 years
Senior Notes
Debt Instrument [Line Items]
Senior Notes		$ 350,000,000														$ 200,000,000
Long-term Debt					751,433,000			750,302,000
Debt Instrument, Face Amount											$ 1,350,000,000
Long-term Debt, Cash Settlement Value			$ 371,361,000
Senior Notes, Noncurrent					$ 1,350,000,000			1,350,000,000
Convertible Debt
Debt Instrument [Line Items]
Debt Instrument, Face Amount	$ 168,000,000
STE 3.85% due 2024 Senior Notes
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage					3.35%	3.35%	3.35%
Debt Instrument, Face Amount					$ 80,000,000			80,000,000
STE 4.05% due 2027 Senior Notes
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage					3.55%	3.55%	3.55%
Debt Instrument, Face Amount					$ 25,000,000			25,000,000
STE 3.45% due 2025 Senior Notes
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage					3.45%	3.45%	3.45%
Debt Instrument, Face Amount					$ 125,000,000			125,000,000
STE 3.55% due 2027 Senior Notes
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage					3.55%	3.55%	3.55%
Debt Instrument, Face Amount					$ 125,000,000			125,000,000
STE 3.70% due 2030 Senior Notes
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage					3.70%	3.70%	3.70%
Debt Instrument, Face Amount					$ 100,000,000			100,000,000
STE 3.93% due 2027 Senior Notes
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage					3.93%	3.93%	3.93%
Debt Instrument, Face Amount					$ 50,000,000			50,000,000
STE 1.86% due 2027 Senior Notes
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage					1.86%	1.86%	1.86%
Debt Instrument, Face Amount					$ 64,708,000	€ 60,000		65,254,000
STE 4.03% due 2029 Senior Notes
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage					4.03%	4.03%	4.03%
Debt Instrument, Face Amount					$ 45,000,000			45,000,000
STE 2.04% due 2029 Senior Notes
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage					2.04%	2.04%	2.04%
Debt Instrument, Face Amount					$ 21,569,000	€ 20,000		21,752,000
STE 3.04% due 2029 Senior Notes
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage					3.04%	3.04%	3.04%
Debt Instrument, Face Amount					$ 56,799,000		£ 45,000	55,579,000
STE 2.30% due 2032 Senior Notes
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage					2.30%	2.30%	2.30%
Debt Instrument, Face Amount					$ 20,491,000	€ 19,000		20,664,000
STE 3.17% due 2032 Senior Notes
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage					3.17%	3.17%	3.17%
Debt Instrument, Face Amount					$ 37,866,000		£ 30,000	37,053,000
Private Placement
Debt Instrument [Line Items]
Senior Notes, Noncurrent					$ 751,433,000			$ 750,302,000
United States of America, Dollars
Debt Instrument [Line Items]
Senior Notes													$ 95,000,000
United Kingdom, Pounds
Debt Instrument [Line Items]
Senior Notes \| £															£ 75,000
Euro Member Countries, Euro
Debt Instrument [Line Items]
Senior Notes \| €														€ 99,000
2031 Notes \| Senior Notes
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage											2.70%
Debt Instrument, Face Amount											$ 675,000,000
2051 Notes \| Senior Notes
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage											3.75%
Debt Instrument, Face Amount											$ 675,000,000
Cantel Convertible Senior Notes
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage	3.25%
Debt Instrument, Convertible, Conversion Price \| $ / shares	$ 41.51
Debt Instrument, Convertible, Conversion Ratio	24.0912
Term Loan Facility \| Line of Credit
Debt Instrument [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity												$ 550,000,000
Debt Instrument, Interest Rate, Stated Percentage					1.875%	1.875%	1.875%					1.25%
Revolving Credit Facility [Member] \| Line of Credit
Debt Instrument [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity												$ 1,250,000,000
Bridge Loan \| Line of Credit
Debt Instrument [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity												625,000,000
Delayed Draw Term Loan \| Line of Credit
Debt Instrument [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity												$ 750,000,000
Debt Instrument, Interest Rate, Stated Percentage					1.875%	1.875%	1.875%					1.25%

Share-Based Compensation

12 Months Ended

Mar. 31, 2024

Share-Based Compensation

16. 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 and Organizational Development 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 option awards to employees generally vest and become nonforfeitable in increments of 25% per year over a four-year period, with full vesting four years after the date of grant. Historically, restricted stock awards to employee recipients generally cliff vested on the fourth anniversary of the grant date if the recipient remained in continuous employment through that date. Beginning with fiscal 2024 grants, Company restricted stock (and restricted stock units) generally cliff vest over a three year period after the grant date. However, employees who are grantees of restricted stock and have attained age 55 and been employed for at least 5 years at the time of the grant or meet these criteria during the term of the grant and are employed in the U.S. or in a few other foreign jurisdictions, or employees who have 25 years of service at the time of grant or meet that criterion during the term of the grant, will be subject to installment vesting rules over the applicable vesting period. Awards to certain employees in the U.S. or a few other jurisdictions may provide for continued vesting after “retirement,” if certain conditions are met. As of March 31, 2024, 2,370,422 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 revenues 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 2024, fiscal 2023 and fiscal 2022:


	Fiscal 2024		Fiscal 2023		Fiscal 2022
Risk-free interest rate	3.59	%	2.44	%	1.10	%
Expected life of options	6.0 years		5.9 years		5.9 years
Expected dividend yield of stock	1.08	%	0.80	%	0.95	%
Expected volatility of stock	27.92	%	24.49	%	24.27	%

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 2.22%, 2.54% and 2.85% was applied in fiscal 2024, 2023 and 2022 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, 2023	1,749,729	$	154.60
Granted	253,946	220.24
Exercised	(126,393)	81.27
Forfeited	(7,411)	217.73

Outstanding at March 31, 2024	1,869,871	$	168.22	6.0 years	$	111,633
Exercisable at March 31, 2024	1,270,907	$	142.42	4.9 years	$	106,246

We estimate that 590,113 of the non-vested stock options outstanding at March 31, 2024 will ultimately vest.

The aggregate intrinsic value in the table above represents the total pre-tax difference between the $224.82 closing price of our ordinary shares on March 31, 2024 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, 2024, 2023 and 2022 was $18,177, $6,502 and $52,952, respectively. Net cash proceeds from the exercise of stock options were $10,472, $1,828 and $10,071 for the years ended March 31, 2024, 2023 and 2022, respectively. The tax benefit from stock option exercises was $5,470, $4,945 and $18,143 for the years ended March 31, 2024, 2023 and 2022, respectively.

The weighted average grant date fair value of stock option grants was $54.60, $50.72 and $37.52 for the years ended March 31, 2024, 2023 and 2022, respectively.

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


	Number of Restricted Shares	Number of Restricted Share Units	Weighted-Average Grant Date Fair Value
Non-vested at March 31, 2023	450,793	28,542	$	186.60
Granted	180,529	18,476	202.13
Vested	(148,283)	(17,041)	164.14
Forfeited	(19,658)	(1,629)	196.29
Non-vested at March 31, 2024	463,381	28,348	$	200.04

Restricted shares and restricted share unit grants are valued based on the closing stock price at the grant date. The value of restricted shares and units at the time of grant that vested during fiscal 2024 was $27,149.

As of March 31, 2024, there was a total of $60,130 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 1.7 years.

Cantel Share-Based Compensation Plan

In connection with the June 2, 2021 acquisition of Cantel, outstanding, non-vested Cantel restricted share units were replaced with STERIS restricted share units.

As of March 31, 2024, there was a total of $3 in unrecognized compensation cost related to non-vested STERIS restricted share units awarded to replace Cantel restricted share units. We expect to recognize the remaining cost in fiscal 2025.

A summary of the non-vested restricted share units activity associated with the Cantel share-based compensation plans is presented below:


	Number of Restricted Share Units	Weighted-Average Grant Date Fair Value
Non-vested at March 31, 2023	15,670	$	191.18
Granted	—	—
Vested	(14,763)	191.18
Forfeited	(762)	191.18


Non-vested at March 31, 2024	145	$	191.18

Common Shares (Tables)

12 Months Ended

Mar. 31, 2024

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


Years ended March 31,	2024	2023	2022
Denominator (shares in thousands):
Weighted average shares outstanding—basic	98,787	99,706	97,535
Dilutive effect of share equivalents	572	540	791
Weighted average shares outstanding and share equivalents—diluted	99,359	100,246	98,326

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

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,	2024	2023	2022
Number of ordinary share options (shares in thousands)	606	578	243

Business Segment Information (Tables)

12 Months Ended

Mar. 31, 2024

Schedule of Segment Reporting Information, by Segment


Years Ended March 31,	2024		2023		2022
Revenues:
Healthcare	$	3,613,019	$	3,085,131	$	2,845,467
AST	953,980		914,431		852,972
Life Sciences	571,702		536,704		524,964

Total revenues	$	5,138,701	$	4,536,266	$	4,223,403
Operating income (loss):
Healthcare	871,358		706,020		649,704
AST	439,744		429,020		410,101
Life Sciences	221,349		210,225		216,188


Corporate	(348,497)		(264,974)		(283,665)
Total operating income before adjustments	$	1,183,954	$	1,080,291	$	992,328
Less: Adjustments
Amortization of acquired intangible assets (1)	266,420		256,355		262,344
Acquisition and integration related charges (2)	25,526		23,486		201,905
Tax restructuring costs (3)	620		661		301
Gain on fair value adjustment of acquisition related contingent consideration (1)	—		(3,100)		(2,350)
Net loss (gain) on divestiture of businesses (1)	873		(67)		(874)
Amortization of inventory and property "step up" to fair value (1)	10,032		11,370		53,139

Restructuring charges (4)	44,365		485		48

Income from Operations	$	836,118	$	791,101	$	477,815

(1) For more information regarding our recent acquisitions and divestitures, refer to Note 3 titled, "Business Acquisitions and Divestitures."

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

(3) Costs incurred in tax restructuring.

(4) For more information regarding our restructuring efforts, refer to Note 2 titled, "Restructuring."


March 31,	2024		2023
Assets
Healthcare and Life Sciences	$	7,055,576	$	6,557,742
AST	3,203,217		3,129,258
Assets excluding assets held for sale	$	10,258,793	$	9,687,000


Years Ended March 31,	2024		2023		2022
Capital Expenditures
Healthcare and Life Sciences	$	114,164	$	98,585	$	84,487
AST	237,012		253,914		198,350

Total Capital Expenditures	$	351,176	$	352,499	$	282,837
Depreciation, Depletion, and Amortization (1)
Healthcare and Life Sciences	$	322,244	$	306,377	$	316,222
AST	127,823		116,153		115,925

Total Depreciation, Depletion, and Amortization	$	450,067	$	422,530	$	432,147

(1) Fiscal 2022 totals include approximately $229,052 and $35,531 for Healthcare and Life Sciences, and AST, respectively, of amortization of acquired intangible assets and amortization of property "step-up" to fair value. For more information regarding our recent acquisitions and divestitures see Note 3 titled, "Business Acquisitions and Divestitures."

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


March 31,	2024		2023
Property, Plant, and Equipment, Net
Ireland	$	68,603	$	60,570
United States	1,009,979		877,950
Other locations	686,598		694,255
Property, Plant, and Equipment, Net	$	1,765,180	$	1,632,775

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


Years Ended March 31,	2024		2023		2022
Revenues:
Ireland	$	82,695	$	74,292	$	81,864
United States	3,751,437		3,254,373		2,943,950
Other locations	1,304,569		1,207,601		1,197,589
Total Revenues	$	5,138,701	$	4,536,266	$	4,223,403

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


Years Ended March 31,	2024		2023		2022
Healthcare:
Capital equipment	1,091,537		$	896,590	$	782,505
Consumables	1,248,424		1,050,316		1,004,605
Service	1,273,058		1,138,225		1,058,357
Total Healthcare Revenues	$	3,613,019	$	3,085,131	$	2,845,467
AST:
Capital equipment	$	14,519	$	26,460	$	24,394
Service	$	939,461	$	887,971	$	828,578
Total AST Revenues	$	953,980	$	914,431	$	852,972
Life Sciences:
Capital equipment	$	155,520	$	147,420	$	142,281
Consumables	251,580		241,114		239,365
Service	164,602		148,170		143,318
Total Life Sciences Revenues	$	571,702	536,704		524,964

Total Revenues	$	5,138,701	$	4,536,266	$	4,223,403

Benefit Plans Benefit Plans (Rollforward of Level 3 assets) (Details) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2022
Defined Benefit Plan Disclosure [Line Items]
Other Investments	$ 6,110	$ 5,387	$ 5,383
Defined Benefit Plan, Plan Assets Level 3 Reconciliation, Period Increase (Decrease)	28	(157)
Defined Benefit Plan, Plan Assets, Foreign Currency Translation Gain (Loss)	64	(159)
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	$ 631	$ 320

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

12 Months Ended

Mar. 31, 2024

Mar. 31, 2023

Mar. 31, 2022

Sep. 30, 2023

$ 9,458

$ 6,624

$ 169,712

^[1]

25,526

23,486

201,905

Operating Lease, Right-of-Use Asset

^[2]

(873)

874

173,201

166,553

Business Acquisition, Goodwill, Expected Tax Deductible Amount

4,070,712

3,879,219

3,938,976

195,667

4,863

427,035

Payments to Acquire Businesses, Net of Cash Acquired

546,256

42,572

550,449

Asset Acquisition, Tax Deductible Goodwill, Expected

60,000

Goodwill, Purchase Accounting Adjustments

(2,573)

(18,477)

CECS

Subsequent proceeds from divestiture of businesses

41,546

BD Acquisition

Payments to Acquire Businesses, Net of Cash Acquired

539,758

Series of Individually Immaterial Business Acquisitions [Member]

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

417

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

1,497

2,405

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

654

12,342

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

2,131

Operating Lease, Right-of-Use Asset

667

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

177

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

2,602

30,185

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

2,369

4,863

7,544

52,770

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

(629)

(2,170)

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

(473)

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

(629)

(2,643)

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

6,915

50,127

Payments to Acquire Businesses, Net of Cash Acquired

6,498

$ 3,146

Business Combination Provisional Information Initial Accounting Incomplete Adjustment Net Assets Acquired

200

BD Acquisition

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

31,827

$ 27,006

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

7,864

6,755

Operating Lease, Right-of-Use Asset

1,737

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

303,000

303,598

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

197,067

202,399

541,495

539,758

Business Combination, Recognized Identifiable Asset Acquired and Liability Assumed, Lease Obligation

1,737

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

(1,737)

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

539,758

$ 539,758

Business Combination, Provisional Information, Initial Accounting Incomplete, Adjustment, Inventory

4,821

Business Combination, Provisional Information, Initial Accounting Incomplete, Adjustment, Property, Plant, and Equipment

1,109

Business Combination, Provisional Information, Initial Accounting Incomplete, Adjustment, Leases Right of Use Asset

1,737

Business Combination, Provisional Information, Initial Accounting Incomplete, Adjustment, Intangibles

(598)

Goodwill, Purchase Accounting Adjustments

(5,332)

Business Combination, Provisional Information, Initial Accounting Incomplete, Adjustment, Financial Assets

1,737

Business Combination Provisional Information Initial Accounting Incomplete Adjustment Net Assets Acquired

Business Combination, Provisional Information, Initial Accounting Incomplete, Adjustment, Financial Liabilities

1,737

Business Combination, Provisional Information, Initial Accounting Incomplete, Adjustment, Lease Liability

$ 1,737

BD Acquisition | Customer-Related Intangible Assets

Finite-Lived Intangible Asset, Useful Life

13 years

BD Acquisition | Patented Technology [Member]

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

$ 50,000

Finite-Lived Intangible Asset, Useful Life

13 years

BD Acquisition | Trademarks and Trade Names [Member]

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

$ 15,000

Finite-Lived Intangible Asset, Useful Life

15 years

Cantel Medical Corp.

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

$ 3,599,471

[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, refer to Note 3 titled, "Business Acquisitions and Divestitures."

Discontinued Operations - Summary of Pre-Tax Income of Discontinued Operations (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Mar. 31, 2024	Dec. 31, 2023	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Dec. 31, 2022	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2022
Cost of revenues:
Loss from discontinued operations, net of income tax	$ (154,301)	$ (7,658)	$ (4,451)	$ (6,791)	$ 4,765	$ (7,680)	$ (439,139)	$ (8,330)	$ (173,201)	$ (450,384)	$ (41,589)
Loss on classification as held for sale									(206,444)	0	0
Goodwill, Impairment Loss									0	490,565	0
Non-deductible goodwill impairment										207,367
UNITED STATES
Cost of revenues:
Goodwill, Impairment Loss										441,643
Other foreign locations [Member]
Cost of revenues:
Goodwill, Impairment Loss										48,922
Discontinued Operations, Held-for-Sale \| Discontinued Operations, Dental Segment
Revenues:
Product									407,027	421,573	361,661
Cost of revenues:
Product									226,934	242,607	228,306
Gross profit:									180,093	178,966	133,355
Selling, general, and administrative									199,511	208,213	184,271
Goodwill impairment loss									0	490,565	0
Research and development									2,960	3,104	1,281
Loss from operations									(22,378)	(522,916)	(52,197)
Non-operating expenses, net									(10)	(2)	(103)
Loss before income tax expense									(228,812)	(522,918)	(52,300)
Income tax benefit									(55,611)	(72,534)	(10,711)
Loss from discontinued operations, net of income tax									(173,201)	(450,384)	$ (41,589)
Loss accrued on classification as held for sale	$ (202,932)				$ 0				$ (202,932)	$ 0

Business Acquisitions and Divestitures Business Acquisitions and Divestitures (Notes)

12 Months Ended

Mar. 31, 2024

Business Combinations and Divestitures [Abstract]

Business Combination Disclosure [Text Block]

3. BUSINESS ACQUISITIONS AND DIVESTITURES

Fiscal 2024 Acquisitions

On August 2, 2023 we purchased the surgical instrumentation, laparoscopic instrumentation and sterilization container assets from Becton, Dickinson and Company (BD) (NYSE: BDX). The acquired assets from BD are being integrated into our Healthcare segment. The acquisition is being accounted for as a business combination in accordance with ASC 805.

The purchase price of the acquisition was $539,758. The acquisition also qualified for a tax benefit related to tax deductible goodwill, with a present value of approximately $60,000. The purchase price of the acquisition was financed with borrowings from our existing credit facility. For more information, refer to Note 8 titled, "Debt."

The table below summarizes the allocation of the purchase price to the net assets acquired from BD based on fair values at the acquisition date.


	September 30, 2023 (As Previously Reported)		Adjustments		March 31, 2024


Inventory	27,006		4,821		$	31,827
Property, plant, and equipment	6,755		1,109		7,864
Lease right-of-use assets, net	—		1,737		1,737

Intangible assets (1)	303,598		(598)		303,000
Goodwill	202,399		(5,332)		197,067
Total assets acquired	539,758		1,737		541,495
Lease obligations	—		1,737		1,737
Total liabilities assumed	—		1,737		1,737
Net assets acquired	$	539,758	$	—	$	539,758

In addition to the acquisition of BD, we completed two other tuck-in acquisitions during fiscal 2024, which expanded our product and service offerings in the AST and Healthcare segments. Total aggregate consideration was approximately $6,498, net of cash acquired.

Purchase price allocations are based on the latest draft valuations and remain preliminary. As we finalize the fair value of assets acquired and liabilities assumed, additional purchase price adjustments and associated deferred taxes may be recorded during the remaining measurement period, not to exceed one year from closing.

Fiscal 2023 Acquisitions

During fiscal 2023, we completed several tuck-in acquisitions which continued to expand our product and service offerings in the AST and Healthcare segments. Total aggregate consideration was approximately $49,842, including contingent consideration of $7,269.

Fiscal 2022 Acquisition of Cantel Medical LLC

On June 2, 2021, we acquired all outstanding equity interests in Cantel Medical LLC ("Cantel") through a U.S. subsidiary. Cantel, formerly headquartered in Little Falls, New Jersey, with approximately 3,700 employees, is a global provider of infection prevention products and services primarily to endoscopy and dental Customers.

We believe that the acquisition has strengthened STERIS’s leadership in infection prevention by bringing together two complementary businesses able to offer a broader set of Customers a more diversified selection of infection prevention, endoscopy and sterilization products and services. Additionally, the integration has resulted in cost savings from optimizing global back-office infrastructure, leveraging best-demonstrated practices across locations and eliminating redundant public company costs.

Cantel’s Dental business extended our business into a new Customer segment. This business was reported as the Dental segment, but has since been reclassified as held for sale and is presented as a discontinued operation. The rest of Cantel was integrated into our existing Healthcare and Life Sciences segments.

Total Purchase Consideration

The total consideration for Cantel Common Stock and stock equivalents was $3,599,471. The consideration was comprised of the following:


(shares in thousands)
Cash consideration $16.93 per Cantel share (42,816 shares)	$	716,412
Cash consideration for fractional shares	14
STERIS plc ordinary shares 14,297 shares at ($188.07 per share)	2,689,317
Consideration related to Cantel equity compensation programs	18,173

Consideration related to equity component of Cantel convertible debt	175,555
Total purchase consideration	$	3,599,471

In addition, STERIS assumed and repaid $721,284 of existing Cantel debt obligations and assumed Cantel's obligations associated with convertible senior notes issued on May 15, 2020, which is described in Note 8 titled, "Debt."

We funded the cash portion of the transaction consideration and repayment of a significant amount of Cantel’s existing debt obligations with a portion of the proceeds from new debt, which is described in Note 8 titled, "Debt."

Additional information regarding the Cantel acquisition is included in our consolidated financial statements included in our Annual Report on Form 10-K for the year ended March 31, 2023, which was filed with the SEC on May 26, 2023.

Other Fiscal 2022 Acquisitions

In addition to the acquisition of Cantel, we completed three other tuck-in acquisitions during fiscal 2022, which continued to expand our product and service offerings in the Healthcare segment. Total aggregate consideration for these transactions was approximately $3,146, net of cash acquired and including deferred consideration of $50.

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 2024 and 2023 acquisitions.


	Fiscal Year 2024 (1)		Fiscal Year 2023 (2)
(dollars in thousands)	Other Acquisitions (Excluding BD)		All Acquisitions
Cash	$	417	$	—
Accounts receivable	1,497		2,405
Inventory	654		12,342
Property, plant, and equipment	—		2,131
Lease right-of-use assets, net	—		667
Other assets	5		177
Intangible assets	2,602		30,185
Goodwill	2,369		4,863
Total assets	7,544		52,770
Current liabilities	(629)		(2,170)
Non-current liabilities	—		(473)
Total liabilities	(629)		(2,643)
Net assets	$	6,915	$	50,127

(1) Purchase price allocation is preliminary as of March 31, 2024, as valuations have not been finalized.

(2) The purchase price allocation for fiscal 2023 acquisitions include certain measurement period adjustments recorded during fiscal 2024, increasing net assets acquired by $200.

Goodwill is the excess of the consideration transferred over the net assets recognized and represents the expected revenue and cost synergies of the combined company and assembled workforce. The deductible portion of goodwill for tax purposes recognized as a result of the fiscal 2024, 2023 and fiscal 2022 acquisitions was $195,667, $4,863 and $427,035, respectively.

Acquisition related transaction and integration costs totaled $25,526, $23,486, and $201,905 for the fiscal years ended March 31, 2024, 2023, and 2022, respectively. Fiscal 2024 acquisition and integration expenses were primarily related to the acquisition of assets from BD while fiscal 2023 and 2022 acquisition and integration expenses were primarily related to the acquisition of Cantel. These costs are included in Selling, general, and administrative expenses in the Consolidated Statements of Income.

Divestitures

Fiscal 2024

On April 11, 2024, the Company announced its plan to sell its Dental segment for total cash consideration of $787,500, subject to customary adjustments. The transaction is structured as an equity sale. The sale is expected to close in the first quarter of fiscal 2025. The disposal of the Dental segment met the criteria to be presented as a discontinued operation during the fourth quarter of fiscal 2024. For more information refer to Note 4 titled "Discontinued Operations."

On April 1, 2024, we completed the sale of the Controlled Environment Certification Services business. In fiscal 2025, we recorded net proceeds of $41,546. The business generated approximately $35,000 in revenues during fiscal 2024.

Fiscal 2023

In April 2022, we entered into an Asset Purchase Agreement to sell certain assets of our Animal Health business to Veterinary Orthopedic Implants, LLC. We recorded net proceeds of $5,228 and recognized a pre-tax loss on the sale of $4,852 in the Selling, general, and administrative expenses line of the Consolidated Statements of Income. The business generated annual revenues of approximately $12,000.

Fiscal 2022

In December 2021, we entered into an Asset Purchase Agreement to sell our Renal Care business to Evoqua Water Technologies Corp., for cash consideration of approximately $196,000, subject to certain potential adjustments, including a customary working capital adjustment and contingent consideration of $12,300. We recognized a pre-tax gain on the sale of $4,919. The transaction closed on January 3, 2022. We acquired the Renal Care business as part of the Cantel transaction, which closed on June 2, 2021, and had been integrated into STERIS's Healthcare segment. The Renal Care business generated annual revenues of approximately $180,000. The proceeds from the sale received at closing were used to repay outstanding debt. During the third quarter of fiscal 2023, we received an additional $1,396 in working capital settlements related to the sale of this business. During the second quarter of fiscal 2024, we received an additional $9,458 out of escrow.

