Employee Benefit Plans
|9 Months Ended|
Dec. 31, 2019
|Compensation And Retirement Disclosure [Abstract]|
|Employee Benefit Plans||
NOTE 11 – EMPLOYEE BENEFIT PLANS:
The components of pension cost are as follows:
The Company made no contributions to its defined benefit pension plan during the nine months ended December 31, 2019 and does not expect to make any contributions to the plan for the balance of fiscal 2020.
The components of the postretirement benefit cost are as follows:
The Company paid benefits of $1 related to its postretirement benefit plan during the nine months ended December 31, 2019. The Company expects to pay benefits of approximately $77 for the balance of fiscal 2020.
The components of net periodic benefit cost other than service cost are included in the line item “Other income” in the Condensed Consolidated Statements of Income.
The Company self-funds the medical insurance coverage it provides to its U.S. based employees. The Company maintains a stop loss insurance policy in order to limit its exposure to claims. The liability of $140 and $150 on December 31, 2019 and March 31, 2019, respectively, related to the self-insured medical plan is primarily based upon claim history and is included in the caption “Accrued compensation” as a current liability in the Condensed Consolidated Balance Sheets.
The entire disclosure for pension and other postretirement benefits.
Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef