Commitments and Contingencies |
9 Months Ended |
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Dec. 31, 2025 | |
| Commitments and Contingencies Disclosure [Abstract] | |
| Commitments and Contingencies | Commitments and Contingencies Legal Proceedings and Other Contingencies
We are involved in various legal and administrative proceedings that arise from time to time in the ordinary course of doing business. Some of these proceedings may result in fines, penalties or judgments being assessed against us, which may adversely affect our financial results. In addition, from time to time, we are involved in various disputes, which may or may not be settled prior to legal proceedings being instituted and which may result in losses in excess of accrued liabilities, if any, relating to such unresolved disputes. As of December 31, 2025, we have established an estimated liability associated with the aforementioned disputes. Expenses related to litigation reduce operating income. We do not believe that the outcome of any of these proceedings or disputes would have a material adverse effect on our financial position, long-term results of operations, or cash flows. It is possible, however, that charges related to these matters could be significant to our results of operations or cash flows in any one reporting period. Refer to Note 8, "Accrued Liabilities" for more information regarding our accruals related to these proceedings.
Letters of Credit, Bank Guarantees and Performance Bonds
The Company maintains letters of credit, bank guarantees, and performance bonds. Together, these totaled $14,101 at December 31, 2025, and are described further below.
We had $7,406 of outstanding letters of credit issued to customers. This amount includes $2,261 in cash‑secured bank guarantees, as described in Note 1, “Basis of Presentation.” The remaining balance consists of $1,018 in letters of credit that reduce the borrowing capacity under our Revolving Credit Facility and $4,127 in letters of credit that do not affect borrowing capacity and do not require restricted cash.
We had $6,696 of outstanding performance bonds primarily related to the Company's engineered solutions and related projects.
In addition to the $14,101 described above, our Indian subsidiary also had $4,038 of non‑collateralized customs bonds outstanding to support customs and duties obligations in India.
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