Benefit Plans (Amounts recognized in balance sheets) (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Mar. 31, 2023
Other Postretirement Benefit Plans, Defined Benefit
Defined Benefit Plan Disclosure [Line Items]
Liability, Defined Benefit Plan, Current	$ (994)	$ (1,121)
Liability, Defined Benefit Plan, Noncurrent	(5,159)	(6,070)
Liability, Defined Benefit Pension Plan	6,153	7,191
Assets for Plan Benefits, Defined Benefit Plan	0	0
Other Defined Benefit Pension Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Liability, Defined Benefit Plan, Current	0	0
Liability, Defined Benefit Plan, Noncurrent	(2,727)	(2,876)
Defined Benefit Plan, Amounts for Asset (Liability) Recognized in Statement of Financial Position	17,538
Liability, Defined Benefit Pension Plan		13,449
Assets for Plan Benefits, Defined Benefit Plan	$ 20,265	$ 16,325

Amount of asset, recognized in statement of financial position, for overfunded defined benefit pension and other postretirement plans.

Benefit Plans (Expected payments to be made to plan participants) (Details) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2022
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Gross Prescription Drug Subsidy Receipts Received (Deprecated 2017-01-31)	$ 339	$ 477
Other Defined Benefit Pension Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Benefit Obligation, Actuarial Gain (Loss)	(140)	(27,046)
Defined Benefit Plan, Expected Future Benefit Payment, Next Twelve Months	4,842
Defined Benefit Plan, Expected Future Benefit Payments in Year Two	4,761
Defined Benefit Plan, Expected Future Benefit Payments in Year Three	4,901
Defined Benefit Plan, Expected Future Benefit Payments in Year Four	5,017
Defined Benefit Plan, Expected Future Benefit Payments in Year Five	5,197
Defined Benefit Plan, Expected Future Benefit Payments in Five Fiscal Years Thereafter	28,137
Defined Benefit Plan, Amortization of Prior Service Cost (Credit)	47	48	$ 61
Other Postretirement Benefit Plans, Defined Benefit
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Benefit Obligation, Actuarial Gain (Loss)	(441)	(807)
Defined Benefit Plan, Expected Future Benefit Payment, Next Twelve Months	994
Defined Benefit Plan, Expected Future Benefit Payments in Year Two	890
Defined Benefit Plan, Expected Future Benefit Payments in Year Three	804
Defined Benefit Plan, Expected Future Benefit Payments in Year Four	712
Defined Benefit Plan, Expected Future Benefit Payments in Year Five	638
Defined Benefit Plan, Expected Future Benefit Payments in Five Fiscal Years Thereafter	2,268
Defined Benefit Plan, Amortization of Prior Service Cost (Credit)	$ 0	$ 0	$ (267)

Property, Plant and Equipment (Tables)

12 Months Ended

Mar. 31, 2024

Property, Plant and Equipment

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


March 31,	2024		2023
Land and land improvements (1)	$	90,134	$	77,757
Buildings and leasehold improvements	724,492		658,108
Machinery and equipment	1,075,082		959,952
Information systems	256,671		240,933
Radioisotope	692,642		637,920
Construction in progress (1)	500,106		472,206
Total property, plant, and equipment	3,339,127		3,046,876
Less: accumulated depreciation and depletion	(1,573,947)		(1,414,101)
Property, plant, and equipment, net	$	1,765,180	$	1,632,775

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

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, 2022	$	13,543
Liabilities incurred during the period	86
Liabilities settled during the period	(625)
Accretion expense and change in estimate	104
Foreign currency and other	23
Balance at March 31, 2023	$	13,131
Liabilities incurred during the period	253
Liabilities settled during the period	(144)
Accretion expense and change in estimate	311
Foreign currency and other	107
Balance at March 31, 2024	$	13,658

Debt 2017 Senior Notes (Details) € in Thousands, £ in Thousands	Mar. 31, 2024 USD ($)	Mar. 31, 2024 EUR (€)	Mar. 31, 2024 GBP (£)	Mar. 31, 2023 USD ($)	Apr. 01, 2021 USD ($)
Debt Instrument [Line Items]
Long-term Debt	$ 3,120,162,000			$ 3,018,655,000
Senior Notes
Debt Instrument [Line Items]
Debt Instrument, Face Amount					$ 1,350,000,000
Long-term Debt	751,433,000			750,302,000
STE 3.85% due 2024 Senior Notes
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
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
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
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
Debt Instrument [Line Items]
Debt Instrument, Face Amount	$ 100,000,000			100,000,000
Debt Instrument, Interest Rate, Stated Percentage	3.70%	3.70%	3.70%
STE 3.93% due 2027 Senior Notes
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
Debt Instrument [Line Items]
Debt Instrument, Face Amount	$ 64,708,000	€ 60,000		65,254,000
Debt Instrument, Interest Rate, Stated Percentage	1.86%	1.86%	1.86%
STE 4.03% due 2029 Senior Notes
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
Debt Instrument [Line Items]
Debt Instrument, Face Amount	$ 21,569,000	€ 20,000		21,752,000
Debt Instrument, Interest Rate, Stated Percentage	2.04%	2.04%	2.04%
STE 3.04% due 2029 Senior Notes
Debt Instrument [Line Items]
Debt Instrument, Face Amount	$ 56,799,000		£ 45,000	55,579,000
Debt Instrument, Interest Rate, Stated Percentage	3.04%	3.04%	3.04%
STE 2.30% due 2032 Senior Notes
Debt Instrument [Line Items]
Debt Instrument, Face Amount	$ 20,491,000	€ 19,000		20,664,000
Debt Instrument, Interest Rate, Stated Percentage	2.30%	2.30%	2.30%
STE 3.17% due 2032 Senior Notes
Debt Instrument [Line Items]
Debt Instrument, Face Amount	$ 37,866,000		£ 30,000	$ 37,053,000
Debt Instrument, Interest Rate, Stated Percentage	3.17%	3.17%	3.17%

Nature of Operations and Summary of Siginificant Accounting Policies (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Mar. 31, 2024	Dec. 31, 2023	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Dec. 31, 2022	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2022
Loss Contingencies [Line Items]
Deferred Revenue, Revenue Recognized									$ 66,690	$ 72,914
Interest Costs, Capitalized During Period									7,094	6,366
Interest Costs Incurred									144,351	107,956	$ 89,490
Interest Paid, Including Capitalized Interest, Operating and Investing Activities									142,167	108,470	84,696
Income Taxes Paid, Net									271,274	254,661	138,382
Advertising Expense									25,474	21,668	15,599
Proceeds from Income Tax Refunds									19,175	2,315	4,605
Revenue, Remaining Performance Obligation, Amount	$ 1,419,646								1,419,646
Cost of revenues	836,485	$ 737,698	$ 691,976	$ 654,382	$ 734,850	$ 634,244	$ 608,627	$ 577,819	2,920,541	2,555,540	2,340,396
Gross Profit	582,902	560,026	546,228	529,004	546,402	478,187	482,312	473,825	2,218,160	1,980,726	1,883,007
Operating Income (Loss)									836,118	791,101	477,815
Income Tax Expense (Benefit)	37,276	40,999	35,055	36,200	21,203	40,534	35,417	26,915	149,530	124,069	82,344
Income from continuing operations, net of income tax	(1,002)	140,945	116,346	123,790	186,964	123,325	(315,231)	110,755	380,079	105,813	242,870
Net Income (Loss) Attributable to Parent	$ (1,377)	$ 140,743	$ 115,319	$ 123,554	$ 187,225	$ 123,828	$ (315,285)	$ 111,262	$ 378,239	$ 107,030	$ 243,888
Earnings Per Share, Basic	$ (0.01)	$ 1.42	$ 1.17	$ 1.25	$ 1.89	$ 1.24	$ (3.15)	$ 1.11	$ 3.83	$ 1.07	$ 2.50
Earnings Per Share, Diluted	$ (0.01)	$ 1.42	$ 1.16	$ 1.25	$ 1.88	$ 1.24	$ (3.15)	$ 1.10	$ 3.81	$ 1.07	$ 2.48
Comprehensive Income (Loss), Net of Tax, Attributable to Parent									$ 370,292	$ (3,872)	$ 95,323
Inventory, Net	$ 674,535				$ 604,410				674,535	604,410
Retained earnings	$ 2,087,645				$ 1,911,533				2,087,645	1,911,533
Increase (Decrease) in Inventories									37,450	123,921	102,922
Accruals and other, net									39,955	(22,054)	(16,398)
Deferred income taxes									(131,412)	(185,913)	(106,620)
Product [Member]
Loss Contingencies [Line Items]
Cost of revenues									$ 1,516,082	$ 1,271,363	$ 1,191,619
Property, Plant and Equipment, Other Types [Member]
Loss Contingencies [Line Items]
Property, Plant and Equipment, Useful Life	20 years								20 years
Minimum [Member]
Loss Contingencies [Line Items]
Finite-Lived Intangible Assets, Useful Life, Minimum	5 years								5 years
Minimum [Member] \| Land Improvements [Member]
Loss Contingencies [Line Items]
Property, Plant and Equipment, Useful Life	3 years								3 years
Minimum [Member] \| Building [Member]
Loss Contingencies [Line Items]
Property, Plant and Equipment, Useful Life	2 years								2 years
Minimum [Member] \| Machinery and Equipment [Member]
Loss Contingencies [Line Items]
Property, Plant and Equipment, Useful Life	2 years								2 years
Minimum [Member] \| Computer Equipment [Member]
Loss Contingencies [Line Items]
Property, Plant and Equipment, Useful Life	2 years								2 years
Maximum [Member]
Loss Contingencies [Line Items]
Finite-Lived Intangible Assets, Useful Life, Minimum	20 years								20 years
Maximum [Member] \| Land Improvements [Member]
Loss Contingencies [Line Items]
Property, Plant and Equipment, Useful Life	40 years								40 years
Maximum [Member] \| Building [Member]
Loss Contingencies [Line Items]
Property, Plant and Equipment, Useful Life	50 years								50 years
Maximum [Member] \| Machinery and Equipment [Member]
Loss Contingencies [Line Items]
Property, Plant and Equipment, Useful Life	20 years								20 years
Maximum [Member] \| Computer Equipment [Member]
Loss Contingencies [Line Items]
Property, Plant and Equipment, Useful Life	20 years								20 years
Expected recognition within the next year [Member]
Loss Contingencies [Line Items]
Revenue, Remaining Performance Obligation, Percentage	56.00%								56.00%
Expected recognition beyond the next year [Member] [Member]
Loss Contingencies [Line Items]
Revenue, Remaining Performance Obligation, Percentage	33.00%								33.00%

Restructuring and Related Activities - Restructuring Expenses (Details) - USD ($)
$ in Thousands

12 Months Ended

Mar. 31, 2024

Mar. 31, 2023

Mar. 31, 2022

Fiscal 2024/2025 Restructuring Plan

^[1]

$ 44,365

$ 485

$ 48

Asset Impairment Charges | Fiscal 2024/2025 Restructuring Plan

44,390

Cost of Sales | Fiscal 2024/2025 Restructuring Plan

25,392

Employee Severance | Fiscal 2024/2025 Restructuring Plan

18,320

$ 678

[1]	For more information regarding our restructuring efforts, refer to Note 2 titled, "Restructuring."

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

Restructuring and Related Activities (Details)
$ in Thousands

12 Months Ended

Mar. 31, 2024

USD ($)

unit

Mar. 31, 2023

USD ($)

Mar. 31, 2022

USD ($)

Restructuring and related cost, expected number of positions eliminated | unit

300

Fiscal 2024/2025 Restructuring Plan

^[1]

$ 44,365

$ 485

$ 48

Restructuring and related cost, expected cost remaining

44,390

55,300

Fiscal 2024/2025 Restructuring Plan | Healthcare and Life Sciences [Member]

Fiscal 2024/2025 Restructuring Plan | Applied Sterilization Technologies

18,995

Fiscal 2024/2025 Restructuring Plan | Corporate and Other member [Member]

25,355

Fiscal 2024/2025 Restructuring Plan | Operating Expense

Fiscal 2024/2025 Restructuring Plan | Cost of Sales

26,070

Fiscal 2024/2025 Restructuring Plan | Restructuring Related To Health Care

18,320

Restructuring and related cost, expected cost remaining

51,300

Fiscal 2024/2025 Restructuring Plan | Restructuring Related To AST

Restructuring and related cost, expected cost remaining

3,000

Fiscal 2024/2025 Restructuring Plan | Restructuring Related To Life Sciences

Restructuring and related cost, expected cost remaining

800

Fiscal 2024/2025 Restructuring Plan | Restructuring Related To Corporate

Restructuring and related cost, expected cost remaining

200

Fiscal 2024/2025 Restructuring Plan | Employee Severance

Restructuring and related cost, expected cost remaining

678

36,200

Fiscal 2024/2025 Restructuring Plan | Contract Termination

Restructuring and related cost, expected cost remaining

15,300

Fiscal 2024/2025 Restructuring Plan | Restructuring Related To Accelerated Depreciation And Amortization

Restructuring and related cost, expected cost remaining

$ 3,800

[1]	For more information regarding our restructuring efforts, refer to Note 2 titled, "Restructuring."

Share-Based Compensation (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Item]
Remaining shares available for grant	2,370,422
Weighted-average assumptions used for options granted:
Risk-free interest rate	3.59%	2.44%	1.10%
Expected life of options	6 years	5 years 10 months 24 days	5 years 10 months 24 days
Exptected dividend yield of stock	1.08%	0.80%	0.95%
Expected volatility of stock	27.92%	24.49%	24.27%
Estimated forfeiture rate	2.22%	2.54%	2.85%
Summary of share option activity:
Number of Options, Outstanding, Beginning of Period	1,749,729
Weighted Average Exercise Price, Outstanding, Beginning of Period	$ 154.60
Number of Options, Granted	253,946
Weighted Average Exercise Price, Granted	$ 220.24
Number of Options, Exercised	(126,393)
Weighted Average Exercise Price, Exercised	$ 81.27
Number of Options, Forfeited	(7,411)
Weighted Average Exercise Price, Forfeited	$ 217.73
Number of Options, Outstanding, End of Period	1,869,871	1,749,729
Weighted Average Exercise Price, Outstanding, End of Period	$ 168.22	$ 154.60
Average Remaining Contractual Term, Outstanding	6 years
Aggregate Intrinsic Value, Outstanding	$ 111,633
Number of Options, Exercisable	1,270,907
Weighted Average Exercise Price, Exercisable	$ 142.42
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Remaining Contractual Term	4 years 10 months 24 days
Aggregate Intrinsic Value, Exercisable	$ 106,246
Non-vested stock options outstanding expected to vest	590,113
Common Stock, Fair Market Value Per Share	$ 224.82
Total intrinsic value of stock options exercised	$ 18,177	$ 6,502	$ 52,952
Net cash proceeds from the exercise of stock options	10,472	1,828	10,071
Tax benefit from stock option exercises	$ 5,470	$ 4,945	$ 18,143
Weighted average grant date fair value of stock option grants, per share	$ 54.60	$ 50.72	$ 37.52
Summary of non-vested restricted share activity:
Number of Restricted Shares, Non-vested at Beginning of Period	28,542
Number of Restricted Shares, Granted	18,476
Number of Restricted Shares, Vested	(17,041)
Number of Restricted Shares, Canceled	(1,629)
Number of Restricted Shares, Non-vested at End of Period	28,348	28,542
Unrecognized compensation cost related to nonvested share-based compensation granted	$ 60,130
Weighted average period for recognition of unrecognized compensation cost	1 year 8 months 12 days
Restricted Stock
Summary of non-vested restricted share activity:
Number of Restricted Shares, Non-vested at Beginning of Period	450,793
Weighted-Average Grant Date Fair Value, Non-vested at Beginning of Period	$ 186.60
Number of Restricted Shares, Granted	180,529
Weighted-Average Grant Date Fair Value, Granted	$ 202.13
Number of Restricted Shares, Vested	(148,283)
Weighted-Average Grant Date Fair Value, Vested	$ 164.14
Number of Restricted Shares, Canceled	(19,658)
Weighted-Average Grant Date Fair Value, Canceled	$ 196.29
Number of Restricted Shares, Non-vested at End of Period	463,381	450,793
Weighted-Average Grant Date Fair Value, Non-vested at End of Period	$ 200.04	$ 186.60
Fair Value, Share-based Payment Awards, Other than Options	$ 27,149
RSUs Cantel
Summary of non-vested restricted share activity:
Number of Restricted Shares, Non-vested at Beginning of Period	15,670
Weighted-Average Grant Date Fair Value, Non-vested at Beginning of Period	$ 191.18
Number of Restricted Shares, Granted	0
Weighted-Average Grant Date Fair Value, Granted	$ 0
Number of Restricted Shares, Vested	(14,763)
Weighted-Average Grant Date Fair Value, Vested	$ 191.18
Number of Restricted Shares, Canceled	(762)
Weighted-Average Grant Date Fair Value, Canceled	$ 191.18
Number of Restricted Shares, Non-vested at End of Period	145	15,670
Weighted-Average Grant Date Fair Value, Non-vested at End of Period	$ 191.18	$ 191.18
Unrecognized compensation cost related to nonvested share-based compensation granted	$ 3

Additional Consolidated Balance Sheets Information (Tables)

12 Months Ended

Mar. 31, 2024

Schedule of Accrued Liabilities

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


March 31,	2024		2023
Accrued payroll and other related liabilities:
Compensation and related items	$	48,152	$	43,960
Accrued vacation/paid time off	16,140		13,348
Accrued bonuses	61,669		31,096
Accrued employee commissions	35,980		26,924
Other post-retirement benefits obligations-current portion	994		1,121
Other employee benefit plans' obligations-current portion	1,896		2,014
Total accrued payroll and other related liabilities	$	164,831	$	118,463
Accrued expenses and other:
Deferred revenues	$	70,460	$	85,727
Service liabilities	92,590		72,033
Self-insured and related risk reserves-current portion	13,303		11,325
Accrued dealer commissions	33,277		27,078
Accrued warranty	15,388		13,394
Asset retirement obligation-current portion	510		543
Accrued interest	11,109		9,243
Other	83,107		78,689
Total accrued expenses and other	$	319,744	$	298,032
Other liabilities:
Self-insured risk reserves-long-term portion	$	21,646	$	22,171
Other post-retirement benefits obligations-long-term portion	5,159		6,070
Defined benefit pension plans obligations-long-term portion	2,727		2,876
Other employee benefit plans obligations-long-term portion	1,321		1,153
Accrued long-term income taxes	6,508		10,082
Asset retirement obligation-long-term portion	13,148		12,588
Other	21,037		21,197
Total other liabilities	$	71,546	$	76,137

Schedule II - Valuation and Qualifying Accounts

12 Months Ended

Mar. 31, 2024

SEC Schedule, 12-09, Valuation and Qualifying Accounts [Abstract]

SEC Schedule, 12-09, Schedule of Valuation and Qualifying Accounts Disclosure

SCHEDULE II – VALUATION AND QUALIFYING ACCOUNTS


Description	Balance at Beginning of Period		Charges to Costs and Expenses			Charges to Other Accounts			Deductions			Balance at End of Period
(in thousands)
Year ended March 31, 2024
Deducted from asset accounts:
Allowance for credit losses (1)	$	19,284	$	11,240		$	(96)	(3)	$	(7,444)	(4)	$	22,984
Inventory valuation reserve	35,601		8,204		(2)	88		(3)	—			43,893
Deferred tax asset valuation allowance	20,315		6,765			52		(3)	(758)			26,374
Recorded within liabilities:
Casualty loss reserves	$	30,437	$	7,884		$	(2,389)		$	(5,196)		$	30,736
Year ended March 31, 2023
Deducted from asset accounts:
Allowance for credit losses (1)	$	19,875	$	6,991		$	247	(3)	$	(7,829)	(4)	$	19,284
Inventory valuation reserve	22,617		12,652		(2)	332		(3)	—			35,601
Deferred tax asset valuation allowance	24,691		1,733			(530)		(3)	(5,579)			20,315
Recorded within liabilities:
Casualty loss reserves	$	26,126	$	7,829		$	2,040		$	(5,558)		$	30,437
Year ended March 31, 2022
Deducted from asset accounts:
Allowance for trade accounts receivable (1)	$	11,355	$	12,962		$	665	(3)	$	(5,107)	(4)	$	19,875
Inventory valuation reserve	19,778		2,611		(2)	228		(3)	—			22,617
Deferred tax asset valuation allowance	14,143		2,888			8,906		(3)	(1,246)			24,691
Recorded within liabilities:
Casualty loss reserves	$	23,283	$	7,069		$	44		$	(4,270)		$	26,126

(1) Net allowance for credit losses and allowance for sales and returns.

(2) Provision for excess and obsolete inventory, net of inventory written off.

(3) Change in foreign currency exchange rates and acquired reserves.

(4) Uncollectible accounts written off, net of recoveries.

Benefit Plans (Amortize pre-tax amount AOCI) (Details) $ in Thousands	12 Months Ended
	Mar. 31, 2024 USD ($)
Defined Benefit Plan Disclosure [Line Items]
Other Comprehensive Income (Loss), Defined Benefit Plan, Gain (Loss) Arising During Period, before Tax	$ 3,982
Defined Benefit Plan, Accumulated Other Comprehensive (Income) Loss, before Tax	$ (584)

Discontinued Operations

12 Months Ended

Mar. 31, 2024

Discontinued Operations and Disposal Groups [Abstract]

Discontinued Operations

4. DISCONTINUED OPERATIONS

The Company concluded that our Dental segment met the criteria to be classified as held for sale. On April 11, 2024, the Company announced its plan to sell its Dental segment for total cash consideration of $787,500, subject to customary adjustments, and up to an additional $12,500 in contingent payment should the Dental business achieve certain revenue targets in fiscal 2025. The transaction is structured as an equity sale. A component of an entity is reported in discontinued operations after meeting the criteria for held for sale classification if the disposition represents a strategic shift that has (or will have) a major effect on the entity's operations and financial results. We analyzed the quantitative and qualitative factors relevant to the divestiture of our Dental segment and determined that those conditions for discontinued operations presentation had been met prior to March 31, 2024. The Dental segment results of operations have been reclassified to income (loss) from discontinued operations in the Consolidated Statements of Income (Loss), and we have classified our Dental segment assets and liabilities as held for sale for all periods presented in the accompanying Consolidated Balance Sheets. Our Consolidated Statements of Cash Flows include the financial results of the Dental segment for all periods presented. Proceeds received from the sale will be used to pay off existing debt.

The following tables summarize the major classes of assets and liabilities of the Dental segment that were classified as held for sale in the Consolidated Balance Sheets as of March 31, 2024 and 2023:


	2024		2023
Assets
Assets held for sale:

Accounts receivable, net	48,590		63,327
Inventories, net	89,345		91,083
Property, plant, and equipment, net	73,395		72,737
Lease right-of-use assets, net	22,822		25,188
Intangibles, net	770,731		879,081
Prepaid expenses and other assets	2,953		3,423
Loss accrued on classification as held for sale	(202,932)		—
Total assets held for sale	$	804,904	$	1,134,839
Liabilities
Liabilities held for sale:
Accounts payable	$	10,580	$	15,455
Accrued income taxes	433		3,327
Accrued payroll and other related liabilities	13,683		7,179
Lease obligations	23,722		25,832

Accrued expenses and other	15,594		19,785
Total liabilities held for sale	$	64,012	$	71,578


	2024		2023

Assets held for sale:
Current	$	804,904	$	157,580
Non-current	—		977,259

Liabilities held for sale:
Current	$	64,012	$	50,642
Non-current	—		20,936

As of March 31, 2024, the Dental segment met the held for sale criteria, and the sale is expected to be completed in the first quarter of fiscal 2025. As a result, all assets and liabilities during the period are reported as current.

The following table summarizes the major line items constituting income (loss) of discontinued operations associated with the Dental segment for the years ended March 31, 2024, 2023, and 2022:


Years Ended March 31,	2024		2023		2022

Revenues:
Product	$	407,027	$	421,573	$	361,661
Cost of revenues:
Product	226,934		242,607		228,306
Gross profit:	180,093		178,966		133,355
Operating expenses:
Selling, general, and administrative	199,511		208,213		184,271
Goodwill impairment loss	—		490,565		—
Research and development	2,960		3,104		1,281
Loss from operations	(22,378)		(522,916)		(52,197)
Non-operating expenses, net	(10)		2		103
Pre-tax loss on classification as held for sale (1)	(206,444)		—		—
Loss before income tax expense	(228,812)		(522,918)		(52,300)
Income tax benefit	(55,611)		(72,534)		(10,711)
Loss from discontinued operations, net of income tax	$	(173,201)	$	(450,384)	$	(41,589)

(1) Amount includes additional transaction costs and the estimated accrued loss totaling $202,932 included in held for sale as of March 31, 2024

In connection with the preparation of our second quarter consolidated financial statements in fiscal 2023, we considered the risk of impairment due to deteriorating macroeconomic conditions including rising interest rates and inflationary pressures on material and labor costs, as well as uncertainty regarding the impact such economic strains will have on patient and Customer behavior in the short-term. Our conclusion, based on the qualitative assessment of these factors, was that it was more likely than not that the goodwill allocated to the Dental segment as of September 30, 2022 was impaired.

Our quantitative analysis to measure the extent of goodwill impairment compared the estimated fair value to the carrying value of the Dental segment. The fair value is estimated as the present value of future cash flows. Future cash flow projections are consistent with those used in our forecasting and strategic planning processes. The determination of the discount rate requires judgement and assumptions to be developed about the weighted average cost of capital that market participants would employ in evaluating the current fair value of the business. The macroeconomic factors that triggered the interim review are also the drivers of the increase in the weighted average cost of capital assumption.

We concluded that the estimated fair value of the Dental segment was below the carrying value and recognized a non-cash goodwill impairment charge of $490,565.

The effective income tax rates for the years ended March 31, 2024, 2023, and 2022 were 24.3%, 13.9%, and 20.5%, respectively. In fiscal 2023, the impairment of goodwill impacted the operations in the United States and other locations by $441,643 and $48,922, respectively. Approximately $207,367 of this impairment was non-deductible.

Significant non-cash operating items and capital expenditures related to discontinued operations are reflected in the statement of cash flows as follows:


	2024		2023		2022
Operating activities of discontinued operations:
Depreciation, depletion, and amortization (1)	$	115,177	$	130,367	$	120,957
Goodwill impairment loss	—		490,565		—
Investing activities of discontinued operations:
Purchases of property, plant, equipment, and intangibles, net	$	(9,150)	$	(9,470)	$	(4,726)

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2022
Consolidated Statements of Comprehensive Income [Abstract]
Income from continuing operations, net of income tax	$ 380,079	$ 105,813	$ 242,870
Less: Net income (loss) attributable to noncontrolling interests	1,840	(1,217)	(1,018)
Net income attributable to shareholders	378,239	107,030	243,888
Pension and postretirement benefit plan changes (net of taxes of $X, $521, and $507, respectively)	(736)	(1,264)	6,795
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Gain (Loss) Arising During Period, Net of Tax	(7,211)	(109,638)	(155,360)
Total other comprehensive loss attributable to shareholders	(7,947)	(110,902)	(148,565)
Comprehensive Income (Loss), Net of Tax, Attributable to Parent	$ 370,292	$ (3,872)	$ 95,323

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(g)(1)(ii))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 323
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481687/323-10-50-3

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 825
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 28
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482907/825-10-50-28

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482765/220-10-50-6

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-3

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (b)(2)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 1
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480175/815-40-65-1

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 8
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-8

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 9
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-9

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 11
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-11

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 11
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-11

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 4
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-4

Reference 13: http://www.xbrl.org/2003/role/exampleRef
-Topic 946
-SubTopic 830
-Name Accounting Standards Codification
-Section 55
-Paragraph 10
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480167/946-830-55-10

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section 45
-Paragraph 7
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483581/946-220-45-7

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(18))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483586/944-220-S99-1

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-22

Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.6-07(9))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483575/946-220-S99-1

Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 3
-Subparagraph (SX 210.6-09(1)(d))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483575/946-220-S99-3

Reference 19: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(i))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1A

Reference 20: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(ii))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1A

Reference 21: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(iii)(A))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1A

Reference 22: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(iv))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1A

Reference 23: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(5))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1A

Reference 24: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(i))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1B

Reference 25: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iii)(A))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1B

Reference 26: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iii)(B))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1B

Reference 27: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iv))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1B

Reference 28: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(5))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1B

Reference 29: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 30
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-30

Reference 30: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 31: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 60B
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482689/260-10-45-60B

Reference 32: http://www.xbrl.org/2003/role/exampleRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 31
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-31

Reference 33: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 34: http://www.xbrl.org/2003/role/disclosureRef
-Topic 205
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 7
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483499/205-20-50-7

Reference 35: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 230
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 28
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482740/230-10-45-28

Reference 36: http://www.xbrl.org/2003/role/disclosureRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 1A
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482790/220-10-45-1A

Reference 37: http://www.xbrl.org/2003/role/disclosureRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 1B
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482790/220-10-45-1B

Reference 38: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(20))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483621/220-10-S99-2

Reference 39: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 942
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-04(22))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483589/942-220-S99-1

Amount of Net Income (Loss) attributable to noncontrolling interest.

The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest.

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(g)(1)(ii))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 323
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481687/323-10-50-3

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 825
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 28
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482907/825-10-50-28

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (b)(2)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-1

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 1
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480175/815-40-65-1

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 8
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-8

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 9
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-9

Reference 8: http://www.xbrl.org/2003/role/exampleRef
-Topic 946
-SubTopic 830
-Name Accounting Standards Codification
-Section 55
-Paragraph 11
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480167/946-830-55-11

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 205
-Name Accounting Standards Codification
-Section 45
-Paragraph 3
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480767/946-205-45-3

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section 45
-Paragraph 7
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483581/946-220-45-7

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(16))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483586/944-220-S99-1

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-22

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.6-07(9))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483575/946-220-S99-1

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 3
-Subparagraph (SX 210.6-09(1)(d))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483575/946-220-S99-3

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Topic 810
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 19
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481231/810-10-45-19

Reference 16: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482765/220-10-50-6

Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(i))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1A

Reference 18: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(ii))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1A

Reference 19: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(iii)(A))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1A

Reference 20: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(iv))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1A

Reference 21: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(5))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1A

Reference 22: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(i))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1B

Reference 23: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iii)(A))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1B

Reference 24: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iii)(B))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1B

Reference 25: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iv))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1B

Reference 26: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(5))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1B

Reference 27: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 30
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-30

Reference 28: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 29: http://www.xbrl.org/2003/role/exampleRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 31
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-31

Reference 30: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 31: http://www.xbrl.org/2003/role/disclosureRef
-Topic 942
-SubTopic 235
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-05(b)(2))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479557/942-235-S99-1

Reference 32: http://www.xbrl.org/2003/role/disclosureRef
-Topic 205
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 7
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483499/205-20-50-7

Reference 33: http://www.xbrl.org/2003/role/exampleRef
-Topic 810
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 4J
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481175/810-10-55-4J

Reference 34: http://www.xbrl.org/2003/role/exampleRef
-Topic 810
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 4K
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481175/810-10-55-4K

Reference 35: http://www.xbrl.org/2003/role/disclosureRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 1A
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482790/220-10-45-1A

Reference 36: http://www.xbrl.org/2003/role/disclosureRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 1B
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482790/220-10-45-1B

Reference 37: http://www.xbrl.org/2003/role/disclosureRef
-Topic 230
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482740/230-10-45-2

Reference 38: http://www.xbrl.org/2003/role/disclosureRef
-Topic 810
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1A
-Subparagraph (a)(1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481203/810-10-50-1A

Reference 39: http://www.xbrl.org/2003/role/disclosureRef
-Topic 810
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1A
-Subparagraph (c)(1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481203/810-10-50-1A

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

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

12 Months Ended

Mar. 31, 2024

Mar. 31, 2023

Mar. 31, 2022

Document Period End Date

Mar. 31, 2024

Equity Securities, FV-NI, Gain (Loss)

$ 1,060

$ (1,176)

Business Acquisition, Contingent Consideration, at Fair Value

11,000

15,678

$ 10,550

Fair Value, Inputs, Level 1

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

2,902

2,066

Foreign Currency Contract, Asset, Fair Value Disclosure

207,020

208,357

^[1]

Equity Securities, FV-NI

^[2]

4,767

7,069

Foreign Currency Contracts, Liability, Fair Value Disclosure

^[1]

^[2]

1,186

1,022

Business Acquisition, Contingent Consideration, at Fair Value

^[3]

^[4]

Fair Value, Inputs, Level 2

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

Foreign Currency Contract, Asset, Fair Value Disclosure

^[1]

208

378

Foreign Currency Contracts, Liability, Fair Value Disclosure

^[1]

1,014

2,054

^[2]

Business Acquisition, Contingent Consideration, at Fair Value

^[3]

2,895,784

2,754,218

^[4]

Fair Value, Inputs, Level 3

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

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]

11,000

15,678

Additions [Member]

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

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

1,313

8,302

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

(24)

Reductions and Payout

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

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

(5,967)

(80)

Reductions [Member]

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

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

(3,100)

Cost of Sales

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

Gain (Loss) on Sale of Commodity Contracts

(1,611)

(3,630)

$ 3,921

Reported Value Measurement [Member]

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

2,902

2,066

Foreign Currency Contract, Asset, Fair Value Disclosure

207,020

208,357

^[1]

208

378

Equity Securities, FV-NI

^[2]

4,767

7,069

Foreign Currency Contracts, Liability, Fair Value Disclosure

^[1]

1,014

2,054

^[2]

1,186

1,022

Business Acquisition, Contingent Consideration, at Fair Value

^[3]

3,206,100

3,078,655

^[4]

11,000

$ 15,678

Reported Value Measurement [Member] | Servizi

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

Equity Securities, FV-NI

$ 3,342

[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)). Changes in the fair value of these investments are recorded in the Interest income and miscellaneous (income) expense line of the Consolidated Statement of Income. During fiscal 2024 and fiscal 2023, we recorded gains (losses) of $1,060 and $(1,176), respectively, related to these investments. In addition, during fiscal 2024 we sold one of our equity investments which had a value of $3,342.
[3]	We estimate the fair value of our debt using discounted cash flow analyses, based on our current incremental borrowing rates for similar types of borrowing arrangements. The fair values of our Senior Public Notes are estimated using quoted market prices for the publicly registered Senior Notes.
[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.

Contingencies (Details) - USD ($) $ in Thousands	12 Months Ended
Contingencies (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2022
Loss Contingencies [Line Items]
Operating Lease, Weighted Average Remaining Lease Term	9 years 10 months 24 days	10 years 7 months 6 days
Operating Lease, Payments	$ 46,946	$ 45,249	$ 45,144
Fixed Operating Lease Expense	41,330	39,473	40,513
Commitments and Contingencies
Letters of credit as security for self insurance risk and retention policies	9,975	8,036
Purchase Commitment, Remaining Minimum Amount Committed	61,941
Variable Operating Lease Expense	24,441	18,581	12,032
Operating Lease, Expense	65,771	58,054	52,545
Right-of-Use Asset Obtained in Exchange for Operating Lease Liability	24,668	$ 53,099	$ 79,241
Lessee, Operating Lease, Liability, Payments, Due Year Two	32,598
Lessee, Operating Lease, Liability, Payments, Due Year Three	23,094
Lessee, Operating Lease, Liability, Payments, Due Year Five	18,662
Lessee, Operating Lease, Liability, Payments, Due after Year Five	104,609
Lessee, Operating Lease, Liability, Payments, Due	216,910
Lessee, Operating Lease, Liability, Undiscounted Excess Amount	$ 39,843
Operating Lease, Weighted Average Discount Rate, Percent	4.40%	3.80%
Operating Lease, Liability	$ 177,067
Lessee, Operating Lease, Liability, to be Paid, Year One	37,947
Commercial commitments [Member]
Loss Contingencies [Line Items]
Commitments and Contingencies	110,402	$ 108,370
Long term Construction Contracts [Member] [Member]
Loss Contingencies [Line Items]
Commitments and Contingencies	$ 154,125

Nature of Operations and Summary of Significant Accounting Policies - Change in Accounting Principle (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Mar. 31, 2024	Dec. 31, 2023	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Dec. 31, 2022	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2022
Loss Contingencies [Line Items]
Cost of revenues	$ 836,485	$ 737,698	$ 691,976	$ 654,382	$ 734,850	$ 634,244	$ 608,627	$ 577,819	$ 2,920,541	$ 2,555,540	$ 2,340,396
Gross Profit	582,902	560,026	546,228	529,004	546,402	478,187	482,312	473,825	2,218,160	1,980,726	1,883,007
Operating Income (Loss)									836,118	791,101	477,815
Income Tax Expense (Benefit)	37,276	40,999	35,055	36,200	21,203	40,534	35,417	26,915	149,530	124,069	82,344
Income from continuing operations, net of income tax	(1,002)	140,945	116,346	123,790	186,964	123,325	(315,231)	110,755	380,079	105,813	242,870
Net Income (Loss) Attributable to Parent	$ (1,377)	$ 140,743	$ 115,319	$ 123,554	$ 187,225	$ 123,828	$ (315,285)	$ 111,262	$ 378,239	$ 107,030	$ 243,888
Earnings Per Share, Basic	$ (0.01)	$ 1.42	$ 1.17	$ 1.25	$ 1.89	$ 1.24	$ (3.15)	$ 1.11	$ 3.83	$ 1.07	$ 2.50
Earnings Per Share, Diluted	$ (0.01)	$ 1.42	$ 1.16	$ 1.25	$ 1.88	$ 1.24	$ (3.15)	$ 1.10	$ 3.81	$ 1.07	$ 2.48
Comprehensive Income (Loss), Net of Tax, Attributable to Parent									$ 370,292	$ (3,872)	$ 95,323
Inventory, Net	$ 674,535				$ 604,410				674,535	604,410
Retained earnings	$ 2,087,645				$ 1,911,533				2,087,645	1,911,533
Increase (Decrease) in Inventories									(37,450)	(123,921)	(102,922)
Accruals and other, net									39,955	(22,054)	(16,398)
Deferred income taxes									(131,412)	(185,913)	(106,620)
Product [Member]
Loss Contingencies [Line Items]
Cost of revenues									$ 1,516,082	$ 1,271,363	$ 1,191,619

Goodwill and Intangible Assets

12 Months Ended

Mar. 31, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

5. GOODWILL AND INTANGIBLE ASSETS

Changes to the carrying amount of goodwill for the years ended March 31, 2024 and 2023 were as follows:


	Healthcare Segment		AST Segment		Life Sciences Segment		Total
Balance at March 31, 2022	2,326,830		1,432,858		179,288		3,938,976
Goodwill acquired	6,221		803		—		7,024
Measurement period adjustments to acquired goodwill	(21,624)		—		3,147		(18,477)

Divestiture	(2,358)		—		—		(2,358)
Foreign currency translation adjustments and other	(7,796)		(37,527)		(623)		(45,946)
Balance at March 31, 2023	$	2,301,273	$	1,396,134	$	181,812	$	3,879,219
Goodwill acquired	199,452		634		—		200,086
Measurement period adjustments to acquired goodwill	(2,573)		—		—		(2,573)


Foreign currency translation adjustments and other	2,758		(9,139)		361		(6,020)
Balance at March 31, 2024	$	2,500,910	$	1,387,629	$	182,173	$	4,070,712

See Note 3 titled, "Business Acquisitions and Divestitures," for additional information regarding our recent business acquisitions and divestitures.

We evaluate the recoverability of recorded goodwill and indefinite-lived intangible assets annually during the third fiscal quarter, or when indicators of potential impairment exist. Our goodwill is assessed at the reporting unit level which is equivalent to the Company's reportable operating segments.

During our annual reviews for fiscal 2024, 2023, and 2022, there were no indicators that impairment of goodwill or indefinite-lived intangible assets was more likely than not.

Identifiable intangible assets are also reviewed for impairment when events 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 conduct this review on an ongoing basis, and, if impairment exists, we record the loss in the Consolidated Statements of Income during that period.

When we evaluate these assets for impairment, we make certain judgments and estimates, including interpreting current economic indicators and market valuations, evaluating our strategic plans with regards to operations, historical and anticipated performance of operations, and other factors. It is possible that unfavorable developments related to these factors in the near term could result in an impairment loss relative to intangible assets. Such an impairment loss may be material to our results of operations in the period recorded.

Information regarding our intangible assets is as follows:


	2024				2023
March 31,	Gross Carrying Amount		Accumulated Amortization		Gross Carrying Amount		Accumulated Amortization
Customer relationships	$	2,552,913	$	863,662	$	2,313,441	$	658,569
Non-compete agreements	15,511		15,234		15,486		14,202
Patents and technology	516,457		278,492		461,539		237,939
Trademarks and tradenames	251,098		90,362		235,554		72,405
Supplier relationships	54,800		23,747		54,800		21,006

Total	$	3,390,779	$	1,271,497	$	3,080,820	$	1,004,121

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, 2024 and March 31, 2023 was $14,250. 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 years 2024, 2023 or 2022.

Total amortization expense for intangible assets was $268,319, $259,676, and $264,607 for the years ended March 31, 2024, 2023, and 2022, 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:


	2025		2026		2027		2028		2029
Estimated amortization expense	$	270,365	$	261,498	$	255,383	$	250,617	$	248,061

The estimated annual amortization expense presented in the preceding table has been calculated based upon March 31, 2024 currency exchange rates.

Income Tax Expense (Details) - USD ($)
$ / shares in Units, $ in Thousands

3 Months Ended

12 Months Ended

Mar. 31, 2024

Dec. 31, 2023

Sep. 30, 2023

Jun. 30, 2023

Mar. 31, 2023

Dec. 31, 2022

Sep. 30, 2022

Jun. 30, 2022

Mar. 31, 2024

Mar. 31, 2023

Mar. 31, 2022

Income Tax Examination, Penalties and Interest Accrued

$ 143

$ 140

$ 143

$ 140

Unrecognized Tax Benefits that Would Impact Effective Tax Rate

2,293

Uncertain Tax Liability Resulting From IRS Notice

50,000

Deferred Tax Assets, Tax Credit Carryforwards

33,297

Deferred Tax Assets, Tax Deferred Expense, Compensation and Benefits, Postretirement Benefits

1,480

1,737

$ 1,480

$ 1,737

Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate

12.50%

Current Federal Tax Expense (Benefit)

$ 7,639

$ 8,837

$ 12,002

Effective Income Tax Rate, Continuing Operations

21.30%

18.20%

22.40%

Unrecognized Tax Benefits

2,150

2,230

$ 2,150

$ 2,230

$ 2,160

Current State and Local Tax Expense (Benefit)

26,230

31,073

20,925

Current Income Tax Expense (Benefit)

218,650

228,125

168,619

Deferred Federal Income Tax Expense (Benefit)

(923)

(864)

(739)

Deferred State and Local Income Tax Expense (Benefit)

(11,222)

(43,843)

(15,108)

Increase (Decrease) in Deferred Income Taxes

(69,120)

(104,056)

(86,275)

Income Tax Expense (Benefit)

37,276

$ 40,999

$ 35,055

$ 36,200

21,203

$ 40,534

$ 35,417

$ 26,915

$ 149,530

$ 124,069

$ 82,344

Effective Income Tax Rate Reconciliation, State and Local Income Taxes

2.20%

(1.10%)

1.60%

Effective Income Tax Rate Reconciliation, Change in Deferred Tax Assets Valuation Allowance, Percent

0.90%

0.00%

0.70%

Effective Tax Rate Reconciliation, Increase (decrease) in Valuation Allowances

0.00%

0.10%

Effective Income Tax Rate Reconciliation, Tax Credit, Research, Percent

(0.70%)

(0.40%)

(0.70%)

Effective Income Tax Rate Reconciliation, Tax Credits, Foreign

(0.90%)

(0.80%)

(1.80%)

Effective Income Tax Rate Reconciliation, Foreign Income Tax Rate Differential

8.50%

8.90%

14.20%

Effective Tax Rate Reconciliation, UK Tax Rate Differential

0.10%

0.00%

Effective Income Tax Rate Reconciliation, Tax Expense (Benefit), Share-based Payment Arrangement, Percent

(0.70%)

(0.60%)

(4.30%)

Effective Tax Reconciliation, deferred tax assets and liabilities

(0.30%)

0.00%

U.S. tax reform impact GILTI and FDII

(0.20%)

(0.30%)

(0.80%)

Capitalized Interest Costs- Effective tax rate

0.00%

1.50%

Effective Income Tax Rate Reconciliation, Other Adjustments

(0.10%)

0.00%

(0.60%)

Unrecognized Tax Benefits, Increases Resulting from Current Period Tax Positions

$ 0

$ 70

Unrecognized Tax Benefits, Decrease Resulting from Current Period Tax Positions

(80)

Deferred Tax Assets, Tax Deferred Expense, Compensation and Benefits

19,582

15,858

19,582

15,858

Deferred Tax Assets, Operating Loss Carryforwards

8,026

Deferred Tax Assets, Tax Deferred Expense, Reserves and Accruals, Accrued Liabilities

13,667

13,150

13,667

13,150

Deferred Tax Assets, Tax Deferred Expense, Reserves and Accruals, Self Insurance

2,817

2,268

2,817

2,268

Deferred Tax Assets, Deferred Income

20,393

23,967

20,393

23,967

Deferred Tax Assets, Tax Deferred Expense, Reserves and Accruals, Allowance for Doubtful Accounts

3,868

3,763

3,868

3,763

Deferred Tax Assets, in Process Research and Development

28,347

15,382

28,347

15,382

Deferred Tax Assets, Operating leases

47,625

46,781

47,625

46,781

Deferred Tax Assets, Tax Credit Carryforwards, Foreign

32,137

33,559

32,137

33,559

Deferred Tax Liabilities, Leasing Arrangements

46,657

45,834

46,657

45,834

Deferred Tax Assets, Other

21,258

11,701

21,258

11,701

Deferred Tax Assets, Gross, Current

228,270

205,833

228,270

205,833

Deferred Tax Assets, Valuation Allowance

26,374

20,315

26,374

20,315

Deferred Tax Assets, Net of Valuation Allowance

201,896

185,518

201,896

185,518

Deferred Tax Liabilities, Property, Plant and Equipment

92,358

98,601

92,358

98,601

Deferred Tax Liabilities, Goodwill and Intangible Assets, Intangible Assets

518,814

630,589

518,814

630,589

Deferred Tax Liabilities, Pension

3,889

2,644

3,889

2,644

Deferred Tax and Other Liabilities, Noncurrent

2,559

3,186

2,559

3,186

Deferred tax liabilities, net of deferred tax assets

664,277

780,854

664,277

780,854

Deferred Tax Liabilities

(462,381)

(595,336)

(462,381)

(595,336)

Deferred Tax Assets, Operating Loss Carryforwards, Foreign

128,159

Deferred Tax Assets, Operating Loss Carryforwards, State and Local

2,269

Valuation Allowance, Deferred Tax Asset, Change in Amount

6,059

Deferred Tax Assets, Operating Loss Carryforwards

37,096

37,667

37,096

37,667

Undistributed Earnings of Foreign Subsidiaries

2,850,000

Deferred tax Asset Credit Carryforward, German Branches

23,954

Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest

$ 190,575

$ 189,602

$ 155,852

$ 166,781

$ 203,402

$ 171,539

$ 159,325

$ 146,000

702,810

680,266

$ 366,803

Income Tax Examination, Estimate of Possible Loss

12,000

^[1]

44,365

485

Effective Income Tax Rate Reconciliation, Tax Expense (Benefit), Changes In State And Local Tax Rates Applied

^[2]

25,526

23,486

201,905

23,389

Business Combination, Non-Deductible Costs

67,000

UNITED STATES

205,788

Other Locations

Valuation Allowance, Deferred Tax Asset, Change in Amount

2,600

Costa Rica Exempt thorugh 2025 and partially exempt through 2029 [Member]

Income Tax Holiday, Aggregate Dollar Amount

$ 4,800

Income Tax Holiday, Income Tax Benefits Per Share

$ 0.05

UNITED STATES

Income (Loss) from Continuing Operations before Income Taxes, Foreign

$ 491,890

451,901

127,507

Current Foreign Tax Expense (Benefit)

133,498

128,793

81,111

Deferred Foreign Income Tax Expense (Benefit)

(43,484)

(39,030)

(63,087)

Other Foreign Entities [Member]

Income (Loss) from Continuing Operations before Income Taxes, Foreign

159,410

165,701

151,218

Current Foreign Tax Expense (Benefit)

51,283

59,422

54,581

Deferred Foreign Income Tax Expense (Benefit)

(13,491)

(20,319)

(7,341)

IRELAND

Income (Loss) from Continuing Operations before Income Taxes, Domestic

$ 51,510

$ 62,664

$ 88,078

[1]	For more information regarding our restructuring efforts, refer to Note 2 titled, "Restructuring."
[2]	Acquisition and integration related charges include transaction costs and integration expenses associated with acquisitions.

Benefit Plans (Change in benefit obligations funded status) (Details) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2022
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Foreign Currency Translation Gain (Loss)	$ 64	$ (159)
Equity Investments
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Target Allocation, Percentage	75.00%
Other Postretirement Benefit Plans, Defined Benefit
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Expected Future Benefit Payment, Next Twelve Months	$ 994
Defined Benefit Plan, Benefit Obligation	6,153	7,191	$ 8,525
Defined Benefit Plan, Service Cost	0	0	0
Defined benefit plan, change in benefit obligation, interest cost	313	256
Defined Benefit Plan, Actuarial Net (Gains) Losses	(441)	(807)
Defined Benefit Plan, Benefit Obligation, Benefits Paid	910	783
Defined Benefit Plan, Benefit Obligation, Contributions by Plan Participant	0	0
Defined Benefit Plan, Benefits Paid (Deprecated 2017-01-31)	(910)	(783)
Defined Benefit Plan, Plan Assets, Payment for Settlement	0	0
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	910	783
Defined Benefit Plan, Funded (Unfunded) Status of Plan	(6,153)	(7,191)
Defined Benefit Plan, Benefit Obligation, (Increase) Decrease for Curtailment	0	0
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	4,842
Defined Benefit Plan, Benefit Obligation	96,375	93,640	129,772
Defined Benefit Plan, Service Cost	659	1,276	1,616
Defined benefit plan, change in benefit obligation, interest cost	4,120	3,054
Defined Benefit Plan, Actuarial Net (Gains) Losses	(140)	(27,046)
Defined Benefit Plan, Benefit Obligation, Benefits Paid	4,327	5,817
Defined Benefit Plan, Benefit Obligation, Contributions by Plan Participant	1,028	501
Defined Benefit Plan, Benefits Paid (Deprecated 2017-01-31)	(4,280)	(5,772)
Defined Benefit Plan, Plan Assets, Payment for Settlement	(324)	(421)
Defined Benefit Plan, Plan Assets, Contributions by Plan Participant	1,028	501
Defined Benefit Plan, Plan Assets, Amount	113,913	107,089	$ 142,172
Defined Benefit Plan, Plan Assets, Increase (Decrease) for Actual Return (Loss)	3,043	(25,828)
Defined Benefit Plan, Plan Assets, Contributions by Employer	5,253	4,936
Defined Benefit Plan, Funded (Unfunded) Status of Plan	17,538	13,449
Defined Benefit Plan, Benefit Obligation, (Increase) Decrease for Curtailment	(355)	(421)
Defined Benefit Plan, Plan Assets, Foreign Currency Translation Gain (Loss)	2,104	(8,499)
Defined Benefit Plan, Benefit Obligation, Foreign Currency Translation Gain (Loss)	$ 1,750	$ (7,679)

Business Acquisitions and Divestitures Synergy Acquisition (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands		12 Months Ended
	Jun. 02, 2021	Mar. 31, 2022	Mar. 31, 2024	Mar. 31, 2023
Business Acquisition [Line Items]
Operating Lease, Right-of-Use Asset			$ 173,201	$ 166,553
Goodwill		$ 3,938,976	$ 4,070,712	3,879,219
Consideration related to equity component of convertible debt		$ 175,555
Cantel Medical Corp.
Business Acquisition [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net				$ 3,599,471
Business Acquisition, Share Price	$ 16.93	$ 188,070.00
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares	42,816	14,297
Payments to Acquire Businesses, Gross		$ 716,412
Business Combination, Consideration Transferred, Other		14
Business Combination, Consideration Transferred, Equity Interests Issued and Issuable		2,689,317
Consideration Transferred, Equity Awards Issued and Issuable		18,173
Consideration related to equity component of convertible debt		175,555
Business Combination, Consideration Transferred		$ 3,599,471

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

12 Months Ended

Mar. 31, 2024

Accounting Policies [Abstract]

Property, Plant and Equipment, Impairment [Policy Text Block]

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.

Revenue from Contract with Customer [Policy Text Block]

Revenue Recognition and Associated Liabilities. 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, 2024, assets related to costs to fulfill a contract were not material to our consolidated financial statements.

Refer to Note 13 titled, "Business Segment Information" for disaggregation of revenue.

Product Revenues

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 products 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 capital equipment products is deferred until installation is complete if the capital equipment and installation are highly integrated and form a single performance obligation.

Service Revenues

Within our Healthcare and Life Sciences segments, service revenues include 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. Healthcare service revenues also include 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.

We also offer preventive maintenance and separately priced extended warranty agreements to our Customers, which require us to maintain and repair products over the duration of the contract. Generally, these contract terms are cancellable 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 AST 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 2024, we recognized revenue of $66,690 that was included in our contract liability balance at the beginning of the period. During fiscal 2023, we recognized revenue of $72,914 that was included in our contract liability balance at the beginning of the period.

Refer to Note 9 titled, "Additional Consolidated Balance Sheet Information" for deferred revenue balances.

Service Liabilities

Payments received in advance of performance for cancellable preventive 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.

Refer to Note 9 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 orders for capital equipment and consumables where control of the products has not passed to the customer. With regard to service, these remaining performance obligations primarily include installation, certification, and outsourced reprocessing services. As of March 31, 2024, the transaction price allocated to remaining performance obligations was approximately $1,419,646. We expect to recognize approximately 56% of the transaction price within one year and approximately 33% beyond one year. The remainder has yet to be scheduled for delivery.

Consolidation, Policy

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 intercompany 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, Policy

Use of Estimates. We make certain estimates and assumptions when preparing financial statements according to accounting principles generally accepted in the United States ("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 and Cash Equivalents, Policy

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, money market deposit accounts, bank savings accounts, 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.

Trade and Other Accounts Receivable, Policy

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 may obtain and perfect a 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.

Inventory, Policy

Inventories, net. Inventories are stated at the lower of their cost and net realizable value determined by the first-in, first-out cost method. Inventory costs include material, labor, and overhead.

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, Policy

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.

Investment, Policy

Investments. Investments in marketable securities are stated at fair value and are included in Other assets on the Consolidated Balance Sheets. Changes in the fair value of these investments are recorded in the Interest and miscellaneous (income) expense line of the Consolidated Statements of Income.

Asset Retirement Obligation [Policy Text Block]

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 7 titled, “Property, Plant, and Equipment.”

Business Combinations Policy

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.

Foreign Currency Transactions and Translations Policy

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 Statements of Income, except for certain intercompany balances designated as long-term in nature.

Derivatives, Policy

Forward and Swap Contracts. We enter into foreign currency forward contracts to hedge assets and liabilities denominated in foreign currencies, including intercompany 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 may also hold forward foreign exchange contracts to hedge a portion of our expected non-U.S. dollar denominated earnings against our reporting currency, the U.S. dollar. 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.

Standard Product Warranty, Policy

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 Cost, Policy

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

Advertising Costs, Policy

Advertising Expenses. Costs incurred for communicating, advertising and promoting our products are generally expensed when incurred as a component of Selling, general, and administrative expenses. We incurred $25,474, $21,668, and $15,599 of advertising costs during the years ended March 31, 2024, 2023, and 2022, respectively.

Accounting Standards Update and Change in Accounting Principle

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 been adopted in fiscal 2024

ASU 2022-04 "Liabilities - Supplier Finance Programs (Subtopic 405-50) Disclosure of Supplier Finance Program Obligations."

September 2022

The standard provides guidance to enhance the transparency of disclosures for entities that utilize supplier finance programs to include information about the key terms of the programs and present a rollforward of any obligations under the program where those obligations are presented in the balance sheet.

Fiscal 2024

We adopted this standard in fiscal 2024 with no material impact to our consolidated financial statements.

Standards that have not yet been adopted.

ASU 2023-07 "Segment Reporting (Topic 280)
Improvements to Reportable Segment Disclosures."

November 2023

The standard provides guidance to enhance disclosures related to reportable segment expenses, including requirements to disclose significant segment expenses that are regularly provided to the Chief Operating Decision Maker ("CODM"), the title and position of the CODM and a description of how the CODM uses the information to make decisions regarding the allocation of resources. The standard also requires disclosure of certain segment information currently required annually to be reported on an interim basis. The amendments in this standard are effective for annual periods beginning after December 15, 2023 and interim periods within fiscal years beginning after December 15, 2024.

We are currently assessing the impact of this standard update on our disclosures in the notes to the consolidated financial statements.

ASU 2023-09 "Income Taxes (Topic 740) Improvements to Income Tax Disclosures."

December 2023

The standard provides guidance to enhance disclosures related to income taxes paid (net of refunds), requiring disaggregation by federal, state, and foreign, and disclosure of income taxes paid (net of refunds received) by individual jurisdictions that represent greater than 5% of the total. The standard also requires disclosure of income (loss) from continuing operations before income taxes, disaggregated between domestic and foreign, and income tax expense (or benefit) disaggregated by federal, state, and foreign. Finally, the standard removes the requirement for certain disclosures related to changes in unrecognized tax benefits and certain amounts of temporary differences. The amendments in this standard are effective for annual periods beginning after December 15, 2024.

We are currently assessing the impact of this standard update on our disclosures in the notes to the consolidated financial statements.

Intangible Assets, Finite-Lived, Policy

Identifiable Intangible Assets. Our identifiable intangible assets include product technology rights, trademarks, licenses, non-compete agreements, and Customer and vendor relationships. We record these assets at cost, or when acquired as part of a business acquisition, at estimated fair value. Determining the fair value of identifiable intangible assets requires management’s judgment and often involves the use of significant estimates and assumptions, including assumptions with respect to forecasted revenue growth rates, forecasted profit margins, and Customer attrition rates, among other items. 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.

Goodwill and Intangible Assets, Goodwill, Policy

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 marketplace participants.

Self Insurance Liabilities, Policy

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 known 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. Liability amounts are recorded in the "Accrued expenses and other" and "Other liabilities" line of our Consolidated Balance Sheets.

Postemployment Benefit Plans, Policy

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 11 titled, “Benefit Plans.”

Fair Value Measurement, Policy

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 19 titled, “Fair Value Measurements.”

Research and Development Expense, Policy

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 Cost of revenues.

Income Tax, Policy

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 10 titled, “Income Taxes.”

Share-based Compensation, Option and Incentive Plans Policy

Share-Based Compensation. We describe share-based compensation in Note 16 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 revenues, 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 Statements of Income over the period during which an employee is required to provide service in exchange for the award.

Costs Associated with Exit or Disposal Activity or Restructuring

Restructuring. We recognize restructuring expenses associated with actions designed to enhance profitability and improve efficiency of our operations. Severance and other compensation related costs include severance, medical benefits, and other termination benefits. For ongoing benefit arrangements, a liability is recognized when it is probable that employees will be entitled to benefits and the amount can be reasonably estimated. For one-time benefit arrangements, a liability is incurred and must be accrued at the date the plan is communicated to employees, unless they will be retained beyond a minimum retention period. In this case, the liability is calculated at the date the plan is communicated to employees and is accrued ratably over the future service period. Asset impairment expenses primarily relate to adjustments in the carrying value of facilities and machinery and equipment associated with restructuring actions to their estimated fair value. In addition, the remaining useful lives of other property, plant, and equipment associated with the restructuring actions are re-evaluated, which may result in the acceleration of depreciation and amortization of certain assets. Other restructuring expenses are expensed as incurred. Product rationalization charges relate to inventory write-downs and are recognized in Cost of revenues in the Consolidated Statements of Income. For additional information regarding our recent restructurings, refer to Note 2 titled, "Restructuring."

Interest Expense, Policy

Interest. We capitalize interest costs incurred during the construction of long-lived assets. We capitalized interest costs of $7,094 and $6,366 for the years ended March 31, 2024 and 2023, respectively. Total interest expense for the years ended March 31, 2024, 2023, and 2022 was $144,351, $107,956, and $89,490, respectively.

Discontinued Operations, Policy

Discontinued Operations. On April 11, 2024, the Company announced its plan to sell substantially all of the net assets of its Dental segment for total cash consideration of $787,500, subject to customary adjustments, and up to an additional $12.5 million in contingent payment should the Dental business achieve certain revenue targets in fiscal 2025. The transaction is structured as an equity sale. A component of an entity is reported in discontinued operations after meeting the criteria for held for sale classification if the disposition represents a strategic shift that has (or will have) a major effect on the entity's operations and financial results. We analyzed the quantitative and qualitative factors relevant to the divestiture of our Dental segment and determined that those conditions for discontinued operations presentation had been met prior to March 31, 2024. The Dental segment results of operations have been reclassified to income (loss) from discontinued operations in the Consolidated Statements of Income, and we have classified the Dental segment's assets and liabilities as held for sale for all periods presented in the accompanying Consolidated Balance Sheets. The transaction is anticipated to close in the first quarter of fiscal 2025. Therefore, the held for sale assets and liabilities are classified as current as of March 31, 2024. Our Consolidated Statements of Cash Flows include the financial results of the Dental segment for all periods presented. For additional information regarding this transaction and its effect on our financial reporting, refer to Note 4 titled, "Discontinued Operations" and Note 13 titled, "Business Segment Information."

Benefit Plans (Components of the annual net periodic benefit cost) (Details) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2022
Defined Benefit Plan Disclosure [Line Items]
Other Comprehensive Income (Loss), Defined Benefit Plan, Gain (Loss) Arising During Period, before Tax	$ 3,982
Other Postretirement Benefit Plans, Defined Benefit
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Benefit Obligation, Actuarial Gain (Loss)	(441)	$ (807)
Defined Benefit Plan, Service Cost	0	0	$ 0
Defined Benefit Plan, Interest Cost	313	256	232
Defined Benefit Plan, Expected Return (Loss) on Plan Assets	0	0	0
Defined Benefit Plan, Amortization of Prior Service Cost (Credit)	0	0	(267)
Net amortization and deferral	209	329	444
Defined Benefit Plan, Net Periodic Benefit Cost (Credit)	522	585	409
Defined Benefit Plan, Net Periodic Benefit Cost (Credit), Gain (Loss) Due to Settlement and Curtailment	0	0	0
Other Comprehensive Income (Loss), Defined Benefit Plan, Gain (Loss) Arising During Period, before Tax	441	807	640
Defined Benefit Plan, Amortization of Net Prior Service Cost (Credit)	0	0	267
Defined Benefit Plan, Amortization of Net Gains (Losses)	(209)	(329)	(444)
Other Comprehensive Income (Loss), Pension and Other Postretirement Benefit Plans, Adjustment, before Tax	232	478	463
Defined Benefit Plan, Amounts Recognized in Other Comprehensive Income (Loss), Net Gain (Loss), before Tax	754	1,063	872
Other Defined Benefit Pension Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Benefit Obligation, Actuarial Gain (Loss)	(140)	(27,046)
Defined Benefit Plan, Service Cost	659	1,276	1,616
Defined Benefit Plan, Interest Cost	4,120	3,054	2,699
Defined Benefit Plan, Expected Return (Loss) on Plan Assets	(6,051)	(3,817)	(4,412)
Defined Benefit Plan, Amortization of Prior Service Cost (Credit)	47	48	61
Net amortization and deferral	15	19	18
Defined Benefit Plan, Net Periodic Benefit Cost (Credit)	(1,211)	531	(49)
Defined Benefit Plan, Net Periodic Benefit Cost (Credit), Gain (Loss) Due to Settlement and Curtailment	(1)	(49)	(31)
Other Comprehensive Income (Loss), Defined Benefit Plan, Gain (Loss) Arising During Period, before Tax	2,562	1,716	(11,028)
Defined Benefit Plan, Amortization of Net Prior Service Cost (Credit)	(102)	(263)	(222)
Defined Benefit Plan, Amortization of Net Gains (Losses)	10	0	0
Other Comprehensive Income (Loss), Pension and Other Postretirement Benefit Plans, Adjustment, before Tax	2,470	1,453	(11,250)
Defined Benefit Plan, Amounts Recognized in Other Comprehensive Income (Loss), Net Gain (Loss), before Tax	$ 1,259	$ 1,984	$ (11,299)

CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY (Parenthetical) - $ / shares	12 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2022
Statement of Stockholders' Equity [Abstract]
Ordinary Shares, Dividends, Per Share, Cash Paid	$ 2.03	$ 1.84	$ 1.69

Discontinued Operations (Tables)

12 Months Ended

Mar. 31, 2024

Discontinued Operations and Disposal Groups [Abstract]

Disposal Groups, Including Discontinued Operations


	2024		2023
Assets
Assets held for sale:

Accounts receivable, net	48,590		63,327
Inventories, net	89,345		91,083
Property, plant, and equipment, net	73,395		72,737
Lease right-of-use assets, net	22,822		25,188
Intangibles, net	770,731		879,081
Prepaid expenses and other assets	2,953		3,423
Loss accrued on classification as held for sale	(202,932)		—
Total assets held for sale	$	804,904	$	1,134,839
Liabilities
Liabilities held for sale:
Accounts payable	$	10,580	$	15,455
Accrued income taxes	433		3,327
Accrued payroll and other related liabilities	13,683		7,179
Lease obligations	23,722		25,832

Accrued expenses and other	15,594		19,785
Total liabilities held for sale	$	64,012	$	71,578


	2024		2023

Assets held for sale:
Current	$	804,904	$	157,580
Non-current	—		977,259

Liabilities held for sale:
Current	$	64,012	$	50,642
Non-current	—		20,936

The following table summarizes the major line items constituting income (loss) of discontinued operations associated with the Dental segment for the years ended March 31, 2024, 2023, and 2022:


Years Ended March 31,	2024		2023		2022

Revenues:
Product	$	407,027	$	421,573	$	361,661
Cost of revenues:
Product	226,934		242,607		228,306
Gross profit:	180,093		178,966		133,355
Operating expenses:
Selling, general, and administrative	199,511		208,213		184,271
Goodwill impairment loss	—		490,565		—
Research and development	2,960		3,104		1,281
Loss from operations	(22,378)		(522,916)		(52,197)
Non-operating expenses, net	(10)		2		103
Pre-tax loss on classification as held for sale (1)	(206,444)		—		—
Loss before income tax expense	(228,812)		(522,918)		(52,300)
Income tax benefit	(55,611)		(72,534)		(10,711)
Loss from discontinued operations, net of income tax	$	(173,201)	$	(450,384)	$	(41,589)

(1) Amount includes additional transaction costs and the estimated accrued loss totaling $202,932 included in held for sale as of March 31, 2024

Significant non-cash operating items and capital expenditures related to discontinued operations are reflected in the statement of cash flows as follows:


	2024		2023		2022
Operating activities of discontinued operations:
Depreciation, depletion, and amortization (1)	$	115,177	$	130,367	$	120,957
Goodwill impairment loss	—		490,565		—
Investing activities of discontinued operations:
Purchases of property, plant, equipment, and intangibles, net	$	(9,150)	$	(9,470)	$	(4,726)

Tabular disclosure of information related to a disposal group. Includes, but is not limited to, a discontinued operation, disposal classified as held-for-sale or disposed of by means other than sale or disposal of an individually significant component.

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-SubTopic 10
-Topic 360
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482099/360-10-50-3

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 205
-SubTopic 20
-Name Accounting Standards Codification
-Section 45
-Paragraph 11
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483475/205-20-45-11

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 205
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 3A
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483499/205-20-50-3A

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 205
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 4A
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483499/205-20-50-4A

Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 205
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 4B
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483499/205-20-50-4B

Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 205
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 5A
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483499/205-20-50-5A

Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 205
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 5B
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483499/205-20-50-5B

Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 205
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 5C
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483499/205-20-50-5C

Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 205
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 5D
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483499/205-20-50-5D

Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 205
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 7
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483499/205-20-50-7

Reference 11: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 360
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3A
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482099/360-10-50-3A

Reference 12: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-SubTopic 20
-Topic 205
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483499/205-20-50-1

Reference 13: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483499/205-20-50-3

Schedule of Income before Income Tax, Domestic and Foreign

Income Tax Expense (Tables)

12 Months Ended

Mar. 31, 2024

Income Tax Expense [Abstract]

Income from continuing operations before income taxes of our domestic and foreign operations based on the geographic locations of our operations was as follows:


Years Ended March 31,	2024		2023		2022

United States operations	$	491,890	$	451,901	$	127,507
Ireland operations	51,510		62,664		88,078
Other locations operations	159,410		165,701		151,218
	$	702,810	$	680,266	$	366,803

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,	2024		2023		2022

Current:
United States federal	$	133,498	$	128,793	$	81,111
United States state and local	26,230		31,073		20,925
Ireland	7,639		8,837		12,002
Other locations	51,283		59,422		54,581
	218,650		228,125		168,619
Deferred:
United States federal	(43,484)		(39,030)		(63,087)
United States state and local	(11,222)		(43,843)		(15,108)
Ireland	(923)		(864)		(739)
Other locations	(13,491)		(20,319)		(7,341)
	(69,120)		(104,056)		(86,275)
Total Provision for Income Taxes	$	149,530	$	124,069	$	82,344

provision for taxes rate reconciliation

The total provision for income taxes can be reconciled to the tax computed at the Ireland statutory tax rate as follows:


Years Ended March 31,	2024		2023		2022
National statutory tax rate	12.5	%	12.5	%	12.5	%
Increase in accruals for uncertain tax positions	—	%	—	%	0.1	%
U.S. state and local taxes, net of federal income tax expense (benefit)	2.2	%	(1.1)	%	1.6	%
Increase in valuation allowances	0.9	%	—	%	0.7	%
U.S. research and development credit	(0.7)	%	(0.4)	%	(0.7)	%
U.S. foreign income tax credit	(0.9)	%	(0.8)	%	(1.8)	%
Difference in non-Ireland tax rates	8.5	%	8.9	%	14.2	%
U.S. federal audit adjustments	0.1	%	—	%	—	%

Excess tax benefit for equity compensation	(0.7)	%	(0.6)	%	(4.3)	%
Tax rate changes on deferred tax assets and liabilities	(0.3)	%	—	%	—	%
U.S. tax reform impact, GILTI and FDII	(0.2)	%	(0.3)	%	(0.8)	%

Capitalized acquisition, redomiciliation costs	—	%	—	%	1.5	%
All other, net	(0.1)	%	—	%	(0.6)	%
Total Provision for Income Taxes	21.3	%	18.2	%	22.4	%

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:


	2024		2023
Unrecognized Tax Benefits Balance at April 1	$	2,230	$	2,160
Increases for tax provisions of current year	—		70
Decreases for tax provisions of prior year	(80)		—




Unrecognized Tax Benefits Balance at March 31	$	2,150	$	2,230

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, 2024 and 2023 were as follows:


March 31,	2024		2023

Deferred Tax Assets:
Post-retirement benefit accrual	$	1,480	$	1,737
Compensation	19,582		15,858
Net operating loss carryforwards	37,096		37,667
Accrued expenses	13,667		13,150
Insurance	2,817		2,268
Deferred income	20,393		23,967
Bad debt	3,868		3,763

Research & experimental expenditures	28,347		15,382
Operating leases (1)	47,625		46,781
Foreign tax credit carryforwards	32,137		33,559
Other	21,258		11,701
Deferred Tax Assets	228,270		205,833
Less: Valuation allowance	26,374		20,315
Total Deferred Tax Assets	201,896		185,518
Deferred Tax Liabilities:
Depreciation and depletion	92,358		98,601
Operating leases (1)	46,657		45,834
Intangibles	518,814		630,589
Pension	3,889		2,644
Other	2,559		3,186
Total Deferred Tax Liabilities	664,277		780,854
Net Deferred Tax Liabilities	$	(462,381)	$	(595,336)

Repurchases of Common Shares	12 Months Ended
Repurchases of Common Shares	Mar. 31, 2024
Repurchases of Common Shares [Abstract]
Schedule of Treasury Stock by Class [Text Block]	15. REPURCHASES OF ORDINARY SHARES On May 3, 2023 our Board of Directors terminated the previous share repurchase program and authorized a new share repurchase program for the purchase of up to $500,000 (net of taxes, fees and commissions). As of March 31, 2024, there was $500,000 (net of taxes, fees and commissions) of remaining availability under the Board authorized share repurchase program. The share repurchase program has no specified expiration date. Under the authorization, the Company may repurchase its shares from time to time through open market purchases, including 10b5-1 plans. Any share repurchases may be activated, suspended or discontinued at any time. Due to the uncertainty surrounding the COVID-19 pandemic, share repurchases were suspended on April 9, 2020. The suspension was lifted effective February 10, 2022, enabling the Company to resume stock repurchases pursuant to the prior authorizations. During fiscal 2024, we had no share repurchase activity pursuant to share repurchase program authorizations. During fiscal 2023, we repurchased 1,563,983 of our ordinary shares for the aggregate amount of $295,000 (net of fees and commissions) pursuant to authorizations under the share repurchase program. From February 14, 2022, through March 31, 2022, we repurchased 108,368 of our ordinary shares for the aggregate amount of $25,000 (net of fees and commissions) pursuant to the authorizations under the share repurchase program. During fiscal 2024, we obtained 76,645 of our ordinary shares in the aggregate amount of $11,765 in connection with share-based compensation award programs. During fiscal 2023, we obtained 79,169 of our ordinary shares in the aggregate amount of $13,534 in connection with share-based compensation award programs. During fiscal 2022, we obtained 244,395 of our ordinary shares in the aggregate amount of $30,775 in connection with share-based compensation award programs.

Contingencies

12 Months Ended

Mar. 31, 2024

Commitments and Contingencies Disclosure [Abstract]

Schedule of Loss Contingencies by Contingency [Text Block]

12. 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, gases, 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.

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 affect 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 and service 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 10 to our consolidated financial statements titled, “Income Taxes” in this Annual Report on Form 10-K.

As of March 31, 2024 and 2023, our commercial commitments totaled $110,402 and $108,370, 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 $9,975 and $8,036 of the March 31, 2024 and 2023 totals, respectively, relate to letters of credit required as security under our self-insured risk retention policies.

As of March 31, 2024, we had minimum purchase commitments with suppliers for raw material purchases totaling $61,941. As of March 31, 2024, we also had commitments of $154,125 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, 2024 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 recognized in income from continuing operations in the consolidated statements of income are as follows:


	Year Ended		Year Ended		Year Ended
	March 31, 2024		March 31, 2023		March 31, 2022
Fixed operating lease expense	$	41,330	$	39,473	$	40,513
Variable operating lease expense	24,441		18,581		12,032
Total operating lease expense	$	65,771	$	58,054	$	52,545

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


	Year Ended		Year Ended		Year Ended
	March 31, 2024		March 31, 2023		March 31, 2022
Cash paid for amounts included in the measurement of operating lease liabilities	$	46,946	$	45,249	$	45,144
Right-of-use assets obtained in exchange for operating lease obligations, net	$	24,668	$	53,099	$	79,241

Maturities of lease liabilities at March 31, 2024 are as follows:


	March 31, 2024
2025	$	37,947
2026	32,598
2027	23,094
2028	18,662
2029 and thereafter	104,609
Total operating lease payments	216,910
Less imputed interest	39,843
Total operating lease liabilities	$	177,067

In the preceding table, the future minimum annual rentals payable under noncancelable leases denominated in foreign currencies have been calculated using March 31, 2024 foreign currency exchange rates.

Supplemental information related to operating leases is as follows:


	March 31,		March 31,
	2024		2023
Weighted-average remaining lease term of operating leases	9.9 years		10.6 years

Weighted-average discount rate of operating leases	4.4	%	3.8	%

The entire disclosure for loss and gain contingencies. Describes any existing condition, situation, or set of circumstances involving uncertainty as of the balance sheet date (or prior to issuance of the financial statements) as to a probable or reasonably possible loss incurred by an entity that will ultimately be resolved when one or more future events occur or fail to occur, and typically discloses the amount of loss recorded or a range of possible loss, or an assertion that no reasonable estimate can be made.

Restructuring and Related Activities [Abstract]

Financial and Other Guarantees (Details) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2022	Mar. 31, 2021
Notes To Financial Statements [Abstract]
Standard and Extended Product Warranty Accrual	$ 15,388	$ 13,394	$ 13,892	$ 9,406
Standard and Extended Product Warranty Accrual, Increase for Warranties Issued	18,051	13,195	12,571
Standard Product Warranty Accrual, Decrease for Payments	(16,057)	(13,693)	(12,638)
Standard Product Warranty Accrual, Additions from Business Acquisition	$ 0	$ 0	$ 4,553

Repurchases of Common Shares (Details) $ / shares in Units, $ in Thousands	12 Months Ended
	Mar. 31, 2024 USD ($) $ / shares shares	Mar. 31, 2023 USD ($) shares	Mar. 31, 2022 USD ($) shares	Mar. 31, 2024 EUR (€) shares	May 03, 2023 USD ($)
Equity, Class of Treasury Stock [Line Items]
Preferred Stock, Shares Authorized	50,000,000			50,000,000
Preferred Stock, Par or Stated Value Per Share \| $ / shares	$ 0.001
Stock Repurchase Program, Authorized Amount \| $	$ 500,000				$ 500,000
Stock Repurchased During Period, Shares		1,563,983	108,368
Stock Repurchased and Retired During Period, Value \| $		$ 295,000	$ 25,000
Common Stock, Par or Stated Value Per Share \| $ / shares	$ 0.001
Deferred Ordinary Shares	25,000			25,000
Share-based Payment Arrangement, Shares Withheld for Tax Withholding Obligation	76,645	79,169	244,395
Payment, Tax Withholding, Share-based Payment Arrangement \| $	$ 11,765	$ 13,534	$ 30,775
Euro Member Countries, Euro
Equity, Class of Treasury Stock [Line Items]
Par Value (Euros) of Deferred Ordinary Shares \| €				€ 1.00

Insider Trading Arrangements	12 Months Ended
Insider Trading Arrangements	Mar. 31, 2024
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Restructuring and Related Activities

12 Months Ended

Mar. 31, 2024

Restructuring

2. RESTRUCTURING

We adopted and announced a targeted restructuring plan (the "Restructuring Plan"). This plan includes a strategic shift in our approach to the Healthcare surgical business in Europe, as well as other actions including the impairment of an internally developed X-ray accelerator, product rationalizations and facility consolidations. Less than 300 positions are being eliminated. These restructuring actions are designed to enhance profitability and improve efficiency, and we expect to be substantially complete with the actions by the end of fiscal 2025.

We have incurred pre-tax expenses totaling $44,390 related to these restructurings in fiscal 2024, of which $26,070 was recorded as restructuring expenses and $18,320 was recorded in Cost of revenues. A total of $18,995 and $25,355 was related to the Healthcare and AST segments, respectively, while a total of $40 was related to Corporate. We expect to incur additional restructuring expenses related to this plan of approximately $55,300, which includes approximately $51,300 related to Healthcare, $3,000 related to AST, $800 related to Life Sciences, and $200 related to Corporate. The expected additional restructuring charges of $55,300 is comprised of approximately $36,200 related to severance and other compensation related costs, $15,300 related to lease and other contract termination and other costs, and $3,800 related to accelerated depreciation and amortization.

The following table summarizes our total pre-tax restructuring expenses recorded in fiscal 2024 related to the Restructuring Plan:



Year Ended March 31, 2024	Restructuring Plan
Asset impairment	$	25,392
Product rationalization (1)	18,320
Severance and other compensation related costs	678
Total Restructuring Expense	$	44,390

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

Goodwill and Intangible Assets Future Amortization of Intangible Assets (Details) $ in Thousands	Mar. 31, 2024 USD ($)
Other Intangible Assets [Abstract]
Finite-Lived Intangible Assets, Amortization Expense, Next Twelve Months	$ 270,365
Finite-Lived Intangible Assets, Amortization Expense, Year Two	261,498
Finite-Lived Intangible Assets, Amortization Expense, Year Three	255,383
Finite-Lived Intangible Assets, Amortization Expense, Year Four	250,617
Finite-Lived Intangible Assets, Amortization Expense, Year Five	$ 248,061

Debt (Tables)

12 Months Ended

Mar. 31, 2024

Debt Disclosure [Abstract]

Schedule of Debt

Indebtedness as of March 31, 2024 and 2023 was as follows:


	March 31, 2024		March 31, 2023



Short-term debt
Term loan, current portion	$	41,250	$	27,500
Delayed draw term loan, current portion	44,688		32,500

Total short-term debt	$	85,938	$	60,000


Long-term debt
Private Placement Senior Notes	$	751,433	$	750,302
Revolving Credit Facility	484,529		301,672
Deferred financing costs	(17,988)		(21,444)
Term loan	3,750		45,000
Delayed draw term loan	548,438		593,125
Senior Public Notes	1,350,000		1,350,000
Total long-term debt	$	3,120,162	$	3,018,655
Total debt	$	3,206,100	$	3,078,655

Senior Notes in Private Placement [Table Text Block]


	Applicable Note Purchase Agreement	Maturity Date	U.S. Dollar Value at March 31, 2024		U.S. Dollar Value at March 31, 2023

$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	64,708		65,254
$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	21,569		21,752
£45,000 Senior notes at 3.04%	2017 Private Placement	February 2029	56,799		55,579
€19,000 Senior notes at 2.30%	2017 Private Placement	February 2032	20,491		20,664
£30,000 Senior notes at 3.17%	2017 Private Placement	February 2032	37,866		37,053
Total Senior Notes			$	751,433	$	750,302

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:


2025	$	165,938
2026	662,029
2027	614,396
2028	150,000
2029 and thereafter	1,631,725
Total	$	3,224,088

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) shares in Thousands, $ in Thousands	Mar. 31, 2024	Mar. 31, 2023
Statement of Financial Position [Abstract]
Accounts Receivable, Allowance for Credit Loss, Current	$ 22,984	$ 19,284
Common Stock, Par or Stated Value Per Share	$ 0.001
Common Stock, Shares Authorized	500,000
Common shares issued	98,883	98,629
Common shares outstanding	98,883	98,629

Goodwill and Intangible Assets Goodwill Rollforward (Details) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2022
Goodwill [Line Items]
Goodwill	$ 4,070,712	$ 3,879,219	$ 3,938,976
Goodwill, Purchase Accounting Adjustments	(2,573)	(18,477)
Goodwill, Impairment Loss	0	(490,565)	0
Goodwill, Acquired During Period	200,086	7,024
Goodwill Decrease from Divestitures		(2,358)
Goodwill, Foreign Currency Translation Gain (Loss)	(6,020)	(45,946)
Healthcare [Member]
Goodwill [Line Items]
Goodwill	2,500,910	2,301,273	2,326,830
Goodwill, Purchase Accounting Adjustments	(2,573)	(21,624)
Goodwill, Acquired During Period	199,452	6,221
Goodwill Decrease from Divestitures		(2,358)
Goodwill, Foreign Currency Translation Gain (Loss)	2,758	(7,796)
Applied Sterilization Technologies
Goodwill [Line Items]
Goodwill	1,387,629	1,396,134	1,432,858
Goodwill, Purchase Accounting Adjustments	0	0
Goodwill, Acquired During Period	634	803
Goodwill Decrease from Divestitures		0
Goodwill, Foreign Currency Translation Gain (Loss)	(9,139)	(37,527)
Life Sciences
Goodwill [Line Items]
Goodwill	182,173	181,812	$ 179,288
Goodwill, Purchase Accounting Adjustments	0	3,147
Goodwill, Acquired During Period	0	0
Goodwill Decrease from Divestitures		0
Goodwill, Foreign Currency Translation Gain (Loss)	$ 361	$ (623)

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

3 Months Ended

12 Months Ended

Jan. 03, 2022

USD ($)

Mar. 31, 2024

USD ($)

Dec. 31, 2023

USD ($)

Sep. 30, 2023

USD ($)

Jun. 30, 2023

USD ($)

Mar. 31, 2023

USD ($)

Dec. 31, 2022

USD ($)

Sep. 30, 2022

USD ($)

Jun. 30, 2022

USD ($)

Mar. 31, 2024

USD ($)

Mar. 31, 2023

USD ($)

Mar. 31, 2022

USD ($)

Payments to Acquire Businesses, Net of Cash Acquired

$ 546,256

$ 42,572

$ 550,449

Asset Acquisition, Tax Deductible Goodwill, Expected

60,000

Business Combination, Contingent Consideration, Liability

$ 11,000

$ 15,678

11,000

15,678

$ 10,550

Entity Number of Employees

3,700

Cantel Acquisition Assumed Debt Obligations

$ 721,284

Deferred consideration

Business Acquisition, Goodwill, Expected Tax Deductible Amount

195,667

4,863

195,667

4,863

427,035

^[1]

25,526

23,486

201,905

1,419,387

$ 1,297,724

$ 1,238,204

$ 1,183,386

1,281,252

$ 1,112,431

$ 1,090,939

$ 1,051,644

5,138,701

4,536,266

4,223,403

9,458

6,624

169,712

Discontinued Operations, Dental Segment

^[2]

873

(67)

(874)

Potential Earnout on Divestiture of Business

12,500

CECS

Subsequent proceeds from divestiture of businesses

41,546

Animal Health Divestiture

35,000

12,000

5,228

(4,852)

Renal Care

$ 180,000

196,000

9,458

1,396

Potential Earnout on Divestiture of Business

4,919

$ 12,300

Discontinued Operations, Held-for-Sale | Discontinued Operations, Dental Segment

Disposal Group, Including Discontinued Operation, Consideration

787,500

Series of Individually Immaterial Business Acquisitions [Member]

Payments to Acquire Businesses, Net of Cash Acquired

6,498

$ 3,146

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

$ 6,915

50,127

6,915

50,127

Ohter FY 23 Acquisition

Payments to Acquire Business Three, Net of Cash Acquired

49,842

Business Combination, Contingent Consideration, Liability

7,269

Cantel Medical Corp.

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

$ 3,599,471

BD Acquisition

Payments to Acquire Businesses, Net of Cash Acquired

$ 539,758

[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, refer to Note 3 titled, "Business Acquisitions and Divestitures."

Schedule II - Valuation and Qualifying Accounts (Details) - USD ($)
$ in Thousands

12 Months Ended

Mar. 31, 2024

Mar. 31, 2023

Mar. 31, 2022

SEC Schedule, 12-09, Valuation Allowance, Deferred Tax Asset [Member]

SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]

SEC Schedule, 12-09, Valuation Allowances and Reserves, Amount, Beginning Balance

$ 20,315

$ 24,691

$ 14,143

SEC Schedule, 12-09, Valuation Allowances and Reserves, Additions, Charge to Cost and Expense

6,765

1,733

2,888

SEC Schedule, 12-09, Valuation Allowances and Reserves, Increase (Decrease) Adjustment

^[1]

(530)

8,906

SEC Schedule, 12-09, Valuation Allowances and Reserves, Deduction

(758)

(5,579)

(1,246)

SEC Schedule, 12-09, Valuation Allowances and Reserves, Amount, Ending Balance

26,374

20,315

24,691

SEC Schedule, 12-09, Allowance, Loss on Finance Receivable

SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]

SEC Schedule, 12-09, Valuation Allowances and Reserves, Amount, Beginning Balance

^[2]

19,284

19,875

11,355

SEC Schedule, 12-09, Valuation Allowances and Reserves, Additions, Charge to Cost and Expense

^[2]

11,240

6,991

12,962

SEC Schedule, 12-09, Valuation Allowances and Reserves, Increase (Decrease) Adjustment

^[1],[2]

(96)

247

665

SEC Schedule, 12-09, Valuation Allowances and Reserves, Deduction

^[2],[3]

(7,444)

(7,829)

(5,107)

SEC Schedule, 12-09, Valuation Allowances and Reserves, Amount, Ending Balance

^[2]

22,984

19,284

19,875

SEC Schedule, 12-09, Reserve, Inventory

SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]

SEC Schedule, 12-09, Valuation Allowances and Reserves, Amount, Beginning Balance

35,601

22,617

19,778

SEC Schedule, 12-09, Valuation Allowances and Reserves, Additions, Charge to Cost and Expense

^[4]

8,204

12,652

2,611

SEC Schedule, 12-09, Valuation Allowances and Reserves, Increase (Decrease) Adjustment

^[1]

332

228

SEC Schedule, 12-09, Valuation Allowances and Reserves, Deduction

SEC Schedule, 12-09, Valuation Allowances and Reserves, Amount, Ending Balance

43,893

35,601

22,617

SEC Schedule, 12-09, Reserve, Casualty Loss

SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]

SEC Schedule, 12-09, Valuation Allowances and Reserves, Amount, Beginning Balance

30,437

26,126

23,283

SEC Schedule, 12-09, Valuation Allowances and Reserves, Additions, Charge to Cost and Expense

7,884

7,829

7,069

SEC Schedule, 12-09, Valuation Allowances and Reserves, Increase (Decrease) Adjustment

(2,389)

2,040

SEC Schedule, 12-09, Valuation Allowances and Reserves, Deduction

(5,196)

(5,558)

(4,270)

SEC Schedule, 12-09, Valuation Allowances and Reserves, Amount, Ending Balance

$ 30,736

$ 30,437

$ 26,126

[1]	Change in foreign currency exchange rates and acquired reserves.
[2]	Net allowance for credit losses and allowance for sales and returns.
[3]	Uncollectible accounts written off, net of recoveries.
[4]	Provision for excess and obsolete inventory, net of inventory written off.

Common Shares

12 Months Ended

Mar. 31, 2024

Earnings Per Share [Text Block]

14. SHARES AND PREFERRED SHARES

Ordinary Shares

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. Income from continuing operations is used as the benchmark to determine whether share equivalents are dilutive or anti-dilutive. 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,	2024	2023	2022
Denominator (shares in thousands):
Weighted average shares outstanding—basic	98,787	99,706	97,535
Dilutive effect of share equivalents	572	540	791
Weighted average shares outstanding and share equivalents—diluted	99,359	100,246	98,326


Years ended March 31,	2024	2023	2022
Number of ordinary share options (shares in thousands)	606	578	243

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.

Benefit Plans

12 Months Ended

Mar. 31, 2024

Benefit Plans

11. 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.

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 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, 2024 and 2023, 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.


	Defined Benefit Pension Plans				Other Post-Retirement Benefits Plan
	2024		2023		2024		2023
Change in Benefit Obligations:
Benefit Obligations at Beginning of Year	$	93,640	$	129,772	$	7,191	$	8,525

Service cost	659		1,276		—		—

Interest cost	4,120		3,054		313		256
Actuarial gain	(140)		(27,046)		(441)		(807)
Benefits and expenses	(4,327)		(5,817)		(910)		(783)
Employee contributions	1,028		501		—		—
Curtailments/settlements	(355)		(421)		—		—
Impact of foreign currency exchange rate changes	1,750		(7,679)		—		—
Benefit Obligations at End of Year	96,375		93,640		6,153		7,191
Change in Plan Assets:
Fair Value of Plan Assets at Beginning of Year	107,089		142,172		—		—

Actual return on plan assets	3,043		(25,828)		—		—
Employer contributions	5,253		4,936		910		783
Employee contributions	1,028		501		—		—
Benefits and expenses paid	(4,280)		(5,772)		(910)		(783)
Curtailments/settlements	(324)		(421)		—		—
Impact of foreign currency exchange rate changes	2,104		(8,499)		—		—
Fair Value of Plan Assets at End of Year	113,913		107,089		—		—
Funded Status of the Plans	$	17,538	$	13,449	$	(6,153)	$	(7,191)

Amounts recognized in the Consolidated Balance Sheets consist of the following:


	Defined Benefit Pension Plans				Other Post-Retirement Benefits Plan
	2024		2023		2024		2023

Non-current assets	$	20,265	$	16,325	$	—	$	—
Current liabilities	—		—		(994)		(1,121)
Non-current liabilities	(2,727)		(2,876)		(5,159)		(6,070)
Net assets (liabilities)	$	17,538	$	13,449	$	(6,153)	$	(7,191)

The pre-tax amount of unrecognized actuarial net loss and unamortized prior service cost included in accumulated other comprehensive (loss) at March 31, 2024, was approximately $3,982 and $(584), respectively.

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, 2024 and 2023:


	Defined Benefit Pension Plans
	2024		2023
Aggregate fair value of plan assets	$	113,913	$	107,089
Aggregate accumulated benefit obligations	96,375		93,640
Aggregate projected benefit obligations	96,375		93,640

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:


	Defined Benefit Pension Plans						Other Post-Retirement Benefits Plan
	2024		2023		2022		2024		2023		2022
Service cost	$	659	$	1,276	$	1,616	$	—	$	—	$	—
Interest cost	4,120		3,054		2,699		313		256		232
Expected return on plan assets	(6,051)		(3,817)		(4,412)		—		—		—
Prior service cost recognition	47		48		61		—		—		(267)
Net amortization and deferral	15		19		18		209		329		444
Curtailments/settlements	(1)		(49)		(31)		—		—		—
Net periodic benefit (credit) cost	$	(1,211)	$	531	$	(49)	$	522	$	585	$	409
Recognized in other comprehensive loss (income) before tax:
Net loss (gain) occurring during year	$	2,562	$	1,716	$	(11,028)	$	441	$	807	$	640
Amortization of prior service credit	(102)		(263)		(222)		—		—		267
Amortization of net loss	10		—		—		(209)		(329)		(444)

Total recognized in other comprehensive loss (income)	2,470		1,453		(11,250)		232		478		463
Total recognized in total benefits cost and other comprehensive loss (income)	$	1,259	$	1,984	$	(11,299)	$	754	$	1,063	$	872

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:


	2024		2023
Discount Rate:
Synergy Health plc Retirement Benefits Scheme	4.80	%	4.70	%
Isotron BV Pension Plan	3.40	%	3.70	%
Synergy Health Daniken AG	1.50	%	2.05	%
Synergy Health Radeberg	3.80	%	3.80	%
Synergy Health Allershausen	3.50	%	3.70	%
Harwell Dosimeters Ltd Retirement Benefits Scheme	4.80	%	4.80	%
Other post-retirement plan	5.00	%	4.75	%

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


	2024		2023		2022
Discount Rate:
Synergy Health plc Retirement Benefits Scheme	4.70	%	2.80	%	2.10	%
Isotron BV Pension Plan	3.70	%	1.80	%	0.90	%
Synergy Health Daniken AG	1.50	%	2.05	%	1.00	%
Synergy Health Radeberg	2.00	%	2.00	%	1.50	%
Synergy Health Allershausen	2.20	%	2.20	%	2.00	%
Harwell Dosimeters Ltd Retirement Benefits Scheme	4.85	%	4.80	%	2.85	%
Other post-retirement plan	4.75	%	3.25	%	2.50	%
Expected Return on Plan Assets:
Synergy Health plc Retirement Benefits Scheme	6.10	%	3.20	%	3.60	%
Isotron BV Pension Plan	3.70	%	1.80	%	0.90	%
Synergy Health Daniken AG	1.50	%	1.95	%	1.00	%

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.


	2024		2023		2022
Healthcare cost trend rate – medical	7.50	%	7.50	%	7.00	%
Healthcare cost trend rate – prescription drug	7.50	%	7.50	%	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.

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, 2024, 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, 2024 and 2023 by asset category is as follows:


	Fair Value Measurements at March 31, 2024
(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	$	372	$	372	$	—	$	—
Insured annuities	10,468		—		10,468		—
Insurance contracts	6,110		—		—		6,110
Common and collective trusts valued at net asset value:
Equity security trusts	37,190		—		—		—
Debt security trusts	59,773		—		—		—
Total Plan Assets	$	113,913	$	372	$	10,468	$	6,110


	Fair Value Measurements at March 31, 2023
(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	$	338	$	338	$	—	$	—
Insured annuities	10,285		—		10,285		—
Insurance contracts	5,387		—		—		5,387
Common and collective trusts valued at net asset value:
Equity security trusts	48,137		—		—		—
Debt security trusts	42,942		—		—		—
Total Plan Assets	$	107,089	$	338	$	10,285	$	5,387

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 2024 due to the following:


	Insurance contracts
Balance at March 31, 2022	$	5,383
Gains (losses) related to assets still held at year-end	(157)
Transfers out of Level 3	320
Foreign currency	(159)
Balance at March 31, 2023	$	5,387
Gains (losses) related to assets still held at year-end	28
Transfers out of Level 3	631
Foreign currency	64
Balance at March 31, 2024	$	6,110

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. As of March 31, 2024, we were no longer in a position where future contributions are required. Planned contribution amounts for fiscal 2025 have been cancelled.

Based upon the actuarial assumptions utilized to develop our benefit obligations at March 31, 2024, the following benefit payments are expected to be made to plan participants:


	Other Defined Benefit Pension Plans		Other Post-Retirement Benefits Plan
2025	$	4,842	$	994
2026	4,761		890
2027	4,901		804
2028	5,017		712
2029	5,197		638
2030 and thereafter	28,137		2,268

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 $339 and $477, during fiscal 2024 and fiscal 2023, 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 401(k) defined contribution plans 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 $1,382,313 at March 31, 2024. At March 31, 2024, the U.S. plan held 446,128 STERIS ordinary shares with a fair value of $97,635. We paid dividends of $915, $886, and $852 to the plan and participants on STERIS shares held by the plan for the years ended March 31, 2024, 2023, and 2022, respectively. We contributed approximately $39,600, $36,564, and $38,600, to the defined contribution plans for the years ended March 31, 2024, 2023, and 2022, 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 $1,129 and $938 at March 31, 2024 and March 31, 2023, respectively. Realized gains and losses on these investments are recorded in Interest income and miscellaneous expense (income) within Non-operating expenses, net on our accompanying Consolidated Statements of Income. Changes in the fair value of the assets are recorded in Accumulated other comprehensive income (loss) on our accompanying Consolidated Balance Sheets.

The entire disclosure for retirement benefits.

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 70
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480794/715-70-50-1

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 17
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480482/715-20-55-17

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (d)(iv)(03)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480506/715-20-50-1

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (d)(i)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480506/715-20-50-1

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (q)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480506/715-20-50-1

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (l)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480506/715-20-50-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//715/tableOfContent

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (d)(iii)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480506/715-20-50-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (o)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480506/715-20-50-1

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (p)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480506/715-20-50-1

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (r)(1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480506/715-20-50-1

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (r)(2)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480506/715-20-50-1

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480126/715-20-S99-2

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 60
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480266/715-60-50-3

Inventories, Net (Tables)

12 Months Ended

Mar. 31, 2024

Schedule of Inventory, Current

Components of our inventories are presented in the following table.


March 31,	2024		2023

Raw materials	$	245,942	$	220,431
Work in process	98,304		93,971
Finished goods	374,182		325,609

Reserve for excess and obsolete inventory	(43,893)		(35,601)
Inventories, net	$	674,535	$	604,410

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

12 Months Ended

Mar. 31, 2024

Accounting Policies [Abstract]

Cash Flow, Supplemental Disclosures

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


Years Ended March 31,	2024		2023		2022
Cash paid during the year for:
Interest	$	142,167	$	108,470	$	84,696
Income taxes	271,274		254,661		138,382
Cash received during the year for income tax refunds	19,175		2,315		4,605

Accounting Standards Update and Change in Accounting Principle

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 been adopted in fiscal 2024

ASU 2022-04 "Liabilities - Supplier Finance Programs (Subtopic 405-50) Disclosure of Supplier Finance Program Obligations."

September 2022

Fiscal 2024

We adopted this standard in fiscal 2024 with no material impact to our consolidated financial statements.

Standards that have not yet been adopted.

ASU 2023-07 "Segment Reporting (Topic 280)
Improvements to Reportable Segment Disclosures."

November 2023

We are currently assessing the impact of this standard update on our disclosures in the notes to the consolidated financial statements.

ASU 2023-09 "Income Taxes (Topic 740) Improvements to Income Tax Disclosures."

December 2023

We are currently assessing the impact of this standard update on our disclosures in the notes to the consolidated financial statements.

Useful lives of PPE table text block

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

Nature of Operations and Summary of Significant Accounting Policies

12 Months Ended

Mar. 31, 2024

Accounting Policies [Abstract]

Nature of Operations

1. NATURE OF OPERATIONS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Nature of Operations. STERIS is a leading global provider of products and services that support patient care with an emphasis on infection prevention. WE HELP OUR CUSTOMERS CREATE A HEALTHIER AND SAFER WORLD by providing innovative healthcare and life science products and services around the globe. We offer our Customers a unique mix of innovative products and services. These include: consumable products, such as detergents, endoscopy accessories, barrier products, instruments and tools; and services, including equipment installation and maintenance, microbial reduction of medical devices, instrument and scope repair, laboratory testing, outsourced reprocessing; and capital equipment, such as sterilizers, surgical tables, and automated endoscope reprocessors, and connectivity solutions such as operating room (“OR”) integration.

We operate and report our financial information in three reportable business segments: Healthcare, Applied Sterilization Technologies ("AST"), and Life Sciences. Previously, we had four reportable business segments, however, as a result of the agreement to divest our Dental segment, Dental is presented as discontinued operations. Historical information has been retrospectively adjusted to reflect these changes for comparability purposes, as required. We describe our business segments in Note 13 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.

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


Years Ended March 31,	2024		2023		2022
Cash paid during the year for:
Interest	$	142,167	$	108,470	$	84,696
Income taxes	271,274		254,661		138,382
Cash received during the year for income tax refunds	19,175		2,315		4,605

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 13 titled, "Business Segment Information" for disaggregation of revenue.

Product Revenues

Service Revenues

Contract Liabilities

Refer to Note 9 titled, "Additional Consolidated Balance Sheet Information" for deferred revenue balances.

Service Liabilities

Refer to Note 9 titled, "Additional Consolidated Balance Sheet Information" for service liability balances.

Remaining Performance Obligations

Inventories, net. Inventories are stated at the lower of their cost and net realizable value determined by the first-in, first-out cost method. Inventory costs include material, labor, and overhead.

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

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 been adopted in fiscal 2024

ASU 2022-04 "Liabilities - Supplier Finance Programs (Subtopic 405-50) Disclosure of Supplier Finance Program Obligations."

September 2022

Fiscal 2024

We adopted this standard in fiscal 2024 with no material impact to our consolidated financial statements.

Standards that have not yet been adopted.

ASU 2023-07 "Segment Reporting (Topic 280)
Improvements to Reportable Segment Disclosures."

November 2023

We are currently assessing the impact of this standard update on our disclosures in the notes to the consolidated financial statements.

ASU 2023-09 "Income Taxes (Topic 740) Improvements to Income Tax Disclosures."

December 2023

We are currently assessing the impact of this standard update on our disclosures in the notes to the consolidated financial statements.

Reclassifications out of AOCI (Notes)

12 Months Ended

Mar. 31, 2024

Reclassifications out of AOCI Equity [Abstract]

Reclassifications Out of AOCI [Text Block]

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, 2024, 2023 and 2022 were as follows:


	Defined Benefit Plans (1)						Foreign Currency Translation (2)						Total Accumulated Other Comprehensive Income (Loss)
	2024		2023		2022		2024		2023		2022		2024		2023		2022
Beginning Balance	$	12	$	1,276	$	(5,519)	$	(320,722)	$	(211,084)	$	(55,724)	$	(320,710)	$	(209,808)	$	(61,243)
Other Comprehensive Income (Loss) before reclassifications	615		(799)		11,148		(7,211)		(109,638)		(155,360)		(6,596)		(110,437)		(144,212)
Amounts reclassified from Accumulated Other Comprehensive Loss	(1,351)		(465)		(4,353)		—		—		—		(1,351)		(465)		(4,353)
Net current-period Other Comprehensive (Loss) Income	(736)		(1,264)		6,795		(7,211)		(109,638)		(155,360)		(7,947)		(110,902)		(148,565)
Ending Balance	$	(724)	$	12	$	1,276	$	(327,933)	$	(320,722)	$	(211,084)	$	(328,657)	$	(320,710)	$	(209,808)

(1) The amortization (gain) of defined benefit plan costs is reported in the Interest income and miscellaneous expense (income) line of our Consolidated Statements of Income.

(2) 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.

Benefit Plans (Assumptions used in calculating benefit obligations and net periodic benefit cost) (Details)	12 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2022
Synergy Health PLC Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Assumptions Used Calculating Benefit Obligation, Discount Rate	4.80%	4.70%
Defined Benefit Plan, Assumptions Used Calculating Net Periodic Benefit Cost, Expected Long-term Rate of Return on Plan Assets	6.10%	3.20%	3.60%
Isotron [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Assumptions Used Calculating Benefit Obligation, Discount Rate	3.40%	3.70%
Defined Benefit Plan, Assumptions Used Calculating Net Periodic Benefit Cost, Expected Long-term Rate of Return on Plan Assets	3.70%	1.80%	0.90%
Daniken [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Assumptions Used Calculating Benefit Obligation, Discount Rate	1.50%	2.05%
Defined Benefit Plan, Assumptions Used Calculating Net Periodic Benefit Cost, Expected Long-term Rate of Return on Plan Assets	1.50%	1.95%	1.00%
Radeberg [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Assumptions Used Calculating Benefit Obligation, Discount Rate	3.80%	3.80%
Allershausen [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Assumptions Used Calculating Benefit Obligation, Discount Rate	3.50%	3.70%
Harwell Dosimeters [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Assumptions Used Calculating Benefit Obligation, Discount Rate	4.80%	4.80%
Other Pension Plans, Defined Benefit [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Assumptions Used Calculating Benefit Obligation, Discount Rate	5.00%	4.75%

Additional Consolidated Balance Sheets Information

12 Months Ended

Mar. 31, 2024

Additional Consolidated Balance Sheets Information

9. ADDITIONAL CONSOLIDATED BALANCE SHEET INFORMATION

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


March 31,	2024		2023
Accrued payroll and other related liabilities:
Compensation and related items	$	48,152	$	43,960
Accrued vacation/paid time off	16,140		13,348
Accrued bonuses	61,669		31,096
Accrued employee commissions	35,980		26,924
Other post-retirement benefits obligations-current portion	994		1,121
Other employee benefit plans' obligations-current portion	1,896		2,014
Total accrued payroll and other related liabilities	$	164,831	$	118,463
Accrued expenses and other:
Deferred revenues	$	70,460	$	85,727
Service liabilities	92,590		72,033
Self-insured and related risk reserves-current portion	13,303		11,325
Accrued dealer commissions	33,277		27,078
Accrued warranty	15,388		13,394
Asset retirement obligation-current portion	510		543
Accrued interest	11,109		9,243
Other	83,107		78,689
Total accrued expenses and other	$	319,744	$	298,032
Other liabilities:
Self-insured risk reserves-long-term portion	$	21,646	$	22,171
Other post-retirement benefits obligations-long-term portion	5,159		6,070
Defined benefit pension plans obligations-long-term portion	2,727		2,876
Other employee benefit plans obligations-long-term portion	1,321		1,153
Accrued long-term income taxes	6,508		10,082
Asset retirement obligation-long-term portion	13,148		12,588
Other	21,037		21,197
Total other liabilities	$	71,546	$	76,137

Quarterly Results (Unaudited) (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Mar. 31, 2024	Dec. 31, 2023	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Dec. 31, 2022	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2022
Quarterly Financial Information Disclosure [Abstract]
Revenues	$ 1,419,387	$ 1,297,724	$ 1,238,204	$ 1,183,386	$ 1,281,252	$ 1,112,431	$ 1,090,939	$ 1,051,644	$ 5,138,701	$ 4,536,266	$ 4,223,403
Cost of revenues	836,485	737,698	691,976	654,382	734,850	634,244	608,627	577,819	2,920,541	2,555,540	2,340,396
Gross Profit	$ 582,902	$ 560,026	$ 546,228	$ 529,004	$ 546,402	$ 478,187	$ 482,312	$ 473,825	$ 2,218,160	$ 1,980,726	1,883,007
Gross Profit Percentage	41.10%	43.20%	44.10%	44.70%	42.60%	43.00%	44.20%	45.10%	43.20%	43.70%
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest	$ 190,575	$ 189,602	$ 155,852	$ 166,781	$ 203,402	$ 171,539	$ 159,325	$ 146,000	$ 702,810	$ 680,266	366,803
Income Tax Expense (Benefit)	37,276	40,999	35,055	36,200	21,203	40,534	35,417	26,915	149,530	124,069	82,344
Income (Loss) from Continuing Operations, Net of Tax, Including Portion Attributable to Noncontrolling Interest	153,299	148,603	120,797	130,581	182,199	131,005	123,908	119,085	553,280	556,197	284,459
Loss from discontinued operations, net of income tax	(154,301)	(7,658)	(4,451)	(6,791)	4,765	(7,680)	(439,139)	(8,330)	(173,201)	(450,384)	(41,589)
Income from continuing operations, net of income tax	(1,002)	140,945	116,346	123,790	186,964	123,325	(315,231)	110,755	380,079	105,813	242,870
Net Income (Loss) Attributable to Parent	$ (1,377)	$ 140,743	$ 115,319	$ 123,554	$ 187,225	$ 123,828	$ (315,285)	$ 111,262	$ 378,239	$ 107,030	$ 243,888
Income (Loss) from Continuing Operations, Per Basic Share	$ 1.55	$ 1.50	$ 1.21	$ 1.32	$ 1.84	$ 1.32	$ 1.24	$ 1.19	$ 5.58	$ 5.59	$ 2.93
Income (Loss) from Discontinued Operations and Disposal of Discontinued Operations, Net of Tax, Per Basic Share	(1.56)	(0.08)	(0.04)	(0.07)	0.05	(0.08)	(4.39)	(0.08)	(1.75)	(4.52)	(0.43)
Earnings Per Share, Basic	(0.01)	1.42	1.17	1.25	1.89	1.24	(3.15)	1.11	3.83	1.07	2.50
Income (Loss) from Continuing Operations, Per Diluted Share	1.54	1.49	1.20	1.31	1.83	1.31	1.24	1.19	5.55	5.56	2.90
Income (Loss) from Discontinued Operations and Disposal of Discontinued Operations, Net of Tax, Per Diluted Share	(1.55)	(0.08)	(0.04)	(0.07)	0.05	(0.08)	(4.39)	(0.08)	(1.74)	(4.49)	(0.42)
Earnings Per Share, Diluted	$ (0.01)	$ 1.42	$ 1.16	$ 1.25	$ 1.88	$ 1.24	$ (3.15)	$ 1.10	$ 3.81	$ 1.07	$ 2.48

Audit Information	12 Months Ended
Audit Information	Mar. 31, 2024
Audit Information [Abstract]
Auditor Firm ID	42
Auditor Name	Ernst & Young LLP
Auditor Location	Cleveland, Ohio

Common Shares (Details) - $ / shares	12 Months Ended
Common Shares (Details) - $ / shares	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2022
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Common Stock, Par or Stated Value Per Share	$ 0.001
Preferred Stock, Par or Stated Value Per Share	$ 0.001
Value (EUROS) Ordinary Shares Deferred	25,000
Weighted Average Number of Shares Outstanding, Basic	98,787,000	99,706,000	97,535,000
Weighted Average Number Diluted Shares Outstanding Adjustment	572,000	540,000	791,000
Weighted Average Number of Shares Outstanding, Diluted	99,359,000	100,246,000	98,326,000
Stock Options [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	606,000	578,000	243,000

Income Tax Expense

12 Months Ended

Mar. 31, 2024

Income Tax Expense [Abstract]

Income Tax Expense (Benefit)

10. INCOME TAXES

The total provision for income taxes can be reconciled to the tax computed at the Ireland statutory tax rate as follows:


Years Ended March 31,	2024		2023		2022
National statutory tax rate	12.5	%	12.5	%	12.5	%
Increase in accruals for uncertain tax positions	—	%	—	%	0.1	%
U.S. state and local taxes, net of federal income tax expense (benefit)	2.2	%	(1.1)	%	1.6	%
Increase in valuation allowances	0.9	%	—	%	0.7	%
U.S. research and development credit	(0.7)	%	(0.4)	%	(0.7)	%
U.S. foreign income tax credit	(0.9)	%	(0.8)	%	(1.8)	%
Difference in non-Ireland tax rates	8.5	%	8.9	%	14.2	%
U.S. federal audit adjustments	0.1	%	—	%	—	%

Excess tax benefit for equity compensation	(0.7)	%	(0.6)	%	(4.3)	%
Tax rate changes on deferred tax assets and liabilities	(0.3)	%	—	%	—	%
U.S. tax reform impact, GILTI and FDII	(0.2)	%	(0.3)	%	(0.8)	%

Capitalized acquisition, redomiciliation costs	—	%	—	%	1.5	%
All other, net	(0.1)	%	—	%	(0.6)	%
Total Provision for Income Taxes	21.3	%	18.2	%	22.4	%

Our effective tax rate is affected by i) the tax rates in Ireland (our country of domicile), the United States, and other jurisdictions in which we operate, and ii) the relative amount of income before income taxes by geography. Income before income taxes by geography are based on the geographic location of our operations to which such earnings are attributable. Transactions between two or more of the entities within our group occur routinely and involve the sale of goods and services, loans and related interest, intellectual property and related royalties, and shared costs. The pricing used in these transactions is consistent with the prices that would be charged between unrelated parties in accordance with our interpretation of current tax regulations. Income before income taxes by geography includes the transfer of income before income taxes that results from these transactions.

We operate a global financing structure using a wholly-owned financing company domiciled in Ireland, STERIS Irish FinCo, which has a material impact on the relative amount of income before income taxes by geography. In each of the years presented, STERIS Irish FinCo contributed more than 90% of the pre-tax income of Ireland operations. Its activities are driven by funding needs for acquisitions, capital investments, and working capital. A significant majority of STERIS Irish FinCo’s income before income taxes during the years presented was driven by loans to our operations in the United States in response to such funding needs.

Significant transactions not indicative of operating trends that impacted the amount of income before income taxes by geography and resulting provision for income tax and effective tax rate include:

•In fiscal 2024, income from continuing operations before income taxes, in the United States and Other locations, was impacted by $44,390 of expenses associated with restructuring. This resulted in approximately $2,600 of an increase to our valuation allowance in Other locations.

•In fiscal 2023, there was a $23,389 favorable tax impact from changes in U.S. state and local tax rates applied to existing deferred tax assets and liabilities.

•In fiscal 2022, income in the United States was affected by costs associated with the completion of the Cantel Medical acquisition. These include $205,788 of acquisition and integration related expenses and the negative impact of a fair value adjustment of $27,806 related to the premium liability associated with the Cantel Medical convertible debt. Approximately $67,000 of these costs were non-deductible.

Income from continuing operations before income taxes of our domestic and foreign operations based on the geographic locations of our operations was as follows:


Years Ended March 31,	2024		2023		2022

United States operations	$	491,890	$	451,901	$	127,507
Ireland operations	51,510		62,664		88,078
Other locations operations	159,410		165,701		151,218
	$	702,810	$	680,266	$	366,803

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


Years Ended March 31,	2024		2023		2022

Current:
United States federal	$	133,498	$	128,793	$	81,111
United States state and local	26,230		31,073		20,925
Ireland	7,639		8,837		12,002
Other locations	51,283		59,422		54,581
	218,650		228,125		168,619
Deferred:
United States federal	(43,484)		(39,030)		(63,087)
United States state and local	(11,222)		(43,843)		(15,108)
Ireland	(923)		(864)		(739)
Other locations	(13,491)		(20,319)		(7,341)
	(69,120)		(104,056)		(86,275)
Total Provision for Income Taxes	$	149,530	$	124,069	$	82,344

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 the "Accrued income taxes" line in our accompanying Consolidated Balance Sheets. We recognize interest and penalties related to unrecognized tax benefits within the “Income tax expense” line 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:


	2024		2023
Unrecognized Tax Benefits Balance at April 1	$	2,230	$	2,160
Increases for tax provisions of current year	—		70
Decreases for tax provisions of prior year	(80)		—




Unrecognized Tax Benefits Balance at March 31	$	2,150	$	2,230

We recognized interest and penalties related to uncertain tax positions in the provision for income taxes. As of March 31, 2024 and 2023, we had $143 and $140 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 $2,293. The decrease in unrecognized tax benefits from prior year is due to the expiration of old 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 2018 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 2018. We remain subject to tax authority audits in various jurisdictions wherever we do business.

In the fourth quarter of fiscal 2021, we completed an appeals process with the U.S. Internal Revenue Service (the “IRS”) regarding proposed audit adjustments related to deductibility of interest paid on intercompany debt for fiscal years 2016 through 2017. An agreement was reached on final interest rates, which also impacted subsequent years through 2020. The total federal, state, and local tax impact of the settlement including interest is approximately $12,000 for the fiscal years 2016 through 2020, materially all of which has been paid through March 31, 2024.

In November 2023, we received two Notices of Deficiency from the IRS regarding the previously disclosed deemed dividend inclusions and associated withholding tax matter. The notices relate to the fiscal and calendar year 2018. The IRS adjustments would result in a cumulative tax liability of approximately $50,000. We are contesting the IRS’s assertions and have filed petitions with the U.S. Tax Court. 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 $4,800 (or $0.05 per fully diluted share), annually. The Tax Holiday runs fully exempt from income tax through 2031.

Deferred Taxes. The significant components of the deferred tax assets and liabilities recorded in our accompanying balance sheets at March 31, 2024 and 2023 were as follows:


March 31,	2024		2023

Deferred Tax Assets:
Post-retirement benefit accrual	$	1,480	$	1,737
Compensation	19,582		15,858
Net operating loss carryforwards	37,096		37,667
Accrued expenses	13,667		13,150
Insurance	2,817		2,268
Deferred income	20,393		23,967
Bad debt	3,868		3,763

Research & experimental expenditures	28,347		15,382
Operating leases (1)	47,625		46,781
Foreign tax credit carryforwards	32,137		33,559
Other	21,258		11,701
Deferred Tax Assets	228,270		205,833
Less: Valuation allowance	26,374		20,315
Total Deferred Tax Assets	201,896		185,518
Deferred Tax Liabilities:
Depreciation and depletion	92,358		98,601
Operating leases (1)	46,657		45,834
Intangibles	518,814		630,589
Pension	3,889		2,644
Other	2,559		3,186
Total Deferred Tax Liabilities	664,277		780,854
Net Deferred Tax Liabilities	$	(462,381)	$	(595,336)

(1) For more information regarding our operating leases, see Note 12 titled, "Commitments and Contingencies."

At March 31, 2024, we had U.S. federal operating loss carryforwards of $8,026, which remain subject to a 20 year carryforward period. Additionally, we had non-U.S. operating loss carry forwards of $128,159. 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 2025 and 2045. In addition, we have recorded pre-valuation allowance tax benefits of $2,269

related to U.S. state operating loss carryforwards. If unused, these state operating loss carryforwards will expire between fiscal years 2025 and 2045. At March 31, 2024, we had $33,297 of pre-valuation allowance tax credit carryforwards of which $23,954 relates to offsets of deferred tax liabilities related to German branches of a U.S. subsidiary. These credit carryforwards can be used through fiscal 2034.

We review the need for a valuation allowance against our deferred tax assets. A valuation allowance of $26,374 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 2024 by $6,059.

Other than the tax expense previously 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 $2,850,000 at March 31, 2024. 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.

On October 8, 2021, the Organization for Economic Co-operation and Development ("OECD") announced the OECD/G20 Inclusive Framework on Base Erosion and Profit Shifting which agreed to a two-pillar solution to address tax challenges arising from digitalization of the economy. On December 20, 2021, the OECD released Pillar Two Model Rules defining the global minimum tax, which calls for the taxation of large corporations at a minimum rate of 15%. The OECD continues to release additional guidance on the two-pillar framework with widespread implementation anticipated by 2024. We are continuing to evaluate the potential impact on future periods of the Pillar Two Framework, pending legislative adoption by individual countries. The legislation is anticipated to be effective for our fiscal year beginning April 1, 2024.

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480990/946-20-50-13

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(h)(2))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//740/tableOfContent

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482685/740-10-50-14

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 21
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482685/740-10-50-21

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 270
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482526/740-270-50-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 17
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482685/740-10-50-17

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SAB TOPIC 6.I.5.Q1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479360/740-10-S99-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SAB Topic 11.C)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479360/740-10-S99-2

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482603/740-30-50-2

Quarterly Financial Information Disclosure [Abstract]

Discontinued Operations - Summary of Significant Non-Cash Operating Items and Capital Expenditures Related to Discontinued Operations (Details) - Discontinued Operations, Held-for-Sale - Discontinued Operations, Dental Segment - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2022
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Depreciation, depletion, and amortization (1)	$ 115,177	$ 130,367	$ 120,957
Goodwill impairment loss	0	490,565	0
Purchases of property, plant, equipment, and intangibles, net	$ (9,150)	$ (9,470)	$ (4,726)

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2022
Revenues:
Total revenues	$ 5,138,701	$ 4,536,266	$ 4,223,403
Cost of revenues:
Cost of revenues	2,920,541	2,555,540	2,340,396
Gross Profit	2,218,160	1,980,726	1,883,007
Operating expenses:
Selling, general, and administrative	1,252,318	1,090,663	1,318,481
Research and development	103,679	98,477	86,663
Restructuring Costs	26,045	485	48
Total operating expenses	1,382,042	1,189,625	1,405,192
Income (loss) from operations	836,118	791,101	477,815
Non-operating expenses, net:
Interest expense	144,351	107,956	89,490
Fair value adjustment related to convertible debt liability	0	0	27,806
Interest income and miscellaneous expense	(11,043)	2,879	(6,284)
Total non-operating expenses, net	133,308	110,835	111,012
Income (loss) before income tax expense (benefit)	702,810	680,266	366,803
Income tax expense (benefit)	149,530	124,069	82,344
Income from continuing operations, net of income tax	553,280	556,197	284,459
Loss from discontinued operations, net of income tax	(173,201)	(450,384)	(41,589)
Net income	380,079	105,813	242,870
Less: Net income (loss) attributable to noncontrolling interests	1,840	(1,217)	(1,018)
Net income attributable to shareholders	$ 378,239	$ 107,030	$ 243,888
Net income (loss) per common share
Income (Loss) from Continuing Operations, Per Basic Share	$ 5.58	$ 5.59	$ 2.93
Income (Loss) from Discontinued Operations and Disposal of Discontinued Operations, Net of Tax, Per Basic Share	(1.75)	(4.52)	(0.43)
Earnings Per Share, Basic	3.83	1.07	2.50
Income (Loss) from Continuing Operations, Per Diluted Share	5.55	5.56	2.90
Income (Loss) from Discontinued Operations and Disposal of Discontinued Operations, Net of Tax, Per Diluted Share	(1.74)	(4.49)	(0.42)
Earnings Per Share, Diluted	3.81	1.07	2.48
Cash dividends declared per common share outstanding	$ 2.03	$ 1.84	$ 1.69
Product [Member]
Revenues:
Total revenues	$ 2,763,954	$ 2,363,754	$ 2,194,620
Cost of revenues:
Cost of revenues	1,516,082	1,271,363	1,191,619
Service [Member]
Revenues:
Total revenues	2,374,747	2,172,512	2,028,783
Cost of revenues:
Cost of revenues	$ 1,404,459	$ 1,284,177	$ 1,148,777

Cover - USD ($)	12 Months Ended
Cover - USD ($)	Mar. 31, 2024	May 24, 2024	Sep. 30, 2023
Entity Information [Line Items]
Document Annual Report	true
Document Transition Report	false
Entity Central Index Key	0001757898
Document Period End Date	Mar. 31, 2024
Amendment Flag	false
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	FY
Entity Interactive Data Current	Yes
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Address, Address Line One	70 Sir John Rogerson's Quay,
Entity Address, City or Town	Dublin 2,
Entity Address, Country	IE
Entity Address, Postal Zip Code	D02 R296
ICFR Auditor Attestation Flag	true
Local Phone Number	232 2000
City Area Code	1
Country Region	353
Entity Shell Company	false
Entity Registrant Name	STERIS plc
Document Type	10-K
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity File Number	001-38848
Entity Incorporation, State or Country Code	L2
Entity Filer Category	Large Accelerated Filer
Entity Tax Identification Number	98-1455064
Entity Public Float			$ 21,614,000,000
Entity Common Stock, Shares Outstanding		98,900,010
Current Fiscal Year End Date	--03-31
Document Financial Statement Error Correction [Flag]	false
Ordinary Shares
Entity Information [Line Items]
Title of 12(b) Security	Ordinary Shares, $0.001 par value
Trading Symbol	STE
Security Exchange Name	NYSE
STE Two700 Senior Notes Due2031 Member
Entity Information [Line Items]
Title of 12(b) Security	2.700% Senior Notes due 2031
Trading Symbol	STE/31
Security Exchange Name	NYSE
Two700 Senior Notes Due2051 Member
Entity Information [Line Items]
Title of 12(b) Security	3.750% Senior Notes due 2051
Trading Symbol	STE/51
Security Exchange Name	NYSE

Quarterly Results (Unaudited) (Tables)

12 Months Ended

Mar. 31, 2024

Effect of Fourth Quarter Events


Quarters Ended	Full Year			March 31,			December 31,			September 30,			June 30,
Fiscal 2024
Revenues	$	5,138,701		$	1,419,387		$	1,297,724		$	1,238,204		$	1,183,386



Cost of revenues	2,920,541			836,485			737,698			691,976			654,382



Gross profit	2,218,160			582,902			560,026			546,228			529,004
Percentage of Revenues	43.2		%	41.1		%	43.2		%	44.1		%	44.7		%
Income from continuing operations before income tax expense	702,810			190,575			189,602			155,852			166,781
Income tax expense	149,530			37,276			40,999			35,055			36,200
Income from continuing operations	553,280			153,299			148,603			120,797			130,581
Loss from discontinued operations	(173,201)			(154,301)			(7,658)			(4,451)			(6,791)
Net income (loss)	380,079			(1,002)			140,945			116,346			123,790
Net income (loss) attributable to shareholders	$	378,239		$	(1,377)		$	140,743		$	115,319		$	123,554
Basic earnings per ordinary share attributable to shareholders
Continuing Operations	$	5.58		$	1.55		$	1.50		$	1.21		$	1.32
Discontinued Operations	$	(1.75)		$	(1.56)		$	(0.08)		$	(0.04)		$	(0.07)
Total	$	3.83		$	(0.01)		$	1.42		$	1.17		$	1.25
Diluted earnings per ordinary share attributable to shareholders
Continuing Operations	$	5.55		$	1.54		$	1.49		$	1.20		$	1.31
Discontinued Operations	$	(1.74)		$	(1.55)		$	(0.08)		$	(0.04)		$	(0.07)
Total	$	3.81		$	(0.01)		$	1.42		$	1.16		$	1.25

Fiscal 2023
Revenues	$	4,536,266		$	1,281,252		$	1,112,431		$	1,090,939		$	1,051,644



Cost of revenues	2,555,540			734,850			634,244			608,627			577,819



Gross profit	1,980,726			546,402			478,187			482,312			473,825
Percentage of Revenues	43.7		%	42.6		%	43.0		%	44.2		%	45.1		%
Income from continuing operations before income tax expense	680,266			203,402			171,539			159,325			146,000
Income tax expense	124,069			21,203			40,534			35,417			26,915
Income (loss) from continuing operations	556,197			182,199			131,005			123,908			119,085
Income (loss) from discontinued operations	(450,384)			4,765			(7,680)			(439,139)			(8,330)
Net income (loss)	105,813			186,964			123,325			(315,231)			110,755
Net income (loss) attributable to shareholders	$	107,030		$	187,225		$	123,828		$	(315,285)		$	111,262
Basic Income Per Ordinary Share Attributable to Shareholders:
Continuing Operations	$	5.59		$	1.84		$	1.32		$	1.24		$	1.19
Discontinued Operations	$	(4.52)		$	0.05		$	(0.08)		$	(4.39)		$	(0.08)
Total	$	1.07		$	1.89		$	1.24		$	(3.15)		$	1.11
Diluted Income Per Ordinary Share Attributable to Shareholders:
Continuing Operations	$	5.56		$	1.83		$	1.31		$	1.24		$	1.19
Discontinued Operations	$	(4.49)		$	0.05		$	(0.08)		$	(4.39)		$	(0.08)
Total	$	1.07		$	1.88		$	1.24		$	(3.15)		$	1.10

Contingencies lease tables (Tables)

12 Months Ended

Mar. 31, 2024

Leases [Abstract]

Lease, Cost

The components of operating lease expense recognized in income from continuing operations in the consolidated statements of income are as follows:


	Year Ended		Year Ended		Year Ended
	March 31, 2024		March 31, 2023		March 31, 2022
Fixed operating lease expense	$	41,330	$	39,473	$	40,513
Variable operating lease expense	24,441		18,581		12,032
Total operating lease expense	$	65,771	$	58,054	$	52,545

Lessee, Supplemental Cash Flow Information

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


	Year Ended		Year Ended		Year Ended
	March 31, 2024		March 31, 2023		March 31, 2022
Cash paid for amounts included in the measurement of operating lease liabilities	$	46,946	$	45,249	$	45,144
Right-of-use assets obtained in exchange for operating lease obligations, net	$	24,668	$	53,099	$	79,241

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

Maturities of lease liabilities at March 31, 2024 are as follows:


	March 31, 2024
2025	$	37,947
2026	32,598
2027	23,094
2028	18,662
2029 and thereafter	104,609
Total operating lease payments	216,910
Less imputed interest	39,843
Total operating lease liabilities	$	177,067

Supplemental information related to operating leases is as follows:


	March 31,		March 31,
	2024		2023
Weighted-average remaining lease term of operating leases	9.9 years		10.6 years

Weighted-average discount rate of operating leases	4.4	%	3.8	%

Benefit Plans (Projected benefit obligation exceeding the fair value of plan assets) (Details) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2022
Other Defined Benefit Pension Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Benefit Obligation	$ 96,375	$ 93,640	$ 129,772
Defined Benefit Plan, Plan Assets, Amount	113,913	107,089	142,172
Defined Benefit Plan, Accumulated Benefit Obligation	96,375	93,640
Defined Benefit Plan, Service Cost	659	1,276	1,616
Defined Benefit Plan, Amortization of Prior Service Cost (Credit)	47	48	61
Defined Benefit Plan, Interest Cost	4,120	3,054	2,699
Defined Benefit Plan, Actuarial Net (Gains) Losses	(140)	(27,046)
Defined Benefit Plan, Benefit Obligation, Benefits Paid	4,327	5,817
Defined Benefit Plan, Benefit Obligation, Contributions by Plan Participant	1,028	501
Defined Benefit Plan, Benefit Obligation, Foreign Currency Translation Gain (Loss)	1,750	(7,679)
Defined Benefit Plan, Plan Assets, Increase (Decrease) for Actual Return (Loss)	3,043	(25,828)
Defined Benefit Plan, Plan Assets, Contributions by Employer	5,253	4,936
Defined Benefit Plan, Plan Assets, Contributions by Plan Participant	1,028	501
Defined Benefit Plan, Plan Assets, Benefits Paid	4,280	5,772
Defined Benefit Plan, Funded (Unfunded) Status of Plan	17,538	13,449
Other Postretirement Benefit Plans, Defined Benefit
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Benefit Obligation	6,153	7,191	8,525
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)	0	0	(267)
Defined Benefit Plan, Interest Cost	313	256	$ 232
Defined Benefit Plan, Actuarial Net (Gains) Losses	(441)	(807)
Defined Benefit Plan, Benefit Obligation, Benefits Paid	910	783
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	910	783
Defined Benefit Plan, Plan Assets, Contributions by Plan Participant	0	0
Defined Benefit Plan, Plan Assets, Benefits Paid	910	783
Defined Benefit Plan, Funded (Unfunded) Status of Plan	$ (6,153)	$ (7,191)

Forward and Swap Contracts

12 Months Ended

Mar. 31, 2024

Derivative Instruments and Hedging Activities Disclosure [Text Block]

18. 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 intercompany 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. During fiscal 2024, we also held forward foreign currency contracts to hedge a portion of our expected non-U.S. dollar-denominated earnings against our reporting currency, the U.S. dollar. These foreign currency exchange contracts matured during fiscal 2024. We did not elect hedge accounting for these forward foreign currency contracts; however, we may seek to apply hedge accounting in future scenarios. 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, 2024, we held foreign currency forward contracts to buy 48.0 million British pounds sterling and 4.0 million euros; and to sell 150.0 million Mexican pesos, and 18.0 million Australian dollars. At March 31, 2024, we held commodity swap contracts to buy 789.0 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, 2024		March 31, 2023		March 31, 2024		March 31, 2023
Prepaid & Other	$	208	$	378	$	—	$	—
Accrued expenses and other	—		—		1,014		2,054

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,
		2024		2023		2022
Foreign currency forward contracts	Selling, general, and administrative	$	1,272	$	5,036	$	4,379
Commodity swap contracts	Cost of revenues	(1,611)		(3,630)		3,921

Financial and Other Guarantees (Tables)

12 Months Ended

Mar. 31, 2024

Schedule of Guarantor Obligations

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


Years Ended March 31,	2024		2023		2022
Balance, Beginning of Year	$	13,394	$	13,892	$	9,406
Liabilities assumed in acquisition of Cantel	—		—		4,553
Warranties issued during the period	18,051		13,195		12,571
Settlements made during the period	(16,057)		(13,693)		(12,638)
Balance, End of Year	$	15,388	$	13,394	$	13,892

Benefit Plans (Tables)

12 Months Ended

Mar. 31, 2024

Schedule of Defined Benefit Plans Disclosures


	Defined Benefit Pension Plans				Other Post-Retirement Benefits Plan
	2024		2023		2024		2023
Change in Benefit Obligations:
Benefit Obligations at Beginning of Year	$	93,640	$	129,772	$	7,191	$	8,525

Service cost	659		1,276		—		—

Interest cost	4,120		3,054		313		256
Actuarial gain	(140)		(27,046)		(441)		(807)
Benefits and expenses	(4,327)		(5,817)		(910)		(783)
Employee contributions	1,028		501		—		—
Curtailments/settlements	(355)		(421)		—		—
Impact of foreign currency exchange rate changes	1,750		(7,679)		—		—
Benefit Obligations at End of Year	96,375		93,640		6,153		7,191
Change in Plan Assets:
Fair Value of Plan Assets at Beginning of Year	107,089		142,172		—		—

Actual return on plan assets	3,043		(25,828)		—		—
Employer contributions	5,253		4,936		910		783
Employee contributions	1,028		501		—		—
Benefits and expenses paid	(4,280)		(5,772)		(910)		(783)
Curtailments/settlements	(324)		(421)		—		—
Impact of foreign currency exchange rate changes	2,104		(8,499)		—		—
Fair Value of Plan Assets at End of Year	113,913		107,089		—		—
Funded Status of the Plans	$	17,538	$	13,449	$	(6,153)	$	(7,191)

Schedule of Accrued Liabilities

Amounts recognized in the Consolidated Balance Sheets consist of the following:


	Defined Benefit Pension Plans				Other Post-Retirement Benefits Plan
	2024		2023		2024		2023

Non-current assets	$	20,265	$	16,325	$	—	$	—
Current liabilities	—		—		(994)		(1,121)
Non-current liabilities	(2,727)		(2,876)		(5,159)		(6,070)
Net assets (liabilities)	$	17,538	$	13,449	$	(6,153)	$	(7,191)

Schedule of Accumulated and Projected Benefit Obligations


	Defined Benefit Pension Plans
	2024		2023
Aggregate fair value of plan assets	$	113,913	$	107,089
Aggregate accumulated benefit obligations	96,375		93,640
Aggregate projected benefit obligations	96,375		93,640

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:


	Defined Benefit Pension Plans						Other Post-Retirement Benefits Plan
	2024		2023		2022		2024		2023		2022
Service cost	$	659	$	1,276	$	1,616	$	—	$	—	$	—
Interest cost	4,120		3,054		2,699		313		256		232
Expected return on plan assets	(6,051)		(3,817)		(4,412)		—		—		—
Prior service cost recognition	47		48		61		—		—		(267)
Net amortization and deferral	15		19		18		209		329		444
Curtailments/settlements	(1)		(49)		(31)		—		—		—
Net periodic benefit (credit) cost	$	(1,211)	$	531	$	(49)	$	522	$	585	$	409
Recognized in other comprehensive loss (income) before tax:
Net loss (gain) occurring during year	$	2,562	$	1,716	$	(11,028)	$	441	$	807	$	640
Amortization of prior service credit	(102)		(263)		(222)		—		—		267
Amortization of net loss	10		—		—		(209)		(329)		(444)

Total recognized in other comprehensive loss (income)	2,470		1,453		(11,250)		232		478		463
Total recognized in total benefits cost and other comprehensive loss (income)	$	1,259	$	1,984	$	(11,299)	$	754	$	1,063	$	872

Schedule of Assumptions Used

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


	2024		2023
Discount Rate:
Synergy Health plc Retirement Benefits Scheme	4.80	%	4.70	%
Isotron BV Pension Plan	3.40	%	3.70	%
Synergy Health Daniken AG	1.50	%	2.05	%
Synergy Health Radeberg	3.80	%	3.80	%
Synergy Health Allershausen	3.50	%	3.70	%
Harwell Dosimeters Ltd Retirement Benefits Scheme	4.80	%	4.80	%
Other post-retirement plan	5.00	%	4.75	%

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:


	2024		2023		2022
Discount Rate:
Synergy Health plc Retirement Benefits Scheme	4.70	%	2.80	%	2.10	%
Isotron BV Pension Plan	3.70	%	1.80	%	0.90	%
Synergy Health Daniken AG	1.50	%	2.05	%	1.00	%
Synergy Health Radeberg	2.00	%	2.00	%	1.50	%
Synergy Health Allershausen	2.20	%	2.20	%	2.00	%
Harwell Dosimeters Ltd Retirement Benefits Scheme	4.85	%	4.80	%	2.85	%
Other post-retirement plan	4.75	%	3.25	%	2.50	%
Expected Return on Plan Assets:
Synergy Health plc Retirement Benefits Scheme	6.10	%	3.20	%	3.60	%
Isotron BV Pension Plan	3.70	%	1.80	%	0.90	%
Synergy Health Daniken AG	1.50	%	1.95	%	1.00	%

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.


	2024		2023		2022
Healthcare cost trend rate – medical	7.50	%	7.50	%	7.00	%
Healthcare cost trend rate – prescription drug	7.50	%	7.50	%	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.

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

The fair value of our pension benefits plan assets at March 31, 2024 and 2023 by asset category is as follows:


	Fair Value Measurements at March 31, 2024
(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	$	372	$	372	$	—	$	—
Insured annuities	10,468		—		10,468		—
Insurance contracts	6,110		—		—		6,110
Common and collective trusts valued at net asset value:
Equity security trusts	37,190		—		—		—
Debt security trusts	59,773		—		—		—
Total Plan Assets	$	113,913	$	372	$	10,468	$	6,110


	Fair Value Measurements at March 31, 2023
(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	$	338	$	338	$	—	$	—
Insured annuities	10,285		—		10,285		—
Insurance contracts	5,387		—		—		5,387
Common and collective trusts valued at net asset value:
Equity security trusts	48,137		—		—		—
Debt security trusts	42,942		—		—		—
Total Plan Assets	$	107,089	$	338	$	10,285	$	5,387

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 2024 due to the following:


	Insurance contracts
Balance at March 31, 2022	$	5,383
Gains (losses) related to assets still held at year-end	(157)
Transfers out of Level 3	320
Foreign currency	(159)
Balance at March 31, 2023	$	5,387
Gains (losses) related to assets still held at year-end	28
Transfers out of Level 3	631
Foreign currency	64
Balance at March 31, 2024	$	6,110

Schedule of Expected Benefit Payments

Based upon the actuarial assumptions utilized to develop our benefit obligations at March 31, 2024, the following benefit payments are expected to be made to plan participants:


	Other Defined Benefit Pension Plans		Other Post-Retirement Benefits Plan
2025	$	4,842	$	994
2026	4,761		890
2027	4,901		804
2028	5,017		712
2029	5,197		638
2030 and thereafter	28,137		2,268

Debt

12 Months Ended

Mar. 31, 2024

Debt Disclosure [Abstract]

Debt

8. DEBT

Indebtedness as of March 31, 2024 and 2023 was as follows:


	March 31, 2024		March 31, 2023



Short-term debt
Term loan, current portion	$	41,250	$	27,500
Delayed draw term loan, current portion	44,688		32,500

Total short-term debt	$	85,938	$	60,000


Long-term debt
Private Placement Senior Notes	$	751,433	$	750,302
Revolving Credit Facility	484,529		301,672
Deferred financing costs	(17,988)		(21,444)
Term loan	3,750		45,000
Delayed draw term loan	548,438		593,125
Senior Public Notes	1,350,000		1,350,000
Total long-term debt	$	3,120,162	$	3,018,655
Total debt	$	3,206,100	$	3,078,655

On March 19, 2021, STERIS plc ("the Company"), STERIS Corporation, STERIS Limited (“Limited”), and STERIS Irish FinCo Unlimited Company ("FinCo", "STERIS Irish FinCo"), each as a borrower and guarantor, entered into a credit agreement with various financial institutions as lenders, and JPMorgan Chase Bank, N.A., as administrative agent (the “Revolving Credit Agreement”) providing for a $1,250,000 revolving credit facility (the “Revolver”), which replaced a prior revolving credit agreement.

The Revolver provides for revolving credit borrowings, swing line borrowings and letters of credit, with sublimits for swing line borrowings and letters of credit. The Revolver may be increased in specified circumstances by up to $625,000 in the discretion of the lenders. The Revolver matures on the date that is five years after March 19, 2021, and all unpaid borrowings, together with accrued and unpaid interest thereon, are repayable on that date. The Revolver bears interest from time to time, at either the Base Rate, the applicable Relevant Rate, or the applicable Adjusted Daily Simple RFR, as defined in and calculated under and as in effect from time to time under the Revolving Credit Agreement, plus the Applicable Margin, as defined in the Revolving Credit Agreement. The Applicable Margin is determined based on the Debt Rating of STERIS, as defined in the Credit Agreement. Interest on Base Rate Advances is payable quarterly in arrears, interest on Term Benchmark Advances is payable at the end of the relevant interest period therefor, but in no event less frequently than every three months, and interest on RFR Advances is payable monthly after the date of borrowing. Swingline borrowings bear interest at a rate to be agreed upon by the applicable swingline lender and the applicable borrower, subject to a cap in the case of swingline borrowings denominated in U.S. Dollars equal to the Base Rate plus the Applicable Margin for Base Rate Advances plus the Facility Fee. Advances may be extended in U.S. Dollars or in specified alternative currencies. In connection with the cessation of British Pound Sterling LIBOR and Swiss Franc LIBOR as of December 31, 2021, JPMorgan Chase Bank, N.A. as administrative agent, pursuant to authority contained in the Revolver, amended the Revolver on January 1, 2022 to make Benchmark Replacement Conforming Changes (as defined in the Revolver). The amendment concerns technical, administrative or operational changes related to borrowings in British Pounds Sterling and Swiss Francs.

As of March 31, 2024 a total of $484,529 of Credit Agreement and Swing Line Facility borrowings were outstanding under the Credit Agreement, based on currency exchange rates as of March 31, 2024.

On March 19, 2021, the Company, STERIS Corporation, Limited, and FinCo, each as a borrower and guarantor, entered into a term loan agreement with various financial institutions as lenders, and JPMorgan Chase Bank, N.A., as administrative agent (the “Term Loan Agreement”) providing for a $550,000 term loan facility (the “Term Loan”), which replaced an existing term loan agreement, dated as of November 18, 2020 (the “Existing Term Loan Agreement”). The proceeds of the Term Loan were used to refinance the Existing Term Loan Agreement.

The Term Loan matures on the date that is five years after March 19, 2021 (the “Term Loan Closing Date”). No principal payments are due on the Term Loan for the period beginning from the first full fiscal quarter ended after the Term Loan Closing

Date to and including the fourth full fiscal quarter ended after the Term Loan Closing Date. For the period beginning from the fifth full fiscal quarter ended after the Term Loan Closing Date to and including the twelfth full fiscal quarter ended after the Term Loan Closing Date, quarterly principal payments, each in the amount of 1.25% of the original principal amount of the Term Loan, are due on the last business day of each fiscal quarter. For the period beginning from the thirteenth full fiscal quarter ended after the Term Loan Closing Date through the maturity of the loan, quarterly principal payments, each in the amount of 1.875% of the original principal amount of the Term Loan, are due on the last business day of each fiscal quarter. The remaining unpaid principal is due and payable on the maturity date.

The Term Loan bears interest from time to time, at either the Base Rate or the Adjusted Term SOFR Rate, as defined in and calculated under and as in effect from time to time under the Term Loan Agreement, plus the Applicable Margin, as defined in the Term Loan Agreement. The Applicable Margin is determined based on the Debt Rating of STERIS, as defined in the Term Loan Agreement. Interest on Base Rate Advances is payable quarterly in arrears and interest on Term Benchmark Advances is payable in arrears at the end of the relevant interest period therefor, but in no event less frequently than every three months.

Also on March 19, 2021, the Company, STERIS Corporation, Limited, and FinCo, each as a borrower and guarantor, entered into a delayed draw term loan agreement with various financial institutions as lenders, and JPMorgan Chase Bank, N.A., as administrative agent (the “Delayed Draw Term Loan Agreement”) providing for a delayed draw term loan facility of up to $750,000 (the “Delayed Draw Term Loan”) in connection with STERIS’s acquisition of Cantel. During the first quarter of fiscal 2022, we borrowed $650,000 under our Delayed Draw Term Loan Agreement. The Delayed Draw Term Loan was funded by the lenders upon consummation of the Cantel acquisition (the “Acquisition Closing Date”). The proceeds of the Delayed Draw Term Loan were used, together with the proceeds from other new indebtedness, to fund the cash consideration for the acquisition, as well as for various other items.

The Delayed Draw Term Loan matures on the date that is five years after the Acquisition Closing Date. No principal payments are due on the Delayed Draw Term Loan for the period beginning from the first full fiscal quarter ended after the Acquisition Closing Date to and including the fourth full fiscal quarter ended after the Acquisition Closing Date. For the period beginning from the fifth full fiscal quarter ended after the Acquisition Closing Date to and including the twelfth full fiscal quarter ended after the Acquisition Closing Date, quarterly principal payments, each in the amount of 1.25% of the original principal amount of the Delayed Draw Term Loan, are due on the last business day of each fiscal quarter. For the period beginning from the thirteenth full fiscal quarter ended after the Acquisition Closing Date through the maturity of the loan, quarterly principal payments, each in the amount of 1.875% of the original principal amount of the Delayed Draw Term Loan, are due on the last business day of each fiscal quarter. The remaining unpaid principal is due and payable on the maturity date.

The Delayed Draw Term Loan bears interest from time to time, at either the Base Rate or the Adjusted Term SOFR Rate, as defined in and calculated under and as in effect from time to time under the Delayed Draw Term Loan Agreement, plus the Applicable Margin, as defined in the Delayed Draw Term Loan Agreement. The Applicable Margin is determined based on the Debt Rating of STERIS, as defined in the Delayed Draw Term Loan Agreement. Interest on Base Rate Advances is payable quarterly in arrears and interest on Term Benchmark Advances is payable in arrears at the end of the relevant interest period therefor, but in no event less frequently than every three months.

On May 3, 2023, in connection with the upcoming replacement of U.S. dollar LIBOR with SOFR, the Borrower, Guarantors, Lenders, and JPMorgan Chase Bank, N.A., each as defined in each of the agreements, amended the Revolving Credit Agreement, the Term Loan Agreement, and the Delayed Draw Term Loan Agreement. The amendments concern pricing, technical, administrative, and operational changes related to borrowings in U.S. dollars. The above descriptions reflect those amendments.

Senior Public Notes

On April 1, 2021, STERIS Irish FinCo Unlimited Company ("FinCo," "STERIS Irish FinCo," the "Issuer") completed an offering of $1,350,000 in aggregate principal amount, of its senior notes in two separate tranches: (i) $675,000 aggregate principal amount of the Issuer’s 2.70% Senior Notes due 2031 (the “2031 Notes”) and (ii) $675,000 aggregate principal amount of the Issuer’s 3.750% Senior Notes due 2051 (the “2051 Notes” and, together with the 2031 Notes, the “Senior Public Notes”). The Senior Public Notes were issued pursuant to an Indenture, dated as of April 1, 2021 (the “Base Indenture”), among FinCo, and STERIS plc, STERIS Corporation and STERIS Limited (the “Guarantors”) and U.S. Bank National Association, as trustee (the “Trustee”), as supplemented by the First Supplemental Indenture, dated as of April 1, 2021, among FinCo, the Guarantors and the Trustee (the “Supplemental Indenture” and, together with the Base Indenture, the “Indenture”). Each of the Guarantors guaranteed the Senior Public Notes jointly and severally on a senior unsecured basis (the “Guarantees”). The 2031 Notes will mature on March 15, 2031 and the 2051 Notes will mature on March 15, 2051. The Senior Public Notes will bear interest at the

rates set forth above. Interest on the Senior Public Notes is payable on March 15 and September 15 of each year, beginning on September 15, 2021, until their respective maturities.

Cantel's Convertible Debt

On May 15, 2020, Cantel issued $168,000 aggregate principal amount of 3.25% convertible senior notes due 2025 (the “Notes”) in a private placement. The initial conversion price was $41.51 per share of Cantel common stock (based on an initial conversion rate of 24.0912 shares of Cantel common stock per one thousand dollars in principal amount of Notes) and was, along with the conversion rate, subject to adjustment if certain events occurred.

Because each of the consummation of STERIS's acquisition of Cantel and the delisting of Cantel common stock from the New York Stock Exchange (the "NYSE") constituted a “Make-Whole Fundamental Change” under the indenture governing the notes (as supplemented, the "Cantel Indenture"), any Notes surrendered for conversion from and including June 2, 2021 until July 2, 2021 (the “Make-Whole Conversion Period”) were subject to conversion at the conversion rate of 25.0843 units of Reference Property (as defined in the Cantel Indenture) (the “Make-Whole Conversion Rate”), which corresponded to 8.4752 STERIS ordinary shares and approximately $424.68 in cash per one thousand dollars in principal amount of Cantel Notes. The Make-Whole Conversion Rate was based on an increase in the Conversion Rate by 0.9931 Additional Shares based on a Make-Whole Effective Date of June 2, 2021 and a Stock Price (each as defined in the Cantel Indenture) of $81.3520. Cantel settled all conversions of Notes in connection with the Make-Whole Fundamental Changes that constituted STERIS's acquisition of Cantel and the delisting of Cantel common stock from the NYSE pursuant to the Cash Settlement provisions of the Cantel Indenture.

The Cantel Trustee, acting as conversion agent, informed Cantel that holders of 100% of the outstanding Notes elected to convert their Notes during the Make-Whole Conversion Period.

The fair value of the Notes exceeded their aggregate par value of $168,000 at the date of consummation of STERIS's acquisition of Cantel. The fair value was estimated utilizing the closing price of STERIS ordinary shares on June 2, 2021. A premium of approximately $175,555 in excess of the aggregate par value of the Notes represented purchase consideration and was initially classified in additional paid-in capital in accordance with ASC 2020-06, "Debt—Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging—Contracts in Entity’s Own Equity (Subtopic 815-40)."

Because all Holders elected to convert during the Make-Whole Conversion Period, the aggregate par value outstanding was reclassified to current liabilities in the balance sheet. The premium initially recorded as additional paid in capital at the effective time of STERIS's acquisition of Cantel was reclassified to "Convertible debt, premium liability," also classified as a current liability, and was settled in cash.

The final total Cash Settlement value of the Notes was approximately $371,361, comprised of the aggregate par value of $168,000 and the fair value of the liability representing the premium over par of approximately $203,361.

The liability representing the premium over par value increased between the effective date of STERIS's acquisition of Cantel and settlement because of the movement in trading prices of STERIS Ordinary Shares during the Observation Periods (as defined in the Cantel Indenture). The fluctuation in fair value during such Observation Periods is reported in the statement of income as a component of “Non-operating expense, net.”

Our outstanding Private Placement Senior Notes at March 31, 2024 and 2023 were as follows:


	Applicable Note Purchase Agreement	Maturity Date	U.S. Dollar Value at March 31, 2024		U.S. Dollar Value at March 31, 2023

$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	64,708		65,254
$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	21,569		21,752
£45,000 Senior notes at 3.04%	2017 Private Placement	February 2029	56,799		55,579
€19,000 Senior notes at 2.30%	2017 Private Placement	February 2032	20,491		20,664
£30,000 Senior notes at 3.17%	2017 Private Placement	February 2032	37,866		37,053
Total Senior Notes			$	751,433	$	750,302

On February 27, 2017, Limited 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.

In December 2012, and in February 2013 STERIS Corporation issued and sold $200,000 of senior notes, in a private placement to certain institutional investors in offerings that were exempt from the registration requirements of the Securities Act of 1933. The agreement governing the notes contains leverage and interest coverage covenants.

On March 19, 2021, STERIS Corporation as issuer, and the Company, Limited and FinCo, as guarantors, entered into (1) a First Amendment to Amended and Restated Note Purchase Agreement dated March 5, 2019 (which had amended and restated certain note purchase agreements originally dated December 4, 2012) per the 2012 and 2013 senior notes (the “2012 Amendment”), and (2) a First Amendment to Amended and Restated Note Purchase Agreement dated March 5, 2019 (which had amended and restated certain note purchase agreements originally dated March 31, 2015) for the 2015 senior notes (the “2015 Amendment”). Also on March 19, 2021, Limited, as Issuer, and the Company, STERIS Corporation and FinCo, as guarantors, entered into a First Amendment to Amended and Restated Note Purchase Agreement dated March 5, 2019 (which had amended and restated a certain note purchase agreement originally dated January 23, 2017) for the 2017 senior notes (together with the 2012 Amendment and the 2015 Amendment, the “NPA Amendments”). The NPA Amendments provided, among other things, for the waiver of certain repurchase rights of the note holders and increased the size of certain baskets to more closely align with other current credit agreement baskets.

At March 31, 2024, 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:


2025	$	165,938
2026	662,029
2027	614,396
2028	150,000
2029 and thereafter	1,631,725
Total	$	3,224,088

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(c))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 470
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//470/tableOfContent

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (i)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1C
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1C

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1C
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1C

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1C
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1C

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1E
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1E

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1I
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1I

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1I
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1I

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1I
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1I

Business Segment Information

12 Months Ended

Mar. 31, 2024

Business Segment Information

13. BUSINESS SEGMENT INFORMATION

We operate and report our financial information in three reportable business segments: Healthcare, AST, and Life Sciences. Previously, we had four reportable business segments, however, as a result of the agreement to divest our Dental segment, Dental is presented as discontinued operations. Historical information has been retrospectively adjusted to reflect these changes for comparability, as required. For more information, refer to Note 4 titled, "Discontinued Operations." Non-allocated operating costs that support the entire Company and items not indicative of operating trends are excluded from segment operating income.

Our Healthcare segment provides a comprehensive offering for healthcare providers worldwide, focused on sterile processing departments and procedural centers, such as operating rooms and endoscopy suites. Our products and services range from infection prevention consumables and capital equipment, as well as services to maintain that equipment; to the repair of re-usable procedural instruments; to outsourced instrument reprocessing services. In addition, our procedural solutions also include endoscopy accessories, instruments, and capital equipment infrastructure used primarily in operating rooms, ambulatory surgery centers, endoscopy suites, and other procedural areas.

Our AST segment supports medical device and pharmaceutical manufacturers through a global network of contract sterilization and laboratory testing facilities, and integrated sterilization equipment and control systems. Our technology-neutral offering supports Customers every step of the way, from testing through sterilization.

Our Life Sciences segment provides a comprehensive offering of products and services designed to support biopharmaceutical and medical device research and manufacturing facilities, in particular those focused on aseptic manufacturing. Our portfolio includes a full suite of capital equipment, consumable products, equipment maintenance and specialty services.

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.

For the three years ended March 31, 2024, revenues from a single Customer did not represent ten percent or more of the Healthcare, AST or Life Sciences segment revenues.

Information regarding our segments is presented in the following tables.


Years Ended March 31,	2024		2023		2022
Revenues:
Healthcare	$	3,613,019	$	3,085,131	$	2,845,467
AST	953,980		914,431		852,972
Life Sciences	571,702		536,704		524,964

Total revenues	$	5,138,701	$	4,536,266	$	4,223,403
Operating income (loss):
Healthcare	871,358		706,020		649,704
AST	439,744		429,020		410,101
Life Sciences	221,349		210,225		216,188


Corporate	(348,497)		(264,974)		(283,665)
Total operating income before adjustments	$	1,183,954	$	1,080,291	$	992,328
Less: Adjustments
Amortization of acquired intangible assets (1)	266,420		256,355		262,344
Acquisition and integration related charges (2)	25,526		23,486		201,905
Tax restructuring costs (3)	620		661		301
Gain on fair value adjustment of acquisition related contingent consideration (1)	—		(3,100)		(2,350)
Net loss (gain) on divestiture of businesses (1)	873		(67)		(874)
Amortization of inventory and property "step up" to fair value (1)	10,032		11,370		53,139

Restructuring charges (4)	44,365		485		48

Income from Operations	$	836,118	$	791,101	$	477,815

(1) For more information regarding our recent acquisitions and divestitures, refer to Note 3 titled, "Business Acquisitions and Divestitures."

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

(3) Costs incurred in tax restructuring.

(4) For more information regarding our restructuring efforts, refer to Note 2 titled, "Restructuring."

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 and Life Sciences segments.

Individual facilities, equipment, and intellectual properties are utilized for production by both the Healthcare 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 and Life Sciences segments. Therefore, their respective amounts are reported together.


March 31,	2024		2023
Assets
Healthcare and Life Sciences	$	7,055,576	$	6,557,742
AST	3,203,217		3,129,258
Assets excluding assets held for sale	$	10,258,793	$	9,687,000


Years Ended March 31,	2024		2023		2022
Capital Expenditures
Healthcare and Life Sciences	$	114,164	$	98,585	$	84,487
AST	237,012		253,914		198,350

Total Capital Expenditures	$	351,176	$	352,499	$	282,837
Depreciation, Depletion, and Amortization (1)
Healthcare and Life Sciences	$	322,244	$	306,377	$	316,222
AST	127,823		116,153		115,925

Total Depreciation, Depletion, and Amortization	$	450,067	$	422,530	$	432,147

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,	2024		2023
Property, Plant, and Equipment, Net
Ireland	$	68,603	$	60,570
United States	1,009,979		877,950
Other locations	686,598		694,255
Property, Plant, and Equipment, Net	$	1,765,180	$	1,632,775


Years Ended March 31,	2024		2023		2022
Revenues:
Ireland	$	82,695	$	74,292	$	81,864
United States	3,751,437		3,254,373		2,943,950
Other locations	1,304,569		1,207,601		1,197,589
Total Revenues	$	5,138,701	$	4,536,266	$	4,223,403


Years Ended March 31,	2024		2023		2022
Healthcare:
Capital equipment	1,091,537		$	896,590	$	782,505
Consumables	1,248,424		1,050,316		1,004,605
Service	1,273,058		1,138,225		1,058,357
Total Healthcare Revenues	$	3,613,019	$	3,085,131	$	2,845,467
AST:
Capital equipment	$	14,519	$	26,460	$	24,394
Service	$	939,461	$	887,971	$	828,578
Total AST Revenues	$	953,980	$	914,431	$	852,972
Life Sciences:
Capital equipment	$	155,520	$	147,420	$	142,281
Consumables	251,580		241,114		239,365
Service	164,602		148,170		143,318
Total Life Sciences Revenues	$	571,702	536,704		524,964

Total Revenues	$	5,138,701	$	4,536,266	$	4,223,403

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-22

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 15
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-15

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 31
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-31

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 42
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-42

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 40
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-40

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//280/tableOfContent

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 26
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-26

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 34
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-34

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 41
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-41

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 21
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-21

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 21
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-21

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
Pay vs Performance Disclosure - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Dec. 31, 2022	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2022
Pay vs Performance Disclosure
Net Income (Loss) Attributable to Parent	$ (1,377)	$ 140,743	$ 115,319	$ 123,554	$ 187,225	$ 123,828	$ (315,285)	$ 111,262	$ 378,239	$ 107,030	$ 243,888

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

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

Inventories, Net (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Mar. 31, 2023
Notes To Financial Statements [Abstract]
Inventory, Raw Materials	$ 245,942	$ 220,431
Inventory, Work in Process	98,304	93,971
Inventory, Finished Goods	374,182	325,609
Inventory Valuation Reserves	(43,893)	(35,601)
Inventories, net	$ 674,535	$ 604,410

Goodwill and Intangible Assets Other Intangible Assets (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Mar. 31, 2023
Summary of Finite-Lived and Indefinite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Assets, Gross	$ 3,390,779	$ 3,080,820
Finite-Lived Intangible Assets, Accumulated Amortization	1,271,497	1,004,121
Indefinite-lived Intangible Assets (Excluding Goodwill)	14,250	14,250
Customer Relationships [Member]
Summary of Finite-Lived and Indefinite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Assets, Gross	2,552,913	2,313,441
Finite-Lived Intangible Assets, Accumulated Amortization	863,662	658,569
Noncompete Agreements [Member]
Summary of Finite-Lived and Indefinite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Assets, Gross	15,511	15,486
Finite-Lived Intangible Assets, Accumulated Amortization	15,234	14,202
Patented Technology [Member]
Summary of Finite-Lived and Indefinite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Assets, Gross	516,457	461,539
Finite-Lived Intangible Assets, Accumulated Amortization	278,492	237,939
Trademarks and Trade Names [Member]
Summary of Finite-Lived and Indefinite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Assets, Gross	251,098	235,554
Finite-Lived Intangible Assets, Accumulated Amortization	90,362	72,405
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	$ 23,747	$ 21,006

Fair Value Measurements (Tables)

12 Months Ended

Mar. 31, 2024

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

The following table shows the fair value of our financial assets and liabilities at March 31, 2024 and March 31, 2023:


					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
	2024		2023		2024		2023		2024		2023		2024		2023
Assets:
Cash and cash equivalents	$	207,020	$	208,357	$	207,020	$	208,357	$	—	$	—	$	—	$	—
Forward and swap contracts (1)	208		378		—		—		208		378		—		—
Equity investments (2)	4,767		7,069		4,767		7,069		—		—		—		—
Other investments	2,902		2,066		2,902		2,066		—		—		—		—
Liabilities:
Forward and swap contracts (1)	$	1,014	$	2,054	$	—	$	—	$	1,014	$	2,054	$	—	$	—
Deferred compensation plans (2)	1,186		1,022		1,186		1,022		—		—		—		—
Total debt (3)	3,206,100		3,078,655		—		—		2,895,784		2,754,218		—		—
Contingent consideration obligations (4)	11,000		15,678		—		—		—		—		11,000		15,678

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, 2022	$	10,550

Additions	8,302
Payments	(80)
Reductions and adjustments	(3,100)
Foreign currency translation adjustments	6
Balance at March 31, 2023	$	15,678
Additions	1,313
Payments	(5,967)

Foreign currency translation adjustments	(24)
Balance at March 31, 2024	$	11,000

Fair Value Option, Disclosures

The following table shows the fair value of our financial assets and liabilities at March 31, 2024 and March 31, 2023:


					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
	2024		2023		2024		2023		2024		2023		2024		2023
Assets:
Cash and cash equivalents	$	207,020	$	208,357	$	207,020	$	208,357	$	—	$	—	$	—	$	—
Forward and swap contracts (1)	208		378		—		—		208		378		—		—
Equity investments (2)	4,767		7,069		4,767		7,069		—		—		—		—
Other investments	2,902		2,066		2,902		2,066		—		—		—		—
Liabilities:
Forward and swap contracts (1)	$	1,014	$	2,054	$	—	$	—	$	1,014	$	2,054	$	—	$	—
Deferred compensation plans (2)	1,186		1,022		1,186		1,022		—		—		—		—
Total debt (3)	3,206,100		3,078,655		—		—		2,895,784		2,754,218		—		—
Contingent consideration obligations (4)	11,000		15,678		—		—		—		—		11,000		15,678

Benefit Plans (Details Textual) - USD ($) $ in Thousands	12 Months Ended
Benefit Plans (Details Textual) - USD ($) $ in Thousands	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2022
Defined Contribution Plan, Employer Discretionary Contribution Amount	$ 39,600	$ 36,564	$ 38,600
Defined Contribution Plan, Fair Value of Plan Assets	$ 1,382,313
STERIS Corporation shares held in defined contribution plan	446,128
Fair value of STERIS Corporatio stock held in defined contribution plan	$ 97,635
Defined Contribution Plan, Dividends Paid	915	886	$ 852
Deferred Compensation Plan Assets	$ 1,129	$ 938
Debt Securities
Defined Benefit Plan, Plan Assets, Target Allocation, Percentage	25.00%

Financial and Other Guarantees

12 Months Ended

Mar. 31, 2024

Product Warranty Disclosure [Text Block]

17. 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,	2024		2023		2022
Balance, Beginning of Year	$	13,394	$	13,892	$	9,406
Liabilities assumed in acquisition of Cantel	—		—		4,553
Warranties issued during the period	18,051		13,195		12,571
Settlements made during the period	(16,057)		(13,693)		(12,638)
Balance, End of Year	$	15,388	$	13,394	$	13,892

Reclassifications out of AOCI (Tables)

12 Months Ended

Mar. 31, 2024

Reclassifications out of AOCI Equity [Abstract]

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

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


	Defined Benefit Plans (1)						Foreign Currency Translation (2)						Total Accumulated Other Comprehensive Income (Loss)
	2024		2023		2022		2024		2023		2022		2024		2023		2022
Beginning Balance	$	12	$	1,276	$	(5,519)	$	(320,722)	$	(211,084)	$	(55,724)	$	(320,710)	$	(209,808)	$	(61,243)
Other Comprehensive Income (Loss) before reclassifications	615		(799)		11,148		(7,211)		(109,638)		(155,360)		(6,596)		(110,437)		(144,212)
Amounts reclassified from Accumulated Other Comprehensive Loss	(1,351)		(465)		(4,353)		—		—		—		(1,351)		(465)		(4,353)
Net current-period Other Comprehensive (Loss) Income	(736)		(1,264)		6,795		(7,211)		(109,638)		(155,360)		(7,947)		(110,902)		(148,565)
Ending Balance	$	(724)	$	12	$	1,276	$	(327,933)	$	(320,722)	$	(211,084)	$	(328,657)	$	(320,710)	$	(209,808)

(1) The amortization (gain) of defined benefit plan costs is reported in the Interest income and miscellaneous expense (income) line of our Consolidated Statements of Income.

Benefit Plans (Assumed long-term healthcare cost trend rate) (Details)	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2022
Postemployment Benefits [Abstract]
Healthcare cost trend rate medical	7.50%	7.50%	7.00%
Healthcare prescription drug	7.50%	7.50%	7.00%
Defined Benefit Plan, Ultimate Health Care Cost Trend Rate	4.50%	4.50%	4.50%

Discontinued Operations - Summary Assets and Liabilities Classified as Held for Sale (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Sep. 30, 2023	Mar. 31, 2023
Liabilities held for sale:
Current	$ 804,904		$ 157,580
Non-current	0		977,259
Current	64,012		50,642
Non-current	0		20,936
BD Acquisition
Liabilities held for sale:
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill	303,000	$ 303,598
BD Acquisition \| Customer Relationships [Member]
Liabilities held for sale:
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill	238,000
Discontinued Operations, Held-for-Sale \| Discontinued Operations, Dental Segment
Assets held for sale:
Accounts receivable, net	48,590		63,327
Inventories, net	89,345		91,083
Property, plant, and equipment, net	73,395		72,737
Lease right-of-use assets, net	22,822		25,188
Intangibles, net	770,731		879,081
Prepaid expenses and other assets	2,953		3,423
Loss accrued on classification as held for sale	(202,932)		0
Total assets held for sale	804,904		1,134,839
Liabilities held for sale:
Accounts payable	10,580		15,455
Accrued income taxes	433		3,327
Accrued payroll and other related liabilities	13,683		7,179
Lease obligations	23,722		25,832
Accrued expenses and other	15,594		19,785
Disposal Group, Including Discontinued Operation, Liabilities	64,012		71,578
Current	804,904		157,580
Non-current	0		977,259
Current	64,012		50,642
Non-current	$ 0		$ 20,936

Benefit Plans (Fair value of our pension benefits plan assets) (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2022
Defined Benefit Plan Disclosure [Line Items]
Other Investments	$ 6,110	$ 5,387	$ 5,383
Fair Value, Inputs, Level 1
Defined Benefit Plan Disclosure [Line Items]
Cash and Cash Equivalents, Fair Value Disclosure	207,020	208,357
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	6,110	5,387
Trading Securities, Cost	37,190	48,137
Cash and Cash Equivalents, Fair Value Disclosure	372	338
Other Investments	10,468	10,285
Defined Benefit Plan, Plan Assets, Amount	113,913	107,089	$ 142,172
Debt Securities, Trading	59,773	42,942
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	372	338
Other Investments	0	0
Defined Benefit Plan, Plan Assets, Amount	372	338
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	10,468	10,285
Defined Benefit Plan, Plan Assets, Amount	10,468	10,285
Other Defined Benefit Pension Plans [Member] \| Fair Value, Inputs, Level 3
Defined Benefit Plan Disclosure [Line Items]
Insurance Contract	6,110	5,387
Cash and Cash Equivalents, Fair Value Disclosure	0	0
Other Investments	0	0
Defined Benefit Plan, Plan Assets, Amount	$ 6,110	$ 5,387

Discontinued Operations - Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2022
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Goodwill, Impairment Loss	$ 0	$ 490,565	$ 0
Effective Income Tax Rate Reconciliation, Disposition of Business, Percent	24.30%	13.90%	20.50%
Non-deductible goodwill impairment		$ 207,367
UNITED STATES
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Goodwill, Impairment Loss		441,643
Other foreign locations [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Goodwill, Impairment Loss		$ 48,922
Discontinued Operations, Dental Segment
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Potential Earnout on Divestiture of Business	$ 12,500
Discontinued Operations, Held-for-Sale \| Discontinued Operations, Dental Segment
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Disposal Group, Including Discontinued Operation, Consideration	$ 787,500

Property, Plant and Equipment

12 Months Ended

Mar. 31, 2024

Property, Plant and Equipment

7. PROPERTY, PLANT, AND EQUIPMENT

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


March 31,	2024		2023
Land and land improvements (1)	$	90,134	$	77,757
Buildings and leasehold improvements	724,492		658,108
Machinery and equipment	1,075,082		959,952
Information systems	256,671		240,933
Radioisotope	692,642		637,920
Construction in progress (1)	500,106		472,206
Total property, plant, and equipment	3,339,127		3,046,876
Less: accumulated depreciation and depletion	(1,573,947)		(1,414,101)
Property, plant, and equipment, net	$	1,765,180	$	1,632,775

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

Depreciation and depletion expense were $181,722, $165,019 and $176,298, for the years ended March 31, 2024, 2023, and 2022, 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, 2022	$	13,543
Liabilities incurred during the period	86
Liabilities settled during the period	(625)
Accretion expense and change in estimate	104
Foreign currency and other	23
Balance at March 31, 2023	$	13,131
Liabilities incurred during the period	253
Liabilities settled during the period	(144)
Accretion expense and change in estimate	311
Foreign currency and other	107
Balance at March 31, 2024	$	13,658

Contingencies Lease Policy (Policies)	12 Months Ended
Contingencies Lease Policy (Policies)	Mar. 31, 2024
Property, Plant and Equipment [Abstract]
Lessee, Leases [Policy Text Block]	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, 2024 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.

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Mar. 31, 2024	Mar. 31, 2023
Current assets:
Cash and cash equivalents	$ 207,020	$ 208,357
Accounts receivable (net of allowances of $XX,XXX and $19,284, respectively)	1,008,315	864,988
Inventories, net	674,535	604,410
Prepaid expenses and other current assets	174,349	176,107
Current	804,904	157,580
Total current assets	2,869,123	2,011,442
Property, plant, and equipment, net	1,765,180	1,632,775
Operating Lease, Right-of-Use Asset	173,201	166,553
Goodwill	4,070,712	3,879,219
Intangible Assets, Net (Excluding Goodwill)	2,119,282	2,076,699
Other assets	66,199	77,892
Non-current	0	977,259
Assets	11,063,697	10,821,839
Current liabilities:
Accounts payable	251,723	264,165
Accrued Income Taxes, Current	13,640	40,477
Accrued payroll and other related liabilities	164,831	118,463
Capital Lease Obligations, Current	31,239	30,065
Current	64,012	50,642
Accrued expenses and other	319,744	298,032
Short-term Debt	85,938	60,000
Total current liabilities	931,127	861,844
Long-term indebtedness	3,120,162	3,018,655
Deferred income taxes, net	479,688	617,538
Capital Lease Obligations, Noncurrent	145,828	139,557
Other Liabilities, Noncurrent	71,546	76,137
Non-current	0	20,936
Total liabilities	4,748,351	4,734,667
Commitments and contingencies (see note 10)
Ordinary shares, with $0.001 par value; 500,000 shares authorized; xx,xxx and 98,629 ordinary shares issued and outstanding, respectively	4,543,176	4,486,375
Retained earnings	2,087,645	1,911,533
Accumulated other comprehensive income	(328,657)	(320,710)
Total shareholders' equity	6,302,164	6,077,198
Noncontrolling interest	13,182	9,974
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	6,315,346	6,087,172
Total liabilities and equity	$ 11,063,697	$ 10,821,839

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Parenthetical) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2022
Statement of Comprehensive Income [Abstract]
Other Comprehensive Income (Loss), Pension and Other Postretirement Benefit Plans, Tax	$ (155)	$ 521	$ 507

Inventories, Net

12 Months Ended

Mar. 31, 2024

Inventories, Net

6. INVENTORIES, NET

Components of our inventories are presented in the following table.


March 31,	2024		2023

Raw materials	$	245,942	$	220,431
Work in process	98,304		93,971
Finished goods	374,182		325,609

Reserve for excess and obsolete inventory	(43,893)		(35,601)
Inventories, net	$	674,535	$	604,410

Additional Consolidated Balance Sheets Information (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2022	Mar. 31, 2021
Notes To Financial Statements [Abstract]
Employee-related Liabilities	$ 48,152	$ 43,960
Accrued Vacation	16,140	13,348
Accrued Bonuses	61,669	31,096
Accrued Liabilities for Commissions, Expense and Taxes	35,980	26,924
Liability, Other Retirement Benefits	994	1,121
Liability, Retirement and Postemployment Benefits	1,896	2,014
Employee-related Liabilities, Current	164,831	118,463
Deferred Revenue	70,460	85,727
Service liabilities	92,590	72,033
Self Insurance Reserve, Current	13,303	11,325
Accrued Sales Commission	33,277	27,078
Standard and Extended Product Warranty Accrual	15,388	13,394	$ 13,892	$ 9,406
Asset Retirement Obligation, Current	510	543
Other Accrued Liabilities	83,107	78,689
Accrued Liabilities	319,744	298,032
Self Insurance Reserve, Noncurrent	21,646	22,171
Liability, Other Retirement Benefits, Noncurrent	5,159	6,070
Liability, Defined Benefit Pension Plan, Noncurrent	2,727	2,876
Liability, Pension and Other Postretirement and Postemployment Benefits, Noncurrent	1,321	1,153
Accrued Income Taxes, Noncurrent	6,508	10,082
Asset Retirement Obligations, Noncurrent	13,148	12,588
Other Liabilities	21,037	21,197
Other Liabilities, Noncurrent	71,546	76,137
Accrued interest	$ 11,109	$ 9,243

Goodwill and Intangible Assets Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2022
Goodwill [Line Items]
Indefinite-lived Intangible Assets (Excluding Goodwill)	$ 14,250	$ 14,250
Goodwill	4,070,712	3,879,219	$ 3,938,976
Goodwill, Acquired During Period	200,086	7,024
Finite-Lived Intangible Assets, Amortization Expense	268,319	259,676	264,607
Finite-Lived Intangible Assets, Gross	3,390,779	3,080,820
Finite-Lived Intangible Assets, Accumulated Amortization	1,271,497	1,004,121
Goodwill, Impairment Loss	0	490,565	$ 0
Trademarks and Trade Names [Member]
Goodwill [Line Items]
Finite-Lived Intangible Assets, Gross	251,098	235,554
Finite-Lived Intangible Assets, Accumulated Amortization	$ 90,362	$ 72,405

Amount after accumulated impairment loss of an asset representing future economic benefits arising from other assets acquired in a business combination that are not individually identified and separately recognized.

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 24
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482548/350-20-55-24

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1A
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1A

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-2

Benefit Plans (Accumulated benefit obligation exceeding the fair value of plan assets) (Details) - Other Defined Benefit Pension Plans [Member] - USD ($) $ in Thousands	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2022
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	$ 113,913	$ 107,089	$ 142,172
Defined Benefit Plan, Accumulated Benefit Obligation	96,375	93,640
defined benefit plans, aggregate projected benefit obligation	$ 96,375	$ 93,640

Amount of asset segregated and restricted to provide benefit under defined benefit plan. Asset includes, but is not limited to, stock, bond, other investment, earning from investment, and contribution by employer and employee.